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Agenda 01/11/2011 Item #16D 4 Agenda Item No. 16D4 January 11, 2011 Page 1 of 58 EXECUTIVE SUMMARY Recommendation to approve and authorize the Chairman to sign nine (9) Satisfactions of Mortgage for owner occupied affordable housing dwelling units that have satisfied the terms of assistance. OBJECTIVE: Approve and authorize the Chairman to sign the Satisfactions of Mortgage for owner occupied affordable housing dwelling units that have satisfied the terms of assistance. CONSIDERA TIONS: Recipients of affordable housing assistance are required to repay the County upon sale, refinance or loss of homestead exemption. Specifically, these applicants received either State Housing Initiatives Partnership Program (SHIP) assistance for residential rehabilitation or American Dream Downpayment Initiative (ADD!) assistance for a new home purchase. Under these initiatives, as approved by the Board of County Commissioners, if the recipient does not sell, refinance or lose their homestead exemption for fivc (5) years, the loan is forgiven. These applicants have maintained compliance with the terms of the loan for five (5) years and therefore the County must satisfy the mortgage. Other affordable housing initiatives approved by the Board of County Commissioners do not forgive the assistance provided. The following recipients have fulfilled the obligations of the affordable housing assistance provided by Collier County: Name(s) Property Description Assistance Public Record Provided Marjorie Abraham Lot 12, Elk 1, Burda1e $10,000.00 OR 3905, PG 1555 Junie Armand Lot 55, Independence, Phase One <1:1 () ()()() ()() OR 3884, PG 3887 '-V..I..V,....................vv Leticia A velar Lot 50, Independence, Phase One $10,000.00 OR 3900, PG 2679 Jose Linares Lot 15, Elk 194, Golden Gate, $10,000.00 OR 3888, PG 3583 Unit 6 Delma Harding Lot 62, Independence, Phase One $10,000.00 OR 3895, PG 3765 Anita Zepeda Lot 49, Independence, Phase One $10,000.00 OR 3884, PG 3922 Lucille Boylan Naples Trace, Unit 202 $4,255.00 OR 3720, PG 3319 Patricia Lane Lot 10, Collier Village $ 8,240.00 OR 4131, PG 1099 Lesvia Martinez Trafford Pines Estates $14,300.00 OR 4177, PG 2763 Approval of this item will authorize the Chainnan to sign the Satisfactions of Mortgage for an owner occupied affordable housing dwelling units that have satisfied the tenns of assistance provided. Following approval and execution, the documents shall be recorded in the public records of Collier County, Florida. FISCAL IMPACT: None. GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this item. LEGAL CONSIDERATIONS: This item is legally sufficient for Board action. This item requires a simple majority vote. -JW Agenda Item No. 16D4 January 11, 2011 Page 2 of 58 ST AFF RECOMMENDATION: Approve and authorize the Chairman to sign the Satisfactions of Mortgage for owner occupied affordable housing dwelling unit that has satisfied the terms of assistance provided. PREPARED BY: Frank Ramsey, Housing Manager, Housing, Human and Veteran Services. Agenda Item No. 16D4 January 11, 2011 Page 3 of 58 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: Item Summary: 1604 Recommendation to approve and authorize the Chairman to sign nine (9) Satisfactions of Mortgage for owner occupied affordable housing dwelling units that have satisfied the terms of assistance. Meeting Date: 1/11/2011 9:00:00 AM Approved By Marcy Krumbine Director - Housing & Human Services Date Public Services Division Human Services 12/21/201011:49 AM Approved By Hailey Alonso Administrative Assistant Date Public Services Division Domestic Animal Services 12/21/201012:43 PM Approved By Marla Ramsey Administrator - Public Services Date Public Services Division Public Services Division 12/22/2010 11 :25 AM Approved By Tona Nelson Administrative Assistant, Senior Date Public Services Division Parks & Recreation 1/4/2011 8:26 AM Approved By Jeff Wright Assistant County Attorney Date County Attorney County Attorney 1/4/201111:40 AM Approved By OMB Coordinator Date County Manager's Office Office of Management & Budget 1/4/2011 1 :30 PM Approved By Sherry Pryor Office of Management & Budget Management/ Budget Analyst, Senior Date Office of Management & Budget 1/4/2011 2:32 PM Approved By Jeff Klatzkow County Attorney Date 1/4/2011 3:28 PM Approved By Leo E. Ochs, Jr. County Manager Date County Managers Office County Managers Office 1/4/2011 4:16 PM Agenda Item No. 16D4 January 11, 2011 Page 4 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3301 E. Tarniarni 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 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by MARJORIE J. ABRAHAM to COLLIER COUNTY, recorded October 05, 2005 in Official Records Book 3905, Page 1555, of the Public Records of Collier County, Florida, securing a principal sum of $10,000.00 and certain promises and obiigations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 12, Block 1, Burdale, according to the plat thereof, as recorded in Plat Book Book 4, at Pages 2, ofthe Public Records or Collier County, Florida. (2695 Linwood Avenue, Naples, FL 34112) 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 J.1!:' day of . \^n..n,., ?OP "'-' l.A L.I '^'lJ , '1 ,-~. I . ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal sufficiency: '\ ...~... .....- ~-<. right t County Attorney Agenda Item No. 16D4 January 11, 2011 Page 5 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3301 E. Tamiami Trail Naples, FL 34112 THIS SPACE FOR RECORDING SA TISFACTION OF MORTGAGE KNOW ALL MEN BY TIIESE PRESENTS: That COLLIER COUNTY, whose post office address is 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Junie Armand to COLLIER COUNTY, recorded September 7, 2005 in Official Records Book 3884, Pages 3887, of the Public Records of Collier County, Florida, securing a principal sum of $10,000.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 55, Independence, Phase One, a subdivision according to the plat thereof, as recorded in Plat Book Book 41, at Pages 44 thru 46 of the Public Records of Collier County, Florida. (1205 Allegiance Way, Immokalee, FL 34142) 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 ! J-I-h day of JIil)I.l() I , 20ll. ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to fonn and legal sutlifiency: /, A ~ Jeff. right Assistant County Attorney Agenda Item No. 16D4 January 11, 2011 Page 6 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3301 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 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Leticia Avelar to COLLIER COUNTY, recorded September 29, 2005 in Official Records Book 3900, Pages 2679, of the Public Records of Collier County, Florida, securing a principal sum of $10,000.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 50, Independence, Phase One, a subdivision according to the plat tbereof, as recorded in Plat Book 41, at Pages 44 tbru 46 oftbe Public Records of Collier County, Florida. (1185 Allegiance Way, Immokalee, FL 34142) 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 JJ..!: day of I J an utO' +_' 20 II. ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal s.u~ency: . {I - J ------:S:L IeffE.~ght Assistan County Attorney Agenda Item No. 16D4 January 11, 2011 Page 7 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3301 E. Tamiarni 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 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Jose R. Linares & Marioly Baez Alfonso to COLLIER COUNTY, recorded September 13, 2005 in Official Records Book 3888, Pages 3583, of the Public Records of Collier County, Florida, securing a principal sum of $10,000.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 15, Block 194, Golden Gate, Unit 6, a Subdivision, according to the plat thereof, as recorded in Plat Book 5, at Pages 124 through 134, inclusive, of the Public Records of Collier County, Florida. (2291 Hunter Blvd, Naples, FL 34116) 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. , I Dated this ~day Of~, 2011 ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal suffisjency: . ....--f'I , .. : Tl- t! __..___.'--- ~ Assis t County Attorney Agenda Item No. 16D4 January 11, 2011 Page 8 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3301 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 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Delma S. Harding to COLLIER COUNTY, recorded September 22,2005 in Official Records Book 3895, Pages 3765, of the Public Records of Collier County, Florida, securing a principal sum of $10,000.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 62, Independence, Phase One, a subdivision according to the plat thereof, as recorded in Plat Book 41, at Pages 44 thru 46 of the Public Records orCoUier County, Florida. (1235 Allegiance Way, Immokalee, FL 34142) 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. I Dated this JI!!:day of J tI." C1 a ^f ,201 J. ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal sufficiency: /J "'~ ~ Assis t County Attorney Agenda Item No. 1604 January 11, 2011 Page 9 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3301 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 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by Anita Zepeda to COLLIER COUNTY, recorded September 07,2005 in Official Records Book 3884, Pages 3922, of the Public Records of Collier County, Florida, securing a principal sum of $10,000.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 49, Independence, Phase One, a subdivision according to the plat thereof, as recorded in Plat Book 41, at Pages 44 thru 46 of the Public Records of Collier County, Florida. (1167 Allegiance Way, Immokalee, FL 34142) 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 I t-fhday of ~ D.rJUOJI1 ,2011. ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal s ciency:_ Jeff Assi Agenda Item No. 16D4 January 11, 2011 Page 10 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3339 E. Tamiami Trail, Suite 211 Naples, FL 34112 THIS SPACE FOR RECORDING SATISFACTION OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by LUCILLE BOYLAN to COLLIER COUNTY, recorded January 24, 2005 in Official Records Book 3720, Pages 3319, of the Public Records of Collier County, Florida, securing a principal sum of $4,255.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Unit 202 of Naples Trace, a Condominium, Phase I, according to the condominium declaration thereof on file and recorded in Plat Book 1455, at Pages 278 through 344, of the Public Records of Collier County, Florida. (2395 Naples Trace Circle, Apt 2, Naples, FL 34109) 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 IlfI'day of ....J (;.." t1 0..'- (.,1_' 201 r . ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal ~ency: . ~ Jeff E W. Ight Assistaftt County Attorney Agenda Item No. 1604 January 11, 2011 Page 11 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3339 E. Tamiami Trail, Suite 211 Naples, FL 34112 THIS SPACE FOR RECORDING SATISFACTION OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by PATRICIA LANE to COLLIER COUNTY, dated October 5, 2005, recorded on November 1, 2006 in Official Records Book 4131, Pages 1099, of the Public Records of Collier County, Florida, securing a principal sum of $8,240.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 10, Collier Village, as recorded in Plat Book 17, at Pages 60- 62, of the Public Records of Collier County, Florida. (620 Hope Circle, Immokalee, FL 34142) 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 I/..f'l day of _ I rll'l " r. ..., A '..:'" ._~. 1 ,2011, ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal su . ency: ~ Agenda Item No. 1604 January 11, 2011 Page 12 of 58 Prepared by: Priscilla Doria Collier County Housing, Human & Veteran Services Department 3339 E. Tamiami Trail, Suite 21 t Naples, FL 34 t 12 THIS SPACE FOR RECORDING SATISFACTION OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is 3301 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain Mortgage executed by LESVIA MARTINEZ to COLLIER COUNTY, dated October 10, 2005, recorded on February 1, 2007 in Official Records Book 4177, Pages 2763, of the Public Records of Collier County, Florida, securing a principal sum of $14,300.00 and certain promises and obligations set forth in said Mortgage, upon the property situated in said State and County described as follows, to wit: Lot 33, Block 6, TraiTord Pines Estates, Section One, according the plat thereof, recorded in Plat Book 10, at Page 99, of the Public Records of Collier County, Florida. (1802 Sherman Avenue, Immokalee, FL 34142) 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 JJ.!!:day of -J D..nuo.r.r , 2011. ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: , Deputy Clerk By: FRED W. COYLE, CHAIRMAN Approved as to form and legal suffi iency: Retn: m TITLI SIRVICES IRC 10100 DBBR RIm FARIIS RD '202 FT KYlRS FL 33912 THIRD MORTGAGE 3711639 OR: 3905 PG: 1555 RECORDED in the OFFICIAL RECORDS of COLLIER COUII1Y. FL 10105/2005 at 03:18PM DWIGHT E, BROCl. CLERl Aaenda Item No. 16D4 ~ January 11, 2011 Page 13 of 58 OBLD OBLI RBC FBI DOC-.35 m-.002 10000.00 10000.00 35.50 35.00 20.00 THIS SECOND MORTGAGE ("I' _....._ I_r)..., on September .2005. The Second Mortgagor is: Marjorie J. Abraham, 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 2800 North Horseshoe Drive, 1400, Nap~es, F~orida 34104. Borrower owes Lender the sum of Ten Thousand and No/l00the Dollars (U.S. S 10,000.00 ). This debt Is evidenced by Borrower's Note dated the same date as this Security Instrument ("Second Mortgage"), which provides for monthly payments, with the full debt, If not paid earlier, due and payable on s.le of property, refinance, or lo.s of ho.estead exemption . This Mortgage will be foralven at the five (5) vear annlversarv date of mortaaae. 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 under 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. For this purpose, Borrower does hereby second mortgage, grant and convey to Lender the following described property located in Collier County, Florida. As more paJ1icularly described as Lot 12, Block 1, BurdBle, Collier County, Florida and which has the address of: ("Property Address"): 2695 L.inwood Avenue, Naples, Florida 34112, Folio .25080320002 -----...... TOGETHER WITH all the Improvem~~~~~~? on the property. and all easements, rights, appurtenances, rents, royalties, mineral, oil)il'1~~lghts and prOfi~.~tEl( rights and stock and all fixtures now or hereafter a part of the property. All replace,qentS and additions shall al$6oe-covered by the Security Instrument. All of the foregoing is referred to in this Security 1!l$trup(~"Proper1i. \ \ BORROWER COVENANTS tlfclt Biorro~laWf,ll.!!y s~jze~ of therstate hereby conveyed and has the right to mortgage, grant and convey the Pro~rty l:Jn9Jb~ t~~\!nenctJ~re~ except for encumbrances of record. Borrower warrants and will defend generafr trlijl6 ti'tb€~N~ llg~$( all d"lims and demands, subject to any encumb~~~~~g~~ INSTRuMJ,.,n:: bombineLlrrbJ ~~n~ fXnJt(on~1 use and non-uniform covenants ~.~th limited variation by jurisdiction to cons,i~~.,auniformSeCUrity insr.ume~t cof~g real property. UNIFORM COVENANTS. Bor~ower and Lender covena.!!i.<lndagree,a~ follows: <~ ~i\r..: / ,/0/ 1. Terms: The Borrower) of thi~..vort~ge have been grante~,fi "Oe(erred Repayment Loan," the terms of which are intended to ensure that any American ~m:~payment ![1itiatiV~~ADDI) funds utilized to facilitate the purchase of this Property are recaptured and utilized to assi((ag~~joy;r~n@1ne.home owner unless the affordabillty requirements are met. '-~.~~"::.../ The terms of this Mortgage do not require that payments be made as long as the makers comply with the following conditions and provisions: Borrower shall occupy the Property as their principal residence. Subletting of the Property is not allowed even on a temporary basis. Failure to abide by the principal occupancy requirements can result in foredosure. The Borrower shall be required to submit proof of prinCipal occupancy to Collier County on an annual basis beginning on the anniversary of the first-year occupancy and annually until the end of the amortization period. Such proof shall include: proof of homestead exemption. If the Borrower fails to provide sufficient proof of occupancy in a timely manner, the Lender may contract with an independent title company to perform the necessary title re-certlfication, the cost of which will be added to the principal amount of this Mortgage. In the event the Borrower cease principal occupancy, transfer, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage prior to fulfilling the agreement and the end of the amortization, then the principal amount of this Mortgage shall become immediately due and payable based on the repayment schedule. The Borrower shall not refinance the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there will be sufficient equity after the proposed refinancing to recapture the ADDI monies. The Lender consents to any agreement or arrangement in which the First Lender waives. postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall im mediately contact the Lender to obtain approval should they desire to transfer, assign. sell or in any manner dispose of all or a portion of the Property, which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the affordability period, according to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The Lender shall have the authority to disapprove any disposal where the proceeds of such would be less than fair-market value as determined by an independent appraisal by a State Certified Residential Appraiser. If there are no net proceeds from the foreclosure. repayment is not required and ADDI requirements are considered to be satisfied. In the event of the death of the Borrower(s) prior to expiration of the, affordability period has been attained, all of the debt will be forgiven. 2. Taxes. The Mortgagor will pay all taxes, assessments, sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall payor cause to be paid, as the same respectively become due, (A)(1) all taxes and governmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respect to the Property, (2) all utility and other charges, including "service charges", incurred or imposed for the operation, OR: 3905 PG: ~a Item No. 16D4 January 11, 2011 maintenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other governmJfimge 14 of 58 charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to payor cause to be paid only such installments as are required to be paid during the term of the Mortgage, and shall, promptly after the payment of any of the foregoing, forward to Mortgagee evidence of such payment. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applied; first, to interest due; and, to principal due; and last, to any late charges due under the Note. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph, and all receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over the Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, 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 carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. At all times that the Note is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto, including, but not limited to , all-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 times 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 a~b!.e to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and, J, e.(i~s(l!~eqUireS, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notice.s:",.rn).I)e~Rt:Qtld~A,9I"'q~er shall give prompt notice to the insurance carrier and Lender. Lender may make proof:P(!b~'lfr,ot made prompt~l?Y'aorrower. Unless Lender and Borrower othetWls~,agree in writing, insurartcfpr~eds shall be applied to restoration or repair of the Property damaged, if the re,s'torati~Tepair is econp.mically'feasible and Lender's security is not lessened. If the restoration or repair is not economicallY feasibte,Dr L!itnder'S"~curity would\oe lessened, the insurance proceeds shall be applied to the sums secured qY thif ~~jlY..,J~,~~Jtlw.l; Qf;~ot t~en due, with any excess paid to Borrower. If Borrower abandons the pro~ oNtbes ~t~n~er wl\t1ih 30 days is notice from Lender that the insurance carrier has offered to settle a claim, thEm L~nd:er may bOllecJ th~nsur3hc~Jprdceeds. Lender may use the proceeds to r~nal'r or r~"tor~ th~ prn~' or tn p'" \ cffim', c:. "'-7'{~M Uth/., k..'i.1lOri", lil.",i, 'me' Fir; I"h..thor ". "0' 'h"n n, ,.. Tho 30..A",,, ''''''r- -''''~_-':..J .-;-r-'1~7- -- -Y:"'!-...-...J~.~~.,J:...JS-;'-;:'_M.~""''''O;A~~_I'I,J'yr.''''''''''''"''''''I..'_''W'''_. ",- _......} period will begin when the notice is mallea\ Unless Lender and BW. rrroolwet ot,l'Jetvl,i!>e agree in writing, any application of proceeds to principal shall not extend ot,'Pqstpone the due date o~montli~~yments referred to in paragraph 1 or change the amount of the payments. If i:Jfid~''Paragraph 21 the Pr'op~~.i~"aGqoired by Lender, Borrower's right to any insurance policies and proceeds resulting l{Orl;l_Clamage to the Property.,priOr.j6 the acquisition shall pass to Lender to the extent of the sums secured by this Security )nst~~Rt immediatElIyJii~ 19.the acquisition. 6. Occupancy, Preservation, Maintena!lc'e.~~o?tOfthe Property; Borrower's Loan Application, Leaseholds. Borrower shall occupy, establish, anChlse.:tt1e.:ErbPertY as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower 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 Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the provision of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 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 date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain 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 1055 OR: 3905 PG: A5~~da Item No. 1604 ~ January 11, 2011 reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required, at the option of Lender, if Page 15 of 58 mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the 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 fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amount of such payments. 11. Borrower Not Released, Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Succenors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to th~ PrOv!siOns of. paragraph 17. Borrower's. c~~~~~~n.ts ~h~1I be j~int and. several. Any Borrower who co-slgns thIS SecUrity Instrument but does not~eC\lte . ~e~!Il~ ~Ignrng thiS Security Instrument only to mortgage, grant and convey that Borrower'/s1/:l@'~rii, the property'Url~~e terms of this Security Instrument; (b) is not personally obligated to pay the sums secureM-f(lhls Security Instrument;,ancNc) agrees that Lender and any other Borrower may agree to extend, modify, forbeah;InTTake--e.!J.Y.ac~modatlons with regard to the terms of this Security Instrument or the Note without that Borybwel's ~Bt. " - \ \ \ 13. Loan Charges. If the lo~ sep~::b~ }hl~~~l\'I:tmea,~ su~ject to a law which sets maximum loan charges, and that law is finally interprEited "0~at'tbetterestol\~thEir10aO(thargeS collected or to be collected in _L!1 I l' , _t::..,/ \>, " ' I connection with the loan exceed the I'fr.!!'i~t ,limitS. \ ejl1: ~al ~:y'suc~ lor.n ~~qe shall be reduced by the. amount nece~sary ,to .red~ce the charge to the\P:!T1t+~tnlt;...and{~, .sum~r:e~,~V9nected from ~orrO."Yei :n-h,lch exceeded permitted limits Will be refunded to Born5wel;. Lender may choos~to ma~e t~Is:rElfund by redUCing the pnnclpal owed under the Note or by making a direct pa~nt to Borrower. If a ret4Dd reduC:es.princiPal, the reduction will be treated as a partial prepayment without any prepayme"t(1)Clrge under the Note)'\.) ,/~ ":--;1 14. Notices. Any notice to Borrow~r pf;ovided for in this Secur!W-.lnstrument shall be given by delivering it or by mailing it by first class mail unless apPlicable.~~vI(r~r:eq~.-9f..a!lpfherjn~thod. The notice shall be directed to the Property Address or any other address BorroweNjeS[g9ateS'bXfiOlice:to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this Paragtaph..!~.:->/ 15. Governing Law; 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 affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in It is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of 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 shall give Borrower notice of acceleration. The notice shall provide a period of not 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. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower 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 a judgment enforCing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures and default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer") that collects monthly payments due under the 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 law. The notice will state 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 law. Witness#1 : *** OR: 3905 PG: 1~ctP1~m No. 1604 January 11, 2011 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or rrr~~ 16 of 58 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 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 learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health. safety or environmental protection. 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorney's fees and costs of the title evidence. 22. Release. Upon payment of 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 attorneys' fees awarded by an appellate court. ~ /;{1~OfJiv~ SIGNING BELOW, Borrower accepts and agfeesyo.the terms a~ve,~cnts. contained in this Security Instrument and in any rider(s) executed by Borrower and rrrMe~.~th it. ,~ \\ I / '4 -v',\ Signed, sealed and delivered i presen~ of~ -~___~ \ ' ! I . ] '--~~ ~~~~ )7) ! . /.:;l. A ,I ,( r \ JSjg~tu'e: \ 'ff 'LA. (~ I . 'I~ I \ I /1 \ Ij ) j ) orr~w~r r Ma1Jor::r...6. Abraham V\ f L' I "', 11~t?:: ....../ \.. \.../ .i _~ t : r- I L a...-\.\"..L.......