Subordination Agreement 1977-136328 ' -13E32S
1111 • ) . FILE/PAGE NO..-_-_----_
' ' 17`3'Z RECORDED REQ197UEST OF
• When Recorded Mail To: FIRST
�j ) AMBERICAN TITLE CO.
•' POWAY MUNICIPAL WATER DISTRICT ) APR 14 8:00 AM'77
Post Office Box 348 ) OFFICIAL RECORDS
Poway, California 92064 ) SAN DIEGO COUNTY, CALIF
HARLEY F. BLOOM •
^ ',77E) RECORDER N O ',
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed
of Trust dated frtnher 11 , 197 F, recorded in the Office of the County
Recorder of San Diego County, flrtnhPr 2$,1976 File No. 76-358815
and as owner and holder of the obligations thereby secured does hereby make
subject and subordinate the liens thereof to the Easement granted by
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 EXHIBIT "A" attached hereto and affects the
real property described in the said Deed of Trust,
L.C. Smull as Trustor,
DSL Service Company as Trustee,
and Downey Savings and Loan Association 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
by Beneficiary of this waiver, relinquishment and subordination.
DATED: March 3, 1977 BENEFICIARY:
Drawn y cavus anti l nan Ascnriatinn
Raw # 306972-R
• # 1y
Pro �
Proj . Poway Shopping BY: • • 1/
Plaza ` ' ice e ident TITLE
BY: (9 i
B. '. Brehm, Assist. Secretaryl•ITLE
STATE OF CALIFORNIA, SS.
COUNTY OF Orange
On March 3, 1977 before me, the under -
signed, a Notary Public in and for said County and
State, Personally appeared Larry W. Reed , FOR NOTARY SEAL OR STAMP
known to me to be the Vice President, and
B. J. Brehm , known to me to be
Assist. Secretary of the corporation that executed
the within Instrument, known to me to be the persons
who executed the within Instrument on behalf of the
corporation therein named, and acknowledged to be that
such corporation executed the within instrument pursuant
to its by-laws or resolution of its board of directors .
�w111OFFICIAL SEAL 4
' ignNota
ature of ry • KATHRYN L. BROWN :
Kathryn L. Brown • . -•t NOTARY PUBLIC-CALIFORNIA •
• „�� 1 PRINCIPAL OFFICE IN
• '4+,1, LOS ANGELES COUNTY •
• My Commission Expires July 9. 1978 •
•
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Project: POWAY SHOPPING PLAZA Tax Par. # 317-/53-/3
e
PLAT --TA-7n
of easements required by the
Poway Municipal Water District
C.A.N. C-P03-2/6.00
Prepared by: R/W # 306972-R
Boyle Engineering Corporation Date: JAN. 27, 1977