Subordination Agreement 1990-171175.
RECORDINGl REqUESTED BY:
CITY' OF' POWAY
WHEN RECORDED' MAIL'TO:
CITY OF POWA Y
P,O, Box 789
Poway,CA '92064
15,76
016 \71\75
9 0 ' 7 "1.7"5
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Above Sp'aceforRecorder's Use Only
SOBORDINATIONAGREEMENT
FORVALUE RECEIVED, the undersigned, as Beneficiary under'a Deed of Trust dated
April 15, 1988 , recorded in th(l Office oithe, CO)Jnty Recorder of San Diego county
, 'May 2, 1988 . ,:FHe No, 88-'::>01'>11. , ".,,'and 'as oWher,8fldholder of the
obligations thereby:secured'dO:e~ hereby,make subj\lct;apdsu,bordin~te the:liens thereof)othe,
easement granted by'McMILLIN EQUITY PARTNERS II, iaCaliforniar general partnerstiip'"to
the CITY OF POWAY, it beihg understood and agreed thcit'foreclbsur,eof said I),e,ed of Trust
shall not affect, def~at or'rendei invalid iinyrights under,andbV virtue,bf'Said easement, and
said easement shaH be paramouniand superior to the rigllts of any purchaser under a
foreclosure of said Deed OfTrlist
Said easementw8sreCbraed..3-~/-q-O ,FHe;No, 9'CJ-JS-o/~B, and
affects ttie real property described in said Deed of Trusf
The undersigned Benefici6ry of ,said Deed of Trustdecl(lres and 'acknowledges'that it
hereby ihtentioriallyWailjes~;relinquishes"and subordinates the priorities;ahd superiorities onhe
lien and charge of said Deed.of Trust upon the land described therein in favor of said,
easement, and that it: uhderstands that in reliance up'on ,and in consideration of this Waiver,
relinquishment, andsubor,dination specific monetary and other obligations will be. entered into
by Third Parties Which ",/'oUld,i1otbe made or entered, into but for said reliance and the
execution by Beneficiaryoi this waiver, relinquishment" and subordination,
,,.
Dated:
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PLEASE ~IGN',AND .ACK~OWLEDGE
THIS INSTRUMENrBEFORE A
NOTARY PUBLIC
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"BenefiCiary" GREAT NIERICAN BANK, SSB
FORI-1ERLY KNGWN AS
GREAT ,AI'1ERICAN FIRST SAVINGS BANK
A ,CAL~FORN!rACORPORATIdN
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155.
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On
1577
1990 ,before me, the undersigned, a Notary Publi~ in and for
KERSTIN RUMAR
and
said State, personally appeared
~IANNE A. LO\<JE
,personally known to me (or proved to me on the
basis of satisfactory evidence) to be the persons who executed. the within instrument as
ASST. VICE P'esidentand SR, VICE PRES.~y\Mbehalfot
_~Alli<..._SSB
the corporation therein named, and acknowledged to me that
such corporation executed the within instrument pursuant to its
by-laws or a resolution of its board of directors.
WITNESS my hand and oHicial seal.
Signatu,e I2CLNt~ l
N
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GREAT N-ffiRICAN
(This area for official notarial seal)