HomeMy WebLinkAboutRelease of Duplicate Declaration 619 Merritt Avenue Iy101-{III1I1IIIHIU I
8753026
RELEASE OF Tx:4563139
DUPLICATE DECLARATION DOC# 1
864397
NATALIE STROHMEYER
Document Number Document Title
R(_G 1arrITII REGISTER OF DEEDS
WINNEBAGO COUNTY, WI
OCT 19 2021 RECORDED ON:
09/30/2021 11:01 AM
CITYRECORDING FEE: 30.00
CLERK'S OFFICE
PAGES: 5
The CITY OF OSHKOSH,215 Church Avenue, Oshkosh,
Wisconsin 54901, a Wisconsin municipal corporation(CITY),
herein takes the following action regarding a duplicate document recorded
that relates to its interests in certain real property as identified below Recording Area
Name and Return Address 9F
City Attorney's Office Cr
1. The City has an interest in certain Property more particularly PO sox 1130 Amkt
described as follows: Oshkosh,WI 54903-1130
Lot Two(2)of Certified Survey Map No. 7579, filed with 90404350200
the Winnebago County Register of Deeds on January 16,2021 Parcel Identification Number (PIN)
as Document Number 1808014, located in the Fourth Ward,
Section 24,Township 18 North,Range 16 East, City of
Oshkosh, Winnebago County, Wisconsin.
2. The City's interest arises pursuant to a Declaration of Deed Restriction document dated June 17,
2021, and recorded with the Winnebago County Register of Deeds on June 23, 2021, as Document
Number 1855327,which was recorded by Cabrini School Lofts, LLC, for the benefit of the City of
Oshkosh.
3. After the Declaration of Deed Restriction document dated June 17,2021 was recorded as
Document Number 1855327,that same June 17, 2021 Declaration document was inadvertently
recorded a second time, specifically on August 12, 2021 as Document Number 1859953. A copy of
the duplicate recorded copy of the Declaration document is attached as Exhibit A. This inadvertent
recording may give the incorrect impression that there are two separate sets of Deed restrictions
when, in fact,there is only one.
4. The City of Oshkosh herein withdraws and releases the inadvertently recorded Declaration of Deed
Restrictions document which was recorded on August 12, 2021 as Document Number 1859953,
and is attached as Exhibit A. This withdrawal and release is intended to only correct a recording
error and does not release the City's interests in the Declaration recorded as Document Number
1855327.
5. This Release does not affect any other easement, agreement, property right, obligation, or
encumbrance that is not explicitly identified in this document as subject to withdrawal and release.
Specifically,but without limitation,this withdrawal and release does not in any way affect or waive
rights and responsibilities of the Deed Restrictions dated June 17, 2021, and recorded as Document
Number 1855327.
[SIGNATURE PAGE FOLLOWS]
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September 29, 2021 C
r
CITY OF OSHKOSH `' �T,,
By: ,...--'1'74" 1��'---t1 By:
Mark A. Rohloff, City Manager Pa
pciA Seta J-j oeele( , De f 1
STATE OF WISCONSIN )
)ss.
WINNEBAGO COUNTY )
Personally came before me this -2i0 day of `J 617'rE Apefi- , 2021, the above named Mark A. Rohloff and
A. P-Eirrretaf the City of Oshkosh,to me known to be such persons who executed the foregoing'in§tt•urgent and
0 2pj acknowledged the same, for the purpose herein contained.OASO
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1 ��l) J_�Rl1S�'� t� t.� �"
NotaryPublic State of Wisconsin Sr: P
My Commission axpires: 15 yetMGleni C. 0 , � :o� :
Drafted by:
David J. Praska,Deputy City Attorney
Oshkosh,Wisconsin
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September 29, 2021
UNOFFICIAL COPY • _ III11I111I"1iU
8737616
Tx:4551024
DECLARATION OF DEED RESTRICT TON
DOC# 1859953
Document Number Document Title NATALIE STROHMEYER
REGISTER OF DEEDS
WINNEBAGO COUNTY, WI
RECORbED ON:
1. PROPERTY OWNER. Cabrini School Lofts,LLC as the fee 08/12/2021,10:04 AM
owner of the Property described below,hereby files the Deed RECORDING'FEE: 30.00
Restrictions to be attached to the Property as described in this PAGES: 3
document.
Recording Return
g ���,�`�
• Name mc and Retu Address
2. PROPERTY. The Property subject to these Deed Restrictions is City Attorney Office
commonly known as 619 Merritt Avenue,Oshkosh,Wisconsin P 0 Box 1130
.54901,and is more particularly described as follows: Oshkosh WI 54903-1I30
•
90404350200
Lot Two(2)of Certified Survey Map No. 7579,filed with
the Winnebago County Register of Deeds on January 16,2021
Parcel Identification Number (PIN)
as Document Number 1808014,located in the Fourth Ward,
Section 24,Township 18 North,Range 16 East,City of
Oshkosh,Winnebago County,Wisconsin.
3. PURPOSE. Owner is redeveloping the Property previously operated as an elementary school and
transforming it into housing. Among the funding sources for this redevelopment project, Owner
will receive fimding from the City of Oshkosh. The City's funding is part of the United States
Department of Housing•and Urban Development(HUD)Community Development Block Grant
(CDBG)program for rehabilitation of residential rental units. The purpose of these covenants are •
to ensure compliance with HUD's CDBG program and City requirements.
