HomeMy WebLinkAboutPR 01-24; La Costa Village LLC; 2001-0527920; Subordination AgreementRECORDING REQUESTED BY
WHEN RECORDED MAILTO:
City Clerk
CITY OF CARLSBAD
1200 Carlsbad Village Dr.
Carlsbad, CA 92008
Please record the document at
the District (Gov. Code [6103].)
no fee as it is to the benefit of
/d;b_7-C"a SPACE ABOVE THIS LINE FOR RECORDER'S USE
ASSESSOR'S PARCEL NO. 223-060-29-00
PROJECT NO. L? NAME: SDP 99-07
Rancho La Costa Village
PR 01 -24
SUBORDINATION AGREEMENT
(TRUST DEED HOLDERS)
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR
SECURITY INTEREST IN THE PROPERTY BECOMING
SUBJECT TO AWHE EASEMENT(S) IN THE REAL
PROPERTY TO WHICH YOUR SECURITY INSTRUMENT
ATACHES AND HAS THE POTENTIAL EFFECT OF
REDUCING THE VALUE OF YOUR SECURITY INTEREST.
THIS AGREEMENT is made this dS7'day of &LY ,200/ by Rancho
La Costa Village, LLC, a California Limited Liability Company, owner of the land hereinafter
described and hereinafter referred to as "Owner," and Amsouth Bank, an Alabama Banking
Corporation, its successors and assigns, present owner and holder of the deed of trust
hereinafter described, hereinafter referred to as "Beneficiary;"
WITNESSETH
WHEREAS, Rancho La Costa Village, LLC, a California Limited Liability Company, did
execute a deed of trust, dated September 29, 2000 to First American Title Insurance Company
as trustee, to secure a note in the sum of $5,897,000 dated September 29, 2000 in favor of
Amsouth Bank, an Alabama Banking Corporation, its successors and assigns recorded in the
office of the County Recorder of San Diego County on October 2, 2000 as File No. 2000-
19898
0708576 of Official Records of said county; and
WHEREAS, Owner has executed, or is about to execute, as grantor, a grant of
EASEMENT(S) dated , in favor of the City of Carlsbad as grantee herein
referred to as "Easement Grantee" creating AN/THE EASEMENT(S) more particularly
described in EXHlBlT"A, attached hereto; and
WHEREAS, Easement Grantee is willing to accept said EASEMENT(S) provided the
grant of EASEMENT(S) 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(S) created in favor of Easement Grantee;
and
WHEREAS, it is to the mutual benefit of the parties hereto that Easement Grantee
accept said EASEMENT(S) and Beneficiary is willing that the grant of EASEMENT(S) 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(S)
above referred to, it is hereby declared, understood and agreed as follows:
1. That said EASEMENT(S) 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(S) 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(S) 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(S) 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 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. V(We) consent to and approve the grant of EASEMENT(S) 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(S) 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(S) is being executed and delivered, the EASEMENT(S) WARE 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.
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3 Rev 5/31/00
19900
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 instrument been subordinated
to the charge of the Easement in favor of Easement Grantee above referred to.
BENEFICIARY:
Amsouth Bank, an Alabama Banking
Corporation,
assigns i. 4 su cessors and
By:
(sign here) I
By: By:
(sign here) (sign here)
(print name here) (print name here)
(title and organization of signatory) (title and organization of signatory)
(Proper notarial acknowledgment of execution by BENEFICIARY AND OWNER must be
attached.)
(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@)
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:
By:
4
Rev. W31IOO
19901
State of California )
) County of San Diego )
On :R
6.
I (Name, Titlebf Officer)
personally appeare m1< 'j
(Name[s] of Signer[s])
personally known to me -OR - *
m) to be the person& whose
name(($) & subscribed to the within instrument and acknowledged to me that
@zh&lq+executed the same in &&dltreir authorized capacityh, and that by
signaturekon the instrument the person&,-or entity upon behalf of which
the personkacted, executed the instrument.
WITNESS my hand and official seal
(This area for
official notary seal)
Title or Type of Document
No. of Pages
Signer@) other than named above
5
Rev. Y31100
19902
State of Alabama
County of Mobile
On May 9,2001 before me, Rosemary W. Broos, Notary Public, personally appeared Herman
L. Neese, Jr., personally know to me to be 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 signature on the instrument the person or entity upon behalf of
which the person acted, executed the instrument.
Witness my hand and official seal.
Rosemary W. Broos,
19903
CERTIFICATION
I, Michelle A. Bridges, Assistant Secretary for AmSouth Bank hereby certify that
the following is a true and correct excerpt from the ByLaws of AmSouth Bank and that the
same is in full force and effect on the date hereof:
“SECTION 4.6: VICE PRESIDENTS
Any Vice President shall have the authority to execute in
the name of the Bank stock certificates of the Bank and
transfers, conveyances, assignments, certificates, releases,
satisfactions, authentications, options, proxies, leases,
including oil, gas, and other mineral leases, agreements,
including, but not limited to agreements relating to
depository accounts of the Bank, or other instruments
pertaining to investments, assets or operations of the Bank
or powers held or controlled by the Bank. The Vice
Presidents shall have such other powers as are from time to
time conferred upon them by the Board of Directors,
committees of the Board, and the Executive Officers.”
