HomeMy WebLinkAboutSDP 98-19; ; 2004-0459605; Subordination AgreementRecording Requested By:
First American Title
NCS Division San Diego 1
DOC # 2004-0459607
MClY 199 2004 3:5B PM
RECORDING REQUESTED
BY
WHEN RECORDED MAIL
TO:
City Clerk
CITY OF CARLSBAD
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].)
SPACE ABOVE THIS LINE FOR RECORDERS USE
ASSESSOR'S PARCEL NO. 215-020-1340, 215-020-92-01
PROJECT NO. & NAME: SDP 98-?9
Manzanita Apartments
PR 03-60 & PR 03-61
SUBORDINATION AGREEMENT
(TRUST DEED HOLDERS)
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR
SECURITY INTEREST IN THE PROPERTY BECOMING
SUBJECT TO ANlTHE EASEMENT(S) 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 2$'4day of &/A Cd , 20& by Manzanita
Partners, LLC, a California limited liability company, owner of the land hereinafter described and
hereinafter referred to as "Owner," and California Bank and Trust, a California banking corporation,
present owner and holder of the deed of trust hereinafter described, hereinafter referred to as
"Beneficiary;"
WITNESSETH
WHEREAS, Manzanita Partners, LLC, a California limited liability company did execute a deed of
trust, dated December 1, 2003 to First American Title as trustee, to secure a note in the sum of
$28,600,000 dated December 1, 2003 in favor of California Bank and Trust, a California banking
corporation recorded in the office of the County Recorder of San Diego County on December 5, 2003 as
File No. 2003-1445499 of Official Records of said county; and
1
HYDEVELOPMENT SERVICESIMASTERSIAGREEMENTS, OTHEWSUBORDINATION AGREEMENT/Subordinattm iigieement Trust Deed Holders CityRev . 5131100
WHEREAS, Owner has executed, or is about to execute,.%
jated &h@d 2<, 2004 , in favor of the City of Carlsbad
nt of EASEMENTS
rein referred to as
'Easement Grantee" creating THE EASEMENTS more particularly described in EXHIBITS A & B attached
iereto; and
WHEREAS, Easement Grantee is willing to accept said EASEMENTS provided the grant of
EASEMENTS is a charge upon the above described property prior and superior to the lien or charge of the
jeed of trust above mentioned and provided that Beneficiary will specifically and unconditionally subor-
jinate the lien or charge of the deed of trust above mentioned to the lien or charge of the EASEMENTS
xeated in favor of Easement Grantee; and
WHEREAS, it is to the mutual benefit of the parties hereto that Easement Grantee accept said
EASEMENTS and Beneficiary is willing that the grant of EASEMENTS. shall, when recorded, constitute a
zharge 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 EASEMENTS above referred to, it is hereby
declared, understood and agreed as follows:
1. That said 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 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 EASEMENTS 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 EASEMENTS 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:
2
H:/DEVELOPMENT SERVICES/MASTERS/AGREEMENTS. OTHERJSUBORDINATION AGREEMENT/Subordlnatlon Agreement Trust Deed Holders CityRev 5/31/00
1. We consent to and approve the grant of EASEMENTS in favor of the Easement
Grantee.
2. We intentionally and unconditionally subordinate the lien or charge of the deed of
trust above mentioned to the EASEMENTS in favor of Easement Grantee above referred to and
understands that in reliance upon, and in consideration of, this subordination of the grant of EASEMENTS
is being executed and delivered, the EASEMENTS IS being created, and that specific monetary and other
I
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
Ill1
Ill
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3
H:/DEVELOPMENT SERVICES/MASTERS/AGREEMENTS. OTHEWSUBORDINATION AGREEMENT/Subordmation Agreement Trust Deed Holders CityRev. 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 instrument been subordinated to the charge of the
Easement in favor of Easement Grantee above referred to.
BENEFICIARY: California Bank and
Trust, a California banking corporation
I
OWNER: MANZANITA PARTNERS, LLC, a
California Limited Liability Company
By: ConAm Manzanita LP, a California
Limited Partnership its: Managing
Member
By: Continental American Properties,
Partnership
Ltd., a California Limited
Its: General Partner
By: DJE Financial Corp., a California
By: al (sign her
Erin Johnsen, Vice President
(print nzfhdifmndi Bank & Trust (print name here) I
fcG 9 Jteduwht
(title and organization of signatory)
By:
(print name here)
(title and organization of signatory)
(print name here)
ylLg-?REr,&!)€-dr t rEdErMy
(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(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
City Attorney
By:
3eputy City Attorney
4 I H:lDEVELOPMENT SERVICESIMASTERSIAGREEMENTS, OTHER/SUBORDINATION AGREEMENTlSubordination Agreement Trust Deed Holders CityRev. 5/31/00
ss. State of California ) 1
County of San Diego 1
On March 25, 2004, before me, Dollie G. Lewis, Notary Public,
personally appeared, Ralph W. Tilley and E. Scott Dupree,
@personally known to me - OR - 0 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 f&kr/their authorized
capacity(ies), and that by-hk#w/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Notary Public
34243
State of California
on?/& gf2w bem,re
'(Date) '
personally appeared EA /M/ &&v& I
(Name[s] of Signerls])
,!@personally known to me --
'
subscribed to the within instrument and acknowledged to me thatkefsheAkpxecuted the same in
) to be the person$) whose name ) is/= (( Id
.tpis/her/tkeiF authorized capacityo, and that by Mer#t& signature# on the instrument the
person@, or entity upon behalf of which the person# acted, executed the instrument.
WITNESS my hand and official seal
(This area for
official notary seal)
Title or Type of Document
Date of Document WA~I 3.4, Jd.44 No.of Pages A
Signer(s) other than named above lr), T2.h ,&mi 2 k&dt,*o*
6
H:/DEVELOPMENT SERVlCESiMASTERSAGREEMENTS. OTHEWSUBORDINATION AGREEMENTlSubordiMtion Agreement Trust Deed Holders CityRev. 5/31/00
Recording Requested By:
First American Title
8 . NCS Division San Diego
RECORDING REQUESTED BY:
WHEN RECORDED MAILTO:
City Clerk
CITY OF CARLSBAD
1200 Carlsbad Village Drive
Carlsbad, CA 92008
MAIL TAX EXEMPT STATEMENTS TO:
EXEMPT
The undersigned grantor(s) declare(s):
Documentary transfer tax is $o.oO 4 )r)
( ) computed on full value of prope 4 conveyed, or
( ) computed on full value less value of liens and
( ) Unincorporated area: (x) City of Carlsbad, and
encumbrances remaining at time of sale.
DOC # 2004-0459605
MllY 19w 2004 3~58 PM
I1 11111 Illll ill11 Ill1 1111
k REcdRakPs USE I IIIIII 11111 lllll mn I
SPk&-Arr: t
Assessor's Parcel No.:
Project No. 13 Name:
21 5-020-1 3-00.2 IS- 020 - 22
SDP 98-19
Manzanita Apartments
PR 03-61
GRANT DEED OF EASEMENT
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
MANZANITA PARTNERS, LLC, a California Limited Liability Company
,hereby GRANTS to
City of Carlsbad, a Municipal Corporation
I 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 three (3) pages, attached hereto and made a part hereof. Exhibit "B
consisting of five (5) pages is attached for clarity only.
STATE OF CALIFORNIA 1
1
MANZANITA PARTNERS, LLC, a California Limited
Liabiiity Company .
(Name of Company)
By: ConAm Manzanita LP, a California Limited
Partnership its: Managing Member
COUNTY OF SAN DIEGO 1 By: Continental American Properties,
On before me,
Ltd., a California Limited Partnership
Its: General Partner
LLl By: DJE Financial Corp., a California
By:
(Sig ure)
(here insert name and title of the officer),
personally appeared Name:f?scm D,&~cC??
personally known to me (or proved to me on the basis of
satisfactory evidence) to be the person@) whose name@)
islare subscribed to the within instrument and acknowledged
to me that hetshelthey 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 personb) acted, executed the instrument.
