Addendums
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26TH AVE SW, Naples, FL 34116
Folio Number: 36384240000
ADDENDUM
THIS ADDENDUM is entered into this 2g7/J day of 8efr6tt~ 2009, by and between
THE BANK OF NEW YORK MELLON, formerly known as THE BANK OF NEW YORK on behalf
of CIT MORTGAGE LOAN TRUST, INC., 2007-1, Seller, and COLLIER COUNTY, a political
subdivision of the State of Florida, Buyer. Buyer and Seller entered into that certain "As Is"
Contract for Sale and Purchase, the Addendum to Purchase Contract for Vericrest Financial,
LLC, the Addendum to Contract, and the Addendum to the "As Is" Contract for Sale and
Purchase and Addendum to Purchase Contract for Vericrest Financial, LLC and Addendum to
Contract, collectively, the ("Agreement") executed and dated by Buyer on September 14, 2009.
Subsequent to entering into the Agreement and pursuant to provision of the Agreement, Buyer
and Seller wish to amend the Agreement with the following terms and conditions:
1. The Agreement is changed to reflect that the Closing Date shall be on or before
November 16,2009.
2. Should the Agreement and this Addendum not be returned fully executed by
Seller, or Seller's agent, by 5PM, EST on October 5,2009, this offer shall be deemed cancelled.
Except as expressly provided herein, the Agreement between the Buyer and the Seller
remains in full force and effect according to the terms and conditions contained therein, and said
terms and conditions are applicable hereto except as expressly provided otherwise herein.
IN WITNESS WHEREOF, the Buyer and Seller have hereto executed this Addendum the
day and year first above written. ,'-,-"
..
Date Property acquisition approved by BCC:
Ma~h24,20~,lter10F BUYER:
DATED:, ,.9, ,3rt, {;.edJ
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.~~" .1 BOARD OF UNTY CO'2'0NERS
ATT~ ........, ". '-,}.,
DWl:rr E. BR06~~:~1erk ' COLLIER NTY, FLORIDA _
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.t.A4i~" ~~.'~ SELLER:
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THE BANK OF NEW YORK MELLON, formerly
known as THE BANK OF NEW YORK on behalf
of CIT MORTGAGE LOAN TRUST, INC.,2007-1
By:
Print:
Title:
Approved as to form and
'~~~~
Je er B. White,
Assistant County Attorney
MEMORANDUM
Date:
December 15, 2009
To:
Jason Bires
Real Estate Services
From:
Ann Jennejohn, Deputy Clerk
Minutes & Records Department
Re:
1 st, 2nd & 3rd Addendums to the NSP Purchase
Agreement for property at 5410 26th Avenue SW
Attached are the original addendum documents referenced above, (Item #16D8)
approved by the Board of County Commissioners October 27, 2009.
Copies will be kept in the Minutes and_Records Department as part of the Board's
perrnanentrecord.
If you should have any questions, please call me at 252-8406.
Thank you.
Attachment (1)
First Addendum to "As Is" Contract for Sale and Purchase for Verlcrest Financial
Inc. as Attorney In Fact for the Bank of New York Mellon formerly known as the
Bank of New York on behalf of CIT Mortgage Loan Trust 2007.1
VERICREST ACCOUNT NAME: JUAREZ
VERICREST ACCOUNT # 9501439104
PROPERTY ADDRESS: 5410 26'" Avenue SW, Naples, FL 34116
BUYER'S NAME: Collier County, A Political Subdivision of the State of Florida
Purchase price to be $103,550 "as 15".
Seller shall pay $0.00 or concessions and/or Closing costs.
Buyer will pay $0.00 for eamest money.
Seller shall not pay for inspections or repairs, unless otherwise approved by Seller In writing at a cost not
to exceed $0.00.
Seller shall not pay lor home warranty, unless otherwise approved by Seller in writing at a cost not to
exceed $0.00.
