HomeMy WebLinkAboutCUP 258B; KSL LA Costa Resort Corporation; 2003-0760013; Subordination AgreementllOC # 2003-0760013
RECORDING REQUESTED BY
WHEN RECORDED MAIL TO:
District Secretary
Carlsbad Municipal Water District
1200 Carlsbad Village Dr.
Carlsbad, CA 92008
Please record the document at no
fee as it is to the benefit of the
District (Gov. Code [6103].)
JUN 269 2003 4=09 PPI
OFFICIft Ern SIVI DIEGO lD.INTY RECORDER'S OFFICE GREGORY J. WITH, CWl4TY REGllfER FEES: 0.00
SPACE ABOVE THIS LINE FOR RECORDER'S USE
ASSESSOR'S PARCEL NO. 216-123-07
PROJECT NO. & NAME:
LA COSTA RESORT AND SPA
Waterline easement for PR 02-140
CUP 258(B)
SUBORDINATION AGREEMENT
(TRUST DEED HOLDERS)
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR
SECURITY INTEREST IN THE PROPERTY BECOMING
SUBJECT TO THE 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 is made this &!&day of ab&, 20 67 by KSL La
Costa Resort Corporation, owner of the land hereinafter described and hereinafter referred to
as "Owner," and Wells Fargo Bank, National Association, present owner and holder of the deed
of trust hereinafter described, hereinafter referred to as "Beneficiary;"
WITNESSETH
WHEREAS, KSL La Costa Resort Corporation, did execute a deed of trust, dated April
29, 2002 to American Securities Company, as trustee, to secure a note in the sum of
$60,000,000 dated April 29, 2002 recorded in the office of the County Recorder of San Diego
County on April 30,2002 as File No. 2002-0363030 of Official Records of said county; and
WHEREAS, Owner has executed, or is about to execute, as grantor, a grant of
, in favor of the Carlsbad Municipal Water District as EASEMENT dated 3 ' 25-O3
1 H.1Development ServiceslMasterslFomslSubrdination Agt Trust Deed Holders CMWD Rev. 5/31/00
grantee herein referred to as "Easement Grantee" creating an EASEMENT more particularly
described in EXHIBITS A & B attached hereto; and
WHEREAS, Easement Grantee is willing to accept said EASEMENT provided the grant
of EASEMENT 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 created in favor of Easement Grantee; and
WHEREAS, it is to the mutual benefit of the parties hereto that Easement Grantee
accept said EASEMENT and Beneficiary is willing that the grant of EASEMENT 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
above referred to, it is hereby declared, understood and agreed as follows:
1. That said EASEMENT 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 above
described without this subordination agreement.
3. That this Agreement shall be the whole and only agreement with regard
to the subordination of the lien or charge of the deed of trust above mentioned to the
EASEMENT 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 EASEMENT
hereinbefore specifically described, any prior agreement as to such subordination including, but
not limited to, those provisions, if any, contained in the deed of trust above mentioned, which
2
H:/Development Services/Masters/Forms/Subordination Agt Trust Deed Holders CMWD Rev. 5/31/00
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 EASEMENT 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 EASEMENT in favor of Easement Grantee above
referred to and understands that in reliance upon, and in consideration of, this subordination of
the grant of EASEMENT is being executed and delivered, the EASEMENT is 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.
Ill
Ill
Ill
Ill
Ill
Ill
Ill
Ill
Rev. 5/31/00
3. This Agreement represents an endorsement to the note secured by the deed
of trust above mentioned and that said deed of trust has by this in-strument been subordinated
to the charge of the Easement in favor of Easement Grantee above referred to.
BENEFICIARY: Wells Fargo Bank,
National Association
OWNER: KSL La Costa
Resort Corporation, a
W \ A +-c. - (print nd here)-
(titlb and organizati~ of dgnatory)
By: 4
(title and organi%tion of signayory)
(Proper notarial acknowledgment of execution
attached.)
(print name here) In kYLu (I
(title and organization of signatory)
By:
(sign here)
(print name here)
(title and organization of signatory)
by BENEFICIARY AND OWNER must be
(Chairman, president or vice-president and secretary, assistant secretary, CFO or assistant
treasurer must sign for corporations. Otherwise, the corporation must attach a resolution
certified by the secretary or assistant secretary under corporate seal empowering the officer(s)
signing to bind the corporation.)
If signed by an individual partner, the partnership must attach a statement of partnership
authorizing the partner to execute this instrument.
