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[Rider to be added to the standard mortgage]
1. Identification of Wraparound Mortgage. This Mortgage is a
wraparound mortgage. The security given hereby secures the loan made by
Mortgagee to Mortgagor, as well as the balance due under the following
prior mortgage (Prior Mortgage): Mortgage, dated [date], made by
[name] to [lending institution], in the original principal sum of
---------- dollars ($----------) and reduced to the present principal
balance of ---------- dollars ($----------), recorded on [date] in
liber [number], page [number], of the Clerk of [county]'s Records.
This wraparound mortgage is subordinate to the Prior Mortgage.
2. Limit Future Modifications.
a. No change in Prior Mortgage. Neither Mortgagor nor any
future owner of the mortgaged premises will, except as provided in this
Mortgage, without the written consent of Mortgagee, cancel, modify,
waive, defer, or delay compliance with any of the terms of the Prior
b. Default. If any action described in Paragraph 2(a) is
taken without the written consent of Mortgagee, Mortgagee, at
Mortgagee's option (i) may declare the entire unpaid principal hereunder
immediately due and payable or (ii) may exercise Mortgagee's right to
receive a sum equal to the amount by which any payments on the Prior
Mortgage are reduced, deferred, or waived, which sum will be applied to
reduce the principal of the note secured by this Mortgage. The failure
to make the latter payment within [number] days of demand for such
payment by Mortgagee is a default under this Mortgage enforceable in the
same manner as a default in making any payment required by this