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Home My WebLink About97-257; Carlsbad Business Park; 1998-0198387; Subordination Agreement130C # 1998-0198387’ . .. RECORDING REQUESTED BY Carlsbad Business Park, LLC AND WHEN RECORDED, PLEASE MAIL TO Carlsbad Municipal Water District 5950 El Carnino Real Carlsbad, California 92008 1 \. .. p\ Please record the document at no fee as it is to the benefit of the District (Gov. Code [6103].) QPR 08. 1998 4~55 PM FEES: 0.00 324 I Space above this line for Recorder’s use. ASSESSOR’S PARCEL NO. 212-130-36 PROJECT NO. & NAME: 97-257. The Carlsbad Suectrum SUBORDINATION AGREEMENT (TRUST DEED HOLDERS) NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING WHICH YOUR SECURITY INSTRUMENT AlTACHES AND SUBJECT TO (AN) EASEMENT IN THE REAL PROPERTY TO OF YOUR SECURITY INTEREST. HAS THE POTENTIAL EFFECT OF REDUCING THE VALUE THIS AGREEMENT, made this &day of 2- &‘En ,19=. by CARLSBAD BUSINESS PARK, LLC. a California limited liabilitv comuanv , owner of the land described and hereinafter referred to as “Owner,” and HAVERFORD FINANCIAL GROUP. L.L.C.. a Delaware limited liabilitv comuany, present owner and holder of the deed of trust hereinafter described, hereinafter referred to as “Beneficiary;” b WITNESSETH THAT WHEREAS, CARLSBAD BUSINESS PARK. LLC. a California limited liabilitv comoanv did execute a deed of trust, dated SeDtember 3, 1997 to FIRST AMERICAN TITLE INSURANCE COMPANY. a California 10/20/97 Rev. i ,. . 325 corporation. as trustee, to secure a note in the sum of (Not Shown) [$ (Not Shown) ) dated SeDtember 3. 1997 in favor of Havetford Financial Group, L.L.C.. a Delaware limited liabilitv company recorded in the office of the County Recorder of San Diego County on September 8. 1997 as File No. 1997-0434690 of Official Records of said county; and WHEREAS, Owner has executed, or is about to execute, as grantor, a grant of EASEMENTEASEMENTS dated , in favor of the Carlsbad Municipal Water District as grantee, hereinafter referred to as "Easement J+!" Grantee." creating AN/THE EASEMENT/EASEMENTS more particularly described in EXHIBIT/EXHIBITS "A" 8 "B attached hereto; and WHEREAS, Easement Grantee is willing to accept said EASEMENT/EASEMENTS provided the grant of EASEMENnEASEMENTS is a charge upon the above described property prior and superior to the lien or charge of the deed of trust above mentioned and provided that beneficiary will specifically and unconditionally subordinate the lien or charge of the deed of trust above mentioned to the lien or charge of the EASEMENnEASEMENTS created in favor of Easement Grantee; and WHEREAS, it is to the mutual benefit of the parties hereto that Easement Grantee accept said EASEMENT/EASEMENTS and Beneficiary is willing that the grant of EASEMENT/EASEMENTS shall, when recorded, constitute a charge upon said land which is unconditionally prior and superior to the lien or charge of the deed of trust above mentioned. NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Easement Grantee to accept said EASEMENT/EASEMENTS above referred to, it is hereby declared, understood and agreed as follows: 1. That said EASEMENT/EASEMENTS in favor of Easement Grantee shall unconditionally be and remain at all times a charge on the property therein described, prior and superior to the lien or charge of the deed of trust above mentioned. 