HomeMy WebLinkAboutAGR-7450.0.2 - MERCY HOUSING CALIFORNIA 107, L.P. - SUBORDINATION AGREEMENTRecorded in Official Records, Orange County
Hugh Nguyen, Clerk-Recorder
Commonwealth Land Title Company 11111111111 111111111 III I II NO FEE
Q , 0, 2-R 0 0 1 5 9 6 5 7 0 $ *
FREE RECORDING IN ACCORDANCE 2025000353305 12:48 pm 12/22/25
WITH CALIFORNIA GOVERNMENT 868 Ex12A S13 13
CODE SECTION 27383 and 27388.1. 0.00 0.00 0.00 0.00 36.00 0.00 0.00 0.00 0.00 0.00
RECORDING REQUESTED BY, AND
WHEN RECORDED, MAIL TO:
State of California
Department of Housing and
Community Development
P. O. Box 952052
Sacramento, CA 94252-2052
Attn: Legal Affairs Division
20-NPLH-16208
9326OeSta-4'2
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY
THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT.
THIS SUBORDINATION AGREEMENT (the "Agreement") is dated as of December 18, 2025,
for reference purposes only, and is entered into by and among the City of Orange, a municipal
corporation of the State of California, (the "Junior Lienholder") and Mercy Housing California
107, L.P., a California limited partnership (the"Borrower"), and the Department of Housing and
Community Development, a public agency of the State of California (the"Senior Lender").
RECITALS
A. Borrower is the owner of the leasehold estate in that real property described in
Exhibit A attached hereto and made a part hereof(the "Property"). The Borrower has acquired
and is rehabilitating a 50-unit multifamily residential rental development on the Property (the
Improvements"). The Property and the Improvements are sometimes referred to collectively
as the "Development."
B. The Junior Lienholder has made a loan to the Borrower in the principal sum of
One Million Six Hundred Thousand and no/100 Dollars ($1,600,000.00) (the "Junior Lienholder
Loan"). The Junior Lienholder Loan is evidenced by a certain promissory note (the "Junior
Lienholder Note"), secured by a certain City Deed of Trust (the "Junior Lienholder Deed of
Trust") recorded on December 30, 2022, as Instrument No. 2022000421218, in the Official
Records of Orange County, California (the "Official Records"), which have subsequently also
NPLH R3 Subord.Agrmt Page 1 of 10
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
entered into a certain Assignment of Rents and Leases recorded on December 30, 2022, as
Instrument No. 2022000421219, in the Official Records, as additional security for the obligations
secured by the Deed of Trust (the "Assignment of Rents and Leases"). The Junior Lienholder
and Borrower have also entered into an Agreement Containing HOME Program Requirements,
affecting the use of the Development, recorded on December 29, 2022, as Instrument No.
2022000421038, in the Official Records (the "Junior Lienholder Regulatory Agreement"). The
Junior Lienholder and Borrower have also entered into an Agreement Containing Covenants,
affecting the use of the Development, recorded on December 29, 2022, as Instrument No.
2022000421039, in the Official Records (the "Junior Lienholder Covenant Agreement"). (The
Junior Lienholder Deed of Trust, the Assignment of Rents and Leases, and all other documents
evidencing or securing the Junior Lienholder Loan, but not the Junior Lienholder Regulatory
Agreement nor the Junior Lienholder Covenant Agreement, are collectively referred to herein
as the "Junior Lienholder Documents.")
C. In order to finance the development of the Improvements, the Senior Lender has
agreed to loan the Borrower a sum not to exceed Five Million Six Hundred Forty-One
Thousand Seven Hundred Twenty-Two and no/100 Dollars ($5,641,722.00), which
comprises of a certain No Place Like Home ("NPLH") Competitive Loan, in the amount of
Three Million Six Hundred Forty-One Thousand Seven Hundred Twenty-Two and no/100
Dollars ($3,641,722.00), and a certain NPLH Non-Competitive Loan, in the amount of Two
Million and no/100 Dollars ($2,000,000.00) (the "NPLH Loan"), subject to the terms and
conditions of: (i) a regulatory agreement restricting the use and occupancy of the Development
and the income derived therefrom which shall be dated as of even date herewith and recorded
concurrently herewith as an encumbrance on the Property in the Official Records (the "NPLH
Regulatory Agreement"), (ii) the Capitalized Operating Subsidy Reserve Agreement (the
COSRA") if applicable, and (iii) other loan documents. The NPLH Loan will be evidenced by a
promissory note (the "NPLH Note"), the repayment of which will be secured by, among other
things, a deed of trust by Borrower as trustor, to Senior Lender as beneficiary recorded
concurrently herewith as an encumbrance on the Property in the Official Records (the "NPLH
Deed of Trust") and by such other security as is identified in other loan documents. The NPLH
Regulatory Agreement, the COSRA, the NPLH Note, the NPLH Deed of Trust and all other
documents evidencing or securing the NPLH Loan are collectively referred to herein as the
Senior Lender Documents."
