Subordination Agreement 1988-623063
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RECORDING REQUESTED BY:
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THE CITY OF POliAY ,
\mEN RECORDED V.AIL To':
8ROft -5 AMil'l:53
THE CITY OF PO',IAY
! ' V.ERA LLYLE~
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P.O. BO:{,)'89
IpO~,'AY, CALI?C?~nA
NO FEE
92064
THIS SPACE FO~ ?~CORDERS USE
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SUBORDINATION AGREE'.ENT'
'F.O~ ;'ltP.LUE. ',?..E.C-EI\.'r:D, tl1.e 1;J.nc:ersigned, a's Eeneficiary'u!}'.c.er a Deed or 7n..:st" cated
,August 15,,1988 , ~ recorced in the OH03e of 'the Cou"ty Recorcer of 'Sa" Diego
,r;'unty September 13, l,~..88 , , File.No. 88- 52 ',.::nd--as--{>;'''i1er---.:nd-hDl.<ler-Of-rhc
6])ligat:.o;os' thereby secureddoes,hereby :::ake subject acd suborci4i:oate thae 1ie"-s ,thEreof
: h' - d b Co' nra' d Prebys Trustee under Trust Ag eement ated Uecemuer
to t ,e .:.aSE::J2:lt. gra=.te 'j . . '.. ) _ . _".'"
17, 1982
to TEE CITi OF ?Oi~~:~,.Y', it :-'e~r;g'understood and ag:-eed' t~a.~ foreclo.st:ie of Said Deed 0;
Tr'~st 'shall :;ot a{:ect) d.efe.?t. O'C ':r:e.ncer i.::.....2.lid 2..i:Y r::fnts ur::.er and bY'vir-.tue of
sa-i'd ease::.e.:1t, a....-;.d said e2.se..~=;:)t s'r.~l.t be ?ar21:'o.:....lnt. L":1d -su?eric:: t:> t.~e. rights or
_~_-any-p~r.cr..=.se.r-u:1::er-a- forec-l-osu.r,e-of~s'a..i'd i)e--e:-d-o'f-T::-us-'t-:-- --
Said ease:-,ent ".'as =eoo=dec, /0 -.;;l7~'iff ,?ile' ::0. 81'-d95ZJ1
the real pt:o?erty ce'scyi'::ed ':.ri" si::id Deed or 7r~st.
, a.:J.d affects
,The unders:"3:-:e'd 3e:-:.eficiary of sai:d Deed of T=:;st. cec-lares a::ci acL-w.....lecges tr:E.t it
her.eby' in:'.e:!'!t::.c:.ally ....aive.s,...reli9.quishes" a::d, subc::-d,i:r:.a'tes the ?riD:.-itie's and
r.}uperiorities or th~ lien ~~~-charge of said Deed of TFust :;?O~ the land described
;~t::h_e;;:-ein in :avo1" of said easerr:ent" ,and ,tha,!; it u~derst'ancs t;-:.;t i:l reliance U?'O:1 and
(\' i'n. consicerat.:.o:1. of this ....aiv-er, relinqt;ish=::=nt, 2:1d s-".J::,ordi:-:a.t:,o:1 specific ::ioneta::y
and o'ther ,oblit,oticns '.Jill 'be e;1~ered i=:to by TI:i~d ?ar::::e.s ",::-:::.c~ """Quld :ict be ~d~
or entered :.::.to :''...It ~or said :-el;ia>"1ce arid the e::-;ec'...:t:.o:"1_;::'y. Er;r.eficia.ry of this ......ai'\",t?-r,
,rel-i~-c.~.,;:' ?G?:<en~t.,." ~:1d stibord-i71a t :'-0>"1.
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,,:::;:?,IC'L\:.C.,,: CALIFORNIA FIRST BANK
a California Banking Corporation
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ONNA WARDLOW,' A. V. .
tiOE: ALl. SIG::X:U,,::S ::US,' SE ;'CK;:O'o1.EDGW
:;OV.;1IES: Usepropei: f6= :ltt:lched
Dr st:lple appropriate
for;;) thereto.
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CAT. NO.,NN00737
TO 1945 CA (8-84)
(Corpl?ratlOn)
~, 2273
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~TIC:OR TITlE'IN5URANCE
STATE OF CALIFORNIA
COUNTY OF San Diego
On October 12, 1988 before me, the undersigned, a Notary Public in and for
said State, personally appeared Max H. Wiles
persO.J1ally known to me or proved to me on the basis
of satisfactory evidence to be the person who executed
,""the within instrument as the ASSlstant Vice
President, and Donna Wardl.ow
personally known to me or
proved to me on the basis of satisfactory evidence to be
the Rerson who executed_ tps: ,'ViJ:hin instrument as the
A. V . P . Setlek:iry of the Corporation
that execufed the within instrument and acknowledged
to me that such corporation executed the within instru-
men.t pursuant to its by-laws or a resolution of its
board, of directors.
WITN"ESS my hand and official seal. ~
Signature~ndtA _ ,;;J;;U T
C@_e:",>
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OfFICiAl SUl
SANDRA FATE
NOaRY PUBLIC, tl\UfQRNlA
~INCIP-.L OFFtCE 1M
SAN DIEGO COUNTY
M, Cllmm.siotl hp, Oct lO, 1988
(This area for official notarial sean