HomeMy WebLinkAboutRDA AG PKT 2003-01-27 #D AGENDA REPORT
•
DATE: January 27, 2003
TO: Chairperson and Members of the Redevelopment Agency
THRU: John B. Bahorski, Executive Director
FROM: Lee Whittenberg, Director of Development Services
SUBJECT: RECEIVE AND FILE - MOBILEHOME
MORTGAGE ASSISTANCE AND SUBSTANTIAL
REHABILITATION PROGRAMS
SUMMARY OF REQUEST:
Receive and file the proposed "Mortgage Assistance Program Procedures for the City of
Seal Beach ", establishing program procedures for the mortgage assistance and substantial
rehabilitation programs structured to assist low -to- moderate income persons and families
to purchase a first -time home or substantially rehabilitate a mobilehome within the Seal
Beach Trailer Park in the City of Seal Beach.
BACKGROUND:
On May 28, 2002 the Agency adopted the "Home Improvement Program Guidelines ",
implementing the provisions of the 2000 -2005 AB 1290 Implementation Plan approved by
the Agency on April 22, 2002. The following programs were approved and authorized for
implementation by the Agency at the May 28, 2002 Agency meeting:
A. Owner - Occupied Home Improvement Loan Program: These program
procedures were approved by the Redevelopment Agency on September 23, 2002.
B. Owner - Occupied Home Improvement Grant Program: These program
procedures were approved by the Redevelopment Agency on September 23, 2002.
C. Substantial Rehabilitation/Replacement and First Time Homebuyer Loan
Programs (Seal Beach Trailer Park):
Recent State regulations regarding the use of Housing Set -Aside funds dictate that
"substantial rehabilitation loans" be deferred and also require an affordable
covenant be recorded on the property for at least 55 years. The regulations further
Agenda Item
C. \Documents and Settings \LWhittenberg \My Documents \RDAVvlortgage Assistance Program\2003 MAP Procedures First Time &
Sub Rehab.RDA Staff Report doc \LW\- 1 -15 -03
Approval of Housing Assistance Program Procedures re:
Mobilehome First Time Homebuyer and Substantial Rehabilitation Programs
Redevelopment Agency Staff Report
January 27, 2003
state that the Agency must receive equity share repayment instead of an interest
rate on these loans. This means that if the property sells to a non - qualified buyer
within the 55 -year covenant, the Agency will receive a percentage of the property
equity as loan repayment. The 55 -year period is a State requirement for rental
units, and since the space occupied by the mobilehome is rented, it falls under the
55 -year provisions of Health and Safety Code § 33334.3.
In addition, since the current ownership of the Trailer Park is secured by a deed of
trust with bonds that have a 35 -year term, Health and Safety Code § 33334.14
requires the Agency to make a finding that an economically feasible alternative
method of financing or assisting the units on substantially comparable terms and
conditions is not reasonable available. The documentation provided with this
program includes an analysis of alternative lending programs and a finding that
supports the determination that an economically feasible alternative method of
financing or assisting the units on substantially comparable terms and conditions
is not reasonable available
Several of the mobile homes in the City are in need of repair and are believed to
have a variety of exterior and/or interior code violations. Utilizing the Housing
Set -Aside Funds, these homes will be brought up to current Code requirements.
This program will also establish the guidelines and procedures for a first time
homebuyer to purchase a mobilehome within the Seal Beach Trailer Park.
Note: These program procedures are being presented this evening.
D. Mortgage Assistance Loan Program:
This program is designed to assist new buyers with up to 20% down payment
assistance in purchasing condominiums or homes in the City of Seal Beach. The
loan is funded through Set -Aside Funds with a maximum loan amount of $35,000.
State regulations also require this type of funding to have a 45 -year affordable
covenant placed on the property as well as an equity share repayment plan.
Note: These program procedures were approved by the Redevelopment Agency
on October 28, 2002.
FISCAL IMPACT:
No impact to City General Fund. All program activities, including program
administration, are funded through the Redevelopment Agency Housing Seat -Aside
Fund, Account Number 061 - 081 - 45050.
