2017-019 Approving Partial Release of Mortgage for the Property Located at 100 19th Avenue SouthRESOLUTION NO. 2017-019
CITY OF HOPKINS, MINNESOTA
RESOLUTION APPROVING A PARTIAL R�LEASE OF MORTGAGE
FOR THE PROPERTY LOCATED AT 100 19T" AVENUE SOUTH
WHEREAS, Daniel J. Nichols and Sharon L. Nichols are the fee owners (the "Owners") of the
property located at 100 19`h Avenue South in the City of Hopkins, (the "Property"), which is
legally described on Exhibit A, attached hereto ; and
WHEREAS, the Owners granted the city of Hopkins (the "Cify") a mortgage dated
December 10`", 2014 in an amount of $45,720.00 (the "Mortgage"); and
WHEREAS, the Mortgage was filed with the Hennepin County property records on or about
December 17'�', 2015 as Document number T05314113; and
WHEREAS, the Owners have requested that the City provide a partial release of the Mortgage
to allow them to convey a portion of the Property to a neighbor; and
WHEI2EAS, a copy of the partial release of mortgage is attached hereto as Exhibit B; and
WHEREAS,the City's interest in the Mortgage will remain unchanged following a partial
release of the Mortgage, as the full amount of the Mortgage will remain encumbered upon the
land remaining under the ownership of the Owners.
NOW, THEREFORE BE IT RESOLVED, the City Counci] of the City of Hopkins hereby
approves the adoption of this Resolution approving a partial release of the mortgage at 100 19°i
Avenue South, Hopkins. City staff is directed to prepare any other documents that may be
required to effectuate tl�is transaction.
ADOPTED by the City Council on February 2151, 2017.
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Molly C mmings, Mayor
ATTEST:
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Amy Domeier, City Clerk
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EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
All that part of the Southeast Quarter of the Southeast Quarter of Section 23, Township 117,
Range 22 described as follows: beginning at the point of intersection of the north line of the right
of way of the Chicago, Milwaukee and St. Paul Railway Company with a line parallel with and
660 feet west at right angles from the east line of said Quarter-Quarter, thence North 4953 feet
to a point of beginning of the land to be described; thence North parallel with the east line of said
Southeast Quarter of the Southeast Quarter a distance of 97 feet; thence West at right angles a
distance of 168 feet; thence South aY right angles a distance of 97 feet; thence East at right angles
to the point of beginning, Hennepin County, Minnesota.
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EXHIBIT B
FORM OF PARTIAL RELEASE OF MORTGAGE
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PAkTIAt RELEASE Of MORTGAGE
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kachibit A
Tv Partiat Relcas= of M{ortgage
Al! tha� part of tlie Southenst Quartcr nf tlrc So�thrast Quvtrs of 5r.ctio;i 23, Tow:uhi� i i 7,
Range 22, des:riUed as fulluws: fk�,Rnning e[ the point uf inlerstction of che nozth li�ae of tl�at
right o{way of d�e Chicaga. Mitweuke�c er,d 5�. Paul Ruilaay CompanY. with e linc pafalk2 witt�
an�i 660 (a�t ucy�, mi rig61 mgles from the ess, line of said Qusrtcr-C�untter, c6ence Narth �92.3
fect co a �xtint of sxginning ot ttic land t� 6e dexrilxd; thrrs;� Nunh parst'.el w�th thc ca;t line o[
said S�utl�cast Qiurtcr o£ the Southces[ Qiutrter a distance of 97 tee;; thence \Vest nt ri�ht a�igics
a distance o1' 168 Icet; thenco Sovth a ri�[ angla x<lis,ancc �C 122,00 Icd: ;hencc F'.sst at cight
antics 32.50 PeG1; t6cnte \orlh tu rigln angles 25AU fect; thenoe east ar right nagles W Ok puin3
of xbinning; rxccpt th� no�cd 50 teet thereo(, F{enncp:o County, htinncsula
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