Subordination Agreement 1988-345886
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[9ae JUL 18 AM II: 40
RECORDING REQU::STED BY:
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THE CITY OF PO\-1AY ,
WHEN,RECO'RDED MAIL ,TO:
,THE CITY OF POWAY
P.O, BOX,
POI,AY, CALIFORNIA
92064
NO FEf]
THIS, SPACE FOR RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the'und'ersigned, a,s Beneficiary under a De'ed of Trust dated
19 December l..985 , n,corded iu,the9ffice,of. the Coun,ty Recorder of San Diego
County 27' De"cembe'r '1985 "File No. 85-488373 ,arid as owner and holder of the
obligations thereby secur"d dO"es ,l1,ereby make subject and. subordinate the lienstherec,f
to the Easement giantedbyCF POWA'Y" L TO.. a Cal'i'fornfa limited oar,tnershio
'to TH:: CITY OF PO"i-iAY, 'it being ullderstood and agreed that foredo sure of said Deed Of
Trust shall not affect, defeat or r,erider invalid al1y rights under and by virtue of
said easement, """1d, said easement shall be paramcuntan'd .superior to the rights of
,any purchaser under a fO,reclosureof said Deed of Trust.
Said easement ;;as 'recor'diid I ~ '-'0 '-eB'
the real property describ,edin said Deed: of
'F'l",l'e N '0'2>- .3-f-G"'b6c/-
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Trust.
, and affects'
The undersigned 'Beneficiary .of said' Deed of Trust deS1:a_re~ and ackno'Wledges that it
hereby intentionally 'Waives, relinquishes, and subordinates ,the priorities and
s,:,perioriti"sof the .lien, and charge of said Deed of ,Tr'ust upOn the ,land des,cribed
therein in favor of saideasenient., and that it onderstani:ls that in relianc'e upon and
in. considera'-t'ion of thi~ 1.;ai\~~~~j, '-:relinq\lishrn~nt ,_aI}c'f \subordin~ti'onspecific monetary
and ,other obligations '-lill ,be entered into by TJ:lird Part~es '-Ih1ch would no't be made
or entered into' ;but for said re:l!iance ,and ,the execution 'by' Beneficiary of this 'Waiver,
relinquishment, and subordination';
Dated:
BENEF.ICIARy:CANADIAN COMMERCIAL BANK
RN No,
Exc'.No.
Project:
By:
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By:
NOTE: At!. SIG:;ATURES MUST BE' ACKNOWLEDGED
NOTARIEs: Use proper form attached
or staple appropriate
forlll' 'thereto.
Landscape Maintenance Easement at Community & Metate
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1943
SUBORDINATION AGREEMENT
C.F. Poway,LTD
July 12, 19.88
CANADIAN COMMERCIAL BANK
By PW Liquidators, Inc,., as agent and
attorney in fact for Canadian Conunercia1
Bank and ,for Price Waterhouse Limited,
as liquidator of the estate and effects
of Canadian Commercial Bank
By: K4 ~____
R. G. Heasman
Its: President
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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
By:
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R. G. Heasman
Its: President
Bank of Canada
By PW Liquidators, Inc., as agent and
attorney in fact
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By:
Its: President
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PW Liquidators, Inc.
By:
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R, G. Heasman .....
President
Its:
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1944
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STATE OF CAL'IFORNIA)
) ss.
COUNTY OF ORANGE )
On this 12th day of July, in the year 1988, before me, Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman,
p~rsonaliYlfnown to me .for I'roved-t-o-me-on-tl1"ElDas:rs-of-satis-factury evlllence,)- 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 n'ame of ,PW Liquidators, Inc. thereto as
principal and PW Liquidators', Inc. as agent and attorney in fact.
~,~:t y
Notary's Signature ~
OFF;CIAL SEAL
GElI~lDA KAY FRAY
rJOTARY PL~2>"': - (::\1 irO.-HJIA
ORANGE COUNTY
My comm. expires N'QV 12, 1991
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
~
On this 12th day of July, in the year 1988, befOre me, Belinda Kay Fray the
undersigned Notary Public, in and ,for said State, personally appeared R. G. Heasman,
personally known tome 'for-pF~ed-to-me-on-the-ba~&-of"grrsractory-eviaence)-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 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.
'1
~IAL SEAL
I ,.'{ ,...,"' --." l1EIINnA KAY FRAY
\ "''-7i;;.'':-':''.-L:-; r""'-"if'R.::r I~I.:,-' Ie - '. 'lj""ORNIA
~~'i~ .' -' ." O~A~-~E co'~'~r; ,
'~'-J"'';'''''''' My cornm. expires NOV 12, 1991
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 12th day of July, in the year 198'8, 'before me. Belinda Kay Fray the
undersigne'd Notary Public, in and for said Sta,te, personally appeared R. G. Heasman,
personally known to me ('or:...p'rnved '.tG-me-on--t,he-bas-i-s--of-s-a-Hsfacio.r:y--ev;ideJiC'e)to be
the Pres'identof PW Liquidators, Tilc., a corporation, the corporation subscribed to
the wi.tlitn ,instrument as the agent and attorney in fact of Bank of, Canada and
acknowledge,d 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 ',5 :Signatur , ~
OFFICIAL SEAL
GE!,IND'<\ KAY FRAY
f-JOT/l,rN ~":.f-:'~UC - C/\lIFOI~NIA
ORANGE COUNTY
My c-Jrn~nl;, ~-;(pires",NOV' 12, 1991
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" STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 12 th day of Ju ly" in the year 1988, before me, Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R., G. Heasman,
personally known to me (eT prQ"t"j tn m~ on thp h"";,, nLsatisf-ac-tory-evtdenc.eLto be
the President of PW Liquidators, ,Inc., a corporation, the corporation subscribed to
the within instrument as the agent and attorney in fact of PW Liquidators, Inc. 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.
N~a~S~ '1.M;/
OI'F1CIAL SEA L
GH!NDA KAY FRAY
r'JO'/.\R'( r....:',,'!.: '. ',U,:O;<NIA
ORANGE COUNTY
My ccmm. expires NOY 12, 1991