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Subordination Agreement 2013-0382442 I f �} �} {} �']�}y +] �}']a�+'} � ' LJ V � �"F Gla I ti7'�Jti74G��t� � ? � ��OI�I��I��I��O�I��0��0� I��0��I�O��I 0��5�� : , ' RECORDING REQUESTED BY: • JUN 18, 2�13 2:49 PM 13 213 StewaA TfUe ofCa[ITornla,Inc. OFFICIAL RECORDS SAN DIEGO CDUNTY RECORDER'S OFFICE ' WHEN RECORDED.MAILTO EmestJ. Dionen6urg,Jc, COLINTY RECORDER . . . ^ FEES: 24.00 ' City of Powey� � PAGES: =t I 13326 CiWc Center Drive � I II�III IIIII'llll IIIII IIIII IIIII IIIII IIIII IIIII IIIII IIIII�IIII IIIII IIIII IIIII IIII IIII I Poway, CA 92084 �(p �-� I I ORDER NO. 01180-38358 � ESCROW NO. 01180-39356 i APN: 314-47420 i I , �� - SPACE ABOVE THIS UNE FOR RECORDEF2S USE SUBORDINATION AGREEMENT �i ��NO77CE: THIS.SUeORDINAT'ION,AGREEMENT RESULTS IW�YOUR�SECURITY INTEREST�IN THE PROPERTY BECOMIN6 ��. SUBJECT TO;AND�OF LOWER PRIORI7Y THAN THE'LIEN OF�SOME O7HER'OR�LATER�3ECURfi'Y INSTRUMENT. THIS Ag(eement,;mada May 30, 2013; tiy'MeIvM R. Glllum,.Tnistee, oc Successors In Interest, pursuanl to The'Mel ._ Glllum Trusl dated.June'5,2000, ownecof the Jand herslnaftet.describeii end herelnaHer refeRedsto ae "D�vner";and'City of Poway as successor agency, presenf ownerand hoMer of the deed oYtrust'and r.ote flrst herelnefter dasc�ibed snd herelnafterreferred ro as"Beneflclary°; WITNESSETH THAT WHEREAS,,Melvin R.Gillum„Trustee, or Successor� In Interest,pursuant to The Mel Gillum Trust dated June 5, ' - �, 2000;did.exc�cute a'deed of trust, datetl Odober 5,2�06, to Comprehenslve Housing Services, Inc.,a.Califomia � Corpo�ation, as trustee covedng: the property located at 15006,Lufs Street, Poway, Ca 92064,.described es; __ _ _ ,_ d - - - - - - osecurela note In tfie sum of$10 OOO,OO,,dated October 5, 2006 in'favar of Poway Redevelopmenf,Agency,,wBich �� I deed of trust wes recorded Octobet 17, 2008; as InsVumenf No. 20D6-0736042, In Book N/A!, Page N1Al, OfFldal Records of said county; end Vi±FIEREAS, on February 1,2012, fhe,Poway Redevelopment Agency was dissolved by opers5on ofiaw, and, pursuant to • Catifomla Health and Safety Code Section 34173, the Cfty of Poway became the Successor Agen�7r to the "former Redevelopment qqency; end VNiEREAS, as a result of the dlssoluUorc of Uie Redevelopment Agency;and in accordence with Health and Safety Code � Section 34173, sald Deed of Trust hasbeen assigned to the Successor Agency; and � HERFAS, Owner tias execufed, or Is about to execute, a daed of trust and note In the sum of $86,5�0.00, dated In favor of Polnt Loma Credit Unbn, heieinafter referted to es`Lender", payable wfth fnterest and upon theYerms e conditlons descfl6ed flierein,which deed of Wst Is to be recortled concurrently herewfth; and ' WIiEREAS, it ls a'condidon preqedent to obtaining saltl loan, that sald deed of trust last above mentfoneQ shall uncondkionalfy be and remaln at all Bmes a Ilen or chaFge upon the land hareinbefore descrlbetl, priorand superior to tlie lien or charge of the deed of fruat ilrst above menlioned; and WHEREAS, Lenderls w(Iling to make sald loan provlded the daed of Vust securing fhe seme Is a lien or charge upon the I above described proparty pdor and superlor to the lien occfiaige of ihe doed ot trust first above mentloned end provided I that Beneficlary will speciflcally and