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Commonwealth Land Title Company <br />WHEN RECORDED MAIL TO: <br />Century Housing Corporation <br />1000 Corporate Pointe <br />Culver City, CA 90230 <br />Attention: Legal Department <br />Recorded in Official Records, Orange County <br />Hugh Nguyen, Clerk -Recorder <br />1X11111I111111III11I11 IIIII IIIA jjj� 11111 IIIA IIIA IIIII11I11IIII III IIII 39.00 <br />* $ R 0 0 0 8 0 4 4 1 0 2$ <br />2015000645195 8:00 am 12123!15 <br />232 407 S13 F13 11 <br />0.00 0.00 0.00 0.00 30.00 0.00 0.00 0.00 <br />(0 Space Above Ais Line For Recorder's Use <br />NOTICE <br />THIS SUBORDINATION AGREEMENT <br />RESULTS IN YOUR SECURITY INTERESTS IN THE PROPERTY <br />BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN <br />IN THIS AGREEMENT <br />THIS SUBORDINATION AGREEMENT ("Agreement") is made this 17`i`, day of <br />December, 2015, by Newport Veterans Housing LP, a California limited partnership <br />("Borrower"), Century Housing Corporation, a California nonprofit corporation ("Century"), <br />and City of Newport Beach ("Lender"). <br />RECITALS <br />A. Borrower has executed that Deed, of Trust (Name) dated qSt41 2015, <br />recorded as Instrument No.:20t50Wbqr0rm the Orange County Official Records <br />("Official Records") ("Lender Deed") encumbering that certain real property located in the <br />County of Orange, State of California, as more particularly described in Exhibit A attached <br />hereto (the "Property"). The Lender Deed secures Borrower's obligations under a <br />promissory note in favor of Lender (the "Lender Note') in the amount of.$1,975,000.00. <br />B. Borrower has executed, or is about to execute a promissory note in favor of <br />Century in the face amount of $1,997,000.00 (".Century Note") of even date herewith, and <br />evidencing a loan (the "Century Loan") in such amount to Borrower by Century. The <br />Century Note is to be secured by a deed of trust executed by Borrower of even date herewith <br />in favor of Century, encumbering the Property which will be recorded in the Official Records <br />("Century Deed"). <br />C. As a condition of making the Century Loan, Century requires that the Century <br />Deed be (and at all times remain a lien or charge upon the Property) prior and superior to all <br />rights of Lender under the Lender Deed, and all indebtedness secured thereby, and that <br />Page 1 of 9 <br />