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Bellflower council authorizes purchase of promissory note tied to 9849 Flower Street
Summary
Bellflower City Council on Sept. 9 authorized the city manager to execute an assignment and assumption agreement to acquire a deed of trust and the associated promissory note affecting real property at 9849 Flower Street.
Bellflower City Council on Sept. 9 authorized the city manager to execute an assignment and assumption agreement to acquire a deed of trust and the associated promissory note affecting real property at 9849 Flower Street.
City staff described the transaction as a purchase of the note only, not an immediate acquisition of the underlying property. City staff said the note is for about $743,750 and the property is a two‑story, 5,532‑square‑foot building on a 6,301‑square‑foot parcel with four tenants, including the…
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