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Home My WebLink About501 N Main Street 12/19/2003 Q; Document Number Document Title :1.304747 REGISTER'S OFFICE WINNEBAGO COUNTY. WI RECORDED ON 04/06/2004 10:27AM SUSAN WINNINGHOFF REGISTER OF DEEDS RECORDING FEE 13.0Ø TRANSFER FEE D OF PAGES MORTGAGE INSTRUMENT CITY OF OSHKOSH 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 ONE HUNDRED EIGHTY THOUSAND Dollars and No/lOO ($180,000.00) for the rehabilitation, preservation and enhancement of renta residential real property which is commonly known as 501 NORTH MAIN STREET, Oshkosh, Wisconsin and legally described as being in Winnebago County, State of Wisconsin: Recordin Area Name and Return Address City Attorney's Office Oshkosh, WI 54902-1130 d _907-0026-0000- Parcel Identification No. Lot 1, Block 43. 7th Ward, City of Oshkosh, per Leach's Map of 1894 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 State Financial Bank, National Association, in the amount of $575,000.00 and recorded in the Register of Deeds office on February 4, 2003 as Doc. No. 1228936. Mortgage to City of Oshkosh, a municipal corporation, in the amount of$349,970.00 and recorded in Register of Deeds office on 11/26/03 as Doc. No. 1288955. 1 will keep the mortgaged property free from any lien or encumbrance superior to the lien of this mortgage, except for those I noted "Love. I agree to this mortgage on a condition that, if! pay to mortgage lender the full amount of the deferred payment loa.'} 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 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! fail to act according to the terms and conditions ofthis mortgage or the Borrower's Certification for a period of more than fifteen (15) days, then the whole amount of the deferred payment'1oan 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. 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. O-d- '" . . I shall not transfer, sell or convey any legal or equitable interest in the property (by deed, land contract, option, 10ng- 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) "tI-. Dated this 11- day of ~b , 20 0..3 . (SEAL) (SEAL) AUTHENTICATION ACKNOWLEDGEMENT STATE OF WISCONSIN) COUNTY ) Signature(s) Authenticated this _day of _20- Personally came before me this /1%yof Dec~Mkv 20.l2...3...-, the above named _Tyler Noel TITLE: MEMBER STATE BAR OF WISCONSIN (If not, authorized by Sec 706.06, Wis Stats) (ö' mc Imc\vn to be the þerson(s) who executed the forcgaing instrument and acknowledge the sarne. ' '1ll~ ~ JJtU:1t ?VL Notary Public, ])a h( County My Commission~) (expires) A';'j,,~t 12. 20.£:L.. (Signatures may be authenticated or acknowledged. Both are not necessary.) THIS INSTRUMENT DRAFTED BY, Lynn Lorenson, Asst. City Attorney, Oshkosh, WI