2. That Easement Grantee would not accept said EASEMENT/EASEMENTS above described without this subordination agreement. 3. That this agreement shall be the whole and only agreement with regard to the subordination of the 2 10/20/97 Rev. 326 lien or charge of the deed of trust above mentioned to the EASEMENTIEASEMENTS in favor of Easement Grantee above referred to and shall supersede and cancel, but only insofar as would affect the priority between the deed of trust and EASEMENTIEASEMENTS hereinbefore specifically described, any prior agreement as to such subordination including, but not limited, those provisions, if any, contained in the deed of trust above mentioned, which provide for the subordination of the lien or charge thereof to another interest in the real property therein described. BENEFICIARY declares, agrees and acknowledges that: 1. I (We) consent to and approve the grant of EASEMENTIEASEMENTS in favor of the Easement Grantee. 2. I (We) intentionally and unconditionally subordinate the lien or charge of the deed of trust above mentioned to the EASEMENTIEASEMENTS in favor of Easement Grantee above referred to and understands that in reliance upon, and in consideration of, this subordination of the grant of EASEMENTIEASEMENTS is being executed and delivered, the EASEMENTIEASEMENTS ISIARE being created, and that specific monetary and other obligations are being and will be entered into by the Easement Grantee, other lenders and title insurance companies which would not be made or entered into but for said reliance upon the subordination; and Ill Ill Ill Ill 111 111 Ill Ill 111 Ill Ill Ill 111 3 10120197 Rev. '. .. .. 327 3. This agreement represents an endorsement to the note secured by the deed of trust above mentioned that said deed of trust has by this instrument been subordinated to the charge of the EASEMENTlEASEMENTS in favor of Easement Grantee above referred to: Executed this b C h day of De &in\% 1' 19%. BENEFICIARY: HAVERFORDflCgRY], L.C., a Delaware limited liabili co pa By: (authorized signature) ad6 Rlenlb (name) By: (Ziinature) John S. Long (name) Its: Managing Partner (title) A4 Executed this 2f day of A/oI"&%C , 19x. OWNER: CARLSBAD BUSINESS PARK, LLC, a California limited liability company By: The Koll Company, a California corporation its Managing Member By: (authorized Signature) By: Its: (Proper notarial acknowledgement of execution of OWNER and BENEFICIARY must be attached.) SIGN A CORPORATE EXECUTION OF THIS DOCUMENT. ALTERNATELY A TRUE COPY OF THE RESOLUTION NOTE THAT THE PRESIDENT OR VICE-PRESIDENT AND THE SECRETARY OR ASSISTANT SECRETARY MUST OF THE BOARD OF DIRECTORS THAT IS SIGNED BY THE SECRETARY OR ASSISTANT SECRETARY OF THE CORPORATION, UNDER