Subordination Agreement 1990-450027
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1164
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RECORDING REQUESTED BY:
THE CITY OF POliAY ,
1990 A.UG I S AM tl= 47
WHEN RECORDED "~IL TO:
I ..YEP_' L.LYLE'n I
~UN I Y HECOROE~
THE CITY OF POIiAY
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P,O.,BOX'189
POIiAY, CALIFOP~'1IA
NO FfE
92064
THIS SPACE FOR RECORDERS USE
SUBORDINATION AGREEHENT
FOR VALUE RECEIVED, the und'ersigned, as Beneficiary under a Deed of Trust. dated
~WVEMBER 27, 1989 , recorded in the Officp of the County Recorder of San Diego
County JANUARY 30. 1990 , File No. 90-053144 ,and as owner and holder of the
obligations t~ereby secured does hereby make subject and subordinate the liens thereof
to the Easement granted by PO,'1ERADO PROPERTIES, A GENERAL PARTNERSHIP
to THE CITY OF PO\~~Y, 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 paranount and superior to the rights of
any purchaser under a foreclosure of said Deed or Trust.
Said easement "as recorded ff- J - 9 ()
the real property described in said Deed
, File
or Trust.
No. 9c-71~" 'liP/
, 2.nd
affects
The unde=signed Benefici2ry of said Deed of Trust declares and ac~~owledges that it
hereby intentionally waives,. relinquishes, and subordinates"the priorities and
superiorities of che lien and charge of said Deed of Trust upon the land described
I therein in ravor or said easement, and that it understands that in reliance upon and
in. consideration of this waiver, relinquis~~ent) and subordination specific monetary
and other oblig~tions "ill be entered into by Third Parties "hich yould not be made
or entered into but for said reliance and ::he e:-:ecucion by Beneficiary of this waiver,
relinquish~enc, ~nd subordination.
Dated: July 20, 1990
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3;::::;::::ICL\.:....'L:TECH-BILT. Hie.
A CA~IFORNIA CORPORATIO~
3y:
PAUL
PRES I DENT
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~:OTE: ALL SIC::ATU?..ES ~.lUST TIE AC~W~~'l.EDGI:D
~IOTA.,'nt:S= Use proper for:;:, Oltt:lched
or stOlp1e appropriOlte
forC1 thereto.
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1165
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STATE OF CALIFORNIA SAN DIEGO Iss,
COUNTY OF _. ' I
On. J U L Y 2 n,J 1 99 g ,before me, the undersigned, a Notary Public in and for
said State, personally appeared~U L ~! CH~NG and
~~_, personally known to me (Qt)1,r~~IX(~'>M(r;)tlX%
lQ\~61l!;;l;~16~ ~l!'nl6.l) to be the person~who executed the within instrument as PRE S I DE N T
~~~~ ~t),l\~onbehalfof TECH-BI L T,
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\lY'-1W.....~.."'^~-...~y-?~Y.!'N>:h~~
,.,' ",. OFFICIAL SEAL ;.
ft";:m JEANETTE M. SCIIWARTZ ~
'~'~:("?, ,~~ NOTARY PUBLIC. CAUFGRNIA iii.
. ~~/ PRINCIPAL OFFICE IN ::.
ro.." SAN DIEGO COUNTY ~'
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INC.
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.