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EXHIBIT 2 <br /> FREE RECORDING IN ACCORDANCE <br /> WITH CALIFORNIA GOVERNMENT <br /> CODE SECTION 27383 and 27388.1. <br /> RECORDING REQUESTED BY, AND <br /> WHEN RECORDED, MAIL TO: <br /> State of California <br /> Department of Housing and <br /> Community Development <br /> P. O. Box 952052 <br /> Sacramento, CA 94252-2052 <br /> Attn: Legal Affairs Division <br /> 18-NPLH-12673 <br /> SUBORDINATION AGREEMENT <br /> NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY <br /> INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY <br /> THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. <br /> THIS SUBORDINATION AGREEMENT (the "Agreement") is dated as of June 16, 2026, for <br /> reference purposes only, and is entered into by and among the Housing Authority of the City of <br /> Santa Ana, acting as the Housing Successor Agency, a public body, corporate and politic, (the <br /> "Junior Lienholder") and Shelter Providers of Southern California, Inc. DBA HomeAid Orange <br /> County Los Angeles, a California nonprofit public benefit corporation (the "Borrower"), and the <br /> Department of Housing and Community Development, a public agency of the State of California <br /> (the "Senior Lender"). <br /> RECITALS <br /> A. Borrower is the owner of the leasehold estate in that real property described in <br /> Exhibit A attached hereto and made a part hereof (the "Property"). The Borrower has acquired <br /> and constructed a 17 unit multifamily residential rental development on the Property (the <br /> "Improvements"). The Property and the Improvements are sometimes referred to collectively <br /> as the "Development." <br /> B. The Junior Lienholder has made a loan to the Borrower in the principal sum of <br /> One Million Six Hundred Fifty Six Thousand Nine Hundred Forty Seven and No/100 Dollars <br /> ($1,656,947.00) (the "Junior Lienholder Loan"). The Junior Lienholder Loan is evidenced by a <br /> certain promissory note (the "Junior Lienholder Note"), secured by a certain deed of trust (the <br /> NPLH R1 Subord. Agrmt Page 1 of 9 <br /> (NOFA—10/15/2018,Amended 10/30/2018) <br /> Rev:3/12/2024 <br /> Prep: 6/1/2026(Housing Authority of the City of Santa Ana Loan) <br /> Dev: Francis Xavier Residence <br /> Assessor's Identification Number:398-303-04,398-303-05,398-303-06 and 398-303-07 <br /> Loan No.: 18-NPLH-12673 <br />