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: PA&!& K I P&+tLLkW~
Deputy General Counsel
4 H:IDevelopment ServiceslMasters/FormslSubordinalion Agt TNSI Deed Holders CMWD Rev. 5/31/00
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California I
Name and lille 01 OHcer (e.9.. "Jane Doe. Ndary Publc") On Gf '- 1% - 2DG3 before me,
Date
J Name@) 01 Signer(s)
personally appeared ?Lu '-kl *q
@personally known to me
proved to me on the basis of satisfactory
evidence
to be the person(s) whose name(s) idare
subscribed to the within instrument and
acknowledged to me that he/she/they executed
the same in hislherltheir authorized
capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s)
acted, executed the instrument.
Sig tule 01 NOlaW Publlc
OPTIONAL
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 reanachment of this form to another document. r-
Description of Attached Document
Title or Type of Document: .5Uh~' &&4- hTmt(waHDk)
Document Date:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
3- 25 - 500'3 Number of Pages: 5w +Aw
FS
bLt. -5&-Awq r 0 Individual
&Corporate Officer - Title(s):
Partner - 0 Limited 0 General
0 Attorney-in-Fact
0 Trustee
0 Guardian or Conservator 0 Other:
Signer Is Representing: LLkr_J-i; -k4C .TL?Lh&, h). A.
B I999 National Notary Associatkn * 9350 De Solo Ave.. P.O. Box 2402 - Chabworth. CA 913132402 - www.nati0nalnoiaiy.org Prod. No. 5907 Reorder: Call TdCFree 1-800-876-6827
ALlFORNlA ALL-PURPOSE ACKNOWLEDGMENT
State of California } ss. County of Lb5 Anaeb
On I !2 &O3 , before me, Patricia D, Perkins, Notary Public,
personally appeared
I Name and Title of Officer (e g., "Jane Doe, Notary Public') -
Name@) of Bgner(s)
&ersonally known to me
to be the person(@ whose nameH is/-
subscribed to the within instrument and
acknowledged to me thathdshelthy executed
the same in Wher/#?eif authorized
capacity#ee), and that by kie/her/#hei+
signature@ on the instrument the person#, or
the entity upon behalf of which the person@
acted, executed the instrument.
Place Notary Seal Above
OPTIONAL
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 Attache
Title or Type of Document:
Document Date: kUGh $5 ab3
Signer(s) Other Than Nam-ed Above:
Number of Pages:
Capacity(ies) Claimed by Sign
Signer's Name: @d
0 individual
0 Partner - 0 Limited General
0 Attorney in Fact
0 Trustee
0 Guardian or Conservator
Corporate Officer - Titie(s): ' v P
Other: I I
Signer Is Representing: 11s
0 1999 National Notary Association * 9350 De Sot0 Ave.. P.O. Box 2402 * Chatswoffh, CA 913152402 w.nationalnoiaw.org Pmd. No. 5907 Reader: Call Toll-Free 1-800-876.6827
State of California ) 1 county of San Diego )
On z5 *3 before me &h~c J.Qmi&, nbhp Ub( 1-k-
(Date) 1 (Name, Title ofbfficer)
personally appeared S. CeCQlJls &sa
(Name[s] of Signer[s])
0 personally known to me -OR - d
(or proved to me on the basis of satisfactory evidence) to be the person(s) whose
name(s) islare subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument the person(s), or entity upon behalf of which
the person(s) acted, executed the instrument.
