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SUBORDINATE LENDER'S CONSENT AND WAIVER <br />City of Santa Ana ("Junior Lienholder") hereby (i) acknowledges all of the terms and <br />provisions of the foregoing First Amendment to Deed of Trust and Loan Documents <br />dated as of May 30, 2018, by and between Beneficiary and Trustor, that certain First <br />Amendment to Promissory Note dated as of even date herewith, by and between <br />Beneficiary and Trustor, and that certain Loan Purchase Agreement dated as of even date <br />herewith, by and among Trustor, Beneficiary and CCRC (collectively, the "Amendment <br />Documents"), (ii) acknowledges and agrees that the Subordination Agreement <br />("Subordination Agreement") dated as of March 1, 2016, among Trustor, Beneficiary <br />and Junior Lienholder, and recorded on March 16, 2016, as Instrument No. <br />2016000109374 in the Official Records, is and shall remain in full force and effect, and <br />that none of the terms of the Amendment Documents shall be construed to impair, or <br />provide a defense to, any of the terms and provisions contained in the Subordination <br />Agreement, (iii) acknowledges and agrees that the priority of the Deed of Trust shall not <br />be impaired as a result of either the Amendment Documents, and (iv) acknowledges and <br />agrees that lien or charge of the Deed of Trust shall at all times remain senior to the liens <br />or charges of the "Subordinate Loan Documents" described in the Subordination <br />Agreement; provided, however, except for Section 18 of the "Senior Affordability <br />Restrictions" (as defined in the Subordination Agreement), the "Senior Affordability <br />Restrictions" are not "Subordinate Loan Documents" and, except for Section 18 thereto, <br />the Senior Affordability Restrictions shall continue to be in senior position to the Deed of <br />Trust as provided in the Subordination Agreement. All capitalized terms used herein and <br />not otherwise defined shall have the meanings ascribed to such terms in the foregoing <br />Amendment. <br />[Signatures on Following Page] <br />(SUBORDINATE LENDER CONSENT — City of Santa Ana) <br />4838-5699-1071v.5 4900000-001785 <br />