94000-ORCF-ADD Security Instrument/Mortgage/Deed of Trust Addenda (vari

OMB Approval No. 2502-0605

(exp. 03/31/2018)

Addendum

(Wisconsin)

HUD Project Number:

Project Name:

The following Section 43 is inserted into and adds to Section 43 of the Security Instrument:

43. ACCELERATION; REMEDIES. If Lender invokes the power of sale pursuant to Wis. Stat. § 708.05, Lender shall give notice of sale in the manner provided by the laws of Wisconsin to Borrower and to such other persons as the laws of Wisconsin prescribe, and shall sell the Mortgaged Property according to the laws of Wisconsin. Lender may sell the Mortgaged Property in one or more parcels and in such order as Lender may determine. Lender may postpone sale of all or any part of the Mortgaged Property by public announcement at the time and place of any previously scheduled sale. Lender or Lender's designee may purchase the Mortgaged Property at any sale.

Lender shall deliver to the purchaser Lender's deed conveying the Mortgaged Property so sold without any covenant or warranty, express or implied. The recitals in Lender's deed shall be prima facie evidence of the truth of the statements made therein. The proceeds of the sale shall be applied in the following order: (a) to all costs and expenses of the sale, including attorneys' fees and costs of title evidence; (b) to the Indebtedness in such order as Lender, in Lender's discretion, directs; and (c) the excess, if any, to the clerk of the Circuit Court of the county in which the sale is held.

The following provision is to be inserted into the Security Instrument as Section 50, an additional provision for Wisconsin projects:

OBLIGATION TO FILE NOTICE OF MORTGAGE STILL IN EFFECT. Borrower hereby authorizes Lender to file a notice of mortgage still in effect with the county recorder’s office in the jurisdiction in which the Mortgaged Property is located prior to the expiration of thirty (30) years from that the date that the mortgage is recorded, in such form as Lender may require, to continue the perfection of the mortgage lien pursuant to Wis. Stat. § 893.33, as may be amended or any successor provision thereto.

In addition, Borrower hereby authorizes Lender to file a fixture filing continuation, in such form as Lender may require, to continue the perfection of this security interest pursuant to Wis. Stat. § 409.515, as may be amended or any successor provision thereto.

THE SECURITY INSTRUMENT SHALL BE PREPARED TO CONFORM TO THE REQUIREMENTS OF THE LOCAL FILING JURISDICTION IN WHICH THE DOCUMENT IS TO BE RECORDED AND FILED.

Previous versions obsolete Page 1 of 1 Form HUD-94000-ADD-ORCF (03/2018)

Security Instrument/Mortgage/Deed of Trust - Addendum