Subordination Agreement 1975-201953 II ' ORI ) NAL
I •1 568 )
Ai `l X37 .p ,R ry
When Recorded Mail To: ) FILE/PAGE NO75�201953
BOOK 1975
) RECORDED REQUEST OF
POWAY MUNICIPAL WATER DISTRICT ) TITLE INSURANCE & TRUST CO.
Post Office Box 348 ) !AUG 1 8:00AM'75
Poway, California 92064 ) • OFFICIAL RECORDS
) SAN DIEGO COUNTY, CALIF.
HARLEY F. OM NO FEE
SUBORDINATION AGREF'tENT
1
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed
of Trust dated lay 17, 1974 , recorded in the Office of the County
Recorder of San Diego County, May 29, 1974 File No. 74-139454
and as owner and holder of the obligations thereby secured does hereby make
subject and subordinate the liens thereof to the Easement granted by
Panorama Hills , a limited partnership
to POWAY MUNICIPAL WATER DISTRICT, it being understood and agreed that
• foreclosure of said Deed of Trust shall not affect, defeat or render invalid
any rights under and by virtue of said easement, and said easement shall be
paramount and superior to the rights of any purchaser under a foreclosure
of said Deed of Trust.
Said easement is described in Document recorded March 19, 1975, as
Document No. 75-062953 of Utticial Records
j and affects the real property described in the said Deed of Trust,
i' Panorama Hills as Trustor,
First Bancorp as Trustee,
and First Western Bank and Trust Co. as Beneficiary.
Beneficiary declares and acknowledges that it hereby intentionally waives,
relinquishes and subordinates the priorities and superiorities of the lien
and charge of said Deed of Trust upon the land described therein in favor
of said easement, and that it understands that in reliance upon and in
consideration of this waiver, relinquishment and subordination specific
monetary and other obligations will be entered into by Third Parties which
would not be made or entered into but for said reliance and the execution
Il
by Beneficiary of this waiver, relinquishment and subordination.
DATED: (i ha 7,r BENEFICIARY:
First Western Bank and Trust Co. ,
R/W # 983788 a corporation
Exc. # 4 (� /� ,� / n
Proj. Panorama Hills BY: 1,//-l' d atitit4ti - -
- Unit No. I ASST-VICE PRESIDENT TITTLE ' •
• BY:
TITLE
STATE OF CALIFORNIA, SS.
COUNTY OF Los n eles
O nJuune 11, 1975 before me, the under-
signed, a Notary Public in and for said County and
State, Personally appeared M. D. FARSTAD , f FOR NOTARY SEAL OR STAMP Iknown to me to he thASST. VIC1 resident, and I °"'-,�
, known to me to be /
Secretary of the corporation that executed q.1 >,P�
the within Instrument, known to me to be the persons \`��• ;o
who executed the within Instrument on behalf of the ''''`\` Q,F''',;��r\` >`� V'
corporation therein named, and acknowledged to be that LI ���'.>"%.. °\,ce0.
r
such corporation executed the within instrument pursuant e ��*cxyp\,% c,E�+p
to its by-laws or resolution of its board of directors. e° Q .,
XtV, \"
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/) , 5 / -e7 / K.,- ‘ .
Signature of Notary