Subordination Agreement 1990-587660
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RECORDING REQUESTED BY:
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THE CITY OF POWAY
WREN RECORDED MAIL TO:
THE CITY OF POWAY
P.O. BOX ,....
POWAY, CALIFORNIA
92064
#9045976
THIS SPACE FOR RECORDERS
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SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
'December 12, 1985 , recorded in the Office of the County Recorder of San Diego
County December 19, 1985 , File No. 85-478343 , and as owner and holder of the
obligations thereby secured does hereby make subject.and subordinate the liens thereof
to the Easement granted by O:J.ie W. Kelly and Mary Katherine Kelly. 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 easement, and said easement shall be paramount and superior to the rights of
any purchaser under a foreclosure of said Deed of Trust.
Said easement was
the real property
recorded 0'-1 of)tO R- 6Cl, l'lelo File No. '515 t ~ S I';
,
described in said Deed of Trust.
, and affects.
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, 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. HomeFed Bank, F.S.B., formerly
known as,
Herne Federal Sayinqs and
Loan Ass=., a Corporation
Dated:
June 6. 1990
BENEFICIARY:
R/I~ No.
Exc. No.
Proj ect:
By:
Signer
By:
NOTE: ALL SIGNATURES MUST BE ACKNOWLEDGED
~ NOTARIES: Use proper form attached
or staple appropriate
form thereto.
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STATE OF CALIFORNIA
COUNTY OF San Diego
On July /1 , 199O
the undersigned Notary Public, personally appeared
hPn;;:a r: Rnttpr
(personally known to me)(proved on the basis of satisfactory evidence)
to be the Author I zed S i qner Xi*l!SlIl~~l\XIl
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li~mofthe corporation that executed the within instrument to be
Hie persons who executed the within instrument on behalf of the
corporation therein named, and acknowledged to me that such
corporation executed the same, pursuant to its laws, or a resolution, of its
Board of Directors. . '., ~
Signature ~ !J A It I Ifl.
SAV 192 (11/85)
SEAL
OFFICIAL SEAL
DIA WilLINGHAM
NOTARY PUBLIC. CALIFORNIA
PRINCIPAL OFFICE IN
SAN OtEGO COUNTY
My CafMnlssion Ell' December 18. 1992
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