Subordination Agreement 2019-0499140RECORDING REQUESTED BY
FIDELITY NATIONAL TITLE COMPANY
AND WHEN RECORDED MAIL TO:
CITY OF POWAY
13325 CIVIC CENTER DRIVE
POWAY, CA 92064
ORDER NO.: 00129318-007-MNI
DOC# 2019-0499140
111111111111111111111111111111DD111111111111111111111111111111HIM 11
Oct 31, 2019 03:54 PM
OFFICIAL RECORDS
Ernest J. Dronenburg,Jr.,
SAN DIEGO COUNTY RECORDER
FEES: $32.00 (8B2 Atkins: $0.00)
PAGES: 7
SPACE ABOVE THIS LINE FOR RECORDER'S USE
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTIIER OR LATER
SECURITY INSTRUMENT.
THIS AGREEMENT, made this 6-0trJ-e ✓ 2C 1 2 of C
by Millad G. Bahhi and Mary 11. Sado, husband and wife as community property with right of survivorship
owner of the land hereinafter described and hereinafter referred to as "Owner", and The City of Poway
present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as "Beneficiary".
WITNESSETH
THAT WHEREAS, Owner has executed a deed of trust, dated July 18, 2014
to Advantage Title Company
, as trustee, covering:
See Exhibit A attached hereto and made a part hereof.
to secure a note in the sum of $ 58,856.00 dated July 18, 2014
in favor of The City of Poway, which deed of trust was recorded July 18, 2014 as Instrument No. 2014-300679, Official Records
of said county; and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $250,000.00 , dated
11)-a5-19 in favor of Mission Federal Credit Union
hereinafter referred to as "Lender", payable with interest and upon the terms and conditions described therein, which deed of trust
is to be recorded concurrently herewith; and
WHEREAS, it is a condition precedent to obtaining said loan that said deed of trust last above mentioned shall
unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien or
charge of the deed of trust first above mentioned; and
WHEREAS, Lender is willing to make said loan provided the deed of trust securing the same is a lien or charge upon the
above described property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that
Beneficiary will specifically and unconditionally subordinate the lien or charge of the deed of trust first above mentioned to the
lien or charge of the deed of trust in favor or Lender; and
Page 1 of4
Cmuborda (DS] Rev. 10/23/14)
,Order No.: 00129318 -007 -MN 1
WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary is willing
that the deed of trust securing the same shall, when recorded, constitute a lien or charge upon said land which is unconditionally
prior and superior to the lien or charge of the deed of trust first above mentioned.
NOW THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consideration,
the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Lender to make the loan above
referred to, it is hereby declared, understood and agreed as follows:
(1) That said deed of trust securing said note in favor of Lender, and any renewals or extensions thereof, shall unconditionally be
and remain at all times a lien or charge on the property therein described, prior and superior to the lien or charge of the deed of
trust first above mentioned.
(2) That Lender would not make its loan above described without this subordination agreement.
(3)
That this agreement shall be the whole and only agreement with regard to the subordination of the lien or charge of the deed of
trust first above mentioned to the lien or charge of the deed of trust in favor of Lender above referred to and shall supersede
and cancel, but only insofar as would affect the priority between the deeds of trust hereinbefore specifically described, any
prior agreement as to such subordination including, but not limited to, those provisions, if any, contained in the deed of trust
first above mentioned, which provide for the subordination of the lien or charge thereof to another deed or deeds of trust or to
another mortgage or mortgages.
Beneficiary declares, agrees and acknowledges that
(a) He/She consents to and approves (i) all provisions of the note and deed of trust in favor of Lender above referred to, and (ii)
all agreements, including but not limited to any loan or escrow agreements, between Owner and Lender for the disbursement
of the proceeds of Lender's loan;
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor has Lender represented
that it will, see to the application of such proceeds by the person or persons to whom Lender disburses such proceeds and any
application or use of such proceeds for purposes other than those provided for in such agreement or agreements shall not
defeat the subordination herein made in whole or in part;
He/She intentionally and unconditionally waives, relinquishes and subordinates the lien or charge of the deed of trust first
above mentioned in favor of the lien or charge upon said land of the deed of trust in favor of Lender above referred to and
understands that in reliance upon, and in consideration of, this waiver, relinquishment and subordination specific loans and
advances are being and will be entered into which would not be made or entered into but for said reliance upon this waiver,
relinquishment and subordination; and
(d) An endorsement has been placed upon the note secured by the deed of trust first above mentioned that said deed of trust has
by this instrument been subordinated to the lien or charge of the deed of trust in favor of Lender above referred to.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE
EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
(c)
The City,IIIrway a•
By:
Print Name and Title
Beneficiary
Millad G. Bahhi
(All signatures must be acknowledged)
Form Furnished By Fidelity National Title Company
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE
PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
(SUBORDINATION FORM "A")
Deed of Trust to New Deed of Trust
MIS DeCtifIr:NTIZI
COUNIMPAPS
Page 2 of 4
Casuborda (DSI Rev 10/23/14)
Order No.: 00129318-007-MN1
WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary is willing
that the deed of trust securing the same shall, when recorded, constitute a lien or charge upon said land which is unconditionally
prior and superior to the lien or charge of the deed of trust first above mentioned.
NOW THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consideration,
the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Lender to make the loan above
referred to, it is hereby declared, understood and agreed as follows:
(1)
That said deed of trust securing said note in favor of Lender, and any renewals or extensions thereof, shall unconditionally be
and remain at all times a lien or charge on the property therein described, prior and superior to the lien or charge of the deed of
trust first above mentioned.
(2) That Lender would not make its loan above described without this subordination agreement.
(3) That this agreement shall be the whole and only agreement with regard to the subordination of the lien or charge of the deed of
trust first above mentioned to the lien or charge of the deed of trust in favor of Lender above referred to and shall supersede
and cancel, but only insofar as would affect the priority between the deeds of trust hereinbefore specifically described, any
prior agreement as to such subordination including, but not limited to, those provisions, if any, contained in the deed of trust
first above mentioned, which provide for the subordination of the lien or charge thereof to another deed or deeds of trust or to
another mortgage or mortgages.
Beneficiary declares, agrees and acknowledges that
(a) He/She consents to and approves (i) all provisions of the note and deed of trust in favor of Lender above referred to, and (ii)
all agreements, including but not limited to any loan or escrow agreements, between Owner and Lender for the disbursement
of the proceeds of Lender's loan;
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor has Lender represented
that it will, see to the application of such proceeds by the person or persons to whom Lender disburses such proceeds and any
application or use of such proceeds for purposes other than those provided for in such agreement or agreements shall not
defeat the subordination herein made in whole or in part;
He/She intentionally and unconditionally waives, relinquishes and subordinates the lien or charge of the deed of trust first
above mentioned in favor of the lien or charge upon said land of the deed of trust in favor of Lender above referred to and
understands that in reliance upon, and in consideration of, this waiver, relinquishment and subordination specific loans and
advances are being and will be entered into which would not be made or entered into but for said reliance upon this waiver,
relinquishment and subordination; and
(d) An endorsement has been placed upon the note secured by the deed of trust first above mentioned that said deed of trust has
by this instrument been subordinated to the lien or charge of the deed of trust in favor of Lender above referred to.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE
EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
(c)
The City of Pow
By: v'
/Matthew
/ aril Hazeltine, City Manager
Christopher
Print Name and Title
Millad G. Bahhi
Mary H. Sado
Beneficiary Owner
(All signatures must be acknowledged)
Form Furnished By Fidelity National Title Company
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE
PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
(SUBORDINATION FORM "A")
Deed of Trust to New Deed of Trust
Page 2 of 4
Casuborda (DSI Rev. 10/22/14)
Order No.: 00129318-007-MN1
A notary public or other officer completing this
certificate verifies only the identity of the
individual who signed the document to which this
certificate is attached, and not the truthfulness,
accuracy, or validity of that document.
