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HomeMy WebLinkAbout2504B Village LaneMORTGAGE Document Number Document Title CITY OF OSHKOSH RESIDENTIAL 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 SIX THOUSAND DOLLARS and NO /100 ($6,000.00) for rehabilitation, preservation and enhancement of owner occupied residential property which is commonly known as 2504B Village Lane, Oshkosh, and leg described as being in Winnebago County, State of Wisconsin: 1 !E5 ?4!ffi REGISTER "S OFFICE WINNEBAGO COUNTY, VI RECORDED ON 04/06/2W9- 01:34PH JULIE PAGEL REGISTER OF REEDS RECORDING FEE 15.00 TRANSFER FEE # OF PAGES Recording Area Name and Return Address Unit 2504B & Garage 7 of THE VILLAGE AT WESTHAVEN CONDOMINIUMS and an undivided interest in the common elements as described in Document #623855 R of D including Amendments thereto, 13th Ward, City of Oshkosh This is homestead property. This is not a purchase money mortgage. City Attorney's Office Oshkosh. WI 54903 -11 3 _913- 2066 -0000 Parcel Identification No. 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 successors in the amount of $49,000 dated on or about 3/31/09. 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, if I 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. 1 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 will make sure the City of Oshkosh is listed as a mortgage holder on the insurance policy. 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 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 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 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. p �L APR 16 2009 CITY C�.F ' OFFICE 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(_ day of M �� , 2009 (SEAL) TERRI A. BRATH AUTHENTICATION Signature(s) Authenticated this day of 20_ PRINTED NAME: TITLE: MEMBER STATE BAR OF WISCONSIN (If not authorized by Sec 706.06, Wis Stats) (Signatures may be authenticated or acknowledged. Both are not necessary.) (SEAL) ACKNOWLEDGEMENT STATE OF WISCONSIN ) WINNEBAGO COUNTY ) Personally came before me tJ I ty of 1. C GJL2O� the above named `rk t ; jl� ot'JIIM1411 a orm " s q 0 W116�C r i IlM111�0 m to be the person(s) who executed the foregoing and acknowledge thelsan 6. n (is p�rr per4 (expires) Document drafted by: Lynn Lorenson, Asst. City Attorney, Oshkosh, WI Exhibit " A " The property description for the property located at 2504 Village Lane #B, Oshkosh Wisconsin: Unit 2504B and Garage No. 2504Z in THE VILLAGE AT WESTHAVEN, A Condominium, being a condominium created under the Condominium Ownership Act of the State of Wisconsin by a "Declaration of Condominium for the Village of Westhaven, A Condominium ", dated the 27 day of December, 1984 and recorded the 27 day of December 1984 in the Office of the Register of Deeds for Winnebago County, Wisconsin, as Document No. 623855 and as amended by the First Amendment recorded on July 22, 1985, as document No. 634398; Second Amendment recorded on April 24, 1987, as Document No. 678319; Third Amendment recorded on June 15, 1988, as Document No. 703102; and Fourth Amendment recorded on October 18, 1989 as Document No. 731879 and Amendment and Restatement recorded on June 8, 2006 as Document No. 1400928 and by a Condominium Plat thereof, Together with all appurtenant rights, title and interests, including (without limitation): a) the undivided percentage interest in all Common Elements as specified for such Unit in the aforementioned Declaration; b) the right to the use of the areas and /or facilities, if any, specified in the aforementioned Declaration, as Limited Common Elements for such Unit; and c) membership in The Village At Westhaven Association of Condominium Owners, Inc. (hereafter the "Owners Association "), as provided for in the aforementioned Declaration and in any Articles of Incorporation and /or Bylaws for such Owner's Association.