Subordination Agreement 2003-1279881Branch :OCO,User :3301 Station ID :OIUL
700 DOC # 2003-1279881
OCT 20. 2003 8:+00 AIM
RECORDING REQUESTED BY:
New Century Title Company - San Diego Title
(�( WHEN RECORDED MAIL TO:
-5P '54 "
'U ' , c,4
ESCROW NO: 10034035 DA
TITLE ORDER NO: 5033734
OFFICIAL RECORDS
Std! DIEGO MWY RECORDER'S OFFICE
GREGORY J. SMITH, COUNTY RECORDER
FEES: 19.00
SPACE ABOVE THIS LINE FOR RECORDER'S USE
APN: 314- 074 -15
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY
BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER
SECURITY INSTRUMENT.
THIS AGREEMENT, made this 18 day of September 2003, by
Helen Audrey Lynn, an unmarried woman
owner of the land hereinafter described and hereinafter referred to as "Owner," and City of Poway
Redevelopment Agency
present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as
"Beneficiary;"
WITNESSETH
THAT WHEREAS, Helen Audrey Lynn, an unmarried woman,
did execute a deed of trust, dated October 30, 2002, to Comprehensive Housing Services Inc., A California
Corporation
as trustee, covering:
Lot 364 of Poway Vally Unit No. 4, in the county of San Diego, State of California, According to Map thereof No.
4204, filed in the Offices of the County Recorder of San Diego County, June 3, 1959.
to secure a note in the sum of $10,000.00, dated October 30, 2002
in favor of City of Poway Redevelopment Agency
which deed of trust was recorded as Instrument No. 2002 - 1006822, on November 12, 2002, Official Records of
said county; and
WHEREAS, ,Jas mad, or Is about to execute, a deed of trust and note in the sum of $55,770.32
J.H'EREAS, d /`7"�7 in favor of First Future Credt Union
natter referred to as "Lender," payable with interest and upon the terms and conditions described therein,
h deed of trust is to be recorded concurrently herewith; and
It is a condition precedent to obtaining said loan that said deed of trust last above mentioned shall
unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and
superior to the lien or charge of the deed of trust first above mentioned; and
CLTA SUBORDINATION `A' INITIALS:
Sub A-217 (Rev. 4194) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) P"e No. 1 of r
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WHEREAS, lender is willing to make said loan provided the deed of trust securing the some is a lien or charge
upon the above described property prior and superior to the lien or charge of the deed of trust first above
mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien or charge of
the deed of trust first above mentioned to the lien or charge of the deed of trust in favor of Lender, and
WHEREAS, it Is to the mutual benefit of the parties hereto that lender make such loan to Owner; and
Beneficiary is willing that the deed of trust securing the same shall, when recorded, constitute a lien or charge
upon said land which is unconditionally prior and superior to the lien or charge of the deed of trust first above
mentioned.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable
consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and In order to induce
Lender to make the loan above referred tD, it is hereby declared, understood and agreed as fotkrws:
(1) That said deed of trust securing said note in favor of Lender, and any renewals or extensions
thereof, shall unconditionally be and remain at all times a hen or change on the property therein
described, prior and superior to the lien or charge of the deed of trust above mentioned.
(2) That Lender would not make its loan above described without this subordination agreement.
(3) That this agreement shall be the whole and only agreement with regard to the subordination of
the lien or charge of the deed of trust fast above mentioned to the lien or charge of the deed of
trust in favor of lender above referred to and shall supersede and canoe), but only insofar as
would affect the priority between the deeds of trust hereinbefore specifically described, any
prior agreement as to such subordination Including, but not limited, those provisions, If any,
contained in the deed of trust first above mentioned, which provide for the subordination of the
lien or charge thereof to another deed or deeds of trust or to another mortgage or mortgages.
Beneficiary declares, agrees and acknowledges that:
(a) He consents to and approves (1) all provisions of the note and deed of trust in favor of Lender
above referred to, and (u) all agreements, including but not limited to any loan or escrow
agreements, between Owner and lender for the disbursement of the proceeds of Lender's loan;
(b) Lender In making disbursements pursuant to any such agreement is under no obligation or duty
to, nor has Lender represented that it will, see to the application of such proceeds by the
person or persons to whom Lender disburses such proceeds and any application or use of such
proceeds for purposes other than those provided for In such agreement or agreements shall not
defeat the subordination herein made In whole or in part;
(c) He Intentionally and unconditionally waives, relinquishes and subordinates the hen or charge of
the deed of trust first above mentioned in favor of the limn or charge upon said land of the deed
of trust In favor of Lender above referred to and understands that In reliance upon, and in
consideration of, this waiver, relinquishment and subordination, specific loans and advances are
being and will be made and, as part and parcel thereof, specific monetary and other obligations
are being and will be entered Into which would not be made or entered into but for said
reliance upon this waiver, relinquishment and subordination; and
(d) An endorsement has been placed upon the note secured by the deed of trust first above
mentioned that said deed of trust has by this Instrument been subordinated to the lien or
charge of the deed of trust In favor of Lender above referred to.