Seller will not pay for termite Inspections or treatment, unless otherwise approved by Seller in writing at a
cost not to exceed $0.00
Seller will not pay for surveyor appraisal, unless otherwise approved by Seller in writing at a cost not to
exceed $0.00
Seller will pay for buyer's title Insurance policy, not to include lenders coverage.
Seller and Buyer will splilthe closing fees through escrow or closing attorney SO/50.
Buyer waives all rights to Mediation or Arbitration as may be permitted under applicable law, and in the
event of dispute, Buyer's sole remedy shall be return of the earnest money provided by Buyer.
In the event of Seller's default, the earnest money shall be returned to the Buyer by the Escrow Agent and
shall constitute Buyer's sole and exclusive remedy. Buyer expressly waives any other rights or remedies
including without limitations the right of specific performance.
Seller shall not pay any per diem.
Seller shall not pay any fee for termination option clause.
This is an "as-is" sale and Buyer waives all representations and warranties, expressed or implied as to the
condition of the Property and agrees that Seller has not made any representations or warranties to Buyer.
Closing shall occur no more than 15 days from acceptance on all cash sales, no more than 30 days from
acceptance on all conventional sales and no more than 45 days from acceptance on all VA. FHA or
USDA sales.
No repairs are to be made to the property prior to closing.
Inspections to be completed within 0 days of delivery of the executed contract.
The Seller shall furnish to Purchaser (s) at closing, a Special Warranty Deed or its equivalent.
This addendum will supersede the purchase agreement, and any counters, but not the Nations REO
Addendum.
Seller's name is Vericrest Financial Inc. and or its assignees.
BUYER: See Below
DATE:
SELLER:
The Bank of New York Mellon formerly known
As The Bank of New York on Behalf of CIT
Mortgage Loan Trust 2007-1
By Vericred I="in<>nr-}<>I '.n,::., its Attorney in Fact
-!11-'_";~
By: ~-
Print Name:
Terri Leivas. REO Asset Manager
Title:
12/04/09
Date:
DA TED:.tdrl~ - (1D09
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80 . OF COUNTY COMMISSIONERS
C ER COUNTY, '5iOR!DA
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Donna Fiala, Chairman
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Approved as to form and
legal sufficiency
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Jenni er B. White,
Assistant County Attorney
Second Addendum to "As Is" Contract for Sale and Purchase for
Veri crest Financial Inc, as Attorney In Fact for the Bank of New York
Mellon formerly known ~s the Bank of New York on behalf of CIT
Mortgage loan Trust 2007.1
Property Address: 5410 26th Avenue SW. Naples. FL 34116
1. Price of Property and Terms as to above. Purchaser accepts the property in "AS IS' condillon al the time of
closing Including any hidden defects knOYll1 or unknown. PURCHASER ACKNOWLEDGES THAT NEITHER
SELLER NOR ITS AGENTS HAVE MADE ANY REPRESENTATIONS OR WARRANTIES, IMPLIED OR
EXPRESSED, RELATING TO THE CONDITION OF THE PROPERTY
2. Emest Money to be held by listing or Closing agent Unless otherwise agreed to, Seller will not make any repairs
to the property. Buyer to.be responsible for any lender required repairs unless otherwise agreed upon in writing.
Buyer and Contractor(s) to sign Seller's hold harmless agreement prior to making any rePairs. Buyer's lender
must provide list of lender required repairs 10 listing agent before any work can be started and Buyers agree that
only those lender required repairs speclfied can be completed prior to closing. All work completed prior to closing
must be specifically approved by Seller.
