Lien Agreement for Public Improvements 2010-0559097ri
D O C # 2010-0559097
11 1111111111111 1 1111111111111111111111111111111111111111111111 ININ
RECORDING REQUESTED BY ) OCT 18, 2010 3:59 PM
CITY OF POWAY ) OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
DAVID L. BUTLER, COUNTY RECORDER
WHEN RECORDED RETURN TO: ) FEES 000
PACES: S
CITY CLERK
CITY OF POWAY /� ) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
P. O. BOX 789 C u
POWAY, CA 92074 \a (For Recorder's Use Only)
APN 275 - 380 -19
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 Michael A. Hoffman and Mary P. Hoffman, Husband and Wife, as joint
tenants, hereinafter referred to as "Property Owner."
WHEREAS, Property Owner and City have agreed to the installation of certain
water and sewer improvements in the Easement of the 12829 block of Corte Dorotea,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.
10 -110.
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 at 12829 Corte Dorotea. 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 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 - $14,595
Interest Rate on Unpaid Balance — 3.91 % 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 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 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 (90 %) 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 t_rusFof
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.
IN WITNESS WHEREOF the parties have executed this agreement this
day of Otb)V) 2010, at Poway, California.
Property Owner(s):
Michael A Hoffman l
Mary P. Hof man
(Signature(s) Must be Notarized)
CITY OF POWAY, a Municipal Corporation
By(;�
City Ma ager
CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT
State of California
County of San )jeg
On 1 CO/ �D ID before me, -Sh ((jq ty pi ihlir
Del. / PI IPA n ere nurt�me efitle of PV 74 ,, ' �/�� "
personally appeared !U(��(6b 4ICt-yi l'Y(�trV apl Off( �t� Pt24ak l/Lf"/dl
' Namn(sl .1 Slgnor(s)
Bi ELLOf COLUNB
CotnmMW i 1787479
140tatr Publle'- Caufartlfa
BOIA7rtOrt8�litCeotd�ll
who proved to me on the basis of satisfactory evidence to
be the persorowhose namEoQare subscribed to the
within I trument and acknowledged to me that
he=e/ h executed the same in his/her/MiRDauthorized
capacity ee , and that b WVher eir signature&on the
instrument the person, or the entity upon behalf of
which the person(&cted, executed the instrument.
certify under PENALTY OF PERJURY under the laws
of the State of California that the foregoing paragraph is
true and correct.
Place Notary Seal Move
WITNESS my hand and If ial seal_
Signalure
Slg atwe J a P ric
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 Doc
Title or Type of Document: LI G o � t - �V�
Document Date: ) C)/(0 I 2.0/o Number of Pages: +
Signer(s) Other Than Named Above. fzL
Capacity(ies) Claimed by Signer(s)
Signer's Name: Signer's Name:
❑ Individual ❑ Individual
• Corporate Officer —Title(s)!
• Partner — ❑ Limited ❑ General
❑ Attorney in Fact
❑ Trustee
• Guardian or Conservator
• Other;
Signet Is Representing:
RIGHTTHUrd6PRINT
LL• OF SIGNER,?`-
0
❑ Corporate Officer — Tdle(s):
❑ Partner — ❑ Limited ❑ General
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
IPI gIGHLTHU1dEPRINL
OF SIGNER;P771',
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EXHIBIT "A" TO
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
A.P.N. 275-380-19
LOT 92 OF VALLE VERDE ESTATES UNIT NO. 3, IN THE CITY OF POWAY,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP
THEREOF NO, 4933, FILED IN THE OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY, MAY 21,1962.