CORPORATE SEAL SPECIFICALLY EMPOWERING THE INDIVIDUAL SIGNING IN BEHALF OF THE CORPORATION WILL SHOW SUFFICIENT AUTHORITY OF SAID INDIVIDUAL TO ACT IN THIS MATTER. IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR AlTORNEYS WITH RESPECT THERETO. Approved as to form: RONALD R. BALL, General Counsel By: CMWD 97-257 10/20/97 Rev. 4 328 SEPTEMBER 9, 1997 REVISED: OCTOBER 9, 1997 J.N.: 97-1008 EXHIBIT "A" WATER EASEMENT AT PARCEL A OF PM NO 17209 PARCEL 1: ALL THAT PORTION OF PARCEL A IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO PARCEL M7Q THEREOF NO, 17209, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY OF SAN DIEGO, SEPTEMBER 3, 1993 AS FILE NO. 1993-0584478 OF OFFICIAL RECORDS, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST WESTERLY CORNER OF SAID PARCEL A, SAID POINT BEING THE BEGINNING OF A 1158 .OO FOOT RADIUS CURVE, CONCAVE TO THE NORTHEAST, A RADIAL TO SAID POINT BEARS SOUTH 28'33'58" WEST; THENCE SOUTHEASTERLY ALONG THE SOUTHERLY LINE OF SAID PARCEL A AND ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 02"31'28", AN ARC DISTANCE OF 51.02 FEET TO THE TRUE POINT OF BEGINNING; THENCE LEAVING SAID SOUTHERLY LINE AND NON-TANGENT TO SAID CURVE, NORTH 25"41'39" EAST, 91.07 FEET; THENCE NORTH 28"36'34" EAST, 172.78 FEET; THENCE NORTH 35"50'53" EAST, 149.18 FEET; THENCE SOUTH 54"09'07" EAST, 174.31 FEET; THENCE NORTH, 35'50'53" EAST, 276.26 FEET; THENCE NORTH 54"09'07" WEST, 11.86 FEET; THENCE NORTH 35"50'53" EAST, 20.00 FEET; THENCE SOUTH 54"09'07" EAST, 11.86 FEET; THENCE NORTH 35"50'53" EAST, 299.00 FEET; THENCE NORTH 54"09'07" WEST, 11.86 FEET; THENCE NORTH 35"50'53" EAST, 20.00 FEET; THENCE SOUTH 54"09'07" EAST, 11.86 FEET; THENCE NORTH 35O50'53" EAST, 238.32 FEET; THENCE NORTH 35'50'53" EAST, 218.32 FEET; THENCE NORTH 54'09'07" WEST, 10.00 FEET; THENCE NORTH 35"50'53" EAST, 20.00 FEET; THENCE SOUTH 54°09'07" EAST, 10.00 PAGE 1 OF 4 329 SEPTEMBER 9, 1997 REVISED: OCTOBER 9, 1997 J.N. : 97-1008 FEET; THENCE NORTH 35'50'53" EAST, 94.50 FEET; THENCE SOUTH 54"09'07" EAST, 279.28 FEET; THENCE SOUTH 25'51'04" EAST, 235.92 FEET; THENCE SOUTH 35'50'53" WEST, 66.39 FEET; THENCE SOUTH 54°09'07" EAST, 21.54 FEET; THENCE SOUTH 35°50'53" WEST, 20.00 FEET; THENCE NORTH 54"09'07" WEST, 21.54 FEET; THENCE SOUTH 35'50'53" WEST, 288.62 FEET; THENCE SOUTH 54°09r07" EAST, 127.00 FEET; THENCE SOUTH 35'50'53'' WEST, 48.75 FEET; THENCE NORTH 54'09'07" WEST, 20.00 FEET; THENCE NORTH 35'50'53'' EAST, 28.75 FEET; THENCE NORTH 54"09'07" WEST, 85.99 FEET; THENCE SOUTH 35'50'53'' WEST, 14.24 FEET; THENCE NORTH 54"09'07" WEST, 21.01 FEET; THENCE SOUTH 35"50'53" WEST, 368.95 FEET; THENCE SOUTH 54'09'07'' EAST, 26.03 FEET; THENCE SOUTH 35'50'53'' WEST, 20.00 FEET; THENCE NORTH 54"09'07" WEST, 23.72 FEET; THENCE SOUTH 05°50'53" WEST, 33.54 FEET; THENCE SOUTH 26'15'43" EAST, 15.83 FEET TO THE BEGINNING OF A 60.00 FOOT RADIUS NON-TANGENT CURVE, CONCAVE TO THE SOUTH, SAID POINT ALSO BEING A POINT ON THE NORTHERLY RIGHT-OF-WAY OF VAN ALLEN WAY, A RADIAL TO SAID POINT BEARS NORTH 14'38'44" EAST; THENCE