2019-616509 DOC# 2019-0616509
RECORDING REQUESTED BY: IIII 111111111111111111111111111111 HE 111111111111111111111111 IN
First American Title - Dec 31, 2019 02:34 PM
Homebuilder Services Division OFFICIAL RECORDS
Ernest J. Dronenburg,Jr.,
SAN DIEGO COUNTY RECORDER
AND WIEN RECORDED FEES: $50.00 (SB2 Atkins: $0.00)
MAIL TO: PAGES: 13
City of Encinitas
City Clerk's Office
505 S. Vulcan Avenue
Encinitas, CA 92024
l
Subordination Agreement
(Please fill in documenttitle(s)on this line)
1 m 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 ❑ 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 ❑ Exempt from fee per GC27388.1 due to the maximum fees being paid on documents in this
transaction,or,
4 ❑ 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 ❑ Exempt 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,
6 ❑ 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 owner-occupier.The recorded document transferring
the dwelling to the owner-occupier was recorded on (date*)as
document number(s)
7 ❑ 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,
municipalityor other political subdivision of the state,or,
8 ❑ Exempt from the fee per GC 27388.1(a)(1);Not related to real property,or,
9 ❑ Exempt from fee under GC27388.1 for the following reasons:
THIS PAGEADDEDTO PROVIDE SENATE BILL2DXEMPTIONINFORMATION
(Additional recordingfeeapplies)
Rev 5/18 *The Prior Recording Reference must have been recorded within the last 60 days and is subject to review
RECORDING REQUESTED BY:
First American Title -
Homebuilder Services Division
AND WHEN RECORDED
MAIL TO:
City of Encinitas
City Clerk's Office
505 S. Vulcan Avenue
Encinitas, CA 92024
Subordination Agreement
(Please fill in document title(s)on this line)
1 m 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 ❑ 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 ❑ Exempt from fee per GC27388.1 due to the maximum fees being paid on documents in this
transaction,or,
4 ❑ 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 ❑ Exempt 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,
6 ❑ 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 owner-occupier.The recorded document transferring
the dwelling to the owner-occupier was recorded on (date*)as
document number(s)
7 ❑ 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,
municipality or other political subdivision of the state,or,
8 ❑ Exempt from the fee per GC 27388.1(a)(1); Not related to real property,or,
9 ❑ Exempt from fee under GC27388.1 for the following reasons:
THIS PAG E A DD E D TO PROVIDE SENATE BILL2 EXEMPTION INFORMATION
(Additional recording fee applies)
Rev 5/18 *The Prior Recording Reference must have been recorded within the last 60 days and is subject to review
Recording Requested By:
First American Title Company
Homebuilder Services Division
NO FEE FOR RECORDING
PURSUANT TO GOV. CODE SECTION 27383
Recording Requested By:
City of Encinitas
Development Services Department
505 S. Vulcan Avenue
Encinitas, CA 92024
And When Recorded Mail To:
City of Encinitas
City Clerk's Office
505 S. Vulcan Avenue
Encinitas, CA 92024
APN: 256-123-06-00 (SPACE ABOVE LINE FOR RECORDER'S
USE ONLY)
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 SUBORDINATION AGREEMENT (this "Agreement') made this day
of Dtc , 20_�% by and among (i) the CITY OF ENCINITAS ("City'), (ii) ELIAHU
EILFORT AND CHAYA EILFORT, HUSBAND AND WIFE AS COMMUNITY
PROPERTY ("Borrower"), and (iii) BEMORTGAGE, DIVISION OF CROSSCOUNTRY
MORTGAGE, INC. ("Lender"). Hereafter, City, Borrower and Lender are sometimes
referred to as a "Party" and collectively as the "Parties".
RECITALS
A. Borrower is the owner of certain real property located in the City of
Encinitas, County of San Diego, State of California (the "Property'), as more
particularly described in Exhibit A attached hereto and incorporated herein by this
reference.
B. The rights of Borrower in the Property are subject to, among other
matters, that certain Deed of Trust, dated as of �.a��ap��, executed by Borrower
in favor of City, and recorded on ** in the official,records of San Diego
County, California (the "Official Records") as Instrument No. (the
**concurrently herewith
Pagel
"Affordability Deed of Trust"). The Affordability Deed of Trust secures, among other
obligations, the obligations of Borrower under that certain Promissory Note executed
in initial principal amount of One Million Fifty-Seven Thousand Fifty-
Three Dollars and Seven Cents ($1,057,053.07) (the "Note"), together with performance
of all terms, covenants and conditions to be performed by Borrower under a Second
Amended and Restated Affordable Housing Regulatory Agreement dated
and recorded ** in the Official Records as
ocument Number (as amended, the "Regulatory Agreement' and,
together with the Note, the "Other Affordability Documents").
**concurrently herewith
C. Lender intends to make a loan (the "Loan") to Borrower, which Loan will
be evidenced by a Promissory Note (the "Note") executed by Borrower in favor of
Lender, and secured by, among other things, (i) a Deed of Trust (the "Lender Deed of
Trust"), executed by Borrower in favor of Lender and recorded in the Official Records,
(ii) an Assignment of Rents (the "Lender Assignment of Rents"), executed by
Borrower in favor of Lender and recorded in the Official Records and (iii) a UCC
Financing Statement recorded in the Official Records (the "Lender Fixture Filing" and,
together with the Lender Deed of Trust and the Lender Assignment of Rents, the
"Lender Security Documents"). The Note, the Lender Security Documents, and any
and all other documents, agreements and instruments now or hereafter evidencing,
securing or delivered to Lender in connection with the Loan, are hereinafter referred to
as the "Loan Documents".
D. City, Borrower and Lender all agree and desire to execute this Agreement
to, among other things, (i) document City's consent to the making of the Loan to
Borrower by Lender and the encumbrance of the Property with the Lender Security
Documents and (ii) memorialize their understanding and agreement with regard to the
respective priorities of each of the above-referenced documents. It is the intention of
the parties that the Lender Security Documents shall unconditionally be and remain at
all times liens, claims or charges on the Property prior and superior to the Affordability
Deed of Trust.
NOW, THEREFORE, in consideration of the foregoing Recitals, which Recitals
are incorporated herein by this reference, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, and for the
mutual covenants contained herein, the Parties hereby agree as follows:
1. Agreement to Subordinate. Subject to the terms of this Agreement, City
and Borrower agree to unconditionally subject and subordinate the lien, claim and
charge of the Affordability Deed of Trust, and all present and future indebtedness and
obligations secured thereby, in favor of the liens, claims and charges upon the Property
of the Lender Security Documents. The Lender Security Documents will be and remain
at all times liens, claims or charges on the Property prior and superior to the
Affordability Deed of Trust, and to all rights and privileges of City and Borrower
thereunder. The Parties hereby acknowledge that this Agreement only subordinates the
Affordability Deed of Trust and does not subordinate the City's Regulatory Agreement.
Page 2
2. Consent to Loan. City hereby consents to the making of the Loan to
Borrower by Lender and to the encumbrance of the Property with the Lender Security
Documents. City hereby further consents to any transfer of the Property, or any interest
or rights therein, in connection with Lender's exercise of any of its rights and remedies
under the Loan Documents, including, without limitation, the sale of the Property
pursuant to a judicial or non-judicial foreclosure, the transfer of the Property by deed in
lieu thereof, the appointment of a receiver to operate and manage the Property, and the
appointment of a professional management company to operate and manage the
Property from and after the date upon which Lender or any affiliate of Lender, or any of
their respective successors and assigns as holders of the Note, acquires title to the
Property through foreclosure or deed in lieu thereof.
i
3. Notices. City and Borrower agree to give Lender copies of all notices of
default under the Affordability Deed of Trust and Other Affordability Documents. All
notices under this Agreement shall be in writing and shall be delivered to the
appropriate party at the address set forth below (subject to change from time to time by
written notice to all other parties to this Agreement). All notices, demands or other
communications shall be considered as properly given upon receipt or rejection.
Notices shall be delivered personally, by certified mail United States Postal Service
mail, postage prepaid return receipt requested, or by Overnight Express Mail or by
overnight commercial courier service, charges prepaid with proof of delivery. For
purposes of notice, the address off the Parties shall be as follows:
If to Borrower: asJ LA -k cha k 6%A lc-�
t!i 104
a�
Attention: JI a K.# '
If to Lender: o "
L K 0
Attention: it
If to City: City of Encinitas
505 S. Vulcan Avenue
Encinitas, California 92024
Attention: Development Services Director
3. Entire Agreement. This Agreement shall be the entire agreement with
regard to the priority of the liens, claims and charges of the Lender Security Documents
and the Affordability Deed of Trust and shall supersede and cancel any prior
agreements as to such priority.
4. Governing Law. This Agreement will be governed by, and construed and
enforced in accordance with, the laws of the State of California.
Page 3
5. Binding Effect. This Agreement shall inure to the benefit of, and shall be
binding upon, the Parties hereto and their respective heirs, legal representative,
successors, and assigns.
6. Counterparts. This Agreement may be signed in multiple counterparts
with the same effect as if all signatories had executed the same instrument.
[signatures to follow]
Page 4
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first set forth above.
"CITY"
CITY OF ENCINITAS
r
By:
Name: Mork-
Its:
i
Signature Page I of 3 to Subordination Agreement
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 00 I F n l q )SS
COUNTY OF 60i l PCelo )
On P�Cnnl-X4- �-7.?1 Ell before me, Notary
Public, personally appeared 1v-)
who proved to me on the basis of satisfactory evidence to be the person
whose name,W is/afe subscribed to the within instrument and acknowledged to me that he/ they executed
the same in his/ha4th&authorized capacity(les), and that by his/herftiieir signatureWon the instrument the
persorl(<or the entity upon behalf of which the personCs�racted, 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,
LORI C.CARPENTER
Notary Public-California Z
c,a San Diego County >
Signature Commission s 2212086
My Comm.Expires Sep 21,2021
Thls area for official notarial seal
i
Mail Tax Statements To: SAME AS ABOVE or Address Shown Below
"BORROWER"
Z olk
Eliahu Eilfort
Chaya Eilfort
Signature Page 2 of 3 to Subordination Agreement
1
. I
i
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
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 )SS
COUNTY OF ,�
On �q.w 19 before me, l ki ja 14_e, ,5p 16 r� , Notary Public, personally appeared
F-1(4 E; fora_ and Chu V- Ei h�'V4-
who 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.
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.
DENELDA LEE SPIRITO
Signaturej� �� 5 _ COMM. 2279897 Q
NOTARVPUBUC•CAUFORNUI 0
SAN DIEGO COUNTY
Comm.Exp. APRIL 4,2023
This area for official notarial seal.
OPTIONAL SECTION - NOT PART OF NOTARY ACKNOWLEDGEMENT
CAPACITY CLAIMED BY SIGNER
Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the
documents.
❑ INDIVIDUAL
0 CORPORATE OFFICERS) TITLE(S)
F-1 PARTNER(S) F—] LIMITED ❑ GENERAL
❑ ATTORNEY-IN-FACT
❑ TRUSTEE(S)
❑ GUARDIAN/CONSERVATOR
❑ OTHER
SIGNER IS REPRESENTING:
Name of Person or Entity Name of Person or Entity
OPTIONAL SECTION - NOT PART OF NOTARY ACKNOWLEDGEMENT
Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form.
THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED BELOW
TITLE OR TYPE OF DOCUMENT:
NUMBER OF PAGES DATE OF DOCUMENT
SIGNER(S) OTHER THAN NAMED ABOVE
Reproduced by First American Title Company 11/2007
"LENDER"
Bc D C D\jKo,\ o� kdi�
By:
Name: I<ZVIAI LExy r�DE/�
Its: rV e G j?.1,r 9L MA/!,kf?s
Signature Page 3 of 3 to Subordination Agreement
A notary pubfic or other officer completing
this certificate verHiee 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 douxrnert.
SC
STATE OF •fin )
COUNTY OF
On .27 4-',,Dec,emti". 2014 , before me, Sosa� L -be 1 toad , a Notary
Public, personally appeared Ko-vi vi A 1z,c&gd cr , who 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.
PIQ0
I certify under PENALTY OF PERJURY under the laws of the State ofCaV rbMM'that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
r.:� ��.• SUSAN L. CLELLAND
Notary Public � *_ Notary Public, State of Ohio
My commission Expires 1,6-2623
.............d
Exhibit "A"
Legal Description
Real property in the City of Encinitas, County of San Diego, State of California, described as follows:
PARCEL 1:
LOT 6 OF CITY OF ENCINITAS TM 15-064, IN THE CITY OF ENCINITAS, COUNTY OF SAN DIEGO, STATE
OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 16267, FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY, MAY 2, 2018 ("MAP'S;
RESERVING THEREFROM, ALL EASEMENTS DESCRIBED IN THE DECLARATION OF COVENANTS,
CONDITIONS AND RESTRICTIONS AND ESTABLISHMENT OF EASEMENTS OF ALCOVE RECORDED IN
THE OFFICIAL RECORDS OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, CALIFORNIA ON
AUGUST 13, 2019 AS DOCUMENT NO. 2019-0340504, AND ANY AMENDMENT AND SUPPLEMENTS
THERETO (COLLECTIVELY, THE"DECLARATION',THE MAP AND ALL OTHER EASEMENTS OF RECORD
AS OF THE DATE HEREOF INCLUDING WITHOUT LIMITATION, A NON-EXCLUSIVE EASEMENT IN FAVOR
OF THE ASSOCIATION IN, TO, OVER, UNDER AND ACROSS THAT PORTION OF THE ABOVE
REFERENCED LOT DESIGNATED IN THE DECLARATION AS AN ASSOCIATION MAINTENANCE AREA, IF
ANY, FOR THE PURPOSE OF MAINTENANCE AND REPAIR, TOGETHER SUCH RIGHTS OF ACCESS
NECESSARY TO PERFORM SUCH MAINTENANCE AND REPAIR, AS MORE FULLY PROVIDED IN THE
DECLARATION.
PARCEL 2:
A NON-EXCLUSIVE TEMPORARY EASEMENT FOR PEDESTRIAN AND VEHICULAR ACCESS, INGRESS AND
EGRESS BY GRANTEE OVER, UPON AND ACROSS THAT PORTION OF LOT B OF THE MAP, AS
DESCRIBED IN THAT CERTAIN EASEMENT GRANT DEED RECORDED IN THE OFFICIAL RECORDS OF THE
COUNTY RECORDER OF SAN DIEGO COUNTY ON SEPTEMBER 4, 2019 AS DOCUMENT NO. 2019-
0379411, WHICH EASEMENT IS APPURTENANT TO THE LOT DESCRIBED IN PARCEL 1 ABOVE. THE
TEMPORARY EASEMENT SHALL AUTOMATICALLY TERMINATE AND BE OF NO FURTHER FORCE AND
EFFECT ON THE DATE A DEED IS RECORDED TRANSFERRING LOT 14 OF THE MAP TO THE
ASSOCIATION.
PARCEL 3:
A NON-EXCLUSIVE EASEMENT, IN COMMON WITH OTHER OWNERS, FOR ACCESS, INGRESS AND
EGRESS, IN,TO, OVER, UNDER AND ACROSS CERTAIN PORTIONS OF THE ASSOCIATION PROPERTY
DESCRIBED IN THE DECLARATION, WHICH EASEMENT IS APPURTENANT TO THE LOT DESCRIBED IN
PARCEL 1 ABOVE. THESE EASEMENTS ARE GRANTED SUBJECT TO:
A. THE EASEMENT AND OTHER RIGHTS RESERVED IN THE DECLARATION IN FAVOR OF GRANTOR FOR
MARKETING AND DEVELOPMENT, INCLUDING, WITHOUT LIMITATION, GRANTOR'S RIGHT TO
MAINTAIN MODEL HOMES IN THE LOTS OWNED BY GRANTOR, AS WELL AS THE RIGHT OF ACCESS,
INGRESS, AND EGRESS FOR VISITORS TO THE SALES OFFICE AND MODEL HOMES AND THE RIGHT TO
MAINTAIN SIGNS OR OTHER MARKETING MATERIALS WITHIN THE ASSOCIATION PROPERTY OF THE
COMMUNITY(DEFINED IN THE DECLARATION);
B. GRANTOR'S EASEMENT FOR INGRESS AND EGRESS, IN, ON, OVER, THROUGH AND ACROSS THE
ASSOCIATION PROPERTY TO PERMIT GRANTOR TO INSTALL IMPROVEMENTS THEREON; AND
C. GRANTOR'S RIGHT TO PREVENT ACCESS OVER PORTIONS OF ASSOCIATION PROPERTY BY PLACING
Exhibit A
A CONSTRUCTION FENCE OR OTHER BARRIER THEREON PRIOR TO COMPLETION OF CONSTRUCTION
OF ALL IMPROVEMENTS WITHIN THE COMMUNITY, PROVIDED THAT GRANTEE HAS AT LEAST ONE
ROUTE OF ACCESS BETWEEN THE LOT DESCRIBED IN PARCEL 1 ABOVE AND A PUBLIC STREET.
Commonly known as: 735 Adelaide Circle, Encinitas, CA 92024
APN #: 256-123-06-00
r
I
Exhibit A