Agenda 07/24/2012 Item #16D 77/24/2012 Item 16.D.7.
EXECUTIVE SUMMARY
Recommendation to approve one (1) satisfaction of mortgage in the amount of $5,000 for
repayment received for the balance owed on a State Housing Initiatives Partnership (SHIP) loan.
OBJECTIVE: Approve one (1) satisfaction of mortgage.
CONSIDERATIONS: The State Housing Initiatives Partnership Program (SHIP), a state affordable
housing grant, offers assistance to first time homebuyers for use toward a portion of the required down
payment and emergency repairs to the newly acquired home. As a condition of award, the homeowner
must repay the assistance provided upon sale, refinance or loss of homestead exemption.
On January 10, 2002, a mortgage was recorded to Collier County from applicant(s) Louisca Vasor and
Laurette Cineus in the amount of $5,000.00. An amount of $2,500 was provided towards the down
payment assistance and an additional $2,500 was granted to the homebuyers to be used towards
emergency repairs to the dwelling unit. The homeowners utilized only $602.89 of those emergency repair
funds and are therefore only required to repay the Collier County SHIP Trust Fund the amount of
$3,102.89.
The following table provides detail regarding the associated mortgage that has been repaid in full, as
such; a satisfaction of mortgage is required.
Name
Security Instrument
Payoff Received
Official Public Records
Louisca Vasor &
Lauretta Cineus
SHIP Second Mortgage
$3,102.89
Book: 2960, Page: 2580
Approval of this item will authorize the Chairman to sign the aforementioned satisfaction of mortgage
and the executed documents shall be recorded in the Public Records of Collier County, Florida.
FISCAL IMPACT: SHIP funds in the amount of $3,102.89 have been repaid and are considered
program income. Such funds have been deposited into Fund 791 and may be used for eligible SHIP
program activities.
LEGAL CONSIDERATIONS: This item is legally sufficient and requires a majority vote for Board
action. —JW
GROWTH MANAGEMENT IMPACT: None.
RECOMMENDATION: Approve and authorize the Chairman to sign one (1) satisfaction of mortgage
in the amount of $5,000.00 that repayment in full has been provided to Collier County
Prepared By: Priscilla Doria, SHIP Loan Processor, Housing, Human and Veteran Services
Packet Page -2538-
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.D.7.
7/24/2012 Item 16.D.7.
Item Summary: Recommendation to approve one (1) satisfaction of mortgage in the
amount of $5,000 for repayment received for the balance owed on a State Housing Initiatives
Partnership (SHIP) loan.
Meeting Date: 7/24/2012
Prepared By
Name: DoriaPriscilla
Title: SHIP Loan Processor,Housing, Human & Veteran Servi
6/20/2012 3:45:14 PM
Submitted by
Title: SHIP Loan Processor,Housing, Human & Veteran Servi
Name: DoriaPriscilla
6/20/2012 3:45:16 PM
Approved By
Name: AlonsoHailey
Title: Operations Analyst, Public Service Division
Date: 6/21/2012 8:37:43 AM
Name: SonntagKristi
Date: 6/27/2012 8:43:15 PM
Name: DoriaPriscilla
Title: SHIP Loan Processor,Housing, Human & Veteran Servi
Date: 7/3/2012 9:14:18 AM
Name: StanleyTherese
Title: Management/Budget Analyst, Senior,Office of Management & Budget
Date: 7/3/2012 5:09:21 PM
Name: CarnellSteve
Packet Page -2539-
Title: Director - Purchasing /General Services,Purchasing
Date: 7/9/2012 8:11:53 AM
Name: WrightJeff
Title: Assistant County Attomey,County Attorney
Date: 7/10/2012 4:49:19 PM
Name: KlatzkowJeff
Title: County Attorney
Date: 7/11/2012 3:41:45 PM
Name: PryorCheryl
Title: Management/ Budget Analyst, Senior,Office of Management & Budget
Date: 7/12/2012 9:53:06 AM
Name: KlatzkowJeff
Title: County Attorney
Date: 7/12/2012 10:15:04 AM
Name: OchsLeo
Title: County Manager
Date: 7/12/2012 11:27:43 AM
Packet Page -2540-
7/24/2012 Item 16.D.7.
7/24/2012 Item 16.D.7.
Prepared by:
Collier County
Housing, 1- luinan & Vcteran Services
3339 F. 'T'amiami 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 Louisea Vasor and Lauretta Cineus to COLLIER COUNTY, bearing the date
of January 02, 2002, recorded on January 10, 2002 in Official Records Book 2960, Page 2580, 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 situated in said State and County described
as follows, to wit:
Legal Description: Lot 21, Block 8, Naples Manor Annex, of the Public Records of Collier County,
Florida (5349 Sholtz Street, Naples, FL 34113.)
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.
Dated this day of
ATTEST: BOARD OF COUNTY COMMISSIONERS
DWIGHT E. BROCK, Clerlc COLLIER COUNTY, FLORIDA
By: By:
Deputy Clerk FRED W. COYLE, CHAIRMAN
Approved as to form and
legal`swficiency' !"g_
Jeff E. rWright
Assi.&nt County Attorney
Packet Page -2541-
,Q�'
v'
comer County
Public Services Division
Housing, Human & Veteran Services
May 16, 2012
To: Jeff E. Wright
Assistant County Attorney
Office of the Collier County Attorney
Re: Louisca Vasor & Laueretta Cineus File# 02 -114
5349 Sholtz Street Program: SHIP DPCC
Naples, FL 34114
Recorded on 01/10/2002, OR Book 2960, Page 2580.
7/24/2012 Item 16.D.7.
The payoff amount to satisfy the above mentioned property owner's loan with Collier County is
$3,102.89. This is a zero {0) interest loan with no payments, therefore the payoff will remain
the same regardless of date. $2,500.00 was used towards down payment assistance and
$602.89 was utilized for rehab repairs to the purchased home.
Payment should be made to "Collier County Board of County Commissioners" and delivered
to: Housing, Human and Veteran Services, 3339 E. Tamiami Trail, Bldg H, Suite 211, Naples, FL
34112.
Please include a separate check in the amount of $10.00 made payable to: Collier County Clerk
of Court for the cost of recording.
Thank you,
Phone: 239 -252 -5312
E -fax: 239 - 252 -6518
Email: 2riscilladoria@colliergov.net
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2914478 OR: 2960 PG: 2580 7/24/2012 Item 16.D.7.
II'.! 3 *.1RkS".i AG ?SC, :': tr: ... ..ii: '!CORDS . ^( .Li:!3 CQ:Y ?I, ?L
.,
THIS SECOND MORTGAGE ('Security Instrument') is given on December , 2001 The Second Mortgagor is
Louisca 1lasor, A Single Person & Lauratta Cinetus, A Single Person
('Borrower'). This Security instrument is given to Collier-County ('Lender'), which is organized and existing under
the laws of the United States of America, and whose address is 3050 North Horseshoe Drive, 6775, Naples,
Florida 36016 . Borrower owes Lender the sum of rive Thousand and No/ 100ths Dollars (U.& S 5, 000.00 ).
This debt is evidenced by Borrower's Note dated the samo date as this Security tnslrument ('Second Mortgage'), which provides for monthly
payments, with the full debt, if not paid eatker, due and payable on sale of property, refinance, or loss of
hosestsad ea;astption , This Security Instrument secures to Lender: (a) Ilia 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 under paragraph 7 to protect
Ilia security of the Security Instrument; and (c) the performance of Borrower's 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 properly located in
Collier County, Florida.
As more particularly described as Lot'21, °Block t -lapis Manor Annex, Collier County, fro dad and which has the address of:
(*Property Address'): 5341 - Shalts, Street,' Staples, Florida .34113
TOGETHER WITH all the improvements now or hereafter erected on tho 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 shad also be covered by the Socurity 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, except for encumbrances of record. Borrower warrants and will defend generally
the tole to the Properly 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 Lets Charges. Borrower shall promptly pay when dim the principal of and
interest on the debt evidenced by the Note.
2. Taxes. The Mortgagor will pay all taxes, assessments „sawer_ rents or water rates prior to the accrual of any penalties or interest
The Mortgagor shall pay or cause to be paid as this sjrli d� spaclivdlj, become due, (A)(i) aft taxes.and governmental charges of any
kind whatsoever which may at any time be (awfully rise et7 er/evied agamsianavill'i la pgct to tho Property, (2) all utility and other charges.
