Subordination Agreement 1988-587259
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W;EN :;Z~CORD~) Y"':IL TO:
TnE CITY 'O? PO~AY
P.O. 3DX,
PD\;i,Y, C.'J.I?OR.'HA
920'64
IHO FEE
niIS: SPACE ?OR. :PcECO:8ERS USE,
SU30RDI~ATIO~ AGPXEY~~T
~11~ 1llt'L, ~I?
FOR V.t.~Lli:::: ?-.:.C::IV:::D, ,the u:ldei,s~igned, as Eer-,e:ic:.a.ry u.n.ger e' J)2€:d O! Tn.:s.t dc.,teG
19. December i 985 , recorce'd ;i:l' 'the Orfic_e of the ,CO~:-lty -Recb-:-der 01 sZ::J. Diego
County 27 December 1985 , :Pi'l" No. 85-488-373 , and, as o'..merand :,oIGer oftne
obligations thereby S:ecu:red'~_d.i:>,,~~,,)Y~t_eby :uake s.'.Jbjec~ 'ap._'9~ 's~':>o.:-di!1ate the l~'E:1s the:.ecf
to the EasE2c,t gra:oted,byCFPOWAY. lTD.. a Cali'fornia limited Dartner.sh"ic,
to Tn:: CITY 0:: ?O....~Ay., it b,eiD-g;'und'e.rstood 2nd agreed that: for,eclo-s1.ire of 'said<Deed of
Trust snaIl not affect, d'i::f~2t "9r rende:r i.=!v21:.d any ri:g}ts u::der and':by v-i-rtue of
.sai'd easetDe:;:, c....id said. ec.serce~'t:' shall be par2IDo.tlDt: end:: ,s.uperior to' :~he .:-:.ghts of
any purchase::- '...l:1cer a ,foreclosi.:re of. said Deed of Tru-'st,.
Said e2s~me~: ~as
the real property
recorded If-Is-get
described in said Deed of Trust.
:File
No. gg -f)"g1'2-<:;X
, and affects
The undersig7:eo. 3e:1ef.-icia-r,y ,of: s~id, :Deed of Tr-ust d:ecl'arce~ and a'c1-:.no\.:ledges that' i~
hereby -inte:;:i;o~aI1y ,..:aive5., r-eli'nquishes, and subo:::'.dinafe"s ti"!e pri,?rities- and
s1;periori'ti~.s of the' 'lie~n an'd, ,ch'_2.r,ge 9f said Deed c'r *Tr,ust UpO:1 the land' described '.'
therein in :c.\lOI of ,sail ea's'e'~ri~!'.t, ':and that it D.~'de'Zs-t~E-9.s :that: in' -reli'ance upo..l. and
in. considerat.ioa of tn-is r,.;ai~...e::" reli'nquishment, an'd ,s~b'c,r,din-atiDn spe~,ific :m_qi}e:~a::-y
.::.nd ,other obii'gations'....,ll'l ,be, entered into by Thi'rd Par.fie-s ,~l\i;ch\;o,uld 'not be made
or. '~ntered {~So :b\l~ ,(Dr said' .reliance and ,the execution' by '3enefici'a:ry of this \';aiv.e'r,
~.eJ~-.i~nqu~s~_i::e;)t J 'and subo~di_nation.
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.BENEr:ic.iARY: :CANADIAN COMMERCIAL SANK
By:.
~ ..--e7'~./ ,??~
,
By:
NOTE: ALL SIGN.'.TURES MUST,BE.ACKNO\.ILEDGED
NOTA..'ZES.:Use proper fon. attached
or s't,a,pIe appropriate
fOIIIl' ,thereto.
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SUBORDINATION AGREEMENT
C:. F... poway i' LTD
APN #'317-223-1:S
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:
/A~~-_
R. G. Heasman
Its: President
The undersigned hereby consent to and approve the terms of this document.
Price Waterhouse Limited, as liquidator
of the estate and effects of Canadian
Commercial Bank
By PW Liquidators, Inc., as agent and
attorney in fact
By:
~k-_~-~-
.......
R. G. Heasman
Its: President
Bank of Canada
By PW Liquidators, Inc., as agent and
attorney in fact
~.4~
--....
By:
Its: President
----
'\
PW Liquidators, Inc.
By:
~5 ~~ -
-------......
"
~--
R. G. Heasman
Its: President
-!.'"
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o 1726
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STATE OF CALI FORN [A)
) 5S.
COUNTY OF ORANGE )
On this lIth 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,
personall y known to me (.w:-p.l'&1fed-'t-o-me-Gn-t-he-bas;is-of-stl:t-i's,f,ac-to-r-y-ev-idence-)' to be
'the President of PW Liquidators, Inc., a corporation, the cOl'poration 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.
~ {('()v, J-~
Notary's Signature
OFPtc':lAL ~.E/-\l,
BEI.INDA KAY F'<AY
r,!'):J.IRY PIJ6i_1C - C,1L,,':O;"'~i-:',
ORAi1GE COUNTY
M, camm. expires NOY 12, 1991
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 11 th day of October, in the year 1988, before me, Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appe~red R. G. Heasman,
personally known to me ~~plo.~d to me-en-the-basi&-of-sati~fa~~ory-ev~den~} 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.
~s!ft;;/!~/
OF~;r.:I.,-\L ('';".':\! "
BFI.JNDA VA',! rRAY
NOTARY f-L'L..l.:\.: - .." ":ul:U.JIA
ORArIGE COUNlY
My camm. expires NaV 12, 1991
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE ).
On this lIth 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 ~---rome on-1:he-bas-i-SOf sat1:sfactory-ewdence-)- to be
- the Preside-ilt..of' PW' Liquidators, Inc., a- coiporatlon,: the corporation subscribed to
the within instrument as the agent and attorney in fact of Bank of Canada and
acknowledged to me that he subscribes the name of PW Liquidators, Jnc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
~i!n~:~/-
OFFrCI/',L SEAL
BELIi,!f)A f'AY FRAY
rWTi~RY .r'UDUC - :':~\L1FORNIA
ORAIIGE COUNTY
My ccmm. expires NOV 12, 1991
,~.rr
STATE OF :CALIFORNI<A)
) ss.
,COUNTY OF ORANGE )
.
o 1727
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On t,his 11th day of October, in the year 1988, before me, Belinda Kay 'Fray the
und'ersigned Notary Public. in and for said State, personally appeared, R. G. Heasman,
personally known to me (-a-r-pw_v.ed to me on....the basis of saj.ist:aG-tory-ev-idencgJ 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.
, N!:.&sit~2e~
orrrCIAL SEAL
BEI.II'iDA KAY FRAY
r'J':JTi\rt: r;'!jOL,,:; - . ~J.i.:J,';j\jIA
ORANGE COUNTY
My camm. expires NOV 12,1991