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Subordination Agreement 1993-0502371RECORDING REQUESTED BY REGOPDING PEOUIESTED BY COMMONWEALTH LANG TITLE COMPANY AND WHEN RECORDED MAIL TO NAM CITY OF POWAY ADDiiESS 12935 PomeraiA - // CITY e Poway, CA. STA /// &� # 1993-0502371 04?3 G-1 V V } OFFICIAL RECORDS SAN DIEGO COUNTY RECORDER'S OFFICE ANNETTE EVANS, COUNTY RECORDED' RF• 6.00 FEES: 14.00 AF, 7.00 MF: 1.00 SPACE ABOVE THIS LINE FOR RECORDER S USE 14JB0RI)1NAT10N AGRF F111 `ST '\011CI THIS SUBOBDINATION A(,RLI1ITI.A1 R '.411 1s 11 )iOt H tiI(LHI1)i I 1 lit 5f 1\ 11IF, I11kOI'1 1111 I3I'CONTEV, SI IiJF( I TO AND OI LOWF.It I'lil(1HI11 11IAA III], 1 11',A UI' SO111 OLHI'li Oli 1.A1 PR S1 (t NH IA51RU\ILAT THIS AGREEMENT made thl. 30th day of July to 93 by ROBERT A. MYERS AND KATHLEEN A. MYERS owner of the land hereinafter described and hereinafter referred to a, Ov�nel and CITY OF POWAY, A MUNICIPAL CORPORATION present owner and holder of the- Ieed� -4+rwt -and note fir,t hereinafter df ,(i Iht d and hereinafter refer red to a� ` 13ene ficrary" , to WITAF SSFTFI ** THAT WHEREAS, Owner has executed a-ftet-of -MM, dated APril 141 1987. A SINGLE FAMILY RESIDENCE AT 18028 OLD COACH ROAD, POWAY, CA 92064 (See Attached Legal) , =,= eovennan to secure a note in the sum of $ 3,512.00 dated April 14, 1987 n favor of Beneficiary, which recorded March 23, 1988 as Document No. 88- 132355, and WHEREAS, Owner has executed, or is about to execute, a deed of trust and note In the sum of 8 147, 500.00 dated July 291 1.993 , in favor of Colonial Bank, N.A. hereinafter referred to as "Lender ", payable with mtere,�t and upon the term, ind conditions de�clrbed therein «filth deed of trust is al,o to be recorded concurrenth herewith, and WHEREAS, it is a condiLon precedent to obtalnlnL, sold loan ftotn Lender th It yard deed of tnl,t la,t above mentioned shall unconditionally be and reiq4ji at all time, a hen or charge upon the land herelnbefore de,clibed, pool and superior to the lien or charge of the =KT- fir: t above mentioned, and WHEREAS, Lender I,, willing to male said loan prov rded tht deed of trust e, wring the same I� a lien or charge upon the above de,cnbed property prior and ;upelioi to the hen or charge of the cltlafu,1 fu,t aboN .V*tnentloned and pro%rded that Benefitlary will specifically and uncondltionalk subordinate the lien or dialge of the dCrd- I4 -tTrrt first above mt utroned to the lien or char,-,e of the deed of tl u�t In f Ix oI of Lcudel , Ind WHEREAS, it i,� to the mutual benefit of the partre, hestto drat. Lender mare ,u<h loan to 0%%neI, and Benefi(Lar) is willing that the deed of trust securing the same shall, when re(�ikled, Ion�tltutc a hen or charge upon Bald land N%hlch 15 unconditionally prior and Superior to the hen of chat.ge of the4 -e-c f-",,t fir,t above mentioned IN ALL AREAS INDICATED WITH ** THE PHRASE, LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS SHOULD APPEAR. 1 Form 3222 Concurrent (Subordination Form B -) 0 a 1 (,-/ .r NOW, THEREI'ORE, in on�ideiatlon of the mutual benefit,, accruing to the parties hereto and other Na'Iuable consideration the receipt and sulrciencv of which consideration r, 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 paid deed of tru,1 ,enuring said note in faior of Lender. and any renewal, or e\ien,ion, thereof shall unconditionally be and remain at all times hen or charge on the pioperty therein de,( ribed prioi and supeiior to the lien or charge of the EleeEl -&f-f - fir,t aho\e mentioned (2) That Lender would not make its loan aboie de-(i)bed iuthout tlii� suboidination agreement (3) That this agreegkglit shall be the whole and only agreement with regard to the subordination of the hen or charge of the deer}- of-tntstfirst 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 deeds of trust hereinbefore specifically described, anv pi nor agreer nts as to such subordina tion including, but not limited to, those provisions, if any, contained in the drecT- uf-tmst first above men tioned, which pros ide for the ,ubordniation of the lien or charge thereof to another deed or deeds of trust or to another mortgage or mortgages Beneficiary declare,, agrees and acknowledges that (a) He consents to and approi e, (i ) all pros nsion, of the note and deed of trust in fan or of Lender above referred to, and (ii) all agreements including but not limited to any loin or e ,,crow agreements, between Owner and Lender for the di,bursenient of the proceed, of Lender', 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, ,ee 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 agreement, ,hall 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 deFd**0t -trust' first above mentioned in favor of the hen 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 sub ordination, and (d) An endorsement has been placed upon the note secured by the (hr t-TTMT first above mentioned that said - deudkh—rt"II rhas by this mstrurnent been subordinated to the lien or charge of the deed of trust in favor of Lender above referred to 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 IN ALL AREAS INDICATED WITH "THE PHRASE, SHOULD APPEAR v4e� a- ri0)=,POCU g -/ Beneficiary LI EOR PUB14C I7RO ] ROBERT A. S Mj Jai� Own�r 29��A. (All signatures must be acknowledged) K COMMONWEALTH LAND This Form Furnished By TITLE INSURANCE COMPANY IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO ri 3222 Concurrent (SUBORDINATION FORM "B ") L . ■ . .