7.1. HRSR 04-01-2019 - Laserfiche WebLink

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560346v1 JSB EL185-13 FIRST AMENDMENT TO MORTGAGE AND ASSIGNMENT AND ASSUMPTION AGREEMENT (ELK RIVER HRA OWNER-OCCUPIED HOUSING REHABILITATION PROGRAM) THIS FIRST AMENDMENT TO MORTGAGE AND ASSIGNMENT AND ASSUMPTION AGREEMENT is made as of April 1, 2019, between Kyle A. Torfin (the “Assignee”), Jennifer R. Torfin (the “Assignor”) and the Housing and Redevelopment Authority in and for the City of Elk River, Minnesota, as mortgagee (the “Mortgagee”). RECITALS A. The Assignee, together with the Assignor, for the benefit of Mortgagee, executed and delivered that certain Mortgage and Repayment Agreement (Elk River HRA Owner- Occupied Housing Rehabilitation Program), dated October 20, 2017, and filed on May 15, 2018, 2017 as Document Number 856048 in the Office of the County Recorder of Sherburne County, Minnesota (the “Original Mortgage”) in connection with a loan provided by the Mortgagee to the Assignee and the Assignor in accordance with its Owner-Occupied Housing Rehabilitation Program. B. The Assignee will acquire the property described in Exhibit A attached hereto (the “Mortgaged Property”) which was subject to the Original Mortgage. C. The Assignor desires to be released from the obligations under the Original Mortgage and to assign her interest therein to the Assignee, and the Assignee is willing to accept the assignment of the Original Mortgage and assume the Assignor’s obligations, rights and interest in, to and under the Original Mortgage, all as more particularly outlined in this First Amendment to Mortgage and Assignment and Assumption Agreement (Elk River HRA Owner- Occupied Housing Rehabilitation Program) (the “First Amendment and Assignment”). D. This is a mortgage amendment as defined in Minnesota Statutes, Section 287.01, Subdivision 2, and as such it does not secure a new or an increased amount of debt. Minn. Stat. 287.05, Subd. 8. Mortgage registry tax was paid with respect to the indebtedness secured by the