Subordination Agreement 2003-0821770
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. .. DOC. 2003-0821770
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Recordin~ requested by ,
First Americall Title JUL 10. 2003 4:00 PM
AND WHEN RECORDED MAil TO: c1<310~ OFFICIAL RECORDS
CITY OF POWAY SAN DIEGO COUNTY RECORDER'S OFFICE
13325 POWAY CENTER DRIVE GREGORY J. SMITH, COUNTY RECORDER
POWAY, CA 92064 FEES: 1'3.00
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fp Space AbOve This Lme tor Kecorder's Use Only
Sr A,P,N 321-140-22-00 Order No 988819-9 Escrow No. E49690
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR
LATER SECURITY INSTRUMENT.
THIS AGREEMENT, made this Twenty-Fourth day of June. 2003, by
SUSAN L. WEEKS, an unmarried woman
owner of the land hereinafter described and hereinafter referred to as "Owner,"and
CITY OF POWAY REDEVELOPMENT AGENCY present owner and holder of the deed of trust and note first
hereinafter described and hereinafter referred to as "Beneficiary".
WITNESSETH
THAT WHEREAS, Owner has executed a deed of trust, dated APRIL 18. 2003, to COMPREHENSIVE
HOUSING SERVICES. INC., A CALIFORNIA CORPORATION, as trustee, covering
LOT 10'C!FB.ELVEDERE ESTATES UNIT NO 1, IN THE CITY OF POWAY. COUNTY OF SAN DIEGO, STATE
OF CALIFORNIA, ACCORDING TO,MAp, THEREOF NO 4015, FILED IN THE OFFICE OF THE COUNTY
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RECORDER OF SAN DIEGO COUNTY, NOVEMBER 19, 1958, AS" MORE COMPLETELY DESCRIBED IN
ATTACHED LEGAL DESCRIPTION MARKED EXHIBIT "A" ATTACHED HERETO AND MADE A PART
HEREOF
to secure a note in the sum of $ 10,000.00, dated APRIL 18, 2003, in favor of CITY OF POWAY
REDEVELOPMENT AGENCY, which deed of trust was recorded APRIL 30, 2002, AS NO' 2002-1012153,
Official Records of said county; and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of
$138,000.00, dated '7/1/ t?3 ' in favor of COUNTRYWIDE HOME LOANS, hereinafter referred to as "Lender"',
payable with interest and upon the terms and conditions described therein, which deed of trust is to be
recorded concurrently herewith, and
WHEREAS, it is a condition precedent to obtaining said loan that said deed of trust last above mentioned
shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior
and superior to the lien or charge of the deed of trust first above mentioned, and
WHEREAS, Lender is willing to make said'loan provided the deed of trust securing the same is a lien or
charge upon the above described property prior and superior to the lien or charge of the deed of trust first
above mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien or
charge of the deed of trust first above mentioned to the lien or charge of the deed of trust in favor of Lender:
and
SUBORDINATION AGREEMENT CONTINUED ON NEXT PAGE
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CONTINUATION OF SUBORDINATION AGREEMENT
WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and
Beneficiary is willing that the deed of trust securing the same shall, when recorded, constitute alien or charge
upon said land which is unconditionally prior and superior to the lien or charge of the deed of trust above
mentioned.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable
consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to
induce Lender to make the loan above referred to, it is hereby declared, understood and agreed as follows:
(1) That said deed of trust securing said note in favor of Lender, and any renewals or extensions thereof,
shall unconditionaliy be and remain at all times a lien or charge on the property therein described, prior
and superior to the lien or charge of the deed of trust first above mentioned
12) That Lender would not make its loan above described without this subordination agreement,
(31 That this agreement shall be the whole and only agreement with regard to the subordination of the lien
or charge of the deed of trust first above mentioned to the lien or charge of the deed of trust in favor of
lender above referred to and shall supersede and cancel, but only insofar as would affect the priority
between the deeds of trust hereinbefore specifically described, any prior agreement as to such
subordination including, but not limited to, those provisions, if any, contained in the deed of trust first
above mentioned, which provide for the subordination of the lien or charge thereof to another deed or
deed of trust or to another mortgage or mortgages,
Beneficiary deciares, agrees and acknowledges that
(al He consents to and approves (il all provisions of the note and deed of trust in favor of Lender above
referred to, and Iii) all agreements, including but not limited to any loan or escrow agreements, between
Owner and Lender for the disbursement of the proceeds of Lender's loan,
Ib) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor
has Lender represented that it will see to the application of such proceeds by the person or persons to
whom Lender disburses such proceeds and any application or use of such proceeds for purposes other
than those provided for in such agreement or agreements shall not defeat the subordination herein
made in whole or in part;
(cl He intentionally and unconditionally waives, relinquishes and subordinates the lien or charge of the
deed of trust Iirst above mentioned in favor of the lien or charge upon said land of the deed of trust in
favor of Lender above referred to and understands that in reliance upon, and in consideration of, this
waiver, relinquishment and subordination specific loans and advances are being and will be made and,
as part and parcel thereof, specific monetary and other obligations are being and will be entered into
which would not be made or entered into but for said reliance upon this waiver, relinquishment and
subordination; and
(d) An endorsement has been placed upon the note secured by deed of trust first above mentioned that
said deed of trust has by this instrument been subordinated to the lien or charge of the deed of trust in
favor of Lender above referred to,
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
OBUG TED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OR WHICH
AY B EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE lAND
~tt<-- ;;( [~
Pamela Hilczak SUSAN L. WEEKS
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CALlF~RNiAAtL'PURPOt ACKNOWLEDGMENT . 28108
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No. 5907
State of r, a. li~")( (Yl 0.....
