Subordination Agreement 1988-296331
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!9fl!l JUN 2! AM 10: 00
RECORDING REQU~STED' BY:
TRE CITY OF POWAY ,
I '/EFV~ L. LYLE
(;OU11I1' HECGHDEi;
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\ffiEN RECORDED MAlL TO:
THE CITY OF POWAY
P.O. BOX
POWAY, CALIFORNIA
,92064
NO FEE
THIS SPACE FOR, RECORD~RS USE
SUBORDINATION AGREEMENT
FOR VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
31 July 1986 , recofded in the Office of the County Recorder of San Diego
County 16 Seotember 1986 , File No. 86-407848 , and as O\ffier and holder of the
obligations thereby secur;ed does hereby ,make subject ,and subordinate the liens thereof
to ,the Easement granted by CF POWAY LTD.. a Ca1 Horni a, 1 imited oartnershio
to TH~ 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 pararnountand su?erior to the rights of
any' purchaser under a foreclosure of said Deed of Trust.
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Said eas~ment ~as recorded _ ~ 6, , File No.
the real 'prop'erty described in said Deed of Trust.
?i y-z q &; "3 2. 9 , aod
affects'
The undersig"ed Beneficiary of said, Deed of Trust declar'es and acknowledges that it
hereby intentionally \..'aives" -telin:c:(uishes, an~ subordinates the priorities and
superiorities of the lieo and charge of said Deed of Trust upon the land described
therein in favor of said easement, and that it cnde~stan9s that in reliance upon and
in_ consideration of this ;...:aiv-er.',i; ~el~nquishment, an-dsubordination, spe'ciJ.i'c monetary
and other obligations will be entere,d ioto by Third Par,ti'es which would not bernade
or entered into but for said' reliance and the execution by Beneficiary of this waiver,
relinqui'shment; and' subordination.
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Da ted:
RNNo.
Exc. No.,
~roJec t:.
BENEFICIARY: SECURITY PACIFIC NATIONAL
~ANK
By:
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By:
NOTE: ALL SIG~ATURES' MUST BE.AC~~OWLEDGED
'. \_~OT~l:'ES: Use proper fonu attached
Of staple appropriate
,form there to.
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Drainage and ~ater Easement ifi Lot 48
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CORPORATE ACKNOWLEDGMENT
CALIFORNIA
State of
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LOS ANGELES
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County of
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I ~" OFFICIAL SEAL
(, ''-..;' ,.~, LYNESE S, WILLIAMS
~':}~~'k;; NOTARY PUBL!CCAlIFORNlA
~~: ,iOS ANGELES COUNTY
I ~,. M'I\Gfllr.mission-tliflire3 M2Y 29, l~
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7120122
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NO. 202
On this the '26thdayof MAY
19 88, before me,
LYNESE S. WILLIAMS
the undersigned Notary Public. personally appeared
RICHARD M. NEILSON AND THEODORE M. SNYDER
19< personally known to me
D proved to me on the basis of satisfactory evidence
to be the person(s) who executed the within insfrument as
1TH~l' PRl'STDl'NTS or on behalf of the corporation therein
named, and acknowledged to me that the corporation executed it,
WITN S my hand and ficial s 1\1
, ~ v/
NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd. . P_O. Box 4625 . Woodland Hills, CA 91365-4625