Subordination Agreement 1988-587251"I
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RECORDING REQUESTED BY:
88NOV i 5 PH 3: 35
THE CITY OF PO'~AY .
I VCR":'. L. LYLE i .
L COUliry RECORDER I
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WREN RECORDED HAIL TO:
THE CITY OF PO\,'AY
P.O. BOX
POli.-'.Y> CALIFORNIA
92064
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eco FEE
THIS SPACE FOR RECORDERS USE
SUBORDINATION AGP~EMENT
FOR VALUE RECEIVED, the unders~gned> as Beneficiary under a Deed of Trust dated
31 July 1986 . recorded in the Office of the County Recorder of San Diego
County 16 'Seotember 1986 ,File No.. 86-407B48 , :and as o;.mer and holder of the
obligations thereby secured does hereb7 ~ake subject.and subordinate the liens thereof
t~ the Easement, g:anted by CF POWAY LID., a California limited oartnershio
to TliECITY OF PO;i.;Y, it being' understood and ag:eed that foreclosure of said Deed of
Trust, shall not affect, cefeat. or, ,;"enci,er ;:.nvali,d a~y rights under and by virtue of
said. easement, and said easeme,.t, shall be paramount and superior to the rights of
an:y purchaser 'U:1cer a foreclosure of said Deed of Trus-t.
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Said eas~ment \.02S', recorded ::..L !! a...
the real prope:ty described in said Deed
, File No,
of Trust.
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, and affects'
The undersigned 3'enefiti'ary' of sa'id Deed of Trust' c"eclares and acY~o....~lecges that it
he'reby ir.~entional1y \"'aives, -relinquishes, and suborc"',:ates the priorities and
superiorit~es of the l~.en an)i charge of said.De~d of Trust upon the land described
therein "in fav,:>r of said e~'se'ment, and that it cncierstands that: in reliance upon and
in. SO:1sidera~i~n of this ~aiver, relinquishr.ent, and subordinatio~ specific monetary
and other obligations will be 'entered into by, Third Parties which .would not be, mad'e
or entere'd ir'it~ but for said reliance"'and the execution by Beneficiary of this ...aiver,
reli~quishrnen:, and_ subordi~ation.
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Datec:
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BENEFICIARY: SECURITY PACIFIC NATIONAL
~ANK
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E>cc. No.
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''KILJ'o.<-2':0- 1\J""l~ON
By: ro-v-e 4/. .13/
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NOTE: ALL. SYG~ATURES MUST BE ACK..'W:.rLEDGED
" N,OTARIES: Use properfornl attached
or si:~pte appropriate
fore thereto,
Along Pomerado Roftd just north of
So. Po.way Pkwy.
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
} 55
o 1695
On OCTOBER 19, 1988
RICHARD D. NEILSON
da/.;,M.dr.dr/ UdeMe to be a Vice President, and PAUL II. BODEK
, known to me dr/pfJ.,MthlrrleJdn!tt/.r!tlaUd:>fdaMfiJdr/ UdeMeto be an ASSISTANT VICE PRESIDENT
of the SECURITY PACIFIC NATIONAL BANK,the association that executed the within Instrument, known to me to be the persons who executed the within
'l' Instrument on behalf of the association therein named, and acknowledged to me thaI such association executed the same, and acknowledged 10 me that
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such association executed the 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 Mr/"f,./eMdrM 0r{fj"f ~isls/o/
,
......~ WITNESS my hand and official seal
e.. OFFICIAL SEAL
,: '~.", HELENEGINTERS
',; '"" NOTARY PUBLIC-CALIFORNIA
" ,',~,;"., My f~~:;.~~EJ;~~~~g;Nn992
(Seal)
(Notary Pub!'
. 030B74 8-83* 25 PS Bank Officer's Notarial Acknowledgement