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Home My WebLink About1132 Oak Street A MORTGAGE $ Tx:4456097 DOC# 1823418 Document Number Document Title NATALIE STROHMEYER REGISTER OF DEEDS CITY OF OSHKOSH WINNEBAGO COUNTY,WI RESIDENTIAL REHABILITATION PROGRAM RECORDED ON: DEFERRED PAYMENT LOAN 07/27/2020 10:16 AM RECORDING FEE: 30.00 PAGES: 4 I hereby mortgage, convey and warrant to the CITY OF OSHKOSH, a Municipal Corporation located in Winnebago County, Wisconsin (mortgage lender), in consideration of my receiving a deferred payment loan in the amount of ELEVEN THOUSAND FIVE HUNDRED SEVENTY FIVE DOLLARS and NO/100 ($11,575.00) for the rehabilitation, preservation and enhancement of owner occupied residential real property Recording Area which is commonly known as 1132 Oak Street, Oshkosh, and legally Name and Return Address described as being in Winnebago County, State of Wisconsin: City Attorney's Office SEE ATTACHED LEGAL DESCRIPTION Oshkosh,WI 54903-110 (harri 911-1011-0000 This is homestead property. This is not a purchase money mortgage. Parcel Identification No. I certify that I have title to this property and that the title is free and clear of all encumbrances,excepting only restrictions and easements of record, municipal and the zoning ordinances, current taxes and assessments not yet due and any encumbrance noted below: NONE I will keep the mortgaged property free from any lien or encumbrance superior to the lien of this mortgage, except for those noted above. I agree to this mortgage on a condition that, if I pay to mortgage lender the full amount of the deferred payment loan secured by this mortgage and conform with the terms of the Borrower's Certification and this mortgage, then this mortgage will cease and the note(see Borrower's Certification)will be void. I will pay before they become delinquent all taxes and assessments which may be levied or assessed against this mortgage,the note secured by this mortgage and the property described above. I will deliver to mortgage lender,upon demand, a receipt showing due payment of any tax or assessment. I will keep the mortgaged property insured for fire and extended coverage perils for at least the full and fair market value of the property and pay the premiums thereon when due. I will make sure the City of Oshkosh is listed as a mortgage holder on the insurance policy. I agree to keep the mortgaged property in good condition and repair. I will not do anything to diminish or impair the value of the mortgaged property. Under any foreclosure proceeding, all foreclosure expenses, including reasonable attorney's fees,will also be added to the amount of the deferred payment loan and become due as incurred,and in case of judgement,will be included therein. If I fail to act according to the terms and conditions of this mortgage or the Borrower's Certification for a period of more than fifteen (15) days, then the whole amount of the deferred payment loan will, at the option of the mortgage lender, become due and payable without notice. Under this circumstance, I hereby waive my right to notice. I understand that the mortgage lender is not responsible for the work performed by any contractor on my property, whether paid for out of deferred payment loan funds or otherwise. I shall not transfer, sell or convey any legal or equitable interest in the property (by deed, land contract, option, long- term lease or in any other way)without the prior written consent of the mortgage lender, unless either the indebtedness secured by this mortgage is first paid in full or the interest conveyed is a mortgage or other security interest in the property,subordinate to the lien of this mortgage. The entire indebtedness under the note secured by this mortgage shall become due and payable in full,at the option of the mortgage lender without notice,upon any transfer,sale or conveyance made in violation of this paragraph. (PLEASE NOTE THE SINGULAR "I" ALSO INCLUDES THE PLURAL "WE" IF THERE IS MORE THAN ONE SIGNATURE APPEARING BELOW) Dated this day ofPAPT-L.‘i , 2020 (SEAL) RICK G. GOSZ (SEAL) AUTHENTICATION ACKNOWLEDGEMENT . 1 Signature(s) STATE OF LSCOC W' ) i fivI ar COUNTY ) Authenticated this day of 20 Personally came before me this 7;{day of ALM- 2020 PRINTED NAME: the above named i( ( • �20S2_ TITLE:MEMBER STATE BAR OF (If not, to own to 1- e person(s)who executed the foregoing authorized by ) in• • ent and 1 owledge the same. (� Publi ,State of (i iSUN\SIV'- LA ommis on(is permanent)(expires) v,• 20al (Signatures may be authenticated or acknowledged.Both are not necessary.) LEGAL DESCRIPTION: That part of the North East 1/4 of the SOUTH EAST 1/4 of Section Thirteen (13), Township Eighteen (18) North, of Range Sixteen (16) East, in the Eleventh Ward, City of Oshkosh, Winnebago County, Wisconsin, a , described as follows, viz:- Commencing on the East line of East Oak Street, as now laid out at point Ninety (90) feet South of the South line of East New York Avenue; thence East parallel with the South line of East New York Avenue, to a point that is One Hundred Thirty-five (135) feet West of the West line of Hazel Street; thence South parallel with the West line of Hazel Street, Seventy-five (75) feet; thence West parallel with the South line of East New York Avenue, to the East line of East Oak Street; thence North along the East line of East Oak Street, Seventy-five (75) feet, to the place of beginning. RE: 1132 OAK STREET, OSHKOSH,WI DEFERRED PAYMENT PROMISSORY NOTE AND BORROWERS CERTIFICATIONS As an applicant for a loan to be financed by the City of Oshkosh Housing Improvement Program, I hereby acknowledge and agree as follows: 1) I authorize the City of Oshkosh Code Enforcement Inspectors to inspect the work financed by this loan. 2) None of the proceeds of this loan will be used to finance any improvements undertaken prior to the date of application approval. 3) I authorize the City of Oshkosh to make any all documents pertaining to this loan available to the Department of Housing and Urban Development,the City of Oshkosh or their agents. 4) I certify that I have record title to or an equitable interest in the property to be improved and occupy it on a permanent year-round basis. 5) I am aware that any false statement or misrepresentation made in connection with this loan may subject me to criminal and civil penalties under United States and Wisconsin law. 6) On or before the sale or transfer of property which is secured by a mortgage of even date herewith,for value received,the undersigned, (their)heirs,executors, administrators, and successors, or if this property should cease to be occupied by the undersigned,jointly and severally promise to pay to the order of the City of Oshkosh, Winnebago County, Wisconsin,at the office of the Department of Community Development, City Hall, 215 Church Avenue, Oshkosh, Wisconsin,the principal sum of ELEVEN THOUSAND FIVE HUNDRED SEVENTY FIVE DOLLARS and NO/100($11,575.00). 7) I agree to provide my household income information to staff of the Department of Community Development upon request so long as the mortgage securing the City's Rehabilitation Loan is in effect. If my household income is ever higher than 80 percent of the HUD median income guidelines for a given year, I further agree to negotiate a loan repayment schedule with the staff of the Department of Community Development. This payment shall be at a level such that my total housing related payments do not exceed 30 percent of my gross household income. I understand that when I reach the age of 62,this provision does not apply. 8) I will notify the City of Oshkosh Department of Community Development,215 Church Avenue,P.O. Box 1130,Oshkosh,Wisconsin 54903-1130 UPON THE TRANSFER OF THE PROPERTY OR WHEN IT CEASES TO BE MY PRINCIPAL PLACE OF RESIDENCE. (PLEASE NOTE THE SINGULAR I ALSO INCLUDES THE PLURAL"WE" IF THERE IS MORE THAN ONE SIGNATURE APPEARING BELOW) This note is secured by mortgage on real estate of even date herewith. Dated this day of9—A-A"..r\-k, , 2020. RICK G. GOSZ