Lien Agreement for Public Improvements 2005-0710542
10540 .
RECOROEO A"T '!'HE R~Q..OF ,
~CH1CAGO 11"T.~E COJ.1 DOC# ~005-071 0542
SUBDIVISiON DEP".
" \ 1 : i liill!11 ill illlf 11111111111111111111111111111111111111111111111111111
RECORDING REQUESTED BY )
". ,---. . ---
) AlJG 18. 2005 2:02 PM
CITY OF POWAY )
) nFFICI....:..i.. REU I F;LI ,-
WHEN RECORDEDRETURN.TO' ) , ~J l"::E'~i!-1 Cllllr-n I r::ECCIF:[I!::F,"-, IWf-i('!:.
) l_iF:Ei?i'JF:', ,I ',~,,'ilTH. IJIU~,j r I ~:F.UJH[:[r
FE E'~ ~fl nil
CITY CLERK ) t"...:.,~:E = "
CITY OF POWAY l& ) i illiil !I!!! 11111 lIilllllllllillllill llll! 11111 11111 111111111 1111111111111111111
P 0 BOX 789 ~i1
POWAY, CA920760 '1 5~' . ) 2005-0710542
53~ J 3 'U . ~\ -~"., --- .~
No Document Trans'f:er Tax Due
APN - 275'313-07
LIEN AGREEMENTFOR PUBLIC IMPROVEMENIS
THIS AGREEMENT entered ih~o by and between tre CITY0F POVYAY, .a'
municipalcorppration oftlc1e .StafeofCalifornia sometimes hereinafter referred to~s
"City:" and Raymond D La Chance. aridVirginia L. La <;:hance, Husband and wife, as
Community Property lc1ereinaft~neferred to;as "Property Owner"
WHEREAS. PropertY,OVy'i1erand City have .agrE!~dto \,hEl instal,lation of certain
sewer ir:nprovements in 'the Easement of the 12934 block of Via Del Taro in P6way;
cajiiornja;~nd .
WHEREAS. Property Owner represents that Property OWner is the record owner
of that real:propertydescribed in Exhibit "A" attached hereto; and
WI1EREAS, City has l6'aned':to Property Owner rT)ci.l1ies equal to the share of cost
of said improvements to be paid~y Property Owner; and
WI1EREAS, Property gwner ha~ agreed to repay. ~aid monies lent to property
Owner by c;ityand to secur~ said obligation to repay said loan with this Lien Agreement
to be recorded in Property'Owner!s chain of title; and
WH~R.EI\S, 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 instalJ .said
improvements has been'determined',to be,in the public"interest.
Thi~ ',nstrument filed for record by Chicago Title
Company as an accommodationoniy. it has not
be.en,examined as to its execution or as to i1s
effect upon the title. .
. 10541 .
~
NOW, THEREF0RE, 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 the 1.?934 block of Via Del Toro.
Property0wner 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 Notto'Exceed - $27,262
Interest Rate on Unpaid Balance- 3.91% per annum
Number of Annual Equal Payments of-Principal Plus Accrued Interest - Ten (10)
(Payable with Property Tax Assessments)
Section 2. As security for the repayment of said loan, Property Owner does
hereby grant to City a lien upon the hereinafter describe.d property in an amount not to
exceed the principal obligation set forth in SeCtion I, 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
immed[atelydue and payable upon the transfer of ownership of said real property by
Property Owner if said re1j1 property has been improved with the construction of a
residence thereon.
Section 3. Upon payment in full of the full ,amount due .lc1ereunder, City shall
promptly upon demand of Property Owner ~release the lien'created hereby
Section 4 Upon demand of Property O""ner, 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 r~al property, shall create an equitable
servitude UpCln the real property, and shall survive the foreclosure of any deedoftrust of
record as of the date of recordation hereof.
Section 6, The. legal description of the real property encumbered by tbe lien
created hereby is set forth in full on Exhibit "A" attached hereto and by this reference
made a part hereof
. 1051..12 .
.
IN WITNESS WHEREOF the parties have, executed. this agreement this
29th day of June 2005, at Poway,. California.
p~ [).
By'
Virginia . and. aYmond D. LaChance
(Signature Must be Notarized)
CITY OF POWAY, a MuniCipal Corporation
By'
L. Diane Shea, CMC
City Clerk
This is to certify that the interest in .real prop conveyed by the deed or grant dated
f[om ~ to the City of Poway, a
political corporation and/or governmental agency is hereb epted by the undersigned
officer or agent on behalf .of the City Council pursuant to hority conferred by
Resolution No. 34 adopte,d on, Jan~ary 20, 1981 ,and the gra e consents to
recordation thereof by its'duly authorized officer
Dated: By'
L. Diane Shea, CMC, City Clerk
m:\director\lien agmt.doc
. 1051..13 .
L1FORNIA ALL.PURPOSE ACKNOWLEDGMENT
St e of California } ss.
"On (\D\<u() 1
County of
I. On.0l1f\'P '2B .~ID"\ beforeme53\e~~~",~, ~21.Yin~L~,,~,p'r'l ~h);(
1
1 personally appeare~ mo~ tJ . a r..L. V i~; ('\; 11' L. La.Q,Art. '€. 1
Name{s)ofS'{lller(s) I
1 o personally known fa me
;c.. proved to me on the basis of satisfactory
Ii" ::!!:!.= ' f evidence
1 to be the perso'0' whose namatSl' is/~
,) NIIIlIIy P\d)IIc - CaItOrna I subscribed to the within instrument and
I' acknowledged to'me that IleIsheQexecuted 1
1 . ..' ,'ll:Dllllegoeounty = the same in _rlS authorized .1
:. ~",ClIIIIni. &pRs:lln3ll. '
I, >-,,"':"'" -'.-'~'.~:~,- -- -- .:;: -- ~ - capacity~ and that by hisllrer/@
1 signatur on the instrument the person(~or 1
1 the entity upon behalf of which the perso~ ,I
acted, ' executed the instrument. 1
:;;:;;:Zda~
I SignlllureolNotaryPublic 1
I
I I
OPTIONAL
Though the information below is noUequiiea by Jaw,'it may prove valuable to persons:relying on the document and could prevent ]
fraudu/en~ removal and reattachment of this iorm to another dOCument. ]
[ Description of Attached D~cument ~ ~ 1
TitleorTypeOfDocument:~Le.-rL... ~-jrfl. ~ 1
I Document Date: ~ 02-9, c:2L() Number of Pages: I' 'I
Signer(s) Other Than Named.Above: ~ P Ca.j a ~ 1
Capacity(ies) Claimed by Signer ]
1
Signer's Name: '1
o Individual Top of thumb here 1
o Corporate Officer.- 11tle(s): 1
[. o Partner - 0 Limited 0 General
o Attorney-in-Fact
I o Trustee 1
o Guardian or Conservator 'I
o Other: 1
Signer Is Representing:
,
10 1999 National Notary Association' 9350 De Solo Ave" P.O, Box 2402 . Chatsworth, CA 91313.2402' www,nationalnotary.org Prod. No 5907 Reorder:CaIlTolI.Fleel.aoo-876~27
. 10544 .
.
EXHIBIT "A" TO
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
A.P N. 275-313-0.7
LOT 8 OF VALLE VERDE ESTATES UNIT NO 1, IN THE CITY OF POWAY,
COUNTY OF SAN DIEGO, STATE 0FCALlFORN!A"ACCORDING TO MAP
THEREOF NO 4185, FILED IN THE OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY, MAY 20,1959