Fill and Sign the Form of Mortgage Deed of Trust Secgov

Extension of Loan Agreement Secured by a Deed of Trust as to Maturity Date and Increase in Interest Rate Agreement made on the ____________________________________ (date), between ____________________________________________ (Name of Trustor) of ________________________________________________________________________________________________________________________________________________ (street address, city, county, state, zip code), referred to herein as Trustor, and ____________________________________________ (Name of Lender), a corporation organized and existing under the laws of the state of _____________________________, with its principal office located at ____________________________________________ ___________________________________________________________________________________ (street address, city, county, state, zip code), referred to herein as Lender. Whereas, on _______________________________________ (date), Trustor borrowed the original principal sum of $____________ from Lender as evidenced by Loan Number _____________ and the Promissory Note dated _____________________ ________ (date) (the Note), a copy of which is attached hereto as Exhibit A and initialed by both parties, and which Note is secured by that certain Deed of Trust (the Deed of Trust) dated __________________________________ (date) and recorded in Book ____________ at Page ___________ of the office of _____________________________ ________________________________________________________________________________________ (County official’s name and office where Deeds are recorded); and Whereas, the description of the real property covered in and by said Deed of Trust is hereby incorporated herein by reference thereto; and Whereas, there is now due and owing on the Note the sum of $____________ with interest continuing to accrue at the rate of _______% per annum as set forth in said Note; and Whereas, there are no defenses or offsets to the Deed of Trust or to the debt that it secures. Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Extension of Maturity DateLender hereby extends the time of payment of the principal indebtedness secured by the Note and Deed of Trust from the present maturit
Date of the note and from the due date of said note and deed of trust to June 30, interest for the period from june 30, 2017, to and including june 30, 2027 is set at % per annum as set forth in the promissory note and is in addition to any interest that might accrue at the time of settlement of the note or at a later time in the case of interest rates are fixed from time to time, the interest rate to be determined from the Federal Reserve board as amended and adjusted. As a condition precedent to the extension of the date of maturity of the promissory note and in order thereby to avoid delay in payment of principal and interest, the trustee or lender agrees, as a condition precedent to the extension of the maturity date, that trust or be granted a continuance of the payment of principal and interest on the note and deed of trust, which date may be extended by a letter of transmittal or otherwise, until the debtor has fulfilled his obligations under this loan agreement further provided that the note will bear a legal interest of one-half of the amount and interest thereon for a period of ten years from and including the date of issuance. It is agreed that the principal and interest of such note shall commence on the date first paid to the note holder and shall be payable and secured by the collateral and by all property held in this note does not become due and payable till the debtor has, or may have, complied with his obligations under it is agreed that in case both parties fail to fulfill their respective obligations, each shall be liable to the other for the full amount of the due and due if the note holder fails to receive payment, trust or agrees to pay interest on any unpaid amount of principal to the person entitled thereto at a rate of % per month, or in default of payment in full, the note issuer shall immediately mail a notice of intent to foreclose and file a petition in the court having jurisdiction where the debtor resides or transacts business, requesting such court to issue such writs and orders in the case, and to enforce compliance and enforcement of such writs and orders, in the event the court so determines, and the person entitled thereto shall then have a right to an automatic writ of attachment and execution issued by the clerk of such court, pursuant to section 1-716, against said debtor, such writ being in addition to the other.