Lien Agreement for Public Improvements 1988-13233643 3
BB 132336
REQUESTED BY AND WHEN RECORDED,
RETURN T0:
CITY CLERK'S OFFlC =fin
C+ t i OF POWAY
P BOX 789 _ ; :_ ?
POWAY, CA 92064 APN 277 - 070 -33 � ullij,h Y - ,LL €�i'C�
LIEN AGREEMENT FOR PUBLIC IMPROVEMENTS
NO FED
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 Edward& 4ia4ba" Malone, 9555 Genesse Avenue,
San Diego, CA 92121
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:
434
Principal Obligation Not to Exceed: x.00
Interest Rate on Unpaid Balance: 5 % per annum
Number of Annual Equal Payments of Principal
Plus Accured Interest: four (4)
(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 iciterest 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 "-
day of Aefg/ , , 1987 at Poway, California.
Signatures to be Notarized
Signatures to be Notarized
Property Owner:
By:
Am
V V 435
CITY OF POWAY, a municipal
corporation
/ �'i,�!•
Mayor
ATTEST:
)T)L�
-k� ; v&*x-b1
City Clerk
(City Seal)
m /lienl -3
5
2
R:FBD
-25 -78
- 584233
-17194
171
PARCEL 1•
eo W:: > c OAC 14
0
EMUBIT "A"
V0 W. Y
436
All of the Southeast Quarter of Section 19, Township 13 South, Range 1 West,
San Bernardino Meridian, in the County of San Diego, State of California,
according to Official Plat thereof, and those portions of the East Half
of the Southwest Quarter and of the Southeast Quarter of the Northwest Quarter
of said Section 19 lying Easterly if the center line of County Road Survey
No. 732 (known as Old Coach Road) according to Plat thereof on file in the,
Office of the County Engineer of San Diego County, and as more particularly
described in that easement for County Highway recorded February 15, 1968
as File No. 26947.
PARCEL 2:
The North Half of the Northwest Quarter of the Southwest Quarter of the
Northeast Quarter of Section 19, Township 13 South, Range 1 West, San
Bernardino Meridian, in the County of San Diego, State of California,
according to Official Plat thereof.
EXCEPTING therefrom all oil, gas and other mineral deposits in said land,
together with the right to prospect for, mine and remove the same as
excepted and reserved to the United States of America in Patent recorded
January 22, 1964 as File No. 13450.
PARCEL 3:
The Sout tin uar D the est Quarter of the Southeast Quarter,
all beine on Town ip South, Range 1 West, San Bernardino
Meridian nt D o, State of California, according to
Official Plat Nereof. '
I
i
M
3
1 �
I g�
• JLO• r• ,krCEN SEC It
+.. 2409 AC £ a a r 14.89 AG ;
p 60
070
14 I
�M try 0. 3K
80- 159-01 10.00 AC
L
V V
Y �
6.83 AL
19.72 AG 19 •r1 AC
t f
t to Ole al 30j 99
s s• 3 w �`' - -- -
' crn •�
ASSESSMENT FURPOSES OMIT
am's NAP sit t71 POO? S"t 1012 44
v 438
GENERAL ACKNOWLEDGMENT
* * * * * * * * * * * * * * * * *
* *
* * * * * * * * * * * * * * * * * * * * * * * * * * * *
*
* State of ,q4
On
this the day of !VR14- 199 before me
* County ofS�
Q-2
/ mac, )
T
*
the
undersigned Notary PPublic, personally appeared
*
*
*
(�QW.4�t�')ALaryE
*
*
*
OFFICIAL SEAL
* CATHY BROKAW
*
proved to me on the basis of satisfactory evidence
* SM OIEGOOOOUNTY
to
be the person N whose name (`s / -S subscribed
to
the within instrument, and acknowledged that
* �' �`""' iiApr211
"
executed
it.
*
WITNESS
my hand and official seal.
*
*
*
* Notary's Signat re
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
PARTNERSHIP ACKNOWLEDGMENT
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
* State of On this the day of
SS. 19 before me,
* )
*
* 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.
k
k WITNESS my hand and official seal.
k
k Notary's Signature
439
HIDDEN VALLEY RANCH
9 5 5 5 G E N E S E E AVENUE
SAN DIEGO CALIFORNIA 92121
1619) 453 -6865
Dear Ms Brokaw,
April 21, 1987
Cathy Brokaw
City Managers Office
City of Poway
P. 0. Box 785
Poway, Ca. 92064
Enclosed is the legal description for my property on Old Coach Road.
The ranch is free and clear of any encumbrances. Title is held by my wife
and I jointly under a Trust dated December 12, 1972, If my wife's signa-
ture is required, please let me know.
Cordially,
HIDDEN VALLEY RANCH
E C. Malone
/gf
Enclosure