FINANCIAL_SERVICESAPPROVED

City of Fairmont Awards Financial Services Contract to Deerwood Bank (July 2026)

The City of Fairmont will approve a Consent to Leasehold Mortgage recognizing Deerwood Bank as lender on a construction mortgage of up to $400,000.00 secured by Advantage Aviation’s ground lease at the municipal airport. The consent grants the bank leasehold mortgagee rights under the city’s ground lease.

Status
APPROVED
Document date
July 27, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Deerwood Bank
Agency
City of Fairmont · MN

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Maximum indebtedness secured $400,000.00
Contract type
FINANCIAL_SERVICES
Contract term
Dated July 17, 2026; term as defined in underlying loan documents
Renewal
Construction mortgage dated July 17, 2026 secures Advantage Aviation’s leasehold; city consent establishes ongoing mortgagee rights for the life of the loan.
Document type
AgendaPacket
Source document
City of Fairmont Agenda Packet 2026-07-27

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Fairmont?

Deerwood Bank was awarded this financial services contract by City of Fairmont, as recorded on July 27, 2026. The contract value is Maximum indebtedness secured $400,000.00.

How much is the Deerwood Bank contract with City of Fairmont worth?

The Deerwood Bank contract with City of Fairmont is valued at Maximum indebtedness secured $400,000.00, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Fairmont Agenda Packet 2026-07-27 (AgendaPacket), dated July 27, 2026 from City of Fairmont. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Deerwood Bank hold?

Deerwood Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is City of Fairmont currently buying?

Explore City of Fairmont's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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