\ \ - '''"'~ ~ ~ c-~ !..I""y-"J 'Or I f.......,1 \\. \\ l.( i-'ll ,.,..,..., \ ~.., I ..... I \ \ > '.${.na,u~ec,! \ (/(_ '" Co-''8Q(ro~er \,~ ' A"..' '. "....".. ."- , . ':\. .... / "',-'e-~- _- -'" \/ "'-.JJrii:d~re.~;(2~~5 Linwood Avenue --:.:'-'::::"':'':'---Naples, Florida 34112 Signature: Witness#2: Signature: STATE OF FLORIDA COUNTY OF Ld....L.e~ 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, personally appeared Marjorie J. Abraham to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before me that (Hel shel they) executed the same for the purpose therein expresseq. . . ~ e &tf1 c'w &J Pt:...Cdu.Cm ci~\!eJeS L-t ce.NSL C-1S Ie W~)SS my hand and official seal in the County and State aforesaid thi~ay of l~pt. 2 . " tL (Seal) ~.... a\. Jackie Olmsteo ~~ ~ MyCommlsSloc,DD129992 .,. Of...' Expires JWl'"lP 10 200F. My Commission Expires: File#: HM05-06-003 FOURTH MORTGAGE 3693598 OR: 38S4g~Gia laSiNo. 1604 RlCOIlDID in OmCIAL mOlDs of COLLIHa'OlIInr,YlO 1 , 2011 09/01/2005 at 02:18PK BrIGII'l' I. SlOCl, muage 17 of 58 OBLD 10000,00 OBLI 10000.00 m PI! S2.50 DOC-.35 35.00 THIS FOURTH MORTGAGE ("Security Instrument") is given o~ ,5', 2005. The Fourth Mortgagor is: Junie Annand, A. Single Person Retn: KOORl i mSLII 1101 II WIOI AVI 1m pom GORDA PL mso ("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 2800 North Horseshoe Drive, '400, Naples, Florida 34014. BorrowerowesLenderthesumof Ten Thousand. and. No/l00tha D01lars(U.S.$ 10,000.00 ). This debt is evidenced by Borrower's NDle dated the same date as this Security Instrument ('Third Mortgage"), which provides for monthly payments. with the full debt. if not paid earlier, due and payable on sale of property, refinance, or ~oss of hOlll8at:ead ex_ption . 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 under paragraph 7 to protect the security of the Security Instrument: and (c) the perfonnance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby Fourth Mortgage, grant and convey to Lender the following described property located in Collier County, Florida. As more particularly described as Lot!ili, Independence, Phase I, Collier County, FIOI'tda and which has the address of: ("Property Address"): 1205 A11eqiance Way ,Immokalee, FL 34142 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. eXClI!eUQLeo.(1!J!!lbrBnces of record. Borrower waFTBnts and will defend generally the tilIe to the Property against all claims and demands, s~llY e~~ of record. THIS SECURITY INSTRUMENT combines .u. ~.if<1. ~v~'ts:!QL~li~a! '~. and non-unifonn covenants with limited variation by jurisdiction to constitute a unifonn security instnJmen~>l'l!al property. ~V f,0 UNIFORM COVENANTS. Borrower and~-dovenant and agree as fill~ 1. Payment of Principal and Interest"t>re'paYment and llIte Charges. . ~"o$hall promptly pay when due the principal of and interest on the debt evidenced by the Note. / I ~f\ \ \ 2. Tu... The Mortgagor will pay aiL 'taxer' ass!iiiSmems.. ,sewer rents 'Or water .l'ates prior to the aocrual of any penalties or interest . L......- '~\ ' thereon. I ~, ~, 'V\ \ The Mortgagor shall pay or cause toibe~, ~~~~Y'IY be. ,jlU\l, (AI,(1) all taxes and gov:mmental charges of any kind whatsoever which may at any time be lawfully ~ssessedi or lev~ aglllr$loGf ~ respe~ to the Property, (2) all utility and other charges, including "service charges", incurred or im~t''t~,~~oil,Jna.irit~n8i?ce, U~j oQcup8!iGY,! upkeep and improvement of the Property. and i3) aU assessments or other governmental chli,rges ~ilt-mliy laWfollfbe 'P'Bfttl~ instiillmenls!~/a period of yelllS, the Mortgagor shall be obligated under the Mortgage to payor cause td'9,e P,8id only such installmenll(~S are) req\,i~\o be paid during the tenn of the Mortgage, and shall, promptly after the payment of any of the fc , ' .g. forward to Mortgag~~ce }If..$ot;ti payment. 3. Appllc:atlon of Payments. Unless' . ' bIe law provides otherwf~~n payments received by Lender shall be applied; first, to interest due; and, to principal due; and last. to any. .. es due under the Note./" "-j/ 4. Charges; liens. Borrower shall pay all.taf'eS~ssments, cha~::.!il;les and impositions attributable to the Property which may attain priority over this Security Instrument, and leasetioIdJ)aY~JS;:l?"-g.~.,. _.'." rents;.' "..If-any. Borrower shall promptly fumish to Lender all notices of amounts to be paid under this paragraph, and aR~fPI's_~vid,!!n!:ingJtle-payments. Borrower shall promptly discharge any lien which has pnority'ilver1liis Security Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detennines that any part of the Property is subject to a lien which may altain priority over the Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or herellfter erected on the Property insured against loss by fire, hazards included within the tenn "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 be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. At all times that the Note is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto. including, but not limited to . all-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 unifonn standard extended coverage endorsement, including debris removal coverage. Such insurance at all times to be in an amount not less than the full replllcement 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 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, if the restoration or repair is economically feasible and Lender's security is not lessened. If 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 then 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 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 3O-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. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borro_r's Loan Afapllcatlon, Leaseholda. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year aller the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond 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 Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security OR: 3884 PGAg~~~~ Item No. 1604 . January 11, 2011 interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismi~8ilge 18 of 58 with a ruling that, in Lender's good faith determination, precludes forfe~ure of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower 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 alrlnection with the loan evidenced by the Note. including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Secur~y Instrument is on a leasehold, Borrower shall comply with all the provision of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights In the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become add~ional 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 Lender to Borrower requesting payment. 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If. for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain 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 onErtwelfth 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, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the lime of 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 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 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 fair market value of the Property immediately before the taking. Any balan~'\~fi1l00'Q..wer. In the event of a partial taking of the Property inwhich the flllr market value of the Property Immediately beforeAlie;~'lgg.rlNess lba" the'l!II:\1Ount of the sums secured Immediately for the taking, unless Borrower and Lender otherwise agree in wri~i~,u~~61e'I8W'~"~li.e provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or nqrll1eoo6\Jms are then due. UnleSste"pdBr..and Borrower otherwise agree in writing, any application of proceeds to principal shall not extendbr"POstpone the due date of the monthl~payments referred to in paragraphs 1 or change the amount of such payments. / / ~'-- r'"I \ \ 11. Borrower Not Released, Forbearance B)"lenQer HI?! a WilVe~. Extensipn ol\the time for payment or modification of amortization of the sums secured by this secUrity Jh~.tw.llY!,nt g~ iW..Leo.d, ,.erllc-aQ!, ~sSor in interest of Borrower shall not operate to release the liability of the original Borrower 'BorflJWllr~s~ fs,jrl)jnt~-eS\ "Ij..er.'shall nbt be required to commence proceedings against any successor in interest or refuse :I,ext1r, . d, ~me f~r ppy~, en, t cr, ~,~er.Wi~ rTi ify, lamorkization of the sums secured by this Security Instru.ment by r~of any ~e":la~d ~~de '~Y,'.IlJ~~~~:!~~~,rJf +o{ftlwers ~uc?essp~!~ interest. Any forbearance by Lender in tlxtlfClSifoy any ngm ur remeoy snail nol De a,walVer Ol-Q('-precIUll&me 'Illlerelse 01 'aIi!Y-fl9h.tll{J~eay. 12. Successors and Assigns Bou"$,Joint and Several Uablll~ Co-s'igner's:::::The covenants and agreements of this Security Instrument shall bind and benefit the succesSQrs\~ri~ assigns of Lender and~w~r, s~l)je<Wto the Provisions of paragraph 1 7. Borrower's covenar~'and agreements shall be j&lh't arid seVei~I'. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is ~Ig'ning this Security Instrumelit.ohl~)nortgage, grant and convey that Borrower's interest in the Property under the terms of this Security InS~ql.;ri):,~<<!tiS not personall;f-oQfi9~\e9to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower 1Ti'lll(.agree,P';:xtend.-motllfy;}Orbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that BorrOWer<S ,t#enCl\1.. \:;>.... 13. Loan Charges. If the loan secured by this Seculity:IRlot~ntls subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the ioan exceed the permitted limits. then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class 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 Law; 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 affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of 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 shall give Borrower notice of acceleration. The notice shall provide a period of not 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. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower 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 a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures and default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 1 7. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer") that collects monthly payments due under the 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 wrillen notice of the change in accordance with paragraph 14 and applicable law. The notice will state 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 law. lillII' OR: 3884 P~gJ.Wltem No. 1604 January 11, 2011 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Haz~~ 19 of 58 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 nonnal 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 regulatOl)' 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 Hazardous Substance affecting the Property is necess8l)'. Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents. materials containing asbestos or formaldehyde. and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant 0/' 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 further infonn Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender. at its option. may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21. including, but not limited to. reasonable attomey's fees and costs of the title evidence. 22. ReJe_. 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 attorneys' fees awarded by an appellate court. 24. Riders to this Security Instrument If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. (Check Applicable Box) o Rate Improvement Rider 0 Condominium Rider 01-4 Family Rider 0 Second Home Rider o Biweekly Payment Rider 0 Planned Unit Development Rider /.~\1~G ~ ~?--'--<~)>~ SIGNING BELOW, Borrower accepts and agr8e1'tcU~(enns and covenants conf\' 'in~his Security Instrument and in any rider(s) executed by Borrower and recorded with it. / / :;------.., \ I I :..~~ '-----"r'\ Signed, sealed and deliver~ in the presence of: ~.../'~ A Wltness#1: f/leJDJIlI ( VLM~ ~(~(\ SIg~~te~\ ? <: I J. Ii 1 14. I i\' . u' BbirQYl'el' IJunie ! Slonature' lVVuj.f..1/Jtv1 If /J~ \.....1 ./ J 'i' l i ,-.1 ... '..-'-\. """--' ~ ~ !.I"V'! \,, \ ~.... " i~/ Witness#2: Signaturl!,f" ; ~. I! Co- BorrC$er J J t'\ / S. . >~ /..............1 IQnature: " , ;./, 1..-., I " r, ~ / "'\. / "<::'.1.> ,<--..~.ddres;;.-:-j-{9's../Allegiance Way " I I! I:' ('I '8 \.IlDJIlokalee, Florida 34142 ~~-=-..::...:::.-..-- o Adjustable Rate Rider o Graduated Payment Rider o Balloon Rider o Other(s) (specify td STATE OF 'ti.IDA . COUNTY 0 itJ fv-.. 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, personally appeared Junie Armand to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before me that (He! she! they) exec !JUAN'" FLORES MY COMMISSION. DD 272381 EXPIR5S January 13 2008 80ndea T'l"tlNOlary PuDrIC ~rs the same for the purpose therein expressed. ~,oC~ ,20_. WITNESS my hand and official seal in the County and My Commission Expires: '-"V- ~ File#: 05-061 137/28/2885 14:49 23965791344 HABITAT FOR fUo1ANITY Ag~ Imm No. 1604 OR: 3884Jap~e~i~~ to./f3;\,.. ~}J Projed# HMO) - 001 PROMISSORY NOTE AMERICAN DREAM DOWNPA YMENT INlnA TIVE (ADDI) HOME INVESTMENT PARTNERSHIPS ACf (HOME) .0u.t DOWN PAYMENT ASSISTANCE PROGRAM Date: . ~ r:J OJ 2oos- Bornnrer: J".ie Anand 1205 AD-u.DCC Way (Property Address) IIBmob.lee (City) FL 34142 (State) 1. BORROWER (S) PROMISE TO PAY: IIWe promise to pay TeD ThOQllUld DoIIan ud DeIl80 ($10.000.80) (this amount will be c:al1ed "principal") to the order of CoDier CO"DfY or to any other holder of this Note (1bc "Lendcr"), whose addn:ss is 2800 North Honalaoe Drive ..... N.DIes. Florida 341.... I/We WlderstaDd that the Lender may transfer the Promissory Note. The Lc:ndcr or anyone who takes this Note by 1laD$fer and who is entitled to receive payments under this No(e will be called the "Note Holder". 2. TERMS: The maket(s) of this Promissory Note have been granted a "Deferred Repayment Loan," the terms ofwhicb are jntaJded to ensure tbat~C8D Drcam Downp8yment InitiaIM Program (ADDI) ~ds utilized to facilita1e the ~~ ~~recaptured and utilized to assist another low- moome homeowner UDless ~~~.ftibleDts are .et. // all ..~ /' .~ The tenDS .(this Note do.o~ire that paymeats be .aa~.J;'io~ as lite .aken eomply with the feUcnriag eo8ditiou -'~s: \ \ Makcr{S)sbaIlOCCUPY+~.I/ '~~their. ~J:!klC_.' '~i~~. SUb.I~?~thePropertyisno.tallOwedeven on a temporary~. FI!i)Wytb~ ~'~~~C;;;;:>~wrements can result m foreclosure. The Maket(s) sball!bc: ~ to ~~t ~ :'lf~~tz..:.L;to Collic:r County on an annual besis belzinninl! on the 1IIDWe&ari of thb fust-~ear ~;;;~ r;Jdbubltil the end of the amortization period. Sucb proofi~ ~?' ~fhc5:m~ ot~oir. Ifth;:~s) fail to provide sufficient proof of occupancy~n......,.timely manner, the County'W' co~tracf~/an independent title company to perform the ~titl~ ~cati the cost ~chlwill~~ to the principalamouot of this Promissory Note. \~~~ on. ~\...)~/lJ;/ In the the 'to1_Ler() -.....: r) "''-........1.................... ---~'\,... . A:_ fall event ~ s CC8SC$.~CI~...::t.::::::p_u.aa.~en,- !:CdS or In any manner ~ 0 or a portion of the Propertywbicb i~i'f~~ ld~~this Notcpriorto fuUillingthe ag.~t aIlCi the end of the amortization, theii~mw.:.mowit of this Note shall become immediately due and payable based on the repayment schedule below. The Makcr(s) shall DOt refmance the indebtedness :JCCUlCd by this Promissory Note. The County prior to granting approval shall review the proposed refirumciJJg in order to ensure that there will be sufficient equity after the proposed refinsocing to recapture the ADD! monies. The Note Holder CODSeI1ts to 11I1)' agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Maker(s) shall immediately contact the County to obtain approval should they desire to transfer. assign, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage securing this note prior to fulfilling this agreement and the end of the amortir.ation period. Contacting the Lc:ndcr will also ensure: that the Security Instrument may be appropriately reduced incrementally for aa:h year of the affordability period. according to an amortization schedule based on 1he anniversary date oftbe datethc mortgage was recorded. The County shall have the authority to disapprove any disposal where the proceeds of such would be less than fiUr-marlcet value as determined by an independent appraisal. by a State Certified Residential Appraiser. In the: event of II. sale, or refinaDcc oftbc fU'St mortgage, the: proceeds of such shall be applied as {otlows: a If the sales price is sufficient, the proceeds will be applied as follows: 1) flI'St to pay offtb: balance of the 1 e7/26/2665 14:49 2396579644 HABITAT Fffi I-Uo1ANITY Aa~ It~ No. 1604 OR: 3g84Jcp~~e~~~~~ First Mortgage, any closing costs, and advances by the Mortgagee; and 2) the balance of the Mortpge representing the full subsidy as referenced by this Note. If there are no net proceeds from the foreclosure, repayment is not required and ADDI requirements arc considered to be satisfied. 3. b. If the Maker(s) comply with the principal occupancy requirements and do DOt transfer, assign, rcfiDancc. sell, or in my maoner dispose of all or a portion of the Property which is subject to the Mortgage securing this Note, then the eatire IUID dae and payable ac:cordial to the term, of the Note wiD be eoDSidencl paid ill ...0 at the Old of tile .-ortization period ....hidll is 5 years. PAYMENTS: Principal payments shall be defcmd until transfer of tide. sale oforoDCrtV. ~fi~ or loss ofhomestcad cxenwtion. or until the five year lIffordability period is over, whichever happens first. The recapture clause is as follows: Days 1 through 365, 100010 oftbe principal amount is due, days 366 through 730,80% of the principal amomrt is due, days 731 through 1,095, 60% of the principal amoum is due. days 1,096 through 1,460,40% ofthc principal amount is due, days 1,461 through. 1,824,20-.4 oftbe principal amount is due, and day 1.824 and after 0% of the principal amount will be due. These amounts will DOt be pro-ratcd on a per diem basis. BORROWER'S R1GBTTO PREPAY: I/We have the right to make payments ofprincipaI at any time before they are due. A paym~~~. . wn as a "prepayment". When J/We make a prepe:yment, llwe will tell ~~.~. .. ~. ." . ~~.~ am doing so. J/We may make a full prepII)'1DCDt or partial ~")O(.ebilge. The Note Ol~~,use all of my prepayments to reduce the amount ~fthc pri~c~.J)r~ under this Note. (fIrWe,~'~ partial prcpayJDCJJt, ~ ~ ~.no changes m the due date or 1:?::6... .....nuol~f my monthly payment un1e$s the Note Holder agrees m wntmg ::=..~r~M1nor--~roM LOAN CHARGJ,: uI. It.0aQJ.. .:~.h~. 'es.ri~1 "'~\f~scts maximum loan c:barges, is finally interpreted so that ~';~J~ c~g~lI~ ot to 1)e-coQccted in coaoection with this loel exceed the penni~~~ (~~h~~ ~ by the amount. necessary to reduce the chargcs~"JhApemntted limit; and (n) iD.~ sums ~CPl1ected from me which exceeded pennitted limits will\b$,~ to melus. The N~~dcf maY~se to make this refund by reducing the principal that J/We ~ ~dcr this Note or by ~1i ~yment to mc:Ius. If a rcfuDd reduces principe), the reductimi~(j'~ as a partial p~~t/ ~,^ ~~- ,-<'\...\~./ DEED IN LIEU OF FORE~t.osfJRF.t;F~.~e;>.mllor Lien Holder acquires title to the Property pursuant to a deed in lieu off~ Iicn~ . ..SSccurity Instrument sball automatically te:rminatc upon the Senior Lien Holder's acquisition of title, provided that (i) the Lender bas been eiven written notice of a default UDder the First Deed ofTrust and (ii) the Lender shall not have cun:d the default under the First Deed of Trust within the 30-day pc:riod provided in such notice sent to the Lender. 4. 5. 6. 7. BORROWER'S FAILURE TO PAY AS REQUESTED: (A) Default lfI/we do not pay the full amouot as required in Section 3 above, IIwe will be in defauh.lfl am in default, the Note Holder may bring about any actions not prohibited. by applicable law and require melus to pay the Note Holders cost and c:xpcnscs as described in (B) below. (B) Payment of Note Holder's Cost and Expenses If the Note Holder takes such actions as described above, the Note Holder will have the right to be paid back for all of its costs and expenses, including, but not limited to, reasonable attorneys' fees. 8. GIVING OF NOnCES: Unless applicable law required a different method, any DOtice that must be given to me/us under the Note will be given by delivering it or by mailing it by first class mail to me at the Property Address on Page 1 or at a different addtess if Uwe give the Note Holder a notice of my/our different address. Any notice that must be given to the Note Holder Wlder this Note will be given by 2 67/26/2665 14:49 2396579644 HABITAT FeR f-Uo1ANITV AgeP.'AGa It&lrl No. 1604 *** OR: 3884 Jp~:~3W~~~** mailing it by first class mail to the Norc Holder at the address stated in Section 3(A) or at a different address if I/we have been given a notice of that different address. 9. OBLIGA nONS OF PERSONS UNDER THIS NOTE: Ifmore than one pcmoo signs this N~ each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any per$)n who takes overtheae obligations, including the ob1iptions of a guarantor. surety or endorser of this Note, is also obligated to keep aU ofttle promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against .11 of us together. This means that any one of us may be required to pay all of the lID1OUf1t:s owed UDder this Note. 1 O. WAIVERS: I and any other person who lw obligations WIder this Note waive the rights of ~tment and notice of disbooor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the right to require the Note Holder to give notice to other persons that amoUDts due have not been paid. 11. UNIFORM SECURED NOTE: This Note is a unifoItD instrument with limited variations in some jurisdictions. In addition to the protection given to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the "Security lnstrumentj, da1ed the same date as this Note, protects the Note Holder from possible losses which might result ifI/we do not Iceep the promises wbich J/we mate in this Note. That Security Instrument describes how and under what conditions IIwc may be required to make immediate payment in full of all ~~~ this Note. Some of those cooditions are described as follows: /~JEK. LOU~ Transfer of the Pro~/<(~~>;aU or any part of the property or any iotc:rest in it is sold c,f ~errcd (or if a beneficial in~ in ~m>wcr is sold or transfem:d And Borro'Wet'is not a ~ ~. I r lwithOut'i..endeCs~~ writtcn'oposc:~ Lender may, at itl\ option, require immediate paymentAn fui( or ail YJn. pytbis security ~ However, this option shall not be cxercised by Lexider ~~r' , 'bi~fth~,date of this Security Instrument If Lender .jth. (f. ( ~ Ju' I ~ \ \II} 1 . The . sball 'de . . ~en:l. \ ~.~on..'\..' h~ .~ I ~ 'VP:1E-:~~'fO~OI.~. L~~ ~l~c:e 'lb' prowh~ h Ii. pcnoa 01 not I~~ ~~U}@~m'~ ~,tlm1<; ~ 9tJUVere<1 or ~ ....... WI In Ie Borrower must IJ:1IY\~rswns secured by this ~ Instnifnent/~orrower(s) fail to pay these sums prior to the cXPiraI\ct,!i':J\ this period, Lender ~~UlVo~ ~~Cd.ies pcnnined by this Security Instnanent without ~.. nptice or demand on Borrq~.1 /~ 0.// \j-. ~ '-i < \~.,> Notwithstanding the abo~ @ 4n4~s rights to OOll~,~1pplt the insurance proceeds hercundc:r shall be subject and subordinate ~:itic rl~'of. ~S~'Eh::t~ f.t()1der to collect and apply such proceeds in accordance with thc First Deeddf~~:::'/' 12, This note is govel'lled and roastned in aCC!Ordan&:e with the Laws of the State of Florida. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. -. .-~ (V\^ (L!t1A /J1I7~ (Seal) Boriowcr: ]unie Armand (Seal) Borrower: RETURN TO: Collier County Financial Administration and Housing Department 2800 N. Horseshoe Drive #400, Naples, FL 341 04 Phonc: (239) 403-2338 Fax: (239) 403-2331 Project# HM 03 - 002 3 foY . ~2..s0 $ ,0. " $-0 Recording Documentary Stamps Intangible Tax FOURTH MORTGAGE 3707392 OR: 3900 t~: 29]9 ~o 1604 RECORDED in omCIAL RECORDS Of~tjtr:rB~I~,rl~~!t11' 2011 09/2S/2005 at 02:51PK DIIIGllT B. BROCI, 'tfti/tt ry .?3 f 58 OBLD iowq~o-- 0 om 10000.00 REC FIB 52.50 DOC-.35 35.00 MOORE AND WAKSLER. P.L 1107 W. MARION AVE., STE. 112 PUNTA GORDA, FL 33950 Retn: KOORE KOORE & lIAlSLU 1107 II KARl OR AVE '112 pum GORDA !L 33950 5372 THIS FOURTH MORTGAGE ("Security Instrument") is given on ~ (5. 2005. The Fourth Mortgagor is: leticia Avelar, A Single Person ("Borrower"). This Security Instrument is given to Colli.er County ("Lender"). which is organized and existing under the laws of the United StatesofAmerica,andwhoseaddressis 2800 North Horseshoe Drive, '400, Naples, F~orida 34014. Borrower owes Lender the sum of Ten Thousand and No/l00th. Dollar. (U.S. $ 10,000.00 ). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument ("Third Mortgage"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on sale of property, refinance, or 10.. of hoae.t_d ex_ption . 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 under paragraph 7 to protecl the 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 Fourth Mortgage, grant and convey to Lender the following described property located in Co~lier County. Florida. As more particularly described as Lot 60, Independence, Phase I, Collier County, Florida and which has the address of. ("Property Address"): 1185 Allegiance Way ,rmmokal.., FL 34142 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights. appurtenances, rents. royallies, 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 /awfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and thBl 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, ~~m"brances of record. THIS SECURITY INSTRUMENT combines un!fonTi~)~ lor ~l!il1se and non-unifonn covenants with limited variation by jurisdiction to constitute a unifonn security instrument,~P.9-~---:: V;r,~. ,. UNIFORM COVENANTS. Borrower and IAnder'oovenant and agree as fo~,\ 1. Payment of Principal and Inlerest;'p""-,tnent and Latlt Charges. stXroweNlhall promptly pay when due the principal of and interest on the debt evidenced by the Note. I / ~ \ \ 2. Tax... The Mortgagor win pay all.iax~ a~, ~r renbor water rates p'rior to the accrual of any penalties or interest thereon 'I ,..