Subordination Agreement 1990-0659120
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72,1
DOC. 1990..0659120
l1-DEC-1990 08:20 AM
SAH DIEGO COUHTY RECORDER'S OFFICE
VERA L. LYLE,.COUHTYRECORDER
, FEES: 0.00
F.E~IJRril}jG. !ti:QUESTED" BY:
,THE CITY OF' 'POWAY. .
,WHEN RECORDED MAIL TO:
THE CITY OF POWAY
P.O. BOX ,'. '
PO\,AY, CALIFORNIA
92064 .
Fe a1.p PF
THIS SPACE FOR' RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the und'ersi.gned, as 'Beneficiary under' a Deed of Trust dated
'February 14', 1990 . recorded in the Office of the Collnty Recorder of San Diego
County February 20, 1990 , File No, 90-092069 ," and as. owner and holder of the
obligations thereby secured doe'; hereby makesubject;and sllbord#)ate the liens thereof
to the Easement. granted by Clerco, Inc., a Calltornla, Corporatlon
to THE CITY OF POWAY, it being' understood and agreed :that foreclosure of said Deed of
Trust .shall not affect,' defeat or -render 'invalid any I'ights under and by virttie of
said easement, and said easement shall be paramount and superior to the rights of
any purchaser under a foreclosLire,of said Deed of Trust.
Said easement was recorded: 1;)..-.1 (,-'1 0
the real property described in said Deed of
,File .No. '1(') -I_~q I il
Trust.
, and affects..'
'The undersigned Beneficiary of said Deed of Trust declares and acknowledges that it
hereby intentionally waive-s:, .rc.~~nquishes ,and stIbordiI;1.ates the priorities and
superiorities of the lien and' C'ha>;ge of said Deed of Trust upon the land described
.tlierc:i~ in favor of ,said eascinent J "and' t,hat it understands that in reliance upon and
in. consideration: of t;his waiver" relinqu;islunent, and ,subordination specific monetary
and other obligations will. be entered into by'Thi,d, Parties which would riot be made
or. ,entered into but for s~id retiance and the ex'ecut~on by Beneficiary of this waiver,
relinquishment; and subbrclirjatipn. .
:.. Dated: OCTOBER 29, 19.90
R./I, No..
Ej(c. No;
Project:
BENEEICIARY: Escondido National Bank, a
National Banking Asscx::iation
By.
VP/MGR
.~
IBy/:,
NOTE: ALL SIGNAT!1RESHllST BE A.CKNOWLEDGED
". NOTARIES: :Use proper fopn 'attached
or staple app'ropriate
form. thereto.
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PBP II
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lCORPORATION)
STATE OF CALIFORNIA }
COUNTY OF SAN DIEGO SS,
On nr'T'nRP R ? Q I 1 q q n before me, the under-
signed. a Notary Public in and for said County and State. personally appelred
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722
,
personally known 10 me (or proved to me on the basis 01 satisfactory evidence) to
be the \7 I CR President. and
XdiilC<MiI<~iI<Il6X
;..... ~
9ii:i~ of the corporation that executed the within Instrument, known to me to
be the tJrsons wh9 executed the withm Instrument on behalf of the corporation
the rei named, nd acknowledged 10 me that such corporation executed the
\
e a~:" :lJiif~S 0' "~I"t'(, o'~p ""oclon
WIT
withi
BARBARA M.
AOM-34
Name (Typed or Printed)
lii'ItfiifI. ESCONDIDa
NATIONAL
BANK
613 W. VALLEY PKWY"
ESCONDlDO, CALIFORNIA 92025
(619)741-3312
FOR NOTARY SEAL OR STAMP
B OFFICJAL S{;Al
MBARA M
NOrARY PUB' 'e . DAGES
~RINC!PA~ o~;J6i~~RNIA
M ' ;')~ ,DIECO COUNIV
Y (;ommrs:;JOIl Exo '\
, . ~a()t. 2;, 1991