D. The Senior Lender is willing to make the NPLH Loan provided the Senior Lender
Documents are liens, claims or charges upon the Development prior and superior to the Junior
Lienholder Documents, and provided that the Junior Lienholder specifically and unconditionally
subordinates and subjects the Junior Lienholder Documents to the liens, claims or charges of
the Senior Lender Documents.
AGREEMENT
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NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and
other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and
in order to induce the Senior Lender to make its NPLH Loan, it is hereby declared, understood
and agreed as follows:
1. The Senior Lender Documents and any and all renewals, modifications,
extensions or advances thereunder or secured thereby (including interest thereon) shall
unconditionally be and remain at all times liens, claims, or charges on the Development prior
and superior to the Junior Lienholder Documents, and to all rights and privileges of the Junior
Lienholder thereunder, but not the Junior Lienholder Regulatory Agreement nor the Junior
Lienholder Covenant Agreement; and the Junior Lienholder Documents, together with all rights
and privileges of the Junior Lienholder thereunder, but not the Junior Regulatory Agreement
nor the Junior Lienholder Covenant Agreement, are hereby irrevocably and unconditionally
subject and made subordinate to the liens, claims or charges of the Senior Lender Documents.
2. This Agreement shall be the whole and only agreement with regard to the
subordination of the Junior Lienholder Documents, together with all rights and privileges of the
Junior Lienholder thereunder, to the liens, claims or charges of the Senior Lender Documents,
and this Agreement shall supersede and cancel any prior agreements to subordinate the claims,
liens or charges of, but only insofar as would affect the priority between the claims, liens or
charges of the Junior Lienholder Documents to the Senior Lender Documents including, but not
limited to,those provisions, if any, contained in the Junior Lienholder Documents, which provide
for the subordination of the lien or charge thereof to another lien or charge on the Property or
the Improvements.
3. The Junior Lienholder declares, agrees and acknowledges that:
a) The Junior Lienholder consents and approves (i) all provisions of the Senior
Lender Documents, and (ii) all agreements among the Junior Lienholder, Borrower and
Senior Lender for the disbursement of the proceeds of the NPLH Loan, including without
limitation any loan escrow agreements which have been provided to the Junior
Lienholder for review;
b) The Senior Lender, in making disbursements of the NPLH Loan pursuant to
the NPLH Note or any other agreement, is under no obligation or duty to, nor has the
Senior Lender represented that it will, see to the application of such proceeds by the
person or persons to whom the Senior Lender disburses such proceeds, and any
application or use of such proceeds for purposes other than those provided for in such
agreement or agreements shall not defeat the subordination herein made in whole or in
part;
c) That none of the execution,delivery or recordation of any of the Senior Lender
NPLH R3 Subord.Agrmt Page 3 of 10
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
Documents, or the performance of any provision, condition, covenant or other term
thereof, will conflict with or result in a breach of the Junior Lienholder Documents or the
Junior Lienholder Note; and
d) The Junior Lienholder intentionally and unconditionally waives, relinquishes,
subjects and subordinates the claims, liens or charges upon the Development of the
Junior Lienholder Documents, but not the Junior Lienholder Regulatory Agreement nor
the Junior Lienholder Covenant Agreement, all present and future indebtedness and
obligations secured thereby, in favor of the claims, liens or charges upon the
Development of the Senior Lender Documents, and understands that in reliance upon,
and in consideration of, this waiver, relinquishment, subjection, and subordination, the
NPLH Loan and advances thereof are being and will be made and, as part and parcel
thereof, specific monetary and other obligations are being and will be entered into which
would not be made or entered into but for said reliance upon this waiver, relinquishment,
subjection and subordination.