C3.TA SUBORDINATION `A INITIAL&
Bub A -217 (Rev. 4104) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Pays NO. 2 or 3
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ESCROW NO: 10034035 DA
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NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN, A PORTION OF WHICH
MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT,
THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
City of Poway C IJAWWQ's j
By: `W�k(%AoN jM VMI#� r 2
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
STATE OF CALIFORNIA
COUNTY OF
ON befpfe me, personalty
appeared
personally known to me (or to me on the basis of satisfactory evidence) to be the persons) whose
name(s) is/are subsori the within Instrument and acknowledged to me that he/she/they executed the
same in his/her /their orized capacity(ies), and that by his /her /their signature(s) on the Instrument the
person(s), or the enti upon behalf of which the person(s) acted, executed the instrument.
Witness my han4,dnd official seal.
Signature
STATE OF CALIFORN
COUNTY OF 0 '5^L
ON S,) , - , 125 before me, I / k2-f - #i dl c- id - Llr'c :Sj=Mj _ personally
appeared
(or proved to me on the basis of satisfactory evidence) to be the persorft) whose
name(s) is /axe subscribed to the within instrument and acknowledged to me that �WsheJtheyr executed the
same in hia/her/their authorized capacity(ias), and that by *Wher/hheif signature(e) on the Instrument the
person(s), or the entity upon behalf of which the persons) acted, executed the instrument.
Witness my hand and official seal. ..�..,,
MAR11Atn •• i,.;,aari
` � �� a •� Curnnrrs+a„, a Stov2 l
Si nature .y Norury "vtru4 Cuatotrno
g son Dreyo County
My Comm. Expires Feb
CLTA SUBORDINATION W INITIALS:
Sub A -297 (Rev. W91) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Page No. 3 of 3
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703
. .... ... .... .... .
GOVERNMENT CODE 27361.7
Station ID :OIUL
I CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY
SEAL ON THE DOCUUMgT TO WHICH THIS STATENUR4T IS
ATTACHED READS AS FOLLOWS:
Name ofthe • y Gl
Notscy�
Number: �D Date OarmmissiaC► B f O?
County whoa Bond is Filed:
ManuhcUm:d Vendor Numbo: /(J M
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CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT
State of California
County of San, ss.
On before mei"t 1 1 % X\ec „
D m - ` ` ` Name and nos of oBiw (ca.. - Jane Doe. Note 9
personally appeared t v V ,
Nine($) of si q a)
rsonally known to me
proved to me on the basis of satisfactory
evidence
to be the person(s) whose name(s) islare
subscribed to the within instrument and
.��a•+•s acknowledged to me that he /she/they executed
MCHBAEPAUUNEHETTf3tGOTr the same in his /her /their authorized
Commission M 1298219 capacity(l and that by his/her/their
Notory Public - Colifomio
Son Diego County signature(s) on the instrument the person(s), or
tKyCemn.0WkasMor23,2M5 the entity upon behalf of which the person(s)
acted, executed the instrument.
�V1jTN (ESS my hand.,and official sea
Race Notay seat Above - apnotut'e of Watery Pubac V
OPTIONAL
Though the information below is not required by law, it may prove valuable to persons rwjdng on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of Attached Document
Title or Type of Document.
Document Date: Number of Pages:
Signer(s) Other Than Named Above:
Capacity(les) Claimed by Signer
Signer's Name:
❑ Individual
TOP Of thumb trero
❑ Corporate Officer — Title(s):
❑ Partner — O Limited ❑ General
O Attorney in Fact
0 Trustee
❑ Guardian or Conservator
D Other:
Signer Is Representing:
01999 k*WW Nwaty Anodavan - 93M Do Soto Awl. P.O. Box 242 - chauwoM. CA,1373.242 - www.na9weth oury or9 Prod, 140. 5007 powder Car Tall-Roo 14KO-876 W
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