Grant Deed 1992-0454515
RL.CUR~ING RE-UUE-<"'l- D [l"
. CHICAGO ,;::lTLE CDMPANY
tVMAIL 1"~X STATEMENT Tu
CITY OF rowAY
P,O, DRAWER 1466
EL CAJON, CA 92022
WHEN RECORDED rv'AIL TO
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H~.CITY OF roWAY
uw P,O, DRAWER 1466
,,,.,,, EL CAJON CA 92022
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988
DOC n 1992-0454515
21-JUL-1992 11=29 AM
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OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
ANHETTE EVANS, COUHTY RECORDER
RF: 6.00 FFES:
AF: 7.00 AFHF
GRANiccDiEIi;~
309.00
ORDER NO 803S19A-S1
ESCROW NO 8035 19A-24
Furnished by Terra Title Company
The undersigned grantor(s) declare(s):
Documentary transfer tax is $ ?7S nn
( X ) Computed on full value of property conveyed, or
( ) Computed on full value less value of liens and encumbrances remaining at time of sale,
( ) Unincorporated area (X ) City of Poway
Tax Parcel No, 314-670-71
North American Trust Company, AS TRUSTEE SUCCESSOR TO THE BANK OF SAN DIEIJO, TRUSTEE
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FOR A VALUABLE CONSIDERATION,
MUNICIPAL WATER DISTRICT
does
HEREBY GRANT TO
CITY OF rowAY, FORMERLY roWAY
the real property in the County of
San Diego
, State of California, described as:
Parcel 2 of Parcel Map No. 16904
mf California, filed in the office
July 16, 1992
in the City of Poway, County of San Diego, state
of the County Recorder of San Diego County,
Reserving therefrom Exhibit "A", attached hereto,
Dated:
April 13, 1992
NORI'H AMERICAN TRUST lTlMPANY, TRllSTIY.
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STAnOFCALlFOlNIA }
COUNTY OF Ban Diego IS. BY:
Onthi. 26th darof May .i.the,..,
1 992 . ~fore me. the undersianed. a NOlary Public in
and (or said Counly.."d Sllle. personally appeared BY.
Dan Agu~lar .
personally known
to me (or protved !o,J'l).e.on the baSIS of SllIsfaclory evidence) 10 be the
Trus UI:I:~Cer
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; -.' - Notary Pubic-California
J ~..' SANDIEGOCOUNTY -
" My comm. expir.. MAR 24.1998 I
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personally known 10 me (or proved 10 me on the basis of Sltisfltlory
.vidence) 10 be * * * * * * * * * * * * * * * * * * * * *
Secretary of the corporalion thl' uecuted Ihe within Instrument. and
Icknowledled to me lhal such corporation executed lhe within inslru-
menl pursuant to i by-laws or I resolution of its board of directors.
Katrina M. Tan e
Name (Trped or P".ted)
Notary Public in and for said Count)' and SlIle
F 2.17 R, '1112
(This area for ofl\cia' notarial sean
989
CERTIFICATE OF ACCEPTANCE
I, MARJORIE K, WAHLSTEN, as City Clerk, and agent
for CITY OF POWAY, make the following certification
on its behalf:
This is to certify that the interest in real property
conveyed by the deed or grant dated April 13, 1992
from North American Trust Company
to the CITY OF POWAY, a political corporation and/or
governmental agency is hereby accepted by the under-
signed officer or agent on behalf of the CITY COUNCIL
pursuant to authority conferred by RESOLUTION NO. 34,
adopted on January 20, 1981, and the grantee consents
to recordation thereof by its duly authorized officer
or agent.
Dated:
July 20,1992
CITY OF POWAY
By:
City
(DPS 3/82)
EXHIB'fT "A"
990
The Grantor herein reserves a residual right to share equally (50%-50%) in any
financial gain received by the City from the subsequent sale, lease, or other
profit-making development of the property made by, sponsored by, or allowed by
the City. In calculating 'gain", the City shall have a zero cost basis for the
acquisition of said property, Generally accepted accounting practices shall be
applied in calculating any such "gain'. In the event that the City retains said
lots but devotes said lots or any portion thereof to a purpose other than open
space, landscaping or ~treet pucposes, each of the parties shall appoint -,n MAl
appraiser to establish the then fair market value of the property to be so used
as though it were being acquired by eminent domain for such use. If the
opinions of the two appraisers vary from each other by more than ten per cent
(10%), the two appraisers shall jointly appoint a third MAl appraiser to mediate
the appraisal difference, The opinion of the mediator/appraiser shall be final
and binding on the parties, and the City shall pay to the Plaintiffs fifty per
cent (50%) of said final opinion. In the event the difference in appraised
values is less thatn 10%, the City shall pay the Plaintiffs fifty percent (50%)
of the arithmatic average of the two appraisals.