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HomeMy WebLinkAboutRe: housing rehab program / O,�, � O O � =, . �� ,�-:^r:�:-♦;- CITY of ORONO �� ����f�;' ���`<,� �, Municipal Offices , � 'ti � �.. . � � �\ ; ,� �� ¢�=��;�',�G � �� Street Address: � � Mailing Address: �\'q$ xp4�' 2150 Kelley Parkway P.O. Box 66 �� Orono, MN 55356 Crystal Bay, MN 55323-0066 June 3, 1999 Ms. Elizabeth J. Balter �577 Livingston Ave. Wayzata, MN. 55391 Dear Ms. Balter; I am forwarding to you copies of the original Housing Rehabilitation Grant Program Repayment Agreement dated September 7, 1982, and the Satisfaction of Repayment Agreement dated June 3, 1999. These copies are for your records. The Satisfaction of Repayment Agreement certifies that the repayment agreement of 1982, together with the lien, have both been paid in full, discharged and satisfied. If you have any questions please call me. Sincerely, ��--- Thomas M. Kuehn Finance Director cc: CDBG file �,S�f file,�577 Livingston Ave 3 Telephone(612)249-4600 • Fax(612)249-4616 Certificate Number: 575357 SATISFACTION OF REPAYMENT AGREEMENT STATE OF l��IINNESOTA ss COUNTY OF HENNEPIN KNOW ALL BY THFSE PRESENTS, That the undersigned City of Orono, a body corporate and politic of the State of Minnesota, having its principal office at 2750 Kelley Pazkway, Orono, Minnesota, for a valuable consideration, receipt of which is hereby acknowledged. DOFS HEREBY CERTIFY, That a certain Repayment Agreement, beazing date the 7`�day of September, 1982, made and executed by Elizabeth J. Balter, single, as Owner, to the City of Orono as grantor, filed for record in the office of the Registrar of Titles in and for the County of Hennepin and State of Minnesota, and entered as Document Number 1497125 on the 12th day of January, 1983, together with the lien provided is, with the indebtedness described in and secured by said Repayment Agreement, fully paid, discharged and satisfied. And the Registrar of Titles for said County of Hennepin and the State of Minnesota is hereby authorized and directed to discharge the same upon the record thereof. IN TESTIMONY WHEREOF, The said City of Orono caused these presents to be executed ' its name by Gabriel Jabbour, its Mayor and by Ronald Moorse, its City Administrator, this 3�� day of juh� , 1999. CITY OF ORONO _ Gabr el Jabbour, Ma or of the City Ronald Mo se, City Administrator of Orono of the City of Orono STATE OF MINNESOTA ) ) ss COUNTY OF HENNEPIN ) � � The foregoing instrument was acknowledged before me this �� day of �/u h� , 1999, by Gabriel Jabbour, Mayor, and by Ronald Moorse, City Administrator, of the City of Orono, a body corporate and politic of the State of Minnesota, on behalf of the City. . - l/�� Notary Public � � •• LINDAS VEE I� ppjApY pUgUGt+iINNESOTA , • FIENNEPlN COUN7Y , � .���� M Cammission ExG ��� . �� , �:/ Y �r�.,J�n.S�.2C �) � _c':'r,: a THIS INSTRUMENT WAS DRAFfED BY: Hemepin County Office of Plaaning and Development Ikvelopment Planning Unit l0709 Wayr,ata Boulevard,Suite 260 SATREPAY.AGR Minnetonka MN 55305 01:18:95 � / ��s p,��� . C:TY OF ORoNo M/G Rvr/��� HE?�RJEPIP� COU:1Tf HOL�Si;�u P.ENABILITATIOf� GRAPlT PROGRAl4 � REPkYPtt!;T AGREEMENT '�';S CupEE��tE��T, made and enfiered into this � � day of Seefe,,,�b�r ' � � ?9 ?1 , by and betwee� �1 iza be k� S.__[3e,,l�er� sin�(� T':er?inarter referred to as "Owner�� , and the City of Orono , a body corper•ate and politic of the State o` :tinnesota; having its principal office at ��-�`Y �4 t-C�����-,= s 5 3a 3 (herei nafter referred to as "Grantor"1; . .JH��EAS, on �c ��.��� �9�� the Grantcr, pursuant to the provisi�ns of Ch3ptor �62A Of 19�nnesota Statutes, agre� to grant to Gwner a rehabilitation ora�L (hereioa`ter referred--tv-as-"�rant") relating to the real estate described in Ctause 2 below in the amount of se�en �l,e,�sa�d �e � (�uRd,.rd {,• � , �� � a� � ��o --,.^ollars (S7+ Y3b.�%—�, but .only on condition that Owner , executes this Agreement'a"nd�fhet�the funds are u�ed in accordance with the terms and � condit�cns of the Grant application; • � t�0id, THEREFORE, in consideration of the said Grant and in accordance with the provicicns of said Minnesota Statutes, the parties do here6y agree as folloms: la. O�.mer covenants and agrees with Grantor that if the real estate described in Claus� 2 below is suid, transferred or other.vise conveyed, votuntarily or involuntarily. either while the Owner +s living or by reason of the death of the Owner, or if the real estate ceases for any reason to be the Chvner's principal place of residence: (i) on or before } b� � �9 which is one (1) year after the date o the Grant, Chrner sha �'repay to Grantor a sum eyual t� the full amount of the Grant, as set forth above; (ii) within the s=co�d year after the date of the GrZ�t, Owner shall repay to Grantcr a su� eaual t� eiehty percent !SU") of the anount c�i the Lr�nt� . . . . !iii) within the third year after the date of the Grant, Owner shall repay to Grantor