--' \ \ \ \ . The Mortgagor shall payor cause to he P;j~.sa~ly~me'5i?~, (A)(1) all taxes and governmental charges of any kind whatsoever which may at any time be lavftullY ~~(or ~vied ag+i~WiIb r~Peclt to t~e Property, (2) all utility and other charges, including "service cha~s.. incurred or im~'ttte\~~~ryla~l1'lepance, use~ ~P~~,!upkeep and improvement of the Property, and i3; ail assessments or otner govemmental cna~ tnat-may laWfUliy1le Ilatd;" Installments ,over II penod of years. the Mortgagor shall be obligated under the Mortgage to pay or cause to~,.p.aid only such installmenlif'ls areirequf~l? be paid during the tenn of the Mortgage, and shall, promptly after the payment of any of the fQi69prng, forward to Mortga~idence of .5~ payment. . 3. Applicatl~n of Payments. Unless 8jlpt1~ble law provides OtherWlSe'!!9IJ,arrhents received by Lender shall be applied; first, to Interest due; and, to pnnapal due: and last, to any'ill$ chames due under the Note./,:. "-</ 4. Charges; Uena. Borrower shall pay all~~, ..ssments. cha~~ jilM impositions attributable to the Property which may attain priority over this Security Instrument, and leasehoiC!PiYlJ1~nts.or-gRllI'l-di'e~,:itany. Borrower shall promptly fumish to Lender all notioes of amounts to be paid under this paragraph, and alt~iP1S }M<!e~FlS~-PlIyments. Borrower shall promptly discharge any lien which has ~..oVer-thiSSecurity Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to lender subordinating the lien to this Security Instrument. If Lender detennines that any part of the Property is subject to a lien which may attain priority over the Security Instrument. Lender may give Borrower a notice identifying the lien, Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the tenn "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 carner providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's nghts in the Property in accordance with paragraph 7. At all times that the Note is outstanding. the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto, including, but not limited to , all-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 unifonn standard extended coverage endorsement, 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 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 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. if the restoration or repair is economically feasible and Lender's security is not lessened. If 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 then due, with any excess paid to Borrower. If Borrower abandons the Properly, or does not answer within 30 days a notice from Lender that the insurance carTier 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 3O-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. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's loan Application, leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to o=Jpy the Property as Borrower's principal residence for at least one year after the date of o=Jpancy. unless Lender otherwise agrees in writing. Which consent shall not be unreasonably withheld. or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal. is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security .. OR' 3900 PG~g~I3~~ Item No. 1604 , , 'OQ~nuary 11, 2011 and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith Page 24 of 58 determination, precludes forfeiture of the Borro.ver's interest in the Property or other material impairment of the lien created by this Security InstnJment or Lender's security interest. Borrower shall also be in defauit if Borro.ver, 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 Borrower's occupancy of the Property as a principaJ residence. If this Security InstnJment is on a leasehold, Borrower shall comply with all the provision of the lease. It Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. ProtlIctIon of Lender's RIghts In the Property. It Borro.ver fals to perform the covenants and agresnents contained in this Security InstnJment, or there is a legal proceeding thai may SignifICantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value rI the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which ha priority CNel'this Security InstnJment, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take ection under this paragraph 7. Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt rI Borrower secured by this Security Instrument. Unless EIorrt:Nver and Lender agree to other terms rI payment, these amounts shall bear interest from the date rI disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. S. MortgIIge 1naura11Cll. It Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. It. for any reason. the mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to obtain 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 aItemate mortgage insurer approved by Lender. It substantially equivalent mortgage insurance coverage Is not available, Borrower shall pay to Lender eech month a sum equal to on&-tweIfth rI the yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. Lender wil accept. use and retain these payments as a loss reserve in lieu rI mortgage insurance. Loss reserve psyments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the period thai Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borro.ver shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, untl the requirement for mortgage insurance ends in accordance with any wrtttan agresnent between Borrower and Lender or applicable law. t. 'rwpedlon. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall giva Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. CondemMtion. The proceeds rI any award or claim for damages, direct or consequential, in connection with any condemnation or other taking rI any part rI the Property, or for conveyance in lieu rI condemnation, are hereby assigned and shall be paid to Lender. In the event rI a total taking rI 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 rI a partial taking rI the Property, in which the fair market value rI the Property immediately before the taking is equal to or greater than the amount rI the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender othefwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount rI the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shaD be paid to Borro.ver. In the event rI a partial taking rI the Property In which the fair market Vliue rI the Property immediately before the taking is less than the amount rI the su~liifri;Y1,!'!:1edill.tely for.. the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the~~Uu 6e8gWill9l!'-the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borro.ver .91~~writing,:a6.Y\iPP/.~ion ct proceeds to principal shaD not exIend or postpone the due date rI the monthly payments referred to In ~ 1 or change the a~ gt.$~h payments. 11. Borrow... Not ReIeuecI, Forbearailc:*__' Lender Not a Waiver. Extension c:i{ the time for payment or modifICation of amortization rI the sums secured by this Security InstnJment ,granted IlYL-enclertp a~~s. or in irlterest 'QI Borro.ver shall not operate to release the liability rI the original Borrower or Borrower's successors ,in int~t.J.4:. shall . 'reQuired to ~mer.ce proceedings against any successor in interest or refuse to exIend time for payment or otherw\$8 ~I!Y..I! ~the sums secUred~ this Security Instrument by reason rI any demand made by the original Borrower or Borrower's s~~orstlll~ . 'fQrQeri~ bX L:~ in 8xercising any right or remedy shall not be a waiver rI or preclude the exercise rI any right pr rerfled.j. ( I 'j V) ~ VI \ I 12. ~rs snd ANig.. BoU~.JPi\~V~l~,~-s~ners. Tbe .cpvenants and agreements of this Security Instrument shall bind and benefit t~oe sUcce&Sarli 1iI'\i -.. . '-. df.U.Jdet atidlicnower~bjEK?i iiDr/El Provisions of paragraph 17. EIonower's covena,rI1S and agreements shall be joint and severar. /7fitY Borrower who co-signs this Security Instrument but does not elCBCUte the Note; (a) is CO-Signing1tllS;$ecUrity InstnJment only to~gage, g~,~ convey that Borrower's interest in the Property under the terms rI this Security Instrument; (b) is,npt personally obligated to pay1~ S~rTI,$/!l~Ured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to exI~(modify, forbear or make any ~mQ!lations with regard to the terms of this Security Instrument or the Note without that Borro.ver's consent. () ;-... ../1\ / 13. Loan Charges. It the loan secured by t~~nslnl[!)llOt..is-sul!illCtto"a law which sets maximum loan charges. and that law is finally interpreted so that the interest or other loan Charg8!fcol.~ (i('tq-bel~J!O:jr( connection with the loan exceed the permitted limits, then: (a) any such loan charge shaD be reduced by the amount neceSS8Iy~.lhe charge to the permitted limit; and (b) any sums already collected from Borro.ver which exceeded permitted limits WIll be refunded to Borrower. Lender may choose to make this refund by reducing the pnncipaJ owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by maKing it by first class mail unless applicable law required use rI another method. The notice shall be directed to the Property Address or any other address Borro.ver designates by notice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph. 1 S. Governing u.w; Seve...blllty. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event thai any provision or clause rI this Security Instrument or the Note conllicts with applicable law, such conflict shall not affect other provisions rI this Security Instrument or the Note which can be given effect w~hout the conflicting provision. To this end the provisions of this Security InstnJment and the Note are declared to be severable. 16. Borrower's Copy. Borro.ver shall be given one conformed copy of the Note and rI this Security Instrument. 17. T.......r of the Property or a Benefic:iallnterest in Borrowar. If all or any part of the Property or any interest in it is sold or transferred (or W a beneficial interest in Borro.ver is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option. require immediate payment in full of all sums secured by this Security Instrument. However. this option shall not be exercised by Lender it exercise is prohibited by federal law as rI the date of this Security Instrument. If Lender exercised this option, Lender shall give Borrower notice ct acceleration. The notice shall provide a period rI not less than 30 days from the date the notice is delivered or maied within which Borrower must pay all sums secured by this Security Instrument. It Borro.ver fails to pay these sums prior to the expiration rI this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Rel..tate. It Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the eariier of : (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale rI the Property pursuant to any power rI sale contained in this Security Instrument; or (b) entry rI a judgment enforcing this Security Instrument. Those conditions are that Borro.ver: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as W no acceleration had occurred; (b) cures and default rI any other covenants or agreements: (c) pays all expenses incurred in enforcing this Security Instrument. including, but not limited to, reasonable attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and EIorrt:Nver's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borro.ver, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shaD not apply in the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servic:er. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borro.ver. A sale may resuit 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 rI the Note. It there is a change of the Loan Servicer, Borro.ver will be given wrttten notice of the change in accordance with 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 information required by applicable law. 20. Hazardous Substances. Borro.ver shall not cause or permit the presence, use, disposal. storage. or release rI any Hazardous Substances on or in the Property. Borro.ver shall not do, nor allow anyone else to do, anything affecting the Property that is in violation rI any v ~n JI'IIlIlI" V' r OR: 3900 ig~n~~~tlm No. 1604 January 11, 2011 Environmental Law. The preceding two sentences shall not apply to the presence. use. or storage on the Property of small quantities of HaJi?~ 25 of 58 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 learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with EnvironmentaJ Law. Aa used in this paragraph 20. "HazardlXJS Substances" are those substances defined as toxic or hazardlXJS substances by Environmental Law and the following substances: gasoline. k~. other flammable or toxic petroleum products. toxic pesticides and hertlicides, lIOIatiIe solvents. materials containing asbestos or formaldehyde, and radioactive materials. Aa used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to hedl. safely or environmental protection. 21. AccelMation; RemecIIeL Lender shal 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 ctheIwise). 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 further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the l'lOIHllCistence 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 fill of HI sums secured by this Security Instrument without further demand and may fOl'llCloBe this Security Instrument by judic:ial proceeding. Lender shall be entitled to collect a1lll1pE1nSes incurred in pursuing the remedies provided in this paragraph 21, including. but not limited to. ~ attorney's fees and costs fA the title evidence. 22. ........ Upon payment of all surns secured by this Security Instrument. Lender shall release this Security Instrument, without charge. to Borrower. Borrower shall pay any recordation costs. 23. Attorneys' F_. Aa used in this Security Instrument and the Note. "attorneys' fees" shall include any attorneys' fees awarded by an appellate court. 24. RIden to tIW Securtty Ins~ If one or more riders are llXIlCUted by Borrower and recorded together with this Security ntrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplernent the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. (Check Applicable Box) .' o Adjustable Rate Rider o Graduated Payment Rider o Balloon Rider o Other(s) (specify o Rate Improvement Rider o 1-4 Family Rider o Biweekly Payment Rider o Condominium Rider o Second Home Rider o Planned Un~ Development Rider Signature: SIGNING BELOW, Borrower accepts and agrees to the tEll1'l1S-8ri1~tained Borrower and recorded with it. /' \ \.,--,1 "-, V U A / -:V;::.--- '--'..( I- "- /. q;: --......." ' ''-'' Signed. sealed and deI~ in the ence of: / G/ " .h ~ hI t /YI"'. :(t '-I ~ 'sionatIlr81, I . - "C- Borrow I! L , :\".n(CCI1~.., 1) Z./I .- '. \..". " ,-..:;, \~~ # \\ ~" } /';..) I \"tJ,,\ Address:%,:IJ~5( ~_1~~1UlC. Way \"~- '~ J:aiiOkaJ...', Florida 3UU ''',t!i>~,----:::(S\~'/ '>.,--::! II r: (' fV, ~~./ ...---~-=-~ I hereby certify that on this day, before me, an officer duly authorized in the state aforesaid and in the county aforesaid to take Wilness#1 : STATE OF FLO~A (II . COUNTY OF ~ acknowledgements, personally appeared Leticia A. Avelar to me known to be the person(s) described in and who executed the foregoing My Commission Expires: WITNESS my hand and officiaJ seal in the County ( instrument and acknowledged before me that (H& sha' they) executed the same for the purpose therein expressed. c~ . ,20 CJ):' (Seal) UlJANA FlORES MY COMMISSION 4 DO 272381 EXPIRES: Januarv 13, 2005 8anOecl nwu Nota,., PU:..iic llnOmrnl." File#: 05-068 67/26/2665 14: 49 2396579644 HABITAT FlY H.JoIANITV PAGE 6<Agenda Item No. 1604 OR' 3900 PG' 28sgary11,2011 , 'f'lage 26 of 58 (C~~lf Proj~ HM03. 003 PROMISSORY NOTE AMERICAN DREAM DOWNPAYMENT INmATlVE (ADDI) HOME INVESTMENT PARTNERSHIPS ACT (HOME) "~ DOWN PAYMENT ASSISTANCE PROGRAM \.J,.\.).. ":d ~ ?..CaS Date: Bon-ower: LeticiIl A. A "elar 11~ AJbjUlce W." (Property AcIdres.') Immoolee (City) FL 34142 (State) t. BORROWER (S) PROMISE TO PAY: lfWe promise to pay Tell n.......d Dollan and noIloo ($10.000.00\ (this IIIDOlIJ1t will be c:alled. "principal") to the order of CoWer Coon- or to IIIIY other bolder of this Note (the "Leodcr"), whose add~ is 21lOO Nortll Honesboc Drive NOO. N.... FIorld.34I04. JJWe undmstand that the Lender may traIISferthe PromissmyNotc. The Lalder or llIIYIlDe who takes this Note by transfer IIIIC! who is entitled to receive payments UDder this Note win be ca1lcd the "Note Holder". 2. TERMS: The maker(s) of this Promissory Note have been gnmted a "Deferred Repayment Loan, .. the tenDS ofwhichvc intended to ensure that auy American Dream Downpeyment Jnitiatiw. Program (ADD!) fuuds utilized to facilitate the purchase of this Property ere recaptured and utilized 10 usist another low- income homeowner unles.s the kear affordabill'" reoairmluts are met. The terms of this Note do Bot require that paymeDlI be made u long.. the maken comply with the followin!: eoaditio.. ..nd provbions: Maket{s) sbaIl oec:upytbeProperty 8lI tbeirpriocipal residence. Subletting of the Property isnoullowed even on a tempomy basis. Failure to abide by the principal occupancy requirements can n:sult in foreclosure. The Mak=(s) shall be required to SIlbmit proof of~ OCCIlJllIIlCYto Collier County on 1lI81111U11 basis begimJing on the IlllllivcnllfY of the ~~and annually mrtiI the end of the amonization period. Such proofsball includc;~9J~~c#:i~Oh.~tbe Mak.er(s) fail1oprovicle sufficient proof of occupIIlICy in a ~~;1he County mayidiqet~th an independent title company to perf'onn the necessary titl~catiOD, the. cost of which ~ siIded 10 the principelllDOUIIt of this Promissory Note. ! 1 ~ .. \ \ In the event the Maket{~)/;ea,d. pI:!.':~~. ~. sells or. in ~ lIllIZIIIer disposes of all or a portion of the Propcrt)' whiqhiSilit;J~/~ ~ ~ tbi.s1i.rOlt: pnorUl fulfilling the ~ and the end of the amcjrnzaii'on.1tbeJibe ~JM\I tmOtlnt-6ftI:riil4i>te ~hall become immediately due and payable based on the ~enl ",h..iIuI~ bqlow. j Ir" \\ [ ! r .! '~"--'fl-'- ,-;7~ \. ~ / ~ '1 , f"-, \ ...-.;;. \ -....-- .---=- ""'-'\? 9:-'" Iv I The ~s) shall not n:~ the indcbtedness .!lCICurd(b'Y thi~ Pmin~ Note. The County prior UI grantins approval shalt'~, the proposed. refinanci~.P,t or?er ..16~.in: that there will be sufficient equity after the proposed9!Jj!!IIcing to rccapIUI'C the ADDl~~nies~')bc Note Holder CODSeIlts to any agreement or amngemenl IIl.WlJjCb.the First Lender waives,~, extends. reduces or modifies any provisions of the Fin! Note 1lr;bt\L~Ortgqe, in<;ludiDg,'m),,,provision requiring the repayment of money. "<... tri-':::-rRC'~/ ~:: '- ..1 :.---/ The MakCI{s) sball immediately CODtact the County iOObiain approVIII should they desire to tnIlIsfer, assign, sell or in any manner dispose of all or a portion of the Property which ;5 subject 10 the Monpge securing this note prior to fulfilling this agreement and the end of the amorti1;ation period. Contacting the LeDder will also ensure that the Security Instrument may be appropriately reduced incmnct1tally for each year of the affordability period, according to an amortization schedule '-:d on the IItlIIivenary dale of the dale the mortgage was recorded. The County shall have the authority to disapprove any disposal where the proceeds ofsuch would be less than fair-market value as detcrmincd by an indcpcndenllll'P"&isal bya S_ Certified Residential Appraiser. In the event of a sale. or refinance of the first mortaaie. the proceeds of such sban be applied 8lI follows: ... If the sales price is sufficient, the proceeds will be applied. as follows: I) first to pay off the balance of the 1 07/20/2005 14: 49 23%579044 PAGE 0:i\genda Item No. 1604 OR' 3900 PG' ~~IQt;ary 11,2011 , , l.Oq:Jage 27 of 58 HABITAT FCJI H.JMANITY Fin! Mortgage, IIIIY closing costs, md advlmces by the Mortgagee; md 2) the ba1mce of the Mortgage representing the full subsidy as refc:reoced by Ibis Note. 3. If tberc are no net proceeds from the foreclosure, repayment is not required and ADDI requirements lII'll considered to be satisfied. b. If the Makcr(s) comply with the principal occupancy requirements md do not trIlIsfer, assllJll. refmancc. :leI!, or in IIIIY IIIIIIIIIIlJ' dispose of all or a portion of the Property which is subject to the MorlJlIF securing this Note, tho tile ..tire laID due aDd pIlyable acconliDI to <<be terIIU of <<be: Note ,nil be C:ODlldered paid ia fan at <<be net .1 the ..or1izatloa perJacl whle" is 5 yan. PAYMENTS: Principal payments shall bedefem:d UDt.illrmlsfi:roftitle. saleoflll'Olll:ltV ~orloss ofbomeste:ad excmution. or until the: five year affurdability period is over, whicbever bIppeDs first. The recapture clause is as follows: Days 1 through 365, 100% of the principallDlO\lllt is due. days 366 through 730. 8ll"1ooftbcpriDCipa\ amount is due, days 731 tlJroup 1,09S, 60"Ao of the principBI amount is duc,days 1,096 through 1,460. 40",4 of the principal amOllllt is due, days 1,461 through 1.824, 20% oftbe principal amount is due, IIIId day 1,824 aDd after 0% of the p.rincipaI amount will be due. Tbe3c amoUIIIs will bOt be pro-raled on a per diem basis. 4. BORROWER'S RJGRTTO PREPAY: 1/We have the right to makl: paymc:ntsofprincipBI aUllytime before they are due. A payment of principal only is kooWD as a "prepayment". When l/W e make a prepayment, 11_ will tell the Note Holder in writing that I/we am doing 10. J1We may make a full preplIylIlelIt or partial prepayment charge. The Note Holder win WIC all of my prepayments to reduce the amount of the priDcipal that I owe U1Ider this Note. IfL'We make a putiall"~ymcnt, then: will be no changes in the due date or in the axnount of my monthly payment unless the Note Holder asrees in writing to those cbaages. lf1/We make a penial prepayment, tberc will be no prepaymerrt pena1ty adhering to or associated with such !ftPBylDerrt LOAN CHARGES: Ifalaw, which applies to this loan and which sets maximum loan charges. is finally intctpreted so t1uI% the in~ or other kw1~coIla;tcd or to be collected in COIIIlCCtiOll with Ibis loan exceed the permitted limits; thcn.(<~ ~ou\-; ~~-~l be reduced by the amo\lllt aecessmy to reduce the charges to the ~JltDit;-incnm-aiI~y collected from mc which exceeded petmitted limits will be ~iileIus. The Note Hold'Cr~.cI1oosc to make this refund byrcducia& the priocipal that rJWe oWe ~ this Note: or by making a direct pa\' ent to mclus. If a refund reduces principal. the rcductiOi-'Will ~ ~liia'partial.meIlIM'\'Ienl \ I ........"'" r--. ~~-T DEED IN LIEU 011' roRi:Cl;OSURE-~ 5eniOI' llien'Holc1'cr acquires title to the Property pur.IUlIJ1t to a deed in lieu of~l~ thc'\Ii~ #ii& ~tj~cnt shall automatlcally tenninare upon the Senior Lien tJ2!~s ~~~o~ oftitl~ ~ed ~ (i~the ~ has been giVCII writ!ell notice U-r, .- ..I-L~A'''L !M'L""'_..L._ J=':"--u-. D......1n~-. \~ l;. - ~ r.,,{ t;:~ ~~..._ ...~n ~""" k...';'ni,_--I..... ~..1. .._..4_ ,,,. C'~ UCJ41.U ~ UAOt -- I - ~ & ~i~.~ ~~~..nv..~......~'t'........u.u....,--.&6I."''''''- .............. Deed ofTrust within wn(Hiay period provided in SUl;h notice llCIlt~ Lender. BORROWER.SII'J.~TOPAYASR1i:Q~~: / l'5/ \:'r '" ~~< '-/ (A) n.""'-uJ " r':-....... /.-<' ! '-"",. t '. '....1 /'> .:::----...... ,,-//.,:\ '" / "~' I"~ --- .-\.);/ IfJlwedo notpaythc !\ill amolll1t as~'h1 Gti'&hh~. L'wewill be in default. If I lIII1in defauh, the Note Holder may bring about my actionsoofjlromGfllld by applicable law and mqui~ mclus to pay the Note Holder's cost and expenses as described in (B) below. s. 6. 7. (B) PaymCl:lt of Note: Holder's Cost md Expenses If the Note Holder I8kcs such actions as described above:. the Note Holder will have the right to be paid back for all of its costs and expenses. in<:luding. but not limillld to, reasonable attorneys' fees. 8. GIVING 011' NOTICES: Unless applicable law required a different method, any notice that must be given to melus under the Note will be given by delivering it or by mailing it by fim class mail to me at the Property Address on Page 1 or at a diffctelll address if lfwe give the Note Holder a notice of my/our ditrercnt address. Any notice that must be given to the Note Holder under this Note will be given by 2 *** Pta. 6Agenda Item No. 1604 OR: 3900 PG: 26~~~:~ri ;~~J 67/26/2ee5 14:49 2396579644 HABITAT FOR ~rTY mailing il by first class mail to the NOIC Holder lit the address stated in Section 3( A) or lit a different address if lIwe have been given a notice of tbat different address. 9. OBLlGA nONS OF PERSONS UNDER THIS NOTE: lfmorc than one penon sigIllI this Note, each penon is fully and personally obligated to keep all of the promises made in this Note. including the proIIIisc to JlIIY the fI1IllllllOUllt C71WCI. Any penon who is a JUIIt8lllot. surety 01' endoner of this Note is also obligated to do these things. Any perIOn who takes over these oblilJlllicms, including the obligUioDs of apnntor, sun:tyorendorscr olthis Note. is also obligated to keep all ofthepromiaesmade in this Note. The Note Holdel: may enforce il!l rights WIder this Note against each person individually or against all of us tosether. This mllllllS that IIIIY one of us may be RqUired to pay all of the lIIIIOIIIIts owed UDder this Note. I O. WAIVERS: 1 and 11II)' other pcnIon wbo has obligations under this Note waive the rights ofpresentment lIIld notice of dishonor. "Presemmc:nt" meaDS the rillht to n:quire the Note Holder to demand payment of amounts due. "Notige of Dishonor" lIIClIIIB the right to require the Note Holder to live notice 10 other persons lhllt amoun15 due have DOt been paid. 11. UNIFORM SECURED NOTE: This Note is a unifonn instrumcnt with limited Ylliations in some jurisdictiOllS. In IIdditioD to the protection giVCII to the Note Ho]der UDder1bis NOIC, aMonpge. Docd of Trust or Security Deed (the "Security Instrument"). dattld !be same de as this Note. protects the Note Holder from possible losses which might lC3lIlt if llwe do DOt keep the promises which 11M make in this NOIC. That Sec:urity Instrument describes how and WIder w!mt conditions I/we may be required to make imroediate payment in full of all amounts IIwe owe Ullder this Note. Some of tbo5e conditions IIl'll described lIS follows: Transfer of the Property or a Beneficial Intemt in BoItO'fYl:l'. If all or any part of the propc:ny or any inu:n:st in it is sold or 1nIIsferred (Of if a beneficial in_ in Borrower is sold or lr1IIIsfc:m=d And Borrower is not a natUral person) without Lender's prior written consent, Lender may, lit its option, ""JUire immediate JI8YIDCIIt in full or all sums ICCUI'Cd by this Security Insttumc:nt. However, this oplioD shall DOt be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument 12. IfLenclerl:ll:ercises this option, Lendf!