HomeMy WebLinkAboutMiscellaneous Correspondence 1986-09-10lsPBI^lGFIELE'
CITY OF SPRINGFIELD
Office of Community & Economic Development Planning and Development Department
CERTIFIED LETTER
September 10,1986
Allen & Joyce Bu11
440 North 24th
Spri ngf i e'ld, 0R 97477
Dear Allen & Joyce:
Th'is letter is being sent to you by certified mail with restricted
de1 i very to veri fy that you are sti I I the owner and occupant of the houseat this address. As a recipient of a home rehabilitation loan from theCity of Springfield, you will recall that the full amount of the 'loan,
including the principle and the origination or interest fee of 7 percent,is due and payable to the City upon sale or transfer of this property.
Sale or transferis defined to include the actual or attempted sa'le bycontract, assignment, lease, rental or other conveyance to any other
person, as we1 I as the transfer by wi 1 1 or i nheri tance to any person other
than a surviving borrower upon the death of one borrower. (Specifically,for instance, using the house as a rental unit whi'le you retain ownershipis not permitted). It will be the practice of the City to contact you
periodically in this manner in order to confirm that no such sale or
transfer has occurred.
Secondly, you should also recall that the terms of this loan require youat all times to keep the house and other improvements on the property
insured against loss or damage by fire. The amount of coverage is to be
adjusted when necessary to reflect not less that the current appraisedvalue of the property and improvements. The City of Springfield, at 225
North 5th Street, is to be named as an additional insured party on thepolicy. If the Lane County Housing Authority has been named on your
insurance policy in the past, please have this changed as soon as possible.
You have also promised to furnish a certificate of this insurance to theCity. This certificate of insurance must be furnished to the City eachyear when your homeowners insurance is renewed. If you have not yet doneSo, please direct your insurance company to send the City the certificateof insurance automatically in the future when you receive notice of and
pay the annual premium.
225 North Sth Street o Springfield, Oregon97477 . 503/726-3753
Fina11y, in keeping with the home rehabilitation pof icies, the City willmake 'dri ve-by' i nspecti ons at two (Zl and fi ve (5) years afterconstructi on completi on i n order to determi ne i f your home i s be'i ngadequately maintained. If this 'drive-by' inspection indicates that youi
home is not being adequately maintained, the City may request that youallow further inspections of your home to be made and that you correct any
maintenance problem discovered by such inspections.
If Iou have questions regarding this 'letter, you may contact Bill Schaubat 726-3753. Thank you for your ass'istance in keeping our records up to
date.
Si ncere.1y,
OhcUl
Bi I I Schaub
Rehab Speci al i st