Subordination Agreement 1994-0077655RECORDING REQUESTED BY
RECORDING REQUESTED BYf
2yb41AN W_LE �PJWANY
AND WHEN RECORDED MAIL TO
NANX F City Clerk's Office
ADUN[Ss City of Poway
PO Box 789
CITY III Ca 92074 -0789
Sr�re � J
^i 79l0 -3
OOC• 1994 - 0077655
02 -FEB -1994 03:59 PM
OFFICIAL RECORDS
SAaH DIEGO COUNTY RECORDER'S OFFICE
ANNETTE EVANS, COUNTY RECORDER
359 RF` 7.00 FEES 17.00
AF. 9.00
flFt 1.00
SPACE ABOVE THIS LINE FOR RECORDER'S USE
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY
INSTRUMENT.
THIS AGREEMENT, made this 26th day of January 19
94
by * *Eric S. Matz and Robin E. Thomas
owner & land Ii irnaaf jj* described and hereinafter referred to as "Owner', and
owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as 'Beneficiary";
THAT WHEREAS, Eric S. Matz and
did execute aN1RWW%W, dated November R
an agreement
WITNESSETH
0
as trustee, covering:
to City of Poway
12722 Cobblestone Creek Road, Poway, Ca 92064
to secure a note in the sum of $ 7,576.14 dated November 16, 1992
in favor of City of Poway
which deed of trust was recorded July 13, 1993 in bookl993- 445358 page
Official Records of said county; and
, present
WHEREAS, Owner has executed, or is about to ex t5%deecfof trust and note in the sum of $ 165, 006.00- --
�� January 77 1999 in favor of
hereinafter
referred to as "Lender', payable with interest and upon the terms and conditions described therein, which deed of trust is to be
recorded concurrently herewith; and
WHEREAS, it is a condition of precedent to obtaining said loan that said deed of trust last above mentioned shall
unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien oc
charge of the deed of trust fast above mentioned; and
WHEREAS, Lender is willing to make said loan provided the deed of trust securing the same is a lien or charge upon the
above described property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that
Beneficiary will specifically and unconditionally subordinate the lien or charge of the deed of trust first above mentioned to the
lien or charge of the deed of trust in favor of Lender; and
Form 3221 Standard ISubordination Form "A "I
+ 300
WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary is
willing that the deed of trust securing the same shall, when recorded, constitute a lien or charge upon said land which is
unconditionally prior and superior to the lien or charge of the deed of trust first above mentioned.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable
consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Lender to make
the loan above referred to, it is hereby declared, understood and agreed as follows:
(1) That said deed of trust securing said note in favor of Lender, and any renewals or extensions thereof, shall
unconditionally be and remain at all times a lien or charge on the property therein described, prior and superior to
the lien or charge of the deed of trust first above mentioned.
(2) That Lender would not make its loan above described without this subordination agreement.
(3) That this agreement shall be the whole and only agreement with regard to the subordination of the lien or
charge of the deed of trust first above mentioned to the lien or charge of the deed of trust in favor of Lender
above referred to and shall supersede and cancel, but only insofar as would affect the priority between the deeds
of trust hereinbefore specifically described, any prior agreements as to such subordination including, but not
limited to, those provisions, if any, contained in the deed of trust first above mentioned, which provide for the
subordination of the lien or charge thereof to another decd or deeds of trust or to another mortgage or mortgages.
Beneficiary declares, agrees and acknowledges that
(a) He consents to and approves (i) all provisions of the note and deed of trust in favor of Lender above referred
to, and (ii) all agreements, including but not limited to any loan or escrow agreements, between Owner and Lender
for the disbursement of the proceeds of Lenders loan;
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor has
Lender represented that it will, see to the application of such proceeds by the person or persons to whom Lender
disburses such proceeds and any application or use of such proceeds for purposes other than those provided for in
such agreement or agreements shall not defeat the subordination herein made in whole or in part;
(c) He intentionally and unconditionally waives, relinquishes and subordinates the lien or charge of the deed of
trust first above mentioned in favor of the lien or charge upon said land of the deed of trust in favor of Lender
above referred to and understands that in reliance upon, and in consideration of, this waiver, relinquishment and
subordination specific loans and advances are being and will be made and, as part and parcel thereof, specific
monetary and other obligations are being and will be entered into which would not be made or entered into but for
said reliance upon this waiver, relinquishment and subordination; and
(d) An endorsement has been placed upon the note secured by the deed of trust first above mentioned that said
deed of trust has by this instrument been subordinated to the lien or charge of the deed of trust in favor of Lender
above referred to.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF H MAY BE
EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF TH �ND.
CtTy OF FowAV
V- it a*)-r, i 1Z rats to
Beneficiary
-2-
IN COMMONWEALTH
This Form Furnished By (ANDW E IN"ANCE COMPAW
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS
SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR
ATTORNEYS WITH RESPECT THERETO.
I1-3221 Siundard (SUBORDINATION FORM "A ")
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STATE OF CALIFORNI }ss. u./1
COUNTY OF a /�/� 1 1n In - 1
ZONUAVAx �. 106 before e. InG r I'J le(/V
personally
personally known to me (or 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.
WITNES m han and official�seal.n
Signatu ar
STATE OF C/
COUNTY OF
before
personalty
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OFFlCML fiE11L
CATHERINE P. ►1ANSHEW
t1OI
SAN DIE(i0 CCUHIY
AM CommtrlWnExpire�
AUGUST 4,1995
(This area for official notarial seal)
personally known to me (er- proved.
to be the person(Vwhose name Is subscribed to the within
instrument and acknowledged to me that 1`e05`t4ey executed the same in W30heiftauthorized capacity(K'
and that by 49" signaturekyon the instrument the
OFFICIAL SEAL
person({aded, executed the instrument. "" MARIE LOFTON
����
;Nctory Rrdlc•Callfanla N DIEGO COUNTY
WITNESS my haand-and_official seal. Commission Expires
Signatur(Z` /'U�/�l26.1994
(This area for official notarial seal)
a
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PARCEL 1:
EXHIBIT "A"
362
OA No. 217910 -03
Escrow No. 19- 5636 -J
All that portion of the Northwest Quarter of the Northeast Quarter of
Section 22, Township 14 South, Range 2 West, San Bernardino Meridian,
in the County of San Diego, State of California, according to United
States Government Survey, described as follows:
COMMENCING at a point on the Southerly line of the County Road Survey
No. 987, as relocated, said point being opposite Engineer's Station
110 + 89.06 and also being the Easterly terminus of a 2,360.00 foot
radius curve, concave Southerly; thence Westerly along South Southerly
line and along the arc of said curve, through a central angle of 02
Degrees 54 Minutes 48 Seconds a distance of 120.00 feet; thence South
25 Degrees 42 Minutes 45 Seconds East, 240.51 feet; thence South 65
Degrees 29 Minutes 30 Seconds West, 87.68 feet; thence South 21
Degrees 04 Minutes 00 Seconds East, 175.04 feet to the TRUE POINT OF
BEGINNING; thence continuing South 21 Degrees 04 Minutes 00 Seconds
East, 219.36 feet to an angle point in the Southwesterly boundary of
land described under Parcel 1 in deed to Ruth L. Harris, et al,
recorded September 28, 1962 as File No. 167765 of Official Records;
thence along the boundary of said Harris' land as follows:
South 70 Degrees 52 Minutes 00 Seconds East, 25.00 feet; North 86
Degrees 46 Minutes 00 Seconds East, 119.84 feet (Record = 119.90
feet); North 16 Degrees 00 Minutes 30 Seconds East, 61.48 feet
(Record = 61.42 feet) to the beginning of a tangent 150.00 foot
radius curve, through a central angle of 13 Degrees 45 Minutes 04
Seconds a distance of 36.00 feet and North 67 Degrees 13 Minutes 00
Seconds West, 75.08 feet to an angle point therein; thence leaving
said boundary North 65 Degrees 13 Minutes 40 Seconds West, 202.46 feet
to the TRUE POINT OF BEGINNING.
PARCEL 2:
Rights of way for road and public utility purposes over and across
strips of land 60.00 feet in width and 40.00 feet in width and a
right of way for road purposes over and across a strip of land 30.00
feet in width, all situated in the Northeast Quarter of Section 22,
Township 14 South, Range 2 West, San Bernardino Meridian, in the
County of San Diego, State of California, according to United States
Government Survey, the center line of said strips of land being
described as follows:
BEGINNING at the Southwesterly corner of the property described in
Parcel 1 above, being the Point of Beginning of the center line of
said 60.00 foot strip of land; thence South 70 Degrees 52 Minutes 00
Seconds East, 25.00 feet; thence North 86 Degrees 46 Minutes 00
Seconds East, 119.90 feet to the beginning of the center line of said
40.00 foot strip of land; thence North 16 Degrees 00 Minutes 30
Seconds East, 61.42 feet to the beginning of a tangent curve, concave
Southeasterly and having a radius of 150.00 feet; thence
Page 2
�i
OrW No. 217910 -03
F EXHIBIT "A"
(Continued)
363 Escrow No. 19- 5636 -J
Northeasterly along said curve, through a central angle of 46 Degrees
41 Minutes 30 Seconds, a distance of 122.24 feet; thence tangent to
said curve North 62 Degrees 42 Minutes 00 Seconds East, 274.42 feet;
thence North 54 Degrees 04 Minutes 00 Seconds East, 124.49 feet to a
point on the Westerly line of land conveyed to George B. McFetridge
and wife, by deed dated January 12, 1949 and recorded in Book 3158,
Page 492 of Official Records, said point being at the Southwesterly
terminus of the center line of a 30.00 foot easement for road purposes
as reserved in said deed to McFetridge and being also the Point of
Beginning of the center line of the herein described 30.00 foot strip
of land; thence along said center line of said easement reserved in
said deed North 39 Degrees 05 Minutes 40 Seconds East, 214.95 feet and
North 2 Degrees 08 Minutes 30 Seconds West, 335.36 feet to Engineer's
Station 118 + 66.31 in the center line of the aforementioned Road
Survey No. 987, the Southerly line of said 60.00 foot strip and the
Southeasterly line of said 40.00 feet strip to be prolonged Easterly
and Southwesterly, respectively, to their intersection and the
sidelines of said 40.00 foot and 30.00 foot strips of land to be
prolonged or shortened as is necessary to terminate in the above
mentioned Westerly line of land so conveyed to McFetridge.
EXCEPTING FROM the above described 60.00 foot and 40.00 foot strips
of land those portions thereof included within the boundaries of the
property frist hereinabove described in Parcel 1.
Said rights of way are for the benefit of and appurtenant to the
property first described in Parcel 1 above and shall inure to the
benefit of and may be used by all persons who may hereafter become the
owners of said appurtenant property or any parts or portions thereof.
Page 3