RecD05 2005-139660 - Laserfiche WebLink

Browse Search

'RECORDING REQUE5TED~Y OLD MPUBLIC TITLE COMPANY ORDER #: 0360004846-MT 2005-139660 OLD REPUBLIC TITLE COMPANY 02:16pm 08/15105 SA Fee: 16.00 Count of pages 4 Recorded in Official Records I WHEN RECORDED MAIL TO I County of San Mateo Name: City of Redwood City Warren Slocum Street Assessor-County Clerk-Recorder ~::~:~:: ~:::~~:d~~:~I:::63 111111111111111111111111111111111\111111111111111111111111111\\ 111\111\ 111\ 1'";'\- " I *200S0139660AR* L.t:JTre 1Jn D N ; M t> u oS ; w:f --.J <:J ~"'AC/:: ABOVE TffIS UNE FOR RECORDERS USE A SUBORDINATION AGREEMENT L( ( 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. APN #: 053-251-060 ~ THIS AGREEMENT, made this 26th day of June, 2005, by Cindy Reguerin, owner of the land hereinafter described and hereinafter referred to as "Owner", and City of Redwood City, present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as "Beneficiary": WITN ESSETH THAT WHEREAS, Cindy Reguerin did execute a deed of trust, dated February 21, 2003, to Fidelity National Title Insurance co, as Trustee, covering; See "Exhibit A" attached hereto and made a part hereof to secure a note in the sum of $100,000.00, dated February 21, 2003, in favor of City of Redwood City, which deed of trust was recorded on April 11, 2003, in Book/Reel n/a, at Page/Image n/a, Series/Instrument 2003- 096601, Official Records of said county; and \D 0 I ...... LI') N I LI') N 0 I C'ì LI') 0 WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $275,000.00, dated August 8, 2005 , in favor of RCSSE Federal Credit Union, hereinafter referred to as "Lender", payable with interest and upon the terms and conditions described therein, which deed of trust is to be recorded concurrently herewith; and z p.., ....., 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 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 of 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. SUBORDINATION, RECORDED DEED OF TRUST TO DEED OF TRUST TO RECORD. ORTIC-951 2/94 - Subordination Agreement - A 1 of 3