HomeMy WebLinkAboutSubordination Agreement (3) : **Thp document was electronically submitted
• td Sari Luis Obispo County for recording'`* •
• 2020010193 •'
Tommy Gong•
Requested By SPL San Luis Obispo-County Clerk-Recorder
03/03/2020 08:40 AM ,•
Recorded at the request of: '
TSI ESCROW-CERRITOS
RECORDING REQUESTED BY AND Titles: 1 Pages:7 •
WHEN RECORDED MAIL TO: Fees:$114.00 •
Taxes: $0 00 '
CITY OF ARROYO GRANDE • Total: $1.14.00: .• ' .
300 E. BRANCH STREET •
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ARROYO GRANDE, CA 93420
ATTN: CITY CLERK . , •
6'7/4o2gS`...5 diS 32.06 SPACE ABOVE THIS LINE FOR RECORDER'S USE ONLY '
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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. • •
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THIS AGREEMENT, made this 28 day of January, 2020 by John L. Malinowski and
Jennifer Malinowski, owners of the land hereinafter described and hereinafter•referred to
as"Owner,"and the City of Arroyo Grande, present owner alld holdgl of the deed of trust • ,,,
first hereinafter described and hereinafter referred to as "Beneficiary"; • • ' .
WITNESSETH •. .' • . -
WHEREAS, Owner executed a Deed of Trust and Security Agreement, dated April 18, • '
2011, recorded as Instrument No.2011021322 (the"Deed of Trust') to the City of Arroyo .
Grande as Trustee, covering: '
See Exhibit"A," attached hereto and incorporated by reference.hereirni
(APN: 007-019-034) . • • •
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to secure performance under the Buyer's Occupancy and Resale Agreement with Option ..
to Purchase, dated April 18, 2011, recorded as Instrument Na 2011021321, in favor of •
Beneficiary; and
WHEREAS, Owner has executed, 9r is about to execute, a deed of trust and note in the •
sum of $232,025 dated ;z/2-/ /2C in favor of Quicken• Loans' Inc., ISAOA, ' • " • .
hereinafter referred to as "Lender," payable with interest and upon• the terrris and .
conditions described therein, which deed of trust is also to 6,e recorded concurrently .1.
herewith; 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 (fiat Beneficiary will
specifically and unconditionally subordinate the lien or charge of the deed of trust first •
above mentioned to the lien or charge of said deed of trust in favor of Lender; and
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Requested By SPL •
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RECORDING REQUESTED BY AND •
WHEN RECORDED MAIL TO: , •
CITY OF ARROYO GRANDE
300 E. BRANCH STREET
ARROYO GRANDE, CA 93420
ATTN: CITY CLERK
6•7('7'/C'XS-5dig 320g SSPACE ABOVE THIS LINE FOR RECORDER'S USE ONLY
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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 this 28 day of January, 2020 by John L. Malinowski and
Jennifer Malinowski, owners of the land hereinafter described and hereinafter referred to
as "Owner,"and the City of Arroyo Grande, present owner alid holder of the deed of trust •
first hereinafter described and hereinafter referred to as "Beneficiary"; •
WITNESSETH •
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WHEREAS, Owner executed a Deed of Trust and Security Agreement, dated April 18,
2011, recorded as Instrument No. 2011021322 (the "Deed of Trust") to the City•of Arroyo
Grande as Trustee, covering:
See Exhibit "A," attached hereto and incorporated by reference herein
(APN: 007-019-034)
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to secure performance under the Buyer's Occupancy and Resale Agreement with Option •
to Purchase, dated April 18, 2011, recorded as Instrument No. 2011021321, in favor of •
Beneficiary; and • o •
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WHEREAS, Owner has execu ed, r is about to execute, a deed of trust and note in the •
sum of $232,025 dated z/2-/ /20 in favor of Quicken Loans'' Inc., ISAOA,
hereinafter referred to as "Lender," payable with interest and• upon the terrris and
conditions described therein, which deed of trust is also to 6,e recorded concurrently
herewith; 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 said deed of trust in favor of Lender; and
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WHEREAS, it is to the mutual benefit of the parties hereto that Leradermake 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 •
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hereby acknowledged, and in order to induce Lender to make the loan above referred to,
it is hereby declared, understood, and agreed as follows;
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1) That said deed of trust securing said note in favor of Lender, and any renewals or •
extensions thereof, shall unconditionally be and remainit all times a lien or charge
on the property therein described, prior and superior to the lien or charge of the
deed of trust first above mentioned.
