Subordination Agreement 1988-296320
;
r;;:"."':'''':'}'
<
.
~\J'll05
.8 29 6302.~_,
r--' rd- ('.'iJ~~nr~[j, H~ \
_ ."~-':'_'.;,, .,,;' ."q:~;H'
1 Un' .!.A,,_~~I;_,~Jl~l.'-;.l_ .
1 ",.' i. !. ~! ,~'I~"i:(I n1Ufi! ';. L'i\ ,
1-'';..:" ..1"-' "',' :. ,
@)
. .
.
,"
",,~
"
"
\988 JUM 2\ AM 10: GO
RECORD1NG REQU!:STEDBi",:
THE, crTY OF POriAY
'jfh,:"; L _ L\~-E I
\ ,..cn;'l~I;'1 ;~:;-GORDEH ,
L..::'-'" . . ~ -~~
IffiENRECORDED MAIL TO :'
T~E CIIT OF PO;"AY,
P"O'.BOX
POi;AY, CAUFOR.''HA
92064
'!NO FEf
THIS SPACE FOR-RECORDERS USE
SU30P~INATION AG?L'~LNT
FOR . VALUE RE~EI\'ED, the u~nc"~r-5'igned" .asBeneficiary u:1,c.:er a D~ed of T~ust q,2ted
19 De'cember 1985 , recorced in the, Office of i:heCounty Re'corder of Sa:J., Diego
Coun:y 27 December 1'985 " F'i,l.e No. 85-488373 , ,and as o'~"TIer andho!der 'cf ,the
obliga"tiDt~'s ',ther.,eD.y s-ec-..:r-.,ed _~p~~s h~r~by take subj~e_c~t -.-.a;r:;si: ~1l~.9rci'i'n2:te the J~e::s the:-.ecf-
to the !:aser;:eni: ,grantedcy. GF'POWAY,. LTD.. a Californ,i'a l'imited oartnershib
to .TE=: CITY 'OF 'PO"l'I1AY,. "i,t- being: 'unders;tood 2;1d agreed ";)i2t to=_ecics,~re o.f ~aid' Deed C?!'
r"r\';.$'t shall not ,a.f:ect" ;ce'5eat,' or .render i:.!:valid. ani "iigr:ts \inder and by yir,tG-e o'f
$.2;d e$:seit€:1t, ~-:d s<;;i:~d"; '~~'$:ertent shall be para:Jount and' su?ericr to the r:igh'ts of
a-ny.-pt.:rchas.er uneer 'a, fore-c'1:os1..:r,~ 'cf sai-d Deed' o~: 1rt;st-,.
Saiod ease:::er.t ,"'as recorded (0 - 2..1 - 9'8 ,File
t:.lle real property cescribed ion sai-d Deed of Trust.
" Z3 8,- 23 &> 3 I 8 ' 'd
L10. ' >> an
af.fet ts
.'T-ne ~l..:;;ce=s:..g~ed Ee::.efici.:.ry of, s~~id D"eed of Trust cec':l:a::es and aC~:.!'lc~~:'.:e_c.ges that it:
!1e;:-,~:y :.nt€:1t;oi':.a11y' ......aive_s" ;relJ..Dquishes, and s'..1bo:-.d'ina,tes the priori'ties and
,superioorit~es of the lien and'charge of said Deed of I"ust upon the !and described
ithereinitl: ,fa\.'or of said e'as~men't~, -and tha,t it uncle_rs.tands ',tha,~ iI). ,re'lL~_nce upo~ a:-i9.
:in~ 'ccnsicera tic;, of this ....afver ,,'relinqui'sruneht\ anci.': "s.1,Jb.ordin_?t-:t'_on~ !sp'ec:Lfic~ :o-one t.a';)"
ana o'therobliga'tions' ...ill be entered into by Thi'rd,Partioes "'hi'chwould iiot,be fuade
or entered i'nto but fo;: said ,r,ellance and, ,the' execuci:on by 5en'efi-c.iary .of this \.'a'i\'ef,
reli';jq...dshIT.~nt) aDd; subordin'atfon..