-$han~~ notice of acceleration. The notice shaIl provide a period of not less thaIl thirtyPO}~~ the~~~~~ce is delivered or ~ed, within which Borrower must JlIIY all sums.~~tbis Securi~J'it"lf Borrower{s) fail to pay these sums prior to Ihc l:ll:pil1llion o~,f\ns~, Leoder may invokt<8W~edies permitted by this Security InslnlmCllt without furtbU D~ce or dcm8lld on Borrower. \. \ / i~ ' NotWithst8lldingthe ~vc,,k r1iir~'righ~1xt applyth.c ~ ~ hereunder shaI1 be subject and subordinate,llollr~lS~he ~~. collect IIlId apply such proceeds in :=~:th th:!:Jj~1i lLl_~~~\IJ&r..L g_ _r~__~a a_ ......... ii:j ...v.,..... _.\Ii "',JI!D"''''~~''_'''''''''&''_~, ""......tNIt.,,.,,.n..,,.... ...... ..,__ v. ~Iii._... \--\..- -. \'" "\ /~! WITNESS THE HANJ,(sj,AND SEAL(S) OF THE'" E SIC.NE'. \~f~\'., ~ .. /'/G~) ..., l'-'. '->., ' '.JI";'- " .- .----- ..~ ., ... Leti . A AVd '''--., Ij: rr: r' \ r<., "- ./Wet': la. ar "'~.-,.,........ (Seal) Borrower. RETURN TO: Collier County Financial Administration IIIld Housing DepartmcIlt 2800 N. HOf3eShoe Drive 11400, Naples, FL 34104 Phone: (239) 403-2338 FlIX: (239) 403-2331 ProjectN HM 03 - 003 3 Retn: FINANCIAL ADMIN & HOUSING INURomCE Am: mDY HOPF m 5701 Project Number HM 03-04. 0036 jJqJ~~J UK: j/,U PG: jjl~ RBCOROED In the OFFICIAL mORDS of COLLIBR COUlTY, lL 01/24I2OG5 at 01: 12PN DWIGHT B. BROn, CLBRl ~:~,gend~,~'~f8 No. 1604 RBC FBI Ja ! '~~y 11, 2011 DOC-,35 5 ~~e 29 of 58 MORTGAGE THIS MORTGAGE ("Security Instrument") is given on ) - , -:z~ The Mortgagor is: Lucille Boylan, a single woman ~. This Security Instrument is given to Collier Countv ("Lender"), which is organiZed and existing under the laws of the United States of America, and whose address is 2800 North Horseshoe Drive. Suite 400. Naples, Florida 34104. Borrower CMles Lender the sum of Four Thousand Two Hundntd FIftv Five Dollars and 110I100 ($4.255.001. This debt is evidenced by Borrower's Note dated the same date as this Security Instrument (" Mortgage"), which provides fa" the fuU debt, if not paid earlier, due and payable 00 lnr6fer a title, sale of property, refll&lCe, or loss of homestead exemption. This Mortgage will be forgiven at the five (5) y.... anniversary date of mortgage. This Security Instrument secures to Lender: (a) the repayment a the debt evidenced by the mortgage, and all r~, extensions and modiflC8tions; (b) the payment a all other sums, under paragraph 7 to protect the security of the Security Instrument; and (c) the perfu.1O _ICe of Borrower's c:ovenants and agreements under this Security Instrument and the MorlgIge. Fa this purpose, 80rTcwer does hereby convey to Lender the following descrlbed property located in Collier County, Florida. More particularly described as: UNIT 202 OF NAPLES TRACE, A CONDOMINIUM PHASE I, ACCORDING TO THE CONDOMINIUM DECLARATION THEREOF ON FILE AND RECORDED IN THE OFFICE OF THE CLERK OF THE CIRCUIT COURT IN OFFICIAl RECORDS BOOK 1455, PAGES 278 THROUGH 344, PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA. FOLIO # 63375000206 and which has the address of ("Property Address"). 2395 Naples Trace Circle, Apartment #2 (Street) Naples FL 34109-7517 (City) (State) (Zip) TOGETHER WITH all the improvements ~_erected on the property, and all easements, rights. appurtenances, rents. royalties, mineral, oil and gas.~lIOd~~er/lgl$ and stock and a1lfuclures rKM'orhlnllftera pan a the property. The Security Instrument shall "CxM;r~:nipta~~~itions. All ct the foregoing is referred to in this Security Instrument as the "Property". /,~oy . ~./'t~ BORROWER COVENANTS thl( Ba70Wer is lawfully seized or the.propet\Y described above, and has the right to mortgage, the Property and that the PI'CJIlllriy is ~, except ct record. ~owilr warrants and wi defend gener;IIy the tiIIe to the Property against aD claims and d~d{. suiVec1,to ar\Vlll1CUmbF8i\ces r:i reCord. \ THIS SECURITY INSTRUMeNT cOmbines unJlQmi.CC'IlII1lInts far national'use and l1OIl-uniform covenants with limited variation by jurisdiction to constitute a ~niforriJ,~ ~,__~. '\ UNIFORM COVENANTS. ~jK-;;d~ ~\lIllrJll ~~ ~1OI1t\ws: I 1. TERMS: The Borrower(s) c1this!~gag~\~ beer;11!~ a "~erredIR~ Loan," the terms of which are intended to ensure tt'.2t a."y Home !nv=~~tlent P.et~hi~~L:tOM..E~\:ndS 4.~g~ to,~~~e the rehab~imtJcn cI!t=s Prope:tf ere recaptured and utiized to assist anothel: lOlIi-inCome home owner with rehabilitation unleSS the affordability requirements are met. \' .\ ;" I i '-'/ \ f';'\ . \it, / .....i The tenns of this Mortgage~ require that paymeiibi'tie riladeis Jong as the makers comply with the following c:ondltlons and provisions: \~.1- \,'"' 'Y/:' (7-;'" " r,"" /'\, I Borrower shall occupy the Property'~ei~iJlaI ~~ s'bbl.iltffng ct the Property is not allowed even on a temporary basis. Failure to abide by the principal OCCl!pa~Ui~cah:TaSutt in foreclosure. The Borrower shall be required to submit proof or principal occupancy to Collier CountYorHJh~al:.basi&-bEiQiming on the anniversary of the first-year occupancy and amually until the end of the five..year amortization period. Such proof shall include: proof r:i homestead exempticn, c:cpies of paid receipls fa" __ and Insurance. and copies of insurance certificates for owner-occupied Property listing Collier County as Ma1gage Hold... If the 80rTcwer fais to provide sufficient proof of occupancy in a timely manner, the Lender may contract wti1 an independll1l IilIe cx:mpany to perform the necessary title re-certification, the cost of which will be edded to the principal amount of this Mortgage. In the event the Borrower(s) cease principal occupancy, transfer, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage prior to fulfilling the agreement and the end of the amortization. then the principal anount of this Mortgage shall become immediately due and payable. The BorrCMIer shall not refll18nce the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there will be suffICient equity after the prOPOSed refinancing to recapture the HOME monies. The Lender consents to any agreement or arrangement in which the First Lender waives, postpones, extends. reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contact the Lender to obtain approval should they desire to transfer. assign, sell (J( in any manner dispose of all or a portion of the Property, which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortiz.aIion period. Contllc:ting the Lender w III also ensure that the Security Instrument may be appropriataly ntduced 11lCI'8II'I8I1ta11y for each year of the affordablllty period, according to an amortization achedl* '--d on the...w.-y date of the date the mortgage was I'KOrdecI. The Lender shall have the authority to disapprolle any disposal where the proceeds d such would be less than fajr-marl<et value as determined by an independent appraisal by a State Certified Residential Appraiser. If there are no net proceeds from the foreclosure. repayment is not required and HOME requirements are CXlI1Sidered to be satisfied. In the event or the death r:ithe BorrCMIer(s) prior to expiration of the affordability period has been attained. aU ctthedebtwil be forgiven. 2. Taxes. The Mortgagor w~1 pay all taxes, assessments. sewer rents or water rates prior to the accrual d any perellies or interest thereon. The Mortgagor shall payor cause to be paid, as the same respectively become due, (A)(1) all taxes and governmental charges ct any kind whatsoever whiCh may at any time be lawfully assessed or levied against or with respect to the Property, (2) all utUityand other charges, including "service charges", incurred or imposed for the operation, maintenance, use, occupancy, upkeep and improvement or the Property, and (3) all assessments or other govemmental charges that may lawfully be paid in installments over a period ct years, the Mortgagor shall be obligated under the Mortgage to pay or cause to be paid only such instaliments as are required to be paid during the term ct the Mortgage, and shall, promptly after the payment of any ct the foregoing, forward to Mortgagee evidence ct such payment. 3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lendershal be applied; first, to principal due; and last, to any late charges due under the Mortgage. Page 1 of 4 OR: 3720 ~eri1j'&)Oem No. 1604 wJanuary 11, 2011 Page 30 of 58 4. CMrges; liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attrilUlabIe 10 the Property, which may attain priority CNelthis Security Instrument, and leasehold payments or ground rents. if any. Borrower shall prcmpUy fumish 10 Lender aU noIices ri amounts to be paid under this paragraph, and all receipts evidencing the payments. Borrower shall prcmpUy discharge any lien which has priority CNeI this Security Instrument unless BOITower: (a) agrees in writing 10 the payment ri the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good falth the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement ri the lien; or (c) secures from the holder ri the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detennines that any part of the Property is subject to a lien, which may attain priority CNeI the Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more ri the actions set forth above within 10 days of the issuance ri notice. 5. Hazard or Property .....l'IInce. Borrower shall keep the improvements now existing or hereafter erected on the property insured against loss by fire, hazards included wtthln the term "exlended coverage" and any other hazards, ~ ftcxxls 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 be chosen by Borrower subject to Lender's approval, which shaI rot be unreasonably withheld. If Borrower falls to maintaln coverage described above. Lender may, al Lender's option, obtain ~ to protect Lendel's rights in the Property in accordance with paragreph 7. No all times that the Mortgage is outs1anding, the Mortgagor shaIIlTlIIinlain insurance with respect to the Premises against such risks and for such amounts as are custornarIy insured lIll8inst lnl P8Y. as the same become due and payable, all premiums in respect thereto, including. but not limited to, all-risk insurance protecting the interests ri the Mortgagor and Mortgagee against loss or damage to the Premises by fire, ighlning. and aher casualties customarily insured against (including boiler explosion, If appropriate), with a uniform standard exlended CO\Ierage endorsement, including debris removal CO\Ierage. Such insurance at all times 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 acceplable 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 prompUy give to Lender all receipts ri paid premiums and ~ notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof ri 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 restoratoo or repair is economically feasible and Lender's security is not lessened. If 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 then due, wtth any excess paid to Borrower. If Borrower abandons the Property, or does rot answer within 30 days a notice from Lender that the insurance carrier has offered to settle 8 claim, then Lender may coIIecl 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 3O-day period wll begin when the notice is mailed. Unless Lender and Borrower otherwise agree in writing, any application ri proceeds to principal shall not exlend or postpone the due date ri the I'I1OIiHy payments reftllTed to in paragraph 1 or change the amount ri the payments~nder paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and.~. ....... ,.U~ fiO!'\f~~" . to. .the Property prior to the acquisition shall pass to Lender to the extent ri the sums secured by this ~~.~' : ..prior to the acquisition. 6. Occupanc:y, Preservation, Maii-4!~ and protllc:tlOn: f~~roperty; Borrower'. Loan ApplIcation, L.aueholcls. Borrower shall occupy, esta!ll'IS.....8Atf use the Property as ~ Prir1cipal residence within sixty days after the execution c:A this Security Instrument anc!'shall!~~py the Property~. BoITower's principal residence for alleast the affordability period after the dale of occupancYiunltl~e/"'otherwise.li!Jfees in wli1ing, 'which consent shall not be unreasonably withheld, or unless extenuating circums'tances exist whiCil;ar~~ Borrower's COl:1lrol. \Borrower shall not destroy, damage or impair the Property, allows the Property,Ito deteril:lfclllj,ioc:eMiinit Wl!s.m:QI'T~ BOOoNer shall be in default If any forfeiture action or proceeding, whether cMI or c~mi~l is ~Iihal in ).ei\drsA~ fifi,th ~g""ent c:lJuld result in forfeiture ri the Property or otherwise materially impair the lien cn\at,!d \by t~is Stlfurlty Instju~ L~ei[S stf,unti. int~est. Borrower may Cl;'re such a defautt elld !'eu'lState, !IS provided !11 parag!!!Ph J~JJi.ta...l&pe ~ ".. prcr..eea!!?g to!!!! ~!Sm!Ssed wltl1 e ~..l!!!1g the!. 1!1 Len:Ie!'s good faith determination, precludes forteiture~ the Borrower's interest il)the P~ ~ material impairment c:Athe lien created by this Security Instrument or Lender's "liecuiity interest. Borrower shalfalso be in de{;iult'if Borrower, during the loan application process, gave materially false or inaccu~intormation or statemenlS~~enIle~,(ri~ed to provide Lender wtth any material information) in connection with the loan ~ideric!ld by the Mongage, inchldilip( blirrlot lim~ed to, representations concerning Borrower's occupancy of the Property as a principa1residence. If this Security)~'rrient is on leasehold, Bcm:lwershal ~ with all the provision of the lease. If Borrower acqtlirel\,fee:1iUe.~ the P~ t~,IE!a(ehold and the fee title shall not merge unless Lender agrees to the merger in writing. ""'. Ir.p~ r;l"Q (.,::// 7. Protection of Lender's Rights in the Pr'Ope~::W BonUiVer-fsils to perform the covenants and agreements CXll1lai'led in this Security Instrument, or there is 8 legal proceeding that may Sl9niflC8ntly affect Lender's rights in the Property (sucl1 as a pI'OC:.-ling in bankruptcy. probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for what..- is .--y to protect the value ri the Property end Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien, which has priority CNelthis Security Instrument, appearing in court. paying rmsonabIe attaneys' 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 Security Instrument. . 8. Mortgage Insurance. If Lender required mongage insurance as a condition of making the loan secured by !tis Security Instrument, Borrower shall pay the premiums required to maintain the mongage insurance in effect. It, for any reason, the mortgage insurance CO\Ierage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to obtain lXMlI'age substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the cost to Bcm:lwer ri the mortgage insurance previously in effect. from an alternate mongage insurer approved by Lender. If substantaly equivalent rratgage insurance CO\Ierage is not available, Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly mongage 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 ri mortgage insurance. Loss reserve payments may no longer be requi'ed, at the option ri Lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again bilcomes avalIable 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 wtth any written agreement between Borrower and Lender or applicable law. 9. Inspec:tlon. Lender or its agent may make reasonable entries upon and inspections c:A the Property. Lender shall give Borrower notice al the time ri 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 taking of any pan 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 not then due, w~h any excess paid to Borrower. In the event of a panial taking of the Property, in which the fair market value of the Property immediately before the taking is equal 10 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 muttiplied by the following fraction: (a) the total amount ri the sums secured immediately before the taking, divided by (b) the fair markal value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a panial taking ri the Property in which the fair market value ri the Properly immediately before the taking is less than the amount ri 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, ;rry application ri proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amount ri such payments. Page 2 of 4 OR: 3720 OOjermhem No. 1604 January 11, 2011 Page 31 of 58 11. Borrower Not Releued, Forbearance By Lender Not a Waiver. ExIension r:I the time for payment or modilicatb1 r:I amortization r:lthe sums secured by this Security Instrument granted by Lender to any successor in interest r:I Borrower shall not operate to release the liability r:lthe original Borrower or Borrower's successors in interest. Lender shall not be requi'ed to CXlI1Y11erlCll proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization r:I the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in lIlIIlfCising any right or remedy shall not be a waiver of or preclude the .-cise of any right or remedy. 12. S~ and Aulgna Bound; Joint and Several liability; Co-Signers. The covenants and ag..-nents r:llhis Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions cJ Paragraph 11. Borrower's covenants and agreements shall be joint and several. Any Borrower who c>signs this Se;;urity Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant end convey that Borrower's interest inlhe Properly under the terms of this Security Instrument; (b) is not pen;onally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms r:I this Security Instrument or the Note without that Borrower's consent. 13. LlllIn Charge&. If the loan secured by this Security Instrument is subject to a law which sets ITlIIlCimum loan charges. and that law is fInaIy interpreted so that the interest or other loan charges collected or to be collected in connection wiIh the qn mcceed the permitted limits, tIw1: (a) any such loan charge shall be reduced by the amount necessary to reduce the c:t8rge to the permitted limit; and (b) any sums .,..y collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the NOle or by making a dir8c:l psymenl to BonoMlr. f a refund reduces principal, the reduction wHI be treated es a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to BorrCNJer provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mall unless applicable law required use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. Federal law and the law a the jurisdiction in which the property is located shal gcMlrTl this Security Instrument. In the event that any provision or clause a this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions cJ this Security Instrument or the Note which can be given affect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the NOle and of this Security Instrument. 17. Transfer of the Property or a Beneficiallnlarut In Borrower. If all or any part of the Property or any inl8'esl i1 it is sold or transferred (or if a benefICial interest in Borrower is sold or transferred and BorTCMIer is not a natural person) without Lender's prior written oonsent. Lender may. at its option, require immediate payment in full r:I all sums secured by this Security Instrument. HcMever, Lender shall not ~ise this option if federal law as r:I the date a this Security Instrument prohilils lIlIIlfCise. If Lender 8lCllI'Cised this option, Lender shall give Borrower notice r:I acceleration. The notice shall prtMde a period a not less then 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior ~~. period. Lender may invoke any remedies permitted by this Security Instrument without further notice or d~~ r .,~ 18. Borrower's RIght to Reinatata~ ~~c:p!lditions, Borrower shall have the right to have enforcement eX this Security Instrument discQrfji~:8fany time prior to the fJadlilr #;1a) 5 days (or such other period as applicable law may specify for reinstatement) before sjII'e ~ Property pursuant to any ~ cJ ~e contained in this Security Instrument; or (b) entry eX a judgment enforcing this Sec~.rity Irystlllment:-fllose condit~ are lh8lB~ (a) pays Lender all sums which Ihen would be due under this Security Instrulnent.and ~ as If no iCceIel'ation had,ocCil1Ted; (b) cures and default a any other covenants oragl'BOO1ents; (c) pays a1l8llPens~ incurred in~this secu' Inst'r:u~t, including, but notlimiled to, reasonable attorney's fees; and (d) takes such adion as.t.liiiIiIJ . I aiitlre that the lien a this Security Instrument. ~~~~::~~~~~I~=t~tJ~J:~:~~~n::~~::: -- if'_---..._o.-. h......... ~,....--..I u_.J:;:~ l ....h:1...~.~ -.:k~_L..~1f _-'" .r.r..i....:"::':r.~- oJ. ..._...-a~_:_ ...-I_~_!"!"'I_'" of~ ....... II 0_ ~....Ur.-I........ _ii~. II"'~~.~) ...~.::!li:fln ........l..2Ju--~a~I"'" ". :II UI~.~IIO> VI ~""C"""'I ""IIlo.IDI ,..-'Cl!W,.......' If. 19. Sale of Nota; Change ~~n Servlcer. The Note OrV' part, inte~.i'" the Note (together with this Security Instrument) may be sold one or more ti~ prior notice to Borrowett,,,.. sale maye,lJ1t in a change in the entity (kncwnas the "Loan Servicer") that collects monthly ~~,~ue under the Note ancf~ s~~ril)(t~trument. There also may be one or more changes of the Loan Servicer unrelated to 8'SateoHhe Note. If there is a chanQe'9l' tbe.l.0an Servicer, BorrCNJer wiS be given written notice of the change in accordance with para9raPl'Till~ applicable law. Then6ttCe will state the name and address a the new LCB'l Servicer and the address to which paymentS' Sh6.tid ~maQL!.!le-~~I:BfSo contain any other information required by applocable law. "..... j In:; r'-n~.L~.~ 20. Hazardous Substances. BolTtMler sh8ltnat:.cliW~!Qt'pemrifthe presence, use, disposal, storage, or release a any Hazardous Substances on or in the Property. Borrower shaD not do, nor allow anyone else to do. anything affecting the Property that ill in vIoi8Iion a any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property allmllll quantities eX Hazardous Substances that are generally recogniZed to be appropriate to nama! residential uses and to maintenance r:I the Property. Borrower shall promptly give Lender written notice fO/' any investigation, claim, demand, lawsuit or other action by any governmental 0/' regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law a which Borrower has actual kllCNJledge. If Borrower iearns, or is notified by any governmental or regulatory authority, that any rerTIOIIaI or other remediation of any Hazardous Substance affecting the Property is necessary. Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the follCNJing 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; Remedies. Lender shall give notice to Borrower prior to acceleration following BorroNer's breach r:I any covenant or agreement in this Security InslJUment (but not prior to acceleration under paragraph 11 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a dale, not less than 30 days Iran the date the notice is given to Borrower, by which the default must be cured; and (d) that faiure 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 saJeofthe Property. The notice shall further inform Borrower of the right to reinslateafter acceierationandtherightto assert in the foreclosure process the non-existence of a defauit or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on 0/' before the dale specified in the notice, Lender, at lis 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 proceedir9. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limned to, reasonable attorney's fees and costs of the title evidence. 22. Release. Upon payment of all sums secured by this Security Instrument, Lender sha! release this Security Instrument. wllhout charge, to BorrCNJer. BorrCNJer shall pay any recordation costs. 23. Attorneys' Fees. As used in this Security Instrument and the Note, "attorneys' fees" shall include any attorneys' fees awarded by an appellate cou rt. Page 3 of 4 *** OR: 3720 p&erm~eU'~o. 1604 January 11, 2011 Page 32 of 58 24. RIders to this Sec:urIty Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agl'llllments c:l each such rider shall be incorporated into lI'ld shal anend lI'ld supplement the covenants and agreements c:l this Security Instrument as If the rider(s) were a part of this Security Instrument. (Check Applicable Box) rt rt rt W Adjustable Rate Rider W Rate Improvement Rider W Condominium Rider rt rt rt L.J Graduated Payment Rider L.J 1-4 Family Rider L.J Second Home Rider rt rt rt L.J Balloon Rider L.J Biweekly Payment Rider L.J Planned Unit Development Rider rt L.J Other(s) (specify == :E~ ~~ ~~lt.agl'llllS 10 the terms and covenants con~tained in this Security 1r1slnJmert~lnlil~rtIer(S) Signed. sealed lII1ll delivered ilthe presence cI: . J -A /I Witness Signature: Signature: ~ ~J ,_ rNler Witness Print Name: Signature: BorrrNIer Witness Signature: Witness Print Name: Address: STATE OF Florida COUNTY OF Collier My Commission Expires: ~Rr< /\.lb' . '-~Of.J~ I hereby certify that on this day, befc:eQ:~~~~e aforesaid and in the county aforesaid to / '"'~ ~ \ take acknowledgements, personally appeared./ -----r~\~ ~. to me'lmowrl'to be the person(s) described in and who / / =-~,~ "\ \ \ lllCBCuted the foregoing instrument andJaCk.I1?. ~ ~ _ i\\~""""" _fa" "'........., ~essed. ! r, (( ~,~( (l ) 11U \ y )~) \ "~ \'~ '-=-" ~.. ~,/ ..;..i f WITNESS my hand and offICial seal in the Ccunty and State aforesaid'!i\is 1\- .;:i\~ '. '("'",\ \ V~, J / "-'/ \'''"::'l. ..,.",~ /....,,; ',\1.,; \. ^ . (b~C~\ . /,.