MEMORANDUM

City of Lawrence

Planning and Development Services Department

TO:              David L. Corliss, City Manager

FROM:         Danelle Dresslar, Community Development Manager, Planning and Development Services

CC:                  Scott McCullough, Director, Planning and Development Services

DATE:           September 23, 2013

RE:              Subordination Agreement

The Community Development Division received a request for a Subordination Agreement for a lien the City holds for a loan recipient.  The information regarding the requests follows:

In 1998, Robyn Brecheisen (Now Robyn Savannah), 1504 E. 21^st Terrace, participated in the City’s Homeowners Out of Tenants (HOOT) Program.  In order to participate in the program, they were required to sign a mortgage and mortgage note to protect the City’s interest in the property.  Ms. Savannah wishes to finance a primary mortgage on the property.  In order to do so the City must subordinate the lien to the loan with Arvest Mortgage Company.  The City’s interest will be protected and staff recommends approval. 

The City Clerk will have the document for the Mayor's signature.  If you have further questions, please let me know.