Subordination Agreement 1989-517164
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RECORDINGREQUE~TED' BY.
CITY OF POWAY
AND WHEN RECORDED MAIL TO:
CITY CLERK
ClJY OF POWA Y
1'.0. BOX 789
POWAY, CA 92064
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LEpU'lTY RECORO~
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NO FEE
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SUBORDINATION, AGREEMENT
FOR VALUE RECEIVED, the undersigned, as assigned Beneficiary under a Deed of
Trust assignment dated August 19, 19B8, recorded in the Office of the County
Recorder of San Di ego County Augus t 29, 1988, Fil e No. 88~~30970, ,and as owner
and holder of the obl igations thereby secured does hereby make s\jbJect and
subordinate the liens thereof to the Easement granted by Christian Schweizer
an'd Mary Schweizer, husband and wife, to THE CITY OF POWAY, it beiing understood
and agreed that foreclosure of said Deed of Trust shall not affect, defeat Gr
renderinval id any rights under and by vi rtue of said easement, and said, ease-'
meht shall be paramount and superior to the rights of any purchaser 'under a
forecl()5ure oJ said Deed of Trust.
Said easement, was
1197' -I~,;;( 7 71.0
of-Trust.
recorded 9 - 7-89
, and affects the
, File No.
real property described in said De'ed
The undersigned Beneficiary of said Deed of Trust declares and acknowledges
~~at it hereby intentionally waives, relinquishes, and subordinates the priori-
ties,and superiorities of the 1 ien and charge of said Deed of Trust upon the
land :d'est'ribed therein in favor of said easement, and that it understands that
in reliance upon and in consideration of this waiver, relinquishment, and
\ sUborq,i"nation specific monetary and other obl igations wi 11 be entered into by
;, Thi'rd Harties which would not be made or entered into but for said reliance and
the execution by Beneficiary of this waiver, relinquishment, and subordination.
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Dated: ~U~,,&~
R'/W No.
'Exc.No.
Project:
Rancho Bernardo Savings Bank,
a California Corporation
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BENEFICIARY:
By'~_).,~q- vI>
BY], :~, ~ ,Jcc.
NOTE:, e,LL SIGNATURES MUST BE
ACKNOWLEDGED NOTARIES: Use
proper form attached qrstaple
app'ropriate f.orm therto.
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ST ATE OF CALIFORNIA
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COUNTY OF
LLC'
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On
State, perso llyappeared
~~7:e~~,:~:J!dt~ "i(,,;'~ oaK uf 'aHrr~n ,;idcuc_i [0 be tbe
personally known to me {nr prr"'~d 19 AU! en the ),a~:J ef .'lll.ti~-
-ter;1 e' iileRS1J), to be Secretary
oL;.he corporation that executed the within Instrument, known to
me'(or proved to me on the basis of satisfactory evidence) tobe the
persons who executed the within Instrument on behalf of the cor-
poration therein named. and acknowledged to me that such cor-
poration executed the within instrument pursuant to its by~laws or
a resolution of its board of directors.
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WlTNES~ and ~.
Signature p ){
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