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HomeMy WebLinkAbout; Carlsbad Mutual Water Company; 0; Subordination AgreementIN QUADRUPLICATE SUBCEDIKATIOI AGRSSKEHT THIS AGSBSHSMT, a«d« this P7 day of April, 1953 f by sod'b@tw«sa CARLSBAD mUAt WATEE CCMPAIt, a eorporatlom, iormrlj Oe»aa«id« Mutual Wafcar Qmpmf, "First Party», and Mim flltE liSUK^CS Mid tlUSf COMP/mt, a corporatitii, aad BERISIET BAMK FOR CO-OPEIATIiriS, a United Statas corporation, "Saaond Parties'*, W I T If E S 3 E T Hr WKMEAS, Firat Party ia tha owaar of cartain raal property aituate in tha Couaty of San 0iag®, Stata of Califomia, particularly daaeribad aa followas All thoaa portiona of Lots »»D'» and "L" of the Raaeh© Agua Hadiondai in tha County of San Dieg©, Stata of Califomia, acaording to Map thara- of n&, i2|, filed in the Coimty SaeordarU Offlaa of Diago County, lloraatear 16, 1896, daaeribad aa followsI iaginninf at a poist ia tha Mortharly line of aaid Lot «L", whenea tha lort^aaat comer of aaid Lot ^L** haara South ^9^ a* la»t 1323*42 faatj thanea Sorth 0^ 10' 20» West 72.64 fast to tha true w>int of hagiaainfi thanca iorth 25' 20« Wast 2&^.25 faeti thaeca South 52* ll» 40« Wast B^,B9 faatj thanca South 13* 35* 40« Vaat 131.35 fe»t| tiianca South 5^* 05* 40" «®st 123.70 feat I thanea South 20'' 30» 40« Waat 90.20 faat| thanea South 47* 33' 30" Weat 346.14 faati thanoa ^©rth 5d« 19* 20« Waat 70^.04 faat| thmca iorth If* 07* 40« Baat 352.94 faat; thaaaa Ilorth |«® 55* 10« Eaat 133.60 faati thanca Korth 12° 59* 10«» laat 98.60 featj thanca Sorth 29" 04* 20« Wast 327.22 faati thanca Worth 6* 53* 20" Wast 203.55 faati th^ca iorth 7* 09» 10" laat 191.00 faati thanca South il* 59* 20« laat 97.10 faatj thaaoa South 43* 39* 50» Eaat 154*05 faatf th«aca South ^0* 11* 50** laat 119.10 faati thanca South 10* 57' Sa»* ^#52 faati thaaoa South 60* 20» Eaat 131*15 f««tl Jhaaea South 72* 5®» last 179.60 faatj thanca North 34* 41* East 151.65 faati thanca Ilorth 6* 27* laat 213.52 LUCE, FORWARD, KUNZEU & SCRIPPS SAN OIEGO 1. CALIFORNIA faati thanca Morth 66'' 43' isat 104.52 faeti thisica North 23* 05* Baat I7^,m faat| thaace Borth 6* 23* East 454.00 featI thanca Borth 55* 14' Saat 224.10 fa«%I thanca South 14*" 43' Sast 19S.05 faat| thanea Sottth 20* 46' Bast 329.80 faat| thaaea South 0* 10» 20* laat 1290.76 feat to the true point of bagimiiMii AL SO I , That portion of Lot *D" of tha tancho Agua Kadi^da, in tha County of San Diago. State of Ot^if-oriia, .&ecord:U!ig to Map tharaof No. - 823, filed iD'' tha Couaty Eaeordar's Office of aaid San Mago t^nnty, WoTanbar 16, 1^96, deacrihad aa follows: iaginaing at tha Hortbaast oomMr of Lot "L** of said Eaneho Agua Kadiondai thanea North ^9" 43' 40*' West aloag ^a liortharly line of said Lot "L" 1323«42 feat to the Hort^ end South cmtar line of the Seuthaaat Quarter of Section 34» Townl^ip 11 South« Range 4 wast, Sm Bamardlao Karidlaii, as said Settion ia ahown ea aaid Map Ifo. i$23| theaee Kort)i 0* 10* SO** West along said center line 1362.40 feet} thenee South 70* 39' last 219.67 faeti theace Iforth 65* 41* Sast 494.40 faetj thence Horth 53* 33' laat 240.75 feetI thence Horth 1* 32' Seat 76.50 faeti theace North 7^* 31* ieat 1^6.23 feet| thence South 75* 29' East 230.15 feet to a point in the Caat line of said Section 34| thanca along aaid Saaterly line South 0* 06' Saat 1676.30 feet to the point of begin* aingi and WIEIAS, First Party, aa such owner, did execute Mad deliver tn^ certaia deeda of trust, aa followi} 1. Trust deed dated April 7, 1941, executed by Carlsbad Mutual Water Coiii^y'to fiiiiem: Title Innlirlpee asd Truat Ccmpany, Trustee, to secure an indebtadnass of 1100,000.00 in favor of Ben&eley Bank for Co«K>parati've8, a United Statea corporation, recorded April 9, 1941 in Book 1153 at Page 3^4 of Official Records of San Difi^o Couaty, Californiai 2. A deed of truat dated Sapteielier 26, 1947 exeeuted by Carlsbad Mutual Water Company to Union Title Inaurance and Trust Compaiiy, Trustee, to secure an - 2 - indebtedaess of 1^1^3,000,00 in favor of Borkalay Bank for Co-operatives recorded Octob-sr 2, 1947 in look 25031 P*ge,355 of Official Recordsj and WHEEEAS, the partite hereto desirS' to subordi- nate, said trust deeds and the lim thereof as hwreinafter aat forth to a certain p'ant of easement of ri#t of way executed by First Party to San Piego Oas k Sleetric'Gostpw^y., a corporation, and dated April P>? . 