Subordination Agreement 1988-587265
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1746
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RECO:8I:\G REQ\EST.tD 3,'-:
'WR::N RECO?:..DED }I.AIl.. TO:
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TE~ CITY 0: ?OriAY
P.O, 30X
PO\".~.Y, C.',.LEOR."IA
92064
SU30~I~ATION AGRZ~~~T
!,NO FEE
niTS SP!.CE FOR RECO:8ERS USE,' ,
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FOR V;_LUE ?.EC::'I"~::D, t.he :;:lter~.:.gD,ed, 2s3e:.1e:ic:.ary u:"j'ce= a Deed 0: T:-';5t. dated
1"9 December 1985 . :-ecor~'=d T'jl ~he Office or the County Recc-:der o~ Sa:J. Diego
'County 27 December 1985 , Pile No. 85-488-373 , and, as o'.-r:er and :,o:!:'der of the
obligations the:eby sec;.;:ed' d'oes ;he:reby wake sU:'Jecc ':E.!lg st:.~o~di:H=.te the 1.:.ens t-ne-:ec:
to tne Ease!:le:-,t gra:oted '0,/ CF JQ\,AY. L TO" a Ca1 Hornia 1 irnited oartne,'shiD
to T:-i:: ClTiOr' _?Qr.~.';'Y, i:. '6eing" unders"tood and agreed t'na,': !oreclost.:re o.f~ sa.fd -Deed c!
-l~"S. S';-.-11 no'" -~~ec- c'~=e-; or ,~e~de"" ~"",\,-'.;d --y .....;.C'.nts """c'e~ an~ "D"\J -.!.;.......ue o~
......... ..c.__.. L. c._'_ 1.., _... C. I... ...... 1. .. ~ c:.__ <:::'1.1. - -oj . ...... - !....,,.1 . .......l.. -
said easeme:1c, c....id said eE:'se~,e~t -shall be paramount. and supe:-ior to t.he ri'ghts or
any' purchaser under a foreclos~re of said Deed of Trt;st.
Said easeOlent ,,'as recorced //-/<~ig , HIe No., i~~5g7;;).(P1-
the real property described in said Deed of Trust.
, and affects
T'"e unr1i:;.....c::"C"...,"',.; 3e-e"<c':--v 0' sa<d Deed o~ 'T'....ust dec"-....es -nd' ac'.~o.~,.e~oes t"a- ,-
. jj I '-'----o'.~...: ....l._ _C-.l .l. _ .;.. _"- _G._':'< r~ ...- La .. l.- -I-
hereby intentior.ally \.:aiyes-, .relfnquishes, cr;d subor.dinates the priorities and
st.:?eriorities 0: tne li.e:l and. c.harge of said Deed of Trust_ ~pO:"l ~~')e :l:and described
therein in favor of said easement) a-qd that it onaersta.-hds ,that in reliance 'upon anc
i~ consideration of this ~aiver, ~elinquis~ent, and subordination specific noneta~y
and other ob1ig2tio~s ....;il1 be entered ioto by Third ,Parties "Whieh .....ould ~ot be ~'de
or entered into but for sa~d Te1ianee and the execution by 5eneficiary of tpis ~aiver,
relinquishment, and subo~dinationa
Dated:
BENEFICIARY: CANADIAN COMMERCIAL BANK
RN No.
E.xca No.
Project:
By:
~&~ ~~
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,By:
NOTE: ALL SIG~ATURES MUST BE AC~~OWLEDGED
NOT&~IES: Use proper form .attached
or staple appropriate
for::1 tr.ereto'.
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o 1747
SUBORDINATION AGREEMENT
C. F. Poway, LTD
APN #317-223-13
October 11, 1988
CANADIAN COMMERCIAL BANK
By .PW Liquidators, Inc., as agent and
attorney in fact for Canadian Commercial
Bank and for Price Waterhouse Limited,
as liquidator of the estate and effects
of Canadian Commercial Bank
By:
k4Lc-~
R. G. Heasman
President
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Its:
The undersigned hereby consent to and approve the terms of this document.
Price Waterhouse Limited, as liquidator
of the estate and effects of Canadian
Conunercial Bank
By PW Liquidators, Inc., as agent and
attorney in fact
By:
~~-
R, G. Heasman
President
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Its:
Bank of Canada
By PW Liquidators, Inc., as agent and
attorney in fact
By:
Its: President
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PW Liquidators, Inc.
By:
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R. G. Heasman
Its: President
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o 1748
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STATE OF CALIFORNIA}
) ,ss.
COUNTY OF ORANGE )
On this 11th day of Dc tober, in the year 1988, before me. Be I inda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman,
personally known to me (.o.l:-P-rOved-to-llle-on-t-he-basis_oLsat-isfactox-y_ev-idence')' to be
the President of PW Liquidators. Inc., a corporation, the corporation subscribed to
the within instrument as the agent and attorney in fact of Canadian Commercial Bank
and acknowledged to me that he subscribes the name, of PW Liquidators, Inc. thereto as
principal and PW Liquidators. Inc. as agent and attorney in fact.
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Notary's Sign~re~
OFFICIAL SEAL
BELINDA KAY FRAY
[.JaTARY PUBLIC - C,1.UFORNIA
ORANGE COUNTY
My camm. expires NOV 12, 1991
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this II th day of October, in the year 1988, before me, Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman,
personally known to me ~ved-t-e-me-on-t-he_basis_oLsa_ti&f~etory-e~idence~ to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the within instrument as the agent and attorney in fact of Price Waterhouse Limited
and acknowledged to me that he subscribes the name of PW Liquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
N~~l~u?e4
OFF;UC\L SEAL
BE! INDA KA Y FRAY
f.10V,[,/ P,_''::'L,';'': - -~I\L1FORNIA
OHAi'iGE COU~ITY
My comm. expires NOV 12, 1991
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 11th day, of October, in the year 1988,:' before me, ,Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman,
personally known ,to me -+or--pfflved-t-o-me-on-the-bas-is-of-s'at-:rs'fac't-or,y-e,v,idence') to be
the' President o'f PW'Liquidators; Inc., a corporation, the' corporation subscribed 'to
the wi.thin instrUlnent as the agent and attorney in fact of Bank of Canada and
acknowledged to me that he subscribes the name of PW Liquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
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Notary' s Sign~re /-7
OFFICIAL SEAL
BE' ""!''.'\ KAY FRAY (
r'!(J'I/o.P't ~ . _'ue - Cil,L,',)',;:I\JIA )
ORAfiGE COUiHY "
My comm. c;\pires llOV 12, 19~1 j
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 11th day of October, in the year 1988. before me. Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman.
personally known to me -("tl-l'-pro.lLe.d_to_me-on-the-bas-is-of_satisfac,tor:y--"..v.idence-) to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the within instrument as the agent and attorney in fact of PW Liquidators, Inc. and
acknowledged to me that he subscribes the name of PW Liquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
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Notary's Signa ure
OFI:';~~:I{\L SEAL
eo., 'UD", KAY FRAY
~<"..:,~"" 1;"-::.";'; ~ C,),L!FORNIA
CRr'\r';GE COUNTY
M:J comm. expires NOV 12, 1991
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