HomeMy WebLinkAboutSDP 98-19; ; 2004-0459606; 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
Ill
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
4
B
Recording Requested By:
First American Title
NCS Division San Diego
RECORDING REQUESTED BY:
WHEN RECORDED MAIL TO:
City Clerk
CITY OF CARLSBAD
1200 Carlsbad Village Drive
Carlsbad, CA 92008
MAIL TAX EXEMPT STATEMENTS TO:
EXEMPT
DOC # 2004-0459606
MCIY 19s 2004 3~558 PM
Assessor‘s Parcel No.: -2\5-020-22-00
Project No. & Name: SDP 98-19
The undersigned grantor(s) declare@):
Documentary transfer tax is $w W
( ) computed on full value of prope
( ) computed on full value less value of liens and
( ) Unincorporated area: (x) City of Carlsbad, and
conveyed, or Manzanita Apartments
Cassia Road
PR 03-60 4
encumbrances remaining at time of sale.
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
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) pages, attached hereto and made a part hereof. Exhibit “B”
consisting of four (4) pages is attached for clarity only.
STATE OF CALIFORNIA )
1
COUNTY OF SAN DIEGO 1
MANZANITA PARTNERS, LLC, a California Limited Liability Company
(Name of Company)
By: ConAm Manzanita LP, a California Limited
Partnership its: Managing Member
By: Continental American Properties,
Ltd., a California Limited Partnership
Its: General Partner
On before me, By: DJE Financial Corp., a California
Limited Pamits: General
(here insert name and title of the officer),
personally appeared
personally known to me (or proved to me on the basis of
satisfactory evidence) to be the person(s) whose name@)
islare subscribed to the within instrument and acknowledged
to me that helshelthey executed the same in hislherltheir
authorized capacity(ies), and that by hislherltheir signature@)
on the instrument the person@). or the entity upon behalf
of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature:
Word\Masters\Forms\Granl Deed of Easerwenl - City
(Signature#
By:
lTvnn nr Print)
Isionathe) I --
Name:
(Type or Print) ,
Title: Je&4d i (Type or Print)
6/1/00
ss. State of California )
) County of San Diego )
On March 25,2004, before me, Dollie G. Lewis, Notary Public,
personally appeared, Ralph W. Tilley and E. Scott Dupree,
Wpersonally known to me - OR - 0 proved to me on the basis of satisfactory evidence
to be the person(s) whose name(s) Mare subscribed to the within instrument and
acknowledged to me that iw%he/they executed the same in kidkerltheir authorized
capacity(ies), and that by Wtheir 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.
I
' Notary Public
PR 03-60
EXHIBIT "A"
DEDICATION FOR PUBLIC RIGHT OF WAY
FOR CASSIA ROAD
LEGAL DESCRIPTION
SDP 98-19, HDP 98-18, SUP 98-06, CDP 98-73
THAT PORTION OF THE SOUTHERLY TEN ACRES OF THE NORTHEAST QUARTER
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 THE OFFICIAL PLAT THEREOF,
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
A TEN FOOT STRIP OF LAND ADJACENT TO AND PAR4LELL WITH THE
SOUTHERLY RIGHT OF WAY OF CASSIA RD AS TAKEN BY THE CITY OF
CARLSBAD IN FINAL ORDER OF CONDEMNATION RECORDED APRIL 12,1996 PER
DOCUMENT NUMBER 1996-0181733 OF OFFICIAL RECORDS AND FINAL ORDER OF
CONDEMNATION RECORDED FEBRUARY 12, 1998 PER DOCUMENT NUMBER 1998-
0075 1 1 1 OF OFFICIAL RECORDS MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF PARCEL 2 OF PARCEL MAP 1188
RECORDED DECEMBER 20, 1972 AS FILE NO. 340334; THENCE SOUTH
00'33'1O"WEST ALONG THE WESTERLY BOUNDARY OF THE NORTHEAST
QUARTER OF THE SOUTHWEST QUARTER OF SECTION 23 TOWNSHIP 12 SOUTH
RANGE 4 WEST OF THE SAN BERNADINO MERIDIAN 281.89 FEET TO A POINT OF
NORTHWESTERLY, HAVING A RADIAL BEARING TO SAID CURVE OF NORTH
35'35'36" WEST, SAID POINT ALSO BEING THE POINT OF INTERSECTION OF THE
SOUTHERLY RIGHT OF WAY OF CASSIA ROAD AS TAKEN BY THE CITY OF
CARCSBAD IN THE FINAL ORDER OF CONDEMNATION RECORDED FEBRUARY 12,
