HomeMy WebLinkAboutRes.3069.05-01-2017 BILL NO. 17-56 RESOLUTION NO. 306 9
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE A SUBORDINATION OF GRANT AGREEMENT WITH
FIRST MISSOURI STATE BANK OF CAPE COUNTY, FOR
PROPERTY LOCATED AT 921 BLOOMFIELD STREET, IN THE
CITY OF CAPE GIRARDEAU, MISSOURI
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE
GIRARDEAU, MISSOURI, AS FOLLOWS:
ARTICLE 1 . The City Manager, for and on behalf of the City
of Cape Girardeau, Missouri, is hereby authorized to execute a
Subordination of Grant Agreement with First Missouri State Bank
of Cape County, for property located at 921 Bloomfield Street,
in the City of Cape Girardeau, Missouri . The Agreement shall be
in substantially the form attached hereto as Exhibit A, which
document is hereby approved by the City Council, with such
changes therein as shall be approved by the officers of the City
executing the same.
PASSED AND ADOPTED THIS DAY OF , 2017 .
Harry E. Rediger, Mayor
ATTEST:
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ruce Tay r, Deputy City Clerk 4 ? m--,, \
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SUBORDINATION OF GRANT AGREEMENT
Whereas, by Grant Agreement recorded October 6th, 2014 in Document #2014-10413 in the Cape
Girardeau County, Missouri Recorders Office, executed by Peggy Theilman, a single person and
conveyed to City of Cape Girardeau, (GRANTOR) the real estate in said Grant Agreement
described to secure the indebtedness therein described.
AND WHEREAS, the undersigned, present holder and legal owner of the above Grant
Agreement recorded in Document #2014-10413 and the indebtedness secured thereby has been
requested to subordinate the lien of said Grant Agreement to the lien of a Deed of Trust to First
Missouri State Bank of Cape County_, (GRANTEE) whose address is 2 South Mount Auburn
Road, Cape Girardeau, MO 63703, in an amount not to exceed $50,500.00 recorded on
in Document # , and for valuable consideration has agreed to
do so.
NOW THEREFORE, the undersigned, present holder and legal owner of the first above
mentioned Grant Agreement recorded in Document #2014-10413, and the indebtedness secured
thereby, in consideration of the valuable consideration aforesaid paid, the receipt of which is
hereby acknowledged, does by these presents subordinate the lien of the first above mentioned
Grant Agreement recorded October 6th, 2014 in Document #2014-10413, so that henceforth said
Grant Agreement in Document #2014-10413 shall be junior in lien and inferior to the above
Deed of Trust recorded on in Document # as to the following
described real estate:
ALL OF LOT NUMBERED FIVE (5) OF YOUNT, ELLIS & POPP' S SUBDIVISION
IN THE CITY OF CAPE GIRARDEAU, MISSOURI, AS SHOWN BY PLAT
RECORDED IN PLAT BOOK 2 AT PAGE 55, LAND RECORDS OF CAPE
GIRARDEAU COUNTY, MISSOURI.
IN WITNESS WHEREOF, this instrument has been executed this day of ,
2017.
CITY OF C IRARDEAU, MISSOURI
By:
STATE OF MISSOURI
COUNTY OF CAPE GIRARDEAU
On this I kantqhat
of , 2017 before me personally appeared,
eared
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me persona known, who, being by me duly sworn, did say that he/she
is thqofisgsoi,
f the City o Cape Girardeau, Missouri, a Municipal Corporation, of the
State the seal affixed to the foregoing instrument is the seal of said City,
and that said instrument was signed and sealed in behalf of said City, by authority of said
instrument to be the free act and deed of said City.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal, at my
office in Cape Girardeau, Missouri, the day and year first above
My Commission Expires: I I t )0(
AMANDA�•MCKiNNEY
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MY Commission Expires
March 3, 2018
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Cape Girardeau County
Commission#14588193
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