Staff recommends approval of the Satisfaction of Mortgage and acknowledgment of full payment of said note.
Mr. and Mrs. Russell received a Community Development Block Grant (CDBG) Rehabilitation Program Deferred Payment Loan of $13,110.00 January 8, 2001. Mr. and Mrs. Russell were awarded the funding to rehabilitate their home based on program criteria and a commitment to stay in the home during the five year deferment period.
1. Approve 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 X No ______
Advertised: ____Not Required X
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. __________________
Deputy C.M. ___________________
City Manager ___________________
Account No. _________________
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A SATISFACTION OF MORTGAGE FOR HOWARD AND GENIVIEVE RUSSELL 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 Howard and Genivieve Russell whose address is Waitman Avenue, 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 27th day of August 2007.