Subordination Agreement 1988-296333
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THE CUY OF PO~'AY ,
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RECORDING P2QU~STED BY:
WREN RECORDED l'.AIL TO:
THE CITY OF PO~AY
p,o'. BOX
92064
No FEE
Tri~S SPACE ,FOR RECORDERS USE
POIiAY, CALIFOR.."iIA
SUBORDINATION AGREEMENT
~FOR~VALUE'_RECE'I",ED,..ithe, unc'e:rsignedi, as Beneficiary, uncer a"Deed_of Trust_cated_ -- ,-_ -
3J Jul y 1986 , 'recorded in: the Offi.ce, Of the, C,Ounty Recorce,r of,S~::t Diego
'COtll1ty, '16 Seotenibe'r1986 "FileNo" 86-407B48 , and 'as o'wT.er and noider'oi t.he
/.o'~.iiga'ti'~ns the:r,eby.~.ses;~=_;ed :dc,,~s, '~er~~y:_, 'm~~e_ "s'.lb"j ect:\a~d ,.s~.~ordi::a'te the ,-l:.ei:s - thertief
/ ,to, the Easement gralOted'1::y CF POWAY LHL.aCallfornl,a, llmlted DartnershlD '
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.to THE GITY OF P.Ol-,\';'Y', it bei~.g'- yp..gerstood ~nd, agreed tha~" ,foreclc,st::re of sai'd Deed of
;Trust shall no',t affect"', de'fe.at. o"r :r.erj~.et ~valid 'any ';-'i'g1.1ts, uifc;:er' a:Jd by vi~,tue> of
;sai'd ea.'se1:lent, ~"1d. s2.id' ease~e:,~t shail be .?2.rarnount', ,~"n'd s\i?er::'c5r to the r:.gr.ts of
a'Cy purt;.Gaser u:1cer a, f'or,ec'losure of. sa-id Deed of ,Trust ~
Said easeme~t ~as recc~ced
the re2'l,:pr,oper~y' descri.bed ~in said Deed of
to -z-I,-S"Sl
, FileNo, 38 - L q (p 33 Z-
Trust~
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T:'8; un'c1ers~8.i:'e.dEe:1Ec{iciary ,q( :5a~9 Deed of Trust dl?cl_a,r,~s ,and ackno.....lecges "that tt
'hereby inte:1tior.ally "i.:aiv_es, r"e:l'inqui-shes, and subo:r,;d>";:~a'tes, the ?riorities ~t)d
superiorities of the E'en and charge of said Deed of Tru~t 'upon the< land des,cribed
~,r.erein .in favor of:' ,sa~d .~aseItent, ~nd that ~t rind'ers,t~nds' that in reli~nce UpO:1 and,
~l'?-. ,consice:r:at::on '9f 1;his ...;a.i.y,e:r;" ':t"e)':':L~'qu,is~ent:, 'an.d ~ub'orc::ina,tion specific monetary
. ,anf:lcithe>: obligations will 'be entered into<bYThird 'Pa,rti"s which ,",oulli notpe ,=de,
,6":c' "entere'q. -iI1"t:o-$ut'" ,for ~~~~id~'z:,elt.i;aI1'ce' ,and .t-he i;x_ec;t.: t.i'onn, ,by .:B:~_~~_~_sAa ry of tpi'Sl '~~.~Iv'~f;
','r-eri'nquishnent, 'and, ,stibordi;1ati'on. -
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Dated:
.R!\< No.
:~xc. No.
Proj!,c t:
BENEFICIA..;;'Y: SECURITY PACHIC NATIONAL
~ANK
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By:
,NOTE: ALL SIG~ATURES .MUST BE ACKlIO~'LEDGED
" NOTAR'IES: Use proper fonu attached'
or staple appropriate
form thereto.
bcYL V P
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,WaJer El;\sement (Parcel 2) ,of P,U,E. and Wat.er EsmL Pliat
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CORPORATE ACKNOWLEDGMENT
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Stateo!
CALIFORNIA
County of LOS ANGELES
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@".OFFlCIALSEAL
'~:',. LYNESE S, WILLIAMS
:-~'. ,,; NOTARY PUBLlC.CALlFORNIA
. ,~, ',' LOS ANGELES COUNTY
".., :'" My Commission hpir., May 29. 1990
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7120122
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~ 1209
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NO, 202 I
On this the ~ day of MAY
88
19_, before me,
LYNESE S. WILLIAMS
the undersigned Notary Public, personally appeared
RICHARD D. NEILSON AND THEODORE M. SNYDER
J9{ personally known to me
o proved to me on the basis of satisfactory evidence
to be the person(s) who executed the within instrument as
\!H-:E PRESTDENT S or on behalf of the corporation therein
named, and acknowledged to me that the corporation executed it.
WITNE S my hand and official seal.
NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd. . P,O. Box 4625 , Woodland Hills, CA 91365-4625