WITNESS my hand and official seal
fl
Signature of Notary c (This area for
official notary seal)
Title or Type of Document
Date 5- No. of Pages
Of 3 -25 -03 Document
Signer(s) other than named above
5 +/Development SeNices/Masters/Forms/Subordination Agt TNSt Deed Holders CMWD Rev. 5/31/00
1-14107F
EX H I BIT "A"
WATER LINE EASEMENT
CUP 258(B)
P.R. 02-140
Being a portion of the Northeast Quarter of Section 35, Township 12 South,
Range 4 West, San Bernardino Base Meridian, in the City of Carlsbad, County of
San Diego, State of California, being more particularly described as follows:
Beginning at the most Southwesterly corner of Estrella De Mar Road as dedicated
per Map No. 5434; thence along the most Southerly line of said Estrella De Mar
Road South 85'37'26" East 60.00 feet; thence leaving said Southerly line South
07O31'50'' West 172.11 feet to the TRUE POINT OF BEGINNING, said point being
on the Southerly sideline of that certain existing 10.00 foot water easement to
Costa Real Municipal District recorded October 23, 1987 as File No. 87-598022 of
Official Records; thence leaving said 10.00 foot water easement South 37'18'50"
East 7.10 feet; thence South 76'04'44'' East 286.83 feet; thence North 13'55'16"
East 37.00 feet; thence South 76'04'44'' East 16.00 feet; thence South
13O55'16" West 37.00 feet; thence South 76'04'44" East 74.56 feet to the
beginning of a tangent 210.00 foot radius curve concave Southwesterly; thence
Southeasterly along said curve through a central angle of 42'31'50" an arc
distance of 155.88 feet; thence South 33'31'08'' East 1.96 feet; thence North
56O28'56'' East 5.00 feet; thence South 33'31'08" East 22.09 feet; thence South
73'18'24" East 13.85 feet; thence South 28'18'27" East 2.87 feet to the
Northerly sideline of said 10.00 foot water easement to Costa Real Municipal
District; thence along said Northerly sideline South 59'40'03'' West 5.00 feet;
thence South 60'39'45'' West 10.00 feet; thence South 61'41'35" West 10.06
feet; thence leaving said Northerly sideline North 73'18'26" West 13.46 feet;
thence North 33'31'08" West 25.02 feet to the beginning of a tangent 190.00
foot radius curve concave Southwesterly; thence Northwesterly along said curve
through a central angle of 42'36'24" an arc distance of 141.29 feet; thence
North 76'04'44" West 80.60 feet; thence South 13'55'16" West 27.46 feet;
thence North 76'04'44" West 37.94 feet; thence North 13'55'16'' East 27.45 .
feet; thence North 76'04'44'' West 10.00 feet; thence South 13'55'16" West
5.50 feet; thence North 76'04'44'' West 10.00 feet; thence North 13'55'16'' East
5.50 feet; thence North 76'04'44" West 225.20 feet; thence South 13'55'16''
West 45.99 feet; thence North 76'04'44" West 10.00 feet; thence North
13'55'16" East 45.99 feet; thence North 76OO4'44'' West 10.69 feet; thence
-
Page 1 of 2
North 36"11'41" West 13.12 feet; thence South 07"41'06" West 26.47 feet;
thence North 82'18'54'' West 10.00 feet; thence North 07'41'06" East 31.89
feet; thence North 52'41'05'' East 3.45 feet; thence North 36"11'41" West 8.68 ,
feet to the Southerly sideline of said 10.00 foot water easement to Costa Real
Municipal Water District being a point on a non-tangent 353.00 foot radius curve
concave Southerly to which a radial line bears South 04'17'45'' West; thence
Easterly along said curve through a central angle of 04"21'15" an arc distance of
26.83 feet to the TRUE POINT OF BEGINNING.
Containing 0.330 acres, more or less
2-1 3- 20 03
v Y r Jeffrey 3. SafforYd, L.S. 6703 Date
BASIS OF 6€4 RINGS \ EXHIBIT "E'
THE BASIS OF BEMJNGS FOR I THIS PLAJ JS THE UNE BETWEEN -=&Z HPGN CPn-07 AND 134wccS2 I
