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Agenda 01/11/2011 Item #16D 6 Aoenda Item No. 1606 ~ January 11, 2011 Page 1 of 27 EXECUTIVE SUMMARY Recommendation to approve and authorize the Chairman to sign three (3) Mortgage and Note Modification Agreements for Single Family Rehabilitation to correct the total funds disbursed on previously recorded security instruments. OBJECTIVE: To approve and authorize the Chairman to sign three (3) Mortgage and Note Modification Agreements for Single Family Rehabilitation to correct the total funds disbursed on previously recorded security instruments. CONSIDERATIONS: Income qualified participants in the Single Family Rehabilitation program must sign a second mortgage and promissory note prior to any work being performed on their home. The purpose of this process is to ensure the County's financial investment in the project is protected. Upon completion of the rehabilitation, the Housing, Human and Veterans Department determines the total disbursements on each project. Oftentimes the total disbursements are less than the amount awarded and secured by the recorded security instrument. In order to ensure that the public records and recipient files accurately reflect the total disbursement per project, staff recommends approval of the attached Mortgage and Note Modification Agreements. Approval of this item will correct the following: Applicant(s) File Number Mortgage Amount Final Project Mortgage Being Recorded Expenditures Replaced Juan M. Martinez and Maria E. 09-033R $30,000.00 $13,599.00 OR 4536, PG 1321 Hernandez Pedro A. Rodriguez and Danay ER08-09-001 It 1 n nnn nn It') ":;0,) nn OR 4552, PG 80 Rodriguez >..j.J J. v,vvv.vv ...v.....,VJ......vv Mary C. McCoy 09-030R $15,000,00 $14,719,00 OR 4444, PG 3161 FISCAL IMPACT: None. GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this Executive Summary. LEGAL CONSIDERATIONS: This item is legally sufficient for Board action. This item requires a snT Ie majority vote. - JBW 'IT FF RECOMMENDATION: To approve and authorize the Chainnan to sign three (3) Mortgage '1C .Jote Modification Agreements for Single Family Rehabilitation to correct the total funds disbursed nJ .'viously recorded security instruments. )REPARED BY: Frank Ramsey, Housing Manager, Housing, Human and Veteran Services Item Number: Item Summary: Meeting Date: Agenda Item No. 1606 January 11, 2011 Page 2 of 27 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS 1606 Recommendation to approve and authorize the Chairman to sign three (3) Mortgage and Note Modification Agreements for Single Family Rehabilitation to correct the total funds disbursed on previously recorded security instruments. 1/11/2011 9:00:00 AM Approved By Marcy Krumbine Public Services Division Director - Housing & Human Services Date Human Services 12/22/20103:13 PM Approved By Marla Ramsey Public Services Division Administrator - Public Services Date Public Services Division 12/23/201012:12 PM Approved By Sherry Pryor Office of Management & Budget Management/ Budget Analyst, Senior Date Office of Management & Budget 1/4/20119:16 AM Approved By Leo E. Ochs, Jr. County Managers Office County Manager Date County Managers Office 1/4/20113:16 PM Agenda Item No. 1606 January 11, 2011 Page 3 of 27 ... Prepared by and return to: Priscilla Doria Housing, Human and Veteran Services 3339 E. Tamiami Trail, #211 Naples, FL 34112 MORTGAGE AND NOTE MODIFICATION AGREEMENT THIS IS a Mortgage and Note Modification Agreement, made effective as of the 22nd day of October, 2010, by and between Juan M. Hernandez and Maria E. Hernandez, hereinafter called "Borrower" and the Collier County, hereinafter called "Lender." WITNESSETH: In consideration of the mutual covenants contained herein, the Borrower and the Lender agree that: 1. Promissory Note and Mortgage. Borrower has given to Lender, a promissory note and mortgage dated February 5, 2010 filed February 9, 2010 and recorded in O.R. Book 4536, Page 1321, in the Public Records of Collier County, Florida, collectively referred to hereinafter as the "Loan Documents" encumbering the following described real property (the "Property") : More particularly described as: New Market Subdivision, Elk 15, Lots 11 & 12, Public Records of Collier County, Florida. Folio # 63854840000 Borrower warrants that it is the present owner in fee simple of the Property. Lender warrants that it is the present owner and holder of said note and mortgage and that no judgment liens have been recorded on the Property subsequent to the Mortgage being recorded. Both parties warrant they have good right and authority to enter into the Mortgage and Note Modification Agreement. 2. Status of Payments. Presently no payments are required under the Loan Documents and the mortgage and promissory note are not in default. 3. Modification. In consideration of the mutual covenants herein and other good and valuable considerations, the parties agree that said promissory note and mortgage are modified as follows: (a) The principal balance of the promissory note is now $13.599.00, which shall be at the rate of zero percent per annum. (b) No Payments are required as long as the Borrower does not sell, refinance or lose the Homestead Exemption on the Property. Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $15,000.00, recorded in Official Records Book, 4478, Page 2476, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. Agenda Item No 1606 January 11, 2011 Page 4 of 27 4. Other Terms. Notwithstanding anything to the contrary herein or in the Renewal Note or Mortgage, the lien and operation of the Mortgage shall continue in full force and effect except as modified by this Agreement. All other terms of said Loan Documents remain unchanged. 5. Compliance. The Borrower covenants and agrees to perform, comply with, and abide by each and every one of the provisions of the Loan Documents, as modified hereby. 6. Agreement Binding. This Agreement shall be binding upon and inure to the benefit of the heirs, legal representatives, and assigns of the Borrower and to the successors and assigns of the Lender. 7. The Borrower and Lender agree that this Agreement shall not constitute a notation of the Mortgage and Note and shall in no way adversely affect the lien priority of the Note and Mortgage nor shall be constructed to be a release in whole or in part of the Note and Mortgage, and that except as specifically modified herein, the Mortgage and note shall remain unchanged and will continue in full force and effect. In Witness Whereof, the parties have caused this Agreement to be executed as of the date first above written. Sjrn10A rorrleA r"'IA AeT;"e"eA - ..o'n....w., ....,~.....,.. lAo, win.... Ul ".y , ..... in the presence of ~ l-'Y'- an M. Hernandez e,LfL Witness - Chri S IOW"lSCt'\o{ ~/ V 19 Borrower: STATE OF FLORIDA COUNTY OF COLLIER THE FOREGOING instrument was acknowledged before me this ~J day of~, 2010, by Juan M. Hernandez and Maria E. Hernandez, who is X _./ personally known to ~.5..9.t~h9..hM.Rt9.cJ.v.~$Wd.! - as identification. : PRISCillA DORIA : lJ E "'''\~';ff''''<:. Comm# 000891636 E 5 . ~~ Expires 5/20/2013 E (SEAL) i ..".,JV F1orlda"_...._ "" i . - - <D -r~ ~.P D ~.....I:~~~'............n.........."'''''''''. Notary PublIC Pr isci IIG.. Oor;<- Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $15,000.00, recorded in Official Records Book, 4478, Page 2476, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. Agenda Item No. 1606 January 11, 2011 Page 5 of 27 Lender: Collier County Attest: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA, By: By: FRED W. COYLE, CHAIRMAN , Deputy Clerk Approved as to form and legal sufficiency: Jennifer~~~~\.L Assistant County Attorney J y Krumbine, Director Housing, Human & Veteran Services IO-IMP-0008512 Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $15,000.00, recorded in Official Records Book, 4478, Page 2476, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. Agenda Item No. 1606 January 11, 2011 Page 6 of 27 Prepared by and return to: Priscilla Doria Housing & Human Services 3301 E. Tamiami Trail, Bldg H, #211 Naples, FL 34112 MORTGAGE MODIFICATION AGREEMENT TIDS IS a Mortgage Modification Agreement, made effective as of the 10th day of December, 2010, by and between Pedro A. Rodriguez and Danay Rodriguez, hereinafter called "Borrower" and the Collier County, hereinafter called "Lender." WITNESSETH: In consideration of the mutual covenants contained herein, the Borrower and the Lender agree that: 1. Promissory Note and Mortgage. Borrower has given to Lender, a promissory note and mortgage dated March 25, 2010, filed April 1, 2010, and recorded in O.R. Book 4552, Page 80, in the Public Records of Collier County, Florida. Borrower warrants that it is still the owner of the property. Lender warrants that it is still owner and holder of said note and mortgage. Both parties warrant they have good right and authority to enter into the Mortgage Modification Agreement. 2. Status of Payments. There are no payments required and the mortgage and promissory note are not in default. 3. Modification. In consideration of the mutual covenants herein and other good and valuable considerations, the parties agree that said promissory note and mortgage are modified as follows: (a) The principal balance of the promissory note is now $2.692.00, which shall at the rate of zero percent per annum. (b) No Payments are required as long as the homeowner does not sell, refinance or lose their Homestead Exemption. The term of the loan is 15 years and every 5 years 1/3 is forgiven so that at the end of the term the note is paid in full. 4. Other Terms. Notwithstanding anything to the contrary herein or in the Renewal Note or Mortgage, the lien and operation of the Mortgage shall continue in full force and effect except as modified by this agreement. All other terms of said note and mortgage remain unchanged. -1- Agenda Item No. 1606 January 11,2011 Page 7 of 27 4. Other Terms. Notwithstanding anything to the contrary herein or in the Renewal Note or Mortgage, the lien and operation of the Mortgage shall continue in full force and effect except as modified by this Agreement. All other terms of said Loan Documents remain unchanged. 