21 2003 Mortgage Form PDF Details

In the realm of safeguarding interests and ensuring the fulfillment of obligations, the 2003 Wisconsin Form 21-2003 Mortgage document emerges as a comprehensive legal instrument tailored for specific financial transactions involving bail bond agreements. This document not only mandates the mortgaging of property to Lexington National Insurance Corporation, or its successors, as a security measure for the adherence to certain agreements but also encapsulates a wide array of covenants, defaults, remedies, and conditions directly linked to the bail bond process. Central to its purpose, the form necessitates the mortgagor to secure the payment of all monies owed under the bail bond agreement, along with any resultant liabilities, including but not limited to attorney fees, court costs, and any other financial obligations stemming from bail bonds issued on behalf of a defendant. Furthermore, it delineates the responsibilities of the mortgagor concerning property taxes, insurance, and maintenance, while also detailing the procedures and ramifications in the event of a default. This mortgage form, effective in the State of Wisconsin, not only prioritizes the protection of the mortgagee’s financial interests but also balances the need for clear, enforceable guidelines regarding the property used as collateral, thereby underscoring the legal complexities and the significance of such documents in the bail bond system.

QuestionAnswer
Form Name21 2003 Mortgage Form
Form Length5 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min 15 sec
Other names2003 form wisconsin 21, wisconsin form 21 2003, state bar of wisconsin form 21 2003 mortgage, state of wisconsin form 21 2003

Form Preview Example

Document Number

State Bar of Wisconsin

Form 21-2003

MORTGAGE

_______________________________________

and

 

 

 

 

 

_______________________________________, with

 

 

 

 

 

an address of _________________________,

 

 

 

 

 

___________________________________________

 

 

 

 

 

(individually, collectively, jointly, and severally,

 

 

 

 

 

Mortgagor”), mortgages to Lexington National

 

 

 

 

 

Insurance Corporation, with an address of P.O. Box

 

 

 

 

 

6098, Lutherville, Maryland 21094, its successors or

 

 

 

 

 

assigns ( Mortgagee,”whether one or more), to secure

 

Recording Area

performance of each agreement of Mortgagor herein

 

 

 

 

 

 

Name and Return Address:

contained and securing payment to Mortgagee of (a)

 

 

Lexington National Insurance Corporation

all monies due to Mortgagee pursuant to the Bail Bond

 

 

Attn: Mark T. Holtschneider, Esquire

Application and Agreement

and

the

Indemnitor

 

P.O. Box 6098

Application and Agreement, executed and delivered

 

Lutherville, Maryland 21094

by Mortgagor on or about the date of this Mortgage

 

 

 

 

 

(individually or collectively, the

Agreements”), (b) all

 

 

 

 

 

losses, damages, attorneys fees, investigation fees,

 

 

 

 

 

 

 

 

 

 

forfeitures, judgments, court assessments, and

 

 

 

 

 

liabilities

suffered,

sustained, or

incurred

by

 

 

 

 

 

 

Parcel Identification Number (PIN)

Mortgagee arising out of or relating to one or more bail

 

 

 

 

 

 

bonds

posted

on

behalf

of

defendant

 

This

homestead property.

___________________

in

the

amount

of

 

 

 

 

 

 

 

 

(is) (is not)

$________________ in the case of ______________

 

 

 

 

 

 

 

v. ________________ ( Action”), Power Number(s)

 

This is not a purchase money mortgage.

(if known) _______________, and (c) on account of or

 

 

 

 

 

 

related to the execution of any other bail bond

 

 

 

 

 

executed or posted by or for Mortgagee in connection

 

 

 

 

 

with or related to the Action or Agreements (all of the

 

 

 

 

 

foregoing items described in clauses (a) through (c)

 

 

 

 

 

above sometimes referred to collectively in this

 

 

 

 

 

Mortgage

as the

Obligations”),

and

all

other

 

 

 

 

 

amounts paid by Mortgagee hereunder, the following property, together with all rights and interests appurtenant thereto in law or equity, all rents, issue, and profits arising therefrom, including insurance proceeds and condemnation awards, all structures, improvements and fixtures located thereon, in

_____________________________County, State of

Wisconsin ( Property”):

Legal Description:

1

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1.MORTGAGOR S COVENANTS.

