Lien Agreement for Public Improvements 1993-0445360RECORDING REQUESTED BY:
CITY OF POWAY
WHEN RECORDED RETURN TO:
CITY CLERK
CITY OF POWAY )
P. 0. BOX 789 )
POWAY CA 92074 )
APN 316- 063 -06
599
W # 19i3- 044`1360
13 —JUL -1993 09 :07 AM
OFFICIAL RECORDS
SAH DIEGO COUNTY RECORDER'S OFFICE
ANHETTE EVANS, COUNTY RECORDER
FEES: 0.00
it Recorder's Use Onli
Doc. Tax Fee -0-
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
THIS AGREEMENT entered into by and between the CITY OF POWAY, a municipal cor-
poration of the State of California sometimes hereinafter referred to as "City," and
MICHAEL AND JEANNE
sometimes hereinafter referred to as "Property Owner."
WHEREAS, Property Owner and City have agreed to the installation of a
bridge in the right of way of Cobblestone Creek Road in Poway, California;
and
WHEREAS, Property Owner represents that Property Owner is the record owner of
that real property described in Exhibit "A" attached hereto; and
WHEREAS, City has loaned to Property Owner monies equal to the share of cost of
said improvements to be paid by Property Owner; and
WHEREAS, Property Owner has agreed to repay said monies lent to Property Owner by
City and to secure said obligation to repay said loan with this Lien Agreement to be
recorded in Property Owner's chain of title; and
WHEREAS, the installation of said public improvements has been determined to be
in the public interest; and
WHEREAS, the loan of monies to Property Owner required to install said improve-
ments has been determined to be in the public interest.
NOW, THEREFORE, IT IS AGREED between the parties hereto as follows:
Section 1. City shall loan to Property Owner the sum of $7,576.14, which repre-
sents one - sixteenth (1/16) of the total amount of the loan of $121,218.24 in connec-
tion with the installation of a bridge on Cobblestone Creek Road. Property
Owner agrees that the hereinafter described real property does benefit by the
installation of said improvements. Property Owner agrees to repay said loan in
annual installments to be added to the tax bill of that real property hereinafter
described owned by Property Owner. Property Owner agrees to repay said loan in
accordance with the following terms and conditions:
1 /STOCK
• • 600
Principal Obligation Not to Exceed - $7,576.14 ,�•s-
Interest Rate on Unpaid Balance 5% In
Number of Annual Equal Payments
of Principal Plus Accrued Interest - 5
(Payable April 15 of each year)
Section 2. As security for the repayment of said loan, Property Owner does
hereby grant to City a lien upon the hereinafter described property in an amount not
to exceed the principal obligation set forth in Section 1, plus any and all unpaid
interest which may accumulate in the future upon said sum. Said lien shall be
binding upon the Property Owner and Property Owner's heirs, successors, assigns, exe-
cutors, or other transferees in accordance with the terms and conditions hereof.
Notwithstanding the agreement of the parties for the repayment of said sum in annual
installments to be added to Property Owner's tax bill, the entire unpaid sum of said
loan shall be immediately due and payable upon the transfer of ownership of said real
property by Property Owner if said real property has been improved with the construc-
tion of a residence thereon.
Section 3. Upon payment in full of the full amount due hereunder, City shall
promptly upon demand of Property Owner release the lien created hereby.
Section 4. Upon demand of Property Owner, if not in default hereunder, City
shall subordinate this lien to loans not exceeding eighty percent (80 %) of the fair
market value of the property encumbered hereby.
Section 5. This agreement and the covenants contained herein shall be binding
upon and inure to the benefit of the successors, heirs, assigns, executors, and
other transferees of Property Owner, shall run with said real property, shall create
an equitable servitude upon the real property, and shall survive the foreclosure of
any deed of trust of record as of the date of recordation hereof.
Section 6. The legal description of the real property encumbered by the lien
created hereby is set forth in full on Exhibit "A" attached hereto and by this
reference made a part hereof.
IN WITNESS WHEREOF the parties have executed this agreement this /LA� day of
1992, at Poway, California.
I
. I ATTEST:
Marjorie K. Wah sten, City ler
1 /STOCKI
Prop 7 n
By:
By: 7chael Stock
1,41�
anne Stock
(signatures must be notarized)
CITY OF POWAY, �a_�Municipal Corporation
By: `�
"m s L. Bowersox, City Manager
1]
GENERAL ACKNOWLEDGMENT
State of California
SS.
