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

OMB Approval No. 2502-0605

(exp. 03/31/2018)

ADDENDUM

(Maine)

HUD Project Number:

Project Name:

The following sections are inserted into the Security Instrument and made a part thereof:

43. This Instrument secures Indebtedness incurred primarily for a business, commercial or agricultural purpose. Borrower agrees that Lender shall have “The Statutory Power of Sale” pursuant to 33 M.R.S.A. §501-A and 14 M.R.S.A. §6203-A, et seq., which are incorporated herein by reference. Such statutory power of sale shall be in addition to all rights and remedies set forth in this Instrument or available under applicable law. The Mortgaged Property contains more than four residential units.

49. The Borrower hereby acknowledges and agrees that this Security Instrument secures obligations incurred for the construction of improvements on the Mortgaged Property (including acquisition costs of the Mortgaged Property), and constitutes a “construction mortgage” within the meaning of 11 M.R.S.A. §9-1334, as amended.

50. Lender may, at its sole option, from time to time make further advances to the Borrower, provided however, that the total principal amount secured hereby and remaining unpaid, including any such advances, shall not at any time exceed _____________($__________).

THIS 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