HomeMy WebLinkAboutResolution 218-1997
RESOLUTION 218-1997
A RESOLUTION APPROVING MORTGAGE MODIFICATION
AGREEMENT AND MORTGAGE ASSUMPTION TO MONROE
COUNTY RENTAL REHABILITATION MORTGAGE ON THE
PROPERTY KNOWN AS SEA CREST OF MARATHON, 204 91 ST
STREET, OCEAN, MARATHON, FLORIDA AND AUTHORIZING
EXECUTION OF SAME.
WHEREAS, on December 1, 1991, a Monroe County Rental Rehabilitation
Program Mortgage and Note were executed and subsequently recorded on the
property known as Sea Crest of Marathon, 204 91st Street, Marathon, Florida
in the amount of $28,000,00; and
WHEREAS, only a total of $15,000.00 of U.S. HUD Rental Rehabilitation
matching funds were applied for and used by the owners in the rehabilitation;
and
WHEREAS, the new owners have requested assumption of the mortgage and
responsibility of its covenants without increasing any other recorded debt on
the property.
THEREFORE BE IT RESOL YED, the Board of County Commissioners
hereby authorizes:
1, Execution of a Mortgage Modification Agreement in the amount
of $15,000.00,
2. Execution of Assumption of Mortgage by the new owners, John
and Louise Rathbun.
PASSED and ADOPTED, by the Board of County Commissi()!ters of,-" -rt
Monroe County, Florida, at a regular meeting of said Board hefg~~ ~ ~
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Danny Kohlage, Clerk of the Court
Reviewed for legal sufficiency
Mayor Douglass
Mayor Pro Tern London
Commissioner Freeman
Commissioner Harvey
Commissioner Reich
yes
yes
absent
yes
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