2
2003 MAP Procedures First Time & Sub Rehab.RDA Staff Report
Approval of Housing Assistance Program Procedures re:
Mobilehome First Time Homebuyer and Substantial Rehabilitation Programs
Redevelopment Agency Staff Report
January 27, 2003
RECOMMENDATION:
Receive and file the proposed "Mortgage Assistance Program Procedures for the City of
Seal Beach ", establishing program procedures for the mortgage assistance and substantial
rehabilitation programs structured to assist low -to- moderate income persons and families
to purchase a first -time home or substantially rehabilitate a mobilehome within the Seal
Beach Trailer Park in the City of Seal Beach.
NOTED AND • . 'ROVED:
e Whittenberg John ' 1 orski, Executive Director
irector of Development Servic :: Re. elopment Agency
Attachments: (1)
Attachment 1: "Housing Assistance Program Procedures - Mobilehome
Mortgage Assistance and Substantial Rehabilitation
Programs ", Redevelopment Agency of the City of Seal
Beach, January 27, 2003
3
2003 MAP Procedures.First Time & Sub Rehab.RDA Staff Report
Approval of Housing Assistance Program Procedures re:
Mobilehome First Time Homebuyer and Substantial Rehabilitation Programs
Redevelopment Agency Staff Report
January 27, 2003
ATTACHMENT 1
"HOUSING ASSISTANCE PROGRAM PROCEDURES -
MOBILEHOME MORTGAGE ASSISTANCE AND
SUBSTANTIAL REHABILITATION PROGRAMS ",
REDEVELOPMENT AGENCY OF THE CITY OF SEAL
BEACH, JANUARY 27, 2003
4
2003 MAP Procedures.First Time & Sub Rehab RDA Staff Report
HOUSING ASSISTANCE
PROGRAM PROCEDURES
MOBILEHOME MORTGAGE ASSISTANCE
AND SUBSTANTIAL REHABILITATION
PROGRAMS
REDEVELOPMENT AGENCY
OF THE CITY OF SEAL BEACH
JAUARY 27, 2003
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Page.Trailer Park Programs.doc \LW \01 -15 -03
HOUSING ASSISTANCE
PROGRAM PROCEDURES
MOBILEHOME MORTGAGE
ASSISTANCE PROGRAM DOCUMENTS
❑ LOAN AGREEMENT
❑ NOTICE OF PROPOSED REFINANCING OF JUNIOR OR SENIOR
LOAN
❑ NOTICE OF PROPOSED SALE
❑ PLEDGE AND SECURITY AGREEMENT
❑ PROMISSORY NOTE
❑ UNIT REGULATORY AGREEMENT
JAUARY 27, 2003
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Forms Title Page.doc \LW\01 -16 -03
PROMISSORY NOTE
(Mobilehome MAP Loan, Unit #
Principal Sum: , 200
$ Seal Beach, California
FOR VALUE RECEIVED,
( "Borrower ") hereby promises to pay to the CITY OF SEAL BEACH REDEVELOPMENT
AGENCY, a public body, corporate and politic ( "Agency "), or order the principal sum of
DOLLARS ($ )
with simple interest thereon from the date hereon at the rate of two percent (2 %) per
annum, payable as follows. No payments of principal or interest shall be required prior
to , 203 (the "Maturity Date "), subject to acceleration of
the loan as provided in the Loan Documents, as defined in the Loan Agreement
between Agency and Borrower of even date herewith (the "Loan Agreement ").
If Borrower is in default under the Loan Documents (as defined in the Loan Agreement)
as of the Maturity Date, then all principal and accrued interest under this Note shall be
due on the Maturity Date. If Borrower is not in default under the Loan Documents as of
the Maturity Date, then all principal and interest shall be forgiven on the Maturity Date.
The outstanding principal balance of this Note shall bear interest (computed on the
basis of a 360 -day year, actual days elapsed) at the rate set forth herein. Principal and
interest shall be payable in lawful money of the United States to the Agency at 211
Eighth Street, Seal Beach, California 90470, or at such other place as the Agency or
other holder of this Note may from time to time designate in writing. Each payment shall
be applied first toward interest and the balance credited to principal then due.
