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Home My WebLink AboutDay by Day Shelter 0 Broad St and 400 Ceape Ave1_/ 1/ lk Document Number NOTE AND MORTGAGE Document Title MORTGAGOR: Day by Day Warming Shelter, Inc. 449 High Ave. Oshkosh, WI 54901 MORTGAGEE: City of Oshkosh 215 Church Avenue PO Box 1130 Oshkosh, WI 54903-1130 )NSIDERATION: To assist with the development of a homeless shelter project, City of Oshkosh (City) will provide Day by Day Warming Shelter Inc. (Day by Day) the time of Day by Day's purchase of the Property, a lump sum loan of One Hundred Fty Thousand and N01100 Dollars ($150,000.00) in support of the City -reviewed d approved development project. The City's funding is part of the United States apartment of Housing and Urban Development (HUD) Community Development ock Grant (CDBG) program for the acquisition of a public facility. This Note and ortgage include certain covenants included in a grant agreement executed at the time this Note and Mortgage and attached as Exhibit "A" hereto and incorporated herein reference, to ensure compliance with HUD's CDBG program. 8821737 Tx:4616162 DOC# 1884718 NATALIE STROHMEYER REGISTER OF DEEDS WINNEBAGO COUNTY, WI RECORDED ON: 06/16/2022 09:51 AM RECORDING FEE. 30.00 RAGES: 4 Recording Area f lam` i � u Name and Return Address �/ n �Z7 City Attorney's Office 0 l� PO Box 1130 Oshkosh, WI 54903-1130 Tax Parcel Numbers: 90800710200 90800280000 RECEIVED J u N 2 2 2022 PROMISE TO PAY: The City will provide a loan in the sum of One Hundred Fifty Thous I and'N6fMn;�IQFF ($150,000.00) to Day by Day to aid Day by Day to purchase the Property for development. 19, 2022 1. Re -payment will be deferred and, if conditions are met, forgiven. Day by Day will not be required to make payments on this Note and Mortgage except as otherwise described in this document. 2. Day by Day shall construct and operate a homeless shelter at the location which shall be open to those in need on a year round basis and which shall be substantially consistent with the specific implementation plan approved by the Council on December 14, 2021 by Resolution 21-617. 3. Day by Day shall commence construction on or before December 31, 2022 and shall complete construction to satisfy conditions for issuance of an occupancy permit on or before December 31, 2023. 4. After completion of the project, Day by Day shall continuously operate a year round homeless facility in compliance with the proposal presented and approved specific implementation plan. 5. So long as Day by Day shall continue to operate a year round homeless facility as specified herein, the City will proportionately forgive this indebtedness over a ten year period beginning January 31, 2023, until the mortgage lien shall be satisfied. 6. In the event that construction is not commenced on or before December 31, 2022, then this note shall not be forgiven but shall be due and payable in its entirety on that date. 7. In the event that construction is not completed and an occupancy permit is not issued on or before December 31, 2023, then this note shall not be forgiven but shall be due and payable in its entirety on that date. 8. In the event that Day by Day Warming Shelter Inc. shall fail to operate a year round homeless facility at the Property in compliance with the proposal presented and the approved specific implementation plan during the term of this note, then this note shall not be forgiven and any remaining balance shall be due and payable in its entirety immediately upon notice from the City. 6A -ICE 9. The promise to pay will be secured with a mortgage on the property identified in this document. 10. This Note and Mortgage shall not be assigned without the written permission of the City. 11. The terms of this Note and Mortgage shall apply in its entirety to the mortgagee, mortgagor, and their heirs, executors, administrators, assigns, and successors in interest. INTEREST/FEES: Interest will be accrued at a rate of ZERO percent (0%). No fees, charges, or interest will accrue unless this note and/or mortgage is in default, at which time statutory costs, fees, charges, and interest will begin to accrue 30 days after the Note becomes in default. PROPERTY: The Property subject to this agreement, which is a tract of land situated in the City of Oshkosh, Winnebago County, Wisconsin, is more specifically described as follows: Lot Two (2) according to Certified Survey Map No. 6702 filed in Volume 1 of Survey Maps, Page 6702 as Document No. 1628170, said