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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 first above mentioned to the
lien or charge of the deed of trust in favor of lender above referred to and
specifically described, any prior agreement as to such subordination including, but
not limited to, those provisions, if any, contained in the deed of trust first above .
mentioned, which provide for the subordination of the 410 or charge thereof to
another deed or deeds of trust or to another mortgage or mortgages.
Beneficiary declares, agrees, and acknowledges that
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a) He consents to the note and deed of trust in favor of Lender above referred to, and
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 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;
c) He intentionally and unconditionally waives, relinquishes, and subordinates the
lien or charge of the deed of trust first•above mentioned in fa7or of the lien or , •
charge upon said land of the deed of trust in favor of Lender.al we referreg<,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
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said reliance upon this waiver, relinquishment and subordination; and
d) An endorsement has been placed upon the deed of trust first above mentioned .
that said deed of trust has by this instrument been subordinated tb 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 LAND. .
BENEFICIARY: OWNER: 2 0'.'
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10,
James B: 4�. Manager ohn L. Malinowski
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.•141.. I4. 11i .�iu,L�l
ennifer tlinowsk
(ALL SIGNATURES MUST BE ACKNOWLEDGED.)
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ACKNOWLEDGMENT
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
County of San Luis Obispo
On February 21, 2020 before me, _ K. Marrs, Notary Public
(insert name and title of the officer)
personally appeared John L. Malinowski &Jennifer Malinowski
who proved to me on the basis of satisfactory evidence to be the person&whose name is/C)
subscribed to the within instrument and acknowledged to me that he/she/a•xecuted the same in
his/her/0 authorized capacity, and that by his/her 40 signature(3) on the instrument the
person ) or the entity upon beha f of which the person to, 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. "N, K. MARRS
— _ „_: Comm.#2226519 '^
N " �y:e.2 NOTARY PUBLIC-CALIFORNIA
� " MY COMM.E OBIDEC.24,2021 E
Signature (Seal)
F
Acknowledgment , .
A notary public or other officer completing this certificate verifies only the identify
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 ) a ,
Cocnty of San Luis Obispo )
On c\u4 2 Zo7� , before me,..... S\Cot 1 SD119; notary public,
personally apparecI�c`- ren , who proved to me on the basis of
satisfactory evidence to be the person ) 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'Cd.lifornia that the •
foregoing paragraph is true and correct. f•
ITNESS my hand and official seal. ;
y� .°•, JESSICA MATSON_9....%_/,s C` F 1��7 ►�c 1/4..-,..—____ 1...... „... . Nota P
Q.
, ry Public-California
otary Signature) (Seal), z : � San Luis Obispo County
Commission 62235281 -
"`°` My Eomm.Expires Mar 22,2022.
Acknowledgment
A •atary public or other officer completing this certificate verifies only the identity
of the "..ividual who signed the document to which this certificate is attached, _
and not th- thfulness, accuracy, or validity of that document.
State of Californ . •) $'' . 0
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County of San Luis Obisp• )
On , b- 5 -Js;, , notary public,
personally appeared 4 , who proved to me on The basis of - -
satisfactory evidence to be the person(s) , .t.:4;,, ame(s)9is/are subscribed to the within •
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instrument and acknowledged to me that he/sh=-'4,4,--x-cuted the same in his/her/their
authorized capacity(ies) and that by his/her/their sign: - -(s) on the instrument the •
person(s), or the entity upon behalf of which the person(s ted, executed t
instrument. .
I certify under PENALTY OF PERJURY under the laws of the State California that the -
foregoing paragraph is true and correct. j
WITNESS my hand and official seal. .
(Notary Signature) (Seal) . .
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EXHIBIT "A"
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF ARROYO GRANDE,COUNTY OF SAN LUIS OBISPO,
STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS;
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PARCEL 1: •
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Parcel B of Certificate of Compliance for Lot Line Adjustment No. 10-004,according to document recorded April 11,2011,as
Instrument No. 2011017723,of Official Records in the Office of the San Luis Obispo County' Recorder and more particulariy'Q.
described as follows:
A portion of Parcel A of Parcel Map AGAL 10-0075 filed October 26,2010 in Book 74 of Parcel Maps at Pages 48 through 50
and all of Lot:16 of Tract 2236 In the City of Arroyo Grande,County of San Luis Obispo,State of California;according to map
filed December 8, 2006 in Book 29 of Maps at Pages 14 through 17, in the Office of the County Recorder of said County
described as follows:
Beginning at the most Northwesterly corner of said Lot 16 being a PK nail&Tag"LS 5693"set in pavement accepted in lieu of -
5/8" rebar with plastic cap stamped"LS 5693" per Parcel Map AGAL 10-0075; thence • •
1) North 48°38'33"East a distance of 68.01 feet to a point on teh Northeast 11pe of said Parcel A which bears South 51°41'.04"
East 95.66 feet from the most Northerly corner of said Parcel A; thence
g.
