Subordination Agreement 1984-104115
" ."' ,-~ RECO~QING REQu'ESTED BV___
'11..c:.-- '-.~. .. ,"
~~ii.~[numrnSYCAtiF 11OilLil1l1Ll.il
1192
i
84-10411:5
~RECORDEDINil
OFFICIAL RECORDS
OF SAN DIEGO COUNTY, CA.
AND WHEN RECORDEDMAfL TO
I'
I
1984MAR,2 2AM8:00
Name
C:icty Clerk
City of~away
P.O. Box 785
PcWay,Ca 92064
'\:::+. '\'\ \ - n \
-.J
I VERA L LYLE, I
~OUNTY RECORD[~ ~
SPACE ABOVE THIS LINE FOR RECORDER'S LISE
5-
1'-
I
:Stroot
Address
C'ty&L
State ;
5UBOR[)INp,TION, AGB,E,~MENJ
NOTICE, THIS SUBORDINATION ,AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERlY
BECOMING S'UBJECT TO AND OF lOWER PRIORITY THAN THE LIEN -OF SOME OTHER OR lATER' SECURITY
iNSTRUMENT.
""< THIS AGREEMENT ,m~de~this 19th , day at ,}1arch
, Melvin, HolchinsKY ana Claire Folchinsky, ,as Joint tenants
84
,19_,by
owner of the land h'ereinafter described.and hereinafter referred to as "Qv.jner," and
CitY 'of Poway' ., - - - - . ,", . present owner and holder of the deed of trust
and note,first'hereinafter described:and hereinafter referred to as "Beneficiary";
WITNESSETH
THATWHERE/IS Melvin Wolchinsky and Claire Holchinslty
did:execute a deed oFtrust dated: September 14.J2.81 ,to Firs.t....8!ner:iccan Title,',
Insurance CQ!!!llliI!:\G_<Ll'iiti.i,6rii;La_0D:Q:?oration , as trustee, covering
lot 72 of GREEN VAllEY ESTATES UNIT NO.6, in the County of San Diego, State of
CaJj"fbrn:ic,a:. 'Clceordipg.--to Maptl1g~()f NQ. 3,~Qi3.,. filed in the office of the County
ReCorder of San Diego County, February 13, 1958,
,..
.
,
to secure a note in the sum of S 3,,000',00
City of pm;ray ,
or:trustwas recorded November' 4, 1:981
c6ur'rty; and
,dated~tember 14, 1981
~ileNo.81~306
. in'favor of
. which deed
, Official Records of said
.,
WHEREAS: Owner has executed, or is about to 'execute. a;deed~o{trust and'note in-the sum of s..lQ,f.lilll.J)O
dateaMarch. 15, 1984 , in favor of Glenda:leFederal -Sa~s and Loan Association,
a United StatesCoI'Poration , hereinafter referred to as 'lender/' payable with interest and
~on.the terms and conditions',described'therein, which deed of trust is,to be recorded concurrently herewith: and
.' WHEREAS. it Iso condition pr~ceQent'torobtaining said I~an' that sOid:,deec:LQf trljst 1.6stobove"rr:E?_n.tioned sholl unconq(tionally i.
be and remain.at all.timeso.lien or'lcharge-upon the land hereinbefore.;described,.prior-and superior to the lien Of 'charge eftha-
c;ieed .oftrust first above mentioned; and
WHEREAS, Le~der is, ~ilUrig to make said loan provided _the: de-eq Of tfu'st securing"the same is a lien or charge upoothe:
above descr'lbed property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that
Beneficiary will :s-pecificoIIY'.qnd ur)conqitionally subOrdinate the-'lie'f1 or charge ,of the deed of trust; first above mentioned to_,the
lien or charge of the deed of trust in favor of Lender; and
WHEREAS, it is to thS! rrJuJual benefit of the pqrties hereto, that L~nder make such loan to Qwner; and Beneficiary is willing
that the ,deed of trust securing the same sholl, when recorded, constitute a lien or charge upon said land which is unconditionally
prior' and superior to tr:e lien or charge of the deed of trust first above mentioned.
N"OW;" THEREFORE;,in consideration of theJ'mutualoeneflts 'accruing to the parties :hereto and other ,vOluable- con5ideration;-~-- ':
,the re2erprand~suffiCien~ O(~hrc::h cons-ideratiOn i_s' hereby' acknowledged a~d'.;in order loTnduce'L~nde; to, mc]kethe 'loon above
referred to, it is hereby declared: understood end agreed as follows:
(1) That said deed of trust"securing said note in favor 01 Len<?er, and any renewals or extenS'lons thereof, shall uncondi~ \.
tionally"be and remain at all times a Iien'or charge on the property therein described, Drior and superior to the lien or charge
of'the deed:'of trust first above'mentioned
,
.(2) That'Lender would 'n'bt'make its,lodn dbovedescribed wiihout this subordination agreement,
;(3) That'this agreement' sholl be the whole 'and only agreement. between the parties hereto with regard to,the subordi-
natici')' qUhe lien or. charge 'of the deed of trust first above mentioned to the lien or charge of the deed'.of trust in ,favor of
Lender above referred .'to, an shall.supersede and cancel any prior agreements as to such, or any, subordination including,!
bljt not limited to, ,:thosep'rovislons, if o.ny, contained in the 'qeed of. trust first above mentioned, which provide for the
subordination of the:'I'ien orchorge thereoho 0 deed or deeds of trust o~ to a'mortgage Of mortgages to be thereafter ex~uted.
T:.7DO '.
72111-01
'SUBORDINATlO,N, ,.REC,ORDED DEE, D OF TRUST TO DEED:OFTRUST.TO RECORD,
.. - . -
.' "
(CljA,SUBORDiNATION FORM"'A';)
,
.
.
1193
'-
Beneficiary declares. agrees ond acknowledges that
(0) He consents to and approves (I) all provisions of the flote and deed at trust In favor of Lender above referred to,
and (ii) all agreements. including but not limited to' any loon or escrow agreements' between O~ner.and Lender for the
disbursement of the proceeds of Lender's loon:
(b) Lender in making disbursements pursuant t6 any'such agreement is under no obligation or duty to. nor has Lender
represented that it will. see to the application of such proceeds by the person or persons to 'whom Lender disburses such
proceeds and any application or use of such proceeds for purposes other than those provided for in such agreement or
agreements shall not defeat the subordination herein made in whole or in part: .. -
(c) He intentiona!ly and unconditionally waives. relinquishes and subordinates the lien or"charge of the deed of trust
first above mentioned in favor of the lien ,or charge upon said land of the deed of trust in favor of ~ender above; referred
to and understands that in reliance upOn. and In consideration at; this waiver. relinquishment and subordlnation specific- loans
and advances are being and\yill be made and. as part qnd parcel ttlerebf. specific monetary and other;obl,igatioris qrebeiijg
and will be entered Into which would not be made or entered :into but for said'reliance upon this waiver; relinquishment and
subordination: and
Cd) An endorsement has been placed upon the note secured by the deed of trust first above mentioned that said deed
of trust has by this instrument been subordinated to the lien or charge of the deed of trust in favor of Lender above referred to.
NOTICE, THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS' THE PERSON OBLI,
GATED ON YOUR REAL PROPERTY SECURIT.Y TO OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPENDED
FOR OTHER PURPOSES THAN IMPROIltMENT OF THE LAND.
~~~~
Beneficiary
J
'-7,,1 /J, '
/.~. ....
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
_:-
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION'OF THIS SUBORDINATION AGREEMENT, THE PAIITIES
CONSULT WITH'THElli ATIORNEYS WITH RESPECT THERETO.
(CLTA SUBORDINATlON:FORM "AU)
.
.
,~-
(Individual)
STATE OF CALiFO~ EGO
COUNTYQF I
On MARCH 19, 1984
said State. persoi,ally appeared '
.....~
',-
r--
} SS.
CiLEl\D4LE FEDERAL. ,
SAVINGS AND LOAN ASSOCIATION --
before me, the undersigned.. Notary Public in .nd for
MEINIWv;QLCHINSKY ' " , '
personally known tQ me or proved to me on the,basis of satisfactory evidence to be the person
whose name 15
subscribed to this instrument and acknowledged that
he executed it,
I 0
~Signatur
e OFFICIAL SEAL
~, SUZEE ROGERS
: NOTAR'f pualIC-CAl.,Fu~Nln
PRINCIPAL uFFICE IN
SAN OI"EG-O COUNTY
My Commlsskm ExpIres, March. 4,1900
I
I,
::r.1
I
I
(This .,... for offlclol notlrloll.n ..~.- I
,~""l r'
"
it
I<
'\
,
"
"
. '
--- .;.. r >"
'CORPORATE ACKNOWLEDGME:,
.
.1 i
t" .
'.....
"
~...
.,
1194
,,-~
NQ.,202
::>
f-
."
,Ca 1 ifornj a
On this the 20t~ay of
~Ia r:ch
1984 ,before,me,
t
-,
'-........
'.'
State of
} 55.
County of
San Diego
.,
,
. OfflCli.l;'$EAL
. LEANNE S: FOLEY ~
, ' . NilTARY PU6UC . CAlifORNIA
. I'rincijlat Otl'.ca In Saa IliaIlO ColmtJ
Mr Clloimlsslon Erp, May 10. 1985
Ay,r _'- y ~'\....... ~_-_~:.*;4V_'-
"":i
,I,
~
(.
7120 122
I
---:>~
'.
J
".!~
Stale of C~l i forni a
t55.
County of San Di ego
,.'
",;:t
"~
'@ OfFICIALSlAl
-, LEANNE S. FOLEY
NOTARY PUBUC . CAUFOIlNIA
Principal Office in San Dieso Coullty
My Commission Erp. May 10; 1985
N#1hr_~^~'V.y.-J4V
I1ENERAl ACKNOWLEDGMENT FOAM 7110052
Leanne S. Foley
the undersigned Notary Public, personaily appeared
I "'.
JameslL. Bowersox
, , .
IZI 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
-----_..;-----------------' oron behalf of the corporation therein
named, and acknowledged to me that the corporation executed it.
WIT'iSS my hand and off~:seal)
\; /lA'" " Y, (I ti:7 .
IT r'ZJJL.a:.-1/!Atf ~ ~! ,,-,, ' , ':"-t~"
t.Ncitary's Signature - '~~~
I ' ' NA:ONAL NOTARY ASSOCIATION. 23012 v,","," al,d, . EO ao> 4625 . Woodl.,d Hill', ~A'913'" '\.,.1
j
.-,.,
;"\
On this the -2lLday of March
193.4...., before me,
Leanne S. Foley
the undersigned Notary Public, personally appeared
Claire ~Iolchinsky
o personally known to me
ex proved to me on the basis of satisfactory evidence
tobe the person(s) whose name(s) she
within, instrument, and acknowledged that she
WIT,,) SS my hand andofW'a~7f
.riaIG yf, -=lmJ!rL.,
Notary's Signature
subscribed to the
executed'it.
NATIONAL' NOTARY ASSOCIATION. 23012 Ven'tura Blvd.. Woodland Hills, C-A913-64
, , ,