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Bou 94 mu,306 <br />WHEREAS, non-profit organizations may be eligible sponsors to <br />receive SHIP loans, sign county mortgage documents and promissory <br />notes, and build housing units; and <br />WHEREAS, non-profit organizations must transfer ownership of <br />assisted housing units to eligible households, and new owner <br />households must sign mortgage assignment and loan assumption <br />agreements and assume all responsibilities to pay back county SHIP <br />loans when the assisted unit is sold; and <br />WHEREAS, the Board of County Commissioners must consent in <br />writing to any Local Housing Assistance Program mortgage assignment <br />and loan assumption agreement or designate a member of the staff to <br />review and approve mortgage assignment and loan assumption <br />agreements; <br />NOW THEREFORE, BE IT RESOLVED by the Board of County Commissioners <br />of Indian River County, Florida that: <br />Section 1. <br />The above recitals are ratified in their entirety. <br />Section 2. <br />The ..Board of County Commissioners authorizes the Community <br />Development Director or his designee to review and approve the <br />Local Housing 'Assistance Program mortgage assignment and loan <br />assumption agreements. <br />The foregoing resolution was offered by Commissioner <br />E a a e r t , and seconded by Commissioner Ti 12pi n , and <br />being put to a vote, the vote was as follows: <br />Chairman Kenneth R. Macht Abc�nt, <br />Vice Chairman, Fran B. Adams Aye _ <br />Commissioner Richard N. Bird Aye _ <br />Commissioner Carolyn K. Eggert Aye _ <br />Commissioner John W. Tippin Afire _ <br />The Chairman thereupon declared the resolution duly passed and <br />adopted this 7 day of Februaryl995. <br />Board of County Commissioners <br />of Indian River County <br />By . <br />Gtr ti� <br />Fran B. Adams. Vire Chairman <br />FEBRUARY 7, 1995 82 <br />M, =I <br />