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U <br />Mr. Rod Visser <br />Page 2 <br />October 30, 2003 <br />amount greater than the total of the new Hess bank loan of <br />$197,000.00 plus the deferred loan made possible by the Hazard <br />Mitigation Grant of $17,070.00. I therefore think it is acceptable <br />for Orange County to agree to subordinate its lien on the property <br />to the lien for the Hesses' home mortgage. <br />I have enclosed a copy of the subordination agreement which <br />will need to be completed. I recommend that this matter be placed <br />on the County Commissioners consent agenda for Board of <br />Commissioner consideration and for Board authorization for the <br />execution of the subordination agreement on behalf of Orange <br />County. <br />GEG /lsg <br />Enclosures <br />xc: Linnie W <br />Very truly yours, <br />COLEMAN, GLEDHILL, HARGRAVE & PEEK, P.C. <br />Causey, Esquire <br />1sg :1etters \visserhesssubagmt, 1tr <br />