HomeMy WebLinkAboutFord St. Project 2007-04-05+ 4
AND WHEN RECORDED MAIL TO:
City of Ukiah Redevelopment Agency
300 Seminary Ave.
Ukiah, Ca. 95482
Above This Line for Recorder's Use Only
A.P.N.: 002-121-19 File No.: 2306-2440591 (MB)
SUBORDINATION AGREEMENT
(EXISTING TO NEW)
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 Fifth day of April, 2007, by
Ford Street Project
Owner of the land hereinafter described and hereinafter referred to as "Owner", and
City of Ukiah Redevelopment Agency
present Owner and Holder of the Deeld of Trust,and Note first hereinafter described and hereinafter referred to. as
"Beneficiary";
WITNESSETH
THAT WHEREAS, Owner has executed a Deed of Trust dated August 23, 2006 to First American Title Company, a
California Corporation, as Trustee, covering:
Tract One:
200
RECORDING REQUESTED BY
First American Title Company
2007-0634
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Page 1 of 6
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A.P.N.: 002-121-19 Subordination Agreement - continued File No.: 2306-
2440591(MB)
Date: March 29, 2007
Commencing at the intersection of the South line of Ford Street and the Westerly right of way line of the
Northwestern Pacific Railroad; thence Westerly along the South line of said Ford Street, 137.12 feet to the
Northwest corner of the Ford Street Project property as described in Instrument #2004-21560, Official Records,
Mendocino County Records, thence along the West line of said Ford Street Project property South 03015'00" East,
73.00 feet to the point of beginning of this description; thence leaving said West line South 86045'00"West, 62.50
feet; thence South 03015'00" East, 19.00 feet; thence South 86045'00" West, 37.50 feet; thence South 03015'00"
East, 200 feet, more or less, to the center of Orr Creek; thence Easterly down the center of Orr Creek 100 feet,
more or less, to a point from which the point of, beginning bears North 03015'00" West, thence North 030 15' 00"
West, 197 feet, more or less, to the point of beginning.
APN: 002-121-19
Said Tract One is pursuant to City of Ukiah Boundary Line Adjustment #05-30, completed by Quitclaim Deed
recorded January 18, 2006 as 2006-01090, Mendocino County Records.
Reserving therefrom a non-exclusive easement for ingress and egress over that portion of the lands described
above lying within the lands described in the second paragraph of Tract Two herein.
Tract Two:
An easement for ingress and egress located within a portion of the Gitlin/Idarius property as described in the
Grant Deed recorded June 27, 2006 in Instrument No. 2006-12570 Mendocino County Records, said easement is
for the benefit of the Gitlin property as described in the Grant Deed recorded July 13, 2006 in Instrument No.
2006-13689. The easement area is only that portion of the following described property that lies within the said
Gitlin/Idarius property.
COMMENCING at the intersection of the south line of Ford Street and the westerly right of way line of the
Northwestern Pacific Railroad; thence Westerly along the south line of said Ford Street, 137.12 feet to the
northeast corner of the said Gitlin/Idarius property; thence continuing Westerly along the said south line, 49.00
feet to the POINT OF BEGINNING of this easement description; thence leaving said south line South 41119'31"
West, 5.71 feet; thence South 03015'00" East, 51.41 feet; thence along a curve to the right with a radius of 51.00
feet, a central angle of 85030'06" and an arc length of 76.11 feet to a point on the west line of the said Gitlin
property; thence along the said west line North 03015'00" West, 15.13 feet to the northwest corner of said Gitlin
property; thence leaving said west line and continuing North 03015'00" West, 11.03 feet; thence from a tangent
that bears North 7703235" East, along a curve to the left with a radius of 25.00 feet, a central angle of 80047'35"
and an arc length of 35.25 feet; thence North 03015'00" West, 54.98 feet to a point on the south line of the said
Ford Street; thence along the said south line Easterly, 30.00 feet to the Point of Beginning of this easement area.
to secure a Note in the sum of $70,000.00, dated August 23, 2006, in favor of City of Ukiah Development Agency,
which Deed of Trust was recorded October 4, 2006 in Book Page or Instrument No. 2006-19830, of said
County; and
WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of $1,000,000.00,
dated March 27, 2007, in favor of Department of Housing and Community Development, a public agency of the
State of California., 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
Page 2 of 6
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A.P.N.: 002-121-19 Subordination Agreement - continued File No.: 2306-
2440591 (MB)
Date: March 29, 2007
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 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 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 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 said reliance upon this waiver, relinquishment and
subordination; and
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A.P.N.: 002-121-19 Subordination Agreement - continued File No.: 2306-.
