2005-1090083
>
lender Service. PlD
Fidelity National Financial
16792
DOC # 2005-1090083
1111111111111111111111111111111111111111111111111111111111111111111111
DEe 20, 2005
3:57 PM
RECORDING REQUESTED BY:
LSI Title Company, a California Corporation
Escrow No.: 1755870
Title Order No.: 51755870
[IFFICI6.L RECDF:DS
'3,6JJ DIEC~O COUNT'/ RECORDER":; OFFICE
CiREI::iOR"I',J, ::;MITH. COUHT\-' F:ECORDER
FEES 4600
F'AGES' 7
ijl
\
19
'<^ APN.: 256-330-56-19
t I ~
WJ1en Rec~ed Mail Document To:
c..I+~ c.t1;. 0 f-r-Ite,..
City ofEnclnltas
505 S. Vulcan Avenue
Encinitas, CA 92024-3633
111111111111111111111111111111~Ml~II~~~III.III.1
SPACE ABOVE THIS LINE FOR RECORDER'S USE
SUBORDINATION AGREEMENT
Y"
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.
n
LilT 01
,)
THIS AGREEMENT, made November 22, 2005, by Catherine Theresa SheQt owner of the land
hereinafter described and hereinafter referred to as "Owner", and City of Encinitas present owner and
holder of the deed of trust and note first hereinafter described and hereinafter referred to as
"Beneficiary";
\
';<1
WITNESSETH
THAT WHEREAS, Catherine Theresa Shebl, a single woman, did execute a deed of trust, dated May 3,
1999, to , covering
SEE EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF
to secure a note in the sum of $15,650.00, dated May 3,1999, in favor of City of Encinitas, which deed
of trust was recorded as instrument no. 1999-0329085, on May 14, 1999, in book , page , Official
Records of said county; and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of
$150,000.00, dated, in favor of Credit Suiss/First Boston, 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
WHEREAS, it is a condition precedent to obtaining said loan that said deed of trust last above
mentioned shall unconditionally be and remain at all times 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
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, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and
Beneficiary is willing that the deed of trust securing the same shall, when recorded, constitute a lien or
Cl TA SUBORDINATION "A"
(EXISTING DEED OF TRUST TO NEW DEED OF TRUST) f/Jj
INITIALS: r } "
I --
16793
APN: 256-330-56-19
charge upon said land which is unconditionally prior and superior to the lien or charge of the deed of
trust first 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 Lender to make the loan abDve referred to, it is hereby declared, understDod and
agreed as fDIIDws:
(1) That said deed of trust securing said note in favor Df Lender, and any renewals or
extensiDns thereof, shall unconditiDnally be and remain at all times a lien or charge on
the prDperty therein described, prior and superiDr tD the lien Dr charge of the deed Df trust
abDve mentiDned.
(2) That Lender would not make its IDan abDve described without this subDrdinatiDn
agreement.
(3) That this agreement shall be the whole and only agreement with regard to the
subDrdinatiDn Df the lien Dr charge Df the deed Df trust first abDve mentioned tD the lien
or charge Df the deed of trust in favor Df lender above referred to and shall supersede
and cancel, but only insofar as WDuld affect the priority between the deeds Df trust
hereinbefDre specifically described, any prior agreement as to such subordinatiDn
including, but nDt limited, thDse provisiDns, if any, cDntained in the deed of trust first
abDve mentioned, which prDvide fDr the subordinatiDn of the lien Dr charge thereDf tD
anDther deed or deeds Df trust or to anDther mortgage Dr mortgages.
