RELEASE OF LIEN AGREEMENT
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
CITY OF MENIFEE
29844 HAUN ROAD
MENIFEE, CA 92586
SPACE ABOVE THIS LINE FOR
RECORDER'S USE
Exempt from the payment of recording
fees pursuant to Government Code §§
6103 & 27383.
RELEASE OF LIEN AGREEMENT
This Release of Lien Agreement (this "Release") is made on _2026, by the City of Menifee, a California municipal corporation ("City"), and Minor Ranch, LLC, a Delaware limited liability company ("Owner"").
RECITALS
A. Owner submitted an application to the City for recordation of a Final Map for Tract No. 38303 (the "Map") for a proposed development comprised of residential homes, a business park, a commercial and retail center, drainage facilities, and public streets located on or in connection with Owner's property described on Exhibit A attached hereto and incorporated herein by this reference (the "Property").
B. As a condition of final approval and recordation of the Map, City and Owner entered into that certain Subdivision Improvement Agreement for the Construction of Street, Drainage, Domestic Water, Recycled Water, and Sewer Improvements dated November 6, 2024 (the "SIA"), whereby Owner agreed to install certain public and private improvements described therein as the "Improvements." C. The SIA, among other requirements, required Owner to obtain and submit to City certain security for construction of the Improvements, including, without limitation, a lien agreement recorded against Owner's property for the construction of backbone street and drainage improvements comprising a portion of the Improvements under the SIA.
D. On November 6, 2024, Owner and City entered into and recorded that certain Lien Agreement in the Official Records of the County of Riverside as Instrument Number 2024-0347324 (the "Lien Agreement), which secured a portion of the Improvements described on Exhibits C-1 and C-2 of the SIA against the Property (the "Lien-Secured Improvements").
E. The Lien Agreement requires the substitution of acceptable substitute security within two (2) years of recordation of the Map, and prior to the commencement of work on any of the Lien-Secured Improvements.
F. The Lien Agreement further provides that the Lien Agreement shall be released following (1) City's approval of substitute forms of security submitted by Owner, (2) deposit by Owner of fees for inspections, tests, and other purposes set forth in the Lien Agreement, and (3) the payment by Owner and performance of all "Obligations" secured by the Lien Agreement and defined therein.
G. Owner has obtained the following bonds securing the Lien-Secured Improvements (the "Substitute Bonds"):
a. Bonds for Tract #38303 For the Construction of Street and Drainage Improvements, Briggs Road, IP25-001S, executed May 1, 2026. Bond No. 902030971-800182981 by Atlantic Specialty Insurance Company, 605 Highway 169 North, Suite 800, Plymouth, MN 55441. Faithful Performance Bond & Payment Bond, each $2,346,000.00.
b. Bonds for Tract #38303 For the Construction of Signing and Striping and Traffic Signal Improvements, Briggs Road, IP25-001SS, executed June 11, 2026. Bond No. 902030980-800182990 by Atlantic Specialty Insurance Company, 605 Highway 169 North, Suite 800, Plymouth, MN 55441.
Faithful Performance Bond and Payment Bond, each $1,503,000.00. c. Bonds for Tract #38303 for the Construction of Street and Drainage Improvements, Highway 74, IP25-002S, executed August 19, 2026. Bond No. 902045316-800265832 by Atlantic Specialty Insurance Company, 605 Highway 169 North, Suite 800, Plymouth, MN 55441. Faithful Performance Bond & Payment Bond, each $8,993,000.00.
H. City has received and accepted the Substitute Bonds as adequate substitute security pursuant to the SIA, and Owner has submitted all such payments required by the Lien Agreement for release thereof.
I. City and Owner have executed an amendment to the SIA memorializing the substitution of the Substitute Bonds for the Lien Agreement, and authorizing the execution and recordation of this Release.
RELEASE
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Owner agree as follows:
1. Release. The Lien Agreement is hereby released pursuant to the SIA and is substituted with the Substitute Bonds as security for the Lien-Secured Improvements.
2. Intent. This Release is intended to fully release and terminate the Lien Agreement as an encumbrance on the Property, and upon recordation of this Release in the Official Records of Riverside County, California, the Lien Agreement shall be deemed released, vacated, and abandoned.
3. Retention of Other Rights. Nothing in this Release shall be construed to release, impair, or otherwise affect any rights, obligations, covenants, restrictions, or interests not expressly described herein, including all rights and obligations of City and Owner under the SIA and the Map.
4. Execution in Counterparts. This Release may be executed in multiple counterparts, each of which shall be an original and all of which together shall constitute one agreement.
IN WITNESS WHEREOF, the City and Owner have executed this Release as of the date first written above.
City OWNER
City of Menifee, a California municipal Minor Ranch, LLC, a Delaware limited corporation liability company
Nrel mi B
Nick Fidler, Public Works Director Nicole Burdette, Division President Armando G. Villa, City Manager
ATTEST:
Stephanie Roseen, City Clerk
APPROVED AS TO FORM:
Jeffrey T. Melching, City Attorney
A notary public or other officer completing this
truthfulness, accuracy, or validity of that
STATE OF CALIFORNIA )
ss.
COUNTY OF _Orange
August 20th , 2026, before me, Vanessa Shaw → Notary Public, personally appeared_Nicole Burdette _ who proved to me on the basis of satisfactory 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 by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
VANESSA SHAW
Notary Public - Caltfornia
Orange County
Commission # 2539195
My Comm. Expires Nov 17, 2029
Notary Public
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
Legal Description of the Property
Being Lots 1,2, 3, 8, and 11 of Tract No. 38303, in the City of Menifee, County of Riverside State of California, as shown by map on file in Book_492 through 22, indusive, of Maps, in the Office of the County Recorder of said County.
See Exhibit "A-2", attached hereto and by this reference made a part hereof, for a depiction of said LAND
LICENSED
Pator Bill STATE
09/19/2024
Robert N. Beuschlein Date
LS 7874
EXHIBIT "A-2"
Depiction of the Property
LOT 4
LOT 8 LOT 7
LOT 5
10T 10
The Property - Lots 1, 2, 3, 8, and 11 Tract 38303