3. Settlement and closlna: The closing shall be determined by Nations REO, or Seller's deslgnated.lille company
and the settlement/closing shall be held In the offices of Ihe Seller's attomey or agent or at a place designated
and approved by the Seller. Seller may benefit from bulk rate escrow discount. Buyer and Seller to pay all own
closing costs. In no event shall Seller pay both sides of the closing/settlement fee unless otherwise agreed to in
the offer. Closing shall occur on or before the ~ day of Oacember,2009 and the Purchaser shall
make every effort to meet this deadline. Should the closing extend beyond this date, through no fault of
the Seller, Seller shall be entitled to a $0.00 per diem fee for each day. Said extension must be In writing
and p.....approved by the Seller. Notwithstanding the foregoing, It Is understood and agreed that Seller
shall retain the right to cancel the contraGt and pu rsue remedl.. GOntalned hareln If the Purchaser falls
to meet the stated deadline. The sale may not close in escrow without the pOor written consent of the SeUer.
Any extensions to the closing date must be approved In writing by the Seller. The Seller reserves the rlghl to
continue to offer the herein descrlbed properly for sale and accept any offer acceptable to the Seller at any time
prior to personal receipt by the Seller through written confirmation. Seller's acceptance of another offer shall
revoka this or any other pending offer. There may be mu~iple offers pending. Seller's signature on the final
accepted offer 15 deemed acceptance of tha1 specific offer only. (See #23 below for details on acceptance of
offer)
4. Cash Offer: Buyer to provide varlrlClltlon of sufficient funds (proof of funds) 10 close this transaction when
submitting offer. Seller's net sheet MUST be supplied with this offer.
5. Keys to front door only will be provided if available. Possession will occur upon confirmallon of racordatlon or
settlement, whichever occurs first.
6. Inspections are for Buyer's Infotmatlon only and must be completed within g days of delivery of the
exeGuted contract. Seller's listing agent III not to receive a copy of any fonnallnspection reports, Buyer
warrants thatlhey have seen the property and agrea to all conditions contained herein regarding the physical
aspects of the property. Seller will not guarantee that utilities will be activated for Inspection If inoperable,
damaged or unsafe. If property Is winterized, Buyer is responsible for cost of dewlnterizing and rewinlerizing.
7. Upon axecution of this offer. Buyer acknowledges that they have researched their ability to obtain suitable
insurance for themselves and the property as may ba required by thalr lendar or other entity. An inability to
obtain suitable Insurance upon close 15 not to be considered a contingency of this contract. This includes. but Is
not limited to, homeowner's, flood or any other required hazard Insurance.
<flIeId> Addendum '0 C001rad VOl 1 04-24-09
Page 1
8. By executing this contract, Buyer is aware that this property may have been obtained through foreclosure or by
deed in lieu of foreclosure. Seller makes no representations, guarantees, or certifications throughout this entire
contract. Buyer is aware that as of the date of this contract, title may have curative issues which may remain
unresolved. Seller and/or Nations REO or Nations REO agent will attempt to cure any title issues that may arise
but will not be held liable for any damages incurred by the Buyer if the sale cannot be completed due to
unmarketable title. Buyer should seek the advice of an independent attorney and fully understand these issues.
Seller shall have a minimum of sixty (60) days from the earlier of the closing date or the date upon which Seller is
notified of any outstanding title issues or defect which in any way impedes or impairs Seller's ability to convey
title as required herein. If, within such sixty (60) day period, Seller determines that it is unable or unwilling, at its
sole discretion, to resolve such matters, then the Buyer may (i) take title in its existing state, thereby waving any
title objections, or (ii) terminate the contract and receive a refund of deposit as Buyer's sole and exclusive
remedy. Seller's exercise of its right hereunder shall not require further notice thereof to Buyer. In the event
Seller fails to resolve such issues within the aforesaid sixty (60) day period, it shall be presumed that Seller has
determined that it is unable or unwilling to resolve such issues.
9. Survey: If a survey is a requirement for closing on this property by the Buyer or the Lender, the Buyer agrees to
be responsible for obtaining and paying for the survey unless otherwise agreed to in the offer. A survey is not a
condition of this transaction.
