Subordination Agreement 1988-587245
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1661
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i R:CORD(D IN ','
.f OFF!CiAL Fi'~i-<f~!'Nf!S
!;OF~t;f;' ~i::"~~; f0:1~TY~ G~j
RECORDING REQUESTED BY:
THE CITY OF POWAY".
S8NOV ! 5 PM 3: 35
f VER,\ L. LYLS_ I
~ouHr'( P.ECORD~
WREN RECORDED MAIL TO:
THE CITY OF POWAY
P.O. BOX'"
pO\,Ay, CALIFORNIA
92064
-NO FEE
THIS' SPACE FOR RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED,
10 May 1988
Coun ty, 20 Ma y 1988
obligations ,thereby secured
to the Easement granted by
theunei'ersigned, as Beneficiary under a Deed .of Trust dated
, recorded, ,in' the Office of the County Recorder oJ: San Diego
, ,File No. ' 88-239661 , and, ,as owner and holder of the
does hereby 'make subj'ect,..and subordinate the liens thereof
THE HOOBERMAN GROUP. a California Corporation
to THE CITY OF POWAY, it being' understood and agreed that 'foreclosure of said Deed of
Trust shall not affect, defeat or render invalid any rights 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.
Said 'easement was recorded--1l:::.II)-~Y)'
the real property described in said Deed
, File No. 8$1-597 zA-L, and affects'
of Trust.
The undersigned Beneficiary of said: Deed of Trust declares and acknowledges, that it
hereby intentionally waives, rel"inquishes, and subordinates the priorfties 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 understands .that 'in reliance upon arid
in. consideration of this waiver", relinquishment, and subordination specific monetary
and other obligations will be entered into by Third Parties which would not be ~de
or entered into but. for ,said reliance and the execution by Beneficiary of this waiver,
relinq~ishmentJ and subordination.
Dated:
octo~ Z+. ICjiZ
,
BENEFICIARY: WELLS FARGO BANK, a
By:
,/
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,RN No,
Exc. No.
:Proj ect:
By:
NOTE: ALL SIG~ATUR;S MUST BE ACKNOWLEDGED
NOTARIES: Use proper form attached
or staple appropriate
form thereto. '
Water easement of Par:ce'l ,2 of Map 15221
5579-(9
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o 1662
STATE OF CALIFORNIA
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COUNTY OF SAN'DIEGO
On this ~ day of O~ '~88' ' , , before me, the undersigned,
a Notary Public and and for said state, personally appeared ~Id ~'~Ii"" ,
arid 't:a\e. ~~!.lt , personally known to me, (or proved to me on the
basis::of satisfact!ory evid~celto be t,he' V;ro' PI'e&'111 DM.;t. .', " and . il\S~iStiWlt'"
"l(~ Ptfl.'\d..W.t:'" of Wells Fargo ,Bank, N.A., a National Banking Association that
executed the within insthimentand known to'me to he the person(s) who executed
the within instrument on behalf of the Association therein named, and acknowledged
to me that such Association, executed the same.
WITNESS my hand and official seal.
~:1"". ~hY~
. . HEATHER J. WARNER
," ...' NOTA. RY. PUBLIC-CALIFORNIA
SAN DIEGO COUNTY
~y Commission Expires June 2, 1989