Subordination Agreement 2012-0000020'i
RECORDING REQUESTED BY:
Fidelity National Title Coo-mpany
Escrow No 4325299 -TS
Title Order No 06177274
When Recorded Mail Document To:
City Clerk
City of Poway
P O. Box 789
Poway, Ca 92074
NOTICE
17
DOC # 2072- 0000020
JAN 03, 2012 800 AM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
Ernest J Dronenburg, Jr , COUNTY RECORDER
FEES 39.00
PAGES: 9
I IIIIII illll �IIII VIII I�III VIII VIII �IIII �IIII I�III VIII �IIII IlIII Iflll �IIII IIII III
SUBORDINATION AGREEMENT
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 December 21, 2011, by Brennan Family Trust, Donald A. Brennan and-Anna C.-Brennan
owner of the land hereinafter described and hereinafter referred to as "Owner," and City of Poway, a. Municipal
Corporation of the State of, California
present owner and holder of Lien Agreement for Public Improvements first hereinafter described and hereinafter
referred- to as "Beneficiary ",
WITNESSETH
THAT WHEREAS, Edwin A. Andress, Trustee of the Andress Family Trust Agreement dated April 25, 1983, did
execute Lien - Agreement for Public Improvements, dated July 29, 2005, to City of Poway, a Municipal Coporation
of- the State of California, as trustee, covering
Lot 88 of Valle Verde Estates Unit No. 3, in the City of Poway, County of San Diego, State of California, according
to Map thereof No. 4933, filed in the Office of the County Recorder of San Diego, March 21, 1962
to secure a lien agreement in the sum of $ 28,914.00, dated July 29, 2005, in favor of City of Poway, a Municipal
Corporation of the State of California, which Lien Agreement for Public Improvements was recorded as instrument
no 2005 - 0.685888, on August 40, 2005 and modified on August 14, 2009 in favor of the City of Poway, a
Municipal Corporation , which. said Subordination. Agreement was recorded on August 28, 2009 as instrument no
2009 - 0484085 Official Records of said county, and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $300,000.00
dated 12 -21 -1.eel 1 , in favor of Steward Investrnents,lnc„ hereinafter referred to as
"Lender," payable with interest and upon the terms and conditions described therein, which deed of trust is to be
recorded concurrently herewith, and- I
CLTA SUBORDINATION "A" INITIALS
FD -46A (Rev 12/07) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Page No 1 of 3
(subora wpd) (12 -07)
APN ,275 - 380 -15 -00 1, 74
WHEREAS, it is a condition precedent to obtaining said loan that said deed. of trust last above mentioned shall
unconditionally b'e ,and remain at all times a lien or charge upon the land hereiribefor.e described, prior and superior
to the lien or�,charge .of the Lien Agreement for Public .lmor6vements`fir.st above mentioned; and
WHEREAS; lender is, willing to'Make said loan provided the deed of trust,securing the same is 'a lien or charge upon
the above described property prior and superior to the -.lien or charge of the Lion. Age ement for Public Improvements
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- Ilea 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.'shalf, when recorded, constitute alien or charge upon said Land
which is unconditionally prior and superior to the lien or charge of� -the Lien Agreement for Public Improvements
first above mentioned
NOW, THEREFORE, in consideration of the mutual benefits accruing 'to the orties hereto and other valuable
consideration, the, receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce
Lender Ito make the loan ,above referred to, it ,is hereby declared, understood and agreed. as follows
(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 lien or charge- on the property therein
described, prior arid' superior to the lien or charge of-the deed of trust above mentioned
r
(2) That Lender would not make its loan above described without this subordination agreement..
(3) That this:.agre,ement shall be the whole and only agreement w.ith,regard to, the subordination of the;
.lien or 'charge of the Lien Agreement for Public Improvements first above. mentioned to the lien or
charge of the deed of trust in-favor of lender above referred to and shall supersede, and cancel; but
only insofar as would affect the -priority between the deed of trust and lien agreement for public
improvements hereinb'efore specifically described, any prior agreement as to such subordination
Including, but not limited, those provisions, if any, contained in the- lien agreement for public
improvements 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 (i) all pro -visions -of the note and deed of trust in favor of Lender :above
referred to, and (II) 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 agre.ernent 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 agre- ement, or agreements shall'. not .defeat the
subordination herein made In whole or In part,
(c) He intentionally and unconditionally waives, relinquishes and subordinates °- the.lien or charge of -the
lien agreement for public improvements first above mentioned in favor oHhe lien 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 lien agreement for -public improvements first above
mentioned that said lien agreement for public improvements has by this, 'instrument been
subordinated, to the fien or charge of the deed of trust in favor of Lender above referred to.
