HomeMy WebLinkAboutCT 85-35; Aviara Land Associates LP; 1992-0133697; Subordination Agreement1
2
3
4
5
* -;p qay>-p!.> . ..
'hd,2 tj+ &f;L vi,$ 748
1. 2 -~ < - --€4 ' jy r*- * ;51- .. 1 i - $'?'L - ---7 G -=A 7 :: 5 ii 7
0
-I PLEASE RECORD THIS DOCUMENT AT 1 c I
NO FEE AS IT IS TO THE BENEFIT 1
1 RECORDING REQUESTED AND 1
WHEN RECORDED, PLEASE MAIL TO 1 1 Carlsbad Municipal Water District 1 5950 El Camino Real 1
OF THIS DISTRICT (GOV. CODE [6103]). 1
19
20
21
22
23
24
25
26
27
28
of the deed of trust hereinafter described;
WITNESSETH
THAT WHEREAS, Aviara Land Associates Limited Partnership
(Trustor)
did execute a deed
trust, dated December 20 , 19 - 88 to First Interstate Rank (Date) (Trustee)
of California as trustee, covering
Aviara Golf Course Clubhouse, Carlsbad Tract 85-35
(Brief Legal Description)
(See Exhibit "A" & "E" for Detailed Description)
1 3/ 2 6/9 1
1
2
3
4
5
6
7
8
g
10
0 0749
to secure a note in the sum of One Hundred Twenty-Five Million Doll?
........................ ($ 125,000,000.00 ) dated December 20,
1988, in favor of First Interstate Bnk of California reco
in the office of the County Recorder of co
on December 23, 1988 , as File No. 88-661636 of Offi
Records of said county; and
(Lien Amount)
(Date)
(Beneficiary)
San Dieqo (County)
(Date Recorded) (F/P No.)
WHEREAS, Owner has executed, or is about to execute
grantor, a grant of EASEMENT/EASEMENTS dated
favor of Carlsbad Municipal Water District as grar
hereinafte ferred to as IIEasernent Grantee,” creating Al
ENTS more particularly described in EXHIBIT/EXHI
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
WHEREAS, Easement Grantee is willing to accept
EASEMENT/EASEMENTS provided the grant of EASEMENT/EASEMENTS
charge upon the above described property prior and superior tc
lien or charge of the deed of trust above mentioned and pro1
that beneficiary will specifically and unconditionally subord:
the lien or charge of the deed of trust above mentioned to the
or charge of the EASEMENT/EASEMENTS created in favor of Easc
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 ben
accruing to the parties hereto and other valuable considera
2 3/ 2 6/9 1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
0 * 750
the receipt and sufficiency of which consideration is he
acknowledged, and in order to induce Easement Grantee to ac
said EASEMENT/EASEMENTS above referred to, it is hereby decle
understood and agreed as follows:
1. That said EASEMENT/EASEMENTS in favor of Easc
Grantee shall unconditionally be and remain at all times a cl
on the property d superior to the
or charge of the trust above mentioned.
hat Easement Grantee would n
EASEMENT/E above described without this
agreement.
agreement shall be the whole and
agreement with regard to the subordination of the lien or char(
the deed of trust above mentioned to the EASEMENT/EASEMEN?
favor of Easement Grantee above referred to and shall supersed
cancel, but only insofar as would affect the priority betweel
deed of trust and EASEMENT/EASEMENTS hereinbefore specific
described, any prior agreement as to such subordination incluc
but not limited, those provisions, if any, contained in the de
trust above mentioned, which provide for the subordination 0:
2o I 21
22
23
24
25
26
27
28
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 granl
EASEMENT/EASEMENTS in favor of the Easement Grantee.
He intentionally and unconditionally wa
relinquishes and subordinates the lien or charge of the del
trust above mentioned to the EASEMENT/EASEMENTS in favc
2,
3/26/92 3
1
2
3
4
5
e * 751
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:
24
25
26
27
28
NOTE THAT THE PRESIDENT OR VICE-PRESIDENT AND THE SECRETAI
ASSISTANT SECRETARY MUST SIGN A CORPORATE EXECUTION OF
DOCUMENT. ALTERNATELY A TRUE COPY OF THE RESOLUTION OF THE
OF DIRECTORS THAT IS SIGNED BY THE SECRETARY OR ASSISTANT SECR
OF THE CORPORATION, UNDER CORPORATE SEAL SPECIFICALLY EMPOW
THE INDIVIDUAL SIGNING IN BEHALF OF THE CORPORATION WILL
SUFFICIENT AUTHORITY OF SAID INDIVIDUAL TO ACT IN THIS MATTE
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF
4 3/26/91
- "L4 - 7 STATE OF ~)ORNIA iss. @ L COUNTYO ORANGE }
C
' g On November 21, 1991 before me, Geraldine M. Carper ,
I (0 i u s personally appeared Carolyn J. Kellis and Nancy Dressler I IF c personally known to me (or proved 3 E to me on the basis of satisfactory evidence) to be the person@) whose name@) dare subscrrbed to the wlthip
E instrument and acknowledged to me that he/she/they executed the same in hislherlthelr authorlzed capaclty(1es)
m E and that by hislherltheir signature@) on the instrument the person(s) or the entity upon behalf of which the
1
=
-
1
2
4
3
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
753 m rn
SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTOE
WITH RESPECT THERETO.
pr ved as to form:
Vincent F. Biondo, Jr., General Counsel
(Notarial acknowledgement of execution of OWNER and BENEFI(
must be attached.
3/2,%2 =
La&*
CMWD 90-502
5 3/26/91
1 t)% e a
Aviara Golf Course Clubhouse, Carlsbad Tract 85-35,
CMWD Project No. 90-502
(Notarial Acknowledgment must be attached)
1991 Executed by the GRANTOR this 12 day of A&),
AVIARA LAND ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited
partnership, formerly PACIFIC RIM LAND ASSOCIATES LIMITED PARTNERSHIP,
a Delaware Limited Partnership, as Owner
By: AVIARA LAND COMPANY, a By: REPUBLIC DEVELOPMENT
Delaware corporation, COMPANY, a California
&I
corporation,
eneral P rtn
D.L. Vice CLEMENS President
BY- TED L. HOOVER
dd D.L. CLE
Vice President . A1 ;l< 1 /b” w-
By: ?4 1. /&=--L
Assistant Secretary TED. L. HOOVER
Assistant Secretary
CMWD 90-502
@ 0 75s
STATE OF CALFORNM I
COUNTY OF San Diego I I SS.
On November 12. 1991 before me, the undersigned, a Notary Public in and for
said State, personally appeared D.L. Clemens, personally known to me or proved to me on
the basis of satisfactory evidence to be the person who executed the within instrument as the Vice President and Ted L. Hoover personally known to me or proved to me on the
basis of satisfactory evidence to be the person who executed the within instrument as the
Assistant Secretary of Aviara 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.
(Seal)
STATE OF CALIFORNIA I
COUNTY OF San Diego I 1 ss:
On November 12. 1991. before me, the undersigned, a Notary Public in and fo
said State, personally appeared D.L. Clemens, personally known to me or proved to me 01 the basis of satisfactory evidence to be the person who executed the within instrument E
the Vice President, and Ted L. Hoover, personally known to me or proved to me on th
basis of satisfactory evidence to be the person who executed the within instrument as th
Assistant Secretary of Republic Development Company, a California corporation, th
corporation that executed the within instrument on behalf of Aviara Land Associate
Limited Partnership, a Delaware Limited Partnership, the partnership that executed th
within instrument, and acknowledged to me that such corporation executed the same E
such partner and that such partnership executed the same.
WITNESS my hand and official seal.
- NOk4RY PUBLIC ---.