4. COVENANT. The CDBG Rental Rehab Program and City requirements described in this
Declaration attach to and run with the property and will be binding upon any future purchaser
throughout the term required by the City and by HUD's CDGB requirements.
5. ELIGIBILITY REQUIREMENTS. The Property will comply with HUD's CDBG program •
requirements,including a minimum of fifty-one percent(51%)of the rental units will be initially
occupied by Low and Moderate Income tenants,as well as the project meeting at least one of three
of the programs'national objectives. The program's national objectives are: a)benefitting low-and
moderate-income persons;b)aiding in the prevention or elimination of slums or blight;and,c)
meeting the need having a particular urgency that the City is unable to finance on its own.
6. PERIOD OF AFFORDABILITY. Notwithstanding the Owner's compliance with HUD's CDBG
program requirements identified in paragraph number 5,above,the Owner will ensure that ten(10)
units within this project must comply with HUD's affordability standards for a period that is the
later of(a)payment in full of the Deferred Promissory Note,or(b)fifteen(15)years (the
"Affordability Period"). The Affordability Period starts when the occupancy permit is issued by
the City and the first unit assisted under this Program is rented out and inhabited by tenants.
. I
7. RENTS. The project shall comply with City and HUD's CDBG program rent requirements while
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June 2, 2021
UNOFFICIAL COPY
these covenants are in effect For project lease up,the Fair Market Rent as defined by the HUD Section
8 program must be used in calculating the rent in.100%of the units.
a. Maximum rents to be charged in the initial leasing of at least 51%of the project units,as well as
the affordability term for seventeen(17) of units will be determined by the Department of
Housing and Urban Development and the City of Oshkosh.
b. High Home Rents:Lesser of published Section 8 Fair Market Rents(FMR)or the published 60%
rent limit. 80%(27 of the 33 units) of the total units subject to the Affordability Period must rent
at this level.
c. Low Home Rents: Lesser of the FMR or the published 50%rent limit.20%(7 of the 33 units)
of the total units subject to the Affordability Period must rent at this level.
d. The cost of any tenant paid utility must be subtracted to determine maximum rents allowed in
either category.Deductions for tenant paid utilities is based on information provided by HUD,
although the City traditionally obtains calculations obtained from the Oshkosh/Winnebago
County Housing Authority.This amount must be recalculated with each lease renewal .
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8. OCCUPANCY. The occupancy requirements while these covenants are in effect are as follows:
a. No less than 20%of the CDBG assisted units must be leased to households whose income do not
exceed 50%of the Area Median Income.The balance must benefit households at or below 60%
of the Area Median Income.
b. At the conclusion of the Rental Agreement between the property owner and the initial tenant,
subsequent occupants must be at or below 60%of the Area Median Income until the end of the
Period of Affordability.
c. Each year,throughout the Period of Affordability,the property owner will obtain income
information from each tenant and submit it to the City of Oshkosh,Department of Community
Development.
9. OTHER REQUIREMENTS. All units shall meet the standards of the City's Minimum Housing Code,
as well all other local,state,and federal housing standards. The City shall have the right,but not the
obligation,to perform annual inspections. The preceding sentence regarding annual inspections shall
not prevent the City from performing inspections related to actual or potential code violations. In cases
where the City does perform the aforementioned inspections,the Owner shall facilitate the City's
inspection after reasonably notice provided to the Owner.
10.ENFORCEMENT. In the event the Owner violates any of the terms of these covenants beyond the cure
period provided below,the City of Oshkosh reserves the right to take such action to cure such violation.
In the event Owner shall be in default in the performance or observance of any of the terms of this
Owner,the Cityshall provide Owner written notice of the
orperformed by
Declaration to be observed
n
same,and Owner shall have a period of thirty(30) days following receipt of such written notice to cure
any default contained in said notice.In the event of a Default,the Investor Member of the Borrower
shall have the right,but not the obligation,to cure any default by the Borrower.
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June 2, 2021
UNOFFICIAL COPY
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11.TERM. These covenants shall run to and be enforceable by the City of Oshkosh until the expiration of
the Affordability Period. These covenants shall run with the land and be binding upon and enforceable
against Owner,their heirs,successors,agents,and assigns. Any changes or modifications to these deed
restrictions must be reviewed and approved in writing by the City of Oshkosh and filed with the
Winnebago County Register of Deeds as an amendment to this Declaration of Deed Restriction. Upon
expiration of'the Affordability Period,the City of Oshkosh shall terminate this Declaration of Deed
Restriction.
Dated this 17' day of ,,, 2021.
CABRINI SCHOOL LOFTS,LLC
By:
QAMAA3 L. St, i 44 'Ire S 104..yi
Print Name Title
STATE OF WISCONSIN )
)ss.
WINNEBAGO COUNTY )
Personally carp before me this I t' day of 3UN , 2021, the above named
V7(_ LC l4u t.32,to me known to be such person who executed the foregoing instrument and
acknowledged the same,for the purpose herein contained.
Not bh , e o isconsin
My C 'ssion expires:_ 2./Z5'IZ ""
Aultpirrlukt
i.i
This instrument drafted by: •
Attorney David 3.Praska ' w ,� *If
Oshkosh,WI 54903-1130 .= i /
LiPeeiej
June 2, 2021