Beneficiary declares, agrees and acknDwledges that
(a) He consents to and approves (i) all provisiDns of the nDte and deed of trust in favDr Df
Lender above referred tD, and (ii) all agreements, including but nDt limited tD any loan or
escrow agreements, between Owner and Lender fDr the disbursement of the proceeds Df
Lende~s IDan;
(b) Lender in making disbursements pursuant tD any such agreement is under nD Dbligation
or duty to, nDr has Lender represented that it will, see tD the applicatiDn Df such proceeds
by the person Dr persDns tD whDm Lender disburses such proceeds and any applicatiDn
Dr use Df such prDceeds fDr purpDses Dther than thDse prDvided fDr in such agreement or
agreements shall not defeat the subordinatiDn herein made in whDle or in part;
(c) He intentionally and uncDnditionally waives, relinquishes and subordinates the lien Dr
charge of the deed of trust first abDve mentioned in favor Df the lien Dr charge upDn said
land of the deed of trust in favor Df Lender above referred to and understands that in
reliance upDn, and in consideration of, this waiver, relinquishment and subordinatiDn,
specific IDans and advances are being and will be made and, as part and parcel thereDf,
specific monetary and Dther obligatiDns are being and will be entered intD which wDuld
nDt be made Dr entered intD but fDr said reliance upon this waiver, relinquishment and
subDrdinatiDn; and
(d) An endorsement has been placed upon the nDte secured by the deed Df trust first abDve
mentiDned that said deed Df trust has by this instrument been subordinated tD the lien Dr
charge of the deed of trust in favDr Df Lender abDve referred tD.
ClTA SUBORDINATION "A"
(EXISTING DEED OF TRUST TO NEW DEED OF TRUST)
INITIALS:
4ft--
16794
APN: 256-330-56-19
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE
PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN, A PORTION
OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION
AGREEMENT, TH PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
B ne Iciary Owner
C ;.t:J of l nuw'tftl SIGNATURES MUST BE ACKNOWLEDGED)
before me, ~'CL. Fl.l3ln]ha.rY\ personally appeared
personally known 10 me
( ) to be the person(~ whose name(1l) is/ate'
subscribed to the within instrument and acknowledged to me that he/slle:lI ,ey executed the same in
his/ocr:II,(;il authorized capacity~, and that by hislhen4Reir signature(.t) on the instrument the
person(l!.), or the entity upon behalf of which the person(~ acted, executed the instrument.
w."'~ me"'"' '"' ?"~
Signature ~Ja:: -
. ClAIJOIAA. IIIGlIAM
~ =:~~
Ian DIego CcKny
MvCamm. __Oct".
STATE OF CALIFORNIA
COUNTY OF
ON
personally appeared
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 within 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 instrument.
before me,
Witness my hand and official seal.
Signature
CL TA SUBORDINATION "A"
(EXISTING DEED OF TRUST TO NEW DEED OF TRUST) IL/ r/
INITIALS: f--}lL--
~\
16795
Lender Service - PLD
Fidelity National Financial
RECORDING REQUESTED BY:
LS1 Title Company, a California Corporation
Escrow No.: 1755870
Title Order No.: 51755870
gl1en ~eCOrded Mail Document To:
'*~f t<; i1oi; 0 ~F"e..
ItyO cuutas
505 S. Vulcan Avenue
Encinitas, CA 92024-3633
APN.: 256-330-56-19
SPACE ABOVE THIS LINE FOR RECORDER'S USE
SUBORDINATION AGREEMENT
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 November 22, 2005, by Catherine Theresa Shebi owner of the land
hereinafter described and hereinafter referred to as "Owne~', and City of Encinitas present owner and
holder of the deed of trust and note first hereinafter described and hereinafter referred to as
"Beneficiary";
WITNESSETH
THAT WHEREAS, Catherine Theresa Shebl, a single woman, did execute a deed of trust, dated May 3,
1 999, to , covering
SEE EXHIBIT A ATTACHED HERETO AND MADE A PART HEREOF
to secure a note in the sum of $15,650.00, dated May 3, 1999, in favor of City of Encinitas , which deed
of trust was recorded as instrument no. 1999-0329085, on May 14, 1999, in book, page, Official
Records of said county; and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of
$150,000.00, dated, in favor of Credit SuisslFirst Boston, hereinafter referred to as "LendM', payable
with interest and upon the terms and conditions described therein, which deed of trust is to be recorded
concurrently herewith; and
WHEREAS, it is a condition precedent to obtaining said loan that said deed of trust last above
mentioned shall unconditionally be and remain at all times a lien or charge upon the iand hereinbefore
described, prior and superior to the lien or charge of the deed of trust first above mentioned; and
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, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and
Beneficiary is willing that the deed of trust securing the same shall, when recorded, constitute a lien or
CLTA SUBORDINATION"N
(EXISTING OEED OF TRUST TO NEW DEED OF TRUST) / .1 j
INITIALS: ~___
APN: 256-330-56-19
16796
charge upon said land which is unconditionally prior and superior to the lien or charge of the deed of
trust first 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 Lender to make the loan above referred to, it is hereby declared, understood and
agreed as follows:
(1) That said deed of trust securing said note in favor of Lender, and any 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 or charge of the deed of trust
above mentioned.
