RES 19-093 APPROVING CONTRACT FOR PRIVATE REDEVELOPMENT WITH DORAN SLV, LLC.

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SCHEDULE C Form of Subordination Agreement THIS SUBORDINATION AGREEMENT (this "Agreement") is made as of this day of , 20, between ("Lender"), whose address is at , and the HOUSING AND REDEVELOPMENT AUTHORITY OF ST. ANTHONY, MINNESOTA, a public body corporate and politic ("Authority"), RECITALS A. Doran SLV, LLC, a Minnesota limited liability company ("Redeveloper"), is the owner of certain real property situated in Ramsey County, Minnesota and legally described in Exhibit A attached hereto and incorporated herein (the "Property"). B. Lender has made a mortgage loan to Redeveloper in the original principal amount of $ (the "Loan"). The Loan is the evidenced and secured by the following documents: (i) a certain promissory note (the "Note") made by Redeveloper dated , 20, in the amount of $ ; and (ii) a certain mortgage, security agreement and fixture financing statement (the "Mortgage") made by Redeveloper dated , 20 , filed 20_, as Ramsey County Recorder/Registrar of Titles Doc. No. encumbering the Property; and (iii) a certain assignment of leases and rents (the "Assignment") made by Redeveloper dated , 20_, filed , 20_, as Ramsey County Recorder/Registrar of Titles Doc. No. encumbering the Property. The Note, the Mortgage, the Assignment, and all other documents and instruments evidencing, securing and executed in connection with the Loan, are hereinafter collectively referred to as the "Loan Documents." C. Authority is the owner and holder of certain rights under that certain Contract for Private Redevelopment (the "Contract") by and between Redeveloper and Authority dated , 2019, filed , 20_, as Ramsey County Recorder/Registrar of Titles Doc. No. D. Redeveloper is entitled under the Contract to acquire a certain Tax Increment Tax Revenue Note, Series 20_ in the maximum original principal amount of $3,300,000 (the "TIF Note"). C-1 623340v3SA730-2