NORTHEASTERLY ALONG A 320 FOOT RADIUS CURVE ALONG SAID RIGHT OF
WAY THROUGH A CENTRAL, ANGLE OF 17" 20' 15" AN ARC LEGTH OF 96.83 FEET;
THENCE NORTH 37" 04' 09" EAST 100.97' TO THE BEGINNING OF A TANGENT 280
FOOT RADIUS CURVE CONCAVE SOUTHEASTERLY THENCE NORTHEASTERLY
ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 53"22'53" AN
INTERSECTION WITH A NON-TANGENT 320' RADIUS CURVE CONCAVE
1998 AS DOCUMENT NUMBER 1998-075111 OF OFFICIAL RECORDS; THENCE
i
PAGE 1 OF 2
ARC LENGTH OF 260.87 FEET; THENCE SOUTH 89’32’58” EAST 470.89 FEET ALONG
THE SOUTHERLY RIGHT OF WAY OF CASSIA ROAD AS TAKEN BY THE CITY OF
CARLSBAD IN THE FINAL ORDER OF CONDEMNATION RECORDED APRIL 12,1996
OF A TANGENT 280.00 FOOT RADIUS CURVE CONCAVE SOUTHERLY THENCE
EASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF
01’49’36‘‘ AN ARC LENGTH OF 8.93 FEET; THENCE SOUTH 87’43’22”EAST 18.06 FEET;
THENCE LEAVING SAID SOUTHERLY RIGHT OF WAY OF CASSIA ROAD SOUTH
08’45’41” WEST 10.06 FEET TO A POINT 10 FEET DISTANT FROM AND
PERPENDICULAR TO THE SOUTHERLY RIGHT OF WAY OF CASSIA ROAD AS
TAKEN BY THE CITY OF CARLSBAD IN THE FINAL ORDER OF CONDEMNATION
RECORDS THENCE ; ALONG SAID SOUTHERLY RIGHT OF WAY NORTH 87’43’22’’
WEST A DISTANCE OF 16.92 FEET; TO THE BEGINNING OF A TANGENT 270.00 FOOT
RADIUS CURVE CONCAVE SOUTHERLY THENCE WESTERLY ALONG THE ARC OF
SAID CURVE THROUGH A CENTRAL ANGLE OF Ol”49’36” AN ARC LENGTH OF 8.61
FEET; THENCE NORTH 89’32’58” WEST A DISTANCE OF 470.89 FEET TO THE
BEGINNING OF A TANGENT 270.00 FOOT RADIUS CURVE CONCAVE
SOUTHEASTERLY THENCE WESTERLY ALONG THE ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF 53’22’53” AN ARC LENGTH OF 25 1.55 FEET;
AS DOCUMENT NUMBER 1996-0 18 1733 OF OFFICIAL RECORDS, TO THE BEGINMNG
RECORDED APRIL 12, 1996 AS DOCUMENT NUMBER 1996-0181733 OF OFFICIAL
THENCE SOUTH 37’ 04‘ 09” WEST 100.97 FEET TO THE BEGINNING OF A TANGENT
330.00 FOOT RADIUS CURVE CONCAVE NORTHWESTERLY THENCE
SOUTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL
ANGLE OF 18’35’45” AN ARC LENGTH OF 107.10 FEET; TO A POINT OF
INTERSECTION WITH THE WESTERLY LINE OF THE NORTHWEST QUARTER OF
THE SOUTHWEST QUARTER OF SECTION 23 TOWNSHIP 12 SOUTH RANGE 4 WEST,
SAN BERNADINO MERIDIAN;
THENCE NORTH 00’33’10” EAST ALONG THE WESTERLY LINE OF THE NORTHWEST
QUARTER OF THE SOUTHWEST QUARTER OF SECTION 23 TOWNSHIP 12 SOUTH
RANGE 4 WEST, SAN BERNADINO MERIDIAN, 12.29 FEET TO THE POINT OF
BEGINNING.
CONTAINING 0.22 ACRES MORE OR LESS
PAGE 2 OF 2
EXHIBIT "B"
PREPARED By:
SHAluROcKEWKWENXM
1811 ROCK SPRINGS ROAD
SAN MARCOS, ck 92069
TU- 760-494- 1 1 10
& DNELOPL~~CT CASSA ROAD DEDlCA77ON FOR W2WrA PARMERS PUOPERW SOP-98- 19 SUP 98-06, COP 98-73
24233
PR 03-60
APN 215-020-22
LEGEND
OWNERSHIP BOUNDARY
CL OF ROAD
Ex EASEMENTS
PORTION TO BE DEDICATED
VICINITY MAP
SHEn 1 OF 4 DEDICATION SQUARE FOOTME= 0.22f ACRES
PLATS IS THE UNE BETWEEN TWO WELL
MONUMENTS W/
BRASS CAPS STAMPED
"S.D. CO. ENGINEER" PER SD R.O.W. MAP R-1800-1 AND R OF s 1688 AS THE CHORD BEWEEN THE BC & EC OF A 1500 FOOT RADIUS CURVE
I.E. N 402'15" E
i
\ \'\ b
\ I
1811 ROCK SPRINGS ROAD
SAN MARCOS, CA. 92069
\ \\ \ \\ a
'I
\\ \ 0 150 300 450 600
CASslA ROAD DEDlCATlON
FOR WMFA PARMERS PROPERW SDP-98- 19 SUP 98-06, CDP 98-73 -
PR 03-60
APN 215-020-22
II I
L6
L7
It EXHIBIT "B" 24236
N87'43'22"W 16.92'
N89'32'58"W 470.89'
I LINE TABLE I
CURVE DELTA
C1 1P20'15"
I I UNE BEARING I LENGTH
RADIUS LENGTH
320.00' 96.83'
NW33'1 ONE 12.29'
N37'04'09"E 100.97'
N89'32'58"W 470.89'
L4 N87'43'22"W 18.06'
10.06'
I L8 I N37'04'09"E I 1 00.97' I
1 PREPARED By: I
sIyuI(RocK€MmmM€mA DEsGUhmmENT
1811 ROCK SPRINGS ROAD
SAN MARCOS, CA 92069
CLzSsIA ROAD DEDKATlON FOR MAlJzANlTA
PARTNERS PUOPERTY SDP-98- 19 SUP 98-06, CDP 98-73
SHEET 4 OF 4
PR 03-60
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: May 10,2004