HomeMy WebLinkAboutDeed 1465 1465 _ I
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DOC # 2012-0568081
When Recorded Mail To: 11/26/2012 03:32 PM Fees: $33.00
Page 1 of 7
Recorded in Official Records
City of Cathedral City as Housing Successor County of Riverside
to the Redevelopment Agency of the Larry W. Ward
City of Cathedral City Assessor, County Clerk & Recorder
68700 Avenida Lalo Guerrero
Cathedral City, CA 92234 **This document was electronically submitted
to the County of Riverside for recording**
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\ (, ( Receipted by: CARAGON
A P N : 677-372-024-8
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 SECURITY INSTRUMENT.
THIS AGREEMENT, made October 1, 2012 , by Nora A. Andrade owner(s) of the land
hereinafter described and hereinafter referred to as "Owner," and City of Cathedral City as Housing
Successor to the Redevelopment Agency of the City of Cathedral City present owner and holder of
the Covenant first hereinafter described and hereinafter referred to as "Beneficiary";
WITNESSETH
THAT WHEREAS, Nora A. Andrade, did execute a Covenant dated February 21, 2006, to City of '
Cathedral City as Housing Successor to the Redevelopment Agency of the City of Cathedral
City, as trustee, covering
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Lot No. 70 , in the subdivision known as Tract No. 2139 . Shown by map on file, in Book No.
41 , Pages 91 through 96 of Maps, Records of Riverside County, California.
Terms, conditions and provisions of that certain COVENANT RUNNING WITH THE LAND AND
GRANT OF LIEN (PAYABLE ONLY UPON SALE OR TRANSFER), dated February 21, 2006, by
and between Nora A. Andrade and Successor Agency.
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of
One Hundred Eight Thousand Six Hundred Fifty Dollars $108,650.00 in favor of Quicken
Loans Inc., ISAOA, hereinafter referred to as "Lender," payable with interest and upon the terms
and conditions described therein, which deed of trust is to be recorded and
P 0 2 Dc b i l- 5 --,2c 1a / ,,vS — # —20/2 —053Oc S 9
WHEREAS, it is a condition precedent to obtaining said loan that said COVENANT 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
COVENANT first above mentioned and provided that Beneficiary will specifically and
unconditionally subordinate the lien or charge of the COVENANT first above mentioned to the lien
or charge of the deed of trust in favor of Lender; and
When Recorded Mail To:
City of Cathedral City as Housing Successor
to the Redevelopment Agency of the
City of Cathedral City
68700 Avenida Lalo Guerrero
Cathedral City, CA 92234
r e-
AP N: 677 - 372 -024 -8
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 SECURITY INSTRUMENT.
THIS AGREEMENT, made October 1, 2012 , by Nora A. Andrade owner(s) of the land
hereinafter described and hereinafter referred to as "Owner," and City of Cathedral City as Housing
Successor to the Redevelopment Agency of the City of Cathedral City present owner and holder of
the Covenant first hereinafter described and hereinafter referred to as "Beneficiary";
WITNESSETH
THAT WHEREAS, Nora A. Andrade, did execute a Covenant dated February 21, 2006, to City of
Cathedral City as Housing Successor to the Redevelopment Agency of the City of Cathedral
City, as trustee, covering � C EA.)(d'
Lot No. 70 , in the subdivision known as Tract No. 2139 . Shown by map on file, in Book No.
41 , Pages 91 through 96 of Maps, Records of Riverside County, California.
Terms, conditions and provisions of that certain COVENANT RUNNING WITH THE LAND AND
GRANT OF LIEN (PAYABLE ONLY UPON SALE OR TRANSFER), dated February 21, 2006, by
and between Nora A. Andrade and Successor Agency.
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of
One Hundred Eight Thousand Six Hundred Fifty Dollars $108,650.00 in favor of Quicken
Loans Inc., ISAOA, hereinafter referred to as "Lender," payable with interest and upon the terms
and conditions described therein, which deed of trust is to be recorded and
R _eal) 11 -5- 7_ / ' /A # —.05 —t5 7
WHEREAS, it is a condition precedent to obtaining said loan that said COVENANT 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
COVENANT first above mentioned and provided that Beneficiary will specifically and
unconditionally subordinate the lien or charge of the COVENANT first above mentioned to the lien
or charge of the deed of trust in favor of Lender; and
Page 1 of 4
APN : 677- 372 -024 -8
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 COVENANT 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 COVENANT 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 COVENANT 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 and COVENANT herein before
specifically described, any prior agreement as to such subordination including, but not
limited, those provisions, if any, contained in the COVENANT 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 /she /they 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 /she /they intentionally and unconditionally waives, relinquishes and subordinates the lien
or charge the COVENANT 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
(d) An endorsement has been placed upon the note or Agreement secured by the COVENANT
first above mentioned that said COVENANT has by this instrument been subordinated to the
lien or charge of the deed of trust in favor of Lender above referred to.
Page 2 of 4
APN:,677- 372 -024 -8
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 IMPROVEMENT
OF THE LAND.
IT IS RECOMMENDED, THAT PRIOR TO THE EXECUTION OF THIS SUBORDINATION
AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT
THERETO.
6
Tami .•o , Administrative Services Director
I 7/
No •= :cle 7
Quick- Loans Inc. and Mortgage Electronic
Registration Systems, Inc., as nominee for Quicken Loans Inc.
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
State of California
i
County f P-1.01_4 S n C--
On Oc�o8c -g- t > . z . 1--- before me, 1 r1 L . St-f_ ) rr7 �/' � 'NM& ,
personally appeared TAfri t E . s c o %i , 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 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.
"9 I� WITNESS 1 haa. a r • official seal.
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�, JIM L. SHERMAN ../ l 11
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V. n' e of Notary Public
a M_K Commission # 1879166
j: j• Notary Public - California z
!` Riverside County
_ _ II Comm. Exgires Feb 2, 2014 j
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AN:.677- 372 -0248
State of Cal' rnia ,
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County of � \ '
On 0 2- 2a ( 2 -- before rrSej 1 -- - '.S 4 ki> JCTZ P ,
personally appeared ticR. / 6E - - "- -/ t (1..1 or wa . , persona
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 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 persons acted, executed
the instrument.
t" WITNE S y h -,-'d a' ffi.cial seal.
s JIM L. SHERMAN � / �
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All Commission # 1879166
WI Notary Public California z S ig�la • '- of Notary Public
z Riverside County D ! t .�,7 _ Com
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State of'Califernia / rc. -/,Cv1
County of 's
On 0C-1 q r,2o,.L before me, C% y ‘‘c'''-.7" ' ,
personally appeared `.t). A icvJ C .ar1ks , 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 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.
7-- CAI1 GORMAN CARRY WITNESS my hand and official seal.
NOTARY PUBLIC - MICHIGAN
MACOMB COUN J ` _ 0
ACTING IN THE COUNTY OF
DdY COMMISSION EXPIRES OCT 20.2014 - � ture of Notary Pudic
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CALIFORNIA ALL-PURPOSE
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CERTIFICATE OF ACKNOWLEDGMENT „
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State of California
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County of Riverside
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on 10/01/12 before me, Jim L. Sherman, Notary Public
(Here Insert =le lead tide of the officer)
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personally appe.ared Tami E. Scott ,
1 who proved to me on the basis of satisfactory evidence to be the person(s) whose nume(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.
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I certify under PENALTY OF PERJURY under the laws of the Sta r6.64.6.6.6 r .6.466.6.646.6.ai of that th jlki for L e s g: R g m p A ma N graph
i is true and correct,
- California 189166
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Riverside County
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ADDMONA.1, OPTIONAL INFORMATION
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, INSTRUCTIONS FOR COMPLETING THLS FORM
. Ata acbtowledgment completed in Calebrma mut contain settetage eeactb,
DESCRIPTION OF THE ATTACHED DOCUMENT appears abase in the ;Mary section or a warder orimowlestomest from most be
, preper b. completed and attached se that docernmest The oary excepoon ts if a ,
1 docioneter is se he recordal mashie of Caltitsritia In such inscancas, any ahernanhe
1 acknowleatiment whew sa may be primed an sack a dacionen so lent as die
(Thile at description &attached document)
' surbiage doer net empire the nottay so do sontething that to amid fis r a wary in , .
Colubrnia she cort&lity dm autherimet capacity of Ms strum Pleas. check the i ;
. document caralaV for proper notarial warding h is rin 4f required.
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(Title or description of attached document coat:mud) and attac this
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Number of Pge Document Date • State end County information roust be the State mid County where the document
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i sieme(s) peeafly appeared before the notary pubbc dor acknowledgment
• Date of notarization must be the date that the nmi(s) per ce:tally sweated aduch
nowt also be the same dote the acknowledgment is completed
(Additioal imSirmation) • The roomy public must mint Ms or her as= 25 it Appears within Ins or
common followed by a cern= and then your ode (notary publoc),
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• Pant the nante(s) of document simser(s) who ly appen Id the time of '
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. CAPACITY (TAMED BY THE SIGNER 1 • Indicate the correct singular or plural forms by cross* off incorrect farms (i.e.