5. Compliance. The Borrower covenants and agrees to perform, comply with, and abide by each and every one of the provisions of the Loan Documents, as modified hereby. 6. Agreement Binding. This Agreement shall be binding upon and inure to the benefit of the heirs, legal representatives, and assigns of the Borrower and to the successors and assigns of the Lender. 7. The Borrower and Lender agree that this Agreement shall not constitute a notation of the Mortgage and Note and shall in no way adversely affect the lien priority of the Note and Mortgage nor shall be constructed to be a release in whole or in part of the Note and Mortgage, and that except as specifically modified herein, the Mortgage and note shall remain unchanged and will continue in full force and effect. In Witness Whereof, the parties have caused this Agreement to be executed as of the date first above written. Signed, sealed, and delivered in the presence of Borrower: ?~ B ~:jllEL- Pedro. . Rodriguez n\~Q Witness 7dsci/)A. Do/,,'c... Co STATE OF FLORIDA COUNTY OF COLLIER )) THE FOREGOING instrument was acknowledged before me this .J...J1!:' day of e c (' w' h.,Vl" , 2010, by Pedro A. Rodrieuez and Danav Rodrieuez, who is ~ personallv known to me or who has produced as i dentifi cati on......................... I......U ............. : PRISCILLA DORIA :: (SEAL) 5 ,\\"\~Il:rlq,, Comm# 000891636 :: : .$~~' :-~ : :: so;: . 'Z~ Expires 5120/2013 i : ~.:"" n-- .'~_ ' : : il'\\~'." '._'r. 1,j'ltaIYAssn.,lnc : "'........ ... 1. :.,H1 0: '<~ f' :H' .,."t'fo 'fill................. !:J, -~ tJ Notary Pu~ Name: ISC;)/l!.- [j (Jr"; c- Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $10,000.00, recorded in Official Records Book, 4552, Page 80, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. Agenda Item No. 1606 January 11, 2011 Page 8 of 27 Lender: Collier County Attest: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA, By: By: FRED W. COYLE, CHAIRMAN , Deputy Clerk Approved as to form and legal sufficiency: ..-/ ~~~~ Jennifer B. White Assistant County Attorney cy Krumbine, M A Director Housing, Human & Veteran Services IO-IMP-00085/2 Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $10,000.00, recorded in Official Records Book, 4552, Page 80, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. Agenda Item No. 1606 January 11, 2011 Page 9 of 27 Prepared by and return to: Priscilla Doria Housing, Human and Veteran Services 3339 E. Tamiami Trail, #211 Naples, FL 34112 MORTGAGE AND NOTE MODIFICATION AGREEMENT TffiS IS a Mortgage and Note Modification Agreement, made effective as of the 23rd day of November, 2010, by and between Mary C. McCoy, hereinafter called "Borrower" and the Collier County, hereinafter called "Lender." WITNESSETH: In consideration of the mutual covenants contained herein, the Borrower and the Lender agree that: 1. Promissory Note and Mortgage. Borrower has given to Lender, a promissory note and mortgage dated April 9, 2009 filed April 17, 2009 and recorded in O.R. Book 4444, Page 3161, in the Public Records of Collier County, Florida, collectively referred to hereinafter as the "Loan Documents" encumbering the following described real property (the "Property"): More particularly described as: Naples Bath & Tennis Club, Unit D, A condominium, 3~A, Public Records ofCoUier County, Florida. Folio # 60980320002 Borrower warrants that it is the present owner in fee simple of the Property. Lender warrants that it is the present owner and holder of said note and mortgage and that no judgment liens have been recorded on the Property subsequent to the Mortgage being recorded. Both parties warrant they have good right and authority to enter into the Mortgage and Note Modification Agreement. 2. Status of Payments. Presently no payments are required under the Loan Documents and the mortgage and promissory note are not in default. 3. Modification. In consideration of the mutual covenants herein and other good and valuable considerations, the parties agree that said promissory note and mortgage are modified as follows: (a) The principal balance of the promissory note is now $14.719.00, which shall be at the rate of zero percent per annum. (b) No Payments are required as long as the Borrower does not sell, refinance or lose the Homestead Exemption on the Property. Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $15,000.00, recorded in Official Records Book, 4444, Page 3161, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. Agenda Item No. 1606 January 11, 2011 Page 10 of 27 4. Other Terms. Notwithstanding anything to the contrary herein or in the Renewal Note or Mortgage, the lien and operation of the Mortgage shall continue in full force and effect except as modified by this Agreement. All other terms of said Loan Documents remain unchanged. 5. Compliance. The Borrower covenants and agrees to perform, comply with, and abide by each and every one of the provisions of the Loan Documents, as modified hereby. 6. Agreement Binding. This Agreement shall be binding upon and inure to the benefit of the heirs, legal representatives, and assigns of the Borrower and to the successors and assigns of the Lender. 7. The Borrower and Lender agree that this Agreement shall not constitute a notation of the Mortgage and Note and shall in no way adversely affect the lien priority of the Note and Mortgage nor shall be constructed to be a release in whole or in part of the Note and Mortgage, and that except as specifically modified herein, the Mortgage and note shall remain unchanged and will continue in full force and effect. In Witness Whereof, the parties have caused this Agreement to be executed as of the date first above written. Signed, sealed, and delivered in the presence of Borrower: ~c~~ tKf'.tbW\~ W ess Co Borrower: ~}A STATE OF FLORIDA COUNTY OF COLLIER THE FOREGOING instrument was acknowledged before me this ~ day of J, Ye.. tIot " .QV' , 2010, by Mary C. McCoy, who is ~ersonally kr19~0 me or who has produced as identification. --.--.-------. J. RAYBURN MY COMMISSION' 00 853511 EXPIRES: Jan~ry 22. 2013 IIoncIed Thru Notaty PuIIllC Underwtfters ~!i!:tl wi/-- ~=p J: ~ y4..,- t1 (SEAL) Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $15,000.00, recorded in Official Records Book, 4444, Page 3161, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. Agenda Item No. 1606 January 11, 2011 Page 11 of 27 Lender: Collier County Attest: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA, By: By: , Deputy Clerk FRED W. COYLE, CHAIRMAN Approved as to form and legal sufficiency: R~ / \ I \ Aarcy Krum ine, MPA J) Director Housing, Human & Veteran Services ~ i)'\0''-XL J enn r B. White Assistant County Attorney lO-IMP-00085/2 Documentary Stamp Tax and Intangible Tax were paid on the original Mortgage in the amount of $15,000.00, recorded in Official Records Book, 4444, Page 3161, Public Records of Collier County, Florida. This Mortgage and Note modification does not increase the amount of the mortgage. <:::.o~.,.. _~.-.r.ty COLLIER COUNTY HOUSING, HUMAN & VETERAN SERVICES 3301 E. Tamiami Trail, Bldg H # 211, Naples, FI 34112 Client Name: Juan & Evangelina Hernandez 714 New Market Rd Immokalee, FL 34142 File # 09-033R SHIP GRANT Fiscal Year 08-09 Job Description I General Contractor Amount interior doors 8 Labelle Homes $1,400.00 Interior paint Labelle Homes $3,000.00 flooring Labelle Homes $800.00 misc. repairs Labelle Homes $300.00 batM shower Labelle Homes $3,200.00 bath2 shower Labelle Homes $3,000.00 water closets 2 Labelle Homes $400.00 waterheater Labelle Homes $600.00 Pest Control Pest Bear $899.00 ~.. $13,599.00 Collier County Government Residential Rehabilitation Program Housing, Human and Veteran Services Department Phone: 239252- HOME (4663) www.colliergov.netlhousina Agenda Item No. 1606 January 11, 2011 Page 12 of 27 --- '~ INSTR 4393379 OR 4536 PG 1321 DWIGHT E. BROCK, COLLIER COUNTY DOC@.35 S105.00 REC S27.00 OBLO S30,000.00 OBLI SO.OO Agenda Item No. 1606 January 11, 2011 Page 13 of 27 RECORDED 2/9/2010 4:18 PM CLERK OF THE CIRCUIT COURT PAGES 3 FON< 0 SECOND MORTGAGE THIS SECONO MORTGAGE r'Security Instrumenr) is given on ~ay of r:; ),ru a '1 2010. The Second Mortgagor is: Juan K. Hernand.ez " Karia E. Hernandez, a ma=ied. Couple rBorrower"). This Security Instrument is given to Collier County ("lender"), which is organized and existing under the laws of the Unned States of America, and whose address is 3301 E. Tamiami Trial #211, Naples, Florida ~ Borrowerowes Lender the sum of Thirty Thousand. Dollars (U.S. S 30,000.00). This, debt is evidenced by Borrower's Note daled the same dale as this SeCUrity Instrument ("Second Mortgage"), whiCll provides lor monthly payments, with the full debt if not paid eartillr, due and payable on sale of property, refinance, or loss of homestead exemption. This SeCUrity Instrument secures 10 Lender. (a) the repayment of the debt evidenced by t'le Note, with interest and all renewals, extensions and modifications; (b) the payment of all olhersums, with inlllresl advanced under paragraph 710 proteClthe security of the Security Instrument and (c) Ihe performance of Borrower's covenants and agreements under this SeOJrity Instrumenl and the Note. For this pUlpose, Borrower does hereby second mortgage, grant and convey to Lender the fOllowing described property located in Co 11 i er County, Florida. _______ Mote particularly desc:ribed as: NEWMARKET SUBD, BLK 15, LOTS 11 & 12, PUBLIC RECORDS OF COWER COUNTY, FLORIDA. FOLIO 1# 63854840000 and whiCll has the address of ("Property Address"): 714 New Marketl1l:l-W-~_--.. (Streel) //' \f R CDil'''', J:mmakalee"'-':P'ki-~~/'V., ". (Clly) /~(ll~'" (ZIp) ......'