HomeMy WebLinkAboutAgenda - 12-01-1997 - 8e ORANGE COUNTY
BOARD OF COMMISSIONERS
Action Agenda
Item No.
ACTION AGENDA ITEM ABSTRACT
Meeting Date: December 1, 1997
SUBJECT: Magnolia Place Deed of Trust Modifications
DEPARTMENT: Housing and Community Development PUBLIC HEARING: (Y/N)
BUDGET AMENDMENT: (Y/N)
ATTACHMENT(S): INFORMATION CONTACT:
Modification Agreement Tara L. Fikes
TELEPHONE NUMBERS: -- ext. 2490
Hillsborough 732-8181
Chapel Hill 968-4501
Durham 688-7331
Mebane 227-2031
PURPOSE:
To approve Deed of Trust Modifications for two lots in Magnolia Place.
BACKGROUND:
The County has invested approximately $250,000 in Community Development Block Grant (CDBG)
funds and $200,000 in HOME Investments Partnerships Investment Program funds for the Magnolia
Place subdivision in Hillsborough. This subdivision is being developed by the Orange Community
Housing Corporation for first-time homebuyers. HOME and CDBG funds have been used for the
construction of public improvements and remain in the project as a second mortgage for
homebuyers, thereby, reducing the amount of the buyer's first mortgage.
Because of a surveying error, two lots, which have been sold, must be reconfigured in order to
properly configure a remaining lot. Because the County has second lien Deed of Trusts on these
lots, a release of Orange County's present lien to the extent of the land being given to the adjacent
lot in the transaction is necessary. The County Attorney has reviewed this situation and the
Modification Agreements and has approved the same. It has been determined that the County's lien
position will be the same after this transaction as it was before.
RECOMMENDATION(S):
The Manager recommends approval of Deed of Trust Modifications for two lots in Magnolia Place.
2
Prepared by and return to: Bagwell& Holt, P.A., 100 Europa Drive, Suite 421,Chapel Hill,North Carolina 27514
STATE OF NORTH CAROLINA
COUNTY OF ORANGE
FIRST MODIFICATION TO DEED OF TRUST
This FIRST MODIFICATION TO DEED OF TRUST("Modification") is made as of this_day of
November, 1997,by and among ORANGE COUNTY,NORTH CAROLINA("Beneficiary"),DOUGLAS A.
ROBERTS AND JANE E.ROBERTS ("Grantor")and GEOFFREY GLEDHILL,TRUSTEE("Trustee").
WITNESSETH
WHEREAS,Grantor executed that certain Deed of Trust(the"Deed of Trust")to Trustee dated August
30, 1996 and recorded August 30, 1996 in Book 1506,Page 338,Orange County Registry;and
WHEREAS,the Deed of Trust secures a Promissory Note dated August 30, 1996 in the principal amount
of Eleven Thousand Twenty-five and no/100 Dollars($11,025.00)payable to Beneficiaries;and
WHEREAS,the parcel described in the Deed of Trust has been reconfigured and the revised property
description of the parcel is set forth in Exhibit A attached hereto and incorporated herein by reference;and
WHEREAS,Grantor desires to subject to the lien of the Deed of Trust the property more particularly
described in Exhibit A(the"Property")attached hereto and to release its lien on any land within the description on
the Deed of Trust as originally executed and recorded but not within the description of the land as reconfigured and
described in Exhibit A attached hereto;
NOW THEREFORE,in consideration of the mutual covenants,conditions,promises and obligations of the
parties hereto,Grantor,Beneficiaries and Trustee agree as follows:
1. "Property"as used in the Deed of Trust shall mean the Property as described in Exhibit A attached
hereto. Grantor hereby grants and conveys to Trustee,her heirs,successors and assigns the Property TO HAVE
AND TO HOLD with all rights,privileges and appurtenances thereto belonging to the said Trustee,her heirs,
successors and assigns forever,upon the trust,terms and conditions,and for the uses as set forth in the Deed of
Trust as amended by this Modification,and on the same terms and conditions as set forth in the Deed of Trust as ,
amended by this Modification. Grantor covenants with Trustee that Grantor is seized of and has the right to convey
the Property in fee simple;that the Property is free and clear of all encumberances except for the lien of the Deed of
Trust and Grantor will warrant and defend title to the Property and the priority of the lien of the Deed of Trust as
amended by this Modification against the claims of all persons whomsoever. The Trustee and the Beneficiary have
remised and released and by these presents do remise,release and forever quitclaim unto the Grantor and his heirs
and assigns all that land not included in the tract described in Exhibit A attached hereto but included in the tract
described in the Deed of Trust as originally recorded in Book 1506,Page 338,Orange County Registry,TO HAVE
AND TO HOLD said lands to him the said Grantor,and his heirs and assigns,free and discharged form the lien of
said Deed of Trust herein abofe referred to.
