Lien Agreement for Public Improvements 1988-132355i
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�. 540 083 132355
REQUESTED BY AND WHEN RECORDED,
RETURN TO:
CITY CLERK'S OFFIC9
CITY OF POWAY,
P O. BOX 789
POWAY, CA 9206 APN 277 - 130 -01
4-
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
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:SRS MAP, 23 PH 2' 200
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 Robert & Kathleen Myers, 18028 Old 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:
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Principal Obligation Not to Exceed: $3,512:00
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 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 7�
day of '9ae,� 1987 at Poway, California.
Signatures to be Notarized
Signatures to be Notarized
Property Owner:
By: � ,/ g,
By: 4&Z�) }� —�
542
CITY OF POWAY, a municipal
corporation
Mayo r
ATTEST:
'P � V Dt0'*'q-b
City Clerk
(City Seal)
m /lienl -3
543
=NERAL ACKNOWLEDGMENT L/ C /rhP,ea u� fnTS
State of CALlfoien)IA On this the day of �ARiL 19��, before me,
SS.
County of.5A,, pje-�;-D ) Fly- o �l
the undersigned Nota y Public, personally appeared
C42 tI- YEA TH L. FErJ V C ,
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r—i l l , +.
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Fproved to me on the basis of satisfactory evidence
o be the person,�whose nam� ASE- subscribed SEAL CATHY BROKAW to the within ins rument, and acknowledged that
No" executed it.
WITNESS my hand and official seal.
M
y oomm. Exp. nw 21, 1989
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Notary's Signature
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kRTNERSHIP ACKNOWLEDGMENT
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State of
On this the day of 19 before me,
SS. —
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County of
)
the undersigned Notary Public, personally appeared
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❑ personally known to me
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❑ proved to me on the basis of satisfactory evidence
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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.
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Notary's Signature —
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)RPORATE ACKNOWLEDGMENT
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State of
On this the day of 19 before me,
SS. — *
County of
)
the undersigned Notary Public, personally appeared
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❑ personally known to me
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❑ proved to me on the basis of satisfactory evidence to
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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.
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Notary's Signature
544
�, �; ► OUNDERS TITLE COMPt %AY
1843 Hotel Circle South San Diego California 92108
SUPPLEMENTAL REPORT
Rich Financial
10650 Scripps Ranch Blvd.
San Diego, Ca.
Attn: Jim
Your Ref Myers
Our No 88389 -3
Dated as of March 11, 19 87 at 7.30 A.M Frank Gregory
Title Officer
The above numbered report (including any supplements or amendments thereto) is hereby modified and/or sup-
plemented in order to reflect the following
Please ADD the following item to our report:
Oct-7t-11. A Deed of Trust to secure an indebtedness in the amount shown
below, and any other obligations secured thereby:
Amount: $138,000.00
Dated: July 12, 1985
Trustor: Robert A. Myers and Kathleen A.
Myers, husband and wife
Trustee: Sunkist Service Company, a California
Corporation
Beneficiary: American Savings and Loan Association,
a California Corporation
Recorded:. July 30, 1985 as File No. 85-
270518 of Official Records.
FSD -065
EXHIBIT "A" v v
DESCRIPTION
PARCEL 1
That portion of the Northeast Quarter of the Northeast
Quarter of Section 19, Township 13 South, Range 1 West, San
Bernardino Base and Meridian, in the City of Poway, County of
San Diego, State of California, according to United States
Government Survey, described as follows•
Begf'Rning at the Northwesterly corner of said Northeast
Quarter of the Northeast Quarter, thence along the Westerly
line of said Quarter Quarter, South 04 006141" West, 301 09
feet, thence parallel with the Northerly line of said Quarter
Quarter, North 89 014137" East, 365 00 feet, thence parallel
with the Westerly line of said Quarter Quarter, North
04 006141" East, 301 09 feet to the Northerly line of said
Section 19, thence along said Northerly line, South 89 014137"
West, 365 00 feet to the Point of Beginning.
PARCEL 2
An easement for road and utility purposes over, under, along
and across a strip of .land 30 00 feet in width lying within
the Northeast Quarter of the Northeast Quarter of Section 19,
Township 13 South, Range 1 West, San Bernardino Base and
Meridian, in the County of San Diego, State of California,
according to United States Government Survey, said 30 00 foot
strip lying Southerly of and immediately adjoining the
Southerly line of Parcel 1 hereinabove described