HomeMy WebLinkAboutHIL 8212301182 • T
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City of Renton
Home 'Improvement Loan Program c4 o7s-8 z
. Loan Agreement
THIS AGREEMENT is entered into this 20th day of
December , 1982 , between the CITY OF RENTON, hereinafter referred
to as the "City", KING COUNTY, hereinafter referred to as the "County", and
Max E. Downing , hereinafter referred to as the
"Applicants."
WHEREAS low and moderate income homeowners have demonstrated a
I v need for financing assistance in repairing their homes, and it is in the
interest of the City to maintain the quality of the housing stock, the City
will assist qualified applicants in securing an interest-free loan;
WHEREAS, the City will make available to qualifying applicants
housing repair financing up to a maximum of $4,000 to be made available from
federal Block Grant funds under the Housing and Community Development Act of
1974, Pub. L. 93-383;
WHEREAS, the City has determined that the applicants are qualified
to participate in the City of Renton Home Improvement Loan Program; and
WHEREAS, the Applicants have agreed with the City on the necessary
repairs to be covered by the loan agreement.
NOW, THEREFORE, in consideration of their mutual promises herein-
after contained, the parties agree as follows:
1. Duty of Applicants. The Applicants agreee to execute and
give to the County an interest-free note and mortgage of even date, copies of
which are attached hereto and incorporated by reference herein as Exhibits B
and C, for the purpose of repaying to the City through the County the amount
of the loan;
2. AMOUNT OF FINANCING. The amount for which the applicants
are liable to repay the County through the above referenced note and mortgage
shall be an amount not in excess of $4,000. The cost of the agreed-upon
repairs shall be exactly determined at the time of completion. Such cost is
estimated to be $ 4.000 , according to the work schedule attached hereto
and incorporated by reference as Exhibit A.
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3. Duty of the City and County. The City and its contractor,
the Housing Authority of the County of King, shall be authorized to undertake
and complete the agreed-upon repairs, and King County shall reimburse the City
with Block Grant funds in accordance with the City/County Community
Development Block Grant contract.
IN WITNESS THEREOF, the applicants, the City and the County,
through designated responsible official, set their hands this 01.60"rt day of
, 19)q
APPLICANT'S SIGNATURE: FOR THE CITY OF RENTON:
1//1441V4 61Ar'
MAYOR
ATTEST:
City Clerk
FOR KING COUNTY:
•' Q l [ Y.
' E TOR, DEPARTMENT OF PLANNING AND
COMMUNITY DEVELOPMENT
,AII3HV.iLIc t ,,,,,,, , ._. HOUSING AUTHORITY
' ROY GUST'T VES AV,cr Chaic , , OF the
PS. HOPE RI m•�r FOUAI MOUSING COUNTY O F KING
RtI(,fT
RA O'NE IL E
OPPORTUNITIESHOUSING
JL R -Y RORINSONWASHINGTON
f�r,ut �e DRr,fOl
JIM WI E Ev HOUSING REHABILITATION DEPAR7M£N7
EXHIBIT "A"
KING COUNTY HOUSING REPAIR AGREEMENT
NAME : Max Downing
JOB NO. RT-82-100
ADDRESS : 907 N . 35th
PHONE :
Renton
Under the terms of the Housing Repair Program, eligible repairs are
Health, Safety Energy Conservation and Building Preservation , to be
accomplished in that order of priority.
ELIGIBLE REPAIRS
Repair fire damage in bedroom and livingroom area . Install new
wall studs for bedroom walls . Include new plate material for wall
between bedroom and livingroom. Wall sheathing and siding to remain .
Replace all ceiling joists in bedroom and damaged joists in living-
room. Replace closet subfloor above damaged ceilings . Install
R-11 roll insulation in bedroom walls . Finished sheetrock to be
installed on ceilings of both rooms and on livingroom west wall
and all walls of bedroom . Install underlayment and vinyl floor-
covering in bedroom ( includes cove base) . Frame for and install
door to bedroom together with hardware and casing .
Install new insulated glass aluminum windows in existing openings
in bedroom (include screen) . Large window to be vented in compliance
with egress code . Trimwork to include window liners and new brick
mold . Replace broken window pane upstairs .
Check electrical service and general house wiring for safety.
Make necessary corrections to any hazardous conditions . Install
ceiling light in bedroom and lights for stairway landing and base
( to be operated with three way switch) . Repair kitchen light .
Install receptacle circuit for bedroom and livingroom. Install new
thermostat for bathroom baseboard unit . Please indicate whether
panel has the capacity for new baseboard in bedroom. If so include
this installation) .
Install proper vertical supports for main beam in crawl area .
New posts to bear on concrete piers. Remove earth-wood contact of
bearing structural members . Install three additional posts to
support two main beams in basement area , and support on concrete
piers . Reconstruct damaged platform supporting hot water tank .
Repair broken bottom step on basement stairway.
Install new drain for lay .
Install new lockset for front door .
Submit separate prices for both of the following repairs:
Install insulated aluminum replacement windows in livingroom (z ) ,
dining (2) , kitchen ( 2 ) , and bath(1 ) including screens .
Install underlayment and vinyl floorcovering in kitchen including
cove base (vinyl not to exceed $14/yd) .
The estimate of the total cost of the above listof repair is $ 4000
This estimate is based on current costs of similar repairs , how e
each job is different and costs vary, therefore actual :costs will be
established by bid proposals.
I acknowledge and agree that this list of repairs is complete and the
estimate is reasonable . I further understand that the total amount
available for all repairs is $ 4000 and I will assist in the selection
of the contractors to accomplish the re air
r
It is agreed that any changes in the above listhin of repairsthelmustlbet .
approved by myself and the Housing Authority prior to authorizing
the work to proceed.
