Subordination Agreement 1991-0119805
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r'l' 19-MAR~r991 "08 :21 AM
;- SAN DIEGO COUNTY RECORDER'S OEFICE
- ", ' ANNETTE EVANS, COUNTY RECORDER
RECORDING RE.RUF;~:rJib :B'{: FEES: 0.00
THE CITY' OFPOWAY ,
,~EN' RECORDED' MAIL TO:
THE CITY'9F,POWAY
P.O. BOX'.' ' ,
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POWAY, cALIFORNIA
\9206'4 THIS SPACE FOR RECORDERS USE
SUBORDINATION AGREEMEN:r f6
FOR VA1.UE RECEIVED, the. uildersigri'.':a; ?s,Beneficiaryunder a. Deed of Trust dated ,:J-P
December 3, ,1990 "recoideo.,irith"Offi"e, of the County "Recorder of San Diego
County [)ecembp'y- 1,'4 l'qqO "File No..,') O-li'li71RO ,,,nd,as 'o>mer and holder of the
obliga:tions thereby~ecured.do~~,hereby<make subje~t'alJ.d,subordinate the liens thereof
t!"the Easement gr,,,ited by K-~r~ham CO,urtcPartnershccp. ,a Californi il
L:Ul\J!tedPartnershJ!p
,to THE CITY OF POWAY, 'it being', :understood and agreed that foreclosure of said Deed of
Trust ,shaH not affect, defeat' ,brrencler inyali'd any rights ,urider and by virtue of
said" eas'eIIl,~~t,- 'aI1,'d: 'said easement shall h_e" :pai;am~::"~n~ and s~perior to the rights of
a'nY 'purchaser ,under a foreclosure of, said Deed of Trust.
Said easement, was recorded I~v'..k l'i ,.':I "1'1 ( ,'File No. \ '1 'n - '0 It '1 '2 0 '-1 ",and affects'
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the real property described in said Deed of Trust.
The undersigIled Beneficiary of said,:Deed of Trust declares and acknowledges that it
hereby intentionally 'waives, re'j~inquishes, and subordiriates the priorities and
,superioriH~s of the 'lienan'd charge of,saicl Deed of, Trust upori the: land described
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th,erein,in favor of said easement, and that it.onderstands ,that in, reliance upon arid
fn.~ c6ns.fq._~ration of ,this 'Wai.:ver::, .relinqufshment, and' su.JJ:cfrdin.atfon 'specific monetary
and otherobligatiorls' wili "be entered, .int,o by ThirdPa'rt.ies', which 'fould not be made
or enter_ed inJ:~ but 'fo'r' -sCi:i:4 rei:ia~~e' 'and' the, executi'on by B.enef:tcia'ry of this waiver,
relinquishmen'c.,' and subordina.t-iO'p:..,
Dated: BENEfiCIARY: Well,s Ea-rgo Bank,
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Rill No. a: N"Od'~,:~n
Exc', No,.
',' Proj ect ,;
BY:. ,.'. ~,.,.---
NOTE: ALLSIGNATU~ES'MtlST'BE AClGlOWLEDGED :;:,V~;~~;vM
Its' Assfstant Vice President
NOTARIES: Use prop,er form, attached
or staple ap'propriate
form thereto.
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'. FrA,rlioF CALIFORNIA iSS. ' ,) ~
lASso(.',~mONACKNOWLEDGEM NT)
2355 ,I,
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County of San Francisco
~(,ln Februar-~20, 1991 .bef.mtme..NotaryPublicinandforsaid
fitlfe. persina,iy appeared Alicia Anderson and Donald Sabatini
- per30nally known to me lor proved
tu me on the basis of satisfact..1ry evidence) to be the Vice President oand
Assistant Vice President
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tVells .Fargo aank. N.A.. I National Banking Association that executed the within ~ OFFICIAL SEAL
r.oist1\J'lTlei'lt and known to me to be the personf!} who executed the within instrument M,G, RIDDLESPERGER
fin beh'alf ttf the Association therein named. and Icknowledged to me that luch :""lJ)" . NOTARYf'UBLJC-CAlIfORNrA
,\uociation uecut.d the same. ~ 4-" .
' ; ......, SAN FRANCISCO COUNTY
WITNESS My H.nd .nd Otfid.1 5..1. Mycommissmn expires Noy. 28.1994
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'i."POI1I:J/871 NJ~ --... (Notary's Sull
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