RecDoc 2013-065195 - Laserfiche WebLink

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N�W THEREFORE, in consideration of the mutuai benefits accruing to the parties hereto and ather valuable consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Lendes to make the laan referred to, it is hereby declared, understood and agreed as follows: (1) 'That said desd of trust securing said note in favor of Lender, �nd any renewals or extensians thereaf, shall unconditional{y be artd remain at all times a lisn or charge on the property therein described, prior and superior to the lien or charge of the deed of trust first above mentioned. (2} That Lender would not make fts loan above described without this subardinatian agreement. (3) That this agreament shall be the whole and only agreement witt� regard to the subordinatian of the lien or charge of the deed of trust first above mentioned to the lien or charge of the r�e�c��i c��txa��t ir��var c7f l�r�der abave referred to and shall supersede and cancei, but anly insofar as would affect the��ricarity t:�c,tvs�e�n t17�cic�ri.� of trust hereinbefore specif{cally described, any prior agreement as to such subordination ir7c�l�aciinc�, ra�.�t nQt limitc�ci tc�,those provis(ans, if any, contained in the deed of trust first above mentioned,which provide for the subordination of the{ien or charge thereof to anofher deed or deeds of trust or to another mortgage Qr mortgages. Beneficiary declares,agrees and acknowledges that (a} He consents to and approves(i)all provisions af the note and deed of trust in favor of Lender abave referred ta, and (ii j ail agreemerrts, induding but not limlted to any loan or escrow agreements, between Owner and Lender for the disbursement af the procesds af Lender's loan; (b} Lender in making disbursements pursuant to any su�.l7��-�<�E�t��r��t i:��.ii�cl�r na a�iGc��twc�a�c7r duty ta, nar has �ender represented that it will, see to the applicat{on of such�rrr�c,F��ds hy the:� 4��r:�c�n c�e�.�ersrar��tc�who Lender disburses such proceeds and any application or use af such�arr.�r.�a�;cis (c��a��r��ra;��otE��:r tl7�r7�hrxse provided for in such agreement or agreements shall not defeat the subordination Fa�r�ir�n��c1�; I�r�na8�ral�nr In ��art; (c) He intentionally and unconditionally waives, relinquishes and subordlnates the lien r�r ct��r�q��f'tli��ic��c:! c:rf tr�,�;t first above mentioned In favor of the Hen or charge upon said land of the desd of trust in��v�r�~�f�.�r�eic;r�bnv�referr�� to and unders#ands that in refiance upon, and in consideration of, this waiver, relinquishr�7�nt��t! �,ut��ardAi7atE��i� ��cific loans and advances are befng and wifl be made and, as part and parcei thereof, specific monetary and other obligations are being and witl be entered into which would not be made ar entered into but for said refiance upon this waiver, relinquishment and subordination; and {d) An endorsement has been placed upon the note secured by the deed af trust first above mentioned that said deed of trust has by thls instrument been subordinafed to fhe lien or chargs of the desd of trust in favar af Lender above referred to. NOTICE: THIS SUBORDINATION AGREEMENT CONTAlNS A PROVISION WHICH ALLOWS THE f'ERSC}N OBLIGATED ON YOUR R�AL PR�PERTY SECURITY TQ OBTAIN A LC}AN A PQRTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES 7HAN iMPRdVEMENT OF THE LAND. OWNER: BENEFICIARY: , �r � ��f ,� M_�. . � �" �- ,� ' ..._ .� _- ��__� �. _.�.� __e � __ Barbara Estrada BY� '��t7r"�-�� "��'�E°'� It's:C.p�rG��hb� At�r��ts��r�a�t'zar�- ..r_._��.........._.�.�.,,w�.__�_ ........_. .�_._ By: It's: IT !S RECOMMENDED THAT, PRI�R TC}THE EXECUT10fV C}�THIS SUQORDINAT60N AGREEMENT, THE PARTIES C�NSUL.T WITH THEIR ATTORNEY5INITH RESPECT THERETtj. �c�Ya sueoRDin�Ar�on�Fo�M«a�°y