Browse
Search
RES-1996-040 Resolution for Housing Rehabilitation Program Deferred Loan Program
OrangeCountyNC
>
Board of County Commissioners
>
Resolutions
>
1990-1999
>
1996
>
RES-1996-040 Resolution for Housing Rehabilitation Program Deferred Loan Program
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/26/2013 4:38:29 PM
Creation date
10/31/2013 4:32:03 PM
Metadata
Fields
Template:
BOCC
Date
9/17/1996
Meeting Type
Regular Meeting
Document Type
Resolution
Agenda Item
8f
Document Relationships
Agenda - 09-17-1996 - 8f
(Linked To)
Path:
\Board of County Commissioners\BOCC Agendas\1990's\1996\Agenda - 09-17-1996
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
Page 1 of 1
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
U F 3 <br /> RESOLUTION <br /> HOUSING REHABILITATION PROGRAM DEFERRED LOAN PROGRAM <br /> WHEREAS, the County provides funding in the form of deferred loans to homeowners to <br /> repair substandard housing ih the County; and <br /> WHEREAS, the County secures its monetary investment by the property owner executing <br /> a Promissory Note and Deed of Trust with the later being duly recorded in the Orange <br /> County Register of Deeds Office; and <br /> WHEREAS, from time to time before the expiration of the Deed of Trust and Promissory <br /> Note it may become necessary to re-negotiate the terms of the Promissory Note and Deed <br /> of Trust; <br /> NOW, THEREFORE, be it resolved by the Board of County Commissioners of Orange <br /> County, that the County Manager or his/her Assistant Managers as authorized by the <br /> County Manager has the authority to: <br /> 1. Subordinate the County Deed of Trust to security interest in the property for purchase <br /> or refinance to an amount, with the combination of the new loan and the County's lien, <br /> not to exceed 90% of the Fair Market Value of property. <br /> 2. Authorize the County Manager to sign a Release Deed or cancel a Deed of Trust and <br /> Promissory Note upon satisfaction. <br /> This the 17th day of September, 1996. <br />
The URL can be used to link to this page
Your browser does not support the video tag.