�■ A^WK1A 1A 1I Cn/`- RACIUT State of California 16.E County of San T)i PgQ On 07 -31 -93 before me, Christopher J McCalltun Notary Public—, DATE NAME, TITLE OF OFFICER - E.G. JANE DOE, NOTARY PUBLIC' personally appeared * * ** *Robert A Myers and Kathleen A Myers * * * ** , NAME(S) OF SIGNER(S) ❑ personally known to me 0 OR • ® 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 signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. CHRISTOPHER J. MCCALLUM COMM #986696 n Wi ss my hand and official seal. NOTARY PUBLIC -CALIFORNIA SAN DIEGO COUNTY l� C) 8 MY COMMISSION EXPIRES A ++ MARCH a+ 997 CI NATI IR OF NOTARY up I IIUNW etc 111111.1111111 IF I It OPTIONAL SECTION CAPACITY CLAIMED BY SIGNER Though statute does not require Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. ❑ INDIVIDUAL ❑ CORPORATE OFFICER(S) TITLES) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ❑ ATTORNEY -IN -FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTrrY(IES) THIS CERTIFICATE MUST BE ATTACHED TO Subordination Agreeement THE DOCUMENT DESCRIBED AT RIGHT Title or Type of Document Number of Pages 2 Date of Document 07 -30 -93 Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form. Signer(s) Other than Named Above N12nP --------- _.. -.-- -- -- -- - --- ,---- mmnr+nnnnnnnnr 3214 (12/92) k 10 Exhibit "A" PARCEL 1: 15 �), THAT PORTION OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SECTION 19, TOWNSHIP 13 SOUTH, RANGE 1 WEST, SAN BERNARDINO BASE AND MERIDIAN, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO UNITED STATES GOVERNMENT SURVEY, DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWESTERLY CORNER OF SAID NORTHEAST QUARTER OF THE NORTHEAST QUARTER; THENCE ALONG THE WESTERLY LINE OF SAID QUARTER QUARTER, SOUTH 04 006141" WEST, 301.09 FEET; THENCE PARALLEL WITH THE NORTHERLY LINE OF SAID QUARTER QUARTER, NORTH 89 °14137" EAST, 365.00 FEET; THENCE PARALLEL WITH THE WESTERLY LINE OF SAID QUARTER QUARTER, NORTH 04 °06141" EAST, 301.09 FEET TO THE NORTHERLY LINE OF SAID SECTION 19; THENCE ALONG SAID NORTHERLY LINE, SOUTH 89 014137" WEST, 365.00 FEET TO THE POINT OF BEGINNING. PARCEL 2: AN EASEMENT FOR ROAD AND UTILITY PURPOSES OVER, UNDER, ALONG AND ACROSS A STRIP OF LAND 30.00 FEET IN WIDTH LYING WITHIN THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SECTION 19, TOWNSHIP 13 SOUTH, RANGE 1 WEST, SAN BERNARDINO BASE AND MERIDIAN, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO UNITED STATES GOVERNMENT SURVEY, SAID 30.00 FOOT STRIP LYING SOUTHERLY OF AND IMMEDIATELY ADJOINING THE SOUTHERLY LINE OF PARCEL 1 HEREINABOVE DESCRIBED. r-Al lFARNIA ALL.- PURPOSE ACKNOWLEDGMENT State of County of 54d On JuL-y 30, 3 before me, -SA��S L�AT•�JE.QS nIOTAR y DATE NAME TITLE OF OFFICER E.G, "JANE OE NOTARY PUBLIC' personally appeared 8ot,/L,2SO x , NAME(S) OF SIGNER(S) personally known to me - OR - to be the person(s) whose name(s) Is /are subscribed to the within Instrument and ac- knowledged to me that he /she /they executed the same In his /her /their authorized JAMES LEATHERS capacity(les), and that by his /her /their COMM. # 98M ShmY signature(s) on the Instrument the person(s), NotoryPttic— Californio or the entity upon behalf of which the SAN DSO COUNTY Comm Ex;wes APR 4 1997 person(s) acted, executed the Instrument No 5193 OPTIONAL SECTION � CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill In the data below doing so may prove invaluable to persons relying on the document INDIVIDUAL ❑ CORPORATE OFFICER(S) TITLE(S) PARTNER(S) [] LIMITED E] GENERAL E] ATTORNEY IN -FACT TRUSTEE(S) GUARDIAN /CONSERVATOR OTHER SIGNER IS REPRESENTING. WITNESS my hand and official seal NAME OF PERSON(S) OR ENTITY(IES) SIGNATURE OF NOTARY OPTIONAL SECTION THIS CERTIFICATE MUST BE ATTACHED TO TITLE OR TYPE OF DOCUMENT � S A /LE�mE / _ THE DOCUMENT DESCRIBED AT RIGHT Though the data requested here is not required by law It could prevent fraudulent reattachment of this form NUMBER OF PAGES / DATE OF DOCUMENT 7-30-93 SIGNER(S) OTHER THAN NAMED ABOVE ©1993 NATIONAL NOTARY ASSOCIATION • 8236 Remmet Ave, P 0 Box 7184 Canoga NarK, GA 913U9 1164