City of Kansas City, Missouri v. Housing & Economic Development Financial Corporation et al

Filing 1956

ORDER granting 1943 motion to Authorize Receiver to Modify Summit Associates and West Side Associate Loans. Signed by District Judge Gary A. Fenner on 9/4/09. (Mitchell, Lisa)

IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF MISSOURI WESTERN DIVISION THE CITY OF KANSAS CITY, MISSOURI, Plaintiff, vs. HOUSING & ECONOMIC DEVELOPMENT FINANCIAL CORPORATION, and U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, Defendants. ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Case No. 05-00368-CV-W-GAF

ORDER TO AUTHORIZE THE RECEIVER TO MODIFY SUMMIT ASSOCIATE AND WESTSIDE ASSOCIATE LOANS

Having considered the Receiver's Motion to Authorize the Receiver to Modify Summit Associate and Westside Associate Loans (Doc. No. 1943) and having received no objections, it is hereby ORDERED 1. The Receiver is authorized to modify the Summit note to provide monthly

payments of $329.00 beginning on June 1, 2009 continuing through May 1, 2014 and thereafter monthly payments of $1,080.00 beginning June 1, 2014 until the balance is paid in full, pursuant to the Modification Agreement attached as Exhibit A to the Receiver's motion and consistent with a proposed guarantee which is attached as Exhibit C to the Receiver's motion. 2. The Receiver is also authorized to modify the Westside notes to provide monthly

payments of $396.00 beginning on June 1, 2009 continuing through May 1, 2014 and thereafter monthly payment of $1,028.00 beginning June 1, 2014 until the balance is paid in full, pursuant

to the Modification Agreement attached as Exhibit B to the Receiver's motion and consistent with a proposed guarantee which is attached as Exhibit D to the Receiver's motion. s/ Gary A. Fenner Gary A. Fenner, Judge United States District Court DATED: September 4, 2009

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