Subordination Agreement 1992-0492533
RECORDING REQUESTED BY: )
)
"CITY OF POWAY )
)
AND WHEN RECORDED MAIL TO: )
)
CITY CLERK ) ,
CITY OF POWAY ) I'.
P.O. BOX 789 )
POWAY, CA 92064 )
)
No transfer tax due )
2020
DOL " 1992-0492533
06-AUG-199Z 10=17 AM
OFFICIAL RECOROS
SAH DIEGO COUHTY RECORDER'S OFFICE
AHHETTE EVAHS, COUHTY RECORDER
FEES: 0.00
(This soace for Recorder's Use)
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust
dated June 11, 1991, recorded in the Office of the County Recorder of San
Diego County August 7, 1991, File No. 91-0395841 and as owner and holder of
the obligations thereby secured does hereby make subject and subordinate the
liens thereof to the Easements granted by Sigma Capital Corporation, a
California Corporation, 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 easements, and said easements
shall be paramount and superior to the rights of any purchaser under a
foreclosure of said Deed of Trust.
Said easements were recorded Dec. 19, 1985 ,File No. 85-478802
, and affects the real property described in said
Deed of Trust.
The undersigned Beneficiary of said Deed of Trust declares and acknowledges
that it hereby intentionally waive, 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 easements, 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: May 26, 1992
BENEFICIARY: North County Bank
ROW No.
Exc. No.
Project:
By:
,~~-~
-..
Stuart F. McFarland, Senior Vice President
By:
-5. Lfl
Gary T
Senior Vice President
(Signatures must be notarized. Notary form
attached.)
t
CAT. NO. NNOO737
TO ~945 CA (8-84)
(Cor'poratlon)
STATE OF CALIFORNIA
COUNTY OF San Diego
On May 26, 1992
said State, personally appeared
personally known to me or proved to me on the basis
of satisfactory evidence to be the:. per~on who executed
the within instrument as the ~enlorVlce
President, and -----------
personally known to me or
proved to me on the basis of satisfactory evidence to be
the person who executed the within instrument as the
----------- Secretary of the Corporation
that executed the within instrument and acknowledged
to me that such corporation executed the within instru-
ment pursuant t Ot5 by-laws or a resolution of its
board of directo .
WITNESS my h n ~off!c!a1 sea
Signature t'CtTj
~)21
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. TICOR TITLE INSI' ~ANCe
before me, the undersigned, a Notary Public in and for
Stuart ~. McFarland
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DlI80 COUNIV
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(This area for official notarial sean
STATE OF.... ... ....... ...... ........... ..........
C,ounty of... ............... ............,.. ..........
} ss
PARTNERSHIP FOR~l
On lhi 8.... n......_ ..day of........ __............... ..A. D.. 19...... ,before me.... _...._.... u" _. _.......................... ...... ,_,......... n.
e ~olary Public in and for the said County and State. residing therein. duly commissioned and sworn, personally appeared......
............................................n....................................... kno~ to me to be one of the partners of the partnership that
executed the within instrument. and acknowledged to me that such partnership executed the same.
]11 Witness llibrrrof, I have hereunto set my hand and aCfixed my official seal the day and year in this certificate lirsl
above written.
...................................................................................
Notary Public in and for said Counly and Stale.
GENERAL FOR~I
STATE OF.........~alibo.r.ni.a.............
County of..u......u.?:n....~lf.g9...............
} s.
On thi.........2Jith....day of.......Im)(.................A.D.. 19...9.2. before me. ....l'.a.tJ:;i.~;i.a..Ke.ll3.............................
a Nolary Public in and for the said County and Slate. residing therein. duly commissioned and sworn. personolly appeared......
.........:....f?J;lJ.ff1:1;..f. ,...M~f.?~J;mg.................................... .............................. ... .............. ................................
personally known to me lo be the person......whose name..... ..................subscribcd to the withan Instrument, and duly
acknowledged to me thal..........he..........executed the same
]11 Witness llifJrrrof.1 have hereunto set my hand an a{fixe my official seal L~e day and year in this certificate first
above written.
~
OFACIAL SEAL
PATRICIA KEllY
NoIlllY P\I:lIC.CalItofrjQ
INC DHO COUNlV.
"':tIi."~:I~~~ =-
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Patricia Kelly
.......J................................................................
otary Public in and for said 0 nty and State.
CORPORATIO:--l FOf(~1
~~~.;;~ ~:::::~~~~~~~~~~::::::::::::::: } s.
