Subordination Agreement 1989-676934
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RECO)Ul ING REQUESTED BY.:
89:OEU"'!4'Al'b8;',~5
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THE CITY OF POh1AY
I' ',' V&I~A L,l:YLE;J
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L;;t9UN '. .cCD!'<1~R ,
I,IHE,{ RECORDED :'!AIL TO:
'THE CITY OF- POliAY
P.O. EOX '18~
ii?clYJAY G\LI?O?JlIA
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'NO FEE'
92064
THIS SPACE ?OR RECO?~ERSUSE
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SUBORDINATION AGREE:'."NT
fOR'VALUE"RECE'PED', the uhdeis1.gned, as Beneficiary under a Deed ,of Trust dated
Febru a'Y' V 9 , 1989 " recorded in the Office of theCotinty Recorder, of San Diego
County :Fpbr'l1ary 13. 1989"FJ:1e'No. 89-075057 ,an'd as m,mer and holder of the
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obligatiDns, thereby secured does h",reby maKe subjedand subordinate the liens thereof
to the Easement granted by GATEWAY~POWAY ASSOCIATES, 'A CALIFORNIA GENERAL PARTNERSHIP
(For Storm Drci'i n Easement)
toTliE CITY OF 'PO\lAY, it i:Jein~ tinderstoodand agreed .that for,ec1osur" of' ,said De'ed of
Trust shall not affect, defeat or render invalJd 3I}.Y righ.ts under ,and by virtue' ,:of'
s<!~id' easement, .3p..dsaid easement s~~ii 1Je par2~cii.lI1-t and' superio-r to the rights of!
any purChaser under a 'foreclos~r~ of said Deed of 'Trust.
Said easement \Jas recorded /;j.... 7 -3'1
the real property described in said Deed
, File
of Trust.
No .3"'j....,(;c, .;;)c:'00
, and af.f'ects
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rl:1e l!p.der~igned Beneficia~y ofi s~id Deed of Trust ,declares and' ack.."'1m..,ledges that. ~t
h~re_by i'ntentionally ",'aives, ~elinquishes, and subordinates the priori.ties a.nd
supeiJ.ori'ties of the lien andi' charge of said Deed of Trust upon the land descr,ibed
therein i~ favor of sa~.d easern~ent., 'and' that it und;e~?~ari4sthat in reliance upon and
in consig.~_ration of this wa1ver,: relinquish.'7.ent, and ~utl.ordih2tion, speci'.:ic: monetary
ahd, .9~her' gb'+ig.:Jt.io:1s 'Will be entered i~t.o' by Third 'P~r~i~s .-:,~-ich ~'o~ld root be ~ade:~'
oref1~e~re.(t :'int'9 but., for sai!d) :reliance' a~n.9 . the' exetufi:onJ~Y 5enefi'c.:i:ary 0"; ~~;:is- ~~~iver"
re~1.r.i_~q!:11'shf.'e.n.t~ and 'subordination. - ~ ',"
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~Da ted':
3~:;l::?>IC=~':.:::{ :
GREAT AMER'ICAN FIRST SAVINGS:
BANK, A CALIFORNIA CORPORATION
OF N DIEGO
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Exc. '~io.
Project:
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;,LL SIC:;,\TURES :'!UST BE ,\C!:':;O;,'LEDC:D
:~OT\.:.11:S,: Use, .prop~r: fob:} .3tt.:Jched
or st~ple appropri~te
fora thereto.
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S.TATE OF CALIFORNIA
COUNTY OF San-.Die.go
On July 21, 1989
1074
I
155;
,before me, the undersigned, a Notary Public in and for
Timothy c. McCullough and
shid State, personally appeared
Kenneth M. Shook
,personally known to me (or proved to me on the
basis of satisfactory evidence) to be the persons who executed the within instrument as-As.s~
__JU..c_e
First Savings
President and_Vic8_PLeS~, on behalf of_GreaLAmer:ican
Bank
the corporallon therein named, and acknowledged to me that
such corporation executed the within instrument pursuantto its
by-laws or a resolution of its board of directors.
WITNESS my hand and official iieal.
sjgnalurej&l7d~ It !Jf&d2JlU
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I... r I 0.... " r t....... D'" I I ..
..t.-~1. or ~... OFFICIAL SEAL :
: ~. RANDI L WOODROW :
. :., 0. .'. : ~ NO!My PulJllc-C~llf,']fnld :
: ~ . ~ PrinCipal Of~ice In .
t San Diego Countv .
+ (""luO'OQ"'I" My Comm, Exp, Mar L 1991 :
.-+-+-+--+--++....................... co... II'.
(This area for official notarial seal)