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Home My WebLink AboutRes.3714.2026-09-08 BILL NO. 26-73 RESOLUTION NO. ✓ 11/11 A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A RELEASE OF LIEN FOR PROPERTY LOCATED AT 2768 ADELINE AVENUE, IN THE CITY OF CAPE GIRARDEAU, MISSOURI WHEREAS, Diana D. Murphy and Regina Lester are the owners of a dwelling unit located on the following-described real estate in the City and County of Cape Girardeau, Missouri, more particularly described as follows, to-wit: 2768 Adeline Avenue All that part of Lots Six (6) and Seven (7) , Block Four (4) of Rodney Vista, a Subdivision of Out Lot Seventy-Nine (79) , U. S. P. Survey No. Twenty-One Hundred Ninety-Nine (2199) in the City and County of Cape Girardeau, Missouri. and WHEREAS, the City of Cape Girardeau, Missouri, previously authorized a grant of money for the repair, rehabilitation, and improvement of said dwelling unit; and WHEREAS, a Deed Restriction for said grant of money was executed by Diana D. Murphy and Regina Lester, on August 3, 2016, said Deed Restriction being recorded in Document No. 2016- 08808 in the land records of Cape Girardeau County, Missouri; and WHEREAS, said Deed Restriction constitutes a lien against the above-described property; and WHEREAS, said lien was satisfied upon the expiration of the five (5) year Retention Period as defined in said Deed Restriction; and WHEREAS, said five (5) year Retention Period is now expired. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: The City Manager is authorized to execute a Release of Lien for the above-described lien and the City does hereby remise, release, and forever quit claim said lien against the above- 1 described property on account of the above-described Deed Restriction. Furthermore, the City of Cape Girardeau, Missouri, and its successors and assigns, shall be forever excluded and barred from enforcing said lien. CC � __ I�_" � \ Fh PASSED AND ADOPTED THIS U DAY OF NX.AJI{lYlI3k, 2026. Robert F. Gu , Mayor ��Rpa At ATTEST: ° ~ecr' t �f�cv�' i on t . .� . rQ,� Courtney Davis, Deputy City Clerk 2 2 5 91949 IVV/ • 1 5 2 929 DOCUMENT# - GOQpFR Q T., 2016-08808 F �V Nyy ANDREW DAVID BLATTNER £ A=� RECORDER OF DEEDS �'} "i CAPE GIRARDEAU COUNTY, MO A f— ".� RECORDED ON 9�`� 08/12/2016 3:07:17 PM • 2 := REC FEE: 33.00 hi6tEP.0 J' PAGES:4 RECORDER OF DEEDS COVER PAGE Title of Document: Deed Restriction Date of Document August 3, 2016 Grantor(s) Name&Address: City of Cape Girardeau 401 Independence Cape Girardeau, MO 63703 Grantee(s) Name 8 Address Diana D. Murphy and Regina Lester 2768 Adeline Cape Girardeau, MO 63701 Legal Description: See Exhibit A Reference Document Number, if Required: Prepared By/Return To: Stephen S.Williams,City of Cape Girardeau,401 Independence Street, Cape Girardeau,MO 63701 — DEED RESTRICTION THE STATE OF MISSOURI COUNTY OF CAPE GIRARDEAU The undersigned,Diana D.Murphy and Regina Lester("Owner'),is the owner of cenain real property and improvements located at 2768 Adeline,in Cape Girardeau 63701, Cape Girardeau County, State of Missouri,and more panicularly described on Exhibit A attached hereto and incorporated herein for all purposes(the"Property"). For value received,the adequacy and sufficiency of which are hereby acknowledged,Owner does hereby impress the Property with the following deed restrictions. L For purposes of these restrictions,the following terms have meaning indicated: "Retention Period"means a period ol'five(5)years beginning on the date hereof "Lender"means:City of Cape Girardeau. "Bank" means The Federal Home Loan Bank of Des Moines ATTN: Community Investment Department 801 Walnut St Suite 200 Des Moines,IA 50309-3515. "AHP"means the affordable housing program or the Bank. 'Direct Subsidy'means the amount funded by the Bank,in association with its AHP as prescribed by the applicable rules and regulations of the Federal Housing Finance Agency(FIIFA),for the benefit of the prospective Owner and for the purpose of assisting such Owner in the purchase, construction,or rehabilitation of the property. "Very low-, low-,or moderate-income household" means a family with an income at or below 30%,50%or 80%,respectively,of the median income fur the area,with the income limit adjusted for household size in accordance with the methodology of the applicable median income standard. 2. The Lender is to be given notice of any sale or refinancing of the Property that occurs prior to the end of the Retention Period. c. In the event of a sale or refinancing of the Property prior to the end of the Retention Period,an amount equal to a pro rata share of the 57,33 00 Direct Subsidy,reduced by 1/60 for every month the selling Owner owned the Property,shall be repaid to the Lender from any net gain realized upon the sale or refinancing of the Property after deduction for sales expenses,unless: r. the Property was assisted with a permanent mortgage loan funded by an AHP subsidized advance; ii. the Property is sold to a very low-,low-,or moderate-income household,or; iii. following a refinancing,the unit continues to be subject to a deed restriction or other legally enforceable retention agreement or mechanism. 