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HomeMy WebLinkAbout1840 Sheridan StY MORTGAGE 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 rt lender) in consideration of m receiving a deferred payment loan (m0 gage , .7 Name and Return Address in the amount of FIVE THOUSAND ONE HUNDRED SIXTY FOU DOLLARS and NO /100 ($5,164.00) for the rehabilitation, preservation and enhancement of owner occupied residential real property which is commonl known as 1840 Sheridan Street, Oshkosh; and legally described as` being in Winnebago County, State of Wisconsin: Lot 2, and the North 25 feet of Lot 3, Block 15, in ALGOMA PARK PLAT, 12th Ward, City of Oshkosh This is homestead property. This is not a purchase money mortgage. City Attorney's Office Oshkosh, W154903 -1130 _912 -1714 -0000 Parcel Identification No. I certify that I have title to this property and fthat the title is 'free and clear of all encumbrances; excepting only restrictions and easements ' 0& record, 'municipal and the zoning ordinances, current taxes . and' assessments not yet due and "a6y encumbrance noted below: First rnortgage'to`Anchor Bank in the amount of $67,400 and recorded in Register of Deeds office on 12/1/08 as Doc. No. 1488691. Second mortgage to Winnebago County Housing Authority in the amount of $16,000 and recorded in Register of Deeds office on 12/1/08 as Doc. No. 1488692. Third mortgage to City of Oshkosh in the amount of $4,000 and recorded in Register of Deeds office on 12/1/08 as Doc. No. 1488693. 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 ui'sured for fire and extended coverage perils for at least the "full and fate market value of the property and pay the premiums thereon`when due: I will make sure the City of Oshkosh'islisted M 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 1, 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, condition's'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 inortgageyl5 assigned. •° ; i L L T 0 8 20 i REGISTER'S OFFICE WINNEBAGO COUNTY. VI RECORDED ON 09/25/ 08:53AN jt11 ig PAGEL REGISTER OF DEEDS'` RECORDING FEE 13.00 TRANSFER FEE # OF PAGES 2 Area