HomeMy WebLinkAboutResolution 1986 - 0127RESOLUTION NO.86-127-11
CONSENTING ¶10 ASSUMPTION BY BEN HAYES,FT AL.OF
N(YITE SECURED BY DEED OF TRUST FROM C.J.HoWE
CONSTRUCrION,INC.FOR THE PURCHASE OF THE
NEWLAND/HN4ILTON PUMP STATION PROPERTY SITE
A RESOLUTION OF THE BOARD OF DIRECIORS OF COUNTY
SANITATION DISTRICT NO.11 OF ORANGE COUNTY,
CALIFORNIA,CONSENTING ¶10 ThE ASSUMPTION BY BEN
HAYES,FT AL.OF NOTE SECURED BY DEED OF TRUST
FROM C.J.HOWE CONSTRUCTION COMPANY FOR THE
PU1~HASE OF THE NEWLAND/HAMILTON PUMP STATION
PROPERTY SITE
WHEREAS,the Board of Directors of County Sanitation District No.11
adopted Resolution No.82-58-11 declaring the Banning Pump Station and the
Newland/Hamilton Pump Station sites to be excess to the present and future needs
of the District and authorized the disposition of the two parcels;and,
WHEREAS,the Newland/Hamilton Pump Station property was sold to C.J.Howe
Construction,Inc.for the sum of $70,000.00;and,
WHEREAS,C.J.Howe Construction,Inc.deposited $7,000 .00 and on June 30,
1983,executed a Note Secured by Deed of Trust in the anount of $63,000.00 which
matures on August 15,1988;and,
WHEREAS,C.J.Howa Construction,Inc.proposes to sell said property to
Mr.Ben Hayes,Mrs.Palmina Hayes and Mrs.Maryann Sandkuhl and said prospective
buyers have requested that they be allowed to assui~the Note which bears
interest at the rate of 12%;and,
WHEREAS,the District’s General Counsel has recoirmended that the Board
of Directors allow the prospective buyers to assune said Note.
NOW,THEREFORE,the Board of Directors of County Sanitation District
No.11 of Orange County,California,
DOES HEREBY RESOLVE,DF~ERMINE AND ORDER:
Section 1 That the prospective buyers of the Newland/Hamilton Pump
Station property site,Mr •Ben Hayes,Mrs.Palmina Hayes and Mrs.Maryann
Sandkuhl,are hereby authorized to assun~that certain Note Secured by Deed of
Trust dated June 30,1983,in the anount of $63,000.00,executed on behalf of
C.J.Howe Construction,Inc.bearing interest at the rate of 12%;and,
Section 2 That upon canpietion of the purchase of the Newland/Hamilton
Pump Station property frau C.J.Howe Construction,Inc.,the new property
owners shall execute all necessary legal docun~nts to effect the assumption of
said Note Secured by Deed of Trust,in form approved by the General Counsel.
PASSED AND ADOPTED at a regular n~eting held August 13,1986.
STATE OF CALIFORNIA)
)ss.
COUNTY OF ORANGE )
I,RITA J.BROWN,Secretary of the Board of Directors of County
Sanitation District No.11 of Orange County,California,do hereby certify
that the foregoing Resolution No.86—127—11 was passed and adopted at a
regular meeting of said Board on the 13th day of August,1986,by the
following vote,to wit:
AYES:Ruth Bailey,Chairman,Roger Stanton,John Thomas
NOES:None
ABSENT:None
IN WITNESS WHEREOF,I have hereunto set my hand and affixed the official
seal of County Sanitation District No.11 of Orange County,California,this
13th day of August,1986.
Rita J.Brown,~ecretary
Board of Directors of County
Sanitation District.No.11
of Orange County,C3lifornia