(Type or Print)
Title: l/9&!??R a,
..
WITNESS my hand and official seal.
Signature:
Word\Masters\Forms\Grant Deed of Easement - City
Name:
(Type or Print)
Title:
(Type or Print)
6/1/00
-00
ss. State of California 1 1
County of San Diego )
On March 25, 2004, before me, Dollie G. Lewis, Notary Public,
personally appeared, Ralph W. Tilley and E. Scott Dupree,
personally known to me - OR - 0 proved to me on the basis of satisfactory evidence
to be the person(s) whose name(s)-if/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in Wrltheir authorized
capacity(ies), and that by kidkef;/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
h-Q. 2iL4J Notary Public
PR 03-61
EXHIBIT "A"
PUBLIC RIGHT OF WAY DEDICATION AND ACCESS RIGHTS RELINQUISHMENT
EL CAMINO REAL WEST
LEGAL DESCRIPTION
SDP 98-19, HDP 98-18, SUP 98-06, CDP 98-73
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 23, TOWNSHIP 12
SOUTH, RANGE 4 WEST, SAN BERNADINO MERIDIAN, IN THE CITY OF CARLSBAD,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO OFFICIAL PLAT
THEREOF MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE SOUTHEAST QUARTER OF THE
SOUTHWEST QUARTER OF SAID SECTION 23;
THENCE ALONG THE EASTERLY LINE OF SAID SOUTHEAST QUARTER N 00" 32' 21"
TANGENT CURVE, CONCAVE NORTHEASTERLY HAVING A RADIAL BEARING OF N
58"13'24"E, BEING 63 FEET DISTANT FROM AND CONCENTRIC WITH THE
POINT BEING THE TRUE POINT OF BEGINNING;
E 49.98 FEET TO A POINT OF INTERSECTION WITH A 7063 FOOT RADIUS NON-
CENTERLINE OF EL CAMINO REAL AS SHOWN ON ROAD SURVEY 1800-1; SAID
THENCE NORTHWESTERLY ALONG SAID 7063 FOOT RADIUS CURVE CONCENTRIC
WITH AND 63 FEET DISTANT FROM SAID CENTERLINE, THROUGH A CENTRAL OF
02"43'57" A DISTANCE OF 336.84 FEET TO A POINT OF TANGENCY,
THENCE N 29"02'39"W, PARALLEL WITH AND 63 FEET DISTANT FROM SAID
CENTERLINE, 241.45 FEET TO A 1563 FOOT RADIUS TANGENT CURVE, CONCAVE
EASTERLY,
THENCE NORTHERLY ALONG SAID 1563 FOOT RADIUS CURVE, CONCENTRIC
WITH AND 63 FEET DISTANT FROM SAID CENTERLINE, THROUGH A CENTRAL
ANGLE OF 30"19'00" A DISTANCE OF 827.02 FEET TO A 40 FOOT RADIUS TANGENT
REVERSING CURVE CONCAVE WESTERLY;
THENCE NORTHERLY ALONG SAID 40 FOOT RADIUS CURVE THROUGH A
CENTRAL ANGLE OF 17"44'09" A DISTANCE OF 12.38 FEET TO A POINT OF
TANGENCY;
PAGE 1 OF 3
THENCE N 16'27'48"W 21.03 FEET TO A 60 FOOT RADIUS TANGENT CURVE
CONCAVE EASTERLY;
THENCE NORTHERLY ALONG SAID 60 FOOT RADIUS CURVE THROUGH A
CENTRAL ANGLE OF 19"38'45" A DISTANCE OF 20.57 FEET TO A 1575 FOOT RADIUS
TANGENT COMPOUND CURVE CONCAVE EASTERLY;
THENCE NORTHERLY ALONG SAID 1575 FOOT RADIUS CURVE, CONCENTRIC
WITH AND 75 FEET DISTANT FROM THE AFOREMENTIONED CENTERLINE,
