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Agenda 03/28/2017 Item #16D 803/28/2017 EXECUTIVE SUMMARY Recommendation to approve four mortgage satisfactions for the State Housing Initiatives Partnership loan program in the combined amount of $46,740. OBJECTIVE: To support the affordability of housing in Collier County through State Housing Initiatives Partnership (SHIP) down payment, emergency repair, and 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, and rehabilitation assistance to homeowners for rehabilitation to their homesteaded property. As a condition of the award, the homeowner must repay the assistance provided upon sale, refinance or loss of homestead exemption. The following table provides details regarding the associated mortgages that have been repaid in full. S atisfactions of mortgages are therefore required. In all instances, the homes were sold except for Courte, who refinanced the home. File # Name Security Instrument Mortgage Amount Payoff Amount Public Record 10-030 Norlis Abella Crespo SHIP DPCC Mortgage $4,240.00 $4,240.00 OR4739PG204 04-114 Lynette Pacheco, Edmundo Pacheco and Elsa Antonsanti SHIP DPCC Mortgage $5,000.00 $4,880.55* OR3561PG3706 08-045 Raymond E. Courte and Rosario Courte SHIP DPCC Mortgage $30,000.00 $29,805.29** OR4373PG3114 03-139 Ariel Rivero and Anuday Veitia SHIP DPCC Mortgage $7,500.00 $6,733.10*** OR3226PG0428 TOTAL $46,740.00 $45,658.94 * On May 11, 2004, OR Book 3561 Page 3706 a mortgage was recorded to Lynette Pacheco, Edmundo Pacheco and Elsa Antonsanti in the amount of $5,000.00 for Down Payment and Closing Cost (DPCC) and Rehabilitation. The homeowner was awarded $2,500.00 for DPCC and $2,500.00 of rehabilitation funds. The homeowner received $2,500.00 at closing as DPCC assistance. The homeowner was awarded $2,500.00 for rehabilitation funds but only used $2,380.55. Therefore, the homeowner is only required to repay $4,880.55 for DPCC and rehabilitation. ** On June 27, 2008, OR Book 4373 Page 3114 a mortgage was recorded to Raymond E. Courte and Rosario Courte in the amount of $30,000.00 for Down Payment and Closing Cost (DPCC) and Rehabilitation. The homeowner was awarded $27,500.00 for DPCC and $2,500.00 of rehabilitation funds. The homeowner received $27,500.00 at closing as DPCC assistance. The homeowner was awarded $2,500.00 for rehabilitation funds but only used $2,305.29. Therefore, the homeowner is only required to repay $29,805.29 for DPCC and rehabilitation. 03/28/2017 *** On February 25, 2003, OR Book 3226 Page 0428 a mortgage was recorded to Ariel Rivero and Anuday Veitia in the amount of $7,500.00 for Down Payment and Closing Cost (DPCC) and Rehabilitation. The homeowner was awarded $5,000.00 for DPCC and $2,500.00 of rehabilitation funds. The homeowner received $5,000.00 at closing as DPCC assistance. The homeowner was awarded $2,500.00 for rehabilitation funds but only used $1,733.10. Therefore, the homeowner is only required to repay $6,733.10 for DPCC and rehabilitation. Approval of this item will authorize the Chairman to sign the attached satisfactions of mortgage, and the executed documents shall be recorded in the Public Records of Collier County, Florida. FISCAL IMPACT: The repaid amount of $45,658.94 satisfies the mortgage amount due to the recapture provision as noted above and emergency rehabilitation funds expended. These repayments are considered program income and have been deposited in SHIP Grant Fund 791 , Project 33467, and may be reused for eligible SHIP activities. The $10 recording fee will be paid by each of the borrowers. GROWTH MANAGEMENT IMPACT: There is no growth management impact. LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority vote for Board approval.-JAB RECOMMENDATION: To approve and authorize the Chairman to sign four mortgage satisfactions for owner-occupied affordable housing units for which repayment in full has been provided to Collier County. Prepared By: Elizabeth Hernandez, SHIP Grant Support Specialist, Community & Human Services Division ATTACHMENT(S) 1. Satisfaction of Mortgage (4) (PDF) 2. Mortgages (4) (PDF) 3. SAP Backup 03.28.17 (PDF) 03/28/2017 COLLIER COUNTY Board of County Commissioners Item Number: 16.D.8 Doc ID: 2807 Item Summary: Recommendation to approve four mortgage satisfactions for the State Housing Initiatives Partnership loan program in the combined amount of $46,740. Meeting Date: 03/28/2017 Prepared by: Title: – Community & Human Services Name: Elizabeth Hernandez 02/27/2017 3:00 PM Submitted by: Title: Division Director - Cmnty & Human Svc – Public Services Department Name: Kimberley Grant 02/27/2017 3:00 PM Approved By: Review: Community & Human Services Kristi Sonntag Additional Reviewer Completed 02/28/2017 3:47 PM Community & Human Services Leslie Davis Additional Reviewer Completed 03/01/2017 11:10 AM Public Services Department Kimberley Grant Additional Reviewer Completed 03/03/2017 5:35 PM Public Services Department Joshua Hammond Additional Reviewer Completed 03/06/2017 4:15 PM Community & Human Services Maggie Lopez Additional Reviewer Completed 03/07/2017 6:39 PM Public Services Department Hailey Margarita Alonso Additional Reviewer Skipped 03/08/2017 9:38 AM Public Services Department Hailey Margarita Alonso Level 1 Division Reviewer Completed 03/08/2017 9:39 AM County Attorney's Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 03/08/2017 2:49 PM Grants Erica Robinson Level 2 Grants Review Completed 03/08/2017 4:00 PM Public Services Department Steve Carnell Level 2 Division Administrator Review Completed 03/09/2017 4:44 PM Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 03/09/2017 5:09 PM Budget and Management Office Ed Finn Additional Reviewer Completed 03/10/2017 3:53 PM County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 03/15/2017 9:10 AM Grants Therese Stanley Additional Reviewer Completed 03/17/2017 10:24 AM County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 03/20/2017 9:35 PM Board of County Commissioners MaryJo Brock Meeting Pending 03/28/2017 9:00 AM Prepared by: Elizabeth Hernandez Collier County Community and Human Services 3339 E, Tamiami Trail Naples, FL 34112 THIS. SPACE FOR RECORDING SATISFACTION OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is 3299 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Norlis Abella Crespo, a single man to COLLIER COUNTY, dated 10/28/2011 and recorded on 11/22/2011 in Official Records Book 4739 Page 204 of the Public Records of Collier County, Florida, securing a principal sum of $4,240.00 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 - , 2017, Agenda Item Number ATTEST: DWIGHT E. BROCK, CLERK DEPUTY CLERK Approval for form and legality: Jennifer A. Belpedio a -j V, Assistant County Attorney � a \ BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA BY: Penny Taylor, Chairman PO 4 Prepared by: Elizabeth Hernandez Collier County Community and Human Services - 3339 E. Tamiami Trail Naples, FL 34112 THIS SPACE FOR RECORDING SATISFACTION OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is 3299 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Lynnette Pacheco, A Single Person and Edmundo Pacheco with the joinder of his wife, Elsa Antonsanti to COLLIER COUNTY, dated 05/07/2004 and recorded on 05/11/2004 in Official Records Book 3561 Page 3706 of the Public Records of Collier County, Florida, securing a principal sum of $5 000.00 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 - 2017, Agenda Item Number ATTEST: DWIGHT E. BROCK, CLERK , DEPUTY CLERK Approval for form and legality: BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA By: Penny Taylor, Chairman Jennifer A.unty t Assistant County Attorney GAO Prepared by: Elizabeth Hernandez Collier County Community and Human Services 3339 E. Tamlami Trail Naples, FL 34112 THIS SPACE FOR RECORDING SATISFACTION OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is 3299 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Raymond E. Courte and Rosario Courte, a married couple to COLLIER COUNTY, dated 05/23/2008 and recorded on 06/27/2008 in Official Records Book 4373 Page 3114 of the Public Records of Collier County, Florida, securing a principal sum of $30,000.00 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 - 2017, Agenda Item Number ATTEST: DWIGHT E. BROCK, CLERK By: , DEPUTY CLERK Approval for form and legality: Jennifer A. Belpedio Assistant County Attorney BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA By: Penny Taylor, Chairman a Prepared by: Elizabeth Hernandez Collier County Community and Human Services 3339 E. Tamiami Trail Naples, FL 34112 THIS SPACE FOR RECORDING SATISFACTION OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is 3299 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Ariel Rivero and Anuday Veitia, Husband and Wife to COLLIER COUNTY, dated 02/14/2003 and recorded on 02/25/2003 in Official Records Book 3226 Page 0428 of the Public Records of Collier County, Florida, securing a principal sum of $7.500.00 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 - 2017, Agenda Item Number ATTEST: DWIGHT E. BROCK, CLERK By: , DEPUTY CLERK Approval for form and legality: Jennifer A. Belpedio Assistant County Attorney BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA By: Penny Taylor, Chairman 0 INSTR 4629651 OR 4739 PG 204 RECORDED 11/22/2011 2:12 PN PAGES 3 DWIGHT E. BROCK, CLERK OF THE CIRCUIT COURT, COLLIER COUNTY FLORIDA DOC@.35 $15.05 REC $27.00 OBLD $4,240.00 STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM SECOND MORTGAGE THIS SECOND MORTGAGE ('Security Instrument") isgivennn 216'dayof DMO, .2011. TheSawnd Modgagoris: Norlis Acella Creeps, a single rasa ('Borrower). This Security Instrument is given to Collier Conicty VLender), which is organized and existing under the laws cribs United States ofAmeriea, and whose address u 3339 E. Temisedi Trail, Naolea, Florida 34112 . Bonovarmam LoWerihesumof Four Thousand Two Hundzed Yorty earl 00/100 D.11.0 (S4,240.00) ThIs debt is evidenced by Bosawela Note dated the same data as this Becurrty Instmmem ("Second M.,aa.I which provides for monthly payments, Mh the bit debt, if not paid sad!., it,, and payable an sale of ezonarty. re,1nerine — I... s •••---••-••-•�•-••••...