Lien Agreement for Public Improvements 1993-0391983RECORDING REQUESTED BY: ) —_E H —T9S' _ E'=;
CITY OF POWAY
WHEN RECORDED RETURN TO:
CITY CLERK
CITY OF POWAY
P. 0. BOX 789
POWAY CA 92074
APN 314 - 020 -05
2 0 ( U DS';` CIAL' RE" RDS
SRN DIED EDUNTY RECO'RDER'S OFFICE
ANNETTE EVANS, 4OUNTY RECORDER
FEES: %.OV
For Recorder's Use Onl
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
James M. and Barbara S. Nuqent
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 /NUGENT
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Principal Obligation Not to Exceed - $5,356.00
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 WETNESS WHEREOF the parties have executed this agreement this �11 day of
1992, at Poway, California.
ATTEST:
Marjor a Wahlsten, City Clerk
1 /NUGENTI
Property Owner:
By: �t
James M. Nugent
Barbara S. Nugent
(signatures must be notarized)
CITY OF POWAY, a Municipal Corporation
By: �-
Don Higginson or
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STATE OF CALIFORNIA } SS.
COUNTY OF L, Y1 LO ( (4,J
On 1 , before me, the under-
signed Notary Public, personally appeared
f� c4 Edo �� % L4 Q
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satisfactory evidence) to be the person's whose
name./, 611-4 subscribed to the within instrument and
acknowledged that ra- executed the same.
SIGNATURE /`
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(SEAL)
OFFICIAL SEAL
SHELLY K. MENIUS
•I? NOTARY PUBLIC CALIFORNIA
P94NCIPAt OFFICE IN
SAN DIEGO COUNTY
•• My Commiss+on Exp. November 9. 1993
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EXHIBIT "A"
314 - 020 -05
PARCEL 1:
20'9
Parcel 4 of Record of Survey Map No. 4134, filed in the office of the County Recorder
of San Diego County, January 7, 1957 as File No. 3105, being a portion of Lot 2 in Block
"A' of Poway, in the County of San Diego, State of California, according to Map thereof
No. 536, filed in the office of the County Recorder of said San Diego County, May 7,
1888.
EXCEPTING THEREFROM 50% of all metals and minerals and all petroleum, natural
gas and other hydrocarbon substances in or under said land as reserved by Gladys M.
Long and recorded July 3, 1951 in book 4156, Page 321 of Official Records.
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