(Seal)
43 0 e
I
06-26-91 (RCA)
300,i 1 * *C~WAT.LGI w
A.P.N. 21 5-592-0;
10086.0C
HlBlT @'
LEGAL DESCRIPTION
WATER EASEMENT DEDICATION
THAT PORTION OF LOT 2 OF CITY OF CARLSBAD TRACT 85-35, AVIARA PHASE I UNIT
"A", IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA
ACCORDING TO MAP THEREOF NO. 12409 FILED IN THE OFFICE OF THE COUNT)
RECORDER OF SAN DIEGO COUNTY, JUNE 29, 1989, BEING A STRIP OF LAND MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE MOST WESTERLY CORNER OF SAID LOT 2, SAID POINT BEING Oh
THE SOUTHERLY RIGHT OF WAY LINE OF BATIQUITOS DRIVE AS SHOWN AND DEDICATEE
ON SAID MAP NO. 12409; THENCE ALONG SAID SOUTHERLY RIGHT OF WAY LINE NORTI-
60'40'00" EAST, 49.38 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUINC
ALONG SAID SOUTHERLY RIGHT OF WAY LINE NORTH 60'40'00" EAST, 20.00 FEET,
THENCE LEAVING SAID SOUTHERLY RIGHT OF WAY LINE SOUTH 29'20'00'' EAST, 19.1 E
FEET, TO THE BEGINNING OF A TANGENT 65.00 FOOT RADIUS CURVE CONCAVE TO THE
NORTH; THENCE EASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL
ANGLE OF 83'30'43" A DISTANCE OF 94.74 FEET; THENCE NORTH 67'09'17" EAST
160.00 FEET; THENCE NORTH 22'50'43'' WEST, 12.42 FEET; THENCE SOUTH 67'09'1 7'
WEST, 7.00 FEET; THENCE NORTH 22'50'43" WEST, 20.00 FEET; THENCE SOUTI-
67'09'1 7" WEST, 7.91 FEET; THENCE NORTH 22'50'43'' WEST, 10.00 FEET; THENCE
NORTH 67'09'17'' EAST, 34.91 FEET; THENCE SOUTH 22'50'44'' EAST, 3.62 FEET;
THENCE NORTH 57'1 9'36" EAST, 52.48 FEET; THENCE SOUTH 32'40'24'' EAST; 13.0C
FEET; THENCE SOUTH 57'1 9'36" WEST, 7.00 FEET; THENCE NORTH 32'40'24" WEST,
3.00 FEET; THENCE SOUTH 57'1 9'36" WEST, 47.22 FEET; THENCE SOUTH 22'50'43"
EAST, 48.65 FEET; THENCE SOUTH 67'09'1 7" WEST, 180.00 FEET, TO THE BEGINNING
OF A TANGENT 85.00 FOOT RADIUS CURVE CONCAVE TO THE NORTH; THENCE
WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 27'27'49"
RADIUS CURVE CONCAVE TO THE EAST,A RADIAL LINE TO SAID 85.00 FOOT RADIUS
CURVE BEARS SOUTH 04'37'06" WEST AND A RADIAL LINE TO SAID 190.00 FOOT
RADIUS CURVE BEARS NORTH 81'17'54" WEST, THENCE SOUTHERLY ALONG THE ARC
OF SAID 190.00 FOOT RADIUS CURVE THROUGH A CENTRAL ANGLE OF 09'29'12" A
DISTANCE OF 31.46 FEET; THENCE NON-TANGENT TO SAID CURVE NORTH 87'42'25"
EAST, 21.28 FEET; THENCE SOUTH 02'17'35'' EAST, 10.00 FEET; THENCE SOUTH
RADIUS CURVE CONCAVE TO THE EAST; A RADIAL LINE TO SAID POINT BEARS SOUTH
86'20'33'' WEST, THENCE NORTHERLY ALONG THE ARC OF SAID CURVE THROUGH A
CENTRAL ANGLE OF 12'36'53'' A DISTANCE OF 46.24 FEET TO THE BEGINNING OF A
A DISTANCE OF 40.74 FEET TO THE BEGINNING OF A NON-TANGENT 190.00 FOOT
87'42'25'' WEST, 41.28 FEET TO THE BEGINNING OF A NON-TANGENT 210.00 FOOT
NON-TANGENT 85.00 FOOT RADIUS CURVE CONCAVE TO THE NORTHEAST, A RADIAL
C.M.W.D. 90-502
SHEET 1 OF 2 SHEETS
0 0 75
LINE TO SAID 210.00 FOOT RADIUS CURVE BEARS NORTH 81°02'34" WEST AND 1
RADIAL LINE TO SAID 85.00 FOOT RADIUS CURVE BEARS SOUTH 18°08'40" WEST
THENCE NORTHWESTERLY ALONG THE ARC OF SAID 85.00 FOOT RADIUS CURVt
THROUGH A CENTRAL ANGLE 42O31'20" A DISTANCE OF 63.08 FEET; THENCE NORTt
29°20'00" WEST, 19.1 6 FEET TO THE TRUE POINT OF BEGINNING.
THE HEREINABOVE DESCRIBED PARCEL CONTAINS 0.205 ACRE OF LAND MORE OR LESS
THIS LEGAL DESCRIPTION WAS PREPARED BY ME OR UNDER MY DIRECTION.
P&D TECHNOLOGIES ddfl/Q- - 6-Z.-?/
DALE A. DAVIS L.S. 5894
LICENSE EXPIRES 12-31-92
C.M.W.D. 90-502
SHEET 2 OF 2 SHEETS
i '* *
? .-
r
LOCATION MAP
c PROJECT NAME: PROL ,E>
NO.
pzk5Z2 ' - 20' Water Easement Dedication
*