HomeMy WebLinkAbout2015-170 1 RESOLUTION NO.2015-170
2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SA
3 BERNARDINO ACTING AS THE SUCCESSOR HOUSING AGENCY TO TH
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING TH
4 THE SENIOR MORTGAGE RELATING OC REAL CPROPERTY LOCATED N AT 508
THE SENIO
5 SUNDANCE DRIVE,SAN BERNARDINO,CALIFORNIA.
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WHEREAS, on January 9, 2012,the Mayor and Common Council of the City of San Bernar m
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("Council") adopted Resolution No. 2012-12 confirming that the City of San Bernardino would serve a
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the Successor Agency to the Redevelopment Agency ("Agency") of the City of San Bernardin
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("Successor Agency") effective February 1, 2012, pursuant to AB1X 26 (The Redevelopment Agenc
11 Dissolution Act); and
12 WHEREAS, on January 23, 2012,the Council adopted Resolution No. 2012-19 providing for th
13 City to serve as the Successor Housing Agency and perform the housing functions previously performe
14 by the Agency; and
is WHEREAS, p ursuant to Health & Safety Code Section 34181(c) of AB 1 X26 the Oversigh
16 owers, duties, obligation
Board is to direct the transfer of housing responsibilities, including all rights, p
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and assets,to the Successor Housing Agency; and
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WHEREAS, pursuant to Health & Safety Code Section 34176(e)(1) of AB 1484 the restriction
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20 on the use of real property such as affordability covenants entered into by the Agency are considered
21 housing asset; and
22 WHEREAS, a Deed of Trust affecting real property located at 5080 Sundance Drive, Sa
23 Bernardino, California("Property") exists as of November 02, 2009, and recorded on January 7, 2010, a
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Instrument Number 10-7358 in the Official Records of the County of San Bernardino ("Deed of Trust'
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and
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WHEREAS,the terms of the Deed of Trust allow the Trustor to obtain the release of the securit
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interest of the First Mortgage Lender in the Property for the purpose of a third-party lender whic
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1 refinances the purchase money mortgage of the First Mortgage Lender; and
2 WHEREAS, an escrow has been opened on the Property affected by the Deed of Trust on whic
3 owners (Lupe Ontiveros) request the subordination so that they can proceed on a refinance and a clea
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lenders title policy can be provided to the new lender of the Property;
an
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WHEREAS, the Successor Housing Agency desires to confirm that the Deed of Trust is
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housing asset and/or housing function, and desires to authorize Successor Housing Agency staff t
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transfer all rights and interest in the Deed of Trust to the City in its capacity as the Successor Housin
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9 Agency; and
10 WHEREAS, Successor Housing Agency staff desires to cause to be signed and recorded
11 subordination agreement for the purposes of causing the new third-party lender to have a security interes
12 in the Property senior to that of the Successor Housing Agency; and
13 WHEREAS,the State of California Department of Finance,the County Auditor-Controller of th
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County of San Bernardino and the Office of the Chief Executive Officer of the County of San Bernar m
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have been properly notified prior to the adoption of this Resolution.
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NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON COUNCI
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OF THE CITY OF SAN BERNARDINO ACTING AS THE SUCCESSOR HOUSING AGENC
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19 OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, A
20 FOLLOWS:
21 Section 1. Pursuant to Health & Safety Code Section 34176,the Successor Housing Agenc
22 to the Redevelopment Agency of the City of San Bernardino does hereby find and determine that th
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Deed of Trust is a housing asset and hereby authorizes the City Manager or his/her designee, to execu
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the Subordination Agreement (attached and incorporated herein as Exhibit "A") and cause it to be
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recorded with the San Bernardino County Recorder.
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Section 2. This Resolution shall take effect from and after its date of adoption and th
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28 expiration of five business days from its transmittal to the California Department of Finance.
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1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SA
BERNARDINO ACTING AS THE SUCCESSOR HOUSING AGENCY TO THE
2 REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING THE
SUBORDINATION OF A DEED OF TRUST IN CONNECTION WITH A REFINANCING O
3 THE SENIOR MORTGAGE RELATING TO REAL PROPERTY LOCATED AT 508
4 SUNDANCE DRIVE, SAN BERNARDINO,CALIFORNIA.
5 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by th
Mayor and Common Council of the City of San Bernardino at a joint regular meeting thereof, held on th
6 3rd day of August, 2015,by the following vote,to wit:
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8 Council Members Ayes Nays Abstain Absent
9 MARQUEZ X
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BARRIOS
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VALDIVIA X
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SHORETT X
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NICKEL X
15 JOHNSON x
16 MULVIHILL X
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18 G�Qrgea anna, C C ity Clerk
19 The foregoing Resolution is hereby approved this day f August, 2K5.
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Lcc& �
21 R. Carey Davis ayor
City of San B rnardino
22 Approved as to Form:
2 3 Gary D. Saenz, City Attorney
24 By:
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