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SUBORDINATE LENDER'S CONSENT AND WAIVER Department of Housing and Community Development, a public agency of the State of California ("Junior Lienholder") hereby (i) acknowledges all of the terms and provisions of the foregoing First Amendment to Deed of Trust and Loan Documents dated as of May 30, 2018, by and between Beneficiary and Trustor, that certain First Amendment to Promissory Note dated as of even date herewith, by and between Beneficiary and Trustor, and that certain Loan Purchase Agreement dated as of even date herewith, by and among Trustor, Beneficiary and CCRC (collectively, the "Amendment Documents"), (ii) acknowledges and agrees that the Subordination Agreement ("Subordination Agreement") dated as of March 1, 2016, among Trustor, Beneficiary and Junior Lienholder, and recorded on March 16, 2016, as Instrument No. 2016000109375 in the Official Records, is and shall remain in full force and effect, and that none of the terms of the Amendment Documents shall be construed to impair, or provide a defense to, any of the terms and provisions contained in the Subordination Agreement, (iii) acknowledges and agrees that the priority of the Deed of Trust shall not be impaired as a result of the Amendment Documents, and (iv) acknowledges and agrees that lien or charge of the Deed of Trust shall at all times remain senior to the liens or charges of the "Infill Grant Documents" described in the Subordination Agreement. All capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the foregoing Amendment. Dated: May 30, 2018 DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT By: Name: Title: (SUBORDINATE LENDER CONSENT - HCD) 4838-5699-1071v.5 4900000-001.785