WESTERLY, ALONG SAID CURVE AND ALONG SAID NORTHERLY RIGHT-OF-WAY, THROUGH A CENTW ANGLE OF 19"05'56", AN ARC DISTANCE OF 20.00 FEET; THENCE LEAVING SAID NORTHERLY RIGHT-OF-WAY AND NON-TANGENT TO SAID CURVE, NORTH 26"15'43" WEST, 16.01 FEET; THENCE NORTH 05"50'53" EAST, 43.63 FEET; THENCE NORTH 35"50'53" EAST, 154.81 FEET; THENCE NORTH 35°50'53" EAST, 632.81 FEET; THENCE NORTH 25°51'04" WEST, 171.52 FEET; THENCE SOUTH 64°08'56" WEST, 13.00 FEET; THENCE NORTH 25O51'04" WEST, 20.00 FEET; THENCE NORTH 64'08'56'' EAST 13.00 FEET; THENCE NORTH 25°51'04" WEST, 27.41 FEET; THENCE NORTH 54°09'07" WEST, 254.24 FEET; THENCE SOUTH 35°50'53" WEST, 1082.00 FEET; THENCE SOUTH 54"09'07" EAST, 353.45 FEET; THENCE SOUTH PAGE 2 OF 4 330 SEPTEMBER 9, 1997 REVISED: OCTOBER 9, 1997 J.N. : 97-1008 76"39'07" EAST, 49.72 FEET; THENCE SOUTH 29"15'43" EAST, 34.55 FEET; THENCE SOUTH 63'44'17'' WEST, 20.03 FEET; THENCE NORTH 29"15'43" WEST, 24.72 FEET; THENCE NORTH 76"39'07" WEST, 44.92 FEET; THNECE NORTH 54°09'07" WEST, 136.78 FEET; THENCE SOUTH 35"43'18" WEST, 12.68 FEET; THENCE NORTH 54O16'42" WEST 20.00 FEET; THENCE NORTH 35"43'18" EAST, 12.72 FEET; THENCE NORTH 54°09'07" WEST, 86.73 FEET; THENCE SOUTH 35'50'53" WEST, 70.00 FEET; THENCE NORTH 54°09'07" WEST, 20.00 FEET; THENCE NORTH 35"50'53" EAST, 70.00 FEET; THENCE NORTH 54"09'07" WEST, 93.92 FEET; THENCE SOUTH 3S050'53" WEST, 84.40 FEET; THENCE NORTH 54°09'07" WEST, 174.31 FEET; THENCE SOUTH 35"50'53" WEST, 6.08 FEET; THENCE SOUTH 54"09'07" EAST, 9.51 FEET; THENCE SOUTH 35"50'53" WEST, 20.00 FEET; THENCE NORTH 54'09'07" WEST, 9.51 FEET; THENCE SOUTH 35°50'53" WEST, 101.84 FEET; THENCE SOUTH 28"36'34" WEST, 129.16 FEET; THENCE SOUTH 61'23'26'' EAST, 10.00 FEET; THENCE SOUTH 28"36'34" WEST, 20.00 FEET; THENCE NORTH 61"23'26" WEST, 10.00 FEET; THENCE SOUTH 28"36'34" WEST, 20.10 FEET; THENCE SOUTH 25'54'54'' WEST 41.10 FEET; THENCE SOUTH 64"12'21" EAST, 15.80 FEET; THENCE SOUTH 25'47'39'' WEST, 20.00 FEET; THENCE NORTH 64'12'21'' WEST, 15.80 FEET; THENCE SOUTH 25'47'39" WEST, 31.15 FEET TO THE BEGINNING OF A 1158.00 FOOT RADIUS NON-TANGENT CURVE, CONCAVE TO THE NORTHEAST, SAID POINT ALSO BEING A POINT ON THE SOUTHERLY LINE OF SAID PARCEL A, A RADIAL TO SAID POINT BEARS SOUTH 25°03'07" WEST; THENCE NORTHWESTERLY, ALONG SAID CURVE AND ALONG SAID SOUTHERLY LINE OF PARCEL A, THROUGH A CENTRAL ANGLE OF 00"59'23", AN ARC DISTANCE OF 20.00 FEET TO THE TRUE POINT OF BEGINNING. AREA = 1.80 ACRES PAGE 3 OF 4 ,.. 331 SEPTEMBER 9, 1997 REVISED: OCTOBER 9, 1997 J.N. : 97-1008 PARCEL 2: ALL THAT PORTION OF PARCEL A IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO PARCEL MAP THEREOF NO. 17209, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY OF SAN DIEGO, SEPTEMBER 3, 1993 AS FILE NO. 1993-0584478 OF OFFICIAL RECORDS. MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE CENTERLINE INTERSECTION OF FARADAY AVENUE AND VAN ALLEN WAY; THENCE ALONG SAID CENTERLINE OF VAN ALLEN WAY NORTH 36O31'58" EAST, 75.17 FEET; THENCE NORTH 53"28'02" WEST, 36.