M
CLTA SUBORDINATION "A" INITIALS
FD -46A (Rev 12107) (EXISTING DEED OF TRUST TO NEW DEED OF TRUSTY Page No 2 of 3
T
(subora wpd)(12 -07,)
17-5
APN' 275 - 380- 1�5 -00
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
CONSU T W TH T ATTORNEYS WITH RESPECT THERETO'
Dire for of Admini trative Services/1-sea surer Anna, C Brenhan;lndividual
CM Of
Donald A Brennan, Individual
Anna C Brennan,. Trustee
Donald A Brennan, Trustee
Beneficiary Owner
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
State of California )
County of
On before me, Notary Public
r (here •insert name acid title of the officer), personally appeared_
vvho .proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is /are subscribed -to the
within instrument and. acknowledged to me that he /she /they executed the same in his /her /their authorized
capacity(ies),, and that by his /her /their signatures) on the instrument the person(s), or ,the entity upon behalf of
which the persons) acted, executed the instrument
I' certify under PENALTY OF ?ERJURY under the laws of the State -of California that the foregoing paragraph is true
,and correct
WITNESS my hand and official seal
Signature (Seal)
State of California 1 )
County of )
On before me, Notary Public
(here .insert name and title of .the officer), personally appeared'
who proved to me on the basis of ,satisfactory evidence to be the,person'(s) w_ hose name(s)' is /are subscribed .tO'the
Within instrument and acknowledged to me', that he /she /they executed the same in.r his /her /their authorized
capacity(ies), and that by his /her /their signature(s) on the instrument the person(s), or `the entity upon behalf of
which the person(s) acted, executed ,the instrument
certify under PENALTY OF PERJURY under the laws of the State of California that,the foregoing. paragraph is true
and correct
WITNESS my hand and official seal
Signature (Seal)
CLTA SUBORDINATION "A"
FD -46A '(Rev 12/07). (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Page No 3 of 3
(subora wpd)(12 -07)
116
CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT CIVIL CODE. § 1189
State of California
County of sa A a_ o
On 0- ftU "It before me; L &P N a 6 G ,
Date I Here Insert and Title of the Officer
personally appeared ZbkA �V�a
-Name(s) of 'Signer�*
CAROL'S. LEGG,
Commission * 1934186
Notary Public - Cal forma r:
San Diejo County
Comm. ras 28 2015 .
who proved to me on the basis of satisfactory
evidence 'to be the person(- whose name(S�- is /aff�e-
subscribed to the within instrument and acknowledged
to me that he /sjae/Awy executed the same in
his /l�w/their authorized capacity(, and that by
his / 3sT/ fir signature(4 on the instrument the
person(o), or the entity upon behalf of which the
person(a) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the
laws of the State of California that the. foregoing
paragraph is true and correct
WITNESS my hand and official seal
i
Signature
Place Notary Seal Above Signature of Notary P. is
OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying 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
Signer(s) Other Than Named Above
Capacity(ies) Claimed by Signer(s)
Signer's Name
❑ Corporate Officer — Title(s)
❑ Individual
OF SIGNER
❑ Partner — ❑ Limited ❑ General. Top of thumb here
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other-
Signer Is Representing
Number of Pages
Signer's Name
❑ Corporate Officer — Title(s)
❑ Individual
❑ Partner — ❑ Limited ❑ General Top of thumb here
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other-
Signer Is Representing
0 2010'National Notary Association - NationalNotary:org - 1- 800 -US NOTARY (1- 800 - 876 -6827) Item #5907
RECORDING REO.UESTED BY:
Fidelity National Title Company
EecrowNo 4325299 -TS
Title Order No 06177274
When Recorded Mail Document To:
City Clerk
City of Poway
P.O. Box 789
Poway, Ca 92074
SUBORDINATION AGREEMENT-
177'
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 December 21, 2011, by Brennan-Family Trust, Donald A. Brennan and Anna C. Brennan
owner of the land hereinafter described and hereinafter referred to as "Owner," and City of Poway, a Municipal
Corporation of the State of California
present owner and holder of Lien Agreement for Public, Improvements first hereinafter described ;and hereinafter
referred to as "Beneficiary ";
WITNESSETH
THAT. WHEREAS, Edwin A. Andress, Trustee of ,the Andress Family Trust Agreement dated April 25, 1.983, did
execute Lien Agreement for Public Improvements, dated July 29, 2005, to. City, of. Poway, a Municipal Coporation
of the State of California, as trustee, covering
Lot 88 of Valle Verde Estates Unit No. 3, in. the City of Poway, County of San Diego, State of California, according
to Map thereof No. 4933, filed in the Office of the County Recorder of San^Diego, March. 21; 1962.
