Resolution 246-2009
RESOLUTION NO. 246 -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 Monroe County
(County), Florida, executed a SillP 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 SHIP 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
Monroe County, Florida that:
Section 1. The previously extended due date of August 31, 2009, of the $315,000 SHIP
mortgage between the mortgagor Middle Keys Community Land Trust (MKCL T) and the
mortgagee Monroe County (County) is hereby extended to the final due date of March 31,2010.
Section 2.
No additional extensions will be granted.
Section 3.
This resolution shall be effective as of August 31,2009.
Res Extend Due Date MKCL T SHIP Mtg
On Woods Corner to 3/31/2010
Page 1 of 2 Pages
PASSED AND ADOPTED by the Board of County Commissioners of Monroe County,
Florida, at a regular meeting of said Board held on the 19th day of August, 2009.
Mayor George Neugent
Mayor Pro Tem Sylvia Murphy
Commissioner Kim Wigington
Commissioner Heather Carruthers
Commissioner Mario Di Gennaro
Yes
Yes
Yes
Yes
Yes
....,," . KOLHAGE, Clerk
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BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
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By:
Mayor/Chairman
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Page 2 of 2 Pages
Res Extend Due Date MKCL T SHIP Mtg
On Woods Corner to 3/31/2010