Resolution 204-2009
RESOLUTION NO. 204 -2009
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, FLORIDA,
EXTENDING THE DEFAULT DATE FOR THE SHIP
MORTGAGE ISSUED FOR WOODS CORNER.
WHEREAS, on July 23, 2007, the Board of County Commissioners of Momoe County
(County), Florida, executed a SIDP construction mortgage in the amount of $315,000 with the
Middle Keys Community Land Trust (MKCLT) for affordable housing at Woods Comer,
Islamorada, Florida; and
WHEREAS, the mortgage was due and payable on April 30, 2008; and
WHEREAS, MKCL T has obtained certificates of occupancy on some of the units but is not
prepared to write a check to the County for the amount of the construction loan; and
WHEREAS, it is anticipated that SIDP mortgages will be executed for each unit purchase;
and
WHEREAS, the SHIP budget has some administrative monies budgeted which could be
transferred through a companion resolution to cover the issuance of the individual purchase
mortgages until the construction mortgage is satisfied through checks to be issued by MKCL T at
each closing; and
WHEREAS, it is necessary to extend the due date on the construction loan mortgage in the
amount of $315,000 and recorded at OR Book 2310, Pages 1991 through 1995, or to find the
mortgagor in default; and
WHEREAS, the County has previously agreed to extend the due date on the construction
loan; and
WHEREAS, MKCL T needs additional time to complete the sales of the Woods Comer
units or face default;
NOW THEREFORE BE IT RESOLVED by the Board of County Commissioners of
Momoe County, Florida that:
Section 1. The previously extended due date of May 31, 2009, of the $315,000 SHIP
mortgage between the mortgagor Middle Keys Community Land Trust (MKCL T) and the
mortgagee Momoe County (County) is hereby extended to August 31, 2009.
Section 2.
This resolution shall be effective as of May 31, 2009.
Page 1 of 2 Pages
Res Extend Due Date MKCLT SHIP Mtg
On Woods Corner to 8/31/2009
PASSED AND ADOPTED by the Board of County Commissioners of Monroe County,
Florida, at a regular meeting of said Board held on the 15th day of July, 2009.
Mayor George Neugent
Mayor Pro Tem Sylvia Murphy
Commissioner Kim Wigington
Commissioner Heather Carruthers
Commissioner Mario Di Gennaro
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Yes
Yes
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Att~t: DkNNY L. KOLHAGE, Clerk
BY:c7~
· . eputy Clerk
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
By: jJ.,,~~. ){)~,e4-
Mayor/Chairman
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Res Extend Due Date MKCLT SHIP Mtg
On Woods Corner to 8/31/2009
Page 2 of 2 Pages