Subordination Agreement 1988-587266
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.k:;CO?.DI:;G ~QL'~S:;:::;D BY:
THE; CITY O? ?O~AY
WRE~ RECORDED ~_ll.l!.. TO:
Tn::: CITY OF ?O~AY
P.O. BOX
'NO FEE
?Oli.;.Y. c..UIPOR"IA
SU30P~IKATIOK hGPX~~KT
THISS?AC::: ?G? RECORD~RS us:::
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92064
FOR '\T.l..LU':: ?EC~I\"~!), ~::e' ,-,:1c5"ers.:.g:1'ed, a's Ee~eiiC:'::2ry u::lc'e= a Deed 0: T:-~st c.ated
31 July 1986 ~eco-~pd .i~ -"e O;;~ce o~ ."e CO"....' r-ec--~'- -~ S-- D~e-o
, ... _ ....1.-_ ............. l.,.;.j ..._.... .. 1..... ..1..). '-'-""-........... .:.... - 6
County 16 Seotember 1986 '. Pile Ko: R5-~07fl~~ , ' ,and as ~':T.er and n~lcer of t::e
obli.gat:..or.s ~~e:-e~y secu=ec ooes he=eo.i ~aKe s'.J~Ject: -and subo::-c:..:-.a:e t':1e l.'::e:;s the::-ecf
to :he :::ase~ect graDt~d ~y CF POWAY LID.. a Californi~ limited oar~ner~hto
to T::E CITY 0: i6'~',,:,,-y, ~.t being' u:lce:-stood and agree"o '-cnct fo:-eclcst.::eof s.:;'d 'Deed of
......,..,.s. s.....-"Ii ...,..... ~::.- .: ~'..: .,....- c'..,.. .:...,...1....... a-~ _.:_....~ ..,...' - - ~".... .";';"'t' ~
J.__ l... ;..:.__ ....,1". .:...:....:..ec.., ce.:..e.:.:.. 0_ _e:1 ,€_ ":"'-\'::'__'-' uJ --5,/.5 u..ce_ c.:J1,,;. ..."j ',:....L. ue o~
?a'id eas€:i::'2.:l:', e,....jd said,. eE'se:te:::t shall be pa::-ai:lou.n~ _a:-:d su?:er:.cr ';0 .the :-igr::s cf
any pu:-cr:2se= :::;cer a fo:-e.'clcsi.:.::-e 'of. said Deed of T:"t:.st.
Said ease::>e:;: '.'as recDrced J;-/ycf'f , :i'ileNo,Jfj-57f!J;(@), aDd
the :-eal PTO?2.:ty Qesc:i~ed in said Dee~ cf Trt:.st.
affects
J.:1e 1..lnce:-sig:;ec 3e:;efic:.ary cf .said 'Deed of T::-ust cecla::-es and 5c}:::;c.....l~cges t~at ,i't
,~ereby in:'e.:"l'~::cr.ally ',:a:.ves.) r,e:lin~t.:is~-.:es) and subo':-ci~""'ates the ?Ticrit:.es and
supe:-iorit:.es c~ the l:.e~. a:;d c~arge of said 'Deed ,of T:"us: uRc~ the land described
tr.e:.-e:.n in :av,or' of sa':.d e.asecie'nt, and t.hat it nnce:.-st.anc-s tha,'C in :-.eliance u?on a:ld
in. co:-.s=-dE::-at:.o~ of t;;:.s ;;;a:.\.'er, rel:..nq~ish=;ent, a:'ld s\1borc:..:;ation s?ecific monetary
and o't'~er obl:.ga,tior..s ,.....111 be ent.-e:-ed int.o .b.y Thi:-d 'Par~ti'es ....hi~h '.iould' not. be c.ac:e
cr ente:-e-d ir::o but. for said r,eliance a:1d the e.xec;;t::on ~y :Senefic:.ary of t.his "\.'ai\.'e~,
.rel~'0ql..:ishner.';:, and.subord'i:".ati'on;. .
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Da.t ed : -1.Q.{ 14 ('i5'2f
R/H No.
'Exc., No'.
?roj e'c to:
'BENEHClA,RY: SECUR J,TY PAC.H] C .NATl ONAL
~!IN K'
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BY~ A"'~_/rP
1 L-i-tA-oG-S> .\"). N&'. \-;' 0....., V p.
By: /~e N.~ -..
~>.J { U ]j"dal<, U, P,
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NOTE: ALL SlG,ATURES MUST BE ACK.'W'"'LEDGED
NOTARl~S: Use proper [D~ attached
or st,~pl~ a~propr1ate
for::! thereto.
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ST ATE OF CALIFORNIA
COUNTY OF LOS ANGELES
} ss
o 1751
On OCTOBER 19, 1988
~ RICHARD D. NEILSON
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sNs/a/:;thMeJiJJ4r1c6 to be a Vice President, and l' A 111. 1-1 Rem FK
knowntomeoNrMelJUr/n6Min6U,J..JdtMtlsfal;t/:;.J;!ef,iMrlc6tobea n ASSTSTANT VTr.F PRFSTDFNT
of ttle SECURITY PACIFIC NATIONAL BANK,the association that executed the within Instrument, known to me to be the personS who executed the within
I~strument on behalf of the association therein named, and acknowledged tome that such association executed the same. and acknowledged to me that
such association executed ttle within Instrument pursuant to its by-laws or a resolution of its board of directors.
, before me, the undersigned, a Notary Public in and for said State, personally'appeared
personally known to me r:/: p,p/lf!<'/tp!r#)MrfiJ!0!4i1 ~f!
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(Seal)
WITNESS my hand and official seal
.. , OFFICIAL SEAL
, ,'-" '" HELENE GINTERS
.. ' . ,NOTARY PUBLIC-CALIFORNIA
, '"," LOS ANGELES COUNTY
. .'. My Commission ExPires Aug. 4, 1992
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030874 8.83' 25 PS Bank Officer's Notarial Acknowledgement