HYBRID MEETING
www.Cityofvallejo.net
CALL AND NOTICE OF SPECIAL
MEETING AT 6:30 PM OF THE
VALLEJO CITY COUNCIL AS THE
GOVERNING BOARD OF THE
SUCCESSOR AGENCY TO THE
FORMER VALLEJO REDEVELOPMENT
AGENCY
JANUARY 13, 2026
Council Chambers
555 Santa Clara Street
Vallejo, CA 94590
BOARD
Andrea Sorce (Chair)
Peter Bregenzer (Vice Chair)
Helen-Marie Gordon
Tonia Lediju, PhD
Alexander Matias
Diosdado "JR" Matulac
Charles Palmares
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TO THE MEMBERS OF THE VALLEJO CITY COUNCIL AS GOVERNING BOARD OF THE SUCCESSOR AGENCY TO THE FORMER VALLEJO REDEVELOPMENT AGENCY:
You are hereby notified that I do hereby call the Vallejo City Council as Governing Board of the Successor Agency to the former Vallejo Redevelopment Agency in special session to consider only the matters stated on the agenda listed below.
1. CALL TO ORDER
2. ROLL CALL
3. PRESENTATIONS AND COMMENDATIONS
4. CONSENT CALENDAR AND APPROVAL OF AGENDA
5. ACTION CALENDAR
NOTICE: Members of the public wishing to address the Successor Agency on Action Calendar Items may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM (https://ZoomRegular.Cityofvallejo.net), or via phone, by dialing (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press *9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. Each speaker is limited to five minutes pursuant to Vallejo Municipal Code Section 2.02.420 or as approved and announced by the Mayor. In person speakers will be recognized first
A. ADOPT A RESOLUTION APPROVING THE PROPOSED SUBORDINATION
AGREEMENT TO THE AFFORDABLE HOUSING COVENANT TO ALLOW
FOR THE REFINANCING AND REHABILITATION OF MARINA TOWERS
ANNEX, A SENIOR HOUSING PROJECT
Recommendation: Adopt a Resolution approving the proposed subordination agreement to the affordable housing covenant to allow for the refinancing and rehabilitation of Marina Towers Annex, a senior housing project.
Contact: Alicia M. Jones, Housing Director (707) 648-4408 [email protected]
6. ADJOURNMENT
ADDITIONAL CITY INFORMATION
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Dated: Tuesday, January 6, 2026
Andrea Sorce, Mayor
I, Dawn Abrahamson, City Clerk do hereby certify that I have caused a true copy of the above notice and agenda to be delivered to
Andrea Sorce (Chair)
Peter Bregenzer (Vice Chair)
Helen-Marie Gordon
Tonia Lediju, PhD
Alexander Matias
Diosdado "JR" Matulac
Charles Palmares,
at the time and in the manner prescribed by law and that this agenda was posted at City Hall, 555 Santa Clara Street, CA at 4:30 p.m., Tuesday, January 6, 2026.
Dated: Tuesday, January 6, 2026
ACTION ITEM 5.A.
DATE: January 13, 2026
TO: Chair and Members of the Successor Agency
FROM: Alicia M. Jones, Housing Director
SUBJECT: ADOPT A RESOLUTION APPROVING THE PROPOSED SUBORDINATION
AGREEMENT TO THE AFFORDABLE HOUSING COVENANT TO ALLOW FOR THE
REFINANCING AND REHABILITATION OF MARINA TOWERS ANNEX, A SENIOR
HOUSING PROJECT
RECOMMENDATION
Adopt a Resolution approving the proposed subordination agreement to the affordable housing covenant to allow for the refinancing and rehabilitation of Marina Towers Annex, a senior housing project.
