Lien Agreement for Public Improvements 2004-1159392
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HECORDING REQUESTED BY ) '11111111 III 111111111111111 111111111111111 11111 1111111111 I1111 11111111
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CITY OF POWAY ) DEe 09, 2004 11'00 AM
, ) ,_., _ _ OFFiCI,I.l,L RECURD';
WHEN RECORDED RETURN TO' ) I':~~ [<IE I;: u [~:IUNr, F:ECCiFI['ER"" OFFIi'E
) -<F' I~UR I ,I :,I,,'1ITH C[JIINT", F:ErORCrE-p
CITY CLERK ) EL. n,on '
F'I.1.GES - 5
CITY OFPOWAY ) 111111111111111111111111111111111111111111111111111111111 11111 11111 11111 11111111
POBOX" 789 )
POWAY, CA 92074 ijf>>79 )
ytA 2004.~159392
*- 1 APN - 275-303-03
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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 Charl es H. SteWart hereinafter referred to as "Property Owner"
WHEREAS, Property O'wner and City have ag~eEldto the, installation of certain
sewer improvements in theEasement of the 16300 block of Avenida Florencia in Roway,
California; and
WHEREAS; Property OwnerTepresents that Property Owner is the record owner
.". .
of thatreal property described in 'Exhibit "A" attached hereto; and
WHEREAS, City has loaned to PropertyOwner monies equal to the share of cost
of said improvements to be paid By Property Owner; and
WHEREAS, Properly Owner has agreed to rep<:iy,said monies lent to Property
Owner by City and to secure ~aid 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 Illonies to Property 9wner required to install said
improvements has been determined to be ih the public interest
,.. . . .
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8~80
NOW, THEREFORE, IT IS AGREED between the parties hereto as follows:
Section 1 City'shall loan to Property Owner the::s,um equal to Property Owner's
cost forse.wer, irllproyements in the Easement of the: 16300 block of Avenida Florencia,
Property Owner agrees that the hereinafter describ.ed' 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 - $13,800.00
Interest Rate on Unpaid:'Balance - 4 56% per annum
Number of Annual EqUal Payments of'Principal Plus Accrued Interest - Ten (10)
(Payable with Property Tax Assessments)
Section 2. As secLJrity for the repayment of said' loan, Property' Owner does
'hereby -grantto City a lien upon the' hereinafter described property in an amount not to
exceed the principal obli9ationset .forth in Section I, plus any and all unpaid intere!;t
which may accumulate.in the future upon said sum, Said lien shall be binding upon the
Property Owner and PropertY' Owner's heirs, successors; assigns, executors, or other
transferees in accordance with the terms and conditions hereof Notwithstanding the
agreement of the parties. for the repayment of said ,sum 'in annual installments to be
added to Property Owner's' 'tax bill, the entire unpaid sum of said loan Shall be
immediately due and payable upon the transfer of ownership of said real property by
Property Owner if said real property has been improved. with the construction of a
residence thereon.
Section 3, Upon paymEJ.nt in full of the full amoUnt due hereunder, City shall
promptly upon demand of Property Owner release the lien created hereby
Section 4 Upon demand of Property. Owner, if not in default hereunder, City
shall subordinate this lien~to loans not exceeding eighty' percent (80% ) of the fair market
value of the property encumbered hereby
Section 5, This Cigreement:and the covenants ,contained herein shali be. Rinding
upon and inure to the benefit ,of the successors" heirs" assigns, executors, and other
tran$fereesof Property Owner, ,shall run with said real property, shall create anequitaole
servitl!de upon the rea,l :property" an'd shall survive tne foreClosure of any deed oftrust of
record as ofthe date'of recordlilion hereof
Section 6 The legal de;;cription of the real property encumbered by the ,lien
created he-reby is set forth in full on Exhibit "A" attached hereto and by this reference
made a part hereof
f" . .
8581
IN WllNESS V\,IHEREOF the parties have executed this agreement this
2nd day of Novembef2004, at Poway, California,
Property Owner'
BY'_eU 11, ~
Charles H, Stewart
(Signature Must be Notarized)
CITY OF POWAY, a Municipal Corpo tion
By'
ATTEST
This is to certify that the interest in real property conveyed by the deed or grant dated
November 2: 2004 from Charl PS H <;tPWilrt to the City of Poway; a
political corporation and/or governmental agency is hereby' accepted by the undersigned
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
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recordation thereof by its diJly'authorized officer
Dated Nov. 10, 2004 By'
. . . .
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8582
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CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT
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State of California } ss
County of 30.0 '\)\~"
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On JJov 01. ~~, before me, Ie
Date Name and Tille of Officer (e.g..
personally appeared ('-,\la.des It. .3teu.:ur+
Name(s)of Signer(s)
o personally known to me
%-proved to me on the basis of satisfactory
. 5MBllllE 0, WORREll evidence
_ commrnlc- . II 142169J' name~ @ere
. ~ NlIlc . CaIIIomIa to be the person~ whose
. 8arI Dlllgo CounIy subscribed to the within instrument and
I' ..,c.-.....Jun3O, acknowledged to me that 6ij:!sAellioley executed
1
the same in @'Refftfteir authorized
capacity(~), and that by JQ/heHll;eir
signature~ on the instrument the person(.ej, or
1 the entity upon behalf of which the person~)
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1 acted, executed the instrument.
WITNESS my hand and official seal. ~
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Place Notary Seal Above Slgnalure of Notary Public
1 OPTIONAL
Though the information below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this:form to another document.
Description of Attached I?ocum~ ~ ~~.
Title or Type of DocumentCR~ , /f1
Document Date: Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
o Individual .
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o Corporate Officer - Title(s):
o Partner - 0 Limited 0 General
o Attorney in Fact
o Trustee
o Guardian or Conservator
o Other'
I
I Signer Is Representing:
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elm Nalional Nolary Association' 9350 De SolO Ave.. P.O. Box 2402' Chalsworth. CA 91313-2402' www.nationalnotary.org Prod,N05907 Reorder: Call Toll-Free 1.800-878.6827
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. 8'583
EXHIBIT "A" TO
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
A.P N 275-303-03
LOT 11 OF VALLE VERDE ESTATES UNIT NO 1, IN THE CITY OF POWAY,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP
THEREOF NO 4185, FILED'IN THE OFFICE OFTHE COUNTY RECORDER
OF SAN DIEGO COUNTY,MAY 20,1959