2440591 (MB)
Date: March 29, 2007
(d) An endorsement has been placed upon the Note secured by 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 OTHER
PURPOSES THAN THE IMPROVEMENT OF THE LAND.
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES
CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
(CLTA SUBORDINATION FORM "A")
OWNER:
Ford Street Project
(i M AL
By: Mark Rohloff, Execu 1 Director
Page 4 of 6
1111 Jill pama~683a1
A.P.N.: 002-121-19 Subordination Agreement - continued File No.: 2306-
2440591(MB)
Date: March 29, 2007
STATE OF CALIFORNIA }
}ss.
COUNTY OF MENDOCINO }
On / //&,A~ &6, 500 7 ,before rile, 411¢ S'M,Notary
Public, personally appeared !!1'~~?OG/tea
personally known to me (or 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 tome that he/she/they executed the same
in his/her/their authorized capacity(ies) and that 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.
Signature
My Commission Expires:
Notary Name: OM SUMMIrd
Notary Registration Number: /SDoI/
OFFICIAL SEAL- 1502146
MARILYN BUZZARD n
LK 'iaa;
"IOTARYPUBLIC -CALIF 0
COUNTY OF MENDOCINO 1
MY Comm. Exp. Aug. 14, 2008
This area for official notarial seal
Notary Phone:
/.°~~i %~17UGiiVv
County of Principal Place of Business:
Page 5 of 6
2007-06341
A.P.N.: 002-121-19
BENEFICIARY:
Subordination Agreement - continued File No.: 2306-
2440591 (MB)
Date: March 29, 2007
City of Ukiah Redevelopment Agency
By: ✓
a n d ~-r-Q. ~~-e rS~
STATE OF (&Y- a eL )SS
COUNTY OF
On
before
me, Notary Public, personally appeared
personally known to me (or proved
to me on the basis of satisfactory evide ce) to be the person(( whose name(A is/ape subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in hit/her/their authorized
capacity(, and that by Ngffier/o it signatures on the instrument the person), or the entity upon behalf of
which the person acted, executed the instrument.
WITNESS my hand and official seal.
Signature
My Commission Expires:
Notary Name: Notary Registration Number: % q& q q3 j
DEBORAH POLLOCK
Commission # 1464431 x
Notary Public - California t
Mendocino County
OIMVComm. Expke3 Jan 20, 2008
This area for official notarial seal
Notary Phone: 76'7 - k 3 -loJ 00
Vlp~~d_~-~a~~ S
County of Principal Place of Business:
Page 6 of 6
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BY .
RECORDING REQUESTED BY 4 fa'S `r.•{~i7 r' I. t) 17A
First American Title Company r'f'., 00 I•I0 of 1' ~l:I{.~.:> 6
fll F,1 (:,:.I: rli. I~f (r(:Ihl~{•;
AND WHEN RECORDED MAIL TO` - 1y1 t r ;sh r ft i~Jl~ ~.r. , t' 1 I:. fku~t:`..1
City of Ukiah Redevelopment Agency IA ot.t T-1 1, y C.. f
300 Seminary Ave.
Ukiah, Ca. 95482
Space Above This Line for Recorder's Use Only
File No.: 2306-244059.1 (MB)
A.P.N.: 002-121-19
SUBORDINATION AGREEMENT
.(EXISTING TO NEW)
: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 Fifth day of April, 2007, by
Ford Street Project
Owner of the land hereinafter described and hereinafter referred tows "Owner", and
City of 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, Owner has executed a Deed of Trust dated August 23, 2006 to First American Title Company, a
California Corporation, as Trustee, covering:
Tract One:
Page l of 6
1 y
A.P.N.: 002-121-19
-
Subordination Agreement -continued File No.: 2440591 2306(MB)
Date: March 29, 2007
right f way of the
Commencing at the intersection of the South uth line of Ford Street and tf sa deFord St eet,137 12'f et to the
Northwestern Pacific Railroad; thence Westerly along the So line o
Northwest corner of the Ford Street Project. a We t line as described in Instrument #2004-21560, of said Ford Street Project property Off03015icial
6250
Mendocino County Records, thence along th
73.00 feet to the point of beginning of this des~hen'ce ;Sothence leaving uth said
37.50 f et; t ence South 03°15'00"
feet; thence South 03°15'00" East, 19.00 feet, Creek East, 200 feet, more or less, to the center of Orr Creek; thence 03 wn the cente of Or North 03°0.f et,
more or less, to a point from which the point of beginning bears North
West,197 feet, more or less, to the point of beginning.