THROUGH A CENTRAL ANGLE OF 2'51'53" A DISTANCE OF 78.75 FEET TO A 60
FOOT RADIUS TANGENT COMPOUND CURVE CONCAVE EASTERLY;
THENCE NORTHERLY ALONG SAID 60 FOOT RADIUS CURVE THROUGH A
CENTRAL ANGLE OF 11'41'39" A DISTANCE OF 12.25 FEET TO A TO A POINT OF
TANGENCY;
THENCE N 17'44'29"E 58.14 FEET TO A 40 FOOT RADIUS TANGENT CURVE
CONCAVE WESTERLY,
THENCE NORTHERLY ALONG SAID 40 FOOT RADIUS CURVE THROUGH A
CENTRAL ANGLE OF 8'56'01" A DISTANCE OF 6.24 FEET TO A 1563 FOOT RADIUS
TANGENT REVERSING CURVE CONCAVE EASTERLY
THENCE NORTHERLY ALONG SAID 1563 FOOT RADIUS CURVE, CONCENTRIC
WITH AND 63 FEET DISTANT FROM THE AFOREMENTIONED CENTERLINE,
THROUGH A CENTRAL ANGLE OF 0'54'10" A DISTANCE OF 24.63 FEET TO AN
ANGLE POINT;
THENCE N 22'07'24"E 40.61 FEET TO A POINT OF INTERSECTION WITH A 25 FOOT
CONCAVE SOUTHERLY
RADIUS NON-TANGENT CURVE HAVING A RADIAL BEARING OF S17"52'08"E,
THENCE WESTERLY ALONG SAID 25 FOOT RADIUS CURVE THROUGH A CENTRAL
ANGLE OF 15'35'30" A DISTANCE OF 6.80 FEET TO AN ANGLE POINT;
THENCE N 08'45'41"E 10.06 FEET TO AN ANGLE POINT;
PAGE 2 OF 3
THENCE S 41'17'25"E 43.07 FEET ALONG THE EXISTING WESTERLY RIGHT OF WAY
OF EL CAMINO REAL PER ORDER OF CONDEMNATION NO N68254-1 RECORDED
APRIL 12, 1996 AS FILE NUMBER 1996-0181733 OF OFFICIAL RECORDS; TO A POINT
OF INTERSECTION WITH A 1558 FOOT RADIUS NON-TANGENT CURVE CONCAVE
EASTERLY SAID POINT HAVING A RADIAL, BEARING OF S7Y38'44"E;
THENCE SOUTHERLY ALONG SAID 1558 FOOT RADIUS CURVE THROUGH A
CENTRAL ANGLE OF 1'56'27" A DISTANCE OF 52.78 FEET TO A AN INTERSECTION
OF S84'36'47"E, CONCAVE EASTERLY;
WITH A 1205 FOOT RADIUS NON-TANGENT CURVE HAVING A RADIAL BEARING
THENCE SOUTHERLY ALONG SAID 1205 FOOT RADIUS CURVE THROUGH A
CENTRAL ANGLE OF 8'48'36" A DISTANCE OF 185.29 FEET TO AN INTERSECTION
OF S88"24'34"E, CONCAVE EASTERLY;
WITH A 1545 FOOT RADIUS NON-TANGENT CURVE HAVING A RADIAL BEARING
THENCE SOUTHERLY ALONG SAID 1545 FOOT RADIUS CURVE, CONCENTRIC WITH
AND 45 FEET DISTANT FROM THE AFOREMENTIONED CENTERLINE, THROUGH A
CENTRAL ANGLE OF 30°38'05" A DISTANCE OF 826.08 FEET;
THENCE S29'02'39"W PARALLEL WITH AND 45 FEET DISTANT FROM
AFOREMENTIONED CENTERLINE 241.45 FEET TO AN INTERSECTION WITH A 7045
FOOT RADIUS TANGENT CURVE, CONCAVE NORTHEASTERLY;
THENCE SOUTHERLY ALONG SAID 7045 FOOT RADIUS CURVE, CONCENTRIC WITH
AND 45 DISTANT FROM THE AFOREMENTIONED CENTERLINE, THROUGH A
CENTRAL ANGLE OF 2'30'02" A DISTANCE OF 307.46 FEET TO THE EASTERLY LINE
OF SAID SOUTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION
23 THENCE S00'32'21"W ALONG SAID EASTERLY LINE 33.78 FEET TO THE TRUE
POIINT OF BEGINNING.