REASONS FOR RECOMMENDATION
Marina Towers Annex is a housing development that provides low-income housing for seniors. The Marina Annex Housing Partners, LP (Owner) has received an award for federal low-income housing tax credits and in order to obtain the federal tax credits, the Owner intends to refinance the property through: (i) a loan provided by Fannie Mae, and: (ii) a loan provided by the U.S. Department of Housing and Urban Development (HUD), which will allow the Owner to provide significant project upgrades. To obtain the loan provided by Fannie Mae, the lender requires subordination of the affordable housing covenant to the loan documents. The subordination agreement provides notice and specific performance provisions which will help ensure that the current 40-year affordability period of the affordability covenant will remain in effect until the expiration date of the agreement.
BACKGROUND AND DISCUSSION
Marina Annex Housing Partners, LP, a Delaware limited partnership (the "Owner"), is the Owner of the multifamily affordable apartment complex commonly known as Marina Towers Annex (the "Project"), located at 575 Sacramento St. in the City of Vallejo, California (the "City"). The Marina Towers Annex consists of 57 units reserved for seniors 62 years of age and older. The average age of the residents is 78 years old.
Marina Towers Annex was constructed in 1973 and has not had a major renovation since 2001. Significant repairs are needed throughout the interior and exterior of the buildings, and Wilshire Pacific Builders has been engaged by the Owner to prepare a rehabilitation cost plan which totals over $5.1 million ($90,000+ per unit).
Some of the renovation highlights include replacement of all major systems like windows, roofing, HAVAC; full unit upgrades including new flooring, painting, appliances, doors, cabinets, and countertops; and upgrades to the elevator and fire alarm systems to meet the current code. The numbers of units meeting full section 504 compliance will increase from 3 to 14 upon completion of the renovation. The rehabilitation will be completed with minor disruption to the residents and will significantly enhance their quality of life in the long term.
The Successor Agency to the former Redevelopment Agency of the City of Vallejo is being requested to approve subordination of the Affordable Housing Covenant recorded as document number 2001-00145162 in the Solano County, California records office, to Owner's Fannie Mae loan in the amount of $9 million dollars. The original loan executed between the previous owner of the Project and the former Redevelopment Agency of the City of Vallejo in the amount of $420,000 has been paid in full.
Date: January 13, 2026
Subject: ADOPT A RESOLUTION APPROVING THE PROPOSED SUBORDINATION
AGREEMENT TO THE AFFORDABLE HOUSING COVENANT TO ALLOW FOR THE
REFINANCING AND REHABILITATION OF MARINA TOWERS ANNEX, A SENIOR
HOUSING PROJECT
FISCAL IMPACT
This action has no fiscal impact to the City's General Fund, as all loans owed to the City have been paid in full.
ENVIRONMENTAL REVIEW
This action is exempt from the California Environmental Quality Act (CEQA) because it is not a project which has a potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, pursuant to CEQA Guideline section 15378.
ATTACHMENTS
1. Resolution Approving Proposed Amendments to the Affordable Housing Covenant of Marina Towers Annex_CAO Stamp
2. Exhibit A - Marina Towers Annex- Subordination Agreement
3. Annex Afford Housing Covenant
CONTACT
Alicia M. Jones, Housing Director (707) 648-4408
[email protected]
RESOLUTION NO.