\... '" ,-;"'..0lc"'~ " -,. "-.',1 Notary PUbliC'S~I9'_ J~:-:;\~/ \,\f"\"'('\"~<~~~, l~~// Notary's Printed N~e --.,,~--,.. (SEAL) Return to: Collier County FAH Single Family Rehabilitation Loan Program 2800 N. Horseshoe Drive, Suite 400 Naples. FL 34104 Project # HM 03-04 " 0036 WENDY A. KLOPF MYCOMM~ONtDD&S7~ EXPIRES: April 12, 20Cll BordOdThN--,"-"-' G:\HOME\2003-2004 PROJECTS\SINGLE-FAMIL Y REHABIMORTGA TE TEMPLATE - HM 03-04 " 5 YEARS " FINAL VERSION.doc Page 4 of 4 f' j' Retn: 1I00Rl i IIA1SLIR 1107 W !lARIO. AVI '112 pum GORDl 1L 33950 THIRD MORTGAGE 3703093 OR: 3895 PG: 3765 RECORDED in the omCIlL RECORDS of COLLIBR COUITY, FL 09/22/2005 at 01:04PII DWIGBT I. BROCK, CLIIB OBLDAgermlRlol.1Um No. 1604 OBLI lJIRlD1.lIltiry 11, 2011 REC m 61fft:lge 33 of 58 DOC-.35 35.00 THIS SECOND MORTGAGE ("Security Instrument") is given on August 15,2005. The Second Mortgagor is: Delma S. Harding, 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 2800 North Horseshoe Drive, '400, Naple., Florida 34104. Borrower owes Lender the sum of Ten Thousand and No/100th. Dollar. (U.S. S 10,000.00 ). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument ("Second Mortgage"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on sale of 1=>roperty, refinance, or loss of hoaestead exem.ption . This Mortgage will be forgiven at the five (5) vear anniversarY date of mortaaae. 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 under 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. For this purpose, Borrower does hereby second mortgage, grant and convey to Lender the following described property located in Collier County, Florida. As more particularly described as Lot 62, Independence, Phase I, Collier County, Florida and which has the address of: ("Property Address"): 1235 AJ.legiance Way;:-::Iiiiiii01t'a1.ee, Florida 34142, Folio '51677511162 //\.~ 0'" '-.,. U U. -"-, TOGETHER WITH all the imprOvel1)E!~~Orhereaftere~!?G'Uf1 the property, and all easements, rights, appurtenances, rents, royalties, mineral, oj/'~~9as rights and profits, ~t~t r~hts and stock and all fixtures now or hereafter a part of the property. All replaeemerits-and.additions shall also'be covered by the Security Instrument. All of the foregoing is referred to in this Security Instru1he~the''''Prope~ \ \ BORROWER COVENANTS ttfat B1orrower is])~Oll~i.z~~.),QUR.e~t.ate\herebY conveyed and has the right to mortgage, grant and convey the Prop~ ~~~Jle fryPE; ~lf~t!ca.nJ'!1ered, \'lxcept for encumbrances of record. Borrower warrants and will defend generally the.titl~ td the P"OPJFY.-ag",in~t al~ c1ai!TIs and demands, subject to any encumbrances of record. \ '-, \ \ \. A \ \. ) ) I Ii> '~I J ,f-, I THIS SECURITY INSTRUME~)::c~rTi1:irles UnifOriTI covEil;1ants""i9f7iaiidtJal use and non-uniform covenants with limited variation by jurisdiction to constitUle,a uniform security inst/1:Jn1enf coYeong real property. UNIFORM COVENANTS. BorroW,9r 'and Lender covenarlfiftid agre<>-as' follows: \1-'~ . ''-;>~ (~/ 1. Terms: The Borrower) of this M~afi!~:bave been gr~o~~f~:9iferred Repayment Loan," the terms of which are intended to ensure that any American Dream..Dgw[i:p~rrrent;lf1l!i:aliveiADDI) funds utilized to facilitate the purchase of this Property are recaptured and utilized to assist ahGtb~~~iiicorrfe home owner unless the affordability requirements are met. The terms of this Mortgage do not require that payments be made as long as the makers comply with the following conditions and provisions: Borrower shall occupy the Property as their principal residence. Subletting of the Property is not allowed even on a temporary basis. Failure to abide by the principal occupancy requirements can result in foreclosure. The Borrower shall be required to submit proof of principal occupancy to Collier County on an annual basis beginning on the anniversary of the first-year occupancy and annually until the end of the amortization period. Such proof shall include: proof of homestead exemption. If the Borrower fails to provide sufficient proof of occupancy in a timely manner, the Lender may contract with an independent title company to perform the necessary title re-certificatron, the cost of which will be added to the principal amount of this Mortgage. In the event the Borrower cease principal occupancy, transfer, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage prior to fulfilling the agreement and the end of the amortization, then the principal amount of this Mortgage shall become immediately due and payable based on the repayment schedule. The Borrower shall not refinance the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there will be sufficient equity after the proposed refinancing to recapture the ADDI monies. The Lender consents to any agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contact the Lender to obtain approval should they desire to transfer, assign, sell or in any manner dispose of all or a portion of the Property, which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the affordability period, according to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The Lender shall have the authority to disapprove any disposal where the proceeds of such would be less than fair-market value as determined by an independent appraisal by a State Certified Residential Appraiser. If there are no net proceeds from the foreclosure, repayment is not required and ADDI requirements are considered to be satisfied. In the event of the death of the Borrower(s) prior to expiration of the, affordability period has been attained, all of the debt will be forgiven. 2. Taxes. The Mortgagor will pay all taxes, assessments, sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall payor cause to be paid, as the same respectively become due. (A)(1) all taxes and governmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respect OR: 3895 P~ea<1'~tem No. 1604 January 11, 2011 to the Property, (2) all utility and other charges, including "service charges", incurred or imposed for the operation, Page 34 of 58 maintenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to payor cause to be paid only such installments as are required to be paid during the term of the Mortgage, and shall, promptly after the payment of any of the foregoing, forward to Mortgagee evidence of such payment. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applied; first, to interest due; and, to principal due; and last, to any late charges due under the Note. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph, and all receipts evidencing the . payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over the Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, 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 carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. At all times that the Note is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto, including, but not limited to , all-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 times 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 b~.a~-be.nder and shall include a standard mortgage clause. Lender shall have the right to hold the policie~, a'lcf1i~~~~69w)eguires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal noti~l\:1f~lie event of 10sS';-~q~r shall give prompt notice to the insurance carrier and Lender. Lender may make prs>6f\Qf}oss if not made prompl1y~yet!.rrower. Unless Lender and Borrower ot~erwlse~gr-ee-iA,writing, insurance'froc~eds shall be applied to restoration or repair of the Property damaged, if the restoritioRt.or-~!?alriseconomically feasibl~ and Lender's security is not lessened. If the restoration or repair is not economicanyjea&jble~en~e,l::Ulity ~Uld be lessened, the insurance proceeds shall be applied to the sums secured ~y th\7,'. Se@~Iif'[1~, ''"l~~ffh~ltJe,tt''.19} nb, t th~n due, with any excess paid to Borrower. If Borrower abandons the Prop~~ or doeb npt afJs~-witl:Un "30 day.; ~ notice from Lender that the insurance carrier has offered to settle a claim, th~rrLl:in,d~ay bo!led1he~nsuralbl..prQceeds. Lender may use the proceeds to '" ~ \ ~.-. ~_ - '-__ /,..,,,,1 repair or restore the Property or to paY\~!1fTl~ secured by this SeCtJr.ity Instrum~,Mihether or not then due. The 30-day period will begin when the notice is mai~\ ~nless Lender and B~Y"ef ot;h'~jSe agree in writing, any application of proceeds to principal shall not extend or~\pc?ne the due date of tl;ie.,rno~thl.v..payments referred to in paragraph 1 or change the amount of the payments. If unqef liaragraph 21 the Prope~)s'.al;;quired by Lender, Borrower's right to any insurance policies and proceeds resulting frontd,l:n~~o the Pr9P~"P.i'i9rio the acquisition shall pass to Lender to the extent of the sums secured by this Security In'Str.(,ll;1~nJ:lf}lm1tlj'ffEjl{fl~r'16 the acquisition. 6. Occupancy, Preservation, MaintenanCfi-a(tlfP~othiori of the Property; Borrower's Loan Application, Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower 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 Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the provision of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the ProPElrty. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 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 date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to obtain 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 OR' 3895 pme~rtem No. 1604 , , "Jc*fuary 11, 2011 the insurance coverage lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a losl?age 35 of 58 reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the 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 fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amount of such payments. 11. Borrower Not Released, Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements ~ this Security Instrument shall bind.,~. .~~essors and a~~igns of Lender and Borrower, subject to the ProVISions Of. paragraph 17. Borrower's,co{'ElT)~~_~'!1epts.,~hall be I.olnt and. several. Any Borrower who co-slgns thIS SecUrity Instrument but does ~o!~e the Note; (a)1s~~IQ{llng thiS Security Instrument only to mortgage, grant and convey that Borroweps lol~st in the Property unae(tfie'terms of this Security Instrument: (b) is not personally obligated to pay the sums secOred .oll-this-Se"urity Instrument: a~d (t.) agrees that Lender and any other Borrower may agree to extend, modify, !or~r Or__~~ a~accomm.odatiO~ with regard to the terms of this Security Instrument or the Note without that Bortowe'r'~~e~ ~ h 7\ \ 13. Loan Ch~rges. I~ the loar seflUr,Cfb11~irge~1ty'f!PstrOJ:n'ev17s\sub\ect to a law which sets maxi~um loan charges, and that law IS finally Interpr~ed ~~ tljIat t.~e I"tere~t pr~U"6r roan(Ch'lr~~ collected or to be collected In connection with the loan exceed the per!'f1~eQ~s;"~{'a}'aiW suc~~oa..9 c.h~e sha!! be reduced by the amount necessary to reduce the charge to the ~rniitted limit; and (b) an~umsllre~tcPllected from Borrower which exceeded permitted limits will be refunded to Borr(,~\ Lender may choosej(),:!!1ake th~~und by reducing the principal owed under the Note or by .making a direct pa~~N? Borrower. If a refij~9tf~princiPal, the reduction will be treated as a partial prepayment Without any prepayment.cn~rge under the Note./<. ......;; 14. Notices. Any notice to Borrower.~1~ in this Ses(jr~ty Ipstrument shall be given by delivering it or by mailing it by first class mail unless applicable Ia:W.(e~QUJr~::U~~l!igtbl'lf'method. The notice shall be directed to the Property Address or any other address Borrower design~~olice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the 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 affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of 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 shall give Borrower notice of acceleration. The notice shall provide a period of not 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. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower 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 a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures and default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument. including, but not limited to, reasonable attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer") that collects monthly payments due under the 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 law. OR: 3895 PG.gJ~tem No. 1604 January 11, 2011 The notice will state the name and address of the new Loan Servicer and the address to which payments should be ~~ 36 of 58 The notice will also contain any other information 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 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 learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorney's fees and costs of the title evidence. 22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument, without charge, to Borrower. Borrower sh~J}}'recordatlon costs. 23. Attorneys' Fees. As used in this S~curitY~~erUanct the Note, "attorneys' fees" shall Include any attorneys' fees awarded by an appellate cou~/~\ )\..:~}v~ 1/0'7~ ~<-\ SIGNING BELOW, Borrower accepts and agr6es-to-the~mLcovenatlts ctlntained in this Security Instrument and in any rider(s) executed by Borrower and r'ecOrCIed;WittHt.~___,\ ..... L \ \ Signed, sealed and delivered in the prkse~Ce"6f:::j(~(, \)<::11)') \ \11) \ Witness#1: H 0 () ('1 (~ tZ-t.{ Jnq ~~ \J) J - ~gn~tll~~:' 0-~ ~u .-1--- \ '(" \ '!;lorrower / ::::- /Delma S. Harding ----- " \ """'-\ .J'k J i ".' I 0 ...:.. '\ ~'}.~',~<> / '"'11 I -----Ai.;';'" \ ' " . ./ ,^ '-:-/ ~< ~", Sig~tu,re~/ "< J f.' 'J--' _-c-ri: B'orlower '< . -~f~~:~':::/ Signature: Address: 1235 Allegiance Way Immokalee, Florida 34142 STATE OF FLORIDA COUNTY OF 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, personally appeared Delma S. Harding to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before me that (He! she! they) executed the same for the purpose therein expressed. ~ day of I.- _ 'UV WITNf;SS my hand and official seal in the County and Slat 20~. My Commission Expires: (Seal) "'Y"e-) UUANAF!.ORES MY COMMISSION # DO 272381 EXPIRES: January 13. 2008 ~I"'''''~~,Plbloc_1eos File#: HM03-Q03 Project# HM03 - 003 OR: 3895 P,GQeaa'9tem No. 16D4 ~ January ii, 2011 ~ (Q) ~1fge 37 of 58 PROMISSORY NOTE AMERICAN DREAM DOWNP A YMENT INITIATIVE (ADDI) HOME INVESTMENT PARTNERSHIPS ACT (HOME) \ DOWN PAYMENT ASSISTANCE PROGRAM Date: ~ ;JD) )(\O~ Borrower: Delma S. Hardine 1235 AUeeiance Way (property Address) Immokalee (City) FL 34142 (State) 1. BORROWER (S) PROMISE TO PAY: I1We promise to pay Ten Thousand DoHars and noll00 ($10.000.00) (this amoWlt will be called "principal") to the order of Collier Countv or to any other holder of this Note (the "Lender"), whose address is 2800 North Horseshoe Drive #400. Naples. Florida 34104. I/W e understand that the Lender may transfer the Promissory Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note will be called the "Note Holder". 2. TERMS: The maker(s) of this Promissory Note have been granted a "Deferred Repayment Loan." the terms of which are intended to ensure that any American Dream Downpayment Initiative Program (ADDO funds utilized to facilitate the purchase of this Property are recaptured and utilized to assist another low- income homeowner unless the 5-vear affor-dabilitv requirements are met. /~ If,K C.O(jJ..~ The terms of this Note do not re"~ \.bllt-~.~J:' as long as tbe makers comply with tbe following conditions aDd~isions: "'\. \ / / ~r:\ Maker( s) shall occupy the Pro~;as tIi:frP&cipaJ residence. SUble~ing of the Property is not allowed even on a temporary basis. Faillu-e lp~,~'),rin<;.iJa1'1;c~~cy ~uirements can result in foreclosure. The Maker{ s) shall be reqilired( ~o kb,Qiit brc:lo~d" Win6i~ 6&:Jpan~ to Collier COWlty on an annual basis . .. L . \ ,-, , r ,t..,../' '..... '-.f --' l.v ~ I. ,'-, I " '. ,\. . ~.\. " i.>egmrung on tue anruvers~Ol .tucrfm,-"t-;y.eaI oCGllpaIlcy;ram1 !'WP-uaily imtu tHe enu 01 we amortizatiOn period. Such proof s~1 ~~1\ proof ofhomest~..$te~Ptili)Jf~e M~er{s) fail to p~ovide sufficient proof of occupancy m a tIme~lJl~er, the COWlty.~ytC~)I)tia9't WIth an mdependent tItle company to perform the necessary title re-tl(ffification, the cost of wIii'c;h iwill be added to the principal amount of this "1'..}' ..../..'\/ PromIssory Note. "< 'I~~f.' .___________. -::~\j';/ ',- In,,; ",") Iv /' "'~1. .t.-,' ,-.}. \".:-....... In the event the Maker(s) ceases principal occupanCY;- transfers, sells or in any manner disposes of all or a portion of the Property which is subject to the Mortgage securing this Note prior to fulfilling the agreement and the end of the amortization, then the principal amoWlt of this Note shall become immediately due and payable based on the repayment schedule below. The Maker{s) shall not refinance the indebtedness secured by this Promissory Note. The County prior to granting approval shall review the proposed refinancing in order to ensure that there will be sufficient equity after the proposed refinancing to recapture the ADDI monies. The Note Holder consents to any agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Maker{s) shall immediately contact the COWlty to obtain approval should they desire to transfer, assign, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage securing this note prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the affordability period, according to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The COWlty shall have the authority to disapprove any disposal where the proceeds of such would be less than fair-market value as determined by an independent appraisal by a State Certified Residential Appraiser. In the event of a sale, or refmance of the first mortgage, the proceeds of such shall be applied as follows: a. If the sales price is sufficient, the proceeds will be applied as follows: I) first to pay off the balance of the 1 OR: 3895 P~~~110Item No. 16D4 ~ January 11, 2011 Page 38 of 58 First Mortgage, any closing costs, and advances by the Mortgagee; and 2) the balance of the Mortgage representing the full subsidy as referenced by this Note. If there are no net proceeds from the foreclosure, repayment is not required and ADDI requirements are considered to be satisfied. b. If the Maker(s) comply with the principal occupancy requirements and do not transfer, assign, refmance, sell, or in any manner dispose of all or a portion of the Property which is subject to the Mortgage securing this Note, then the entire sum due and payable according to tbe terms of tbe Note will be considered paid in full at the end of the amortization period which is 5 years. 3. PAYMENTS: Principal payments shall be deferred until transfer of title. sale oforooertv. refinance. or loss of homestead exemotion. or Wltil the five year affordability period is over, whichever happens first. The recapture clause is as follows: Days 1 through 365, 100% of the principal amount is due, days 366 through 730,80010 of the principal amount is due, days 731 through 1,095,60% of the principal amount is due, days 1,096 through 1,460,40% of the principal amoWlt is due, days 1,461 through 1,824,20% of the principal amount is due, and day 1,824 and after 0% of the principal amount will be due. These amoWlts will not be pro-rated on a per diem basis. 4. BORROWER'S RIGHT TO PREPAY: I1We have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "prepayment". When I1We make a prepayment, I/we will tell the Note Ho~g that I1we am doing so. I/We may make a full prepayment or p~i~ prepayment C:9~~\~ ~tfold~ will use all ~fmy prepayments to re~uce the amount ~f the pnnclpal ~ I o'Y:~SNOre::k'~J'~ake a partIal prepayment, there ~ll I>:. no changes m the due date or m the agI~unt of my monthly p~rlt unless the Note Holder agrees m wntIng to those changes. IfI/We ~e aiartiaI"re~~.!here \all ~ no prepayment penalty adhering to or associated with such prepaymer w-=<"O-\____b h ~ \ LOAN CHARGES If II /l.hi''?1h \l (~lil\ I.J~~o)' d ~\ h \ . I bar . fina]l . : . a ~w, ~ f ~~p iesito ff~Lan Ii? /~. '-'t~ ~ets max~um oan c. g~s, IS . Y Internreted so that the Interesro.r m..lte!-1o"~ :, L ..;:'gesJ6J. nl!ectb.d r tW.- c.ollected m COD..nection WIth this loan . ,. \._~ ~---.,.. ~-- /. exceed the permitted limits; ~en (i) any such loan Charge$ shaJ" reduced by the amount necessary to reduce the charges to the pd$lltfe.d limit; and (ii) ~~unisiln:'idy collected from me which exceeded permitted limits will be refundectto1J:!e/us. The Note Hdl~ef m~Y choose to make this refund by reducing the principal that I1We owe Wld~r,tii!iN.:o.t~..E~~g~"diI'ect payment to me/us. If a refund reduces principal, the reduction will be treate(L~.1l?~al\p.~b~nt. ---- 5. 6. DEED IN LIEU OF FORECLOSURE: Further, if the Senior Lien Holder acquires title to the Property pursuant to a deed in lieu of foreclosure, the lien of this Security Instrument shall automatically terminate upon the Senior Lien Holder's acquisition of title, provided that (i) the Lender has been given written notice of a default under the First Deed of Trust and (ii) the Lender shall not have cured the default under the First Deed of Trust within the 30-day period provided in such notice sent to the Lender. 7. BORROWER'S FAILURE TO PAY AS REQUESTED: (A) Default IfI/we do not pay the full amoWlt as required in Section 3 above, I1we will be in default. Ifl am in default, the Note Holder may bring about any actions not prohibited by applicable law and require me/us to pay the Note Holder's cost and expenses as described in (B) below. (B) Payment of Note Holder's Cost and Expenses If the Note Holder takes such actions as described above, the Note Holder will have the right to be paid back for all of its costs and expenses, including, but not limited to, reasonable attorneys' fees. 8. GIVING OF NOTICES: Unless applicable law required a different method, any notice that must be given to me/us under the Note will be given by delivering it or by mailing it by first class mail to me at the Property Address on Page I or at a different address if I/we give the Note Holder a notice of my/our different address. Any notice that must be given to the Note Holder Wlder this Note will be given by 2 *** OR: 3895 P~9J,7JJlt~~tNo. 1604 January 11, 2011 Page 39 of 58 mailing it by first class mail to the Note Holder at the address stated in Section 3(A) or at a different address ifI/we have been given a notice of that different address. 9. OBLIGATIONS OF PERSONS UNDER TIllS NOTE: Ifmore than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights Wlder this Note against each person individually or against all of us together. This means that anyone of us may be required to pay all of the amounts owed under this Note. I O. WAIVERS: I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor. "Presentment" means the right to require the Note Holder to demand payment of amoWlts due. "Notice of Dishonor" means the right to require the Note Holder to give notice to other persons that amoWlts due have not been paid. II. UNIFORM SECURED NOTE: This Note is a Wliform instrument with limited variations in some jurisdictions. In addition to the protection given to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result ifI/we do not keep the promises which I/we make in this Note. lbat Security Instrument describes how and Wlder what conditions I/we may be required to make immediate payment in full of all amounts I/we owe under this Note. Some of those conditions are described as follows: . /~~G Transfer of the Property or a B~Clatrnrerest1D~~rt,w~r. If all or any part of the property or any interest in it is sold or transf'~~r if a beneficiallnteks\ in Borrower is sold or transferred And Borrower is not a natural pedon).4thoot-be~prior written CQnsent, Lender may, at its option, require immediate payment in full pr all7sum!isecuredby tliirSec~~\Insfroment. However, this option shall not be exere;,"" by Lenoo ttrt1j~1'11*~v-l~ 'fth' date.Ofthis Soc~ty Jnstnnn,nt I n~nder exercIses t.h..lS Op~()n; lnqer Shd!.gN~ ~ow\[ t~ce"@r ac.c.eleratJon. The nonce shall proVide a period of not less than ~ith\(30) days from the~te the n.6ti'fe is delivered or mailed, within which Borrower must pay all sumk~d by this SecuritY.anstrumeau' IfBorrower{s) fail to pay these sums prior to the expiration of thfs1Period, Lender may' in.Jok~':an:y remedies permitted by this Security Instrument without further noti~~&f1e.Itl~~~\'\/ "",.f}n~ c:n~.I...>// Notwithstanding the above, the Lender's iiglltste'Colfect and apply the insurance proceeds hereWlder shall be subject and subordinate to the rights of the Senior Lien Holder to collect and apply such proceeds in accordance with the First Deed of Trust. 12, This note is governed and construed io accordance with the Laws oftbe State of Florida. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. ,~. ~ G>.. ok- ' Borrower: Delma S. Harding (Seal) Borrower: (Seal) RETURN TO: Collier County Financial Administration and Housing Department 2800 N. Horseshoe Drive #400, Naples, FL 34104 Phone: (239) 403-2338 Fax: (239) 403-2331 Project# HM 03 - 003 3 THIRD MORTGAGE OBLD OBLI Dcm DOC" .35 Agenda Item No. 1604 January 11, 2011 100llV'ittle 40 of 58 10000.0r 44.00 35,00 letD: IlPLIS mLl PICI UP 3697023 OR: 3888 PG: 3583 DCOIDID iD the omCIAL mOlDs of COLLm com!, lL 0!/13/2005 at 10:46A11 DIIIGBt I. BROCI, CLlU L~ THIS SECOND MORTGAGE ("Security Instrument") is given on September ,2005. The Second Mortgagor is: Jose R. Linares & Marioly Baez Alfonso, Husband and Wife ("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 2800 North Horseshoe Drive, '400. Naples, Florida 34104. Borrower owes Lender the sum of Ten Thousand and No/100ths Dollars (U.S. S 10.000.00 ). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument ("Second Mortgage"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on sale of property, refinance, or loss of homestead exemption, This Mortgage will be foraiven at the five (5) vear anniversary date of mortaaae. 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 under 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. For this purpose, Borrower does hereby second mortgage, grant and convey to Lender the following described property located in Collier County, Florida. Asmoreparticularlydescribedas See Attached Exhibit "A" address of: and which has the ("Property Address"): 2291 Hunter Blvd. ~ap!-ea..... Florida 34116. Folio '36311440006 //SEK L:Or;~ TOGETHER WITH all the improverne~),dW1:lFlierei!ftet!;~<;ted on the property, and all easements, rights, appurtenances. rents, royalties, mineral, pi(ahEj:~s rights and profiiS-C~~~{ights and stock and all fIXtures now or hereafter a part of the property. All replacements and additions shall al~Q be covered by the Security Instrument. All of the foregoing is referred to in this Security jnst~Joim~ia.s th~-apeljY'i' \ \ BORROWER COVENANTS ~hat ~. orr. owe~'~~wfoIly seizetl of the. 1sta~ hereby conveyed and has the right to mortgage. grant and convey the ProP.8rty ~n~ )lffP,[op~n,u~redi except for encumbrances of record, Borrower warrants and will defend gi.ner~'IY the.. (mile. 10, the rro~r:tY a~a. m.st a.,II. cl~ims and demands. subject to any encumbrances of record. r-, \\ \..../.?\ \..) J J If" J I I hi THIS SECURITY INSTRUM~r:u: combines bnifOrrrfcov.)inanfsrrnr nalit!nal use and non-uniform covenants with limited variation by jurisdiction to constltute,a uniform security inS'ti;umemt coiening real property. UNIFORM COVENANTS. Boti~~, and Lender covenari(-and! a9r~7"a~ follows: \,.4-\" ''-,1/ (7/ 1. Terms: The Borrower) of this'~ortg~ge have been gra[ltEl~'a:.D~ferred Repayment Loan: the terms of which are intended to ensure that any American Dfeai4iD,~ym.~rilit1aii~e'(ADDI) funds utilized to facilitate the purchase of this Property are recaptured and utilized to assiS'tao.otl1er l6.wer.;ldcorfle home owner unless the affordability requirements are met. ~ The terms of this Mortgage do not require that payments be made as long as the makers comply with the following conditions and provisions: Borrower shall occupy the Property as their principal residence. Subletting of the Property is not allowed even on a temporary basis. Failure to abide by the principal occupancy requirements can result in foreclosure. The Borrower shall be required to submit proof of principal occupancy to Collier County on an annual basis beginning on the anniversary of the first-year occupancy and annually until the end of the amortization period. Such proof shall include: proof of homestead exemption. If the Borrower fails to provide sufficient proof of occupancy in a timely manner, the Lender may contract with an independent title company to perform the necessary title re-certification, the cost of which will be added to the principal amount of this Mortgage. In the event the Borrower cease principal occupancy, transfer, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage prior to fulfilling the agreement and the end of the amortization, then the principal amount of this Mortgage shall become immediately due and payable based on the repayment schedule. The Borrower shall not refinance the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there will be sufficient equity after the proposed refinancing to recapture the ADD I monies. The Lender consents to any agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contact the Lender to obtain approval should they desire to transfer, assign, sell or in any manner dispose of all or a portion of the Property, which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the afford ability period, according to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The Lender shall have the authority to disapprove any disposal where the proceeds of such would be less than fair-market value as determined by an independent appraisal by a State Certified Residential Appraiser. If there are no net proceeds from the foreclosure, repayment is not required and ADDI requirements are considered to be satisfied. In the event of the death of the Borrower( s) prior to expiration of the, affordabilily period has been attained, all of the debt will be forgiven. 2. Taxes. The Mortgagor will pay all taxes, assessments. sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall payor cause to be paid, as the same respectively become due, (A)(1) all taxes and governmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respect " OR' 3888 ~fl~lhem No. 1604 · r\J. J~1Jary11,2011 to the Property, (2) all utility and other charges, including "service charges", incurred or imposed for the operation, Page 41 of 58 maintenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to payor cause to be paid only such installments as are required to be paid during the term of the Mortgage, and shall, promptly after the payment of any of the foregoing, forward to Mortgagee evidence of such payment. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applied; first, to interest due; and, to principal due; and last, to any late charges due under the Note. 4. Charges; liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph, and all receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over the Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, 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 carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. At all times that the Note is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto, including, but not limited to , all-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 times 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~~:~~-ender and shall include a standard mortgage clause. Lender shall have the right to hold the pOlicie. s.~a. cf\E!~._ !.~.~~g, uir. es, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notic(. ~tle event of 10Ss;-:B6if~r shall give prompt notice to the insurance carrier and Lender. Lender may make pr06fIQ ss if not made promP!1y:tly Bqrrower. . Unless Lender and Borr~wer ot~rwi~~gree-ifl,~ng,. in~~~ancir~ro~~ds shall be applied t~ r~storation or repaIr of the Property damaged, if the restorabo~palf Iseconormcally feaSible and Lender's secUrity IS not lessened. If the restoration or repair is not econOrhicariYJea!iibl~E!r1.!!er-S.$,e~ ~uld ~e lessened, the insurance proceeds shall be applied to the sums secured ~y th~Se@rMln~~Eir1t~"'wtl~tIJeh'9flibt th~n due, with any excess paid to Borrower. If Borrower abandons the rro~rtY, or qoa\; npt ~ris .J wit~n ~O da,ys a notice from Lender that the insurance carrier has offered to settle a claim, thrrr!-~ne.~ay~!I9ct!h':_I"!~un:~..It,cel.pr~~ps. Lender may use the proceeds to repaIr or restore the Property or to pay\Strms secured by thiS SeCtlnty Instru~\ Whether or not then due. The 30-day period will begin when the notice is mai~\ 'Unless Lender and B9"it",wei oth'eA:Yise agree in writing, any application of . . ";." ....,.,.....- J ,,:". I . proceeds to prinCipal shall not extend orlJ6S~ne the due date of fbe..mol:lfl:1\y..payments referred to In paragraph 1 or change the amount of the payments. If u~er ~ar:Clgraph 21 the Proper!Y:'js!.acquired by Lender, Borrower's right to any insurance policies and proceeds resulting frorrtdaJlla~o the Pr9P.8ftY;'P,~to the acquisition shall pass to Lender to the extent of the sums secured by this Security In~trG!!'!ih}:tlTi!fr~l.p'ri:9r1o the acquisition. 6. Occupancy. Preservation, MaintenanCe-aOdProtediofi of the Property; Borrower's loan Application, Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower 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 Joan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the proviSion of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing, 7. Protection of lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 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 date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect, If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain 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 . ~ OR: 3888 Fa~n3~a~a~~~',1~~1 the insurance coverage lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a los!?age 42 of 58 reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the 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 otherwis.e agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amount of such payments. 11. Borrower Not Released, Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind aJld~~.... . essors and assigns of Lender and Borrower, subject to the Provisions of paragraph 17. Borrower's ~~.~~ .. . ~d.ts shall be joint and several. Any Borrower who co-signs this Security Instrument but does no(~e'the Note; (il)'js.~"~!Wing this Security Instrument only to mortgage, grant and convey that Borrowe~J$lon;rest in the Property unde(t1;e''terms of this Security Instrument; (b) is not personally obligated to pay the sums seC?6red,tly-this-Security Instrument; ~d (~) agrees that Lender and any other Borrower may agree to extend, mOdify., !or~r .OP'IM ~e. .a')Y_accorfii'noda. tiorlf wit~ regard to the terms of this Security Instrument or the Note without that Bortowe'r~e~ ~ h 7\ 13. Loan Charges. If the loah seffr~(rb~;{hii~eop~~~s'tru[ne?~\SUb ectto a law which sets maximum loan charges, and that law is finally interpr~ed ~ t~at ttie intere~t pr ~ther iQ,a~lch~rge~ collected or to be collected in connection with the loan exceed the permi~~~itS~!!1et,.(a)ia~ suc!:!.'iJo~ St).~ shall be reduced by the amount necessary to reduce the charge to the ~rinitted limit; and (b) any.~ums '~Ire<!~pllected from Borrower which exceeded permitted limits will be refunded to Borr~~...!\ Lender may choose.J6;:na~e thi:!-i~fund by reducing the principal owed under the Note or by making a direct paYJ:riehl"~o Borrower, If a refUnd re~NeeS(principal, the reduction will be treated as a partial prepayment without any prepayment~fi~l'Q~ under the Note. '/;. ,...y 14. Notices. Any notice to BorrowerJ?r9~id,edJ~ in this ~9r.!tY)~strument shall be given by delivering it or by mailing it by first class mail unless applicable law.{~qUir~(I~u~O\~r,totber(method. The notice shall be directed to the Property Address or any other address Borrower de!;igr\ates~illotice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability, This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the 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 affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of 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 shall give Borrower notice of acceleration. The notice shall provide a period of not 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. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. if Borrower meets certain conditions, Borrower 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 a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security instrument and the Note as if no acceleration had occurred: (b) cures and default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged, Upon reinstatement by Borrower. this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower, A sale may result in a change in the entity (known as the "Loan Servicer") that collects monthly payments due under the 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 law. OR' 3888 p'mermttem No. 1604 , ""J'att'uary 11, 2011 The notice will state the name and address of the new Loan Servicer and the address to which payments should be ~_ 43 of 58 The notice will also contain any other information 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 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 learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property, The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorney's fees and costs of the title evidence. 22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument, without charge, to Borrower. Borrower sh~ay..a.oy recordation costs. 23. Attorneys' Fees. As used in this Sf;Ctlf~~r'@~. the Note, "attorneys' fees" shall include any attorneys' fees awarded by an appellate co.. un..../" ))~~.J!I\;~~ /0"'/ '...., ~'I' ~()~ ',~- SIGNING BELOW, Borrower accepts and agrees-TO"ltle'te.rrns and.cove~nts contained in this Security Instrument and in any rider(s) executed by Borrower and fecOrdediWlt~_~ \ \ \ I !/~ ..--;:v. I''-~~ 9\ ' Signed, seal1n. d delivered in the prese~.ce of: \l( I 1 ') ~ \ \/'(Ij 'b...'. . }.IJ ~ I It I ~ \ I J 'I ~ I.. I \^no"~pp"'1, 1/1'JI':::;".L!: IfIf,n'A?:"k'../'l!..d>" -..J ./ J >' ...___...__, 1,--' ..",llv~.o:J1'rI. ~...,,.., -.,.... vl't:::7"--. _____ ~'oiiJIYIJ~U':.tJ!.r..., I , ~. \, 'Borrower / ~;' \'..~ ~\ ,~~ j ,/~)/ . !-'/'\."...~i ./<~ ~..;/ SigJli.flJr~V ~....... .- -.,..- .B~' l-'" <:':{' .,..>--____Co..". ~r.rower "'. j Irr; (~~11<..t..- "....../ ~~::...~--..... . . ~' STATE OF FLORIDA COUNTY OF ~ lit&;., Address: 2291 Hunter Blv Naples, Florida 34116 Signature: Signature: 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, personally appeared Jose R. Linares & Marioly Baez Alfonso to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before me that (He/ she/they) executed the same for the purpose therein expressed. WITNESS my hand and official seal in the County and State aforesaid this ~ day of .bd ~J),f": 20_. If:PI (Seal) ....~t~I.....~ ANDREW G. MORTENSEN '0\ MYCOMMISSION'D0421168N "'! EXPIRES; June 25, 200l ary's Printed Name -Tlv-'_ryNllc~ My Commission Expires: File#: HM05-06-o02 tt* OR' 3888 p~~l'Jeliltli'o. 1604 · · v..ltt'htJary 11, 2011 Page 44 of 58 EXHIBIT "A" Legal Description Lot IS, Block 194, GOLDEN GATE, UNIT 6, a Subdivision, according to tbe plat thereof as recorded in Plat Book S, Pages 124 through 134, inclusive, of the Public Records or Collier County, Florida ;tP~~U~ / 7~ ~ \ '1\-/,\ \ \ UCCCWWWL \ .;-:. \ -- -- "-~ .~ /:::::: I \, \ <( I i ^~ I \ f<\ \ '~1;' / "",-.I I \',..;j \~'~l I / ("\,1 \!,.c. " . '--J. I," '-'I <r"'. /,,-. '" ~,..,', .. /" / "'-'./.'~ .--/ \,; \ / " "'. --- --- -'-'. ' " '........... III ,-::- {,..n C :;;./ '-::...:.!~/~ FOURTH l<<>RTGAGE 3693607 OR: 38&4g~ a9t2No. 1604 UCORDID iu OPlICIAL OCOIDS of COLLIIi~w,y,v 1, 2011 D9/01/2005 at 02:18PK DWIGHT I. BROct, miiage 45 of 58 OSLO 10000, DO OBLI 10000, DO DC PII 52.50 DOC-, J5 JUO RetD: 1I00RJ i WlISLIR 110 1 " WID. lVI , 112 PURTA GORDA PL JJ950 THIS FOURTH MORTGAGE ("Security Instrumenr) is given o~ I~ 2005. The Fourth Mortgagor is: Anltll Zepeda, A Single Person ("Borrower"). This Security Instrument is given to Co~~ier County ("Lende('), which is organized and existing under the laws ofthe United States of America, and whose address is 2800 North Horseshoe Drive, '400, N.p~ell, F~orida 34014, Borrower owes Lender the sum of Ten Thousand and No/100ths Do~~ars(U.S.$ 10,000.00 ). This debt is evidenced by BolTW8's Note dated the same date as this Security Instrument ("Third Mortgage"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on sa~e of property, refinance, or ~oss of ho..s tead exaaption , This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all _Is, 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 Borrower's covenants and agl8elTleOts under this Security Instrument and the Note. For this purpose, Borrower does hereby Fourth Mortgage, grant and convey to Lender the following described property located in Co~~i.r County. Florida. As more particularly described as Lot 49, Independence, Phase I, Collier County, Florida and which has the address ot ("Property Address"): 1167 Alleqiance Way ,I..oka~&8, FL 34142 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, exce...e!-fQ.t.en.C<!Jmbrances of record. Borrower warrants and win defend generally the liIle to the Property against all claims and demands, su~ e~ of record. THIS SECURITY INSTRUMENT combines un.~.. ..' }e~~. and non-unifonn covenants with timited variation by jurisdiction to constitute a unifonn security instrumel!t~~~ property~ V ),~ UNIFORM COVENANTS. Borrower and .J:ender--cOvenant and agree as f01ll:l\1l1&." \ 1. P.yment of PrInclpllland Interest;,f:>~nt and LatIt Charges. BOIroweNlhall promptly pay when due the principal of and interest on the debt evidenced by the Note. / I ~ .f'\ \ \ 2. Tu... The Mortgagor will pay allf'!, assess~s, ~r re71ts ~r water rates prior to the accrual of any penalties or interest thereon I. '-~.~ \ \ . ..,~,~ . .~.' <;7\ . The Mortgagor Shall pay or cause to:be ~, a~'Sarne'1 .. Iy,.. . 'd~, (A)(1) all taxes and governmental charges of any kind whatsoever which may at any time be laWfully~~or levied l!98inSi.Ql"~ reipedlto iIie Property, (2) all utility and Other charges, including .service charges", incurred or im~rtt1e\!!Qlf.I'~oIot, ~aJrilE!n4ce, ~j cxicup!JAcy.IUPkeep and improvement of the Property, and (3) all assessments or other governmental chli,rges thiltmliy laWfttllf'be Paidin instatlmeiitsiqver,8 period of years, the Mortgagor shall be obligated under the Mortgage to pay or cause to'~. ~id only such installrnenfl;j!S arei requf~~O be paid during the leon of the Mortgage, and shall, promptly after the payment of any of the m""9'lfng, forward to Mortgag~idelJCl! cif.5Och payment 3. Application of Paymenta. Unless ~cilble law provides otherWise, aU l?8~mehts received by Lender shall be applied; first, to interest due; and, to principal due; and last, to anyWcttarges due under the Note~'. ....,~/ 4. Charges; liens. Borrower shall pay ail.~Bssessments, cha~~jj~ aOO impositions attributable to the Property which may altain priority over this Security Instrument, and leasetiOkl~~nls!lfil1'OlJ!lQ reril$; if..any. Borrower shall promptly fumish to lender all notices of amounts to be paid under this paragraph, and ait~iPt!s.~~~pgJtte.payments. Borrower shall promptly discharge any lien which has pi'ioril)'-llver1ffis Security Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender delennines that any part of the Property is subject to a lien which may altain priority over the Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. Ii. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the tenn "extended coverage" and any other hazards, induding 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 be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage desaibed above, Lender may, at Lender's option, obtain coverage to protect Lender's 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 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 unifonn standard extended coverage endorsement, 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 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 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, if the restoration or repair is economically feasible and Lender's security is not lessened. If 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 then 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 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 3O-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. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. OccuplIncy, Presel'Vlltlon, Maintenance and Protection of the Property; Borro_r's Loan Application, l.nMholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate. or commit waste on the Property. Borrower shan be in default if any forfeiture action or proceeding. whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security OR: 3884 P~g~~ltem No. 1604 January 11, 2011 interest. Borrower may cure such a default and reinstate, as provided in paragraph 18. by causing the action or proceeding to be dismis!i?EiiJge 46 of 58 with a ruling that. in Lender's good faith determination. precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if Borrower, during the loan application process. gave materially false or inaccurate information or statements to Lender (or (ailed to provide Lender with any material information) in connection with the loan evidenced by the NOIe, including. but not limited to, representations conceming Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold. Borrower shall comply with all the proVision of the lease. If Borrower acquires fee tille to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements oontained in this Security Instrument, or there is a legal proceeding that may significantly affect Lendar's rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or forfeiture or to enforce laws or regulations). then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court. paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 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 date of disbursement at the Note rate and shall be payable, with interest. upon notice from Lender to Borrower requesting payment. 8. Mortgage insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If. for any reason. the mortgage insurance coverage required by Lender lapses or ceases to be in effect. Borrower shall pay the premiums required to obtain 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 Lender. if 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 acoordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to Lender, In the event of a total 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 tOlal amount of the sums secured immediately before the taking. divided by (b) the fair market value of the Property immediately before the. taking. Any balance sR~;rj)jlooower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before,~t~li~ldss tb8ti ~'a01Ount of the sums secured immediately for the laking, unless Borrower and Lender otherwise agree in wrim~.!J~ei~:oih~ise provides. the proceeds shall be applied to the sums secured by this Security Instrument whether or not/jM>.&\J/riS are then due. UnlEiSs:tel!tc!er and Borrower otherwise agree in writing, any application of proceeds to principal shall not exlend'or~pOstpone the due date of the"rilonthl~ payments referred to In paragraphs 1 or change the amount of such payments. I / ~_ r \ \,. 11. Borrower Not Released, Fo~aran\:e Bf-l:elu!.er N9-.t. a Wiily~. EXlen~on o\the time for payment or modification of amortization of ~e sums secured by this Se1urily Af!~nt ~~~~Ull<:ces~or in inter~st of Borrower shall not operate to release the liability of the onglnal Borrower ~r B~ers'~~sS?r50,lnll"\llfesl\~8Il.dp,(srall riOt be. reqUired to commence p~lngs . against any successor In Interest or refuse tp eXl. ~d lime fpr R8Yl'(lenl qr ~~~ m6tlifyj amoftlZatlOn of the sums secured by thIS Secunty Instrument by reas?n of any ~e~a~ ~~de h~~~ri~~";B~~rjr~o'F.wer'~~ucfes~,j~ Interest. Any forbearance by Lender in exerCising any nghl or remeoy snail nol De a walver-oH'" prectOOe-me'el(e<<J!se ONIFlY'-Rgtll.Gl,(...remeoy. 12. Successors and Assigns Bouii$lJoint and Several Liabil'!W; Co-$igners':::1:he covenants and agreements of this Security Instrument shall bind and benefil the successor:s.~ild assigns of Lender and$llrr~r. s{J~ to the Provisions of paragraph 17. Borrower's covenanlsl .lAd agreements shall be)Oint ar:ld .s'e\<<lr~. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is\~Signi[1g this Security InstrumentonIY.J9-1nortgage. grant and convey that Borrower's interest in the Property under the terms of this Security InStl:.U~e?lf<I:l).. iiss n noott pe persrson.anY...0liii9'8tec!'to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower rhaY~lS9ree~~ify';f9i'jleilr or make any accommodations with regard to the terms of this Security Instrument or the Note without that BorrowEis.tor!5enCH{ 1......,/ 13. Loan Charges. If the loan secured by this SeClilitY-lAsiAunent1S subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the ioan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge 10 the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class 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 Law; 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 affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest In Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may. at its option. require immediate payment in full of 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 shall give Borrower notice of acceleration. The notice shall provide a period of not 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. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower 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 a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceieration had occurred; (b) cures and default of any other covenants or agreements: (c) pays all expenses incurred in enforcing this Security Instrument. including. but not limited to. reasonable attorney's fees; and (d) takes such adion as Lender may reasonably require to assure that the lien of this Security Instrument, lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not appiy in the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servlcer. The Note or a partial interesl 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 Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the NOIe. If there is a change of the Loan Servicer. Borrower will be given written nolice of the change in accordance with paragraph 14 and applicabie law. The notice will state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also conlain any other information required by applicable law. OR: 3884 PG\g~ltem No. 1604 January 11, 2011 20. Hazardous Substances. Borrower shall not cause or permit the presence. use. disposal. storage. or release of any Hazl?r~ 47 of 58 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 normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice for any investigation. claim. demand. lawsuit or other adion 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 Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law, As used In this paragraph 20. "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline. kerosene. other flammable or toxic petroleum products. toxic pesticides and herbicides, volatile solvents. materials CXIntaining 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. Accel.ratlon; R.medles. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any CXIvenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides olhetwise). The notice shall specify: (a) the default; (b) the adion 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 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 dale 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 CXIl1ect all expenses incurred in pursuing the remedies provided in this paragraph 21, induding. but not limited to, reasonable attorney's fees and costs of the title evidence. 22. R.I..... 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' F_. As used in this Security Instrument and the Note. "attorneys' fees" shall indude any attorneys' fees awarded by an appellate court. 24. Riders to this Security Instrument If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. (Check Applicable Box) o Adjustable Rate Rider 0 Rate Improvement Rider 0 Condominium Rider o Graduated Payment Rider 0 1-4 Family Rider 0 Second Home Rider o Balloon Rider 0 Biweekly Payment Rider 0 Planned Unit Development Rider o Other(s)(specify _~~ . /;:,.\Y----.-~~& SIGNING BELOW, Borrower accepts and agree~'tQ t~{erms and covenants confaink ir'hthls Secunty Instrument and in any rider{s) executed by Borrower and recorded with it. I / ~ '\ \ I" ---"~M Signed. sealed and delivered In the presence of:! w_~......, \ (;;;_ WitnesS#1:~P ltJ, Y'\ I' ~ t~ ~ 4~(f1s~1~~';1 \(f/.?wYpn C&\. :.A AI J ./ ---!-- I \ I I I BatraWet' \\ {Ani ta j Zepe Sionature: . t II' 1M ~ I./c.---- I f-' ',.... V) \ U ./ J ~ ~ l I h J - \ . \ '-"'" ~ '+-"1 ! :::: I Witness#2: .a...:: \ Si9natu/~t, /,....., / . -~::;, \ Co- BorrOwer J / 0 I \, rL~ \" ; '"\-) ,,/ (" I / ......~~ '..... / ~ L'/ "". ~~) ~ ./'> .'\.. ,/ ',.:-/'~~~s;.<,..t~q/~AllegianCe Way ..........J 1-1 r: ('IV lIlIUIrokalee, Florida 34142 '-.----:::~--~~ Signature: STATE OF FLf"t~D) . _ COUNTYOF~ I hereby certify that on this day. before me. an officer duly authorized in the state aforesaid and in the CXIunty aforesaid to take acknowledgements. personally appeared Anita Zepeda to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before me that (He/ she/they) execut ---- .20 0 ~. WITNESS my hand and official seal in the County and S My Commission Expires: (Seal) ULlANA FLORES MY r,OMMISSIO~ !I DO 272381 EXPIRES: January 10. 2008 - T"~ Nolo,!, PIt<iOu-., File#: 05-062 e7/28/2885 14:49 239657ge44 HABITAT FeR f-U1ANITY Ag~ It~ No. 1604 t ~a~f~~ Project## HM03 - 006 PROMISSORY NOTE AMERICAN DREAM OOWNPAYMENT INITIATIVE (ADDI) ROME INVESTMENT PARTNERSHIPS ACT (HOME) ~ DOWN PAYMENT ASSISTANCE PROGRAM Date: ":.- ~ LO, L <Xn- OR: 3884 PG: 3925 BoITOWcr: Anita Zeoeda 1167 All_Dee Wav (Property Addn:ss) Immokalee (City) FL 34142 (State) 1. BORROWER (S) PROMISE TO PAY: JJWe promise to pay TEll Tholl5llftd Dollars ud DoIlOO (~lO.OOO.OO) (this amount will be called "principal") to the order of Collier COUDtv or to any other holder of this Note (the "Lender'), whose address is 1800 North Donahoe Drive ~. NaDMs. Florida34104. I1Weundc:rstand that the Lendcr may transfer the Promi8.'lOryNote. The Lender or anyone who takes tbis NotE: by tnmsfcr and who is entitled to receive payments WKier this Note will be called the "Note Holder". 2. TERMS: The maker(s) of this Promissory Note have been granted a MDcfcrrcd Repayment Loan." the terms of which are intended to ensure lh.at.an,..Americ,an Dream Downpayme:nt lDitiative Program (ADDI) funds utilized to facilitate the ~~jb ~ . .~. ~ured and utilized to assist another low- income homeowner unless tP(s,;viar\tf8rcmj' . It.. '- euts are met. ~ /"' "'-..fl' TIle unas of diu Note do'oC~'ire that paYDleaa be m.de,u~ as tlte maken comply with the following CODtDS/aD~~.~ \ \ Maker(s) ,ball occupy the ~~~ee subl~ngdrthe Property is not allowed even on 11 temporary~. Fai~.'~& ~p;t.~ri.'"' ~ ~rlrments can result in foreclosure. The Ma1cer(s) shall be ~Uirdd to submit ~f d! ~ci~~~to <!:oUia' County OD an annual basis h.ooinni,.... ^"' ..... ,..!......-l...J.^~~l h.l..j.-l ,J..,.lL__. ~i!... -n..L~~wL':I'1.~ --d 0"'''' ~--~~"""o" .....-D..."'....."O ....... ......w .....\.\;..fiS~'iie;J ~"""","_~I.&.tq,.?.:"~ ~''''} ".~ "'11 ~~}~l tiLl U."- CII I U~ ......OIUI..cu.. ,. period. Such proof Shalt mclUae: proo~este8/;\~xempqon. If~aker(s) fail to provide sufficient proof of occupancy \~timely manner, the County tn~ co~traci ~)ll an independent title company to perform the nea:ssartfuJC,ie-certificatiOll, the cost or~chl~i(~aed to the principal amount ofthis PromissoryNo~. \f", ::,/. \.) / '", (~' " /,A, :/ In the event the Maker(s) ceaseS-~~'"OOCl'P9D("*~~:~iis or in any mllDDCf disposes of all or a portion of the Property which iSsubikl~J~!;~ ~o~~'$E:eUiing this Note prior to fulfilling the agreement and the cod of the amortization, then tIie-princi~5U'nt of this Note shall become immediately due and payable ba.c;ed on the repayment schedule below. 'The MakC1\s) shall not refinance the indebtednc:s... secured by this Promissory Note. The County prior to granting approval shall review the proposed refinancing in order to enSW'e that there will be sufficient equity after the proposed refinancing to recapture the ADD! monies. The Note Holder consents to any ~ment or arrangement in which the First Lender waives, postpones, extends. reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Maker(s) sball immediately contact the CoWlty to obtain approval should they desire to transfer, assign. sell or in any manner dispose of all or a portion of tile Property which is SU~lect to the Mortgage securing this note prior to fulfilling this agreement and the ~ of the amort17..ation period. Contacting the Leoda will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the affordability period. according to an amortization schedule based on the llIlDiversary date of the date the mortgage was recorded. The County sball have the authority to disapprove any dispo~J where the proceeds of such would be less than fair-market value as determined by an independent appraisal by a Stale Certified Residential Appraiser. In the event of a sale, or rcfuulncc of the first mortgage, the proceeds of such shall be applied as follows: a. If the sales price i3 sufficient, the proceeds will be applied as follows: 1) first to payoff the balance of the 1 B7/2B/2BC5 14:49 239657ge44 HABITAT FOR I-UlANITY Ag~ It~ No. 1604 OR: 388~ap~3~Z~~ First Mortgage, any closing costs, and advances by the Mortgagee; and 2) the balance of the Mortgage representing the full subsidy as referenced by this Note. If !here are DO net proceeds from the fora::losure, repayment is not required and ADOI requircmerrts are considered to be satisfied. b. If the Maker(s) comply with the principal occupancy requirements and do not transfer, assign, refmance, sell, or in any manner dispose of all or a portion of the Property which is subject to the Mortgage securing this Note. then tbe aaart! saID due and payable ac:cordiJIg to the tenns oftbe Note wiD be collSidered paid in mil at the end of the amortiatioa period which is 5 yan. 3. PAYMENTS: Principal payments sha1I be defmed until transfer of title. sale ofmooertv. refinance. or loss of homestead exemntion. or until the five year affordability period is over, whichever happens first. 'The rccaptm'e clause is as follows: Days I through 365, 100010 of the principal amount is due. days 366 through 730, 80% oftbc principal amount is due, days 731 through 1,095, 60% of the principal amount is due, days 1,096through 1,460, 4oe/r,ofthe principal amount is due, days 1,461 through 1,824,20% of the principal amount is due, and day 1,824 and after ()o1o of the principal amount will be due. These amounts will not be pro-rated on a per diem basis. 4. BORROWER'S RIGHT TO PREPAY: J/We have the right to make payments of principal at any time befOt'C they are due. A payment ~~wn as a "prepayment". When '!We make a prepayment, L'we ~ tell.~. Note~~i~~~.J/we am doing so.l/We may make a full prepayment or partial ~~~de'r.r)i,use all of my prepayments to reduce the amolD1t ~fthe principal/~~ under this Note. IfIiW'~l\Partial prepayment, there ~11 tJ:e.no changes m the due dlWyor iii1hc lIIDOunt of my monthly p&ymO\,t unless the Note Holder agrees In wnting to those changes. IfYWc ~~ ~~'1here will'bc no ~ pcua.lty adhering to or associated with s~ prepayment ~~\ . \ \ ~OAN CllARGd, !f~. . aWf5 'tr~~~~~ ~U...:\e.. 'F~um ,.... """""";, finally mterpraed so~+c ~'o;~~ ~:m~ect~ ~~ bf ~Ir:t~m~on vroh this loan exceed the pc:nmtic:((llzn1ts;_W'VJ'~~~ ~ ~ by the amount necessary to reduce the charges ~\Pef1Ditted limit; and (ii) ~ sums'~~nectcd from me which exceeded permitted limits will~funded to me/us. The N~lder~at~eos'e to make this refund by reducing th~ ~ipal that ~e~~~dcr this Note or ~ m~l. 'fik~".~/..~~)4nent to melus. Ifa refund ~ prlIlCJpaI, the rcduction~..treated as a partial prepa~t L/ ",O~. . ~'\'\>( .. DEED IN UEU ~F ~OREGl{()S'~1"u~~s:r;~(~e~~r LIen Holder acqwres title. to the Pro~ pursuant to a deed m beu offorecl~;itk~li~~~unty Instrument shall automatll~lIy temllnate upon the Senior Lien Holder's acquisiti~fil1~ided that (i) the Lender has been given wriUal. notice of a default under the First Deed ofTru..'il. and (ii) the Lender sbaH not have cured the default UDder the First Deed of Trust within the 30-day period provided in such notice sent to the Lender. 5. 6. 7. BORROWER'S FAILURE TO PAY AS REQUESTED: (A) Default rfIlwe do not pay the full amount 8$ required in Section 3 above:, L'we will be in default If I am in default, the Note Holder may bring about any actions not prohibited by applicablc law and require meIu.<; to pay the Note Holder's cost and expenses as descn'bed in (B) below. (B) Payment of Nate Holder's Cost and Expenses If the Note Holder takes such actioos as described above, the Note Holder will havc the right to be paid back for all of its costs and expenses., including, but not limited to, reasonable attorneys' fees. 8. GIVING OF NOTICES: Unless applicable law required a di.fferent method, any notice that must be given to me/us under the Note win be given by delivering it or by mailing it by first class mail to me at the Property Address on Page I or at a different address if lIwe give the Note Holder a notice of my/oUl different address. Any notice that must be given to the Note Holder under this Note will be given by 2 67/26/2665 14:49 2396579644 HABITAT FOR I-U1ANITY Ag~Atta I~m No. 1604 *** OR: 388~am~e~'~~~*** mailing it by first class mail to the Note Holder at the address stated in Section 3(A) or at a different address ifIlwe have been given a notice of that different address. 9. OBLIGATIONS OF PERSONS UNDER THIS NOTE: Ifmote than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser oftbis Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights UDder this Note against each person individually or against all of us together. This means that any one ofusmay be required to pay all of the amounts owed UDdcrthisNote. 10. W AJVERS: 1 and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor. ~Presentment" means the right to n::quite the Note Holder to demaDd payment of amounts due:. "Notice of Dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not hem paid. 11. UNIFORM SECURED NOTE: Tb.ia Note is a unifonn insttument with limited variations in some jurisdictions. In additioo to the protection given to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the ~Security 1Dstrumcnt"), dated the same date as this Note, protects the Note Holder from possible losses which might result ifl/we do not keep the promises which I/we make in this Note. 'That Security Instrument describes and under what conditions lIwe may be required to make immediate payment in full of all ~~C. . ~ this Note. Some of those conditions are described as follows: ~~~~. f () > '-':..?" r'\. Tl1UlSfer of the ProFWoll.!J1krieficial Interest in &rrower~ a~ or any part of the property or any interest in it is sold oftnui{~ a beneficial interest-m BOq-ower is sold or transferred And Borrower is not a na+t ~~.!l...ut I::aaerlr'priorwrittcn co"nscnt.\J..ender may, at its option, ~ire immediate payment in fuU'<,r all sum;"'~. . . this Sec!un. '.ty Instr\un. .~ ent. However, this option shall not be exercised by 1..c:olier~/ ~i:U ~ ~kthc: date of this Security Instrument. If Lend . I, L ( 9 \J{ .) -O)![J " :1'f.\ II . The . shall 'de c:r cxercu;es ih~. . o~, ~~, ,~lfei~wer npUCF 0 ~,~on. nouce proVl a period of not less\tbah\tliirtY=(50) '~~ t~t';ee i~IJvered or mailed, within which Borrower must pay l.1l'~ secured by this Securi~trurnent. .1J~s) fail to pay these sums prior to lhe expiratilln}~\this period, Lender mayJ~keJ anfieffit!dies pennitted by this Security Instrument without fn;'Mr ..notice or demand on Borro;\6-,- I /If~ U;/ '--\~r' ~>; ",-) Notwithstanding the above~~~.$.!ijhl~ to ~~~~l~ insurance proceeds hereunder shall be subject and subordinate to)h(; ri~~f~ior tJ~'a61der to collect and apply such proceeds in accordance with the First Deed ofitu.~-!::....~/""'" 12. nis .ote is govel'Jled ud construed in .c:cordance with the Laws or the State or Florid.. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. Bo2:J'!1~ (~) (Seal) Borrower: RET~ TO: Comer Cotmty Financial Administration and Housing Department 2800 N. Horseshoe Drive #400, Naples, FL 34104 Phone: (239) 403-2338 Fax: (239) 403-2331 projcct# HM 03 - 006 3 Retn ~ HOUSIIIG i GRAlITS CBDG HORSESHOE DR Anll: mDY lLOPF j~b/q~Z OR: 4111 PG: 2763 RECORDED in the OFFICIAL RECORDS of COLLIER coum, FL 02/01/2007 at OJ: 14PM DWIGHT B. BROCK. CURl 8Btnenda Jtwa:o~o. 1604 OBLI Ja1t1W:~0 11, 2011 RBC FBB PBOO 51 of 58 DOC-.J5 50,05 Project Number HM 04-05.014 MORTGAGE THIS MORTGAGE ("Sea.rrity Instrumenr) is given on _1011012005_. The ~agor is: lesvla Martinez. a slnal8 woman ("Borrower"). This Sea.rrity 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 2800 North HorsashoA DrIve Suite 400 NllDles. Florida 34104. Borrower owes Lender the sum of FourtBen Thnr-.t Tine Hundred Dollars and noI100 /110'-300.001 This debt is evidenced by Borrower's Note dated the same date es this Security InslIUment (" Mortgage"), which provides for the full debt, if not paid earlier, due and payable on transfer ~ !iUe, sale of property, refinanca, or loss of homestead exemption. This Mortgage will be forglwn at the fiWl{S) year annIwtrNry dm of mortgage. This Sea.rrity Instrument sea.rres to Lender: (e) the repayment of the debt evidenced by the mortgage, and all ~s, extensions and modifications; (b) the payment of all other sums, under paragraph 7 to protect the securtty~the Security Instrument; and (c) the petformance of BolTOWlll's covenants and agreements under this Security Instrument and the Mortgage. For this purpose, Borrower does hereby convey to Lender the following desaibed property located in Collier County, Florida. More partiwlar1y described as: Lot 33, Block 6, Trafford pines Estates, SeclIon One (1). according to the plat thereof, recorded In Plat Book 10. at page 911 of the Public Recorde of COllier county, Florida FOUO , n163OOO006 and \MIich has the address of A. ("Property Address">. 1802 Sherman AWl (Street) ImmokaJee FL 34142 (City) (State) (Zip) TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and ges rights and profits, water rights and stock and all fixtures now or hereafter a pari of the property. The Sea.rrity Instrument shall also cover all replacements and additions. All of the foregoing is referred to in this SeaIrity Instrument as the "Property". BORROWER COVENANTS that BoIlOYJlBr~oQf the property described above, and has the right to 1TIOI1gage, the Property and that the Property i~.lJl'i8rl~.: '~of~. Borrower warrants and lMJI defand generaJlythe !iUe to the Property against all daims and ~~ to anye~ of record. THIS SECURITY INSTRUMEt1T Plln!)m8s unifonn covenants (Or{J~ use and non-uniform covenants with limited variation by jurisdiction to constitute a I,lfJIf~rity instrument covering ~ property. UNIFORM COVENANTS. 80rr0werra:t'iiftiiiill...aootQ!!l1t.8l)d agree. fol1ows: 1. TERMS: The Borrower{s)Ot thi$"Morlli~ve be!m griYrted a'De/erred Repayment Loan: the terms of \MIich are intended to ensure that any Home InYestm'8IJt.P.artne~ct ~OME) fUR~ to facilitate the rehabilitation of this Property =- recaptured and utilized to assistie" ~t jirie ~~rrnj"'ess the affordability requirements are - ..oo.. I r"'. L G \"-- )J r L~l ,--, i the ak pi wIth...- ,nit terms Dr MI$ .0rtg~llll,ao'1l<<reqUIr8-.tnatpaynients... ..........J!:! rong as m era com y vow following conditions and provision~ ~ "1 I / '--0,. I Borrower shall occupy the ~;;.-~. as their principal resiJilt. ~u/~'1of the Property is not allowed even on a temporary basis. Failure to abide by ~W1ni:i1!81 occupancy requirements':cciA.t..esult in foreclosure. The Borrower shall be required to submit proof of principal occupanofJp.l:loljier County on an annliaf.is beginning on the anniversary of the fitst-)'88r occupancy and annually unW the end of the fiwtfeM~"1;!lXbProot shall include: proof of homestead examption. copies of paid receipts for taxes and insurance, W cOpies ~1~.c8rtifjcates for owner-occupied Property listing Collier County as Mortgage Holder, if the Borrower fails to~'utfiCiel'\rproof of occupancy in a Umely manner, the Lender may contract with an independent Utle company to perfonn the necessary title re-certification, the cost of which VlllII be added to the principal amount of this Mortgage. In the event the Borrower{ s) cease principal occupancy, transfer, sell or in any manner dispose of all or a portion of the Property \MIlch is subject to the Mortgage prior to fulfilling the agreement and the end of the amortization, then the principal amount of this Mortgage shall become immediately due and payable. The Borrower shall not refinance the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there VIIIIl be sufficient equity after the proposed refinancing to recapture the HOME monies. The Lender consents to any agreement or arrangement in which the First Lenderwaivas, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contact the Lender to obtain approval should they desire to transfer, assign, sail or in any manner dispose of all or a portion of the Property, \MIlch is subject to this Mortgage prior to fulfilling this agreement and the and of the amortization period. Contacting the Lender wlllaso ensure that the Securtty Instrument may be ~ AIduced Incremen1a/ly for each year of the affordablllty period, according to an amortization sc:hedule baed on the annlwrsary data of the date the mortgage was I1ICOrded, The Lender shall have the authority to disapprove any diSposal v.tJere the proceeds of such \i\IOuld be less than fair-marKel value as determined by an independent appraisal by a State Certified Residential Appraiser. if there is no net proceeds from the foreclosure, repayment is not required and HOME requirements are considered to be satisfied. In the event of the death of the Borrower{ s) prior to expiraUon of the affordability period has been attained, all of the debt VIIIU be forgiven. 2. Taxes. The Mortgagor will pay all taxes. assessments. sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall payor cause to be paid, as the same respectively become due, (AX1) all taxes and governmental charges of any kind \MIatsoever \MIich may at any Ume be lawfully assessed or levied against or with respect to the Property, (2) all utility and Other charges, including "selVice chaJges", Inwrred or imposed for the operation, maintenance. use, occuplW1Cy, upkeep and improvement of the Property, and (3) all assessments or other governmental charges that may IlMofully be pad in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to payor cause to be paid only such installments as are required to be paid during the tenn of the Mortgage, and shall, prompUy after the payment of any of the foregoing, fOlWllrd to Mortgagee evidence of such payment. . 3. Appll~tion of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applIed; first, to pnncpal due; and last, to any late cnarges due under the Mortgage. Paae 1 of 4 OR: 4177~~~;~~',1~~~ Page 52 of 58 4. Charges; Uens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property. which may attain priority over this Security Instrument, and leasehold payments or ground rents. if any. Borrower shall prompUy furnish to Lender all notices of amounts to be paid under this paragraph, and all receipts evidencing the payments, Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by. or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detennines that any part of the Property is SUbject to a lien, which may attain priority over the Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the issuance of notice. 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by lire. 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 carrier providing the insurance shall be chosen by Borrower subject to Lender's approval. which shall not be unreasonably withheld. If Borrower fails to maintain coverage desaibed above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. At all times that the Mortgage 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 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 times 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 promptiy 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, if the restoration or repair is economically feasible and Lender's security is not lessened. If 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 then 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 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. Th~. l4l1![I.. .od. will begin when the notice is mailed. Unless Lender and Borrower otherwise agree in writing, any apPlicat!PR1lf~'/Opnncipal shall not extend or postpone the due date of the monthly payments referred to in paragraph 1.e(cI'\a~urit(01~e)l~ments. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any.Ar1~rtOe-policies and ~r-l1jSIllting from damage to the Property prior to the acquisition shall pass to Lender to the exten@hbe'sums secured by this Seb.Jrl/Y1nstrument immediately prior to the acquisition. 6.Occupancy. preservation/ MaIntenance and Protection of )he Ptoperty; Borrower's Loan Application, Leaseholds. Borrower shall occupy. ~tabIISh. ~~d ,);,se tfi'8.f.!rop~\~\Borrowe~\s priilppal residence within sixty days after the execution of this Security Instrument and s)'lall clllilinOll.,to opGl{PY the Prpperty as~orrclwer's principal residence for at least the affordability period after the date of otcupa~~llles~~ 0\berwiSe..~ ill,"')ol';ting, 'which consent shall not be unreasonably withheld. or unless extenuating circulnsta!\ceslilXi!l1 Which)re,\>eYlii<l Bqrlovkr'h't:ohtrol. \ Borrower shall not destroy. damage or impair the Property, allow the Property to. 4e.te+orat~. .orlco~mil ~~ ttf, p~periY.. BcilTO'Ner shall be in default if any forleiture action or proceeding, whether.avilorl!9"":lll\~I,~~,n ~t iryt:.~ctlts g .. d.9f-]tcould result in forfeiture of the Property Of otherWise matenaiiy "npalr me lien ~lea.t>y'll1IS :;ect1rtty Instroment o. ynty Interest. Borrower may cure such a default and reinstate, as provided in\paJil~raph 18. by causing the ~ion 01 P, . ~g to be dismissed with a ruling that, in Lender's good fai.th deten:nination, preCfUjjlS~orfeiture of.the Borrowe.~ljbter9st \fl' ~operty or other material impairment of the hen created by thiS Secunty Instrumentll!~ntler's secunty Interest. Borr~r~.an.elso be In default If Borrower, dunng the loan application process, gave materially false.,9(Tha~urate information or statementMoLender (or failed to provide Lender with any material infonnation) in connection with ~ €i!t;SlIidenced by the JyIeri'9;;i.'gej'4hcluding, but not limited to, representations concerning Borrower's occupancy of the ProPef.\fllS.ipi'i!1CiIlBI.resjflilnce..JflhIS Security Instrument is on leasehold, Borrower shall comply with all the provision ofthe lease. If !:lortP_.ieI ~~t€e~ ffielitie10 the Property. the leasehold and the fee title shall not merge unless Lender agrees to the merger in wriltng. ~ 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation orforleiture or to enforce laws or regulations). then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien, which has priority over this Security Instrument. appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. . 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason. the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain 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 equivaient 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 ioss reserve in lieu of mortgage insurance. Loss reserve payments may no longer be required. at the option of Lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends In accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any part of the Property. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the 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 fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking. unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be apphed to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrowerotherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amounl of such payments. Page 2 of 4 OR: 4177 .pGyna~6~m No. 1604 january 11, 2011 Page 53 of 58 11. Borrower Not Released, Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence Proceedings against any successor in interest or refuse to extend time for payment orothetWise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or precl ude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions of Paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who arsigns this Security Instrument but does not execute the Note; (a) is arsigning this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the tenns of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to BorroINer. If a refund reduces principal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering n 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 Law; Severability. Federal law and the law of the jurisdiction in which the property is located shall govem this Security Instrument. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one confonned copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficiallnterestin Borrower. If all or any part of the Property or any interest in n is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, Lender shall not exercise this option if federal law as of the date of this Security Instrument prohibits exercise. If Lender exercised this option, Lender shallgi~tice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is deliV~red..-.or'fll~fM~1fi1} ~.iM.Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sum!,.p~'\o.l~~o:cl!!t\j&~~, Lender may invoke any remedies pennitted by this Security Instrument without further notice ~d on Borrower ~vl' t "- 18. Borrower's Right to Reins€.tlr,/1f Borrower meets certalrt'<(Eli1(jjfjons, Borrower shall have the right to have enforcement of this Security lnstrumen( disc:P~i!lany time prior to the..ear1i~ of: (a) 5 days (or such other penod as applicable law may Specify for reinstat~menU' bet~ale df-tf1ef>/9pEl.Ity,pursuant,to a~ power of sale contained in this Security Instrument; or (b) entry of a judgmentenfor6ng this ~rity~ment. \Those CO~ditiol'ls are that Borrower. (a) pays Lender all sums which then lNOuld be due und+r thi~ S~ ~stt'rifnent~,liIomce~o a~eleration had occurred; (b) cures and default of any other covenants or agr,~emerits;;t c) 'pays all ~x~n$e~Jf1cJrrlad O\.enfoTcingithiS Security Instrument, including, but not limited to, reasonable attomey's~; ~d (d) ta~s ~ucljl aclidn f!S'!:'i!lnd'iif m~y r~n~bly require to assure that the lien of this Security Instrument, Lender's rights i~ ~~ PTO~),cj ~ds Qbligatio.r\!to h<;,y lhln'~ms secured by this Securi~1 !nsLn-:ment snail continue unchanged. Upon reio~teme'11r6y Borro-wer, tn,s S~rity Inst1ume~~d the obligations secured hereby shall remain fully effective as if no acceleralio..P-t!ad Occurred. However, thiffiQht toJrein$t.i!~ Shall not apply in the case of acceleration under paragraph 17. \- > j\ ~9.'" / I-,,! 19. Sale of Note; Change o(''t:.oah Servicer, The Note or a 1p8!1li;lf in~test in the Note (together with this Security Instrument) may be sold one or rTlClre tim~s~ "-1thi:l~rior notice to Borrower.)(~ale-i},~y result in a change in the entity (known as the "Loan Servicer") that coliects monthly pay.rtlJli1ts:"lJ~ under the Note.i!fid,'\(1fs;silcurity Instrument. There also may be one or more changes of the Loan Servicer unreiated'loji' s<jle. -.opp.~e'~ote:::.... ..'. ~f,1fiem)lra change of the Loan Servicer, Borrower will be given written notice of the change in a=rdance Wltn:l:l~ag~Ptt14\al'f1;1)PPficable law. The notice will state the name and address of the new Loan Servicer and the address to which paymems-shoulCfoe made. The notice wili also contain any other information 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 normal residential uses and to maintenance of the Property. Borrower shali 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 Lawof which Borrower has actual knowledge. If Borrower leams, or is notified by any govemmental or regulatory authority, that any rerTlClval or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall prompUy take all necessary remedial actions in a=rdance 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 matenals. 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; 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 onor 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 further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure process the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default Is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of ali sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial prOceeding. Lender shall be entiUed to collect ali expenses incurred in pursuing the remedies provided in this paragraph 21, induding, 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" shali indude any attorneys' fees awarded by an appeliate court. Page 3 of 4 *** OR: 4177 ~d8766m*~t. 1604 January 11, 2011 Page 54 of 58 24. Riders to this Security Instrument If one or more riders are executed by Borrower and reoJrded together INith this Security Instrument, the CXlvenants and agreements of each such rider shall be inCXIrporated into and shall amend and supplement the CXlvenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. (Check Applicable Box) n n n LJ Adjustable Rate Rider LJ Rate Improvement Rider LJ Condominium Rider n " " LJ Graduated Payment Rider LJ 1-4 Family Rider LJ SeoJnd Home Rider n n n LJ Balloon Rider LJ Biweekly Payment Rider LJ Planned Unit Development Rider n LJ Other( s) (specify SIGNING BELOW, Borrower accepts and agrees to the tenns and CXlvenants CXlntained in this Security Instrument and in any rider( s) executed by Borrower and recorded with it. :==:~~~~ A~E,~ Signature: '4.~v~J)~ / Borrower Signature: Borrower Witness Signature: Witness Print Name: ~ lp,-.;k b J., r>(...( Address: \ 'eo ;}. 5\-.ert'<"'G.n n \l ~ ~\a-\~c- f\ ~l\t4~ STATE OF COUNTY OF Florida Collier --:::-:----... /~tR caul;-- I hereby certify that on this day. bef9(eDl. -\ ~~lho~' ~~e state aforesaid and in the county aforesaid to /V"k ~.~\ take acknowiedgements. personally a(!Pllared' :Vlo.l-b~\-tne:z.. I ,me Kf.!own to be the person(s) described in and / I' '--.J\ ~\ who executed Ihe foregoing instrume'nt anD ackjf~~~tbe~re me~hal HE! H HEY executed lhe same for the purpose -- c!cc@r~TI'!J. WITNESS my hand and official seal\ii)...lhe CCll1f1ly anCrslale aforesaid this '. ! ~ l)\ \.D \ :x-r,~ \', ......,\ \~_. I / "~I / . \"\\" ...J.'"' J I........... / \.~ \. -'ft.', "_C!)/ Notary Pub', My Commission Expires: (SEAL) Relurn 10: Collier County FAH Single Family Rehabilitation Loan Program 2800 N. Horseshoe Drive, Suile 400 Naples, FL 34104 Project # HM 04-05-014 WEIIIlY A. kLOPF MY COMMISSION' DO 300746 EXPIRES: April 12, 2008 _n.u_,.,p""'.............. G:\GRANTSIHOMEI2004-2005 PROJECTSISINGLE-FAMIL Y REHABIMARTINEZ, LesviaIMortgage 5 years.doc Page 4 of 4 Retn: HOUSIRG . GRARTS CBDG BORSISBOI DR ml: IIIDY nopp 3925279 OR: 4131 PG: 1099 RBCORDBD in the OFFICIAL RBCORDS of COLLIBR COUHTY, PL 1110112006 at 03:15PM DWIGHT B, BROCE. CLBRl o~enda8lffu!D'o No. 1604 OBLI J a8flfflDY 11, 2011 RBC PII ffflge 55 of 58 DOc- .35 29.05 Project Number HM 03-04-0011 MORTGAGE THIS MORTGAGE ("Security Instrument") is given on 10/5/2005 The Mortgagor is: Patricia Lane, a single woman ("Borrowe!"). ThisSecuritylnstrumentisgivento~ Countv ('Lendel"), which is organized and existing under the laws of the United States of America, and whose address is: 3050 North Horseshoe Drive Suite 1 1 0 Naoles Florida 34104 Borrower owes Lender the sum of Eiaht Thousand Two Hundred Fortv Dollars and no/100 (SS.240.00l. This debt is evidenced by 80rr0wer's Note dated the same date as this Security Instrument (" Mortgage"), which provides for the full debt, if not paid earlier, due and payable on transfer of tiUe. sale of property, refinance, or loss of homestead exemption. This Morta_ will be foratven at the ftve /5\ VBar anniversary date of mortaaae. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the mortgage, and all renewals, elrtensions and modifications; (b) the payment of all other sums, under paragraph 7 to protect the security of the Securlty Instrument; and (e) the performance of Borrowe~s covenants and agreements under this Securlty Instrument and the Mortgage For this purpose, Borrower does hereby, convey to Lender the following described property located in Collier County, Florida. More particularly described as: Lot 10, Collier Village, as Recorded in Plat Book 17, pages 60-62 Public Records, Collier County. Foll0#27192503605 and which has the address of:620 Hope Circle Immokalee, FI 34142 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. The Security Instrument shall also COver all replacements and additions, All of the foregoing is referred to in this Security Instrument as the "Property". BORROWER COVENANTS that Borrower is lawfu~ed of the property described above, and has the right to mortgage, the Property and that the Property is u. '.!~~-"-'1! record. Borrower warrants and will defend generally the tilie to the Property against all daims and 9erill\~~e~brances of record. THIS SECURITY INSTRUMENT ~rliIOrm covenants1&' r'il!Ilil3(lal use and non-uniform covenants with limited variation by jurisdiction to constitute a uni~rity instrument coverilill{~perty. UNIFORM COVENANTS. '~1iind Lender covenant and agr~ as foll(l'M;: 1. TERMS: The Borrower) ofjhis ~brtg~e~giiiifed~ 'Defe~ R~ayment Loan,' the terms of which are intendfid to qh~ ~@:Ilt.eslr.n\lllt.fa~hip ~d (HOME) funds utilized to facilitate the rehabilitation of this Property are recapturff arnf'UglitediOaSsis18fl~'KnWr-'ibcom. e tiom. . e owner with rehabilitation unless the affordabil~requirementsaremet. (,-, Ie L;~ lJ) r ~ Y ).~ ) The tenns of this Mc?.,g~g4H:I6 nOHetjuite-tQ.at paymellt~~ made as long as the makers comply with the following co~~~~ns and provisionsj~f .) / .::. ;, / 'o.,.,j. \ -"iit / (1 / Borrower shall occupy the PI'C!i!l$Jf\Y'$ their principal residence...,.s_~ett1f)g of the Property is not allowed even on a temporary basis. Failure to abide by the.,~ril)clpal occupancy requirement$..cafr/E!sult in foreclosure. The Borrower shall be required to submit proof of principal OCCUpB~Ao!_H~_2.<>unty on ar:Ul~nfitl~\ 6~ls beginning on the anniversary of the first-year occupancy and annually until the end of the 1il(lil ~lJl1l2:aJlOn oeriod: Such proof shall indude: proof of homestead exemption, copies of paid receipts for taxes and insu '_' tand_copr~~6f.jriSurance certificates for owner-occupied Property listing Colher County as Mortgage Holder. If the Borrower fails lalJrOVlttesufficient proof of occupancy in a timely manner. the Lender may contract with an independenttilie company to perform the necessary titie rEK:ertification, the cost of which will be added to the principal amount of this Mortgage. In the event the Borrower cease principal occupancy, transfer, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage prior to fulfilling the agreement and the end of the amortization, then the principal amount of this Mortgage shall become immediately due and payable. The Borrower shall not refinance the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there will be sufficient equity after the proposed refinancing to recapture the HOME monies. The Lender consents to any agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any proviSions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contad the Lender to obtain approval should they desire to transfer, assign, sell or in any manner dispose of all or a portion of the Property, which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will aiso ensure that the Security Instrument may be appropriately reduced incrementally for each year 0/ the affordability period, aCCOrding to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The Lender shall have the authority to disapprove any disposal where the proceeds of such would be less than fair-mal1<et value as determined by an independent appraisal by a State Certified Residential Appraiser. f there is no net proceeds from the fOreclosure, repayment is not required and HOME requirements are considered to be satisfied. /n the event of the death of the Borrower( s) prior to expiration of the, afford ability period has been attained, all of the debt will be forgiven. 2. Taxes. The Mortgagor will pay all taxes, assessments, sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall payor cause to be paid, as the same respectively become due, (AX1) all taxes and govemmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respect to the Property, (2) all utility and other charges, induding .service charges", incurred or imposed for the opel'alion, maintenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other govemmental charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to payor cause to be paid only such installments as are required to be paid during the term of the Mortgage, and shall. promptly after the payment of any of the foregoing, forward to Mortgagee evidence of such payment. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applied; first, to principal due; and last, to any late charges due under the Mortgage. Page 1 of 4 OR.' 4131~nd~.'1~m No. 1604 flj: ~ry 11, 2011 Page 56 of 58 4. Charges; UeI11l. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property, which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall promptly fumish to lender all notices of amounts to be paid under this paragraph, and all receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to lender; (b) oontests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the lende~s opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to lender subordinating the lien to this Security Instrument. If lender detennines thet any part of the Property is subject to a lien, which may attain priority over the Security Instrument, lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the issuance of notice. 5. Hazard or Property Insurance, Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the tenn "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 be chosen by Borrower subject to Lende~s approval, which shall not be unreasonably withheld. If Borrowerfails to maintain coverage desaibed above, Lender may, at Lender's option, obtain ooverage to protect Lender's rights in the Property in accordance with paragraph 7. At all times that the Mortgage 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 the interests of the Mortgagor and Mortgagee against loss or damage to the Premises by fire, lightning, and other casualties aJStomarily insured against (including boiler explosion, if appropriate), with a unifonn standard extended ooverage endorsement, including debris removal ooverage. Such insurance at all times to be in an amount not less than the full replacement oost of the Premises, exclusive of footings and foundations. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage dause. Lender shall have the right to hold the policies and renewals. If lender requires, Bonower shall prompliy 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 Bonower. 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 Lende~s security is not lessened. If the restoration or repair is not economically feasible or lende(s security would be lessened, the insurance proceeds shall be applied to the sums secured by the Security Instrument. whether or not then 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 carrier has offered to selUe a claim, then Lender may oolled 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. T~od will begin when the notice is mailed, Unless Lender and Borrower otherwise agree in writing, any apP/icaOOrr. r.~:Of~ _. . 5 /D'IfI -1:JGiI!a1 shall not extend or postpone the due date of the monthly payments referred to in paragraPh~. .-' cl\.~.d)t1myments. If under paragraph 21 the Property is acquired by Lender, Borrowe~s right to any{.. 'policies and proceed(~lting from damage to the Property prior to the acquisition shall pass to Lender to the e~ .' sums secured by this se6U,(it1Ins!;Nment immediately prior to the acquisition. 6.Occupancy, Preservatlo!T.' Mannenanee and Protection of 'U1e P~perty; Borrower's Loan Application. Leaseholds, Borrower shall occupy, F5tabpSh,)Ind use ti1e~as\BolTOlNEi~s principal residence within sixty days after the execution of this Security Instrument,and ~all oo~.to ~py the Prpperty as'~orrOwer's principal residence for at least the afIordability period r after the date' of ~,~.l~c:agf~S ~ writing, which consent shall not be unreasonably withheld, or unless ex1enu<!ljhg PrcUlns~~ ~ Wili:n aril.~rfd I\IorroV.ier's control. Bonower shall not destroy, damage or impair the Property, allO'ojts th~ Pro'perty \0 det6l10rSl~, ~mmll\w.lSle or the!Property. Borrower shall be in defautt if any forfeiture action or proceeding, ~ciiQLo(,Qj.m~, i~U!.that inJ,ertl,er'~ Poop faith judgment OOLJld result in fOOooure of lI1e Property or otherwise materia~y,.iID~l1hl!'lien Cni3t8d bYllliQecuntt, Instnil1l!!\t or Lender's security interest. Borrower may cure such a default and reinstatll,'JS, ~rovided in paragraph 18, -~1.causing tIJl!'llctjOn or proceeding to be dismissed with a ruling that. in Lende~s good faith detemliilatjon, precludes forfeiture<<,!!le ~orrPwer~ interest in the Property or other material impairment of the lien created by this\~~ Instrument or Lender's I.seeu,:rty-ll'ltei-est. Bonower shall also be in default if Borrower, during the loan application Prote&s, .save materially false or inaccU(iatEl'iriklnnation or statements to Lender (or failed to provide lender with any material infOnnatiOfl~lo.~~o.n with the Io11P-ei.., V4~~ by the Mortgage, including, but not limited to, representations oonceming Borrower's occu~Cy It\h~rO~~ll~'P;}pcipal residence. If this Security Instrument is on leasehold, Borrower shall oomply will1 all the proVlsiQn~ 6t1~Ie<lj!il:lfi:!!)m>wer acquires fee tilie to the Property, the leasehold and the fee tiUe shall not merge unless lender agrees to thlfmergerirniiinting. 7, Protection of Lender's Rights In the Property. If Bonower fails to perfonn the oovenants and agreements oontained in this Security Instrument, or there is a legal proceeding that may significanUy affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for oondemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and lender's rights in the Property. lende~s actions may indude paying any sums secured by a lien. which has priority over this Security Instrument, appearing in oourt, paying reasonable attomeys' 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 beoome additional debt of Borrower secured by this Security Instrument. . 8. Mortgage Insurance, If Lender required mortgage insurance as a oondition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance ooverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain ooverage substantially equivalent to the mortgage insurance previously in effect, at a oost substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an altemate 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-'-Iflh of the yearly mortgage insurance premium being paid by Bonower when the insurance ooverage 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 ooverage (in the amount and forthe period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection, lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation, The proceeds of any award or claim for damages, direct or oonsequentiai, in oonneclion with any oondemnation or other taking of any part of the Property, or for conveyance in lieu of oondemnation, 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 not then due, with any excess paid to Borrower. In the event of a partial taking of the Property. in which the fair mar1<.et 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 laking, unless Borrower and Lender otherwise agree in writing, lI1e sums secured by this Security Instrument shall be reduced by lI1e amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair mar1<.et value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking, unless Borrower and Lender othetWise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change Page 2 of 4 OR' 4131 ~n~~H:fm No. 1604 , Fu-; MtYJary 11, 2011 Page 57 of 58 the amount of such payments. 11. Borrower Not Released, Forbearance By Lender Nota WaiYer. Extension of the time for payment or modification of amortization of the sums secured by this SeaJrity Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original BllITOIWI' or florrooNer's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Uabillty; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions of Paragraph 17. Borrower's covenants and agreements shalf be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without that Borrower's consent. 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the pennitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded pennitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces prindpal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notice., Any notice to Borrower provided for in this Securtty Instrument 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. Goveming Law; Severability. Federal law and the law of the jurisdiction in which the property is located shall govern this Security Instrument. In the event that any proviSion or clause of this Security Instrument or the Note conflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one confonned copy of the Note and of this Security Instrument, 17. Transfer of the Property or a Beneficial Interest in Borro_r. If all or any part of the Property or any interest in it is sold or transferred (or if a benefidaJ interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may. at its option, require immediate payment in full of all sums secured by this Security Instrument. However. Lender shall not exercise this option if federal law as of the date of this Security Instrument prohibits ~~e::: exercised this option. Lender shall 9iV~.~.~~.8fa~on.. The notice shall provide a pefiod of not less than 30 days from the date the notice is delivm:~(r -9r 'ma!I_~~_~r must pay all sums secured by this Security Instrument. If Borrower fails to pay these. S~.6WMO the expiration of thi~ned,Lender may invoke any remedies permitted by this Security Instrument without further ?Citi\;!l~emand on Borrower. . "{- \ 18, Borrower's Right to Relns~BolIOWer meets certain cnnditioos, Borrower shall have the right to have enforcement of this Security InstrumSnt dj$corm~_at''any1ime-jt1Qr to the 'e,ar1iei\of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before s~_ot-tl'le.,ProP8rtY\Pursuant'o any' power of sale contained in this Security Instrument; or (b) entry of a judgmerJ! enfO~ ~~n~, \~~ditio~s are that Borrower. (a) pays Lender all sums which then would be due under thl' SecuittVlnstrument' n)he!N~te'~'if .0 acceleration had occurred; (b) cures and default of any other covenants or a9r~nts\; (c) pays!all ~~ 6urr~ i"lenfcTrpn!i this Security Instrument. induding, but not limited to, reasonable attomey's Jet'ili;\aqp fd),t8Kes ~t>n Lendir mav r&amablv require to assure that the lien of this Security Instrument. Lender's rights il;1~ 'froperty andlrorrower's liQIigation10 pay \fi&,'~ secured by this Security Instrument shall continue unchanged. Upon reif!~er,nent by Borrower, this S~~ty Irist"J,fI1e.Qt and the obligations secured hereby shafl remain fully effective as if no acceleratiOlJ'!\ac;1 occurred. However, tht!i~t tJ, reinSlal~ shall not apply In the case of acceleration under paragraph 17. \ f4-\- \ y/ (?/ 19. Sale of Note; Change oK,oaD..~rvicer, The Note Dr a pal1ial rryterest in the Note (together with this Security Instrument) may be sold one or more times'Wi.!bo!'i;P~.noUticece. t too B BQ!o~.'r.\:" ~!ile may result in a change in the entity (known as the "Loan Servicer") that collects monthly payrTle(1tspUF !l~~\8ahdJhls Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to ii'llal@_M1tbetlole~e is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragFclprrrll and applicable law. The notice will state 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 infonnation required by applicable law. 20. Hazardous Substances. Borrower shall not cause or pennit 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 nonnal 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 learns, or is notified by any govemmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary. Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, -Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents. materials containing asbestos or fonnaldehyde, 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; 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 iaw 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 judidal Proceeding and sale of the Property. The notice shall further infonn Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure process the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorney's fees and costs of the title evidence. 22. Release. Upon payment of 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 attomeys' fees awarded by an appellate court. Page 3 of 4 *** OR: 4131A'G~~tt~~,b~~~ Page 58 of 58 24. Ride,. to this Security Instrument If one or more riders are executed by Borrower and recorded together IMlh this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. (Check Applicable Box) r1 r1 r1 LJ Adjustable Rate Rider LJ Rate Improvement Rider LJ Condominium Rider r1 r1 r1 LJ Graduated Payment Rider LJ 1-4 Family Rider LJ Second Home Rider r1 r1 r1 LJ Balloon Rider LJ Biweekly Payment Rider LJ Planned Unit Development Rider r1 LJ Other(s) (specify SIGNING BELOW. BOi'TOVl/llr accepts and agrees to the terms and covenants rider(s) executed by Boi'TOVl/llr and recorded with it. Signed, sealed and delivered in the presence of: Witness Signature: ~~ W;m_"'."",,, . ~ '''':'' WitnesS Signature: ~ ~ ~ Witness Print Name: 7" /.......L t. -r. r"~ ~ Address: lod.c~("c: ~ :t~ ~\ ~\\Q STATE OF COUNTY OF Florida Collier /.. \)"t..R Co U1V I hereby certify that on this day, ~~~~~' state aforesaid and in the county aforesaid 10 take acknowledgements, personally a~re<f~~-kCtC. ~'\e "?o'{Tle~ to be the person(s) descnbed In and I I ' .~\ \ \ :::=-"'''"T1(~oed~~jl-i\\YT:r....,",~_..m.,"- ,r-\\ l.1\ J r J ( .:--, , ., .J \ '---" "'----- ~ ~ I.--V J \ 1"'-..'--"- WITNESS my hand and official sealii~e County and Stale aforesBj9this I :' --.' .0 __ '-' '-P \~..\ ..11, ) / .....'/ \, ". ~,._. /'1/ J,":,"'\ _ft rv~/.>.I...,/ My Commission Expires: NA...<10 .N. l't ~ . ..' I .' , Notary Publ~s ~.nCltu . ..... \.o....G. /. . '.. ~ ;1 ~~~~{r\~~;/ Notary's Printed Na . . ::"'~~.::'-/ (SEAL) Return to: Collier County FAH Single Family Rehabilitation Loan Program 2800 N. Horseshoe Drive. Suite 400 Naples. FL 34104 WENDy A.1<I.0Pf MY COMMISSION I DO 3097~ EXPIRES: April \2,2008 _--'1"""'- Project # HM 03-04-0011 Page 4 of 4