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HomeMy WebLinkAbout129 W 16th AvenueMORTGAGE 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 TWENTY ONE THOUSAND FIVE HUNDRED TEN DOLLARS and NO /100 ($21,510.00) for the rehabilitation, preservation and enhancement of owner occupied residential real property which is commonly, known as 129 W. 16 th Avenue, Oshkosh, and legally described as being in Winnebago County, State of Wisconsin: Lot 5, Block 44, in the Plat of ORIGINAL THIRD WARD, 3rd Ward, City of Oshkosh REGISTER'S OFFICE WINNEBAGO COUNTY, WI RECORDED ON 07/15/2 91 :58AN JULIE PAGEL REGISTER OF DEEDS RECORDING FEE 13.00 TRANSFER FEE It OF PAGES i Recordine Area Name and Return Address City Attorney's Office Y t G•i Oshkosh. WI 54902 -1130 _903- 0539 -0000 Parcel Identification No. This is homestead property. This is not a purchase money mortgage. v record his property and that the title is free and clear of all encumbrances, excepting only restrictions and easements I certi that I have title d this, and''the' zoning "drdinarices, cur`rent'taxes'and°assessments. not "yet due'and any encumbrance noted below: NONE 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. 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 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 conditlori' and repair. T will not do anything to diminish or impair the of the .mortgaged property.,= . r 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.