Lien Agreement for Public Improvements 2005-0685889
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~ RECORDING REQUESTED BY ) AUG 10 2005 4'59 PM ,
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CITY OFPOWAY. " )
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WHENRECoFibE-D RErURN TO' :il",UJIF:'1 ,I ':;t'..1IHI 1~"-llli'l ['I F:i~Ci Ir:[I[f:; ,
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CITY CLERK ) 1:11111 111111111111111111111111111111 111111111111111 11111 II! 11I11I1 1111I IIlillll I
CITY OF POWAY 2o'41~ )
POBOX 789 ) 2005-0685889
POWAY, CA 92074 ) u-orHecoraers useunlYl
APN -lflil&fd~ laxli1 No Document Transfer Tax Due
2.75-380-16
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
THIS AGREEMENT entered into by and between the CITY OF POWAY, a
muniqipal corporation of the State of California sometimes hereinafter referred to as
"City," and .John A, Trimmer arid: 'Barbara A. Trimmer, Husband and wife,as Joint
Tenants, hereinafter referred to as "Property Owner"
WHEREAS, Property O,^,ner and City have agreed to the installation of certain -
sewer improvements in the Easement of the 12823 block of Corte Dorotea in Poway,
California, and
WHEREAS, Property OWner repres\,nts 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
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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, l'lnd
WHEREAS, the loan of monies to Property Owner required to install said
improvements has been determined to be in the public interest.
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26473
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 12934 block of \(ia DelToro,
Properly:Owner agrees tilat 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 h'ereinafter 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 - $36,024
InterestHate on Unpaid Balance - 3,91 % per annum
Number of AnnuaLEqual Payments of Principal Plus Accrued Interest - Ten (10)
(Payable withProp-ertY TaxAssessments)
Section. 2. As security for .the repayment of said loan, Property Owner does
hereby grant 19 City a lien upon the nereinafter described' property in an amount not to
exceed'the principal obligatio_n seHorth in Section Ii pl!-l~ any 'and all unpaid interest
which may,acs;ufnUlate in thmfUtureupon said sum. Said lien shall be binding upon the
Property Owner and Property OWf]er's heirs, successo[s, assigns; executors, or other
transferees in accordance with the. terms and conditions hereot NotwitQstandingthe
agreement of the parties fgr ther,\3payment 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 p,ayableupon 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 upondemandcif Prop13r:tyOwner release the lien. created hereby
Section 4 UP<?r:i 9,ern"md' of Property Owner, if not in default hereunder, City
shall;suborainate,this lien to'loans,not exceeding eighty percent (80%) of the faiffnarket
value of the property ehcumb-ered:hereby
Section 5: This agreemenl,and the covenantsGontained herein shall be binding
upon and inure,'to the oenefit, of' the . successors, heirs, assigns, executors, and other
transfereesiof PropertyO,^,n.e[, s.hall, run with said real propertY,. shall. create an equitabie
ser\titude upon the .real property, and shall survive.the foreclosure of any deed of trustof
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record as of tn-edate,of recordation hereof
Sectibri6, The. legaI.description of the real property encumber,ed by the lien
created herE1by is 'set forth in full on Exhibit "A" attached hereto and by this reference
madea'part hereof
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-. . . 26474
IN WITNESS WHEREOF the ,parties have executed this agreement this
21st daY'ofr July-' 2005, at Poway;. California,
CITY OF POWAY, a Municipal Corporation
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By'
ATTEST
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L iaheShea, CMC '
City Clerk
. I certifY that the interestin real property conveyi;ld by the deed orgranLdated
froin to the City of Poway, a
political corporation and/or g _ ", ental agency is hefeby.accepted by the undersigned
officer or agent bnbehillf of, 'the' ouncil pursuant io authority cpnferred by
Resolution No, ,34 a.dopte.9 oD J?huary 2 ,1, and the grantee consents to
recordation,jhereof by itstdulyauthorized officer
Dated: By'
L. Diahe"Shea, CMC, City Clerk
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26475-
CALlFORNIAALL.PURPOSE ACKNOWLEDGMENT
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State of californl -
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County of f) fl
~ - - - - =~~ - -I ~rSOnallY known to rne
proved to me on the basis of satisfactory
evidence
@ c.r.... ,IM446IU
I ~ l'I~~~g I to be the perso~ whose name@ @
subscribed to the within instrument and
Mvc:omm.__0cI21.2l107t acknowledged to me that oofslTll!~xecuted i
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the same in ~""'6fi:5 authorized
capa_cit~ _a~d that by ~@ I
signa:ti.Jr~ron'the;'instrument the person~ or
"' the entity upon: behalf of which the persontml
acted, executed the instrument.
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OPTIONAL
Though the information belowJs T!o(required byJi3w."it may prove valuable 10 p~(son~ relyingorrthe document and could prevent
fraudulent remava/and reattachment of this form to another document.
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Title or Type of Docume~t: ':~ . ~rnQ.;(tt - . .' V;)\ IL ~
Document Datej,t;j::: I S _ Number of Pages: 5
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I Signer(s) Other ThanNam Above: V\,OY\ Y---
Capacity(ies) Claimed by Signer I
I Signer's Name:
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D Individual Top of thumb here I
D Corporate Officer - Title(s): I
D Partner - D Limited D General
D Attorney-in-Fact
D Trust~e
o Guardian or.'Conservator,
D Other'
Signer Is Representing: 'j
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I!:I 1999 National Notar{ Associatioo' 9350 De Solo Ave.,P,O. BOK 2402' Chat~worth. CA 91313-2402' www,oahooBlnotary.org Pro-d:No.5907 Rt>order:-CaIlToll.Froo j-800.-876.6827
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. . 26476
EXHIBIT "A" TO
LIEN AGREEMENT FOR PUBLIC IMPROVEMENJS
A.P.N 275"380-16
LOT 890F VALLEV-ERDE ESTATES UNIT NO 3, IN THE CITY OF POWAY,
COUN-TY OF SAN DIEG<O, SirATE OF CALIFORNIA, ACCORDING TO MAP
THEREOFNO 4933,FILEDINTHE OFFICE:OFTHE COUNTY RECORDER
OFSAN DIEGO COUNTY, MAY 21,1962,