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HomeMy WebLinkAbout59 Frankfort Street I111IIII11111 11111111 MORTGAGE 8 Tx:4355033 0 Document Number Document Title 1 aAW DOC* 1784596 CITY OF OSHKOSH NATALIE STROHMEYER REGISTER OF DEEDS ONE OSHKOSH PROGRAM WINNEBAGO COUNTY, WI INSTALLMENT LOAN RECORDED ON: 02/26/2019 11:36 AM RECORDING FEE: 30.00 I hereby mortgage, convey and warrant to the CITY OF OSHKOSH, a PAGES: 3 Municipal Corporation located in Winnebago County, Wisconsin (mortgage lender), in consideration of my receiving an installment loan in th- amount of FIVE THOUSAND DOLLARS and NO/100 ($5,000.00) for th- purchase, of owner occupied residential real property which is commonly known as 59 Frankfort Street, Oshkosh, and legally described as being in Recording Area Winnebago County, State of Wisconsin: Name and Return Address The NORTHERLY 47.75 FT of the SOUTHERLY 143.25 FT of LOT 2,BLOCK 35,LEACHS City Attorney's Office MAP,in the 8TH Ward,City of Oshkosh,Winnebago County,Wisconsin. Oshkosh,WI 54903-1130 This is homestead property. This is a purchase money mortgage. _908-0556-0000 Parcel Identification No. 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 First Centennial Mortgage Corporation in the amount of$124,010 dated on or about 02/25/2019. 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 installment 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 installment 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 installment 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 work performed by any contractor on my property,whether paid for out of installment 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, long- 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) S Dated this day of � v r�/ , 2019 We...A/010 ICJ . SCOTT G. BERNDT AUTHENTICATION ACKNOWLEDGEMENT l''llllllll ````' RACHF</ Signature(s) STATE OF WISCONSIN ) WINNEBAGO COUNTY ) _c ti; NO Authenticated this day of 20 = y -o y m O , C yn Personally came before me this 5-day o f 7 20 �`�► PRINTED NAME: the above named 5tr* l�. 1 TITLE:MEMBER STATE BAR OF WISCONSIN (If not, to me known to be the person(s)who executed the foregoing authorized by Sec 706.06,Wis Stats) inst nt and acknowled:- the . e. rIA1 (Ann,Notary Public, s Q County My Commi sion(is perm ent)(e yes) -19 20oD (Signatures may be authenticated or acknowledged.Both are not necessary.) Document drafted by: Lynn Lorenson,City Attorney,Oshkosh,WI RE: 59 FRANKFORT ST, OSHKOSH, WI FORGIVABLE LOAN PROMISSORY NOTE AND BORROWERS CERTIFICATIONS As an applicant for a loan to be financed with ONE Oshkosh funds through the City of Oshkosh, Department of Community Development, I hereby acknowledge and agree as follows: 1) I authorize the City of Oshkosh Code Enforcement Inspectors to inspect the property financed by this loan. 2) None of the proceeds of this loan will be used to finance any improvements undertaken prior to the date of application approval. 3) I authorize the City of Oshkosh to make any and all documents pertaining to this loan available to the City of Oshkosh or its agents. 4) I certify that I have record title to or an equitable interest in the property to be purchased and occupy it on a permanent year-round basis. 5) 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. 6) I agree to comply with the ONE Oshkosh Program requirements. 7) I accept from the City of Oshkosh,a forgivable loan in the amount of FIVE THOUSAND DOLLARS and NO/100 ($5,000.00)and agree that I will notify the City of Oshkosh upon the transfer of the property, which is secured by a mortgage of even date herewith, if it is transferred during the life of this lien,at which time the grant will be repaid based on the following table: PROPERTY SOLD WITHIN GRANT REPAYMENT 1 year 100% 1-2 years 80% 2-3 years 60% 3-4 years 40% 4-5 years 20% I will notify the City of Oshkosh upon transfer of my property, if the property is transferred during the life of this mortgage,at which time the balance of this grant will become immediately due and payable to the City of Oshkosh. 8) The corresponding mortgage will cease and this promissory note will be void at the end of five(5)years from the date of recording. (PLEASE NOTE THE SINGULAR I ALSO INCLUDES THE PLURAL"WE" IF THERE IS MORE THAN ONE SIGNATURE APPEARING BELOW) This note is secured by mortgage on real estate of even date herewith. 1 Dated this day of Fe b v q r / , 2019. Cirrt- SCOTT G. BERNDT