Subordination Agreement 1988-004548
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RECORDING REQUESTED 'BY:
TilE CiTY OF POliAY , '
1988 JAr! -6 AIfll: 18
I OoyEi'cA,I:.;LYl,E.n I
~lJ~i1::i"HEG.oHiJE.sJ
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WHEN RECORDED HAIL TO:
,TilE CITY OF POHAY
P,O. BOX,. z89
'POIiAY, CALlFOlUIIA
92064
NO'FEE
THIS, SPACE, FOR RECORDERS USE
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SUBORDINATION AGREEMENT' , , '
fij)Z. G~i\rJT()f'W"'T~ ~SEW~i5kst=O/l.t5IJT '
FOR'vALlJE RECEIVED,. .the:undersigned, as Benehciary under a'Deeci or' Trust clated
Auqust 28, ,1987 , recorded in the Offi~e of the County Recorder of San Diego
County September 22, 1987, File No. 87-534615 ,and as owner .and.hoJ,der of the
obligat:i.onstliereby sec~t'eddoes,herebymake,subject ,and subordinate the liens there,of
tth E - -. . . t d' b * * * * ,*' <* * .*, ** *. ,*' ,* .* * * * * * * * * * * * * * **.*
0; easement gran e y '- - . - ." ~ ' . .
* * * * * * * * I * * * * ~ * **ROBERT J,. COSTELLO*~* * * * * * * * * * * * * * * * * *
* * * * * * ;*--* * * * *~*. * * * * ** * * '*,;* ~ * *,* * * * * * ,*, * * * * * * * * * * *
* -*. * * * * *.* * * * *, * * ** *.* * * * * * * *' * * * * * *. *' * * * * *'.* * * * * * ,*
to TilE CITY OF POI,AY, it being': understood anda"greed, ,that foreclosure of said Deed of
TJ:'ust shall, not affecF, defeat or render j,nvali,d any rights under and by virtue of
said easement, and said easement shall b'e paramount aItd s}iperior to the rights of
any purchaser: under a fin'edosure of said Deed ,of Trust.
, Fi~~ 'No. 'r1-11J -<fl;jro
Trust.
, and affects
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Said easement was recorded l:t,....:<.j- 31
the real property described in said Deed, of
The undersignedTIeneficiary of, said Deed of Trust declares aDd acknowledges that it
hereby intentionally uaives,relinquishes, and subordinates the priorities and
superiorities of the lien and" charge, of said Deed of Trust upon the land described
therein in filvor of said easement, and that it unclecstands that in reliance upon and
in; cons'ideration of this "aiver', relinquish.":\ent, ,an'd 'subordin'ation specific monetary
and other obligations will be 'entered into by Third Parties' which "ould not be made
or' e<it~ref!Jin,,~o lJ,ut for, said ,r<;.lbnce and the execution by Beneficiary of thi:s "aiver,
'('4" r,elin'quish:::ent, an'i:1.s1.1b:C,rdbation.
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Dated:' December 8. 1'987
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'R/l'] :{o.,
Exc,.. ~:o.
JProjec t:
B";:E=ICL\,,ln: BANK OF COMMERCE,
a Cal ifo
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President
I':OT2: .\~L SIC::ATURES ;'1USTBE ,\CK.;;O:-ILEDGED
:IOT.\RIES: U"eproper fom att;oched
or staple appropriate
form thereto.,
Senior Vice Pre5~dent
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CORPORATE ACt<NOWLEDGMENT
State of CaJrn)'(rU..cu
County of ~ DI~0
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OFFICIAL SEAL
D TIDWELL
N01ARY PUBLIC - CALIFORNIA
SAN DIEGO COUNlY
'My comm. expires FEB 23, 1990
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NO. 202
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Onthisthe~dayot bU,~bu ---' 19 ~betoreme,
b,.Tidwdl
the undersigned Notary Public, personaily appeared
#. &-ldtJi n Ovv'l rI q{M"i 'I iFU-rYYJ.ffiS
)ll.personallY known to me
o proved to me on the basis of satisfactory evidence
,t'? be the person(s) who executed t~~Within instrument as
VIet. A-tsJdt",t t ~n/l1f VIU,oflvtb,Jor on behalf of the corporation therein
named, and acknowiedged to me that the corporation executed it,
WITNESSmm;rr~v
Notary's Signature
NATIONAL NOTARY ASSOCIATION. 23012 v"tO'a B1yd . PO 80,4625 . ~dHoII'5'''91''~'~