Subordination Agreement 1988-296328
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RECORDING REQIESTED BY:,
THE CITY OFPOWAY ,
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WREN RECORDED MAIL TO:
THE CITY OF PO,,'AY
P.O. BOX"
P01<AY, CALIFOR.'UA
92064
Ito FEf
TliIS.SPACE FOR RECORDERS USE
SUBORDINATIONAGREEl-'..ENT'
,FOR \:ALUE, J\ECElrED, the ull,d~rs~gne,d, as Beneficiary under a Deed of Tr,ust dated
190ecember 1985 ,recorded,i'n ,the Of:f,ic!, of' the County Recorder of San Diego
'County 27 Oecember r985 , File No'. 85-488373 , arid as o-.iner arid holder of the
,obligations the~eby secured'',j'oesc ,hereby makesubjecc",and, subo~dinate the liens thereof
to the Easement granted by CF POWAY .U"O.. a C<i1 Hornia' l-imited oartnershi 0
to TEE' 'CITY OF ?O~AY, i-t b~:fI}g: .~un-d~e~s~oo.d and agre~-o.~- that' 'foreclos\.:re of said Deed of
Trust shall no.t .affect, aefe<?t.or, rend:er inva'li'd 'any -r:~:gh~s under ~n~ by yirtue of
sai'd ease~ent) 'and sa-ideaseroen'i shall b'e paramo,unt and - s'u?e'rior to the rights of
,any pu::.-chaser under a for-ec'losure o{ said Deed of' .Tru'st.
Said eas,eOlenc '.-as reco~ded, {o- 2.-1-'" gg
the, real property desc~ibed in ~aid D~ed of
, File No.8S - Z9'6 3 2.-lo
Trust.
, and affects
The un~e=sig~e'd :Ee~_eficic:.'r-y ,of .~a_id D..e,ed of Tru~t-"Q~'.<;,i:a::.-es an4 aCY..Dc\o:'lec&es t.hat it
her:eby iritent-iona'l'ly '.....;_ai\ies), felinqi.:.ishes,. and '-subb,i"ciin'ates the pri-ori"ties and
superiorities of the lien and charge of said Deed of T-rustupon 'the land described
therein i:l. 'fa,:,or:, or s.~id ,~a'e_e.ro,~.n_t ,.-; ?:~~ ~hat ~:t und'e;-st;,a~ds ~hat in reliance upon and
in. cons:';ce1'-a__t.~on' o'f ,thi,s' ,,=,,a*i.:~,~_:r;, r.:el.iI2quis~,e_nt, and s,ybordinati',on speciJic monetary
au_dothe:r oJ:lligations "'iiib~, entered i"toBy Third Par,ties which would not be",made
o,r e-nt'et~e'S1.., fnfiY but fcir':';said reliance and the 'exect;ltion.. ,by Be:1eficiary o'f thi:s' \.o'aiv,er,
I:'elif.quisnt.:en t;" and suboro'ina't1on.
'Dated:
~IM 1'<;>.;
Exc. 'No;.-
Proje.c t: ,
BENEFICIARY: CANADIAN COMMERCIAL 8ANK
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By:
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By:
NO.'!E,: .A,LL, :SIG~ATURES MUSt BE' ACKNO,,'LEDGED
'. NOJARIES:, Us~e ,p-r-op.er .fonG attached
or stap1:e ap'p'ropr1~te'
for:n,rhetero.
" Ora\nage Easement Offsite - So" of South poway- Pkw,Y,.
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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 Pr,;ce Waterhouse Limited,
as liquidator of the estate and effects
of Canadian Commercial Bank
By:
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R. G. Heasman
Its: President
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
President
...
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Its:
Bank of Canada
By PW Liquidators" Inc.. as agent and
attorney in fact
By:
Its: President'
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PW Liquidators, Inc.
By:
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R.' G. Heasman
Its: President
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1165
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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 tor t'.L~'v,-a. h.... mp nn tHe bacia 8f"-s~p..,;np.nc..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 Canadian Commercial Bank
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.
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
~
OFFICIAL SEAL
BELINDA KAY FRAY
r'!OTAR'('PU~LiC - CAL1~OR~J1A
ORANGE COUNTY
My camm. expires NaV 12, 1991
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otary's Signatur
On this 2nd day of June, in the year 1988, before me, Be linda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman,
personally known to me IVI plu,~d t6 ",e VII Lhe-b&eis of satisf-ae-rory-e,,4den<>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 Price Waterhouse Limited
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.
~ I~~/ ~ OFFICIAL SEAL
~\S,~d-fq, BEI.I~IDAKAY FRAY
Notary IS' Signat~r ,i'\'"'t>(NF r,jQ'IARY ,"UGUc' , C,\L!FORN'A
,..~~~ ORANGE COUNlY
'~J.i:-~,,"\'" My comm. expires NQV 12, 1991
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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 ....,.,. Flu,'eEl tQ Jl\Q ell ~"e ba€~..s-of saticfacwry e"idenffi to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the within instrument as the agent and aftorney 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.
M~ 1f7t?9 ~~/
Notary's Signature
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<'I\)P''',li''''''.~ BElINDA KAY FPAY
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~?1'1~/ ORANGE COUNTY
~ My comm. expires rlOv 12, 1991
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STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
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On this 2nd day of June, in the year 1988, b.efore me, Belinda Kay Fray the
undersigned Notary Public, in and for said State, personally appeared R. G. Heasman,
persoT!ally known to me '(or~nr.l.d ts--mp on thp h;:ac.:;g af ~a.L.i.~[Q.E:tgr:T eninpn('p) 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.
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Notary's Slgnature
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.(0~, OFFlCIAL SEAL
{;<"iS~"; BELINDA KAY FRAY
\ IGi:J?;:~:,:_:j~:-!,~. r.jOT/\RY PUBLIC ~ U,UFORNIA
, ~~"('~7' ORANGE COUNTY
t,#:i;'i3 My camm. expires rlOV 12, 1991