Subordination Agreement 1988-221746
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,RECORDING REQUESTE~ BY:
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THE ,CITY OF POWAY ,
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WREN, RECORDED MAIL TO:
THE CITY OF POWAY
P"O. BOX.,'
POWAY, CALIFORNIA
92064
"NO FEE,
THIS SPACE FOR RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, tlie und'ersigned, as Beneficiary under a Deed of Trust dated
31Ju1 Y 1986 , ,recorded in the Office of tbe County Recorder of San Diego
County 16 September '1986 ,File No. 86-407848 , ,and as owner and holder of the
obligations thereby secured does ,hereby make subject','and subordinate the' liens thereof.
to the Easement granted by CF POWAY. (Tn il C;,,'; for,,; il , ;mitprl p"rtnpr<h;p
to THE CITY OF POWAY, it being ,und,erstood and agreed 'that foreclosur'e' of" said Deed of
Trust sha11 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 o"f- sa:id Deed of Trust.
Said easement was recorded 5-4 -'if!?
the real property described in said Deed of
, File No..9~- ,i;lt;R'-I17
Trust.
, and affects'
The unders:igned Beneficiary ofisaid, Deed of Trust, declares and acknowLedges that it
hereby intentionally waives, relinquishes, and subordinates tQe priorities'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 reliance upon arid
i~ consideration of this waiver, relinquishment, and subordinat~on specific monetary
and other obligation~ will be entered into by Third ,Parties which would not be made
or entered into but fO,r ,said reliance' and 'the execution by Beneficiary of this waiver,
rel~nquishment, and subordination.
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Dated:
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R/l~ No.
E.'<c. No.
p'roject:
BENEFICIARY: SECURITY PACIFIC NATIONAL 8A~K
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By:
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By:
NOTE: ALL SIGNATURES MUST BE,ACKNOWLEDGED
.. NOTARIES: Use pro.per fo-rm at'tached
or st~ple appropriate
fonnthereto.
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STATE OF CALIFORNIA
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1356
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COUNTY OF
Los Angeles
On
April 8. 1988
Richard D Npjlson
, before me. the undersigned, a Notary Public in and for said State, personally appeared
per~onally known to me or proved to me on the basis of
satisfactory evidence to be a Vice President, and Theodore M. Snyder
":",nown to me or proved to me on the basis of satisfactory evidence to be a Vice Pres i dent
of the SECURITY PACIFIC NATIONAL BANK,the association that executed the within Instrument, known to me to be the persons who executed the within
I~>strument on behalf of the association therein named. and acknowledged to me that such association executed the same, and acknowledged to me that
such association executed the within Instrument pursuant to its by~laws or a resolution of its board of directors.
WITNE
IJJY.
~ OFFICIAL SEAL
~'m~d?;''\ ARLENE 8, SANDERS
; "," ~ 'i~ NOTARY PUBLlC,CALIFORNIA
i-,", I LOS ANGELES COUNTY
~ My Commission b;pires Apr. 6, 1990
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(Notary Publ 5 Signature)
(Seal)
030674 8-83" 25 PS Bank Officer's Notarial Acknowledgement