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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br /> <br />County of Orange <br />OC Community Resources/ <br />Housing & Community Development <br />1501 E. St. Andrew Place, 1st Floor, <br />Santa Ana, CA 92705 <br />Attn: Director <br /> <br />_______________________________________________________________________________ <br /> <br /> <br />SUBORDINATION AGREEMENT <br /> <br /> <br /> THIS SUBORDINATION AGREEMENT (this "Agreement") is entered into as of June ___, <br />2022 by and among (i) COUNTY OF ORANGE, a political subdivision of the state of California, <br />(the "County") (ii) CITY OF SANTA ANA, a charter city and municipal corporation (the <br />"Subordinate Lender"), and (iii) WASHINGTON SANTA ANA HOUSING PARTNERS, L.P., a <br />California limited partnership (the "Borrower"). <br /> <br /> Recitals <br /> <br /> <br /> A. The County has made or is making a loan (the "Senior Mortgage Loan") to the <br />Borrower in the original principal amount of $2,280,701. The Senior Mortgage Loan is or will be <br />secured by a senior mortgage lien (the "Senior Mortgage") on a multifamily housing project known <br />as Crossroads at Washington, located in the City of Santa Ana, CA (the "Property”) and as more <br />fully described in Exhibit “A” attached hereto. The Borrower's obligation to repay the Senior <br />Mortgage Loan is evidenced by a Promissory Note of even date herewith (the "Senior Mortgage <br />Note"). <br /> <br /> B. The Borrower has obtained two (2) loans from Subordinate Lender totaling <br />$4,644,909 as follows: a loan of HOME Investment Partnerships Program (HOME) funds totaling <br />$3,007,489; and a loan from the City of Santa Ana Neighborhood Stabilization Program totaling <br />$1,637,420 (collectively, the "Subordinate Loans") which Subordinate Loans will be secured by, <br />among other things, two mortgage liens against the Property. <br /> <br /> D. The County has agreed to permit the Subordinate Loans to remain as subordinate <br />mortgage liens against the Property subject to all of the conditions contained in this Agreement. <br /> <br />EXHIBIT 8