4. Senior Lender hereby agrees, but only as a separate and independent covenant of
the Senior Lender and not as a condition to the continued effectiveness of the covenants and
agreements of the Borrower and the Junior Lienholder as set forth herein, as follows:
a) Following a notice from the Senior Lender to the Borrower that a default or
breach exists under the terms of the Senior Lender Documents and each of them,
the Senior Lender shall promptly(but in no event later than the following business
day)send a copy of such notice to the Junior Lienholder and the Junior Lienholder
shall have the right, but not the obligation, to cure the default as follows:
i) If the default is reasonably capable of being cured within thirty (30)
days, as determined by the Senior Lender in its sole discretion, the
Junior Lienholder shall have such period to effect a cure prior to
exercise of remedies by Senior Lender under the Senior Lender
Documents, or such longer period of time as may be specified in the
Senior Lender Documents.
ii) If the default is such that it is not reasonably capable of being cured
within thirty (30) days, as determined by the Senior Lender in its sole
discretion, or such longer period if so specified, and if the Junior
Lienholder (a) initiates corrective action within said period, and (b)
diligently, continually, and in good faith works to effect a cure as soon
as possible, then the Junior Lienholder shall have such additional time
as is determined by the Senior Lender, in its sole discretion, to be
reasonably necessary to cure the default prior to exercise of any
remedies by Senior Lender.
NPLH R3 Subord.Agrmt Page 4 of 10
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
In no event shall Senior Lender be precluded from exercising remedies if its security
becomes or is about to become materially jeopardized by any failure to cure a default or the
default is not cured within ninety (90) days after the first notice of default is given, or such
longer period of time as may be specified in the Senior Lender Documents.
Nothing in this subparagraph (a) is intended to modify any covenant, term or condition
contained in the Senior Lender Documents, including, without limitation, the covenant
against creating or recording any liens or encumbrances against the Property without the
prior written approval of the Senior Lender.
b) The provisions of this paragraph 4 are intended to supplement, and not to
limit, waive, modify or replace, those provisions of law pertaining to notice and
cure rights of junior lenders including, without limitation, those set forth in
California Civil Code sections 2924b and 2924c.
5. The Senior Lender would not make the NPLH Loan without this Agreement.
6. This Agreement shall be binding on and inure to the benefit of the legal
representatives, heirs, successors and assigns of the parties.
7. This Agreement shall be governed by and construed in accordance with the laws
of the State of California.
8. In the event that any party to this Agreement brings an action to interpret or enforce
its rights under this Agreement, the prevailing party in such action shall be entitled to recover its
costs and reasonable attorneys' fees as awarded by the court in such action.
9. This Agreement may be signed by different parties hereto in counterparts with the
same effect as if the signatures to each counterpart were upon a single instrument. All
counterparts shall be deemed an original of this Agreement.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH
ALLOWS THE PERSON (OR ENTITY) OBLIGATED ON YOUR REAL PROPERTY
SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPENDED FOR OTHER
PURPOSES THAN IMPROVEMENT OF THE LAND TO THE EXTENT PERMITTED BY THE
TERMS OF THIS AGREEMENT.
Signatures follow on page 6 of this Subordination Agreement. The remainder of this
page is blank.]
NPLH R3 Subord.Agrmt Page 5 of 10
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth
above and agree to be bound hereby:
JUNIOR LIENHOLDER:
City of Orange,
a municipal corporation of the State of California
BY:
NAME: Jarad L. Hildenbrand
ITS: City Manager
ATTEST:
BY:`
Pamela A. Co eman, City Clerk
APPROVED AS TO FORM:
BY:4aVe
Na halie Adourian, City Attorney
Io 10
NPLH R3 Subord.Agrmt Page,/of yI
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
w '
Prep:4414+7'2A25.(City of Orange) / r1/2074'Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189
A notary public or other officer completing this certificate verifies only the Identity of the individual who signed the document
to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document.