(2) That Lender would not make its loan above described wtthout 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 first above mentioned to the lien
or charge of the deed of trust in favor of lender above referred to and shall supersede
and cancel, but only insofar as would affect the priority between the deeds of trust
hereinbefore specifically described, any prior agreement as to such subordination
including, but not limited, those provisions, if any, contained in the deed of trust first
above mentioned, which provide for the subordination of the lien or charge thereof to
another deed or deeds of trust or to another mortgage or mortgages.
Beneficiary declares, agrees and acknowledges that
(a) He consents to and approves (i) all provisions of the note and deed of trust in favor of
Lender above referred to, and (ii) all agreements, including but not limited to any loan or
escrow agreements, between Owner and Lender for the disbursement of the proceeds of
Lende~s loan;
(b) Lender in making disbursements pursuant to any such agreement is under 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, relinquishes and subordinates the lien or
charge of 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,
specific loans and advances are being and will be made and, as part and parcel thereof,
specific monetary and other obligations are being and will be entered into which would
not be made or entered into but for said reliance upon this waiver, relinquishment and
subordination; and
(d) An endorsement has been placed upon the note secured by the deed of trust first above
mentioned that said deed of trust has by this instrument been subordinated to the lien or
charge of the deed of trust in favor of Lender above referred to.
CLTA SUBORDINATION "A"
(EXISTING DEED OF TRUST TO NEW DEED OF TRUST)
/""";/'
INITIALS: L.L----
APN: 256-330-56-19
16797
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE
PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN, A PORTION
OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
IT IS RECOMMENDED THAT. PRIOR TO THE EXECUTION OF THIS SUBORDINATION
AGREEMENT, TH PARTIES CONSULT WITH THEIR ATTORN,EjYS WITH RES!:,ECT THERETO. ^
C a /U'IM1...l .J fJ,\L~1 f Nkf
,
Owner
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
STATE OF CALIfORNIA,
COU TY OF ~ IdlfjO Ill.. . J. "[J' h
ON .:too5 before me, UP.J.JJ.A-,'().. n. In~ M1 personally appeared
,. personally known to me
( ) to be the person(,g whose name(l!) IslaI'e'
subscribed to the within instrument and acknowledged to me that he/shelthey executed the same in
hislher/their authorized capacity~, and that by hislherAAeir signature(.t) on the instrument the
person(llo), or the entity upon behalf of which the person(Sl) acted, executed the instrument.
Witness mfrand and ~ffi~.M
Slgnaturellu.xixc~ -
. ClAUDlAAItlGHAM
_ CommlIIIoo. t# 1~
NaIary NlIc "C4lIbna
Ian DIego CounI\I
Mrc:omm. ....Octl..
STATE OF CALIFORNIA
COUNTY OF
ON
personally appeared
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 within instrument and acknowledged to me that he/she/they executed the same in
hislher/their authorized capacity(ies), and that by hislher/their signature(s) on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
before me,
Witness my hand and official seal.
Signature
CLTA SUBORDINATION "A"
(EXISTING DEED OF TRUST TO NEW DEED OF TRUST) ,'< i
INITIALS: ~___
1
,
,
16798
CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT
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~ Description of Attached Document ~
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If) 1999 National Notary AssOCiation' 9350 De SotoAve" P.O, Bo. 2402. Chatsworth. CA 91313-2402' www,nalionalnolary,org
Prod. No. 5907
Reorder: Call Toll-Free HIOO-876-6827