Staff recommends approval of the Satisfaction of Mortgage and acknowledges full payment of said note.
Ms. Fulmore received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan $38,380.00 on June 20, 2001. Ms. Fulmore was awarded the funding to rehabilitate her home based on program criteria and a commitment to stay in the home during the 5 year deferment period.
1. Approve the resolution accepting the Satisfaction of Mortgage; or
2. Such alternative action as the Commission may deem appropriate
Department: Housing & Economic Dev.
Prepared by: Tracie Hodge
Attachments: Yes____ No ______
Advertised: ____Not Required __X__
Attorney Review : Yes_X__ No ____
Reviewed by: Dept. Head ________
Finance Dept. __________________
Deputy C.M. ___________________
City Manager ______RS_____________
Account No. _________________
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A SATISFACTION OF MORTGAGE FOR STEPHANIE FULMORE FOR THE PURPOSE OF SATISFYING A MORTGAGE GIVEN TO SECURE A HOUSING REHABILITATION LOAN; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:
THAT the Mayor and City Clerk are hereby authorized to execute a Satisfaction of Mortgage for Stephanie Fulmore whose address is 2200 Jobbins Drive, Leesburg, Florida 34748, for the purpose of satisfying a mortgage given to secure a housing rehabilitation loan.
THAT this resolution shall become effective immediately.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the 8th day of January 2007.