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Lien Agreement for Public Improvements 1994-0558578 518 E 11 1994—(WiPpol. ' ® �s—1994 . OFFICIAL RECORDS RECORDING REQUESTED BY: SF NEEZAFEVAI FEES o n n U.UV ) CITY OF POWAY ) • WHEN RECORDED RETURN TO: )) ,J • . CITY CLERK CITY OF POWAY ) • P.O. BOX 789 ) POWAY, CA 92074 ) (For Recorder's Use .Only APN 323-270-25 & 26 LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS THIS AGREEMENT entered into by and between the CITY OF POWAY,, a . municipal corporation of the State of California, sometimes hereinafter referred to as "City, " and Robert E: Francella and Sara Ann Francella, Husband and Wife, As Joint Tenants, sometimes hereinafter referred to as "Property Owner. " WHEREAS, Property Owner and City have agreed to the installation of sewer improvements in the right of way of Golden Way 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 the public improvements has been determined to .be in the public interest; and • WHEREAS, the loan of monies to Property Owner required to install said improvements has been determined to be in the public interest. NOW, THEREFORE, It is agreed between the parties- hereto as follows: • �A' a 519 Section 1. City shall loan to Property Owner the sum equal to Property Owner's cost for the sewer improvements on Golden Way. 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: Principal Obligation. Not to Exceed - $9,016.00 F-C-v Interest Rate on Unpaid Balance - 4% per annum / 40 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, executors, 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 construction 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. 520 • • IN WITNESS WHEREOF the parties have executed this agreement this 070714 day of 6,e,7-066.72 , 193, at Poway, California. Property Owner: By: (signatures 'must be notarized) CITY OF POWAY, a Municipal Corporation BY: ,► Don Higginson, Map"" ATTEST: • Marjorie . Wahlsten, City Clerk • liens\budwin CALIFORNIA ALL.t'UI POSE ACKNOWLEDGMENT No.5193 .11ti .11^•.. � . X11.` .� . � . �'�-� . . , � tti'�'�'�.\-'�'�'\l'``'�.'�-�^t'\"'ti'�"4"`�,ti'"1'ti"'�"�1�~,mama 4 State of OPTIONAL SECTION 4 a� 1 CAPACITY CLAIMED BY SIGNER rCounty of ( in Z L Though statute does not require the Notary to f (/ fill in the data below, doing so may prove f invaluable to persons relying on the document. 4 t�JOn/ c ' —y-� before me,G��L�hc� --,-----....1".=/ L..�. �... ❑ INDIVIDUAL f DATE NAME,TITLE OF OFFIC'•-E.G.,"JAN- bOE,NOTARY PUBLI 1 j Q n� ❑CORPORATE OFFICER(S) f 1 personally appeared,62--Z `1,-"caLa� -/L6t x-e Xl�. , l) f NAME(S)OF SIGNER(S) TITLE(S) 2 personally known to me- 01 : :, -: : • : e •- e_.'_ : _ __ . _ e __ ❑ PARTNER(S) ❑ LIMITED 6 GENERAL 1 to be the person whose named ise3 ❑ 6 f subscribed to the within instrument and ac- ❑ATTORNEY-IN-FACT 6 6 knowledged to me that he/she lexecuted ❑TRUSTEE(S) t lthe same in ' - - authorized ❑GUARDIAN/CONSERVATOR t 1 _ capacity(, and that by ❑OTHER: f l ,E. o..�, OFFICIAL SEAL signatur-,$)on the instrument the perso ., 7 r lI 1 MARIE LOFTON or the entity upon behalf of which the 1 - t Notary Public-California persor(acted, executed the instrument. 4 f :�37- SAN DIEGO COUNTY , t 4 � " My Commission Expires SIGNER IS REPRESENTING: r �)� c4",-;'0,00' Aprll�.T�4 I WITNESS my hand and official seal. NAME OF PERSON(S)OR ENTITY(IES) ff j SIGNATURE OF NOTARY I tOPTIONAL SECTION / ,0 6 THIS CERTIFICATE MUST BE ATTACHED TO TITLE OR TYPE OF DOCUMEN C-l�,tJ £4 -_ ;0 ._ i( THE DOCUMENT DESCRIBED AT RIGHT: / �" . 4 NUMBER OF PAGES-6 DATE OF DOCUMENT /D-, .D-9-3 f r/ Though the data requested here is not required by law, 6 f it could prevent fraudulent reattachment of this form. SIGNER(S)OTHER THAN NAMED ABOVE f ©1992 NATIONAL NOTARY ASSOCIATION•8236 Remmet Ave.,P.O.Box 7184•Canoga Park,CA 91309-7184 522 EXHIBIT "A" PARCEL 1 : THE SOUTHERLY 128.60 FEET OF THE NORTHERLY 673.00 OF THAT PORTION OF THE PORTION OF THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 18, TOWNSHIP 14 SOUTH, RANGE 1 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF, LYING EASTERLY OF A LINE DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE NORTHERLY LINE OF SAID NORTHEAST QUARTER OF THE SOUTHWEST QUARTER, DISTANT THEREON 338.85 FEET WESTERLY FROM THE NORTHEAST CORNER OF SAID NORTHEAST QUARTER OF THE SOUTHWEST QUARTER; THENCE SOUTHERLY IN A STRAIGHT LINE TO A POINT IN THE SOUTHERLY LINE,OF SAID NORTHEAST QUARTER, DISTANT THEREON 338.75 FEET WESTERLY FROM THE SOUTHEAST CORNER OF. SAID NORTHEAST QUARTER OF THE SOUTHWEST QUARTER. EXCEPTING THE WESTERLY 170.00 FEET THEREOF. PARCEL 2: THE WESTERLY 170.00 FEET OF THE SOUTHERLY 128.60 FEET OF THE NORTHERLY 673.00 FEET TO THAT PORTION OF THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF , SECTION 18, TOWNSHIP 14 SOUTH, RANGE 1 WEST, SAN BERNARDINO MERIDIAN IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF, LYING EASTERLY OF A LINE DESCRIBED AS FOLLOWS: BEGINNING AT A POINT IN THE NORTHERLY LINE OF SAID NORTHEAST QUARTER OF THE SOUTHWEST QUARTER, THEREON 338.85 FEET WESTERLY FROM THE NORTHEAST CORNER• OF SAID NORTHEAST, QUARTER OF THE SOUTHWEST QUARTER; THENCE SOUTHERLY IN A STRAIGHT LINE TO A POINT IN THE SOUTHERLY LINE OF SAID NORTHEAST QUARTER, DISTANT THEREON 338.75 FEET WESTERLY FROM THE SOUTHEAST CORNER OF SAID NORTHEAST QUARTER OF THE SOUTHWEST QUARTER.