Subordination Agreement 2016-0455304RECORDING REQUESTED BY:
TITLE 365
WHEN RECORDED MAIL DOCUMENT
AND TAX STATEMENT TO:
CITY OF POWAY
13325 CIVIC CENTER DRIVE
POWAY, CA 92064
ATTN: CITY CLERK
DOC# 2016 - 0455304
II fl I I I IIIII 11 I I II III I III I IIIII II I I II I I IIII I II III
Aug 31, 2016 03:10 PM
OFFICIAL RECORDS
Ernest J. Dronenburg, Jr.,
SAN DIEGO COUNTY RECORDER
FEES: 342.00
PAGES: 10
TITLE NO. CA0410- 16008187 -41
SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE
SUBORDINATION AGREEMENT
RESIDENTIAL REHABILITATION LOAN
This document is executed
in counterpart
RECORDING REQUESTED BY:
TITLE 365
WHEN RECORDED MAIL DOCUMENT
AND TAX STATEMENT TO:
CITY OF POWAY
13325 CIVIC CENTER DRIVE
POWAY, CA 92064
ATTN-. CITY CLERK
TITLE NO. CA0410- 16008187 -41
SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE
SUBORDINATION AGREEMENT
RESIDENTIAL REHABILITATION LOAN
rdis document is exerut @d
it counterpart
Recording Requested by
And When Recorded Mail to:
City of Poway
13325 Civic Center Drive
Poway, CA 92064
Attn: City Clerk
SUBORDINATION AGREEMENT
RESIDENTIAL REHABILITATION LOAN
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 August 1, 2016 by Donna D. Italiano, a married woman as her sole
and separate property, owner of the land hereinafter described and hereinafter referred to as
"Owner," and Poway Redevelopment Agency and City of Poway, present owner and holder of the
deed of trust and note first hereinafter collectively described and hereinafter collectively referred to
as "Beneficiary";
WITNESSETH
THAT WHEREAS, Owner, did execute a deed of trust, dated June 26, 2008, to Comprehensive
Housing Services, Inc., a California Corporation, as trustee, covering the property located at
13421 Orange Blossom Lane, Lot 131 of Midland Estates Unit No. 3, in the City of Poway,
County of San Diego, State of California, according to Map thereof No. 7199, filed in the Office of
the County Recorder of San Diego County, February 8, 1972, to secure a not in the sum of $9,050,
dated June 26, 2008, in favor of Beneficiary, which deed of trust was recorded as instrument no.
2008 - 0400750, on July 28, 2008 and subordinated on March 26, 2009 as instrument no. 2009-
0153456.
WHEREAS, owner has executed, or is about to execute, a deed of trust and note in the sum of
$187,000 dated e,\ � i k-C, , in favor of PERIL Mortgage, Inc., a corporation service
company, Lawyers Incorporating Service, hereinafter referred to as "Lender" payable with interest
and upon the terms and conditions describe therein, which deed of trust is to be recorded
concurrently herewith; and
WHEREAS, on February 1, 2012, the Poway Redevelopment Agency was dissolved by operation of
law, and, pursuant to California Health and Safety Code Section 34173, the City of Poway became
the Successor Agency to the former Redevelopment Agency; and
WHEREAS, as a result of the dissolution of the Redevelopment Agency, and in accordance with
Health and Safety Code Section 34173, said Deed of Trust has been assigned to the Successor
Agency; and
This document is executed
Subordination A in counterpart
WHEREAS, the undersigned present Beneficiary desires to substitute a new Trustee under said Deed
of Trust in place of COMPREHENSIVE HOUSING SERVICES, INC.; and
WHEREAS, it is a condition 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 or charge of the deed of trust first 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
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 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 agreement as to such subordination including, but not limited, 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 deed or deeds of trust or to another
mortgage or mortgages.
Beneficiary declares, agrees and acknowledges that:
(a) It 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 Lender's
loan;
Subordination A 2
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or
duty to, nor has Lender represent 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; and
(c) It intentionally and unconditionally waives, relinquishes and subordinates 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.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH
ALLOWS THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN
A LOAN A PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES ON THE
LAND.
IN WITNESS WHEREOF, parties hereto have signed this Agreement as of the day and
year first above written.