I further certify that Herman L. Neese, Jr. is a duly elected Vice President of
AmSouth Bank and is now qualified and empowered to act under the above-referred to
section of the Bylaws.
Given under my hand and seal this 18th day of June, 2001.
[SEAL]
Assistant Secretary
RECORDING REQUESTED BY:
WHEN RECORDED MAILTO:
City Clerk
CITY OF CARLSBAD
1200 Carlsbad Village Drive
Carlsbad, CA 92008
MAILTAX EXEMPT STATEMENTS TO:
EXEMPT
19904
EXttIi313- "A "
SPACE ABOVE THIS LINE FOR RECORDER'S USE
The undersigned grantor@) declare(s): Assessor's Parcel No.: 223-060-29-00
Documentary transfer tax is $Q.QQ Project No. & Name: SDP 99-07
( ) computed on full value of property conveyed, or Rancho La Costa Village, PR 01 -24
( ) computed on full value less value of liens and Public Street & Public Utility and
( I Unincoroorated area: (XI Citv of Carlsbad. and
encumbrances remaining at time of sale. Waiver of Access Rights
GRANT DEED OF EASEMENT
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
Rancho La Costa Village, LLC, a California Limited Liability Company
hereby GRANTS to
City of Carlsbad, a Municipal Corporation
the following described real property in the City of Carlsbad, County of San Diego, State of California:
an easement for PUBLIC STREET AND PUBLIC UTILITY PURPOSES over, under, upon and
across said real property as described in Exhibit "A" consisting of two (2) page(s), attached
hereto and made a part hereof. Exhibit "B consisting of two (2) page(s) is attached for clarity
Ill
Ill
Ill
Ill
Ill
Ill
Ill
Ill
Ill
Ill
Ill
Ill
19905 w
only and does hereby relinquish and waive all abutters rights of access to Rancho Santa Fe
driveway openings indicated on said Exhibit “B”
Road and La Costa Avenue as shown on attached Exhibit “B”, excepting there from the
DATED $/z I
STATE OF CALIFORNIA
COUNTY OF SAN DlEGO
of which the the instrument.
Rancho La Costa Village, LLC, a
California Limited Liability Company
(Name of Company)
California Limited Liability Company
By: Pacific La Costa Village, LLC, a
as managing member of Rancho La Costa Villa-
By:
Name:
Title:
(Type or Print)
By:
(Signature)
Name:
(Type or Print)
Title:
(Type or Print)
EXHIBIT "A"
PR 01-24
PARCEL "A" LEGAL DESCRIPTION
STREET DEDICATION
ALONG RANCHO SANTA FE ROAD
A.P.N. 223-060-29
19906
THAT PORTION OF PARCEL 2, PARCEL MAP NO. 12586, IN THE CITY OF
CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO
THE OFFICIAL PLAT THEREOF FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY, DESCRIBED AS FOLLOWS:
BEGINNING AT THE COMMON WEST CORNER OF PARCEL 2 AND PARCEL 1 OF
SAID PARCEL MAP NO. 12586; THENCE ALONG THE COMMON LINE BETWEEN
PARCEL 2 AND PARCEL 1, SOUTH 51°09'57" EAST, 18.14 FEET; THENCE
LEAVING SAID COMMON LINE, SOUTH 38O50'03" WEST, 172.82 FEET TO
THE BEGINNING OF A 1,437.00 FOOT RADIUS CURVE CONCAVE
SOUTHEASTERLY; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF Ol057'31'', 49.12 FEET; THENCE SOUTH
08°25t03" EAST, 19.00 FEET TO THE BEGINNING OF A NON-TANGENT
1,423.00 FOOT RADIUS CURVE CONCAVE SOUTHEASTERLY WHOSE RADIUS
POINT BEARS SOUTH 53'04'53'' EAST; THENCE SOUTHWESTERLY ALONG THE
ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 09"19'07", 231.44
FEET TO A POINT ON THE MOST SOUTHWESTERLY LINE OF SAID PARCEL 2;
THENCE ALONG SAID SOUTHWESTERLY LINE, NORTH 63'37'48'' WEST, 28.79
FEET TO THE MOST WESTERLY CORNER OF SAID PARCEL 2, SAID POINT
BEING ON THE SOUTHEASTERLY RIGHT-OF-WAY LINE OF RANCHO LA COSTA
ROAD AS SHOWN ON SAID PARCEL MAP NO. 12586, SAID POINT BEING AT
THE BEGINNING OF A NON-TANGENT 1449.00 FOOT RADIUS CURVE CONCAVE
SOUTHEASTERLY WHOSE RADIUS POINT BEARS SOUTH 63'37'48'' EAST;
, THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A
TANGENT 970.00 FOOT RADIUS CURVE CONCAVE SOUTHEASTERLY WHOSE
CENTRAL ANGLE OF 3'36'20", 91.18 FEET TO THE BEGINNING OF A NON-
RADIUS POINT BEARS SOUTH 55°49'21" EAST; THENCE NORTHEASTERLY
ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 2O38'51" ,
OF BEGINNING.
44.82 FEET; THENCE NORTH 36'49'22'' EAST, 336.58 FEET TO THE POINT
(CONTAINS 0.2287 ACRES, MORE OR LESS)
n
,- STUART PEACE, RCE 27232 EXP 3-31-05
STUART ENGINEERING
7525 METROPOLITAN DR, SUITE 308
SAN DIEGO, CA 92108
(619) 296-1010 FAX(619) 296-9276
PAGE 1 OF 2
121-00-01 03/29/2001 FI\MIN\12l\ld&8&.dw
EXHIBIT "A"
PR 01-24 19907
PARCEL "B" LEGAL DESCRIPTION
STREET DEDICATION
ALONG LA COSTA AVENUE
A.P.N. 223-060-29
THAT PORTION OF PARCEL 2, PARCEL MAP NO. 12586, IN THE CITY OF
CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO
THE OFFICIAL PLAT THEREOF FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY, DESCRIBED AS FOLLOWS:
BEGINNING AT THE COMMON EAST CORNER OF PARCEL 2 AND PARCEL 1 OF
SAID PARCEL MAP NO. 12586, SAID POINT BEING ON THE SOUTHWESTERLY
RIGHT-OF-WAY LINE OF LA COSTA AVENUE AS SHOWN ON SAID PARCEL MAP
NO. 12586; THENCE ALONG SAID RIGHT-OF-WAY LINE, SOUTH 51'09'57''
THENCE ALONG THE SOUTHEASTERLY LINE OF SAID PARCEL 2, SOUTH EAST, 369.99 FEET TO THE MOST EASTERLY CORNER OF SAID PARCEL 2;
38'50'03'' WEST, 20.00 FEET; THENCE LEAVING SAID SOUTHEASTERLY
LINE, NORTH 51'09'57'' WEST, 296.48 FEET TO THE BEGINNING OF A
TANGENT 110.00 FOOT RADIUS CURVE CONCAVE NORTHEASTERLY WHOSE
RADIUS POINT BEARS NORTH 38°50'03" EAST; THENCE NORTHWESTERLY
ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 21°33'55",
41.40 FEET TO THE BEGINNING OF A REVERSE 90.00 FOOT RADIUS CURVE
CONCAVE SOUTHWESTERLY WHOSE RADIUS BEARS SOUTH 60'23'58'' WEST;
THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH A
CENTRAL ANGLE OF 21'33' 55", 33.87 FEET TO A POINT ON THE COMMON
LINE BETWEEN PARCEL 1 AND PARCEL 2 OF SAID PARCEL MAP NO. 12586;
THENCE ALONG SAID COMMON LINE, NORTH 38'50' 03" EAST, 6.00 FEET TO
THE POINT OF BEGINNING.
(CONTAINS 0.1585 ACRES, MORE OR LESS)
&Pk 43-01
STUART PEACE, RCE 27232 EXP 3-31-05
STUART ENGINEERING
7525 METROPOLITAN DR, SUITE 308
SAN DIEGO, CA 92108
(619) 296-1010 FAX(619) 296-9276
PAGE 2 OF 2
121-00-01 01/19/2001 l:\*FPIIN\12l\ldlBl.doc
INDICATES STREET DEDlCATlOF
'EZzm
INDICATES ACCESS RIGHTS
RELINQUISHED AND WAIVED
""""""_ N 53O07'28" W (R)
""
Q
Q= 3
k!
E
3 SCALE IN EET
2
8' P.M. 12586 2 is (LA COSTA VILLAGE)
." -1 """ S 08O 25' 03" E 19.00'
A"-
""""_" N 53O 04'53" W
50.00' ACCESS
A=O2O 00' 47" R= 1 423.00' L=50.00'
. L!l-
OPENING
N 5-30 10' 36" w (R) """""- ---
EE STUART ENGINEERING
7525 MElRaPOUTAN DRIM SE. 308
FAX (619) 296-9276 EMAIL: stuart@networ/d.net SAN BEGO, CA 92108 (619) 296-1010
DEDICATION PLAT - CITY OF CARLSBAD
APPLICANT: !ANCHO LA COSTA MUG€, UC :/O SlMAC CoNsTRUClloN
5938 BERNARDO CENTER DRIM AN MEGO, CA 92127 Ssa) 674-9880
STUART PEACE, RCE 27232 EXPIRES 3/31 /05 EXHIBIT "B"
APN.: 223-060-29 STREET DEDlCAllON PR 01-24
r
""""--- N 60° 23' 58" E
"""""- N 38O 50' 03" E
26.24' ACCESS OPENING
P.M. I2586
44.07' ACCESS OPENING
PARCEL 132 P.M. 17744
E SHEET 2 OF 2
19909
1"s 50'
50 25
SCALE IN FEET
NDICATES STREET DEDICATION -
NDICATES ACCESS RIGHTS 3ELINQUISHED AND WAIVED
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