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HomeMy WebLinkAbout; The Trustees of Central States; 73-280788; Subordination AgreementAFTER RECORDING MAIL TO: Woodside/Kubota & Associates, Inc. P.O. Box 1095 Carlsbad, Calif,92008 SUBORDINATION AGREEMENT I. .. FOR VALUE RECEIVED, the undersigned, as Beneficiary under the Deeds 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 Deeds 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 Deeds of Trust. Beneficiary declares and acknowledges that it hereby intentionally waives, relinquishes and subordinates the priorities and superiorities of the lien and charge of the Deeds of Trust described in Paragraph II upon the land described therein in favor of the easement described in Paragraph III to which the Deeds 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. I I. A Deed of Trust dated January l, 1968 in the amount of $18,839,786.55, executed by La Costa Land Company, an Illinois corporation, as Truster, Title Insurance and Trust Company, a California corporation, as Trustee, in favor of The Trustees of Central States, Southeast and Southwest Areas Pension Fund, as Beneficiary, was recorded April 10, 1968 in the office of the County Recorder of San DiegorCounty as File No. 60084. NO CHARGE ON THIS DOCUMENT FOR THE BENEFIT OF · .. 4&1jl;o11u,11/ ¼10 $~~/c I--1-/1 fl~E 'li_3-2807SS BOOK 1973 RECORDED REQUEST OF TITLE INSURANCE & TRUST CO. OCT -5 8:00 AM '73 OFFICIAL RECORDS SAN DIEGO COUNTY, CALI~ Jll: HARMbcfRD~OOM ~t>,. . I TO 449 C -~ A Deed of Trust dated June 23, 1970 in the amount of $7,000,000.00, executed by La Costa Land Company, an Illinois corp- oration, as Truster, Title Insurance and Trust Company, a California corporation, as Trustee, in favor of The Trustees of Central States, Southeast and Southwest Areas Pension Fund, as Beneficiary, was recorded June 25, 1970 in the office of the County Recorder of San Diego County as File No. 111034. I I I. An easement granted to the Carlsbad Municipal Water District for pipeline purposes was recorded September 7, 1973 in the office of the County Recorder of San Diego County as File No. 73-252776. The lands in which said easement of right of way are situated in the County of San Diego, State of California, and are particularly described as follows: ( Corporation) !' -284 6, ridian, e of ST ATE OF CALIFORNIA • } -_____ § __ ~_· ----ss. COUNTY OF an ie go t September 28, 1973 before me, the undersigned, a Notary Public in and for said .': On ---=:..=.c::...:..=c-==~---....,-_-' _--~-' ---=--;:-;-_-_-~--:.A~•:.....±p--!•:.....±D~o~n:!.:i~a:___-:;,-::::-::-::,:;:;--~~~----. . State, personally appeared Rose E. Bain 111 known to me to be the AS St• Vice -President, and ---=-=-.:::.::~-=.:..__:::::c...c.:__ ____ _, y and ·a: k t b As st. Secretary of the corporation that executed the within Instrument, as 111 nown to me o e -------. . • d A :c known to me to be the persons who executed the w!lhm Authorize gent, ~ I n~trument on behalf of the corporation therein named,. a~d D. acknowledged to me that such corporation exec.uted t~e wuhm '~ instrument pursuant to its by-laws or a resoluuon of 11s board 111 of directors. ! WITNESS m~hjd. •~• offiod "✓ , / IL/ Signature C?:z.. t -7 G 1 k/ ~ c,, - TO 4411 C (Corporation) Name (Typed or Printed) Name (Typed or Printed) or;:1 '":11'.L ," H VIVIAN L · HANKS ,'l0T.'\~Y ru1uct ('.:·, :·:::llA PP.lrlCIP,\l Oll'ICE !i·•l St.:! o::r:o C01JtHY 1sslon Expires April 21, 1975 ----. . .. ---' .. - • -. .... -•. ♦ ;. " .:.. ~~~,......,. ~--- (Thl1 area for offlclal notarial Hal) s:,;.! L•j::-•;o 1-r.--:'J! ir, _ My Conw,·i:.s'0ri E><;iir:,; April 21, 19"/6 :( . .....-.. "' •..., .... rT ........ .,.--, ,.-.-... --y, .,--.,••~-" 't ~ ...-• T ...-•• , (Thia area for official notarial 1eal) Lot 2 eof er of rth 65° ner of et along v line of J Map { Recorder iTATES, 1REAS ·ance & Trust Lt, dent -:? \.