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2000-406172 g663 DOC 2000-0406172 RECORDING REQUESTED BY: ] I~UG O1 , 2000 ] - CITY OF ENCINITAS ] 0FFIC!~ ] SAN ~IE~ C~[Y ~'.ECORDER'~ OFFI~E WHEN ~CO~ED ~TU~ TO: ] G~RY a. SHITH, ~NTY RECTOR ] FFE~: 0 n:. ]] IIII II II II II IIII IIIII I IIII II 505 S. VULCAN AVENUE ] ENCINITAS, CA 92024 ] (For Recorder's Use Only) ~ Assessor's Parcel No. 256-232-05 LIEN AG~EMENT FOR PUBLIC IMPROVEMENTS THIS AG~EMENT entered into by ~d between the CITY OF ENCINITAS, a m~icipal co¢oration of the State of California sometimes hereinafter refe=ed to as "City," ~d Paul A. ~d Pmela J. Bm=, sometimes hereina~er refe~ed to as "Prope~y Omer." WHE~AS, Prope~y Omer and CiW have agreed to ~e installation of ce~ain improvements to Woodley Place; ~d WHE~AS. Prope~y omer represents that Prope~y Owner is ~e record owner of that real prope~y described in Exhibit "A" a~ached hereto; ~d WHEREAS, City has paid one-half the cost of improvements ~d loaned to property Owner monies equal to ~e share of cost of said improvements paid by City; ~d WHE~AS, Prope~y O~er has agreed to repay said monies lent to Prope~ Owner by City ~d to secure said obligation to repay said loan with ~is Lien Agreement to be recorded in Prope~y Owner's chain of title; ~d WHEREAS, the installation of said public improvements has been determined to be in the public interest; ~d WHE~AS, the 1o~ of monies to Prope~ Owner mq~red to install said improvements has been dete~ined to be in the public interest. NOW, THE~FO~, IT IS AG~ED between the p~ies hereto as follows: Section 1. City shall lo~ to Prope~y O~er the sm equal to City's cost for improvemems to Woodley Place. Prope~y Owner agrees that ~e hemina~er-described real prope~y does benefit by the installation ofs~d improvemems. Prope~y Owner agrees to repay said loan in ~u~ installments to be added to the tax bill of that re~ prope~y hereina~er described owned by Prope~y O~er. Prope~y Owner agrees to repay said lo~ in accord~ce wi~ the folloMng terms ~d conditions: Principal Obligation not to Exceed $ 4,875.00 Interest Rate on Unpaid Bal~ce 6.97% per ~m con6402 2664 EXHIBIT "A" The Northerly 75.50 feet of all that portion of the Easterly 181.0 feet, measured at right angles, of Lot 23 of PASSIFLORA ACRES, according to Map thereof No. 2355 filed in the Office of the County Recorder of San Diego County, September 27, 1946, lying Southerly of a line described as follows: Beginning at a point in the Easterly line of Lot 23 distant South 0°35'30'' West 118.62 feet from the Northeast corner of Lot 23, thence North 89°54'30'' West 358.64 feet to the Westerly line of said lot. APN 256-232-05 ml6443 2665 Number of Annual Equal Payments Of Principal Plus Accrued Interest and Administrative Fee 10 ~ 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 this 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 transfers 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 a residence thereon. Section 3. Upon payment in 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. IN WITNESS WHEREOF the parties have executed this agreement this 2 ~//'q day of ~f~. c ,2000, Encinitas, California. By: Paul A. B~ By: Pamela J. lg~anann (Signatures must bc notarized) CITY OF ENCI~IT~, a ~unicipai Corporation // By: ATTEST: I~borah Cervone, City Clerk -- con6402 2666 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT On/~Z~) } ,,~...,~¢ .~V~efor //~ / ~ '~ ~°~ally known to me ' ~ proved to me on the basis of satisfacto~ evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that b his/her/their ............. si n Y ~-~ ~- g ature(s) on the instrument the person(s), or ~~ the entity upon behalf of which the person(s) ~ ~-~ i ~ted, executed the instrument~ ] ~"'"~~/ ~ITNESS m~and and offiCiaL ~IONAL Though the information below is not ~quired by la~ it may prove valuable ~o pe~ons relying on the document and could p~vent fraudulent removal and reattachment of this form to another document. Description of AEached Document ~ ~ _ ~ .l ~ Titleor Typeof Docu e t:/ ~ I ' 'J ) I 2 DOc DooumentDate: ~--2~- OO Number of Pages: ~ ,/ ~ ~ , ~~1, Signer(s) Other Than Uamed Above.. ~U/ J~ ~~ ~ ~ Capac~tyOes) C ai~ed by S ~.er Individua~ ~ Corporate O~icer ~ Title(s): ~P o~*humb he~ ~ Pa~ner ~ ~ Limited ~ General ~ AUorney in Fact ~,~ ~ Trustee ~;':-2-~-~ ~'' ~ Guardian or Conse~ator ~ Other: Signer Is Representing: © 1997 National Notary Association · 9350 De Soto Ave., RO BOX 2402 · Chatswodh, CA 91313-2402 Prod No 5907 Reorder: Call Toll-Free 1 800 876-6827 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of ./~.~. ~,... _~'~L_~ .,3.~__.~ ss. - r 0-~' and Title of'OT~cer (~ g "Jane Dca, Notary' ' ~ Public~) personally appeared Name(s) of Signer(s) .g~personally known to me [] proved to me on the basis of satisfactory evidence  to be the person(~) whose name~') is/ere-- subscribed to the within instrument and - acknowledged to me that he/~ ,e,';.', ,ay executed the same in his/,hc r/thair~ authorized  capacity~-T'-), and that by his/hed;.h~,~ signature(~) on the instrument the person(t,), or the entity upon behalf of which the person(~ acted, executed the instrument. WITNESS my hand and official seal. Place Notary Seal Above -- ,//) S~gnatur~of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable lo persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document, Description of Attached~,..ume~t/~..,. , / '~ Number of Pages: /-~, ,~ ~ ~ ~ ,-~ Signer(s) Other Than Named Above: Capacity(les) Claimed by Signer Signer's Name: [] Individual [] Corporate Officer-- Title(s): L~ Partner-- [] Limited [] General [] Attorney in Fact LJ Trustee L~ Other: Signer Is Representing: