Subordination Agreement 1975-201953 (2) )
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1 • • ORIGINALIC
•1568 )
r (--/ ) 3 7R ) FILE/PAGE NO`75-201953
When Recorded Mail To: ) BOOK 1975
RECORDED REQUEST OF
TITLE INSURANCE & TRUST CO.
POWAY MUNICIPAL WATER DISTRICT ) q I 1 o. AM'75
Post Office Box 348 )
Poway, California 92064 ) OFFICIAL RECORDS
) SAN DIEGO COUNTY, CALIF.
HARLEY F. BLOOM NO FEE
• i ) eEmEDus
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed
of Trust dated Aay 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
and affects the real property described in the said Deed of Trust,
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
4i by Beneficiary of this waiver, relinquishment and subordination.
II
DATED: Cl /7 / 7S BENEFICIARY: -
First Western Bank and Trust Co. ,
R/W # 983788 a corporation
Exc. t 4 ,
Proj . Par drama Hi l I s BY: ) d- Z 4
A\ Ce4tI /--) l I
Unit No. I ASST-VICE PRESIDENT TITLE
• BY:
TITLE
i STATE OF CALIFORNIA, SS.
COUNTY OF Los Angeles
• On Ju 11, 1975 before me, the under-
• signed, a Notary Public in and for said County and
State, Personally appeared M. D. FARSTAD , r FOR NOTARY SEAL OR STAMP I
:. known to me to he thASET. VICEPresident, and I '''
, known to me to be
Secretary of the corporation that executed �,,.' �%V-I. '\.
the within Instrument, known to me to be the persons •�o''w_wc. :°�, g,'
4 01
who executed the within Instrument on behalf of the '••''�.,`•sk�. i ,:•o�0, 1>../"
corporation therein named, and acknowledged to be that ° ` ,N. ate,,°. c o°
Pg o v P 7 e
such corporation executed the within instrument pursuant ,a�``� a Q'Pa.4 1 ''10 HC,C. .4`es ,..
to its by-laws or resolution of its board of directors. ,/, ,<--1-'2',„ ySqc
`,' ^' ��(,
Th_,
.Vat--
4C�!_. �l-`
HSignature of Notary
Doc z i 8 8 •
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