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2 <br /> Amendment to City of Everett Community Development Block Grant ("CDGB") Loan <br /> Agreement("City Deed of Trust"); and' <br /> 2. Snohomish County, a political subdivision of the State of Washington ("County"), is the <br /> owner and holder of that certain Deed of Trust executed by Hope Village, dated May 13, 1997, <br /> and recorded June 20, 1997 under Snohomish County Auditor's File No. 9706200423; as <br /> amended by that certain Addendum to Deed of Trust dated on or about May 13, 1997, and <br /> recorded June 20, 1997 under Snohomish County Auditor's File No. 9706200424 ("County HTF <br /> Deed of Trust"); and as modified by that certain Loan Rider dated June 17, 1997, and recorded <br /> June 20, 1997 under Snohomish County Auditor's File No. 9706200425 ("County HTF Loan <br /> Rider"); and <br /> 3. Housing Hope ("Owner"), is the owner of the real property, legally described in attached <br /> Exhibit A (the "Property") encumbered by the City Deed of Trust and the County HTF Deed of <br /> Trust, which Property was conveyed to Housing Hope by Hope Village pursuant to that certain <br /> Bargain and Sale Deed dated as of the date hereof, and recorded 2012 <br /> under Snohomish County Auditor's File No. ; and <br /> 4. In consideration of certain benefits to Subordinator from Owner, receipt and sufficiency <br /> of which is hereby acknowledged, and to induce the County to consent to the conveyance of the <br /> Property by Hope Village to Housing Hope, identified in Paragraph 3 above, the Subordinator <br /> does hereby subordinate the lien of its City Deed of Trust, identified in Paragraph 1 above,to the <br /> lien of the County HTF Deed of Trust and the County HTF Loan Rider, identified in Paragraph 2 <br /> above, and all advances or charges made or accruing thereunder, including any extension or <br /> renewal thereof. However, the Subordinator does not subordinate its covenant running with the <br /> land restricting the Property to very low income households for the term of the commitment <br /> thereunder. <br /> 5. Subordinator acknowledges that, prior to the execution hereof, it has had the opportunity <br /> to examine the terms of the County HTF Deed of Trust and County HTF Loan Rider, and related <br /> documents, including without limitation the County HTF Deed of Trust, County HTF Loan <br /> Rider, promissory note(s) and agreements relating thereto, and recognizes that the County has no <br /> obligation to Subordinator under the County HTF Deed of Trust or the County HTF Loan Rider, <br /> and any application or use of such funds for purposes other than those provided for in such deed <br /> of trust,note or agreements shall not defeat the subordination herein made in whole or in part. <br /> 6. It is understood by the parties hereto that the County would not consent to the assignment <br /> and assumption between Housing Hope and Hope Village without this subordination. <br /> 7. This Subordination Agreement shall be the whole and only agreement between the parties <br /> hereto with regard to the subordination of the lien or charge of the City Deed of Trust above <br /> mentioned in favor of the County HTF Deed of Trust and County HTF Loan Rider above referred <br /> to, and shall supersede and cancel any prior agreements as to such, or any subordination <br /> SUBORDINATION AGREEMENT) PAGE 2 <br /> 12 <br />