--1'1>, TOGETHER WrTH all the improve")enlS.ll9"" or hereaflererected on the ~perlY..and all easements, rights, appurtenances, rents, royaflies, mineral, oil and gas rights and pro~l!S, ~~&Ad. stoel< and all flXlures'now m; hereafler 8 part of the property. The Security Instrument shall also cover all replacemenl$ end ,add . All Orth'e'foregOi~g is refehed lci~n this Security Instrument as the "Property". BORROWER COVENANTS that'Borryiwer Is lawfu _llDIZe1;l of the e$late he~y col1Veyed and has tha righllo mortgage, grant and convey the Property and thaI the PTO;krty is,.un~, ,re~O\!il.W~iijb'1,f'C!!S oll,record. Borrower warrants and will defend generally the liUe 10 the Property againsl 'II claims "nd I:lllm~nd~, S~~~)O an~enc;tFnbtan"'lS of record. THIS SECURITY INSTRUMENT co"1Q'"$ uni"'rm c:oYen.arps fRrn'atioriplllSe a~d noh-unaorm covenants oMlh limited variation by jurisdiction to constitute a uniform secunl)l, irfSWm~~e'L~;>f~. ".~! :: ! UNIFORM COVENANTS. BorrCl;\lef and Lender covenant and agree as rollows~~, / 1. PaymentofPrinc:ipal and In*_., ~frepaymentand Late Cl1iv.aes~ BO.t!' '~r:shall prompUy pay When due the pnncipal of and interest on the debt evidenood by the Note;:. \ "7i"r :' Ie / 2. Taxes. The Mortgagorwill pay all~;.assessments. sewer rents """""ter rates priorlo the a=ual of any penalties or interest thereon. \<' r.>', . /<<. ....~~ The Mortgagor shall payor cause 10 be pa]d,~'il:zeli.ilrne res~gj~)C~'eo1ml due, (A)(1) allwes and governmental charges of any kind whatsoever which may at any lime be lawfuH;: as,e1s.li9~jado asai1:sMir wit'l respect to t'le Property, (2) all utility and other Cllarges, including "service charges", incurred or imposeCNo~~-6pe);ati!!i_hlenance, use, ocoupancy, upkeep and Improvement of the Property, and (3) all assessments or other govemmental Clla,.ges'll1iil may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to payor cause 10 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 altJibulableto the Propertywhic.'l may altain priority over this Security Instrument. and leasehold paymenls or ground rents, if any. Borrower shall promptly fumish 10 lender all notices of amounts to be paid under U,is paragraph, and all receipts eVidencing the payments. Borrowershall prompUy discharge any iien which has priority overlhis SeCUrity Instrumenl unless Borrower. (a) agrees in writing to the payment of the obligation secured by the iie,~ in a manner acceptable to Lender, (b) contests in good faith Ihe lien by, ardefends against enforcement of the lien in. legal proceedings which in Ihe Lender's opinion operate 10 prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreemenl satisfactory to Lender subordinating the lien to this Security Instrument If Lender datermines that any part of Ihe Property is subjeCllo a lien. which may attain priority over the Security Instrument, lender may give Borrower a nolice identifying !he lien. Borrower shall salisfy the lien or take one or more of the aelions set forth above within 10 days of the giving of notice. 5. HllUrd or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on Ihe Property insured againslloss by fire, hazards included oMlhin 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 oplion, obtain coverage to protect Lendefs rights in the Property in a=rdance with paragraph 7. At all limes that Ihe Note is outstanding. the Mortgagor shall maintain insurance oMlh respect 10 the Premises against suc.~ risks and for such amounts as are customarily insured against and pay, as the sama become due and payable, all premiums in respeClthereto. including, but nOllimijed to. all. risk insurance proteclm9 the intereslS of the Mortgagor and Mortgagee againsl loss or damage to the Premises by fire, lightning, and other casualties customarily insured against (including boiler explosion. if appropriale), with a unffonn standard extended coverage endorsement including debris removal CQverage. Such insurance at all times to be in an amount not less than the full replacement cost of the Premises, exclusive of foolings and foundalions. All insurance pOlicies and renewals shall be acceptabie to Lender and shall include a standard mortgage clause. Lendershall have the right 10 hold the pOlicies and renewals. If Lender requ1res, Borrower shall prompUy give to Lender all receipts of paid premiums and renewal nolices. In !he evenl of loss. Borrower shall give prompl notice to Ihe insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower olherwise agree in writing. insurance proceeds shall be applied 10 restoration or repair of the Property damaged. if the resloration or repair is economically feasible and Lendefs security is not lessened. If the restoration or repair is not economically feasible or Lendefs security would be lessened. the insurance proceeds shall be applied to the sums secured by the Security Inst"Ument. whether or nol then due. with any excess paid 10 Borrower. If Borrower abandons the Property, or does not answer y.;thin 30 days a nolice from Lendertha: the insurance carrier has offered to sellle a claim, then Lender may colleClthe insurance proceeds. Lender may use the proceeds 10 repair or reslore the Property orlo pay sums secured bylhis SeOJrity Inslrument, whether or not then due. The 3Cl- day period will begin whetlthe notice is mailed. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall no: extend or postpone the due date of the monthly payments referred to in paragraph 1 or change the amounl of the payments, If under paragraph 21 the Property is acquired by lender. Borrowefs nghllo any insurance policies and proceeds resulting from damage to the Property prior 10 !he acquisition shall pass to Lender to Ihe extenl of the sums secured by this Security Instrumenlimmediately prior to Ihe acquisition. rt~,ed. Wi' 1 OR 4536 PG 1322 Agenda Item No. 1606 January 11, 2011 Page 14 of 27 roRX 0 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application, Leaseholds. Borrower shall occupy. establish, and use the Property as Borrowefs principal residence within sixty days after the execution of this Sec:urity Instrument and Shall continue 10 occupy the Property as Borrowefs principal residence for at least one year after the date of OCCUpancy, unless Lender otherwise agrees in writing. which consenl shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond BOrTCWefs control. Borrower shall not destroy damage or impair the Property. allows the Property 10 deteriorate, or commrt waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal. is begun that in Lendefs good faith judgment could resull In forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lendefs security interest Borrower may Cure such a default and reinstate, as proVided in paragraph 18, by causing the action or praceeding 10 be dismissed with a ruling that, in Lendefs good faith determination. precludes forferture of the Borrowefs interest in the Property or other material impairment of the lien created by this Security Instrument or Lendefs security inlerest Borrower shall also be in default if Borrower. during the loan application process, gave maleriallyfalse or inaccurate information or statements to Lender (or failed to provide Lenderwilh any material information) in connection with the loan evidenced by the Note, including. but not limited 10, represenlations concerning Borrowefs occupancy of the Property as a principal residence. If this Security Instrumenl is on leasehold, Borrower shall comply with all the provision of the lease, If Borrower acquires fee titie to the Property, the leasehold and the fee tiUe 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 proceed,ng that may significanUy affect Lendefs rights in the Property (such as a proceeding in bankruptcy. probate, for condemnation or forfelture or to enfo;ce laW$ Or regulations), then Lender may do and pay for whatever is necessary 10 protect the value of the Property and Lendefs rights in the Property. Lendefs 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 altemate ~~r approved by Lender. If substantially equivalent mortgage insurance coverage is not available. Borrower shall pa)'_icr~kaCltl.~tIi)'su.(l'l equal 10 one-twelfth of the yearly mortgage Insurance premium being paid by Borrower when the insuran.ll8' ;;o-.\r.as~~~ in effect. Lender will accept. use and retain these payments as a loss reserve in lieu of mortgage jl'l~~p.rrll;:ir.'L.oss reserve pay",e.!ltf lllay no longer be required. at the option of Lender, if mortgage insurance coverage (in the amount,an{f~"the period that Lender reqUiCll!iJ'pl>t!.vided by an insurer approved by Lender again becomes available and is obtained. Borrower'shal~~lHIll!'Iiums required to maintain mortgage insurance in effect. orro provide a loss reserve, until the requirement for mortgag,1nsur,anc:lj~n ao::crdaACOlJW(th any w'!!tten "greement between Borrower and Lender or applicable law. ! I \. J--\ \ \ \ 9. Inspection. Lender or its l\genl irJaY,Jtl~e~~~ ~,inspections of t~e Property. Lender shall give Borrower notice at the time of or prior to ar insi!Eiction ~,ec/tfin~ """"FilJi>le):~se~91 tI\e Inspection. 