HomeMy WebLinkAbout; Aviara Land Associates LP; 1992-0221641; Subordination Agreement_-I
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##:ETTE EijAt.1'5 q CfiMT'Y RECI?F;[I!~' ) PLEASE RECORD THIS DOCUMENT AT
NO FEE AS IT IS TO THE BENEFIT
OF THIS DISTRICT (GOV. CODE [6103 3). ) FEES: 1
1 RECORDING REQUESTED AND 1
WHEN RECORDED, PLEASE MAIL TO 1
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WITNESSETH
,
THAT WHEREAS, Aviara Land Associates Limited Partnership,
(Trustor)
Delaware Limited Partnership did execute a deec
trust, dated December 20 , 1988 to First Interstate Bank c
California, a California Corporatioms trustee, covering
A Portion of the East Half of the Southeast Quarter of Section 22, Towns
12 South, Ranse 4 West, San Bernardino Base and Meridian, in the Citv of
Carlsbad, County of San Diego, State of California, according to offici? plat thereof
(Date) (Trustee)
(Brief Legal Description)
(See Exhibit IIAII & l1~I1 for Detailed Description)
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969 e
to secure a note in the sum of
........................ ($ 125,000,000.00 ) dated December 20
1988, in favor of First Interstate Bank of California recc
(Beneficiary) cc in the office of the County Recorder of
on December 23, 1988 , as File No. 88-661636 of offi
One Hundred Twenty-Five Million Doll
(Lien Amount)
(Date)
San Diego
(County)
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or charge of the EASEMENT/EASEMENTS created in favor of Eas
Grantee; and
WHEREAS, it is to the mutual benefit of the pa
hereto that Easement Grantee accept said EASEMENT/EASEMENT
Beneficiary is willing that the grant of EASEMENT/EASEMENTS s
when recorded, constitute a charge upon said land whic
unconditionally prior and superior to the lien or charge o
deed of trust above mentioned.
NOW, THEREFORE, in consideration of the mutual ber
accruing to the parties hereto and other valuable consider;
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970
the receipt and sufficiency of which consideration is hc
acknowledged, and in order to induce Easement Grantee to ac
said EASEMENT/EASEMENTS above referred to, it is hereby decl;
understood and agreed as follows:
1. That said EASEMENT/EASEMENTS in favor of East
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trust above mentioned, which provide for the subordination o
lien or charge thereof to another interest in the real pro
therein described.
BENEFICIARY declares, agrees and acknowledges that
1. He consents to and approves the gran
EASEMENT/EASEMENTS in favor of the Easement Grantee.
2. He intentionally and unconditionally wa
relinquishes and subordinates the lien or charge of the de
trust above mentioned to the EASEMENT/EASEMENTS in favc
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Easement Grantee above referred to and understands that in relj
upon, and in consideration of, this waiver, relinquishment
subordination of the grant of EASEMENT/EASEMENTS is being exec
and delivered, the EASEMENT/EASEMENTS IS/ARE being created,
that specific monetary and other obligations are being and wi:
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(authorized signature) (authorized signatu
Assistant Secretary -. -,- _r
_r ,' /--e r_
(title) (title)
NOTE THAT THE PRESIDENT OR VICE-PRESIDENT AND THE SECRETA
ASSISTANT SECRETARY MUST SIGN A CORPORATE EXECUTION OF DOCUMENT. OF DIRECTORS THAT IS SIGNED BY THE SECRETARY OR ASSISTANT SECF
OF THE CORPORATION, UNDER CORPORATE SEAL SPECIFICALLY EMPOF
THE INDIVIDUAL SIGNING IN BEHALF OF THE CORPORATION WILL
SUFFICIENT AUTHORITY OF SAID INDIVIDUAL TO ACT IN THIS MATTI
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF
ALTERNATELY A TRUE COPY OF THE RESOLUTION OF THE
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972 I
*> STATE OF CALiFmA JSS.
COUNTY OF Orange I
-I b On July 1, 1991
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Z Signat (This area for off icial notarial seal)
, before me, the undersigned, a Notary Public in and for
and
, personally known to me (or proved to me on the
c ". z ,said State, personally appeared Mark D. Whalen
Pfona Russell
basis of satisfactory evidence) to be the persons who executed the within instrument as
Vice President and Assistant Secretary, on behalf of
First Interstate Bank of California,
the corporation therein named, and acknowledged to me that
such corporationexecuted thewithin rnstrument pursuanttoits
by-laws or a resolution of its board of directors
WITNESS my hand and official seal
:
kE - -0
OFFICIAL SEA1 gg
PFtirLPAL OFFICF IN
SA4 DIEGO COUNTY
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SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTOI
WITH RESPECT THERETO.
A oved as to form: L (2. L Vincent F. Biondo, Jr., General Counsel
(Notarial acknowledgement of execution of OWNER and BENEFI(
must be attached.
3/3&z*
CMWD 86-109
5 3/26/91
9(a w .,
STA'TE OF CALIFORNIA I
COUNTY OF San Diego I I ss.
On June 24. 1991 before me, the undersigned, a Notary Public in and for said
State, personally appeared D.L. Clemens, personally known to me -e vce to be the person who executed the within instrument as the
Vice President and Ted L. Hoover personally known to me lif
nf m to be the person who executed the within instrument as the
Assistant -ara Land Company, a Delaware corporation, the corporation thal
executed the within instrument on behalf of Aviara Land Associates Limited Partnership, a Delaware Limited Partnership, the partnership that executed the within instrument, and acknowledged to me that such corporation executed the same as such partner and that such partnership executed the same.
WITNESS my hand and official seal.
