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

OMB Approval No. 2502-0605

(exp. 03/31/2018)

ADDENDUM

(Territory of the U.S. Virgin Islands)

HUD Project Number:

Project Name:

The title of the Security Instrument is modified as follows: HEALTHCARE MORTGAGE (CONSTRUCTION SECURITY INTEREST) ASSIGNMENT OF RENTS AND SECURITY AGREEMENT.

The following section is inserted into the Security Instrument and made a part thereof:

50. Future Advances. This Security Instrument shall, secure not only existing indebtedness, but also future advances, whether such advances are obligatory or to be made at the option of the Lender, or otherwise, to the same extent as if such future advances were made on the date of the execution of this Security Instrument or other instrument, although there may be no advance made at the time of the execution of this Security Instrument or other instrument and although there may be no indebtedness outstanding at the time any advance is made. Such lien, as to third persons with or without the actual knowledge therein, shall be valid as to all such indebtedness as future advances from the time this Security Instrument or other document is recorded as provided by the applicable statute of the Territory of the U.S. Virgin Islands. The total amount of the indebtedness that may be so secured may decrease or increase from time to time, but the total unpaid balance so secured at any one time shall not exceed _________________________________________ $______________, plus interest thereon, service charges and any disbursements made for the payment of taxes, assessments, or insurance on the property covered by the lien, with interest on such disbursements. This Security Interest and all such existing indebtedness, future advances and disbursements thereunder, interest thereon, and service charges, shall have preference to and priority over any lien which is subsequent in time to the time this Security Interest or other instrument is recorded as provided by the applicable statute of the Territory of the U.S. Virgin Islands. Nothing herein shall be construed to limit any agreement between the lender and the borrower as to the time period for the repayment of such existing indebtedness, future advances and disbursement, interest, and service charges.

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