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IIVJURANCE NOT REQUIRED <br />WORK MAY PROCEED <br />N CLERK OF COUNCIL' <br />DATE: <br />N <br />FREE RECORDING REQUESTED <br />�T PURSUANT TO GOVERNMENT CODE <br />`(r SECTION 27383 <br />O',eD�lti1 (CIaRE>CORDING REQUESTED BY AND <br />WHEN RECORDED RETURN TO: <br />City of Santa Ana, Clerk of the Council <br />20 Civic Center Plaza (M-30), P.O. Box 1988 <br />Santa Ana, California 92702 <br />&CS - 10 r a-1 -6 (space above this line for Recorder's use) <br />SUBORDINATION AGREEMENT <br />A-2021-055 <br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR <br />SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT <br />TO AND OF LOWER PRIORITY THAN THE LIEN(S) OF SOME <br />OTHER OR LATER SECURITY INSTRUMENT. <br />THIS AGREEMENT dated as of April 22, 2021 for informational purposes, is entered into by <br />and between City of Santa Ana, a charter city and municipal corporation (the "Locality"), North <br />Harbor Housing Partners LP, a California limited partnership ("Borrower"), and MUFG Union Bank, <br />N.A., a national banking association ("MUFG'), in connection with a loan by the Locality to Borrower <br />to finance a multifamily residential rental housing project on real property located in the City of Santa <br />Ana, County of Orange, California and more particularly described on Exhibit A attached hereto and <br />incorporated herein by this reference ("Project"). Unless otherwise noted, references to instruments <br />recorded in "Official Records" refer to instruments recorded in the Office of the County Recorder of <br />the County of Orange. <br />RECITALS <br />A. WHEREAS, Borrower and the Locality have or will encumber the Project with the <br />following documents related to the financing and/or development of the Project: <br />1. That certain Affordability Restrictions on Transfer of Property dated as of <br />April 20, 2021 (the "Locality Regulatory Agreement' ) by and between the Locality and the Borrower <br />to be recorded in the Official Records substantially concurrently herewith; <br />2. A CDBG Loan Agreement dated as of April 20, 2021 (the "Locality Loan <br />Agreement") by and between the Locality and the Borrower, recorded an Afril _, 292i in the <br />cdrevrr.A "r securing a loan by the Locality to the Borrower <br />(the "Locality Loan"); <br />3. A City CDBG Deed of Trust and Assignment of Rents dated as of April 20, <br />2021 (the "Locality Deed of Trust") by and between the Locality, as beneficiary, and the Borrower, <br />2045/020587-0138 <br />16400554.2 <br />