Subordination Agreement 2005-0663795
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Lender ServiCe - PLD 1 Bl.rS -,
. DOC' 2005--06637';15 I
Fidelity Nalionai Financial I
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~, :iE_d)RPING:RI:QllESTEr;> BY I i :lIilllllll illll'lllll 111111111111111111111111111111111111111111111111 '
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1:S1 Titl~ Comp~ny;a;.<:;aliforni" Corporation I
Escrow'No,_ 60006744-KJB:1301.149:18
r! Title'Orde['No,."1 ~O1'!~9 i AUG 04, 2005 8-00 AM
When Recorded"Mail Documen't'To:
tf Poway ,Redevelopment Agency uFFWL,::"L PECUF:[I'_
(lrl:Vj Ob ?6waej I J..:.tl [IIElie.! cn:JrH'j r:ECCIH[II:F-:". m-FICt
I.iF:EGrlFi"i ,I '::;t,,.1ITH. CFIIIfH', Flr-U.iR[IEH
FEE:, IfJIU
1 '3 '09"'V ~ iV lG ~e{\...~.e.t" 0'- F.:.:..CiC'= 4
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APN: 275,333-09 2005-0663795 ~
SUS6RDINATIC:>N AGREEMENT' ,- - -- -
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS, IN YOUR SECURITY INTEREST IN THE PROPERTY
BECOMING SUBJECT 'TO,AND OF LOWER PRIORITY ,[HAN THE LIEN OFSOME OTHER OR LATER
SECURITY INSTRUMENT
THIS,AGREEMENT, made July 15, 2005, by Special Friends,Foundations; a nonprofit Corporation
owner of the land hereinafter describedantl herei~after referred to as 'Owner," and PowayRedevelopment Agency
present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as
"Beneficiary" ,
WITNESSETH
'[HATWHEREAS, Special Friends Foundations"a,nonprofit,Corporation,dia'execute a deed of. trust, dated,June 26,
.2003,to~Nortti .'Arnericiin.;TitJe'Coi11pany~"as trustee~ 'covering - - - ._- ~ --
Parcel X,o/Parcel Map No. , in theCouniy of. San Diego, State of California, filed'in'the Office of the County Recorder
of San Diego, <See... ex: it;.b-tr II ~ II
to secure a note inthe,surhoN297,5~0;00, aatea,June 26;,'2003;' in favor of.Poway Redevelopm-ent'Agency, which
deed of trust was recorded as instruinenUlo, 03-766356, on June 27, 2003, in'book N/A, page N/A, Official Records
of said county, and
\Yj:lEREAS, Owner ha~.executed,or ,is about to.e!'ecute, adeed?f trust and note in the sum 6,1$335,000,00 dated
--l,(,l~ \'7, 1htfti ,'in.favorof'Union Bank'of California, N,A"hereinafter referred to as "Lender," payable with
intel'e t and" upon ,the '.terms and conditions d;scribed therein, which deed. 'of trust is.to be recorded cqn.currentiy
herewith; and
WHER_~f.?;' it- i~, a, ~~C?!).d-iti.o[l preced~_n~ to 'optaining s~id loan .ttlat said ,deed ,of trust .1<.I~t .above mentioned 'shall
unconditjonally..be an,d,'remain'at all ti")es a'lien or charge upon the land hereinbefore aescribeo, prior and superior to
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the. lien. or charge of'~.h~ deed' of tr~st fir~t above ~~,D!ioned;.a~d
,WHEREAS" lender is willing to make said loan~provided:the;deed:of;trusi securing,the,:same is-a lien or charge upon
the,a15i'ive.,described property prior and supeiiO! to tne-'ien or'charge;ofthe deed oftrust first above mentioned and
provjged.t.h1.3t Benefjci~fr'y',wiIJ'sp~cific~lly iH1C1; u'ncondit!onally'-subordinate the lien or charge of the deed of trust first
~.bove;'~me~tio!1ed?to: the:Jien, or, charge of the deed of trllst irlfavof' of Lender; and
CL T A SU.~O.RP'NA Tl.ofo.! "~" INITIALS:~'f..#!!_ _
FD.46A (Rev: 9/94) IEXISTINGDEED DF TRUST TO NEW DEED"OF TRUST) . Page No. 1 of 3
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'i A8Nn~:333'09
WHEREAS,,;t is;toittieom'utu'al benefit:of4he',parties/hereto that:Um~er make,suCti loan to, Owner; and.Beneficiery is
willing ttiat the,deedoftrlJst secuiing;,ttie same shall,when recordea; constitut~a lienor.charge upon'said',laridwhich
isuncondition'ally [iiior, and'superior to the lien of diarge ofthe,de~(j of trust .first above mentioned.
