Lien Agreement for Public Improvements 2008-0079986
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RECORDING REQUESTED BY ) FEB 15 2008 1 46 Pt\1
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~f CITY OF POWAY ) OFFICl.u.L ;:iECOR[I~
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WHEN RECORDED RETURN TO' ) rH.:, 111 no '.1./::' I.'~ ,
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CITY CLERK ) il.~~I~OOOOOO~OO~M~m~
CITY OF POWAY )
POBOX 789 ) _d.
POWAY, CA 92074 ) (For Recorder's Use Only)
APN 323-270-46-00
UEN AGREEMENT FOR PUBUC IMPROVEMENTS Q
DOCUMENTARY TRANSFER TAX $ \
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 Timothy Shawn Regan, referred to as "Property Owner"
WHEREAS, Property Owner and City have agreed to the installation of certain
sewer improvements in the Easement of the 14037 Poway Road 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, 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; and
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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1. .. 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 12935 block of Via Del Toro
Property Owner agrees that the hereinafter described reai 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 - $13,051
Interest Rate on Unpaid Balance - 4 40% 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 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 fuiure 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 fot'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 equitable
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
f to . .
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IN WITNESS WHEREOF the parties have executed this agreement this
II day of rfbr:~ 2008, at Poway, California.
Property Owner(s)'
By' ~
Timothy Shawn Regan
By
(Signature(s) Must be Notarized)
CITY OF POWAY, a Municipal Corporation
By'
ATTEST
L. ~h~' CMC
City Clerk
This is to certify that the interest in real property conveyed by the deed or grant dated
February 11, 2008 from Timothy Shawn Regan 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
recordation thereof by its duly authorized officer
Dated &-/10/0 L- BY~~~
L.iane Shea, CMC, City Clerk
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
c<'~..5('~~,.C('~~~..c<'..c<'~~~~~.c<'~~~..a:''oc~~~AX'~
State of California }
County of ~h '(\ 1)", €frU
On f~btikat~-r It c9lJ~efore me,
D . Here Insert Name and
personally appeared II rYlc!l-J1:J ,5'haUh%i If. ({l" !2
~ me(s) 0 Signer{s}
who proved to me on the basis of satisfactory evidence to
be the person(!\) whose nam~@are subscribed to the
within instrument and acknow~dged to me that
~she/they executed the s~e inWher/their authorized
capacity~, and that by @her/their signatur~ on the
J - - - - - - - - - - - - instrument the person,l4 or the entity upon behalf of
fj. NICOLE MANZANO f which the personlSl acted. executed the instrument.
_ Commission # 1493526 /'-'
~ . -e, Notal)' Public - Calltornia ~ I certify under PENALTY OF PERJURY under the laws
, . San Diego County . . . ,
. MyComm. ExplresJun 1, 2008 of the State of California that the foregoing paragraph IS
true and correct.
Signature
Place Notary Seal Above
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 Docu,ment
Title or Type of Document: ;(JP.Yl ffrfJ,<J177pnc! M ?<<bb<'. :TMjI/NJ;:/,em;?/71'0;
Document Date: 0<' II 083 Number of Pages: 3
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name: Signer's Name:
o Individual 0 Individual
o Corporate Officer - Title(s): 0 Corporate Otlicer - Title(s):
D Partner - D Limited 0 General 0 Partner - D liniited 0 General RIGHTTHUMBPRINT
o Attorney in Fact . 0 Attorney in Fact OF SIGNER
D Trustee Top of thumb here 0 Trustee Top of thumb here
D Guardian or Conservator D Guardian or Conservator
o Other' 0 Other'
Signer Is Representing: Signer Is Representing:
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m:\director\!ien agmt.doc
EXHIBIT "A" TO
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
A.P N. 323-270-46-00
Lot 3 and that portion of Lot "A" lying Westerly of the Northerly prolongation of
that portiori of the Easterly line of said Lot 3, having a bearing of North 0'43'58"
West, all in Whitney's Vineyard Unit No 1, in the City of Poway, County of San
Diego, State of California, according to the Map thereof No 3973, filed in the
Office of the County Recorder of San Diego County, October 1, 1958