2. This Modification will inure to the benefit of and bind the respective heirs,personal
representatives,successors and permitted assignees of the parties hereto.
3. Except as amended by this Modification,the Deed of Trust continues in full force and effect and
each of the provisions of the Deed of Trust shall remain enforceable in accordance with its terms.
4. Grantor hereby ratifies and confirms all of the terms and conditions of the Deed of Trust as
' 3
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amended by this Modification and agrees that this Modification shall in no manner affect or impair any of the lien,
security interest or any of the rights created in the Deed of Trust,and the lien,security interest and rights created in
the Deed of Trust are not in any manner other than as expressly stated above waived. Grantor further agrees that the
Deed of Trust as amended by this Modification creates a valid and existing lien against the Property in favor of
Beneficiary to secure the secured indebtedness.
5. If any clause or provision of this Modification is determined to be illegal, invalid or unenforceable
under any present or future law by the final judgment of a court of competent jurisdiction,the remainder of this
Modification will not be affected thereby.
6. The Trustee,by joining in the execution of this Modification,evidences its knowledge of the
provisions hereof and consents to the modifications herein made.
7. Unless otherwise defined or modified herein,all terms shall have the definitions ascribed to them
in the Deed of Trust.
IN WITNESS WHEREOF,each of the undersigned has hereunto set his/her hand and seal or, if a
corporation,has caused this instrument to be executed in its corporate name the day and year first above written.
ORANGE COUNTY
Attest: By.
Beverly A.Blythe William L.Crowther
Clerk to the Board of Commissioners Chair,Orange County Board of Commissioners
(SEAL)
Douglas A.Roberts
(SEAL)
Jane E. Roberts
(SEAL)
Geoffrey Gledhill,Trustee
4 ,
NORTH CAROLINA
COUNTY OF
1, ,a Notary Public of the County and State aforesaid,do hereby certify
that Beverly A.Blythe personally appeared before me this day and acknowledged that she is Clerk to the Board of
Commissioners for Orange County,and that by authority duly given and as the act of said County,the foregoing
instrument was signed in its name by the Chairman of said Board of Commissioners and attested by her as Clerk to
said Board of Commissioners.
Witness my hand and official seal,this day of , 1997.
My commission expires:
Notary Public
NORTH CAROLINA
COUNTY OF
I,a Notary Public of the County and State aforesaid,certify that Douglas A. Roberts and Jane E.Roberts,
personally appeared before me this day and acknowledged the due execution of the foregoing instrument.
Witness my hand and official stamp or seal,this_day of , 1997.
Notary Public
My Commission expires:
NORTH CAROLINA
COUNTY OF a
1, ,a Notary Public of the County and State aforesaid,certify
that Geoffrey Gledhill,Trustee,personally appeared before me this day and acknowledged the execution of the
foregoing instrument.
Witness my hand and official seal,this day of , 1997.
My commission expires:
Notary Public
f
Exhibit A
BEING all of revised Lot 17, MAGNOLIA PLACE, according to that plat and survey thereof
entitled"RECOMBINATION FOR MAGNOLIA PLACE, LOTS 15, 16 & 17", and recorded in
Plat Book,, Page_, Orange County Registry,to which plat reference is hereby made for a
more particular description of same.
6
EXHIBIT B
1. 1997 ad valorem property taxes,not yet due and payable.
2. Easements,rights-of-way and restrictive covenants of record.
7
Prepared by and return to: Bagwell& Holt, P.A., 100 Europa Drive, Suite 421,Chapel Hill,North Carolina 27514
STATE OF NORTH CAROLINA
COUNTY OF ORANGE
FIRST MODIFICATION TO DEED OF TRUST
This FIRST MODIFICATION TO DEED OF TRUST("Modification')is made as of this_day of
November,1997,by and among ORANGE COUNTY,NORTH CAROLINA("Beneficiary"),DAIN E.VINES
AND ANISSA VINES("Grantor")and GEOFFREY GLEDHILL,TRUSTEE("Trustee").