NOW, THEREFORE, inconsideration of .the' mutual benefits accruing to the parties hereto and other valuable
consideration~theJeceiptand sufficiency' of which c:onsiderationisheieby"a-cknowledged, andinorder to induce Lender
to'make'theJoan above referred to, iUs hereby declared, understood and.agieed as follows:
(1) That,'said deed of trust.',securing, saia;note' in fav6r~,of: Lender, a-"fld;any renewals or extensions thereof,
shall,unconaitionallybe and'remain' at all times a lien'or charge on,the property therein described, prior
and 'sliperior>to the 'lien Dr 'chciYgeof. the deed of trust ab6\,'e mentioned.
(2) That Le~g~~ would nat m~.ke;jt~~!o~.n' ~.~ove~~~s_cril?~d ,wjthou~ ~his~~ybordina~ion agreement.
(3) That this agreementshallbe thewhole and only, agreement with regard to. the subordination of the lien
or charge of the deed,ot.trustfirst.allove:mentioned to the lien.,orcharge:ofthe deed of. trust in favor
of lender above:referred.toand.shall.supersede and:cancel, butonly,insofar as,wouldaffectthe priority
between the deeds of .trust 'hereinbefore' specifically' described, any prior agreement as to' such
subordination including,buttnot,limited, those provisions, if any; contained .in the deed of trust first
above mentibned,'wnich'provide for the':subordination of the, liim .or charge thereof'to' another deed or
deeds of trust or to, another mortgage or mortgages"
Beneficiary declares;,agrees.'and acknowledges that
(a) He consents to and;approves, Ii) all provisions of the note and .deed.of.trust in favor of Lender above
referred to;, and Wi ,~II .ag~e~!'lents, including 'but~~t -1;(Tlited to any '9an or escrow agreements,
between Owner and ~ender for the disbursement,of'the'proceeds of Lender's loan;
Ib) Lenaer in}makingcfisi?urs~rnertsl;>~rsuant to. aflY s,!ch agr~_~,rnent is under [19 obliga.to~3'.i!uty to,.!',o[
-. - - ,- - hos Limderrepresented t~at. it will; see to theCapplicatio,n of such proceeds by the person or persons
t.o yo.',hom L:.ender displjL?e~'[~uchq?roc;:eeds' 8T]d 811.Y applic:atjo~. or use -of such proceecfs for purposes.
ather thEm those. provi(jed fqr' In suchagreemenvor agreements shall not date,at the subordination
he'rein 'mader.in whol~~or' j~ part; . ..
.... "_ _ u .
Ic) He intentionally and',unconditionallx waives, relinquishes and subordinates the lien or'charge of -the
deed of'trust first above;mentioned!;in favor of the;lien,or'cnarge upon said land 01. the:deed of trust
in .favor of Lender aboveireferred~to and ,understands,that'in reliance upon, .and in,consider-aiibrr;of, this
waiver, .relinquishment,and subordination,. specific;loansJandiadvancesare .being 'and will b-a made!and,
as'part-"and parcel thereof, specific,monetary'and other,. obligations are being and will be entered'ihto
w~ich would not be,'ma(Je~,.or arite'red into but for said reliance"upoll this waiver, relinquishment arid
subordillation;and
Id) An ~ndorsemenJ has;been'placed'upon the,note secured. by the deed'of trust first,abovementioned ,that
said deed of trust has by'this instrument:beensubordinated to the lien or charge otthe deed of. trust
in.favorof Lender ~bove referred to.
