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Home My WebLink AboutRedwood Empire Title 2 2003-02-28RECORDING REQUESTED BY CHICAGO TITLE COMPANY AND WHEN RECORDED MAIL TO \ UKIAH REDEVELOPMENT AGENCY 300 SEMINARY AVE. UKIAH, CA 95482 ' I11:111 [uQfIIIIIMIIIIIIIIInIYI['dIIII,IUI~IdVI 2003-0511. 1. I :Z c? c:: ca •r d e d a •t; •t h k, •r c' cl u e iii •t: a •f R1---1)WO0D 1=:111 1I:tE T1:T1...IW oc:'/28/206;3 10::26A 1' e e „ 19.00 Itl c) -f I••' ait e iii „ 5 is F1::•:I C1:f51... RE:C`.t: R1)I3 I'1endoc:::i.no Ccaun•t,y, :f1 IYi a •r i.- I•t a n t4 h a •r f f, C :I. e~ r• N~ - rti c:~ c:: c:~ r c:l c5 r Order No. 000222690 - Escrow No. 222690 - 23 ! SPACE ABOVE THIS LINE FOR RECORDER'S USE CT T nR T7)TT%T A TTnN A rTR IPI .MT FARRIS '1`9 1 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 February 11, 2003 , by SUZANNE FARRIS AKA SUZANNE MCCANN, AN UNMARRIED WOMAN owner of the land hereinafter described and hereinafter referred to as "Owner", and UKIAH REDEVELOPMENT AGENCY present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as 'Beneficiary'; WITNESSETH THAT WHEREAS, SUZANNE FARRIS AKA SUZANNE MCCANN, AN UNMARRIED WOMAN did execute a deed of trust, dated NOVEMBER 15, 2000 , to REDWOOD E14PIRE TITLE COMPANY OF MENDOCINO COUNTY as trustee, covering that certain real property described axx in said deed of trust to secure a note in the sum of $$10, 113 .0 0 , dated NOVEMBER 15, 2000 , in favor of UKIAH REDEVELOPMENT AGENCY which deed of trust was recorded JULY 10 , 2001 in book/reel , page/image , Official Records of said county and/or as document number/series 2001-12990 ;and Page I of 3 SAA1 7/93 ksn WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $$681000.00 , dated FEBRUARY 6, 2003 , in favor of SCME MORTGAGE BANKERS, INC., A CALIFORNIA CORPORATION, as lender 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 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 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 first 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 first above mentioned to the lien or charge of the deed of trust in favor of 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 agreements 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 lien or charge thereof to another deed or deeds of trust or to another mortgage or mortgages. Beneficiary declares, agrees and acknowledges that (a) He 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 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 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 speck 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 said reliance upon this waiver, relinquishment and subordination; and SAA2 7/93 ksn Page 2 of 3 I~Illh'V~!VI~IN~IIIIYIAAIYIIIIIIIIIVIVIIIN 2003-05111 Page: 5 (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 PURPOSES OTHER THAN IMPROVEMENT OF THE LAND. UKIAH REDEVELOPMENT AGENCY BY 1 C~lNDJ3C~ fJOt~~.t'C.~"Y e SUZANNE FARRIS Page: 3 of 5 (All signatures must be acknowledged) Page 3 of 3 This Form Furnished By CHICAGO TITLE COMPANY SAA3 7/93 ksn IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO. (SUBORDINATION FORM "A" DEED OF TRUST OF RECORD TO NEW DEED OF TRUST) CALIFORNIA ALL-PURPOSE t , State of ccli County of 2~, On ffz:fl (!9 1 before me, S C~ J ~ -Jd Date _Name and Title of Officer (e.g., "Jane Doe, Notary Public'personally appeared Name(s) of ❑ personally known to me - OR - C~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), r SHAtdP10Pd DRAGNESS or the entity upon behalf of which the person(s) acted, COMM # 1366146 executed the instrument. NOTARY PUBLIC-CALIFORNIA W ' cF ~ i rr s~ MNDOCINO COUNTY COMM. [XP, JULY 25 , 2006 WITNESS my hand and official seal. lic p Sign t ry Pu OA°/~(-p^/yOItlp,AL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: ❑ ❑ ❑ Capacity(ies) Claimed by Signer(s) Signer's Name: Individual Corporate Officer Title(s): Partner - ❑ Limited ❑ General Attorney-in-Fact Trustee Guardian or Conservator Other: Signer Is Representing Top of thumb here Signer's Name: ❑ ❑ Individual Corporate Officer Title(s): Partner - ❑ Limited ❑ General ❑ ❑ ❑ Attorney-in-Fact Trustee Guardian or Conservator Other: Signer Is Representing Top of thumb here ® 1995 National Notary Association • 8236 Remmet Ave.. P.D. 9- 71 Rd . r -1, 1. - • Reorder: Call Toll-Free 1-800.876-6827 110111 HE 111111111111 'Li1111111111111111111111 1 IN Page: 41of 5 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California ' ss. County of 13, 2,003 before me, `~~re cep- , On ph e ~ 0 el' Name and Til of Ofiid€r (e.g., "Jane Doe, N ry Public") personally appeared annals) of Signer(s) ❑personally known to me ❑ proved to me on the evidence JO YEE KGW { 1393828 C ~ r rr_.17 .t (;S _AL, AF ?°IXE D) basis of satisfactory 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. 6~ nature Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: - a-x-U-1 - Document Date: ~ ~u< 1( .2063 Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: ` t ❑ Individual Top of thumb here ❑ Corporate Officer - Title(s): ❑ Partner - ❑ Limited ❑ General ❑ Attorney-in-Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 1999 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 -Chatsworth, CA 91313-2402 - www.nationalnotary.org Prod. No. 5907 Reorder: Call Toll-Free 1-800-876-6827 [JIC[IC1lpllllll~lllllVll~ll~llll_IGIIIIIY ~'=':~e