ACCEPTED:
Homeow{{E,r — 4 ..
Homeowner
E . ! \',: HII, TON:9":-,1F,: F PHONE 1.' 0174 7-6')
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EXHIBIT B
KING COUNTY, WASHINGTON
PROMISSORY NOTE _ DATE: December 20, 1982
For value received, the undersigned, jointly and severally, promise
to pay to the order of King County in the manner following a sum necessary for '
completion of the agreed-upon repairs on the undersigned's property, such sum
estimated to be $ 4,000 but to be exactly determined at the time of com-
pletion of the repairs:
1. This note is given in accordance with the terms of a loan agree-
ment between the parties hereto dated December 20, 1982
2. This note is secured by mortgage of even date herewith from
Max E. Downing , Mortgagor, to King County,
Mortgagee, encumbering certain real estate therein described and duly recorded
in the Division of Records and Elections, King County, Washington.
3. It is hereby agreed that payment of said sum shall become due and •
owing when the real estate described in the subject mortgage is sold, conveyed
or transferred.
4. Each maker and endorser of this note hereby waives presentment,
demand, protest and notice of dishonor and hereby agrees to remain bound for
the payment of this note notwithstanding any extension or extensions of time
payment of it or of any part of it made by agreement with any one or more of
the parties hereto either before or after maturity.
5. Each maker and endorser of this note has the right to pay in full
the principle sum of this note, according to a schedule of payment agreeable
to the County, at any time prior to the said sum becoming due and sowing, in
which case the obligation represented by this note shall be deemed fully satis-
fied.
6. If payment of this note or any partial payment thereof shall not
be made at maturity and any action is brought to enforce collection thereof,
the undersigned agrees to pay cost of attorney fees incurred in such action.
Signed: Address:
v 907 North 35th Street
Renton, Washington 98056
• EXHIBIT C
MORTGAGE
THIS INDENTURE MADE THIS 20th day of December , 1982 , between
Max E. Downing , mortgagor,
and King County, mortgagee; •
WITNESSETH:
That the mortgagor , for and in consideration of a sum not to exceed S4,000.00
aD which sum shall be equal to the cost of completing the agreed-upon repairs on the below-
e-I
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0 described property pursuant to the King County Housing Repair Program, authorized by
King County Ordinance 3269, as amended, do by these presents mortgage, grant, bargain,
n,
cia sell, convey, and confirm unto the mortgagee, and to its assigns, the following
described real estate, together with all and singular tenements, hereditaments, and
appurtenances there unto belonging:
LEGAL DESCRIPTION: (907 North 35th Street, Renton, Washington)
Lot #3, block #19, (Code 2105) : Hillmans` Lake Washington Garden
of Eden and for vacated alley. RECORDED 1 Wfit
DEC 30 3 46 PO I.
Di'v.�1014 O'
RECORDS A. 1=L€Cift
KING COW. Y
• 82/12,30 #1. 1.• .
REC:G F .00
CASHS,L
22
This conveyance is intended as a mortgage to secure the payment of a sum not t
exceed $4,000.0(1 which shall be equal to the cost of completing the agreed-upon repair
on the above described property, such sum payable to Kin; County according to the tern
and conditions of that certain Promissory Note bearing date Decembgj 20, 198,
and all renewals, modifications and extensions thereof, and also securir
such further sums as may be advanced or loaned to mortgagor by the mortgagee. The
presents shall be void if such payment be made according to terms and conditioi
thereof.
Payment on the Promissory Note and all renewals, modifications and extensio
. thereof incorporated by this Mortgage shall be made to King County Revenue Account N
36989 for Housing and Communty Development loan payment.
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But in case default be made in the payment of the principal sum of said promissory
note and all renewals, modifications and extensions thereof, when the same shall be -due
and payable, according to the terms and conditions thereof, then the mortgagee is hereby
empowered to sell said premises, with all and every of the appurtenances, or any part
thereof, in the manner prescribed by law, and out of the money arising from such sale to
retain the whole of said principal sum, together with the costs and charges of such
sales, and the surplus, if any there be, shall be paid by the mortgagee making such sale,
on demand, to the mortgagor , heirs or assigns. And in any suit or other
proceeding that may be had for the recovering of said principal sum, on either said note
or this mortgage, it shall and may be lawful for the mortgagee to include in the •
04
00 judgement that may be recovered, a reasonable sum as attorney fees, together with all
co sums paid by the mortgagee on account of taxes, liens, assessments, abstracts or title
insurance charges, cost of searching records, interest, and fire insurance, with inter-
Cst
00 est at 12% per annum from date of payment.
IN WITNESS WHEREOF, the mortgagor)oef/hereunto set 4"4'handz: the day and year
first above written.
aLt" ,
STATE OF WASHINGTON )
ss.
COUNTY OF KING —
On this _ `- 0 day of //'/y ,�'�Qom/ , A.D. 198,1, before me,
the undersigned, a notary pdt-it in and for the State of Washington, 617-commissioned
and sworn personally appeared /)2ev C, �n v� ;7.
to me known to be individual described in and who executed the foregoing instrument,
and acknowledged to me tha ___ signed and
sealed the said instrument as _ g
free and voluntary
act and deed for the uses and purposes therein mentioned.
WITNESS my hand and official seal hereto affixed the day and year in this certifi- ,
tate above written.
SUES'CRIB D At -,,SWORN to before me this
day of G eeQ� , 19
NOT RY ri.IBLf ?in and for the State of
Washingtor1., residing at ,i , -
'
. 1 iv . .*,tet
Mail to: c,t - •+ i I Qt
King County Housing Rehabilitation •
1718 Smith Tower
Seattle, WA 98104
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