Resolution 468-2003
Rev. 01/03
RESOLUTION 468
- 2003
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF MONROE
COUNTY, FLORIDA AUTHORIZING MONROE COUNTY'S STATE HOUSING
INITIVATIVE PARTNERSHIP (SHIP) PROGRAM ADMINISTRATOR TO EXECUTE SHIP
MORTGAGE SUBORDINATIONS
WHEREAS, Monroe County provided Habitat for Humanity of the Upper Keys, Inc. four mortgage
loans under the Monroe County State Housing Initiatives Partnership (SHIP) Programs, Homeownership
Development strategy for the construction of four single family affordable homeowners hip units, and;
WHEREAS, the Monroe County Board of County Commissioners has previously approved the
assumption and assignment of said mortgages from Habitat for Humanity of the Upper Keys, Inc. to the
eligible homebuyers , and;
WHEREAS, Habitat for Humanity of the Upper Keys, Inc. intends to provide homebuyers a no cost
mortgage loan which contain terms which provide for affordable resale and ensure long term
affordability, and;
WHEREAS, it is customary and had been intended that the Monroe County SHIP mortgages be second
and/or junior to the mortgage of the primary lender, Habitat for Humanity of the Upper Keys, Inc., and;
NOW, THEREFORE, BE IT RESOLVED, by the Board of County Commissioners of Monroe County,
Florida, that the County hereby:
Authorizes Monroe County's State Housing Initiatives Partnership (SHIP) Program
Administrator to execute SHIP mortgage subordinations of four existing mortgages to
Habitat for Humanity of the Upper Keys, Inc, for four properties located in the Winston
Park subdivision, Key Largo, as attached hereto.
PASSED AND ADOPTED, by the Board of County Commissioners of Monroe County, Florida at a
regular meeting on said Board on the 15th day of October, A.D., 2003
BOARD OF COUNTY COMMISSIONERS
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Page 1 of 1
AGREEMENT TO SUBORDINATE LOAN
THIS AGREEMENT made this
day of October, 2003 between MONROE COUNTY,
herein referred to as "Lienholder," having its principal office at Monroe County Courthouse, 500
Whitehead Street, Key West, FL 33040, and HABITAT FOR HUMANITY OF THE UPPER KEYS,
INC., herein referred to as "Lender", a Non-Profit Corporation organized under the laws of the State of
Florida.
THE PARTIES STIPULATE AND RECITE THAT:
A. By reason of that Mortgage given by Lienholder to Habitat for Humanity of the Upper
Keys, Inc., a Non-Profit Corporation, herein referred to as "Lender," in the amount of SIXTEEN
THOUSAND NINE HUNDRED FIVE DOLLARS AND SIXTY TWO CENTS ($16,905.62), dated the
25th day of July 2003 and recorded the 25h day of July 2003 in Official Records Book 1912, Page 626
upon the property hereinafter described,
Lot 5, Block 1, Winston Park Subdivision, according to the Plat thereof as recorded in Plat Book
4, Page 104 of the Public Records of Monroe County, Florida
Which has the street address of 987 Valencia Road. Key Largo. Florida 33037
H. Owner desires to negotiate a loan from Lender, and Lienholder acknowledges that such
loan is in his best interest.
1. Lender is willing to loan money to Owner if Lienholder will subordinate his present lien
against the above-described property of Owner.
FOR THE REASONS SET FORTH ABOVE AND IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES OF THE PARTIES HERETO, LIENHOLDER AND LENDER
AGREE AS FOLLOWS:
The lien of Lienholder against the above-described property of Owner shall be subordinate to the
claim of Lender under the Mortgage Deed (security agreement) executed by Owner, dated the _ day
of 200_ and recorded on the of 200_ in O.R. Book
, Page , of the Public Records of Monroe County, Florida. Future loans made by
Lender to Owner shall not be subordinate to the claims of Lienholder.
Lienholder shall assign to Lender all sums presently due to Lienholder from Owner until the
above-described loan of Lender is paid in full. Lienholder shall execute such additional assignments as
Lender may require to give effect to this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement at Monroe County, State of
Florida, the day and year first above written.
WITNESSES
MONROE COUNTY
By:
Witness Signature
Printed Name:
J. Manuel Castillo, Sr., SHIP Administrator
Witness Signature
Printed Name:
STATE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of , 20_ before me, an officer duly qualified to take
acknowledgments, personally appeared , to me
known to be the personls described in and who executed the foregoing instrument and acknowledged before me that he/they
executed the same.
SEAL
NOTARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires:
HABIT A T FOR HUMANITY OF THE UPPER KEYS, INC.
Witness Signature
Printed Name:
By:
Title:
Witness Signature
Printed Name:
STA TE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of 20_ before me, an officer duly qualified to take
acknowledgments. personally appeared , to me
known to be the personls described in and who executed the foregoing instrument and acknowledged before me that helthey executed the
same. Drivers License shown as identification.