10. Condemnation. The prqceed~ o~ any .'1~ 9r 9l111m,'lfar'"dan,j;lgllS, direct br consequential. in connection with any condemnation or other taking of any part oll!'re ~aa.r;:b'{of'~!JlIe\:i.in::;:"in iieu~ c<iodeil1mltion. are hereoy assigned and shall be paid to Lender_ In the evenl of atotai taking of the l'J:Qj:Jilrty, Ilie proci*rdS shan1ie-~plied ~ the suiil$ ~eeured by this Security Instrument whether or not then due. with any excess paid to ~r. In the event of a partillJ.,1akinQ of \Ii(Brpperty. in which Ihe fair market value of the Property immediately before the taking is eq1,l~'-c" greater than the amo~EI'Su,n,n.e~red by this Security Instrument immediately before the laking. unless Borrower and Lender,e~!wise agree in writing, the $Um$~eCu~1ly thiS Security Instrument shall be reduced by the amount of the proceeds mUltiplied by the (C!lOWl~ction: (a) the tOlal am?U!;1I: o'Hlre sums secured immediately before the taking, divided by (b) the fair market value of the PropertYjlllll\~.!t before the "".J<inll,'.,~tb'alance shall be paid to Borrower. In the event of a partial taking of the Property In which the fair markel vll[!ie cif1l>..,,^1;'~~m~leIY before the laking is less than the amount of the sums secured immediately for the taking, unless Borrower andbin~...lltll8(Wise;:ag'felrin writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by thiS SecUn!y1nslrtli'!jent whet~er or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nol extend or postpone the due date of the monthly payments referred to in paragraphs 1 or c.~ange the amount of such payments. 11. Borrower Not Released, Forbearance By Lender Not a Waiver, Extension of the t,me for payment or modification of amortization of the sums secured by this Security Instrument granted by Lenderto any successor in interest of Borrowershali not operate to release L~e liability of the original Borrower or Borrowefs 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 onginal Borrower or Borrowe(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. Successo", and Assigns Bound; Joint and Severa' Liability; CooSigneMl, The covenan~ and agreements of this Security Instrumenl shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions of paragraph 17. Borrowe(s covenanls and agreements shall be joint and several. Any Borrower who co-signs this Security Instrumenl but does not execute the Note; (a) is oo-slgning this Security Instrument only to mortgage, grant and convey that Borrowers interest in the Property under the terms of thiS Security Instrument; (b) is not personally obligated 10 pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend. modify, foroear or make any accommodations with regard to the lerms of thiS Security Instrument orthe Note without that Borrowefs consent. 13. Loan Charges. If the loan secured by this Security Instrumentis subject 10 a law Which sets maximum loan charges. and that law is finally interpreted 60 that the interest or other loan charges collected orto be collected in connection with the loan ex<:eed the permitted limits, then: (al any such loan charge shall be reduced by the amount necessary 10 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 paymenl to Borrower. If a refund reducesprmcipal. the reduction will be trealed as a partial prepayment wit.~out any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this SeC'Jrity Instrument shall be given by delivering it or by ma~ing it by firsl 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. Govemlng law; Severability. Federal law and the law of the jurisdiction in .....hlch the Property is located shall govern this Security Instrument In the event that any provision or clause of this Secunty 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 wit~oullhe confiicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrowe(s Copy, Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property ora 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 nalural person) without Lende(s prior wrillen 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 jaw as of the date of this Security Instrument prohibits exercise. If Lender exercised this option. Lender shall give Borrower notice of acceleration. The notice shail 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 Instrumenl without further notice Or demand on Borrower. c:<"t:Ii',ed.wp 2 "... *** OR 4536 PG 1323 *** Agenda Item No. 1606 January 11, 2011 Page 15 of 27 1"01lX 0 18. Borrower's Right to Reinstate. If Borrower meels certain conditions, Borrower shall have the right to have enforcement of this Security Ins!nlment discontinued at any time prior to the earlier of: (a) 5 days (or such other period as appiicable 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 underlhis Security Instrument and the Note as it 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 allomeys fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lende~s rights in the Property and Borrowe~s obligation to pay the sums secured by this SeCUrity Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security InSlrumentand 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 NOle (together with this Security Instrument) may be sold one or more limes without prior notice to Borrower. A sale may resull 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. 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 quantllies of Hazal'llous Substances that ere generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall prompUy give Lender written noUce for any investigation. claim, demand, lawsuit or other action by any govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrowerleams, or is notified by any governmental or regulatory authority, that any removal or otherremechaUon of any Hazardous Substance affecting the Property is necessary, Borrower shall promptiy take all necessary remediai actions in accordance with Environmental Law. k; 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, toxicpesUcidesand herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. k; 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 Borrowe~s breach of any covenant or agreement in this Security Instrument (but not..ll~"ration under paragraph 1 7 unless applicable law provides otherwise), The noticeshallspeclfy; (a) the defaul:; (b)Jbe~~l/ireptppn..., !he defaull; (c) a dale, notlessthan 30 days from the date the notice is given to Borrower, by which the defaull~t llF~~a(fai)ijre,,to cure the default on or before the date specified in the notice may result in acceleration of the sum~4..~~bYthis Security In~tT}.1~recJosure by judicial proceeding and sale of the Property. The notice shall further inform Bo~.c11he right to reinstate aftefllpce1etll1ion and the right to assert in the foreclosure preceding the non1xistence of a default or ai)f othW~.aa of Borrower 10 acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lenl~er, aMts l;lP~~, ~.iQ:ln/ediate pl!ymer,t in full of all sums secured by this Security Insll"~ment without further demand and ma(foreclose ffUs S"eeurityJM,!nIment ~y judicial'l'roceeding. Lander shall be entitled to collect all expenses incurred in pursuing the remedieF proll!cjadjo,~is~p~~~ ~t Iirriiled to, reasonable attorney's fees and costs of the tUe evidence. ! {/ ( \j( r \ "4 II) ) \ ~I \ \ 22. Release. Upon payment of *lIsul!\s s!,cur~~ b~thi; SEI ri~~n ~~rs~all release this Security Inslnlmenl, without charge, to Borrower. Borrower shall pay a"rre~rdal!O!VCQS1Sj j _ 1'. j ~ ::-! 23. Attomsys' Fees. k; used in\~S,ecil1'ltY InstTU!lT!!Flt arfCl1l;I(~ole. "3llo-m~s" shall inClude any attomeys' fees awarded by an appella!e court \ '~'-: \ '(", ) / "'.i! 24, Riders to this Security Insl1Ul1'$Ay,-,f one.or more riders a~rd t;lY ,~.ower and recorded together with this Security Instrument, t~e covenants and agreements of <la~!'U.ch'''der shall be Incorporahlli)nto~~all amend and supplement the covenants and ~reements of this Security Inslnlment as if the'~~~~j~:;';' part of this /~~~ent (C;;':'ck Applicable Box) L...J Adjustable Rate Rider ,....:' 1o-{::~~1CmerIJ.Rider L...J Condominium Rider n ''''.r:5'l t:: C~ t\'....>;,,/ n LJ Graduated Payment Rider U-'""1-4-FemilY'Rider LJ Second Home Rider ,...., r-,,...., LJ Balloon Rider LJ Brweekly Payment Rider LJ Planned Unit Developme~t Rider " LJ Other(s) (specify SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in t~is Security Instrument and in any nder(s) executed by Borrower and r eorded v.;th it. Signed, sealed and delive~ i~ the ,presen::e Of!\ Witness Signature: U- Witness Print Name: Dr; 0:;('; //0.. .DOOc- Signature: Borrower Signature: Borrower W.1ness Signature: Witness Print Name: Address: STATE OF FLORIDA COUNTY OF COLLIER 714 New Market Rd W Immoka1ee. FL 34142 I hereby ce<tify that on this day, before me, an officer duly authorized in the state aforesaid and in the county aforesaid to take aeknOwiedgements, personally appeared Juan M. Hernandez Ii: Maria Ii:. Hernandez: to me known to be the person(s) described in and who executed the foregoing inslr'~ment and acknowledged before me lhat HE! SHE! THEY executed the same for the purpose therein expressed. (Seal) Notary r'I~lic's ~ignature/) . 'H 1St', / It:. tlrr.c" r........P.R.IScii.LA.DORiA.u..I~t:ry's Plinted Name ~ ~~~~I:t~.. Comm# 000891636 E ~ (~ ExplresS/20J2013 i : ""~'Ii'l' F10rtda NCUry Assr... Ine : .........u..............................".... ,2010. WITNESS my hand and official seal in the County and S' My Commission Expires: crtoJ'~ecL ....1' 3 PROMISSORY NOTE Date: k brur//1 ~ dD J D Borrower: Juan M. Hernandez 714 New Market Rd W Property Address) & Maria E. Hernandez Inunoklaee (City) Florida (State) 34142 (Zip) 1_ BORROWER (S) PROMISE TO PAY: IjWe promise to pay THIRTY THOUSAND DOLLARS ($30,000.00) (this amount will be called "principal") to the order of Collier County or to any other helder of this Note (the "Lender"), whose address is 3301 E. Tamiami Trail, Naples, Florida 34112. I/We Q~derst~~d 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 w:..ll be :::alled t.he IlNote Holder". 