Lien Agreement for Public Improvements 2004-1159391
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111111111111111111111111111111111111111111111111111111111111111111111
RE'CORDING REQUESTED BY
CITY OF pbWAY DEe 09, 2004 11 '00 AM
WHENRECQRDEDRETURN TO' UFFICl.oL F:Ecom,",
iD,N [IIEGu cnUNT'1 RECDR[IEFi", OFFICE
l_iF1EL~I]R\, ..1 :.MITH U:H 11'11' I F:EUJF:[IER
CITYC;LERK ~C?1~ FEE':I [1,00
F'<.:..l1E':, 5
CITY'0F POWAY 11111111111111111111111111111111111111111111111111111111111111111111111111111111
P 0 BOX789
,~<b POWAY, CA 92074
200'4~115939,,1
6?
~~ APN - 275-302-08
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
THIS AGREEMENT entered into by and between the CITY OF POWA't, a
mLJnicjpal corporation of the. State of California sometimes, tiereinafter referred to as
"City,';and Ian .Yee Yang Han hereinafter referred to as "Property Owner"
WHEREAS, Property 0wnerand City have agreed to the in,stallation of certain,
sewer improvements in the,Easement of the 16300 block of Avenida Florencia 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, Properly 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.
,. . .
,
8575
NOW, THEREFORE;,IT IS:AGREED between the'parties hereto as follows:
Section J City shall loan to Property Owner the sum :equal to Property Owner's
cost fOr sewer',improve'merits, in tHe Easement of the 16300' block of Avenida Florencia.
Property Owner agrees that the hereinafter described real property doe~ benefit by the
installation of said improvements, Property Owner'. agrees to repay said loan in annual
.insti,!,1!ments to be added to,th5l tax bill of that r~al'pcop~rty hereinafter descrLbedowned
,by Property Owner Property. Owner agrees torepay"said loan in accordance with the
fOllowing'terms and conditions:
Principal Obligation Notto Exceed - $18,800 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 fl.ssessments)
Section 2, As security 'for' the repayment. of said loan, Property Owner does
hereby,'grant to City a lien upon the hereinafter described, property in an amount,not to
exceed the principal obligaticinset forth in Section I, plus any and all unpaid Interest
which may, accumulate in the fLJ!ure upon said sum. Said, lien, :,;hall be binding upon the
Property Owner and PropertY'Owner's heirs, successors, assigns, .executors, or other
transferees in accordance' \(\lith \he terms and conditions hereof. Notwithstanding the
agreement of the parties 'for the repayment of said sum in annual installment~ to be
added to Property Owner's tax bill, the entire unpaid s'um of said loan, shall be
immediately due and payable up,on the transfer of own~csbip of said real prope,rly 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 amountauehereunder, City shall
promptly upon demand of Property'Owner release the lien"created hereby
Section 4 Upon gerna.@<:l of Property Owner, if not in default hereunder, City
shall subordin'ate this lien to loar:ls 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
l!poD. 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 equit~ble
servitUde upon the real,property, and 'shall survive,th'e '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 apart hereof
,,' . . ~
, 8576
IN WITNESS WHEREOF 'the parties have executed this agreement this
3rd day.of NOYEll1lber-2004, at Poway, California.
Property Owner'
8'-6,1. ~
(Signature Must be Notarized)
CITY OF POWAY, a Municipal Corporation
By'
A TIESI'
e Bunch, Interim City Clerk
This is to certify that the interest in real property conveyed by the deed or grant dated
November 3. 2004 from, Ian Yee Yang Han to the City of Poway, a
political corporation ana/or governmental agency is hereby accepted by the undersigned
officer or agent on beha,lf of the City Council pursuant to authority conferred by
Resolution No 34 aaopted on January 20, 1981, and the grantee consents to
recordation thereof by its duly authorized officer
Dated: Nay. 10, 2004 By'
. -, '. '.
,
857'7
EXHIBIT "A" TO
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
AI?N.275-302"08
LOT 29 OF'VALLE VERDE ESTATES UNIT NO 1, IN'THE CITY OF POWAY,
COUNTYOF SAN DIEGO, STATE OF CALlFORNIA,P,CCORDING TO MAP
THEREOF NO 4185, FILED IN THE-OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY, MAY 20, 1959
. . .
8578
CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT
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State of California }
& tJ' ss,
County of ' 'f) \e3D
On Nov 3. (~;OC}.L_, before me, Ie. Ii c..
Dale Name and Tille of Officer (e,g., Jane oe, Not y Public")
personally appeared '3:aC\~ee.\}a~~
Name(s\ of Signer(s) ~
,
o personally known to me
S proved to me on the basis of satisfactory
1- - - -' - - :.. - - - -' - ~ evidence
. SHERIllE D. WORREU
- . . eom_#1421698
i -4 NoiarvPublic. Cafnomia ~ to be the personi1l whose name.!!>) @are
San DIega County - subscribed to the within instrument and
j ,Mv'"-n.Exp/resJui130.2007f acknowledged to me that IQ/sl'leiiney executed
I ,- - - - - - -- - - -- - -- the same in .6S/hefftneir authorized
, capacity(ie5), and that by JgJ:ll/herltheir
, signatureleTon the instrument the persorlts), or
, the entity upon behalf of which the personfeT
"
, acted, executed the instrument,
,
WITNESS my hand and official seal. ~
~.!~p t(1 }HOOf2 ~
Place Notary Seal Above SlgnatureClf Notary PubliC ~
,
OPTIONAL
Though the information below is notrequired by faw, 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 Attach~ Document ~ Mi
" Title or Type of Do cum en. IQA. ~ (1 (", ~r!/J-e~ ~
Document Date: Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name:
D Individual Top of thumb here
, D Corporate Officer - Tltle(s)
~I D Partner - D L,mlted D General
D Attorney In Fact'
D Trustee -I
r D Guardian or Conservator
I' D Other
"
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@1999Natiol1aINotaryAssociatiol1"9350DeSotoAve..PO. Box 2402" Chalsworth. CA 91313-2402 'WW\V,flaliol1alflol'lry,org Prod. No, 5907 Reorder: Call Toll Free 1 8008766827