STATE OF CALIFORNIA
COUNTY OF )k-\ • c Ch ,. } ss:
OnI U lb \i'V before me,'
a,Notpry P,pblic, personal iapp6ared \\L�- i t (iM\\
who proved to me on the basis f satisfactory evidence to be
the person(s)whose name(s) i subscribed to he within
instrument and no edged to me that h99sl /tt e executed
the a e in hi h r/t (r authorized capac ty(ies) and that by
his/ e /tLr signature(s)on the instrument the person(s), or the
en ty upon behalf of which the person(s) acted, executed the
instrument.
I certify under PENALTY OF PERJURY under the laws of the
State of California that the foregoing paragraph is true and
correct.
WITNESS my hand and offici
eal.
Signature
A notary public or other officer completing this
certificate verifies only the identity of the
individual who signed the document to which this
certificate is attached, and not the truthfulness,
accuracy, or validity of that document.
STATE OF CALIFORNIA
COUNTY OF
} SS:
On before me,
a Notary Public, personally appeared
who proved to me on the basis of satisfactory evidence to be
the person(s)whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed
the same in his/her/their authorized capacity(ies) and that by
his/her/their signature(s)on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the
instrument.
I certify under PENALTY OF PERJURY under the laws of the
State of California that the foregoing paragraph is true and
correct.
WITNESS my hand and official seal.
Signature
Page 3 of 4
FOR NOTARY SEAL OR STAMP
I JEFF HOFER
Notary Public • California
Z:;+� xg; San Diego County
Commission # 2211631 y
My Comm. Expires Sep 23 2021
FOR NOTARY SEAL OR STAMP
Casuborda (DS1 Rev. 10!23/14)
California All -Purpose Acknowledgment
CIVIL CODE § 1189
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the
document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
On October 30, 2019 before me, Carol S. Legg, Notary Public, personally appeared
Christopher Matthew Hazeltine, who proved to me on the basis of satisfactory evidence to be
the person4 whose names) is/a-re subscribed to the within instrument and acknowledged to
me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/#eF/their signatures} on the instrument the person{s}, or the entity upon behalf of which
the persons} acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
CAROLS LEGG
Notary Public - California
San Diego County
Commission 8 2283958
My Comm. Expires Apr 28. 2023
Carol S. Legg, NottPublic
OPTIONAL
Title or type of document: Subordination Agreement, securing a note in the sum of $58,856.00
Document Date: October 30, 2019
Number of Pages: Two, plus one-page exhibit
Signers Other Than Named Above: Millad G. Bahhi and Mary H. Sado (not yet signed at time of
this notarization).
GOVERNMENT CODE 27361.7
I CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE
DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS
FOLLOWS:
NAME OF NOTARY: Jeff Hofer
COMMISSION #: 2211631
DATE COMMISSION EXPIRES: 09/23/2021
COUNTY WHERE BOND IS FILED: San Diego
MANUFACTURER OR VENDOR NUMBER: NNA1
TITLE COMPANY: Fidelity National Title Company
SIGNATURE:
Th
Dakota Leffew
PLACE OF EXECUTION: SAN DIEGO DATE: 10/31/19
Exhibit A
PARCEL I:
LOT 11 OF CITY OF POWAY TRACT NO. 06-06 THE MEADOWS, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE
OF CALIFORNIA, AS SHOWN BY MAP NO. 15743, FILED IN THE OFFICE OF COUNTY RECORDER OF SAN DIEGO COUNTY,
CALIFORNIA, ON MARCH 5, 2009.
EXCEPTING THEREFROM ALL OIL, GAS, MINERALS AND OTHER HYDROCARBON SUBSTANCES, LYING BELOW A
DEPTH OF 500 FEET, WITHOUT THE RIGHT OF SURFACE ENTRY.
PARCEL 2:
EASEMENTS REFERRED TO IN ARTICLE X OF THE DECLARATION RELATED TO COMMON STRUCTURES WHICH IS
RESERVED FOR THE BENEFIT OF PARCEL 1 ABOVE.