10. Buyer is responsible for verification of whether property is located in a common interest subdivision. If there is a
homeowner's association associated with the subdivision, Buyer to pay for any required HOA transfer fees, and
any required documentation necessary to Buyer's review and approval. Buyer to obtain, verify and accept actual
amount of homeowners association dues, along with the amount and location f applicable parking spaces, and/or
storage spaces.
11. Seller does not warrant the existence, transfer, condition or ownership of any personal property, systems or
fixtures. Seller reserves the right to terminate this contract and return deposit to Buyer due to property
destruction or damage if they choose not to make any repairs, regardless of the monetary amount involved.
Seller does not agree to assign any insurance proceeds to the buyer.
12. If required to close, Buyer to choose a licensed pest control company and is responsible for ordering inspection
and for providing clearance at close at no cost to the Seller, unless otherwise agreed to in this offer. If Seller
agrees to pay for any termite treatments of property, the treatments must be performed by a licensed termite
contractor and the cost must be capped at $500.00 unless otherwise agreed upon in writing. Seller not
responsible for inaccessible areas. Buyer is responsible for any excess costs, and all other Lender required
repairs.
13. Buyer (s) to sign all additional addendums required by Seller which are to be made part of this contract.
14. Buyer agrees to indemnify Seller/Nations REO and fully protect, defend and hold Seller/Nations REO, its tenants,
agents, employees and contractors, harmless from and against any and all claims, costs, liens, loss damages,
attorney's fees and expenses of every kind and nature that may be sustained by or made against Seller or any
damage to the property or any adjoining property, or any injury to Buyer or any other persons that may result
from or arise out of inspections made by Buyer or its agents, employees and contractors prior to closing.
15. Seller makes no representations as to the property's compliance with any applicable building codes or zoning
ordinances.
16. Buyer warrants that this purchase agreement is not contingent upon the sale of any other real estate, unless
specifically disclosed or agreed upon by Seller. In the event a dispute arises between purchase contracts,
counter offers and this counter offer/addendum, this counter offer/addendum shall supersede and prevail unless
another addendum specifically claims superiority within the terms of that addendum.
17. The Buyer and Seller agree that all times for performance of this contract are OF THE ESSENCE. This means
that the Buyer and Seller must perform what is required of them within the time limits set by this contract or be in
default.
18. Risk of Loss: Risk of loss or damage to the property by fire or other casualty occurring prior to the time Seller
delivers an executed and acknowledged deed to Buyer is expressly assumed by Seller. Should the Property be
damaged or destroyed prior to closing, the contract shall be cancelled and earnest money returned.
<lileld> Addendum to Contract Ver 1 04-24-09
Page 2
19. Negative Sales Proceeds: It is agreed by Purchaser and Seller that if judgments, liens or assessments result in
negative sales proceeds to the Seller, the Seller reserves the right to cancel the contract and return any deposit
monies to the Buyer.
20. The Seller shall furnish to Purchaser (s) at closing, a Special Warranty Deed or its equivalent.
Purchaser's Acknowledgement
See Below
'Date
SELLER:
The Bank of New York Mellon formerly known
As The Bank of New York on Behalf of efT
Mortgage Loan Trust 2007-1
By Vericrest Financial, Inc., its Attorney in Fact
By: ~'b/~
Print Name: Terri Leivas, REO Asset Manager
Title:
Date:
12104/09
DATED: 1C3-tS-OC()1
ATTEST:
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BOARD OF OUNTY COMMISSIONERS
COLLIE UNTY, FLOR'o/ _ .
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la, Chairman
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Approved as to form and
legal sufficiency
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Assistant County Att~rney
<fileld~ Addendum 10 Contract Ver 1 04-24-09
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Page 3
NEIGHBORHOOD STABILIZATION PROGRAM
Prope:1y Address: 5410 26TH AVE SW, Naples, FL 34116
Falla Number: 36384240000
THIRD ADDENDUM TO "AS IS" CONTRACT FOR SALE AND PURCHASE FOR VERICREST FINANCIAL.
