Agenda 07/12/2016 Item #16D 7 7/12/2016 16.D.7.
EXECUTIVE SUMMARY
Recommendation to approve one mortgage satisfaction for the State Housing Initiatives
Partnership loan program in the amount of$20,000.
OBJECTIVE: To support the affordability of housing in Collier County through State Housing
Initiatives (SHIP)down payment and emergency repair and/or rehabilitation assistance programs.
CONSIDERATIONS: The State Housing Initiatives Partnership Program (SHIP), a state affordable
housing program, offers assistance to first time homebuyers for use toward a portion of the required down
payment and emergency repairs to the newly acquired home. As a condition of award, the homeowner
must repay the assistance provided upon sale,refinance or loss of homestead exemption.
The following table provides details regarding the associated mortgage that has been repaid in full. As
such, a satisfaction of mortgage is required.
Security Mortgage Payoff
File# Name Instrument Amount Amount Public Record
12-025 Isabella Spinatto SHIP Second $20,000.00 $20,000.00 OR Book 4974
Mortgage Page 0606
Total $20,000.00 $20,000.00
Approval of this item will authorize the Chairman to sign the aforementioned satisfaction of mortgage
and the executed document shall be recorded in the Public Records of Collier County, Florida.
FISCAL IMPACT: The repaid amount of$20,000 satisfies the mortgage amount. This repayment is
considered program income and has been deposited in SHIP Grant Fund 791, Project 33429 and may
be reused for eligible SHIP activities. The $10 recording fee will be paid by the borrower.
LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority vote
for Board approval. -JAB
GROWTH MANAGEMENT IMPACT: There is no growth management impact.
RECOMMENDATION: That the Board of County Commissioners approves and authorizes the
Chairman to sign one mortgage satisfaction for an owner-occupied affordable housing unit for which
repayment in full has been provided to Collier County.
PREPARED BY: Wendy Klopf, Operations Coordinator, Community and Human Services Division
Attachments:
1) SHIP Satisfaction Spinatto
2) Spinatto, Isabella 12-025
3) SAP Back Up
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7/12/2016 16.D.7.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.D.16.D.7.
Item Summary: Recommendation to approve one mortgage satisfaction for the State
Housing Initiatives Partnership loan program in the amount of$20,000.
Meeting Date: 7/12/2016
Prepared By
Name: KlopfWendy
Title: Operations Coordinator, Community &Human Services
6/14/2016 3:36:51 PM
Submitted by
Title: Operations Coordinator, Community &Human Services
Name: KlopfWendy
6/14/2016 3:36:52 PM
Approved By
Name: GrantKimberley
Title: Division Director-Cmnty &Human Svc, Community&Human Services
Date: 6/23/2016 8:48:11 AM
Name: SonntagKristi
Title: Manager-Federal/State Grants Operation,Community&Human Services
Date: 6/24/2016 4:25:26 PM
Name: TownsendAmanda
Title: Division Director-Operations Support, Public Services Department
Date: 6/26/2016 10:22:43 AM
Name: AlonsoHailey
Title: Operations Analyst,Public Services Department
Date: 6/27/2016 11:34:27 AM
Name: LopezMaggie
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7/12/2016 16.D.7.
Title: Supervisor-Accounting,Community&Human Services
Date: 6/27/2016 5:26:16 PM
Name: CarnellSteve
Title: Department Head-Public Services,Public Services Department
Date: 6/28/2016 7:51:57 AM
Name: BelpedioJennifer
Title: Assistant County Attorney, CAO General Services
Date: 6/28/2016 2:08:33 PM
Name: RobinsonErica
Title:Accountant, Senior, Grants Management Office
Date: 6/30/2016 7:53:09 AM
Name: AshtonHeidi
Title:Managing Assistant County Attorney,CAO Land Use/Transportation
Date: 6/30/2016 1:11:27 PM
Name: StanleyTherese
Title: Manager-Grants Compliance, Grants Management Office
Date: 6/30/2016 5:50:46 PM
Name: CasalanguidaNick
Title: Deputy County Manager, County Managers Office
Date: 7/1/2016 5:07:06 PM
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- 7/12/2016 16.D.7.—
Prepared by:Wendy Klopf
Collier County
Community and Human Services
3339 E.Tamiami Trail
Naples,F1.34112
THIS SPACE FOR RECORDING
SATISFACTION OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:That COLLIER COUNTY, whose post office address is
3299 E TAMIAM1 TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holders) of a certain [[[
Mortgage executed by Isabella Sninatto to COLLIER.COUNTY,
recorded on 10/10/20)3 in Official Records Book 4974 Page 4606 , of the Public Records
of Collier County,Florida,securing a principal sum of$20:000.00 and certain promises and
obligations set forth in said Mortgage,upon the property described in the aforementioned mortgage.
COLLIER COUNTY hereby acknowledges full payment and satisfaction of said Mortgage, and
surrenders the same as cancelled,and hereby directs the Clerk of said Circuit Court to cancel the same of
record.
This Satisfaction of Mortgage was approved by the Board of County Commissioners on -
,2016,Agenda item Number
ATTEST: BOARD OF COUNTY COMMISSIONERS
DWIGHT E.BROCK,CLERK OF COLLIER COUNTY,FLORIDA
By: By:
,DEPUTY CLERK Chairman Donna Fiala,District I Commissioner
Approval for form and legality:
•
Jennifer A.Beledio ^ �
Assistant County Attorney t:J�' 'N �
1111)
Packet Page-1083-
INSTR 4900930 OR 4974 I )6 RECORDED 10/10/2013 12:16 PM PAGES 5 7/12/2016 16.D.7.
DWIGHT E. BROCK, CLERK 0I, ,E CIRCUIT COURT, COLLIER COUNTY FLORIDA
DOCSS.35 570.00 REG $44.00
OBLD $20,000.00
Prepared by and Return to:
Coater County
Housing,Human and Veteran Services Department
3339 E.Tamiarnl Trail,Building H,Suite 211
Naples,Florida 34112 ,
STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM
SECOND MORTGAGE
THiS SECOND MORTGAGE('Security Instrument')is given on t ' dayof 2013.The Second
Mortgagor Is;
Isabella Spinatto, A single person
('Borrower).This Security Instrument Is given to Collier County ('Lender'),which Is organized and existing under the laws
of the United States of America,end whose address is 3334 E. Tamiami Trail, Naples, Florida 34112.Borrower owes •
Lender the sum of Twaarrta Thousand and Do/100 Dollars 1E20,000. ,This debt is evidenced by Borrower's Note dated the
same date as this Security instrument('Second Mortgage'),which does not provide for monthly payments.The full debt,if not paid earlier,Is
due upon sate of the property within the fifteen veer term.If sold after the fifteen year term,no repayment is required.As long as the
borrower continues to own and occupy the assisted property during the term of the mortgage,then the loan will not have to be repaid,
•
This Security Instrument secures to Lender:(a)the repayment of the debt evidenced by the Note,with Interest,end all renewals,extensions
and modifications;(b)the payment of all other sums,with interest advanced under paragraph?to protect the security of the Security
Instrument;and(c)the performance of Borrower's covenants end agreements under this Security Instrument and the Nate.For this purpose,
Borrower does hereby second mortgage,grant and convey to Lender the following described property located In Collier County,Florida.
As more particularly described as;GOLDEN GATE EST UNIT 7 SLK 328 LOT 27 and which has the address oh
('Properly Address'): S1E1 32"Ave SW Naples, FT, 34116 •
(Address) • (City) (State) (Zip)
TOGETHER WITH all the Imorovernents now or hereafter erected on the property,and all easements,rights,appurtenances,rents,
royalties,mineral,oil and gas rights and profits,water rights and stock end all fixtures now or hereafter a pert of the property.All replacements •
and additions shaft also be covered by the Security Instrument.Ail of the foregoing Is referred to In this Security Instrument as the'Property',
BORROWER COVENANTS that Borrower Is lawfully seized of the estate hereby conveyed and has the right to mortgage,grant and
convey the Property and that the Property Is unencumbered,except for encumbrances of record.Borrower warrants end will defend generally
the title to the Property against all claims and demands,subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non•unitorm covenants with United variation by
jurisdiction to constitute a uniform security instrument covering real property.
