HomeMy WebLinkAbout931097.tiff RESOLUTION
RE: APPROVE SUBORDINATION OF DEED OF TRUST WITH STEPHEN AND CHERIE GESICK AND
AUTHORIZE CHAIRMAN TO SIGN
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Subordination of Deed of Trust
between Stephen and Cherie Gesick and Weld County Housing Authority, with the
terms and conditions being as stated in said document, and
WHEREAS, after review, the Board deems it advisable to approve said
subordination of deed of trust, a copy of which is attached hereto and
incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, ex-officio Housing Authority Board, that the Subordination of
Deed of Trust between Stephen and Cherie Gesick and Weld County Housing Authority
be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign said document.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 25th day of October, A.D. , 1993.
/ F!< BOARD OF COUNTY COMMISSIONERS
ATTEST: /, 1 f ,. WELD COUNTY, COLORADO odomWeld County Clerk to the Board
I('y Constance L. H rbert,
Chairman
BY: l����{/ /CMS)
Deputy Clerk to the Board W. H/ Webster, ProyTem
APPROV S TO FORM: r. /1-1
e Baxter
ountyAttoorner /!' �' Dale K. Hall
EXCUSED DATE OF SIGNING (AYE)
Barbara J. Kirkmeyer
931097
0ot)-- CC,
SUBORDINATION OF DEED OF TRUST
By Deed of Trust dated August 28, 1990 and recorded in Book 1275 under
Reception Number 02225986 and recorded September 4, 1990, Weld County
Records, Stephen B. Gesick and Cherie L. Gesick conveyed to the Public
Trustee of Weld County Certain real property described therein to
secure an indebtedness payable to Weld County Housing Authority.
Cherie L Gesick has executed, or will execute, a Deed of Trust and Note
payable to Platteville State Bank conveying the same property.
For One Dollar and other good and valuable consideration Weld County
Housing Authority as holder of the indebtedness secured by the Deed of
Trust described above, hereby agrees that its Deed of Trust shall be
subordinate in all respects to the lien of the Deed of Trust of
Platteville State Bank and of the indebtedness secured by thereby, as
though the Deed of Trust of Platteville State Bank has been recorded
first.
Dated this r95 day of (DC+Okla•1J , 1993
Weld County Housing Authority
Constance L. Harbert, Chairman
10�3�IG3
STATE OF COLORADO )
ss.
COUNTY OF WELD
The foregoing instrument was acknowledged before me this day of
, 1993 by (ern'{-&nc, L, l .rberl- as Chairman of the Weld
County Housing Authority.
Witness my hand and official seal.
My commission expires: S -�C V kSC5L�ti_
1&X COMMISSION On+�lR S JAN, 1, 19`:.6 NOTARY PU
931097
‘er, WELD COUNTY HOUSING AUTHORITY
PRONE(303)35&1551
P.O. Box A
'4GREELEY,COLORADO 80632
i p C.
COLORADO er'
To: Constance L. Harbert, Chairman ` ,a'e40.- '�3T�ca-/!y .- 7::; it." <
From: Judy Griego, Director, Department of Social Services
Re: Approval of Subordination Request
Date: October 22, 1993
We have received a request from Cherie Gesick of Platteville to subordinate
the position of our lien held through the Weld County Housing Authority.
Her property was rehabbed in 1991 with a maturity date of August 28, 1995.
The original amount of the promissory note was $5,750 with $2,188 as a
straight loan and $3,045 as a deferred payment loan forgivable for each year
they occupy the home. Mrs. Gesick is continuing to pay on the straight loan.
The remaining balance of the deferred payment loan is $1,168.
Staff is recommending Board approval of the subordination request.
If you have any questions, please telephone me at 352-1551 ext. 6200.
n 931.097
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