11 1 0 Individual (s) kamertarai 15 45151 the ourect farms. Failure to correctly sadttrate din
informaton usey heed to reection cideamBEnt recording
11 0 Commute Officer • The notary seal Impression mast be clear and phorographically reprocluratle.
lamonsion must not cereal' le= or lines. If seal inspression smudges, re-seal d a
(ride) sufficiaa area permits, otherwise complete a different acknowledgment form
0 Partner(s) • Signature of the rotary public must match the signorine ea file with the dike of
the county clock.
0 Attraney 0 Addstionl Information is not required but could help to ensure this '
11 O Tmstet(s) acknowkdgment is not misused or attached to a different dommiten. ' •
0 Other o Indicate tide or type &attached document mother ofpages and
I I; et Indicate the capacity claimed by the signer. If the claimed capacity is a ,
corporate officer, indicate the title (i e. CEO, CEO, Secretary).
• Securely attach this &came= to the signed document
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ZOOS Version CAPA v12.10.07 800-873-9565 www NotaryClasses.com
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• CALIFORNIA ALL—PURPOSE
:•
' CERTIFICATE OF ACICNOWLEDGMENT
. -
State of California
: County of Riverside
1 .
,
on 10/02/12 beforeme, Jim L. Sherman, Notary Public
insert Mate and title of the officer)
personally appeared Nora Angelica Andrade
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
1 which the person(s) acted, executed the instrument
I certify under PENALTY OF •"ay. • Y under the laws of the State of California that the foregoing paragraph
is true and correct. p JI M L. SHERMAN
/
. .
Commission # 1879166
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WITIsiESS m , I • ....al , i* cm ,,, .t . ,,,,,% tt .-- „ . Notary Public - California z .
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ADDITIONAL OPTIONAL INFORMATION '..!
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INSTRUCTIONS FOR COMPLETDIG IS FORM
Any aclotowiedgment mortared al Cattfonna JR rat contain thlethellth mac* az
. DESCRIPTION OF THE ATTACHED DOCUMENT Rampart abate i n the notary 4000011 or a :eponym acknoulatment Arm must be '
propertu complated and aaached t a thia document m7 Dab compact: ri y" a ;
: document kW be nnearded cuticle of Calpheider In Meth 01:101tee.:, Mg akernative
acknowledgment 'verbiage au NW be minted on such a document ;a long ar the
(Title or description of artached doctunent)
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I Colt:druid tie (endlung the 17thrhonthed capacity of the Amur). Please check the
i document camtjokite prat o p e it notartal wording and attach t IF i s Arm &4m.
(Title o desaiption Maw:ached document coatimed)
Number of Pages Document Date • state mn County infotroation must be the State and Co' may where the document
. signet(s) personally appearedbefore the matatypithr. fat acknowledgment.
• Date of antsization must be the date that the signexts) perscasally appeared which
. must also be the same date the acknowledpunt is completed.
(Additional information) • The notary public limit print has or ter name as i ppears within his or her
commanion followed by a comma and then your tale (notary public),
* Print the name(s) of document ripar(s) who personally wear at be nine of
.• notarizatica. ,
1 1 CAPACITY CLAIMED BY THE SIGNER • Indicate the correct singular or plural hem by crossing off incorrect fames OA.
n individual (a) hoshe, is am ) or =hag the correct forms. sitar to correctly unkcate this
1 information may lead to 'ejection ardocumeni secouding.
,
0 Cotporate Officer • The liotwy seal imptession taut be clear and photographically reprockaibte
Impression must not cover text or Mes. If seal unriession modem, re-seal if a
1 (Tido sufficient area permits, otherwise complete a different acknowledgment foam
0 Partner(s) • Signature of the notary public mnst math the signature on fde with the office of .
1 the county clerk,
0 Attomey-in-Fact 4, Additional informatics is not ousized but could her to. exam this ;
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O Trildtet(a) acknowledgment n not misused or Waded to a We...0 document
. 0 Other 0 Indicate title retype of attached document number again wad due , ,
4.. Indicate the capacity claimed by be signer. If the claimed capacity is
corporate officer, indicate the title (i.e. CEO, co, Secretary).
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• Sedately attach this document tn the signed domment
MS Version CAPA v12 lo 07 800-873-9565 swerw lioutyClasseskom
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EXHIBIT A - LEGAL DESCRIPTION
Tax Id Number(s): 677 - 372 -024 -8
Land Situated in the City of Cathedral City in the County of Riverside in the State of CA
LOT 70 OF TRACT NO. 2139, IN THE CITY OF CATHEDRAL CITY COUNTY OF RIVERSIDE STATE OF
CALIFORNIA, AS PER MAP RECORDED IN BOOK 41, PAGE(S) 91 THROUGH 96, INCLUSIVE OF MAPS IN
THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
Commonly known as: 67370 Mission Dr, Cathedral City, CA 92234