Subordination Agreement 1990-450028
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RECORDING REQUESTED BY:
ISBU WG IS AM 1I: 47
THE CITY OF POWAY
\.i'Lt;~/\ L. LYLE, I
COUN I Y ~(ECOf{DLh t
'i...---- ---1
WREN RECORDED MAIL TO:
THE CITY OF POWAY
P.O. BOX".
POI,AY, CALIFORNIA
92064
"No ftl
THIS SPACE FOR RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
November 11, 1987 ,recorded in the Office of the County Recorder of San Diego
County DecEmber 2, 1987 . File No. 87-664922 . and as owner and holder of the
obligations thereby secured does hereby make subject ,and subordinate the liens thereof
to the Easement granted by Charleg F. Mer(",~l1ri() ;:mrl M=lry M Nlf:::l.rr~llr;(") as Husb3.nd and
Wife as Joint Tenants, as to an undivided one half interest. i'mn r.e=r Or.hoa i'mn
Gloria Ochoa, Husband. and Wife as Joint Tenants. as to an undivided one half interest.
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, ~ld 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 'l-.;;?5~9o '
the real property described in said Deed
, File No. 9"0- ~CJ7'/ I S-
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
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 satrl reI la.nce a.nd the execution by Beneficiary of this waiver,
relinquishment, and subordination.
Dated:
Mav 7. 1990
COUNTY BANK, a federal savings bank, formerly
known as .
BENEFICIARY: County Savll1CJs Bank
R/Il No.
Exc. No.
Project:
"dt:..i6l,~
B;:-1hr-.d&, kz ~
Martha M. Taylor
NOTE: ALL SIGNATURES MUST BE ACKNOWLEDGED
NOTARIES: Use proper form attached
or staple appropriate
form thereto.
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STATE OF CALIFORNIA )ss. 116 7
COUNTY OF----...5.anJ::a..liarb..ara_ __ J
on____MaL2~9__.2~___________, before me, the undersigned, a Notary Public in and for
said State, personally 1.Ppear6.j____~OUGLAS_H~_~REEN______________ _ __ _and
MA R'T'HA ~TAYT.OR __ ______, personally known to me (or proved to me on the
basis of satisfactory evidence) to be the persons who executed the within instrument as__ ___________
---- V ic~__president and_~~ i s~<:!-n t_ __ Secretary, on behalf of~OUNTL_BANK___S_ _a
federal savings bank, formerly known
.as COUNTY SAVINGS BANK '
the corporation therein named, and acknowledged to me that
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such corporation executed the within instrument pursuant to its
by-Jaws or a resolution of its board of directors.
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F
CIAl SEAL
M,GARNER
NOTARY PU8L1C. CALIFORNIA
PRINCIPAL OFFICE IN
SANTA BARBARA COUNlY
CclmmIasion e, l. 24, , ll83
(This area for official notarial seal)