INC.. AS ATTORNEY IN FACT FOR THE BANK OF NEW YORK MELLON FORMERLY KNOWN AS THE
BANK OF NEW YORK ON BEHALF OF CIT MORTGAGE LOAN TRUST 2007-1
THIS THIRD ADDENDUM is entered into by and between THE BANK OF NEW YORK MELLON formerly known
as THE BANK OF NEW YORK on behalf of CIT MORTGAGE LOAN TRUST 2007-1 by Vericrest Financial, Inc., its
Attorney in Fact, Seller and COLLIER COUNTY, a Political Subdivision of the State of Florida, Buyer. Buyer and Seller
have entered into that certain "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for
The.Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1,
and First Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The
Bal)k of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 and
Second Addendum to Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of
New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 concerning the
property at 5410 26th Avenue SW, Naples, FL 34116 (hereinafter referred to as "Property") attached hereto, and dated as
shown, and Buyer and Seller wish to amend the foregoing with the following additional terms and conditions:
1. The "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of
New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1, the First
Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New
York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1, the Second
Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New
York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 and this Third
Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New
York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007 shall, collectively,
constitute the "Agreement" between the parties, which Agreement shall only be effective upon the execution of all four
referenced documents by both parties.
2. The purchase price shall be $103,550.00 and any requirements for initials are waived.
3. The earnest money deposit shall be $0.00 and any requirements for initials are waived.
4. The closing date shall be December 30, 2009 and any requirements for initials are waived.
5. Paragraph 3 of the Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc.,
as ,.>,ttorney in Fact for The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage
Loan Trust 2007-1 is revised to reflect that Seller shall be entitled to $0.00 per diem, and any requirements for initials are
waived.
6. Paragraph 4 of the Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc.,
as A:torney in Fact for The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage
Loan Trust 2007-1 is not applicable and therefore is deleted in its entirety, and any requirements for initials are waived.
7. Paragraphs 6, 7, 8 and 9 of the Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest
Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly known as The Bank of New York on behalf
of CIT Mortgage Loan Trust 2007-1 are not applicable and therefore are deleted in their entirety, and any requirements for
initials are waived.
8. Paragraph 19 of the Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc.,
as Atiorney in Fact for The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage
Loan Trust 2007-1 is deleted in its entirety, and any requirements for initials are waived. Buyer shall not occupy or control
access to the Property prior to Closing.
9. Paragraph 23 of the Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc.,
as Attorney in Fact for The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage
Loan Trust 2007-1 is not applicable and is therefore deleted in its entirety, and any requirements for initials are waived.
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26TH AVE SW, Naples, FL 34116
Falla Number: 36384240000
10. The notations "See Substitute Execution Page" at the bottom of Page 2 of the First Addendum to "As Is"
Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly
known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 and Second Addendum to "As Is" Contract
for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly known
as Tne Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 are acceptable, and any requirements for initials
are waived.
11. The First Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact
for Yhe Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1
and the Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for
The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1
concerning the Property are hereby revised to reflect that a Special Warranty Deed shall be the only acceptable method of
transfer and conveyance, and any requirement for initials are waived.
12. Should the "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The
Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 and all
three addenda not be returned, fully and properly executed by Seller by 5PM, EST on Friday, December 4, 2009 this offer
shall be deemed canceled.
EXCEPT as expressly provided herein, the Agreement between the Buyer and the Seller remains in full force and effect
according to the terms and conditions contained therein, and said terms and conditions are applicable hereto except as
expressly provided otherwise herein.
IN WITNESS WHEREOF, the Buyer and Seller have hereto executed this Addendum.