On thi..........);r;.<?o...d.y of........J.'!.~.':'..............A.D.. 19.?.~.. hefo,e me........<::.~~~~...~.:...~~~~~...................~..
I! Notary Publtc in nnd [or the said COw1ty ani State. residing therein. culy cOl':1missioned and sworn, personally appeared.......
.................~~;t;X..~.:...~.~.~!'?~........~.......................................x.no....i1 to me w be the.......s.~.~...~:t.<;.~....President
and........~.~:":'."':"'.':":::'.-:".':":::'.-:".':":::'."':'".-::.;:;:"....................u....................... knoYYTl to me t.o be t..he.......::.:.--:.::~.7.:::.....Secretary
of the .NOJ::th.. .Co.unJ:..y... B.ank.,........................................................................................... ..........................
the Corporation t..'1nt executed the within Instrument. known to me w be the persons who executed the within Instrument, on
behalf of the Corporation therein named. and acknowledged to me that such Corporation executed tho some.
3Jn Witnrss illlJrrrof. l have hereunto set my hand
.
OWICIAL
OlDY L &OIIEZ
1IlITM'f-':._
__ CGlIllY
.., Comm. 1-._ 21,1192
and affixed my OffiCia~l. sesl the da: and yesr ;n this certificate fir.t
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.........~{}\/~* .....:.~}:?~J?.............
-"';otnry Puny in end far Sllld County and{..sInle.
above written.
.
2J22
EXHIBIT "A"
LEGAL DESCRIPTION
FOR STREET DEDICATION AND DRAINAGE EASEMENT
FOR LAKE POWAY ROAD
PARCEL A -STREET DEDICATION
That portion of the Easterly Half of the Northerly Half of Lot 1,
in section 31, Township 13 South, Range 1 West, San Bernardino
Meridian, in the City of Poway, County of San Diego, State of
California, according to United States Government Survey, lying
within a strip of land 60.00 feet wide, the centerline of said
strip being described as follows:
Commencing at the Northwesterly corner of the City of poway Tract
No. 4093-R, as shown and delineated on Map No. 11396, recorded in
the Office of the County Recorder of said County on December
19,1985 as file no. 85-478802, being also the Northeasterly corner
of said Lot 1, also being the Northwesterly corner of Lot A of said
Tract; thence along the Westerly line of said Tract and the
Easterly line of said Lot 1 South 0050'14" East 277.33 feet to an
intersection with the centerline of "Lake poway Road" as shown on
said Map No. 11396, being also a point on the arc of a non-tangent
500.00 foot radius curve, concave Southeasterly, a radial line to
said point bears North 21029'26" west, being the TRUE POINT OF
BEGINNING of the herein described centerline; thence leaving said
Westerly line Southwesterly and southerly along the arc of said
non-tangent curve through a central angle of 51043'55", a distance
of 451.45 feet to point "X" of this description; thence continuing
Southerly along the arc of said 500 foot radius curve through a
central angle of 6016'44", a distance of 54.79 feet more or less
to a point on the Southerly line of said Northerly Half of Lot 1,
distant thereon North 89012'59" West (North 89059'01" East record
per Record of Survey No. 3777, recorded on November 23,1955 in said
Office of the County Recorder as file No. 154222) 314.10 feet more
or less from the Southeasterly corner thereof, a radial line to
said point bears North 79030' 05" West; thence continuing along said
centerline Southerly along the arc of said 500 foot radius curve
through a central angle of 10033'43", a distance of 92.17 feet;
thence tangent to said curve South 0003'49" East 452.14 feet to the
beginning of a tangent 500.00 foot radius curve, concave Westerly;
thence Southerly along the arc of said curve through a central
angle of 13008'42", a distance of 114.71 feet to a point on the
Southerly line of said Lot 1, distant thereon North 89035'08" West
344.66 feet (North 89037'53" East 344.78 feet record per city of
poway Tract No. 3545 according to Map thereof No. 10432, recorded
in said Office of the County Recorder on July 15,1982 as File No.
82-217760) from the Southeasterly corner thereof, a radial line to
said point bears South 76055'07" East (South 77041'52" East record
per said Map No. 10432); said point being shown on said map as the
intersection with the centerline of "Midland Road" which has
subsequently been renamed "Lake poway Road".
-2n4
. LEGEND. .
_ASEMENT PLA T
EXHIBIT "B"
i'.. " " ~ .'1'R1Ift OBOl:CATl:OIl GRAftBO RBRBWl:TR - PARCBL A
yo ///1 DUl:DGB BUDDT GRAlITBD HnnrTH - PARCBL B
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