2. INTEREST: Interest on this Note shall be zero percent (0%) per annum; except that if I!We fail to pay this Note as re~uired, the interest rate shall be twelve percent (12%) per annum from the date when payment of this Note is due until I/We pay it in full. 3. PAYMENTS: Principal payments shall be deferred until transfer of title, sale of property, refinance, or loss of homestead ~xemption, or until fifteen years from the original mortgage date, whichever happens first. The recapture clause is as follows: ~a2's 1 through 1,825, 100* of the principal amOQ~t is due, days 1,826 through 3,650, 66.7% of the principal amcunt is due, days 3,651 through 5,475, 33.4% of the principal amount is due and day 5,476 and after 0% of the principal amount will be due. These amounts t>,1ill not be pro- rated on a per diem basis. My/Our t.otal paymen-: shall be r;. s. $30,000.00. 4. BORROWER'S RIGHT TO PREPAY: l/We have the ::eight to make payme:1ts of principal at any t:.me before they are due.. A payment of principal only is kno'V.'l1 as a Hprepayment'l. When IFwe make a prepa)~ent, I/we will tell the Note Holder in writing ,:hat l/we am doing so. :/We may make a full prepayrrlent or partial prepayment charge. The Note Holder will use all of my prepayments to r-educe the amount of the principal that I owe u:1der- this ~ote. If I/We make a partial prepayrr\e~t, there will be no clliL~ges in the due date or in the amOQ~t of my monthly payment unless the Note Holder agrees in w!"i::i::1g to those changes. If :/We make a par~ial prepa.llme~t., the:-e wi:'l be no prepal'''ment per:a.l ty adhering to or assoc:.a=ed ~ith such prepayment 5. LOAN CHARGES: !f a law, wh~ct app~ies to ':his loan ~~j w~ich sets ~aximum loan charges, is finally inte=preted so that the inte~est or other loan ctarges collecred or tc be colle2ted in cor..nectior: with ::his loa:l exceed the pe::mitted limits; then (i) an')' such lc-an 2harges shall be reduced by the amS)unt necessary to red'-~ce the charges to the p~:!:"rr.i::":.ed :'irr~i t. j 2..:1C ':ii) any sums alreaay collec':ed from me which exceeded perrr.it::ed limits \o,,1ill be refU:lded to tT;e!us, The Not.e Holder may cr~:Jose -:0 rrLay~e t:lis ref'.lnd by reduci.ng the principe-I :..hat, T /hi'? -.. ~ '.1n::lc:- '::l:is NC":e or by makin:.:! a :iirect payment to me/'.ls" :f a refu..-:d redu-:::~es pr:nclpal., t.he reduC':.iO:"l w:ll be 'Created as a par:.ial prepa:vment, SUBORDINATION: ~ender i:.~d .:13rrOv.ter ackne.;v,'ledge arId agreE:: t.l".iat this S'?c'..:ri~y I~...s"C::'i...:l.1en't. i.s subjeC't. and subor:::inate in all respects to :::'~le liens, terrns/ covenants a.nd ::cndit.:..ons of ~;~~~~~~:;~:jr~::~~:~~:~~~ i.~: :i:u{{:~~~r~~!~~:~~~:~~:~j~;,~~~~~~~ ~~:~;~:et:;~:~::.~~(:~! ~~~~~w~:e,:~r- T.;~~s~"j::t(~;e~~jo~:t;~~:~Cl~~ ;~~o~:~:.~~~e~e~~G,'~~ ,eyt:r~~tsl~~;::,rrr;r~:'~r i;g t~~ :;;j!,:~~grc~:~ei:;,OP=~~Y ~ he~'Es~r~:;:e~~d a~;'\~i:~;~O;,s t ~;m~h:c,~i rr~,r~,_;t:;o~; ~:~:~f "7", p~~:.;~~~~ ':rle.rel.\~i ~h. In the. eve.nt of a fareclos""..l:.:.:-e c,r deed i!1 J.ie~ c,f f()Yeclo~u::-e 2f -:l:e Fi:'st Deed ~~s;-rri~:;i'jgar~e ?~~~:'~C)i.t~hehe::c;~r~~ ~:y l;:c:;s~,~'~:r~~e Cl~~cC~~h~~JL~~~~~~:r~; ~~~:~:~~~ ~~~~~~C~~jn9S~;~:~~~c~:~~srsa~~; i~~:_~~"s::~sl ot;etr~ero~:~~:r:~:c.:l ;;';VC' '-'0 fur~~:~~ u~~~~e h~~ F'.lCCeSSors or 2.seiS""TlS (O'.:h'2'T 't.':-..a:: tbe Borro'vler or a l-e:.2.a'.::ed ~e'.:ej.vin9 ti'::J e to ::h.e P~'()pe~-t.y -::=-JI'o'..lgh a r;:::-:.:.:ccl;:;;su::-e o:r dl:?ed ir.:. lieu cf f::):;eclc;sul-e of -:.::':: ?i::-s': Deed :;: '""':,:-us: s~lal:" .:-ece.i\,"e t..lt~e !"n the P::'c:)e~:::.v free anj, ::lE2:::" from c,,~~ reE'tric't_O::-lE. ~~:~b~~, f~~e~~~s~~:~c~h~i~~'e~"~~e~!::~Cf~~~~:j ~~ t;~2~~_U~~~t ?~~,~~~t~~~.~~~~~~~:~~ ~e~~,~~a~: ~~~~n t~;~j ~~~~O~o~~~~ ~~"~e~~~a~~~U~~;;;O~b~f F ~~~;e :'e~~o~~";~1;~~a~r'~ i)( i.;'~'e t~:::~:~d~;S s;~:~~ not na'.re cured t:!:e defat.:lt lli"1dEJ: :.he F'i~:'s'C Deed of TrUE'.:: wi~hin ::.be 3C-day per:..od pr~:YV1:l':::C _n s~ch no~ice se~t co tne Lende~. BORROh'ER (S) FAILURE TO Pl'_Y AS REQUESTED: tAl :>:;;fault If I,'v.'e do .;:nQt. ~~fY _.t~e ~1:~,:...1 ~mo_lL-:t~., _~.s~_r_~q-~.':r..~~..~~~ sec_.ti_cr~. 3 _ db. ov_e~ _-:-."/we ~i~l be_ i~. :~fa~.llt, If - am ..Ln d:;;;;._aul~, Cl1t;: ;~~o,-e .'1:..;_Q~L ,:lei}. r...lI..g <.:.<.buU!:. a.ny o.:..:t....ons ~:Oi: ploh.::.."c.~Led b},' la'vV' a.rid recruire me/us to pay t.he Note Holde.rls C'C'Si: and e.xpe::ses as des:::y:..bed in below. Agenda Item No. 1606 January 11, 2011 Page 16 of 27 (B) Payment of Note Holderls 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, =easonable attorneys' fees. 8. GIVING OF NOTICES: Unless applicable law required a different method, any notice that must be given to me/us lli"1der the Note will be given by delivering it or by mailing it by first class mail to me at the Property Address on Page 1 or at a different address if I/we give the Note Holder a notice of my/our different address. lL"1Y notice that must be gi'Ten to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) or at a different address if I/we have been given a notice of that different address. 9_ OBLIGATIONS OF PERSONS UNDER THIS NOTE: If more than one person signs this Note, each person is fUlly and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amo~t owed. lL"1Y person who is a ~~arantor, surety or endorser of this No::e .is also obligated to do these things. A..JY person. ",.!ho takes over these obligations, includiTJg the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in thi.s Note. The Note Holder may enforce its rights under this Note against each person individually ~r against all of us together. Tl"'_is means that anyone or us may be required ':0 pay all ':if ::he amotL"1ts owed -~'1de=- this Not.€. 10. WAIVERS: I and any other person who has obligations under this Note waive the rights of presentment and. notice of dishonor. rl Presentment II means t.he right to require the Note Holder to demand payment of amounts due. "Net ice of Dishonor" mear:s tJ::e right to require the Note Holder to give not.ice to ot~er persons that amounts due have not been paid. 11. mrIFOP.M SECURED NOTE: This Note is a ll..."1iform ins':r'...1ment with limited varia':io~s in some jurisdictions. In additior, to the >:rotection 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 t.he Note Holder from possible losses v:hich might, result if I/we do not keep the promises which I/we make in this Note. ':'hat Securi.t.y Instrument describes how and undEr what conditions :/we may be reqJired to make immediate pa}~ent in full of all amounts I/we owe under ~his Note. Some of those ~onditions are described as follows: Tr'ansfer of the ?roper::y or a Beneficial Interest in Borrower. If all or any part of the property or any interest in it is seld or transferred {or if a beneficial inte~est :n Borrower is sold cr tra..nsfl::.rred And Borrow'er is not a natural persor:) wi thout Lender 1 s prior \':ritte.n cense.nt, Lender may, at its option. require immediate payment in full or a.l1 sums secured by this Security Instrument. However, Le~der shall not exercise this option if federal law as of t2e date of this Security Instrument prohib~t:s exercise. T~ Lender exercises this option. Lender shall give Borr8wer no~ice of acceleration. The ~otice shall provide a perioj of DOL less than thirty (10) =3YS :~D~ th~ d~te ~h; DGt~Ct is ~~~i~:~~~ .oi:~~:=~~~~w~~1;:~~:~1:~i ;~~:~E~~~;~~?~~e~~~~~: ;~n~~-~:rr~:}~~~:ltl:o~_:~~:~:~~~~~;: cr dem~"1.d or: E.or:..-::-w'2!'. ~~~:~~~:~a~~~21 ~~:: ~~~:~tt:~)~e~'~~~~i~; ~::::ot Ot~:l ~~~~t:r:~ /~~~: ~~~i;~s~::r~ceE~{~~:e;~ collect ane. app::'y s'J.ch p:::..oc.:~;eds in c::corda::ce with thE:' First: Deed cf Trus':. 12. ~his note is governed and construed in accordance with the Laws of the State of Florida. WITNESS THE !iA1.'D (S) AIID SEAL (S) OF THE UNDERSIGNED. --__cJ,-- j,\....jJ.Jl~~ ~_ _______ ,Sc.al..'. Borrswer f Juan M. Hern~ ~ - c t\ ( -~~_~=--\~.~Z 'Vr.,c.!;....-:>." (~_--''''~O ~_ S2~rower Maria E. Eernandez,~ RETURN TO: Celli>.:::- COL:.:~t:;.' HC1.::sir:; &: }-hlITi&n Se2:""ViC2S 3301 E. ~arriami Trail Bldg ~ #2:1 Na.ples,.::'L 34:'..J..2 Attn: ?rank Ramsey Phone: L:::39) 252--5312 ?ax: (239)2S2-6S42 Agenda Item No. 1606 January 11, 2011 Page 17 of 27 Details Agenda It~);,jOf J..Q{46 Janua'tf1 f, '20t1 Page 18 of 27 lnrrl..~:ll-!l Property Record ,,,.. Aerial Sketches Trim Notices I _. ..~Etio =:BI ~ Parcel No.1163854840000 Current Ownership Property Addressl1714 NEWMARKET RD W Add Statell FL Zipl 34142.3052 Legalll NEWMARKET SUBD BLK 15 LOTS 11 I & 12 .,::'.-, Section 33 Township 46 Range 29 Acres 0,6 Map No. 1E33 Strap No. 52030015111E33 Sub No. < Use Code 520300 II NEWMARKET SUBD II SINGLE FAMILY RESIDENTiAL II':' Millaae Areal School II 5 I 5.239 'See Instructions for Calculations 2010 Final Tax Roll (Subject to Change) Latest Sales History If all Values shown below eClU<H 0 this parcef 'was created aftar the Finai 'rax F~oO Land Value $ 13.125.00 (+) Improved Value $123,172.00 (=) Market Value S 136,297.00 i -'~ SOH Exempt Vaiue g. Qttle~- ExernntH::ns I $ 0.00 I I (=) Assessed Value II $ 136,297,00 I I H Homestead ana othe" E~:empt Value II $ 50.000.00 I I i=) Taxable Value II $ 86,297.00 I (=) School Taxable Value {Used for Senee! Taxes} Is 111.297.00 I SOH = "Save Our Homes" exempt value due to cap on assessment Increases. S:;OK ~- F"a98 1334 . 2214 Amount I s: ?o non nn I , -.-_.._- I !..,~.........~... " , , 0'.. . :'~". 1>-" " The Information IS Updated Weekly. http://v,'Vo.'W.collierappraiser .com/RecordDetail.asp ?Map=&F 0 lio ID=0000063 854840000 11/3/2010 eo1N::.-. <::::.oun.ty ""- ~ COLLIER COUNTY HOUSING & HUMAN SERVICES 3339 E. Tamiami Trail, # 211, Naples, FI 34112 Client Name: Pedro & Danay Rodriguez 2260 Everglades Blvd Naples, FL 34120 File #ER08-09-001 IJob Description SHIP I General Contractor Amount Water System Replace Well pump repair Pro Water Sys Pro Water Sys $1,925.00 $767.00 I Total $2,692.00 Collier County Government Housing and Human Services Department Phone: 239 252- HOME (4663) Phone: 239-252-5312 E-Fax: 239 -252-6518 priscilladoria(a)collierqov. net Agenda Item No. 1606 January 11, 2011 Page 19 of 27 INSTR 4412602 OR 4552 PG 80 RECORDED 4/1/2010 3:24 PM PAGES 3 DWIGHT E. BROCK, COLLIER COUNTY CLERK OF THE CIRCUIT COURT Doc@.35 $35.00 REC $27.00 OBLD $10,000.00 OBLI $0.00 Agenda Item No. 1606 January 11, 2011 Page 20 of 27 . . FORM 0 SECOND MORTGAGE THIS SECOND MORTGAGE ("Security Instrumen!") is given on 25"' day of March, 2010. The Second Mortgagor is: Pedro A. Rodriguez and Danay Rodriguez, a married couple ("Borrower"). This Security Instrument is given to Collier County ("Lende"), which is organized and existing under the laws of the United States of America, and whose address is 3 3 01 E. Tamiami Trial #211, Naples, Florida 34112. Borrower owes Lender the sum of Ten Thousand Dollars (U.S. $ 10.000.00). This, debt is evidenced by Borrowe(s Note dated the same date as this Security Instrument ("Second Mortgage"), which provides for monthly payments, with the full debt, if not paid eartier, due and payable on sale of property, refinance. or loss of homestead exemption. This Security Instrument secures to Lender. (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications; (b) the payment of all other sums, with interest advanced under paragraph 7 to protect the security of the Security Instrument; and (c) the performance of Borrowe(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. More particularly described as: The South 75 FT of Tract 12, Golden Gate Estates, Unit 71, according to the map or plat thereof as recorded in Plat Book 5, Page 7, of the Public Records of Collier County, Florida. FOUO 1# 40351120000 and which has the address of ("Property Address"); 2260 Everglades Blvd N (Street) _.-:--... Naples. FloriCla;:::u 12 O(} (j'-:-~ (City) ,.ISw,te)>-> ~..-~--... .IV"........ TOGETHER WITH all the improvemepts qOW>~liereafler erected oil1lle:Pro~, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits: Wat~i-fjghts and stock and all flXtUl'eSno\\t,or hereafter a part of the property. The Security Instrument shall also cover all replacemen~'l,"d ~diliollS_AU of the foregoing is referred.to in this Security Instrument as the "Property". BORROWER COVENANTS that'Sorrll'oYer'1iJ.awfully'selZe!toHtieestate h~eby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumber~~eJ<<:ePt for epcumbrances 6,f record. Borrower warrants and will defend generally the title to the Property against all c1ai~l:l~1i~""Sojl1~lO"'W'll)'1c!iijnt>ranOFs of record. THIS SECURITY I NSTRUMENjT co'1\f>..5in~s uWifO. rril c:c\venafltsif9r ~tiona\is'e and n.<)n-uniform covenants with limited variation by jurisdiction to constitute a uniform securi'}' instnJm~nt ~"rg reayPfoJi'!!r1Y, \\ r !, I UNIFORM COVENANTS. Bo~r\atld~_nller.~nanUln~gree ~~0YfS:-; I 1. Payment <)f Principal and I~~$~; Prepayment and Late'(:,hargeli, BO'fO:?e~,.shall promptly pay when due the principal of and interest on the debt evidenced by the ~l)le, \ ~Ikl / ....) / 2. Taxes. The Mortgagor will pay'~s, assessments, sewerrems orlWate(tates prior to the accrual of any penalties or interest thereon. \'.,.(-"-........" '....)/ (7/ The Mortgagor shall payor cause to m:'P'Iid,"8$ the same respectivelybellQme~ue. (A)(1) all taxes and govemmental charges of any kind whatsoever which may at any time be llr.Vtulltll~es~ed or lev!!>.d.asliin$tQrWith respect to the Property, (2) all utility and other charges, including "service charges", incurred or impos'1djO~!!lJt\~1io,~ li:.ai~tenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other govemmentaJ-.d1!rges 'thai tnay-hlwfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to payor cause10bepald 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 fumish to Lender all notices of amounts to be paid under this paragraph, and all receipts evidencing the payments. Borrower shall promptly discharge any iien 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 iien 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 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 Properly 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 Lende(s approval, which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lende(s option. obtain coverage to protect Lende(s rights in the Property in accordance with paragraph 7. At all times that the Note is outstanding, the Mortgagorshall 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 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 olloss 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 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 Ihe 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 10 settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30- day period will begin when the notice is mailed. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due 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, Borrowe(s right to any insurance pOlicies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lenderto the extent of the sums secured by this Security Instrument immediately prior to the acquisition. ....t>p~ed. wp 1 OR 4552 PG 81 Agenda Item No. 1606 January 11, 2011 Page 21 of 27 . . FORM 0 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application, Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Bo~ower shall not destroy damage or impair the Property, allows 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 detennination, precludes forfeiture ofthe 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 defau~ 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 conceming Borrower's occupancy of the Property as a principal residence. II this Security Instrument is on leasehold, Borrower shall complywith 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'. Rights In the Property. II 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 orto 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, appea ring in court, 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 become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other tenns of payment, these amounts shall baar 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. II, 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 L~~th a sum equal to one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance ~...g:e~! IjiP.I'p.ss~~.lF~~!O be in effect. Lenderwill accept, use and retain these payments as a loss reserve in lieu of mortgage ins)ll'8pc\.A;~sIHe~~~.~t$"ll1ay no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount aJ;l4:fi)~riod that lendeheq,u;TeJ}provided by an insurer approved by lender again becomes available and Is obtained. Borrower~aj[p){the premiums required to ina/111aifunortgage insurance in effect, orto provide a loss reserve, unlilthe requirement for mortgage insuza .t:.accordance with anywritten, agreement between Borrower and Lender or applicable law. / \ 9. Inspection. Lender or its agent, ay make ", s~ upon ~ inspections of the Property. Lender shall give Borrower notice at the time of or prior to ar ins~e~e.cl~'le:mm!l!"e. ~ llIrithe in~pection. 10. Condemnation. The PrQceecil( of!any.'tlwlfrd 'pr 'elairTl~or ~ap1a!!,,{S: ~irect\or consequential, in connection with any condemnation or other taking of any part 9' the ~ro;krty, ~rfO[ cOnvl/y~lnliir(liell:9f c>>nderlna~on, are hereby assigned and shall be paid to Lender. In the event of a total taking of the,fi'1'o#t!Y,~$~~Syh311 b~ppliecWo the SUIITS secured by this Security Instrument, whether or not then due. with any excess paid to Elorrowei:",n the eYerii of a pa"*!al tak1iigOf tl1~Qperty. in which the fair market value of the Property immediately before the taking is e\ii.tal\.. to 0, r greater than the amo~\Q.f the. jsurm,s~red by this Security Instrument immediately before the taking, unless Borrower and Lender:.otpe.rwise agree in writing, ~!f"s.'se.otJ~,by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the'{Ojkl\'lil)g fraction: (a) the total ari'lOjl"fq,lnlt'sums secured immediately before the taking, divided by (b) the fair market value of the PropeqY i~iately before the taking,...~ balance shall be paid to Borrower. In the event of a partial ta~ing of the Property in which the fair marke.!~!..e~roperty 1-1TJm.e.ai,~lt,~fore the taking i~ less than the am~unt of the sums secured Immediately forthe taking, unless Borrower and L~.eJ ~tll~\.;.J.I_lrng or unless applicable law othelWlse prOVIdes. the proceeds shall be applied to the sums secured by this'Sel:tJl1ty,lnSll:lJmet.!l;whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of procee~l'ii1cipal 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 Securily 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 orrefuse 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; Jointand Several Uability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. subject to the Provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant and convey that 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 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 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. II 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 ~ 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 oflhe jurisdiction in which the Property is localed 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 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 itis sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a nalural 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, Lendershall not exercise this option if federal law as of the date of this Security Instrument prohibits exercise, 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. II 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. II Borrower meets certain conditions, Borrower shall have the right to have enforcement of 2 ~~l:lpJed. wp *** OR 4552 PG 82 *** Agenda Item No. 1606 January 11, 2011 Page 22 of 27 . . PORM 0 this Securtty Instrument discontinued at any time prtor to the earlier of : (a) 5 days (or such other pertod as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Securtty Instrument; or (b) entry of a judgment enforcing this Securtly 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 Securtly Instrument, inciuding, but not limited to, reasonable attomey's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Securtly Instrument Lende~s rights in the Property and Borrowe(s obligation to pay the sums secured by this Securtty Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effec:tive as ~ no acceleration had oc:c:urred. 