Laserfiche WebLink
JW South Bend Redevelopment Commission <br />Regular Meeting - December 17, 1993 <br />6. NEW BUSINESS (Cont.) <br />p. continued... <br />waspreviously suborinated to a first <br />mortgage. As part of the refinancing to a <br />larger mortgage, we are being asked to <br />subordinate our mortgage again. Our loan <br />will be in the same position it was in before <br />the refinancing. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Sharp and unanimously carried, the <br />Commission approved the Subordination <br />Agreement with Valley American Bank & <br />Trust for property located at 313 E. Ewing. <br />(George Athens) <br />q. Commission approval requested for Loan in <br />connection with the West Washin on- Chapin <br />Loan Program for property located at 616 - <br />618 W. Lasalle. (Theresa A. Williamson) <br />Mrs. Kolata noted that the loan is a 20 year <br />loan in the amount of $15,800 at 3 % interest. <br />Payments will be $87.63 per month. <br />Upon a motion by Mr. Piasecki, seconded by <br />Mr. Sharp and unanimously carried, the <br />Commission approved the $15,800 loan in <br />connection with the West Washington - Chapin <br />Loan Program for property located at 618 <br />W. LaSalle. (Theresa A. Williamson) <br />-20- <br />COMMISSION APPROVED THE <br />SUBORDINATION AGREEMENT WITH <br />VALLEY AMERICAN BANK & TRUST FOR <br />PROPERTY LOCATED AT 313 E. EWING. <br />(GEORGE ATHENS) <br />COMMISSION APPROVED THE $15,800 LOAN <br />IN CONNECTION WITH THE WEST <br />WASHINGTON - CHAPIN LOAN PROGRAM <br />FOR PROPERTY LOCATED AT 618 W. <br />LASALLE (THERESA A. WILLIAMSON) <br />