UNIFORM COVENANTS.Borrower end Lender covenant end agree es follows:
1.Payment of Prtnelpel and Interest;Prepayment and Lets Charges.Borrower shall promptly pay when due the principal of and
interest on the debt evidenced by the Note.
2.Taxes.The Mortgagor wilt payer'taxes,assessments,sewer rents or water rates prior to the accrual of any penalties or Interest
thereon,
The Mortgagor shall payor cause tribe paid,as the same respectivety become due,(A)(1)all taxes and governmental charges of any
kind whatsoever which may at any time be lawfully assessed or levied against or with respect to the Properly,(2)all utility and other charges,
Including'service charges`,incurred or imposed for the operation,maintenance,use,occupancy,upkeep and Improvement of the Property,and
(3)all assessments or other governmental charges that may lawfully be paid In installments over a period of years,the Mortgagor shali be
obligated under the Mortgage to pay or cause to be paid only such installments as are required to be paid during the term of the Mortgage,end
shall,promptly after the payment of any of the foregoing,forward to Mortgagee evidence of such payment.
3.Application of Payment*.Ursesa applicable t w provides otherwise,all payments received by Lender shall be sppited;first,to
Interest due;and,to principal due;end tali,to any late charges due under the Note.
4.Charges;Liens.Borrower shall pay all taxes,assessments,charges,fines and Impositions atblbutsbie to the Property which may
attain priority over this Security Instrument,and leasehold payments or ground rents,If arty.Borrower shah promptly furnish to Lender at
notices of amounts to be paid under this paragraph,and all receipts evidencing the payments.
Borrower shalt promptly discharge any lienwhlch ties priority over this Security Instrument unless Borrower(e)agrees In writing to
the payment of the obligation secured by the hen in a manner acceptable to Lender;(b)contests In good faith the lien by,or defends against
enforcement of the lien In,legal proceedings which In the Lender's opinion operate to prevent the enforcement of the hen;or(c)secures from
the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument If Lender determines that any part
of the Property's subject toe lien which may attain priority over the Security Instrument,Lender may give Borrower a notice Identifying the hen.
Borrower shall satisfy the lien or take one or:pore of the actions set forth above within 10 days of the giving of notice,
5.Hazard or Property Insurance;Borrower shall keep the improvements now existing or hereafter erected on the Property Insured
against loss by tire,hazards Included within the term'extended coverage'and any other hazards,Including floods or flooding,for which Lander
requires Insurance,This insurance shall be maintained in the amounts and for the periods that Lender requires,The Insurance carrier
providing the Insurance shall be chosen by Borrower subject to Lender's approval which shell not be unreasonably withheld.If Borrower fails to
maintain coverage described above,Lender may,at Lender's option,obtain coverage to protect Lenders rights in the Property In accordance
with paragraph 7. At all times that the Note Is outstanding,the Mortgagor shall maintain Insurance with respect to the Premises against such
risks and for such amounts as are customarily insured against and pay,as the same become due and payable,all premiums In respect thereto,
including,but not limited to,eft-risk insurance protecting the Interests dale Mortgagor and Mortgagee against lose or damage to the Premises
by fire,lightning,and other casuettles customarily Insured against(including boiler explosion,If epproprlate),with a uniform standard extended
coverage endorsement,Including debris removal coverage.Such Insurance at at times to be in an amouhtrot less then the full replacement
cost of the Promises.exclusive of footings end foundations,
All insurance policies and renewals shalt be acceptable to Lender and shall Include a standard mortgage dense,Lender shall have.
the right to hold the policies and renewals, If Lender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal •
notices.in the event of loss,Borrower shall give prompt notice to the Insurance carrier and Lender. Lender may make proof()floss if not made
promptly by Borrower.
