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DEED CONTRACTS (LOAN SEC.)
~ MEM[} "f'C) : BIL~L._ C:RAI{3 o FROM i<EVIN Lf:}(::KE DA'T'E 2/2/84 Sl.JB,]E(:1' :: SE(:l..J!:~I1'Y [IF L...()A!\IS INV[}L._VIN(3 (:;ON1"~~A(::'T'S FOR I)EE~D I S~)(:J~~e wi.th \:Jerr'e Mi:L:lSlr in l~e'feF'er}Ce tC) f1:l!5 :Lettei=" dated 1/:L6/84 acjcjr"es~5ir')g the barMy-ower' ~){.lrc:tlasir}g (:llles.tiof1 (3f seC:UII-j,;H)g :I.(:)arl~; wher-e .tt'8 his ~)F'Dper.ty l.ln(jer" a l::<Jntr"2(::t .foy" deedu l~i5; letter" ir'}di{::a'te(:j ttlat 2 IT}(JI'-tgage Cln .tt1e Ver1(jee'~; ir"lteir'est ifl r-eal e~;tate is :tega:l ar}d a tect'liqLj2 t~lat, :ir1 fi.L~~ wlJr-d~; W2~5 t.j~;ecj 'fait:"ly o.f.ten as Se(::lll~ity for' lefl(jirlg ager'l(::::Les;" I-ie als;{:) ir'}d:i{::ate{:! ttlaot ottler'oe wel~e groeatelro il-i!~;I,~s ir1v(:)lvecj Wjott1 a tnC)i1o'tgage {o,li~ (::l ver}cjee:S~;; ir1'tell~e~;.t thar'} wittl ~.,~ tll(::)F'tgage on t~le :irloteroest 1~'~' a ,fee C)WrOlei~12 o I ~;CJUgtolt t"t.ol (::],ai~i'fy wt"laot sf:)ec:ial ste~)s we f1eecjed to ta~~e ir\ ~)ll"c)(:::es!;iflg a :l{3an wt'ler'e we ir'lterlded t(3 UE;e a n}(:)rtgage <:)n ttle ver'~dee:ls i,rltell-e~~t tc:) sec:ur~e ttle lC)arlu :[ alscJ wantecj to ~~now t_lrldev'o wtolat c:ilr'(::l,tln!~starl{::e~; we rOleeded tel ta~~e soteps to Se(:tl~looe t!"l8 111(:)ro,.tgage .if1 additj,Clf} ot(:) tt'le mc)~otgage CJrl .t~le verlcjee's iioolte!rOe!~;t~r If1 re~;~:)onse oco 'tt18 fir~~;t Ql18StlOf1 Jero'f-e ir'lcji(::ated t~lat ott12 appli(:arlt ~5h{3t~ld ~JrO(3vj.cle tlS with c(Jr)ies (Jf tt18 cc)ntl~ac:t c)r (:C)n.tF'ac::t~5 f(:Ji1" deeej (If'} t~le ~:)rKo~)ej~ty arOl(:j ttle [.lame (~of: t~le 'f:ee (3Wner"al 'T'tlis :ir1ofc)II"lnatiof1 wC)Lll<j tJS i1"ev-iews(:! by t~)e city aotto~f'ley a~5 ~:)ail-'t (:),f tt'le rlC)F'mal i::)r"ClCeS;;S of reviewii"}g tto12 atlE;tr'al:t af'}(::l 1::)!r'epar"ir1g the loaf1 Cf(3Ctlnlerltsl' FtoJI~o.ttlei:"' m(Ji~e tOle ir'lcjic::ated we WCJl.llcj flee(:j tCJ evalollate wt'leottlel~ t~)e a~:)~)],i(::arlt tla(j ~;uffi{::ier'}t e(:~uity irO} the f)r-<:lpeJr,.ty t~J acjeC~t,la'tely C:(::)Vei~ t~"le ],c:lar1u ~ Wj.th r-egai:"(j~; tCJ tt1e r.eecj "fo~:'o addiotj,ofla]o ofC)~"'fns (:Jof sec:l.li'":i,.ty, \Jer're ir1c1:i!::ate(j ttlat 'tt1SY w(3Llld not r'19c:ess;arj.ly be r1SS(je{:jsl l'~}e ro~eecj fCJf" S;S(:llf"ity in .tt18 'f:l:Jr~in CJ.f as~;igrO}fner1t (J'f ~:o'erlts~l Vef1(jOj~ e}~e{::~.l'ti(~n o.f tt12 nlc:)lr.otgage, etc:: W(3tll(j de~Jer1d or'l othe f:o'elative Il"is~~ c:).f ot~le ~)ajl-oti(:t~llar~ lCJarl :lr1 Ctloje~5tj.(:Jr1 arlcj tt.}S 2(:jequ2{::Y cl.f t~le appl:ic:ar1t!5 eC~ll:ity irl the r)lroc:)~:)er'oty t(J (:OVEI'" .the ].cJan 2tI1CJtlfltu lo~e (j:i.cj ir'lc1:l(:ate t~lat we st'lC}l~lc:1 t1ave tt18 CCJF'~:)C)~/-aote c:)ofofj,c:ei;-s (J'to ar1V C:{Jlr'~)(3r-atiof'1 ~rOe{::e:iv:irlg a l(:)an tC) ~Jelrosor'lally gtlar'Oar')tee tt'18 lCJal1 t)y ~;igr1ir1g t~le no"tsu 1'~}is WOt.j],d a~)p].y to ar'}y loan llf'lcjelJ- tt01e c:C){nfl1el~c:ial ret'latl l(:)arl r)l~ogl~afl1 wtlett.ler i.t was ~5ec::lj~;-e(j witt'l a ITlOi1,.tgage C)rl t~}e verlc:!ee:1~5 :ir'l'tef~est ir} tt12 ~Jrc)~:)ell..ty {Jlro a(Il(:)lrtgage (Jf1 tt.)S ir)'telr'esot of a ofee owneroo:; . t:::' .::~. (;.~ (.:::: .1... IMF~A(:::'r (:IF ABIL..I'Toy 1'(J SE~Cl.JRE ~....!:}A~fS WI'l-!.i A !~[lR"!"(3AGE (JI~ 1'1'~E VE!~I)E~E~~'S II~'l"E~F~~~~~3'r' ]:I~ f~I~~~AL.. E:S'l-A"r'E: o ~.*~.*.**.*~..~.*~.*.**.*.*.*.*.*.*.~.*.**.~**..*.~.~.~.*.~.**.~.***~.*.~.*.***.*.*.~.*.~.~.~.*.*~.~.**.* .~:. .<<:. .t(.. oii:' '~i:' .~.::. .::~:. .l.5o .~(.. .. .. II ., ,. .0 .. to tt Tt'12 at:l:L'lj,ty t(::) ~;ec:t.ll:"e lc)ar1s; W:itt1 a InCJi:-otgage Of'} a vef'ldee:l~s iflteres;t if1 iJr-C:)~Jei:-ty wil:L j.r'~c:r"ea~;e ttle flt.lnlberro (Jof: busir18sses irl tt18 dC)Wf.~tC)Wr1 21"'sa wt"l:ic:t'} carol I:"eadj.ly ~)al,..tic:i~Jate irl 'tr'le (::(:)fllil18tr'(:ia:L Re~lab l_.(:)an F~F'{:)gj~afn'l ~laflY c).f .t~le bllil(jirlgs C10WfltOWf1 are be:lrlg pljl:-c::ha~;e(:j lln(jer- cor'ltl:-ac:t fc:)r ejeec1 ai~l~ar'~gefY}er1ts;ll "fhe m(:JI~.tgage CJn t~le verldee:'s ir'lteir'est :lr'l tt'lE p~:"c:)~)el:...ty ai:-i:"arlgenlerlt w:~ll flla~(e i.t ffillCt1 iTI(];:-e :l:i.~~ely tt'la.t .tt'les;e ~)!/'.ope~r.ty OWt'er"~; <:ar'l arId wil:L paF..tic:ipate il-l ttle 1 (:)ar'} F:: j.... ::::j ;~:.:J i:" .;::~ rn II 'T' t...; ~:.,:! ~':':":. !::) t ]. :L t:. ':-/ t(:) llse tt'li~~~; S2C:lll"'j..ty .te(:~lr'li(~tJe :r' :::r'! .:::: :~~':, .c:: I ........;. ..../ '_u ..... PO.tlC.y' o qtJesti(:)~'1S Wi.ttl ~r'ega~/"ds; t(::~ lCJarl applii:a.t:L(Jns; wtl:~,(::h wer"s r"ec:ej.v8(j ~:)I'-evj.c:)t.l~~;ly" I)Lli:-j.r~g tt12 pa~~~.t -yeal:- we t'lave rlCJt gr"arl.te(j 1(:)arl~5 t<:) apr)li<:af1ts w~}:i(::h (::(:JLtld I-~(J.t se<:t.lr'.s tt1e:il'" 1 (J2fl witt.} a tnOf~tgage C)~"l .tt'~e j.n.tef~est c:}.f 't-t'lS' 'f:ee OWf}Sr"u lW{] apr)li(:atic:lrl~; wey"s r'eceiV8{:! ar'ld ~stlelved ,f:C)f' ttl:is F'eaE;;C)r'l~ TI-le 'fi~'~st wa!~; a I:-e{~llest for" a l(Jarlt:)y Redgi:~erl t~ropel:...ties:! .tt'tS (:)Wner-Ei c).f 'the bt~il(jirlg wtlsr'e BtJd:zs Music: arld ~'i(:)agies al~'e l(::)c:ate(j ar1cl tt'le sec:clflcj wa~; a ].()ar'l !~'equest by tt18 [),f.fice Sto!'~e!;; Irlcu, a flew bl.is:iness :locatecj at 1st Str,oeet 1~(:)I:..ttl ar'lcj j.Ott'l AVent.let:B(:).t~} CJ.f these a~J~)lic:ar'l.tss werlt Of'} 'le:) {na~(eat lea!st ~;(:){l}e .f<:JF'nl {J.f i{Jlf)~/"(3Venlerlt with(~{~t ass:istarl(:e 'f:r"(~fl1 tt'le lc)ar~ r:)r~(:)gF.anlt: Ar'l{j 1'1ei.tt'1e;:" I:~ece:ivecj a loan t)eCal.lse.t~ley c:(:)t~ld r'~(J.t get tt'le -fee (:)Wr'lel:-'~; c)-f ttleir t)lli:l(:I:ir1gs; to sign a l":"'; l"': !'.' .J- r': ;:,",: :"--: i:.~'l ~ t : ....... , '!,~ ....1 ...... ....: ~'h' ,~ 'T' ~'''f E.! c].f.f i c:: E:: ~:::j .t, C) f/" t:?::: -::::. ;:: z f"f -:'::~ ~::; c: c::: rhi t:. :i r'i L.t i!:::' c:t t:. C] f::i Lt I:.' ~:::. t.t E.! r) .::'; r' t:. i c: j. }::) <::'\ t: i C) f'i ir1 .tt")8 (:(3{1~lnell"c:i.al Ret'lat) Lc)ar) Plr"oglroam ancl .theiru ~)el~si!5tar'1(:e ii-t 5;eat"'c:h:irlg f<::)lr' away t(:) Se(:Lli'-e 2 l~et1ab lCJarl j.Tl tt'le ~;:i.ttlati{:Jn whef/he .tt.)S applicarlt i!s fl(Jt .tt'lE .fee ownel~ lead to tt'le c:(Jrl~;;icje~rati(:)f'l c:).f ttlS ffiC:)ir.tgage Clfl a ver'ldee's ir"lter"e~5t {'::t. FJ !:: i:" C) E:i c:: j'''r l: I\ICJW tl"lat we f'}2Ve a fneaf1S (J.f secll~r'ir1g lCJarols .tCJ ~:)r"(Ji:)ei:Mty (3Wnei~~; wt.}O air'e pllr"c~~a~;ir'lg .theii~ b{~il(jir1g!s t.ln(jei:'. a C:of'ltr~~ct .fOi'- d_ee(:j we f1ee(j .to cje(:ic:le t'~(:JW .to a(:jdl:~e~~;~~s tl'18se e>~j.~5tj.f1g loar'la~J~Jli(:a.ti(JnSn ~ F2(Jssit:):!.e ~;C)lllti(Jr'ls tel .th:i~; :iSS;Lle irlc:lt.lcje .t~le two extj:"enle~~;, orOte being ap~):Ly:irlg tl'18 r'18W l(:lan Se(::l~li~:ity ap~Jr"oac~' C:lnJ.y tel 'ftltllF'e lc)ai"} a~)~)lj.{:a.tic)r'l~; arl(j the SS(::Of1(::! t)sing Inakirlg tt'18 a~:)pir'Qach C(:)ITl~J:le.tely J:"etf:"c:)"-"ac.tive arld r"eevaltJat:irlg tt18 tW(:) f:)i:-evi(::)lj~~; ],CJar'l a~)~:)licatj.cJr')s" A tlli(j(Jle gi:-OUflC1 a].tei:~r~a.tive c:(:){Mtld be to all(:)w ttle~5e 2 appl:ic::ar1t!~~; tC) {~se .t~le j.flvestlllsn.t tt')8V t'lave made 'Jrl tt'leir" ~)I"'evic)~.lS ifIl~)I:MCJVen}er1t pl:~o.je(:t a~;; -tt'l8 l11a-tc::t1:irlg stlai~e c)f ar'lY .fl"t.tt.Ilr'e lc)ar1 f"eqlle~s.tsl* 1't'lll~; allc)w:ir'lg tt'lsnl t(::) t:)O~:"!:'"(JW t~p t(:J tt-18 .f:Ltll valtle of tI"leir ~)~:-eViOtlS in~~:)i:"oveil1ei'1t ~)!r'C).ject fOF" a(:jdi't:i.oflal itY}rJF'ovetl1el-l.t~; at tt18 C:itV:I~; ].c:)w irltel"'est i,uatesu