Subordination Agreement 1988-345883. ..~:,.. ~:..- ~~
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REcbRiHNGREQUESTED BY:
THE CITY OFPOWAY.,
wHEN RECORDED MAIL TO:
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LEVfr.;,e.,;L. LYLE: i
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'THE; CITY, 'OF POWAY
, '
F..O. BOX,.,'.
POI,AY, CALIFORNIA
92"064
THIS SpACE
FOR RECORDERS
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NO FEe'
USE ,
SUBORDINATION AGREEMENT'
FOR VALUE RECEIVED, the und'ersign'e:d" as 'Beneficiary under a De'ed of Trust, dated
March 3, 1988 , reco'ti:led in the Office ,of, 'the County Recorder of San 'Diego
County March 17 . 1.988' , 'Pile No. 88-122291 , ",nd :!i.s 'owner and holder of the
obligations thereby secur,eddo.e~ hereby make sub1ectan'd, subordina~e ,H\~ liens the:reof
to the Easement granted by TECHBILT CONSTRUCTION CORPORAlION, a Call forn'l a corporatlon ,
to THE CITY OF POWAY, it being uriders.too,d and agreed .chat foreclosure of said Dee~ of
Trust shan not affect, defeat or render, iriyalid, allY ,r,igl1ts under and by virtue of
said ease'ment, and said 'easement shall be paraino,urit ,and 'superior to the rights of
any purchaser under a foreclosure of said Deed of Trus't.
Said easement was recorded r" ''be $'
:the real property described in said Deed
'B'iY3c\.~"O'b\
, File NO,
of, Trust.
, and affects'
The undersigned Beneficiary of ,said 'Deed of, 'T;:ust dedares 'and ackilOw1edg'es that it
hereby intentionally waives, relinquishes ,and subo}:dir1ates ,the priorities and
superiorities of the lien and ,charge of said Deed, of, Tr'tist' upon the land described
, therein in favor of' said easement"aIld, that it onderstands ,that in reliance upon arid
in. consideration of ,this waiver". relinquishment, and' subordination spec'ificmonetary.
an.d, other obligations w11'l be entered into by T.hirdPartieswhich ,would not, be made
f' OF ~nte~e~ into t"E '(or said 're!iance and the execution by Beneficiary of this 'waiver,
rel'itlqy.i?IiI11ent.'; '~nc!, \subord-ination. -
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Da'ted:
JulY 7, 1988
BENEFICIARY: BO:tHWELL .IN1ERNATION,AL, lTD.
A C<iHforni a L ifuited Partnershi'p
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RI,H No.
E;xS:No.
Pro~ ect:
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By"/' ~ -r~, '
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By:
NOTE: AI:.LS1C.l:<ATURES MUST. BE ACKNOwtEDGED
~ ' 'NOTAR:IES: Us,!,' proper 'form attached
or staple appropriate
form thereto,
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Parcels 16, 17, 18 21 and 22 of 'P.,U.E.
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PARTf>lERSHIPACKNOVVLEDGMENT
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State of California
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County of San Diego
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OFFICIAL SEAL ~
JEANETTE M. SCHWARTZ -:
NOTARY PUBliC, CALIfORNIA :;1
PRINCIPAL OFFICE IN ..
SAN DIEGO COUNTY ~
My Com~,jssion Expires September 28. 1990 ~
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; 0,1925
, NO::203
On this the 7th day of JulV
1 g38 ,before me,
Jeanette M. Schwartz
the undersigned Notary Public, personally appeared
Neville F. Bothwell, General Partner of
Bothwell International, Ltd., a California
Limited Partnership
KI personally known to me
o proved to me on the basis of satisfactory evidence
to be the person(s) who executed the within instrument on behalf of the
partnership, and acknowledged to me that the partnership executed it.
WITNESS my hand and official seal.
rJe.~?1/ /./j , ft' dd//'zt/S~
N/tary's Ignature - ,
NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd_. FlO. Box 4625. Woodland H!!!S"CA 91384