Subordination Agreement 1992-0423125
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RECORDING REQUESTED BY:
oot~ 1992-0423125
07-JUL-1992 09=28 AM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
AHHETTE EVAHS, COUHTY RECORDER
FEES: 0, 00
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AND WHEN RECORDED MAIL TO: )
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CITY OF POWAY
1671
CITY CLERK
CITY OF POWAY
POBOX 789
POWAY CA 92G64
No transfer tax due
(This soace for Recorder's Use)
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust
dated June IS, 1977, recorded in the Office of the County Recorder of San
Diego County July 5, 1977, File No. 77-266481 and as owner and holder of the
obligations thereby secured does hereby make subject and subordinate the liens
thereof to the Easements granted by Peter A. Orner and Rosalind D. Orner,
husband and wife, as joint tenants, 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.
Sa i d easements were recorded to ~.;U - '\ ;L , File No. \ 'Vi.9. - 0"':> "6 'if "Hi..
, 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
subordinatitm.
Dated:
Glendale Federal Bank, formerly
Glendale Federal Savings and
Loan Association, a United
States Corporation.
JUNE 4, 1992
BENEFICIARY:
ROW No.
Exc. No.
Proj ect:
~~
C. WILLIAM ON, VICE PRESIDE~
By:
By:
(Signatures must be notarized. Notary form
attached.)
~l
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
S5.
WITNES my hand and official seal.
1672
@
OFFICIAL SEAL
ANNA M. HERNANDEZ
NOTARY PUBlIC.CALIFORNIA
PRINel PAl OFFICE IN
SAN DIEGO COUNTY
My Commission ExpIres October 17, 1994
EXHIBIT "A"
1673
ALL THAT PORTION OF THE WEST HALF OF THE SOUTHWEST QUARTER OF
SECTION 30, TOWNSHIP 13 SOUTH, RANGE 1 WEST, SAN BERbUURDO BASE AND
MERIDIAN, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, ACCORDING TO OFFICIAL PLAT THEREOF, HORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWESTERLY CORNER OF LAND DESCRIBED UNDER
PARCEL 2 IN DEED TO PETER A. ORNER AND ROSALDlD D. ORNER, RECORDED
JULY 5, 1977 AS FILE/PAGE NO. 77-266480 OF OFFICIAL RECORDS;' THENCE
ALONG THE NORTHERLY LINE OF PARCEL 2 OF SAID ORNER LAND, SOUTH
80'52'50" EAST, 20.00 FEET; THENCE SOUTH 9007'10" WEST, 28.89 FEET
TO A POINT IN THE SOUTHERLY LINE OF PARCEL 2 OF SAID ORNER LAND;
THENCE ALONG SAID SOUTHERLY LINE, NORTH 80'52'50" WEST, 20.00 FEET
TO THE SOUTHWESTERLY CORNER THEREOF; THENCE ALONG THE WESTERLY LINE
OF PARCEL 2 OF SAID ORNER LAND, NORTH 9' 07' 10" EAST, 28.89 FEET TO
THE POINT OF BEGINNING.
THIS LEGAL DESCRIPTION (EXHIBIT "A") AND THE PLAT (EXHIBIT "B"),
ATTACHED HERETO AND MADE A PART OF THIS LEGAL DESCRIPTION, WERE
PREPARED BY ME OR UNDER MY DIRECTION.
~__._~~ 9-1/-90
LAWRENCE . HO RE, L.S. 5486
EXPIRES: 9/30/92
1674
11 68.56'
NOTE:: ALL MATHEMATICAL DATA
SHOWN HEREON IS BASED
UPON R.O.S. 7088 AND
DEED REC. JULY 5, 1977
AS FILE NO. 77-266480
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EXHIBIT DB" WATER EASEMENT
A.P.N. 275-700-38
REF TRACT NO. 88-12
OL\TF.' 8-31-90 IN 89-37
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A.P.N. 275-700-38
REF TRACT NO. 88-12