Subordination Agreement 1990-415754
RECORDING REQUESTED BY.: )
)
CITY OF POWAY )
)
AND WHEN RECORDED MAIL TO: )
)
CITY CLERK )
CITY OF POWAY )
P.O. BOX 789 )
POWAY, CA 92064 )
) This
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NO FEE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of
Trust recorded in the Office of the County Recorder of San Diego
County April l4, 1989, Document No. 89-196883, and as owner and
holder of the obligations thereby secured does hereby make subject
and subordinate the liens thereof to the Easement granted by
Woodcrest Development of San Diego, Inc., A California Corporation,
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 ')-,;(3- q lJ
No. 7tJ-39,f'D,;;(!? , and affects the real
Deed of Trust.
, File
property described in said
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:
San Bernardino County
Employees' Retirement
Association, A Public Entity
Organized and Existing Pursuant
to the County Employees'
Retirement Law of 1937
NOTE: ALL SIGNATURES MUST BE
ACKNOWLEDGED NOTARIES: Use
proper form attached or staple
appropriate form thereto.
By: -DA.
(}.
By:
I~'
STATE OF CALIFORNIA
ss.
COUNTY OF SAN DIEGO
On ;:, -,d;s-- 90 ,before me, the undersigl),ed, a Notary
Public in and for said State, personally appeared LJaAJ,f
//) ()/2d f'.t L , personally known to me; to be the person who
executed this instrument on behalf of San Bernardino County
Employees' Retirement Association, A Public Entity Organized and
Existing Pursuant to the County Employees' Retirement Law of 1937,
a National Banking Association, and acknowledged to me that such
corporation executed the same.
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WITNESS my hand and official seal.
'7ZrJL-T~ x:;) , ~UA-,
NOTARY PUBLIC
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@ OFFICIAL SEAL
.-.. TAMMY 0, TURNER
.' Notary Publlc-Califomla
ORANGE COUNTY
My Canm. Expo Aug. 18. tll92
My Commission Expires:
Y/;jl /9~
06/08/90
88327.sub