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Home My WebLink AboutD-1955 APN: 053-198-043 Recorded 09/10/2013• Recnrrding Requested By:: Requested Bar: p OAST TITLE W N , D ✓RED IJRN TO:. City ofSan.Luis Obispo; 996 palm Street San Luis ob spo,,.CA 93401.. Attu;; city.Cleik. JULIE RODEWAL9 San Luis Obispo county- clerklRecorder Recorded at the request of Public HOC #: 2013052253 Record for.thebenefit >of the City of San Luis:0bisPo At No Fee i rider Sed.ion;27383 of the. GeveTnmezit Code. he ;undersigned declare that there 'is no Adcurnentary Transfer tax ,on this matter: APN 053= 1:98-043 NOTI.C.E,-.1. ASK 9110!2013 8:51 AM Titles: 1 Pages: Fees 32.00 Taxes 0.00 Others; 7.00 PAID $39.00 1N$T"MENT.,: THIS. AGREEMENT, made ,.2013, byDouglas R_Williams Owner :ofthe land hereinafter described and hereinafter referred to as "Owner,". and City of San Lui9..0bispo, present;owner and holder ofthe deed _of trust and, note: first hereinafter described and hereinafter`refbrred to as `Beneficiary "; WITNES3ETH THAT WHEREAS,.Douglas R Williams, did execute a. deed Of butt, dated .February l; 2000; to Villa Rose IL-C" a California Corporation, as # rstee, covering property located at 811 Lawrence Drive, as snore artict,larly described in Ex146it One; 'SEE EXHIBIT ONE - ATTACHED�HERETO.AND -MADE-A PART HEREOF: To secure a; note in: the.surn,of$o�9007, deed. of trust -was. recorded February 10j 2000, in favor of dty.of San Lab,O3 iapo,,Vc Bich deed.oftrust. was :recorded." mstcumentNo.2000,007294 of. Official Records: of said: county; and W14EREAS, Owner has executed; or is: About to execute -a deed of::trusVand note not to exceed. the : sum of S0"$U dated � -/6 /., _m favor of MERS Inc., as a nominee: for. Quicken. Loans Inc. hereiinaffer referred to a's "Lender,' payable wsth interest and upon the. terms :and conditions: described therem,.whtch deed oftust is to be recorded eetly "heirewith; and iN,5 7-140 -.70 e eP36 x. 5-47 WHEREASy'it is a-_ condition..precedenY to obtaining said loan that - sal d :'deed: -of trust: last above menticsaed 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_ mentionec and Page 1.of-4 INITIALS. WHEREAS, tender is twilling to make saidjoan provided the deed of trust :securing the same is a lien or eharge::upon the_aliove described: property prior: and- :superiorto the lien or charge ofAhe deed 6e .trust first above mentioned :and provided .that Beneficiary will' specifically and unconditionally suliordinate the lien or charge =of the deed of trust. first above mentioned to: the lien:or;charge:ofthe;deed of :trttst•n favosof:Lender; and WHEREAS, it. i5 fo the muttial.lienefit of the parties Hereto that Lender make such;loan to ;Owner an ry d.Benpo is, willing that the deed of irust cu senng =the same shall,; when re corded, constitute alien -ar charge upon saicrland which is uncand tionally;prior and.superior to the lien or charge;of the deed of ti first':ab'ove�nientioned: 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 inakke ttie lban :above referred :to, it is heretiy declared, unde*od;and. agreed as,follows: L That said. deed of Irust securing;said note :in favor- of Lender;'and::any:renewals or extensions thereof, shall unconditionally be. and retrain at all tunes a licri or cliarge on the property thereof described, prior and.:superiar to: the lien or charge .of the :deed of trust: above mentioned. 2 That Lender would not rnaice its laan;above. descrnlied without this sub ordynation:agreement.. 3 That this-agreement shall be the:whole- and.only;agreement xvith- regard`to the:subordination of'the lien -or charge..of:the deed of:trust'above nieritioned to the:lien charge ofthe deed`of' trust " i P ay.9r of `#he lender above;ref p;o to, and shall;supersede and cancel, but Only insofar as would affect.;the priority between the deeds of trust hereirbefore specifically described; any prior` agreement..as'to such subordination including; but =not limited, those provisions; if any; contained ui: =the deed of tryst first abovementioned, V Ch.p ovide for the subordination of: rile lien 'o r:: :charge thereof to another deed or ,deeds: of trust;..or d another mortgage 4 r. mortgages.. I3enefrciary declares, agrees and ac) tnowledges tlat a. It:- consents Ito; and approves {i : all provisions of'tlie note and deed _ of trust in favor:- of Lender above referred to and (u) -all agreements, including but not limited to any loan or escrow agreements,:; between Owner and Lender for the disbursement of tfie..prooeeds o f Len&XIs•.loan; b: Lender iri st along :d sbursCments pursuant to any such agreement, is under no obligation ,or duty. to„ nor has;Lender.represented-4hat rt will, see o-the,application of suoh- proceeds but fihe;person.orpersons;to whom Lender disburses lsu& proceeds 'and any:appl cation:or use of Stich proceeds_ for purposes other titan those provided for in stick -agreemer"rt: or agreernents-,shall not:defeat the subordination herein made in wbole:or in part;: c. It- intentionally; and uncOnditionalIy waives ;. Teliniluishes .and subordinates the Iien 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 a lender :Above - Tferred :to an d`.tuidersfancls that' in relarxce upon,. and in :consideration of;; this: waiver, .relinqus}iment and subordination; spegfi,c loans and advances are being afid will �be made aid . -as part and parcel ;thereof specif c monetary,and other cil ligat ;ors are .being and will bie entered. into which would gage 2:;of 4 INIT.IP►LSV nqt 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. 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. City of San Luis Obispo, Beneficiary: Douglas R. Williams Page 3 of 4 (ALL SIGNATURES MUST BE ACKNOWLEDGED) INITIALS LW not be made or: entered .into :but lbr. said :reliance upon this waiver ..relinquishment and s4boidinati* and .d. An endorsenmithas:been placed upon -tbe. note secured bythe deed bf:thj,,t-t firs-ti above. mentidh&th-atll.saidl..d ddf trust has Tu'- A� 'b . y: s- nAithijeht been. subordinated :tb t :or charge of the raced oftruA in favor of Lender above referred to.. NOTICE* THIS SUBORDINATION AGREEMENT CONTAINS A FROVMON ALLOWS THE PERSON OBLIGATED ON -Y YOUR REAL PROPERTY 6k.Aji4.:A' LOAN A. PORTION .Of 'WHICH m AY . tXPENDEDY 6kbtHERTU iftAA WPROVEME W-bFi: f� :l LAND. IT I& RECOMMENDED THAT PRIOR TO THE EXECUTION OF JUIS SUBORDINATION;: STATE OF CALIFORNIA } ) ss COUNTY OF SAN LUIS OBISPO ) On August 27, 2013, before me Sheryll Schroeder, Interim_Cily Clerk , personally appeared Katie Lichtig, City Manager of the City of San Luis Obispo, 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 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 this 27th day of August, 2013. Sher 6vilCode17) ity Clerk, City of San Luis Obispo 81 State of California I > CALIFORNIA ALL - PURPOSE County of_�411_lels e�TK1. O ) CERTIFICATE OF ACKNOWLEDGMENT On personally appeared before me, (here insert name and title of the officer) who proved to me on the basis of satisfactory evidence to be the persori(X whose namepA is /K6 subscribed to the within instrument and acknowledged to me that he /4N /thVX executed the same in his /b&tNeir authorized capacity(W1 ), and that by his/W/t6il signature(sr,_on the instrument the person N, , or the entity upon behalf of which the person14 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 nd and official seal. Signature Y4Z'11� ' Z OPTIONAL INFORMATION ROGER 0. MILLER COMM. #2001528 z. Notary Public • California z c San Luis Obispo County M Comm. ves Dec. 20, 2016 (Seal) Although the information in this section is nor required bylaw, it could prevent fraudulent removal and reattachment of this acknowledgment to an unauthorized document and may prove useful to persons relying on the attached document. Description of Attached Document The preceding Certificate of Acknowledgmer t is attached to a document tle /for the purpose of Jea containing pages, and dated The sign -s) capacity or authority is /are as: ndividual(s) ❑ Attorney -in -Fact ❑ Corporate Officer(s) ❑ Guardian /Conservator ❑ Partner - Limited /General ❑ Trustee(s) ❑ Other: representing: e -/ d /—,? Tide(s) Name(s) of Person(s) or Entity(es) Signer is Representing Method of Signer Identification Proved t e on the basis of satisfactory evidence: forms) of identification O credible witness(es) Notarial event is detailed in notary jo�al on: Page # En /try # Notary contact: C� C� le j�� Other ❑ Additional Signer(s) igner(s)Thumbprint(s) 0 Copyright 2007 -2012 Notary Rotary, Inc. PO Box 41400, Des Moines, IA 50311 -0507. All Rights Reserved, Part Number 101772. Please contact your Authorized Reseller to purchase copies of this form. EXHIBIT "ONE" LEGAL DESCRIPTION Real property in the City of SAN LUIS OBISPO, County of SAN LUIS OBISPO, State of California, described as, follows: Lot 74 of Tract No. 2066, in the City of San Luis Obispo, in the County of San Luis Obispo, State of California, according to map recorded May 12, 1992 in book 16, page 71 of maps and amended December 31, 1992 in book 16, page 85 of maps, in the office of the county recorder of said county. Except therefrom all oil, gas, mineral and other hydrocarbons, as reserved in instrument APN: 053 -198 -043 Page 4 of 4 INITIALS END OF DOCUMENT