Lien Agreement for Public Improvements 1993-0445363RECORDING REQUE•D BY:
CITY OF POWAY
WHEN RECORDED RETURN TO:
CITY CLERK
CITY OF POWAY
P. 0. BOX 789
POWAY CA 92074
APN 316- 070 -38
DR 9 1993 - 0445363
613 13 —JUL -1993 09 :07 AM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
ANNETTE EVANS, COJNTY RECORDER
FEES: ".4A
For Recorder's Use Onl
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
GEORGE & PHYLLIS MCFETRIDGE
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 /MCFET
Principal • igation Not to Exceed -
Interest Rate on Unpaid Balance
Number of Annual Equal Payments
of Principal Plus Accrued Interest -
(Payable April 15 of each year)
• $ 7,576.14 614
5% per annum
5
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 17r day of
An>v, 1992, at Poway, California.
Property Owner:
By:_
GeorTe McFetridge
Ph llis McFetridge
(signatures must be notarized)
CITY OF POWAY, a Municipal Corporation
By VU 7 " 7S �1 1C
�`Jamela L. Bowersox_, City Manager
ATTEST: J
Marjorie K. Wahisten, City lerk
1 /MCFETI
• 0 615
State of California
ss.
County of San Diego
On November 17, 1992, before me, Irene Cockcroft, a Notary Public,
personally appeared George McFetridge and Phyllis McFetridge,
personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed
to the within instrument and acknowledged to me that they executed
the same in their authorized capacities, and that by their
signatures on the instrument the persons, or the entity on behalf
of which the persons acted, executed the instrument.
WITNESS my hand and official seal.
Signature OFFICIAL SEAL
IRENE CCCKCR0F1
•. Notary Public-Co fomla
SAN DIEGO COUNTY
My Commission Expires
August 26. 1995
0 0 616
EXHIBIT "A"
LEGAL
VESTING: THE GEORGE B. AND PHYLLIS D. MC FETRIDGE TRUST
APN: 316 - 070 -38 AND 24
TEMPORARY CONSTRUCTION EASEMENT:
THAT PORTION OF LAND OF THE SOUTHEAST QUARTER OF THE SOUTHEAST
QUARTER OF SECTION 15 AND THE NORTHEAST QUARTER OF THE NORTHEAST
QUARTER OF SECTION 22, OF TOWNSHIP 14 SOUTH, RANGE 2 WEST,IN THE
CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, DEEDED TO
GEORGE B. MC FETRIDGE ET. UX., APRIL 1, 1949 IN BOOK 3158 PAGE 492
OF OFFICIAL RECORDS OF SAID COUNTY, THAT PORTION OF SAID LAND BEING
EASTERLY OF A LINE PARALLEL AND 25.00 FEET WESTERLY OF THE
FOLLOWING DESCRIBED LINE:
BEGINNING AT A POINT ON THE CENTERLINE OF COUNTY ROAD SURVEY NO.
987 ACCORDING TO MAP THEREOF FILED IN THE OFFICE OF THE COUNTY
SURVEYOR OF SAN DIEGO COUNTY SAID POINT BEING COUNTY ENGINEERS'
STATION 118 +66.39, THENCE ALONG THE CENTERLINE OF A 30.00 FOOT WIDE
PUBLIC ROAD EASEMENT AS SHOWN PER RECORD OF SURVEY 2253 ACCORDING
TO MAP THEREOF ON FILE WITH SAID COUNTY SURVEYOR SOUTH 02 010137"
EAST 335.36 FEET TO A POINT OF TERMINUS.
EXCEPTING THEREFROM THAT PORTION WITHIN THE PUBLIC RIGHT -OF -WAY
LYING 60.00 FEET SOUTHERLY OF THE CENTERLINE OF SAID ROAD SURVEY
AND ALSO EXCEPTING THAT PORTION SOUTHERLY AND EASTERLY OF THE
FOLLOWING DESCRIBED LINE:
BEGINNING AT SAID POINT OF TERMINUS THENCE NORTH 87 049'23" EAST
25.00; THENCE NORTH 02 °10'37" WEST 128.15 FEET; THENCE NORTH
68 059'05" EAST 61.24 FEET TO THE EASTERLY LINE OF SAID LAND DEEDED
TO GEORGE B. MC FETRIDGE, ET.UX.
SAID TEMPORARY EASEMENT SHALL EXPIRE WITHIN 90 DAYS AFTER THE
FILING OF NOTICE OF COMPLETION OF CONSTRUCTION OF COBBLESTONE CREEK
ROAD IMPROVEMENTS.
ATTACHED HERETO AND MADE A PART OF THIS LEGAL DESCRIPTION IS A PLAT
LABELED EXHIBIT "B ".
THIS LEGAL DESCRIPTION AND PLAT WERE PREPARED BY ME OR UNDER MY
DIRECTION.
9 9 92
CECIL E. RYALS
P.L.S. 399tl
i 1 No. 3997
Exp G