Lien Agreement for Public Improvements 1988-132360REQUESTED BY AND WHEN RECORDED,
RETURN TO:
CITY CLERKS OFFIG9
CITY OF POWAY. '
P O. BOX 789
POWAY, CA 92064 '
567
APN 277 - 130 -11
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
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132360
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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 Morriss$ Alice Spier, 18107 0ld Coach Road,
Poway, CA 92064
sometimes hereinafter referred to as "Property Owner."
WHEREAS, Property Owner and City have agreed to the installation of
certain public improvements in the right of way of Old Coach 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, Property Owner and City have agreed to share the costs of said
improvements; and
WHEREAS, City has loaned to Property Owners 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 shall loan to Property Owner the sum equal to Property
Owner's share of cost to be established by Resolution of the City Council
of the City of Poway in connection with the installation of improvements to
Old Coach Road. 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:
#NO FEE
33
vv 568
Principal Obligation Not to Exceed: $3,5124.0
Interest Rate on Unpaid Balance: 5 % per annum
Number of Annual Equal Payments of Principal
Plus Accured Interest: nine (9)
(Payable April 15 of each year)
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 1,
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
(80 %) of the fair market value of the property incumbered 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
the lien created hereby is
and by this reference made
IN WITNESS WHEREOF the
day of APR /L
Signatures to be Notarized
Signatures to be Notarized
Description of the real property encumbered by
set forth in full on Exhibit "A" attached hereto
a part hereof.
parties have executed this agreement this
1987 at Poway, California.
Property Owner:
By: CJ
By: 5k,-
• - • 569
CITY OF POWAY, a municipal
corporation
ATTEST:
1z I
ity Clerk
(City Seal)
m /lienl -3
PARTNERSHIP ACKNOWLEDGMENT
***************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * **
* State of On this the day of 19
before me,
* ) SS.
* County of )
* the undersigned Notary Public, personally appeared
* *
* *
* *
* ❑ personally known to me
*
*
* ❑ proved to me on the basis of satisfactory evidence
* to be the person(s) who executed the within instrument
* on behalf of the partnership, and acknowledged to me that
* the partnership executed it.
* WITNESS my hand and official seal.
* *
* Notary's Signature —
***************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * **
CORPORATE ACKNOWLEDGMENT
***************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * **
* State of On this the day of 19 before me,
* ) SS.
* County of )
* the undersigned Notary Public, personally appeared
* *
* *
* *
* ❑ personally known to me
*
*
* ❑ proved to me on the basis of satisfactory evidence to
* be the person(s) who executed the within instrument as
* or on behalf of the corporation
* therein named, and acknowledged to me that the corporation
* executed it.
* WITNESS my hand and official seal.
*
k Notary's Signature
-
/;q E^r �PFE� -r �wi __ �c16L l C /An P®2 o U� 10),64 ?_S
GENERAL ACKNOWLEDGMENT
" " 570
*****************
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * **
*
State of
On this the day of L, 19 8) before me,
*
*
) SS.
County of Sa►, .DIECTa )
�jT�►y ��2a ka�
*
the undersigned Notary Public, personally appeared
*
*
*
lyloRR)S
*
*
*
*
VF' ! A- SEE AL
proved to me on the basis of satisfactory evidence
*
*
CATHY
to be the persol s whose name'- ARE subscribed
*
SIM DIEGO COUNN
to the within instrument, and acknowledged that H E
*
*
M,C«rm Ev Aw.r.1=
executed it. 'L
WITNESS my hand and official seal.
*
*
*
Notary's Signature
* *
* * * * * * * * * * * * * * *
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
*
PARTNERSHIP ACKNOWLEDGMENT
***************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * **
* State of On this the day of 19
before me,
* ) SS.
* County of )
* the undersigned Notary Public, personally appeared
* *
* *
* *
* ❑ personally known to me
*
*
* ❑ proved to me on the basis of satisfactory evidence
* to be the person(s) who executed the within instrument
* on behalf of the partnership, and acknowledged to me that
* the partnership executed it.
* WITNESS my hand and official seal.
* *
* Notary's Signature —
***************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * **
CORPORATE ACKNOWLEDGMENT
***************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * **
* State of On this the day of 19 before me,
* ) SS.
* County of )
* the undersigned Notary Public, personally appeared
* *
* *
* *
* ❑ personally known to me
*
*
* ❑ proved to me on the basis of satisfactory evidence to
* be the person(s) who executed the within instrument as
* or on behalf of the corporation
* therein named, and acknowledged to me that the corporation
* executed it.
* WITNESS my hand and official seal.
*
k Notary's Signature
571
ExN18it .A.
PY
PARCEL A:
Parcel 4 of Parcel Map No. 5920, in the County of San Diego,
State of California, filed in the Office of the County
Recorder of San Diego County May 12, 1977, as File No. 77-
182075 of Official Records.
Reserving therefrom in favor of the Grantor an easement and
right of Kay for ingress and egress, road and utility purposes,
including, but not limited to electric power, telephone,
9.4.S,j 04ter, sewer and cable television lines and appurtenances
theK.,right and power to convey the
- same to``others over, under, along and across that portion
lying within the "Proposed 60 Foot Private Road Easement ",
as delineated and designated on said Parcel Map.
PARCEL B:
An easement and right of way for ingress and egress, road
and utility purposes, including but not limited to electric
power, telephone, gas, water, sewer and cable television
lines and appurtenances, thereto, together with the right
and power to convey the same to others over, under, along
and across those portions of Parcels 1, 2 and 3 of Parcel
Map No. 5920, in the County of San Diego, State of California,
filed in the Office of the County Recorder of San Diego
County, May 12, 1977 as File No. 77- 182075 of Official
Records, lying within the "Proposed 60 Foot Private Road
Easement" as delineated and designated on said Parcel Map.