209 Locust St-REMOVAL of RESTRICTIONBk: 11024 Pg: 122 ,,, •••
Bk: 11024Pg: 122 Page: 1 of 1
Recorded: 08128/2012 12:50 PM
Property Address: 209 Locust Street, Florence (Northampton), Massachusetts
...... RE.L,,A,i!E~'OF RESTRICTION
The City of Northampton, a Massachusetts municipal corporation with offices located at 210
Main Stree4 Northampton, Massachusetts, acknowledges the tennination of a certain
Community Development Block Grant (CDBG) Program Subrecipient Loan Agreement,
between the City of Northampton and Douglas P. Ferrante ofHaydenville (Williamsburg),
Massachusetts dated October 1, 2002, relative to the property located at 209 Locust Street,
Florence (Northampton), Massachusetts, and hereby releases and discharges the Restriction
granted by Douglas P. Ferrante, which Restriction is dated November 1, 2002 and recorded in
the Hampshire Registry of Deeds on January 31, 2012 in Book 10797, Page 286.
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Executed this '}-"j day of August, 2012.
Witne
COMMONWEALTH OF MASSACHUSETTS
On this '}.. ~ rj. day of August, 2012, before me the undersigned notary public, personally
appeared David J. Narkewicz, Mayor of the City ofNorthamptot4 and proved to me through
satisfactory evidence of identification, which was [ ] MA Driverts License [ ] Personal
knowledge of the identity of the signatory [ ] Other: , to be the
person whose name is signed on the preceding or attached document, and acknowledged to me
that she signed it voluntarily on behalf of the City of No&::. p for its stated purpose. ~\\\\H&liU11111i1. ~~\ ... ses~tr'"'~ ~ '~'1····~04:··~<d\ . ~ __) I "ti i.e~ .. ~7. ~~--...-;....____ a /t.JCJ ~ "i ~ Notary Public ,J, ;·· i \ri. J § My Commission Expires: / _./ U 1..-tJ /'S
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PATllIOIA. .A.. P
TERMINATION OF COMMUNITY
BLOCK GRANT (CDBG) PROGRAM SUBRECIPIENT LOAN AGREEMENT . 'fi--
This Termination Agreement is entered into on this }ti day of July, 2012, by and
between the City of Northampton, a Massachusetts municipal corporation located at 210 Main
Street, Northampton, Massachusetts ("the City'') and Douglas P. Ferrante, of 27 South Main
Street, Haydenville, Massachusetts ("Ferrante").
WHEREAS, the City and Ferrante are parties to a certain Community Development Block Grant
(CDBG) Program Subrecipient Loan Agreement, between the City of Northampton and Douglas
P. Ferrante, dated October 1, 2002 ("Subrecipient Agreement"), and;
WHEREAS, pursuant to the Subrecipient Agreement, the City loaned funds to Ferrante to
rehabilitate the property owned by Ferrante at 209 Locust Street, Northampton, Massachusetts,
in order to provide affordable housing therein, and;
WHEREAS, pursuant to the Subrecipient Agreement, Ferrante granted a Restriction in favor of
the City, which Restriction is dated 1November2002 and recorded on 31January2012 in the
Hampshire Registry of Deeds in Book 10797, Page 286, and;
WHEREAS, Ferrante neither Servicenet nor a similar agency is available to rent the premises,
and Ferrante desires to pay the Note and secure a Release of Restriction pursuant to Section 9 (b)
of the Subrecipient Agreement;
NOW, THEREFORE, for good and valuable consideration, the adequacy and receipt of which is
hereby acknowledged, the parties agree as follows:
1. Ferrante shall pay to the City, by certified or bank check, the sum of Thirty-Eight
Thousand Dollars. ($38,000).
2. At the time of receipt of an executed original of this Agreement and a check in
accordance with the preceding paragraph, the City shall, deliver to Ferrante the following
instruments:
a. a Release of Restriction in the form attached hereto as Exhibit A executed by the
Mayor in a form appropriate for recording in the Hampshire Registry of Deeds and
b. an .IRS Form 1098 showing the allocation of said payment as principal of
$36~007.07 and interest of $1,992.03.
3. Upon deliyery and receipt of the Release of Restriction and the Form 1098 in accordance
with the preceding paragraph, the parties acknowledge and agree that the obligations of the
parties under the Subrecipient Agreement shall immediately terminate.
Executed on the date first stated above.
Witness :~~~-:vi<i:Narkewicz
Mayor
Witness Douglas P. Ferrante
4. This Agreement shall be binding on and will inure to the benefit of the parties hereto and
their respective successors and assigns.
5. This Agreement shall become effective when executed by all parties and may be
executed in identical counterparts, any one of which shall be deemed to be an original
instrument. Any proof of the Agreement shall require production of only one such counterpart
duly executed by the Party to be charged therewith.
6. The parties hereto agree that this Agreement constitutes the entire agreement between the
parties relating to the subject matter of the Agreement and that there are no other agreements,
understandings, representations or warranties made or given, except as expressly set forth herein.
All prior agreements, understandings, letters and/or communications relating to the subject
matter of this Agreement shall be null and void and shall be superseded by this Agreement.
7. This Agreement shall be governed by and construed according to the laws of the
Commonwealth of Massachusetts.
8. The Parties acknowledge that they have executed this Agreement voluntarily and of their
own free will and that each has had the opportunity to seek advice of legal counsel in connection
with the negotiation, preparation and review of this Agreement and that they fully understand the
scope and effect of each provision contained herein.
Executed on the date first stated above.
CITY OF NORTHAMPTON
Witness David J. Narkewicz
8/20/2018 View Activity Funding
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11.16.0_PROD 354
Community Development Systems
Integrated Disbursement & Information Systern (IDIS)
User: C03442
Role: Grantee
Organization:
NORTHAMPTON
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You have 5 CDBG activities that have been flagged. Click on the number to go to the
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Activity Funding
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Activity Owner:
NORTHAMPTON, MA
IDIS Activity ID:
332
Activity Name:
VALLEY INN
Filter Funds
Recipient Name: ·1Aff--------YI
Funds
Program Year/Project:
2002/24
Total Funded:
$54,000.00
Total Drawn:
$54,000.00
Fund Type: ---·------·-·------·--------·----···-·1 Pr~g.ram:
All ,. 1\11 Fund "fype~ ,. 1
· , , Available Recipient
Name
1 Program
1
Fund : Source 1 Source for ; Funded
. Type, Name !Type Funding lAmount
I Drawn
I Amount Action
NORTHAMPTON, CDBG
MA !EN HUD .MC $883,353.58: $37,250.38 $37,250.38 View
NORTHAMPTON, i CDBG
MA
I PI HUD 'MC $0.00 I $16,749.62 $16,749.62: View
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1.is IDIS version was deployed on Wed May 23, 2018 at 21:46
https://idis.hud .gov/idis/funding.do?submit=View&id=114 7500332 1/1