a.COVENANT OF TITLE. Mortgagor warrants title to the Property, except restrictions and easements of record, if any, as of the date hereof.

b.FIXTURES. Any property that has been affixed to the Property and is used in connection with it is intended to become a fixture. Mortgagor waives any right to remove such fixture from the Property that is subject to this Mortgage.

c.TAXES. Mortgagor promises to pay when due all taxes and assessments levied on the Property or upon Mortgagee s interest in it and to deliver to Mortgagee on demand receipts showing such payment.

d.INSURANCE. Mortgagor shall keep the improvements on the Property insured against loss or damage occasioned by fire, extended coverage perils, and such other hazards as Mortgagee may require, without co-insurance, through insurers approved by Mortgagee, in the amount of the full replacement value of the improvements on the Property. Mortgagor shall pay the insurance premiums when due. The policies shall contain the standard mortgage clause in favor of Mortgagee, and evidence of all policies covering the Property shall be provided to Mortgagee. Mortgagor shall promptly give notice of loss to insurance companies and Mortgagee. Unless Mortgagor and Mortgagee otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided Mortgagee deems the restoration or repair to be economically feasible.

e.OTHER COVENANTS. Mortgagor covenants not to commit waste nor suffer waste to be committed on the Property, to keep the Property in good condition and repair, to keep the Property free from future liens superior to the lien of this Mortgage and to comply with all laws, ordinances, and regulations affecting the Property. Mortgagor shall pay when due all indebtedness that may be or become secured at any time by a mortgage or other lien on the Property superior to this Mortgage and any failure to do so shall constitute a default under this Mortgage.

2.DEFAULT AND REMEDIES. Mortgagor agrees that time is of the essence for the performance of the terms, conditions, and covenants contained herein or in the Obligations secured hereby. In the event of default, Mortgagee may, at its option, declare the whole amount secured hereby due and payable, and collect it in a suit at law or by foreclosure of this Mortgage or by the exercise of any other remedy available at law or equity. If this Mortgage is subordinate to a superior mortgage lien, a default under the superior mortgage lien constitutes a default under this Mortgage.

3.NOTICE. Unless otherwise provided in the Obligations, prior to enforcing its remedies hereunder (other than specified herein) Mortgagee shall mail notice to Mortgagor specifying: (a) the default; (b) the action required to cure the default; (c) a date, not less than 15 days from the date the notice is mailed to Mortgagor by which date the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in such enforcement.

4.EXPENSES AND ATTORNEY FEES. In case of default, whether abated or not, all costs and expenses, including, but not limited to, reasonable attorneys fees, to the extent not prohibited by law shall be added to the amounts secured hereby, become due as incurred, and in the event of foreclosure be included in the judgment.

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5.FORECLOSURE WITHOUT DEFICIENCY. Mortgagor agrees to the provisions of Sections 846.101 and 846.103, Wis. Stats., as may apply to the Property and as may be amended, permitting Mortgagee in the event of foreclosure to waive the right to judgment for deficiency and hold the foreclosure sale within the time provided in such applicable Section.

6.RECEIVER. Upon default or during the pendency of any action to foreclose this Mortgage, Mortgagor consents to the appointment of a receiver of the Property, including homestead interest, to collect the rents, issues, and profits of the Property during the pendency of such an action, and such rents, issues, and profits when so collected shall be held and applied as the court shall direct.

7.WAIVER. Mortgagee may waive any default without waiving any other subsequent or prior default by Mortgagor.

8.MORTGAGEE MAY CURE DEFAULTS. In the event of any default by Mortgagor of any kind under this Mortgage or any Obligations secured by this Mortgage, Mortgagee may cure the default and all sums paid by Mortgagee for such purpose shall immediately be repaid by Mortgagor with interest at the rate then in effect under the Obligations secured by this Mortgage and shall constitute a lien upon the Property.

9.CONSENT REQUIRED FOR TRANSFER. Mortgagor shall not transfer, sell, or convey any legal or equitable interest in the Property (by deed, land contract, option, long-term lease or in any other way) without the prior written consent of Mortgagee, unless either the Obligations secured by this Mortgage are first paid in full or the interest conveyed is a mortgage or other security interest in the Property, subordinate to the lien of this Mortgage. The entire amounts under the Obligations secured by this Mortgage shall become due and payable in full at the option of Mortgagee without notice, which notice is hereby waived, upon any transfer, sale, or conveyance made in violation of this paragraph. A violation of the provisions of this paragraph will be considered a default under the terms of this Mortgage and the Obligations it secures.

