Subordination Agreement 1994-0571604
1419
~oc " 1994-0571604
27-SEP-1994 08:57 AM
OFFICIAL RECORDS
SAH DIEGO COUHTY RECORDER'S OFFICE
GREGORY SMITH, COUHTY RECORDER
FEES: 0.00
RECORDING REQUESTED BY:
CITY OF POWA Y
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WHEN RECORDED MAIL TO:
CITY CLERK
CITY OF POWA Y
P. O. BOX 789
POWAY. CA 92064
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(This space for Recorder's Use)
APN # 275-390-05
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
March 6, 1992, recorded in the Office of the County Recorder of San Diego County March
11, 1992, File No. 1992-0132507, which Deed of Trust is the subject of that certain
Subordination Agreement dated September 30, 1993, recorded October 13, 1993, in the
Office of the County Recorder of San Diego County at File/Page No. 1993-0683439, and
as owner and holder of the obligations thereby secured does hereby make subject and
subordinate the liens thereof to the Grant of Easement granted by Irwin Peitchel and Ricki
Peitchel, husband and wife, to THE CITY OF POWAY, 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 Grant of Easement was recorded Se.r1~ \, '--Y d- 1 , 1994, File
No. 1994- 0511" o.:.L , and affects the real property described in said Deed of Trust.
The undersigned Beneficiary of said Deed of Trust declares and acknowledges that it is
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.
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Dated:
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OFFICER
STATE OF CfL'iAvfrll~ )
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COUNTY OF ~(AiS<iJ)
On 02pr IS , 1994 before me,. ~t2 ~h~ , a
Notary Public, personally appeared Lor < f.pj) S ,
personally known to me (or proved to me on the basis of satisfactory evidence) to be the
person(s) whose name(s){Ware subscribed to the within instrument and acknowledged to
me that ~she/they executed the same i~/her/their authorized capacity(ies), and that
by .nfs7h~their signature(s) on the instrument the person(s), or the entity upon behalf of
wh~he person(s) acted, executed the instrument.
WITNESS my hand and official seal.
STATE OF (\J)
~ ) S.S.
COUNTY OF i5>>-n'.JI}~)
On V 15 ,1994 before me, 0j;,f7VJ e. mtrll)l~ , a
Notary Public, personally appeared NOr be . f:;1r7 )CL{ ilL ,
personally known to me (or proved to me on the basis of satrsfactory evidence) to be the
person(s) whose name(s@are subscribed to the within instrument and acknowledged to
me that he/~/they executed the same in his/I!a/their authorized capacity(ies), and that
by his/i1eNt~ir signature(s) on the instrument the person(s), or the entity upon behalf of
which t'hiperson(s) acted, executed the instrument.
WITNESS my hand and official seal.
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D MY C"_:'''.''~;'-;''..>.:'::)N EXPIRES
JANUARY 27,1995
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