Number
031130
Version
Substitute 2
Reference
Sponsor
The Chair
Title
Substitute resolution authorizing the City to enter into an Agreement with Jessica Woody, represented by Attorney Henry J .Gefke, Guardian-ad-litem, ("Woody"), to fully and irrevocably assign to Woody all of its right, title, and interest in the Judgments for the Milwaukee County case nos. 93SC056806, 93SC056811, 99TJ000682, 01CV010452 and NIDC's interest in the mortgage recorded as 6176106.
Analysis
This resolution authorizes City to enter into an Agreement with NIDC and Woody to fully and irrevocably assign to Woody all of its right, title, and interest in the Judgments for the Milwaukee County case nos. 93SC056806, 93SC056811, 99TJ000682, 01CV010452 and NIDC's interest in the mortgage recorded as 6176106, upon payment in the amount of $34,738.86.
Body
Whereas, Woody desires to enter into an agreement with the City of Milwaukee (the "City"), a municipal corporation with its principal offices located at 200 E. Wells St., Milwaukee, Wisconsin, and the Neighborhood Improvement Development Corporation ("NIDC"), a Wisconsin corporation with its principal office located at 841 N. Broadway St., Milwaukee, Wisconsin; and
Whereas, NIDC is the sole and valid owner of a mortgage (the "Mortgage") on the property located at 2534 N. Hubbard St., Milwaukee, Wisconsin, which Mortgage was executed by the owner and mortgagor, Woody and which is more particularly described as document no. 6176106, recorded in the office of the Register of Deeds of Milwaukee County on June 3, 1988, and on which there is currently a principal balance due in the amount of $10,545.83, together with interest accruing at the rate of 12% per annum from May 1, 1988, along with attorney fees and other costs, resulting in a current balance in the minimum amount of $18,237.00, and to which Woody has no defense or setoff; and
Whereas, The City is the sole and valid owner of certain judgments (whether one o...
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