uncondltbnally subordlnate fhe Iien or charge of the deed of tiust first above mentioned to the Ilen'oF chaige oi the deed of trustln favor.oilendar, and � I Flle No.: 0118439358 � CA�Subotdlnalion Aglee�iient A I i ' ° 13214 � WHEREAS, ft Is to the mutual benefit of the parties hereto that Lender make sudi loan � Owner; and Beneflolary is wllling thet the deed of trust securing the same ahall,when recorded, constltuta a lian or charge upon said land whlch is I unconditlonally prior end superlor lo the lien or charge of the deed of trust first ebove mentloned. i i NOW, 7HEREFORE, in conslderatlon of the mutuai benefits accruing to the parties hereto and other valuable I conalderadon,the recelpt and eufflclency of whlch consideratlon la hereby acknowledged, and In order to induce Lender to make the loan above referred to, it is hereby tleciered, understood end agreed as follows: I (1) That said deed of trust secuNng said note in favor of Lender, and any renewals or extenslons thereof, shall i unconditionally De and remafn at all Umes a Ilen or charc,�e on the property fheneln described, prior and superior to the Ifen � or charge of the deed oT trust above mentloned. I I (2) That Lender would not make lts loan above descrlbed without this subordinatbn egreement I {3) That thls"agreement shafl be the whole and ony agreement with regard to the subordinatlon of the Iien or charge of j the deed of trust flrst ebove menlloned to the Ilen or charge of Ihe deed of trust In tavor of Lender above referred to and ' shall supersede and cancel, but only insofar as would affect the p�iorlty between the deeds of trust hereinbefore . speciflcally describad, any pdor agreement as to such subordinatlon induding, but not limited to,those provisions, if any, • contalned In fhe deed of trust first above mentloned, which provlde for the subordinatlon of the Ilen or charge thereof tn , another deed or deeds ot tnist or to another mortgage or mortgages. Beneflclary declares, agrees and aclmowledgea that: (a) He consents to and approves (i)all provisbns of the no6s and deed af trust in (avor of Lender above referred to, and (ii) all agreemenis, includfng but not limited to any loan or esaow agreements, between Owner and Lender for the disbursamer�t of fhe proceeds of Lenders loan; I (b) Landar In making dlsbursements pursuant to any such agreement Is under no obllgation or duty to, nor has Lender represented that It:will, see to the appilcatlan of such proceeds by the person or persona to whom Lender dfsburses such proceeda and any applicatlon or use of such proceeds for pwposes other then those provided for In such agreement or a'greements sfiall'notdeteat the subordinatbn herefn matle in whole or in part; (c) He Inten�onaily and uncond�iona�y waives, relfnquishes and subordlnates tha Iien or cherge of the deed of Uvst first abave mentloned In favor oT the lien or charge upon sald land of tlie deed of trust ln tavor of Lender ebova referred to and , understands that In reliance upon, and In(nconsideiation o(, thls waiver, rellnqulshment and subordlnatlon, specific loans and advances are being and wlll be made and, as parl antl pamel thereof, specific monehary and othar obligations ere ' being and will be antered Into whlch would not be made or entered into but tor seid reliance upon