Lien Agreement for Public Improvements 1994-0720976 • ea y,((��y4_1994-07209 6
20 DEC—1976 a 1 5,,. 1 0 AN
OFFICIAL RECORDS
1337 SAN DIEGO COUNTY RECORDER'S OFFICE
RECORDING REQUESTED BY: ) GREGORY SMITH, COUNTY RECORDER
FEES: IN
CITY OF POWAY )
WHEN RECORDED RETURN TO: )
CITY CLERK )I
CITY OF POWAY )
P.O. BOX 789 )1\
POWAY, CA 92074 ) ,.n�'
(For Recorder's Use Only)
Doc. Tax Fee - 0 -
APN 321-020-13
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
William John Browne and Barbara Ann Browne, Trustees of the Browne Living
Trust, sometimes hereinafter referred to as "Property Owner. "
WHEREAS, Property Owner and City have agreed to the installation of
road improvements in the right of way of Budwin Lane 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:
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Section 1 . City shall loan to Property Owner the sum equal to Property
Owner's cost for the road improvements on Budwin Lane. 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 loa
in accordance with the following terms and conditions:
Principal Obligation Not to Exceed - $3,690.83
Interest Rate on Unpaid Balance - 4% per annum /6) —A-- g i
Number of Annual Equal Payments 10
of Principal Plus Accrued Interest -
(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.
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1339
IN WITNESS WHEREOF the parties have executed this agreement this �a ��
day of ae To 8 r� , 19 9, at Poway, California.
41LONOW( _ Property 1 ner:
GOFFICIAL SEAL ( //
w= ,; Jeanne Jesmore
4 ,4
7. NOTARY PUBLIC CALIFORNIA 6 By r , / � , ,
4, A SAN DIEGO COUNTY
1 %aN My Comm.Expi=es June 16,19954 �Signa ur- ust be notarized)
• ✓2%c�fj /�L
CITY OF POWAY, a Municipal Corporation
•
By ( I
Don Higginson, M or
ATTEST:
Marjo ie . Wahlsten, City Clerk
liens\budwin
I
1340
STATE OF -441/ /70RAJ/4 )
COUNTY OF-ZAW o _)
ONTOL2L BEFORE mE____ 774e _ch<me4.gi_6.fica). _
PERSONALLY APPEARED COW/19-0-Lt.ii_teRece/Ue.. _?,/W„ILefIK/5/19-Vi_it,__AfgaMPE_,
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 INSRUMENT AND ACKNOWLEDGED TO ME THAT
HE/SHE/THEY EXECUTED THE SAME IN HIS/HER/THEIR
AUTHORIZED CAPACITY( IES) , AND THAT BY HIS/HER/THEIR
SIGNATURE(S) ON THE INSTRUMENT THE PERSON(S) OR
THE ENTITY UPON BEHALF OF WHICH THE PERSON(S) ACTED,
EXECUTED THE INSTRUMENT.
WITNESS MY HAND AND OFFICIAL SEAL.
0,411,
(SIATURE OF NOTARY) . OFFICIAL SEAL
1 Jeanne Jesmore
CAPACITY CLAIMED BY SIGNER :,7itg NOTARY PUBLIC-CALIFORNIA 6
AN DIEGO COUNTY
Ne14;7
My Comm.Expires June 16,19950
INDIVIDUAL(S)
(. ) CORPORATE
OFFICERS
TITLES
( ) PARTNERS
( ) ATTORNEY-IN-FACT
( ) TRUSTEE(S)
( ) SUBSCRIBING WITNESS
( ) GUARDIAN/CONSERVATOR
( ) OTHER
ATTENTION NOTARY: ALTHOUGH THE INFORMATION REQUESTED BELOW IS
OPTIONAL, IT COULD PREVENT FRAUDULENT ATTACHMENT OF THIS
CERTIFICATE TO UNAUTHORIZED DOCUMENT.
TITLE OR TYPE OF DOCUMENT 4/ /0 /9612 EEME/C7/-
NUMBER OF PAGES DATE OF DOCUMENT /0
SIGNER(S)S) OTHER - -
THAN NAMED ABOVE ---- —
THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT ABOVE DESCRIBED
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EXHIBIT A
Parcel 1 :
That portion of Lot 6 (the Northwest Quarter of the Southwest Quarter) of
Section 6, Township 14 South, Range 1 West, San Bernardino Meridian, in the
County of San Diego, State of California, according to the United States
Government Survey approved January 15, 1883, described as follows:
Beginning at the Southwest corner of said Lot 6; thence South 33°45'01" East
along the Southerly line of said Lot a distance of 351 .34 feet; thence North
1°01'03" West, 508.75 feet; thence North 88°16' West, 351 .46 feet to the
Westerly line of said Lot 6; thence South 1°01' East along said Westerly line
511 .72 feet to the point of beginning.