R13-1201 RESOLUTION NO. R13 -120
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3 A RESOLUTION OF THE CITY COMMISSION OF
4 THE CITY OF BOYNTON BEACH, FLORIDA,
5 APPROVING THE SUBORDINATION OF THE CITY'S
6 MORTGAGE WITH GERALDINE WILLIAMS AND
7 JOHNNY WILLIAMS IN FAVOR OF MORTGAGE
8 ELECTRONIC REGISTRATION SYSTEMS, INC. AS
9 NOMINEE FOR QUICKEN LOANS, INC; AUTHORIZING
10 THE CITY MANAGER TO EXECUTE THE
11 SUBORDINATION AGREEMENT BY THE CITY OF
12 BOYNTON BEACH IN FAVOR OF RESIDENTIAL
13 FINANCE CORPORATION; AND PROVIDING AN
14 EFFECTIVE DATE.
15'
16 WHEREAS, upon recommendation of staff, the City Commission has determined
17 that it is in the best interests of the residents of the City to authorize the City Manager to
18 ' execute a Subordination Agreement in favor of Mortgage Electronic Registration Systems,
19 1, Inc. as nominee for Quicken Loans, Inc., for Geraldine Williams and Johnny Williams.
20 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
21 THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
22 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
23 being true and correct and are hereby made a specific part of this Resolution upon adoption
24 hereof.
25 Section 2. The City Commission of the City of Boynton Beach, Florida does
26 i hereby approve the request for subordination of the City's Mortgages and authorize the City
27 Manager to execute the Subordination Agreement for Geraldine Williams and Johnny
28 I Williams in favor of Mortgage Electronic Registration Systems, Inc. as nominee for Quicken
29 Loans, Inc., a copy of which is attached hereto as Exhibit "A ".
30 Section 3. This Resolution shall become effective immediately upon passage.
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1 PASSED AND ADOPTED thi
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19 ATTEST:
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23 Zity . Prainito, MMC
24 erk
30 y<Y
31 m real)
s5 day of November, 201
CITY OF BOYNTON BEACH, FLORIDA
7
or — Jer Taylo
Vice Mayor — Woodro
Commissione — David T. Merker
Corr. missioner — Michael itzpatrick
Com nissioner — Joe Cassello
I \\Apps3 City Cbb\Auto \Data\200 \Items\ 191 \2793 \3510 \Reso_ - _Subordination _Agreement_ - _Williams Doe
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