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Lien Agreement for Public Improvements 2010-0421319WI RECORDING REQUESTED BY CITY OF POWAY WHEN RECORDED RETURN TO: CITY CLERK CITY OF POWAY P. O. BOX 789 POWAY, CA 92074 D D C# 201 0 -0421 31 9 IIII�III��IIIII 1111111 IIII���� 11 111111 1 N AUG 16, 2010 10:34 AM OFFICIAL RECORDS SAN DIEGO COUNTY RECORDER'S OFFICE DAVID L. BUTLER, COUNTY RECORDER FEES: 31 00 PAGES: 6 (For Recorder's Use Only) APN 321 - 410 -40 LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS THIS AGREEMENT. is entered into by and between the CITY OF POWAY, a municipal corporation of the State of California, sometimes hereinafter referred to as "City," and PHILIP J. BUTZEN, hereinafter referred to as "Property Owner." WHEREAS, Property Owner and City have agreed to the installation of certain water improvements in Budwin Lane 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. NOW, THEREFORE, IT IS AGREED between the parties hereto as follows: Section 1 . City has'loaned to Property Owner the sum equal to Property Owner's cost for water improvements in Budwin Lane. 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 monthly installments, or by annual installments if added to the tax bill of that real property her described owned by Property Owner. Property Owner agrees to repay said loan in accordance with the following terms and conditions: 1 I� -0Sa LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS APN: 321 - 410 -40 Page 2 Principal Obligation Not to Exceed - $30,000.00 TotaIInterest — $ 9,967.40 Credit for Payments made — $ 666.12 Total Amount of Loan Outstanding — $39,301.28 Monthly Installments — $ 333.06 Number of Annual Equal Payments of Principal Plus Accrued Interest — 10 (ten) 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 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, 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. LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS APN: 321 - 410 -40 Page 3 I WITNESS WHEREOF the parties have executed this agreement this � 0 � day L Y , 2010, at Poway, California. of Approved as to Form Office of the City Attorney 0 Lisa A. Foster CITY OF POWA cipal Corporation (Signatures Must be Notarized) M.\engsery \Clay O \Butzen Lien Agreennent.dom B 17D4 Don Higginson, M or CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT .. 03.. �> YSTS.. t�f�oi. NS! HU:).] l5'. �" qfS.: YrtT' ��i! �i. �.: �.. �5�•. tl' L.) Yt? S! t> o. CHw25. 75. �G7> YASCty'(. t)' YiCcU' �'.. of!t?i�tU.:1i:Ti:NiS.tieN.�OS.:. .7 O$:>SG 0 {.:) H State of California County of San Diego On uL zO Z ©/O Date personally appeared before me, Phyllis Shinn, Notary Public / Here Insert Name and Title of the Officer IS SHINN P .non • 1778898 ` ry Public - Colffomla San Diego County VNyIus SNINN Comm ton 0 1778898 Notary Public • California San Diego County Comm• 9 11 Place Notary Seat Above who proved to me on the basis of satisfactory evidence to be the person($) whose namepo is/c* subscribed to the within instrument and acknowledged to me that he /s)fg /#Xy executed the same in his/PAMO(iir authorized capacity *), and that by his/I*r /tl*r signature(k on the instrument the person(�,1, or the entity upon behalf of which the person() acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my han and official se F Signature / Signature of Notary Public 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 Title or Type of Document. Document Date: J t f L f' Z!) r ' () l D Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): • Partner — ❑ Limited ❑ General • Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGHT.THUMHPRINi /C. Number of Pages: Signer's Nei ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGHTTHUMHPRINTI �:OF SiGNEfl mil 02M7 National Notary Associal 9350 be Soto Ave_ PO.B.2A02•Chalswarth, CA 91313- 2402•vmrw NaaonalNOiaryorg Item45907 ReoNer CaIIToIlPmeal BMS76 -6027 :�N11 -- s ,&s_ »s:: -s!» .s :�i: l -WaKav _a�:iu:� is- s�.:.as titc<i ns �sC�s�.vG?ad_nu.T,_'• iu.�is%a• �s_�s!.tis� m�_ :�s:' ass _ State of California County of San Diego O �u�yZ�'ZD /0 before me, Phyllis Shinn, Notary Public DAN, O / Her,. Insert Name antl TQle of the Offirl personally appeared Names) of Signer(a) PHYLLIS SHINN Commission O 1778898 Notary Public - California San Diego County Comm tresNov9 2011 Place Notary Seal Above who proved to me on the basis of sa isfactory evidence to be the personro whose name( is/gksubscribed to the within instrument and acknowledged to me that he /si executed the same in his /f 04 /t*r.authorized capacity(i�k and that by his/�4/tbll signaturl on the instrument the person(, or the entity upon behalf of which the personm,acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my han and official seal. Signature / �c Signature of Notary Public 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 Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual • Corporate Officer— Title(s): • Partner — ❑ Limited ❑ General _ • Attorney in Fact ❑ Trustee lop of thumb here ❑ Guardian or Conservator ❑ Other: Signer is Representing: Number of Pages: Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): _ G Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGHrTHUMBPRINT %.OF SIGNER:'t2+ 02007 Naxonal Notary Maodaiwn- 9350 be Soto Abor, PO, Box 2402 -Chats rth, CA 91313- 2402 -w Naaonalxlotaryorg itemk5907 Reorder Call Tbll-Freal -80 8766827 LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS APN: 321 - 410 -40 Page 4 EXHIBIT "A" Legal Description Parcel 1 of Parcel Map 18994, in the City of Poway, County of San Diego, State of California, according to map thereof filed in the Office of the County Recorder of San Diego County, June 14, 2002.