Unless Lender end Borrowerotherv.'ise agree in writing,Insurance proceeds shall be applied to restoration or repair of the Property
damaged,if the restoration or repair is economically feasible and Lender's security Is riot lessened,If the restoration or repair is not
economically feasible or Lender's security would be lessened,the Insurance proceeds shalt be applied to the sums secured by the Security
Instrument,whether or not then due,with any excess pard to Borrower. Ii Borrower abandons the Property,or does not answer within 30 days
a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may collect the Insurance proceeds.Lender may use
the proceeds to repair or restore the Property or to pay sums secured by this Security instrument whether or not then due,The 30.day period
will begin when the notice Is mated.Unless Lender and Borrower otherwise agree In wrhitg,any application of proceeds to principal shall not ,
extend or postpone the due dela of the monthiy payments referred to In paragraph 1 or change the amount of the payments.II Under paragraph
21 the Properly Is acquired by Lender,Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to
the acquisition shall pass to Lender to the extent of the sums secured by this.Security Instrument Immediately prior to the acquieltien.
i• .
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oft 4974 PG 607 7/12/2016 16.D.7.
6. Occupancy,Preservation,Maintenance and Protection of the Property;Borrower's Loan Application,Leaseholds. Borrower shall
occupy.establish,and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and
shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy,unless Lender
otherwise agrees in writing,which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which are beyond
Borrower's control. Borrower shall not destroy,damage or impair the Property,allow the Property to deteriorate,or commit waste on the
Property. Borrower shell be in default if any forfeiture action or proceeding,whether civil or criminal,Is begun that in Lender's good faith
Judgment could result In forfeiture of the Property or otherwise materially impair the gen created by this Security Instrument or Lender's security
interest. Borrower may cure such a default and reinstate,as provided In paragraph 18,by causing the action or proceeding to be dismissed
with a ruling that,In Lender's good faith determination,precludes forfeiture of the Borrower's Interest in the Property or other material
impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shell also be In default If Borrower,during the
loan application process,gave materially false or inaccurate information or statements to Lender(or failed to provide Lender with any material
Information)in connection with the loan evidenced by the Note,inducing,but not limited to,representations concerning Borrower's occupancy
of the Property as a principal residence. If this Security Instrument is on a leasehold,Borrower shall comply wIth all the provision of the lease.
if Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
7. Protection of Lender's Rights In the Property. if Borrower fails to perform the covenants and agreements contained in this
Security Instrument,or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a proceeding in
bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and pay for whatever is necessary to
protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which
has priority over this Security Instrument,appearing in court,paying reasonable attorneys'fees and entering on the Property to make repairs.
Although Lender may take action under this paragraph 7,Lender does not have to do so. Any amounts disbursed by Lender under this
paragraph 7 shalt become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms
of payment,these amounts shall bear interest from the date of disbursement at the Note rate and shell be payable,with Interest,upon notice
from Lender to Borrower requesting payment.
8.Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect. if,for any reason,the mortgage insurance
coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to obtain ooverage substantially
equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the cost to Borrower of the mortgage insurance
previously in affect,from en alternate mortgage Insurer approved by Lender. If substantially equivalent mortgage Insurance coverage is not
available,Borrower shall pay to Lender each month a sum equal to one•twellth of the yearly mortgage insurance premium being paid by
Borrower when tlx:Insurance coverage lapsed or ceased to be in effect. Lenderwill accept,use and retain these payments as a loss reserve
in lieu of mortgage insurance, Lass reserve payments may no longer be required,at the option of Lender,it mortgage Insurance coverage(in
the amount and for the period that Lender requires)provided by an Insurer approved by Lender again becomes available and is obtained.
Borrower shall pay the premiums required to maintain mortgage insurance In effect,or to provide a loss reserve,until the requirement for
mortgage Insurance ends In accordance with any written agreement between Borrower and Lender or applicable law.
9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower
notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
10. Condemnation.The proceeds deny award or claim for damages,direct or consequential,in connection with any condemnation
or other taking of any part of the Property,or for conveyance in lieu of condemnation,are hereby assigned and shall be paid to Lender. In the
event of a total taking of the Properly,the proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,
with any excess paid to Borrower. In the event of a partial taking of the Property,in which the fair market value of the Property immediately
before the taking is equal to or greater then the amount of the sums secured by this Security Instrument immediately before the taking,unless
Borrower and Lender otherwise agree in writing,the sums secured by this Security Instrument shall be reduced by the amount of the proceeds
multiplied by the following fraction:(a)the total amount of the sums secured Immediately before the taking,divided by(b)the fair market value
of the Property immediately before the taking.Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which
the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking,
unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides,the proceeds shall be applied to the sums
secured by this Security instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing,any
application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change
the amount of such payments.
