Laserfiche WebLink
<br />. . <br /> <br />~ <br /> <br />. <br />. <br /> <br />. <br />. <br /> <br />, <br /> <br />(d) The lien of the Agency's Trust Deed shall be subordinate only <br />to the liens of trust deeds securing an indebtedness of not more than Two <br />Hundred Ninety Thousand Dollars ($290,000.00) held by Wells Fargo Bank and One <br />Hundred Seventy Two Thousand Dollars ($172,000.00) held by Mercury Savings, <br />and to such other minor liens as the Executive Director may determine to be <br />acceptable. <br /> <br />(e) The borrower shall provide satisfactory evidence of title to <br />the subject property, subject only to such easements or other encumbrances as <br />the Executive Director may determine to be acceptable. <br /> <br />BE IT FURTHER RESOLVED that the Executive Director is authorized to <br />take such actions on behalf of the Agency as are appropriate to carry out the <br />above described refinancing, including, but not limited to the signing of all <br />appropriate documents, the establishment of a loan escrow, and execution of <br />agreements with the borrower, including joint escrow instructions, and in so <br />doing to impose such requirements as he deems appropriate for the protection <br />of the Agency's interest. <br /> <br />ADOPTED this ~ day of <br /> <br />April <br /> <br />, 1988, by the following <br /> <br />vote: <br /> <br />AYES: MEMBERS: Acosta, Griset, Hart, May, McGuigan, <br /> Pulido & Young <br />NOES: MEMBERS: None <br />ABSENT: MEMBERS: None <br /> <br />ATTEST: <br /> <br />~ <br /> <br />W)~ <br /> <br />Cynth a J. Ne on <br />Executive Director and <br />Recording Secretary <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />E!!Ø. ~ <br />~ <br /> <br />-2- <br /> <br />RLD/m036 <br />