APN: 002-12149
Said Tract One is pursuant to City of Ukiah Boundary Line Adjustment #05-30, completed by Quitclaim Deed
recorded January 18, 2006 as 2006-01090, Mendocino County Records.
Reserving therefrom a non-exclusive easement for ingress and egress over that portion of the lands described
above lying within the lands described in the second paragraph of Tract T
Tract Two:
An easement for ingress and egress located within a portion of the Gitlin/Idarius property as described in the
Grant Deed recorded June 27, 2006 in Instrument No. 2006-12570 Mendocino County Records, said easement is
for the benefit of the Gitlin property as described in, the Grant Deed recorded July 13, 2006 in Instrument No.
2006-13689. The easement area is only that portion of the following described property that lies within the said
Gitlin/Idarius property. way
line
the COMMENCING at the intersection of the south line of Ford Street and the
Ford westerly right 137 12 feet to t e
Northwestern Pacific Railroad; thence Westerly along the south line of said
49.00
northeast corner of the said Gi G th sse easement description; thence leaving sal d south l ne Ssouth outh I41019'31"
feet to the POINT OF BEGINNING
West, 5.71 feet; thence South 03°15'00" East, 51.41 feet; thence along a curve to the right with a radius of 51.00 of the feet, a central angle of 85030'06" and an arc length of 76.11 feet to a point
pet tot he west lie t corner o d GitlGitlin
property; thence along the said west line North 03015'00" West, 15.13 property; thence leaving said west line and continuing North 03015'00" West, 11.03 feet; thence from a tangent
that bears North 77032'35" East, along a curve the left with a radius of 25.00 feet, a 0" West 54 98 feet to a po nt on thetsoral uth gne of800
he said 11
and an arc length of 35.25 feet; thence North
Ford Street; thence along the said south line Easterly, 30.00 feet to the Point of Beginning of this easement area.
to secure a Note in the sum of $70,000.00, dated August 23, 2006, in favor of City of Ukiah Development Agency,
which Deed of Trust was recorded October 4, 2006 in Book Page or Instrument No. 2006-19830, of said
County; and um of WHEREAS, Owner has executed, or is about to execute, a Deed of Trust an Note i the sa public ,000,0 0 00,
dated March 27, 2007, in favor of Department of Housing and Community Development, .State of California., 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
Page 2 of 6 20 ~YIWYn~~1111I INi Ga0216 341
x
File No.: 2306-
Subordination Agreement - continued 2440591 (MB)
A.P.N.: 002-121-19 Date' March 29, 2007
id loan that said Deed of Trust last abo'bed mentioned prior and shall
WHEREAS, it is a condition precedent to obtaining sa on the land hereinbefore desc
all times a lien or Deed of Trust first rabo a mentioned; and charge
unconditionally be and remain at
superior to the lien or charge of
e said loan provided the Deed of Trustsecuring the same is a lien o
of the Deed of Trust first abovee
WHEREAS, Lender is willing to mak rior and superior to the lien or charge
of Lender; and charge of th
u on the above described property p will specifically and unconditionally, subordifavor nate
p rovided that Beneficiary mentioned and p
Deed of Trust first above mentioned to the -lien or charge of the Deed of Trust
a such loan to owner; and Beneficiary
it is to the mutual benefit of the parties hereto that Lender n
he same shall, when recorded, constitute a lien or charge upon said
WHEREAS, d o
is willing that the Deed of Trust securing Trust first above mentioned.
and which is unconditionally prior and superior to the lien or charge of the Deed
hereto and other valuable
l to the part
NOW, THEREFORE, in consideration of the mutual benefits accruing d and agreed. as follows:
consideration, the receipt and by acknowledged, and in order to induce
sufficiency of of which consideration is here
Lender to make the loan above referred to, it is hereby declared, understo renewals or extensions thereof,
pro
1 That said Deed of Trust secure main at II timesaa lien oe harge on th ro perty
and superior to the lien or charge of therein described, prior
the Deed of Trust first above mentioned.
shalt unconditionally be and remain
its loan above described without this subordination
the subordination of the lien
-
(2) That Lender would not make agreement with regard
Trust first above mentioned to the lien or charge of the Deed of Trust in favor o
That this agreement shall be the whole and only;
insofar as would affect the priority
but only
or charge of the Deed of
Lender above referred to and shall supersede and cance , d any contained in the Deed of trust first
thereof agreement D as to such
another Deed first
between the Deeds of Trust nhere ot lima ed to, tho a provisions, if any, prior
subordination including, but not lime
Mortgagesn of the lien or charge
above mentioned, which provide for to subord
I Deeds of Trust or to another Mortgag
Beneficiary declares, agrees and acknowledges that
!
