Subordination Agreement 1991-0508911
r ~ U 1991-0508911
44802-0CT-1991 08=23 AM
RECORDING REQUESTED BY: ) OFFICIAL RECORDS
) SAN DIEGO COUNTY RECORDER'S OFFICE
CITY OF POWAY ) AHHETTE EVAHS, COUNTY RECOROER
) FEES: 0.00
AND WHEN RECORDED MAIL TO: )
)
CITY CLERK )
CITY OF POWAY )
PO BOX 789 )
POWAY, CA 92064 )
) This space for Recorder's use
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed
of Trust dated August 24, 1989, recorded in the Office of the
County Recorder of San Diego County August 28, 1989, File No. 89-
461671, and as owner and holder of the obligations thereby secured
does hereby make subject and subordinate the liens thereof to the
Easements granted by Michael Guendling and Yvonne Guendling,
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
easements, and said easements shall be paramount and superior to
the rights of any purchaser under a foreclosure of said Deed of
Trust.
Said easement was recorded Oc-\-o bey .:11 \ 'i "t I , File No.
ql~O~08'lO , 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 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, relinquishments, 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: August 27 , 1991
ITT FEDERAL BANK
By:
Title:
RjW No.
Exc. No.
Project: By:
Title: vice presid t
449
STATE OF CALIFORNIA )
) SS.
COUNTY OF ORANGE )
On August 27 , 1991, before me, the undersigned, a Notary
Public in and for said county and State, personally appeared
Ronald Rogers and Camille Copeland ,
personally known to me to be the Vice President
and vice President , respectively, of the
corporation that executed the within instrument, known to me to be
the person who executed the within instrument on behalf of the
corporation therein named, and acknowledged to me that such
corporation executed the within instrument pursuant to its by-laws
or a resolution of its board of directors.
WITNESS my hand and official
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ZAOtW'IV G PUETZ
, . ~Cdllmla
. E COUNTY
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