Subordination Agreement 1988-296327
~,;.';
"
.
.
, v
1161
.
553~~~
2 9 63'2 7
@)
, .
;~
'.
r- '"'''''''''''''' --~'I
I ..,."v..rj,.u,1r4
......,., -" -.' ......_~ ~ "
.,f:1" I,ll !'\,t "-"'0'''1''1."
.' ~ ; ,.~" .. ,_.,.u l..J~}i
i l'~: '-~'!~-,H !);,::f't' f'f'!~J I""" ,."1\.'
l~' ". .". , "~. . k,"JUj', '. !--,I>.
,
"
jl
"
1988 JUN 2! AM 10: 00
RECORDING' REQUE~TED Bf:
TH..E CITY, ,OF ?O',iAY
Li\!fil/i- L.LYLE 1
CO!'WV ';'1'''(1''"'[1'' I
...-u.~! . 1:.. '_'~HL-:.2......J
WREN REC'ORDED MAIL TO:
THE CITY OF ?O"AY
P.O. ,BOX
POliAY, CALIFORNIA
NO FEE
92064
TIllS 'SpACE FOR RECORDERS USE
SUBORDI~ATION AG?LEMENT
FORV.",LUE' RECEIVED, che unc'e'r's:LgneCl" as ,BeneficiaryuIld~r 2 ,Deed of Trusc daced
31 July 1986 , recorded ,in the offic'e ofche County 'Reco:::der of S,an Diego
,Co1Jnty' 16 Seotember 1:986' ,File ~O" 86-407B48 , and as O'-"!1er arid holder, of che
obligations the:::ebysecu:::,ed. db'e.s '~e:::eb)' ",ake s!lb)eSL~Ild,:s~bordinate the,Her.s thereof
to the Easement granted by CF POWAY LTD.. a Ca11forn'Ja .llmlted partnersh,p
to THE CITY OF ji:)'~."Y, it b€ir;:i;uIl,derstciod and 'agreed that. 'foreclo;;ure of said Deed of
Ir,1;s.t ~s1:l,a'11 not affect, defea't or rend.er :...n,~'a-1.i:d' any. r':i}gpts under and by virtue of
said 'e_as-ei:ieDt, and_~ sai'g E;'~,"S}'~r.n.~~;"' ~haoll be paramount: and superior to the' rights of
..acy pu:chas'er 'u:1cer. a f.or'eC'io,s.ui:'e .of ,sai:d Deed 'of. Trust,.
J&--l9 to 3 2-&
No. , and affects -
Said easement ..-as, recorded 0> ~2/- f( f , File
the, real property described in, s~id Deed of Trust.
'Theunce:'signed Beneficiary or,;,;,id Deed, of Tr,ust dectares and acbowlecges that it
'l1.ereby in :~,nt-iona1.1y ~'a,iveS'tre',~-i':oquishe~, and 'subord"ina tes the priorities and
superior~ties of chelie.nand charge of said Deed ,ofT:::ust upon the land described
the:e.:..n i"n 'fitvor of said ea'se'merit) and ,that it -q.n~er5,t:_~n9s th.at. in, re,l-ianc;e upon, and
in~ cO:1si'cerat::on of this, .,;ai~'er'" r,el:inquishrlerit:, and subo-rdin.'atil?rl sp-e'ci:f-i'c moneta:y
and, ,ocher' olll'igations ",ill be entered into by Third Patties ",hich ,""ou1d not ,be =de
o"r' ,'-~n',t~Fed, iint9' but for said reli'ance and the execution by B,eneficiary Q'f' this ~'ai\rer.,
(~~j:1qu~~~~~n~, ~nd su~q;pi~~t~on.
"
"
''-;"'"
~'
patec':.
R/,l;, 1\0,.,
'EXc. ',No.
ProJec't,:
BENEFICIARY: SECURITY PAG'IFIC NATIONAL
~ANK
.;1.
By:, '
~,
By:
'j
NOTE: ALLSIC);ATURES MUST BE 'ACK,.'Wl.'LEDGED
NOTAA.ris:, Use proper fono attached
or 'staple appropriate
form thereto.
. ofj'site Drainag~ Easement ,So. of South' powa,y P,ar,kway
.
-'
___,....rlPORATE ACKNOWLEDGMENT
State of CALIFORNIA
:'\
",
County of LOS ANGELES
- ,
1120 122
\ 55.
OFFICIAL SEAL
lYNESE S. WilLIAMS
NOTARY PUBLlC,CALlFORNIA
LOS ANGELES COUNTY
My Commission f:l;pires May 29, 1990
.
-,
-
NO. 202
~ 1162
On this the 26th- day of .M~ V 198.B-, before me,
LYNESE S. WILLIAMS
the undersigned Notary Public. personally appeared
RICHARD D. NEILSON AND THEODORE M. SNYDER
I>! personally known to me
o proved to me on the basis of satistactory evidence
to be the person(s) who executed the within instrument as
VICE PRESIDENTS or on behalf ot the corporation therein
named, and acknowledged to me that the corporation executed it,
WITNESS Y hand and offl iai seal.
NATIONAL NOTARY ASSOCIATION. 23012 Veo,",' 81,d, . P,O 80,4625 . Woodl,,,d Hill> CA 91365,4625