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 (logetherwilh this Security Instrument) may be sold one or more times without prtor 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 Securtty Instrument There also may be one or more changes ofthe Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrowerwill be given written notice of the change in ac:c:ordance 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. 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 approprtate to normal residential uses and to maintenance of the Property. Borrower shall prompUy give Lender written notice for any investigation, claim, demand, lawsun or other action by any govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has ac:tual knowledge. If Borrower leams, or is notified by any govemmental or regulatory authority, that any removal or olherremediation of any Hazardous Substance affec:ting the Property is necessary, Borrower shall promptly take all necessary remedial actions in ac:c:ordance 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 matertals. As used in this paragraph 20. "Environmental Law" means federal laws and laws of the jurisdic:tion where the Property is located that relate to heanh, safety or environmental protec:tion. 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrowe(s breach of any covenant or agreement in this Security Instrument (but not prtor to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the defaun; (b) the a9i_Qll.teqlliI:e.co cure the defaun: (cl a date, not less than 30 days from the date the notice is given to Borrower, by which the default mus~'Pi, ar(flld)~llure to cure the default on or before the date specified in the notice may result in acceleration of the sums seeU.:re~I1;"~~6str:i{ry;~~ foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrow(r~ lljJHightto reinstate D~r_~c:c:el.\'ration and the rtght to assert in the foreclosure preceding the non-existence of a default or anYAhel'<Ielense of Borrower to a~lel1ltiort"nd forec:losure. If the default is not cured on or before the date specified in the notice, Lender, alits' ~tion, may require immediaie,~a~nt in full of all sums secured by this Security Instrument withoutlurther demand and may.forecl,Dse'1~is ~ecuiily..lnattum~",by judic.a,1 pro~eding. Lender shall be entiUed to collec:t all expenses incurred in pursuing the remedie$'provjded ili1fiis I'l!rag(aptl21, including, but.l'lotlimited to, reasonable attomey's lees and costs of the title evidence. I f ~ /~, ~,h v\ \ 22. Release. Upon payment 01 all sUF s~cutl!al b~ thr' ~cufity')nstnlmen1.'Lendersi1all release this Security Instrument without charge, to Borrower, Borrower shall pay ~ny r!#ordation fOsls. ) I r ~ ( I. I 23. Attorneys' Fees. As used i~ 1"ris ~cUtiJyJh~,nJ.a'!.~ t~ Note,.).llClme~es" shall inc:lude any attomeys' fees awarded by an appellate court. \.;.,.;. \.~ --- '----\", T /.C::: I 24. Riders to this Security InstrUmenL II one or more riders are:,xecuted by'BorroWer and recorded together with this Security Instrument, the covenants and agreements 6{~'!Shsuch rider shall be incorp?,~d jh!oand:s!:tall amend and supplement the covenants and agreements of this Security Instrument as if th.e iidet(sl were a part of this SE!comy Instrilment. (Check Applicable Box) " \:'~- '...... " /:.0 '-/ " LJ Adjustable Rate Rider '-'.. C:;>\7 Rate Improj'!!lT1efll Rider LJ Condominium Rider o Graduated Payment Rider ';~~~&~>/ 0 Second Home Rider ,,--- LJ Biweekly Payment Rider o Balloon Rider " LJ Planned Unit Development Rider " LJ Other{s) (specify SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Securtty Instrument and in any rtder(s) executed by Borrower an ecorded with it Signed, sealed and deli ere !n th~ presence;at\ Witness Signature: -L- Witness prtnt Name: _~i (f " J I~ llii c:.- Signature: Borrower Signature: Borrower ?~ ~\~~n.~~Jec. :~~~~fiV;J . 2260 Everglades Blvd N Naples. F~ 34120 Witness Signature: Witness Print Name: Address: STATE OF FLORIDA COUNTY OF COLLIER I hereby certify that on this day, belore me. an officer duly authortzed in the state aforesaid and in the county aforesaid to take acknowiedgements, personally appeared Pedro A. Rodriguez and Danay Rodriguez to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before me that HE! SHE!~ecuted the same for the purpose therein expressed. olary 7/Ub.'. Signature (Seal) . 'II r ISCllft:.. :..._.....pprsclt.rA'ooRiA..........rotary.s Printed Name i "'.., Comm# 000891636 i ~ Ex;>lres 512012013 ~ i ~. ..'.t: :lotary Assn..lnc : :...........". "~' "..... \I~t~...,.............. .2010. WITNESS my hand and official seal in the County and My Commission Expires: 3 ectopJed.....'P Agenda Item No. 1606 January 11, 2011 Page 23 of 27 <:::.o~..,.... c:::.cn..... "J-'I:.-a:-::'y ---- --.. COLLIER COUNTY HOUSING, HUMAN & VETERAN SERVICES 3301 E. Tamiami Trail, Bldg H # 211, Naples, FI 34112 Client Name: Mary McCoy 103A Bobolink Way Naples, FL 34105 File # 09-030R SHIP GRANT Job Description General Contractor Amount refrigerator A. Martinez Const. $1,639.00 dishwasher A. Martinez Const. $600.00 tile flooring A. Martinez Const. $9,810.00 bath vanity etc. A. Martinez Const. $255.00 toilet (2) A. Martinez Const. $740.00 Replace rotted water main/valve A. Martinez Const. $295.00 Kitchen electrical to code A. Martinez Const. $825.00 Remove old floor paint A. Martinez Const. $375.00 1 lock set and bath light fixtures A. Martinez Const. $180.00 Total $14,719.00 Collier County Government Residential Rehabilitation Program Housing, Human and Veteran Services Department Phone: 239 252- HOME (4663) v>"\NW, collieraov. netlhousinq Agenda Item No. 1606 January 11, 2011 Page 24 of 27 Retn: HOUSING i HUMAN SVCS ImR OllIe! PRISCILLA DORIA 252-5312 4,84380 OR: 4444 PG: 3161 mORDID in the omCIAL mORDS of COLLIIR COUJITY. n 04117/2009 at 10:06AM DWIGHT B. BROCl. CLm on,gendqsij'UO!Db No. 1606 om Jcm~rr 11, 2011 DC lIB fffloe 25 of 27 DOC-.35 52.50 PORK 0 SECOND MORTGAGE THIS SECOND MORTGAGE ("Security Instrument") is given on this April 9. 2009 The Second Mortgagor is: Mary C. McCoy, a single woman ("Borrower"). This Security Instrument is given to Collier County ("Lenden, which is organized and existing under the laws of the United States of America, and whose address is 3301 E. Tamiami Trial #211, Naples, Florida 34112. Borrower owes Lender the sum of Fifteen Thousand Dollars(U.S.$ 15,000.00). This, debt is evidenc:edby Borrowe~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 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 Borrowe~s covenants and agreements under this Security Instrument and the Note. For this purpose. Borrower does hereby second mortgage, grantand convey to Lender the following described property located in Collier County, Florida. More particularly described 88: NAPLES BATH & TENNIS CLUB, UNIT D, A CONDOMINIUM, 3-A, PUBLIC RECORDS OF COLUER COUNTY, FLORIDA. FOLIO # 60980320002 and which has the address of ("Property Address"): 103A BoboliDlt Way (Street) Naples, Florida 34105 (City) (State) (Zip) TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rigllls, 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 additio~9~1l. is referred to in this Security Instrument as the "Property". BORROWER COVENANTS that Borrower)81~iW'~ecL~festate,herebY conveyed and has the rightto mortgage, grant and convey the Property and that the Property is une~",bered:excefit.-roq;~Ii~r~nces of record. Borrower warrants and will defend generally the title to the Property against all cla!r1]s luil;J.demands, subject to a-ny,6'njiYinbrances of record. THIS SECURITY INSTRUMENT combflle$'\Jniform covenants for nationlll.jJse 8nP non-uniform covenants with limited variation by Jurisdiction to constitute a uniform security i':l~tru"e~g..real propert,t, \ \ UNIFORM COVENANTS. BorroWer alld Le~venant aiihgree as follbws: \ 1. Payment of Principal and In.erest;~. mentBnll'hBte. Cha~, BO. rr.o. werlShall promptly pay when due the principal of and interest on the debt evidenced by the/Not, V- t\ I /"?\\ j,- 1"\ "'\ ~ '57\ \ thereon. 2. Taxes. The Mortgagor will pr all i ret' a:~essrejts~lIts ~ 1ter i~s ror to the accrual of any penalties or interest The Mortgagor she!! pey or cause'Io)!:ie'p;1lJ;!;-.:ls ~~e r~ivelY ~r;;e ~iI~'(AH 1) aU taxes and govemmeniai charges of any kind whatsoever which may at any time1le ~awfully assessed or levied,againsi or wittrrespect to the Property, (2) all utility and other charges, including "service charges", incu~r'.impoSed for the operation,'~intehan~;~", occupancy, upkeep and improvement of the Property, and (3) all assessments or other~mmental charges that rri~'13wt;./JIIY-~Pi'id in installments over a period of years. the Mortgagor shall be obligated under the Mortg~e.fg~y or cause to be paid only'5u,cH in~l<!llments as are required to be paid during the term of the Mortgage, and shall, promptly after the P~ment1)f any of the foregoing,lsrwardicS Mortgagee evidence of such payment. 