Subordination Agreement 1990-398027
RECORDING REQUESTED BY:
CITY OF POWAY
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gr 398027
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CITY CLERK
CITY OF POWAY
P.O. BOX 789
POWAY, CA 92064
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AND WHEN RECORDED MAIL TO:
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This space for Recorder's use
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
August 15, 1988, recorded in the Office of the County Recorder of San Diego
County September I, 1988, File No. 88-442022, O.R., and as owner and holder of
the obligations thereby secured does hereby make subject and subordinate the
liens thereof to the Easement granted by Darlo Franchi and Marla Franchi, hus-
band and wife, 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.
Said easement was recorded t.-~6--9() ,File No.
90 - .3.1),;;( ..;;,t,s- ,and affects the real property descri bed 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 priori-
ties 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.
BENEFICIARY:
Russell F. Fox
Joline G. Fox
By'
NOTE: ALL SIGNATURES MUST BE By:
ACKNOWLEDGED NOTARIES: Use
proper form attached or staple
appropriate form therto.
INDIVIDUAL
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ACKNOWLEDGMENT
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CALIFORNIA
SAN DIEGO
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h@"'OFFICIALSEAl
,\ .,.' ,_.. SHARONSOUlSENlERIlY
=e ' . NoloIy_
'f'" SAN DIEGO COUNTY
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Itc.nm. Elrp. Feb.11, 1.
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P1lRINERSHIP ~
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1 this the 22ND day of JULY 19 89 , before'me, *
~ 55. 5H1t-K-.oN:S, ~lkl5E"-l~ - , :
the undersigned Notary' Public, persona 11 y appeared *
RUSSELL F. FOX AND JOLINE G, FOX
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[I personally known to me
o proved to me on the basis of satisfactory evidence
to be the person(s) whose narre(s) ftIk subscribed
to the wi1;hin instrument, and acknowledged that ~"1
execu J.t.
WI'lNES hand and seal.
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On this the
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day of
State of
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19 _, before me, *
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the undersigned Notary Public, personally appeared
o personally known to me
o proved to me on the basis of satisfactory evidence
to be the person(s) who executed the within instrument
on behalf of the partnership, and acknadedged to me that
the partnership executed it. '
WITNESS my hand and official seal.
roRPORAn: ~
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* State of On this the day of 19 _, before me,
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* County of )
(6/84)
o personally known to me
n proved to me on the basis of satisfactory evidence to
'De the person(s) who executed the within instrument as
or on behalf of the corporation
and acknowledged to me that the.corporation
therein named,
executed it.
WITNESS my hand and official seal.