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Loan Agreement

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NEWS
By Mary Gail Hare and Mary Gail Hare,Staff Writer | May 25, 1993
The Sykesville Town Council last night granted the developer of Raincliffe Center, a 32-acre industrial parcel, an extension of a loan agreement negotiated in July.Public financing arrangements for the project were completed nearly a year ago. The town planned to borrow $1.25 million from the state and $250,000 from the county to purchase the center's infrastructure and would repay the loan with taxes collected from businesses on the site."The state and county agreed to loan money to the town, while Sykesville fit the property into a position to collect taxes," said Mayor Kenneth W. Clark at last night's meeting.
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NEWS
By Alison Knezevich, The Baltimore Sun | February 6, 2013
A Baltimore County police union is suing the county retirement system's board of trustees over a $25 million loan the county took from the pension fund to update recycling facilities in Cockeysville. In a lawsuit filed last week in Circuit Court, the Baltimore County Fraternal Order of Police Lodge No. 4 claims the deal reflects a breach of duty, and the board did not get enough advice on the consequences of the loan or obtain adequate security. "We have a responsibility to the people we represent, and quite frankly, all county employees should be concerned about this," said union President Cole Weston.
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BUSINESS
March 27, 2005
My mother recently passed away and as executor of her estate, I have a question about the loan agreement she and my daughter have. In April 2001, my mother agreed to sell her home to my daughter for an agreed sum per month over an agreed period of time, payable directly to my mother, not a bank. The sale of the property was arranged through a title company. Neither my mother's will nor the agreement papers for the sale of the house state what happens now to the monthly payments my daughter has been making to my mother.
NEWS
By Luke Broadwater, The Baltimore Sun | October 10, 2012
The city's spending panel approved an $18 million loan agreement on Wednesday to turn hundreds of vacant houses and lots in North and East Baltimore into new and rehabbed homes. Mayor Stephanie Rawlings-Blake said the development will breathe new life into the neighborhoods of Barclay, Midway and Old Goucher "after years of neglect. " City housing officials chose Telesis Corp. in 2006 to build about 325 rental units and owner-occupied homes in neighborhoods between Charles Village and Station North.
BUSINESS
By a Sun Staff Writer | May 10, 1995
Integrated Health Services Inc. of Owings Mills has obtained a $500 million revolving credit and term loan agreement that will help the rapidly growing company make more acquisitions.The agreement announced yesterday is with Citicorp USA Inc., which will serve as administrative agent, and 16 other lenders. They include NationsBank and Bank of America, serving as managing agents, and Bank of Nova Scotia and the Toronto-Dominion Bank as co-agents. Signet Bank/Maryland and Wells Fargo Bank are among the other lenders.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | October 30, 1992
The Slaysman Co., an East Baltimore machine shop, is planning to close in the next two weeks after 107 years of operation, the victim of a poor economy and the enforcement of a loan agreement.Walter O. Doeller III, the company's treasurer and general manager, said the company would close after it completes its remaining orders.Mr. Doeller said the company's bank, which he declined to identify, called its loan after the company's net worth fell below levels required under the terms of a loan agreement, putting Slaysman in technical default.
BUSINESS
December 31, 2000
As home equity loans have gained popularity among Americans, the National Home Equity Mortgage Association has offered a number of guidelines for borrowers to follow. They include: Borrow within your income and budget: A home equity loan is a major financial undertaking. Borrow for necessities or to take advantage of lower interest rates: NHEMA does not recommend taking a home equity loan to finance a luxury item or trip. Don't refinance too frequently: Refinancing a home loan can mean additional closing costs and fees.
NEWS
By Daniel P. Clemens Jr. and Daniel P. Clemens Jr.,Staff writer | October 28, 1990
SYKESVILLE - Plans for a restaurant in the historic train depot were back on track Wednesday after a snag was resolved on terms of a state loan earmarked for building renovations.At a meeting with town officials late Thursday, the businessmen behind the restaurant project, Charles Cullum and Jack Saum, agreed to a personal guaranty in case of default on the $180,000 loan the town received from the Maryland Department of Housing and Community Development.In July, the developers had agreed that their corporation, Cullum Enterprises Inc., would be responsible for the loan in the event of a default.
NEWS
BY A SUN STAFF WRITER | July 19, 2002
State investigators have ended their inquiry into a $10,000 loan that state Sen. Clarence M. Mitchell IV received five years ago in an agreement with three Baltimore businessmen who have issues before the General Assembly. State prosecutor Stephen Montanarelli said that Mitchell and his attorney, Arthur M. Frank, met with state investigators Wednesday. After Mitchell answered questions about the loan, investigators found there was "no provable criminal conduct," Montanarelli said. Mitchell accepted a $10,000 loan from bus company owner Joe Louis Gladney in 1997, when Mitchell was a state delegate.
NEWS
By Ivan Penn and Ivan Penn,SUN STAFF | April 17, 2002
State Sen. Clarence M. Mitchell IV agreed yesterday to accept a $21,250 court judgment against him, acknowledging in writing that he has not repaid a loan from a 1997 deal that has been the subject of ethics probes. Although he admitted the debt in District Court, Mitchell, who did not appear in person, might have difficulty repaying the money because he owes tens of thousands of dollars in other bills, records show. That could leave the burden on the co-signer of the loan, Robert M. Campbell, a Baltimore bail bondsman who says he fears the senator will not repay any of the money because Mitchell won't return his phone calls.
