2001-547022
.- -----
'\J?
\Q.> . , DOC 2001-0547022
- .......,.
PECOADING REQUESTED BY:
J....~erican Title Company AUG 0::5.. 2001 8:00 AM
Escrow No. 3051 95-JT
Title Order No. 9594989 ŒFICIft REIDœ
When Recorded Mail Document To: 2153 .. DIEm aum REIŒŒR'SIFFIŒ
City of Encinitas (mDY J. laTH, aDfTV IIIDIR
505 South Vulcan Avenue ÆES: 23.00
Encinitas, CA 92024 .: 2
r$
'\~~
-
APN: 260-¿ 77-03-00
cO,tlfi1 SUBORDINATION AGREEMENT
þr3~kG
NOTICE: THIS SUBORDINA nON AGREEMENT RESULTS IN YOUR INTEREST IN THE PROPERTY BECOMING
SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY
INSTRUMENT.
THIS AGREEMENT, made June 6, 2001, by Bruce E. Atwood Î)nd Joan H. Atwood, husband and wife as joint
tenants
owner of the land hereinafter described and hereinafter referred to as ' ')wner," and City of Encinitas, a political
subdivision of the State of California
present owner and holder of the Agreement for Improvements in Public Right-l'f-Way (Lien Contract) AND Covenant
Regarding Real P¡operty Waiver of Protest to Assessments first hereinafter det,,~ribed and hereinafter referred to as
"City";
WITNESSETH
THAT W:-IEREAS, Bruce E. Atwood and Joan H. Atwood, did execute an Agreement ~or Improvements in Public
Right-or Way (Lien Contract), dated August 30.2000 AND Covenant Regarding Real Prl',lerty Waiver of Protest to
Assessments, dated October 11, 2000, covering
FOR LEGAL DESCRIPTION SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF
in favor of City of Encinitas, a political subdivision of the State of California, which above referenced documents
were recorded as instrument no. 2001-0198005 and 2001-0198006. on April 3, 2001. in book n/a. page nla,
Official Records of said county; and
WHEREAS, Owner has executed. or is about to execute, a deed of tri.o~t and note in the sum of NOT TO EXCEED
$299,600.00 dated -. . in favor of National City Mortga{1e Co., hereinafter referred to as "Lender."
payable with interest and upon the terms and conditions described ther~I:1. which deed of trust is to be recorded
concurrently herewith; and
WHEREAS. it is a condition precedent to obtaining said loan that said deed d trust last above mentioned shall
unconditional!' be and remain at all times a lien or charge upon the land hereinbc~ore described. prior and superior
to the lien(S) first above mentioned; and
WHEREA~-';, lender is willing to make said loan provided the deed of trust securing the \ame is a lien or charge upon
the abc-ve described property prior and superior to the lien(s) first above mentioned '.:nd provided that City will
specifically and unconditionally subordinate the lien(s) first above mentioned to the lien or '.~harge of the deed of trust
in favor of Lender; and
FD-46A (Rev. 9/94) INIT~~, ~~
Page No.., .3
~--
.
, . .. 2154
APN: 260-277-03-00 -- - ~EREAS, it is to the mutual benefit of the parties hereto that lender mtlke such loan to Owner; and City is willing
that the deed of trust securing the same shall, when recorded, constitute ..1 lien or charge upon said land which is
unconditionally prior and superior to the lien(s) first above mentioned.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the _'arties hereto and other valuable
consideration, the receipt and sufficiency of which consideration is hereby acknr.wledged, and in order to induce
lender to make the loan above referred to, it is hereby declared, understood and ¡)greed as follows:
(1) That said deed of trust securing said note in favor of lender, and ,my renewals or extensions
thereof, shall unconditionally be and remain at all times a lien or charge on the property therein
described, prior and superior to the lien(s) above mentioned.
