Subordination Agreement Residential Rehabilitation Loan 2017-0115381Recorded Request Of
FIDELITY NATIONAL TITLE
SAN DIEGO OFFICE
And When Recorded Mail to:
City of Poway
13325 Civic Center Drive
Poway, CA 92064
Attn: City Clerk
DOC# 2017-0115381
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Mar 14, 2017 08:00 AM
(OFFICIAL RECORDS
Ernest J. Dronenburg, Jr.,
SAN DIEGO COUNTY RECORDER
FEES. $36.00
SUBORDINATION AGREEMENT
RESIDENTIAL REHABILITATION LOAN
PAGES. 8
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 as of March 1, 2017, by David S. Ker'esztury and Christine A.
Keresztury, Trustees of The Keresztury Living Trust Dated September 25, 1998, owners 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 September 1, 2010, to
Comprehensive Housing Services, Inc., a California Corporation, as trustee, covering the
property located at 13849 Eisenhower Avenue, in the City of Poway, County of San Diego, State of
California, which property is legally described in Exhibit A attached hereto.
Assessor's Parcel No. 314-133-10-00
to secure a note in the sum of $15,000, dated September 1, 2010,,'in<favor of Beneficiary, which
deed of trust was recorded as instrument no. 2010-0498896, on 'September 21, 2010, Official
Records of said county; and
WHEREAS, owner has executed, or is about to execute, a deed of trust and note in the sum of
$57,800 dated March 6, 2017, in favor of Mission Federal Credit Union 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 I, 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
subordination A 1 "
Recorded Request Of
FIDELITY NATIONAL TITLE
SAN DIEGO OFFICE
And When Recorded Mail to
City of Poway
THIS DOCUMENT HAS BEEN
13325 Civic Center Drive
ELECTRONICALLY RECORDED. SEE
THE ATTACHED COVER PAGE FOR
Poway, CA 92064
RECORDING INFORMATION
Attn: City Clerk
SU13ORDINATION 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 AGREEMEN'r, made as of March I, 2017, by David S. Keresztury and Christine A.
Keresztury, Trustees of The Keresztury Living Trust Dated September 25, 1998, owners 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 September 1, 2010, to
Comprehensive Housing Services, Inc., a California Corporation, as trustee, covering the
property located at 13849 Eisenhower Avenue, in the City of Poway County of San Diego, State of
California, which property is'legally described in Exhibit A attached hereto.
Assessor's Parcel No. 314-133-10-00
to secure a note in the sum of S15,000, dated September 1, 2010, in favor of Beneficiary, which
deed of trust was recorded as instrument no. 2010-0498896, on September 21, 2010, Official
Records of said county; and
WHEREAS, owner has executed, or is about to execute, a deed of trust and note in the sum of
557,800 dated March 6, 2017, in favor of Mission Federal Credit Union 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 I, 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
Subordination A
WHEREAS, the undersigned present Beneficiary desires to substitute a new Trustee under said Deed
of Trust in place of COMPRE"HE"NSIVE 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:
I ) 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 dced 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. City Manager
OWNER.
By -
David S. Keresztury
LENDER:
MISSION FEDERAL CREDIT UNION
By -
Diana G. Clegg, Assistant Vice President
of Real Estate Loan Division
SUCCESSOR TRUSTEE:
CITY OF PO Y
By. fi
Tina White, City Manager
OWNER:
By.
Christine A. Keresztury
Signed in
Counterpart
ALL SIGNATURES MUST BE NOTARIZED
Subordination A 3
(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
0
Tina White, City Manager
OWNER:
By.
David S. Keresztury
LENDER:
MISSION FEDERAL CREDIT UNION
Signed in
Counterpart
Byy
Diana G. Clegg, Vice President of Real Estate
Loan Division
Subordinatlon A
SUCCESSOR TRUSTEE:
CITY OF POWAY
By
Tina White, City Manager
OWNER:
0
Christine A. Keresztury
ALL SIGNATURES MUST BE NOTARIZED
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 March 3, 2017 before me, Carol S. Legg, Notary Public, personally appeared Tina
White, who proved to me on the basis of satisfactory evidence to be the person(s) whose
names) is/afe subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/theif authorized capacity(ie9), and that by his/her/theif
signatures) on the instrument the person(s), 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
Z Commissionp2101054-
i Notary Public i - California
San Olego County
Comm.My res Apr 28 2019+ Carol S. Legg, Notary MUtic
OPTIONAL
Title or type of document: Subordination Agreement, Residential Rehabilitation Loan.
