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City of Renton
Home Improvement Loan Program
. Loan Agreement
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THIS AGREEMENT is entered into this ?N day of
March , 19 83 , between the CITY OF RENTON, hereinafter referred
V-> to as the "City", KING COUNTY, hereinafter referred to as the "County", and
0 Christian Tarp hereinafter referred to as the
cr) "Applicants."
(rib 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
housingrepair financingupto a maximum of 4 000 to be made available from
P $ ,
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 $ 3000• 212' , 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 T?AI day of
, 19 b3 .
APPLICANT'S SIGNATURE: FOR THE CITY OF RENTON:
60nloanou t� .SRtn.pocly
MAYOR
Attest:
FOR KING COUNTY: City Clerk
DIRECTO' , DEPARTMENT OF PLANNING AND
COMMUNITY DEVELOPMENT
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HOUSING AUTHORITY
C7r; l'.ELL`_,Chairn,,:r # CLUE OF THE
C RC\ GUS1L.VP, Vice Chairm,,r, � COUNTY
O U N
I•'.ri:: •o P.7 CUf;FY EOUAL HOUSING �•r T O F KING
OPPORTUNITIES
F'CGE Cl A. o?NEIL L
J_f;F\' FOE:i SOf,r
WASH!fVGTOfJ
£" HOUSING REHABILITATION DEPARTMENT
JILL V:ILEY
EXHIBIT "A"
KING COUNTY HOUSING REPAIR AGREEMENT
NAME : _Christian Tarp JOB NO . RT-82-103
ADDRESS : 1408 N . 34th PHONE : 255-6753
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
Tear off all roofing material and replace any damaged sheathing .
Install new three ply built-up on flat roof. Install 15 yr
composition shingles on sloped sections . Properly flash roof
penetrations ( chimney , vents ) and flat roof intersection with
gable wall . Improve flat roof drainage i . e . new scuppers at
existing locations and new scupper wit downspout to drain SE
portion of flat roof (locate to right of wall brick in front ) .
Replace all three wood gutters with continuous aluminum gutters
and downspouts . Requires new gutter support on west side (locate
downspout at NW corner) . Replace downspouts throughout .
Downspouts for NE corner of sloped and flat roofs to intersect .
Connect downspouts to existing drains and install concrete
splashblocks where no drains exist . Install two R-61 roof vents
near both ridges ( total of four vents ) .
Remove damaged sheetrock from ceilings of bedroom and kitchen .
Replace with new sheetrock and texture-spray new areas .
•The estimate of the total cost of the above list of repair is $ 3(ldV
This estimate is based on current costs of similar each job is different a'�nd costs vary, therefore actual 'costshwillebe
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 $ O Q
�Q _ and will
in
of the contractors to accomplish the repair lwithinathesssdollar
thet lsitectiont •
It is agreed that any changes in the above list of repairs must
approved by myself and the HousingAuthority
the work to proceed , or > prior to authorizing
ACCEPTED
Homeowner — `
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EXHIBIT B
KING COUNTY, WASHINGTON
PROMISSORY NOTE DATE: illaAcLii I q A3
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 $ 3/ rDv 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 // 4 `983
2. This note is secured by mortgage of even date herewith from
Chr i sta i n W. Tarp , 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
s
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 owing, in
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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: 71
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• EXHIBIT C .1 -r
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MORTGAGE
7N March 19 83 , between
THIS INDENTURE MADE THIS f day of _�..
Christian Tarp , mortgagor,
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and King County, mortgagee;
WITNESSETH:
That the mortgagor , for and in consideration of a sum not to exceed S4,000.00
which sum shall be equal to the cost of completing the agreed-upon repairs on the below- a
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,
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: Residence at 1408 North 34th Street, Renton, Washington 98056
The west 116 feet of that portion of the west half of the west half of
the southeast quarter of the southeast quarter of Section 34, Township 24 North,
Range 5 East, W.M. , in King County, Washington, lying south of center line of
county road as conveyed to King County for road, by instrument recorded under
Auditor' s File No. 2993716, EXCEPT SAID road.
Subject to: easements, restrictions and reservations of record, if any.
RECD F
CASHSL j.: i
This conveyance is intended as a mortgage to secure the payment of a sum not to
exceed $4,o00. O1:1 which shall be equal to the cost of completing the agreed-upon repairs
on the above described property, such sum payable to King County according to the terms
and conditions of that certain Promissory Note bearing date (NA cJ c I '1 tctR 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 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 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
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-
est at 12% per annum from date of payment.
IN WITNESS WHEREOF, the mortgagor hereunto set hand the day and year
first above written.
STATE OF WASHINGTON ) -
ss.
COUNTY OF KING )
On this 7-LL day of -m O r , A.D. 19' , before me,
the undersigned, a notary public in and for the State of Washington, duly commissioned
and sworn personally appeared CI-11-15,4 r p
to me known to be individual described in and who executed the foregoing instrument,
and acknowledged to me that h signed and
sealed the said instrument as (t, 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.
SUESCRIBED AND SWORN to before me this
7 ' day of. in(,ur t_1., , 19%3
&
N Y PUBLIC in and forctlie State of
Washington, residing at 1- pAl.( .
Mail to:
King County Housing Rehabilitation
1718 Smith Tower
Seattle, WA 98104
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PATE OF WASHINGTON
County of King ss
The Director of Records & Elections, King County, State of Washington, and
exofficio Recorder of Deeds and other instruments, do hereby certify the
foregoing copy has been compared with the original Instrument as the same
appears on file and of record in the office,and that the same is a true and perfect
transcript of said original and of the whole thereof.
Witness my hand and official seal this MAR 1 1983 day
Dir ctor of Records` N
Elections
BY J- _. .
Deputy