HomeMy WebLinkAbout~Master - Approving Release of Contract and Lien for 1608 Clark Avenue DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER
Prepared by:Diane R.Voss,Ames City Clerk,515 Clark,Ames,IA 50010 Phone:515/239-5105
RESOLUTION NO. 99-325
RESOLUTION APPROVING RELEASE OF
CONTRACT AND LIEN FOR
1608 CLARK AVENUE
FOR THE CITY OF AMES,IOWA
WHEREAS,in 1998,Jon and Kim Ashley were participants in the City's Phase IV Mortgage
Buy-down Affordable Housing Program to help low and moderate income first-time home buyers
purchase and rehabilitate existing single family homes; and,
WHEREAS,to receive financial assistance,Jon and Kim Ashley signed a contract and lien
agreement with the City that required an immediate payback of 100%of the no interest,30-year loan
if the property was sold, rented, and/or unoccupied before the 30-year period has ended; and,
WHEREAS, Jon and Kim Ashley received a total of$19,369 under this program; and,
WHEREAS,the City will receive a check from the Ashley's in the amount of$19,369 after
closing on the sale on or before September 4, 1999,and City staff is requesting that the City Council
authorize the release of the contract and lien for property located at 1608 Clark Avenue.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the release of the contract and lien for property located at 1608 Clark Avenue in connection with
the City's Phase IV Mortgage Buy-down Affordable Housing Program is hereby approved subject
to receipt of payment in the amount of$19,369.
ADOPTED THIS 31 st day of August, 1999.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Hoffman
Voting aye: Campbell, Cross, Hoffman, Parks, Quirmbach
Voting nay: None Absent: Wirth
Resolution declared adopted and signed by the Mayor this 31 st day of August, 1999.