Date property acquisition approved by BCC:
March~4; 2PQ9.1tem 10F
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Approved as to form and legal sufficiency:
Jennifer B. White~~t~~~~
DATED: II \ Q 'T-1.Q~
BUYER:
SELLER:
The Bank of New York Mellon formerly known
As The Bank of New York on Behalf of CIT
Mortgage Loan Trust 2007-1
By Vericrest Financial, Inc., its Attorney in Fact
By:
Print Name:
Title:
NEIGHBORHOOD Sl ABILlZA liON PROGRAM
Property Address: 5410 26TH AVE SW. Naples. FL 34116
Folio Number: 36384240000
THIRD ADDENDUM TO "AS IS" CONTRACT FOR SALE AND PURCHASE FOR VERICREST FINANCIAL.
INC.. AS ATTORNEY IN FACT FOR THE BANK OF NEW YORK MELLON FORMERLY KNOWN AS THE
BANK OF NEW YORK ON BEHALF OF CIT MORTGAGE LOAN TRUST 2007-1
. THIS THIRD ADDENDUM is entered into by and between THE BANK OF NEW YORK MELLON formerly known
as THE BANK OF NEW YORK on behalf of CIT MORTGAGE LOAN TRUST 2007-1 by Vericrest Financial, Inc., its
Attorney in Fact, Seller and COLLIER COUNTY, a Political Subdivision of the State of Florida, Buyer. Buyer and Seller
have' entered into that certain "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for
The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1,
and First Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The
Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 and
Second Addendum to Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of
New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 concerning the
property at 5410 26th Avenue SW, Naples, FL 34116 (hereinafter referred to as "Property") attached hereto, and dated as
Shown, and Buyer and Seller wish to amend the foregoing with the following additional terms and conditions:
1. The "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of
New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1, the First
Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New
York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1, the Second
Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New
York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 and this Third
Add~.,dum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New
York \IIellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007 shall, collectively,
constitute the "Agreement" between the parties, which Agreement shall only be effective upon the execution of all four
referenced documents by both parties.
2. The purchase price shall be $103,550.00 and any requirements for initials are waived.
3. The earnest money deposit shall be $0.00 and any requirements for initials are waived.
4. The closing date shall be December 30, 2009 and any requirements for initials are waived.
5. The First Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact
for" he Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1
and (he Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for
The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1
concerning the Property are hereby revised to reflect that Buyer shall not split the closing fees and shall only be
responsible for reasonable and customary Buyer's closing costs up to $350 and a Special Warranty Deed shall be the
only acceptable method of transfer and conveyance, and any requirement for initials are waived.
6. Should this Third Addendum to "As Is" Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney
in Fac.t for The Bank of New York Mellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust
2007-1 not be returned, fully and properly executed by Seller by 5PM, EST on Wednesday, December 16, 2009 this offer
shall be deemed canceled.
EXCEPT as expressly provided herein, the Agreement between the Buyer and the Seller remains in full force and effect
according to the terms and conditions contained therein, and said terms and conditions are applicable hereto except as
expressly provided otherwise herein.
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26TH AVE SW. Naples. FL 34116
Folio Number: 36384240000
IN WITNESS WHEREOF, the Buyer and Seller have hereto executed this Addendum.
Date property acquisition approved by BCC:
March 24, 2009, Item 10F
DATED: la15-a-o{)1
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ATTEST::"'. ....... >'(.
