Item 68 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washigton Ave.

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Subordination Agreement (City of Santa Ana) Form 6456 Page 2 Fannie Mae 08-13 © 2013 Fannie Mae [Crossroads at Washington] 4870-7010-6914v.2 0017787-000542 C. Borrower has requested Senior Lender to permit Subordinate Lender to loan to Borrower (1) a subordinate loan in the amount of $3,007,489 (the “HOME Loan”), and (2) a subordinate loan in the amount of $1,637,420 (the “NSP Loan”; and together with the HOME Loan, the “Subordinate Loans”), and to allow the Subordinate Loans to be secured by mortgage liens against the Mortgaged Property. D. Upon satisfaction of all “Conditions to Conversion” described in that certain Loan Purchase Agreement dated as of even date herewith, by and among Borrower, Senior Lender and California Community Reinvestment Corporation, a California nonprofit public benefit corporation (“Permanent Lender”), the Senior Loan will convert from a construction loan to a permanent term loan. On the Conversion Date, Permanent Lender shall purchase the Senior Loan, take an assignment from Senior Lender of its rights under the Senior Loan Documents, and become the “Senior Lender” hereunder. E. Senior Lender has agreed to permit the Subordinate Loans and to allow the subordinate mortgage liens against the Mortgaged Property subject to all of the conditions contained in this Agreement. AGREEMENTS: NOW, THEREFORE, in order to induce the Senior Lender to permit the Subordinate Lender to make the Subordinate Loans to Borrower and to place a subordinate mortgage lien against the Mortgaged Property, and in consideration thereof, Senior Lender, Subordinate Lender and Borrower agree as follows: 1. Recitals. The recitals set forth above are incorporated herein by reference. 2. Definitions. In addition to the terms defined in the Recitals to this Agreement, for purposes of this Agreement the following terms have the respective meanings set forth below: “Affiliate” means, when used with respect to a Person, any corporation, partnership, joint venture, limited liability company, limited liability partnership, trust or individual Controlled by, under common Control with, or which Controls such Person, and in all cases any other Person that holds fifty percent (50%) or more of the ownership interests in such Person. “Borrower” means the Person named as such in the first paragraph on page 1 of this Agreement, any successor or assign of Borrower, including without limitation, a receiver, trustee or debtor-in- possession and any other Person (other than Senior Lender) who acquires title to the Mortgaged Property after the date of this Agreement. “Business Day” means any day other than (a) a Saturday, (b) a Sunday, (c) a day on which Senior Lender or Subordinate Lender is not open for business, or (d) a day on which the Federal Reserve Bank of New York is not open for business. EXHIBIT 7