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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 June 4, 1997, and <br /> recorded June 20, 1997 under Snohomish County Auditor's File No. 9706200418; as amended <br /> by that certain Addendum to Deed of Trust dated on or about June 20, 1997, and recorded <br /> June 20, 1997 under Snohomish County Auditor's File No. 9706200419 ("County HOME Deed <br /> 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. 9706200420 ("County HOME 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 HOME Deed <br /> of 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 HOME Deed of Trust and the County HOME Loan Rider, identified in <br /> Paragraph 2 above, and all advances or charges made or accruing thereunder, including any <br /> extension or renewal thereof. However, the Subordinator does not subordinate its covenant <br /> running with the land restricting the Property to very low income households for the term of the <br /> commitment thereunder. <br /> 5. Subordinator acknowledges that, prior to the execution hereof, it has had the opportunity <br /> to examine the terms of the County HOME Deed of Trust and County HOME Loan Rider, and <br /> related documents, including without limitation the County HOME Deed of Trust, County <br /> HOME Loan Rider, promissory note(s) and agreements relating thereto, and recognizes that the <br /> County has no obligation to Subordinator under the County HOME Deed of Trust or the County <br /> HOME Loan Rider, and any application or use of such funds for purposes other than those <br /> provided for in such deed of trust, note or agreements shall not defeat the subordination herein <br /> 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 HOME Deed of Trust and County HOME Loan Rider above <br /> SUBORDINATION AGREEMENT) PAGE 2 <br /> 18 <br />