WITNESSETH
WHEREAS,Grantor executed that certain Deed of Trust(the"Deed of Trust")to Trustee dated August 8,
1996 and recorded August 8, 1996 in Book 1498,Page 148,Orange County Registry;and
WHEREAS,the Deed of Trust secures a Promissory Note dated August 8, 1996 in the principal amount of
Twelve Thousand Five Hundred and no/100 Dollars($12,500.00)payable to Beneficiaries;and
WHEREAS,the parcel described in the Deed of Trust has been reconfigured and the revised property
description of the parcel is set forth in Exhibit A attached hereto and incorporated herein by reference;and
WHEREAS,Grantor desires to subject to the lien of the Deed of Trust the property more particularly
described in Exhibit A(the"Property")attached hereto and to release its lien on any land within the description on
the Deed of Trust as originally executed and recorded but not within the description of the land as reconfigured and
described in Exhibit A attached hereto;
NOW THEREFORE,in consideration of the mutual covenants,conditions,promises and obligations of the
parties hereto,Grantor,Beneficiaries and Trustee agree as follows:
I. "Property"as used in the Deed of Trust shall mean the Property as described in Exhibit A attached
hereto. Grantor hereby grants and conveys to Trustee,her heirs,successors and assigns the Property TO HAVE '
AND TO HOLD with all rights,privileges and appurtenances thereto belonging to the said Trustee,her heirs,
successors and assigns forever,upon the trust,terms and conditions,and for the uses as set forth in the Deed of
Trust as amended by this Modification,and on the same terms and conditions as set forth in the Deed of Trust as
amended by this Modification. Grantor covenants with Trustee that Grantor is seized of and has the right to convey
the Property in fee simple;that the Property is free and clear of all encumberances except for the lien of the Deed of
Trust and Grantor will warrant and defend title to the Property and the priority of the lien of the Deed of Trust as
amended by this Modification against the claims of all persons whomsoever. The Trustee and the Beneficiary have
remised and released and by these presents do remise,release and forever quitclaim unto the Grantor and his heirs
and assigns all that land not included in the tract described in Exhibit A attached hereto but included in the tract
described in the Deed of Trust as originally recorded in Book 1498,Page 148,Orange County Registry,TO HAVE
AND TO HOLD said lands to him the said Grantor,and his heirs and assigns,free and discharged form the lien of
said Deed of Trust herein abofe referred to.
2. This Modification will inure to the benefit of and bind the respective heirs,personal
representatives,successors and permitted assignees of the parties hereto.
3. Except as amended by this Modification,the Deed of Trust continues in full force and effect and
each of the provisions of the Deed of Trust shall remain enforceable in accordance with its terms.
4. Grantor hereby ratifies and confirms all of the terms and conditions of the Deed of Trust as
8
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amended by this Modification and agrees that this Modification shall in no manner affect or impair any of the lien,
security interest or any of the rights created in the Deed of Trust,and the lien,security interest and rights created in
the Deed of Trust are not in any manner other than as expressly stated above waived. Grantor further agrees that the
Deed of Trust as amended by this Modification creates a valid and existing lien against the Property in favor of
Beneficiary to secure the secured indebtedness.
5. If any clause or provision of this Modification is determined to be illegal, invalid or unenforceable
under any present or future law by the final judgment of a court of competent jurisdiction,the remainder of this
Modification will not be affected thereby.
6. The Trustee,by joining in the execution of this Modification,evidences its knowledge of the
provisions hereof and consents to the modifications herein made.
7. Unless otherwise defined or modified herein,all terns shall have the definitions ascribed to them
in the Deed of Trust.
IN WITNESS WHEREOF,each of the undersigned has hereunto set his/her hand and seal or,if a
corporation,has caused this instrument to be executed in its corporate name the day and year first above written.
ORANGE COUNTY
Attest: By:
Beverly A. Blythe William L.Crowther
Clerk to the Board of Commissioners Chair,Orange County Board of Commissioners
(SEAL)
Dain E.Vines
(SEAL)
Anissa Vines
(SEAL)
Geoffrey Gledhill,Trustee
9
NORTH CAROLINA
COUNTY OF
I, ,a Notary Public of the County and State aforesaid,do hereby certify
that Beverly A. Blythe personally appeared before me this day and acknowledged that she is Clerk to the Board of
Commissioners for Orange County,and that by authority duly given and as the act of said County,the foregoing
instrument was signed in its name by the Chairman of said Board of Commissioners and attested by her as Clerk to
said Board of Commissioners.
Witness my hand and official seal,this day of , 1997.
My commission expires:
Notary Public
NORTH CAROLINA
COUNTY OF
I,a Notary Public of the County and State aforesaid,certify that Dain E.Vines and Anissa Vines,
personally appeared before me this day and acknowledged the due execution of the foregoing instrument.
Witness my hand and official stamp or seal,this_day of , 1997.
Notary Public
My Commission expires:
NORTH CAROLINA
COUNTY OF
1, ,a Notary Public of the County and State aforesaid,certify
that Geoffrey Gledhill,Trustee,personally appeared before me this day and acknowledged the execution of the
foregoing instrument.
Witness my hand and official seal,this day of , 1997.
My commission expires:
Notary Public
10
Exhibit A
BEING all of revised Lot 15, MAGNOLIA PLACE, according to that plat and survey thereof
entitled"RECOMBINATION FOR MAGNOLIA PLACE, LOTS 15, 16 & 17", and recorded in
Plat Book_, Page_, Orange County Registry, to which plat reference is hereby made for a
more particular description of same.
, 11
EXHIBIT B
1. 1997 ad valorem property taxes,not yet due and payable.
2: Easements,rights-of-way and restrictive covenants of record.
Mail r.,: Bagwell_ b dolt, F.A. 100 Guro�a Drive Sui_t_e 421 ChaPg?11! t Nor h .a o1 tna 7514 12
This Instrument was prepared by: Thomas R. Ilolt, Attorney at Law
RELEASE DEED — RD-1 Printed by James Williams h Co.,Inc.,P.O.Box 127,Yadkinville,N.C.27055
STATE OF NORTH CAROLINA, Orange County.
THIS DEED, made and entered into this day of November 1997,by and between
Geoffrey Gledhill Trustee, hereinafter called Trustee,and Orange County. North
Carolina, a body pol3tie hereinafter called Note Holder, party of the first part,and
Dain E. Vines and Anissa Vines ,hereinafter referred to as party of the second pat,all of
WITNESSETH: That,Whereas,said party of the second part heretofore executed to said Trustee,a certain deed of trust,dated
August 8 , 1996 ,and recorded in Book 1498 ,Page 148 , Oran¢e
County Registry,to secure a certain note therein set out due and payable to the said Note Holder,party of the first part, A
and WHEREAS, said party of the second part has requested the said Trustee,and the said Note Holder,party of the first part,to
release from the lien of said deed of trust so much of the land therein.conveyed as is hereinafter described,and the said Note Holder,
party of the first part has agreed to do so and has requested said Trustee to join in said release:
NOW THEREFORE, said parties of the first part, for and in consideration of the sum of Ten and 00/100---------
-------------- -- Dollars to them paid by the said party of the second part,have remised and released and by
these presents do remise,release and forever quitclaim unto the said party of the second part and his heirs and assigns certain lands
situate in the County of Orange and State of North Carolina,in
Ilillsborough Township,and more particularly described as follows:
BEGINNING at an iron located in the common line between lots 15 and 16,MAGNOLIA
PLACE SUBDIVISION,as shown at Plat Book 73,Page 47,Orange County Registry,which
said iron is located S 75 deg 20'07"E 16.27 feet from the westernmost point of said common
line,and running with said common line S 75 deg 20'07"E 67.94 feet to a point,thence with a
new line S 88 deg 46'47"W 33.16 feet to an iron,thence with another new line N 61 deg. IT 05"
W 37,17 feet to the place and point of BEGINNING,and being all of that 308 square foot Parcel
"C",according to that plat and survey thereof entitled"RECOMBINATION FOR MAGNOLIA
PLACE,LOTS 15, 16& 17",and recorded in Plat Book_, Page_,._,Orange County
Registry,to which plat reference is hereby made for a more particular description of same.
TO HAVE AND TO HOLD said lands to him,the said party of the second part,and his heirs and assigns,free and discharged from
the lien of said deed of trust herein above referred to.
But it is understood and agreed that this release shall apply only to so much of said lands as are herein expresslydeactibedand
conveyed,and that the remainder of said lands shall remain subject to the lien of said deed of trust,and shall remain in full force and
effect.
When reference is made to the Trustee,any Party or Parties,or to the Note Holder or the Note,the singular shall include the plural
and the masculine shall include the feminine or the neuter.
IN TESTIMONY WHEREOF,said Trustee,and said Note Holder,party of the first part,have hereunto set their hands and seals,the
day and year first above written,and Orange County, North Carolina, a body politic
Char rman o is Boar at omm ss oners
XK6g5saatlttr,has caused this deed to be signed in its name by its t and attested b is
Clark to the Board of Commissioners the day and year first above w�1tten. '
Trustee (SEAL)
eo rey a rustee
(SEAL)
(SEAL)
Orange County, North Carolina, a body politic
Attest:
every y e By
Clerk to the Board of Commissioners William L. Crowther
Chair, Orange County Board of Commi.ssinners
Mail To Bagwell_6 H4Lt,_��A��__LO_ZBur�oa�riV_e_,-_�_te,421.Chapel Hi 11 , North Carolina 77914
13
This Instrument was prepared by: Thomas R. Molt, Attorney at Law
RELEASE DEED — RD-1 Printed by Janes Williams h Co.,Inc.,P.O.Boa 127,Yadkinville,N.C.27055
STATE OF NORTH CAROLINA, Orange County.