a sum equal to sixty percent {60p) of the ar.rount of the Grant; (ivj within the feurth year a`ter the date of the Grant, Owner shall repay to Grantor a sum equal to forty percent (40�) of the amount of the Grant; (v) within the fifth year after the date of the Grant, Owner shall repay to Grantor a sum equal to twenty percent (20X) of the amount of the Crant; (vi) thereafter, Owner shall have no obligation to repay, at any time, tt;e Grant or any por`�ion�her`eof to Grantor. l5. Or.rer covenants and aarees that any of the funds of the said Grar�t not used in accordance with the ter��s.and._co�p,djtions_of the Grant Application will be repaid to Grantor. lc, Any such repaynent sha71 be made.to Grantor not iatar than the 30th day following such sale, transfer or other conveyance, or following the date upon. which the reat ' es'tate ceases to be the Owner's principal place of resider�ce, or on such la;,er date er.dates as Granter, in its sole discretion, r�ay designat2. 2. As security for pwner's oblication of rEpayment, and subject to the terms and . conditions of this Rgreement, Ovmer fiereby grants, and Grantor shall and hereby does ha��e, a lier on the real estate hereinafter described in the full amoun: necessary tfl sati�fy sa9d repayment obliaation and the costs, including reasona5le attorneys' fees, : of collecting the same. The real estate sub3ect to said lien is sitnated in Hennep�n Count,�, FiinresoYa, and is leaally d�scribed as• • Lot 9, Block �>. i!avarre Heights, Her.nepin County, � P�i nnes�ta . r� �'�('��- i � � ?Nrs f'�� , . ' M ►c�to�i�► �. O:mer or his/her heirs, executors, or represe itatives, shall give Grantor r,otice �romptly a`ter the date of any sale,. transfer or other conveyance of the above- � �escribed real estate or promptly after the date upon which said rea) estate ceases to be �ti•m�r's principsl place of residence (or, in the event of a sale by contract � =�r �eed, st lesst �en (�p) days pr�cr ta such date of salej. �; ?• in the event Owner or Fis/her heirs, executors, or representatives shall fail cr refuse to make a required repayment within said 'imited period, Grantor may, with or without notice_to Ohmer:r.f�r.eGl-0se said liert in the sarae ;nanner a; is provided by � statute for an action ror_the.forec�osure of mortgages upor, said real estate. ::�:,��:.��;�.. 5. The lien shall termiriate'and shall be of no further force or effect in the event Grantor has noL, on or be–�e 5�,,},,, b�� ,� �' � � � .. Lhe aforesaid .�anner to foreclese t�he s��ne and fiT"ed for�reco dnaenotice�of said action, or a lis pendens-�referring to the same, iri the office of the County Recorder or kegistrar. of Titles, 3s the case may be in Hennepin County. Grantor may, in its � �ole discretion, extend said termination date of said lien by filing for record, on or hefore said termination date, an agreement with Owner or his/her heirs, executors, or rearesentati•res e�:idencing such extension. Absent extension or termination as described ' above, the �rner or his/her heirs. executors, or rep�esentatives, shall notify the. Hennepin County Office of Planning and Develoament promptly after the date of any sa1e, transfer or ether conveyance of the above-described real estate or promptly nfter� the date upon which said real estate ceases to be Owner's principal place of residence (or; , in the even� of a sale by contract for deed; at least ten ,(10) days prior to such date � of sale). � : r�. This Agreement shal�:r��n wifh the real estate described in Clause 2 above and � s�aii inure to the ben�fit o` and be bindino upon the parties Fereto and their �especti��e he:�•s, executors, representativ.es, successors and assigns. �_� 7. If this Agreerrent is executed by a contract for deed ver.dor �f the property, as . ore of the Orrners, such e�cecution sha11 be deemed for the purpose of establishing and { cantinuing the existence cr the indebtedr.ess described herein and the lien granted , herein. Ho«e��er, in the event of default of the terms hereof, neither the Grantor nor its assigns shall take any action against such contract for deed vendor �xcept such as . ray be necessary in order to subject to the satisfaction of said indebted�ess the � property de5cribed herein. It� TESTIMOYY WHEREOF, the parties have executed this Agreement as of the day and � •_ r First above written. j /,� ri_�.-}'T,�� ���) C�rY o � oRo�10 r.-✓ �--��- , � By�! lL�..�.� `�i,, �f�._. -,._ � ��.�� O�ti'NERS -'r - � :,'t._ . � � -�,�-:._.<-:., • ';_,:-,=}.:_., s:� � . , S?ATE OF tLT�1�ESOTA) ,yr•H�.::�;,:_:�,;_, � ) 55. _. . �Cl:";iY OF HC_►�n1EP�� �� ��'`� ^ Cn this �fay of �� , 19 �;eefore me, a No ary Pub c ' ; r:i�hin and ror said Coun�y, persenally appeared � -�� .✓ �Q',f� � tofine�kro�:�n to he the person(s descr�bed in and who�c�cuted the orego�ng nstrument � � ard acYno�vledaed that h2�'executed the same as �Z free act and deed. � — — l�y� � C �c.�.� i . 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