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2) South 51'41'04"East along the Northeast line of said Parcel A and the Northeast line of said Lot 16, a distance of 226.24
feet to the Easterly corner of said Lot 16;thence •
3) South 27"50'46"West along the Southeast line of said Lot 16 a distance of 104.01 feet; thence •
4) North 4341'57"West along the Southwest line of said Lot 16 a distance of 129.42.feet; thence
5) South 78"10'58" West along the Southeast line of said Lot 16 a distance of 80.03 feet; thence
6) North 6°20'23"West along the Westerly line of said Lot 16 a distance of 110,79 feeot to the Point' f Beginning.
Excepting therefrom an undivided 5/12th interest in and to all oil, gas and other hydrocarbon substances produced on said
land as reserved by William Quaresma,Joseph Quaresma, Edward Quaresma, Eveiine Lovacz, formerly Eveline Quaresma,
Ernest Olive and Lucille Olive Simas, in deed dated January 3, 1952 and recorded January 28,1952'in book 643, page 426 of
official records.
Said surface rights have been relinquished by certain documents recorded December 29; 1977 in Book 2036, Pages 749
through 752 of Official Records; recorded January 9, 1978 In book 2039, page 2 of official records'and recorded August 17,
1979 in book 2178, page 840 of official records.
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Reserving unto the grantor herein a non-exclusive easement for ingress,egrets,private water,sewer,drainage
and public utility purposes over that certain portion of Parcel B of Certificate of Compliance recorded April 11,
2011 as Instrument No.2011017723,shown and depicted on Parcel Map AGAL 10-0075 per Map flled in Book
74 Pages 48 through 50 of Parcel Maps as "easement for reciprocal ingress, egress, private water, sewer,
drainage and P.U.E.per this map".Reserved easement is to be appurtenant to the following parcels:Parcels B
of Parcel Map AGAL 10-0075 per map filed in Book 74 Pages 48 through 50 of Parcel-Maps and Parcel A of.'
Certificate of Compliance recorded April 11,2011 as Instrument No. 2011017722. - '
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PARCEL 2:
A non-exclusive easement for Ingress, egress, private water,sewer, drainage and public utility purposes over those certain
portions of Parcels B and C of Parcel Map AGAL 10-0075 per map filed in Book 74 Pages•48 through 50 of Parcel Maps and
Parcel A of Certificate of Compliance recorded April 11, 2011 as instrument 2011017722 as said easement is shown and
depicted on Parcel Map AGAL 10-0075 in the county of San Luis Obispo,State of California as per map filed in Book 74 Pages
48 through 5.0 of Parcel Maps in the office of the County Recorder of said county as"easement for reciprocal Ingress,egress,
private water, sewer, drainage and P.U.E. per this map". •
PARCEL 3:
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An non-exclusive easement for access, ingress and egress as described in that certain Easement Grant Deed, recorded
December 8, 2006 as Document No. 2006086701 of Official Records.
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APN: 007-019-018 and a portion of 007-019-031
Subject to the Covenants,Conditions and Restrictions set forth in that certain Declaratibn of Restrictions recorded December
8,2006 Instrument No.2006086968 and First Amendment to Declaration of Covenants,Conditions and Restrictions recorded
January 27,2011,Instrument No.2011004480 of Official Records of San Luis Obispo County,'and any Amendments thereto;
all of which are incorporated herein by reference to said Declaration with the same effect as though fuily set forth herein.Your
legal rights and legal procedures regarding this property may be affected by Seller'srelection in and be bound by the non
adversarial pre-litigation homebullder fix-it construction dispute resolution law codified in Division 1, Part 2,Title 7 of the
California Gvil Code commencing with Section 895(S.B.800)
Buyer(s)shall provide to subsequent purchasers the information,documents,warranties and maintenancemanuals,Buyer(s)
received from Builder regarding Builder's S.B. 800 election and Home Buyers Warranty. •
APN: 007-019-034
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