HomeMy WebLinkAboutContracts & Agreements_32-1986_CCv0001.pdf RECOROMU R S UESTEO SAY
w ,
AND WHEN RECOR09:0 MAI . TO
(LIFE SAVINGS BANK
• 1598 E. HIGHLAND AVENUE
city P. O. BOX 30009
sut*
E SAN BERNARDINO, CA 92413
#•••. ,SPACE ABOVE THIS GINE FOR RECORD R"St USE
S E)" I N N GMM rN'T
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST
IN THZ ,PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN
OF SOMJE OTHER OR LATER SECURITY INSTRUMENT.
IS AGREEMENT, made this IN dale of OCIUDUI9
by jQ2EEH & JA5EN AND JOYCE E. IBSEN HUSBAND AND WIEL AE JOINI TENANTS ,
owner of the land hereinafter described and hereinafter referred to a
"'Owner 11, and CITY OF REDLANDS AND VAUGHN S. BRYAN JR. AND ANN L. BRYAN ,
present owner and holder of the ' #� and note first herein-
after described and hereinafter referre o as "Beneficiary'"r
WITNESSETH:
TUAT, WHEREAS, JOSEPH M. IBSEN AND JOYCE E. IBSEN
did execute a � dated f APRIL 16 , 19 ,
to CITY OF REDLANDiM VAUGHN S. BRYAN JR. AND ANN L. BR as trustee,
covering:
LOT 5, TRACT NO. 12901, IN THE CITY OF REDLANDS, COUNTY OF SAN BERN INC}, STATE
OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 180 OF MAPS, PAGE 56, RECORDS OF SAID
COUNTY.
LIEN ARE ATT
to secure a in the Sum of $ 25,000.00 , dated AP IL. 16. 1985
in favor of CITY OF REDLANDS AND VAUGHN S. BRYAN JR.A ND ANN L BRYAN ,
which Twas recorded _ APRIL 23 1985
in book,�reel
r, page image , Official Records of said County; and
_,,
WHEREAS, Owner has executed, or is about to execute, a deed of trust
and note in the sum of $_L001000-00 dated SEPTEMBER 24, 1986 ,
in favor of LIFE SAVINGS BANK
hereinafter referred to as "Lender", payable with interest and upon the
terms and conditions described therein, which deed of trust is to be
recorded concurrently herewith; and
WHEREAS, it is a condition precedent to obtaining said loan that
said deed of trust last above-mentioned shall unconditionally be and
remain at all times a lien or charge upon the land hereinbefore des-
cribed, prior and superior to the lien or charge of the deed of trust
firstabove-mentioned; and
WHEREAS, bender is willing to rake said loan provided the deed of
trust securing the same is a lien or charge upon the above--described
property prior and superior to the lien or charge of the deed of trust
first above-mentioned and provided that Beneficiary will specifically
and unconditionally subordinate the lien or charge of the deed of trust
first abpve:-mentioned to the lien or charge of the deed of trust in
favor of Lender; and
WHEREAS, it is to the mutual benefit of the parties hereto that Len-
der crake: such loan to Owner; and Beneficiary is willing that the deed
of trust securing the same shall, when recorded, constitute a lien or
charge upon said land which is unconditioral.ly prior and superior to
the lien or charge of the deed of trust first above-mentioned.
NOW, THEREFORE, in consideration of the mutual benefits accruing to
the parties hereto and other valuable consideration, the receipt and
sufficiency of which consideration is hereby acknowledged, and in order
to induce Lender to make the loan above-referred to, it is hereby de-
clared, understood and agreed as follows;
(1) That said deed of trust securing said note in favor of Len-
der, and any renewals or extensions thereof, ' shall uncondition-
ally be and remain at all times a lien or charge on the property
therein described, prior and superior to the lien or charge of
the deed of trust first above-mentioned;
(2) That Lender would not make its loan above-described without
this subordination agreement; and
(3) That this agreement shall be the whole and only agreement
with regard to the subordination of the lien or charge of the
deed of trust first above-mentioned to the lien or charge of the
dead of trust in favor of Lender above-referred to and shall su-
persede and cancel, but only insofar as would affect the prior-
ity between the deeds of trust hereinbefore specifically descri-
bed, any prior agreements as to such subordination, including,
but not limited to, those provisions, if any, contained in the
deed of trust, first above-mentioned, which provide for the sub-
ordination of the lien or charge thereof to another deed or
deeds of trust or to another mortgage or mortgages.
