HomeMy WebLinkAbout97-257; Carlsbad Business Park; 1998-0198388; Subordination AgreementRECORDING REQUESTED BY
Carlsbad Business Park, LLC 338 FEES: 0.M)
AND WHEN RECORDED, PLEASE MAIL TO
Carlsbad Municipal Water District
Carlsbad, California 92008
\ 5950 El Camino Real
I
i Please record the document at no fee as it is to the
benefit of the District (Gov. Code [6103].)
I
Space above this line for Recorder’s use.
ASSESSOR’S PARCEL NO. 212-130-36
PROJECT NO. & NAME: 97-257. The Carlsbad SDectrum
SUBORDINATION AGREEMENT
(TRUST DEED HOLDERS)
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING
SUBJECT TO (AN) EASEMENT IN THE REAL PROPERTY TO
WHICH YOUR SECURITY INSTRUMENT ATTACHES AND HAS THE POTENTIAL EFFECT OF REDUCING THE VALUE
OF YOUR SECURITY INTEREST.
THIS AGREEMENT, made this &’day of bk3H . 19 77 , by CARLSBAD BUSINESS PARK, Ilc
LLC. a California limited liabilitv comDany, owner of the land described and hereinafter referred to as “Owner,” and
HAVERFORD FINANCIAL GROUP, L.L.C.. a Delaware limited liabilitv comDany, present owner and holder of the
deed of trust hereinafter described, hereinafter referred to as “Beneficiary;”
WITNESSETH
THAT WHEREAS, CARLSBAD BUSINESS PARK, LLC. a California limited liabilitv comDanv did execute
a deed of trust, dated SeDtember 3, 1997 to FIRST AMERICAN TITLE INSURANCE COMPANY. a California
10/20/97 Rev.
339
corDoration as trustee, to secure a note in the sum of Seven Million. One Hundred Twentv-Five Dollars
[$7.125,000.00) dated SeDtember 3. 1997 in favor of HAVERFORD FINANCIAL GROUP. L.L.C.. a Delaware limited
liability comDany recorded in the office of the County Recorder of San Diego County on SeDtember 8.1997 as File NO.
19974434693 of Official Records of said county; and
4+!=
WHEREAS, Owner has executed, or is about to execute, as grantor, a grant of EASEMENT/EASEMENTS dated
, in favor of the Carlsbad Municipal Water District as grantee, hereinafter referred to as "Easement
Grantee," creating AN/THE EASEMENnEASEMENTS 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
EASEMENT/EASEMENTS 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 EASEMENT/EASEMENTS created in favor of
Easement Grantee; and
WHEREAS, it is to the mutual benefit of the parties hereto that Easement Grantee accept said
EASEMENnEASEMENTS and Beneficiary is willing that the grant of EASEMENTlEASEMENTS 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 EASEMENnEASEMENTS 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.
..
340
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
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3 10120197 Rev.
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341
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 EASEMENT/EASEMENTS in favor of
Easement Grantee above referred to:
Executed this \b i-'r\ day of DCCeW\btY
1947.
BENEFICIARY: HAVERFORD FINAN g6 L G OUP @.3 a Delaware
limited liability co
By:
auth rized signature) wa rwb
(name)
Its: ylLm& #
"(title)
By:
John S. Long
(name)
Its: Ehnaging Partner
(title)
this a/ - day of Mh!!0= , pt-
OWNER:
CARLSBAD BUSINESS PARK, LLC, a California
limited liability company
By: The Koll Company, a California corporation
its Managing Member
By:
(authorizedkignature)
Its: .$c'.lrsuJ e. mw, v- ?- ,'
(name and title)
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 ATTORNEYS WITH RESPECT THERETO.
Approved as to form:
RONALD R. BALL. General Counsel
By:
CMWD 97-257
10/20/97 Rev. 4
342
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 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 MOST WESTERLY CORNER OF SAID PARCEL A, SAID
POINT BEING THE BEGINNING OF A 1158.00 FOOT RADIUS CURVE, CONCAVE
TO THE NORTHEAST, A RADIX 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 25O47'39" EAST, 91.07 FEET; THENCE NORTH 28'36'34" EAST,
172.78 FEET; THENCE NORTH 35"50r53" 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"50f53" 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
35'50'53" 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
343
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°51'04n 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 54e09'07" 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°50t53" EAST, 28.75
FEET; THENCE NORTH 54O09'07" 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°50153" WEST, 33.54 FEET; THENCE SOUTH 26O15'43" 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 CENTRAL ANGLE OF
19°05t56vr, 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"50'53n 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
25°51r04" 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°09'07f1 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
..
