Issue link: https://read.dmtmag.com/i/594075
NOVEMBER 2015 19 THE JOURNAL EASY TO USE • NO MESS • PERMANENT • High-tech, super-aggressive adhesive • User-friendly product with easy-to-remove liner • Permanent and easy way to mend holes, cuts, and tears • Manufactured Home/RV repairs, vapor barriers, tarp repairs, etc. PREMIUM BOTTOMBOARD TAPES SIZES PART NO. 2" - 18" ROLLS 2" X 180' FM-200T 2" X 108' FM-2108T *4" X 180' *FM-400T 4" X 108' FM-4108T *6" X 180' *FM-600T 6" X 108' FM-6108T 8" X 180' FM-800T 18" X 180' FM-1800 28" ROLLS *28" X 25' *FM-2825 28" X 50' FM-2850 28" X 100' FM-2800 ALSO AVAILABLE! DO-IT-YOURSELF KITS FM-2845 ZIPPERED ACCESS 18" X 18" TRAP-FLAP FM-1818 4" X 72" ZIP-STRIP FM-0472 6" X 72" ZIP-STRIP FM-0672 CUSTOM SIZES AVAILABLE! *DENOTES MOST POPULAR SIZES Look for the logo on the core of every roll of tape! THANK YOU FOR STICKING WITH FLEX-MEND! Visit FLEXMEND.COM for your nearest distributor, or for distribution opportunities, please call: 1.800.462.1775 F F No. 9 on Get It Quick Page Darryl Searer, chairman and president of the RV/MH Hall of Fame (Hall), announced an- other major milestone in the Hall's debt elimi- nation campaign. Searer said, "Today is a red letter day for the Hall of Fame. As of last week, the $600,000 note to pay off the David Woodworth antique RV collection is paid in full. The twelve-year loan was paid off in less than two and half years. When Searer volunteered to lead the Hall three and half years ago, among the Hall's debt was the unfulfilled obligation to pay Woodworth $1,165,000 million for the purchase of his col- lection. One of Searer's first accomplishments, along with the support of the board of directors, was to renegotiate the Woodward debt down to a $600,000 cash settlement which saved the Hall $565,000. The Hall borrowed the amount from 1 st Source Bank in Elkhart and paid Woodworth. In a separate development, Searer also an- nounced that he has renegotiated the Hall's mortgage loan of approximately $1.8 million with 1 st Source Bank from a 4.5 percent inter- est rate down to 3.5 percent which will save the Hall over $50,000 over the term of the loan. While Searer is thrilled with Hall's progress to date, he isn't going to be satisfied until the Hall is completely debt free. He said, "There's light at the end of the tunnel. Our debt elim- ination challenge campaign, a competition be- tween the RV and manufactured housing (MH) industries to pay off the mortgage in five years is getting in to full swing." Each industry is being challenged to raise $1 million each. So far, the MH industry that had a head start has raised over $615,000 in gifts and pledges, and the RV industry has raised over $100,000 in gifts and pledges. Searer said, "We probably would not be here today without the generosity of so many compa- nies and individuals who have stepped up to help preserve this important symbol that not only celebrates the heritage of these two indus- tries, but is also an important tourist attraction and event center in the Elkhart area, benefiting the entire community." "For us to meet our goal of eliminating the Hall's debt we still need people to open their hearts and pocketbooks and contribute to the Hall." For those who would like to make a contri- bution toward the Hall's debt elimination chal- lenge, the Hall has made it easy to contribute. Contributions can be made through the Hall's secure web site, www.rvmhhalloffame.org or by mail or phone. If paying by check or money order, make payable to the RV/MH Hall of Fame. Debt Elimination Challenge RV/MH Hall of Fame 21565 Executive Parkway Elkhart Indiana 46514 800-378-8694 574-293-2344 RV/MH Hall of Fame Reaches New Milestone in Debt Reduction Wells Fargo Provides Over $400 Million in Financing for MHCs Tony Petosa and Nick Bertino of Wells Fargo's Multifamily Cap- ital office in Carlsbad, California, have provided over $400 million in financing through 46 separate transactions for manufactured home communities located throughout the country. The loans were all originated during 2015 through Freddie Mac, Fannie Mae, conduit, and balance sheet lending programs. "The combination of a low interest rate environment and more lenders, such as Freddie Mac, entering the market," said Bertino, "has resulted in extremely attractive financing options for borrowers in the MHC sector." "Whether an acquisition or refinance transaction, the most im- portant thing for a borrower is certainty of execution," added Petosa. "Through our long track record of lending on manufactured home communities, we have demonstrated time and time again that we are a lender that our borrowers can depend on." For more information or for a copy of their "Manufactured Home Community Financing Handbook," please contact Nick Bertino at (760)438-2692 or nick.bertino@wellsfargo.com; or visit www.wellsfargo. com/mhc. www.journalmfdhousing.com