HomeMy WebLinkAboutD-1655 Lot 53 of the subdivisions of the Ranchos Canada de Los Osos and La Laguna - APN 067-091-011 Recorded 06/22/2005RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
City of San Luis Obispo
10190 Los Osos Valley Rd.
San Luis Obispo, CA 93405
APN: 067 - 091 -011
JULIE RODEWPO
San Luis Obispo Coun Clerk/Recorder
Recorded at the request of
Public
PAM
6/22/2005
4:59 PM
D O C #: 2005050867 Titles: 1 Pages: 3
Fees 0.00
Taxes 0.00
Others 0.00
PAID $0.00
SPACE ABOVE THIS 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 AN OPEN SPACE AND AGRICULTURAL
CONSERVATION EASEMENT AGREEMENT.
THIS SUBORDINATION AGREEMENT, is made this 20 day of June, 2005, by and
between CONGREGATION BETH DAVID OF SAN LUIS OBISPO, a Non - Profit Corporation,
present owner of the land hereinafter described (hereinafter referred to as "Owner "), and
MISSION COMMUNITY BANK, N.A. (hereinafter referred to as `Beneficiary) ".
WITNESSETH
WHEREAS, Owner owns certain real property located on Los Osos Valley Road in the
unincorporated area of San Luis Obispo County, State of California, and legally described in
Exhibit "A" attached hereto and incorporated herein by this reference (hereinafter referred to as
the "Property "); and
WHEREAS, Owner has executed and recorded two (2) separate Deeds of Trust, each dated
November 9, 2001 (hereinafter referred to as the "Deeds of Trust ") and identified as San Luis
Obispo County Document Numbers 2001094394 and 2001094395, respectively, encumbering
the Property in favor of Beneficiary; and
WHEREAS, Owner and Beneficiary desire that said Deeds of Trust be subordinated in favor of
an Open Space and Agricultural Conservation Easement Agreement between Owner and the City
of San Luis Obispo affecting a portion of the Property (hereinafter described as the
"Conservation Easement Agreement "), which shall be later recorded.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and
for other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it
is hereby declared, understood, and agreed that said Deeds of Trust shall unconditionally be and
remain at all times subordinated to the Conservation Easement Agreement.
._� I Lv!SS
IN WITNESS WHEREOF, this Subordination Agreement shall be deemed made as of
the date first set forth above.
OWNERS:
Congregation Beth David of San Luis Obispo
By:
ROBERT TURBOW, PRESIDENT
STATE OF CALIFORNIA )
ss.
COUNTY OF SAN LUIS OBISPO 1
BENEFICIARY:
Mission Community Bank, N.A.
i
By
On c )h 2 ; 2005, before me,
C A hl��•, �.. lo���, personally act eare
r✓�all } ��n + �.Cc.
- jc)►-N r, ice! r SUn —� (6r-proved-to to Inf.-c the- ba&is..ol
satis€aotory evidence) to be the person whose name is subscribed to the within instrument
and acknowledged to me that he executed the same in his authorized capacity, and that by
his signature on the instrument, the person or the entity upon behalf of which the person
acted executed the instrument.
WITNESS my hand and official seal
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN LUIS OBISPO )
cmum R CORELL
CNIMO n # IN5767
�Y A�tiAc - Carbnro
:an U& Obhpo C:anly -
MaCbm0.80ft►!b ta,
On Jca� F D- o t , 2005, before me,
C r- r-r, a _ COiek personally appeared ROBERT TURBOW, personally
l%Qvm t(PMe`(,pr proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity, and that by his signature on the instrument,
the person or the entity upon behalf of which the person acted executed the instrument.
WITNESS my hand and official seal
CATNUFN R. CORELL
a I Commialon # - 1 S4b767
Signature 't /t1J,v �-�-� �Y � ' C°ffORi°
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Real property in the unincorporated area of the County of San Luis Obispo, State of California,
described as follows:
LOT 53 OF THE SUBDIVISIONS OF THE RANCHOS CANADA DE LOS OSOS AND LA
LAGUNA IN THE COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA AS DESIGNATED
ON THE MAP ENTITLED, "MAP OF THE SUBDIVISIONS OF THE RANCHOS CANADA DE
LOS OSOS AND LA LAGUNA", FILED FOR RECORD ON OCTOBER 8TH, 1869, IN BOOK "A ",
AT PAGE 83 OF MAPS IN THE OFFICE OF THE RECORDER FOR SAID COUNTY;
EXCEPTING THEREFROM THE SOUTHEASTERLY 273.73 FEET OF SAID LOT 53 AS
MEASURED AT RIGHT ANGLES FROM THE SOUTHEASTERLY BOUNDARY OF SAID LOT;
ALSO EXCEPTING THAT PORTION OF SAID LOT 53 CONVEYED TO THE COUNTY OF SAN
LUIS OBISPO BY RESOLUTION OF THE BOARD OF SUPERVISORS, RECORDED APRIL
24TH, 1950 AS FILED IN BOOK 561, AT PAGE 573 OF OFFICIAL RECORDS IN THE OFFICE
OF THE RECORDER FOR SAID COUNTY;
ALSO EXCEPTING THAT PORTION OF SAID LOT 53 CONVEYED TO THE COUNTY OF SAN
LUIS OBISPO BY RESOLUTION NO. 70 -508 OF THE BOARD OF SUPERVISORS,
RECORDED SEPTEMBER 18TH, 1970 AS FILED IN BOOK 1584, AT PAGE 254 OF OFFICIAL
RECORDS IN THE OFFICE OF THE RECORDER FOR SAID COUNTY;
ALSO EXCEPTING THAT PORTION OF SAID LOT 53 CONVEYED TO THE COUNTY OF SAN
LUIS OBISPO BY RESOLUTION NO. 88 -257 OF THE BOARD OF SUPERVISORS,
RECORDED JUNE 16TH, 1988 AS FLIED IN BOOK 3158, AT PAGE 384 OF OFFICIAL
RECORDS IN THE OFFICE OF THE RECORDER FOR SAID COUNTY.
APN: 067 - 091 -011