Reference David S. Keresztury and Christine A. Keresztury, Trustees. Property parcel 314-133-
10-00, 13849 Eisenhower Avenue, Poway, CA 92064
Document Date: March 1, 2017
Number of Pages. 3
Signers Other Than Named Above David S and Christine A. Keresztury
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 —_y— � O164 0
On YYIYt tki 6, dQIf7 before me,lt�%[f 4 G
Date Here Insert Name and Title of the Officer
personally appearedI JH V )� 5 Es Z 7 -Vie `r� i4N1b
Names) of Signers)
C�ISi-iN� � kE�E52T(�izY
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s),i3/are
subscribed to the within instrument and acknowledged to me that I}e7/Pe/they executed the same in
hfsiher/their authorized capacityCies), and that by 09"r/their signature(s) on the Instrument the person(s),
r the entity upon behalf of which the person(s) acted, executed the instrument.
=E.'12
2831 s0lifornia ontyL 10, 2018
Place Notary Seal Above
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
of Notary
Though this section is optional, completing this information can deter alteration of the document or
fraudulent reattachment of this form to an unintended document.
Description of Attached Document
Title or Type of Document:
Document Date:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Individual ❑ Attorney in Fact
❑ Trustee ❑ Guardian or Conservator
❑ Other
Signer Is Representing:
Number of Pages:
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Individual ❑ Attomey in Fact
❑ Trustee ❑ Guardian or Conservator
❑ (lthor
Signer Is Representing:
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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 J rA
On yAa('C,k �P , o0i 7 before me. ) O ^tLxL
G
DateHere Insert Name and Title of the Officer
personally appeared �0.�� G' G1e� 5
Name(s) of Signer(s)
who proved to me on the basis of satisfactory evidence to be the person(§ whose namem istare
subscribed to the within Instrument and acknowledged to me that ha/she/they executed the same in
Ws/her/their authorized capacity (is), and that by hWher/their signature(s) on the Instrument the person(s),
or the entity upon behalf of which the person(4acted, executed the instrument.
DEBORAH A.PURCELL
Commission N 2077440
Z
,-i Notary Public • California i
T San Diego County
My Comm. EK ires Au 12, 2018 r
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 se .
Slgnatuur;�Z��/!C(Z �_,Ie
Signature of NotaryPublic I.
Place Notary Seal Above
OPTIONAL
Though this section Is optional, completing this information can deter alteration of the document or
fraudulent reattachment of this form to an unintended document.
Description of Attached Document
Title or Type of Document:
Document Date:
Signers) Other Than Named Above:
Capacity(les) Claimed by Signer(s)
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Individual ❑ Attomey in Fact
❑ Trustee ❑ Guardian or Conservator
❑ Other -
Signer Is Representing:
Number of Pages:
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Individual ❑ Attomey in Fact
❑ Trustee ❑ Guardian or Conservator
❑ Other
Signer Is Representing:
..: r r ^ .,...^.. :^'r^ : • r
Escrow No. 00086353 -007 -NL
Parcel No. 314-133-10-00
EXHIBIT "A"
Legal Description
LOT 24 IN BLOCK 22 OF TRACT "E" OF POWAY, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, ACCORDING TO MAP THEREOF NO. 536, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID
SAN DIEGO COUNTY, MAY 7, 1888.
TOGETHER WITH THAT PORTION OF THE WEST HALF OF THE ALLEY IN SAID BLOCK 22 LYING EASTERLY AND
ADJOINING LOT 24 AS SAID ALLEY WAS VACATED AND CLOSED TO PUBLIC USE ON JUNE 11, 1957, BY ORDER OF
THE BOARD OF SUPERVISORS OF SAN DIEGO COUNTY, A COPY OF SAID ORDER BEING RECORDED JUNE 19, 1957
IN BOOK 6627, PAGE 335 OF OFFICIAL RECORDS.
TOGETHER WITH THAT PORTION OF 5TH STREET LYING SOUTHERLY OF BLOCK 23 OF POWAY, ACCORDING TO
MAP THEREOF NO. 536 ON FILE IN THE RECORDER'S OFFICE OF THE COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, AND LYING NORTHERLY OF BLOCK 22 OF SAID MAP NO 536 AND LYING EASTERLY OF THE
NORTHERLY PROLONGATION OF THE WESTERLY LINE OF LOT 24 OF SAID BLOCK 22 AND LYING WESTERLY OF A
LINE THAT IS PARALLEL WITH AND 61.00 FEET WESTERLY OF THE CENTERLINE OF POMERADO ROAD, ROAD
SURVEY 1859-2 ON FILE IN THE COUNTY ENGINEERS OFFICE OF SAID COUNTY
EXCEPTING THEREFROM THE NORTHERLY 7.00 FEET OF THE SOUTHERLY 10.50 FEET OF SAID 5TH STREET AS
VACATED AND CLOSED TO THE PUBLIC ON SEPTEMBER 26, 1979, BY ORDER OF THE BOARD OF SUPERVISORS OF
SAN DIEGO COUNTY, RECORDED NOVEMBER 28, 1979 AS FILE NO. 79-500144 OF OFFICIAL RECORDS.