L/r/cU 4. BBb,p,
NOTARY PUBLIC
(Seal)
0975
EXHIBIT "A"
LEGAL DESCRIPTION
FOR
WATER LINE AND TEMPORARY CONSTRUCTION EASEMENTS
VESTING: AVIARA LAND ASSOCIATES LIMITED PARTNERSHIP
APN: 215-080-24
THAT PORTION OF THE EAST HALF OF FRACTIONAL SECTION 229 TOWNSHIP 12 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS :
PARCEL 1: WATER LINE EASEMENT
A STRIP OF LAND 15.00 FEET WIDE LYING 7.50 FEET OF EACH SIDE AND PARALLEL TO OF THE FOLLOWING DESCRIBED CENTERLINE;
COMMENCING AT THE SOUTHWEST CORNER OF FRACTIONAL SECTION 23, TOWNSHIP 12 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN; THENCE NORTH ALONG THE WESTERLY LINE OF SAID SECTION 23 NORTH 0'33'25" EAST 2491.10 FEET MORE OR LESS TO THE NORTHWEST CORNER OF SAID SECTION 23, BEING THE CLOSING CORNER COMMON TO FRACTIONAL SECTION
22 AXii) 23; THENCE NORTH 8fjo28'30" WEST, 22.96 FEET ALONG THE NORTH LINE OF SAID SECTION 22 TO THE TRUE POINT OF BEGINNING; THENCE ALONG SAID CENTERLINE SOUTH 22'59'48" WEST 89.99 FEET; THENCE SOUTH
0'33'25" WEST 68.98 FEET TO A POINT IN THE NORTHEASTERLY LINE OF THAT CERTAIN PARCEL AS CONVEYED TO THE CITY OF CARLSBAD IN DEED RECORDED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, JUNE
NORTHEASTERLY LINE HAVING A BEARING NORTH 52'45'54'' WEST AND BEING 29, 1989 AS FILE NO. 89-345769 OF OFFICIAL RECORDS, SAID
THE SOUTHERLY TERMINUS OF THIS DESCRIPTION.
THE SIDELINES OF SAID 15.00 FOOT WIDE EASEMENT SHALL BE PROLONGED OR SHORTENED TO TERMINATE IN THE SOUTHERLY LINE OF PARCEL "F" OF PARCEL MAP 12353 ACCORDING TO MAP THEREOF RECORDED AS FILE NO. 83-
303516 AND IN THE NORTHEASTERLY LINE OF THE AFOREMENTIONED CITY OF
CARLSBAD PARCEL RECORDED AS FILE NO. 89-345768 OFFICIAL RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
SAID EASEMENT CONTAINS 2384.52 SQUARE FEET.
PARCEL 2: TEMPORARY CONSTRUCTION EASEMENT
A STRIP OF LAND 50.00 FEET WIDE LYING 25.00 FEET ON EACH SIDE AND PARALLEL TO THE CENTERLINE OF THE 15.00 FOOT WIDE EASEMENT AS DESCRIBED IN PARCEL 1 ABOVE.
THE SIDELINES OF SAID 50.00 FOOT WIDE EASEMENT SHALL BE PROLONGED
OR SHORTENED TO TERMINATE IN THE SOUTHERLY LINE OF PARCEL "F" OF PARCEL MAP 12353 ACCORDING TO MAP THEREOF RECORDED AS FILE NO. 83-
303516 AND IN THE NORTHEASTERLY LINE OF THE AFOREMENTIONED CITY OF CARLSBAD PARCEL RECORDED AS FILE NO. 89-345789 OFFICIAL RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
SUBJECT TEMPORARY EASEMENT SHALL EXPIRE WITHIN NINETY (90) DAYS OF THE FILING OF A NOTICE OF COMPLETION FOR THIS PROJECT.
976 m 0 *I
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ATTACHED HERETO AND MADE A PART OF THIS LEGAL DESCRIPTION ARE PLATS LAB EL ED EXH I B I T " B " AND EXH I B I T " C " .
THIS LEGAL DESCRIPTION AND PLAT WERE PREPARED BY ME OR UNDER MY DIRECTION.
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P CL, 'F' PM 12353
N.W. CORNER SEC. 23
NORTHERLY LINE R NORTHERLY LINE S
PARCEL NO. 2 50' TEMPORARY
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POINT S.W. OF CORNER COMMENCEMENT SEC. 23 0 ------- DENOTES PROPOSED 50' TEMP. F& CONSTRUCTION EASEMENT
4+ OF C@qo
CARLSBAD MUNICIPAL WATER DISTRICT
DENOTES PROPOSED EASEMENT AREA 2,384.52 SQ. FT.
EASEMENT PLAT VESTED IN:
AVlARA LAND ASSOCIATES DATE: 5/09/91 I SHEET 1 OF 2
ASSESSOR'S PARCEL NO. PROJECT NO. Right-of-way Engineerin Services, Inc. Civil Engineering Lan ?Surveying 215-080-24 C.M.W.D. 86-109 2103 Et Carnina Real Ste. 208 Oceanside, CA 92054 (619) 757-4443
\ a
9 78 EXHIBIT ‘C’ 1,
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SCALE t--tc@ i
PROJECT SITE-
u\ VI CI N I TY M AP
NOT TO SCALE
CARLSBAD MUNICIPAL WATER DISTRICT
VlClNlN MAP
DATE: 5/09/91 I SHEET 2 OF 2
PROJECT NO. Right-of-way Engineering Services, Inc. Civil Engineering Land Surveying C.M.W.D. 86-109 2103 El Carnino Real Ste. 208 Oceanslde, CA 92054
I (619) 757-4443