Map being all of Lot 1 of Certified Survey Map No. 6663, now known as Court Tower Condominium, and all of Lot 2 of Certified Survey Map No. 6663, Volume 1, Page 6663, Document No. 1613184, all located in Government Lot 2, Section Twenty- four (24), Township Eighteen (18) North, Range Sixteen (16) East, City of Oshkosh, Winnebago County, Wisconsin. PIN:908-0028 The South Fifty-five (55) feet of the East Sixty (60) feet of Lot One (1) in KAERWER'S REPLAT, in the Eighth Ward, City of Oshkosh, Winnebago County, Wisconsin, per Leach's Map of 1894. PIN:908-0071-02 Property Addresses: vacant properties located at 0 Broad Street and 400 Ceape Avenue, Oshkosh, WI 54901 Tax Parcel Numbers: 0800710200 and 90800280000 MORTGAGE: The amount due pursuant to this Note is secured by a mortgage lien on the real estate described in this Agreement, made by Day by Day in favor of the City, with the benefits and burdens applicable to these parties, their heirs, executors, administrators, assigns, and successors in interest. IMPROVEMENTS: Day by Day will be developing this property for a year round homeless shelter as described in Day by Day's proposal and specific implementation plan submitted to the City of Oshkosh in connection with City of Oshkosh Resolution #21-617 adopted on December 14, 2021. The City's mortgage interest will cover the real property and all improvements, current and future. At all times the Mortgagor: 1. Will retain title to the Property and keep the title free and clear of all encumbrances, excepting only restrictions and easements of record, municipal and zoning ordinances, and current taxes not yet due. 2. Will keep the mortgaged property free from any lien or encumbrance superior to the lien of the City, except for any loans related to the initial construction of the facility and site. 3. Agrees that the loan may be prepaid, if applicable, without penalty and upon prepayment in full the note and mortgage will be satisfied. 4. Will pay all taxes and assessments which may be levied or assessed against this mortgage, the secured by this mortgage, and the Property subject to this mortgage before they become delinquent. 5. 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, and will further ensure that the City of Oshkosh is listed as a mortgage holder on the insurance policy. 2 May 19, 2022 6. Agrees to keep the mortgaged property in good condition and repair, and will not do anything to diminish or impair the value of the mortgaged property. 7. Agrees that in the event that foreclosure action is filed, then all foreclosure expenses, including reasonable attorney's fees, will be added to the amount of the loan and will become immediately due. MODIFICATIONS: Any change or modification of this agreement must be in writing and signed by all parties signing this original agreement. NOTICES: All notices must be sent or copied to all parties identified above, or to their successors in interest upon written notice. ENFORCEMENT: Enforcement of this Note and Mortgage shall be in accordance with the attached Agreement. SIGNATURE PAGES FOLLOW 3 May 19, 2022 -�s�-i�� DAY BY DAY I By: ofI re� y By X0 Z STATE OF WISCONSIN ) ss. TER, INC., Borrower/Mortgagor Board of Directors o Board-o€Directors- &tcu-fi ✓Q P iattor WINNEBAGO COUNTY ) C� W }tIcAm P6 Personally came before me this ` day of 1' ' r4 , 2022, the above named 10 �"4 60 ` � to me known to be such person who executed the foregoing insie:&nt an c grXledge �sam�, qr .�-purpose herein contained. VI Notary Public, State of W' o s My Commission expires: W''F(,V\ M 0d,6,.: STATE OF WISCONSIN ) ; - ) ss. WINNEBAGO COUNTY Personally came before me this day of rl/)a4 2022, the above named I) to me.known to be such person who executed the foregoing instrument ddged tb e same, for the purpose erein containe Pure . �, .. Notary Public, State of Wisconsin My Commission expires: CITY OF OSHKOSH, Lender/Mortgagee Mark A. Rohloff, City Manager J i Balcom, City Clerk STATE OF WISCONSIN ) ) ss. WINNEBAGO COUNTY ) Personally came before me this___a day of i/ , 2022 the above named Mark A. Rohlof apd,Jgyssi Balcom of the City of Oshkosh, to me known to be such perso s who executed the fore oing instrument and WRnpwledged fhe,same, or the purpose herein contained. Notary Pilblic, State of Wisconsin My Commission expires: '��n� APPROVED AS T FORM: AP OV D S TO FUND111f, XVAILA.BIITI'✓. L Loren i Attorney Russ Van Gompe inance Director DRAFTED BY: Lynn A. Lorenson City Attorney Oshkosh, Wisconsin 4 May 19, 2022