•_•••...,�..u...u.,,.:au,.u(,m- u,a Peyme.eor ai curersums, wire intemetaavanced underpamgmph 7lopoeted the sewdty of the Sewdh Inslrement; and (c) the performance of BOnowees covenants and agreements under this Secunty instrument and the Note. Forthls purpose, Borrower dome hereby second mortgage, grant and convey to Lender the follower, described property located in Collier County,Plodda. As more particularly described as Golden Gale Estates Unit 68 E 75ft of W 150ft of TR92, of the Public Records of Collier County, Florida and which has the address of ('Property Atldress'): 3675 27`s Ave NE Napl Fl id 34120 (Address) (city) (Slate) (Zip) TOGETHER WIT( all the Improvements now or heriar erere aed on the property, and all easements, rights, appurtenances, rents, mystics, manned, oil and gas rights and profits, water tights and�lodwsda fixtures now or hereafter a part of the property. All replacements and additions shall also be revered by the Security Instru ,811 legty Volumed to in this Severity Instrument as the 'Propery. BORROWER COVENANTS that However Is y at conveyed and has the right to mortgage, grant and convey the Property and that the Property is unem „e pt for encum �%( rd. Bonowerwarenls and will defend generally the tigetothe Pmpertyagalnst all claims and de at to any encum brance �kdd THIS SECURITYINSTRUMENIcoe nes /mmcovenantsfornationaluse ndnamniforrnwvenantswflhllmitedvadationby jurisdiction to constitute a uniform secant' ins me n as UNIFORM COVENANTS. Ba.owe and antl niaMagreea follows: 1. Paymentof Principal and Into at To ant 1 e she promptly pay when due the principal of and Interest an the debt evidenced by Me Note. thereon. 1. Taxes. The Modgagorwifl pay all t s, see mels s r is r 1 is pd tolbeacaualofanypenalliesortnterest The Mortgagor shall pay or cause Vie•{iia ybe e ) all taxes and governmental charges of any land whatsoever which may at any time be Is ufl assessed or levied age' ns rvdm spe Property, (2) all utility and other charges, including alarges", Incurred or the dpeetion, mainlenan e,o pkeep and impmv¢menl of the Property, and (3)all assessments or other govemmenlal chs lmaylawfully be paid] II en pV¢r periodofllb years, the Morigagorshae obligated anderlhe Mortgage to pay or cause) my such installments a o be paid dudrg the term of Ue Mortgage, and shall, promptly after thepaymentof any of the for 'Qin,g,� herdic Modgageeevide 1•JT. payment. 3. Application of Payments. Unless ap c2,bJ mvidas otha app a ants received by Lender shall be applied; first, to interest due; and, to principal due; and [ask to any late ptE 4. Charges; U.n., Borrower shall pay all lase , r an hs' as and impositions attributable to the Pmpedy which may again priority over this Security lnshume,R and leasehold paym s v ran ants, irony. Somowershall promptly furnish to Lentler all notices of amounts to be paid under this paragraph, and all receipts evitlendep the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower. (a) agrees in wifing to the payment of the obligation secured by the Iden in a manner acceptable to Lender. (b) contests In good faith the lien by, or defends against enforcement at the Ile. in, legal proceedings which in the Lenders opinion operate to prevent the enforcement of me Iden; or (c) secures from Me 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 is subjed to a Iden which may attain priority over the Security Instrument, Lender may give Bonewer a notice Idenflyng the lien. Borrower shag satisfy the lien or take one or more of me actions set forth above within 10 days of the giving of notice. S. HaxzrdorPropertytnsuence. Bonawer shall heap the Improvements now existing or hereafter crewed on the Property Insured against loss by fire, haaaras Induced within the tam "extended coverage and any other harards, including floods or flooding, for watch Lender requires Insurance. This Insurance shall be maintained in the amounts and for the periods that Lender requires. The Insurancecarder providing the insurance shall be undoes by Believer subject to Lenders approval which shall not be unreasonably withheld. If Bonower fails to maintain coverage described above, Lender may, at Leaders option, obtain coverage to protect Lenders rights in the Property in accordance with paegaph 7. Atoll times that the Note is outstanding, the Mortgagor shall maintain insurance with respectto the Promises against such risks and for such amounts as are customadly insured against and pay, as the some became due and payable, all premiums in reaped thereto,. including, but not limited to, ail -risk insurance protecting the interests of the Mortgagor and Mortgagee against loss or damage to the Premises by ire, lightning, and other casualties customadly insured against (including boiler explosion, if appropriate), with a uniform standard extended coverage endorsement. including debris removal coverage. Such insurance at all times to be in an amount not less than the full replacement cast of the Premises, exclusive of feelings and foundations. All Issuance polities and renewals shall be acceptable to Lender and shall Include a standard mortgage clause. Lender shall have the right to hold the pollutes 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. Under may make proof ofloss fnot made Promptly by Bonower. Unless Lentler and Borrower otherwise agree in writing, ]nsvence proce¢tls shall be applied to restoration or repair of the Property damaged. iflha resioetion or repair is economically feasible antl Lenders severity is not lessened. If the restdetion or repair Is not economically feasible or Lenders security would be lessened, the insurance proceeds shall be applied to the sums secured by the Security Insbumeni, whether or not man due• with any excess paid to Borrower. It Borrower abandons the Property, or does not answer within 30 days a added tram Lendmthal the insurance tamer has offered to settle a claim, men Lander may collect the insurance proceeds. Leadermay use the pmteeds to repair or restore the Property orto pay sums secured by this Security Instrument, whether or not then due. The 30day harbor Wit begin when the notice ismalled. Unless Lender and Borrower otherwise agree in writing, any application ofproceeds to principal shall not extend or postpone the due dale of the monthly payments Taloned to in pmagmph 1 or change the amount of the payments. If Under paragraph 21 the Property is acquired by Under. Bonowers Tight 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 seared by this Security Instrument Immediately prior to the acquisition. 6. Occupancy, Preservation, Maintenance and Prom.flon of the Property; Borrowers Loan Application, Unsuitable. Bormwershalt occupy astonish, and use the Property as Borrowers principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Bonowers principal resdence, for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably Withheld. of unless extenuating circumstances exist which am beyond Bonwases control. Bdrmcer shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or Proceeding, whether&it or criminal, is begun that In Lenders Aced faith GR 4739 PG 205 judgment could result in forfeiture of the Prope ty or otherwise materially Impair Interest. Bonawermay are such a default and reinstate, as provided in pamgn with a coling that, in Lenders good faith determination, precludes forfeiture of W Impairment of the lien created by this Security Instrument or Lenders security In loan application process, gave maledaily false or Inaccurate Information or state Information) In connection with the loan evidenced by the Note, including, but no of the Property as a principal residence. If this SecurityInstrument Is on a lease If Scansion acquires fee title to the Property, the leasehold and the fee We shall 7. Proterdamof Lenders Rightelnthe Property. If Borrowerfailel totender(orfalied Instrument or Lenders security proceeding to be dismissed adv or other material of payment, these amounts shall bear interest from the date of disbursement at Note rale and shall be payable, vast interest, upon nonce from Lender to Borrower requesting payment S. Mortgage Insurance. If Lender acquired mortgage insurance as a condition of making the loan secured by this Security Instrument, Borower shall pay the premiums required to maintain the mortgage insurance in agent- If. for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Bonowmr shall pay the premiums required to obtain coverage 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 effect, from an eilemnte mortgage Ireurerapproved by tender. If substar Tally equivalent mortgage Insurance coverage Is not available, Borrower shall pay to Lender each month a sum equal to onedwelM of the yearly mortgage Insurance premium being paid by Commissar when the insurance coverage lapsed or ceased to be In effect. Lender will accept, use and retain these payments as a loss reserve In lieu of mortgage Insurance. Loss reserve payments may no longer be required. at the option of Lender, if mortgage insurance coverage (in me amount and forge period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premium's required to maintain mortgage insurance in effect, or to provide a loss reserve, unlit the regulremenl for mortgage Winnow ends in accoNance 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. fender shall give Sommer notice at the time of or prior to an Inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award cur chum for damages, direct or consequential, in connection with any condemnation or other laking of any pad of the Property, or for conveyance in lieu of condemnation, am bereby assigned and shall be paid to Lender. In the to or of this Severity Instrument orthe Note without that Bonin 13. Loan Charges. Ifthelaansearedbythis law is finally inlerfreted so that the interest or other loan limits, then: (a) any such loan charge shall be reduced b already collected Wm Borovrer which exceeded pelmill redudea the principal owed under the Note or by making Gass mail unless applicable I. Samovar designates by natio 15. GlVmning Lav Me Propend is located. In thr conflict shall not aged agent an. end the provisions of Ibis 19. Barrowars Co 17. Tmnater of IN transferred (or It a biomedical 1 consent, Lender may. at its of not be exercised by Lender if If Lender exercised Inc antro, Pay to notice asl of Sonower shall not operate to ined to commerce proceedings 'the sums second by this Security My forbearance by Lender in its and agreements of this Security, this Security 1 Borrowers interest lecudty Instrument, i regard to the terms Smartly Instrument Is subject to a law which sets maximum loan charges, and that charges collected or to be collected in connection with the loan exceed the pennmed y the amount necessary to reduce the charge to the permitted limit; and (b) any sums ed limits vrillbe refunded to Borrower. tender may choose to make this refund by a direct payment to Borrower. If a refund reduces, principal, the reduction will be far In this Security Inshumenlshaii be given method. The notice shall be directed to the %InsWment or the Note conflicts with applicable law, such Which can be given effect without the conflfding provision. To as sevambla. of the Note and of Security Instrument. If all or any pad of the Property or any Interest in it is sold or xver is nota natural person) without Ler. d.rs prior w rear secured by this Security instrument However, Ibis option shall off. of accelerathm. The notice bnmver must pay all sums sea may Invoke any remedies permit Won is, BarroweYs Rlghtlat Reinstate. If Borrower sister meets certainconditions,hConniver erperi d have the right to have enforcement of this Security Instrument before sale ai es at any time priart tthe earlier af: (a) 5 days ined int other period st umentb r law may specify far reinstatement) ecusaleru tie Property pursuant to anyatBrofsalecontained in itisllsums InsWmenkor(b)entry under Ibis e enforcing this Security Instrument. Thoseonhad osarethat)crwrec(a)pays Lender allsumsenwhich thenwouldens;be duea)pays an Seamy Instrument and the thole as If no acceleration had occurred: (bj a... ro. default of any other moVsf e ; an or agreements; ac pays an aspartame inartedin enforcing this Security alien of inducting, bid not limited to. reasonable the Property end(d)takes such action asLenderthe a = reasonably require to assure gat its Ilan of this Security Instrument, Lenders rights In the Property and Sommers obligation to pay the sums secured he this secure Instrument shall as unchanged. OpenrelntedHow by Borrower. thisrig, tis 5ecunt,instrumentand the abl as onsf acceleration hereby shall remain fully effective as if no acceleration had accounted However, this fight to reinstate shall not apply in the ase of acceleration Under paragraph 17. 