11. Borrower Not Released,Forbearance By Lender Not a Waiver. Extension of the lime for payment or modification of
amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to
release the liability of the original Borrower or Borrower's successors in Interest. Lender shall not be required to commence proceedings
against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security
Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest.Any forbearance by Lender in
exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
12. Successors and Assigns Bound;Joint and Several Liability;Co-Signers.The covenants and agreements of this Security
Instrument shall bind and benefit the successors and assigns of Lender and Borrower,subject to the
Provisions of paragraph 17. Borrower's covenants and agreements shall be Joint and several. Any.Borrower who co-signs this Security
Instrument but does not execute the Note;(a)is co-signing this Security instrument only to mortgage,grant and convey that Borrowers interest
in the Property under the terms of this Security Instrument;(b)is not personally obligated to pay the sums secured by this Security instrument;
and CO agrees that Lender and any other Borrower may agree to extend,modify,forbear or make any accommodations with regard to the terms
of this Security instrument or the Note without that Borrower's consent,
13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges,and that
law is finally interpreted so that the Interest or other loan charges collected or to be collected In connection with the loan exceed the permitted
limits,then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;and(b)any sums
already collected from Borrower which exceeded permitted limits wit be refunded to Borrower. Lender may choose to make this refund by
reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal,the reduction will be
treated as a partial prepayment without any prepayment charge under the Note.
14. Notices.Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first
class mall unless applicable law required use of another method.The notice shall be directed to the Property Address or any other address
Borrower designates by notice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph.
15. Governing Law;Severability.This Security Instrument shall be governed by federal law and the law of the Jurisdiction in which
the Properly is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law,such
conflict shall not affect other provisions of this Security instrument or the Note which can be given effect without the conflicting provision. To
this end the provisions of this Security Instrument and the Note are declared to be severable.
16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security instrument.
17.Transfer of the Property or a Beneficial interest in Borrower. If all or any part of the Property or any interest In it Is sold or
transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)without Lender's prior written
consent,Lender may,at Its option,require immediate payment In full of ell sums secured by this Security instrument. However,this option shall
not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security instrument
If Lender exercised this option,Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 31)days
from the date the notice fs delivered or mailed within which Borrower must pay all sums secured by this Security instrument If Borrower fails to
pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further
notice or demand on Borrower.
18. Borrower's Right to Reinstate.if Borrower meets certain conditions,Borrower shalt have the right to have enforcement of this
Security instrument discontinued at any time prior to the earlier of:(a)5 days(or such other period as applicable taw may specify for
reinstatement)before sale of the Property pursuant to any power of sale contained in this Security Instrument;or(b)entry of a Judgment
enforcing this Security Instrument, Those conditions are that Borrower(a)pays Lender all sums which then would be due under this Security
instrument and the Note as iF no acceleration had occurred;(b)cures and default of any other covenants or agreements;(c)pays all expenses
incurred in enforcing this Security instrument,Including,but not limited to,reasonable attorney's fees;and(d)takes such action as Lender may '
reasonably require to assure that the lien of this Security Instrument;Lender's rights in the Property and Borrower's obligation to pay the sums.
secured by this Security instrument shall continue unchanged. Upon reinstatement by borrower,this Security Instrument'and the obligations
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oR 4974 PG 608 7/12/2016 16.D.7.
secured hereby shall remain fully effective as if no acceleration had occurred. However,this right to reinstate shall not apply In the case of
acceleration under paragraph 17.
Ie.Sale of Note;Change of Loan Servicer. The Note or a partial Interest In the Note(together with this Security Instrument)may
be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity(known as the"Loan Servicer')that
collects monthly payments due under the Nate and this Security Instrument, There also may be one or more changes of the Loan Servicer
unrelated to a sale of the Note. If there is a change of the Loan Servicer,Borrower will be given written notice of the change in accordance with
paragraph 14 and applicable law. The notice wit state the name and address of the new Loan Servicer end the address to which payments
should be made.The notice will also contain any other information required by applicable law.
