HomeMy WebLinkAboutAgenda - 09-20-2005-5jORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: September 20, 2005
SUBJECT: Subordination Reouest -UCC Livi
DEPARTMENT: Housing/Comm. Development
Action Agenda
Item No. ~_~_
;enters, Inc.
PUBLIC HEARING: (Y/N) No
ATTACHMENT(S): INFORMATION CONTACT:
Tara L. Fikes, ext, 2490
Letter from Corporate Office
Consent Agreement TELEPHONE NUMBERS:
Map of Area Hillsborough 732-8181
Chapel Hill 968-4501
Durham 688-7331
Mebane 336-227-2031
PURPOSE: To consider the execution of a Deed of Trust Beneficiary and Trustee Consent and
Subordination to Grant of Access Easement as requested by UCC Living Centers, Incorporated.
BACKGROUND: On April 7, 1998, the Qrange County Board of Commissioners approved the
reimbursement of school facilities impact fees in the amount of $120,000 to UCC Living
Centers, Inc, This reimbursement was made in support of the development of a 40-unit
apartment complex for the low-income elderly constnacted at the corner of Smith Level Road
and Culbreth Roads in Carrboro known as Covenant Place Apartments. As required, UCC
Living Centers, Inc, executed an Agreement and Deed of Tnist securing the $120,000
reimbursement and the requirement that the property would be maintained as affordable
housing to families with incomes at or below 50% of the area median income far a period of 99
years,
At this time, UCG Living Centers, Inc. is requesting that the County execute a Deed of Trust
Beneficiary and Tnastee Consent and Subordination to Grant of Access Easement that is
required for a FHA insured refinancing of the adjacent property where the Shepherd House
Assisted Living is currently located, A copy of the request to the County Manager is enclosed
along with a copy of the Consent and Subordination Request document and a map of the area.
The County Attorney has reviewed this request and has determined that execution of this
document does not materially affect or weaken the County's lien position,
FINANCIAL IMPACT: None
RECOMMENDATION(S): The Manager recommends approving the execution of a Deed of
Trust Beneficiary and Trustee Consent and Subordination to Grant of Access Easement for the
UCC Living Centers, Inc, and authorizing the County Attorney to execute the document as
Trustee,
Shepherd House
Carparate Office
William G. Benton
1105 Brookstown Avenue
Winrton-Salem, North Carolina 27101
336-724-1000 ext, 102
336-724-6765 fax
Apri122, 2005
Mr..John Link
Change Gounty Manager
too Cameron St,
Hillsborough, NC 2'J2g8
Re: Covenant Apartments and Shepherd House, Chapel Hill
Request for Consent and Subordination to Grant of Access Easement
Dear Sir:
Enclosed please find a "Deed of Trust Beneficiary and Trustee Consent and Subordination
to Grant of Access Easement", which I respectfully request that Grange County execute.
The County holds a mortgage against Covenant Place Apartments, UCC Living Center,
Inc, As I understand it, your mortgage was put in place in lieu of cash to cover a school
impact fee which was applied to the low income apartments at Covenant Place, I include a
copy of a letter from Mr.,John Lister, Chair of UCC Living Center explaining the
situation,
The consent is needed in conjunction with an FHA insured refinancing of the adjacent
property, Shepherd House Assisted Living,
If you would please be good enough to have the appropriate parties execute the consent on
behalf of the County, and return to me in the enclosed self-addressed stamped envelope, I
would be most appreciative. I note that Mr, Geoffrey E. Gledhill is Trustee, Please contact
me if you have any questions or comments, With best regards, I am
Sin y you ,
.,
Will' m G. Benton
WC>B/lwl
Copy: Steve Garland
Henry A. Lister, PhD
Rick Edens
DEED OF TRUST BENEFICIARY AND TRUSTEE
CONSENT AND SUBORDINATION
TO
GRANT OF ACCESS EASEMENT
The undersigned, as the holder of and the trustee under that certain Deed of Trust
recorded in Book 2766, Page 377, Orange County, North Cazolina Register of Deeds (the
"Deed of Trust"), do hereby enter into this Consent and Subordination to Grant of Access
Easement (the "Consent") to acknowledge their consent to the Easement by and between
UCC Living Centers, Incorporated and Chapel Hill Assisted Living, Inc. recorded at
Book RB3541, Page 1 (the "Easement") and to subordinate their rights as the holder and
Trustee of said Deed of Trust to the Easement and all of the rights created thereby,
IN WITNESS WHEREOF, the undersigned have executed this Consent to the
Easement as of the day of , 2005 by authority duly given.
ORANGE COUNTY
By:
Authorized Signatory
Geoffrey E. Gledhill, Trustee
STATE OF NORTH CAROLINA
COUNTY OF
I, ,Notary Public for said County and State, do
hereby certify that personally appeazed before
me this day and acknowledged that (s)he is the of Orange
County, a North Cazolina body politic, and that (s)he, as being
authorized to de so, executed the foregoing on behalf of the County,
Witness my hand and official seal, this the _, day of
Notary Public
My commission expires:
(Notary Seal/Stamp]
DTCM/259607 v t
4
x********~******************~****************************************x~*
STATE OF NORTII CAROLINA
COI7N'rY OF
I, , a Notary Public of the County
and State aforesaid, certify that GEOFFREY E. GLEDHILL, Trustee, personally
appeared before me this day and aclmowledged the due execution of the foregoing
instrument,
WITNESS my hand and Notarial Seal or Stamp, this the day of
.2005.
Notary Public
My Commission Expires:
[Notarial Seal/Stamp)
BTCM/282t65 v 1 2
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