Subordination Agreement 1990-443275
RECORDING REQUESTED BY
AND WHEN RECORDED, MAIL TO:
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CITY OF POWAY
CITY CLERK
CITY OF POWAY
P.O. BOX 789
POWAY, CA 92064
1990 AUG /4 AM 9: IS
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(This space for Recorder's Use)
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SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of
Trust dated October 3, 1989, recorded in the Office of the County
Recorder of San Diego County, October 4, 1989, File No. 89-534861,
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,
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 under a
foreclosure of said Deed of Trust.
partnership,
the Bistrin
Said easement was recorded 7-8/- 90 , File No. '70- ~/7 Eo'?
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 ~a~ver, relinquishment, and subcrdination
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
SUbordina;>tCf'
Dated: 7& .It; )990
R/W No.
Exc. No.
Project
Beneficiary:
CF Poway, Ltd., a California
limited partnership
By:
NOTE:
ALL SIGNATURES MUST BE ACKNOWLEDGED
NOTARIES: Use proper form attached
or staple appropriate form thereto.
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STATE OF CALIFORNIA ~l I ' Jss
COUNTYOF_~~ ~,,-*,_ -I
OrL-_~~ l.-Llt..t~i:L <7 ~___, before me, the undersigned, a Notary Public In and for
<C, Ll e. -
-XI..'~.Ll.'.~X LL'o.S~_~_~__=-'
-, personally known to me (or proved to me on the
basis of satisfactory evidence) to be the persons who executed the within instrument as~_
C V
___UV"~_~ C ~_preSjdent~_____secretary, on behalf of
Q. , F ' rrYl~ ~ J..'-<- '
----__LC) ~~-_T~ ,
the corporation therein named, and acknowledged to me that said
corporation executed the within instrument pursuant to its by-
laws or a resolution of its board of directors, said corporation being
said State, personally appeared
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known to m!3 t:;"'b~)fe general partner 01___
- - - _S:-t':J:Ul.!.: ~i".1:iI~
the limited partnership that executed the within instrument, and
acknowledged to me that such corporation executed the same as
such partner and that such partnership executed the same.
WITNESS m~~ and official s,ttJ
Signature~~~__ ~~_
Ao--~
., OFFICiAL SEAL
LINDA EICHTEN RICHARDSON
NOTARY PUBlIC. CAlIFORNIA
SAN DIEGO COUNTY
MyComm. E-~!)!resAua:.14, 19;2
(This area for official notarial seal)