Borrower shall have the right to prepay the amounts due under this Note at any time
without payment of any premium or prepayment charge.
This Note evidences a loan made by the Agency to Borrower pursuant to the terms of
the Loan Agreement. The Loan Agreement contains provisions for the acceleration of
all or part of the balance of principal and interest of this Note upon the occurrence of an
Event of Default as defined in the Loan Agreement. The terms and conditions of the
Loan Agreement relating to such acceleration are incorporated herein by this reference.
Without limiting the generality of the above, all or part of the balance of the principal and
interest of this Note may be accelerated at Agency's option in the event that the
property described in the Loan Agreement as collateral for the loan, or any part thereof
or interest therein, is directly or indirectly sold, transferred, conveyed, encumbered or
disposed of except in compliance with that certain Unit Regulatory Agreement of
substantially even date herewith executed by Borrower in favor of Agency.
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Note. DOC \LW \01 -16 -03
S7284\0001\714704.2
Redevelopment Agency of the City of Seal Beach
Mobilehome Mortgage Assistance Program Promissory Note
This Note is secured by that certain Pledge and Security Agreement executed by and
between Borrower in favor of the Agency and dated as of , 200_
and a Statement of Lien recorded with the California Department of Housing and
Community Development.
The Agency's acceptance of partial or delinquent payment, or the failure of the Agency
to exercise any right or remedy shall not be a waiver of any obligation of Borrower or
right of the Agency, shall not be a modification of this Note or of any of Borrower's
obligations under this Note, and shall not constitute a waiver of any other similar breach
that occurs later.
Borrower agrees to pay the following costs, expenses and attorneys' fees paid or -
incurred by the Agency or adjudged by a court of law ( "Court") having jurisdiction over
these matters:
1. Costs of collection, including but not limited to attorneys' fees paid
or incurred in connection with the collection or enforcement of this
Note, whether or not suit is filed;
2. Costs of suit and such sum as the Court may adjudge as attorneys'
fees in any action to enforce payment of this Note or any part of it,
or in connection with the foreclosure of the security for this Note;
and
3. Costs of suit and such sum as the Court may adjudge as attorneys'
fees in any other litigation or controversy connected with this Note,
or security for it, including, but not limited to, actions for declaratory
relief that the Agency is required to prosecute or defend and
actions for relief based on rescission, or actions to cancel this Note
that the Agency is required to defend.
Borrower waives diligence, grace, demand, presentment for payment, exhibition of this
Note, protest, notice of protest, notice of dishonor, notice of demand, notice of
nonpayment, and any and all exemption rights against the indebtedness evidenced by
this Note, and agree to any and all extensions or renewals from time to time without
notice and to any partial payments of this Note made before or after maturity and that
no such extension, renewal or partial payment shall release any one or all of them from
the obligation of payment of this Note, and consent to offsets of any sums owed to any
one or all of them by Agency at any time.
In the event of the loss, theft or destruction of this Note, upon Borrower's receipt of a
reasonably satisfactory indemnification agreement executed in favor of Borrower by the
party who held this Note immediately prior to its loss, theft or destruction, or in the event
of the mutilation of this Note, upon Agency's surrender to the Borrower of the mutilated
Note, Borrower shall execute and deliver to such party or Agency, as the case may be,
Mobilehome MAP Promissory Note 2
S7284\0001\714704.2
Redevelopment Agency of the City of Seal Beach
Mobilehome Mortgage Assistance Program Promissory Note
a new promissory note inform and content identical to this Note in lieu of the lost, stolen,
destroyed or mutilated Note.
This Note may not be assigned by the Borrower without the prior written consent of the
Agency, which consent shall be in the Agency's sole and absolute discretion. The
Agency may assign all or a portion of this Note to any party without the consent of the
Borrower. Upon such assignment by the Agency, the Borrower shall execute all
documents and instruments necessary to effectuate such transfer.
The Borrower agrees to do and perform, from time to time, any and all acts and to
execute any and all further instruments required or reasonably requested by the Agency
to more fully to effect the purposes of this Note.
This Note may be subject to Section 2966 of the California Civil Code, which provides
that the holder of this Note shall give written notice to the trustor, or his successor in
interest, of prescribed information at least 90 and not more than 150 days before any
balloon payment is due.
Borrower acknowledges that the amount of this Note includes certain costs incurred by
Agency in making the loan evidenced by this Note, including without limitation, a fee for
a tax service contract.
This Note shall be governed by and construed in accordance with the laws of the State
of California.
BORROWER:
PRINT NAME:
PRINT NAME:
Mobilehome MAP Promissory Note 3
S7284 \0001 \714704.2
(
STATE OF CALIFORNIAh►t
` BUSINESS, TRANSPORTA AND HOUSING AGENCY 7 .
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
DIVISION OF CODES AND STANDARDS
REGISTRATION AND TITLING PROGRAM />Y
STATEMENT OF LIEN
SECTION I. INSTRUCTIONS
THE HEALTH AND SAFETY CODE PROHIBITS PERFECTION OF A SECURITY LIEN BY THE DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT UNTIL THE SIGNED STATEMENT OF LIEN FORM, LAST ISSUED REGISTERED OWNER'S REGISTRATION CARD, AND
REQUIRED FEE ARE DULY FILED WITH THE DEPARTMENT.
For direct application: Forward the completed form, the last issued Registered Owner's Registration Card, and the required fee to Department of
Housing and Community Development, Division of Codes and Standard, Registration and Titling Section, P. O. Box 1828, Sacramento, CA 95812 -1828.
For facsimile application: Fax the application to (916) 323 -9246 and within 10 days, forward the original completed form, the last issued Registered
Owner's Registration Card, and the $25.00 fee to the above address.
A loan of money on the security of the described unit has been agreed upon by the parties shown below, and such parties do hereby agree and request
that, under Section 18080.7 of the Health and Safety Code, the Department of Housing and Community Development record and rank, in priority of
receipt, the aforementioned lien as a security interest following the Legal Owner of record.
SECTION 11 DESCRIPTION OF UNIT
Manufacturer Name: Manufacturer Trade Name:
Decal License Number s Serial Number s HUD Label/HCD Insi s nia Numbe s
NOTE: If a multiple unit mobilehome is currently registered under multiple decals (or license plates), show the number for each and the corresponding serial numbers.
If registered under one decal, show the decal number once, followed by a vertical line in the decal column to correspond with the serial numbers.
SECTION III. JUNIOR LIENHOLDER NAME(S) AND ADDRESS
Names: Last First Middle
1.
2.
If appllcible, check one of the following: ❑ TENCOM OR ❑ JTRS ❑ TENCOM AND ❑ COMPRO
Address: Street or P.O. Box City State Zip
SECTION IV. REGISTERED OWNER NAME(S) AND ADDRESS
Name(s): - - - - -- -
Address: — — -'
Street or P. O. Box City State Zip
SECTION V. CERTIFICATION
A loan of money on the security of the described unit has been agreed upon by the parties shown below, and such parties do hereby agree and request
that, under Section 18080.7 of the Health and Safety Code, the Department of Housing and Community Development record and rank, in priority of
receipt, the aforementioned lien as a security interest following the Legal Owner of record.
Registered Owner(s) Signature(s): Date:
Date:
Junior Lienholder(s) Signature(s): Date:
HCD 480 7 (7/97)
NOTICE OF PROPOSED REFINANCING
OF JUNIOR OR SENIOR LOAN
(Mobilehome MAP Loan; Unit # ; Space # )
This NOTICE OF PROPOSED REFINANCING OF JUNIOR OR SENIOR
LOAN is given by (collectively,
"Borrower ") to the SEAL BEACH REDEVELOPMENT AGENCY ( "Agency ")
pursuant to Section 10 of that certain UNIT REGULATORY AGREEMENT dated
, 200 executed by Borrower and Agency.
1. Notice and Certain Required Information. Borrower hereby notifies
Agency that Borrower intends to refinance a loan secured by the
mobilehome that is described as follows:
(the
"Mobilehome ") in the City of Seal Beach, Orange County, California on the
following terms:
a. Lender's name and address:
b. Loan terms (principal, interest rate, term, loan fees):
c. Closing date:
d. Loan to be refinanced (describe by name of lender, initial loan
amount, and date of deed of trust):
2. Copies of Transaction Documents. Copies of the following transaction
documents are attached hereto (describe by title, date and parties):
a. Loan Documents:
b. Escrow Instructions:
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Notice of Proposed Refinancing.DOC \LW \01 -16 -03
S7284 \0001 \715060.2
Redevelopment Agency of the City of Seal Beach
Mobilehome Mortgage Assistance Program Loan
Notice of Proposed Refinancing of Junior or Senior Loan
c. Other transaction documents:
BORROWER:
Print Name:
Print Name:
Date Executed: , 200_
Mobilehome MAP Loan Notice of Proposed Refinancing 2
S7284 \0001 \715060.2
NOTICE OF PROPOSED SALE
(Mobilehome MAP Loan; Unit # ; Space # )
This NOTICE OF PROPOSED SALE is given by
(collectively, "Seller ") to the SEAL BEACH REDEVELOPMENT AGENCY
( "Agency ") pursuant to Section 9 of that certain UNIT REGULATORY
AGREEMENT dated , 200 executed by Borrower and
Agency.
1. Notice and Certain Required Information. Seller hereby notifies Agency
that Seller intends to transfer the mobilehome described as follows:
(the "Mobilehome ") in
the City of Seal Beach, Orange County, California on the following terms:
a. Buyer(s) name and address:
b. Purchase price: $
Other consideration:
c. Down payment: $
d. Purchaser's financing terms (principal, interest rate, term, loan fees):
e. Closing date:
f. Aggregate annual income of purchaser's household: $
g. Number of persons comprising purchaser's household and their
names and ages:
Number:
Names and ages:
2. Copies of Transaction Documents. Copies of the following transaction
documents are attached hereto (describe by title, date and parties):
a. Purchase Agreement:
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Notice of Proposed SaIe.DOC \LW\01 -16 -03
S7284\0001\715049.2
Redevelopment Agency of the City of Seal Beach
Mobilehome Mortgage Assistance Loan Program
Notice of Proposed Sale
b. Escrow Instructions:
c. Other transaction documents (describe):
3. Purchaser Representations. By the purchaser's execution of this Notice,
the purchaser confirms to the Agency that the foregoing is true and correct
and that the Mobilehome will be occupied by the purchaser and will be
used as his or her sole residence.
SELLER:
Print Name:
Print Name:
Date Executed: , 200_
PURCHASER:
Print Name:
Print Name:
Date Executed: , 200_
Mobilehome MAP Loan Notice of Proposed Sale 2
S7284 \0001 \715049.2
HOUSING ASSISTANCE
PROGRAM PROCEDURES
MOBILEHOME SUBSTANTIAL
REHABILITATION
PROGRAM DOCUMENTS
❑ LOAN AGREEMENT
❑ NOTICE OF PROPOSED REFINANCING OF JUNIOR OR SENIOR
LOAN
❑ NOTICE OF PROPOSED SALE
❑ PLEDGE AND SECURITY AGREEMENT
❑ PROMISSORY NOTE
❑ UNIT REGULATORY AGREEMENT
JAUARY 27, 2003
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Program Forms Title Page.doc \LW\01 -16 -03
PROMISSORY NOTE
(Mobilehome Rehab Loan; Unit # )
Principal Sum: , 200
$ Seal Beach, California
FOR VALUE RECEIVED,
( "Borrower ") hereby promises to pay to the REDEVELOPMENT AGENCY OF THE
CITY OF SEAL BEACH, a public body, corporate and politic ( "Agency "), or order the
principal sum of DOLLARS
($ ) with simple interest thereon from the date hereon at the rate of two
percent (2 %) per annum. On , 201 , and each anniversary thereof,
one tenth of the principal and accrued interest shall be forgiven provided Borrower is not
then in default. No payments of principal or interest shall be required prior to
, 20 (the "Maturity Date "), subject to acceleration of the loan as
provided in the Loan Documents (as defined in the Loan Agreement of even date
herewith between Borrower and the Agency, which is hereinafter referred to as the
"Loan Agreement ").
If Borrower is in default under the Loan Documents (as defined in the Loan Agreement)
as of the Maturity Date, then all principal and accrued interest under this Note shall be
due on the Maturity Date. If Borrower is not in default under the Loan Documents as of
the Maturity Date, then all principal and interest shall be forgiven on the Maturity Date.
The outstanding principal balance of this Note shall bear interest (computed on the
basis of a 360 -day year, actual days elapsed) at the rate set forth herein. Principal and
interest shall be payable in lawful money of the United States to the Agency at 211
Eighth Street, Seal Beach, California, 90470, or at such other place as the Agency or
other holder of this Note may from time to time designate in writing. Each scheduled
payment shall be applied first toward interest and the balance credited to principal of the
installments then due or about to become due.
Borrower shall have the right to prepay the amounts due under this Note at any time
without payment of any premium or prepayment charge.
This Note evidences a loan made by the Agency to Borrower pursuant to the terms of
the Loan Agreement. The Loan Agreement contains provisions for the acceleration of
all or part of the balance of principal and interest of this Note upon the occurrence of an
Event of Default as defined in the Loan Agreement. The terms and conditions of the
Loan Agreement relating to such acceleration are incorporated herein by this reference.
Without limiting the generality of the above, all or part of the balance of the principal and
interest of this Note may be accelerated at Agency's option in the event that the
property described in the Loan Agreement as collateral for the loan, or any part thereof
or interest therein, is directly or indirectly sold, transferred, conveyed, encumbered or
C: \Documents and Settings \LWhittenberg \My Documents \RDA \Mortgage Assistance Program \Mobilehome Rehab Loan Promissory
N ote. D O C \L W \01 -16 -03
S7284\0001\710057.1
Redevelopment Agency of the City of Seal Beach
Mobilehome Rehabilitation Promissory Note
disposed of except in compliance with that certain Unit Regulatory Agreement of
substantially even date herewith executed by Borrower in favor of Agency.
This Note is secured by that certain Pledge and Security Agreement by and between
Borrower and the Agency dated as of , 200 and a Statement of
Lien recorded with the California Department of Housing and Community Development.
The Agency's acceptance of partial or delinquent payment, or the failure of the Agency
to exercise any right or remedy shall not be a waiver of any obligation of Borrower or
right of the Agency, shall not be a modification of this Note or of any of Borrower's
obligations under this Note, and shall not constitute a waiver of any other similar breach
that occurs later.
Borrower agrees to pay the following costs, expenses and attorneys' fees paid or
incurred by the Agency or adjudged by a court of law ( "Court") having jurisdiction over
these matters:
1. Costs of collection, including but not limited to attorneys' fees paid
or incurred in connection with the collection or enforcement of this
Note, whether or not suit is filed;
2. Costs of suit and such sum as the Court may adjudge as attorneys'
fees in any action to enforce payment of this Note or any part of it,
or in connection with the foreclosure of the security for this Note;
and
3. Costs of suit and such sum as the Court may adjudge as attorneys'
fees in any other litigation or controversy connected with this Note,
or security for it, including, but not limited to, actions for declaratory
relief that the Agency is required to prosecute or defend and
actions for relief based on rescission, or actions to cancel this Note
that the Agency is required to defend.
Borrower waives diligence, grace, demand, presentment for payment, exhibition of this
Note, protest, notice of protest, notice of dishonor, notice of demand, notice of
nonpayment, and any and all exemption rights against the indebtedness evidenced by
this Note, and agree to any and all extensions or renewals from time to time without
notice and to any partial payments of this Note made before or after maturity and that
no such extension, renewal or partial payment shall release any one or all of them from
the obligation of payment of this Note or any installment of this Note, and consent to
offsets of any sums owed to any one or all of them by Agency at any time.
In the event of the loss, theft or destruction of this Note, upon Borrower's receipt of a
reasonably satisfactory indemnification agreement executed in favor of Borrower by the
party who held this Note immediately prior to its loss, theft or destruction, or in the event
of the mutilation of this Note, upon Agency's surrender to the Borrower of the mutilated
Mobilehome Rehab Loan Promissory Note 2
S7284\0001\710057.1
Redevelopment Agency of the City of Seal Beach
Mobilehome Rehabilitation Promissory Note
Note, Borrower shall execute and deliver to such party or Agency, as the case may be,
a new promissory note inform and content identical to this Note in lieu of the lost, stolen,
destroyed or mutilated Note.
This Note may not be assigned by the Borrower without the prior written consent of the
Agency, which consent shall be in the Agency's sole and absolute discretion. The
Agency may assign all or a portion of this Note to any party without the consent of the
Borrower. Upon such assignment by the Agency, the Borrower shall execute all
documents and instruments necessary to effectuate such transfer.
The Borrower agrees to do and perform, from time to time, any and all acts and to
execute any and all further instruments required or reasonably requested by the Agency
to more fully to effect the purposes of this Note.
This Note is subject to Section 2966 of the California Civil Code, which provides that the
holder of this Note shall give written notice to the trustor, or his successor in interest, of
prescribed information at least 90 and not more than 150 days before any balloon
payment is due.
This Note shall be governed by and construed in accordance with the laws of the State
of California.
BORROWER:
PRINT NAME:
Mobilehome Rehab Loan Promissory Note 3
S7284\0001\710057.1
STATE OF CALIFORNIA .,4ENTOF
BUSINESS, TRANSPORTATION AND HOUSING AGENCY
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
DIVISION OF CODES AND STANDARDS "'Z
REGISTRATION AND TITLING PROGRAM E j
STATEMENT OF LIEN
SECTION I. INSTRUCTIONS
THE HEALTH AND SAFETY CODE PROHIBITS PERFECTION OF A SECURITY LIEN BY THE DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT UNTIL THE SIGNED STATEMENT OF LIEN FORM, LAST ISSUED REGISTERED OWNER'S REGISTRATION CARD, AND
REQUIRED FEE ARE DULY FILED WITH THE DEPARTMENT.
For direct application: Forward the completed form, the last issued Registered Owner's Registration Card, and the required fee to Department of
Housing and Community Development, Division of Codes and Standard, Registration and Titling Section, P. O. Box 1828, Sacramento, CA 95812 -1828.
For facsimile application: Fax the application to (916) 323 -9246 and within 10 days, forward the original completed form, the last issued Registered
Owner's Registration Card, and the $25.00 fee to the above address.
A loan of money on the security of the described unit has been agreed upon by the parties shown below, and such parties do hereby agree and request
that, under Section 18080.7 of the Health and Safety Code, the Department of Housing and Community Development record and rank, in priority of
receipt, the aforementioned lien as a security interest following the Legal Owner of record.
SECTION II. DESCRIPTION OF UNIT
Manufacturer Name: Manufacturer Trade Name:
Decal (License) Number(s) 1 Serial Number(s) I HUD Label /HCD Insignia Number(s)
NOTE: If a multiple unit mobilehome is currently registered under multiple decals (or license plates), show the number for each and the corresponding senal numbers.
If registered under one decal, show the decal number once, followed by a vertical line in the decal column to correspond with the senal numbers.
SECTION 111. JUNIOR LIENHOLDER NAME(S) AND ADDRESS
Names: Last First Middle
1. -
2.