this waivar, rellnqulahment and subordlnatlon; and (d) An endorsement has been placed upon tho note secured by the deed of trust first above mentioned that said deed of trust has by thls Instrumenl been subordlnated to the lien or charge of the deed of trust In favor of Lender above referred ta. htOTICE; THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECUftI7Y TO OBTAIN A LOAN, A PORTION O� WHICH MAY BE i EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND. i IT IS RECqMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, 7HE PARTIES � CONSULT WITH THEIR ATfORNEY5IMTH RESPECT THERETO. i ! ' FIIe No.: 011 005 9 3 56 CA SuhoMlnetbn Agreament A I I � i I I i FlIeNO.: 011 80-39 356� - � CASuborillnation,SgieementA . i � , I� � . � 13ZL5 BENEFICIARY; City of Poway es Successor Agcncy � � , � By: Penny 'ley,Ci Maneg State of � County of f OnQunL � ,g, 1n�3 before me C4ro� $• �tgg� � tyQ tay Public(fwre insert nsme and tltle af 1Fre oHicer)�-pereone ly a1 ppeared � Y2aAa/ � .� . .. - . . -TP---!�J _.._. _ , � who'proved��to��me an'fhe'besis��of satlafaGory evkence to be the person(c) CAROL S. LEGG � whose name(� Waee subsaihed to fhe wlihln InaWmeirt and Cammission # 1934t86 . ecknawledgetl to,me fhal.delahelthey exedded the eame In 1da/t�edUaeir .� Notary Public-California -i aufhorized capacltyQea), end thet by .pis/trertthefr slgnaWre{e) on the San"Diego Counry' �' � Ina7umeM�the persan(aJ',or the��erAity upon Cehelf of wh(di the person(c� , M Comm.Ez ires Apr 28,2015 � acted,executed the instrument. � � I certly under PEMAL7Y oF PERJURY under the lews at the State ot Calfiomla ihat the fnregoing paregre{d�is Uue�and cortect i WITNE93 rtty hand and offidel saeL (Seal) i l Sgnehrre (.CQ< OWNER: 'fhe Mel GiAurn 7rust dated June 5;2000 _ __ . _ � _ _ _ _�_ -- - -- �'l� i��0�r --,��►-� �- �� Mehn'n'R. G�lum,7rustee i State of Califomia : ' County of San Diego ' on l i. �� before me ,��/ � N 6 - (h�e�in� rt na �- o fhe erj personaliy appearetl , � 6 mmca�ua1au1o,u++o i � OFFICIAL SEAL �'��.: � who proved to me the basis of satfafadory eWdence to be the person(s) � JULIE A. HOUSHAR � acknuwletlge[i(to�ha henhey ed thesseme . Is erAfie �� NOTARY PUBLIGCALIFORNIA� ' . COMM.N0. 1857027 — ; whose neme s I re s salbed t�a n ns � B �� .SAN WE�O COUNTY _ .�� . _. t euthorized capectty(les), • d tlief h erAheir signeture e) on tl�e= MY CAMM.EXP,AUOU9T 3,2013`; ; Insfivment tha paraon(s)':-or tha entiry �on behalf of whfch'the�person(s) , . �ected,executed the��InstnimenL � � . I certHy uridar PENALIY OF PERJURY undar the laws of tlie Stete of � Californla that the foregbing peragreph le true and eonect, (Seal) I � WITNESS tny h d a��official epl. . � SlgnaW � j Flle No: 07180.38358 CA SuhordlnaUon Agreemorif A� , 13216 EXHIBIT"A" � LEGAL DESCRIPTION � Lot 188 of RANCHO VERDE UNIT NO.4,In the City of Poway, County of Sen Diego, Shate of Califomia, according to , Map thereof No, 7671, flled in the Office of ttie County Recordarof San Dlego County on February 28, 1973. ' EXCEPTING THEREFROM all oil,gns„minerals and hydrocerbon rights and substances in and undet the land but beoeath n plana 500 faet balow the stirface of the land,but without any rigtit of surfaca entry. I �, , � I � I �I — -- -- — — - � i I` i i I I I Flle No.: 011 BO-39358 � CASuborrJlnatlonAgreamentA �