Release of Mortgage_Town Clock Bldg. Co._823-835 Main St. Copyrighted
February 5, 2018
City of Dubuque Consent Items # 23.
ITEM TITLE: Signed Contract(s)
SUMMARY: I IW, PC Technical Services Task Order No. 17-03 for the
17th Street/W. Locust Street Storm Sewer Improvements
Project; I IW, PC Technical Services Task Order No. 18-01
for 22nd St./Kaufmann Ave. Storm Sewer Improvement
Project; Pillar Design Studios, LLC for Dubuque Skate Park
Designer and Landscape Architect; Releases of Mortgage
for Duaine Greenfield (190 Main St.); Hartig Realty I I,
LC (703 Main St.); Don Junk (65-73 Main St.); Security
Investments, LLC (800 Main St.); Security Partners, LP
(800 Main St.); and Town Clock Building Co. (823-835 Main
St.).
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
II W, PC Technical Services Task Order No. 17-03 Supporting Documentation
II W, PC Technical Services Task Order No. 18-10 Supporting Documentation
Pillar Design Studios, LLC ContacVBond Supporting Documentation
Release of Nbrtgage- Duaine Greenfield Supporting Documentation
Release of Nbrtgage- Hartig Realty I II, LC Supporting Documentation
Release of Nbrtgage- Don Junk Supporting Documentation
Release of Nbrtgage- Town Clock Building Co. Supporting Documentation
Release of Nbrtgage- Security Investments, LLC Supporting Documentation
Release of Nbrtgage- Security Partners, LP Supporting Documentation
�l1bUGll2 Emnomic Development Department
THE CITY OF �, so west 13b street
AI4A�eiwGry Dubuque, lowa 52001-0564
�UB E 'I����I�' o�ce,s63,s��93
TTV(563)690b6]8
http://www.dryofdu buqu e.org
Masterpiece on the Mississippi ?�°;.i�;;
TO: Michael Van Milligen, City Manager
FROM: Jill M. Connors, Economic Development Project Coordinator
SUBJECT: Release of Mortgage for 823-835 Main Street— Downtown Rehabilitation
Loan DRLP#2-01
DATE: January 18, 2018
INTRODUCTION
The purpose of this memorandum is to inform you of a final loan payment and to
request your signature on a release of mortgage.
BACKGROUND
Town Clock Building Company entered into an agreement in 2001 for a $300,000 loan
for the redevelopment of 823-835 Main Street (the Town Clock Building). At the time, a
mortgage on the property was held as security on the loan.
DISCUSSION
Regular payments have been made on this loan, and a final payment of $88,923.51 was
made to the Finance Department as of September 27, 2017. This closes out the
balance due on the loan.
RECOMMENDATION/ ACTION STEP
I recommend signing the release of mortgage attached to this memo, which will
subsequently be recorded with the County.
Cc: Maurice Jones, Economic Development Director
Jean Nachtman, Finance Director
II II I I II IIIII III II I I I I I I I I II II II I I I II
Dac ID: 008769260001 Type: GEN
Kind: RELEASE OF MORTGAGE
Recorded: 01/19/2018 at 03:39:03 PM
Fee Amt: $7.00 Paqe i of i
Dubuque County Iowa
John Murphy Recorder
File�o 1 V�00000��`"F
Prepared by and return to: Jill Connors, Economic Development Department; 50 W. 13t" Street,
Dubuque, IA 52001, (563) 589-4393
RE: CITY LOT 54 (823-835 MAIN ST)
RELEASE OF REAL ESTATE MORTGAGE
The City of Dubuque, lowa, Economic Development Department, the present owner of the Real
Estate Mortgage hereinafter described and encumbering the above-described real estate, hereby
acknowledges that said Real Estate Mortgage, bearing date of the 28t"of June, 2001 made and executed by �
Town Clock Building Company, mortgagor, to the City of Dubuque Economic Development Department, �
mortgagee, and recorded in the records of the office of the Recorder of the County of Dubuque, State of
lowa, as Instrument No. 9858-01 on the 28t"of June, 2001, is redeemed, paid off, satisfied and discharged
in fulL
Dated this�day of� �Dl�
City of Dubuque, lowa
�„m.�._.
By:
Mi ael C. Van Milligen
City Manager
City of Dubuque
State of lowa )
) ss
Dubuque County )
9n this ���day of �,�.a� c01�, before me, a Notary P�blic, in and for the state of
lowa, personally appeared Michael C. Van Mi igen, to me personally known, and, who being by me duly
sworn, did say that she is the City Manager of the City of Dubuque, lawa; and that the instrument was signed
on behalf of the said City of Dubuque, lowa, by Michael C. Van Milligen, City Manager and that said Michael
C. Van Milligen, acknowledged the execution of the instrument to be her voluntary act and deed and the
voluntary act and deed of the City of Du e, lowa, by it voluntarily executed.
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