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<br /> � RENTAL PROPERTY REHl�HILZT�TION LIEN , �
<br /> __ � The undersfgned grape=ty awnezs, HILD� M. 11ND MELt�IN D. ���
<br /> _ � CHAMBERLIN thezeafter, the BdRROf�ERS), in consideration of �
<br /> _� �he Zereipt of THREE THOU814PTD SIX H13NDRED SIXTY-TKO !!ND Q
<br /> -_ _ � 50l2fl0 133,662.50) as� a deferred payatent loan from �he CITY `
<br /> - � Q� GR�I�1D ISLl1NQ �Eh�=ea€ter,, the lender� for .ttee . -
<br /> -- _ =ehabilitation, pzeservat'ion and,enhancement of p�imarily � � '
<br /> - �. � . zental: Yesic�ential xea2 pzoperty contafninq one unit foz r�nt
<br /> _ ; oz lease �a �.tenants, �►hich is commonly knovn as. 1604 East. 7th •
<br /> Street -anc� '�egal�y desczfb�d as:
<br /> _ � - ' ' A tit�ct of ground one hun8red thfrty-two t 332} feet by .. •-
<br /> ^" one° hund=ed t100) feet in the southeast guarter of �he �
<br /> sou�h�rest quaztez .ot the northeast qnarter f8E1/4 3W1/9
<br /> . . . � ' NEif'4) `of section ten t 14) torrnship e�even (il), ,North,
<br /> � xanqe aine (9) west of the 6th P.M. �escrfbed as
<br /> follows;- cora�encir.g at a point 200 feet vest. of tbe
<br /> - � southeast car�er o� the east half of the s���hwest �
<br /> •� quarter of the northeas� guazte= (EII2 ���f� NE1/9l of •
<br /> ` � 3ection 10, TovnshYp I1, north, rang� 3 we�� ot tY:e fith
<br /> P.M. thence one hundzed thi=ty t�o (Z321 f�et nort�s,
<br /> " thence one hundred (100I feet west Chence ane Ytundred _
<br /> ���; thirty twa t 132} feet sc,utt,, ther,ce one hun.re3 t 100} — _
<br /> �= feet east to stazting point, containing a fzaction less
<br /> . than one third af an acze. �_
<br /> (hezeinafter, the PROJECTI legal oz eguitab2e title rto which ��
<br /> , is held by the BORROWER, h�Yeby agsee and consent to the �-
<br /> � - : creatian and impc�ition of a lien upon the PROJECT for the
<br /> ' •* benefit af the LE��Ek, �ub3ect to the following terms and "
<br /> , .z .
<br /> *�; ronc3 i t i on�: � �#�
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<br /> ' 1) Such 1•ien sha12. he ln the ful? amount of the deferred ��....;'
<br /> : � payment loan qiven by the LENUEk �� the BURROWER. *
<br /> �'' ,� �..
<br /> • 2) The BORR04TER agzees t'a�.�t any defaul*_ �::'a aa�erior l:c: (=�
<br /> ,+;: � shall be a dePault on th�� iien ar3 sha:.� _�nae� tY�e bala::�e
<br /> - ' hereunder ati anc� ;�ue ar,a payat�2.. , F �
<br /> ��,s�-.�; t .
<br /> . 3? The HdRROWER �gree�: po k�e� c3wElliy�q unit i*: �he PR03ECT ;
<br /> — �—_���`:� � � , in goo8 conditian and IEF)3�.Y� fully tena�le arid nut ta re�arve ' �'
<br /> ..;�� or demolish any dwelliny anit thereon: ta c�mplete or restare � �
<br /> . �--,.:;: gramptly anc3 i:, :�c�� ,�racl w�xY.:a-a:.'. i�:e m��nnur ��ii� :'_w�1lir,g nnit �
<br />� '•� �a'' it�'eich rr�ay �e cr:.��Y��rte:d, clr,roa���� ar c3E•.�t•xnyc•c3 tr._reot� �nd t� }
<br /> '�'��'� pay When due AII _Y•_i�'C,l:� f ° .�� .� perfozn,ecl sr3d matie.ial:;
<br /> .( L,.. y �
<br /> _ JT Y.1�. i.. � 1
<br /> .� y �-•''�'�' fuxnlshed ta the rFtfi3ECT: -�:. c�niply �uitt, �11 :aw� affectir�g
<br /> .. , -~�-'x.`�'` sald PROJ�CT or req�i:. ing 7:�y �.�t:��rati�r,:: or im�Y�vemc:nts to
<br /> '`', . ''_.••` `=-': , b� made �hcrec�n� nvt ta cammit ar �e °rnit W�iL:tE t}�er.caf• nat Y
<br /> -�'_: - i I i
<br /> J '��� . �� ' ta commit, suffer ox �erinit any act t;he=eon in v.iolation ��f ;' .
<br /> , ���:�: ."' � lav. . .
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<br /> . . ' : ..; - _ 9? The BOP.ROW�R �c�Ye��- : ta pz�vid�, m�iF�t�3n and d�iivc�z '�
<br />, . � � . the L�NLEP. evidence vf fiz� �nd exten�:ied c:uvEYac�E� ir�sur.ai,ce �
<br /> - � � satisfac�tary tc, ttne LEtJDEP. ir, tt�e ordcr ar,ci am�ur�t :stifiit'1nI��: ^
<br /> -''`' . , ; • _ to pezmit rep�ir vr r��,Iace��en� puz��,ar�t tc} ��.r�c}ra�h �, _
<br /> , .� abnve, af tPie balance Dt2ty�c'1hC31.Sl�J nf tt�i�:, I icn.
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