1953 coverJjag a portion of the hereinabove deacribed laada a^d premises and beiag 1|0 feet in width} TElIEFCEE, the. parties hereto, in consider- ation of the prenisas and of the ttutmal benefits to be derived by them for the a^eea»tnta herein contained, do hereby agree that said grant of easeiE^t of right of way made by First Party to "San l>ie^: Oas & 'Electric Ceapany, a corporation, dated April ^ . 1953 covering the follow^ ing described portion of the laads and pi^iaaa hereinabove deacribed, to wit: im easement of right of way 150 feet Sti width deacribed aa followst - The Morthwesterly line of said right of way lAiall be parallel with and 110 feet iorthweaterly, measured at right aaglaa, aad the SomtlMaaterly line ahaUbe parallel with and 40 feet Southeaaterly, measured at ri|;ht angles, from the following deacribed linat Cosmeneiag at a point oa the Southwesterly line of Lot 106 of Tract io. '2 Of laaeho Rar fista, aa per «ap thereof io.. 2069 oa file im the office ^of the 3aB. Diego County Eeeorder. «rhich point' is Southeasterly a distance of 79.®I feet from the iooat Westerly' comer of said Lot 1#6, aad which -3 - point is alao a point on the Northeasterly line of said Ruieho Ague Hedioada, distant thereon Southeaaterly 2575.30 feet from Comer Ho. 3 of eaid lliiaeho Ague Hedioada, aa aaid Comer Ko. 3 ia showa on the map of aaid Rancho Mar Vistai theace from said point 36i»th 57*^ 04* 54^ West, a dittaace of 406($.69 feet} theace Souxk 65« 47' 04" West, a diataace of 229t.42 feet| theace South 2d* 4^' 24" West, a diatance of d#6S.32 feet to a point on the Southerly liae of Lot 1. of said Haaebo 4gua Hedioada, distant tbereeii 123.64 feet Southeasterly from Comer Ho. 3, of aaid Lot £, aad which point is the true poiat of begiaBiag ef the right ef way hereia deacribed{ thence from aaid true point Of besianing Korth 2$* 4^' 24** Sast a diataace of f^Mtl,}Z feet: thence ilorth 65* 47' 04" East a distance of 910 feet more or less to the Northerly line of the above deacribed property| ixceptiag from the ebove described rii^t of wa^ aay portioas thereof aot lyiag withia the above deacribed l^nda of the Firat Party hereia} Said Morthiiesterly and Southeasterly lines of said right of way rtiall be leagthened aa^or shorteaed so as to termiaate aaid lines in the boiMdaries of the above deacribed property i ahall be and said easement of right of way ia hereby made paramouat to aaid deede of truat aad the lien thereof| that aaid deeds of trust and each of tha aame are hereby subordinated to the aaid grant of easement of rii^t of way to San Diego Oas lii llectric Company, a corporation, mid in the event of forecloaurea of aaid deeda of tmst or either of the aame t^e Tmatee'a salee, or aale, aad c^aveyaace thereunder of the landa deecribed therein i^all be subject to said grant of right of way to Ssn Diego Gaa Jr. EXeetric Company^ a corporation. ,W WITlilss VKEEEOF, the parties hereto have caused this iastrumeat to be executed by their reapeetive *" 4 ^ officers thereunto duly authorised the day and year firat above written. CARLSBAD MUTUAL WATE-E COMPAKY, a corporation, formerly Oceanside Mutual Water Company, By By President 'Secretary First Party UNION TITLE IK3URAHCS AKD HIU ST COMFAKY, a corporation, BERKELEY BAI^K FOR CO-CDPERATI?ES, a United Statea corporation, B3^ Vice President Treasltrer Second Parties - 5 - STATE OF CALIFOREIA COUKTT OF SAR DISGO c c On this 7 7 day of 1953, before me, a Notary Public in and for said /County and State, perscmally appeared E. G. Kentner and C. E. Trvgg known to »e to be the Freslden$ and Secretary" . respectively of the corporation that executed the within instrument, and acknowledged to me that such corporation executed the same. Kotary Public in and for a/dd County and State. , ^ . , . ^„ .^sf ' My Commission fcxpire* fe A- ^-0, If * ' STATE CF CALIFORHIA COUKTY OF SAK DI£Q0 On This day of . 1953, before me, the undersigned, a Notary Public in and for said County and State, personally appeared and ""."known to me to'be tKe and! ' '"respectively of the corporation that executed the within instrument, ^ and acknowledged to me that such corporation executed the saEae. STATE QF CALIFORKIA COUNTY OF Kotary Public in and for said County and State the and On this vip^ day of 1953, before me, undersized, a Notary Public in' and for said County State, personally Jippeared Ar /<,h-*v-f--^^ and State, personaM-y Jip ^- /fekj^ kaoiim to me io be the lyk^ respective of the corporation that executed the within instrument, and acknowledged to me that such corporation executed the sai^e • liotary Public in for said County and Stat© - 6