93-025b Kilian Family property from housing assistance - Subordination agreement (x-ref: 80-064)RECORDING REQUESTED BY
First American Title Company
AND WHEN RECORDED MAIL TO:
City of Cupertino
10300 Torre Ave.
Cupertino, CA 95014-3255
DOCUMENT: 17935988 Pages 5
II I I I II I Fees ... 19.00
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AMT PAID e
BRENDA DAVIS RDE # 011
SANTA CLARA COUNTY RECORDER 8/05/2004
Recorded at the request of 8:00 AM
First American Title Company
Space Above This Line for Recorder's Use Only
A.P.N.: 356-02-048 File No.: 4408-1446643 (SR)
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 Twenty-second day of July, 2004, by
Charles Thomas Kilian and Susan Hoge Kilian, Trustees of the 1999 Kilian Family Trust
Owner of the land hereinafter described and hereinafter referred to as "Owner", and
City of Cupertino, a California Corporation
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 08/01/99 to Old Republic Title Company, a
California Corporation, as Trustee, covering:
to secure a Note in the sum of $686,500.00, dated 08/01/99, in favor of City of Cupertino, a California
Corporation, which Deed of Trust was recorded 8/13/99 in Book , Page , or Instrument No. 1999-14939099, of
said County; and
WHEREAS, Owner as executed, or is about to execute, a Deed of Trust and Note in the sum -of $330,000.00,
dated in favor of Caw"1 mo �G � f- I t " ;`hereinafter
referred to as "Lender", payable with interest and upon the terms and conditions describe herein, 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
Page 1 of 4
A.P.N.: 356-02-048 Subordination Agreement - continued File No.: 4408-
1446643(SR)
Date: July 22, 2004
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
(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)
Page 2 of 4
A.P.N.: 356-02-048 Subordination Agreement - continued File No.: 4408-
1446643(SR)
Date: July 22, 2004
ITIS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES
CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
(CLTA SUBORDINATION FORM "A")
OWNER:
t
Charles Kilian
STATE OF
COUNTY OF '5 llfA 6 v
On 7 lD
Sue Kilian
}
}ss.
}
re me,
personally appeared , personally
known to me (or proved to me on the basis of satisfactory evidence) to be t e 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 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:
This area for officiai
notarial seal
SARAH WELD �
COMM. # 7276967
Q g NOTARY PUBLIC -CALIFORNIA D
SANTA CRUZ COUNTY 0
a COMM. EXP. SEPT. 8, 20G4 -
Notary Name:Notary Phone:
Notary Registration Number: County of Principal Place of Business:
BENEFICIARY:
Cityof ertino, a California Corporation
By, l
Page 3 of 4
A.P.N.: 356-02-048 Subordination Agreement - continued File No.: 4408-
1446643(SR)
Date: July 22, 2004
STATE OF (- )SS
COUNTY OF )
before
personally appeared
personally known to me (M
pfoved to e -o„ trn ncg) to be the person(4whose name( ris/af-e-subscribed to the
within instrument and acknowledged to me that he/s+iefthey executed the same in his/her-ffheir authorized
capacity(ies-), and that by his/her, air signature(s) on the instrument the person(o, or the entity upon behalf of
which the personkz) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
My Commission Expires:
-21-01
This area for official
notarial seal
GRACE ECHNRDt
C wwnb6on 01 395W
N*Y . CaW*mla
lana clan County
MyConwn. E�MwlibZl, ZOD
Notary Name: G Ir" ) � OCf Notary Phone: Y6 � — 7- -- 3,,-)- °2.7
Notary Registration Number: 13 q 5 --lo 06 County of Principal Place of Business Cara,
Page 4 of 4
LEGAL DESCRIPTION
THE LAND REFERRED TO IN THIS REPORT IS SITUATED IN THE STATE OF California,
COUNTY OF SANTA CLARA CITY OF CUPERTINO, AND DESCRIBED AS FOLLOWS:
LOT 17, AS DELINEATED UPON THAT CERTAIN MAP ENTITLED, "TRACT NO. 5691
RANCHO DEEP CLIFF UNIT NO. 1," FILED FOR RECORD IN THE OFFICE OF THE
RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA ON APRIL 22,
1976 IN BOOK 370 OF MAPS, AT PAGES 42 AND 43, AS CORRECTED BY CERTIFICATE OF
CORRECTION RECORDED JULY 13, 1976 IN BOOK C137 OFFICIAL RECORDS, PAGE 44.
ASSESSOR'S
PARCEL 356-02-048
NUMBER: