2012-340839 LL D O C # 2012-0340839
IIIIIIIIIIIIIII 111111111111111111111111111111111111111111111111111111111 IN
RECORDING REQUESTED BY:
Chicago Title Company v JUN 12, 2012 8:00 AM
Order No.: 73712002386
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
When Recorded Mail Document To: Ernest J. Dronenburg,Jr.,COUNTY RECORDER
City of Encinitas FEES: 27.00
505 S.Vulcan Avenue 6206
PAGES: 1
Encinitas CA 92024
Attn: Housing Administrator I(IIIII VIII VIII VIII VIII VIII IIIII IIIII IIIII VIII IIIII IIIII IIIII IIIII 11111 1111 IIII
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 June 1,2012, by Norma P. Flores
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"; .
WITNESSETH
THAT WHEREAS, Norma Flores, did execute a deed of trust, dated November 13, 1998, to Chicago Title Company, as
trustee, covering:
PARCEL A:
AN UNDIVIDED 1/18TH FEE SIMPLE INTEREST AS A TENANT IN COMMON IN AND TO THE PORTION
OF THE COMMON AREA OF MODULE D OF LOT 5 OF CITY OF ENCINITAS TRACT NO. 96-170, IN
THE CITY OF ENCINITAS, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP
THEREOF NO. 13481, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY,
OCTOBER 9, 1997,AS SHOWN ON THE CONDOMINIUM PLAN FOR SAXONY, PHASE 3, RECORDED
IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON MARCH 17, 1998 AS FILE
NO. 1998-0142314 ("CONDOMINIUM PLAN").
PARCEL B:
RESIDENTIAL UNIT NO. 22 AS SHOWN AND DEFINED ON THE CONDOMINIUM PLAN.
RESERVING THEREFROM NON-EXCLUSIVE EASEMENTS FOR MAINTENANCE, ENCROACHMENT,
SUPPORT, REPAIR, DRAINAGE AND ALL OTHER PURPOSES AS DESCRIBED IN THE DECLARATION.
PARCEL C:
A NON-EXCLUSIVE EASEMENT, IN COMMON WITH OTHER OWNERS, FOR INGRESS AND EGRESS,
USE AND ENJOYMENT, OVER, IN, TO, AND THROUGHOUT THE ASSOCIATION PROPERTY SHOWN
ON THE CONDOMINIUM PLAN REFERRED TO IN PARCEL"A"ABOVE AND OVER, IN, TO AND
THROUGHOUT, OTHER PHASES OF THE PROPERTY DESCRIBED IN THE DECARATION WHICH
EASEMENT IS APPURTENANT TO THE RESIDENTIAL UNIT DESCRIBED ABOVE. THIS EASEMENT
SHALL BECOME EFFECTIVE AS TO EACH OF SAID PHASES, RESPECTIVELY, UPON
(1)RECORDATION OF A DECLARATION OF ANNEXATION, DECLARING SUCH PHASES,
RESPECTIVELY,TO BE SUBJECT TO THE DECLARATION, AND
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6207
SUBORDINATION AGREEMENT
(continued)
(11) CONVEYANCE OF THE FIRST CONDOMINIUM IN EACH RESPECTIVE PHASE, ALL AS MORE
FULLY SET FORTH IN THE DECLARATION. THE ASSOCIATION PROPERTY REFERRED TO HEREIN
AS TO EACH OF SUCH PHASES SHALL BE AS SHOWN AND DESCRIBED ON THE CONDOMINIUM
PLAN COVERING EACH SUCH PHASE RECORDED IN THE OFFICE OF THE COUNTY RECORDER OF
SAN DIEGO COUNTY, CALIFORNIA, EXCEPTING THEREFROM THE COMMON AREA AND
RESIDENTIAL UNITS THEREON.
PARCEL D:
AN EXCLUSIVE EASEMENT OVER THE PORTION OF THE ASSOCIATION PROPERTY (AS DEFINED
IN THE DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR SAXONY AT
ENCINITAS RANCH RECORDED IN THE OFFICE RECORDS OF THE COUNTY RECORDER OF SAN
DIEGO COUNTY, CALIFORNIA ON DECEMBER 2, 1997 AS INSTRUMENT NO. 1997-0608422, AND ANY
AMENDMENTS THERETO DESIGNATED IN THE CONDOMINIUM PLAN OR IN ANOTHER
CONDOMINIUM PLAN FOR ANOTHER PHASE OF THE SAXONY AT ENCINITAS RANCH PROJECT AS
AN EXCLUSIVE USE PARKING SPACE APPURTENANT TO THE RESIDENTIAL UNIT DESCRIBED IN
PARCEL"B" ABOVE.
to secure a note in the sum of twenty nine thousand eight hundred twenty eight dollars ($29,828.00), dated November
13, 1998, in favor of City of Encinitas, which deed of trust was recorded on November 19, 1998,'as instrument no.