20. Hazardous Substances. Borrower shall not cause or pemtit the presence,use,disposal,storage,or release of any Hazardous
Substances on or In the Property. Borrower shall not do,nor allow anyone Blas to do,anything affecting the Property that is in violation of any
Environmental Law, The preceding two sentences shall not apply to the presence,use,or storage on the Property of small quantities of •
Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property,
Borrower shall promptly give Lender written notice for any Investigation,claim,demand,lawsuit or other action by any governmental or
regulatory agency or private party involving the Property end any Hazardous Substance or Environmental Law of which Borrower has actual
knowledge. If Borrower learns,or is notified by any governmental or regulatory authority,that arty removal or other remediation of any
Hazardous Substance affecting the Property is necessary,Borrower shall promptly take all necessary remedial actions In accordance with
Environmental Law.
As used In this paragraph 20,"Hazardous Substances"are those substances defined as toxic or hazardous substances by Environmental Law
and the following substances: gasoline,kerosene,other flammable or toxic petroleum products,toxic pesticides and herbicides,volatile
solvents,materials containing asbestos or formaldehyde,and
radioactive materials.As used In this paragraph 20,"Environmental Lax"means federal laws and laws of the jurisdiction where the Property is
located that relate to health,safety or environmental protection.
21.Acceleration;Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant
or agreement in this Security Instrument(but not prior to acceleration under paragraph 17 unless applicable law provides otherwise).The
notice shall specify: (a)the default;(b)the action required to cure the default;(c)a date,not less than 30 days from the date the notice is given
to Borrower,by which 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 acceleration of the sums secured by this Security instrument,foreclosure by judicial proceeding end sale of the Property.The notice shall
further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a
default or any other defense of Borrower to acceleration and foreclosure. If the default Is not cured on or before the date specified In the notice,
Lender,at Its option,may require Immediate payment in full of all sums secured by this Security Instrument without further demand and may
foreclose this Security Instrument by judicial proceeding, Lender shall be entitled to collect all expenses incurred in pursuing the remedies
provided In this paragraph 21,Including,but not limited to,reasonable attorney's fees and costs of the title evidence.
22. Release. Upon payment of of sums secured by this Security Instrument,Lender shall release this Security Instrument,without
charge,to Borrower. Borrower shall pay any recordation costs.
23.Attorneys'Fees.As used In this Security Instrument and the Note,"attorneys'fees"shell Include any attorneys'fees awarded by
an appellate court
24. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security
Instrument,the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and
agreements of this Security Instrument as If the rider(s)were a part of this Security Instrument. (Check Applicable Box)
•
❑Adjustable Rate Rider 0 Rate improvement Rider ❑Condominium Rider
0 Graduated Payment Rider 0 1-4 Family Rider ❑Second Home Rider
El Balloon Rider ❑Biweekly Payment Rider ❑Planned Unit Development Rider
❑Other(s)(specify
SIGNING BELOW,Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any rider(s)executed
by Borrower and recorded with it.
Signed,sealed and delivered In the presence of:
•
Signature: /(/ Signature:
Borrower tab is Spinatto Co-Borrower
Address: 5161 32" Ave SW
Naples, Florida 34116 •
STATE OF FLORIDA
COUNTY OF COLLIER.
I hereby certify that, Isabella Spinatto ,personally appeared to me known to be the person(s)described in and
who executed the foregoing instrument and acknowledged before me that(He/she/they)executed the same for the purpose therein expressed.
WITNESS my hand and official seal In the County and State aforesaid this 93V-cly of X2,7:1 2013.
My Commission Expires: (C1 I
(Seal) 0411111
Nota ryPublic's Signature
,�= e!SC Y \ 1
\ THERESA STRAMEL Notary's Printed Name
MY COMMISSION pFF05so s
f EXPIRES October 19,2017
eortasa4 T5 FloridakotarySenicucom
SHIT'Filet): 12-025
SHIP Purchase Assistance Program
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OR 4974 PG 609 7/12/2016 16.D.7.
STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM
PROMISSORY NOTE
Borrower: Isabella Spinatto
5161 32"4 Ave SW Naples, Si 34116
(Property Address) (City? (State) (Zip)
1. BORROWER(S) PROMISE TO PAY: I/We promise to pay Twenty Thousand and 00/100 Dollars
($20,000.001 (this amount will be called "principal") to the order of Collier
County or to any other holder of this Note (the "Lender"), whose address is 3339 E.