19. Sale oftiNote;Changeor Loan Servicer. The Nola ora penial interest intie Note (together with SecumyInslmmenl)may be sold one th more limes Without prior notice to Bonowec ur sale may result in a change in tie entity (known as rhe "Loan Servicer') that unreclsmonthlypayments due under themthe Note and tits Security Instrument. There also may be one notice, of siage Loan Servicer unrelated loasala of the thole. ifthereuachange of the loan Servicer, eortowervntl be, given written notice of tie change in accordance with ex: OR 4739 PG 206 c*' paragraph 14 arm appiimble law. The nodes wilt state the name and address of the new Loan Servicer and the address to which payments should be made. The mom will also contain any other Information required by applicable law. 20. Hinerdous Substances. Borrowershall not muse or permit the presance,me, disposal, storage, or release of any Hazardous Substances on orm the Property. Borewershallnotdo, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sameness 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 Leader written norm for any investigation, claim, demand, Iawsug or other action by any governmental or regulatory agency or private party involving the Pmpetly and any Hazanloes Substance or Environmental Law of which Borre er has actual knowledge. If Borrower teams, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance shooting the Property is necessary, Borrower shall promptly lake all necessary remedial actions in accordanm silk Enyimnmentm Law. As used in this paragraph 20, "Hazemous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and Ne following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials motalning asbestos or formaldehyde, and mRoactive materials. As used in this paragraph 20, -Environmental LaW means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or a iviasn rmidai protection. 21. Acceleration: Remedies. Lender shall give notice to Narrower prior to acceleration following Borrowers breach of any covenant or agreement in this Security Instrument Rue 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 defaufl; (c) a date, not less than 30 days tram 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 byjudiciol promeding and sale of the Property. The notim shall further inform Harasser 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 Bormvarm acceleration and forecasure. ifthe default is not erred on or before the date specified in the notice, Lender, at its option, may require immediate payment In full of all sums assured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall he entitled to collect all expenses Incurred in pursuing the remedies provided in this paragraph 21, Including, but not limped to, reasonable attorneys fees and mels of the tide evidence. 22. Release. Upon payment of all sums secured by this Security InsWment, Lender shall release (his Security Instrument, without charge, to Bor vete. Renewer shall pay any remmation casts. 23. Abrams" Fem. As used in this Security Instrument and the Note, "aflameys' fres' shad include any atmmeye' fees awarded by an appellate court. 24. Riders to Nis Security Instrument If ane or more riders am executed by Borrower and recorded together with this Security Instrument, the covenants oral agreements of each such rider shall be inmrporeled into and shall amend and supplement the covenants and agreements ofthis Security Instrument as if the dder(s) wereap-e-CCrt,�o i ewlm�y,.Instrument. (Check Applicable Box) ❑ Adjustobk Rate Rider ❑Rate lmpro endr' ��(� CoMominlum Rider ❑ Gmduated Payment Rider E] 14 Ford yJ nd Home Rider ❑ Balloon Rider ❑ BNree y =rad Rider Pla Unit Development Rider ❑ Other(s) (specify SIGNING BELOW, Borowefacce is and as �� arm s,a�d fM it S d Instrument and in an arterialexecuted Si Borrower and recomed with H. p ty Y SigneQ sealed and tlelivergQ in thep(esen Signatsm:�� \11b C1T / --- Address: 3675 27th Ava RE Naples, Flozida 34120 STATE OF RORID COUNT(OFCOLLIER * AK I hereby codify that on this day, Neri#e-9be33e-9aeepebe(om mo, an officer duly authorized in the slate aforesaid and in the county aforesaid to take acknowledgements, personally appeared to me known to be the person(s) described In and who extemad the foregoing Instrument and acknowledged before me that (Hal shef [hey) executed the same for the purpose therein expressed. �xo,iH WITNESS my hand and ofllG`al seat in the County end State aforesaid this O� O day of \ _f 2011. My Commission Expires*,D \x-S\xs 1 ) a Notary Public's Signature t (Seat) .+••�,• MICHELLE AI ESTES NotaNa Printed Name Commission MEE43499 My Commission Expires Signer's identity verified in the following manner: February 15, 2015 rodttedldentification or ❑PeassaltyKnown mars Ucenne SHIP File#: 10-30 other. Prepared by: Collier Cowry Housing, Hmnw & Veterans Department 3339 E. Tamiami Trail, Bldg H, Suite 211 Naples, FL 34112 3398258 OR: 3561 PG: 3106 1110111119 16 OFFICIAL 111011113 of C01111R COBm, /L 05/11/2004 at 03:41PK DRIGRT 1. BROC1, CLIR SECOMD MORTGAGE 0110 5000.01 0811 5000.00 RIC OI 15.00 DOC -.35 11.50 Beta: AIDUCM IIRITA01 TITW 9696 BOIITA 81ACB N 1209 THIS SECOND MORTGAGE ('Security Instrument-) is givenon April , 2004 The 60117 L 34135 6502 Second Mortgagor is: Lynette Pacheco, A Single Person and Edmundo Pacheco with the joinder ('Borrower'), This Security Instrument is given to Collier couaty of his wife, Elsa Antonsanti,('Lender'), which is organized and existing under the laws of the United States of America, and whose address Is 3800 North Horseshoe Drive, NaPles, Florida 34104 . Borrower owes Lender the sum of Five Thoasaad and No/100the Dollars (U.S. $ 5, 000.00 I. This debt is evidenced by Bonowers Note dated the same date as this Security Instrument ('Second Mortgage'), which provldea for monthly payments, with the lull debt, if not pall earlier, due and payable on_sale of Property refinance, 1029 of h= stead axe»tion . This Security Instrument secures to Lender. (a) the repayment of the debt evidenced by the Note, wfth invest, and all renewals, extensions and modifications; (b) the payment of all other sums, with Interest advanced under paragraph 7 to protect the security of the Security Instrument; and (c) the performance of Borrowers covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby second mortgage, grant and convey to Lender the following described property located in Collier County, Florida. As more particularty described as Unit 3009, Naples Winterpork VI, Collier County, Florida and which has the address of: ('Property Address'): 6110 Looking Glass sans Ri Naples Florida 34112 TOGETHER WITH all the improvements 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 and all fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by the Security Instrument. All 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, exgspl-forroneumbLances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, suAjeyyRR rar�ci tf�rpn�es of record. THIS SECURITY INSTRUMENT combines unto Ap antsiorn�('t0rf@itlys@ rid non-uniform covenants with limited variation by jurisdiction to constitute a uniform security hed a an g al property, UNIFORM COVENANTS. Borrower and }.er(}fyr venant and agree as foild I. Payment of Principal and Interest; re eutan Lata Charges. For wen s all promptly pay when due the principal of and Interest on the debt evidenced by the Note. 2. Teres. The Mortgagor will pay all axes assessme' ever rents water ra as thereon. p -or to the accrual of any penalties or interest The Mortgagor shall pay or cause to tit a e s a y rr e� us (A)( ) all taxes and governmental charges of any kind whatsoever which may al any time be la ally se sed r via a 1n }'o wit as 1 th Property, (2) all utility and other charges, Including'seMce Charges', incurred or Impos f t pe� yn, girt dddddd4 a 8 , usec p pkeep and improvement of the Property, and (3) all assessments or other govemmenlal cite s+l at may lawfu y be pald "stall ants s es period of years, the Mortgagor shall be obligated under the Mortgage to pay or cause t (� itl only such installments ��99,,aare equj he paid during the tern of the Menage, and shell, promptly after the payment of any of lite to @ , forward to Mortgegee'§y}da a (( p payment. 3. Application of Payments. Unless a i a @law provides otherwis44 alt y�ng s received by Lander shell ba applled; find, to interest due; and, to principal due; and last, to any I c�aTgps due antler the Nate. 4. Chargee; Liens. Borrower shall pay all t yy77 assments, cue ,�fYn`as�" impositions atlribmable to the Property which may attain poorly over this Security Instmment, and leasehol yg�pP—§F5"ouptr� (nJny. Borrower shall promptly lumish to Lender all notices of amounts to be paid under this paragraph, and all re ei 9 BgldBmcln he payments. Borrower shall promptly discharge any Ilan which has priority over this Security Instmment unless Borrower: (a) agrees in writing to the payment of Iha obligation secured by the Ilan in a manner acceptable to Lender, (b) contests in good faith the lien by, or defends against i enforcement of the lien in, legal proceedings which in the Lenders opinion operate to prevent the entorcemenl of the Ilan; or (c) secures from the holder a the lien an jet to alien satisfactory to Lender subodineling the Ilan to this Security Insimmenl. II lender determines that any pad of the Property is subject to lien which may attain priority over Iha Security Instmment, Lander may give gorowar .notice identifying the lien. Borrower shall satisfy the Ilan or take one or more of the actions set north above within 10 days of the giving of notice. S. Herard 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 Lender requires Insurance. This Insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance tamer providing the insurance shall be chosen by Borrower subject to Lenders approval which shall not be unreasonably withheld. If Borrower falls to maintain coverage described above, Lender may, at Lenders 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 Promisee 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 , ail -risk Insurance protecting the Interests of the Mortgagor and Mortgagee against loss or damage to the Premises by fire, lightning, and other casualties customarily insured against (including boiler explosion, if appropriate), with a uniform standard extended coverage endorsement, including debris removal coverage. Such insurance at all tunes to be in an amount not less than the full replacement cost of the Premises, exclusive of footings and foundations, All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. 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 carder and Lender. Lender may make proof of loss if not made promptly by Borrower.tl Unless Lender and Borrower otherwise agree In writing, Insurance proceeds shall be applied to restoration or repair of the Properly W J damaged, it the restoration or repair is economically feasible and Lenders security is not lessened, It the restoration or repair is not economically feasible or Lenders security would be lessened, the Insurance proceeds shall be applied to the sums secured by the Security p Instrument, whether or not than due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 dayt, a notice from Lender that the Insurance carder has offered to settle a claim, then Lender may collect the Insurance proceeds. Lender may usq—, the proceeds to repair or rasters the Property or to pay sums secured by this Security Instmmonl, whether or not then due. The 30 -day period a o y will begin when the notice is mailed. Unless Ly payment der and sere ed orrower of a paragraph 7 owchng, any the application of f proceeds to principal shall not (r m w Z extend or postpone the due date of the month) 21 the Pro payments. the If under prior to X ,r F —¢ Property is acquired by Lender, Borrowers right to any secured b policies and proceeds resulting from damage h the Property prior to 2 C _ a the acquisition shall pass to Lender to the extent of the sums secured by This Security Instrument Immediately prior to the acquisition. Z 2 � N 6. Ocoupencg Preservation, Maintenance and Protection of the Property; Borrower's Loan Application, Leaseholds. Borrower shall <C p occupy, establish, and use the Property as Borrowers principal residence within sixty days after the execution of this Security Instrument and U to t: shall continue to occupy the Property as Borrowers principal residence for at least one year after the date of occupancy, unless Lender Q g = otherwise agrees in wn ing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which am beyond � R Borrowers control. Borrower shall not destroy, damage or Impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be In default if any forfeiture action or proceeding, whether ci ' r party t, d or in Lenders good faith OR; 3561 PG; 3101 judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lenders 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 Lenders good faith determination, precludes forfeiture of the Borrowers interest In the Property or other material Impairment of the lien created by this Security Instrument or Lenders security Interest. Borrower shall also be In default tt 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, including, but not limited to, representations concerning Borrowers 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. II Borrower acquires fare file 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 falls to perform the covenants and agreements contained In this Security Instmment, or there is a legal proceeding that may significantly affect Lenders 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 Lenders dghts in the Property. Lenders actions may include paying any sums secured by a lien which has priority over this Security Instrument, appending 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 shall become additional debt of Borrower secured by this Secudly 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 shall be payable, with interest, upon notice Inner Lender to Borrower requesting payment. B. Mortgage Insurence. II Lender required mortgage Insurance as a condition of making the loan secured by this Security Instrument, Borrower shell pay the premiums required to meiniein the mortgage insurance in effect. If, for any reason, the mortgage insurance coverege requlrad by Lender lapses or ceases to be In ettec6 Borrower shall pay the premiums required to obtain coverage subslenlially equivalent to the mortgage Insurance pro ously in effect, ate cost substenlially equivalent to the cost to Borrower of the mortgage insurence previousiyln eget!, tram an eitemele mortgage Insurer approved by Lender. it subsfanlielly equivalent mongaga insurence coverage is not available, Borrower shall pay to Lender each month a sum equal to onetwellth o(lhe yearly mongaga Insurance premium being pall by Borrower When the Insurance coverage lepsod or Ceased to be in effect. Lender will accept, use end retain theae payments as a loss reserve in lieu of mongaga insurance. Loss reserve payments may no longer be required, at the option of Lender, If mongaga insurance coverage (in the amount and for the period That Lender requires) provided by en Insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in affect, or to provide a loss reserve, until Ina requirement for mortgage ineurence ands in eccorda_a with any wdran agreement between Borrower and lender or applicable law. 9. Inspection. Lender or its agent may make reasonable snide- upon and Inspections of the Property. Lender shag give Borrower notice at the time of or prior to an inspectlon specifying reasonable cause for the inspecaan. 10. Condemnation. The proceeds of any award relalmforfa mages, dlract or consequential, in connacllon with any condemnation or other takinof any part of the Property, or for conveyance In lieu of Condemnation, are hereby assigned nd shall be paid to Lender. In the event of a total taking of the Property, 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 lair market value of the Property Immediately before the laking is equal to or greater than the amount of the sums secured by this Security Insimment immediately before the taking, unless Borrower and Lender otherwise agree in wdiing, 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 s mar ureglJme lately before the laking, divided by (b) the fair market value of the Properly immediately before the taking. Any balenc al 'tl�o B9F n the even) of a partial taking of the Property in which the fair market value of the Property immediate beton ¢,1 i i3less a ,1nA���', qu t�of the sums secured Immediately for the taking, unless Borrower and Lender otherwise agree in -writ' 5t7'((s applicable law oths�a(iI i vides, the proceeds shad be ���ccc 99 b QQQQQQ P applied to the sums secured by This Security InsW mart whether or roe rds are then due. Unless Len �r an Borrower otherwise agree in writing, any application of proceeds to principal shall not anted or gfponeihcdus date off he month pe ents referred to In paragraphs 1 or change the amount of such payments. ii 11. Borrower Net Released, Po n B Lender o a elver. si f th time for payment or modification of amortization of the sums secured b This Secu In a ttaattjj [[[��� y u e sor Interest of Borrower shall not operete to release the liability of the original Borrower or oryrro or sus s am In t� -ye a at not required to Commence proceedings against any successor in Interest or refuse to an int for y e l o h ise a lion of the sums secured by This Security Instrument by reason of any demand made by p 'Ina rr o w era su a r p Crest. Any forbearance by Lender in exercising any right or remedy shall not be a w ire} j or preclude the exemia f any lint 4dy. 12. Successors end Asslgne Boun ��i end Several Lla6ility;, fg a covenants and agreements d this Security Instrument shell bind and benefit the successors ngns of Lender and Bod or, s the Provisions of paragraph 17. Borrowers covenants a CCeemenls shall be t an tel Any Borrower who co-signs this SeCudty Instrument but does not execute the Note; (a) is co- ni Rhi Secudry Instmmen o+ yr+to ortgage, grant and convey that eortower8 interest in the PropertyunderLender sof this Security lnslrurn L(b) t rso ally��yyyoo$tt2���hh0���I..x0000� o pay the sums secured by this Security Instrument; and is agrees that Lender and any other Borrower may a sap �Xt qct, TT r or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrowers cbns4 L-' 13. Loan Charges. It the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and Thal already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make law Is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed th limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and ( a e any sums permitted reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the redthis refund by action will be treated es a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for In this Security Instrument shell be given by delivering it or by mailing H by first class mail unless applicable law required use of another molhod. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lander. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph. 18. Governing Law; Severability. This Security Instmmenl shall be governed by federal law and the law of the judsdiCtion 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 shell not affect other provisions of this Security Instmmenl or the Note which can be given effect without the conflicting provision, To Ihls end the provisions of this Security Instmmenl and the Note are declared to be severable. 