Subordination Agreement 1989-503439
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:RECORDING REQU!:ST-ED.BY:
THE GrT,Y qF fOWAY' .
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:, COUrti'r Ui-~f-I;H)n;:-o '
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THECiTf OF POWAY
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POI,AY" CAl.IJOR,NIA
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;THIS SPACE FOR RECORDERS USE'
SUBORD INATIONAGREEMENT
F,ORVALU,E RECE:IYED" the undersigned-, as, Beneficiary .uncler ;l, D,e,ed OF ,Tru~t dated,
rg December 1985; , ,recorded in the, Offic~,lof tlie, :County Recot'der,of San Diego
County, 27 December 1985 ,FHe No. 85-488-37-3, , and as. owner and holder 'of the
obligations th'ereby secured;d';e.~ 'he,reby ,make supJe,'ct ,and subord),nate the liens thereof
to ,the Easement. granted byGFPOWAyi. LTD.. a Ga1ifornta l'imited partnersbio
to ',THE ciTY 'OF ,POWAY'"H be:i:.ng under~tood and agreed that foreclosure of said Deed. of
Trust sh:illlriot affect, defeat orrend,er invalid anyr~ghts u"de:z:: and by virtue o,f
said easement'; and said easement,sh'ii,n be paramount and siJperior to the rights of
any purchaser under a 'fc;>reclosure 'of said D'eedof Trust.
Said easelllent' "as recorded Cj,-! -.Rq'
t;he real property described in said Deed of,
i 'File lie; fi1- 47 g -sL09
Trust.
,and affects'
The undersigned: Benefid:ary' 'of said Deed of Trust declares and acknowledges that it
hereby in'tentionally' waives, relinquishes, and subo'rdinates :the prioriti'es and
superiorities of the 'lien,ancl charge of sai,d Deed 0;; ;Tt:ust upon tl1e land desc;ibed
therein i:ri favor of ;said easement, 'and, that. it .understands that in reliance' ,upon and
in.,consideradon'of; 'chis "aiver, relinquishment, arid'subordinationspetific' 'monetary
and: other obligations wHi be eI}tered ititoby 'Thi:rd, 'Parti,es which would not be made
9,r, ~r:>,te.r_ed .i"t,o, ,~ut (or s,a.1d n;liance and the execution by Beneficiary of this waiver,
reli.llqu;Cshment, 'and'isub-ordination, . '
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Dited:
R'f,H:No. '
EXc. 'No.
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'BENEFICIARY:
CANADIAN COMMERCIAL .BANK
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.By:
NOTE,:' ALL ,SIGNATURES HUST BE ACKNOWLEDGED
'. NOTARIES': Use proper fOt1ll ;attached
or ,~ta,pl!;, 'appropriate
.form t!lereto.
5532-33
Onsite Lan'dsca:peMa,intenance Easement along
. Pomerado, Stowe '&,So,. Poway :Parkway
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1025
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SUBORDINATION AGREEMENT
C. F. Poway, LTD
January 26, 1989
CANADIAN COMMERCIAL BANK
By PW Liquidators, Inc., as agent and
attorney in fact for Canadian Commercial
Bank and for Price Waterhouse Limited,
as liquidator of the estate and effects
of Canadian Commercial Bank
By:
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R. G. Heasman ~
President
Its:
The undersigned hereby consent to and approve the terms of this document.
Price Waterhouse Limited, as liquidator
of the estate and effects of Canadian
Commercial Bank
By PW Liquidators, Inc., as agent and
attorney in fact
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By: ~"J("'~/__.,;.-#-V"--~
R. G. Heasman
Its: President
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Bank of Canada
By PW Liquidators, Inc., as agent and
attorney in fact
By:
Its:
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President
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PW Liquidators, Inc.
By:
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R. G. Heasman
Its: President
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1026
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S'fA'fEOF' CALIFORNIA)
) ss.
COUI~TYOF ORANGE, )
On this 26th day of January., in the year 1989, before me, Belinda Kay Fray the
undersigned Notary Public, in and for said State, ,personally appeared R. G. Heasman,
personally known to me ~:r 13rcLl.d- tu llie U!J Un:: La.ois af 3ati~F;:t('tnYy--evi1:t~e-) to be
the President ,of PW Liquidators, Inc .', a corporation, the corporation subscribed, to
the within instrument as the agent and attorney in fact of Canadian Commercial Bank
and acknowledged to me that he subscribes the name of PW Liquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
STA'fE OF CALIFORNIA)
) ss.
COUN'fY OF ORANGE )
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Notary's Signatur
OFF;f~lj\L ~.C/. L
\~II~,nA KAY FR,l\Y
:",. r'. ',..;' -, .,- ":.\JIA
OR,<lJ-hJE COUNTY
rill .comrJ:!. expjr~s rwv 12, 1991
On this 26th day of January, in the year 1989, before me, Be linda Kay Fray the
undersigned Notary Public" in and for said State" personally appeared R. G. Heasman,
personally knowll to me ~ed-t~me-mrt'lre-tffisi-s--m--sausf<rctory-evldence-)-to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the witnin instrument as tne agent and attorney in fact of Price Waterhouse Limited
and acknowledged to me that he subscribes the name ,of PW Liquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
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Notary's Signature
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\'~.<?Y/ 1.11,~',_ l.. I
~ ft.j comm. e:'(pires NOV 12, 1991
S'fA'fE OF CALIFORNIA)
) ss.
COUN'fY OF ORANGE )
On this 26th day of January, in the year 1989, before me. Belinda Kay F,ray, the
undersigned Notary Public, in and for said State, personally appeared R. G'. Heasman,
personal,ly known to me ,(61' pr9"ea to'-me' untl)e U,,,,,,i,,, uf--sa.t,-is-f-ae-t.g4"-y~e-) to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the wi thin .instrument as the, agel1t and attorney ,in fact of Bank of Canada and
acknowledged to me that he subscribes the name ,of PW Liquidators, Inc. thereto as
prinCipal and PW Liquidators, Inc. as agent and attorney in fact.
A.p-.l~~ r2- hPJj~/
Notary's Signat re
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\'~~'/ OP,M.:GE COUNTY \
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1027
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 26th day of January, In the year 1989, before me, Belinda Kay Fray the
undersigned Notary Public, in arid for said State, liersonally appeared R. G. Heasman,
personally known to me.,(.nr p'ro"~h-e-bas-i-&-<l,f-,s-a-ti-sTIlc-f&r'-y-evtdence) to be
'the President of PW Liquidators. Inc., a corporation, the corporation, subscribed to
the within instrument as th,e agent and attorney in fact of PW Liquidators, Jnc. and
ackno)Nledged to me that he subscribes the name of PW Liquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
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Notary's Signat e
, ORANGE'CDUNTY
M:r ccmm. expires rwv 12, 1991