CLTA SUBORDINATION "A" INIT1ALS;~__
FD-46A (Rev 9/94) (~XISTING DEED'OF TRUST TO NEW, DEED'OFTRU_STl Paga ~o. 2 of 3
" . ::l848.
A~N: 275'333-09
NOTICE: TH[SSUBOfl,D1t-lATI()N AGREEMEt>jT CONTAINS A f'ROVISION'"WHICHALLOWS THE PERSON OBLIGATED
,', . >," ',f, ,~_.. . -, '_ "".. _, "-. _ ,.~ " ~,.. <...... __, _,'_ _ .. ..
ON YOUR REALPROPERTN SECURITYTO;OBTAIN:AlOAN APORTION OF WHICH MAY BEEXPENDED FOROTHER
PURPOSESTH~N IMPROVEMENT OF THE LAND
IT IS' REC6I\1r~iENDEbj'THA1> PRIOIFTO THE EXECUTION ,OF THIS SUBORDINATION AGREEMENT, THE PARTIES
CONSULTWITH'1'HEfR ATTORNEYS WITH RESPECT THERETO.
CZt, .
development Agency Special Frie,nds Foundations, a n,-onpro," fi~t C rporation,1O( 120, bel-I-
h Johnson ~'~~. "Rtil'1Urf
al'1cl DCrtAse. -'&('fal'l+
~eneficiary Owner
(ALLSIGNA-rURES MUSTBE ACKNOWLEDGED)
STATE OF CAYJttI\l""1)1 () A'D'
COUNTY OF , ,,V I LX-~') ,
ON i:t 11 0 S before,me, lJ~llQ;ilf&lA~VV') personally appeared
De:.loDr0-n 0ol1n'SoVl ~
personally known to me '(of'provedto ,riie'on the(basisof satisfaCtory'evidence) to be the person(s(whose,nameM
is/,.e--subsciibed,totne within,instrument ahdacknowledgeclto)n" tha0>.!1she/i}leY execl!tecl thes1me~jn;l)iSL5e!jte~
auth-oiiied:capaciti,iU,(sLandthafbY:!>is/herLtne,r.slg"-!'tu.re.l6l' on the instrumen) the person1Jl!',or the,entity,upon behalf
of which the'perso!JUi acted~ exeeuted'the~instfument,
Witness my hand and,officialseaL
, lIIlB1IY CClLIH'
Signature1]tWJ: t~v:~~Q~ ~ A/\/Yl , ~" ifC~~7;~J!~:" .~
~"'CoRn.""0cl21.2Oll7
STATE OF ORNi):.... _ .
cfii~j;/JJ", "
o ,()::]!:{" before _ . . personally appeared
.I. '
perSOnailY~t~,1-~.the'basisIOf,sa"sfact~f~ev~::t~ person~) whose name(,,)
iS/are'stibscribed.to,the within i~trumen"t andiacknowledged;to;;'e';that:helshe'lthey:exec-ufed'tlie sa-me in hislheiltti-;t
aui~rized,'capacity:(ies),:and that by his/her/theirlsjgn~ture(s) on:th~ instrumEfht thtperson{sl, or the entity upon beh:a1f
of~which,the' pers6'n(SY,acted, executed'theLins'trument. ~ -
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Sign
CL T A;sueoRD1NA TIOl',f.;' A ~
FD:46A (Rev. 9/94) (EXISTING DEED';OF TRUST-'TO NE'W DEED OF TRUST') , Page No.3 of 3
'-CHERYL A; 'ADLER..'
'CQMM: #1475923 !;;
NOTARV,PUBUC oCAUFORNIA !i
, SAN DIEGO COUNTY
. CommisSIOn ires Mar. 31, 2008
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. 1849 Order,.No 1301149 -1301149-18
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EXHIBIT "ONE"
Lot 21 OofGreen Valley,Estates Unit No 11,,:inthe County of San Diego, State of
California, according to Map thereof No 4586, filed in the office of the County Recorder
of said San Diego County on July 13, 1'960
Assessor's Parcel.No 275-333-09
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