AS SHOWN ON RECORD OF SURVEY 40 20 0 NO. 16810,lE. N ZW33 E
LEGEND
WAJER EASEMENT r& DEDJCATED TO CARLSBAD MUNICIPAL WATER DISTRJCJ 0.330 ACRES
127 -
SCALE l"= 40'
PLAT TO ILLUSTM TE
LEGXL DESCRIPTION OF WATER LINE EASEMENT 1620 Friars Road . Sa0 Diego.Cn 921102598 rei. (619)291-0707~ FAX (619)291-4165 . www&tem.com DEDICA TED TO CARLSBAD /"-i/-Ct..-7.'/. I A,&J- ?!&+ MUNICIPAL WATER DISTRICT
IE#REY J~SAFFORD, LS 6703 SHEET 1 OF 2
. .. . _I 4 IOT\X~IOT-.~TZ. em _ll.O.-
COURSE TABLE
Ll L2 L3 L4 L5 L6 L7 L8 L9 LlO Ll1 L 12 L 13 L 14
N 33'31 '08" W N 73'18'26" W N 73' 18'24" W N 33"31'08'' W N 56'28'56" E N 33'31'08" W N 28'18'27'' W N 76'04'44'' W N 13'55'16" E N 76'04'44" W N 60'39'53" E N 61 '41'26'' E N 59'40'03" E N 13'55'1 6'' E
25.02 13.46 13.85 22.09 5.00 1.96 2.87 10.00 5.50 10.00 10.00 10.06 5.00 5.50
EASEMENT DEDICATED TO
CXRLSBAD MUNICIPAL WATER DISTRICT
Feb 12 17:22 2003 shawn.out Page 1
RICK ENGINEERING COMPANY
Traverse Calculations 15:53:58 12-FEB-:3
la costa resort water easement dedication at entrance
parcel 1
Parcel no. wl
Course Bearing Distance
Start-
722
955
9 54
1561
1562
1564
1565
953
940
Curve
77
948
947 946
945
944
78
979
943
942
941
940 Curve
939
938
2897
2898
2899
2900
2901
2902
2903
931
930
929
928
927
- 753
885-37-263 S 7-31-5OW
S37-18-50E
S76 - 04 -44E
N13-55-16E
S76-04-44E
S13-55-16W
S76-04-44E
S13-55-16W
Delta = 42-31-50
T = 81.729
N56-27-06E
S33 - 3 1 - 08E
N56-28-56E
S33 -31- 08E
S73-18-24E
S28-18-27E
S59-40-03W
560 -3 9- 53W
S61-41-26W
N73 - 18 - 26W
N33 -3 1- 08W
S56 -3 1-4 OW
Delta = 42-36-24
T = 74.091
N13 - 5 5 - 16E
N76 - 04 - 44W
S13-55-16W
N76- 04-44W
N13 -5 5 - 16E
N76-04-44W
S13 -55-16W
N76 - 04 - 44W
N13 -5 5- 16E
N76 - 04 -44W
513 - 55- 16W
N76 - 04 - 44W
N13 -55 - 16E
N76-04 -44W
60 - 00
172.11
7.10
286.83
37.00
16.00
37.00
74.56
210.00
R=
Ch =
210.00
1.96
5.00
22.09
13.85
2.87
5.00
10.00
10.06
13.46
25.02
190.00
R= Ch =
190.00
80.60
27.46
37.94
27.45
10.00
5.50
10: 00
5.50
225.20
45.99
10.00
45.99
10 - 69
Coordinates
1978859.758 6250333 -944
North
1979058.330
1979053.752
1978883.125
1978877.477
1978808.470
1978844.383
1978840.534
1978804.620
1978786.681
1978582.849
210.000 L =
152.328 A =
1978698.904
1978697.272
1978700.033
1978681.613
1978677.634
1978675.111
1978672.584
1978667.685
1978662.913
1978666.779
1978687.642
1978582.850
190.000 L =
138.056 A =
1978767.270
1978786.660
1978760.010
1978769.139
1978795.788
1978798.194
1978792.855
1978795.261
1978800.599
1978854.780
1978810.138
1978812.544
1978857.185
East
6250304.011
6250363.836
6250341.280
6250345.585
6250623.990
6250632.892
6250648.422
6250639.520
6250711.895
6250661 372
1462.243
6250836 -390
6250837 -471
6250841.639
6250853 -840
6250867.109
6250868.467
6250864.147
6250855.430
6250846.572
6250833.680
6250819.862
6250661.373
155.883
141.289
-1203.301
6250707.084
6250628.855
6250622.249
6250585.421
6250592.026
6250582.320
6250580.997
6250571.290
6250572.614
6250354.027
6250342.962
6250333.256
6250344 -321
Feb 12 17:22 2003 shawn.out Page 2
2986 N36-11-41W 13.12 1978870.341 6250326.199
2987 S 7-41-06W 26.47 1978844.112 6250322.660
2988 N82-18-54W 10.00 1978845.449 6250312.750
31.89 1978877.053 6250317.014
3.45 1978879.144 6250319.758
2989 N 7-41-043
2990 N52-41-05E
926 N36-11-41W 8.68 1978886.149 6250314.632
978 S 4-17-45W 353.00 1978534.141 6250288.191
Curve Delta = 4-21-15 R= 353.000 L = 26.826
T = 13.419 Ch = 26.819 A = 4.556
955 N 8-38-59E 353.00 1978883.126 6250341.280
722 N 7-31-503 172.11 1979053.753 6250363.837
753 N85-37-26W 60.00 1979058.331 6250304.011
Closure S40 -39 - 52W 0.001
Area = 14362.2 sq. ft. Area = 0.32971 acres