State of California 1
County of 0 rit 17 9 ei 1
On I1.--11 - 2025 before me, 6hrigt) IIe • WAItov) Notkr, PUb)iG)
Date
r
Here Insert Name and Title of the Officer
personally appeared I A rid L . H i I d e h b rit h d
Namef Signel(af
who proved to me on the basis of satisfactory evidence to be the person -whose nam )0:re subscribed
to the within instrument and acknowlr•ed to me that a he/they executed the same in it her/their
authorized capacity(ii s)',and that by e/ er/their signat re on the instrument the person , .r the entity
upon behalf of which the person, acted,executed the instrument.
I certify under PENALTY OF PERJURY under the
laws of the State of California that the foregoing
Lr,'r.
4 CHRISTINE E.WALTON paragraph is true and correct.
Notary Public•California
I -_,*_ Orange County WITNESS myhand and official seal.Commission N 2446132
My Comm.Expires May 7,1021
r
Y LDCIMSignature
Place Notary Seal and/or Stamp Above Signature of Notary Public
OPTIONAL
Completing this information can deter alteration of the document or
fraudulent reattachment of this form to an unintended document.
Description of Attached Document
Title or Type of Document:
Document Date: er of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name: Signer's Name:
Corporate Officer-Title(s): 0 Corporate Officer-Title(s):
Partner- 0 Limited 0 General 0 Partner- 0 Limited 0 General
Individual 0 Attorn in Fact 0 Individual 0 Attorney in Fact
Trustee G ian or Conservator 0 Trustee 0 Guardian or Conservator
Other: Other:
Signer is Representi Signer Is Representing:
2019 National Notary Association
BORROWER:
Mercy Housing California 107, L.P.,
a California limited partnership
By: Mercy Housing California 107 LLC,
a California limited liability company
Its: General Partner
By: Mercy Housing Calwest,
a California nonprofit public benefit corporation
Its: Sole Member/Manager
By:Ul.g! etvvIf'o•
Erika Villablanca, Vice President
All signatures must be acknowledged]
NPLH R3 Subord.Agrmt Page 7 of 10
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
A notary public or other officer completing this
certificate verifies only the identity of the
individual who signed the document to which this
certificate Is attached, and not the truthfulness,
accuracy, or validity of that document.
STATE OF CALIFORNIA ss:
COUNTY OF Los Angeles
on December 19, 2025 before me, Marie Mansel a Notary Public,
Insert name and title of the officer)
personally appeared Erika Viliabianca
who proved to me on the basis of satisfactory evidence to be the pe ne whose name are
sub i ed to the within Instrument and acknowledged , e that he/ executed the same in
his he their authorized capacity s), and that by his a /their signature(j on the instrument the
person'), or the entity upon beh If of which the person acted, executed the Instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph
is true and correct.
WITNESS my hand and official seal.I MAR1E MAMSEI
u p.ty,,i;; COMM.#2414040 zW ``4 ii i NOTARY PUBLIC•CALIFORNIA (')
K' LOS ANGELES COUNTY l'"'
1 '`"`,_•:"% MY Comm.Expires August 27,2026 1
SIgnatur Kr l2/11O
Seal)
SENIOR LENDER:
Department of Housing and Community
Development, public ag cy of the State of California
By:
Anna Balan-Hodgkins, Closing Manager
All signatures must be acknowledged.]
NPLH R3 Subord.Agrmt Page 8 of 10
NOFA-Competitive NOFA of 10/23/20, Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the Individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or
validity of that document.
