Lien Agreement for Public Improvements 2005-0710543
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'. 10545 6,. )
RECORDED AnHEFll1Q' gF [) 0 ~lt \r:i. "
CHICAGO TITLECOl'iiR, " 20,b5h071 0543
l', SUSDIVISIONDEPT.
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, RECORDING REQUESTED BY
, )
) AUG 1 S, 2005 2:02 PM
CITY OF POWAY )
) CiFF!Clp,L. RELO~:[I~
WHEN RECORDED RETURN TO' ) \.. .JJ [.iEGCi Cuur.(j I FiUm:::[It.I::": OFFICE
hH[I.iIJF"I.1 ,:~,,'1:TH,r'I]UrJT', F:ECDF:OEF:
) FEE'... ~u,un .
CITY CLERK Vb) F'~h['.J 5
CITY OF POWAY 0~) ! Illl!i lIiil llill 11111 11111 111!/lIiii 1111111111 111111111111111 !II 11I1111II111II1
POBOX 789 Iv'" )
POWAY, CA 9207~3DCjJ) f13 _ u0c9- ) 2005-0710543
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APN - 275-370-12 No Document Transfer Tax Due
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 J Egan and Margaret A. Egan, Husband and Wife, as Joint Tenants
hereinafter referred to as "Property Owner"
WHEREAS, Property Owner and City have agreed to the installation of certain
sewer improvements in the Ease'ment of the 13009 block of Corte Susana 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
improvements has been determined to be in the public interest.
This Instrument filed tor record by Chicago Tlti~
Company as an accommnoallv'-' only 1~i1aS n~
been examined as 10 ill. e.x~ulllJfi 01 d.; to I
effect UJlOl' the ti\le
. 10546 .
NoW, THEBEFORE: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 sewer improvements in 'the Easement of t~,e, 13.009 block of Corte Susana,
Property Owfier $grees that the hereinafter described Teal property does benefit by the
installation of said irnprovemeflts;, Property Owner agrees to .repay said loan in annual
installments to be added to'the tax 'bill of that real property hereinafter described owned
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by Property Owner Property, :Owner agrees to repay said loan in accordance with the
following terms and conditions:
Principal Obligation'Notto Exceed - $20,362
Interest Rate on Unpaid Elalance - 391 % per annum
Nljmber of Annual'Equal Payments of Principal Plus Accrued Interest - Ten (10)
(Payable with Property Tax Assessments)
Section 2" As seclJ~ity f9Jthe repayment of said Iqan, Property Owner does
hereby grant to City a lien upon the hereinafter described Pfoperty in an amount not to
exceed the principal obligation. set forth in Section I, plus any and ali unpaid interest
whichmCly,accumulate, in the future upon said sum, Said lien ,shall be binding upon the
Proj:JertyOwner 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
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shall subordinate this lien'to loans ,not exceeding eighty percent (80%) ofthe 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, assig'ns, 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 asofthe date of recordation hereof
Section.6 The. iegal description of the reai property encumbered by the lien
created hereby. is set forth in full on Exhibit "A" altachedhereto and by this reference
made a part hereof
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,IN WITNESS WI;lEREOF the parties have executed this agreement this
28th day of June 2005, at Poway: California,
Property Owner'
By J:tfJ::t?.
Margaret A. and ill i Egan
(Signature Muste Notarized)
CITY OF POWAY, a Municipal Corporation
By'
L Diane Shea, CMC
City Clerk
This is to certify that theintE)rest jn real prope conveyed by the deed or grant dated
from to the City of Poway, a
politi9<l1 corporation and/or governmental agency ishereb cepted by the undersigned
officer or agent on behalf ,of the City Council pursuant to thority conferred by
Resolution No 34' adopted on January 20, 1981, and the gra e consents to
recordation thereof by its duly authorized officer
Dated: By'
L Diane Shea, CMC, City Clerk
m:\c1irector\lien agmt.doc
10548
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CALiFORNiA ALL;PURPOSE ACKNOWLEDG.~,E~T
State.ofCalifomia' }
32 D' sS,
County ot.... (\ le5b '
On ,3ww .;2t.~ before me,S ' e. .D. ~UtH
Date " ,_ Namn~ Ti~e of Officer (8:g., 'Jane Doe, NOla~ub "
personally. appeared \1J\U\om 3'. Mil. 1'\Ptf{f1'd- A- - I:::.fJl1l)
Nama(s\ofSlgner(s J
I
o personally known fo me
~oved to me on the basis of satisfactory I
J4""' evidence
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, _~ ~~- F . """' ","o..~"~.",m"'-,"@ ;
I j . NDby .'. .N.uc:.".. 'C, a,lI!oiiIIa" , . f, su, bscnbed to the within '2ment and 1
I .. , . ,'1c!nDiegO Couniv - acknowledged 10 me that h_ y executed 1
; .\:_ _ !'~":..~~~~ ~~~aci~:me. i~nd ~r/~ hi~~~~8 I
, . Signature~r1 th~ instrument the persore, or I
the entity upon behalf of which the person@
acted, executed the instrument.
I I
I ;;p:;;:;nd~
Signature of Notary Public
OPTIONAL
I Though the information below is not r~qujred~ylaw. it may prove valuable to persons ie/ying on the document and could prevent
[ fraudulent removal and reattachment of this- form' to another aocument.
Description ofAttached:~ocument ~ ,I
I Title or Type of Documenl: cAlO/f...., ~#' '.URf1./~~
I Document Date: ~ h. 1) r<1r.c:iX)S . . Number of Pages: 1
:' Signer(s) Other Than Named Above: ~() ,.1) f. ~O q-r ~
I, I
Capacity(ies) Claimed by Signer I
I
Signer's Name:
. I
I 0 Individual Top of thumb il8re 'l
o Corporate Officer -Title(s):
o Partner - 0 Limited 0 Generai' I
o Attomey,'in-Fact I
o Trustee
o GuardianorConservator 1
o Other' I
I
Signe'r .Is ,.Representing:
I
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@1999NatlonaINotar;'Assoclatlon.9350DeSoto AVf>., P.o.'Box'2402. Chalswarth; CA 91313-2402' wW'W.nationalnotary,org Prod. NQ, 5907 Reorder: Call Toll-Free 1-1300-876-6827
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EXHIBIT "A" TO
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
A.P N, 275-370-12
LOT 69 OF VALLE VERDE;ESTATES UNIT NO 1, IN THE CITY OF POWAY,
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COUNTY OF SAN DIEGO, ST'ATE.OF CALIFORNIA"ACCORDING TO MAP
THEBEOF NO 4185, FILED IN THE OFFICE OF THE'COUNTY RECORDER
OF SAN DIEGO COUNTY, MAY 20,1959
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