Tamiami Trail, Naples, Florida 34112. I/We understand that the Lender may •
transfer the Promissory Note. The Lender or anyone who takes this Note by transfer
and who is entitled to receive payments under this Note will be called the "Note
Holder".
2. INTEREST: Interest on this Note shall be zero percent (08) per annum: except that
if I/We fail to pay this Note as required, the interest rate shall be twelve percent
(12%) per annum from the date when payment of this Note is due until I/We pay it in
full.
3. PAYMENTS; Payment in full is due upon sale of property within the fifteen year
deferred payment loan. If sold after the fifteen year term, no repayment is
required. As long as the borrower continues to own and occupy the assisted property
during the term of the mortgage, then the loan will not have to be repaid. My/Our
total payment shall be U.S. $20,000.00.
4. BORROWER'S RIGHT TO PREPAY: I/Ne have the right to make payments of principal at
any time before they are due. A payment of principal only is known as a
"prepayment". When I/We make a prepayment, I/we will tell the Note Holder in
writing that I/we am doing so.
I/We may make a full prepayment or partial prepayment charge. The Note Holder will
use all of my prepayments to reduce the amount of the principal that I owe under
this Note. If I/We make a partial prepayment, there will be no changes in the due
date or in the amount of my monthly payment unless the Note Holder agrees in writing
to those changes. If I/We make a partial prepayment, there will be no prepayment
penalty adhering to or associated with such prepayment
5. LOAN CHARGES: If a law, which applies to this loan and which sets maximum loan
charges, is finally interpreted so that the interest or other loan charges collected
or to be collected in connection with this loan exceed the permitted limits; then
(i) any such loan charges shall be reduced by the amount necessary to reduce the
charges to the permitted limit; and (ii) any sums already collected from me which
exceeded permitted limits will be refunded to me/us. The Note Holder may choose to
' make this refund by reducing the principal that I/Weowe under this Note or by
making a direct payment to me/us. If a refund reduces principal, the reduction will
be treated as a partial prepayment.
6. SUBORDINATION: Lender and Borrower acknowledge and agree that this Security
Instrument is subject and subordinate in all respects to the liens, terms, covenants
and conditions of the First Deed of Trust and to all advances heretofore made or
which may hereafter be made pursuant to the First Deed of Trust including all sums
advanced for the purpose of (a) protecting or further securing the lien of the First
Deed of Trust, curing defaults by the Borrower under the First Deed of Trust or for
any other purpose expressly permitted by the. First . Deed of Trust or (b?
constructing, renovating, repairing, furnishing, fixturing or equipping the
Property. The terms and provisions of the First Deed of Trust are paramount and
controlling, and they supersede any other terms and provisions hereof in conflict
therewith. In the event of a foreclosure or deed in lieu of foreclosure of the
First Deed of Trust, any provisions herein or any provisions in any other collateral
agreement restricting the use of the Propertyto low or moderate income households
or otherwise restricting the Borrower's ability to sell the Property shall have no
further force or effect on subsequent owners or purchasers of the Property. Any
person, including his successors or assigns (other than the Borrower or a related
entity of the Borrower), receiving title to the Property through a foreclosure or
deed in lieu offoreclosure of the First Deed of Trust shall receive title to the
Property free and clear from such restrictions. •
Further, if the Senior Lien Holder acquires title to the Property pursuant to a deed
in lieu of foreclosure, the lien of this Security Instrument shall automatically
terminate upon the Senior Lien Holder's acquisition of title, provided.that (i) the
Lender has been given written notice of a default under the First Deed of Trust and
(ii) the Lender shall not have- cured the default under the First Deed of Trust
within the 30-day period provided in such notice sent to the Lender.
7. BORROWER(S) FAILURE TO PAY AS REQUESTED:
(A) Default
If I/we do not pay the full amount as required in Section 3 above, I/we will be in
default. If I am in default, the Note Holder may bring about any actions not
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•
prohibited by applicable law and require me/us to pay the Note Holder's cost and
expenses as described in (B) below.