4 Repayment of the Direct Subsidy shall be made to the Lender. Lender is required by Federal Housing Finance Agency regulations to remit any payments received to the Bank. 5. This instrument and these restrictions are subordinate to the rights and liens, if any, under any valid outstanding Mortgage or Deed of Trust,currently of record. The obligation to repay the Direct Subsidy shall terminate after any foreclosure,deed-in-lieu of foreclosure,or assignment of first Mortgage or Deed of Trust to the Secretary of the L.S. Department of Housing and Urban Development(HUD). 6. Owner understands and agrees that this instrument shall be governed by the laws of the State of Missouri and that venue for any action to enforce the provisions of this instrument shall be in Cape Girardaeau County. EXECUTED this 3rd day of August, 20µ. By: H/-N—� WL . Title: Owner Printed Name:Diana a urph By 1/4-/QT Title: Owner Pridd Name:Regina Lester (Owner Acknowledgment) THE STATE OF MISSOURI COUNTY OF CAPE GIRARDEAU This instn mens was acknowledged before me on this 3rd day of August, 2016 by Diana 0 Murphy and Regina Lester (Owner). By: 114 Title: maty Public,State of Missouri Printed Name. Ty ter fat. My commission expires(mrdtyyyyy. racy 1% 101.0 MFR Row Notvy emsA -Toy sail SYta Meaor i eson nm�wn� 0nwi CwMliaslm tbrOsa42297 Exhibit A All that pan of Lou Six(6)and Seven(7), Block Four(4)of Rodney Vista,a Subdivision of Out lot Seventy-Nine (79) U. S. P. Survey NO. Twenty-One Hundred Ninety-Nine(2199) in the City and County of Cape Girardeau Missouri. Title of Document: Date of Document: RECORDER OF DEEDS COVER PAGE Release of Lien September 9, 2026 Grantor(s) Name & Address: City of Cape Girardeau 44 North Lorimier Street Cape Girardeau, MO 63701 Grantee(s) Name & Address: Diana D. Murphy and Regina Lester 2768 Adeline Avenue Cape Girardeau, MO 63701 Legal Description: All that part of Lots Six (6) and Seven (7), Block Four (4) of Rodney Vista, a Subdivision of Out Lot Seventy -Nine (79), U.S.P. Survey No. Twenty -One Hundred Ninety -Nine (2199) in the City and County of Cape Girardeau, Missouri. Reference Book & Page, if Required: Document No. 2016-08808 RELEASE OF LIEN WHEREAS,Diana D. Murphy and Regina Lester are the owners of a dwelling unit located on the following:described real estate in the City and County of Cape Girardeau, Missouri, more particularly described as follows, to-wit: 2768 Adeline Avenue All that part of Lots Six(6) and Seven (7), Block Four(4) of Rodney Vista, a Subdivision of Out Lot Seventy-Nine (79), U.S.P. Survey No. Twenty-One Hundred Ninety-Nine (2199)in the City and County of Cape Girardeau. Missouri. and WHEREAS,the City of Cape Girardeau.Missouri,previously authorized a grant of money for the repair, rehabilitation, and improvement of said dwelling unit; and WHEREAS,a Deed Restriction for said grant of money was executed by Diana D. Murphy and Regina Lester, on August 3, 2016, said Deed Restriction being recorded in Document No. 2016-08808 in the land records of Cape Girardeau County. Missouri; and WHEREAS, said Deed Restriction constitutes a lien against the above-described property; and WHEREAS,said lien was satisfied upon the expiration of the five(5)year Retention Period as defined in said Deed Restriction; and WHEREAS, said five(5) year Retention Period is now expired. NOW, THEREFORE, comes the CityitManager of the City of Cape Girardeau. Missouri, who, pursuant to Resolution Number37) `. adopted by the City Council of the City of Cape Girardeau, Missouri on September 8, 2026, does hereby remise, release, and forever quit claim said lien against the above-described property on account of the above-described Deed Restriction. Furthermore,the City of Cape Girardeau,Missouri.and its successors and assigns, shall be forever excluded and barred from enforcing said lien. IN WITNESS WHEREOF, this Release of Lien has been executed on this day of September, 2026. (Continued on following page) 1 CITY OF CAPE GIRARDEAU, MISSO RI Dr. Kenn, n kin, City Manager ATTEST: CAS /,' , e urine D4vrs- , )) j 61, Ge& ./ (Printed Name and Title) � '� STATE OF MISSOURI ) y SS. COUNTY OF CAPE GIRARDEAU ) ON THIS Oe\day ofW.ME1, 2026, before me. a Notary Public in and for said state, personally appeared Dr. Kenneth Haskin, City Manager of the City of Cape Girardeau, Missouri. a municipal corporation organized and existing under the laws of the State of Missouri, known by me to be the person described in and who executed the foregoing instrument, and acknowledged that said instrument was signed and sealed on behalf of said City by authority of its City Council. and further acknowledged that he executed said instrument as the free act and deed of said City for the purposes therein stated. M WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal in said State and County, the date first above written. _/_itig I. .. `i Cab re � &\\b . ' itilf (Printed Name) My Commission Expires: e L)3 A VOCAL MCKINNEY NOTARY PUL-NOTARY SEAL STATE OF IASSOUIM W COMMISSION EXPIRES MARCH 2030 CAPE GIRARDEAU COUNTY COMIASSION#1458Bt93 2