Subordination Agreement 1990-0681089
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RECORD! NG'.REQUESTED BY
THE CITY OF POWAY
WHEN REGORDED MAIL TO:
608
00C.=--1990-0681089'
, '26~DECc1990 08'07 AN
SAM DIEGO COUNTY RECORDER'SDFFICE
VERA L. LYLE, CDUHTYRECORDER
fEES' 0.00
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CITY OF POWAY
P.O. BOX 789
POWAY, CA 92064
THIS SPACE FOR RECORDER'S USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
'**AIJQust 29. 1990** ,recorded in the ,.office of the County Recorder of San Diego
County **AuQust 30. 1990**, File No. **90-4-75913** , and ,as owner and holder of the
obligations thereby secured does hereby make subject.and subordinate the liens thereof
to the :Easement granted by * * * * ,* *. * * * * * ,* * *, *-*.* * * * * * * * * * * * * * *
* * * * * * * * * * * * * * * * **PANOSPREY, INC.** * * * * * * * * * * * * * * * * * *
* * * * * * * *.* * * *.* * ~ * ~ ~ * * * * * * * * * * * *, * * * * * * * * * * * * * *
** * * * * * * * * * * * * * * * * ,* * * * * * * * * * ** * * * * * * * * *. * * * * *
to THE CITY OF POWAY, it being' understood and agreed that foreclosure of said Deed of
Trust shall not .affect, defeat or "rerider invalid any rights under and by virtue of
said easement, and said easement shall be paramount: and super"ior to the rights of
any purchaser under a foreclosure',of said Deed of ,Trust.
Said easElTl2nt;aslTOre fully described in the attached Exhibit "A"whicQby reference is rrade a part herecf, and affects
f(.\ Gaid eaB'-ment naB rU6I<ld., n , , , . File :18. - > "n~ 'r~g"t" -
''f1!) the real property described in said Deed of Trust.
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The undersigned' 'Beneficia'ry of: 'said Deed of Trust decl.ares .:md a"ckno""ledges that it
,~~reby. intentionally waives, Felinquishes, and subordinates the priorities and
)s~per.iorit:ies of the lien and:" charge of said Deed of Trust upon the land described
./i/h:erein iOn favor af said ease-ment, - and that it understand's that in reliance upon and
1,n. .,<;~on~.i.der:lt:ion of t.his 'waiver, relinquish::.ent, and subord'ination specific monetary
and. ather obligations will be,entered into by Third Parties which would not be made
or en[ere~ into but fot said' i:-cili'ance Gnd the execution '~y 3eneiiciary of this waiver,
rclinquish=ent, and suboidi~ation.
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Dated: December: 18, 1990
BENEFICIARY: BANK OF COMMERCE.
i
R/W No~
.Exc. No.
Project:
H.C. Shank, Vice President
NOTE:
ALL SIGNATURESIoIUST BE ACKNOWLEDGED NOTARIES.
Use proper fonn attached or staple appropriate fonn thereto.
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STft}'E OF CALIFORNIA. J l!. COMMONWEALTH LAND'
1.,- c5();vL..~ 55. "TLlINSU'ANC[CQMPANY ,60:9
I COUNTY OF ' ~7id('~'/ "
, On .:--l'52.(, f ftlJ';)R./(" 0 -befo,e me, J~ . I f.VC.I -. Notary Public
I ~ and for said State. personally appeared ~ K MI1~J '( .. .
f.~~n~:~ ::~ :r::':::::: :::: ::fj: ~:::~~:: :: ::" Vi~ (J:~:e~t
i~";':';'.~"1r .of. the corp_oration that executed the within Instrument (known to mel
8f~ '.:~'ft;'....:,,' 'iil~i\L I to be the persons who executed the within
'Ifl8trum~nt on behaU cif the corporation ther~in named, and
,acknowledged to me that, such corporation executed the within
imstrUJnent pursuant to its by-laws or a resolution of its board of
dtrec-wrs.
~ITNE55 my '1J\'I"\'Y',d ~i.l. ...al. A
Sj.gnature ~)
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SIJrj DIEGO COUNTY
~Comm bOri'tsftO. ZJ. 1994
"Form3216(CA 12-82)
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