HomeMy WebLinkAboutDoc 185 - Modify Deed - Little Desch LodgeDeschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 -Fax (541) 385-3202 -www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of March 28, 2012
Please see directions for completing this document on the next page.
DATE: March 20, 2012
FROM: Teresa Rozic Property & Facilities 385-1414
TITLE OF AGENDA ITEM:
Consideration of Board Authorizing Interim County Administrator to sign of Document 2012-185, a
Modification of Deed of Trust between Deschutes County, Beneficiary, and Little Deschutes Lodge
Limited Partnership, Grantor.
PUBLIC HEARING ON THIS DATE? No
BACKGROUND AND POLICY IMPLICATIONS:
In 2009, Deschutes County provided a loan to Little Deschutes Lodge Limited Partnership ("LDL") in
the amount of $1 03 ,000 to assist with the development of Little Deschutes Lodge in La Pine, which
provides affordable apartments for seniors. The project opened in February 2010.
LDL partitioned the land on which the project was built, originally 4.5 acres, to allow for the
development of a second phase north of the Phase 1 building. Oregon Housing and Community
Services has funded the Phase 2 and the LDL is preparing to start the project.
The Deschutes County loan is the only encumbrance related to the development of the Phase 1 building
that has not been removed from the Phase 2 parcel. Because LDL wishes to present the Phase 2 parcel
to prospective funders with clear title, they request that Deschutes County remove the lien related to the
original project from the Phase 2 parcel. The encumbrance will remain, unchanged, on the Phase 1
project parcel. The request is to limit the encumbrance to the development for which the loan was
awarded.
FISCAL IMPLICATIONS:
None
RECOMMENDATION & ACTION REQUESTED:
Staff recommends Board authorize Interim County Administrator to sign Document 2012-185.
ATTENDANCE: Teresa Rozic
DISTRIBUTION OF DOCUMENTS:
Original to Teresa Rozic for recording with the County Clerk.
DESCHUTES COUNTY DOCUMENT SUMMARY
(NOTE: This form is required to be submitted with ALL contracts and other agreements, regardless of whether the document is to be
on a Board agenda or can be signed by the County Administrator or Department Director. If the document is to be on a Board
agenda, the Agenda Request Form is also required. If this form is not included with the document, the document will be returned to
the Department. Please submit documents to the Board Secretary for tracking purposes, and not directly to Legal Counsel, the
County Administrator or the Commissioners. In addition to submitting this form with your documents, please submit this form
electronically to the Board Secretary.)
Please complete all sections above the Official Review line.
Date: @/20/121 Department: §~rty & F acilitiesl
Contractor/Supplier/Consultant Name: ILittie Deschutes Lod e Limited Partner~
Contractor Contact: IRob Ro~ Contractor Phone #: 54J -382-6373.
Type of Document: Modification of Deed of Trust
Goods and/or Services: N/A
Background &History: In 2009, Deschutes County provided a loan to Little
Deschutes Lodge Limited Partnership ("LDL") in the amount of $103,000 to assist with
the development of Little Deschutes Lodge in La Pine, which provides affordable
apartments for seniors. The project opened in February 2010.
LDL partitioned the land on which the project was built, originally 4.5 acres, to allow for
the development of a second phase north of the Phase 1 building. Oregon Housing and
Community Services has funded the Phase 2 and the LDL is preparing to start the
project.
The Deschutes County loan is the only encumbrance related to the development of the
Phase 1 building that has not been removed from the Phase 2 parcel. Because LDL
wishes to present the Phase 2 parcel to prospective funders with clear title, they request
that Deschutes County remove the lien related to the original project from the Phase 2
parcel. The encumbrance will remain, unchanged, on the Phase 1 project parcel. The
request is to limit the encumbrance to the development for which the loan was awarded.
Agreement Starting Date: IUpon signatur~ Ending Date: '----
Annual Value or Total Payment: toj
N/Ao Insurance Certificate Receiv~<t(ch~ck box)
Insurance Expiration Date: I I
N/A
Check all that apply: o RFP, Solicitation or Bid Process o Informal quotes «$150K)o Exempt from RFP, Solicitation or Bid Process (specify -see DCC §2.37)
N/A
Funding Source: (Included in current budget? 0 Yes o No
3/20/2012
If No, has budget amendment been submitted? Yes No
Is this a Grant Agreement providing revenue to the County? Yes ~ No
Special conditions attached to this grant:
Deadlines for reporting to the grantor:
If a new FTE will be hired with grant funds, confirm that Personnel has been notified that
it is a grant-funded position so that this will be noted in the offer letter: DYes 0 No
Contact information for the person responsible for grant compliance: Name:
Phone #:
Departmental Contact and Title: Teresa Rozic Phone #: 385-1414
Department Director Approval: ---f~---_I/_~----
( Signature Date
Distribution of Document:
Original to Teresa Rozic for recording with the County Clerk
Official Review:
County Signature Required (check one): 0 SOCC 0 Department Director (if <$25K)
o Administrator (if >$25K but <$150K; if >$150K, SOCC Order No. ____-i)
Legal Review Date
Document Number 2012-185
3/20/2012
__
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-.--_._--
Until a change is requested,
all tax statements shall be sent to the following address:
Little Deschutes Lodge LP
5 N.W. Minnesota Ave.
Suite 210
Bend, OR 97701
After Recording Return to:
Deschutes County
Property & Facilities Dept.
14 NW Kearney Ave.
Bend, OR 97701
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
MODIFICATION OF DEED OF TRUST
THIS MODIFICATION OF DEED OF TRUST dated March 28, 2012, is made and executed between LITTLE
DESCHUTES LODGE LIMITED PARTNERSHIP, ("Grantor"), MARK PILLlOD, Deschutes County Legal Counsel
("Trustee") and DESCHUTES COUNTY, STATE OF OREGON ("Beneficiary").
WHEREAS, Grantor executed and delivered a Deed of Trust dated April 24, 2009 (the "Deed of Trust"),
recorded April 27, 2009, in Book 2009, Page 17257, Official Records of Deschutes County, Oregon; and
WHEREAS, the Grantor and Beneficiary have agreed to amend the Deed of Trust legal description;
NOW THEREFORE, Grantor and BenefiCiary for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, modify the real property legal description in the Deed of Trust to read as
follows: I
J
"PARCEL 1 OF PARTITION PLAT NO. 2010-01, CITY OF LA PINE, DESCHUTES COUNTY, OREGON, FILED l,
FEBRUARY 19, 2010 IN VOLUME 2010-07355 OFFICIAL RECORDS OF DESCHUTES COUNTY, OREGON."
Except as expressly modified above, the terms of the original Deed ofTrust shall remain unchanged and in full
force and effect. Consent by Beneficiary to this Modification does not waive Trustee's or Beneficiary's right to
require strict performance of the Deed of Trust as changed above nor obligate Beneficiary to make any future
modifications. Nothing in this Modification shall constitute satisfaction of the promissory note or other credit
agreement secured by the Deed ofTrust (the "Note"). It is the intention of Beneficiary to retain as liable all
parties to -the Deed of Trust and all parties, makers and endorsers to the Note, including accommodation
parties, unless a party is expressly released by Beneficiary in writing. Any maker or endorser, including !
accommodation makers, shall not be released by virtue of this Modification. If any person who Signed the
original Deed of Trust does not sign this Modification, then all persons signing below acknowledge that this
Modification is given conditionally, based on the representation to BenefiCiary that the non-signing person
consents to the changes and provisions of this Modification or otherwise will not be released by it. This waiver Iapplies not only to any initial extension or modification, but also to all such subsequent actions. !.
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DC-2012-185 Page 1 of 3
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BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE
ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS
5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009,
AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE
PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND
REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO
THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY
THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN
ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS
ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, AND TO INQUIRE
ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 AND
195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17,
CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010.
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MODIFICATION OF DEED OF TRUST
AND GRANTOR AGREES TO ITS TERMS.
GRANTOR:
L1TILE DESCHUTES LODGE LIMITED PARTNERSHIP
By: PC Affordable Housing Inc., General Partner
By: _____________________________
John N. Gilbert, III, President
By: _____________________________
Robert C. Roy, Vice President I
STATE OF OREGON )
) ss.
County of Deschutes ) I
f
This instrument was acknowledged before me on this ___ day of March, 2012 by John N. Gilbert, III, fPresident of PC Affordable Housing Inc., the general partner of Little Deschutes Lodge Limited Partnership, on
behalf of said partnership.
Notary Public for State of Oregon IMy commission expires: __________
STATE OF OREGON ) ,
) ss.
County of Deschutes )
This instrument was acknowledged before me on this ___ day of March, 2012 by Robert C. Roy, Vice I
President of PC Affordable Housing Inc., the general partner of Little Deschutes Lodge Limited Partnership, on !
behalf of said partnership. f
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Notary Public for State of Oregon IMy commission expires: _________ iDC-2012-185 Page 2 of3
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TRUSTEE and BENEFICIARY hereby accept the Deed ofTrust as herein modified.
BENEFICIARY: DESCHUTES COUNTY, STATE OF OREGON
By: ______________________
Erik Kropp
Interim County Administrator
By: _________~___
Mark Pilliod, Deschutes County Legal Counsel, TRUSTEE
APPROVED AS TO LEGAL SUFFICIENCY:
County of Deschutes Legal Counsel
DC-2012-185 Page 3 of3