Subordination Agreement 1990-171172
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'RECORE5iNG RE'dwESTED BY:
Clrt ,OF' P0WAY
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WHEN RE;CORDED MAIL TO:
CITY OF POWAY
P,O, Box 789,
Poway, CA 92064
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SUBORDINATION AGREEMENT
:FOR VAI,.UE:RECEIV!OD, ttleq!1dersigned, as Beneficia.ry'undera Deed of Trust dated
April IS. 1988 , recorded in the Office onhe County Recorder olSan Diego County
,MClY Z. 1 gRR ' , file No, " ,88-20:1533 ' ' ; and 'as, owner and .,holder"of ,the
obligations'therebyseciJred'does lierebyrh'ake sut5jecl!~1I1d sUbordinate the'liens'thereoflo:.the
easement granted by McMILLIN EQl.JITYPARTNERS.II,aGalifornia' general partnersnip,to
the CITY OF POW A Y, it being understood and agreed that foreclosure of said; Deed of Tr'list
shall not affect, defeat'or :r,end~r invalid, any rights under and by virtue of said easement, and
said easement shall bep'araiT1burit arid superior to the rights of any purch'aser Linder a
foreclosure ,of said Deed of :Trus(
:Said easement'Was recorded, ..3-.;;2/-90 ,File No, c;c; - J5'o/~,., .- and
affects .ihe real propertY desCribed in said Deed of Trust.
The undersigned Beneficiary, of said Deed of Trust,declaresandacknowledges that it
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hereby, intentionally waives, 'reliriquishes. and subordinates the priorities, and superiorities of the
lien and charge of said Deed of Trust upon the land described therein in favor of. said
easement, and that it understands ihat ,in reliance, upon and .ihc:onsideration of this 'waiver,
relinquishment, and subordinationspecifbmdnetary'and other"obligatioriswill,be entered into
by Third Parties wh'ich.woulct 'not, be, made or entered iriio but, for said' reliance and'the
exe'cution by Beneficiary ,of this waiver, relimj'uishiT1enl, and subordinatiori,
Dated:
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F!IVYNo, ,
Exc, No,
Proje(;!:
'P[EME.SI,GNi AND ACKNOWLEDGE
THISINSTRI:JMENT 'BEFORE A
NOJABY PUBLIC '
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"Beneficiary" GREAT AMERICAN, BANK, SSB
FORMERLY KNGIN AS
,GREATI AMERICAN FIRST, SAVINGS BANI,
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S2.E
STAIE OF CALIFORNIA SAN DIEGO
COliN-TV OF
FEBRUARY 2(1.._19.9.0
KERSTIN RUMAR
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155.
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, before me. the undersigned, a Notary Publle in and for
, 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,eslden! and SR. VICE PRES.sg,.e~ behalf of----.G.REAT ANE.RlCJ\N
said State, personally appeared
DIANNE A. LOWE
BSNK, 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 official seal.
Slgna!u'e ~ 11C~ / LJtttk:l1.t?oi./
and
(This area for official notarial seal)