A RESOLUTION OF THE SUCCESSOR AGENCY TO THE FORMER
REDEVELOPMENT AGENCY OF THE CITY OF VALLEJO
APPROVING THE PROPOSED AMENDMENTS TO THE AFFORDABLE
HOUSING COVENANT TO ALLOW FOR THE REFINANCING AND
REHABILITATION OF MARINA TOWERS ANNEX, A SENIOR
HOUSING PROJECT
WHEREAS, Marina Annex Housing Partners, LP, a Delaware limited partnership (the “Owner”) owns the multifamily affordable apartment complex commonly known as Marina Towers Annex (the “Project”); and
WHEREAS, the Project, located at 575 Sacramento Street, provides low-income housing for seniors 62 years and older; and
WHEREAS, pursuant to Section 42 of the Internal Revenue Code (the “Code”) the Project received an award for federal low-income housing tax credits (the, “Federal Tax Credits”), and in order to obtain the Federal Tax Credits, the Owner intends to refinance the property through: (i) a loan provided by Fannie Mae (“Fannie Mae”), and (ii) a loan provided by the U.S. Department of Housing and Urban Development’s (“HUD”) Green and Resilient Retrofit Program (“GRRP”); and
WHEREAS, the Project is subject to an Affordable Housing Covenant recorded on December 11, 2001, by and between the former Redevelopment Agency of the City of Vallejo, and the Owner’s predecessor in interest, Marina Annex Associates, a California limited partnership (the “Affordable Housing Covenant”); and
WHEREAS, the Owner has requested a subordination to the Affordable Housing Covenant to include the Fannie Mae Subordination Agreement; and WHEREAS, in December 2001, a loan was executed between the previous owner of the Project and the former Redevelopment Agency of the City of Vallejo in the original amount of $420,000, with an affordability period of forty years expiring in December 2041, which loan has been paid in full.
NOW, THEREFORE, BE IT RESOLVED, by the Successor Agency to the former Redevelopment Agency of the City of Vallejo as follows:
1. The Successor Agency to the former Redevelopment Agency of the City of Vallejo hereby approves the Subordination Agreement to the Affordable Housing Covenant attached hereto as Exhibit A and incorporated herein by reference.
BE IT FURTHER RESOLVED, the City Manager is hereby authorized to execute any and all documents necessary to effectuate the foregoing.
2 PASSED AND ADOPTED by the Successor Agency to the former Redevelopment Agency of the City of Vallejo this ________ day of _____________ 2026.
AYES:
NOES:
ABSTAIN:
ABSENT:
Attest:
By:
Secretary
EXHIBIT A
FANNIE MAE SUBORDINATION AGREEMENT – ATTACHED
40989091v3
Subordination Agreement (Governmental Entity)
Marina Towers Annex
Prepared by, and after recording
return to:
Vallejo Housing Authority
505 Santa Clara Street
Vallejo, CA 94590
Attention: Housing Director
City Clerk
555 Santa Clara Street
Vallejo, CA 94590
SUBORDINATION AGREEMENT
GOVERNMENTAL ENTITY
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page 1
SUBORDINATION AGREEMENT GOVERNMENTAL ENTITY FOR REGULATORY
AGREEMENT
REGULATORY AGREEMENT ONLY/NO SUBORDINATE DEBT
THIS SUBORDINATION AGREEMENT FOR REGULATORY AGREEMENT (this “Agreement”) is effective as of the ___ day of January, 2026, among and between the VALLEJO HOUSING AUTHORITY, a public body (“VHA”), THE SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF VALLEJO (“Successor Agency”), and MARINA ANNEX HOUSING PARTNERS, LP, a Delaware limited partnership (“Borrower”), for the benefit of LUMENT REAL ESTATE CAPITAL, LLC, a Delaware limited liability company, its successors and assigns (“Lender”). The VHA and Successor Agency shall be collectively referred to herein as “Governmental Entity”.
RECITALS:
A. Simultaneously herewith Lender is making a loan to Borrower in the original principal amount of $[9,000,000] (“Loan”) pursuant to a Multifamily Loan and Security Agreement between Lender and Borrower (as supplemented or amended from time to time, the “Loan Agreement”) and evidenced by a Multifamily Note by Borrower to Lender (as supplemented or amended from time to time, the “Note”). The Loan is to be secured by a Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing that will be recorded among the records of Solano County, California (“Official Records”) (as supplemented or amended from time to time, the “Mortgage”) of certain improved real property located in Vallejo, Solano County, California, as more particularly described on Exhibit A attached hereto (“Property”). The Loan Agreement, the Note and the Mortgage, together with all other documents executed with respect to the Loan, are hereinafter collectively referred to as the “Loan Documents”.
