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HomeMy WebLinkAbout632 Monroe Street � lnlsF�tllll lltl IIIPII III IIL �-,,, MORTGAGE 8 Tx:428832 3 Document Number Document Title 1722725 REGISTER'S OFFICE CITY OF OSHKOSH SAdINNEBAGO COUNTY,WI RESIDENTIAL REHABILITATION PROGRAM RECORDED ON DOWN PAYMENT ASSISTANCE 09/12/2016 32:34 PM DEFERRED PAYMENT LOAN CHRISTOPHER LARSON DEFUTY REGISr Ess OF DEEDS I hereby mortgage,convey and warrant to the CITY OF OSHKOSH,a RECORDING FEE 30.00 Municipal Corporation located in Winnebago County,Wisconsin SAGES: 2 (mortgage lender),in consideration of my receiving a deferred payment loan in the amount of TEN THOUSAND DOLLARS and NO/100 ($10,000.00)as down payment assistance for the acquisition of the Recording Area owner occupied residential real property which is commonly known as Name and Return Address 632 MONROE STREET,Oshkosh,and legally described as being in City Attorneys Office Winnebago County,State of Wisconsin: Oshkosh,W154903-1130 Lot 27,Block 61,Fords Addition,4'Ward _904-0609-0000_ City of Oshkosh,Winnebago County,Wisconsin Parcel Identification No. This is homestead property. 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 Associated Bank, or its successors in the amount of $59,400.00 dated on or about September 9,2016. Second mortgage to Winnebago County Housing Authority in the amount of$3,500.00 dated on or about September 9,2016- 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 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. I shall not transfer, sell or convey any legal or equitable interest in the property (by deed, land contract, option,Iong 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) 674- Dated this day of 2016 T RE A.LAUL STATE OF WISCONSIN ) WINNEBA.GO COUNTY ) Personally came before me this day of2016 the above named Theresa A. Laul to me known to be the person(s)who executed the foregoing instrument and acknowledge the same. Notary Public, 1 County My Commission(is ermanent)(ex es HILI 20 Document drafted by: Attorney Lynn Lorenson,Oshkosh,WI