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INSURANCE NOT REQUIRED _e <br />WORK MAY PROCEW <br />CZCLERK OF GO-UNNE <br />' DATE: <br />N <br />N FREE RECORDING REQUESTED <br />PURSUANT TO GOVERNMENT CODE <br />Q SECTION 27383 <br />p',CDR 0 (g614usKAW)L6 <br />RECORDING REQUESTED BY AND <br />WHEN RECORDED RETURN TO: <br />City of Santa Ana, Clerk of the Council <br />20 Civic Center Plaza (M-30), P.O. Box 1988 <br />Santa Ana, California 92702 <br />-10 V, /),1 -0 (space above this line for Recorder's use) <br />SUBORDINATION AGREEMENT <br />A-2021-056 <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR <br />SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT <br />TO AND OF LOWER PRIORITY THAN THE LIEN(S) OF SOME <br />OTHER OR LATER SECURITY INSTRUMENT. <br />THIS AGREEMENT dated as of Aprild ( , 2021 for informational purposes, is entered into <br />by and between City of Santa Ana, a charter city and municipal corporation (the "Locality"), North <br />Harbor Housing Partners LP, a California limited partnership ("Borrower"), and Jamboree Housing <br />Corporation, a California nonprofit public benefit corporation ("Jamboree"), in connection with a loan <br />by the Locality to Borrower to finance a multifamily residential rental housing project on real property <br />located in the City of Santa Ana, County of Orange, California and more particularly described on <br />Exhibit A attached hereto and incorporated herein by this reference ("Project"). Unless otherwise <br />noted, references to instruments recorded in "Official Records" refer to instruments recorded in the <br />Office of the County Recorder of the County of Orange. <br />RECITALS <br />A. WHEREAS, Borrower and the Locality have or will encumber the Project with the <br />following documents related to the financing and/or development of the Project: <br />1. That certain Affordability Restrictions on Transfer of Property dated as of <br />April 20, 2021 (the "Locality Regulatory Agreement') by and between the Locality and the Borrower <br />to be recorded in the Official Records substantially concurrently herewith; <br />2. A CDBG Loan Agreement dated as of April 20, 2021 (the "Locality Loan <br />Agreement') by and between the Locality and the Borrower, recorded ea Apr-4 _ 1021 in the <br />t�t+a a.ily114 , securing a loan by the Locality to the Borrower <br />(the "Locality Loan"); <br />3. A City CDBG Deed of Trust and Assignment of Rents dated as of April 20, <br />2021 (the "Locality Deed of Trust') by and between the Locality, as beneficiary, and the Borrower, <br />2045/020587-0138 <br />16387351.2 <br />