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
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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
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PP.lrlCIP,\l Oll'ICE !i·•l
St.:! o::r:o C01JtHY
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