Lien Agreement for Public Improvements 1993-0445367RECORDING REQUESTED BY: ) s � 1993- a09 :07
33 1 JUL -1993 09 :07 AM
CITY OF POWAY ) OFFICIAL RECORDS
WHEN RECORDED RETURN TO: )
SAN DIEGO COUNTY RECORDER'S OFFICE
CITY CLERK AHNETTE EUAN5+ FEES RECORDER 0.00
CITY OF POWAY )
P. 0. BOX 789 )
POWAY CA 92074 )
(For Recorder's Use Only)
Doc Tax Fee -0-
APN 316 - 071 -04
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
David 8 Sheila Farmer
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 /FARMER
e
w
Principa0igation 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
5% per annum
5
l�e_
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 day of
1992, at Poway, California.
Property Qwner:
By / //I Y_d
n
ua�vl _a Farmer
By: �LhI I.Co�l e- ,V gwi�
heila Farmer
(signatures must be notarized)
CITY OF POWAY, a Municipal Corporation
By: C
ATTEST:
r.:es L. Bowersox, City Manager
Marjorie K. Wahlsten erk
1 /FARM1
N
GENERAL ACKNOWLEDGMENT
State of California l
��/ 1
County of kb —e .l SS.
so
35
CAL-23
- - - - -- ...............................
On is the 110 A ay of '�K � 19 y�before me.
the ndersigned Notary Public, personally appeared
.1
r•
❑ personally known to me
ER proved to me on the basis of satisfactory evidence
OFFICIAL SEAL
O.NI1.4M. RRAWNER
to be the person(s) whose names) subscribed to the
NO cA VEGCGAlIEOpnu
�AN DIEGO rOJNiY
within instrument, and acknowledged that `Qxecuted it.
g
E.01111Nw. 16.1992
WIT �E�SyS may haand_ and official seal.
..................................................................................
Notary's Signature
...............................
.1
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N
ATTACHMENT "A"
N
636
r4 .PARCM 1:
r 72nat portion of the Northeast Quarter of Section 22• 'lbwc>ship 14 South, Raga 2
t, San B mnardirn Meridian, in the City of Fburay, County of San Diego, Stabs
Wes
of California, according to United States Goverm8nt Survey, approved
11, 1879, described as follows:
Co�mencing at a paint in the Center line of the County Road as 6hown on Road
Survey No. 987, filed in the Office of the Surveyor of said San Diego OanntY,
saki po.{nt being E2nginre''a State 116 Plus 26.39 an said center line and being
a point on a save concave N,orCwest erly wtcee meter bears North 12' 46' 26'
West, 4,000 feet therefrcre; thence 13-53'55" my� �� R. Mc 35 53 ") land
775.91 feet to the Most Southerly 1 1, 1949, in Sock 3158, Page 492 of
Fetridge, et uz, by Deed rerx*rded Southerly line of said along
official
urt 340.23 feet to the �t Westerly Smyrner of land conveyed to Betty lose Dyer
by peed recorded August 12, 1963 Series 4, Book 1963 as File No. 141912 of
Official Pewrds, thence along the boundarf of said land South 73020'50" Fast
91.09 feet d South 11'28'20" East
a 11'28'20" Fast to the South l� of
said Dyer's lard: thsnoe continuing of said Sectdnn 22; theca
the Northeast Quarter of the 1=UIB8 �� 223.67
Westerly along said Sout�lY lif land aoI eyeddistant Viola E Vim. Easterly thereon zeoardrd
feet fMI the cutheast
Mazda 2, 1956 in Bock 5998, Page 369 of Official Peaotcl9, �d 1 being Line to
74416 POINT OF BMpNIIG; theme conntiruing Westerly alorng
said last rtrrntloned Southeast corner.; thane along the Easterly l.1ne of said
said lag's lend nFNd S utheas20" West 186.31 feet to the Souttrrast Corner of land
described in Deed to Jon W. Swain and Wife recorded July 16, a So as Dormant
No. 119478 of. Of Records of said County,* thence along the Southerly ��
of said last mentioned land, North 80100100" East 235.87 feet: thence South
13'41'20" East 52.92 feet and South 7'19'20" East 180.83 feet to
the T4i116 POLNr
OF BrUD44ING.
PARCEL 2:
An easement for ingress and egress fc road and publIC utility prrpoees, 40.00
feet in Width, over, under, along and across that pion of
South, Rase 2 bleat.
Quar*ar of t'a Northeast Quarter' of Section 22, Sb�nip
San Pe¢rnardlno Base and Meridian, according to lknited States Gbverrnrent Survey,
the canter 1.i3je of said strip being described as follows:
in
C m ,nclnkg at the No[th+estarly corner of Parcel hexalnabove described being th s
Southwesterly corner of land described in Parcel 1 in Deed to Jon W. Swain, et
recorded July 16, 1968, as Instrument No. 119478; thence along the Westerly
line of said land North 13'41120" West. 254.13 feat to the Northwesterly aaarnar
of said Parcel 1 of Swain's lard and being the ']431E POD OF BEGINNING; thane
1 along the boundary of said Parcel 1 of Swain's land as follows:
t North 82'52'20" East, 121.06 feet to the beginning of a tmVe"t 130.00 foot
(Continued)