HomeMy WebLinkAbout; Kern, Lawrence Andrew & Madelein Carol; 2020-0651244; Subordination AgreementI •
RECORDfNG REQ{lESTEO BY:
$tewart Title of California, Inc.
DOC# 2020-0651244 .
111111111111 lllll 1111111111111111111111111111111111111111 1111111111111
Oct 23, 2020 11 :46 AM
OFFICIAL RECORDS
Ernest J . .Oronenburg, Jr., ·
AND WHEN RECORDED
MAILTQ:
SAN DIEGO COUNTY RECORDER
FEES: $32.00 (SB2 Atkins: $0.00)
PAGES: 7
C~r1st,Jad Housing Servii;;es Department
Attn: HQ\Jslng S!;Jrvlces Olrector
1200 Ccjrls~ad Villag~ Orlve
Car1s!)a~. CA 92008
S1,.JBORINATION AGREEMENT
{Please fill in docvment title(s) on this line)
l q Exempt from fee per GC27388.1 due to being recorded In connection with concurrent transfer that
Is subject to the Imposition of documentary transfer tax, or,
2 q Exempt from fee per GC27388.l due to being recorded in connection with a transfer that was
subject to documentary transfer tax which was paid on document recorded previously on
________ (date•) as document number ____________ of Official
Records, or,
3 □ ~xernpt from fee per GC27388.l due to the maximum fees being paid on documents In this
transaction, or:
4 CJ Exempt from fee per GC27388.1 due to the maximum fees having been paid on documents in the
transactlon(s) recorded previously on __________ (date•) as document number(s)
5
6
7
8
9
IZJ
[J
0
□
□
________________________ of Official Records, or,
~xempt from fee per GC27388.1, document transfers real property that is a residential dwelling to
an owner-occupier, or, document Is recorded in connection with concurrent transfer that Is a
residential dwelling to an owner-occupier, or,
Exempt from fee per GC27388.1 due to it being recorded In connection with a transfer of real
property that is a residential dwelling to an ow;,er-occupler. The recorded document tra,,sferring
the dwelling to the owner-occupier was recorded on __________ (date•) as
doc~ment number(s)
Exempt from fee per GC27388.1 due to being executed or recorded by the federal government in
accordance with the Uniform Federal Lien Registration Act, by the state, or any county,
mvniclpalityor other political subdivision of the state, or,
Exempt from the fee per GC 27388.1 (a) (1); Not related to real property, or,
Exempt from fee under GC27388.1 for the following reasons:
TH IS PAGE ADDED TO P ROVI OE SENATE Blll.2 EXEMPIDN INFORMAlX)N
(Additional recording fee applies)
Rev 5/18 •rhe Prior Recording Reference must have been recorded within the last 60 days and Is subject to review
RECORDING REQUESTED BY:
Stewart Title of California, Inc.
AND WHEN RECORDED
MAIL TO:
Carlsbad Housing Services Department
Attn: Housing Services Director
1200 Carlsbad Village Drive
Carlsbad, CA 92008
SUBORINATION AGREEMENT
(Please fill in document title(s) on this line)
1 D Exempt from fee per GC27388.l due to being recorded in connection with concurrent transfer that
is subject to the imposition of documentary transfer tax, or,
2 D Exempt from fee per GC27388.1 due to being recorded in connection with a transfer that was
subject to documentary transfer tax which was paid on document recorded previously on
_______ (date•) as document number ____________ of Official
Records, or,
3 D Exempt from fee per GC27388.l due to the maximum fees being paid on documents in this
transaction, or,
4 D Exempt from fee per GC27388.1 due to the maximum fees having been paid on documents in the
transaction(s) recorded previously on __________ (date*) as document number(s)
________________________ of Official Records, or,
5 Ill Exempt from fee per GC27388.l, document transfers real property that is a residential dwelling to
an owner-occupier, or, document is recorded in connection with concurrent transfer that is a
residential dwelling to an owner-occupier, or,
6 0 Exempt from fee per GC27388.l due to it being recorded in connection with a transfer of real
property that is a residential dwelling to an owner-occupier. The recorded document transferring
the dwelling to the owner-occupier was recorded on __________ (date*) as
document number(s)
7 O Exempt from fee per GC27388.l due to being executed or recorded by the federal government in
accordance with the Uniform Federal Lien Registration Act, by the state, or any county,
municipality or other political subdivision of the state, or,
8 D Exempt from the fee per GC 27388.1 (a) {l); Not related to real property, or,
9 D Exempt from fee under GC27388.l for the following reasons:
Rev 5/18
THIS PAGE ADDED TO PROVIDE SENATE BILL2 EXEMPOON INFORMATION
(Additional recording fee applies)
*The Prior Recording Reference must have been recorded within the last 60 days and is subject to review
' RECORDING REQUESTED BY
STEWART TITLE OF CALIFORNIA, INC.
RECORDING REQUESTED BY:
City of Carlsbad
WHEN RECORDED MAIL TO:
Carlsbad Housing Services Department
Attn: Housing Services Director
I 200 Carlsbad Vi II age Drive
Carlsbad, California 92008
(Space above for Recorder's Use)
SUBORDINATION AGREEMENT
(REFINANCE)
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS
IN YOUR SECURITY INTEREST IN THE PROPERTY
BECOMING SUBJECT TO AND OF LOWER PRIORITY
THAN THE LIEN OF SOME OTHER OR LATER SECURITY
INSTRUMENT.
THIS AGREEMENT, made this /4'~ay of t)c-rz:,EGR.. , 2020, by LAWRENCE
ANDREW KERN AND MADELEIN CAROL KERN ("Owner"), owner of the land hereinafter
described, and the City of Carlsbad, a municipal corporation ("Beneficiary"), present owner and
holder of the deed of trust and promissory note first hereinafter described.
WITNESSETH
THAT WHEREAS, Owner did execute a deed of trust, dated JANUARY 13, 1999 to CHICAGO
TITLE COMPANY, as trustee, covering:
Complete legal description as more particularly described in "Exhibit A" attached hereto and
made a part hereof.
To secure a note in the sum of TWENTY THOUSAND DOLLARS ($20,000), dated JANUARY 13,
1999, in favor of Beneficiary, which deed of trust was recorded on JANUARY 19, 1999 as
Document No. 1999-0029 l 99 of Official Records of San Diego County; and
WHEREAS, Owner desires to refinance the property and has executed, or is about to execute, a new
deed of trust and note in the sum of THREE HUNDRED EIGHTY THOUSAND DOLLARS
($380,000) dated October 5, 2020 in favor of UNITED WHOLESALE MORTGAGE,
hereinafter referred to as "Lender," payable with interest and upon the terms and conditions
described therein, which deed of trust is to be recorded concurrently herewith; and
WH EREAS, it is a condition precedent to obtaining said loan that said deed of trust last above
mentioned sha ll unconditionally be a lien or charge upon the land hereinbefore described, prior and
superior to the lien or charge of the deed of trust first above mentioned; and
CA 3/6/20 14
WHEREAS, Lender is willing to make said loan provided the deed of trust securing the same is a
lien or charge upon the above described property prior and superior to the lien or charge of the deed
of trust first above mentioned and provided that Beneficiary will specifically and unconditionally
subordinate the lien or charge of the deed of trust first above mentioned to the lien or charge of the
deed of trust in favor of Lender; and
WHEREAS, Beneficiary is willing to subordinate to said loan provided that Lender shall deliver to
Benefic iary a default notice within fi ve business days in each case w here Lender has given a default
notice to Owner at the following address:
Carlsbad Housing Services Department
Attn: Housing Services Director
1200 Carlsbad Village Drive
Carlsbad, California 92008
with a copy to:
Carlsbad City Attorney
C ity of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, California 92008
Benefi ciary shall have the opportunity, but not the obligation, to cure any default within 60 days
following the date of such notice; provided, however that Lender shall be entitled, during such 60-
day period, to continue to pursue its rights and remedies under the loan documents. All amounts paid
by Benefi ciary to Lender to cure any default under the Lender loan documents shall be added to the
amount of the Beneficiary loan and shall be secured by the lien of the Beneficiary.
WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner;
and Benefi ciary is willing that the deed of trust securing the same shall, when recorded, constitute a
lien or charge upon said land whi ch is unconditionally prior and superior to the lien or charge of the
deed of trust first above mentioned.
NOW, T HEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other
valuable consideration, the receipt and sufficiency of whi ch consideration is hereby acknowledged,
and in order to induce Lender to make the loan above referred to, it is hereby declared, understood
and agreed as follows:
(I) That said deed of trust securing said note in favor of Lender sha ll unconditionally be a
lien or charge on the property therein described, prior and superior to the lien or charge
of the deed of trust first above mentioned.
(2) That Lender would not make its loan above described without this subordination
agreement.
(3) That Benefi ciary shall have the rig ht to a Notice of Default, within five business days in
each case where Lender has given a default notice to Owner and Beneficiary shall have
2
CA 3/6/2014
the opportunity, but not the obligation, to cure any default within 60 days following the
date of such notice. ·
(4) That Beneficiary intentionally and unconditionally waives, relinquishes and subordinates
the lien or charge if the deed of trust first above mentioned in favor of the lien or charge
upon said land of the deed of trust in favor of Lender above referred to and understands
that in reliance upon, and in consideration of, this waiver, relinquishment and
subordination a specific loan and/or advances are being made which would not be made
but for said reliance upon this waiver, relinquishment and subordination .
OWNER(S)
By: x~ 4~
Name: LA WREN CE A. KERN
A,'lt-A-Le.. \;I~ ~
Dated: /t://7/ ~? 7.,
I I
By: _...!,.{~---+-/-'7c..../L.=_2..:....::c,~z.:....::o:;:__ _____ _
Name: MADELEIN C. KERN
'1r~A kA U:: k, ~ !Gun
Dated:~ o\ o;cv::-,, C.. K..sv:\.n,
.
CITY~~1tS~A, . l,
By: ~ \ u....--
Geoff Patnoe, Assistant C ity Manager
Dated: \.::, l t l. { ~
(PROPER NOTARIAL ACKNOWLEDGEMENT OF EXECUTION IS REQUIRED. IT IS
RECOMMENDED THAT PRJOR TO THE EXECUTION OF THIS SUBORDIN ATION
AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WlTH RESPECT
THERETO.)
APPROVED AS TO FORM
Dated: _f_0 -+--,(,1---+( c;:-+(......._d--""""-U __
3
CA 3/6/2014
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or
validity of that document.
State of California
County of San Diego
On Oc.-±. \ 9 , c?,(;f),D before me, Morgen Fry, Notary Public
(insert name and title of the officer)
personally appeared (7e___o££. £/l..:tnDf,
who proved to me on the basis of satisfactory evidence to be the person~ whose name~ is/ai:e
subscribed to the within instrument and acknowledged to me that hetel'le~I ,eyexecuted the same in
hisiheFAl::uiir authorized capacity(ia8t, and that by his/hef/their signature~ on the instrument the
personpr,, or the entity upon behalf of which the personM acted, executed the instrument.
I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
Signature\.~~ (Seal)
~------······~ ,~ MOIIGEN F~Y : :s .... -~. Notilry Publlc • Cilifernli z ~ ! . · = Sin Diego County ~
z "\. . ·· • ~ Commission II 2268605 -
c,,,, •' My Comm. Expire,; Dec H , 2022
DESCRIPTION
THAT PORTION OF TRACT 247 OF THUM LANDS, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 1681, FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY, DECEMBER 9, 1915, DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT OF INTERSECTION OF THE EASTERLY PROLONGATION OF THE CENTER LINE OF
TAMARACK AVENUE, WITH THE CENTER LINE OF HIGHLAND DRIVE, FORMERLY HIGHLAND STREET; THENCE
NORTH 28 DEGREES 39' WEST, ALONG THE CENTER LINE OF HIGHLAND DRIVE, FORMERLY HIGHLAND
STREET, A DISTANCE OF 261.40 FEET, TO THE MOST WESTERLY CORNER OF THE LAND CONVEYED TO
HENRY J. BETZMER, ET TJX, BY DEED RECORDED JULY 1, 1949 AT BOOK 3244, PAGE 199 OF OFFICIAL
RECORDS, SAID POINT BEING THE TRUE POINT OF BEGINNING; THENCE CONTINUING NORTH 28 DEGREES
39' WEST, ALONG SAID CENTER LINE, 107.40 FEET, TO THE MOST SOUTHERLY CORNER OF LAND
CONVEYED TO CARL GOGLIN, ET UX, BY DEED RECORDED JANUARY 16, 1950 IN BOOK 3455, PAGE 103
OF OFFICIAL RECORDS; THENCE NORTH 61 DEGREES 21' EAST, ALONG THE NORTHWESTERLY LINE OF
SAID GOGLIN'S LAND AND THE NORTHEASTERLY PROLONGATION THEREOF; 405.59 FEET; THENCE SOUTH
28 DEGREES 39' EAST, PARALLEL WITH SAID CENTER LINE OF HIGHLAND DRIVE, A DISTANCE OF
107.40 FEET, TO THE INTERSECTION WITH THE NORTHEASTERLY PROLONGATION OF THE NORTHWESTERLY
LINE OF BETZMER'S LAND ABOVE MENTIONED; THENCE SOUTH 61 DEGREES 21' WEST, ALONG SAID
PROLONGATION AND ALONG SAID NORTHWESTERLY LINE, 405.59 FEET TO THE TRUE POINT OF
BEGINNING.
A notary public or other officer completing this certificate verifies only the identity of the individual who
signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of
that document.
ALL PURPOSE ACKNOWLEDGMENT
STATE OF CALIFORNIA
COUNTYOF ~~
On IO /7 f 2,o 1o before me , __ '(_m_e_~_..._. ----'>__,J'---~--"""""Kim--=---=' '-"-'-__ Notary Public,
(here insert name and title of the officer)
personally appeared _ __.,_{ _ _.Q»J"""""'"=-=-..... (-e,=~----,,,"------'-'-~--'-':..:...{--=-ll~____,,Q.=·=oJ---"-~------
maJ ~~ fun
who proved to me on the basis of satisfactory evidence to be the person~hose name@ i~
subscribed the within instrume~nd acknowledged to ~at he/sh0~executed the same in
his/her/ 1ei authorized capacity~ and that by his/her/~ignatur~n the instrument the
perso s or the entity upon behalf of which the persorf§Yacted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
Signature:
a a e
EMESE J. SAFFIAN I
COMM. #2214769
NOTARY PUBLIC-CALIFORNIA £?
SAN DIEGO COUNTY g
My Commission Expires 1 SEPTEMBER 18, 2021 _ @uo tfa/lr L (seo11
__________ OPTIONAL _________ _
Desniption of Attached Document J•
Title or Type of Document: ~( I.
Number of Pagi>s: ::3
Document Date: l of ,I Q-0?0
Other: _________________ _
~