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Home My WebLink About550 Jefferson StreetDocument Number MORTGAGE INSTRUMENT Document Title CITY OF OSHKOSH RENTAL REHABILITATION PROGRAM DEFERRED PAYMENT LOAN 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 THREE THOUSAND FIVE HUNDRED and No/I00 Dollars ($3,500.00) for the rehabilitation, preservation and enhancemant of rental' residential real property which is commonly known as 550 Jefferson Street, Oshkosh, Wisconsin and legally described as being in Winnebago County, State of Wisconsin: 1277830 REGISTER'S OFFICE WINNEBAGO COUNTY, WI RECORDED ON 09/17/2003 09:31AM SUSAN WINNINGHOFF REGISTER OF DEEDS ~CORDIN8 FE~ 13. ~ TRANSFER FEE $ OF P~I~S 2 Recordin~ Area Name and Return Address City Attorney's Office Oshkosh~ WI 5490271130 __904-0207-0000.__ Parcel Identification No. Lot 6 and the N 2 fi. of Lot 7, Block D, Merritt's Second Addn.; also Lot 5 and the N 2 ft. of Lot 4, Block I01, per Leach's Map of 1894, all in the 4th Ward, City of Oshkosh. This is not homestead property. This is not a purchase money mortgage. 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: Mortgage to F & M Bank-Winnebago County in the amount of $6,000.00 dated November 20, 1998 and recorded in Register of Deeds Office on November 24, 1998 as Doc. No. 1065570. 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, ifI pay to mortgage lender the full amount of the deferred payment loan secured by this mortgage and conform with the terms of the Borrow_er'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 agree to keep the mortgaged propmty 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 attomey'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 bo 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 ~vhole amount of the defmred payment loan will, at the option of the mortgage lender, become due and payable without notice. Under this circumstance, I hereby waive my rig~ht 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. Unless otherwise required by law, the invalidity or unenforceability of any provision of this mortgage will not affect the validity or enforceability of any other provision. All the terms, conditions and covenants of this mortgage will be binding on my heirs, legal representatives, successors or any other individual to whom an interest in the mortgaged property or this mortgage is assigned. I shall not transfer, sell or convey any legal or equ/table 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" 117 THERE IS MORE THAN ONE SIGNATURE APPEARING BELOW) Dated this /e>~ day of ,._~_~m~C, oTt?O ~ , MIe~IAE~L il BO~t~ (SEAL) _(SEAL) AUTHENTICATION Signature(s) Authenticated this day of 20 ACKNOWLEDGEMENT STATE OF WISCONSIN ) WINNEBAGO COUNTY ) PRINTED NAME: TITLE: MEMBER STATE BAR OF WISCONSIN (If not, authorized by Sec 706.06, Wis Stats) THIS INSTRUMENT WAS DRAFTED BY: Lynn Lorenson, Asst. City Attorney, Oshkosh, WI (Signatures may be authenticated or acknowledged. Both are not necessary.) Personally came before me this /ck. day of 20 0~.~ , the above named Michael J. Bober to me known to be the person(s) who executed the foregoing instrument and acknowledge the same. Notary Public, /,k'~ 3 r~ t~9~ D County My Commission (is permanent) (expires)