If applicable, check one of the follovnng: ❑ TENCOM OR ❑ JTRS ❑ TENCOM AND ❑ COMPRO
Address: Street or P.O. Box City State Zip
SECTION IV. REGISTERED OWNER NAME(S) AND ADDRESS
Name(s): - -- — — - - - - -- - - --
Address: -- - - -- Street or P. O. Box City State Zip
SECTION V. CERTIFICATION
A loan of money on the security of the descnbed unit has been agreed upon by the parties shown below, and such parties do hereby agree and request
that, under Section 18080.7 of the Health and Safety Code, the Department of Housing and Community Development record and rank, in priority of
receipt, the aforementioned lien as a security interest following the Legal Owner of record. -
Registered Owner(s) Signature(s): Date:
Date:
Junior Lienholder(s) Signature(s): — Date: – –
HCO 480 7 (7/97) ,
NOTICE OF PROPOSED REFINANCING
OF JUNIOR OR SENIOR LOAN
(Mobilehome Rehab Loan; Unit # ; Space # )
This NOTICE OF PROPOSED REFINANCING OF JUNIOR OR SENIOR
LOAN is given by (collectively,
"Borrower ") to the SEAL BEACH REDEVELOPMENT AGENCY ( "Agency ")
pursuant to Section 9 of that certain UNIT REGULATORY AGREEMENT dated
, 200 executed by Borrower and Agency.
1. Notice and Certain Required Information. Borrower hereby notifies
Agency that Borrower intends to refinance a loan secured by the
mobilehome that is described as follows:
(the
"Mobilehome ") in the City of Seal Beach, Orange County, California on the
following terms:
a. Lender's name and address:
b. Loan terms (principal, interest rate, term, loan fees):
c. Closing date:
d. Loan to be refinanced (describe by name of lender, initial loan
amount, and date of deed of trust):
2. Copies of Transaction Documents. Copies of the following transaction
documents are attached hereto (describe by title, date and parties):
a. Loan Documents:
b. Escrow Instructions:
C: \Documents and Settings \LWhittenberg \My Documents \RDA \Mortgage Assistance Program \Mobilehome Rehab Loan
Notice of Proposed Refinancing.DOC \LW\01 -16 -03
S7284\0001\715062.2
Redevelopment Agency of the City of Seal Beach
Mobilehome Rehabilitation Loan
Notice of Proposed Refinancing of Junior or Senior Loan
c. Other transaction documents:
BORROWER:
Print Name:
Print Name:
Date Executed: , 200
Mobilehome Rehab Loan Notice of Proposed Refinancing 2
S7284 \0001 \715062.2
NOTICE OF PROPOSED SALE
(Mobilehome Rehab Loan; Unit # ; Space # )
This NOTICE OF PROPOSED SALE is given by
(collectively, "Seller") to the SEAL BEACH REDEVELOPMENT AGENCY
( "Agency ") pursuant to Section 8 of that certain UNIT REGULATORY
AGREEMENT dated , 200 executed by Borrower and
Agency.
1. Notice and Certain Required Information. Seller hereby notifies Agency
that Seller intends to transfer the mobilehome described as follows:
(the "Mobilehome ") in
the City of Seal Beach, Orange County, California on the following terms:
a. Buyer(s) name and address:
b. Purchase price: $
Other consideration:
c. Down payment: $
d. Purchaser's financing terms (principal, interest rate, term, loan fees):
e. Closing date:
f. Aggregate annual income of purchaser's household: $
g. Number of persons comprising purchaser's household and their
names and ages:
Number:
Names and ages:
2. Copies of Transaction Documents. Copies of the following transaction
documents are attached hereto (describe by title, date and parties):
a. Purchase Agreement:
C:\Documents and Settings \LWhittenberg \My Documents \RDA \Mortgage Assistance Program \Mobilehome Rehab Loan
Notice of Proposed SaIe.DOC \LW\01 -16 -03
S7284 \0001 \715049.2
Redevelopment Agency of the City of Seal Beach
Mobilehome Rehabilitation Loan
Notice of Proposed Sale
b. Escrow Instructions:
c. Other transaction documents (describe):
3. Purchaser Representations. By the purchaser's execution of this Notice,
the purchaser confirms to the Agency that the foregoing is true and correct
and that the Mobilehome will be occupied by the purchaser and will be
used as his or her sole residence.
SELLER:
Print Name:
Print Name:
Date Executed: , 200
PURCHASER:
Print Name:
Print Name:
Date Executed: , 200_
Mobilehome Rehab Loan Notice of Proposed Sale 2
S7284 \0001 \715049.2