RecDoc 2013-065195 - Laserfiche WebLink

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RECORDING REQUESTED 8Y: EQUlTY TITLE-ORANG�CdUNTYIIPiLAND EMPf RE AND WHEN RECORD�D MAtL TO: City af Redwood City CDD—Pianning and Housing �'�� 1017 Middlefield Road Redwoad Cfty, CA. 94063 Order No.: PL-19165 Escrow No.: 2Q13009012 f1.�'.t�.: iJ53-?42-�'��(J Sf'AC[�r�L3C7`v"3�:TH15 L.II��:I�F`t7€�F�EC�C3!"ZtJf�i�`� IJ�� SUBQRDINATION AGREEMENT NOTlCE: TWIS SUBORDlNATION AGREEMEN"t RESULTS IN YOUR SECURITY INTEREST IN THE PR�PERTY BECOMING SUBJECT TO ANE? QF LOWER PRIORITY THAN THE L1EN UF SOME Q�THER QR LATER SECURITY INSTRUMENT. THlS AGREEMENT, made March 22, 2013 by Barbara Estrada, owner of the land hereirtafter described and hereinafter referred#o as"Owner,"and Redeveiopment Agency of The City af Redwaod City, a Corporation organizsd and existing under the laws of the State of Cafifornia present awner and halder of the deed of trust and note first hereinafter described and hereinafter r�ferred ia as "Beneficiary`; W�TNESSETH THAT WHEREAS, Barbara �strada, did execute a deed of trust dated 05/31/20U1, to Arrlerican Title Campany, as Trustee, cavering thaf property in the Gity of Redwood City, County af San Mateo, State of California, described as: See Exhibit"A"attached hereto and made a part hereof for corrtpleke legal description. to secure a note in the sum of$10p,OQ0.�70, dated 05131t2001, in favpr of Redevelopment Agency of Th�Ci#y of Redwoad City,which deed of trust was recorded OFi/08i2Q01, as 1�strument Na. 20a1-084332,of Off(cial Records of said county; and WHEREAS, Owner has executed, or Is abouf to execute, a deed of trust anci note NQT to exceed the sum af $133,985,00�l�teti___,,,�,�� Z �,,._._..�0�� , in favor of, JP Morgan Cl�ase Bank, N.A. hereinafter referred to as "Lender," payabie with i terest and upon the terms and conditions descnbed therein,which deed of trust is tQ be recorded concurrently herewith; and WHEREAS, it is a condition precedent ta obtaining said loan that said deed af trust last above mentioned sha{I unconditionafly be and remaln at aid times a lien or charge upon the land hereinbefore described, priar and superior to the lien or charge of the deed of trust first above mentioned; and W HEREAS,lender 3s willing to maka said loan pro�itled the deed of trust securing#he same is a lien or charge upon the above described property prior tt��t��a�:li�.�t c��;l��r��c r�f tt�� i��i of#rust first above mentioned and provided that 8eneficiary wiA specifically and �4��r,r�r7diti�r��[fy s��4��rcli��:�tc�tl�e;lien or charge of the deed of trust first above mentioned to the lien 4r eharge af the deeci c�E°trc��t!r�f�v��r ra#�.€��zc��c; �e�c� Wi�EREAS, it is to tne mutua(benefif of the parties hereto that Lender make s�ah loan to Owner; and Beneficlary is wil(ing that the deed of trust securing the same shall, when recorded, cc�nstitute a lien or eharge upon said land which is uncandltlonally prior and superior to the lien or charge of the deed of trust#irst above mentioned.