Loading...
Lien Agreement for Public Improvements 1993-0391990RECORDING REQUESTED BY: ) 21 22 s 1 9 ;93 �� 0 ' � ig � '_M CITY OF POWAY ) OFFIEIK RECORDS ;SAN DIEGO COUNTY RECORDER' S OFFIE�E WHEN RECORDED RETURN TO: ) ANNETTE EVANS, w' NTY REEOE:OtER FEES 0.00 CITY CLERK ) CITY OF POWAY ) P. 0. BOX 789 ) POWAY CA 92074 ) (For Recorder's Use Only) APN 314 - 020 -57 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 Albert Lee and Natalie Harris Martinez sometimes hereinafter referred to as "Property Owner." WHEREAS, Property Owner and City have agreed to the installation of certain improvements in the right of way of Hilltop Circle 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 equal to Property Owner's cost for connection to the Hilltop Circle sewer main. 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 /LEE 2105 Principal Obligation Not to Exceed - $5061.000 Interest Rate on Unpaid Balance 4% per annum 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 / °` day of I e, e 1992, at Poway, California. Property Owner: By: Albert Lee Mart' ez Natalie Harris Martinez (signatures must be notarized) CITY OF POWAY, a Municipal Corporation By. Don Higginso , ayor ATTEST: V_ 7 Ucx,� I � Marjorie . Wahlsten, City Clerk 1 /MARTIN 1 a 0 CALIFORNIA ALL- VUKPVIC State of (-'✓ 41 f0 RA/ /24- County of ls�+Iij On Jot — /J �� before me, , DATE NAME, TITLE OF OFFICER - E.G., "JANE D E, NOTARY BLIC" personally appeared 4,14'',,4416 h0lele145 NAME(S) OF SIGNER(S) ❑ personally known to me - OR - proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is /are subscribed to the within instrument and ac- knowledged to me that he0mitm/they executed the same in h4e4Y w /their authorized —' capacity(ies), and that by h+s#ter /their OFFICIAL NOTARY SEAL signature(s) on the instrument the person(s), EC -� ELIZABETHLBLOOM or the entity upon behalf of which the Notary Public — California SAN DIEGO COUNTY persons) acted, executed the instrument. Comm. Expires JUL01,1995 WITNESS my hand and official seal. THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED AT RIGHT: Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form. SIGNATURE OF OPTIONAL SECTION CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. INDIVIDUALS ❑ CORPORATE OFFICER(S) TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ❑ ATTORNEY -IN -FACT ❑ TRUSTEE(S) ❑ GUARDIAN /CONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(IES) OPTIONAL SECTION � TITLE OR TYPE OF DOCUMENT -LJ� /stifrlP FhfF�/�D.C' TuiS'�C%G Jit�If'L'��E,�1ff%/'� NUMBER OF PAGES ---4— DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE 4/014 014 ' ©1992 NATIONAL NOTARY ASSOCIATION - 8236 Remmet Ave., P.O. Box 7184 - Canoga Park, CA 91309 -71 t34 Exhibit "A" 02- 116392 LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN DIEGO AND IS DESCRIBED AS FOLLOWS: PARCEL 1: PARCEL 15 OF RECORD OF SURVEY MAP NO. 4134, FILED JANUARY 7, 1957, IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, BEING A PORTION OF LOTS 3 & 4 IN BLOCK "A" OF POWAY, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 536, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY. EXCEPTING THEREFROM THE WESTERLY 151.50 FEET, MEASURED ALONG THE NORTHERLY AND SOUTHERLY LINES THEREOF. PARCEL 2: AN EASEMENT FOR ROAD AND PUBLIC UTILITY PURPOSES OVER ALL OF THOSE CERTAIN STRIPS OF LAND LYING WITHIN THE BOUNDARY OF THE RECORD OF SURVEY MAP NO. 4134, AS FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, JANUARY 7, 1957, AS FILE NO. 3105, BEING PORTIONS OF LOTS 2 TO 5, INCLUSIVE IN BLOCK "A" OF POWAY, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 536, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MAY 7, 1888, AND SHOWN AND DESIGNATED ON SAID RECORD OF SURVEY NO. 4134 AS "60 FOOT EASEMENT RESERVED FOR ROAD ". EXCEPTING FROM PARCEL 2 THAT PORTION LYING WITHIN PARCEL 1 ABOVE DESCRIBED.