10.ASSIGNMENT OF RENTS. Mortgagor hereby transfers and assigns absolutely to Mortgagee, as additional security, all rents, issues, and profits that become or remain due (under any form of agreement for use or occupancy of the Property or any portion thereof), or that were previously collected and remain subject to Mortgagor s control following any default under this Mortgage or the Obligations secured hereby and delivery of notice of exercise of this assignment by Mortgagee to the tenant or other user(s) of the Property in accordance with the provisions of Section 708.11, Wis. Stats., as may be amended. This assignment shall be enforceable with or without appointment of a receiver and regardless of Mortgagee s lack of possession of the Property.

11.SECURITY INTEREST ON FIXTURES. To further secure the payment and performance of the Obligation, Mortgagor hereby grants to Mortgagee a security interest in all fixtures and personal property located on or related to the operations of the Property whether now owned or hereafter acquired. This Mortgage shall constitute a security agreement within the meaning of the Uniform Commercial Code for those parts of the Property indicated above. This Mortgage constitutes a fixture filing and financing statement as those terms are used in the Uniform Commercial Code. This Mortgage is to be filed and recorded in the real estate records of the

county in which the Property is located, and the following information is included: (1) Mortgagor shall be deemed the debtor”; (2) Mortgagee shall be deemed to be the secured party” and shall have all of the rights of a secured party under the Uniform Commercial Code; (3) this Mortgage covers goods that are or are to become fixtures; (4) the name of the record owner of the land is the debtor; (5) the legal name and address of the debtor are

3

F:\wpdata\forms\DOT MTG Project\WI Bail Form 10

_____________________, __________________ [insert name and address of Mortgagor], and

(6)the name and address of the secured party are Lexington National Insurance Corporation, P.O. Box 6098, Lutherville, Maryland 21094.

12.SINGULAR; PLURAL, INVALIDITY. As used herein, the singular shall include the plural and any gender shall include all genders. If any provision or portion of this instrument is held to be invalid or unenforceable, this shall not impair or preclude the enforcement of the remainder of the instrument.

13.JOINT AND SEVERAL/LIMITATION ON PERSONAL LIABILITY. The covenants of this Mortgage set forth herein shall be deemed joint and several among Mortgagor, if more than one. Unless a Mortgagor is obligated on the Obligations secured by this Mortgage, Mortgagor shall not be liable for any breach of covenants contained in this Mortgage.

14.MARITAL PROPERTY STATEMENT. Any individual Mortgagor who is married represents that the obligation evidenced by this instrument was incurred in the interest of Mortgagor s marriage or family.

Dated

 

.

 

WITNESS(ES)

 

MORTGAGOR(S)

_____________________________________

____

(SEAL)

 

(SEAL)

Type name below signature

 

Type name below signature

_____________________________________

____

(SEAL)

 

(SEAL)

Type name below signature

 

Type name below signature

[if Mortgagor is married, husband and wife must sign]

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AUTHENTICATION

 

 

ACKNOWLEDGMENT

 

 

 

Signature(s)

 

 

STATE OF WISCONSIN,

)

 

 

 

 

 

 

 

 

 

 

 

 

)

ss.

 

 

 

 

 

 

 

 

COUNTY. )

 

 

authenticated on

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personally came before me on

 

 

,

 

 

 

 

 

 

the above-named

 

 

 

 

*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TITLE: MEMBER STATE BAR OF WISCONSIN (If not,

authorized by § 706.06, Wis. Stats.)

THIS INSTRUMENT WAS DRAFTED BY:

Lexington National Insurance Corporation

P.O. Box 6098

Lutherville, Maryland 21094

to me known to be the person(s) who executed the foregoing instrument and acknowledge the same.

*

Notary Public, State of Wisconsin

 

My commission (is permanent) (expires:

)

(Signatures may be authenticated or acknowledged. Both are not necessary.)

* Type name below signatures.

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