SEAL
NOTARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires:
AGREEMENT TO SUBORDINATE LOAN
THIS AGREEMENT made this
day of October, 2003 between MONROE COUNTY,
herein referred to as "Lienholder," having its principal office at Monroe County Courthouse, 500
Whitehead Street, Key West, FL 33040, and HABIT A T FOR HUMANITY OF THE UPPER KEYS,
INC., herein referred to as "Lender", a Non-Profit Corporation organized under the laws of the State of
Florida.
THE PARTIES STIPULATE AND RECITE THAT:
A. By reason of that Mortgage given by Lienholder to Habitat for Humanity of the Upper
Keys, Inc., a Non-Profit Corporation, herein referred to as "Lender," in the amount of THIRTEEN
THOUSAND EIGHT HUNDRED NINETY THREE DOLLARS AND FIFTY CENTS ($13,893.50),
dated the 25th day of July 2003 and recorded the 25h day of July 2003 in Official Records Book 1912,
Page 639 upon the property hereinafter described,
Lot 20, Block 1, Winston Park Subdivision, according to the Plat thereof as recorded in Plat
Book 4, Page 104 of the Public Records of Monroe County, Florida
Which has the street address of 982 Gibraltar, Key Largo. Florida 33037
B. Owner desires to negotiate a loan from Lender, and Lienholder acknowledges that such
loan is in his best interest.
C. Lender is willing to loan money to Owner if Lienholder will subordinate his present lien
against the above-described property of Owner,
FOR THE REASONS SET FORTH ABOVE AND IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES OF THE PARTIES HERETO, LIENHOLDER AND LENDER
AGREE AS FOLLOWS:
The lien of Lienholder against the above-described property of Owner shall be subordinate to the
claim of Lender under the Mortgage Deed (security agreement) executed by Owner, dated the _ day
of 200_ and recorded on the of 200_ in O.R. Book
, Page
, of the Public Records of Monroe County, Florida. Future loans made by
Lender to Owner shall not be subordinate to the claims of Lienholder.
Lienholder shall assign to Lender all sums presently due to Lienholder from Owner until the
above-described loan of Lender is paid in full. Lienholder shall execute such additional assignments as
Lender may require to give effect to this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement at Monroe County, State of
Florida, the day and year first above written.
WITNESSES
MONROE COUNTY
By:
Witness Signature
Printed Name:
J. Manuel Castillo, Sr., SHIP Administrator
Witness Signature
Printed Name:
STA TE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of , 20_ before me, an officer duly qualified to take
acknowledgments, personally appeared , to me
known to be the personls described in and who executed the foregoing instrument and acknowledged before me that he/they
executed the same.
SEAL
NOTARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires:
HABIT A T FOR HUMANITY OF THE UPPER KEYS, INC.
Witness Signature
Printed Name:
By:
Title:
Witness Signature
Printed Name:
STA TE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of 20_ before me, an officer duly qualified to take
acknowledgments. personally appeared . to me
known to be the personls described in and who executed the foregoing instrument and acknowledged before me that he/they executed the
same. Drivers License shown as identification.
SEAL
NOTARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires:
AGREEMENT TO SUBORDINATE LOAN
THIS AGREEMENT made this
day of October, 2003 between MONROE COUNTY,
herein referred to as "Lienholder," having its principal office at Monroe County Courthouse, 500
Whitehead Street, Key West, FL 33040, and HABITAT FOR HUMANITY OF THE UPPER KEYS,
INC., herein referred to as "Lender", a Non-Profit Corporation organized under the laws of the State of
Florida.
THE PARTIES STIPULATE AND RECITE THAT:
A. By reason of that Mortgage given by Lienholder to Habitat for Humanity of the Upper
Keys, Inc., a Non-Profit Corporation, herein referred to as "Lender," in the amount of SIXTEEN
THOUSAND THREE HUNDRED EIGHT DOLLARS AND EIGHTY SEVEN CENTS ($16,308.87),
dated the 25th day of July 2003 and recorded the 25h day of July 2003 in Official Records Book 1912,
Page 633 upon the property hereinafter described,
Lot 6 , Block 1, Winston Park Subdivision, according to the Plat thereof as recorded in Plat
Book 4, Page 104 of the Public Records of Monroe County, Florida
Which has the street address of 985 Valencia Road, Key Largo, Florida 33037
D. Owner desires to negotiate a loan from Lender, and Lienholder acknowledges that such
loan is in his best interest.
E. Lender is willing to loan money to Owner if Lienholder will subordinate his present lien
against the above-described property of Owner.