Beneficiary declares, agrees, and acknowledges that.
(a) He consents to and approves (i) all provisions of the note
and deed of trust in favor of Lender above-referred to. and (ii)
all. agreements, including but not limited to, any loan or escrow
agreements between, Owner and Lender for the disbursement of the
proceeds of Lender 's loan;
(b) Lender, in making disbursements pursuant to any such agree-
ment, is under no obligation or duty to, nor has Lende:x repre-
sented that it will, see to the application of such proceeds by
the person or persons to whom Lender disburses such proceeds,
and any application or use of such proceeds for purposes other
than those provided for in such agreement or agreements shall
not defeat the subordination herein made in whole or in part;
(c) He intentionally and unconditionally waives, relinquishes
and subordinates the lien or charge of the deed of trust first
above-mentioned -in favor of the lien or charge upon said land of
the deed of trust in favor of Lender above-referred to, and un-
derstands that in reliance upon, and in consideration of, this
waiver, relinquishment and subordination, specific loans and
advances are being and will be made, and, as part and parcel
thereof, ,• specific monetary and other obligations are being and
will be entered into which would not be made or entered into but
for said reliance upon this waiver, relinquishment and subordin-
ation.- and
(d) An endorsement has been placed upon the note secured by the
deed of trust first above-mentioned that said deed of trust has
by this instrument been subordinated to the lien or charge of
the deed of trust in favor of Lender above-referred to.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS
THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN, A
PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF
THE LAND.
N I
CITY OF REL DS
BY: n Holmes, City Manager H M. tBSEN
VAUGHN S. BRYAN, EftEFICIARy ANN L. BRYAN E.IBSEN OWNER
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF
THIS SUBORDINATION AGREEMENT, THE PARTIES CONSULT
WITH THEIR ATTORNEYS WITH RESPECT THERETO.
(CLTA SUBORDINATION FORM "A")
WhEN RECO EIS, RETURN TO:
City Clerk ' RECORDED V*1 i In
City of Redlands OFFICIAL RFNPT��
P. 0. Box 280 FEF
Redlands , Calif . 92373 1985 PR 23 AN It: 53
Fm a _T"'7' L7 M_Iw� co SAN BERNA�UINC
�0 CO.. CALIF.
LIEN AGREEMENT TO SECURE CONSTRUCTION
OF PUBLIC I-M—PROVEMENT-5
(Or3inance No. 177TF
THIS AGREEMENT, made this 16th day of Al2ril
1985 01 by and between the CITY OF REDLANDS , a municipal corpora-
tion hereinafter called CITY, and VAUGHN S. BRYAN, JR. AND
ANN L. BRYAN
hereinafter called OWNER.
WHEREAS, OWNER plans to construct certain improvements to
real property in CITY : and
WHEREAS, the laws of the State of California and the
ordinances of the City of Redlands require that OWNER secure the
construction of certain public improvements as a condition prece-
dent to said planned improvements and the occupancy thereof ; and
WHEREAS, it is to the benefit of OWNER that he post an
adequate guarantee to insure the construction of said public
improvements and that he agree to install said public improvements ;
and
WHEREAS, CITY is willing to approve said planned construc-
tion and occupancy thereof prior to completion of the required
public improvement work only upon the condition that OWNER agrees
to complete said public improvement work in accordance with the
provisions hereinafter set forth, and pursuant to California
Civil Code Section 66499 authorizes a lien to be immediately
placed upon this property as security for guaranteeing to CITY
completion of said public improvement work and payment of claims
of laborers and materialmen furnishing labor or material in the
construction of said public improvements ;
NOW, THEREFOR, in consideration of the mutal convenants
herein contained and for other good and valuable consideration,
the sufficiency and receipt of which is hereby acknowledged , it
is mutually agreed as follows :
1 . OWNER will at his sole cost and expense
SEWER ( 'Tract No. 12901) :
(1) Install 8-inch sewermain through project to existing dry sewer
west of project as shown per drawing on file in the Public Works
Dept.
(4) Compliance with ordinances in effect.
2 . OWNER agrees that all of said public improvements as 1.71
required and referred to in provision 1 hereof, shall be commenced
and completed within thirty (30) days of receipt of a written
request from CITY to so construct said improvements, and OWNER
further agrees that all of said public improvements shall be
commenced and completed in accordance with then existing laws ,
ordinances, and standards relating to same, and further subject
to the approval of the City Engineer.
3. OWNER further agrees to furnish all equipment, material ,
labor and engineering services necessary to complete said improve-
ments, to do said work in a good and workmanlike manner in
accordance with specifications of CITY as communicated by the
City Engineer and Department of Public Works of CITY, and to pay
CITY its actual costs of engineering and inspection services to
be rendered on such work.
4 . Said public improvements shall not be deemed completed
until approved and accepted as completed by CITY' s Council .
5. OWNER further agrees concurrently with the execution
of this agreement that CITY shall have a lien upon the property,
herein described, of the OWNER for the performance by the OWNER
of this agreement and of every provision herein in the mode and
at the time provided. Time shall be of the essence of this
agreement, and upon default in the performance of any promise of
OWNER herein or by OWNER of any term or condition hereof, CITY
may declare the whole amount hereunder then owing to be due and
payable and may enforce said work to be done, or in the alterna-
tive CITY may elect and cause the completion of the construction
and then institute foreclosure proceedings on this lien to pay for
the same.
6 . OWNER agrees that the cost of said improvements ,
including engineering and inspection services by the CITY, plus
any possible payment of claims of laborers and materialmen
furnishing labor or material in the construction of said public
improvement, at the date of execution of this agreement is
approximately TWENTY-FIVE THOUSAND DOLLARS
($ 25,000.00 OWNER authorizes a lien upon his property for
security to insure either the construction of said public improve-
ment by his own action as provided in this agreement or as payment
to the CITY of said amount in case the OWNER defaults in perfor-
mance of this agreement. The amount of the lien shall be the
amount indicated in this paragraph 6, adjusted to reflect changes
in said costs as provided in the Engineering News Record
Construction Cost index as of the date of the CITY' s written
request to construct the improvements as provided in paragraph 2
of this agreement. OWNER understands and agrees that he and his
heirs , successors, or assigns will be responsible for full
reimbursement to the CITY for the CITY' s actual cost of
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constructing the improvements contemplated herein, notwithstanding
the fact that such costs may exceed the amount of the lien created
pursuant to this agreement.
7 . CITY shall have the right immediately to record this
agreement in the Official Records of the County of San Bernardino,
State of California , as an instrument affecting and creating a
lien upon the title to property of OWNER herein described; and,
upon full performance by OWNER of this agreement, CITY shall execute
and deliver to OWNER an instrument of full satisfaction of this
agreement, which instrument shall fully and accurately describe
the property of the OWNER herein described. This agreement shall
be recorded before a building permit is issued to OWNER for said
planned construction.
8 . OWNER agrees to waive, as a defense, counterclaim or
setoff, all and any defects , irregularities or deficiencies in
ordinances or resolutions of CITY or of its officials or agents
in regard to the authorization or making of said improvements and
in regard to the defectiveness or voidness of aforesaid agreement
between CITY and OWNER; and OWNER agrees to indemnify and hold
harmless CITY, its officials or agents as to loss or damage from
such defects , ,defectiveness , irregularities , omissions, deficiencies
or voidness .
9 . The property of OWNER to which this agreement is appli-
cable is located at 176-192-26 (Parcel No.)
(street address)
Redlands, California, and its full legal description follows :
That certain property located in the City of Redlands, County of San Bernar-
dino, State of California, more particularly described as Parcel 4 of PARCEL
MAP NO. 3266, as per map recorded in Book 35, page 87 of parcel maps, in
the office of the Recorder of said county.
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10 . The lien created pursuant to this agreement shall run
with the property described herein, and the requirements imposed
by this agreement shall bind the heirs, successors and assigns of
said property until satisfied in full .
11 . Should any legal action be brought for the purpose of
protecting or enforcing its rights under this agreement, the
prevailing party shall recover, in addition to all other relief,
its attorneys ' fees and court costs in an amount to be fixed by
the Court.
CITY OF REDLANDS
f
By:
ATTEST: Mayor
Citi Clerk
OWNER kvt,
OWNER
STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO)
On April 18, 19 85 before me, the undersigned,
a Notary Public in and for said County and State, personally appeared
Vaughn S. Bryan, Jr. , and Ann L. Bryan - - - -
personally known to me (or proved to me on the basis of satisfactory_
evidence) to be the person (s) shoe name (s) (i>w) (are) subscribed to
this instrument and acknowledged that they executed it.
IN WITNESS WHEREOF , I hereunto set my hand and official seal .
Notary Public in and for said
County and State
My commission expires August 30, 1985
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