Title
Subordination of Deed of Trust Associated with Property Secured by a Wake County Affordable Housing Development Loan
Recommended Action
That the Board of Commissioners:
1. Consent to Subordinate +/- 451SF of Sanitary Sewer Easement to be conveyed by Rock Quarry SC Limited Partnership to the City of Raleigh for the development of Rock Quarry Landing in Raleigh; and
2. Consent to Subordinate +/- 360.60 SF of Sanitary Sewer Easement to be conveyed by Rock Quarry SC Limited Partnership to the City of Raleigh to assist in the development of Terrace at Rock Quarry in Raleigh; and
3. Consent to Subordinate +/- 360.60 SF of Sanitary Sewer Easement to be conveyed by Rock Quarry SC Limited Partnership to Terrace at Rock Quarry Limited Partnership to assist in the development of Terrace at Rock Quarry in Raleigh; and
4. Authorizes the Chair to execute the Consent and Subordination sections of the three aforementioned Sanitary Sewer Easements (along with any other supporting documentation), subject to the terms and conditions acceptable to the County Attorney.