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CAG 075-82
City of Renton
Home Improvement Loan Program C 07s--8Z
Loan Agreement
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THIS AGREEMENT is entered into this day of
�- �.Ce4u( , 1982-, between the CITY OF RENTON, hereinafter referred
to as the "City", KING COUNTY, hereinafter referred to as the "County", and
Beverly K. Stuth hereinafter referred to as the
"Applicants."
WHEREAS low and moderate income homeowners have demonstrated a
Nneed for financing assistance in repairing their homes, and it is in the
Cc ?"' 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
p 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.
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 1r1:" day of
, 19 �Y.
APPLICANT'S SIGNATURE: FOR THE CITY OF RENTON:
6i1DoreAkr(), c1.4kTk) #i*Ab*A.41) •S'kurtfoCekl
MAYOR
ate,/-City Clerk
FOR KING COUNTY:
�,• fc7Nv
DI' CTOR, DEPARTMENT OF PLANNING AND
COMMUNITY DEVELOPMENT
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EXHIBIT "A" .
KING COUNTY HOUSING REPAIR AGREEMENT
NAME : Beverly Stuth __ - JOB NO . RT-82-097
ADDRESS : 1829 Harrington N . E . PHONE : 271-5126
Renton
Under the terms of the Housing Repair Program , eligible repairs ar
Health , Safety Energy Conservation and Building Preservation , to t
accomplished in that order of priority .
ELIGIBLE REPAIRS
Remove bathtub and repair tub walls . Conceal shower plumbing with
in wall and replace valve . Install new steel tub together with
appropriate water and waste plumbing. Install waterproof sheetrock
and new enclosure . Remove window and enclose ( includes sheetrock .
R-11 insulation , wall sheathing, sidewall shakes ) . Install 2020
insulated glass aluminum slider (obscure glass with screen) at
foot of tub . Install new lay and vanity . Replace toilet (America)
Standard or equal ) . Install plywood underlayment and vinyl floorin'
Install stainless steel double bowl sink and faucet in kitchen .
Install laminate countertop ( approx 10 ' ) with self edge and back
splash equal to existing .
Install continuous aluminum gutters and downspouts . Include
concrete splashblocks .
_ Install finished solid core doors at front , back , and basement
entries . All doors to include new hardware , weatherstripping ,
_aluminum threshold and deadbolt lock . Install new sill for front
door . Install new door to basement bedroom. Includes new jamb ,
casing and hardware .
Submit separate prices for each of the following Weatherization rcT(1.
Install Install insulated glass aluminum replacement windows for
SW and NW bedroom windows .
REplace broken glass in SW bedroom and basement bedroom .
Replace damaged or missing window putty throughout. .
Caulk around all windows and doors .
Install 12 x 16 vents in both gable walls . Install 2" continuous--
soffit vents front and back .
Bring to completion the recent electrical repairs . Includes repi
of code violat_ions , two ceiling lights with wall switches in recroul'
220 V circuit for dryer , repair of basement bedroom receptacle .
Submit a separate price for installing electric heat (baseboard or
wall fan units ) in recroom, both basement bedrooms , three upper
bedrooms , livingroom and bathroom .
r
The estimate of the total cost of the above list of repair is $ 4000
This estimate is based on current costs of similar repairs , however ,
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 tb.
estimate is reasonable . I further understand that the total amount
available for all repairs is $ 4000 and I will assist in the selel
of the contractors to accomplish the repair within the dollar limit .
It is agreed that any changes in the a')ove list of repairs must be
approved by myself and the Housing Authority prior to authorizing
the work to proceed .
ACCEPTED : ,�,t.A,� � J ,L-1-1 _ _
Hom owner Homeowner
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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 1beis,w.L' .2 \'6'32-
2. This note is secured by mortgage of even date herewith from
Beverly K. Stuth , 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:
1829 Harrington Avenue M.E.
Renton, Washington 93056
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RECORDED 1 HIS f)7
EXHIBIT C
CO) TGAGE On 30 3 oT PH
�""/ BY THE 0IvI;.)iON
. RECORDS & ELECT!'
KING COUNTY
THIS INDENTURE MADE THIS F j-tL day of , 19 92; between
Beverly K. Stuth , mortgagor,
and King County, mortgagee;
WITNESSETH:
ig That the mortgagor , for and in consideration of a sum not to exceed 54,000.00
r which sum shall be equal to the cost of completing the agreed-upon repairs on the below-
cl
el described property pursuant to the King County Housing Repair Program, authorized by
'r'+ these presents mortgage, bargain,
King County Ordinance 3269, as amended, do bygrant,
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: 1829 Harrington Avenue N.E. , Renton, Washington
Lot 8, Block 51, corrected Plat, Renton Highlands No. 2,according to the Plat
recorded in Volume 57 of Plats, Page 92, in King County, Washington.
Subject to mortgage in favor of First Savings and Loan Association, of Perth
Amboy, New Jersey.
• 0 /1 /30 #1190
RECD F .00
CHSHSL '$*:*.r.*. 0,
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This conveyance is intended as a mortgage to secure the payment of a sum not to
exceed $4,000.0(1 which shall be equal to the cost of completing the agreed-upon repairs
on the abnve described property, such sum payable to Kin; County according to the terms
and conditions of that certain Promissory Note bearing date beur...c.r \3
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 extension,
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 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 '
judgement that may be recovered, a reasonable sum as attorney fees, together with all
vA sums paid by the mortgagee on account of taxes, liens, assessments, abstracts or title
Ainsurance charges, cost of searching records, interest, and fire insurance, with inter-
est at 12% per annum from date of payment.
41cf IN WITNESS WHEREOF, the mortgagor hereunto set hand the day and year
first above written.
'3iz,kreAj ) / ,
r
STATE OF WASHINGTON ) —.
ss.
COUNTY OF KING )
On this _j3 day of fS)p.PO,r/Li,,PJ,J , A.D. 19E2, before me,
the undersigned, a notary public ip and for the State of Washington, duly commissioned
and sworn- personally appeared _, „Q
to me known to be individual described it�and who executed the foregoing instrument,
and acknowledged to me that � signed and
sealed the said instrument as 4)- 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
cate above written.
SUCSCRIBED AND SWORN to before me this
13-$4' day of. 4_0'.11-f-cn .L_. 19 t.2.:
.7
NO _ PUBLI` in and for ':he State of
Washingtof`ir• r $id:' t,_
1 �s V1 I1,4/. �: 1
Mail to:
King County Housing Rehabilitation
1716 Smith Tower
Seattle, WA 98104
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