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Recording requested by: <br /> North American Title Company Recorded in Official Records, Alameda County <br /> Escrow No. 98220683SHS Patrick O'Connell, Clerk- Recorder <br /> WHEN RECORDED MAIL TO: <br /> MITI Hill 19 <br /> 99386163 08:30am 10/13/99 <br /> 20 City of Pleasanton 005 5 955222 7.00 12.00 0.00 000067 0.00 0.00 0.00 <br /> 123 Main Street 0.00 <br /> Pleasanton, CA 94566 <br /> Attn: Scott Erickson <br /> Ridge View Commons <br /> 5200 Case Avenue S <br /> Pleasanton, CA l lā–  <br /> SUBORDINATION AGREEMENT <br /> (Memorandum of Option) <br /> NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY <br /> INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER <br /> PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT <br /> THIS SUBORDINATION AGREEMENT is made as of September 16, <br /> 1999, by Ridge View Commons Associates, a California Limited <br /> Partnership "Owner and Eden Housing, Inc., a California <br /> nonprofit public benefit corporation "Eden <br /> RECITALS: <br /> Owner has executed or is about to execute that Promissory <br /> Note and Deed of Trust dated as of September 1, 1999, in the <br /> principal amount not to exceed $2,250,000.00 in favor of the City <br /> of Pleasanton "Lender which Deed of Trust is being recorded <br /> concurrently herewith; <br /> WHEREAS, the Owner, as the optionor, and Eden, as the <br /> optionee, have executed a Memorandum of Option recorded March 14, <br /> 1990 as series no. 90070679 in Alameda County; and <br /> WHEREAS, it is a condition precedent to obtaining the loan <br /> from the Lender that the Deed of Trust shall unconditionally be <br /> and remain at all times a lien upon the Property described in <br /> Exhibit A, prior and superior to the lien of the Memorandum of <br /> Option; and <br /> WHEREAS, Lender is willing to make the loan provided the <br /> Deed of Trust is a lien upon the Property prior and superior to <br /> the lien of the Memorandum of Option and provided that Owner and <br /> Eden will specifically and unconditionally subordinate the lien <br /> of the Memorandum of Option to the lien of the Deed of Trust; and <br /> NOW, THEREFORE, in consideration of the mutual benefits <br /> accruing to the parties hereto and other valuable consideration, <br /> the receipt and sufficiency of which consideration is hereby <br /> acknowledged, and in order to induce Lender to make the loan <br /> sa \Option.RVC(1) <br />