Subordination Agreement 1988-296337
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RECORDING REQUESTED BY:
maB. jUN 2 -! MHO: 00
THE CITY OF POWAY
LiVE:F_~; L. L~.tLf :1'
In './" -)- nfJ ,;:~}
CO,..l1 , 1.LC,,,,C'2._
WREN RECORDED MAIL TO:
THE CITY OF POWAY
P.O. BOX.."
POI<AY, CALIFOR..'HA
92064
NO fEE
.THIS SPACE FOR RECORDERS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the und e,r signed , as Beneficiary under a Deed of 'Trus~t dated
,T9 December 1985,.' ,re:coiae'dinthe Office of 'the County Recorder of sanbi::ego
County 27 December 1985 . c', File No. 85-4883T3 , ~n.d as' owner and holder of the
obligations ,thereby secured'does hereby lllake subject.:a'ndsubordinate the liens thereof
to the'Easement ,granted by CF POWAY. !.'TD.. a Californi'a limited partnershio
to 'TEE: CITY OF PO-""lAY, it 'be,ing understood and a'g'reed that,fpreclosure pf said Deed of
Trus t shall not affect ,defea,t or r'ender invalid any, ricght's ,under and by ,virtue of
sa{d. easement, ~"1'd said easement. shall be para~o.un~ ,a~d superior to.. the rights of
any purchaser under a !,oreclosure of said Deed of Trust.
Said easement ",a:s recorded (p-ZI-g )?,
the real property described in' said Deed of
, FileNo. qg- 2'Q&.3 35
Trus t.
, and affects '
The undersigned Beneficiary of said Deed of Trust d'edares and aCY.I)owled'ges th,at: it
,hereby intentionally waives, relinquishes, and subordinates the prior'ities and
superiorities of the lien and charge of said Deed' of r'l:Ust upon the 1:and described
ther.ein in favor of said easement,,:and that it onderstand's that in l'eliance upon and
in. consideI;'a'tiDU ,of:. this '~~?iv~_r:;>>_ r.elinquishment, and 'subordina~i'on spe;c.i:fi:c' .~qneta):y'
and other obligations, ",Hl! b,e entered into by Third Parties wl)ich ",<<uld, not be:ma<te
or enrere'd into bur, .for said. 'r~~oi,ance. 'and the, .execution. by, Benefichry of ,thiS; ",aive,r ,
re'linqu'i'shment" 'and 5ubord"i:nat"io"ri..
..
D"ted:
R/I<, No.
Exc.No.
Project: '
BENEFICIARy: CANAD IAN COMMERC IAL B'ANK
By:
~ ~?&Cq 4'~
By:
NOTE: ALL SIGNATURES !-lUST BE ACKNOWLEDGED
". NOTARIES: Use prop.e_r form a"ttached
or staple appropriate
form thereto.
:Dfiiii.na'ge Eas,ements: in Lot '48, So, .of Metate La,ne
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v 1223
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SUBORDINATION AGREEMENT
C. F. Poway, LTD
June 2, 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:
e~/k~-
R. G". Heasman
Its: President
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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: A'&:;;:,;;-
R. G. Heasman
Its: President
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Bank of Canada
By PW Liquidators,
attorney in fact
Inc., as agen t and
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By:
Its: President
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PW Liquidators, Inc.
By:
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R. G. Heasman
Its: President
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 2nd day of June, 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 ~(Bl flP-.uo9 1::n W~_ Bu LlIc LCL;::'~b uf ~c1L.i-6f<'lCLuIY c...~ide.n~to be
the President of PW Liquidators, Inc., a corporation; the corporation subscribed to
the ~ithin instrument as the agent and attorney in fact of Canadian Commercial Bank
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.
~&na~?~
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OFFICIAL SEAL
BELlNDh KAY FRAY
f'JOTAHY PUBLIC - CALIFORNIA
ORANGE COUNTY
My camm. expires NOV 12, 1991
~~
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
On this 2nd day of June, 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..(..o1 p.luved Lv IUt:: uu dIe. Da.3ia u[ ;::,aLi6fa-etoly cV~dcHCe-t to be
the President of PW Liquidators. Inc., a corporation, the corporation subscribed to
the ~ithin 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.
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Notary's Signatur ~
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
OFFICIAL SEAL
B'ELIt-JDA KAY FRAY
rW1ARY PUBLfC - CAUFORNIA
ORANGE COUNTY
My comm. expires NOV 12, 1991
On this 2nd day of June, in the year 19'88 . before me. Belinda Kay Fray the
undersigned Notary Public, in and' for said State'. personally appeared R. G. Heasman.
personally kno~n to me f,o, .P,o"QQ. te ,me--nn tHe llaG~G vi Sat~e.>tide,ftC'e"l 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.
OFFICIAL SEAL
BELINDA KAY FRAY
rWTARY PU5LiC - CALIFORNIA
ORANGE COUNTY
My camm. e~pires NOV 12, 1991
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-v 1225
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"STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
o
On this 2nd day of June, ln 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 C.6r fJrsT.re-d Lu HIt- cht---thp bfls;<;.: gf 6dLi,::,[uclulyevi'denc-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 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.
v
OFFICI/\L SEAL
r.H!~~DA KA y FRAY
rJOTArd pucuc - C~,LlFORN1A
ORANGE COUNTY
My comm. expires NOY 12, 1991