Subordination Agreement 1988-296324
.
.
-" 1150
5532-5
. 8 8 29,6 324
.--- --'1
HSCORDr:;O IN .
#~.' -'i','~ .... ~" "l~' C'
In.r J'....,t. :,'l t;r".,)", '
. o~ :::-fd~1illrG;j COUNTY.,CA
(!)
,
,
.
"
"
1988 JUN 2! MHO: 00
RECORDING REQU~STED BY:
THE CITY OF PO'"AY ,
I ..yErud... LYL!:;" i
~LlNr'( P.ECOHOEU
WREN RECORDED :''''11. TO:
THE CITY OF PO~AY
P.O. BOX.,
Po\iAY. CALIFOR!,IA
92064
NO FEE
TrlIS SPACE FOR RECORDERS USE
SUBORDINATION AGRE~NT
FOR VALUE REC~I\:~D, t...oe undersi:gned, as Beneficiary under a Deed of Trust dated
31 July 1986 , reco~ded.in the Office of the Cour,ty Recorder of Sa:>. Diego
Cour.:y 16 Seotember 1'986 , " File No. R6-407B4R , and as O\''ner and holder of the
obligations ~he:'eby sec.'v:' ed' do~s. ~ereby make su~.ject '.~Dd .su.b6rdina:e the .liens therecf
to the ~asernent granted by CF POWAY LTD., a Cal1fornla 11mlted oarcnershlO
to TEE CIn OF iOi'l'AY, it b"eing' uriderstood and ag:{eed' that: foreclcst:.re of said Deed of
Trt:.st s~all not ar:ect, defeat or render invalid any rights u~cer and by virtue of
said easet:lent, -a..-:.d said easeme.r:.t shall be paramount; and supe.rior to the rights of
any pu:-chaser ll~der a forec~osur~ of said Deed of- Trest.
Said easemen: ,",as recorded G, - Z I-g g'
the real property described in said. Deed of
, File No. 8i.- z Cj Ed 23
Trusc.
, aod affects
The undersigr:ed 3er.eiiciary of. said Deed of Trust declares and acJr.no'.'ledges that it
hereby :..r.itentior:all)" .\.:a:..'ve's, relinquishes, and subordinates the priori ties and
s~periorities of the lien and charge of said Deed of Truit tipon the land described
therein in favor of sa~d easement,) and that it \1ncer-s'tands that in reliance upon a:1d
in. consicerat:..o~ of this '~a~ver, relinquishr.ent, and subo:-cination specific ~onetary
',' and other obligatior:s: ;.-ill be entered into by Third Parties ",hich ",ould not be made
or en;te.re'd' intD but. for, sai."d reliance and the execution. by Beneficiary of 'this \o,'aiver,
relinquishment, and subcrd~~ation.
. ,
.-
,,:f' J
:>....;'1
c
Da t ed,:
BENEFICIARY: SECUR ITY PACIF I C NATIONAL
~ANK
Rill No.
Exc. No.
Project:
By:
If,
By:
NOTE: ALL SIG~ATURES MUST BE AC~~Oh~EDGED
NOTARIES: Use proper fOrM attached
or staple appropriate
forlllthere to,
~
Sewer and Drainage Easements in Lots 3 & 4
.
~
CORPORATE ACKNOWLEDGMENT
Stateot
CALIFORNIA';
} 55.
~.:..
~ /!"
County of
LOS ANGSLES
'.t..
"-
7120122
,.
.
v 1151
NO. 202
On this the 26th day of MAY
LYNESE S. WILLIAMS
the undersigned Notary Public, personally appeared
RICHARD D. NEILSON AND THEODORE M. SNYDER
19 88 , before me, .
00 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
VICE PRESIDENTS or on behalf of the corporation therein
named, and acknowledged to me that the corporation executed it.
WITNE my hand and "fficial se "
U 1M
Nota y's Signature
NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd. . p.o. Box 4625 . Woodland Hills, CA 913654625