including *service charges% incurred or imposed fpf ithe'operation, maintenance, use,�octupancy. upkeep and improvement of the Property, and
(3) aft assessments or other governmental chargt3s Ii rmay lawfully be paid in tnstahntents t:itier a period of years, the Mortgagor shall be
obligated unifier the Mortgage to pay or cause td be piid",dfiry—i- LkliA%Iafiments.as are required 10 be paid during the term of the Mortgage, and
shall, promptly after the payment of any of theiloreg6ing,4 rd to M01 iga44 eLidence ot,such,payment,
3. Application of Payments. Unities appficabU, aw.pirad&sbtbemos Aug xyn ants ecewed by Lerxier shall be applied; first, to
interest due; and, to principal due; and last. tb Fry; )i4terkFi s dui uh0&11�ej Noll
?� f
4. Charges; Llano, Borrower Shall paY ell taxes, ss9ssrte�ts) c pas,
amain priority trier this Security Instrument, gn;We isafioid payment, 8Pfg ou(d rent1 y. Pgrrdwer shag promptly furnish to Lender all
notices of amounts to be paid under this par$,grapf�(- ar>�tf receipts dvid nclhg the ynient ` , 1
Borrower shall promptly discharge dog lien which has priority over the Security Insldlm¢nt unless Borrower: (a) agrees in witting to
Ina payment of tine obligation secured by the tiert iit manner acceptable to Let}dar; (b) corftests /in good faith the lien by. or defends against
enforcement of the lien in, legal proceedings writ cti.inyhs Lender's opinion oper4f4.;to brrf,renfibe enforcement of the lien; or (c) secures from
the holder of the lion an agreement satisfactory INL-pnaer subordinating the hen to fhis,8apur� Instrument. 11 Lender determines that any part
of the Property is sutryeet to a lien which may atlam npn�ygvor the Security Insituri4l, Lender may give Borrower a notice identifying the hen.
Borrower shall satisfy the lien or take one or more of the khwrsset.fonh -aWva• jjhdmb days of the giving of notice
5. Masard or Proparty insurance. Borrower'ahall keisp the i "ntg_dow existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term'extenasd�vf3ra je�anyblZi, hazards, including floods or flooding, for which Lender
requires insurance. This insurance shall be maintained in the amounts affil for the periods that Lender requires. The insurance carrier
providing the insurance shah be chosen by Borrower subject to Lenders approval which shall not be unreasonably withheld. It Borrower fails to
maintain coverage described above, Lender may, at Lender's option. obtain coverage to protect tenders rights in the Properly in accordance
with paragraph 7. At all times that the Note is outstanding. the Mortgagor shall maintain insurance with respect to the Premises against such
risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto,
Including, but not limited to . all-risk insurance protecting Ina interests of the Mortgagor and Mortgagee against ions 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 andorcement including debris removal coverage. Such insurance at all times to be in an amount not less than the full replacement
cost of the Premises, exclusive of loolings and foundations.
All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shalt have
the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal
notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss it not made
promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoratlon or repair of the Property
damaged, it the restoration or repair is economically feasible and Lenders security is not lessened. It the restoration or repair is not
aconomically feasible or Lenders security would be lessened, the insurance proceeds shall be applied to the sums secured by the Security
Instrument, whetter or not then due, with any excess paid to Borrower If Borrower abandons the Property, or does trot answer within 30 days
a notice from Lender that the insurance carrier has offered to settle a claim, then Lender rnay 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 date of the monthly payments referred to in paragraph 1 or change the amount of the payments It under paragraph
21 the Property is acquired by Lender, Bortowers 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.
6, Occupancy, Preservation, Maintenance and Protection of the Property; Borrowers Loan Application. Leaseholds, Borrower shall
occupy, establish, and use the Property as Borrowers principal residence within sixty days after the execution of this Security Instrument and
shalt continue to occupy the Property as Borrowers principal residence for at least one year after the date of occupancy, unless Lender
otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless exlentrating circumstances exist which are beyond
Borrowers control. Borrower shalt 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 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 Leridaes good faith determination, precludes forfeiture of the Borrowers interest in the Property or other material
Impairment of the hen created by this Security Instrument or Lenders security interest. Borrower shall also be in default it Borrower, during the
loan application process, gave materially false or inaccurate information or statements to Lender (or faded 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.
It Borrower acquires lee title to the Property, the leasehold and the tee title shall rat merge unless Lender agrees to tie merger in writing.
Packet Page -2544-
OR: 2t 7/24/2012 Item 16.D.7.
7. Protedlon of Lender's Rights in the Property, If Borrower fads to perform the covenants and agreements contained in this
Security Instrument, or there is a legal proceeding that may significantly affect Lander's rights in the Propony (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 Landers rights in the Property. Lender's actions may include paying any sums secured by a lien which
has priority over this Security Instrument, appearing in court, paying reasonable attorneys` tees and entering on the Property to make repairs.
Although Larder may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lander under this
paragraph 7 stall become additional debt of Borrower secured by this Security instrument. Unless Borrower and Lender agree to other terms
of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice
from Lander to Borrower requesting payment.
S. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
Instrument, Borrower shag pay the premiums required to maintain the mortgage insurance to effect. 11, for any reason, fire mortgage insurance
coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to obtain coverage substanhalty
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 Lender, it mortgage insurance coverage (in
the amount and for the period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained.
Borrower shalt 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.
i. Inspection. Lander or its agent may rnaks reasonable entries upon and Inspections of the Propeny. Lender shalt give Borrower
notice at the time of or prior to an inspection specilying reasonable cause for the inspection,
10, ContMlnnslion. The proceeds of any award or claim for damages, direct or consequental, in connection with any condemnation
or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, In the
event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or riot then due,
with any excess paid to Borrower. In the event of a partial laktng 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 "it be reduced by the amount of the proceeds
multiplied try the following traction: (aj the total amount of the sums secured Immediately before the taking, divided by (b) the Ian market value
of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Properly in which
the fair market value of the Property immediately before the taking is loss 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 sul be applied to the sums
secured by this Security Instrument whether or no( 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 I or change
the amount of such payments.
11. Borrower Not Released, Forbearance By Len0_uKot4LWAivsr. Extension of the time for payment or modification of
amortization of the sums secured by this Security Instrumbnt'pprpntt b L� iyarty successor in interest of Borrower shall not operate to
release the liability of the original Borrower or Borrow r' stcgl�abrr€in -ibt�t r shall not be required to commence proceedings
against any successor in interest or refuse to eidakrk*9r�aymont or at AV, amortization of the sums secured by this Security
tnslrumenl by reason of any demand made.by thi 621W Borrower or Barra er's we so [[s in interest. Any forbearance by Lender in
exercising any right or remedy shalt not be a waiver g1`or preclude the exercise of any light 0 remedy.
12. Successors and Assigns Bound; JGAn�jhd SevaraE1b61Itt Ro-Sig n. covenants and agreements at this Security
Instrument shall bind and benefit the successors a(hd aSSignTS o�lend r@ and Boirower, s fecl t the
Provisions of paragraph 17. Borrowers covbnanfE eats MS s �o1 d s at. y Borrower who co-signs this Security
Instrument but doss not execute the Note; 6j as 9 q, r utit l juI t ( art ge, grant and convey that Borrower's interest
m the Property under the terms of this Secu rh rity t � Irlllrre� (b)!is t , -s 11 ' aMd toipay sums sa urod by this Security instrument
and (c) agrees that Lender and any other r y e oxtyf illy, t if ark any accommodations with regard to the terms
of this Security Instrument or the Note wit h tht 86we •c�Ltsdnt _c
12. Lola Charges. If the loan s Ere by this Security Instrument It subject to face hich sets maximum loan charges, and that
law is finally interpreted so that ft interest o }loan charges collected or oe c le tPidla enaction with the loan exceed the permitted
limits, then: (a) arty such ban charge shag be�etYi d by the amount necesse+ o r at.. rge to the permitted limit: and Jet any sums
already collected from Borrower which exceed )feiti led limits will be refunded r(avet. Lender may choose to make this relund by
reducing the principal owed under the Note or by �ingg'&direct payment to Borr , er 114 refund reduces principal, the reduction will be
treated as a partial prepayment without any pr ylbher14thsi eaal.er thg plW$'y \°� ��
14, Notkrs. Any notice to Borrower prov ded•Lpr. �?�} Securi'yilydtl(.umsr(1 shall be given by delivering it or by mailing it by first
class mall unless applicable law required use of anothat Met hestt_Thetrtot heirs }I be directed to the Property Address or any other address
Borrower designates by notice to Lender. Any notice to Lander shall be given to Borrower or Lender when given as provided In this paragraph.
16. Governing Law; SeverablHty. This Security Instrument shall be governed by federal law and the law of the junsd+chon in which
the Property is boated. In the event that any provision or clause of This Security Instrument or the Note conflicts with applicable law, such
conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To
this end the provisions of this Security Instrument and the Nole are declared to be severable.
16. Sonowers Copy. Borrower shall ire given one conformed copy of the Note and of this Security instrument,
17. Transfer of the Property or a Beneficial Interest In Borrower. If as or any part of the Property or any interest in it is sold or
translerfed (or if a beneficial Interest to Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written
consent, Lender may, at its option, require Immediate payment in lull of all sums secured by this Security Instrument. However, this option shall
not be exercised by Lander if exercise is prohibited by federal law as of the date of this Security Instrument.
If Lender exercised this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of rat less than 30 days
from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. it Borrower fads to
pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further
notice or demand on Borrower.
16. Borrower's Right to Reinstate. It Borrower meets certain conditions. Borrower shall have the right to have enforcement of this
Security Instrurent 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 Propeny pursuant to any power of sale contained in this Security InstrumenL or (b) entry of a judgment
enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Larder all sums which then would be due under this Security
Instrument and the Note as if no acceleration had occurred; (b) cores 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 lion of this Security Instrument. Lenders rights in the Properly 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 effective as it no acceleration had occurred. However, this right to remslate shall not apply In the case of
acceleration under paragraph 17.
ill. Sale of Note; Change of Loan Servitor. The Note or a partial interest In the Note (together wan this Security Instrument) may
be Gold 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. It there is a change of the Loan Servicer, Borrower will be given written notice of the change to accordance with
paragraph 14 and applicable law. The notice will state the name and address of to new Loan Servicer and the address to which payments
should be made, The notice will also contain any other information required try applicable law.
20. Nsardous 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 shecling 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 Properly of small quantities of
Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance at the Property.
Borrower shall promptly give Lender written notice for any investigation, claim, demand. Lawsuit of other action by any governmental or
regulatory agency or private petty involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual
knowledge. 11 Borrower learns, or is notified by any governmental or regulatory auttorily, that any removal or other remediation of any
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1** OR; 29L7/24/2012 Item 16.D.7.
Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial achons m accordance with
Environmental Law.
As used in this paragraph 20. 'Hazardous Substances' are those substances defined as toxic or hazardous substances by Environmental Law
and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile
solvents, materials containing asbestos or formaldehyde, and
radioactive materials. As used in this paragraph 20, 'Environmental Law' means federal laws and laws of the jurisdiction where the Property is
located that relate to health, safety or environmental protection.
21. Acceleration; Remsdles, Lander shall give notice to Borrower prior to acceleration fallowing Borrower's breach of any covenant
or agreement in this Security Instrument (but riot prior to acceleration under paragraph 17 unless applicable taw 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 dale specified in the notice may result
in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and safe of the Property. The notice shall
furihar inform Borrower of the right to reinstate alter 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- II the default ns 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 funner demand and may
foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies
provided in.lhis paragraph 21, including, but not limited to, reasonable attorney's fees and costs of the title evidence.
22. fidnae. 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. Attomitys' Pans. As used in this Security Instrument and the Note, 'attorneys' fees' shalt include any attorneys' lees awarded by
an appellate court,
24. hiders 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 rider shall be incorporated into and shall amend and supplement the covenants and
agreements of this Security Instrument as if the rider(s) were a pan of this Security instrument. (Check Applicable Box)
❑ Adjustable Rate Rider ❑ Rate Improvement Rider ❑ condominium Rider
❑ Graduated Payment Rider ❑ 1.4 Family Rider ❑ Second Home Rider
❑ Balloon Rider ❑ Biweekly Payment Rider ❑ Plannod Unit Development Rider
❑ Other(s) (Specify
SIGNING BELOW, Borrower accepts and agrees to the runs and covenants contained in this Security Instrument and in any ndurts) executed
by Borrower and recorded with it.
Signed, sealed and delivered in the ppresence ot. - - -- -.
a i 1 liitl ]�_i!. 1 ' t ( Igneiuxet J t. �.. -,! h .J
Witnessat: Lam_.
f i
Borrower F2,pnieca Vuor
W itnessN2: u r ri 0. r_., i i ,� /r / Sipnatunri{'rc+(4YYfIE! .
_-
4 Co-- Borrower La-Aretta Cinwe
Signature: . "1 .: x rv,�y�_�{�
i i! � t � �gdW�ss4`•��t� efYOltlts Btraat
1fY NaDlas- % kids, 31113
STATE OF FLORIDA
l
COUNTY OF I(t/
I hereby certify that on tills day. before rite` ap.61ficer duty authorized in the- Siatb,aforesaid and in the county aforesaid to take
acknowledgements, personally appeared Louise Vale illi L'Auretts isine, to hie kudwn to be the person($) described in and who executed
the foregoing instrument and acknowledged before me that (He/ ihelthey)Tiireculed the same for the purpose therein expressed.
!t,
WITNESS my hand and official seal in the County and State aforesaid this -1( day of i, ,111, 1r f_ 20 +
My Commission Expires: t —
Notary Pu ic's n tier#
(Seat) — — — — — _ -. % 1 i L .- --
i,J,....., y•.�,
Filek 02 -1`I4
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