B. In connection with the construction and development of the Property, Borrower entered into a certain Affordable Housing Covenant dated as of December 4, 2001 (“Regulatory Agreement”) in favor of the Governmental Entity, which was recorded as Document No. 2001- 00145162 in the Official Records, pursuant to which the Property was subjected to certain restrictions by Governmental Entity.
C. As a condition to making the Loan, Lender requires that the lien of the Mortgage be superior to the lien of the Regulatory Agreement. Lender will not make the Loan unless Governmental Entity and Borrower agree to subordinate their rights and obligations under the Regulatory Agreement.
E. Borrower and Governmental Entity hereby agree to subordinate the Regulatory Agreement on and subject to the terms, conditions and requirements set forth in this Agreement.
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page 2
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, the parties agree as follows:
1. Recitals. The foregoing Recitals are hereby incorporated into this Agreement as agreements among the parties.
2. Subordination. The Governmental Entity hereby agrees that the Regulatory Agreement is and shall at all times continue to be, subordinate, subject and inferior to the rights of Lender under the Loan Documents and that the liens, rights (including approval and consent rights), remedies, payment interests, priority interests, and security interests granted to Governmental Entity pursuant to or in connection with the Regulatory Agreement are hereby expressly acknowledged to be in all respects and at all times, subject, subordinate and inferior in all respects to the liens, rights (including approval and consent rights), remedies, payment, priority and security interests granted to Lender pursuant to the Loan Documents and the terms, covenants, conditions, operations and effects thereof. Notwithstanding the above, Governmental Entity may exercise the remedies of specific performance or injunctive relief at any time in the event of a default under or breach of the terms of the Regulatory Agreement.
3. Financing, Encumbrance and Approval. Governmental Entity hereby approves and acknowledges the financing evidenced by the Mortgage. Governmental Entity further agrees that any transfer of the Property in connection with foreclosure of the Mortgage or a deed in lieu thereof shall not require Governmental Entity’s consent but shall require notice to Governmental Entity.
4. Reserved.
5. Lender Notice of Default. In consideration of Governmental Entity’s agreements contained in this Agreement, Lender agrees that in the event of any default by Borrower under the Loan Documents, Governmental Entity shall be entitled to receive and shall be given a copy of any notice of default given by Lender to Borrower under the Loan Documents. Neither the giving nor the failure to give a notice to Governmental Entity pursuant to this Section 5 will affect the validity of any notice given by Lender to the Borrower.
6. Governmental Entity Notice of Default. Governmental Entity shall give Lender a concurrent copy of each material notice (including without limitation each notice of default) given by Governmental Entity under or with respect to the Regulatory Agreement, and agrees that Lender, at Lender’s sole election, shall have the right (but not the obligation) to cure any default by Borrower under the Regulatory Agreement on its and/or Borrower’s behalf. Governmental Entity hereby represents that, to the best of its knowledge, there is no current default under the Regulatory Agreement.
7. Governmental Entity's Rights. Except as set forth in Sections 2 and 8 of this Agreement, nothing in this Agreement is intended to abridge or adversely affect any right or obligation of Borrower and/or Governmental Entity, respectively, under the Regulatory Agreement; provided that, (A) the Regulatory Agreement may not be modified, amended, changed or otherwise altered without the prior written consent of Lender so long as the Loan is secured by the Property and (B) for so long as the Loan is secured by the Property, notwithstanding the terms
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page 3
of the Regulatory Agreement to the contrary, neither Borrower nor Governmental Entity will, without Lender’s prior written consent, exercise or seek any right or remedy under the Regulatory Agreement or available at law or in equity which will or could result in (i) a transfer of possession of the Property or the control, operations or management thereof, (ii) the collection or possession of rents or revenues from or with respect to the Property by any party other than Borrower or Lender; (iii) appointment of a receiver for the Property; (iv) the application of insurance or condemnation proceeds other than as approved by Lender pursuant to the Loan Documents; (v) the removal or replacement of the existing property manager of the Property; (vi) a material adverse effect on Lender’s security for the Loan or (vii) placing a lien on the Property.
