Subordination Agreement 1990-574895
322
9- 57~895
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RECORDING REQUESTED BY,
1'198 eet 23 AM 9 13
THE CITY OF PO~AY
VERp..L,. CiLE
'\ COUNTY RECORDER ~
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WHEN RECORDED MAIL TO:
THE CITY OF POIlAY
P.O. BOX ."
POl,AY, CALIFOR.'HA
92064
NO FEE
THIS SPACE FOR RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
May 10, 1988 , recorded in the Office of the County Recorder of San Diego
County May 24, 1988 , File No. 88-244678 , and as owner and holder of the
obligations thereby secured does hereby make subject.and subordinate the liens thereof
to the Easement granted by AMERICAN NEWLAND ASSOCIATES. a California general
partnership
to THE CITY OF POIlAY, 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 recorded JO-.:l3-<7'C>'
the real property described in said Deed
, File No. 9tJ-S'7<12c;(,L
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.
BENEFICIARY:A~GENERAL INVESTMENT
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Da t ed :
RN No.
EXG. No.
Project:
By:
NOTE: ALL SIG~ATURES MUST BE ACKNOWLEDGED
", NOTARIES: Use proper fonu attached
or staple appropriate
form thereto.
PBPIl
5647-6 (ParcelS 1,2, 3, 4 and 6)
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