Subordination Agreement 1988-299637" <
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:988 JUN 22 Pl~ 3: I 5
RECORDING REQU~STED BY:
THE CITY OF PO'"'AY ,
I _VEHI',l,L'rl,[ I
U9UNIY ilECOR00.j
WREN RECORDED ){AIL TO:
THE CITY OF ?O~AY
P.O. BOX
PO\,.;Y, CALlFOR-'\lA
92064
NO FEE
,THIS SPACE FOR RECORDERS USE
SUBORDINATION AGRE'EMENT
FOR Vf,LUE R'::C~I\"~D, the und'ersigned, ,as Beneficiary under a Deed of Trust dated
31 July 1986 . recorded in the Office of the County Recorder of San Diego
Couroty 16 September 1986 ,File No.. 86-4071'.18, ' and as o'w-ner and holder of the
obligations the~eby secu~ed does hereby make subje'ct ,and ,subo~dinate the liens thereof
t . . ted b CFPOWAY LTD.. a Cal ifornia 1 imited partnership
o ~~e Easenes~ graD . y _ __
to T;;E CITY OF ?'o'~.;Y, it being' .understood and agreed that fo:-eclosure. of said Deed of
Trese sh~ll not affect, defeat or' rend..er invalid ar;y rights 'under and byvi:rt_ue of
s2.id easement., a..:./d sai!d ,eas~rner:.t' .shal'l, 'be par~mouT'_t' and su?ericr to the rfghts of
any pu:-chaserunder a foreclosure of said Deed of. Tiust.
, SQ4'Z,qq, 6~
Said easement ....as reco:cced 88-z."1t.. JG.
the real property cesc:-ibed in said Deed of
.:. fI-l.z:. - f'i'
. File No.
Trust,
t and affects.
Tne unce=sig~ed 3e~~ficia=y or said Deed of Trust cecla=es and ac~~o~lecges that it
hereby intentior.ally \"'aives, relinquishes, and subo!',di1:.a te.s, the priori ties and
superiori ties. of the. lien and charge of sa1dDeed, of Trus!: upon the land ce'scribed
therein i~ favor of said easement, and that it ~nGerstandsthat in reliance upon and
in. co~~icerat~o~ of this ~aiver, relinquis~ent, and subordination specific oonetary
and other obligations "ill be entered 1nto by Third Par,ties "hich ,",ould ,not be Ir....d'e
c.r enter;edin'-to ,but for said 'reliance and the execu~.fon by 'B"enefici'ary of this .....iiver:,
relin'qtiish!':1en:, and subordinat ion.
'Da ted:
BENEFICIARY: S ECUR ITY PAC IF! C NATIONAL
BANK
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NOTE: AiL SIG~ATURES MUST BE ACKNO\''l.EDGED
NOTARIES: Use proper fo~ attached
or staple appropriate
form thereto.
Qrainage & Sewer Easements Along Community'Road Offsite in Unit 2
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CORPORATE ACKNOWLEDGMENT
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. ,7120,122
State af CALIFORNIA
Caunty af LOS ANGELES
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~.. ' OFFICIAL SEAL
. '......;., LYNESE S, WILLIAMS
. ."~ , , NOTARY PUBLlC.CALlFORNIA
, f-" LOS ANGELES COUNTY
"..o~~,. My Commi<sion Expire, May 29, 1990
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NO. 202
On this the -26ll1day af Mny
1988-, befare me,
LYNESE S. WILLIAMS
the undersigned Natary Public, persanally appeared
RICHARD D. NEILSON AND THEODORE M. SNYDER
1'X persanally knawn to. me
o proved to. me an the basis af satisfactary evidence
to. be the persan(s) who. executed the within instrument as
lITr:R PRRSTDRNTS ar an behalf af the carparatian therein
named, and acknawledged to. me that the carparatian executed it.
WITNESS my hand and otficial sea
NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd. . P.O. Box 4625 . Woodland Hills. CA 91365.4625