HomeMy WebLinkAbout~Master - Release of Contract and Lien for 3815 Viola Mae 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. 00-296
RESOLUTION APPROVING RELEASE OF
CONTRACT AND LIEN FOR
3815 VIOLA MAE AVENUE
FOR THE CITY OF AMES,IOWA
WHEREAS, in 1997, Scott and Sheryl Arensdorf 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, Scott and Sheryl Arensdorf 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 were sold, rented, and/or unoccupied before the 30-year period has
ended; and,
WHEREAS,Scott and Sheryl Arensdorf received a total of$15,3 50 under this Program;and,
WHEREAS,the City will receive a check from the Arensdorfs in the amount of$15,3 50 after
closing on the sale on or before July 14, 2000, and City staff is requesting that the City Council
authorize the release of the Contract and Lien for property located at 3815 Viola Mae 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 3815 Viola Mae 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$15,350.
ADOPTED THIS 27th day of June, 2000.
c!A - Lx�l �4
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Quirmbach
Voting aye: Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: Campbell
Resolution declared adopted and signed by the Mayor this 27th day of June, 2000.