93-22 Amended Resolution Authorizing Subordination of Mortgage for the Property at 12 Eagle Terrace.pdf

93-22 April 5, 2022 RESOLUTION WHEREAS, the Township of West Orange Housing Rehabilitation Program has a mortgage against certain real property owned by Justina Thompson (the “Owner”) residing at 12 Eagle Terrace, West Orange (the “Property”), also designated as Block 148, Lot 13 on the tax map of the Township of West Orange (the “Township”), in the amount of Fourteen Thousand Nine Hundred Seventy-Six Dollars ($14,976.00), which was recorded in the Essex County Register’s Office on December 14, 2005 in Book 10926, Page 452 (the “WOHRP Mortgage”); and WHEREAS, on January 26, 2021, the Township Council adopted Resolution 12-21 authorizing the execution of a Subordination Agreement to allow the Owner to refinance her mortgage with Wells Fargo Bank, N.A. (“Wells Fargo”) by subordinating the WOHRP Mortgage to the new Wells Fargo mortgage; and WHEREAS, the Subordination Agreement contained an error related to the original recording date of the WOHRP Mortgage which barred the Subordination Agreement from being recorded by the Essex County Register’s Office; and WHEREAS, the Wells Fargo has requested that an Amended Subordination Agreement be executed to correct the recording date of the WOHRP Mortgage on the Property; and NOW THEREFORE, BE IT RESOLVED BY THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF WEST ORANGE, that the Mayor be and hereby is authorized to execute an Amended Subordination of Mortgage, annexed hereto as Exhibit “A,” in favor of Wells Fargo Bank, N.A. with respect to the Property and the Owner; and be it further RESOLVED, that the Municipal Clerk be and is hereby authorized to attest to the Mayor’s signature on the Subordination of Mortgage; and be it further;

2 4835-9282-3254, v. 1 RESOLVED, that a copy of this Resolution shall be made available in the Clerk’s office in accordance with applicable law. Karen J. Carnevale, R.M.C. Susan McCartney Township Clerk Council President Adopted: April 5, 2022