HomeMy WebLinkAboutHIL 8212301177 City of Renton
Home improvement Loan Program c-k-6-
. Loan Agreement
THIS AGREEMENT is entered' into this /5"&) day of
, 19 aZ_b
dieGPAII&Y' etween the CITY OF RENTON, hereinafter referred
to as the "City", KING COUNTY, hereinafter referred to as the "County", and
Joyce Troyer , hereinafter referred to as the
N "Applicants."
WHEREAS low and moderate income homeowners have demonstrated a
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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l 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 6-6%, day of
jkb1/64c , 19 8
APPLICANT'S SIGNATURE: FOR THE CITY OF RENTON:
(1)3/1
ti�� 13 a w 4,. Skrtelk
MAYOR (._. _
��,
ATTEST: ic-,co- e )7
Z`o - -
City Clerk
FOR KING COUNTY:
DIRECTOR, EPARTMENT OF PLANNING AND
COMMUNITY DEVELOPMENT
YGU ; ,, COUNTY IN
GUST r VICE' Clld it l'l�lr Y�+�• O
tov GU.,T A� ES, EOURL HOUSING H,N` C .
.'RS ROBERT CURRY OPPORTUNITIES �w``
ROEERT A.O'NEILI.
JOIRY ROBINSON
HOUSING REHABILITATION DEPAR7MI 1.
fye,olive Director. a'
JIM WILEY
EXHIBIT "A"
KING COUNTY HOUSING REPAIR AGREEMENT
NAME : Joyce Troyer
JOB NO. RT-82-098
ADDRESS :
424 Williams Ave . S . PHONE : 255-5191
Renton
Under the terms of the Housing Repair Program, eligible repairs a;
Health, Safety Energy Conservation and Building Preservation , to l
accomplished in that order of priority .
ELIGIBLE REPAIRS
Tear out tuh ericlosure and repair any damaged wall structure in
upper hath . Install waterproof sheetrock and new enclosure .
Plumbing repairs to include proper water and waste for upper tub
and new tub./shower valve . Repair faucets in Titchen and lower
bath . Install proper waste vents within wall for both baths .
Repair leak in main waste . Til repairs to comply with code .
Repair damaged ceiinszinslower
robath
hnand
d fikitchen . Repair walls
of upper bath . Install
Repair subfloor and install plywood underlayment in upper bathrou
Install new vinyl floorcoverin9 .
Make necessary repairs to kitchen underlayment and install
vinyl floorcovering (vinyl not to exceed $14/yd) .
Frame for and install finished solid core basement door . Include
new hardware .
Install new locksets for kitchen and livingroom doors and door IA,
basement .
Install new gutters and downspouts (either continuous aluminum Ui
PVC ) Comply with manufacturer ' s instructions .
Install electrical circuits to provide additional receptacles u
all rooms . Install wall switches for all lights which are now
operated with pull chains .
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The estimate of, the total cost of the above list of repair is $ 4r
This estimate is based on current costs of similar repairs, howevc
eachJ'ob is different and costs vary , therefore actual :oosts will
established by bid proposals .
I acknowledge and agree that this list of repairs is complete and
estimate is reasonable . I further understand that the total amour
available for all repairs is $ 4000 and I will assist in the st
of the contractors to accomplish the repair within the dollar limi
It is agreed that any changes in the above list of repairs must bt
approved by myself and the Housing Authority prior to authorizing
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the work t��� proceed . -- --)
ACCEPTED : — —
t� -
Homeowner H,,mn,..nr'^ -- __
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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 J CQ�v,k(- /90.2_
2
2. This note is secured by mortgage of even date herewith from
Joyce Troyer , 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.
atis-
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.
S -ned: Address:
424 Williams Avenue South
Renton, Washington 98055
RrCOR[1Fn ltil`: (W
• EXHIBIT CUEC 3f3, 3 06 PM 'F
(C) MORTGAGE 8`. THE. 0 viiuN OF
REt'OkD h ELECTION`,
KINC; COUNTY
THIS INDENTURE MADE THIS /5 day of , (0444.hL , 19 9.2,.. between
Joyce Troyer
mortgagor,
and King County, mortgagee; •
WITNESSETH:
That the mortgagor , for and in consideration of a sum not to exceed S4,000.00
1`
r* which sum shall be equal to the cost of completing the agreed-upon repairs on the below-
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o described property pursuant to the King County Housing Repair Program, authorized by
cv,
King County Ordinance 3269, as amended, do by these presents mortgage, grant, bargain,
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:
(424 Williams Avenue South, Renton, Washington)
Lot 7, Block 19, Town of Renton, according to the plat recorded in
Volume 1 of Plats, page 135, in King County, Washington, Except the East
5 feet thereof heretofore condemned in King County Superior Court Cause
No. 93525 for Alley, as provided by Ordinance No. 333 of the City of
Renton.
SUBJECT TO: All easements, restrictions, reservations of record, if any.
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82./12/30 #1177
RECD F .00
CASHSL ),:*:+:*:*.00
22
This conveyance is intended as a mortgage to secure the payment of a sum not to
exceed S4,000.0q which shall be equal to the cost of completing the agreed-upon repairs
on the above described property, such sum payable to King Ccunty according to the terms
and conditions of that certain Promissory Note bearing date / , r 2sr Lr,
and all renewals, modifications and extensions thereof, and also securing
such further sums as.may be advanced or loaned to mortgagor by the mortgagee. These
presents shall be void if such payment be made according to terms and conditions
thereof.
Payment on the Promissory Note and all renewals, modifications and extensions
thereof incorporated by this Mortgage shall be made to King County Revenue Account No.
36989 for Housing and Communty Development loan payment.
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But in ease 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 he 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 '
rdudgement that may be recovered, a reasonable sum as attorney fees, together with all
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olsums paid by the mortgagee on account of taxes, liens, assessments, abstracts or title
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insurance charges, cost of searching records, interest, and fire insurance, with inter-
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ap
est at 12% per annum from date of payment.
IN WITNESS WHEREOF, the mortgagor hereunto set hand the day and year
first above written.
40e a--
STATE OF WASHINGTON )
ss.
COUNTY OF KING )
On this 1 5 day of 4k-ctp rn( . ) , A.D. 1912, before me,
the undersigned, a notary public in and for the State of Washington, duly commissioned
and sworn personally appeared c) n yc p_ Li �r o v�
to me known to be individual describe4 in and who executed the foregoing instrument,
and acknowledged to me that ...4 . signed and
sealed the said instrument as 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 certif1- .
tate above written.
SUESCRIBED AND SWORN to before me this
/S day of. _ �'�►-rt ,.1. 19 :
621, P
NOTARY PUBLIC in and for tie State
Washington, residing at fc
aiAND for !turd at noloa of
Mail to:
King County Housing Rehabilitation
1718 Smith Tower
Seattle, WA 98104
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