HomeMy WebLinkAboutPIN 911-0423-0000 . , i 111116 it lliiili
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MORTGAGE Tx:4226794
ASSUMPTION AGREEMENT 1726894
Document Number Document Title REGISTER'S OFFICE
1A�'INNEBAGO COUNTY,W1
This Mortgage Assumption Agreement is made and entered into this a� — da RECOR&E D O N
of bGt�Nr 2016 by and between the CITY OPOSHKOSH(CITY o 11/0212016 9;I5 AM
LENDER) and DAVID D. COOK AND RUTH M. REEHL, (COOK/REEHL o
BORROWER). CHRISTOPHER @rARSON
DEPUTY REGISTER OF DEEDS
1, The CITY is the holder and owner of a combined document consisting of a RECORD2NG FEE 30
DD
Mortgage Instrument and a Deferred Payment Promissory Note and Borrower
orrowe AGES 2
Certification(Loan Documents)that were filed with the Winnebago County Register
of Deeds on April 25,1988 as Document Number 699794.
Recording Area
2. The original borrower identified in the Loan Documents was David D.Cook and Name and Return Address
Bernice E.Cook,as the owners of the subject property(Property)described as: City Attorney's Office
FO Box i130
CHAS BARBERS REPEAT,Lot 2,Block 1,11'h Ward, Oshkosh,WI 54903-1130
City of Oshkosh,Winnebago County,Wisconsin 08
3. Bernice E.Cook passed away on February 19,2016. David D.Cook then 911-0423-0000
Filed a Transfer by Affidavit document with the Winnebago County Register of Deeds on Parcel Identification No.
March 11,2016,as Document Number 1708679,the effect of which the Property was
solely owned by David D.Cook.
4. David D.Cook subsequently conveyed the Property via Quit Claim Deed to David D.Cook and Ruth M.Reehl through a deed
dated June 7,2016,and recorded with the Winnebago County Register of Deeds on July 5,2016,as Document Number 1716935.
5. The terms of the original note and mortgage expressly prohibits the transfer,sale,or conveyance of the Property without the
written consent of the CITY.
6. The CITY is unwilling to give its consent to the transfer of the Property as described above without COOK/REEHL being
qualified to participate in the CITY's Residential Rehabilitation Program,and without COOK/REEHL agreeing to assume all of
the obligations heretofore imposed by the Loan Documents upon the original borrower.
7. Therefore,for and in consideration of the sum of$1.00,of the promise and mutual covenants in this Agreement,and other good
and valuable consideration, the receipt of which is acknowledged by both parties, the Loan Documents are assigned to
COOK/REEHL,COOK/REEHL accept this assignment,and the CITY consents to the assignment of the Loan Documents to
COOK/REEHL.
8. COOK/REEHL expressly assume the Loan Documents and agree.to perform all covenants,conditions,duties,and obligations
contained therein and agree to pay the note and the obligations therein promptly in accordance with the terms thereof.
9. The CITY consents to the transfer of the Property from David D.Cook,individually,to COOK/REEHL,but the CITY
expressly reserves the right to withhold its consent to any future sale,conveyance,or transfer of the Property as provided in the
Loan Documents.
10. David D.Cook,individually,and COOK/REEHL,affirm,warrant,represent,and covenant the following:
a. At this time they have no defenses or right of set-off against the CITY or against the payment, collection, or
enforcement of indebtedness evidenced by the Loan Documents;
b. They are aware of no acts that might prevent the CITY from exercising its rights outlined in the Loan Documents;
c. They are prohibited for any reason from entering into this Agreement and meeting their obligations as set forth in this
Agreement and in the Loan Documents;
d. All financial information provided to the CITY are true and correct in all respects and accurately reflect the financial
condition of COOK/REEI L.
e. They are duly informed of all conditions and that they acknowledge that the Loan Documents and all terms therein
remain in full force and effect,and there remains a principal amount owed to the CITY of Twelve Thousand and NO/100
Dollars($12,000.00).
IL The recording of this Agreement with the Public Land Records shall evidence the closing of the transaction described herein.
12. This Agreement shall be governed,interpreted,and construed by,through,and under the laws of the State of Wisconsin,with
the venue of any disputes being Winnebago County,Wisconsin.
13. This Agreement shall inure to the benefit of and be binding upon the parties hereto as well as their successors and assigns,heirs
and personal representatives.
[SIGNATURE PAGE FOLLOWS]
2�
RhT WIT'iESS WHEREOF,the parties have hereunto set their hands and seal as of the date above written.
CITY OF OSHKOSH
DAVID D.COOK Mar A.Rohlotf,City-Manage
'a
RUTH REEHL Pamela R Ubrig,City Clerk
STATE OF WISCONSIN )
ss.
COUNTY OF WINNEBAGO )
Personally came before me this —day of Q G ,2016,the above named Mark A.Rohloff,City Manager,and Pamela
R.Ubrig,City Clerk,to me known to be officers of the City of Oshkosh,a municipal corporation and who executed the foregoing
instrument and acknowledged the same. n
Notary blit,State of Wisconsin
My Commission is permanen (o-xes)�_
STATE OF 1 )
ss.
COUNTY 017& }; )
Personally came before me this `5 day of CA-_L- 2016,the above named DAVID D.COOK to me known to be the
person who executed the foregoing instrument and acknowledged the same
TINAPtEPGQW t ! Y�.L [ 'L.
Notary Public N ataxy Public,State of.. €- lam.
State of North Dakota My Commission(is permanent)(expires) —`tom.-
.My Commission Expires May i9,2022
1 _2STATE OF WISCONSIN )
)Bs'
COUNTY OF WINNEBAGO )
Personally came before me this 3�\day of_2016,the above named RUTH M.REEHI,to me known to be the
person who executed the foregoing instrument and acknowledged the sam .
otary Public,State of
My Commission(is gem)(expires)
Document drafted by.
David J.Praska
Assistant City Attorney
Oshkosh,Wisconsin