Lien Agreement for Public Improvements 2005-0710540
RECOROEOAT THE REW- 10530 l) O~ # ,
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CHICAGO,TITLE co, , ;~005-071 CH540
SUBDIVISION Dt:.r- .,
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RECORDING'REQUESTED BY 1
1 I AUC; 18, 2005 2:02 PM
CITY OF POWAY )
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WHEN RECORDED RETURN TO' 1 :_:':',;'1 [I,l.:I_iU COllr'fr I !::[I i-IHll[!::"J nFFII.t
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CITY CLERK ) F",CiE ., 0
CITY OF POWAY ~)) ill~IM~~~II~I~~mOO
POBOX 789 ~\ )
POWAY, CA 92074 q Jtf"') :W05-071 0540
5306D J 3 -{)J3 ----
APN - 275-360-08 No Document Tr.ahsfer Tax Due
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
THIS AGREEMENT entered into by and between the CITY OF POWAY, a
municipal corporation of tlje .SWt~of California sometimes hereinafter referred to as
"City," and Jeb Bakke and Evan E. Bakke, Trustee oUhe Bakke Family Trust hereinafter
referred to as "Property Owner"
WHEREAS; Property Owner and City have agree_clto the installation of certain
"' sewer i.mprovements in the Easement of the 16406 block of Calle Ana in Poway,
California, and
WHEREAS, Property Ownenepresents 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 chainof title; and
WHEREf's, the installation of said public improvements has been determined to
be in the public interesl;'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 for record by Chicago Ti~e
Company as an accommodation .only. Ill1as not
been examined as to its executIOn or as to Its
effect upon tile tine.
. 10531 .
; NOW, THEREFORE, 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 16406 block of Calle Ana. 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 - $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 u'pon the hereinafter described 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
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 equilable
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
. 1.0532 .
;( ~N WITNESS WHEREOF the parties have executed this agreement this
is day of. ~ 2005, at Poway, California.
Property Owner'
By.~/0r)u}e 6~
Bakke nd Evan E. Ba kke
(Signature Must be Notarized)
CITY OF POWAY, a Municipal Corporation
By'
L. Diane Shea, G
City Clerk
This is to certify that the interest in re roperty conveyed by the deed or grant dated
from to the City of Poway, a
political corporation and/or gover!]mental agency ereby accepted by the undersigned
officer or agent on behalf of the City Council pu ~ ntto authority conferred by
Resolution No 34 adopted on January 20, 1981, an e grantee consents to
recordation thereof by its duly authorized officer
Dated: By'
L. Diane Shea, CMC, City Clerk
rn:\directol"\lien a.gml:dor:
. 110533 .
CALIFORNIA. AL:l..PURPOSE ACKNOWLEDGMENT
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State of Calif 0, mia} [
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County of \.. ,(\. ;1'<9 ()
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[ On 3wve. Ol102CeS before me. l
Dale _ . ~ ' Name and T1t1e of Officei 1e.g:. "Jane Doe, Notary Public")
personally appeared .::fee . ~ke Q,(\cl E-vn f"\ F "E:a...ile :
Name(sjofSlgne.r(5)
D'personally known to me
~ proved to me, on tile basis of satisfactory
I evidence
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I _ ..:.. .-." ;";'.... -. ...... -. _ .-. .-. ...... to be. .th~ ,:persC?n@' ~h?se. namf(@t ise .1
[.~ 'SIISlIllE O;'WORREU,f subscnbed to the within Instrument and
[ . '.. Com/IlIIIIOn, .. "'...: "'1.f12..1698 . aCknoWle.,diJea, to me'th,at heIsAe@executed[
,[, i ,..,; ~PubIk:,CaDlOmla I tile same in ~r~ autl10rlzed I
j' ,.SanlllegoC9uilly d capacity@: and tl1at by l1islRer/~
MvComm,ExpiresJun30; signatur~oh the, instrument tile persor@, or
'_~ __. ~ - ~ -- - - -- .- -- . '- the entity"~pon behalf of which the person@
acted, exe~uted'the'instrument. ]
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WITNESS my hand.and official seal. I
I ~Lu .l(t.JvdO} I
f Slgoelureof Nolary Pubhc
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OPTIONAL 1
[ Though,the information below is nor requir~d by'law. it may provevaluab/e to persons"ielying on the document and could prevent
I fraud.uJent remo.Vai and reattachmenr of thisform)o ano-the~ document. )
: Description of Attached Document, I
T1tleOrTypeofDocumentct~Q ~ If p~ ~~'I
Document Date: ~ ~.t. ~ 1:. Number of Pages: 4 .:
Signer(s) Otl1erThan Named Ab6ve: (l'\\ U\/l.e. \ ? C G.~116(\t:L :
I Capacity(ies) Claimed by Signer
I Signer's Name:
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o Individual Top'of thumb here I
[ 0 Corporate Officer.- Title(s): 1
[, 0 Partner - 0 Limited 0 General 1
I, 0 Att.orney-in-Fact ' 1
o Trustee
o Guardian or. Conservator 1
o Olher'
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I' Signer Is Representing:
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@1999National Notary Aswci~iion' 9350 D~'Soi~ Ave' PO' B,?x 2402 '. Chat~worth~ CA 9i313'240~' www.nationalnotary.org Pncd. No_ 5907 Reorder: Call Toll-Free 1-800-876-6827
. 110534 .
EXHIBIT"A" ""[:0
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
A.P N. 275-360-08
LOT 50 OF VALLE VERDE: ESl;ATES UNIT NQ1, IN THE CITY OF POWAY,
- - - , . ".-,'-
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP
THEREOF NO 4185, FILED IN THE OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY, MAY 20,1959