HomeMy WebLinkAboutMINUTES - 02271990 - 1.12 (2) 4--120
IN THE BOARD OF SUPERVISORS
OF
CONTRA COSTA COUNTY, STATE OF CALIFORNIA
In the Matter of ) RESOLUTION NO. 90/132
Subordinating Liens ) SUBORDINATION OF
Against Esther Davis ) MORTGAGE WITH POWER
OF SALE AND RESOLUTION
AUTHORIZING SAME
The Board of Supervisors of Contra Costa County RESOLVES
THAT:
WHEREAS, on February 5, 1976, surviving joint tenant Esther
Davis executed a Mortgage With Power of Sale in favor of Contra
Costa County in the amount of $9,000 plus 7% interest per annum,
recorded on February 6, 1976 in the Office of the County Recorder
in Volume 7757 of Official Records at page 798 .
WHEREAS, on behalf of Esther Davis, a public conservatee,
the County Public Conservator desires to have the Mortgage with
Power of Sale made subordinate and subject to a second deed of
trust in favor of Savings Associations Mortgage Co. in the amount
of $132, 200.00
WHEREAS, on behalf of Esther Davis, the Public Conservator
desires subordination of the Mortgage With Power of Sale to
obtain a reverse annuity mortgage on Ms . Davis' home for the
purpose of allowing the conservatee to remain in her home.
WHEREAS, the Lien Committee has considered the Subordination
and recommends its approval.
NOW, THEREFORE, the County of Contra Costa, the owner and
holder of said Mortgage with Power of Sale above-mentioned, does
hereby subordinate the same to the deed of trust above-mentioned
as it relates to the property described therein and it is ordered
that the Chairman of the Board sign a certified copy hereof to
constitute and effectuate the subordination.
PASSED AND ADOPTED on Feb.ruary 2.70• 1990. , by the
following vote:
Ayes: SunervisOr.F PowerF , Schroder, McPeak, TorlakFon, Fanden
Noes: None
Absent: Non.e I hereby certify that this Is a true and correct copy of
an action taken and entered on the minutes of the
Board of Supervisors ort tdj?shown.
ATTESTED: [[DD // 199
PHIL BATCHELOR,Clerk of the Board
,olff Supervisors and County Administrator
Deputy
MAM/jh
cc: Administrator (Attn: Terry McGraw)
County Counsel
Public Conservator (Attn: Ednah Friedman)
Auditor (Attn: Ken Corcoran)
RESOLUTION NO. 90/1.32