OMB Approval No. 2502-0605
(exp. 11/30/2022)
HEALTHCARE MORTGAGE,
ASSIGNMENT OF RENTS, FIXTURE FILING
AND SECURITY AGREEMENT ADDENDUM
(RHODE ISLAND)
HUD Project Number:
Project Name:
This Addendum is incorporated by reference into the HUD Healthcare Security Instrument dated even date herewith and made a part thereof. Nothing contained herein is in derogation of any other right or power contained in the body of the HUD Healthcare Security Instrument / Agreement.
GRANTING CLAUSE: TO SECURE TO LENDER the repayment of the Indebtedness evidenced by Borrower’s Healthcare Note dated as the of the date of the HUD Healthcare Security Instrument in the principal amount of amount of , and all renewals, extensions and modifications of the Indebtedness, and the performance of the covenants and agreements of Borrower contained in the Loan Documents, Borrower mortgages, warrants, grants, conveys and assigns to Lender, with Mortgage Covenants, upon the Statutory Condition and with the Statutory Power of Sale, the mortgage Property, including the Land located in the City/Town of ___________ , State of Rhode Island, and described in Exhibit A attached to and incorporated by reference into the HUD Healthcare Security Agreement .
The STATUTORY CONDITION and the STATUTORY POWER OF SALE referred to in the preceding paragraph, as well as the Mortgage Covenants stated therein are those contained in the General Laws of the State of Rhode Island and are in addition to those in the granting clauses of the HUD Healthcare Security Agreement.
ACCELERATION; REMEDIES. Borrower acknowledges the following additional Rhode Island provisions in addition to those set forth in paragraph 43 of the HUD Security Instrument/Agreement.
If Lender invokes the Statutory Power of Sale, Lender shall publish the notice of sale in the manner prescribed by the laws of Rhode Island and the Mortgaged property shall be sold in the manner prescribed by the laws of Rhode Island. Lender may sell the Mortgaged Property in one or more parcels and in such order as the 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.
Upon payment of the Indebtedness, this Instrument shall become null and void, and Lender shall record a discharge of this Instrument.
IN WITNESS WHEREOF, Borrower has signed and delivered or authorized its duly authorized representative to sign and deliver this instrument each signature acknowledged and signed under the pains and penalties of perjury this day of in the year .
_______________________________________________________________
The SECURITY AGREEMENT and THIS ADDENDUM THERETO SHALL BE PREPARED TO CONFORM TO THE REQUIREMENTS OF THE LOCAL FILING JURISDICTION IN WHICH THE DOCUMENT IS TO BE RECORDED AND FILED.
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Security Instrument/Mortgage/Deed of Trust - Addendum
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| File Modified | 0000-00-00 |
| File Created | 0000-00-00 |