Subordination Agreement 1988-587248
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RECORDING REQU~STED EY:
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THE CITY OF PO'"'AY .
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WHEN !li:CORDEDYoAIL TO:
THE CITY OF PO~AY
P.O. EOX
PO\i.-\.Y, CALIFOR.!nA
NO FEE
92064
THIS SPACE FOR RECORD~RS USE
SUBORDINATION AGRE~~NT
FOR VALUE RECEI\'ED, the und'ersigned, as Beneficiary under a Deed of Trust dated
31 July 1986 , recorded in the Office of the CO,unty Reco::der of San Diego
County 16Seotember 1'986 ,F;ile, :N9.86~407fi48 , and as. owner and holder of the
obligations tne::eby secu::ed does he::eby !:ake subject '.and .su.bo::dinate the .liens thereof
to the Ease~ent g::anted by CF POWAY LTD., a Callfornla llmlted oartnershlO
to TEE CITY OF P'ORt..Y, it, being' .unde::st:ood and agreed .that foreclosure of said :Deed of
Trust shall not affect, cefea't. or rend.er invalid any' rights under and by virtue of
said easement, cS,'l1d said .easement:' shall be pa:.-amount 2:1d' super::cir to the :-ights of
aey purchaser under a foreclosure of, said Deed, of Tru:sL x:-t':>7 ,; A.,/
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Said ease!:lent ..as recorced l/-15-0'Pi , File No,. 6<3-fft67Z.4-7 ,aod affects'
the .real property described ir. ~aid Deed of Trust.
I~e undersigned Benefici2ry of said Deed of Trust cec~ares and acY~c~lecges thac it
hereby in tentionally \o."aives). relinquishes, and ;stibo::-o'.;""'a ~es the priorities and
superiorities of the 10:en and charge 'of said Deed of Trust upon thelaed described
therein in favor of said easement, and that it understands thae in reliance upon and
in. cO:1side:'ation of this \.:'aivei" relinquisru:.ent, and subordination specific monetary
and. other obligations will be entered ieto. by Third Parties which would not be made
or 'entered into but for said reliance and the execution -by Beneficiary of this \,;aiver,
relinquishment, a~d subordi~at~on.
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Dated: ~'6X
RIll 1'.0.
Exo. No.
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Project:
BENEFICIARY: SECURITY PACIFIC NATIONAL
!lANK
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By:
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\GMAcO<-!)' .:D. N.;; ,\ ... o..J JP
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By:
NOTE: ALL SIGSATURES ,MUST BE ACK..'10..'LEDGED
". NOTARIES: Use prop~r fO-rnlattached
or staple appropriate
form thereto.
Street Dedication and Public Utility Easement
Pomerado Road and So. Poway Parkway
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
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On OCTOBER 19. 1988
RICHARD D. NEILSON
Nif,tf.{t~r/J #N4e to be a Vice President. and l' ..11. R IlQDIiK -
kno';'n to me MrI<I""'~frI~"<lrft'M~f/;14:l 'I.;.i'lfpr/t<lr/J P""efoNto be an · S>ISWlT '!ICE l'RE5IIlENT
of the SECURITY PACIFIC NATIONAL BANK,the association that executed the within Instrument. known to me to be the persons who executed the within
.. Ir;;t,ument on behalf of the association therein named. and acknowledged to me that such association executed the same. and acknowledged to me that
Sl ';.h 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 dJ ~tf>'{riJ1'I 'l'f p~ 'fit 'Pf'i"f9'
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~( .: ~. WITNESS my hand and official seal.
@'OFFlCIALSEAL
..f '-' '" HELENE GINTERS
.N< .'.. NOTARY PUB.UC.CAUFORNIA
. ,_ ., LOS ANGELES COUNTY
. . .. . .' My Commission Upiies Au&. 4,1992 .
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(Notary Public's JY ature)
(Seal)
030874 8-83* 25 P5 Bank Officer's Notarial AcknOwledgement