HomeMy WebLinkAboutMiscellaneous Correspondence 1986-9-10
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. SPRINGFIELD
CInE ftlfF5 !mIMfiFtELD
Offi?elijfeqMuh~i't)I'l& Economic Development
Planning and Development Department
Orpha Smith
6117 Main
Springfield, OR 97478
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Dear Orpha:
This letter is being sent to you by certified mail with restricted
delivery to verify that you are still the owner and occupant of the house
at this address. As a recipient of a home rehabilitation loan from the
City 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 transfer is defined to include the actual or attempted sale by
contract, assignment, lease, rental or other conveyance to any other
person, as well as the transfer by will or inheritance to any person other
than a surviving borrower upon the death of one borrower. (Specifically,
for instance, us i ng the house as a rental unit whil e you retain ownershi p
is not pennitted). 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.
Secondl y, you shou1 d" a1 so recall that the terms of thi sloan requi re you
at 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 appraised
value of the property and improvements. The City of Springfield, at 225
North 5th Street, is to be named as an additional insured party on the
policy. 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 the
City. This certificate of insurance must be furnished to the City each
year when your homeowners insurance is renewed. If you have not yet done
so, please direct your insurance company to send the City the certificate
of insurance automatically in the future when you receive notice of and
pay the annual premium.
225 North 5th Street . Springfield, Oregon 97477 . 503/726-3753
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Finally, in keeping with the home rehabilitation policies, the City will
make 'drive-by' inspections at two (2) and five (5) years after
construction completion in order to determine if your home is being
adequately maintained. If this 'drive-by' inspection indicates that your
home is not bei ng adequately mai ntai ned, the City may request that you
allow further inspections of your home to be made and that you correct any
maintenance problem discovered by such inspections.
If you have
at 726-3753.
date.
questions regarding this letter, you may contact Bill Schaub
Thank you for your assistance in keeping our records up to
S;~~
Bill Schaub
Rehab Specialist