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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 26, 1996 <br /> SUBJECT: Housing Rehabilitation Program —Release Deed <br /> ------------------------------------------------------------------------------------ <br /> DEPAR714ENT: Housing/Comm. Dev. PUBLIC HEARING YES_ NO —X- <br /> ----------------------- ------------------------------------------------------------- <br /> ATTACHMENT(S) : INF0RI4ATI0N CONTACT <br /> Release Deed Tara L. Fikes, x 2490 <br /> TELEPHONE NUMBER <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> -------------------------------------------------------------------------------------- <br /> PURPOSE: To authorize the execution of a Release Deed by the Chair of the Orange <br /> County Board of Commissioners in conjunction with the County's Housing Rehabilitation <br /> Program. <br /> BACKGROUND: All houses repaired under the County's Housing Rehabilitation Program are <br /> completed under a Deferred Loan Program. The County's investment is secured for a <br /> specified time period by a Promissory Note and Deed of Trust with the later document <br /> recorded in the Register of Deed's office. <br /> On or about November 30, 1995, the County had a Deed of Trust executed to cover the <br /> Housing Rehabilitation work performed at the home of Juanita Pride. This Deed of Trust <br /> secured property which included her house as well as 1.93 acres of land. Apparently, <br /> the owner thought that the property she owned had been legally divided into two lots. <br /> She now wishes to convey .99 acres of this property to her grandson so that he may build <br /> a home. In order to do this, the County must release their Deed of Trust on the 1.93 <br /> acre tract of land, allow the property to be subdivided with into one .99 acre and .94 <br /> acre tract, and have another Deed of Trust executed by Ms. Pride to secure the County's <br /> investment in her house and the remaining .94 acre parcel of land. <br /> The County Attorney has reviewed and approved the attached Release Deed. <br /> RECOMMENDATION: <br /> The Manager recommends authorizing the execution of a Release Deed by the Chair of the <br /> Orange County Board of Commissioners in conjunction with the County's Housing <br /> Rehabilitation Program. <br />