(2) That lender would not make its loan 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(s) first above mentioned to the lien or charg~ of the deed of trust in favor of lender above
referred to and shall supersede and cancel, but only ¡"sofar as would affect the priority between the
deeds of trustllien(s) hereinbefore specifically de.:.-:ribed, any prior agreement as to such
suborc',jnation including, but not limited, those provision::, if any, contained in the lien(s) first above
mentioned, which provide for the subordination of the liEIl(S) to another deed or deeds of trust or
to another mortgage or mortgages.
City declares, aprees and acknowledges that
(a) He consents to and approves (i) all provisions of the note and deed .1f trust in favor of lender above
referred to, and (ii) all agreements, including but not limited to anv loan or escrow agreements,
between Owner and lender for the disbursement of the proceeds of '-ender's loan;
(b) lender in making disbursements pursuant to any such agreement is undt'.r no obligation or duty to,
nor has lender represented that it will, see to the application of such proceeds by the person or
persons to whom lender disburses such proceeds and any application or use of such proceeds for
purposes other than those provided for in such agreement or agreements shall not defeat the
subordination herein made in whole or in part;
(c) He intentionally and unconditionally waives, relinc¡uishes and subordinates the lien(s) 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 UpOI'. and in consideration of, this waiver,
relinquishment and subordination, specific loans and advances are being and will be made and, as
part dnd parcel thereof, specific monetary and other oblig~tions are being and will be entered into
which would not be made or entered into but for said relianc~ upon this waiver, relinquishment and
suoordination; and
WIT~~, ~c¡Þ!
FD-46A (Rev. 9/94) Page No. of 3
, -"_._~'
. "- ..,
Â~ 260-277-03-00 -" --- 2155
NOTICE: TP,S SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
OBLIGATED (jN YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE
EXPENDED r=OR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION ;"GREEMENT, THE PARTIES
CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
'V-JJ ~ L
Bruce E. Atwood
~ ~ða:/
City Owner
(ALL SIGNATURES MUST BE ACKNOWLEDGED; f()ð~/G
STATE OF C~NI"nu.~
COUNTY OF
ON qu.£j/Î) jß()/ before me,~A-JJO~ t, 14./J...JSJè;U!e j)()7IIe..!1--- personally appeared
.,lILRIlf O. ~¡'¡I ÓltLj)
ersonall known to me r proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s)
. I re subscribed to the within instrument an~OWledged to me that (fii1ihe/they executed the same in
i er/their authorized capacity(ies), and that b his er/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. r-:~:;:------~;~~~:;;A~----l
Signature ~ 9 ~ ~
- ." . RANDA G. MILLJOUR
~: .: . NOTARY PUBLlC-CALIFORNIA~
cr: '" . COMM. NO. 1204250 .:-.
l " .. SAN DIEGO COUNTY J
-_~_~'~n ~Y_C~~~~X~~J~~~6::~
STATE OF r,~ b
COUNTY fJF 111-0
'ON til.,LL( 3:1 :JCD ( before me, ~A,.Jt¡.. h1 fL«.j"t }J~ flt.s~ personally appeared
ð I< uti., E-. ~DO /) ¡r,...J ð J 0 ItJ.../ H . /hvJD D Þ
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s)
is/are subscribed to the wit:lin instrument and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the ins~rument.
-'CATHERI/Æ II. -f
Witness my hand and official seal.
/kiJ¡ 1.IÁÀ1.P ~ i COMM. #12921~2 I
' ~ CIIIomiI
Signature 1.3 COUNTY ...
MYCommi88iori~.11:*)5'
FD-46A (Rev. 9/94) Page No.3 of 3
-- ., .
.,....,
~ ._~ ~- -'". - -:: ¡ :-" 215 6
-....
YOUR REFERENCE: 3O5195JT ORDER NO.: 9594969-34
EXHIBIT" A"
LOT D, IN BLOCK 83 OF CARDIFF VILLA TRACT, IN THE CITY OF ENCINITAS, COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 1469, FILED IN THE OFFICE
OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, AUGUST 10,1912.
