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HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER CITY OF ELK RIVER SHERBURNE COUNTY STATE OF MINNESOTA RESOLUTION NO. 2019- 02 RESOLUTION APPROVING FIRST AMENDMENT TO MORTGAGE AND ASSIGNMENT Section 1. Recitals. 1.01 On October 20, 2017, the Board of Commissioners (the "Board") of the Housing and Redevelopment Authority in and for the City of Elk River, Minnesota (the "HRA") provided a loan in the amount of $21,640 (the "Loan") to Kyle A. Torfin and Jennifer R. Torfin (referred to collectively as the "Mortgagors") pursuant to its Owner -Occupied Housing Rehabilitation Program which was secured by a secured by a Mortgage and Repayment Agreement (Elk River HRA Owner -Occupied Housing Rehabilitation Program) provided by the Mortgagors (the "Mortgage"). 1.02 Kyle A. Torfin has requested that the HRA execute and deliver a First Amendment to Mortgage and Assignment and Assumption Agreement (the "First Amendment to Mortgage and Assignment") whereby Jennifer R. Torfin will assign her interest in the Mortgage to Kyle A. Torfin and Kyle A. Torfin will assume all obligations under the Mortgage, including the sole obligation to repay the Loan. NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners (the "Board") of the Housing and Redevelopment Authority in and for the City of Elk River (the "HRA") as follows: Section 2. Approval of Documents. 2.01. The First Amendment to Mortgage and Assignment is hereby in all respects approved together with any related documents necessary in connection therewith (the "Amendment Documents"), and the Chair and Executive Director are hereby authorized and directed to execute the Amendment Documents on behalf of the HRA and to carry out, on behalf of the HRA, the HRA's obligations thereunder. 2.02. The approval hereby given to the Amendment Documents includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the HRA and by the Chair and Executive Director prior to executing said Amendment Documents; and said officers are hereby authorized to approve said changes on behalf of the HRA. The execution of any instrument by the Chair and Executive Director shall be conclusive evidence of the approval of such document in accordance with the terns hereof. In the event of absence or disability of said officers, any of the Amendment Documents authorized by this Resolution to be executed may be executed without further act or authorization of the Board by any duly designated acting official, or by such other officer or officers of the Board as, in the opinion of the City Attorney, may act in their behalf. 560349v1 TSR FTI 95_11