Resolution of the City of Jersey City, N.J.

City Clerk File No. Res. 09-901Agenda No. 1O.Z.4Approved: OCT 2 8 2009TITLE:RESOLUTION AUTHORIZING THE BUSINESS ADMINISTRATORTO EXECUTE A DISCHARGE OF MORTGAGE AFFECTING150 BIDWELL AVENUE AlA BLOCK 1314, LOT 70.ACOUNCILresolution:offered and moved adoption ofthe followingWHEREAS, on August 8, 2001, Jane Mansfield (Borrower) executed a mortgage in favor oftheCity of Jersey City (City) to secure the City's loan to her in the amount of$5,950.00 made under theHORP Program; andWHEREAS, the loan was made for the purose of making home improvements for a lowormoderate income family and it self-amortizes over five (5) years provided the homeowner residesin the propert and does not sell the propert; andWHEREAS, the mortgage affects propert known as 150 Bidwell Avenue, Jersey City, also knownas Lot 70.A in Block 1314; andWHEREAS, five (5) years have passed since the loan was made and the City is obligated to executea Discharge of Mortgage to remove the mortgage from the public record.NOW, THEREFORE, BE IT RESOLVED, that the Business Administrator isauthorized toexecute a Discharge of the Mortgage of Janie Mansfield dated August 8, 2001 in the sum of$5,950.00 affecting 150 Bidwell Avenue, Jersey City, also known as Lot 70.A in Block 1314.IW/mw10-19-09APPROVAPPROVED AS TO LEGA'=ORM:: ZSCorporation Counseli'r!; ..~ 1)9121Certification Required 0Not Req ul 'redoAPPROVED 9-0RECORD OF COUNCIL VOTE ON FINAL PASSAGE 10/28/09COUNCILPERSON AYE NAY N.V. COUNCILPERSON AYE NAY N.V. COUNCILPERSON AYE NAY N.V.SOnOLANO / GAUGHAN ./ BRENNAN ./DONNElLY ./ FULOP / FLOOD rI /LOPEZ ./ RICHARDSON i/ VEGA, II,l Indicates VoteA~ a meetinJt the M~ai Council of the City of Jersey City, N.J.'\~ / ( K: /'Peter 'M. Brennan. President of CouncilQc.~N.V.-Not Voting (Abstain)