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`i? a z E �a agreement was entered into June 29, 2016 between the City and Owner, recorded July 22, 2016 as Instrument No. 2016000336219 in the Orange County Recorder's Office and subsequently was amended pursuant to that First Amendment to Lien Agreement dated May 10, 2017 and recorded August 3, 2017 as Instrument No. 2017000320960 (as so amended, the "Lien Agreement") . By the Lien Agreement, Owner granted to City a lien upon the property ("Property") described in Exhibit A to the Lien Agreement, as security for the construction of improvements specified in Exhibit B to the Lien Agreement, E. Pursuant to Section LC of the Lien Agreement, as a condition of obtaining a building permit from the City for any construction on the Property, Owner has substituted other forms of security reasonably satisfactory to the City in place of the Lien Agreement along with an executed replacement subdivision improvement agreement between Owner and the City. This new security is referred to in the Lien Agreement as Replacement Security. F. Pursuant to Section II.A. of the Lien Agreement, following the City's receipt of the Replacement Security, the Property shall be automatically released from the Lien Agreement and, upon Owner's request, the City shall execute a release to enable the Owner or its transferee to clear the Property's record of title of the Lien Agreement. NOW, THEREFORE, pursuant to Sections I.C. and II.A. of the Lien Agreement, the City acknowledges that the Owner has provided Replacement Security to the City in place of the Lien Agreement, which Replacement Security is acceptable to the City, and has executed a Replacement Subdivision Improvement Agreement. Therefore, the City hereby releases the Owner from the Lien Agreement and agrees that this Release of Lien Agreement may be immediately recorded in the Orange County Recorder's office. 110629,() .00 171942-00001;11-7-I7/w,d:w,d -3-