22-164 Subordination Agreement, Sima Golchaman and Wells Fargo Bank, 20488 Stevens Creek Blvd #1306, APN 369-53-094RECORDING REQUESTED BY
Cornerstone Title Company
AND WHEN RECORDED MAIL DOCUMENT TO:
CITY OF CUPER'nNO
10300 TORRE AVENUE
CUERPTINO CA 95014
CITY MANAGER
A.P.N.: 369-53-094
25389259
Regina Qlcomendras
Santa Clara County Clerk-Recorder
lel/2(!)/2e22 e3 13 PH
Titleti: 1 Pages: le
Fees : $0. Oel
Taxes : %D
Total : %fl
Space Above This Line for Recorder's Use Only
File No.: 3630322-01845 (MCV)
SUBORDINATION AGREEMENT
SEPARATE PAGE PURSUANT TO GOVT CODE 27361.6
RECORDING REQUESTED BY:
AND WHEN RECORDED MAIL TO:
City of Cupertino
10300 Torre Avenue
Cupertino, CA 95014
Attention: City Manager
No fee for recording pursuant to
Government Code Section 27383
(SPACE ABOVE TI{IS LINE FORRECORDER'S USE)
SUBORDINATION AGREEMENT
(CITY TO LENDER)
NOTICE:THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
INTEREST IN AND RESTRICTIVE COVENANTS AFFECTING THE
PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY
THAN THE LIEN OF SOME OTHER OR LATER SECURITY
INSTRUMENT AND RESTRICTIVE COVENANTS.
"City"), Golcliaman. a sJ (the "Owner") and Wells Fargo Bank, N.A. (the
"Lender"
RECIT ALS
A. Owner is the fee simple owner of that ceitain real property located at 20488
Stevens Creek Blvd #1306, Cupertino, Califoriiia, as more paiticularly described in
attached hereto (tlie "Properiy"), which is a below market rate unit restricted under tlie City's
Below Market Rate Housing Program.
B. In connection with tlie Owner's purcliase of the Property, tlie City and the Owner
entered into the following documents:
(i) That ceitain Occupancy, Refinancing, ai'id Resale Restriction Agreement
records of Santa Clara County (tl'ie "Official Records") on (O f2 D ( 201?- as DocumentNo,
ZS% 3Cj25&
(ii) That ceitain Promissotay Note dated as oflO 1(-l 2J- , executed by
Owner for tlie benefit of the City (the "City Promissory Note"); and
394109U 137609 2
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monetary obligations are being entered into whicli would not be made or entered into but for said
reliance upon this waiver, relinquisliment and subordination. Lender acknowledges and agrees
for the benefit of tlie City that the City Resale Restriction Agreement sliall unconditionally be
and at all times remain an encumbrance on the Property prior and superior to the rights of Lender
under the Lender Documents. Lender intentionally and unconditionally subordinates all of
Lender's right, title and interest in and to the Lender Documents to the encumbrai'ice of tlie City
Resale Restriction Agreement.
3. Lender covenants arid agrees that iii the event tliat Lender delivers to Owner a notice
of default under tlie Lender Documents, Lender shall deliver to the City a copy of said notice
concurrently with deliveryy to Owner, and tlie City shall have the right (but not the obligation) to
cure any or all defaults specified in said notice for a period of ninety (90) days after tl'ie date of
sucl'i notice, and Lender hereby agrees to accept all payments and all acts done by the City on
behalf of Owner within tlie cure period specified lierein as though tlie same liad been timely done
and performed by Owner, so tliat sucli acts and payments shall fully and totally cure and correct
all such defaults, breaches, failures or refusals for all purposes.
4. As a condition for approval of tliis subordination, a request for notice of default and
notice of sale regarding tlie First Loan sliall be recorded in the Official Records for tlie benefit of
the City.
5. With regard to the priority of the deeds of trust described herein, this Agreement
sliall be the sole and only agreeinent with regard to the subordination of the lien of tlie City
Documents to tlie liens, claims or charges of the Lender Documents and shall supersede and
cancel any prior agreements as to sucli subordination including, but not limited to, those
provisions, if any, contained in tlie City Documents, which provide for tlie subordination of the
restrictions contained tlierein to anotlier deed or deeds of trust or to another mortgage or
mortgages or to another regulatory agreement.
6. This Agreement shall be liinding on and inure to the benefit of the legal
representatives, }ieirs, successors and assigns of the paities.
7. This Agreement sliall be governed by and construed in accordance with tlie laws of
the State of California.
8. If any of the provisions or terms of tliis Agreement shall for any reason be }ield
invalid or unenforceable, such invalidity or unenforceability shall not affect any other of the
terms hereof, and this Agreen'ient shall be construed as if such unenforceable term had never
been contained herein.
9. This Agreement may be signed by different paities liereto in counterparts, each of
which shall be deemed an original but all of whicli together shall constitute one and the san'ie
agreement.
[Signatures on following page]
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CAI_,IFORNIA ALL-PURPOSE CERTIFICATE OF ACKNOWLEDGMENT
A notai'y public or otlier offlccr complcting this certificate verifies only tlie identity of the individual who signed thc document to
which this certificate is attached, and not the trutlxfulness, accuracy, or validity of that document.
