HomeMy Public PortalAbout2009.06.23 Letter RE lease for lot 5 McCall Avenue HomesCITY OF MCCALL
June 23, 2009
Jodi Frederick
Century 21
RE: 1547 McCall Avenue, McCall, Idaho
Dear Jodi,
The home located at 1547 McCall Avenue, McCall Idaho is subject to the terms of the original
Ground Lease agreement recorded on May 23, 2007, instrument #321618. It is important to note
that according to the terms of that original ground lease (Section One) the premises can only be
used for community/workforce housing. If your buyer would want to use the home for anything
else, they would be in default under the original Ground Lease.
The First Amendment to lease changed those regulations but also imposed the additional rent if
the property was not community/workforce housing. The current owners, or a buyer, do have the
option of signing the First Amendment to the Ground Lease so their lease would be the same as
the other lots. It is required that where there is a lender involved, the lender should also consent
to the change. The City Council is also considering a complete revision to the ground lease that
may be something your buyer would want to consider. The restated lease better defines what is
required of both parties. If you wish we can provide you a copy of the draft restated lease.
Sincerely,
BessieJo Wagner
City Clerk
216 East Park Street . McCall, Idaho 83638 . (208) 634-7142 . Fax (208) 634-3038