Subordination Agreement 1988-345885
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RECORDING REQUES-riD. BY:
THE'CITY OF PO"'AY ,
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'~ENRECORDEDP~IL TO:
THE cra OFPO',,'AY
P.O. BOX
PO\,AY, CALIFORNIA
NOr::EE
92054
THIS SPACE FOR RECORDERS USE
SUBORDINATION'AGREEMENT
,FOR VALUE RECEI\'E!l, t:he und'ersilgl1ed, as Beneficiary uncer.a Deed of Trust: dat:ed
31 Jul y 1986 . record,edi.n t:he Office of the,Callnt:y Recorcer of San Diego
Caur: t:yl 6 'S'eot'ember 1 986 ,File No. R6-407B4R ,'and as o-..rner 'and holder of t:he
obligations' t:her!;by secu};ed does, herebyu:ake, sub;j ect:.and .s~bordina t:e the liens t:hereof
t:ot:he Easemer,t granted by EF POWAYLTD., a Cal1fornla llmlted oartnershlo
to TEE CUY OF PO'".~.Y, it: being'undersl:ood and agr,eed tl-lat ,foreclcs\:.re of said Deed of
Tr1;st sr:all not affe'ct, de'feat: 6riend,er invalid' a-ny' ,r-ights under and by virtue o'f
s"aig ea~ement, and said' easeroer:. t shall be paramount and s"\jper:.or to the ::ights of
any PU::,C!;2se.r under a foreclosure of said Deed~ <of Trust'.
Said easement '.:a5 recorded
t:he real property described in said Deed of
l-l'O-0'b '
, File No. 'C56 3<4-5"0'0--1
Trust:.
, and aff.ects .
The unce::r-s:.gne'd Ben'e_.ficiary of:: said' '-Dee.d of Tr:ust ceclare$ and aCY..Dc'...lecges that i,t
hereby in tentionally "~.;aives, r,eli:nquishes, and s_u"bot,d",T"a t'es the prior:i..ties and
s\:.pe"iorities of the lien and ,charge of said Deed of T,,\:.st ,upon 't:he land described
ther.ein. 'in f~v'r of sa_.:.d e?serD~~t" a:nd that: it onderstandsthat: in r.eliance upon and
ip.~_ c'ons ice::a ti:on ,of this -..<a,~\.;e):\ r-e_~~nquiCs~e_n.~,. G11.d (su~_ordina tion specific mone tary
an-d othe-r obligaticns will b,e' entered 'into by Third;?art'ies which wou1dnot be !Lade
or- 'ericered in'ro but .for sai'd :reliance and the execution by Be_neficiary of' t.his .....aiver',
relinquishmen't, and $ubo::dinati'O'n.
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'Dated:
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Exc. No'.
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Project;:"
BENEFICIARY,: SECURITY pACIFIC NATIONAL
!:SANK
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lioTE: .Al.LSIGSATURES:MUST'BE ACK..'W;''l.EDGED
'. NO.1-ARIES: 'U,;e p'ro~er, !onu attached
.or staple ,appropri,"'te
fort:! thereto.
Landscape Ma.i nten ance Easement@Community & .Metate
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CORPORATE ACKNOWLEDGMENT
State of
r.AIIFORNIA
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County of
LOS ANGELES
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o. OFFICIAL SEAL
~< ...... - . lYNESE S. WILLIAMS
'.,7 '., NOTARY PUBLlC,CALlFORNIA
, .., , LOS ANGELES COUNTY
'.... :~ Mv Commi$Sion Expi,e. May 29, 1990
7120122
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1941
NO. 202
On this the...Ji..th day of Jill Y
19BB...., before me,
LYNESE S. WILLIAMS
the undersigned Notary Public, personally appeared
RICHARD NEILSON AND THEODORE M. SNYDER
~ personally known to me
o proved to me on the basis of satisfactory evidence
to be the person(s) who executed the within instrument as
VI CE PRESI DENTS oron behalf of the corporation therein
named, and acknowledged to me that the corporation executed it.
WITN S my hand d offici . s al.
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NATIONAL NOTARY A.SSOCIATION . 23012 Ventura Blvd_ . PO Box 4625 .' Woodland Hills, CA 91365-4625