Subordination Agreement 1988-587249
..."'."=':
" '";../" ,~
5
<
.
'S,teSi8!it"!2,!4t9
@
;- ~
,
"
1[1
o
1678
r:?[DECCROED IN ---.
0, r lei/i-; fl~{'Oonc
~.. ~ "'fJ -,..:,..- ,~~~ "'__h~
ur """ [l,...0 "'"i'''', ~. J
'- ..-...,]..: ,,;__'J..
"
THE CITY OF PO\.lAY .
Q8"0" ,- P"
U .iI. 'I ~i'I 3: 3S
, '-
j \1::.5';1 L I vL~r'" ,
,L~[)UIi;i RE(dRD~
RECORDING REQUESTED B~:
WHEN RECORDED ;MAIL TO:
L
THE CITY OF PO\.lAY
P.O. BOX.,
PO\,AY, CALIFORNIA
92064
NO FEE
THIS SPACE FOR RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, ~he undersigned, as Beneficiary under a Deed of Trust dated
'1'9 December 1985 , recorde'ci in' the Office of the County Recorder of San Diego
County 27 December 1985 , File No. 85-488-373 , and as owner and holder of the
obligat,ions thereby secured does hereby make subject 'and .su~ordinate the, liens thereof
to t~e Easement granted~y CF ROWAY. LTD.. a California limited oartnershiD
to THE CITY OF POwAY, it being' understood and agreed thai: for'eclosure. o{ said Deed of
Truscsha"ltl not affect, defea't or Fender invalid any ;-ignts under and by virtue of
said easement:', and said easement- shall be paramount and superior to the rights of
any purchaser under a foreclosure of said Deed of. Trust. . ...-on, n/
)/-Ir:;-'ifJ J>8-;;> ';' /,;270
Said easement "as recorded 11-/:J~9R' , File No. 33-587:2.'/7, and affects'
the reel property des7ribed in said Deed of Trust.
The undersigned Beneficiary of said Deed of Trust declares and ad:no"ledges tl1at it
,hereby intentionally ."aives, .relinquishes, and subordinates the priorities and
superiorities of the 'lien and charge of said Deed of Trust upon the land described
therein in favor of said easement" and that it onderstands that in reliance upon and
~~. consideration of this "'~caive~, 'relinquishment, at:'~:, ,subordination specific monetary
and o~her obligations will be entered into by Third Parties which would not be made'
or ,~n'ter~d, into but for said reliaJ;lce and t,he execution by Beneficiary, of t.his waiver,
~el~n~~ishme~t; and subordination a
Da ced':
BENEFICIARY: CANADIAN GOMMERC IAL BANK
RN:No.
Exc. No.
Proj~e'c t :
BY:~,4/~/ ~
By:
NOTE: ,ALL S,lGNATURES MUST BE .ACKNO\.ILEDGED
NOTARiES: Use proper form attached
or staple appropriate
form .thereto.
Street Dedication. and Public Utility Easement
Romerado Road and So. Roway Rarkway
.....
...
o 1679
...
,
SUBORDINATION AGREEMENT
C. f. Poway, LTD
October 13, 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:
~. .',
/( ---i:/ d-~~-_____
--
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:
,f-~-t~ 4
~) ~ -c~___ ---=-._~.___
R. G. Heasman
President
Its:
Bank of Canada
By PW Liquidators, Inc., as agent and,
attorney in fact
By:
Its:
R-1f- 4..--~_
Presiderit . \
PW Liquidators, Inc,
By:
~~:-""''''''-~
~
-R. G. -Heasman
Its: President
'.
...
o 1680
.
STATE OF CALIFORNIA)
) ss..
COUNTY OF ORANGE )
On this 13th day of October, in the year 1988. before me, Belinda Kay .Fray the
undersigned Notary Public, in and for said Stat~, personally appeared R. G. Heasman~
personally known to me ~o-me-on_the_bas.js_of-s'a'ri'S'lactory evidence,}- to be
the President of PW Liquidatorj, Inc.. a corporation, the corporation subscribed to
the within instrument as the agent and attorney in fa~t 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.
a;);J2/c ' ~ .
Notary's sign2re~
OFFICIAL SEAL
BELINDA KAY FRAY
fJOTnRY PU8L1C - C}~LlFonNIA
OP.ANGE COUNlY
Mj camm. expires Naif 12, 1991
STATE OF CALIFORNIA)
) ss,
COUNTY OF ORANGE )
On this 13th 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 ~.wvect-:to-lRe-tm-t,he-basis-of-sa.t-isfac"'o'ry-ev.iden.t'e') 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 ackno~ledged to me that he subscribes the name of PW Liquidators, Inc. thereto as'
principal and PW Liquidators, Inc. as agent and attorney in fact.
~L!) b, 7/-0/'
Notary's Signature
OH'lCJAL SEAL
eElIND.'< f~AY FRAY
r.JOTl~~Y i}UOUC - CAUi-"ORNIA
OnAUGE c.OUNTY
My camm. expire"s iWV 12, 1991
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On'this 13th day of October, in the year 1988, before me, Belinda Kay Fray the
undersigned ~otary Public', in and for said State, personally appeared R. G. Heasman,
.person:ally kl10wn to me. -h" v,uved-t-o-me-eR~.t"he-basis-:o.f-'sa.t-is.f'ac'~orl'-evidenc\,') 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 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.
.~d;:Q 1Yr~/'D'f .
Notary's Signature
1 ~~~~;:~\"
I !~""::;'::~tjl:1~
't'_~~'\~""
'~'~l '
'<'OIl",..
OFFiCTAL SEAL
eELINDf\ KAY FR." Y
fJO-fflr.:YTlJE:IIC -, C~.LlFORrJlP\
ORAiWE COUNW
My camm. expires rlOV 12, 1991
~
...
.
o 1681
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 13th day of October, in the year 1988, before me. Belinda Kay Fray the
undersigned Nbtary Public, in and for said State, personally appeared R. G. Heasman,
personally known to me..i.a.J:-J>-roveU tu me eil-t-he-baS'ics-o-f-sat-isJ-ac,toTy-ev1:denceT to be
the President of PW Liquidators, Inc., a corporation, the ~orporation 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.
',A-d.:o &: :;2~
Notary's Signature
r:;i~~~~-~
l ~,;>c'-c-~c" OFFICIAL SEAL
.,r """'i",~\, '), ~ 1 '''..'' n
I ic:"""";;:.r;",:II'-.I.!: IIELlI',D/\ hr"\1 FK/~Y
'I~"'. .":Il'.'~9" f'O-{ ~t" ru'" If" '-''XL'''mmIA
'~'\-('':;:[;:.'W~' : I.~ . . :':I~ ~ - '..., ,1-
\ '\\..b~;.;~': (;~NGE COUifTY
~ rill COr:1:n. cf:plres r.:ov 12, 1991
----~~