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE NORTH 57'13'53'' WEST, 43.61 FEET; THENCE NORTH 32'46'07'' EAST, 20.00 FEET; THENCE SOUTH 57'13'53'' EAST, 44.93 FEET; THENCE SOUTH 36"31'58" WEST, 20.04 FEET TO THE TRUE POINT OF BEGINNING. AREA = 0.02 ACRES F:\MSOFFICE\WTNWORD\W-~OO~\WEMT.LGL PAGE 4 OF 4 DATA TABLE NO. IDELTA OR BEARINGIRADIUS I LENGTH DATA TABLE NO. IDELTA OR BEARING~RADIUS I LENGTH 333 c I 8-7- "" -?-I- ,,CUI" &- I WATER EASEMENT PREPARED BY: SHT. 2 OF 2 m13. A,P.N, 212-130-36 A JOLLA. CA 92037 IRkE. 27: .: 334 STATE OF CALIFORNIA 1 Lb\.eeF, lss. COUNTY OF 1 On \\\7.\ \y 3, before me, -loc&n ’3. bziw A &“ 4 dl c 0 DATE NAME ANb TITLE OF OFFPER personally appeared NAME(S) OF SIGNER@) OR - ” proved to me on the basis of satisfactory evidence to be the person(s) whose narne(s) islare subscribed to the within instrument and acknowledged to me that he/she/they executed the same in hislherltheir authorized capacity(ies), and that by hislherltheir signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. /”-I (This area for official notary seal.) I Title or Type of Document $ !b&& I Signer(s) other than named above I 06/14/95 Rev. " <. 335 STATE OF CALIFORNIA 1 COUNTY OF v\ukt%* Loli P \ss. personally appeared David (3% 0len~o NAME(S) OF SIGNER@) personally known to me - OR - "- nn the PersonNwhose name& isLw&ubscribed to the within instrument and acknowledged to me that he/4sClkeyexecuted the same in hiss authorized capacity& and that by his/@d#@fsignatureHon the instrument the personN or the entity upon behalf of acted, executed the instrument WITNESS my hand and official seal. fldG?&M, SIGNATURE OF( OTARY (This area for official notary seal.) Title or Type of Document 5U'O Crdl I?bi%Vl bWfA?V%d Date of Document No.ofPages 'ind Wh lb1fi Signer(s) other than named above -5IL)II d %LL%Y\ey-, &T% ; LLC c CMWD 97-257 06/14/95 Rev. State of California County of Los Angeles On /" /q' l76 before me, [&&&5Z/d /e$yj?:r&p/ (Name and Title of Officer) onally appeared -JJkL!Y g &QTdT known to me - OR - - proved to me on the basis of satisfactory the person@ whose name@$ is/- subscribed to the within instrument and acknowledged to me that he/- executed the same in his/ ' authorized capacity(#, and that by his/ ' signatureX$I on the executed the instrzhe or the entity upon behalf of thzthe persondacted, / WITNESS my hand and official seal. I. . . .. . ., CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT personally appeared hislherltheir signature@) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature of Nary Public Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer@) 0 Individual 0 Corporate Officer 0 Partner - 0 Limited 0 General 0 Guardian or Conservator Signer Is Representing: 0 1994 National Nolaw Asmialion .82% Rernrnel Ave., P.0. Box 7184. Canwa Pah, CA 91309-7184 Prod. No. 5907 Reorader: Call Toll-Free 1-woa76f Signer's Name: 0 Individual U Corporate Officer Title(s): 0 Partner - 0 Limited 0 General U Attornev-in-Fact Trustee- 0 Guardian or Conservatoi U Other: I I Signer Is Representing: I1 I I I