Subordination Agreement 1988-296319
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:THE CITY, OF POWAY
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RECORD INGREQU:::STED BY:
WREN RECORDED )1AIL TO:
THE CITY OF POWAY
p.ci. BOX
POI,AY, CALIFORNIA
92064
NO FEE
THIS SPACE FOR RECORDERS ,USE
SUBORDINATION AGREEMENT
fOR :VALUE RECEIVED, the undersigned, as Beneficiary under a Deed of Trust dated
<n July 1986 . . recorded in tl)e Ofifceof the County Recorder of San Diego
Coun!:y 16 SeDtember1986 . ,FileNo,. 86-407848: '; an~ as owner and holder ,of the
obligacions t'hereby secu:red. does ;hereby make sub.ject.and .s~bordinate t.~e.liens thereof
to the Easement granted by Cf'. POWAY LTD., a Ca11forn,la 11mlted partnershlp
to' ,THE CITY OF POWAY, it b'eing understood andagieed,thac fOreclosure, of said Deed of
Trust shall not affect, dHeat or render inyalid any rights under and by virtue of
said, ,easement, aIld said easem'encshal'l be paramount, 'and superior to the rights of
any ,purchaser under a 'foreclosure of said Deed of Trust'.,
Said' easement 'was recorded' C:v.~ z./-9;;S. File' .No.,
the real property described in saxd 'Deed of Trust.
'06-' Z9~3/6
, and affects'
The undersigned Beneficiary of said. Deed of ' Trust declares and acknowl'e'dge,s that it
';hereby intent-ionall)<. "o.:aive."s-" r.e>l"iDqui~he~s;, ,a~'d sUD~))';dinates, 'the priorities, and
superiorities of the lien ,and charge ,of said Deed, of, 'Tr,ust"upon the land described
therein, 'in favor of said easement. and that it onde'tstands: that in reli.a,ncei upon and
ine consideration of this waive,. reJ,iT)quishment, and subordination specific monetary
a<na other obligations, will j,e,entered 'into, by Third P,ar,ties which would not b'e made
or en'rered into but for saia relianc'e and the execution by Beneficiary of this waiver.
,relTnquishrnen t, and, subordinatiO"h.
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'D'ated:
BENEFICIARY: SECURITY PACIFIC NATIONAL
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'Exc., No.
Project:
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NOTE:
,ALL, SIG~ATURESiHUSt,BE'ACKNOWLEDGED
o. NOTARIES': 'U~fe p-rop-er ;form', attached
or. staple,a.ppropri,!-,te
fprm thereto. '
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Parcels 1., 3-8, l,O-15', 19. 20, 23"26
of P,;U. E. P1 at
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CORPOI'IATE ACKNOWLEDGMENT
State of CALIFORNIA
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County of LOS ANGELES
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OFFICIAL SEAL
lYNESE S, WilLIAMS
NOTARY PUBLlC,CALlFORNIA
LOS ANGELES COUmy
My Commission Expires May 29 1990
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On this the --2-- day of
19-88-, before me,
MfiY
LYNESE S. WILLIAMS
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the undersigned Notary Public, personally appeared
RICHARD D. NEILSON AND THEODORE M. SNYDER
fi 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
\TTr~ PRRC;TDRNTC; or on behalf of the corporation therein
named. and acknowledged to me that the corporation executed it.
WITN E my hand and official seal.
NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd. . P.O_ Box 4625 . Woodland Hills, CA 91365-4625