Subordination Agreement 1988-587257
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'~---RECiJRDED IN'PiJ
' OF.FlCIi',l::S;-COROS'
.~~., ....rr!, .. ,.:;." ...
OF ..lfm ~H~!i"..1 L~J:;JN j Y. CA.
THE CITY. OF PO'"'AY .
88 NOV 15' PH 3: 35
I VERA L. LYl:.l;;_ I
L!:OlJNTY fiECORO~
RECORDING, REQU~STED BY:
WREN RECORDED ),.AIL TO:
THE CITY OF POWAY
P.O. BOX..
POliAY, CALIFOR.'<IA
92064
NO FEE
THIS SPACE
FOR RECORDERS USE
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SUBOP~INATION AGREEXENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
31 Ju1 y 1986 , recorded in the Office of the County Reco:::cer of San Diego
County 16 Seotembec 1986 . File No. 86-407B4R , and as O~Toer and holder of the
oblig~tions the:::eby secu:::ed does he:::eby .",ake "sub.j ect,.and ,su.bordinate the .liens thereof
to the Ease"ent g:::antedby CF POWAY LTD., a Ca11fornn 11mlted oartnershlP
to THE CITY OF POWAY. it being' unde:::stood and agreed. that fo:::eclosure of said Deed of
T~~st shall not affect" defeat or renc.er invalid any ;rights under and by virtue of
said easement-, and said easeruer.t' shall be paramount. and superior to the rights of
a~y pu:,chaser U:1cer a foreclosure of said' Deed' of Tr\;st.
Said easement "'as recorded /1-15-8% ,File No. 88-5,'S7;)..S-5
the ':::eal property described; in said Deed of Trust.
, and affects'
The undersigned ?enefic:..ary of sai'd Deed of Trust ce,c;1.ares and acy..Do.....lecges that it:
hereby intentionally \."aive_s" relinquishes, and .subordina-t'es ;the prioritie's and
~upe:::iorities of the lien and charge of said Deed of T:::ust upon the land described
therein in :avor of said easeroe~t, and that it understands ~hat in reliance upon and
in. cO:1sice:at:..on of this .....aiver, relinquishr,en1;:, 2n<d ~ubor:cination specific monetary
and other obligations will be ente:::ed iDCO by Third Parties which would not be cede
or entered into but for sa~d reliance an.d the .executi'on by Beneficiary of this \o:ai......er,
relinqu~shrneI:l.t:, and subordi,na t ion.
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Dated':
IOl''1I~
BENEFICIARY: SECUR.JTY PACIFIC NATIONAL
llANK
RjlJ No.
Exc. No.
Project:
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By: < laul... U. J5~~
"Pa.v t f.f. Go Ja.Y- . A ' v. t:>.
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NOTE: ALL SIC~ATURES MUSTBE,AC~~O'~EDGED
"NOTARI:-E.S: 'Use proper, forn attached
or ,staple appropriate
fore thereto.
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~ATE OF CALlFORN~A
COUNTY OF LOS ANGELES
.
On OCTOBER 19, 1988
RICHARD D. NEILSON
iaMf#qrNvlrieMe to be a Vice President, and PAm H RODER
known to me r/r i>lc/v~rlthHe/cl1fit/e/t/aiiU,vr/ai~#</rNv/rieMe/to be a n ASS 1ST A NT VH-:E PRE S TnENT
of the.SECURITY PACIFIC NATIONAL BANK,the association that executed the within Instrument, known to me to be the persons who executed the within
Instrument on. behalf of the association therein named, and acknowledged to me that such association executed the same, and acknowledged to me that
such association executed the within Instrument pursuant to its by-laws or a resolution of its board 01 directors.
} 88
o 1718
, before me, the undersigned, a Notary Public in and for said State, personally appeared
personally known to me of/r/r~~ /.r:/rf>r/ rlr/t'/>r/ ~<lsls/o/
", (Seal)
WITNESS my hand and official seal
~' OFFlClAL SEAL
. ~. " HELENE GINTERS
': . '. NOTARY PUBLlC.CALIFORNIA
" . LOS ANGELES COUNTY
. ,~ My Commission EXlIi'. Au.. 4, 1992
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030674 6-63* 25 PS Bank Officer's Notarial Acknowledgement
(Notary Public:s nature)