344
SEPTEMBER 9, 1997
REVISED: OCTOBER 9, 1997
J.N. : 97-1008
76"39'07" EAST, 49.72 FEET; THENCE SOUTH 2g015'43" 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 54'16'42" 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 35"50'53" 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°36134" 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
OF 20.00 FEET TO THE
AREA = 1.80 ACRES
CENTRAL ANGLE
TRUE POINT OF
OF 00"59'23", AN ARC DISTANCE
BEGINNING.
PAGE 3 OF 4
345
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 36'31'58" EAST, 15.17 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\WINWORD\9l-l008\WEMT.LGL
PAGE 4 OF 4
I ?€QUESTED BY: REG-OC, L.P. 275 EXECUTM SQUARE UTE 240
4 JOLLA, CA 92037
NO. IDELTA OR BEARING/ RADIUS I LENGTH 347
m-rn -- EXHIBIT B "- -64
.Iw)I" 5% WATER EASEMENT SHT. 2 OF 2 SHE.
?€QUESTED BY: REG-OC, L.P. PREPARED BY:
275 EXECUTM SQUARE PATW N. O'DAY A,P,N, 212-130-36
UTE 240 4&59 C.M.W.D. 97-257
4 JOLLA, CA 92037 RkE. 272a EXP. 3/31/dl DATE 10-9-97
EXHIBIT B
WATER EASEMENT
I PREPARED BY: I I PATW N. O'DAY I C.M.W.D.
RkE. 272a EXP. 3/31/dl 3 97-257
SHT. 2 OF 2 SHE.
A,P,N, 212-130-36
348
STATE OF CALIFORNIA 1
personally appeared
NAME@) OF SIGNER@)
OR - " proved to me on the basis of satisfactory evidence to be the person@) whose narne(s)
islare subscribed to the within instrument and acknowledged to me that helshelthey 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 Dersonfsl acted. executed the instrument .,
WITNESS my hand and official seal.
(This area for official notary seal.)
.
Title or Type of Document bAY?&& ACerneL\-3L
Date of Document // 21 /9? No. of Pages ,H )<A. &&wA
Signer(s) other than named above
06/14/95 Rev.
349
STATE OF CALIFORNIA 1
COUNTY OF !/os k,/7 1 lss.
personally appeared Y) Avid 15, Dk.\W>
NAME(S) OF SIGNER@)
personally known to me - be the person)$whose name),$,
is&w’subscribed to the within instrument and acknowledged to me that he/- executed the same in hiskw#b&
authorized capacityw and that by his-signatureF on the instrument the personw or the entity upon behalf of
which the person acted, executed the instrument. F
WITNESS my hand and official seal.
- mn& &MLW SlGNAtUkE OqjOTARY
(This area for official notary seal.)
Title or Type of Document ~IA~P~GTM+I m w,n~
Date of Document NO. of Pages \D incl . rkh 1hyt5
Signer@) other than named above _L4Ylsbud 3ll5WS5 ?@k , I,!&
CMWD 97-257
06/14/95 Rev.
.. I ;
350
State of California
County of Los Aneel@
on //I ./I ‘;7 % before me, C& L i Ef,d dq. &y- &e/=/ ~
(Name and Title of Officer) I
personally appeared J%$$iJ j. &‘y7&
personally known to me - OR - - proved to me on the basis of satisfactory
gdence to be the persony whose name(kf is/* subscribed to the withi:
instrument and acknowledged to me that he/skeftPt@p-executed the same in
his/hes,&e+authorized capacityw; and that by his/M&hek4gnatureH on the
executed the
instrument the or the entity upon behalf of the which the personed,
WITNESS my hand and official‘seal.
.
his/her/their signature@) on the instrument the person@),
or the entity upon behalf of which the person(s) acted,
executed the instrument.
WITNESS my hand and official seal.
atum 01 Notary Public
Though the information below is not required by law, it may prove valuable to persons reiying on the document and could prevent
fraudulent removal and reattachment of this form to another document.
Document Date:
Capacity(ies) Claimed by Signer(s)
0 Individual
0 Corporate Officer
0 Partner - 0 Limited 0 General
0 Attorney-in-Fact
0 Guardian or Conservator
Signer Is Representing:
0 1984 National Notary Asy~c~ation 6236 Remmet Ave., PO. Box 7184 * Canoga Pah, CA 91309~71W Prod. NO. 5907 Reorder: CallToil-Free 1-800-876-t
0 Individual
0 Corporate Officer
0 Partner - 0 Limited 0 General
Title@):
0 Attorney-in-Fact
0 trustee^
[3 Guardian or Conservator
[3 Other:
Signer Is Representing:
I I