(B) Payment of Note Holder's Cost and Expenses
If the Note Holder takes such actions as described above, the Note Holder will have
the right to be paid back for all of its costs and expenses, including, but not
limited to, reasonable attorneys' fees.
8. GIVING OF NOTICES: Unless applicable law required a different method, any notice
that must be given to me/us under the Note will be given by delivering it or by
mailing it by first class mail to me at the Property Address on Page 1 or at a
different address if I/we give the Note Holder a notice of my/our different address.
Any notice that must be given to the Note Holder under this Note will be given by
mailing it by first class mail to the Note Holder at the address stated in Section
3(A) or at a different address if I/we have been given a notice of that different
address.
9. OBLIGATIONS OF PERSONS UNDER THIS NOTE: If more than one person signs this Note,
each person is fully and personally obligated to keep all of the promises made in
this Note, including the promise to pay the full amount owed. Any person who is a
guarantor, surety or endorser of this Note is also obligated to do these things.
Any person who takes over these obligations, inoluding the obligations of a
guarantor, surety or endorser of this Note, is also obligated to keep all of the
promises made in this Note. The Note Holder may enforce its rights under this Note
against each person individually or against all of us together. This means that any
one of us may be required to pay all of the amounts owed under this Note.
10. WAIVERS: I and any other person who has obligations under this Note waive the
rights of presentment and notice of dishonor. "Presentment" means the right to
require the Note Holder to demand payment of amounts due. "Notice of Dishonor"
means the right to require the Note Holder to give notice to other persons that
amounts due have not been paid.
11. UNIFORM SECURED NOTE: This Note is a uniform instrument with limited variations in
some jurisdictions. In addition to the protection given to the Note Holder under
this Note, a Mortgage, Deed of Trust or Security Deed (the "Security Instrument"),
dated the same date as this Note, protects the Note Holder from possible losses
which might result if I/we do not keep the promises which i/we make in this Note.
That Security Instrument describes how and under what conditions I/we may be
required to make immediate payment in full of all amounts I/we owe under this Note.
Some of those conditions are described as follows:
Transfer of the Property or a Beneficial Interest in Borrower. If all or any part
of the property or any interest in it is sold or transferred (or if a beneficial
interest in Borrower is sold or transferred And Borrower is not a natural person)
without Lender's prior written consent, Lender may, at its option, require immediate
payment in full or all sums secured by this Security Instrument. However, this
option shall not be exercised by Lender if exercise is prohibited by federal law as
of the date of this Security Instrument.
If Lender exercises this option, Lender shall give Borrower notice of acceleration.
The notice shall provide a period of not less than thirty 130) days from the date
the notice is delivered or mailed, within which Borrower must pay all sums secured
by this Security Instrument. If Borrower(s) fail to pay these sums prior to the
expiration of this period, Lender may invoke any remedies permitted by this Security
Instrument without further notice or demand on Borrower.
Notwithstanding the above, the Lender's rights to collect and apply the insurance
proceeds hereunder shall be subject and subordinate to the rights of the Senior Lien
Holder to collect and apply such proceeds in accordance with the First Deed of
Trust.
12. This note is governed and construed in accordance with the Laws of the State of
Florida.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
/y/�//} 1071(
Borrows Isabella Spinatto Da
Co-Borrower Date
RETURN TO: Collier County Housing, Human and Veteran Services Department
SHIP PURCHASE ASSISTANCE PROGRAM
3339 5. Tamiami Trail, Building H, Suite 211
Naples, Florida 34112
SHIP File*: 12-025
Revised 10/2012
2
Packet Page-1088-
RKPE9003 USD —Z/WENDY
Layout Z/WENDY RFPE?D03 Nancy-GL detail
Object WHS 33429 SY.TP FY15 iS
Cost Element 369600 To 369600 GRANT PROGRAM INCOME
Posting Date 05/31/2016 To 06/14/2016
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791 33429.1 369600 06/033/2016 20,000.00- SHIP LOA10 PAYOFF ISA9ELLA SPINATTO FILE.512-025 100011551 CHS GRANT PROGRAM INCOME
• 369600 20,000.00- GRANT PROGRAM INCOME
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