st in favor of Lender bove
approves i) all provisions of the Note and Deed loan or es row agreements abetween
(a) He consents to and ( but not limited to any
I referred to, and (ii) all agreements nt of including the proceeds of Lender's loan; to, nor
Pursuant to any such agreement is under no thelperson ation oor d persons to
owner and Lender for the disbursem(b) Lender in making disbursements ticattorr of such proceeds by
h ion or use o fssuch eat the proceeds for purposes other
has Lender represented hat it ~lsee to
any application subordination herein made
whom Lender disburses suc proceeds than those provided for in such agreement or agreements shall no
ditionallywaives, relinquishes and suboraid land of the Deed o Trust in favor the lien or charge of the Deed
in whole io in pans
nti
(C) He intentionally and unconditionally
of Trust first above mentioned in favor of the lien or charge upon
of Lender above referred to and understands that in reliance uaon, and in consideration of, this waiver,
bein and will be made and, as part
obligations are being and will be entered into whit
relinquishment and subordination specific loans and advances waiver, relinquishment and
and parcel thereof, specific monetary and other
would, not be made or entered into but for said reliance upon this
subordination; and
Page 3 of 6 ID4
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IIIIIIIIIIIIIII
o
-
A.P.N.: 002-121-19 Subordination Agreement -continued File No.: 2306
2440591 (MB)
Date: March 29, 2007
d An endorsement has been placed upon the Note secured by Deed of Trust
cfirst above harge of the ratio of Tthat rust in
said Deed of Trust has by this instrument been subordinated to the lien
favor of Lender above referred to.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS REAL PROPERTY SECURITY TO
ALLOWS THE PERSON OBLIGATED ON YOUR OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPENDED FOR OTHER
PURPOSES THAN THE IMPROVEMENT OF THE LAND.
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
IT IS RECOMMENDED THAT, PRIOR TO THE EXECU770N OF THIS SUBORDINA77.ON AGREEMENT, THE PARTIES
CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERET
(CLTA SUBORDINATION FORM "A")
OWNER:
Ford Street Project
By: Mark Rohloff, Execu ' Director
Page 4 of 6
2007-06341
1111111 lllll 1111llllllllllllllllll~~ Pq . 416
File No.: 2306-
Subordination Agreement - continued 2440591 (MB)
A.P.N 002-121-19
Date: March 29, 2007
CALIFORNIA }
STATE OF }ss. •
MENDOCINO }
COUNTY OFD ~Notary
Lh~` before e
On , 14 2
. /L G U
appeared erson
Public, personally evidence) to be 'the p(s) whose
personally known to me (or proved 'to me on the basis of satisfactory instrument the person(s) or the
name(s) is/are subscribed to the within instrument and acknowledged to me tthe he/she/they executed the same
in his/her/their. authorized capacity(ies) and. that his/her/their signature(s)
entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal oFFiciALGAILYN SEAL-1502145
MRBUZZARD n
P
`!o rARY ['UREIC -CALIF.
z COUNTY OF MENDOCINO
My Comm. Exp. Aug.14, 2008
Signature
This area for official notarial seal
My Commission Expires:
V' . i Notary Phone: ~i~!l7U~~iV
Notary Name; l County of Principal Place of Business:.r
Notary Registration Number:
I
Page 5 of 6
2007-0634'1
1111111 IN 11111111 IN 111111IN P9:516
File No.: 2306-
A.P.N.: 002-121-19 Subordination Agreement - continued 2440591 (MB)
Date: March 29, 2007
BENEFICIARY:
City of Ukiah Redevelopment Agency
By: ✓
STATE OF C . )SS
COUNTY OF o r r~uiH i )
C7 , before eared
On Notary Public, personally appeared
me personally known to me (or proved
/tve' s bscribed toed the within
me the basis of.satisfactory evid~ ce) to be the person(o whose name( is/aye'
inn hstruma ent and acknowledged to me that he/she/fey executed the same in is/ the entity upon behalf of
capacityQe~ and that by .hisg/her/their signature(s) on the instrument the personk~, or
which the persono acted, executed the instrument.
DEBORAH P®LLOCK
WITNESS my hand and official seal. commission # 1464431
Notary Put& California '
Mendocino County
My Comm. Expires Jon 20, 2006
Signature
This area for official notarial seal
D
My Commission Expires: -A-~-~
, n. QA p D,-E Notary Phone: 6
Notary Name: -L
County of Principal Place of Business
I Number:
Notary Registration
i
Page 6 of 6
2007-06341
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I I I I I I I I I I I I I I I I I I I I