8. Foreclosure by Lender. In the event of foreclosure, deed in lieu of foreclosure, or similar disposition of the Property by Lender, no consent shall be required from Governmental Entity. Governmental Entity shall have the right, but not the obligation, to cure any such Loan Default within sixty (60) days following the date of such Default Notice or the date on which Governmental Entity otherwise acquires actual knowledge of the Loan Default; provided, however, that Lender shall be entitled during such sixty (60) day period to continue to pursue its remedies under the Loan Documents. Governmental Entity may have up to ninety (90) days from the date of the Default Notice to cure a non-monetary default if during such ninety (90) day period Governmental Entity keeps current all payments required by the Loan Documents. In the event that such a non-monetary default creates an unacceptable level of risk relative to the Mortgaged Property, or Lender’s secured position relative to the Mortgaged Property, as determined by Lender in its sole discretion, then Lender may exercise during such ninety (90) day period all available rights and remedies to protect and preserve the Mortgaged Property and the rents, revenues and other proceeds from the Mortgaged Property. All amounts paid by Governmental Entity to Lender to cure a Loan Default shall be deemed to have been advanced by Governmental Entity pursuant to, and shall be secured by the Loan Agreement and the Mortgage. For the purposes of this Section 8, (i) “Default Notice” means a copy of any written notice from Lender to Borrower and Subordinate Lender stating that a Loan Default has occurred under the Loan Documents and shall specify the default upon which such Default Notice is based; and (ii) “Loan Default” means the occurrence of an “Event of Default” as that term is defined in the Loan Documents.
9. Entire Agreement. This Agreement represents the entire understanding and agreement between the parties hereto with regard to the subordination of the Regulatory Agreement to the lien or charge of the Loan Documents and shall supersede and cancel any prior agreements with regard to this subject matter.
10. Binding Provisions. The covenants and agreements contained in this Agreement shall be binding upon the heirs, personal representatives, successors and assigns of the respective parties to this Agreement.
11. Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of California.
12. Modifications. This Agreement may not be modified orally or in any manner other than by an agreement in writing signed by the parties hereto or their respective successors in interest.
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page 4
13. Notices. All notices required or permitted hereunder shall be deemed to have been received either (i) when delivered by hand and the party giving such notice has received a signed receipt thereof, or (ii) three (3) days following the date deposited in the United States mail, postage prepaid, by registered or certified mail, return receipt requested, addressed as follows (or addressed in such other manner as the party being notified shall have requested by written notice to the other party):
If to Governmental Entity:
Vallejo Housing Authority
505 Santa Clara Street
Vallejo, CA 94590
Attention: Housing Director
Telephone (707) 648-4408
[email protected]
With a copy to:
General Counsel of the Vallejo Housing Authority
Office of the City Attorney
555 Santa Clara Street
Vallejo, CA 94590
Attention: Veronica Nebb
[email protected]
If to Lender:
Lument Real Estate Capital, LLC
c/o Lument
10 W. Broad Street, 8th Floor
Columbus, Ohio 43215
Attention: Legal Department
With a copy to:
Lument Real Estate Capital, LLC
c/o Lument
2001 Ross Avenue, Suite 1900
Dallas, Texas 75201
Attention: REINS Asset Management
If to Borrower:
Marina Annex Housing Partners, LP
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page 5
c/o LIHC Investment Group
One Portland Square, Suite 6A
Portland, ME 04101
With a copy to:
Vitus Group
2607 Second Avenue, Suite 300
Seattle, WA 98121
14. Further Instruments. Each of the parties hereto will, whenever and as often as they shall be requested to do so by the other, execute, acknowledge and deliver, or cause to be executed, acknowledged or delivered, any and all such further instruments and documents as may be reasonably necessary to carry out the intent and purpose of this Agreement, and to do any and all further acts reasonably necessary to carry out the intent and purpose of this Agreement.
