HomeMy WebLinkAboutC-4320 - Subordination Agreement for 731 Saint James RoadCOPY
CCO NOT OFR
RECORDING REQUESTED AND
WHEN RECORDED RETURN TO:
CITY OF NEWPORT BEACH
PUBLIC WORKS DEPARTMENT
P.O. Box 1768
Newport Beach, CA 92658
Recording Fee: Exempt
{Government Code — Section 6103)
APN: 049-271-07
Rocorded ii Official Records, 0 ar r1e County
Hu h Nguyen Cle rk Recorder
IL N° FEE
*$ R 0 0 0 6 1 7 2 B 3 0$*
20130005236261 09 pm 09/06/13
47 422 813 10
0.00 0.00 0.00 0.00 27.00 0.00 0.00 0.00
(Space above this line for Recorder's use)
SUBORDINATION AGREEMENT
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 EASEMENT.
This agreement, made as of the «'.l> ` day of , ?, 2013, by
Lindsay Ann Smith Fox, trustee of the Sidney Ross Trust dated April 30, 2010, owners
of the real property commonly known as 731 Saint James Road in the City of Newport
Beach, County of Orange, State of California and as more fully described in Exhibit "A,"
hereinafter referred to as "OWNERS," and Bankers Funding Company, LLC, present
holder of a deed of trust and hereafter described and hereinafter referred to as the
"MORTGAGEE"
THAT WHEREAS, OWNERS, did execute a deed of trust dated June 18, 2012,
encumbering that certain real property located at 731 Saint James Road, Newport
Beach, California 92663, Assessor Parcel Number 049-271-07 and as more fully
described in Exhibit "A" ("PROPERTY") to secure a note in the amount of $401,000.00
in favor of MORTGAGEE, which deed of trust was recorded on June 28, 2012 as
Document No. 2012000367471 in the Official Records of Orange County, CA; and
WHEREAS, OWNERS have executed, or are about to execute, a Grant of Easement for
Sanitary Sewer Line Purposes, which is attached hereto as Exhibit "A," of even date
herewith, to the City of Newport Beach, a Municipal Corporation and Charter City,
hereinafter referred to as "CITY," subject to the terms and conditions described therein;
and
WHEREAS, it is a condition precedent that the Grant of Easement for Sanitary Sewer
Line Purposes above mentioned shall unconditionally be and remain at all times an
encumbrance, interest or charge upon the land hereinbefore described, prior and
superior to the lien or charge of the deeds of trust first above mentioned; and
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties
hereto and other valuable consideration, the receipt and sufficiency of which
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 City to consent to obtain
the Grant of Easement for Sanitary Sewer Line Purposes, it is hereby declared,
understood and agreed as follows:
(1) That said Grant of Easement for Sanitary Sewer Line Purposes in favor of
City shall unconditionally be and at all times remain an encumbrance, lien and charge
on the property therein described, prior and superior to the lien or charge of the deeds
of trust first above described.
(2) That City would not consent to Grant of Easement for Sanitary Sewer Line
Purposes 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 deeds of trust first above mentioned to the
Grant of Easement for Sanitary Sewer Line Purposes in favor of the City above referred
to and shall supersede and cancel, but only insofar as would affect the priority between
the easement and deeds of trust hereinbefore specifically described, any prior
agreement as to such subordination including, but not limited, those provisions, if any,
contained in the deeds of trust first above mentioned, which provide for the.
subordination of the lien or charge thereof to another deed or deeds of trust.
DATED:
OWNERS:
Lindsay Ann Smith Fox, trustee of the Sidney Ross Trust dated April 30, 2010
Lindsay Ann Smith Fox, Trustee
MORTGAGEE:
BANKERS FUNDING COMPANY, LLC
By: By:
Its: Its:
ACKNOWLEDGEIVI NT
State of Ca ifprpia }„
County of 4 dL
(Name/Title), personally appeared
who 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), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
CFIF6TAI. MCfJONAL
UMtnlallon N 980140
uYnry Public • CNlfornle
Crnn0e County
ornm. Ex gee Au128, 201
Notary Public Signature Notary Public Seal
State of California }
County of
On
ACKNOWLEDGEMENT
before me, (Name/Title), personally appeared
who 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), or the entity upon behalf of which the person(s) acted, executed the Instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
Notary Public Signature Notary Public Seal
NOW, 1til i<I I (.)Iti hi coi�,itin; irxr[u:ri heir Art?, (litho Po inF ��.a�tir
knob" and othaar vrrlu,rblc unn,Uhrr.ation, fho receipt and t�arilii,ion'.y 4ri whictr
cnnsidoratiorr is hereby acknowledged, and in order to induce f:ity to consent to obtain
the Grant of Easement for Sanitary Sewer Lino Purposes, it is hereby declared,
understood and agreed as follows:
(1) That said Grant of Easement for Sanitary Sewer Line Purposes in favor of
City shall unconditionally be and at all times remain an encumbrance, lien and charge
on the property therein described, prior and superior to the lien or charge of the deeds
of trust first above described.
