Subordination Agreement 1991-0438030
1899
[~~ U 1991-0438030
27-AUG-1991 08:55 AM
OffICIAL RECORDS
SAN DIEGO COUHTY RECORDER'S OFFICE
ANHETTE EVAHS, COUNTY RECORDER
FEES: O. 00
RECORDING REQUESTED BY,
CITY OF POWAY
AND WHEN RECORDED MAIL TO:
CITY CLERK
CITY OF POWAY
P.O. BOX 789
POWAY, CA 92064
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This Soace for Recorder's use
SUBORDINATION AGREEMENT
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FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed
of Trust, Security Agreement and Fixture Filing with Assignment of
Leases, Rents and Agreements dated October 11, 1990 ("Deed of
Trust"), and recorded on October 29, 1990 in the Office of the
County Recorder of San Diego County, California, as Instrument No.
90-585579, and as owner and holder of the obligations thereby
secured does hereby make subject and subordinate the liens thereof
to the Easements granted by Gateway Medical Building Joint Venture,
a joint venture between Pomarado Medical Building Associates, a
California limited partnerShip and Gateway Medical Building
Associates, a California limited partnership, 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.
WERE
Said easements wee recorded
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described in said Deed of Trust.
A"~\Js;, ;<1, \<i'1 \ ,File No$. 'f\-4?'30).~
, and affects the real property
The undersigned Beneficiary of said Deed of Trust 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 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:
BENEFICIARY: The Prudential
Insurance Company
By: (~.u~tM of America
~re~er-J-
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R/W No.
Exc. No.
Project:
(Signatures must be notarized.
Notary form attached)
1900
STATE OF CALIFORNIA
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COUNTY OF LOS ANGELES
onAtJ6vS.-r..J ,1991, before me, the undersigned, a Notary
PUblic in and for said state, personally appeared
(!llfZo I- tv FIg oS: , 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 the.e P/f'fiSIDE';J-r of The
Prudential Insurance Company of America, the corporation that
executed the within instrument, and acknowledged to me that such
corporation executed the same.
WITNESS my
Signature
hand and official seal.
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@ OFFtCIAlNOTAAYSEAl.
, 8AllBARA JOLIVETTE
1-. ~PubIic-~
LOS ANClELES COUNTY
My Comm, E... JUl 07,11l8a
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