Fill and Sign the Chattel Mortgage on Mobile Home Virginia Form

Chattel Mortgage on Mobile Home This Chattel Mortgage is made       , by       , of (Date) (Name of Mortgagor)       , hereinafter referred to as the Mortgagor, (Street Address, City, County, State, Zip Code) to       , of       , (Name of Mortgagee) (Street Address, City, County, State, Zip Code) hereinafter referred to as the Mortgagee. Mortgagor does now mortgage to Mortgagee the Mobile Home described in Exhibit A attached hereto and made a part hereof, and referred to herein as the Collateral, to be located at       , and in the actual possession of Mortgagor, as (Street Address, City, County, State, Zip Code) security for payment to Mortgagee of $       , as represented by a Promissory Note dated       , and payable to Mortgagee by Mortgagor as follows: (Date) One Promissory Note of even date herewith in the amount of $       , bearing interest from date at the rate of       Percent (       %) per annum, due and payable in       (Number) monthly install ments of $       , the first of said monthly install ments being due and payable on the first day of       , 20       , and with a similar monthly install ment being due and payable on the first day of each and every month there after until all of said       have matured, except any remaining indebtedness, if not sooner paid, shall be due (Number) and payable on       . (Date) This Chattel Mortgage is also given to secure payment of any and all present and future indebtedness or advances made during the existence of this Chattel Mortgage, up to and including $       . Mortgagor agrees and covenants for his/her executors, (Amount of Mortgage) administrators, and assigns, with Mortgagee as follows: 1. To pay the above-stated sum of money and interest at the times and in the manner described; 2. That he/she is the lawful owner of the Collateral; 3. That the Collateral is free from any and all encumbrances; 4. That (he/she) has the right to mortgage the Collateral; 5. That (he/she) w ill warrant and defend forever the Collateral for Mortgagee and assigns, against (himself/herself) and against all other persons; Chattel Mortgage on Mobile Home Page 1 of 3 6. To keep the Collateral insured against fire in a sum not less than $       for the benefit of Mortgagee and assigns, in the form and with the insurance company approved by Mortgagee; 7. Not to sell, assign, pledge, lease, or otherwise dispose of the Collateral, or remove the Collateral from the premises where it is to be located, without the prior, express, and written consent of Mortgagee; 8. To pay any and all taxes or assessments that may be levied on or against this Chattel Mortgage or on or against the debt; and 9. All other similar goods and chattels, and all additions to the goods that shall be brought by Mortgagor on the premises where Collateral is to be located, shall be subject to this Chattel Mortgage. Until default in payment of the sum of money and interest described above, or in observance or performance of any of the other agreements of Mortgagor, Mortgagor shall be entitled to retain possession of the Collateral, and to use and enjoy it. If Mortgagor fails to make any payment on the said Note, when due, or fails to comply with any of the terms or conditions set forth in this instrument, or in connection with this instrument commits any of the fraudulent practices with respect to chattel mortgages that are prohibited by Virginia law, the then unpaid balance of this Note shall immediately become due and payable, and Mortgagee may, in addition to any other rights and remedies that it may have, cause the Collateral to be seized and held until the entire amount due under this instrument is paid, or may, at its option, cause the Collateral to be seized and sold to the highest bidder for cash. Mortgagor waives notice, demand for payment, and appraisement in connection with any such proceedings. Time is of the essence of the said Note and Mortgage, and no waiver by Mortgagee of any breach of or default under this instrument by Mortgagor shall be deemed a waiver of any other breach or default subsequently occurring. The rights of Mortgagee under this instrument, whether set forth in this instrument or granted by law, are subject to the condition that if Mortgagor satisfies in full the obligation secured by this instrument, this Mortgage will be null and void. This Chattel Mortgage shall be governed by, construed, and enforced in accordance with the laws of the state of Virginia. The invalidity of any portion of this instrument will not and shall not be deemed to affect the validity of any other provision. If any provision of this instrument is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. Mortgagor acknowledges receipt of a signed copy of this entire instrument. Chattel Mortgage on Mobile Home Page 2 of 3 The parties have executed this instrument at       the day and year first (Place of Execution) above written. (Signature of Mortgagor) (Signature of Mortgagee)             Type or Print Name Type or Print Name State of Virginia ss. County of       I,       , a Notary Public for the County named above, in the State of Virginia, do certify that       , whose name is signed to the (Name of Mortgagor) writing above bearing the date of       , has acknowledged the same before me in my (Date) above-named County. Given under my hand this       . (Date) _________________________________ (Signature of Officer)       [SEAL] (Printed Name of Officer) Notary Public My (Commission/Term of Office) expires on:       . (Date) Chattel Mortgage on Mobile Home Page 3 of 3