HomeMy WebLinkAbout2005-01-10 Resolution Prepared by Mitchel T. Behr, Asst. City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030
RESOLUTION NO. 05-16
RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLERK TO ATTEST
TO THE RELEASE A MORTGAGE ON UNIT I-A, TOWER PLACE AND PARKING, A/K/A
"THE COTTAGE".
WHEREAS, on December 27, 2000, the owner of Unit l-A, Tower Place and Parking, a/k/a
"The Cottage" executed a Second Mortgage in the amount of $180,000.00 to secure a loan
from the City for said amount as part of the City's sale of the property; and
WHEREAS, the loan is being fully paid;
WHEREAS, upon payment in full the owner will have met the obligations contained in the
Promissory Note and Mortgage; and
WHEREAS, it is the City of Iowa City's responsibility to release the mortgage upon payment in
full.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
1 The Mayor is authorized to sign and the City Clerk to attest a Release of Mortgage
approved by the City Attorney's office for recordation, whereby the City will release Unit
l-A, Tower Place and Parking, Iowa City, Iowa from the City's mortgage thereon.
2. The City Clerk is authorized to certify a copy of this resolution for delivery to the
mortgagor, together with the Release of Mortgage, to be recorded in the Johnson
County Recorder's Office at the mortgagor's expense.
Passed and approved this lOth day of Januars ,2005.
MAYOR
Approved by
CITY'CLERK City Attorney's Office
Resolution No. 05-16
Page 2
It was moved by Vanderhoef and seconded by E11 i ott the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
Z Bailey
× Champion
X Elliott
X Lehman
X O'Donnell
X Vanderhoef
X Wilbum
Prepared by: Mitchel T. Behr, Asst. City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5030
Release of Real Estate Mortgage
The undersigned, the present owner of the Mortgage hereinafter described, for valuable
consideration, receipt of which is hereby acknowledged, do hereby acknowledge that the
following described real estate situated in Johnson County, Iowa:
Unit lA of Tower Place and Parking, according to the Declaration of Condominium
therefor submitted under Chapter 499B, Code of Iowa {1999), as recorded in Book 3023,
page 467 of the records of Johnson County, Iowa, together with said unit's appurtenant
interest in the common elements,
is hereby released from the lien of the real estate mortgage executed by Lora M. Alberhasky to
the City of Iowa City, Iowa, in the amount of $180,000.00, recorded on December 28, 2000 at
Book 3027, page 240 and re-recorded on August 14, 2001, at Book 3113, page 453 in the
records of the Office of the Recorder of Johnson County, State of Iowa.
Dated this 10thday of Januar,y ,2005.
CITY O~/tO'~A CITY, IOWA
Ernest W. Lehman, Mayor
STATE OF IOWA, JOHNSON COUNTY, SS:
On this /~ day of d--~n,~,r'v ,2005, before me, the undersigned, a Notary Public in
and for said County, in said State,/ personally appeared Ernest W. Lehman and Marian K. Karr,
to me personally known, who being by me duly sworn, did say that they are the Mayor and City
Clerk, respectively, of said municipal corporation executing the within and foregoing instrument;
that the seal affixed thereto is the seal of said municipal corporation; that said instrument was
signed and sealed on behalf of said municipal corporation by authority of City Council of said
municipal corporation; and that the said Ernest W. Lehman and Marian K. Kart acknowledged
the execution of said instrument to be the voluntary act and deed and said municipal corporation,
by it and by them voluntarily executed.
Commission Number 159791
Notary Public in and for the State of Iowa My Commission Expires
Prepared by Mitchel T. Behr, Asst. City Attorney, 410 E. Washington St., Iowa City, IA 52240 (319) 356-5.p30
RESOLUTION NO. /
/
RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND THE CITY CLE~'TO ATTEST
TO THE RELEASE OF A MORTGAGE ON UNIT l-A, TOWER PLACE AN/D~PARKING, A/K/A
"THE COTTAGE,.,., /-
WHEREAS, on Dece~mber 27, 2000, the owner of Unit l-A, Tower/Place and Parking, a/k/a
"The Cottage" executed a Second Mortgage i,n. the amount of $1/80,000.00 to secure a loan
from the City for said am~.unt as part of the City s sale of the prop~Vrty; and
WHEREAS, the loan is beir~'~,fully paid;
WHEREAS, upon payment in ~ull the owner will have,~et the obligations contained in the
Promissory Note and Mortgage; ~d /'
WHEREAS, it is the City of Iowa Cit,~ responsibilit release the mortgage upon payment in
NOW, THEREFORE, BE IT RESOLVED~BY" Tf~E CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
1 The Mayor is authorized to sign ~and City Clerk to attest a Release of Mortgage
approved by the City Attorney's office .~cordation, whereby the City will release Unit
l-A, Tower Place and Parking, Iowa City, the City's mortgage thereon.
2. The City Clerk is authorized to certify a copy this resolution for recordation in the
Johnson County Recorder'S Office, together h the Release of Mortgage, said
recording costs to be paid bY the mortgagor.
Passed and approved this // day of 2005.
MAYOR
Approved b',
CITY CLERK Cit! s Office