16. Borcowere Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Treneler of the Property or a Beneficial interest in Borrower. II all or any partof the Property or any interest in H is sold or Irenslerred (or If a banalicial lntoresi in Borrower is sold or Transferred and Borrower is not a natural person) without Lenders prior written consent, Lender may, al Its option, require Immediate payment In lull of all sums secured by this Security Instrument. However, this option shall not be exercised by lender it exercise fa prohibited by to eral few as of the date of this Security Instrument. II Lender exercised this option. Lender shall give Borrower notice of acceleration. The notice shall provide a Period of not less than 30 days Iron the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instmmenl. it Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instmmenl without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets Certain conditions, Borrower shall 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 law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of ajudgment enforcing this Security Instrument. These conditions aro that Borower. (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 insured In enforcing this Security Instrument, Including, but not limited to, reasonable allomeys fees; and (d) takes such action as Lander may reasonably require to assure that the lien of this Security Instrument, Lenders rights in the Property and Borrowers obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security instrument and the obligations secured hereby shall remain fully affective as if no acceleration had occurred. However, this right to reinstate shall not apply In the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest In the Note (together with (his 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 Note 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 w be iven wntte notic f the change in accordance with 1� *** OR: 3561 PG: 3708 *** Paragraph 14 and applicable law. The notice will state the name and address of the new Loan Servlcer and the address to which payments should be made. The notice will also contain any other infonnatlon required by applicable law. 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or In the Property. Borrower shall not do, nor allow anyone else 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 none] residential uses and to malmenance 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 and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower leams, or Is notified by any governmental or regulatory authority, that any removal or other remedlatlon of any Hazardous Substance affecting the Property Is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Lew. Ae used In this peregreph 20,'Hazerd0 u5 Substances' are those substances deiinetl ae IoxN: or hazardous substances by Environmental Law and the following aubstences: gasoline, kerosene, other llammeble or toxic petroleum products, toxic Pesticides and herbicide-, volatile r ff solvents, materiels conlalning aebesto- or formaldehyde, end radIcaolN0 materiae. 0 used in thla peregreph 20 o r00mentel Lew' means federel laws and sews of the junadicilon where the Property le located that relate to health, safety or envlronmemel protection. or agreement I seSecudtyRns rumen[ (but not prior lot a eleratlonunder paragraph 1c7 n eels applic ble ew provides otherwif any cov nant notice shell specify: (a) the deft+ -it (b) the action required to min default' (c) a d' ' not las- then 30 days from the date the ratite is given to Borrower, by which the default must he cured; and (d) that failure to cure the default on or before the date specif ed In the notice may result in aweleratlon of the Sums secured by this Secudry Instrument, foreclosure by Judicial proceeding end sale of the Property. The notice shall further Inform Bonower of the fight to reinstate after eccelaretlon antl the right to ween In to Prom dlrig the non-existencesh l default or any other defense of Borrower to acceleretion end foreclosure. II the default IS not cured on or before the date apeclilad In the notice, Lender, at its option, may require Immediate payment In full of all some secured by this Security Instrument without funher demand and may forecioae this Security Inetmment by Judicial proceeding. Lender shell he entitled to collect all expenses Incurred In pursuing the remedies provided In this paragraph 21, Including, bra not limited to, reasonable attamey's fees and costs of the title evidence. 22. Releses. Upon payment of all sums secured by this Secuoly Instrument, Lender shall release this Security Instrument, without charge, to Bonower. Bonower shall pay any recordation costa. 23. Attorneys' Fees. As used in this Security Instrument and the Note, 'attorneys' face' shell include any attorneys, fees awarded by an appellate court. 24. Rldsrs to this Security InstrumenL If one or more ddere are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such dder shall be Incorporated Into and shall amend and supplement the covenants and agreements of this Security Instrument as If the rider(s) were a Pan of this Security Instrument. (Check Applicable Box) ❑ Adjustable Rale Rider ❑ Graduated Payment Rider ❑ Balloon Rider ❑ Other(a) (specify ❑ Rete Improvement Rider ❑ 1-4 Family Rider ❑ Biweekly Payme663fdilit SIGNING BELOW, Borrower accepts and agi by Borrower and recorded with It. Signed, sealed and delivered in the presence wennecs.• Janice E. Banvasz R. STATE OF 1GiMA COUNTYOF Collier Condominium Rider Second Home Rider led Unit Development Rlder and in any rlder(e) executed Pacheco 311143 Looking 61aes Laae, 01 Naples, Florida 34112 I hereby ceruly that on this day, before me, an officer duty authorized in the state aforesaid and in the county aforesaid to take acknowledgements, Pereonally appeared Lynnette Pacheco* to me known to be the person(s) described In and who executed the foregoing a sinfle, woman, and Edmando Pacheco add Elsda Antonsanti, his wife. Instrumentf'and acknowledged before me that (He/ shot they) executed the Same for the purpose therein expressed. WITNESS my hand and official seal In the County and State teres 'd this 7 th dof May 2004 My Commission Expires: (Reap e-Pubilc's Signature olary'a Printed Name `h�;I. • .=�A`'''' • •JPNICEE. BANYASZyYr: MY CGMMISSION B BN 102129 ��� �� EXPIRES:Jwst4, 20W rur�' Filet 04-114 �iid•� eo-ammuraavns�awnmuo 4183653 OR: 4373 PG: 3114 RBCORDBD in OPPICIAL RBCORDS of COLOR CODRTY, PL SECOND MORTGAGE 06/27/2008 at 12(42PK HIM B, BROCI, CLBRI DBLD 30000,00 OBLI 30000, 00 RBC PBI 35.50 DOC -.35 105,00 IRT -,002 60,00 RetnjBIPRBSS/PBDBI THIS SECOND MORTGAGE f"Secunty Instrument") is given on 1i 7-!>, 2006. The SeWpIM91fitgol PA Raymond E. Courte and Rosario COurte, a marrik*NI��O��U��Pp1y00p1PPpRR�R}SSpS9CRR9�4B�t,'R9 RRpD 3RD PL "('talltlCrrQ7Mt1y1st�e1 Hq%nd existing under ("Borrower'). TMs Security instrument fa given to Collier County the lows of the United States ofAmerira. and whos27,ddressis 3301 E ar Taismi Trail Nanlae, Florida 39112 BorrOwerowed Lander Viesum Of The ty Th Band rid 00/1p0 D Ilam (530,000.00). ypayhis payments. evidenced 11 Borrower's Nota dated the same dale as this Security Instrument ("$¢edpd Mortgage') Whlsh pr0wde9 for moetNy payments. with the foil debt, It not paid earlier, due and payable on 1 of p op tyrefinsionce, or lose of homestead exemption This Security Instrument secures to Lender : (a) the repayment of the debt evidenced by the Note, with IOlerest, and all renewals, extensions and modifications; (b) the payment of all other sums, with interest advanced under paragraph 7 to protect the eecunty, of the Security Instrument and Ca the performance of Borrowers covenants and agreements under this Security Instrument and the Note. For this purpose. Borrower does hereby second mortgage. grant and convey to Lender the following described property located in Collier County. Flonda. As more particularly described as Golden Gate Est Unit 46, W y6@ O1 Tr 21, Collier County, Florida and whmh has the address of Q'Prap¢rty Address". 4060 54`s Ave NB, Naples, FL 34120 TOGETHER WITH all the +mprovame+its now or hereafter erected on l e property, and at easements. rights appurtenances rents, royalties. mineral oil and gas rights and profits, water rights and stock and all fixtures now or hereafter a part of the property All replacements and additions shall also be Covered by the Security astA Jt A heJoregg;n`+a referred to In this Security Instrument as the Property' BORROWER COVENANTS that Boruwer is la epg+f tge'ejla}e, heCbY conveyed and has the night to mol defer grant and hP d nyprj•y�F¢a Tipp cord. Borrower warrants and will defend generally Convey the Property and that the Property is unencu e i e so (`/Yd, the title to the Property against all Claims and dem u 1 y encumof - THIS SECURITY INSTRUMENT sum u i r covenants for national d rot!�umform covenants with limited variation by iudsdicllon to constitute a uniform security trig a vering real property UNIFORM COVENANTS. Soup 01 ran poet covenant and agree as follows'. 1. Payment of PrinclpAt and I (Steel aymer"rigLeta _Charges. Borrows hall p aptly pay when due the principal of and interest on the debt evidenced by the Ne 2. Taxes. The Mongo9orwiI ay all axes, assess nls, a r rants or pier rates p For to a accrual of any penailies or interest Hanson. The Mortgagor Shall pay or use 1 In t e e be a e, ) all i xes and governmental charges of any kind whatsoever which may of any tim be Is IIy gas d 0 ley d as wit r p th Prop rty. (2) all utility and other charges. Including "sarvice charges', incurred o impo d f the o oral n, sine an a, o up cy, keep and improvement of itis Property, and (3) all assessments or other governors {aFeh as he la b p ld material Is erahohod of years, the Mortgagor shall be Obligated untle( the Mortgage to pay o u e to a ant 'su i al a are to a during the term of the Mortgage, and shall. promptly after the payment of an �iiha oregoing, forward to Mortgagee �idence such a 3. ice on of Payments. llWtys applicable Jew provides otherwi all pay sols be by Lender shall be applied. first. to fy,[ late char es tlue untler the N merest due: end, los; Lie s due; antl la 4 4. Chargee; Liens, Borrowers II razed, asseasmenta, charge es no od�fs li no ll pro le promptly foul the Propend which may attain priority over this Security Instrument, ea h01tl payments or ground rents i Y a r Shalt prpmplly fpmidh le Lender all notices of amounts to be Vold under this para all receipts evitlencing the pay Is. 8Crrowar shall promptly discharge an I ref as priority over this S¢gud d(1�Squg+ at unless Borrower la) agrees m willing 10 the payment of the obligation secured di the Whic�nmg b!C1p-LOrdEJ:y(E 'QI o�1111O�sth enforcement faith the of hen by.ien or defends against enfthe holder of of the ben in, legal proceedings Which e n illi l tt v4nl the enforcement of the tide, r line secures from the holder of the lien an agreement satisfactory to Lentler n e Int Security Instrument If Lender determines that any pen of the Property is subject to a lien which may attain priority over DFWSecond s rument. Lender may give Borrower a notice identifying the lien. Borrower shall sali9ty the lien of lake one or more of the actions set forth above within 10 days of the giving of notice. 6. Hazard or Property Insurance. Borrower shall keep the Improvements now existing or hereafter ¢reeled on the Property insured against lose by fire, hazaNs included within the term "extended Coverage" and any other hazards, including floods or flooding, for which Lender raquaea insurance. This Insurance shell ba melntained in Ire amounts and for the periods that Lender requires. The insurance carrier providing the Insurance shall be chosen by Borrower subject to Landers approval which shall not be unreasonably withheld, If Borrower falls to maintain coverage described above. Lentler may, at Landers option. obtain Coverage to protect Lender's rights in the Property in accordance with paragraph 7. At all limes that ire Note is ouislentling, the Modgagor shall maintain insurance with respect to the Premises against such rrska antl for soot amounts as are customarily insuretl aBafnsl end pay, as the same become due and payable, all premiums in respect thereto. including. but not limited lo. ailalsk insurance protecting the Interests of the Mortgagor and Mortgagee against lois or damage to the Premises by firs. gghlmng, and ofh¢r casualties cuslpmoniy insured ayainsl (including boiler explosion. ,f spompdate J. with a u ,ifm orstandard extended coverage entlorsemenl including debris removal coverage Such Insurance at all Imes to be ,m as amount not lees than the fun replacement cgs, of the Premsss, exclusive of footings antl bvndationa. All insurance p0ltcws antl renew•ate shall pe ac:x:plable ih Leader and shah include a standard mortgage f paid Leader Band nave the right to hhe the pelicias antl ,¢vie, . If Lentler requires. Borrower shall promptly give la Lender all receipts Of make premiums and renewal notces In the evens pi lose. Berrwar shah dive prompt notice to the insirance carver and Landed Lender may make proof of loss if not made promptly by Borrower Unless Lender and Borrower otherwise 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 Lenders secunly is not lessened. If the restoration or repair is net economically feasible or Lender's security would to lessened. the insurance proceeds shall be applied to the sums secured by the Security Instrument, whether or not men due, With any excess paid to Borrower. If Borrower abandons the Property. or does not answer Within 30 days a notice from Lender that the insurance carder has offered to Battle a claim. then Lender may colied 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 maned, Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due dale of the monthly payments referred to in paragraph t of change the amount of the payments. If under paragraph 21 the Property is acquired by Lender, Borrowers 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 acquisition. e. Occupancy, Preservation, Maintenance and Protection of the Property Borrower's Loan Application, Leaseholds. 80rrow h'shall occupy, establish, and use the Property as Borrowers principal residence within sixty days atter the execution or this Security Instrument and shall continue to occupy the Property as Borrower's principal residonce lot at least one year after the data of occupancy. unless Lender otherwise agrees in writing. which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrowers control. Borrower all not destroy. damage or impair the Property. allow the Property to deteriorate. or Commit waste on the Property Borrower shall be in default if any forterture action or proceeding, whether civil or criminal. is begun that In Lenders good faith judgment Could result in forfeiture of the Progeny or otherwise materially impair the lien Created by this .Secunly Instrument or Lenders security interest Borrower may cure such a default and reinstateas provided in paragraph 18. by causing the action or proceetlmg to be dismissed OR: 4373 PG: 3115 with a ruling that. m Lenders gootl faith tleterminahon, peciudee rodehure of the Borrower's interest in the Property or other material impairment of the lion created by this Becunry Instrumen(ot Lentlees security Interest Borrower shall also be in default if Borrower. during the loan application process, gave metenaliy false or inaccurate information or statements to Lender (or failed 10 provide Lender with any material hlformatiop) in wnnediorn with the loan evidenced by the thole, Including, but not flanged to. representations concerning Borrowers occupancy of the Property as a Principal resitlence It thug Security Instrument is on a leasehold. Borrower shall comply with all the provision of the lease. l( Borcaw¢r acquires tee ripe 1n the Property, Ue ieasehotd antl lite fee title shall not merge unless Lender agrees to the merger in willing. 7. Protection of Lentler's Rights In the Property. if eolaws, fails to perform the covenants and agreements contained in this Secor+ty Instumenl. er th¢e is o lege! Preceeding that may sigmhcandy affect Lender's rights in the Property (such as a proceeding in bankwptcy. probate. tar cpndemnalim+or fodeiWre or to enbrce laws or regulations) then Lender may do and pay for whatever is necessary to protect the vane of the Pnoperly and Lenders rights m the Property Lenders actions may include paying any sums secured by a lien which hag pnardy over N+a Sacur!Iy InsIrUP+eni appearing m COtnt Paying reasonable attorneys' fees and entering on the Property to make rep$+ra Alhay take setter. uncle+ this paregrepn 7. Lender dors not have to do so Any amounts disbursed by Lender under (his P ttoough re l.entlor m 7 shall become additional! debt of Borrowat secured by this Secunly Instrument Union Borrower and Lender agree to other terms of payment, these amounts shall bear mierest from the dale of disbursement at the Note rale and shell be payable. with interest upon notice (torn Lender to Borrower requesting payment B. mortgage Insurance. If Lender required mongage insurance as insurance of making the loan secured reason. t this Secunly Instrument, Borrower shall pay the premiums required to maintain the mortgage the premiums ed to obtain coverage substhe antially rence coverage required by Lander lapses or ceases lobe in effect. Borrower shalt pay the p ea equivalent to Ue mortLend insurence previously in affect, at a cost substantially equivalent to the cosi to Borrower of the mortgage insurance P in effect, from an alternate mongage 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 -twelfth ofthe yearly mortgage Insurance premium being paid by Borrower when the insurance coverage lapsed or ceased t0 be In effect. Lender will accept, use and retain these payments as a losareserve In lieu of mortgage Insurence. Loss reserve payments may no longer be required. at the option of Lender, if mortgage insurance coverage (7n Ne amount antl /or the period that Lentler requires) provided by en insurer approved by Lender again becomes available and Is obtained. Borrower shall pay the premiums rSo 0 to maintain mortgage insurance in effect, or to proviso a loss reserve, until the requirement for mongage insurance ends in accordance with any written agreement between Borrower and Lander or applicable low. I In. nUpn. Lander or its agent may make reasonable Spinas upon and inspections of the Property. Lender shall give Bonowar notice at the brae of or prior to an inspection sPacltying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for tlamagea, direct or consequential. in connection with any condemnation of other taking of any part of the Property. or for conveyance rn lieu at condemnation, are hereby assigned and shall be paid to Leptler, in the event of a total taking of the Property, 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 Ns Property. m which the tan market value of the Property immediately before the taking is equal to or greater n ver tits amount of the s hiS Security Instrument immediately before the laking. unless Borrower and Lender othanwis, ogres in writing. the sul�m�,aez u ad tilt u r imment shall be reduced by the amount of the proceeds multiplied by the following traction. tai the total emu of re51 cu g uyt etbre the laking, divided by {li) the fair market value of the Prolsetty immediately before the takin A Ifin o r vent of a partial taking of The Property in which the fair market value of the Property immediata} for 1 akmg Is less than thea o of sums secured immediately for the laking. unless Borrower end Lender olhervrise agregfn ri i Ott unless applicable law ofherm P d ' n procaede Shalt be applied to the surae secured by Nig Security InsiNmenl whaihs((ar n jK sums are then due. Unl¢89 Lender hod ROf war othervnse agree m writing, any application this proceeds to principal shell of eril rfaslpo a due tltl_ele of the monthly ymen referred to in paragraphs t or change the amount of seen paymems. ti 11. Borrower Not ReleasedFort ranca y Le er N L Waiver. E e tsion of t e time for payment or modification of amortization of the sums secured by 1 5 Sac riig.t ant tl by ender to a successor in int est of Borrower shall not operate to release the liability of the original Borr veto rr� r er a hall free to commence P y that Sec against any successor m Interest or r We t .zle d b or 6y an r ill rse ity til hon f the sums secured by Ih+s Security Instrument by reason of any demand ado th engin Bo ow r of r uc Is in i latest. Any forbearance by Lender in exercising any right or remedy shall n t ary r of recd the x for of any r ht rem yy. 12. Successors and Aasig B n an I o-SIg A. he v his and agreements of this Security instrument shall bind and benefit Pre s s IS and d agree of Lander ane glowers leer to ProNsrons of paragraph i7 Borrower n@his and agreements shall be for rid Bev rat. n or ower who w -signs this Sewnry Instrument but does not execute the Norco-srgmng Ihis Security Insvun my t mor rent and convey that Borrowers merest In the property under the lemas of tills Se I humenl; (b) is not personally a ate to Ill ms secured by this Security Instrument, and (c) agrees that Lender and any other we ay agree to extenQ modify, orb o y accommodations with regard to the terms of title Security Instrument or the Note witho he r overs consent. yy 17. Loan Charges. If the loan sew curty Instrument is Su jet �a inch sets maximum loan charges. dntl that law is finally interpreted so that the Interest or of I n ch g.rg1gglgL(,acAn wool It connection with the loan exceed the permitted limits, then: (a) any such loan charge shell be redu bya Dt¢s+n1 ryecpgsp¢/ o ratl the charge to the permitted limit. and (b) any sums already collected from BOrfoWerwhICh exceeded permit i I b f u orrower. Lender may owes to make this refund by reducing the principal owed under the Note or by making a airs aymeM-t prowler. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notion. Any notice to Borrower provided for in this Seventy instrument shall be given by delivering it or by mailing it by first class mail unless applicable law required use of another method. The nodes, shod be directed to the Property Address or any other address Borrower chauffeurs by notice to Lender. Any notice to Lender shall be given to Borrower at Lender when given as provided in this paragraph 15. Governing Law; Severablllty. 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 low, 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. Borrowers 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. It all or any pad of the Property or arty interest m it is sold or transferred (or if a henefica mteresl In Borrower is sold or transferred and Borrower is not a natural person) without Lenders prior wntlen consent, Lender may. at its optionrequire immediate payment in full Of 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 exercised this option. Lender shail give Borrower notice of acceleration. The notice shall provide a penod of not less than 3D days from the date the nature is delivered or mailed within which Borrower must pay all sums securetl by this Security Instrument. If Borrower fails l0 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. Borrowers Right to Reinstate. if Borrower meets certain conditions. Borrower shall have the night to have enforcement of this Security Instrument discontinued at any time prior to the earlier of iat 5 days (cur such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument, or to) entry of ajudgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be duo under this Security Instrument and the Note as, if no acceleration had ocwurtedt (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, Landers rights In the Property and Borrowers obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower. this Security instrument and the obligations se00red hereby Shall remain fully effrciNe as if no acceleration had occurred. However, this right to reinstate shall not apply Irl the case of acceleration under paragraph 17 18. Sale of Note; Change of Loan Servicer. The Note or a planar 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 Nota 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 Servk:er, Borrower will be given Written notice of the change m accordance with paragraph 14 and applicable law. The notice will state the name and atltlreas of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable law. OR; 4373 M 3116 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do. anything affecting the Properly 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 and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. if Borrower looms. or is notified by any governmental or regulatory authority, that any removal or other remediation or any Hazardous Substance affecting (he Property Is necessary Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law As used .+ this paragraph 2C. `Hazardous Substancesare those substances defined as toxic at hazardous substances by Environmental Law and the following substances gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents. materials centamin9 asbestos or formaldehyde., and radioactive materials As used in this paragraph 20, -Environmental Law' means federal laws and laws of the p,usdiclion 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 then 30 days from the dale the notice is given to Borrower, by which the default must be cured, and {dl 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 and sale of the Property. The noticeshall 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, Lentler, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may forectosethis SoCudiy Instmmentbyjudiclel 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. Relesea. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Without charge, to Borrower. Borrower shall pay any recordation costs. 23, Attomeys' Fees. As used In this Security Instrument and the Note. 'attorneys' fees" shall 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 Sectmly instrument as if the -ded$) were a pad of this Security Instrument. (Check Applicabfe Be,, F1 Adjustable Rate Ritter ❑ Rale Improvement 1-1 Payment Rider r❑ 1.4 Family R ef'- L,J Balloon Rider ❑ 3i sex o S ❑ Other(s) (speciry SIGNING BELOW, by Borrower e04+e Signed. sealed and WitnassHz Signature STATE OF FLORIDA^��-W COUNTYOF tt4tw covenants Address: 4 6 Condominium Ritter Second Home Rider 7ryt Development Rider Instrument and in any nder(e) executed I hereby certify that on this day. before me, an officer duly authorized in the state aforesaid and in the county aforesaid to take acknowledgements, personatty appeared Raymond E. Courte and Rosario Courts to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before a/they) executed the some for the purpose therein expressed. WITNESS my hand and official seal in the County and State stores ai f ay , 209 My Commission Expims:1'.� �N _ Notary Pu ic'a 1 n ra ` (Seal) ! (rr OVLJ Robtrk- Co,( tr\ Nota ins linted Nnine Q�epaced b�. Co\\�t�Cou ly\�us iso�E.Tgml r'01 t1o,.P\es Ft_34��Z _!,.`z?R�itti�S�+ �q01 20,W. ,Mat PileB: 08-045 EXHIBIT "A" LEGAL DESCRIPTION FOR 4060 54TH AVENUE NE NAPLES, FL 34120 FILE NO.: 26 -00669 -FL REO NO.: *** OR, 4373 PG; 3117 *** THE WEST 75 FEET OF THE WEST 150 FEET OF TRACT 21, GOLDEN GATE ESTATES, UNIT 45, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 7, PAGE 30, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA. Retn, 3134482 OR: 3226 PG: 0428 OELD 7500,00 ISLAND TITLE GUARANTY AGENCY I RECORDED In the OFFICIAL RECORDS of COLLIER COUNTY, PL RHC 211 15.00 PICS UP 02125/2001 at 02:25PR DNIGHT 1. FROCK, CLERK DOC -,35 26.25 SECOND MORTGAGE THIS SECOND MORTGAGE ('Security Instrument') is given on February , 2003 The Second Mortgagor is: Ariel Rivero and Anuday Veilia, Husband and Wife ('Borrower"). This Security Instrument is given to Collier County ('Lenderf. which is organized and existing under the laws of the United States of America, and whose address is 3050 North xorseshoe Drive, •275, Naples, Florida 34014. Borrower owes Lender the sum of Seven Thousand Fiw Bundred and No/100the Dollars (11.11.3 7l500,00 ). This debt is evidenced by Borrowers Nota dated the same date as this Security Instrument ('Second Mortgage'), which provides for monthly payments, with the lull debt, it not paid earlier, due and payable on sale of property, refinance, or lose of homestead exemption . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals. extensions and modifications: (b) the payment of all other sums, with interest advanced antler paragraph 7 to protect the security of the Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. Por this purpose, Borrower does hereby second mortgage, grant and convey to Lender the following described propertyloclledin Collier County, Florida. As more particularly described as Lot 13, Block 33, Golden Gate, Unit 2, Collier County, Florida and which has the address of ('Property Address"): 4300 19th Place ON., Naples, Florida 34116 TOGETHER WITH all the Improvements now or hereafter erected on the properly, and all easements, rights, appurtenances, renes, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now at hereafter a part of the property. All replacements and additions shall also be covered by the Security Instrument. All of the foregoing is referred to in this Security Instrument as the'Properry'. 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 and 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-uniform covenants with limited variation by Jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note. 2. Teres. The Mortgagor will pay all lazes, assessmenla,.sewerranis or water rales prior to the accrual of any penalties or interest thereon. }j'� The Mortgagor shall pay or cause to be paid, Aslh�a ties 4iyn$p due, (Ah l ) all taxes and governmental charges of any kind whatsoever which may al any lima be lawfully a sad f awed against 0A`vL' ;@p@of to the Property, (2) all utility and other charges. Including'service charges', Incurred or imposed I' tCee ration, maintenance, use,pabi� p,ncy. upkeep and improvement of the Property, and (3) all assessments or other governments[ charg s th y- fF,ly be paid in inslellin to of r a pend of years, the Mortgagor shall be obligated under the Mortgage to pay or cause I be p fit i ..s�uch instellmenlg9 are reQ ired�o be paid during the lens of the Mortgage, and shall, promptly after the payment of any of the oreg Ing, fonva7'Pd�yo MGM ogee a dence o uch ayment. 3. Appand, to tionprincipal ip Payments. last, I s y 'a -91 abs all,�aym Ns slued by Lender shall be applied: first, to Interest due; and, to principal due; and. U t any le ha s ue un e 1 N e lj 4. Charges; Liana. Borrower shall pay I t as, as as ep s c r s, a an imp sitions addbulable to the Property which may attain priority over (his Security Instrument, e e('ta me` N /g_% rent ,'f y. Sort war shall promptly lumish to Lender all notices of amounts to be paid under this para ph, an all receipts evldenci the pa me Borrower shell promhich has priority over Ihr ecu ty Il[g ant unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lie anner acceptable to Lea(q�r; ( ) c as in good faith the lien by, or defends against enforcement of the Ilan in, legal proceedings whi ' _ Lender's opinion a raley0 gr�§y"& Mha enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to - tl %L - rdmeling the lien to 7ecyybty Instrument. II Lender delennines that any pan of the Property is subject to a Icon which may attain p dt upNt�g Secant I sl in near may give Borrower a notice identifying the lien. Borrower shell satisfy the lien or lake one or more of the 111 5 9tcT.0_rT @ awl It 0 days of the giving of notice, 5. Hazard or Properly InsurenLY. Borrower shetl'k0 the t maItf ow existing or hereafter erected on the Property insured against loss by fire, hazards included within the tam 'extended coverage" and any other hazards, including floods or flooding. for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall W chosen by Borrower subject to Lenders approval which shall not be unreasonably withheld. lI Borrower fails to maintain coverage described above. Lender may, at Lenders option, obtain coverage to protect Lenders rights in the Property in accordance with paragraph 7. At all limes that the Note is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such Make and for such amounts as are customarily insured against and pay, as the some become due and payable, all premiums in respect thereto, Including, but not limited to. all-risk insurance protecting the interests of the Mortgagor and Mortgagee against loss or damage to the Premises by fire, fighining, and other casualties customarily insured against (including boiler explosion, if appropriate), with a uniform standard extended coverage endorsement, Including debris removal coverage. Such insurance at all times to be in an amount not less than the lull replacement coal of the Premises, exclusive of footings and foundations. All insurance policies and renewals shall be acceptable to Lender and shell include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. II 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 of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, fl the restoration or repair is economically feasible and Lenders security is not lessened. 