6.1. HRSR 04-03-2023 - Laserfiche WebLink

Home Browse Search

(hereinafter designated as Mortgagor) to the Housing and Redevelopment Authority in and for the City of Elk River, Minnesota, a public body corporate and politic, whose main office if located at 13065 Orono Parkway, in the City of Elk River, County of Sherburne, State of Minnesota (hereinafter designated as Mortgagee). THIS MORTGAGE,made this day of , , by residing at This Mortgage is given in consideration of and as security for the payment of WITNESSETH:That said Mortgagor hereby mortgages and conveys to said Mortgagee the following described real property at the Mortgagor to make home improvements on the Property The Loan Funds are evidenced by a Note (the "Note") to the order of the Mortgagee of even date herewith, a copy of which is attached hereto as Schedule 1 and incorporated herein by reference. The Loan Funds shall be repaid according to the terms of the Note of the same date, provided that the final payment of principal and interest on the Note shall be due and payable on Dollars ($ ) (the "Loan Funds"), receipt of which is hereby acknowledged and which is made to enable a. To warrant title to the Property. Mortgagor makes and includes in this Mortgage the Statutory Covenants and other provisions set forth in Minnesota Statutes, Section 507.15, including without limitation: b. To pay all other mortgages, liens, charges or encumbrances against the Property as and when they become due. c. To pay the indebtedness of the Note as herein provided. d. To pay all real estate taxes on the Property. CEE / Elk_River_Mortgage / 01-19 (the "Property"), legally described as: , according to the recorded plat thereof, and situate in Sherburne County, Minnesota. Mortgage e. To keep the Property in repair and to commit no waste upon the Property. f. To keep any buildings on the Property insured against loss by fire and other hazards for at least the sum of the full insurable value of the Property for the protection for the Mortgagee.