THIS DEED, made and entered into this day of November 1997,by and between
Geoffrey Gledhill, ,Trustee, hereinafter called Trustee,and Orange County, North \
Carolina, a body politic hereinafter called Note Holder,party of the First part,and
Douglas A. Roberts and Jane E. Roberts ,hereinafter referred to as party of the second part,all of
WITNESSETH: That,Whereas,said party of the second part heretofore executed to said Trustee,a certain deed of trust,dated
August 31 19 96,and recorded in Book 1506 ,page 338 Orange
County Registry,to secure a certain note therein set out dire and payable to the said Note Holder,party of the First part, ?
and WHEREAS, said party'of the second part has requested the said Trustee,and the said Note Holder,party of the first part,to
release from the lien of said deed of trust so much of the land therein conveyed as is hereinafter described,and the said Note Holder,
party of the first part has agreed to do so and has requested said Trustee to join in said release:
NOW THEREFORE, said parties of the first part, for and in consideration of the sum of Ten and 00/100----------
-------------------------Dollars to them paid by the said party of the second part,have remised and released and by
these presents do remise,release and forever quitclaim unto the said party of the second part and his heirs and assigns certain lands
situate in the County of Orange and State of North Carolina,in
Hillsborough Township,and more particularly described as follows:
BEGINNING at an iron located along the edge of the right-of-way of the cul-de-sac of Pond Lily
Court,said iron being located in the westernmost point of the common litre between lots 16 and
17,MAGNOLIA PLACE SUBDIVISION,as shown in Plat Book 73,Page 47,Orange County
Registry,and running thence with said common line N 69 deg.44'58"E 52.62 feet to a point,
thence with a new line S 72 deg.41'51"W 29.46 feet to an iron,thence with another new line S
66 deg.00'50"W 23.25 feet to the place and point of BEGINNING,and being all of that 40
square foot Parcel"A"as shown on that plat and survey thereof entitled"RECOMBINATION
FOR MAGNOLIA PLACE,LOTS 15, 16& 17",and recorded in Plat Book ,Page ,
Orange County Registry,to which plat reference is hereby made for a more particular description
of same.
TO HAVE AND TO HOLD said lands to him,the said party of the second part,and his heirs and assigns,free and discharged from
the lien of said deed of trust herein above referred to.
But it is understood and agreed that this release shall apply only to so much of said lands as are herein expressly described and
conveyed,and that the remainder of said lands shall remain subject to the lien of said deed of trust,and shall remain in full force and
effect.
When reference is made to the Trustee,any Party or Parties,or to the Note Holder or the Note,the singular shall include the plural
and the masculine shall include the feminine or the neuter.
IN TESTIMONY WHEREOF,said Trustee,and said Note Holder,party of the first part,have hereunto set their hands and seals,the
day and year first above written,and Orange County North Carolina, a body politic
` Chairma�i pE its Board of 5%nnissioners
310orpp®atiax has caused this deed to br.'-ued in its- .name yrta :and attests its
'lerk to the Board of Commissioners the day and year first above written.
Trustee (SEAL)
e�ffrey C e ,
(SEAL)
(SEAL)
Orange County, North Carolina, a body politic
Attest:
Beverly A. Blythe -' William L. Crowther
Clerk to the Board of. Commissioners
Chair, Orange County Board of Commissioners
14
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deHrmaolbn
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wit•c REFERENCES _—_– -'--_
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11E EUTIA"Or LeCIXGR01A10 COWAKRS 08 14 M//J7
FILE I wY " M°'IM"W' of I,a/ MAGNOLIA PLACE, LOTS 1
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BLOCK 7OtM10611ON WHIM OMSn AT nK nW HILLSBOROUGH MR, ORANGE COUNTY, P.
OF PO MrfY. YM.AM oOW4"C W AAWA Of M Lort1S*00 W By MOM Lai FIELD WORK PERFORMED MAY
nlE VWON """°'0°'T'11°8 OWNERS PROPERTY AS DESCRIBED IN DEED BOOK
Come STANDING IN THE NAME U
or'�e, Ilrc ORANGE COUNTY COMMUNITY HOUSING
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