3. Application of Payments. Unless apP~ble~~~~S~";lllft.p'ayments received by Lender shall be applied; first, to interest due: and, to principal due; and last, to any late",,~'~s9!:'e.uI'l~l!~tb.e~t~. 4. Charges; Liens. Borrower shall pay all taxes:-a~rrien!$..'ihat9es, 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) contests in good faith the lien by, or defends against enforcement of the lien in. legal proceedings which in the Lende~s opmion 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 ioss 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 Lende~s approval, which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lende~s option, obtain coverage to protect Lende~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, induding 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 dause. 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 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 settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repaIr or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30- day period will begin when the notice is mailed. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due 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, Borrowe~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 acquisrtion. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application, Leaseholds. 1 cCbJ;led.wp POD 0 OR: 4444 fG::n~iA~m No. 1606 JC:l~crary 11, 2011 Page 26 of 27 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application, Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy. unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy damage or impair the Property, allows the Property to deteriorate, or commn waste on the Property. Borrower shall be in defaull if any forfenure action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could resull 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 defaull 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 detennination. precludes forfeiture of the Borrower's interest in the Property or other material impainnent of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in c1efaull if Borrower, during the loan application process, gave materially false or inaccurate infonnation or statements to Lender (or failed to provide Lender with any material infonnation) in connection with the loan evidenced by the Note, including, but not limited to, representations conceming Borrower's occupancy olthe Property as a principal residence. If this Security Instrument is on 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 Righlll in the Property. If Borrower fails to perfonn 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 tenns 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 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-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. Losl18S8Dlfl..Qayments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for th._e'~Jr::~~~rBCI!. . u!res) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall paflhfl"piB .. . i~A!ll!r)i~l:!lain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insunih~9\js-rii accordance WftQ lirjf'-ftitten agreement between Borrower and Lender or applicable law. / C / "'Z r \ 9. Inspection. Lender or its agen< may/~onable entries upon'l\nd i~pections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection ~fying-reHOnaP~cause fot, the i~spection. 10. Condemnation. The Pro~dS;Cf arlf a~ or,.darm fO'r di'mages,\pirect. or consequential, in connection with any condemnation or other taking of any part of,.the Prgp~r !o~e~"R..He-~\mnati.on, are hereby assigned and shall be paid to Lender. In the event of a total taking of the,proPl7"'Y,!he))r6~~ st\jll\ ti~"PP~ed to..l~ s~ms s,ecured by this Security Instrument, whether or not then due, with any excess paid to Borro.. ~.r.( In t.h~ eye.. nl of ,B iP. a .al-iak~. tl.f the.., Property, in which the. fair market value of the Property immediately before the taking is ..1 tQ.o~.g_r:etMll[ tlla9 t~e am nt of ttif sums s~rbd by this Security Instrument immediately before the taking, unless Borrower and Le~\he'rwilre ag~WritiTTg;-tfi~ sun1R'eCU~ct!!Y fhis Security Instrument shall be reduced by the amount of the proceeds multiplied by tne foll9wing fraction: (a) the tOI~'amou~t of the-t;ums secured immediately before the taking, divided by (b) the fair market value of the Pr~Oi.Jmmediately before the taR'.i'WJ. ~ny baBi:n~ shall be paid to Borrower. In the event of a partial taking of the Property in which the fair rilliIliet'value of the Property im~diatk>ly~e' the taking is less than the amount of the sums secured immediately for the taking. unless BoriQ~r a'nc;1. Lender otherwise agreei9'I/.Tiim~6r unless applicable law otherwise provides. the proceeds shall be applied to the sums secured~~~nty Instrumen!.-.whlitl~i!t..oF'not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any apPlication'~'p~l!,d~,~iplll"So~.~ot extend or postpone the due dale of the monthly payments referred to In paragraphs 1 or change the arrlOU!tt.bflsUChiPatrfl~~_/ 11. Borro_r Not Released, Forbearance By celld~-a-vVaiver, 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 10 extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12, Successors and Assigns Bound; Joint and Several Liability; Co-Signers, The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions of paragraph 17. Borrower's covenants and agreements shall be joint and severaL Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant and convey that 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 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 f.nally 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 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 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 n 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 parag raph. 15. Governing Law; Severability. Federal law and the law of the Jurisdiction ,n 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 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, 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 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 pennitted by this Securrty Instrument without further notice or demand on Borrower. 2 ~,-t~ -,ed. wp *** OR: 4444 mterWBeMl*Jo. 1606 ... January 11, 2011 Page 27 of 27 PORK 0 18. Borro_r'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 Bonower. (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 attomey's fees; and (d) takes such action as Lender may reasonably require to assure thalthe lien of this Security Instrument, Lender's rights in the Property and BorTOWel'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. 1 B. 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 Bonower, 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. 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 quantil1es 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 govemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower leams, or is notified by any 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 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 Bonower 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 b~Jb~~trumenl. foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of tmf..ri.9\lt '~r relilS~jat 1J!,a~ acceleration and the right to assert in the foreclosure preceding the non-existence of a default or any othe~>d" fe'~~({"~.~"'lion and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at1 " may require iml'nec:!i~ p~ent in full of all sums secured by this Security Instrument without further demand and may fO'Ji'elGe IS Security Instrument by flldic!tl1 proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provid~in !tIilu1,,-[agraph 21, including:!wt no~imited to. reasonable attorney's fees and costs of the title evidence. I I ~~ ~'\ \ \ 22. Release. Upon payment of all sums securedSfthis Security Instrument, LenderShall release this Security Instrument, without charge,toBorrower. BorrowerShallpaya~yrecio~!~ ~~\~ ')7\ \ 23. Attorneys' Fees, As used i1' this ~c'rity'liitrn' 't,n t b\Note-~~,"'aa~ oct ey.s' f~" shall include any attorneys'fees awarded by an appellate court. It l I I. I. i 24. Riders to this Security Instr~, ~i 6c.rrlore riderls !; exec.. .ed,Y BOTTOWer and recorded together with this Security Instrument, the covenants and agreements\~. '..IJch SUCh ridersnari be moor:po..ra ~iS a~1 amend and supplement the covenants and agreements of this Security Instrument as if\~,r'ider(s) were a part of this ~urity Ins~!J~m. (Check Applicable Box) n . \';...:) \ n ~T . 111/ n . . . LJ AdJ.ustable Rate Rider \ I " \ LJ Rate Improvef1lll(lt Fhder';. I LJ Condommlum Rider n \"'r ~ n .,%.~ \....' n ~ Graduated Payment Rider "~/;<J.;~<~tr.~>-/ ~ Second Home Rider LJ Balloon Rider '-..'__~~~nt Rider LJ Planned Unit Development Rider n W Other(s) (specify SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any rider(s) executed by Bonower and recorded with it. Signed, sealed and delivered in the presence of: Witness Signature: ~ Witness Print Name: t W..". "'''''''" . , Witness Print Name: L'0~ N. Ca.V y" Signature: Borrower Signature: Borrower ~ 7!:::Y Address: l03A Bobolink Way Naples, Florida 34105 STATE OF FLORIDA COUNTY OF COLLIER 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 Mary C. McCoy to me known to be the person(s) described in and who executed the foregoing {Sea~RISCILLA DORIA NOllIry Public. SIIIa of florida My comm" expo Mar Il, 2009 Ccnm. No. DO 42134IS ()pnl ,2009. .nstrument and acknowledged before me that HE! SH WITNESS my hand and official seal in the Cou My Commission Expires: 3 ~~!:r'ed.wp