HomeMy WebLinkAbout~Master - Agreement with ACCESS to secure repayment of purchase money RESOLUTION NO. 04-107
RESOLUTION APPROVING RESTRICTIVE COVENANT AND LIEN AGREEMENT
TO SECURE REPAYMENT OF PURCHASE MONEY
WITH THE ASSAULT CARE CENTER EXTENDING SHELTER
AND SUPPORT (ACCESS)
FOR THE CITY OF AMES
WHEREAS, pursuant to City Council action on December 23, 2003, an agreement with
ACCESS to provide for an $80,000 payment to be applied to the organization's new mortgage on
its new building(addressed as 313 Lynn)has been prepared; and,
WHEREAS, this will be a no-interest loan, payable at the time of sale of the new building
or ACCESS ceasing operations; and,
WHEREAS, the City will retain a lien against the new building and will file a satisfaction
of the lien on the old property.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Restrictive Covenant and Lien Agreement to Secure Repayment of Purchase Money with
the Assault Care Center Extending Shelter and Support (ACCESS) is hereby approved.
ADOPTED THIS 23rd day of March, 2004.
.- ?
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Wirth
Seconded by: Goodhue
Voting aye: Goodhue, Goodman, Mahayni, Vegge, Wirth
Voting nay: None Absent: None
Abstaining: Cross
Resolution declared adopted and signed by the Mayor this 23rd day of March, 2004.