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HomeMy WebLinkAbout448 N Main Street , -' MORTGAGE INSTRUMENT 1394349 REGISTER'S OFFICE WINNEBAGO COUNTY. WI RECORDED ON 04112/2006 04:00PM JULIE PAGEL REGISTER OF DEEDS Document Number Document Title CITY OF OSHKOSH DEFERRED PAYMENT LOAN RECORDING FEE. fltAN,.qrfR FI::I # OF PAGES 13.00 2 I hereby mortgage, convey and warrant to the CITY OF OSHKOSH, a Municipal Corporation located in Winnebago County, Wisconsin Recordinl! Area (mortgage lender), in consideration of my receiving a deferred payment loan Name and Return ~tJfIress _ . in the amount of NINETY-NINE THOUSAND NINE HUNDRED NINETY- ~ TWO DOLALRS and Noll 00 ($99,992.00) for the rehabilitation, preservation and City Attorney's Office Oshkosh, WI 54902-1130 enhancement of rental residential real property which is commonly known as 448 NORTH MAIN STREET, Oshkosh, Wisconsin and legally described as being in Winnebago County, State of Wisconsin: 904-0096-0000 Parcel Identification No. Lot 16, also the N 19 ft. of the E 20 ft. of Lot 17; also the N .7 ft. of the W 92 ft. of Lot 17, all in Block 40, Leach's Map, 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: First mortgage to US Bank or its assignee in the amount of$320,000.00 dated October 28,2005 and recorded in Register of Deeds office as Doc. No. 1376237. Second mortgage to US Bank or its assignee in the amount of$50,000.00 dated March 6, 2006 and recorded in Register of Deeds office as Doc. No. 1390303. 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, in 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 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 of this mortgage or the Borrower's CertificationJor 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 ~~;rl f'~_ ~..... ~f' rl~f'~_~-l _M_~_'" 1~~_ ~._-l~ ~_ _...t.__...:~_ 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 12- day of IJpr) 1 , 20 D& JAHNKE 448 MAIN LLC ~ ~ f;~JL Je ~hnke k. (SEAL) (SEAL) AUTHENTICATION ACKNOWLEDGEMENT Signature(s) STATE OF WISCONSIN ) IAJi Y\,N'.1,n. J 0 COUNTY ) Authenticated this _day of 20_ (Ifnot, authorized by Sec 706.06, Wis Stats) Personally came before me this J~ay of ~~ 20 0 (Q , the above named .:re~r-~ A:. ::rAA,,\Ge~ to me known to be the person(s) who executed the foregoing instrument and acknowledge the same. TITLE: MEMBER STATE BAR OF WISCONSIN ~~.~ Notary Public, ~\'\'\.;;~ County My commissio~ W~ClmR1*)Ht) ( Plres~OQk (Signatures may be authenticated or acknowledged. Both are not necessary.) THIS INSTRUMENT DRAFTED BY: Lynn Lorenson, Asst. City Attorney, Oshkosh, WI