County of
:.:.::.:..::.:.:.:.:..
the /�ay
the undersigned, Notary Public, pers natty appeared
601 CAL-23
19y� before me,
❑ personally known to me
�kproved to me on the basis of satisfactory evidence
OFFICIAL SEA to be the person(s) whose name(s)
subscribed to the
°u 011A M. BRAVAER 7
o NOTMYPUBuc - ceuEORNw within instrument, and acknowledged that T executed it.
au+DECO COUNT.
My COM.E.W' "NO.,t�,tgi WI SS my hand and offi i 1 seal.
S. Notary's Signature
4
1•
EXHIBIT "P."
I'AkCEL A:
PARCEL 1, IN THE COUNTY OF L'AN DIEGO, STATE OF CALIFORNIA,
AS �HOIiN AT PAGE 5712 OF PARCEL tlAP ^, FILED IN THE OFFICE OF THE
COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 24, 1977.
PARCEL B:
A RIGHT OF WAY FOR ROAD A14D PUBLIC UTILITY PURPOSES OVER-A STRIP
OF LAND 40.00 FEET IN WIDTH LVI14G WITHIN THE NORTHEAST QUARTER OF
SECTION 22, THOWFlSHIP 14 SOUTH, PANGE 2 WEST, SAN BERNARDINO
MERIDIAN, IN THE COUNTY OF :;AN DIEGO, STATE OF CALIFORNIA,
ACCORDING TO OFFICIAL PLAT THEREOF, THE CENTER LINE OF SAID STRIP
BEING DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST EASTERLY CORNER OF PARCEL "A" HEREIN ABOVE
DESCRIBED; THENCE NORTH 39 DEGREES 30'15" WEST, 190.21 FEET;
THENCE NORTH 16 DEGREES 00'30" EAST, 61.42 FEET TO 73E BEGINNING
OF A TANGENT 150.00 FOOT RADIUS CURVE, CONCAVE SORTHEASTERLY;
THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL
ANGLE OF 46 DEGREES 41'30" A DISTANCE OF 122.24 FEET; THENCE
TANGENT TO SAID CI "2VE NORTH 62 DEGREES 42'00" EAST, 274.42 FEET;
THENCE NORTH 54 DEGREES 04'00" EAST, 124.49 FEET 10 THE WESTERLY
LINE OF LAND DESCRIBED IN DEED TO GEORGE B. MC FETRIDGE, ET UX.,
RECORDED APRIL 1, 1949 AS DOCU14ENT NO. 28560 IN BOOK 3158, PAGE
492 OF OFFICIAL RECORDS AND BEING A POINT HEREIN DESIGNATED AS
POINT "Y." SAID EASEMENT TO TERMINATE NORTHEASTERLY IN THE WESTERLY
LINE OF SAID MC FETRIDGE'S LAND.
EXCEPTING THEREFROM
HEREINABOVE DESCRIBED.
PARCEL C:
THAT PORTION LYING WI -IIIN PARCEL "A"
A RIGHT OF WAY FOR ROAD PURPOSES OVER A STRIP OF LAND 30.00 FEET
IN WIDTH, LYING WITHIN THE SOUTHEAST QUARTER OF SECTION 15 AND THE
NORTHEAST QUARTER OF SECTION 22, ALL BEING IN TOWNSHIP 14 SOUTH,
RANGE WEST, SAN BENARDINO MERIDIAN, IN THE COUN ^.Y OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF, THE
CENTER LINE OF SAID STRIP BEING DESCRIBED AS FOLLOWS:
BEGINNING AT SAID POINT "X" HEREINABOVE DESCRIBED IN PARCEL 2,
BEING ALSO A POINT ON THE WESTERLY LINE OF LAND DESCRIBED IN DEED
TO GEORGE G. MC FETRIDGE, ET UX, RECORDED APRIL 1, 1959 AS
DOCUMENT NO. 28560 IN BOOK 3158, PAGE 492 OF OFFICIAL RECORDS;
THIAA1 F. NORTH 39 DEGREES 05140" EAST, 214.95 FEET; THENCE NORTH 02
DEGREES 08130" WEST 335.36 FEET TO THE CENTER LINE OF THE
RELOCATION OF COUNTY ROAD SURVEY NO. 987 (KNOW AS POWAY ROAD),
ACCORDING TO PLAT THEREOF ON FILE IN THE OFFICE OF THE COUNTY
ENGINEER OF SAN DIEGO COUNTY, SAID EASEMENT TO TERMINATE
SOUTHWESTERLY IN THE WESTERLY LINE OF SAID MC FETRIDGE'S LAND.
MORE COMMONLY KNOWN AS 12694 COBBLESTONE CREEK ROAD, POWAY, CA
AS PARCEL NUMBER: 316 - 063 -06