Subordination Agreement 1977-044289
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AFTER RECORDING
R.RN TO:
& ASSOC.
456
A",/rAliE ro:'Z.(~)4428S
., BOOK 13"17
RECORDED REDUEST Of
t9LE INSURANCE AND TRUST COMPANY
/FEB 4 1116 A~ '1'1
WOODSIDE/KUBOTA
P.O. BOX 1095
CARLSBAU, CALIF. 92008
/ /0201'1;L- /
~I'ede...-ol S+\". VSUBORDINATION AGREEMENT
11rl'ICIAI. RECORD S
SAN CIr.GJ COU~ll.LALlF'NO FEE
Ii/Rd.' F UL~OH
l;rr.I)RDER
FOR VALUE RECEIVED, the undersigned, as Beneficiary under
the Deed of Trust described in Paragraph II, and as the owner and
holder of the obligations thereby secured does hereby make subject
and subordinate the liens thereof to the easement hereinafter
described in Paragraph III, it being understood and agreed that
foreclosure of said Deed of Trust shall not affect, defeat or render
invalid any rights under and by virtue of said easement, and said
easement shall be paramount and superior to the rights of any
purchaser under any foreclosure of said Deed of Trust.
Beneficiary declares and acknbwledges that-it hereby
intentionally waives, relinquishes and subordinates the priorities
and superiorities of the lien and charge of the Deed of Trust
described in Paragraph II upon the land described therein in favor
of the easement described in Paragraph III to which the Deed of
Trust described in Paragraph II is hereby subject and subordinate
as above provided; and that it understands that in reliance upon
and in consideration of this waiver, relinquishment and subordination
specific monetary and other obligations will be entered into by
Third Parties which would not be made or entered into but for said
reliance and the execution by Beneficiary of this waiver, relinquish-
ment and subordination.
II.
A Deed of Trust dated September 30, 1976 in the amount of
$846,000.00, executed by Country Squire Homes, a joint venture composed
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of Balgarve corporation, a Delaware corporation, and Kimber Company,
a California corporation, joint venturers, as Trustor, Home Federal
Savings and Loan Association of San Diego, a corporation, as Trustee,
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NO CHARGE ON THIS DOCUMENT
FOR THE BENEFIT OF
POMERADO COUNTY WATER DISTRICT
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Subordination Agreement
Page -2-
45'1
in favor of Home Federal Savings and Loan Association of San Diego,
a corporation, as Beneficiary, was recorded October 12, 1976, in the
office of the County Recorder of San Diego County as File No. 76-333679.
I I J.
An easement for sewer lines and appurtenances thereto over,
under and across that portion of Lot 2, Section 35 Township 13 South,
Range 2 West, San Bernardino Base and Meridian, in the County of San
Diego, State of California, according to United States Government
Survey approved April 22, 1876, described as follows: Be9inning at
the northeast corner of said Lot 2, thence along the northerly line
of said lot, north 88"53'13" West 330.00 feet, thence south 00"13'32"
west parallel with the east line of sairl Lot 2, a distance of 12.00
feet to the true point of beginning, thence continuing south 00"13'32"
west 13.53 feet, thence south 41"52'32" west 146.51 feet to a point
on the arc of a 48 foot radius curve concave southwesterly, a radial
to said point bears north 40"04'12" east, thence northwesterly along
the arc of said curve through a central angle of 12"03'59" a distance
of 10.11 feet, thence north 41"52'32" east 157.13 feet, thence south
88"53'13" east parallel with the northerly line of said lot 2, a dis-
tance of 1,33 feet to the true point of beginning.
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DATED:
hg
-1 /977
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HOME FEDERAL SAVINGS AND LOAN
ASSOCIATION OF SAN DIEGO, a
corporation
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(Beneficiary)
(for continuation of siqnatures
see Page 3)
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STATE OF CALlFOl{iI'[,\
(nUiI'T\' m'__San_D~i~e-'Jo
February 4, 1977
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before me,
On
tht: Ilnder~j!..:ne(L a ;\'otary Public in and for :,.;lid COUI11\" and Slale.
jwrsollally appeared Kenneth c. Bovard
known to lIle to be the C ounse:p.-. ;11\(1
Peter H. pickslav known to me to be
Counsel
C" . of Ih,: rorrloTalioll that C.\f:"lltcd the
within III."trurnent. knllwn tl~ llIe to be the per:,(ln~ who eXI:culed tlw
within l11~trlJrnt'l1t on lli:half of the l'oTporatioll therein named. an,l
:1<'kl1()wll:d~ed In Il1c~ that sllch corporatioll ex(',:lllt>d tIll'" within
in~trllrnent pllr,,\l,U1t 10 it'- hy-law,: ur a rF~"I\ltion of it" board of
directors.
s;gna"",L1f~ dr.l
, Elnerita Lafon
Kame (Typed or Printed)
l\otary Public in and for said County and State
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FOR NOTARY SEAL OR STAMP
1f'JV'.(i'^~"{(;"':"'...o'V"!.'
"-"", EMERITA LAFON
-0 . NOTARY PUBLIC, Ci<LIFORNIA
~ Principal Office, San Diogo Co_ Calif.
., ~ My CommIssion Exp. Oct. 24. 1980
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Subordination Agreement
Page -3-
(continuation)
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COUNTRY SQUIRE HOMES, a joint venture
composed of Balgarve corporation,
a Delaware corporation, and Kimber
company, a California corporation.
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BY/:jZP ~~7L
(Owner)
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~;'.i'i\'L'E OF
Cal ifornia
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CUC!:;'j'y 0:' San Diego
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o~ tillS 1,th dnj' of FQ1;-rUg'j:"
o it~Il~~d.) 2. Not.;:.!ry Puulic in Pond 01'
appce"-reJ Glenn P. Napierskie~ 11
tile Prcsiient, a~d
l:.rl:)',:n to rr:.e to be the Secretcl.ry of
Kimber Company , the corporc.tlon th.:lt executed. the Hi thin ins trlL-nen t
an:...l l:!:Oirn to nc to. be the pcrson_ uho executed th~ ~{i t.hi n ins t t'LL71ent
O~l beh;:Llf of saitl corporat.ion and u.c~:.noiTledge(l to IT~12 th8.t S\.lCll corpor-
ation ex.ecuted. tile wi thin instrum..~:n t. pursua.~t to its By-L::l.wS o:~: a
Hesolution of its ll8?..:cd of Directors; s2.id corporation beinG l:no~;rl to
r.~':: to ue of the joint venturers of' Co'un'trv Squire Homes
, a joint venture) the joint vcntuxe tl1.:1t (':.-:ecuted
the \fithin instrur:~er:t) and 2..ct:!lo1-ilcrlgcd to me that .such corporn.tion
execut.ed. t.he S[l.me inJividl;o.lly anll as such joint ve.nt.urer and Lr"'..Q..t.
such joint venture executed th8' SD:ne.
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SUltl County
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