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Lien Agreement for Public Improvements 1993-0445368RECORDING REQUE•D BY: ) 637 CITY OF POWAY WHEN RECORDED RETURN TO: CITY CLERK CITY OF POWAY P. 0. BOX 789 POWAY CA 92074 ( # 1993-0445368 13- UL -1993 09 =07 AM OFFICIAL RECORDS SAN DIEGO COUNTY RECORDER'S OFFICE ANNETTE EVANS, COUNTY RECORDER FEES, 0.00 APN 316 - 071 -05 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 John 8 Sharon Swain 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 /SWAIN Principal Obligation Not to Exceed - Interest Rate on Unpaid Balance Number of Annual Equal Payments of Principal Plus Accrued Interest - (Payable April 15 of each year) s $7,576.14 5% per annum VA 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 Owner: (signatures must be notarized) CITY OF POWAY, a MMunici'p�al Corporation ic am s L. Bowersox, City Manager ATTEST: Marjorie K. Wahlsten,'CityCleDt 1 /SWAINI GENERAL ACKNOWLEDGMENT 639 1�1 ••• ••t • Slate of California ••O1s th�eO ��aY f 19 o "' "'���- ��••••••••������������ C��� -CeCJ —1�Z, before me. County of the d'erssigned Notary Public, personally � appeared i 0 PARCEL 1: EXHIBIT "A" 0 ME That portion of the Northeast Quarter of Section 22, Township 14 South, Range 2 West, San Bernardino Meridian, in the County of San Diego, State of California, according to the United States Government Survey, approved September 11, 1879, described as follows: Commencing at a point on the center line of the County Road as shown on Road Survey No. 987, filed in the Office of the Surveyor of said San Diego County, said point being Engineer's Station 116 plus 26.39 on said center line and being a point on a curve concave Northwesterly whose center bears North 120 46' 26" West, 4,000 feet therefrom; thence South 130 53' 55" East (record South 130 35' 5311) 776.91 feet to the most Southerly corner of land conveyed to George P. McFetridge et ux, by Deed recorded April 1, 1949, in Book 3158, page 492 of Official Records; thence North 640 23' 52" East along Southerly line of said land 340.23 feet to the most Westerly corner of land conveyed to Betty Lee Dyer by Deed recorded August 12, 1963 Series 4, Book 1963 as File No. 14192 of Official Records, thence along the boundary of said land South 730 20' 50" East 91.09 feet and South 110 28' 20" East 130.00 feet to the most Southerly corner of said Dyer's land; thence continuing South 110 28' 20" East to the South line of to Northeast Quarter of the Northeast Quarter of said Section 22, thence Westerly along said Southerly line to the Southeast corner of land conveyed to Viola V. Herriott by Deed recorded March 2, 1956 in Book 5998, page 369 of Official Records; thence along the Easterly line of said Herriott's land, North 130 41' 20" West 186.31 feet to the TRUE POINT OF BEGINNING; thence continuing North 130 41' 20" West 254.13 feet to an intersection with the South line of land described in deed to Wallace G. Fedier et ux, recorded April 28, 1964 as File No. 76314; thence along the Southerly line of said Fedier's land, North 820 52' 20" East (Record - North 820 51' 30" East) 121.08 feet to the beginning of a tangent 130.00 feet radius curve, concave Southwesterly; thence Southeasterly along the arc of said curve, through a central angle of 830 26' 20" a distance of 189.32 feet: thence tangent to said curve, South 130 41' 20" East 125.00 feet to an intersection with a line that bears North 800 00' 00" East from the TRUE POINT OF BEGINNING; thence South 800 00' 00" West 235.87 to the TRUE POINT OF BEGINNING. Reserving therefrom an easement for ingress and egress for road and public uti- lity purposes over, under, along and across the Northerly, Northeasterly and Easterly 20.00 feet. PARCEL 2: A right of way for road and public utility purposes over, under, along and across a 40.00 feet strip of land lying within the Northeast Quarter of the Northeast Quarter of Section 22, Township 14 South, Range 2 West, San Bernardino Meridian, in the County of San Diego, State of California, according to United States Government Survey approved September 11, 1879, the centerline of said 40.00 feet strip being the Easterly, Northeasterly and Northerly boundary of Parcel 1 herein above described. Excepting therefrom that portion lying within Parcel 1 herein above described. PARCEL 3: 0 641 A right of way for road and public utility purposes over and across a strip of land 40.00 feet in width situated within the Northeast Quarter and said Section 22, and a right of way for road purposes over and across a strip of land 30.00 feet in width, situated within the Northeast Quarter of said Section 22 and the Southeast Quarter of Section 15, Township 14 South, Range 2 West, San Bernardino Meridian, the center line of said strips of land being described as follows: Beginning at the most Westerly corner of Parcel 1 hereinabove described, said corner also being the Northeasterly corner of land described in Deed to Holmes S., West, et ux, recorded January 30, 1956 in Book 5956, page 518 of Official Records, said point also being the beginning of said 40.00 foot strip of land, thence along the Northerly line of said West's land South 820 51' 30" West 282.00 feet to the most Westerly corner thereof; thence North 390 30' 15" West 249.75 feet; thence North 160 00' 30" East, 61.42 feet to the beginning of a tangent curve concave Southeasterly and having a radius of 130.00 feet; thence Northeasterly along said curve, through a central angle of 460 41' 3" a distance of 122.24 feet; thence tangent to said curve North 620 42' East, 274.42 feet; thence North 540 04' East 124.49 feet to a point on the Westerly line of land conveyed to George B. McFetridge and wife by Deed dated January 12, 1949, and recorded in Book 3158 page 492 of Official Records, said point being the Southwesterly terminus of the center line of a 30.00 foot ease- ment for road purposed as reserved in said deed to McFetridge and being also the point of beginning of the center line of the herein described 30.00 foot strip of land; thence along the center line of said easement reserved in said deed to McFetridge North 390 05" 40" East, 214.95 feet and North 20 08' 30" West, 335.36 feet to Engineer's Station 118 plus 66.31 in the center line of Road Survey No. 987. The easement and right of way described is Parcel 2 above is for the benefit of and appurtenant to the property described in Parcel 1 above and shall inure to the benefit of and may be used by all persons who may hereafter become the owners of said appurtenant property or any parts or portions thereof.