Date,{ :
RN No.
'Exc:., No.
'P:rojec t:
BENEFICIARY, CANAD IAN COMMERC IAL BANK
By,:
~.~~~~
"
,By:
'NOTE:' ALL ,S'!'CSATURES ,riUST BE ACK"Wi.i.EDCED
NOt/J(;l'~S : Use proper fo;;'" ~t~~c'heg
or ,s.tap'J:e,appr'opria'te
for'", thereto'.
Parcels 1, 3'"8, lD"15, 1'9, 20, 23-26 & 29-34
of P.U.E. P~at
'-
} '- -,'
.
. v 11 06
.
SUBORD.INATION 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 Piice Waterhouse Limited,
as liquidator of the estate and effects
of Canadian Commercial Bank
By:
1f?4 4e-~.
-
-
--...
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:
~4~
..."
R. G. Heasman
Its: President
Bank of Canada
By PW Liquidators. Inc., as agent and
attorney in fact
By:
Its: President
K?4&_~.
~
,
PW Liquidators, Inc.
By:
~?-
R. G. Heasman
President
-
-...............
Its:
/" ~~,-, ~.
. .
- '"
.
. \I 11 07
.
STATE ,OF CALIFORNIA)
) ss.,
COUN,TY 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 ~!uv~4 to ~o nN tHe Basic gf ~atisfRr~~~~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 PWLiquidators, Inc. thereto as
principal and PW Liquidators, Inc. as agent and attorney in fact.
~(~~~
Notary's Signatur ,
OFFICIAL SEAL
BElI~~DA KAY FRAY
r.jOTI-ifN PUGLlC - C~\LlF6R'NIA
ORANGE COUNIY
My camm. expires NOV 12. 1991
STATE OF CALIFORNIA)
) ss.
COUNTY OF ORANGE )
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, pers'onally appeared R. G. Heasman.
personally known to me (01 (ilO\l€a ta lilt: au tLe: Ld:sTs of 3.....t.ib[cLcLcrry-evid,eRee-) 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.
/2;-fL~ ~~/I
Notary's Signatur
.~;.~
.:II' ~ Hi~'\.::.
,'~~;;, ::iJ~'xJ;:;,
. ,.,flt"
, 7P\ .
,.~~.
,,,~;~~,,,"
OFFICIAL SEAL
BELINDA KAY FRAY
r\!OTARY PUGLlC -'CAt1FORNIA
ORANGE COUNTY
My camm. e;:rires rwv 12, .1991
~----------
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 ~d- to IDP on-t-he-bas-is-of-s'ati:s'f-tlc,t13.r-y-evidence-)' to be
the President of PW Liquidators, Inc., a corporation, the corporation subscribed to
the wi thin instrument as the agent and attorney in fact of Bank of Canada and
acknowledged to me that he subscribes the name of PW Liquidators, Inc. thereto as
pr;,fncipal and PW Liquidators, Inc. as agent and attorney in fact.
12 Il' 11
I~ ~2<~
Notary's Signature
~"C'0"
{)Y,;~, ..
l~t;;,c~,\
".:1m. "(~h
" ,~ ,~~:;~,~/'
OFF[Gl,,\L SEAL
, BElI'NOA KAY FRAY
rmTARYPU!3UC - CALIfORNIA
ORANGE COUNTY
r~y comm: expire;;; NOV 12, 1991
~
!'-';"..,-;,.....
. .
.
- \/11 0 8
.
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 {~, p.uved La me g~ >he ba~iG sf satiofactoTy-ev~denceJ 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.
~t~
Notary" s Signa~ .
OFFICIAL. SEA L
BELlNOA KAY FR.",Y
IIOTi'.RY F'UBlIC -:- c'~.UFOr~[\W\
ORANGE COUNTY
My comm. expires NQV 12, 1991
-~-...-.....---....-......