HEALTH
By Julie Scharper, The Baltimore Sun | January 24, 2011
The organizers of the Baltimore Grand Prix received an unprecedented $500,000 loan from the state's economic development agency late last month, just as the group was required to make a $500,000 bond payment to the state's stadium authority. Jay Davidson, president of Baltimore Racing Development, called the timing of the loan and the bond payment a "coincidence. " He said his group could have made the bond payment without help from the Maryland Economic Development Corp. "We have millions of dollars in ticket revenue right now," Davidson said.
BUSINESS
March 27, 2005
My mother recently passed away and as executor of her estate, I have a question about the loan agreement she and my daughter have. In April 2001, my mother agreed to sell her home to my daughter for an agreed sum per month over an agreed period of time, payable directly to my mother, not a bank. The sale of the property was arranged through a title company. Neither my mother's will nor the agreement papers for the sale of the house state what happens now to the monthly payments my daughter has been making to my mother.
BUSINESS
By Laura Vozzella and Laura Vozzella,SUN STAFF | December 19, 2002
A prominent developer owes the city $1.5 million under terms of a loan agreement, but the city is letting him pay about a third of that, and is forfeiting a share of potential profits in the successful Promenade at Inner Harbor East apartment complex. John Paterakis of H&S Properties Development Corp. built the 113-unit apartment building, starting in 1995, with the help of a $1.49 million no-interest, 25-year loan. The loan is federal money administered by the city's Department of Housing and Community Development.
NEWS
BY A SUN STAFF WRITER | July 19, 2002
State investigators have ended their inquiry into a $10,000 loan that state Sen. Clarence M. Mitchell IV received five years ago in an agreement with three Baltimore businessmen who have issues before the General Assembly. State prosecutor Stephen Montanarelli said that Mitchell and his attorney, Arthur M. Frank, met with state investigators Wednesday. After Mitchell answered questions about the loan, investigators found there was "no provable criminal conduct," Montanarelli said. Mitchell accepted a $10,000 loan from bus company owner Joe Louis Gladney in 1997, when Mitchell was a state delegate.
NEWS
By Ivan Penn and Ivan Penn,SUN STAFF | April 17, 2002
State Sen. Clarence M. Mitchell IV agreed yesterday to accept a $21,250 court judgment against him, acknowledging in writing that he has not repaid a loan from a 1997 deal that has been the subject of ethics probes. Although he admitted the debt in District Court, Mitchell, who did not appear in person, might have difficulty repaying the money because he owes tens of thousands of dollars in other bills, records show. That could leave the burden on the co-signer of the loan, Robert M. Campbell, a Baltimore bail bondsman who says he fears the senator will not repay any of the money because Mitchell won't return his phone calls.
NEWS
By Ivan Penn and Ivan Penn,SUN STAFF | March 30, 2002
State investigators and ethics officials are continuing inquiries into a $10,000 loan that state Sen. Clarence M. Mitchell IV received five years ago in an agreement with three Baltimore businessmen who have issues before the General Assembly. The state prosecutor's office has questioned at least two of the three businessmen who arranged the loan for Mitchell, sources close to the investigation said yesterday. And the state Ethics Commission, which met last week, is reviewing the loan agreement.
NEWS
By Ivan Penn and Ivan Penn,SUN STAFF | March 30, 2002
State investigators and ethics officials are continuing inquiries into a $10,000 loan that state Sen. Clarence M. Mitchell IV received five years ago in an agreement with three Baltimore businessmen who have issues before the General Assembly. The state prosecutor's office has questioned at least two of the three businessmen who arranged the loan for Mitchell, sources close to the investigation said yesterday. And the state Ethics Commission, which met last week, is reviewing the loan agreement.
NEWS
By Alison Knezevich, The Baltimore Sun | February 6, 2013
A Baltimore County police union is suing the county retirement system's board of trustees over a $25 million loan the county took from the pension fund to update recycling facilities in Cockeysville. In a lawsuit filed last week in Circuit Court, the Baltimore County Fraternal Order of Police Lodge No. 4 claims the deal reflects a breach of duty, and the board did not get enough advice on the consequences of the loan or obtain adequate security. "We have a responsibility to the people we represent, and quite frankly, all county employees should be concerned about this," said union President Cole Weston.
NEWS
By Ivan Penn and Ivan Penn,SUN STAFF | February 13, 2002
The General Assembly's ethics committee has begun an inquiry into a $10,000 loan that Sen. Clarence M. Mitchell IV received in a quiet agreement five years ago with two Baltimore bail bondsmen and a city transportation company owner, sources said yesterday. Word of the committee's action came as independent ethics experts criticized the undisclosed loan as a conflict of interest for the senator because the three men own businesses that are routinely the subject of legislation before the Assembly.
BUSINESS
December 31, 2000
As home equity loans have gained popularity among Americans, the National Home Equity Mortgage Association has offered a number of guidelines for borrowers to follow. They include: Borrow within your income and budget: A home equity loan is a major financial undertaking. Borrow for necessities or to take advantage of lower interest rates: NHEMA does not recommend taking a home equity loan to finance a luxury item or trip. Don't refinance too frequently: Refinancing a home loan can mean additional closing costs and fees.
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