FOR THE REASONS SET FORTH ABOVE AND IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES OF THE PARTIES HERETO, LIENHOLDER AND LENDER
AGREE AS FOLLOWS:
The lien of Lienholder against the above-described property of Owner shall be subordinate to the
claim of Lender under the Mortgage Deed (security agreement) executed by Owner, dated the _ day
of 200_ and recorded on the of 200_ in O.R. Book
, Page
, of the Public Records of Monroe County, Florida, Future loans made by
Lender to Owner shall not be subordinate to the claims of Lienholder.
Lienholder shall assign to Lender all sums presently due to Lienholder from Owner until the
above-described loan of Lender is paid in full. Lienholder shall execute such additional assignments as
Lender may require to give effect to this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement at Monroe County, State of
Florida, the day and year first above written.
WITNESSES
MONROE COUNTY
By:
Witness Signature
Printed Name:
J. Manuel Castillo, Sr., SHIP Administrator
Witness Signature
Printed Name:
STA TE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of, 20_ before me, an officer duly qualified to take
acknowledgments, personally appeared , to me
known to be the personls described in and who executed the foregoing instrument and acknowledged before me that he/they
executed the same.
SEAL
NOTARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires:
HABIT A T FOR HUMANITY OF THE UPPER KEYS, INC.
Witness Signature
Printed Name:
By:
Title:
Witness Signature
Printed Name:
STA TE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of 20_ before me, an officer duly qualified to take
acknowledgments, personally appeared , to me
known to be the personls described in and who executed the foregoing instrument and acknowledged before me that helthey executed the
same. Drivers License shown as identification.
SEAL
NOT ARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires:
AGREEMENT TO SUBORDINATE LOAN
THIS AGREEMENT made this
day of October, 2003 between MONROE COUNTY,
herein referred to as "Lienholder," having its principal office at Monroe County Courthouse, 500
Whitehead Street, Key West, FL 33040, and HABITAT FOR HUMANITY OF THE UPPER KEYS,
INC., herein referred to as "Lender", a Non-Profit Corporation organized under the laws of the State of
Florida.
THE PARTIES STIPULATE AND RECITE THAT:
A. By reason of that Mortgage given by Lienholder to Habitat for Humanity of the Upper
Keys, Inc., a Non-Profit Corporation, herein referred to as "Lender," in the amount of THIRTEEN
THOUSAND SEVEN HUNDRED EIGHTY TWO DOLLARS AND TWENTY FIVE CENTS
($13,782.25), dated the 25th day of July 2003 and recorded the 25th day of July 2003 in Official Records
Book 1912, Page 610 upon the property hereinafter described,
Lot 22, Block 1, Winston Park Subdivision, according to the Plat thereof as recorded in Plat
Book 4, Page 104 of the Public Records of Monroe County, Florida
Which has the street address of 986 Gibraltar. Key Largo. Florida 33037
F. Owner desires to negotiate a loan from Lender, and Lienholder acknowledges that such
loan is in his best interest.
G. Lender is willing to loan money to Owner if Lienholder will subordinate his present lien
against the above-described property of Owner.
FOR THE REASONS SET FORTH ABOVE AND IN CONSIDERATION OF THE MUTUAL
COVENANTS AND PROMISES OF THE PARTIES HERETO, LIENHOLDER AND LENDER
AGREE AS FOLLOWS:
The lien of Lienholder against the above-described property of Owner shall be subordinate to the
claim of Lender under the Mortgage Deed (security agreement) executed by Owner, dated the _ day
of
2003 and recorded on the
of
2003 in O,R. Book
, Page , of the Public Records of Monroe County, Florida. Future loans made by Lender
to Owner shall not be subordinate to the claims of Lienholder.
Lienholder shall assign to Lender all sums presently due to Lienholder from Owner until the
above-described loan of Lender is paid in full. Lienholder shall execute such additional assignments as
Lender may require to gi ve effect to this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement at Monroe County, State of
Florida, the day and year first above written.
WITNESSES
MONROE COUNTY
By:
Witness Signature
Printed Name:
J, Manuel Castillo, Sr" SHIP Administrator
Witness Signature
Printed Name:
STA TE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of , 20_ before me, an officer duly qualified to take
acknowledgments, personally appeared , to me
known to be the person/s described in and who executed the foregoing instrument and acknowledged before me that he/they
executed the same.
SEAL
NOTARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires:
HABITAT FOR HUMANITY OF THE UPPER KEYS, INC.
Witness Signature
Printed Name:
By:
Title:
Witness Signature
Printed Name:
STA TE OF FLORIDA COUNTY OF MONROE
I HEREBY CERTIFY that on this day of 20_ before me, an officer duly qualified to take
acknowledgments. personally appeared . to me
known to be the personls described in and who executed the foregoing instrument and acknowledged before me that helthey executed the
same. Drivers License shown as identification.
SEAL
NOT ARY PUBLIC SIGNATURE
Printed Name of Notary
Commission No.:
My Commission Expires: