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Home My WebLink AboutSDP 97-19; Wave Crest Resorts LLC; 2000-0456567; Subordination Agreement. ', RECORDING REQUESTED BY I DDC it: 2000-0456567 - WHEN RECORDED MAILTO: CITY OF CARLSBAD .- 3756 ms: 0.M) City Clerk WI DIEGO cou(pI REMRWI'S OFTICE rnICIlY Ern GllwRy J. WITH, Mwpl KCORDER 1200 Carlsbad Village Dr. Carlsbad, CA. 92008 hereinafter described, hereii$&r ref&red:to & "Beneficia&;"', , . WHEREAS, Owner, did execute a deed of trust, dated May 4, 1999 to Commonwealth Land Title Company as trustee, to secure a note in the sum of Thirteen Million, Nine- hundred and Fifty Thousand dollars ($13,950,000), dated May 4, 1999, in favor of Beneficiary, recorded in the office of the County Recorder of San Diego County on May 10, 1999, as File No. 1999-0317543 of Official Records of said county; and 2 Rev. lZI24l97 3 4 ? 3760 State of California 1 ) County of San Diego 1 On 5/17!m before me, C/aUd/h &. &/'/40n,. hOdml bl&& personally appeared x?oh* L. Gtel'5eul Q&GL (Date) (Name, Titledf bfficer) (Name[s] of Signeris]) 5 Rev. 12124197 State of cm dpersonally known to me - OR -0 proved to me on the basis of satisfactory evidence to be the person(s) whose name(s)are subscribed to the within instrument and acknowledged to me &he/they executed the authorized capacity(ies), and that by on UM instrument the pers~n(s), of which the person(s) acted, executed the instrument. Description of Attached Document Mle or Type of Document: . Document Date: .. hlir of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: 0 Individual 0 Corporate Officer 0 Partner - 0 Limited 0 General 0 Attomev-in-Fact TiUe(s): 0 Trustee 0- Guardian or Consewator , Other: Signer Is Representing: II I' I Signer's Name: 0 Individual 0 Corporate Ofliir " mUe(s): 0 Partner - 0 Mi 0 General 0 Attomey-in-Fact 0 Trustee 0 Guardian or Consetvator 0 Other: , .. Signer Is Representing: I- I EXHIBIT “A” PARCEL “A” - TEMPORARY CONSTRUCTION ACCESS EASEMENT 3762 ALL THAT PORTION OF PARCEL “A” OF CERTIFICATE OF COMPLIANCE OFFICIAL RECORD OF SAN DIEGO COUNTY, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, BEING A STFUP OF LAND 24.00 FEET WIDE, THE CENTERLINE BEING DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID PARCEL. “A” OF SAID CERTIFICATE OF COMPLJANCE; THENCE NORTHERLY ALONG THE WESTERLY LINE OF SAID PARCEL “A”, NORTH 16’44’53’’ WEST 54.81 FEET TO THE TRUE POINT OF BEGINNING; THENCE LEAVING SAID WESTERLY LINE, SOUTH 89025’20” EAST 282.08 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 19.00 FEET; THENCE NORTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 113’04’03’’ A DISTANCE OF 37.49 FEET; THENCE TANGENT TO SAID CURVE NORTH 22’29’23” WEST 424.28 FEET TO A POINT HEREIN AFTER REmD TO AS POINT “A”, SAID POINT ALSO BEING THE TERMINUS OF SAID TEMPORARY CONSTRUCTION EASEMENT. THE SIDELINES OF SAID 24.00 FOOT WIDE EASEMENT SHALL BE PROLONGATED OR SHORTENED AT SAID WESTERLY LINE OF AFORESAID PARCEL “A” OF SAID CERTIFICATE OF COMPLIANCE. RECORDED NOVEMBER 17, 1998 AS DOCUMENT NUMBER 1998-0747419 OF AREA = 17852.55 SQ. FT. 0.4098 ACRES MORE OR LESS PARCEL “B - TEMPORARY ACCESS, CONSTRUCTION AND STORAGE EASEMENT ALL THAT PORTION OF PARCEL “A” OF CERTIFICATE OF COMPLIANCE OFFICIAL RECORD OF SAN DIEGO COUNTY, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA DESCRIBED AS FOLLOWS: RECORDED NOVEMBER 17, 1998 AS DOCUMENT NUMBER 1998-0747419 OF COMMENCING AT SAID POINT “A” OF AFORESAID PARCEL “A” - TEMPORARY CONSTRUCTION EASEMENT, SAID POINT “A” BEING THE TRUE POINT OF BEGINNKNG; THENCE SOUTH 67O30’37” WEST 12.00 FEET; NORTH 73O47’11” WEST 262.36 FEET; THENCE NORTH 16O12’49” EAST 53.58 FEET TO THE NORTHERLY LINE OF SAID PARCEL “A” OF SAID CERTIFICATE OF COMPLIANCE; THENCE SOUTHEASTERLY ALONG SAID NORTHERLY LINE SOUTH 73’47’1 1” EAST 282.38 FEET TO THE NORTHEAST CORNER OF SAID PARCEL “A” OF SAID CERTIFICATE OF COMPLIANCE; THENCE 3763 SOUTHEASTERLY ALONG THE EASTERLY LINE OF SAID PARCEL “A” OF SAID CERTIFICATE OF COMPLIANCE, SOUTH 22029’23’’ EAST 29.29 FEET; THENCE LEAVING SAID EASTERLY LINE SOUTH 67’30’37 WEST 37.13 FEET TO THE TRUE POINT OF BEGINNING. AREA = 15310.07 SQ. FT. 0.3515 ACRES MORE OR LESS 6-18-99 DATE REGISTRATION EXPIRES 9-30-02 MILLER & SCHROEDER INVESTMXNTS CORPORATION WRlTTEN ACTION OF BOARD OF DIRJXTORS TAKEN IN LIEU OF MEETING March 16,2000 Thc undersigned, being all of the membcrs of the Board of Directors of Miller & Schmeder of Section 302A.239 of the Minnesota Business Corporation .4ct, do hereby adopt the following Investments Corporation, a Minnesota corporation (the “Corporation”), acting pursuant to the provisions resolution, effective as of March 16, 2000: Election of Officers RESOLVED: That the following persons be, and they hereby are, elected and appointed as officers of the Corporation, to hold the office set forth opposite their respective names and to exercise the authority incident of such office until their successors shall have been duly electcd and qualified E. J. Hentges Thomas S. Nelson Jerome A. Tabolich Gary M. Nelson Kenneth R. Men John L. Greisen President Chief Financial Offker and Executive Vice President Senior Vice President & Assistant Secretary First Vice President & Secretary Vice President Vice President Authorization to Establish Banking Relations RESOLVED, that any one of the following officers of the Corporation are authorized to establish bank accounts with banks as needed to conduct business operations: €. J. Hentges Thomas S. Nelson Jerome A. Tabolich Gary M. Nelson Kenneth R Larsen President Chief Financial Officer and Executive Vice President Senior Vice President & Assistant Secretary First Vice President & Secretary Vice President FURTI-ER RESOLVED, that any two of the following are authorized to borrow monies on behalf of the Corporation, and to pledge assets of the Corporation as collateral for such borrowing: E. J. Hentges Thomas S. Nelson Jerome A. Tabolich Gary M. Nelson Kenneth R. ken President Chief Financial Offieer and Executive Vice Pnsident Senior Vice President & Assistant Secretary Vice President First Vice President & Secretary FURTHER RESOLVED, that the officers are authorized to certify to the banks as this date 05 such forms as the bank may require these authorities. Authorized Signatories RESOLVED, that each of the above elected and appointed officcrs of the Corporation is hereby authorized to delegate to any one or more of the following persons who are not officers ofthe Corporation the power to execute documents on behalf of the Corporation: Stephen P. Ray1 John Deterding David DeBauche Jan Rolbiecki K. Jon Dexter Karen McGuire Frank Baiamonte Eric Cook Kenneth I,. Nonvich Gregory A. Bolin FURTHER RESOLVED, that, notwithstanding Minnesota Statutes Section 302A.351, such officers shall not delegate to any other person the power to execute documents and each delegation: (i) shall be in writing and delivered to the secretary of the Corporation; (ii) shall be limited in scope to executing documents properly authorized by appropriate corporate action relating to financing transactions where the Corporation is acting as lender not involving financing for gaming related purposes; (iii) may be terminated at any time; and (iv) shall expire upon any such officer ceasing to be an officer or such authorized signatory ceasing to be employed by the Corporation or any affiliate. FURTIER RESOLVED, that any person x) delegated the power to execute documents shall us the designation "Authorized Signatory" in executing such documents and shall not have any other powers or duties of, and shall not be, officers of the Corporation as a result of this resolution or any such delegation. of the directors of the Corporation, and agrees to the transaction of the business of the Corporation set Each director, by signing this written consent, waives notice of the time, place and purpose of a meeting forth in the foregoing resolution by this unanimous written consent in lieu of such meeting. This written consent may be executed in two or more counterpans which together shall constitute one and the same instrument. M WITNESS WHEREOF, the undersigned has hereunto executed this wrinen consent, effective as of the day and year first above written. Constituting the €ntire Board of Directors TOTAL P. E3 " ~ -.*- ~~ . . ~.~ - . - - CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT state of L l3'(ersonally known to me - OR -0 proved to me on the basis of satisfactory evidence to be the person(s) whose name(s)@re within instrument and acknowledged to executed lhe authorized capacity(ies), and that by or the entity upon behalf of which the person(s) acted, erltheir signature(s) on the instrument the person(s), executed the instrument. Ttle or Type of Document: . Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer@) Signer's Name: Signer's Name: 0 Individual 0 Individual 0 Corporate Officer 0 Corporate Onir nil+): * rte(s): 0 Partner - 0 Limited 0 General 0 Pattner-0 Limited ClGeneral 0 Attorney-in-Fact 0 Anomy-in-Fad 0 Trustee 0 Trustee 0' Guardian or Conservator 0 Guardian or Consenfator 0, Other: 0 Other: . Signer Is Representing: Signer Is Representing: