HomeMy WebLinkAboutD-1956 APN: 053-066-005 Recorded 09/24/2013r1
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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.
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 above mentioned to the lien or charge of the deed of
trust in favor of the 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. It 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;
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
but 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. It .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
Page 2 of 5
INMALS' L
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.
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:
Owners:
Marissa R. Perona
Nathan Ryan
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
Page 3 of 5 INITIALS
j � •
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.
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:
Owners:
M . Peron
Nathan Rydn
Page 3 of 5
(.ELI; SIGNATURES MUST BE ACKNOWLEDGED)
INITIALS 'v
STATE OF CALIFORNIA }
} ss
COUNTY OF SAN LUIS OBISPO }
On June 26, 2013, before me Maeve Kennedy Grimes, City Clerk, personally appeared Katie
Lichtig, City Manager, City Of San Luis Obispo, who 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 she executed the same in.her authorized capacity, and that by her signature on the
instrument, the person, or the entity upon behalf of which the person 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 26th day of June, 2013.
Signature
Maeve Ken e y Grimes
City Clerk, ity of San Luis Obispo
Per Civil Code 1181
s
'14V U
• W
Notary Acknowledgement
State of
County of Sk, L,,P�S ! ;
On NuA,,9c zk, InU� before me,
personally appeared tAa<-k55 alyw,,
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.
Witness my hand and official seal.
Signature and Stam
ANNA MAFORT -LACY
COMM. #1984790
ME NOTARY MBUC • CAUL
SAN LUIS OBISPO COUNTY
Comm. &P. JULY 12120'16
CALIFORNIA ALL- PURPOSE
CERTIFICATE OF ACKNOWLEDGMENT
State of California
County of S av-\ L\,A S t tSQ
On f1\ jig9 a.li So%''before me, n�t,�.. t�A: oek- - `.o h orm Z CL, C..
,
(Here insert name an&TMe of the officer)
personally appeared
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.
ANNA MAFORT -LACY
WITNESS my hand and official seal. COMM, #1984790 ;
NOTARY weua • CAUFORNIA
SAN LUIS OBISPO COUNTY
(No Eel o mm. EXp. JULY 12; 2016
Signature of Notary Public
ADDITIONAL OPTIONAL INFORMATION
DESCRIPTION OF THE ATTACHED DOCUMENT
(Title or description of attachea-locument)
(Title or description of attached document continued)
Number of Pages . Document Date
(Additional information)
CAPACITY CLAIMED BY THE SIGNER
❑
Individual (s)
❑
Corporate Officer
(Title)
❑
Partner(s)
❑
Attorney -in -Fact
❑
Trustee(s)
❑
Other
2008 Version CAPA v12.10.07 800 - 873 -9865 www.NotaryClasses.com
INSTRUCTIONS FOR COMPLETING THIS FORM
Any acknowledgment completed in California must contain verbiage exactly as
appears above in the notary section or a separate acknowledgment form must be
properly completed and attached to that document. The only exception is if a
document is to be recorded outside of California. In such instances, any alternative
acknowledgment verbiage as may be printed on such a document so long as the
verbiage does not require the notary to do something that is illegal for a notary in
California (i.e. certifj4ng the authorized capacity of the signer). Please check the
document carefully for proper notarial wording and attach thisform if required.
• State and County information must be the State and County where the document
signer(s) personally appeared before the notary public for acknowledgment.
• Date of notarization must be the date that the signer(s) personally appeared which
must also be the same date the acknowledgment is completed.
• The notary public must print his or her name as it appears within his or her
commission followed by a comma and then your title (notary public).
• Print the name(s) of document signer(s) who personally appear at the time of
notarization.
• Indicate the correct singular or plural forms by crossing off incorrect forms (i.e.
he /she/t#me)- is /ere ) or circling the correct forms. Failure to correctly indicate this
information may lead to rejection of document recording.
• The notary seal impression must be clear and photographically reproducible.
Impression must not cover text or lines. If seal impression smudges, re -seal if a
sufficient area permits; otherwise complete a different acknowledgment form.
• Signature of the notary public must match the signature on file with the office of
the county clerk.
Additional information is not required but could help to ensure this
acknowledgment is not misused or attached to a different document.
Indicate title or type of attached document, number of pages and date.
Indicate the capacity claimed by the signer. If the claimed capacity is a
corporate officer, indicate the title (i.e. CEO, CFO, Secretary).
• Securely attach this document to the signed document
• Order No. 150- 1498333 -07
Eihilbii "A"
Parcel 1:
Unit 1303, delineated and described on that certain Phase 1 Condominium Plan for laurel Creek (the "Condominium Plan") recorded
November 26, 2008 as Instrument No. 2008058967 and amended recorded April 10, 2009, as Instrument No. 2009017706 and August
25, 2009, as Instrument No. 2009047694 in the Official Records of San Luis Obispo County, California, which Condominium Plan
covers and affects portion of Lots Sand 7 of Tract No. 2707, in the City of San Luis Obispo, County of San Luis Obispo,. State of
California, according to map recorded December 7, 2007 in Book 31, Pages 1 through 3, inclusive, of Maps, in the office of the
County Reorder of said County.
Excepting and Reserving Therefrom non - exclusive easements over, upon, under and through said Unit for the benefit of the
Association and others as more particularly described in the CC &Rs (defined below).
Parcel 2:
An undivided one - thirteenth (1/13) fee simple interest as a tenant in common in and to the Phase Common
Airspace of the Phase 1 Module as those terms are defined, described and delineated on the Condominium
Excepting and Reserving Therefrom non - exclusive easements over, upon, under and through said Phase
Common Airspace for the benefit of the Association and others as more particularly described in the CC &Rs (defined below)
Parcel 3:
Nonexclusive easements for the uses and purposes set forth In the CC &Rs (defined below) upon, over, under and through the
Association property and the other Units in the project from time to time (as those terms are defined In the CC &Rs) as such easement
are described and reserved for the benefit of Grantee and others in the CC &Rs (defined below).
Parcel 4:
An exclusive use easement appurtenant to said Parcel 1 for the operation and maintenance of an air conditioner compressor and pad
therefore upon and over the Association Property together with a nonexclusive easement for utility connections for the same. The
exclusive use easement area consists of a concrete pad located outside of the building In the vicinity of said Parcel 1 and Is Identified
with signage placed on the same as being appurtenant to said Parcel 1:
Parcel 5:
An exclusive use easement appurtenant to said Parcel 1 for a deck upon and over that portion of the Association Property that is
situated out of the building and immediately adjacent to said Parcel 1, the same being more particularly defined, delineated, and
described on said Condominium Plan.
TEND OF DOCUMENT
Recording Requested By:
X33
Rem /3 �- y Y
ORANGE COAST TITLE
WHEN RECORDED RETURN TO:
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
Attn: City Clerk
JULIE RODEWA.
AG
San Luis Obispo county— clerk/Recorder
9/24/2013
Recorded at the request of
8:43 AM '
Public
u o C #: 2013054489
Titles: 1
Pages: 9
Fees
38.00
Taxes
0.00
Others
7.00
PAID
$45.00
Record for the benefit of the City of San Luis Obispo
At No Fee under Section 27383 of the Government Code.
The undersigned declare that there is no documentary
Transfer tax on this matter.
APN: 053- 066 -005
5�/ I /A16 j 1 pogo° 3 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 cZb , 2013, by Marissa R. Perona and Nathan Ryan
Owner of the land hereinaft# described and hereinafter referred to as "Owner," and
City of San Luis Obispo, present owner and holder of the deed of trust and note first hereinafter
described and hereinafter referred to as `Beneficiary";
WITNESSETH
THAT WHEREAS, Marissa R. Perona and 'Nathan Ryan, did execut� a deed of trust, dated
October 16, 2009, to JPMorgan Chase Bank, N.A., as trustee, covering property located at 862
Tarragon Lane, as more particularly described in Exhibit One; SEE EXHIBIT ONE ATTACHED
HERETO AND MADE A PART HEREOF
To secure a note in the sum of $65,000, a deed of trust was recorded October 23, 2009, in favor
of City of San Luis Obispo, which deed of trust was recorded as instrument No. 2009059454 of
_Official Records of said county; and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note not to exceed
the sum of $209,900 dated k jqj in favor of JPMorgan Chase Bank N.A., hereinafter
referred to as "Lender," payalAe with interest and upon the terms and conditions. described
therein, which deed of trust is to be recorded eeaeemvA1ykerewi*h; aK- 0r1%
1r1SfirU'�l1�- /U4. � 1 �- n�9e
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
Pagel of 5 INITIALS 1
. 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 lieii'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.
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 above mentioned to the lien or charge of the deed of
trust in favor of the 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. It 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;
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
but 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., It 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
Page 2 of 5
INITIAL