Subordination Agreement 1990-443276
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RECORDING REQUESTED Bi
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CITY OF POWAY
956
AND WHEN RECORDED, MAIL TO:
CITY CLERK
CITY OF POWAY
P.O. BOX 789
POWAY, CA 92064
'SSO AUG 14 M\ 9: \5
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(This space for Recorder's Use)
tII0 FEE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of
Trust dated January 22, 1990, recorded in the Office of the County
Recorder of San Diego County, February 8, 1990, File No. 90-070537,
and as owner and holder of the obligations thereby secured does hereby
make subject and subordinate the liens thereof to the Easement granted
by
McMahon/Oliphant Properties, a California general
Herman L. Bistrin and Eve L. Bistrin, trustees of
Family Trust dated December 16, 1987, et al,
partnership,
the Bistrin
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 lmo".... "
foreclosure of said Deed of Trust.
_Said easement was recorded 7-~/-9o , File No. 9~--'l/7.30g- ,
and affects the real property described in said Deed of Trust.
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.
Dated:
Beneficiary:
R/W No.
Exc. No.
Project
BANK OF THE WEST, a California
corporation
By: ~I IL
I"-,~)l~~
NOTE:
ALL SIGNATURES MUST BE ACKNOWLEDGED
NOTARIES: Use proper form attached
or staple appropriate form thereto.
By:
State of California
} 55.
17
On this the 18th day of
July
1990_, before me,
County of Contra Costa
~
'~:~~~~~CD~G1;E; - ~-el
,jl NOTARY PUBlICCALlFORNIA r:
. CONTRA COST /l. COUNTY 91 ~
MY ~r::.:1~ ~X~,IRfS:~~:~~~
Rene' C. Rodriguez
the undersigned Notary Public. personally appeared
Rick K. Yee
KJ personally known to me
CJ proved to me on the basis of satisfactory evidence
to be the person(s) who executed the within instrument as
Vice President oron behalf of the corporation therein
named, and acknowledged to me that the corporation executed it.
~1~:dan~iCia~ .
Notary' Signature ~
COAPORATE ACKNOWLEDGMENT FORM 33 Rev 8/'d2