Subordination Agreement 1989-444781
RECORDING REQUESTED BY: ~
CITY OF POWA Y
AND ,WHEN RECORDED MAl L TO:
CITY CLERK
CITY OF POWA Y
P.O. BOX 789
POWAY, CA 92064
196
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RECEiVED
.)UL 14 1989
PlJ3L1C SEflVICES DEPT.
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
Ju)y 8, 1988, recorded in the Office of the County Recorder of San 'Diego County
JyJ~ 2), }9Z9, File No. 88-354691, O.R., and as owner and holcj.er of the obliga-
t,i'o-ns .th,E!reby secured does hereby makE) subject 1jIId. subordi n~e' the liei!j. ,
thereof to the Easement granted by KeY-. iVl, leek dnd "loAM " leels ,
h</-a:s 1t'c/s ~/I~' ~f Ll,b ba/-d 4<<// 6. /171
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SUBORDINATION AGREEMENT
to THE CITY OF POWAY, it being understood and agreed that foreclosure of said
Deed of Trust shall not affect, defeat or render invalid any rights under and
by virtue of said easement, and said easement shall be paramount and superior
to the rights of any purchaser under a foreclosure of said Deed of Trust.
Said easement was recorded 8-';?-8-9 ,File No.gCf-'ft;;;.g"'7
, and affects the real property described in said Deed
of Trust.
The undersigned Beneficiary of said Deed of Trust declares and acknowledges
that it hereby intentionally waives, rel inquishes, and subordinates the priori-
ties and superiorities of the lien and charge of said Deed of Trust upon the
, land described therein in favor of said easement, and that it understands that,
'__ __ ,_,in.r.e,l ii\nceupon"and in consideration of this waiver, rel inquishment, and
subordinati on specifi c monetary and ether obl i gati ons wi 11 be entered into by
Ihiri;d Rarttes wh,fch would not be made or entered into but for said reliance and
the 'executi:on by Beneficiary of this waiver, relinquishment, and subordina't;on.
Scripps Bank,
A California Banking Corporation
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By: '
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R/W No.
Exc. No.
Project:
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NOTE: ALL SIGNATURES MUST BE
ACKNOWLEDGED NOTARIES: Use
proper form attached or staple
appropriate form therto.
BENEFICIARY:
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'STATe OF CALIFORNIA
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COUNTY OF San Diego
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, OffiCIAL SEAL
~' -S:~~, HARRIET L. HAWKINS
'.. ',;1 NOTARY PUBLIC, CALIfORNIA
'i ~ 'Principal Olli" in San ~egOlr~~~1 r
-. My CommissiOfl Expires ay ,
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CORPORATION ACKNOWLEDGMENT
FortnNo.14 Rev, 7-82
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proved to me On the basis of satisfactory evidence to be the person...... who
executed the within instrument as ..,..""'~:i().r:,.\T:i~..,..,',.."'_, President,-Knif
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me that such Corporation executed the within instrument Pursuant to its BY'Jaws
or a Resolution of its Board of Directors.
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