BENEFICIARY:
CITY OF POWAY AS SUCCESSOR AGENCY
By: 6�
Tina White, Acting City Manager
LENDER:
PERL MORTGAGE, INC. CSC
LAWYERS INCORPORATING SERVICE
Ken Perimutter, President
SUCCESSOR TRUSTEE:
CITY OF POWAY
By:
Tina White, Acting City Manager
OWNER:
Donna D. Italiano
ALL SIGNATURES MUST BE NOTARIZED
Subordination A 3
California All- Purpose Acknowledgment CIVIL CODE § 1189
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 CALIFORNIA
COUNTY OF SAN DIEGO
On c,- mt J J06P before me, Carol S. Legg, Notary Public, personally appeared Tina
White, who pr ved to me on the basis of satisfactory evidence to be the person(} whose
name{4 is /a-Fe subscribed to the within instrument and acknowledged to me that #e /she /
executed the same in 4+s /her /#ie4 authorized capacity(+es), and that by 4is /her /t4e4
signature{} on the instrument the person(, or the entity upon behalf of which the person{}
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.
CAROL S. LEGG
Ank = ommission N 2105416
I
10 Notary Public - CaNlornia
San Diego County
My Comm. Mires 28 2019
OPTIONAL
Carol S. Legg, NotaN Public
Title or type of document: Subordination Agreement, Residential Rehabilitation Loan
Document Date: August 1, 2016
Number of Pages: Three
Signers Other Than Named Above: Ken Perimutter for Lender and Donna Italiano, Owner
(neither has signed yet at time of this notarization)
GOVERNMENT CODE 27361.7
I, M. Orozco, certify under penalty of perjury that the notary seal on the
document to which this statement is attached read as follows:
Name of the Notary:
c1,r0 1 S IeSS
Commission Number: t 1054, �v Date Commission Expires:
County where Bond is Filed:. , oF ep
Manufacturer /Vender Number: �N IPT-)
Place of Execution:
Signature:
Date: � - 31 —'
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 California _
County of
On i�v� 2 c{t+ '1 -�I P before me, nck- on-Q-11Lf-
(insert n4ne and title of the officer)
personally appeared ��„� G� —V-ko!A\ C-�c-,
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.
CATHY SCHERKENBACHR�
Z' Commission # 2069761
WITNESS my hand and official seal. ;nee Notary Public - California Z
° San Diego County
o
My Comm. Expires Jun 26, 2018
Signature
(Seal)
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or
duty to, nor has Lender represent 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; and
(c) It intentionally and unconditionally waives, relinquishes and subordinates 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.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH
ALLOWS THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN
A LOAN A PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES ON THE
LAND.
IN WITNESS WHEREOF, parties hereto have signed this Agreement as of the day and
year first above written.
BENEFICIARY:
CITY OF POWAY AS SUCCESSOR AGENCY
By:
Tina White, Acting City Manager
LENDER:
PERL MORTGAGE, INC. CSC
LAWYERS IN VICE
Ken eeritm
flee.(-H'j
•esident ON M"I.M" 'T
wr PFtESjpEN
SUCCESSOR TRUSTEE:
CITY OF POWAY
By:
Tina White, Acting City Manager
OWNER:
Do��.
ALL SIGNATURES MUST BE NOTARIZED
Subordination A 3
ALL - PURPOSE ACKNOWLEDGMENT
State of T1111rct S
County of CCJUK
On !� 30_ b before me,
DATE NAME OF NOTARY PUBLIC
personally appeared
NAME(S) OF SIGNERS)
personally known tome OR proved tome 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 helshelthey
executed the same in his/her/their authorized
capacity(ies), an 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.
OFFICIAL SEAL
JOHN BRANDON COX WITNESS my hand and official seal.
NOTARY PUBLIC, STATE OF ILLINOIS
My Commission Expires Jan 25, 2020
ATTENTION NOTARY: Although the infomiation requested below is OPTIONAL, it may prove valuable to persons
relying on this Acknowledgment and could prevent fraudutent reattachment of this certificate to another document
THIS CERTIFICATE
MUST BE ATTACHED
TO THE DOCUMENT
DESCRIBED AT RIGHT
DESCRIPTION OF ATTACHED DOCUMENT
OR TYPE OF DOCUMENT
NUMBER GE PAGES
DATE OF DOCUM
SIGNER(S) OTHER THAN Nr f �1 AI i�VE
EXHIBIT A
Legal Description
The land hereinafter referred to is situated in the City of Poway, County of San Diego, State of CA, and is described as
follows:
Lot 131 of Midland Estates Unit No. 3, in the City of Poway, County of San Diego, State of California, according to Map
thereof No. 7199, filed in the Office of the County Recorder of San Diego County, February 8, 1972.
APN: 314 - 510 -36 -00
Legal Description CA0410- 16008187 -41/51