to secure a lien agreement in the sum of $28,914.00, dated July 29, 2005, in favor of City of Poway, a Municipal
Corporation of the State of California,. which Lien Agreement for Public Improvements was recorded as instrument
no 2005- 0685888, on August 10, 2005 and modified on August 14, 2009 in favor of the City of Poway, a
Municipal Corporation , which said Subordination Agreement was recorded on August 28, 2009 as instrument no
2009 - 0484085` Official Records of said county; and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $300,000.00
dated in favor of Steward Investments, Inc., hereinafter referred to as
"Lender," payable with interest and upon the terms and conditions described therein, which deed of trust is to; be
recorded concurrently herewith, and
CLTA SUBORDINATION "A" INITIALS
FD -46A (Rev 12/07) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Page No 1 of 3
(subora wpd) (12 -07)
178
APN 275 - 380- '15 -00 '
WHEREAS, 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 Lien Agreement for Public Improvements first above mentioned; and
WHEREAS, lender is willing to make said loan provided the deed of trust securing.the.same is a lien or charge upon
the above described property prior and superior to the lien or charge of the Lien Ageement for Public_ Improvements
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 Lien Agreement for Public Improvements
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 to, it is hereby declared, understood and agreed as follows
(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 lien or charge 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
i
(3) That this agreement shall be the whole and only agreement with regard to the subordination of the
lien or charge of the Lien Agreement for Public Improvements first above mentioned to the lien or
charge of the deed of trust in favor of lender above referred to and shall supersede and cancel, but
only insofar as would affect the priority between the deed of trust and ,lien agreement for public
improvements hereinbefore specifically described, any prior agreerrient as to such subordination
including, but not limited, those provisions, if any, contained in the lien' agreement for public
improvements 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 (i) all provisions of the note and deed of trust in favor of Lender above
referred to, and (ii) 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 lien or charge of the
lien agreement for public improvements first above mentioned -in favor of the lien 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 lien agreement for public improvements first above
mentioned that said lien agreement for public improvements has by this instrument been
subordinated to the lien or charge of the deed of trust in favor of Lender above referred to
CLTA SUBORDINATION "A" INITIALS
FD -46A (Rev 12/07) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Page No 2 of 3
(subora wpd)(12 -07) t
A'PN 275- 380 -15 -00 13 9
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 T" SUBORDINATION AGREEMENT, THE PARTIES
CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERET / /) A 1
Director of Administrative Services /Treasurer Anri64 Brennan,lndividu
ojgld A Brenn ndividual
A'nhg(,C Brennan, Try tee
111a
ald A. Br`enoy(; Tru
Beneficiary Owner
(ALL SIGNATURES MUST BE, ACKNOWLEDGED)
State of California
County of
One 2�2 2 el/ before me, �id �� ,�Q�i -jam , Notary Public
(here insert Warne and Ntle of the offi er), ersonally appe red
who proved to me on the basis of satisfactory evidence to be the persons) whose name(sels re subscribed to the
within- instrument and ac owledged to me that (0she /they executed the same i is her /their authorized
capacity(ies), and that by is er /their signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument.
I certify, under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true
and correct
WITNESS my hand and official seal.
Signature (Seal)
II
State of Calif rnia l� )
County of� )
On before meWU�
o l� 2�l I ,
(here insert name and title, of the officer), personally appear e
RHODN P MADRID
COMM. #.1797149 n
vz NOTARY PUBLIC - CALIFORNI A zi+
v ORANGE COUNTY
Canim�ssian Expires May 3,2012-
Notary Public
who proved to me on the basis of satisfactory evidence to be the persons) whose name(s)` is are subscribed to the
within instrument and acknowledged to me that he /she /they executed the same in his /her /their authorized
capacity(ies), and that by his /her heir signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true
and correct
,
WITNESS my hand and official. seal JULIE SCHUMER Notary Public
State of Colorado
Signature (Seal) ,
My Comm. Ekpires March 27, 2013
CLTA SUBORDINATION "YA"
FD -46A (Rev 12/07) (EXISTING DEED OF TRUST TO NEW DEED OF TRUST) Page No 3 of 3
(subora wpd)(12 -07)
a
FD -46A (Rev 12107)
(sub6ra,'wpd).(12 -07)
1
4
CI_TA SUBORDINATION "A" INITIALS
(EXISTING -DEED OF TRUST TO NEW DEED OF TRUST)'
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