Subordination Agreement 2009-0153458
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DOC # 2009-0153458
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RECORDING REQUESTED BY:
Fidelity National Title Company
Escrow:No. '90578-NL
'Title Ord~r N~.~0469i604
Whe~ 'Recorde.d Mail Document To:
City of poway'
13325 Civic Center Drive
p'oway, 'CA 92064
Redevelopment Dept. 2nd Floor
MAR 26, 2009
3:49 PM
DFFICI6,L RECORD'"
';"-1'1 DIEGD CnUI'IT,' RECORDER',; OFFICE
U,~VID L, EUTLER, COUNT' FIECORDER
FEE~, 1 t: 00
PAGES:
4
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9136-
"-,";, "- "'-----.........._~..,.~" " - - - -,,, ..-. ,.
SUBORDINA TION,AGREEMENT
NOTICE:
THISSUBORDINATION:I;IGREEMENT RESULTS,IN YOUR SECURITY INTEREST IN THE PROPERTY
BECOMING,SUBJECT T{clAND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER
SECURITY iNSTRUMENt, " , ' ,
tHIS 'AGREEMENT, made January 22,' 2009" by Donna D. Italiano, a married woman as her sole and separate
prop'erty', owner ofthe land,heieinaftei described and hereinafter referr,ed to as "Owner," aria City of'Poway
present owner and holder of.the deed of"trus!',and note first hereinafter described and hereinafter referred to as
"Beneficiary" ;
WITNESSETH
THAT WHEREAS, Donna D, Italiano; didexecute'a deed'oftrust, dated June 26,2008, to Comprehensive Housing
Services. Inc" a California Corporation,as.trustee, covering -
Lot 131 of Midland Estates Unit.No, 3, iinhe City of Poway, County of San Diego, State of California, according
to Map thereof No, 7199, filed in the Office of the County Recorder of San Diego County, February 8, 1972,
Assessors Parcel No, 314,510,36
to secure a note in the sum of $9;050,00, dated June 26, 2008, ,in favor of City of Poway, which' deed of trust was
recorded as instrument, no, 2008,0400750, on July 28, 2008, Official Records of said county; and
$210,300",
WHEREAS;,Owner has executed, or is about to execute, a deed of trust,and,note,in,the sum of $i.1i.N1/JIrJrJ dated
March ,19, 2009 ,infavorofCountrywideBank, FSB, her~i[1afterreferredtoas "Lender," payable
with interest; and upon the terms an'd conditions described therein, which deed of trust is to be' recorded
cori9urrent.ly'herewith;, and
"' '
FO,46A' (Rev, 12/07)
(s~bofa.wpd)(12~07)
CLTA-'SUBORDINATION "A"
(EXISTING DEED OF TRUST TO NEW DEED OF TRUST)
INITIALS:
-4cJi]&
Page No 1 of 3
APN: 314-510,36
9137
WHEREAS, ieis. ac6.nditioQ :pr,ecede"tto ot>taining said loan that'said deed' of trust last above mentioned shall
;unconditionally,be,andiremainlat'all times a'lien or charge upon..,thellal1d'hereinbefore described, prior and,superior
to the lien or charge-'of the. deed of trust first above mentioned; and
WHEREAS, h,;nder is willing to make said,loan provided the deed of trust'se.curing the same is a lien or charge upon
the'above'describedproperty prior and superior to the lien or chargeoHhe deed of trust first above mentioned 'and
providedthal'Bimeficiarywill specifically and unconditionally subordinate'thenen or charge of the deed of trust first
above mentioned to the lien or charge -of'the deed of trust in favor of Lender; and
Wf:lEREAS, it is to the mutual benefit,of'the' parties hereto that Lender,make'such loan to Owner; and Beneficiary
is"willing that the deed of tru'st se~'urin.g the same shall, when recon;Jed, cons~itutea lien or charge upon said-,land
\iyhjc;:'J is-':l!nGonditionally prior and superior to the lien or charge of the deed:,of trust. first above mentioned.
