Lien Agreement for Public Improvements 1993-0602475r
RECORDING REQUESTED BY:
CITY OF POWAY
WHEN RECORDED RETURN TO:
CITY CLERK
CITY OF POWAY
P. 0. BOX 789
POWAY CA 92074
APN 314 - 020 -01
342 no F 4
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OFFICIAL RECORDS
SAM DIEUO COUNTY RECORDER'S OFFICE
ANNETTE EVANS, COUNTY RECORDER
FEES: 0.00
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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
Carole A. Shearer
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 /SHEARER
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Principal Obligation Not to Exceed - $5,589.00
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 WITNESS WHEREOF the parties have executed this agreement this ,� day of
_oe(! ) ea , 1992, at Poway, California.
ATTEST:
Marjori e Wahlsten, City Clerk
Property Owner: /�
B a � ��✓
.Y
Carole A. Shearer
(signatures must be notarized)
CITY OF POWAY, a Municipal Corporation
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ALL-
OWLEDGMENT
State of
Countv cf
On 4)c,-- f l�7 L before me,_
DATE
344
Kyle Everson, Notary Public
NAME, TITLE OF OFFICER E G 'JANE DOE. NOTARY PUBLIC'
personally appeared
NAME(S) OF SIGNER(S)
(] personally known to me - OR 4LAroved to me on the basis of satisfactory evld nce
to be the person whose name�re
subscribed to the within to ument ar.H ?r-
"Unlowledgea to me that he ssWthey executed
the same in his�jheir authorized
KYLE EVERSON I {
--
IAMM. #956947 z capacity(i s), and that by hi F Aheir
Z ; -1� Notary Public- California signature on the instrument the person(s);_
SAN DIEGO COUNTY
MY Comm. expires FEB 10, 19% or the entity upon bei tali of whicti the person(b)
acted, executed the instrument.
Witness my hand and official seal.
SIGNATURE OF NOTARY
CAPACITY CLAIMED BY SIGNER
INDIVIDUALS)
��❑ CORPORATE
OFFICER(S) _
TITLE(S)
❑ PARTNER(S)
❑ ATTORNEY -IN -FACT
❑ TRUSTEE(S)
❑ SUBSCRIBING WITNESS
❑ GUARDIAN /CONSER- VATOR.
❑ OTHER:
SIGNER IS REPRESENTING:
NAME OF PERSON(S) OR ENTITY(IES)
ATTENTION NOTARY: Although the information requested below is OPTIONAL. It could prevent fraudulent attachment of this certificate to unauthorized document
THIS CERTIFICATE
MUST BE ATTACHED
TO THE DOCUMENT
DESCRIBED AT RIGHT
Title or Type of Document
Number of Pages
Signer(s) Other Than Named Above
Date of Document
O 1991 NATIONAL NOTARY ASSOCIATION - 8236 Rommel Ave. - P.O. Bo: 7184 - Canoos Park CA 913047184
EXHIBIT "A"
314 - 020 -01
PARCEL 1:
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Parcel 8 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 San Diego County, May 7, 1888.
descrip \hWtop.she