HRA RES 19-02HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR
THE CITY OF ELK RIVER
CITY OF ELK RIVER
SHERBURNE COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2019- 02
RESOLUTION APPROVING FIRST AMENDMENT TO MORTGAGE AND ASSIGNMENT
Section 1. Recitals.
1.01 On October 20, 2017, the Board of Commissioners (the "Board") of the Housing
and Redevelopment Authority in and for the City of Elk River, Minnesota (the "HRA") provided
a loan in the amount of $21,640 (the "Loan") to Kyle A. Torfin and Jennifer R. Torfin (referred
to collectively as the "Mortgagors") pursuant to its Owner -Occupied Housing Rehabilitation
Program which was secured by a secured by a Mortgage and Repayment Agreement (Elk River
HRA Owner -Occupied Housing Rehabilitation Program) provided by the Mortgagors (the
"Mortgage").
1.02 Kyle A. Torfin has requested that the HRA execute and deliver a First
Amendment to Mortgage and Assignment and Assumption Agreement (the "First Amendment to
Mortgage and Assignment") whereby Jennifer R. Torfin will assign her interest in the Mortgage
to Kyle A. Torfin and Kyle A. Torfin will assume all obligations under the Mortgage, including
the sole obligation to repay the Loan.
NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners (the "Board") of
the Housing and Redevelopment Authority in and for the City of Elk River (the "HRA") as follows:
Section 2. Approval of Documents.
2.01. The First Amendment to Mortgage and Assignment is hereby in all respects
approved together with any related documents necessary in connection therewith (the "Amendment
Documents"), and the Chair and Executive Director are hereby authorized and directed to execute
the Amendment Documents on behalf of the HRA and to carry out, on behalf of the HRA, the
HRA's obligations thereunder.
2.02. The approval hereby given to the Amendment Documents includes approval of such
additional details therein as may be necessary and appropriate and such modifications thereof,
deletions therefrom and additions thereto as may be necessary and appropriate and approved by
legal counsel to the HRA and by the Chair and Executive Director prior to executing said
Amendment Documents; and said officers are hereby authorized to approve said changes on behalf
of the HRA. The execution of any instrument by the Chair and Executive Director shall be
conclusive evidence of the approval of such document in accordance with the terns hereof. In the
event of absence or disability of said officers, any of the Amendment Documents authorized by this
Resolution to be executed may be executed without further act or authorization of the Board by any
duly designated acting official, or by such other officer or officers of the Board as, in the opinion of
the City Attorney, may act in their behalf.
560349v1 TSR FTI 95_11
Approved by the Board of Commissioners of the Housing and Redevelopment Authority in
and for the City of Elk River, Minnesota this 1 st day of April, 2019.
ATTEST-
560349v17SB EL185-13