Subordination Agreement 1990-587659
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RECORDING REQUESTED BY:
THE CIn OF POWAY .
30 AM 8~' 27
WHEN RECORDED MAIL TO:
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THE CITY OF POWAY
P.O. BOX.'"
POl;AY, CALIFORNIA
92064
Loan #505761
THIS SPACE FOR RECORDERS
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
March 18. 1977 , recorded in the Office of the County Recorder of San Diego
County March 25. 1977 , File No. 77-11'00<;<;* . and as m-mer and holder of the
obligations thereby secured does hereby make subject and subordinate the liens thereof
to the Easement granted by CXlie W. Kelly and ~1arY Katherine Kelly, Husband and Wife
as Joint Tenants.
* The Beneficial Interest under said deed of tJ:ust was assi ed to Home Federal Savin s
and Loan Assoc. of San Dieao bv assianment recorded March 25. 1977 as File # 77-110056 OfF.
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, ana said easement shall be paramount and superior to the rights of
any purchaser under a foreclosure of said Deed of Trust.
Said easement was recorded 'JC.:T1lI':,E r<- :'0, 1'i'1~ File No. '5 'i51lc S)j
the real property 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 arid
i~ 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 f r 1
, ..., 0 mer y
known a~,
BENEFICIARY: Home Federal Savings and
Loan Assoc. of San Dieqo
By: Ge:?!~~t1fi!(~ S i ~ner
Dated:
lTllnp.: C;
1'l'l0
R/H No.
Exc. No.
Project:
By:
NOTE: ALL SIGNATURES MUST BE ACKNOWLEDGED
~ NOTARIES: Use proper form attached
or staple appropriate
form thereto.
STATE OF CALIFORNIA
COUNTY OF sa~ Diego
On J u 1 y I . 1990
the undersigned Notary Public, personally appeared
Gp-n.=. r: Rnttpr
(personally known to me)(proved on the basis of satisfactory evidence)
to be the Author i Led S i qner ~~~~~1Ie'l
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~~~~of the 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, pursuantto its laws, or a resolution, of its
Board of Directo~
Signature ,
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SAV 192 (11/85)
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2083
, before me,
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SEAL
OFfiCIAL SEAL
DIA WILLINGHAM
NOTARY PUBLIC. CALIfORNIA
PRINCIPAL OFFICE IN
SAN DIEGO COUNTY
'fIv Commis$iOn EID December lS. 1<)92
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