County of SA/) C),peo
On J111-y-! ) cJOO3 C'\L I/)t" D. WMOJ"II AlOla.fu tl,/"'Iir
before me,
DATE NAME, TITLE OF OFFICER E Go, JANE DOE, N(jTARY PUBLIC"
personally appeared .\)/1 (l\ P \ tl Wi Ic.zA-k-
NAME(S) OF SIGNER(S)
Rpersonally known to me - OR - [;;;J pro\l,?Q. to f.T-le OR tho basis of sffiiefaetefj miiddnoo
l~" =.~= -I to be the person(.8") whose name(,8') (fj)w=
subscribed to the within instrument and ac-
knowledged to me that -l:le~/th.ey executed
~ -,,; -., PuIlIic ' c..- the same in J:t+s/@/t~r authorized
j San DIego CO<B1ly =:I
MvCGmm.fIi*es.....30. capacity(i.Q.s..j, and that by R+s/@Ittte-ir
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signature(s) on the instrument the person(4,
or the e,i;1tjtyupon behalf of which the
person(.a-) acted, executed the instrument
WITNESS my hand and official seal.
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SIGNATURE OF NOTARY
OPTIONAL
though,the data below is not required by. law, it may prove valuable to persons relying on the document and could prevent'
fraudulent reattachment of this form,
CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT
D INDIVIDUAL
D CORPORATE OFFICER 3U'oo-d,(\a:\iifl AarY't-
TITLE OR TYPE OF DO MENT
TITLE(Sl I
D PARTNER(S) D LIMITED
D GENERAL .;z
D ATTORNEY-iN-FACT NUMBER OF PAGES
D TRUSTEE(S)
D GUARDIAN/CONSERVATOR
D OTHER: :::ILoeii)' l.J, J.:CO ~
DATE OF DOCUMENT
SIGNER IS REPRESENTING: SU~() L. vJee~ S
NAME OF PERSQN(S) OR ENTITY(IES)
SIGNER(S) OTHER THAN NAMED ABOVE
@1993NATlONALNOTARY'ASSOCIATION.6236RemmeIAve., P.O. Box 7184. Canoga Park, CA 91309-7184
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STATE OF CALIFORNIA)) }ss.
COUNTY OF 8'1A/\ .t?jO }
On
personally appeared
, pI':, "ulldlly Imown lu II Ie
(or proved 10 me on 1I1e basis 01 satisfactory evidence) to be the ~so""iDS) wllose @(s.@lIe
subscribed to Ille witllin instrument and acknowledged to me tllallle@tlley executedlhe same,
i~ lijs~llleir aU~IlOdied~S~ a~dlllal by_l~i~@llleir~s) ollJI]ginstru1lleilFthe"_
~s) or lhe en lily upon bellalf 01 wllich the~) acted, executed the instrumenl.
WITNESS III I
Signature
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- .Comm, 11359288." 1Il
III NOTARVPUIllIC 'CALIFORNIA,.
-',_. . :San.:Di~gD~_CDu~ ':
~ _ My,~olT!m::Jlpifes,Jlln.~,2006 ~
!This,area 101 oHiGial nolallal seall
Tm, of Dowm",' ~Y~V'&\i<JVl flgWP""-""-T
DElle of Documenl 1-. 0 . No 01 Pages '2.
Other signatures I;olacl<llowledged ~\N1P k W1 tc ;?a. ~
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, Order. Number" DIV~988819
,Page Number" 5
13 )Llll!l" Z'6/Oq (t
LEGAL DESCRIPTION
Real property in the City of Poway, County of San Diego, State of California, described as follows:
LOT 10 OF BELVEDERE ESTATES L)N,fT NP, 1, IN THE CITY OF P0WAY, COUNTY OF SAN DIEGO,
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STATE;OF CALIFORNIA, ACCORDINC; Tg THE MAP THEREOF NO. 4015, FILED IN THE OFFICE
OF THE COUl';lTY RECORDER OF SAN DIEGO COUNTY, NOVEMBER:19,,195B, EXCEPTING
THEREFROM THE NORTHERLY 26.00 FEET OF THE WESTERLY 10.00 THEREOF
APN: 321-140-22-00
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First American Title