, ... -
NOW, 'fHEREF0Rt,-jn' consideration of th-e- rrllJwiil-benefits accruing to the parties hereto and other, valuable
consideration, the receipt, and sufficiency of'vyhich consideration is hereby ac.knowle9ged, and in order to induce
~ender to make ,the loan above referred to, it is hereby declared, understood and agreed as follow-s:
(1)
That said deed of trust secur-ing said note in favor of Lender, and any renewals or extensions
thereof; shail:,,-uhcori.'dftionally be and remain at all ~imes ',(3 I.ien or ,c.harge on ti!.e property therein
describe~, prior ~I)d'super.i.c.>r to the lien or charge of the'deed of trust above mentioned,
That Lender ,would not make its loan above described without:this subordination agreement,
(2)
(3)
That this;agreementshallbe thewhole and only agreemenLwith regard to the subordination of the
lien or charge of 'the deed" oftr~st first ~bove mentioned to the lien or charge of th,e,de,[:!d of, trust
in fayor of lender a,?ov.e ,refe~r~d'to and shall supersede,and'cancel, but only insofarr as would affect
the:priority between the,dee-as'of trust hereinbeforesp8:cifically'described, any prior'agreement as
to such subordihation_including; but not limited, those ,provisions, if any, contained in'the'deed of
trust -first abovementionec( 'which provide for the subordination of the lien or charge thereof to
another deed or deedsiOf trust or to another mortgage or mortgages,
Beneficiary declares, agrees and ackn.owledges that
'FD-46A"(Rev. 12/07)
(subora.wpd)(12-07)
(a)
It consents to and,approves (I) all provisions ofthe note and deed of trust in favor of Lender above
referred to; and (ii)' all agreements, including but not limited ,to anY' loan or escrow agreements,
between Owner,and lender'for the disbursement of the proceeds of lender's loan;
(b)
lender in making disbursements pursuant to any such_ agreement is under no obligation or duty to,
nor has lender'represented ,that it will, see to the applicaii6n~.of s~ch proceeqs bY the' person 9r
persons,to who'm kender disburses sL!chprocee,ds ~ri,d ?T"!y appli<;:ation"or use of such proceeds for
purposes other. than 'those provided for in such agreement or agreements shall not defeat the
.subbrdii'-ation herein ,ma'de.in whol:_,or in part;
It inteQtionaHy and unconditionally waives. rel_!r1quishes and subordjnates the lien or charge of the
deed'of,trust first'-above mentioned in favor'ofthe, lien or charge upon said la'nd'of the dee'q ~f trust
in"fav'oi" of LE~'nder above referred.to:and understands,that in"relia,nceupon, and in.considerati_on,of~
this waiver;Aelinquishrrlent', and,.subordimTtibri, srH~cific ioans;andadvan"ces,:'are'oein9 and will 'be
m(ide:/a'nd,_~s--par~'and p_~.ucel th[:!reof" sp.ecific mon.etary:and,otl1er:obligations are being, and will. be
entered' .into,,"whlch 'would not, be made or entered into 'but, fo-r~. said -reliance upon ;this waiver,
relinquishmen~: and supOrd-il")C!tion; and
,i\n end~o~~erlJ_e_nl'.~h~s'been!p'laced:,upon_the'note secu~ed,by:.the~deed' of trust first above,mentioned
that'saio, deed of\~rysf;'~ils gy'thi~".iQstrument'bee~ s.LJbordinated"to the lien or'charge of the deed
,C?~ tr"us.! i,Yfavor:of lender above referred to,
(c)
(d)
Cl:TA,SUBORDINATION "A"
(EXISTING DEEI)OF TRUST TO NEW DECO OF TRUST)
INITIALS, f'~..JJ;f:_
Page NO.2 of 3
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91c38
APN: 314,510,36
NOTICE: THis SDBORDINAJION AGREEMENT CONTAINS A PROVISION' WHICH ALLOWS THE PERSON
'OBLIGATED bNYOURREALpROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE
EXPENDED FOROTHERPURPOSESTHAilnMPROVEMENT OF THE LAND,
IT.lS RECOMMENDED THAT, PRIORTO niE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES
CONSULT WITH THEiRATTORNEVS WITH RESPECT THERETO.
