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South Bend Redevelopment Commission <br />Regular Meeting —May 3, 2002 <br />6. NEW BUSINESS (CONT.) <br />B. Housing <br />(3) continued... <br />Under the Rental Rehab loan program <br />ten percent of the loan will be waived <br />each year if the conditions of the <br />program are met. The dwelling has been <br />inspected by the Building Department <br />and those conditions have been met. <br />This Certificate of Waiver forgives <br />$2,600.00 as of March 4, 2001. <br />Upon a motion by Ms. Roemer, <br />seconded by Ms. Jones and unanimously <br />carried, the Commission approved the <br />Certificate of Waiver for property <br />located at 422 N. College Street. <br />(Housing Development Corporation) <br />(4) Commission approval requested for <br />Satisfaction of Obligations and <br />Release of Mortgage for property <br />located at 422 N. College St. (Housing <br />Development Corporation) <br />Mr. Rock advised that all obligations <br />under the Real Estate Mortgage and <br />Security Agreement related to the Rental <br />Rehab loan for 422 N. College St. have <br />been waived or satisfied and the <br />mortgage may be released. <br />COMMISSION APPROVED THE CERTIFICATE OF <br />WAIVER FOR PROPERTY LOCATED AT 422 N. <br />COLLEGE STREET. (HOUSING DEVELOPMENT <br />CORPORATION) <br />Upon a motion by Ms. Roemer, COMMISSION APPROVED THE SATISFACTION OF <br />seconded by Ms. Jones and unanimously OBLIGATIONS AND RELEASE OF MORTGAGE FOR <br />carried, the Commission approved the <br />PROPERTY LOCATED AT 422 N. COLLEGE ST. <br />(HOUSING DEVELOPMENT CORPORATION) <br />Satisfaction of Obligations and Release <br />of Mortgage for property located at <br />L <br />