CONTAINING 0.68 ACRES MORE OR LESS.
PAGE 3 OF 3
EXHIBIT "B"
PREPARED By:
MS~GN & DN~OSLV~CT
1811 ROCK SPRINGS ROAD
SAN MARCOS, CA. 92069
-k WEST SIDE EL CAMIN0 RUL DEDlCA77ON AND ACCESS RIGHTS
REUNQUISHMENT FOR WZWITA
PARTNERS PUOPEU7Y SDP-98- 19 SUP 98-06, CDP 98-73 TEL- 760-494-1 1 10
24223
PR 03-61
APN 2 15-020- 13
APN 2 15-020-22
LEGEND
OWNERSHIP BOUNDARY
CL OF ROAD
M EASEMENTS
PORTION TO BE DEDICATED
AND ACCESS RIGHTS
RELINQUISHED
DEDICATION SQUARE FOOTME= 0.68f ACRES SHEET 1 OF 5
PREPARED By: sHwKwK€"EA DEsccJv&D"T
1811 ROCK SPRINGS ROAD
SAN MARCOS, CA 92069 I TEL- 760-494-1110
BEARINGS FOR THESE PLATS IS THE UNE BETWEEN MI0 WELL
MONUMENTS W/ BRASS CAPS STAMPED
"S.D. CO. ENGINEER" PER SD R.O.W. MAP
S 14588 AS THE CHORD BEWEEN THE BC & EC OF A 1500 FOOT RADIUS CURVE
LE. N 4'02'15' E
R-1800-1 AND R OF
GRAPHIC SCALE SHEET 2 OF 5
WEST SIDE EL CAMINO RUL DED/CA77Off AND ACCESS RIGHTS
RELINQUISHMENT FOR MANZANITA
PARTNERS PROPERV SDP-98- 19 SUP 98-06, CDP 98-73
PR 03-61
APN 215-020-13
APN 2 15-020-22
~ PREPARED By: -4 & DNUOSJUPCT
181 1 ROCK SPRINGS ROAD
SAN MARCOS, CA 92069
mL- 760-494-1 1 10
PR 03-61 APN 215-020-13 APN 275-020-22
WfST SIDE €1 CAMIN0 REAL
DEDlCA77ON AND ACCESS RIGHTS RELINQUISHMENT FOR WWITA PARTNERS PROPfRW SDP-98- 19 SUP 98-06, CDP 98-73
LINE BEARING
L1 N29'02'39"W
L2 N1827'48"W
"E -w Fr 10.06'1
LENGTH
241.45'
21.03'
58.14'
40.61'
N1 T44'29
N2T07'24
N08'45'41 - L6 N41'17'25"W
L7 N29'02'39"W
L8 N00'32'21 "E
43.07'
241.45'~
33.78'
SHEET 5 OF 5
PREPARED By:
I)IESIC~V & m-, WEST SIDE EL WINO RGU
RELINQUISHMENT fOR MANZANITA
PARTNERS PROPERTY SOP-98- 7 9 SUP 98-06, CDP 98-73
DEDlCA77ON AND ACCESS RIGHTS
181 1 ROCK SPRINGS ROAD
SAN MARCOS. CA. 92069
TEL- 760-494-1 1 10
PR 03-67
APN 275-020- 72 APN 215-020-22
CERTIFICATION FOR ACCEPTANCE OF DEED
This is to certify that the interest in real property conveyed by the GRANT DEED OF
EASEMENT dated March 25.2004, from Manzanita Partners. LLC, a California Limited
Liability company. to the City of Carlsbad, California, a municipal corporation, is hereby
accepted by the City Council of the City of Carlsbad, California, pursuant to Ordinance No. NS-
422, adopted on September 16, 1997, and the grantee consents to the recordation thereof by its
duly authorized officer.
DATED: Mav 10.2004
Ronna Stickrod, De