HomeMy WebLinkAboutRichard Schlimm/Letter of Agreement 0/1-K011-1 RENTAL REHABILITATION PROGRAM
ON THE WATEP
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 90
after the date of project approval. days
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
Seven Thousand and No/ 100
($7 , 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:
BALDWIN & KNAPPS ADD. , W 70 . 5 ft . of S . 95 . 2 ft . of Lot 31 ,
Block A, 10th Ward, City of Oshkosh , Winnebago County ,
Wisconsin .
(commonly known as 200 E . Irving Avenue)
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 gree to ?•ay to the City of
Oshkosh all amounts gr . ed mmed' -t- y u•on demand.
Signature of Borrower _ Date o1 -2:2-67P
1' re a"cI �Lh1;rnW,
Signature of Borrowe Date
State of Wisconsin
County of Winnebago
Personally came before me this 2k , day of l_a
19 ?2 , the above named person(s) to me known to be the per n(s)
who executed the foregoing instrument and acknowledged the same.
NOTARY PUBLIC, Winnebago Ccunty
My Commission Expires 1 -3 -8a'
This document was afted by:
I A"EN P. KRA T c
Assistant City Attorney