1998-0751915, official records of said county. Said deed of trust erroneously identified an amount of twenty eight
thousand nine hundred twenty two dollars($28,022.00), and
WHEREAS, Owner has executed, or is about to execute, a deed of trust a d no e in the sum of,Seventy-Seven
Thousand Six Hundred And No/100 Dollars ($77,600.00) dated in favor of Mission Federal
Credit Union, 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 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 without this subordination agreement.
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6208
SUBORDINATION AGREEMENT
(continued)
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:
1. 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 Lender's loan;
2. 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;
3. 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
4. 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.
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, THE
PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
Dated: June 1, 2012
IN WITNESS WHEREOF, the undersigned have executed this document on the date(s)set forth below.
BENEFICIARY:City of Encinitas
VIA
S'FC �47iA(tr�
By: 1441 0T-41ctAt, C�IG-7F/C/aT�
ugTina
Its.
City Manager
Printed: 06 01.12 Q 08:17AM
Subordination Agreement A(Standard) CA-CT-FWDO-02180.055846-73712002386
SCA0000285.doc/Updated: 0227.12 Page 3 of 4
' SUBORDINATION AGREEMENT 6209
(continued)
OWNER(S)
Norma P. Flores
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
State of
County of �,Vl 'mil ��
On y l0 iu- U, ?A, -? _before me,v,✓1��(�Cv �� '��� �(a notary public in and for said state,
personally appeared 0 YN� P P1 D t-j-S
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(,s�).Cs ke subscribed to the
within instrument and acknowledged to me that he�they executed the same in his/ e their authorized capacity(ies),
and that by his/ er heir signature) on the instrument the person(Wor the entity upon behalf of which the persons)
acted, executed fhe instrument.
I certify under PENALTY OF PERJURY under the laws of the State of �l� e ck that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal. OAMy ENNIFER M.MJIRRINAN
comm. #1965051 m
ra Nobly Publo-Calf,, s
(Seal) W SAN DIEGO COUNTY
Signatur Com m.Exp.1/W 26,2016
State of
County of
On before me, a notary public in and for said state,
personally appeared '
who proved to me on the basis of satisfactory evidence to bet persons) whose name(s) is/are subscribed to the
within instrument and acknowledged to me that he/she/they a cuted the same in his/her/their authorized capacity(ies),
and that by his/her/their signaZcorrect. t th erson(s), or the entity upon behalf of which the person(s)
acted, executed the instrumen
I certify under PENALTY OF s of the State of that the
foregoing paragraph is true anWITNESS my hand and official)
Signature
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6216
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of California v
County of L1 g/J br E16 D
On-TUf) -2012 before me, G //,J A- )qN&65 C_�
lOfficer��
Date Here Insert Name and Title• the
personally appeared 6U es V t N,0_,
Name(s)of Signer(s)
who proved to me on the basis of satisfactory evidence to
be the person(s) whose name(&) is/are subscribed to the
within instrument and acknowledged to me that
he/sheA4-iey executed the same in his/he#414@ir authorized
GINA FRANCES 2ENNS capacity(ies), and that by his/heFAh it signature(s) on the
Cannds"•1878445 instrument the person(&), or the entity upon behalf of
Notary PubNs-CMNornia which the person(sj acted, executed the instrument.
San Dtiapo County
My Came. a Jan 29,2014 1 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
Place Notary Seal Above Signature of Notary lic
OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of Attached Document l
Title or Type of Document: 11A,6OP_PI.AJ 4-T fJ AaR cm�! (OLJO�1 ,OfMA
Document Date: JU/IP a .201a Number of Pages:&oLl
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name: 615 U'iti/AV _ Signer's Name:
❑ Individual ❑ Individual
❑ Corporate Officer—Title(s): ❑Corporate Officer—Title(s):
❑ Partner—❑ Limited ❑ General _ _ ❑ Partner—❑ Limited ❑ General _
❑ Attorney in Fact • ❑Attorney in Fact •
Top of thumb here Top of thumb here
❑ Trustee ❑Trustee
❑ Guardian or Conservator ❑ Guardian or Consery r
Other: �f 1-V iVA�A6� ❑Other:
S ner Is Representing: Signer Is presenting:
L4 7-v 0 NLtnJi7/
0 2007 National Notary Association•9350 De Soto Ave.,P.O.Box 2402•Chatsworth,CA 91313-2402•www.NabonaiNotaryorg Item#5907 Reorder:Call Toll-Free 1-500-876-6827