TOGETHER WITH THAT PORTION OF SCHUBERT PATH BElWEEN BLOCK 83 AND BLOCK 82 OF
"CARDIFF VILLA TRAC1" ACCORDING TO THE MAP THEREOF NO. 1469, FILED IN THE OFFICE OF
THE COUNTY RECORDER OF SAN DIEGO COUN1Y ON AUGUST 10, 1912, AS CLOSED AND
VACAtED TO PUBLIC USE BY RESOLUTION NO, 94-14, OF THE CITY OF ENCINITAS, IN
DOCUMENT RECORDED MARCH 11, 1994, AS FILE NO. 1994-0161945 OF OFFICIAL RECORDS,
SAID PORTION OF SCHUBERT PATH BEING FURTHER BOUNDED ON THE SOUTHWEST BY THE
NORTHEAST LINE OF WESTMINSTER DRIVE AND ON THE NORTHEAST BY THE SOUTHWEST
LINE OF RUBENSTEIN AVENUE BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST EASTERLY CORNER OF LOT "A" BLOCK 83 ALSO BEING A POINT ON
THE NORTHERLY LINE OF SCHUBERT PATH; THENCE NORTH 32~' 32' 00" EAST A DISTANCE OF
57.30 FEET TO THE BEGINNING OF A 10.00 FOOT RADIUS CURVE CONCAVE TO THE NORTH;
THENCE NORTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 27v 56' 00" A
DISTANCE OF 4,88 FEET; THENCE NORTH 04v 36' 00" EAST A DISTANCE OF 29.82 FEET TO THE
BEGINNING OF A 142.25 FOOT RADIUS CURVE CONCAVE TO THE EAST; SAID CURVE IS 20 FEET
WESTERLY AND CONCENTRIC TO THE CENTERLINE OF RUBENSTEIN AVENUE; THENCE
SOUTHERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 26" 33' 00" A DISTANCE OF
85.92 FEET TO THE BEGINNING OF A 5.00 FOOT RADIUS CURVE CONCAVE TO THE SOUTH;
THENCE WESTERLY ALONG SAID CURVE AND THE SOUTHERLY LINE OF SCHUBERT PATH
THROUGH A CENTRAL ANGLE OF 125" 31' 00" A DISTANCE OF 10.95 FEET; THENCE SOUTH 32"
32' 00' WEST ALONG THE SOUTHERLY LINE OF SAID SCHUBERT PATH A DISTANCE OF 167.90
TO THE BEGINNING OF A 10.00 FOOT RADIUS CURVE CONCAVE TO THE EAST; THENCE ALONG
SAID CURVE THROUGH A CENTRAL ANGLE OF 64'" 57' 59" A DISTANCE OF 11.34 FEET TO A
POINT ON A 955.37 FEET RADIUS CURVE CONCAVE TO THE NORTHEAST; AND THE
NORTHEASTERLY LINE OF WESTMINSTER DRIVE; THENCE NORTH\NESTERL Y ALONG
WESTMINSTER DRIVE AND SAID CURVE THROUGH A CENTRAL ANGLE OF 2" 42' 24" A
DISTANCE OF 45.13 TO A POINT WHERE THE NORTHEASTERLY LINE OF WESTMINSTER DRIVE
INTERSECTS THE NORTHWESTERLY LINE OF SCHUBERT PATH SAID POINT ALSO ælNG A
10.00 FOOT RADIUS CURVE CONCAVE TO THE NORTH; THENCE EASTERLY ALONG SCHUBERT
PATH AND SAID CURVE THROUGH A CENTRAL ANGLE OF 117 44' 24" A DISTANCE OF 20.55
FEET; THENCE NOR~ 32/\ 921 00" EAST ALONG ~E NOR~ LINE OF SCHUBERT PATH A
DISTANce OF 112.94 FEET AND THE POINT OF BEGINNING.
...- -- .. :