State of California
CO llntV of Santa Clara
Cyrah CaburianOn October10, 2022 before me, . Notary Public,
(Here insert name and title of the officer)
personally appeared Pame'a Wu
who proved to me on the basis of satisfactotay evidence to be the person% whose named is subscribed to
the within instrument and acknowledged to me that sleAhey executed the same in hWher authoiized
capacity(, and that by herA- signature% on the instrument the person%, or the entity upon behalf of
which the person% acted, executed the insttaument.
I ceitify under PENALTY OF PERJURY under the laws of the State of Califoiia that the foregoing paragraph
is ttaue and correct.
____,20 i,'i"-=",2:i.=":4=Ji
WITNESS pal seal. ' W c;;;i;sr;;'s-zYiinoz a 3 "'ay comm. Expires iiov i9. zozs t {Ni'i+gyiQpiiTl o""""''
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ADDITIONAL OPTIONAL INFORMATION
INSTRUCTIONS FOR COMPLETING 'n-IIS FORM
Any acknou4edgment completed in California must contain rierbrage exactly as
DESCRIPTION OF THE ATTACHED DOCUMENT appears above in tlie notary section or a separate acknosvledgrnentform must be
pr-operl)i completed (Ill(/ mmched to tliat docwnenr. The only exception is Hj' a
document is to be recorded outside oJ'CaNfornia. In such insrarices. any dternmive
aCK1lOWleagmelu VerDlage (JS I}l(JJI Lie pl-lnle[l On 811(:71 a [lOClllllell[ SO kOllg aS [ne
(Title o" desc"p('o" ol'a""ed do"'ll'lleno verbiage does not require the notary to do something tliat is iilegal for a notary in
Cald6rnia (r.e. cerl-Jving the authorized capacit>' oJ'the srgner). Please check the
(Tll,e Or des cri ptio n O f atiac hed d O cllille, c o n , ue a) n O Cltmell{ Ca re fllllJJOl' pl-ape r nOrarlal WOralng (m(l (7{{(7C n {lllSJOl'lll 07 l'eqll[l-ea.
* State and COtlntd tntot'matlorl llluSt be tlle State and COunt){ where the docuinent
Nulnber of Pages - Doculnen' Da'e signer(s) personally appeared before the notaty public for acknowledginent.
ii Date of notarization must be the date that the signer(s) personally appeared which
niust also be the saute date the acknowledgnient is completed.
(Additional infonnation) * Tbe notaty public must print his or her name as it appears within his or her
couunission followed by a conuna and then your title (notaiy public).
* Pi'int tlie natne(s) ot docuinent signer(s) who personally appear at the time ot
notarization.
C APACITY CL AIMED By THE SIGNER * }ndicate the correct singular or plural foams by crossing off inco+rect fonns (i.e.
he/sheAhey,- is /ew ) or circling the correct fonns. Failure to conectly indicate tliis€ Illd"dua'(s) infonnationinayleadtorejectionofdocumentrecording.
0 Corporate Officer * The nOtaiy seal iinpression muSt be clear and lihotographically reliroducible.
Impression n'iust not cover text or lines. If sea} impression sinudges, re-sea} if a
(Title) sufficient area pennits, otbei'wise coniplete a different acknowledgment fonn.
[1 Pa,net,(s) * Signature of the notary public inust inatch the signature On file with the office ofthe county clerk.
0 Attontey"tn-Fact *:' Additional infoimation is net required but could help to endure this
[]Trustee(s) acknowledginentisnotmisusedorattachedtoadifferentdocunient.
z Other a> Indicate title or type of attached document, number of pages and date.
- ",' lna}Cate [ne CapaClt)t Clallnea DY tne Slgnerl it tne Clalllle(l CapaClt7 15 a
corporate officer, indicate the title (i.e. CEO, CFO, Secretary).
ii Securely attacli this docuinent to the signed document
C 21)04-2015 Pml.iiik Siglllng Sel'Vl(e, {11t - All Right} ReierVed IVWW Tllel'r[lLlllk COnl - N=ltlOllWlde NOla+7 SerVlte
A notary public or otl'xer officer completing tliis certificate verifies only the
identity of the individual who signed the document to wliich tliis ceitificate is
attached, and not the truthfulness, accuracy, or validity of tl'iat document.
ST ATE OF CALIFORNIA
cou'nryop =S'amR ()(L
On xoli't%s+
personally appearedS'imm
, before me, , Notary Public,
(-'ir>%Qo/.lf(\!,i"1 ,whoprovedtomeonthebasisofsatisfactory
evidence to be the person(s) wliose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/slie/tliey executed the same in his/her/their authorized capacity(ies),
and that by liis/her/their signature(s) on the instrru'nent the person(s), or tlie entity upon behalf of
wliich tlie person(s) acted, executed the iiistrument.
I ceitify UNDER PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WIaINESS my )iand and official seal.
H,MenJq
Notatay Public
39410913137609 2
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t
A notary public or other officer coi'npleting tliis ceitificate verifies only tlie
identity of the individual wlio signed tlie document to which this certificate is
attaclied, and not the truthfulness, accuracy, or validity of tliat document.
STATEOFC
COUNTYOF t/6kiePz,u
evidence to be the person(s) wliose name(s) is/are subscribed to the within instrument and
acla'iowledged to me that he/she/they executed tlie same in his/her/tlieir authorized capacity(ies)
and that by his/her/their signature(s) on the instrument the person(s), or the entity upon belialf of
which the person(s) acted, executed the instrument.
l ceitify 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.
Name: ,[.4ycrthec .4tt(5,a) S-ricl
Notary Public
MYCOMMISSION EXPIFIES 01/31/26
394'i09Ul37609 2
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