BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, SITTING AS THE BOARD OF COMMISSIONERS OF THE HOUSING AUTHORITY OF THE COUNTY OF SAN MATEO, STATE OF CALIFORNIA
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RESOLUTION AUTHORIZING THE EXECUTION AND RECORDATION OF DECLARATION OF TRUST FOR El CAMINO VILLAGE
RESOLVED, by the Board of Supervisors of the County of San Mateo, sitting as the Board of Commissioners of the Housing Authority of the County of San Mateo, State of California, that
WHEREAS, the Housing Authority of County of San Mateo acquired real property (APN: 008-121-190) to develop the public housing complex now known as El Camino Village; and
WHEREAS, soon after the property was acquired, the Housing Authority obtained funds from the U.S. Department of Housing and Urban Development (HUD) and three other funding sources to complete the construction of El Camino Village, and these three funding sources had recorded a total of four liens against the subject property; and
WHEREAS, the U.S. Department of Housing and Urban Development requires that a Declaration of Trust be recorded in superior lien position for all property acquired, developed, maintained, or assisted with funds from the U.S. Housing Act of 1937, federal law governing public housing agencies; and
WHEREAS the Declaration of Trust required by HUD was not recorded against the property; and
WHEREAS, the above-referenced three funding sources have all executed agreements to allow subordination of their respective liens to the Declaration of Trust; and
WHEREAS, there has been presented to the Board of Commissioners for its consideration and acceptance, a Declaration of Trust reference to which is hereby made for further particulars, and the Board has examined and approved the same as to form and content.
NOW, THEREFORE, IT IS HEREBY RESOLVED that the President of this Board Commissioners be, and is hereby authorized to execute and record said Declaration of Trust in superior lien position for El Camino Village , and the Clerk of this Board shall attest the President’s signature thereto.
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