City of Poway
By:
Its'
~9$
. ,
,', .: _' _P'r:e..' ..:~'~~,- --
Beneficiary
1J/1fA1p- to 'Wr~
Donna D, Italiano
Owner
(ALL, SIGNATURES MUST BE ACKNOWLEDGED)
On
(h'e'
before:~me,
itle"6f the officer), personally appeared
, Notary Public
U\S
WhOP, rqved'.io, m, eon ,t"he basis of satis',f,ai;tory eV;den~to be the persoQ(~), whose n,ame(', i~e-subscribed,tothe
withIn Instrul!lent ~.nd ',aC~lqWledged,to,me that. ~ execu~ed the same mf!!!;j(he'/lhelr aythonzed
capacity(~), and that by isfhgj:Ltbeif signature(SrD the instrument'the person~ or the entity upon behalf of
which the person(ij'acted, xecuted the instrument,
,
I certify under PENAL TV OF PERJURY under the laws of the State of California that the foregoing paragraph is true
and correct.' '.,
State of Califo.EOli!./" "" ~,I/' )
County of ..........LAh _'~,.i~~~=J-' )
On ~'U/.l.-Doq bef~ie me, (\ .
(he'e insert" ri'iiirieoarid'title'of the officer), personally'appeared
. Wb,_~j'~P, rov~9to m, ~,on t~e b~sis '9.fs_~t.iSf~P, tory~eVi,dence, t~" .th, e pe, rso~,,(~) whose n, a"me(, iSj!8~Ub,' scribed to the',
wittiin' i~str\}ment and~,ackn~Rg~d, tome :that 'he~ he/ hey' exe.c,yted the same iI!, ' I~heir au,th~rized
~~p~,~,i,~y(ie~), a~dth,~t l;>y Di~heir ,_signature(s) ,on t Instrument the person(s), or the entity u-pon behalf of
which the person(s)' acted, .executed',the instrument,
WITNESS ~~'}d"'ltn rfr~\i .
Signature W1Ql~~/\() (Seal)
r&-~~---
.8 -2" c,~.'l, 787,4,79 I
I NoIaIy PIdlIIc - Call1OmIo I
, Ian Dlevo COunty !
l_~ _~_~~~~~_l_'
~~Cbl) 5
, ,
"l\Iot?ry Public
I certify under PENAL TY'OF PERJURY Linqer'thelaws ofthe:Stateof Californiathat'theforegoing paragraph is true
and correct.
vVIT~ndofficia~ L^-r
Signature, '" "AA ("jt', (Seal)
r' ., ..' . ~;~E'N~~
",'@COMM'1I164,4,110rn
~ . _.', - Notary public-Califom~ :;
,0,' .. . R1VERSIOECOUNlY , (
W, ." '<, <0092010
, My comm, ~p, c ,
L ::'. ... .............
-
~D-46A(Re\J: 12/07)
\suBora.wpd)'(12-07)
CLTA,5UBORDINi\TION "A"
(EXISTING DEED OF TRUST TO NEW DEED OF TRUST)
Page No, '3 of 3
/ .
,
9139
GOVERNMENT CODE 27361.7
I CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE
DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS:
. NAME OF NOTARY: S/kjj___E1j C!)LL/fl/3
- COMMISSION-NUMBER71J::L~S/-19"
DATE COMMISSION EXPIRES:~)-II
COUNTY WHERE BOND IS FILED: 0/tJU
j) l-ezprJ
N!lA1--
MANUFACTURER / VENDOR NUMBER:
PLACE OF EXECUTION:JaJ1 Ri'!:1j DATE: 3-<:2 5\:17
SIGNATURE:
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