15. Valid Authorization. Each person executing this Agreement on behalf of a party hereto represents and warrants that such person is duly and validly authorized to do so on behalf of such party with full right and authority to execute this Agreement and to bind such party with respect to all of its obligations hereunder.
16. Counterparts. This Agreement may be executed in counterparts each of which shall be deemed an original and all of which when taken together constitute one and the same instrument, binding on all of the parties. The signature of any party to any counterpart shall be deemed a signature to, and may be appended to, any other counterpart.
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN THE REGULATORY
AGREEMENT BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF THE MORTGAGE.
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page S-1
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day and year above written.
GOVERNMENTAL ENTITY
VALLEJO HOUSING AUTHORITY, a public
body
By:_______________________________________
Name:____________________________________
Title:_____________________________________
SUCCESSOR AGENCY TO THE FORMER
REDEVELOPMENT AGENCY OF THE CITY
OF VALLEJO
By:_______________________________________
Name:____________________________________
Title:_____________________________________
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page S-2
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 _______________ )
) ss:
COUNTY OF_______________ )
On ___________________, 2025, before me, __________________________ (here insert name of the officer), Notary Public, personally appeared _________________________, 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.
WITNESS my hand and official seal.
_________________________________
Notary Public
[Seal]
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page S-3
BORROWER:
MARINA ANNEX HOUSING PARTNERS, LP,
a Delaware limited partnership
By: IH Marina Annex Vallejo LLC, a
California limited liability company
Its: Managing General Partner
By: Affordable Housing Alliance II, Inc.,
a Colorado nonprofit corporation d/b/a Integrity Housing Its: Sole Member
___________________________
By: Philip Wood
Its: President
By: Marina Annex Housing Management, LLC, a
Delaware limited liability company
Its: Co-General Partner
By: Vitus Development III, LLC, a Delaware limited liability company Its: Member and Manager
___________________________
By: Stephen R. Whyte
Its: President
By: Marina Towers Acquisitions LLC, a California limited liability company Its: Member and Manager
By: LPSF IV, LLC, a Maine limited liability company
Its: Manager
__________________________________
By: Charles P. Gendron
Its: Manager
[ACKNOWLEDGMENT APPEARS ON THE SUCCEEDING PAGE]
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page S-4
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 _______________ )
) ss:
COUNTY OF_______________ )
On ___________________, 2025, before me, __________________________ (here insert name of the officer), Notary Public, personally appeared _________________________, 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.
WITNESS my hand and official seal.
_________________________________
Notary Public
[Seal]
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page S-5
LENDER:
LUMENT STRUCTURED FINANCE, LLC,
a Delaware limited liability company
By:
Name:
Title:
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 _______________ )
) ss:
COUNTY OF_______________ )
On ___________________, 2025, before me, __________________________ (here insert name of the officer), Notary Public, personally appeared _________________________, 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.
WITNESS my hand and official seal.
_________________________________
Notary Public
[Seal]
Subordination Agreement (Governmental Entity)
Marina Towers Annex Page A-1
EXHIBIT A
Legal Description
The land referred to is situated in the County of Solano, City of Vallejo, State of California, and is described as follows:
Parcel 212A as shown on that Parcel Map entitled "Redivision of Parcels No. 211 and 212 of the Marina Vista Redevelopment Project of City of Vallejo, as shown on a Parcel Map recorded September 15, 1969 in Book 3 of Parcel Maps, Solano County Records, at Page 67" filed in the Office of the County Recorder of Solano County, California, on the 20th day of May, 1977, in Book 12 of Parcel Maps, Page 89, Series No. 20499.
APN: 0055-160-390