(2) That City would not consent to Grant of Easement for Sanitary Sewer Line
Purposes 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 deeds of trust first above mentioned to the
Grant of Easement for Sanitary Sewer Line Purposes in favor of the City above referred
to and shall supersede and cancel, but only insofar as would affect the priority between
the easement and deeds of trust hereinbefore specifically described, any prior
agreement as to such subordination including, but not limited, those provisions, if any,
contained in the deeds of trust first above mentioned, which provide for the
subordination of the lien or charge thereof to another deed or deeds of trust,
DATED: t I "f Ls
OWNERS:
Lindsay Ann Smith Fox, trustee of the Sidney Ross Trust dated April 30, 2010
Lindsay Ann Smith Fox, Trustee
MORTGAGEE:
BANKERS FUNDING COMPANY, LLC
By:
Its:
By:
Its:
,Itrj(t q.;
State of Ualiforn! ).,
County of fit ,(iii'ts`.
(Name/Title), personally appeared
who 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), or the entity upon behalf of which the person(s) acted, executed the Instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct,
WITNESS my hand and official seal.
Notary Public Signature
State of California }
County of
On it /( ;; before me,
CF#IS mi. UONAL
CNmrulsnlan R'- i91i0td0
Notary Public - CnIllurnhl
Urnn0n Cnunly
.. ris Auu 2R,20
nhn,6I
Notary Public Seal
ACKNOWLEDGEMENT
h;aYA'r, L :.U` .a C..
1. � 1bt C t0r'40'(Name/Title, personally appeared
1/4lC.tldR ArcAI.'- 4)e47
who proved to me on the basis of satisfactory evidence to be the person(I) whose name(glf Is/ate
subscribe to the within Instrument and acknowledged to me that hshe/t y executed the same In
h}/her/tt� it authorized capacity(iis), and that by Ifis/her/thfrir signature ) on the instrument the
person( , or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY tinder the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
I}dtary Public Signature
TERESA DICICCIO NIEGAND
Comm,' 1973965 TA
NOTARY PUBLIC-CALIFORNIA VI
COUNTY or OMNOE
Mr CORN. EAP. APR. 1, WIG
Notary Public Seal
EXH I k IT "A"
APN: 049-271.07
GRANT OF EASEMENT FOR
SANITARY SEWER LINE PURPOSES
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, Lindsay Ann
Smith Fox, trustee of Sidney Ross Trust dated April 30, 2010, owner of the real property
commonly known as 731 Saint James Road in the City of Newport Beach, County of Orange,
State of California, hereinafter referred to as "OWNER," hereby grant(s) to the CITY OF
NEWPORT BEACH, a California Municipal Corporation and Charter City, hereinafter referred
to as "CITY," a non-exclusive easement in perpetuity for sanitary sewer purposes and the
construction, re -construction, re -location, operation, maintenance and repair of sewer mains,
facilities and appurtenances, in, over, across, under and along said certain real property
described in Exhibit "A" and shown in Exhibit "B" which exhibits are made a part of this
document.
OWNER and CITY agree that OWNER is responsible for constructing a new sewer lateral to
connect the existing home to the CITY's facility. Once the project is complete, OWNER shall
own and maintain said lateral. OWNER and CITY further agree that OWNER will maintain a
double wide gate for CITY's future access to CITY facility.
Dated: = d
Signature
Print Name Lindsay Ann Smith Fox
Trustee
BEING A PORTION OE LOT 16 OF 1 RA! :1 NO. 1218, IN THE GITY OF NE:WPORT BEACH,
COUNTY OF ORANGE, STATE OE GALIFORNIA, AS SHOWN ON THE MAF' FILED IN BOOK
37, PAGES 47 THROUGH 49 INCLUSIVE, OF MISCELLANI UUS MAPS, RI CORDS OF TI III
COUNTY RECORDER OF SAID COON11 Y, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
A STRIP OF LAND 15.00 FEET IN WIDTH, 5.00 FEET LYING NORTHERLY OF AND 10,00
FEET LYING SOUTHERLY OF THE CENTERLINE OF WHICH IS DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID LOT 16; THENCE NORTHERLY
ALONG THE WEST LINE OF SAID LOT 16, NORTH 05°57'10" EAST 153,06 FEET TO THE
TRUE POINT OF BEGINNING; THENCE NORTH 89°45'07" EAST 87.12 FEET TO A POINT ON
THE NORTH LINE OF SAID LOT 16 AND THE POINT OF TERMINATION.