DWIGHT E. B.ROCK;'Glerk:~'~
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Approved as to form and legal sufficiency
~')\)~
Jennifer B. WH ,Assistant County Attorney
DA TE:1:
BUYER:
BY:
Donna Fiala, Chairman
SELLER:
The Bank of New York Mellon formerly known
As The Bank of New York on Behalf of CIT
Mortgage Loan Trust 2007-1
By Vericrest Financial, Inc., its Attorney in FaCt
By:
Print Name:
Title:
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26TH AVE SW, Naples, FL 34116
Folio Number: 36384240000
FOURTH ADDENDUM TO "AS IS" CONTRACT FOR SALE AND PURCHASE FOR VERICREST
FINANCIAL. INC.. AS ATTORNEY IN FACT FOR THE BANK OF NEW YORK MELLON
FORMERLY KNOWN AS THE BANK OF NEW YORK ON BEHALF OF CIT MORTGAGE LOAN
TRUST 2007-1
THIS FOURTH ADDENDUM is entered into by and between THE BANK OF NEW YORK MELLON formerly
known as THE BANK OF NEW YORK on behalf of CIT MORTGAGE LOAN TRUST 2007-1 by Vericrest
Financial, Inc., its Attorney in Fact, Seller and COLLIER COUNTY, a Political Subdivision of the State of Florida,
Buyer. Buyer and Seller have entered into that certain "As Is" Contract for Sale and Purchase for Vericrest
Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly known as The Bank of New York
on behalf of CIT Mortgage Loan Trust 2007-1, and First Addendum to "As Is" Contract for Sale and Purchase for
Vericrest Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly known as The Bank of
New York on behalf of CIT Mortgage Loan Trust 2007-1, and Second Addendum to "As Is" Contract for Sale
and Purchase for Veri crest Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly known
as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1, and Third Addendum to "As Is"
Contract for Sale and Purchase for Vericrest Financial, Inc., as Attorney in Fact for The Bank of New York
tl.lellon formerly known as The Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1 concerning the
property at 5410 26th Avenue SW, Naples, FL 34116 (hereinafter referred to as "Property") attached hereto, and
jated as shown, and Buyer and Seller wish to amend the foregoing with the following additional terms and
c:onditions:
1. The final sentence of #3 on The Second Addendum to "As Is" Contract for Sale and Purchase for
Vericrest Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly known as The
Bank of New York on behalf of CIT Mortgage Loan Trust 2007-1, which states "(See #23 below for
details on acceptance of offer)" should be deleted in its entirety.
2. Paragraph 4 on the Second Addendum to "As Is" Contract for Sale and Purchase for Vericrest
Financial, Inc., as Attorney in Fact for The Bank of New York Mellon formerly known as The Bank of
New York on behalf of CIT Mortgage Loan Trust 2007-1 should be deleted in its entirety.
3. The subject property was built in 1986, and therefore the requirement for the lead based paint
disclosure is waived.
EXCEPT as expressly provided herein, the Agreement between the Purchaser and the Seller remains in full
force and effect according to the terms and conditions contained therein, and said terms and conditions are
applicable hereto except as expressly provided otherwise herein.
IN WITNESS WHEREOF, the Purchaser and Seller have hereto executed this Addendum.
Date property acquisition approved by BCC:
March 24, 2009, Item 10F
OA TED1)e~~ Z 9, 2wQ
PURCHASER:
.
ATTEST:
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Aoproved as to form an egal sufficiency:
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Jennifer. hite, Assistant County Attorney
.,
BROCK,Clerk
i l'.'1>s? ______
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BOARD Or~OUNTY COMMI:;lSIONERS
COLLlEf/fUNTY, FLORIDf.1
Ii,' . .... yl. //
BY: "ri........~"I A ' 'J,,_ '-/(-
Donna Fiala, Chairman
SELLER:
The Bank of New York Mellon formerly known as
The Bank of New York on behalf of CIT Mortgage
Loan Trust 2007-1
BY:
PRINT NAME:
TITLE:
DATED:
MEMORANDUM
Date: September 28, 2009
To: Gary Bigelow, Property Acquisition Specialist
Facilities Management
From: Ann Jennejohn, Deputy Clerk
Minutes & Records Department
Re: CIT Mortgage Loan Trust, Inc. Agreement
Sales Contract Addendum (wN ericrest Financial, LLC)
NSP Property Address: 5410 26th Avenue SW
Attached is the original contract addendum, as referenced above (Agenda Item #10F) and
approved by the Board of County Commissioners on March 24, 2009.
We have made a copy and will hold it with the Board's Official Records.
If you should have any questions, please contact me at 252-8406.
Thank you.
Attachment