State of California
County of Sacramento
On December 18, 2025, before me, April V. Florez, a Notary Public
insert name and title of the officer)
personally appeared Anna Balan-Hodgkins
who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signature(s)on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, executed the Instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
APRIL V.FLOREZ
WITNESS my hand and official seal. NotaryPublic-California
z
I'" '
c Sacramento County
Commission p 2430129
My Comm.Expires Dec 11,2026
Signature i Seal)
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF ORANGE,
COUNTY OF ORANGE, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
A LEASEHOLD AS CREATED BY THAT CERTAIN LEASE DATED DECEMBER 29, 2022,
EXECUTED BY ST. JOSEPH COLLEGE OF ORANGE, A CALIFORNIA NONPROFIT
PUBLIC BENEFIT CORPORATION, AS LESSOR, AND MERCY HOUSING CALIFORNIA
107, L.P., A CALIFORNIA LIMITED PARTNERSHIP, AS LESSEE, AS REFERENCED IN
THE DOCUMENT ENTITLED MEMORANDUM OF AIR RIGHTS LEASE, WHICH WAS
RECORDED DECEMBER 29, 2022 AS RECORDING NO. 2022000421033, OF OFFICIAL
RECORDS, FOR THE TERM, UPON AND SUBJECT TO ALL THE PROVISIONS
CONTAINED IN SAID DOCUMENT, AND IN SAID LEASE, AS TO PARCEL 2A;
PARCEL 1:
PARCEL A:
THE BUILDING AND IMPROVEMENTS WITHIN THE AIRSPACE OF PARCEL 3 OF
PARCEL MAP NO. 2019-166, IN THE CITY OF ORANGE, COUNTY OF ORANGE, STATE
OF CALIFORNIA, AS PER MAP FILED IN BOOK 411, PAGES 39 TO 44, INCLUSIVE, OF
PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY,
WHICH BUILDING AND IMPROVEMENTS ARE AND SHALL REMAIN REAL PROPERTY.
PARCEL B:
RECIPROCAL EASEMENTS FOR INGRESS, EGRESS, SUPPORT, ENCROACHMENTS,
AND UTILITIES AS GRANTED IN THE DOCUMENT ENTITLED RECIPROCAL EASEMENT
AND MAINTENANCE AGREEMENT RECORDED DECEMBER 23, 2022 AS INSTRUMENT
NO. 2022000416809, OF OFFICIAL RECORDS, SUBJECT TO THE TERMS AND
CONDITIONS CONTAINED THEREIN.
PARCEL C:
AN EASEMENT FOR VEHICULAR AND PEDESTRIAN INGRESS, EGRESS, PARKING
UTILITIES AND RECREATION AS GRANTED IN THE DOCUMENT ENTITLED GRANT OF
EASEMENT AND MAINTENANCE AGREEMENT RECORDED DECEMBER 23, 2022 AS
INSTRUMENT NO. 2022000416808, OF OFFICIAL RECORDS, SUBJECT TO THE TERMS
AND CONDITIONS CONTAINED THEREIN.
NPLH R3 Subord.Agrmt Page 9 of 10
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208
PARCEL 2:
PARCEL A:
PARCEL 3 OF PARCEL MAP NO. 2019-166, IN THE CITY OF ORANGE, COUNTY OF
ORANGE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 411, PAGES 39 TO 44,
INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID
COUNTY.
EXCEPT THEREFROM THE BUILDING AND IMPROVEMENTS WITHIN THE AIRSPACE
OF PARCEL 3, WHICH BUILDING AND IMPROVEMENTS ARE AND SHALL REMAIN
REAL PROPERTY.
PARCEL B:
RECIPROCAL EASEMENTS FOR INGRESS, EGRESS, SUPPORT, ENCROACHMENTS,
AND UTILITIES AS GRANTED IN THE DOCUMENT ENTITLED RECIPROCAL EASEMENT
AND MAINTENANCE AGREEMENT RECORDED DECEMBER 23, 2022 AS INSTRUMENT
NO. 2022000416809, OF OFFICIAL RECORDS, SUBJECT TO THE TERMS AND
CONDITIONS CONTAINED THEREIN.
PARCEL C:
AN EASEMENT FOR VEHICULAR AND PEDESTRIAN INGRESS, EGRESS, PARKING
UTILITIES AND RECREATION AS GRANTED IN THE DOCUMENT ENTITLED GRANT OF
EASEMENT AND MAINTENANCE AGREEMENT RECORDED DECEMBER 23, 2022 AS
INSTRUMENT NO. 2022000416808, OF OFFICIAL RECORDS, SUBJECT TO THE TERMS
AND CONDITIONS CONTAINED THEREIN.
APN: 041-080-44 (PORTION); APN: 041-080-47 (PROPOSED)
NPLH R3 Subord.Agrmt Page 10 of 10
NOFA-Competitive NOFA of 10/23/20; Noncomp NOFA of 8/15/18 amended on 10/30/18,amended on October 23,2020)
Rev:3/12/2024
Prep: 12/17/2025(City of Orange)
Dev:Villa St Joseph
Assessor's Identification Number:041-080-44 and 041-080-47
Loan No.:20-NPLH-16208