THE SIDELINES OF SAID STRIP ARE TO BE SHORTENED OR LENGTHENED SO AS TO
TERMINATE AT NORTH, EAST AND WEST LINES OF SAID LOT 16.
AS SHOWN ON EXHIBIT "B" ATTACHED HERETO AND MADE A PART HEREOF.
ALDEN &
SSOCIATES
CIVIL ENGINEERS - LAND SURVEYORS - PLANNERS
2552 WHITE ROAD, SUITE B o IRVINE, CA 92614-6274
(949)-660-0110 FAX: 660-0418
EXI-I1BIT "A"
LEGAL DESCRIPTION FOR
A SEWER EASEMENT
W.O. No.1697-369-002
Engr.B.J,W. Chk'd. J.W.
Date: 07/ 1 1 /2012
Sheet 1 of 1
TRUE POINT
OF BEGINNIN
16
POINT OF
COMMENCEMENT
/
w
ts
0
0
z
ALDEN &
SSOCIATES
7. 18°08 3"O
R _ 3,00
N 89°45'07" E 87.12'
148
15' SEWER EASEMENT IN FAVOR OF
THE CITY OF NEWPORT BEACH
- 39°36'00"
R = 68.00'
= 47.00'
CIVIL ENGINEERS - LAND SURVEYORS - PLANNERS
2552 WHITE ROAD, SUITE B •IRVINE, CA 92614-6236
(949) 660-0110 FAX; 660-0418
ROAD
20
co
N
-17
10
SCALE IN FEET
1 inch =20 ft.
LINE TABLE
L1 N 40°07'40" E 2.91'
EXHIBIT "B"
SKETCH TO ACCOMPANY A LEGAL DESCRIPTION
FOR SEWER EASEMENT
W.O. No. 1697-369-002 Date 07/11/2012
Engr. B.J.W. Chk'd. J.W. Sheet 1 of I
20
.ACKNOWLEDGMENT
State of Califor ri
County of Y t s? ,( _..--. } ss.
On fir'( a 2 l,; , before rr(e,
Public, personally appeared
, Notary
,who
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 signatures(s) on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the
instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
ACKNOWLEDGMENT
State of California
County of } ss.
On before me,
TA i Dt1SdALD
mini an 1950145
ry Public - California
Orange County
m. Ex res Au 204,015
(seal)
Public, personally appeared
, Notary
who
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 signatures(s) on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the
instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature (seal)
CERTIFICATE OF ACCEPTANCE
This CERTIFICATE OF ACCEPTANCE is to certify that the interest in real property
conveyed by Grant of Easement for Sanitary Sewer Line Purposes at 731 Saint James
Road from Lindsay Ann Smith Fox, trustee of the Sidney Ross Trust dated April 30,
2010, as Grantor and the City of Newport Beach, a California municipal corporation, as
Grantee, is hereby accepted on ( } .... , 2013, by the undersigned officer on
behalf of the City of Newport Beach pursuant to authority conferred by Resolution No.
1992-82 of the City Council adopted on July 27, 1992. The City consents to the
recordation of said document in the Office of the Recorder of Orange County, State of
California.
APPROVED AS TO FORM:
CITY ATTOf NY'S OFFICE
Date: /
By: ..G
Aaron C. Hard
City Attorney
ATTEST:
Date:
By:
Leilani I. Brown
City Clerk
CITY OF NEWPORT BEACH
A California municipal corporation
Date: ,xi °..., it>
By:
Dave Kiff
City Manager
RECOMMENDED FOR ACCEP. NCE:
PUBLIC WORKS DEPARTMENT
Date.,:
David -A. Webb
Public Works Director
State of California )
County of ORANGE )
On (\ Li! 9; S 6: 42I 2n- t2 before me, 1 s tF'i ,g § Notary
Public, personally appeared DAVE KIFF, who proved to me on the basis of satisfactory
evidence to be the person whose name is subscribed to the within instrument and
acknowledged to me that he executed the same in his authorized capacity(ies), and that by his
signature on the instrument the person, or the entity upon behalf of which the person(s) acted,
executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature
(Seal)
KIM niEFF
Commlaalon • 1967536
Nohry Public - California
Onnpa County
Camm. Eeai Jan,26, 201