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HomeMy WebLinkAboutTom Putzer/Letter of Agreement RENTAL REHABILITATION PROGRAM ON THE WATER DEPARTMENT OF COMMUNITY DEVELOPMENT Equal Housing opportunity CITY OF OSHKOSH PROPERTY TITLE LIEN AND PARTICIPANT CERTIFICATIONS As an applicant for a grant through the Rental Rehabilitation Program, I hereby acknowledge and agree as follows: 1. The proposed improvements listed in the specifications accurately describe how all the proceeds of the grant will be used. 2 . All improvements will be completed no later than 150 days after the data of project approval. 3 . I authorize the City of Oshkosh, the Department of Housing and Urban Development (HUD) , the Wisconsin Housing and Economic Development Authority (WHEDA) , or their agents to inspect the work financed by this grant. 4. None of the proceeds of this loan will be used to finance any improvements undertaken prior to the date of grant approval. 5. I authorize the City of Oshkosh to make any and all files and documents pertaining to this grant available to HUD and WHEDA. 6. I incorporate by reference all certifications made on the document "Certifications of Property Owners" as a part of these Certifications. 7. I am aware that any false statement or misrepresentation made in connection with this loan may subject me to criminal and civil penalties, under United States and Wisconsin law. 8 . I accept from the City of Oshkosh, a grant in the amount of Ten Thnuc,nc1 and Nn / l00 Dollars ($ 10 , 000 . 00 ) , and agree that if I sell the rental property identified below within ten (10) years of receiving this grant assistance, the grant will be repaid based on the following table: Rehabilitated Rental Unit Sold Within Grant Repayment 2 years 100% 4 years 80% 6 years 60% 8 years 40% 10 years 20% More than 10 years 0% 9 . I grant to the City of Oshkosh, and the City of Oshkosh hereby has, a mortgage on the real estate described below in the full amount necessary to satisfy my repayment obligation for the payment here made and for any subsequent payments made, and the cost, including reasonable attorney's fees, of collecting the same. The real estate subject to this lien is situated in Winnebago County in the State of Wisconsin, and is legally described as: SECOND ADDITION , E 10 ft . of Lot 7 and all of Lot 8 , Block F , 8th Ward , City of Oshkosh , Winnebago County , Wisconsin . 10. If any of the provisions of this Promissory Note, the corresponding mortgage note, or any of the attached specifications or other documents completed by me are violated by me, or if I am not in compliance with any of these provisions, then I agree to repay to the City of Oshkosh all amounts gr then, immediately upon demand. • Signature of Borrowe z-4-- Date /llp/ fl Tom Putz Signature of Borrower Date State of Wisconsin County of Winnebago • Personally came before me this 16th day of Febru.ar)!<,, , 19 88 , the above named person(s) to me known to be tire. person;(s) who executed the foregoing instrument and acknowledged the same. NOTARY PUBLIC, Winn Ca .ty My Commission Expires .. " ; ' S lT-i0 - 0 1411 ae o GC Thi document was drafted by: a WARREN P. v .FT hi Assistant City Attorney g - t/ Z (g) ti OJHK0/1-1 RENTAL REHABILITATION PROGRAM ON TIE WATER DEPARTMENT OF COMMUNITY DEVELOPMENT Equal Housing CITY OF OSHKOSH Opportunity PROPERTY TITLE LIEN AND PARTICIPANT CERTIFICATIONS As an applicant for a grant through the Rental Rehabilitation Program, I hereby acknowledge and agree as follows: 1. The proposed improvements listed in the specifications accurately describe how all the proceeds of the grant will be used. 2 . All improvements will be completed no later than 150 days after the date of project approval. 3 . I authorize the City of Oshkosh, the Department of Housing and Urban Development (HUD) , the Wisconsin Housing and Economic Development Authority (WHEDA) , or their agents to inspect the work financed by this grant. 4. None of the proceeds of this loan will be used to finance any improvements undertaken prior to the date of grant approval. 5. I authorize the City of Oshkosh to make any and all files and documents pertaining to this grant available to HUD and WHEDA. 6. I incorporate by reference all certifications made on the document "Certifications of Property Owners" as a part of these Certifications. 7. I am aware that any false statement or misrepresentation made in connection with this loan may subject me to criminal and civil penalties, under United States and Wisconsin law. 8 . I accept from the City of Oshkosh, a grant in the amount of Four Thousand and No/100 Dollars ($ 4,000.00--- ) , and agree that if I sell the rental property identified below within ten (10) years of receiving this grant assistance, the grant will be repaid based on the following table: Rehabilitated Rental Unit Sold Within Grant Repayment 2 years 100% 4 years 80% 6 years 60% 8 years 40% 10 years 20% More than 10 years 0% 9 . I grant to the City of Oshkosh, and the City of Oshkosh hereby has, a mortgage on the real estate described below in the full amount necessary to satisfy my repayment obligation for the payment here made and for any subsequent payments made, and the cost, including reasonable attorney's fees, of collecting the same. The real estate subject to this lien is situated in Winnebago County in the State of Wisconsin, and is legally described as: SECOND ADDITION, E 10 ft. of Lot 7 and all of Lot 8, Block F, 8th Ward, City of Oshkosh, Winnebago County, Wisconsin. 10. If any of the provisions of this Promissory Note, the corresponding mortgage note, or any of the attached specifications or other documents completed by me are violated by me, or if I am not in compliance with any of these provisions, then I agree to repay to the City of Oshkosh all amounts granted immediately upon demand. Signature of Borrower ' Date 9 _ , — Tom Putzer Signature of Borrower Date State of Wisconsin County of Winnebago Personally came before me this day of March 19.18 , the above named person(s) to me known to be the person(s) who executed the foregoing instrument and acknowledged the. same. Lk(e . NOTARY PUBLIC, Wir,}neb,agq . unity My Commission Expires A; 16 This document was drafted by: WARREN P. KRAF Assistant City Attorney