11 the restoration or repair is not economically feasible or Lender's security would be lessened. the insurance proceeds shall be applied to the sums secured by the Security Instrument, whether or not than due, with any excess paid to Borrower. If Borrower abandons the Prooerty, 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 mailed. Unless Lender and Borrower otherwise agree In writing, any application of proceeds to principal shall not extend or postpone the due data of the monthly payments referred to In paragraph i or change the amount of the payments. It under paragraph 21 the Property Is acquired by Lender, Borrowers right to any insurance policies and proceeds resulting from damage Io the Property pnor to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 8, occupancy, Prestr milon, Maintenance and Protection of the Property; Borrower's Loon 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 Borrowers principal residence for at least one year after the dale of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist whk;h are beyond Borrowers control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lenders good faith judgment could result In formless of the Property or otherwise materially impair the lien created by this Security Instrument or Lenders security Interest. Borrower may cure such a delauil and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lenders good faith determination, precludes forfeiture of the Borrowers interest in the Property or other material Impalement of the Ilan Created by this Security Instrument or Lenders seoud y interest. Borrower shall 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, including, but not limited to, representations concerning Borrowers occupancy of the Property as a principal residence. It 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 lee title shall not merge unless Lender agrees to the merger in writing. !ll./ IY1 OR: 3226 PG: 0420, 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 Lenders 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 Lenders rights in the Property. Landers actions may include paying any sums secured by a lien which has pdority over this Security Instrument, appearing In court, paying reasonable attorneys' lees and entering on the Property to make repairs. Although Lender may lake action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall 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 dale of disbursement at the Note rale and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. S. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrumanl, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lopses or ceases to be in effect, Borrower shall pay the premiums required to obtain coverage 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 effect, from an 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 -twelfth of the yearly mortgage insurance premium being paid by Borrower when the Insurance coverage lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage Insurance. Loss reserve payments may no longer be required. at the option of Lentler, 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 enlrias upon and inspections of the Property. Lender shad give Borrower notice at the time at or prior to an Inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other laking 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 laking of the Property, 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 than 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 lair market value of the Property Immediately before the laking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the lair market value of the Property immediately before the laking 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 dale of the monthly payments referred to in paragraphs 1 or change the amount of such payments. 11. Borrower Not Released, Forbearance By Lender-NotrWelver.Exlension of the time for payment or modification of amortization of the sums secured by this Security Insfrume grp 1by(: q successor In interest of Borrower shal- not operate to release the liability of the original Borrower ar Borrow ( u e sorsiMicro �n shall not be required to commence proceedings against any successor in interest or refuse to exle�)) Payment or otherwl o i. mortizalion of the sums secured by this Security Instrument by reason of any demand made by thz arlgi��jaa Borrower or Borrower's so esso in interest. Any forbearance by Lender in exercising any right or remedy shall not be a wj' er oyovreoludo�lhe exercise of any n hi or emedy. 12. Successors and Aulgns Bou 8 J ((nt en8 ereRTa3llityC o -Signe T e covenants and agreements of this Security Instrument shall bind and benefit the success a a d assigns of er nd Bar at, sub Oct l the Provisions of paragraph 77. Borrowers cove ant 2g nt I Ypgjorb nd aAp— I. A y Borrower who co-signs this Security Instrument but does not execute the Nolo; (a is c si ding is req@un ns n aty/ o Ong ge, grant and convey that Borrower's interest In the Property under the terms of This Secur yY [u ant • ) i$ ndt r o Ily obi tdd to pav a sums secured by this Security Instrument; and (c) agrees that Lender and any other Bo p lw�k ina w ..ext nd.m ify, f or dinar any accommodations with regard to the terms of this Security Instrument or the Note wilhou a onower's consent, x 13. Lan Charge, II the loan seeurtt �pthis Security Instrumentsybj t t ay4a which sets maximum loan charges, and that law is finally Interpreted so that the Interest or o 1 �d�n chargs c eollected or tdtlg II-I(td1' connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be red C d y the amount necessary to`' l�r uEg,l a charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded I its will be refundadAd at. Lender may choose to make this refund b reducing the principal owed under Iha Nole or by m �rcrl�qq ir//// tpaymen4lop-�0�'✓ir�>p�i r I a refund reduces principal, the reduction will be treated as a partial prepayment without any prepaymentZlrgrgeuJtt r" DIS E sl' 14. Notices. Any notice to Borrower provided form his ecry-(n rumen) shall be given by delivering it or by mailing it by first class mail 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 Lew; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property 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 allect other provisions of this Security Instrument or the Nota which can be given effect without the conflicting provision. To this and the provisions of this Security Instrument and the Note are declared to be severable. 18. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument, 17. Render 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 It a beneficial Interest in Borrower is sold or transferred and Borrower is not a natural person) without Lenders prior written consent, Lender may, at Its option, require immediate payment in full of 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 Secunty Instrument. It Lender exercised this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the dale the notice is delivered or malted within which Borrower must pay all sums secured by this Security Instrument. it Borrower fails to pay these Sums prior to the expiration of this period, Lender may invoke any remedies penniged by this Security instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. It Borrower meals certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earner of : (a) 5 days (or such other period as applicable law 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 enlorcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Secumy 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 attorneys fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lenders 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 secured hereby shall remain fully affective as 11 no acceleration had occurred. However. this right to reinstate shall not apply in the case o1 acceleration under paragraph 17. 19. sale of Nola; Change of Loan Servicer. The Note or a partial Interest In the Note (together with this Security Instrument may be Bold 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 Note 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 few. The notice will stale the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable low. 20. Mezetdoue Substances. Borrower shall not cause orpermil the presence, use, disposal, storage, or release of any Hazardous Substances on or In the Property. Borrower shall not do, nor allow anyone else to do, anything allKting the Property that is in violation of any Environmental Lew. 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. -ry 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 and 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 any removal or other remediation of any /I) I/ r OR: 3226 PG: 0430 Hazardous Substance affecting the Properly 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 Ilammable or toxic petroleum Products. toxic pesticides and herbicsoes, volatile solvents, materials containing asbestos or formaldehyde, and - radioactive materials. As used in this paragraph 20, 'Environmental Law' means federal laws and laws of the jurisdiction where the Property is located that relate to health, safely 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 and sale of the Property. The notice shall lunher Inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the namexislence 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 expanses 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 all 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'shall include any allomeys' fees awarded by an appellate court. 20. Riders to this Security Instrument. It one Or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such neer shall be Incorporated into and shall amen and supplement the covenants and agreements of this Security Instrument as it the riders) were a pan of this Security Instrument. (Chock Applicable Box) ❑ Adjustable Rate Rider ❑ Rata Improvement Rider ❑ Condominium Rider ❑ Graduated Payment Rider ❑ 1.4 Family Rider ❑ Second Home Rider ❑ Balloon Rider ❑ Biweekly Payment Rider ❑ Planned Unit Development Rider ❑ Others) (specify SIGNING BELO orrower accepts and agrees to the terms and covenants contained in this Security instrument and in any ndens) executed by Bomowar en rec r will it. Signed, sewed ar17, redZIM presence of: a STATE OF FLORIDA COUNTY OF iO I hereby certify that on this day, before acknowledgements, personally appeared Ade) I foregoing Instrument and acknowledged before me that (He/ she/ aw. authorized in thel,'k1latfiaforesaid and in the county aforesaid to lake to be the Persons) described in and who executed the executed the same for the purpose therein expressed. 20f0MWITNESS my hand and official seal in the County and State all thiy d of .20-0— My y Commission Expires: 13eaQ3try Ic tgn �IENA MtMORA se Notary' need Nemo Filek 03-139