Statutory Deed
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 2040 46th Terrace SW, Naples, FL 34116
Folio Number: 35744080005
STATUTORY DEED
THIS DEED, made thisu.1hday of -A1".e/~ , 2010, by COLLIER COUNTY, a
Political Subdivision of the State of Florida, whose mailing address is 3301 Tamiami Trail
East, Naples, Florida 34112, hereinafter called the Grantor, to BRENDA M. REYES & WILSON
M. REYES, a married couple, whose mailing address is 8690 Weir Lane #204, Naples, Florida
34104, hereinafter called the Grantee.
(Whenever used herein the terms "Grantor" and "Grantee" include all the parties to this
instrument and their respective heirs, successors or assigns.)
WITNESSETH that the Grantor, for and in consideration of the sum of Ten Dollars,
($10.00) to it in hand paid by the Grantee, receipt whereof is hereby acknowledged, does
hereby grant, bargain and sell unto the Grantee, the following described land lying and being in
Collier County, Florida:
Towil:
Lot 14, Block 20, Golden Gate, Unit 2, according to the plat thereof, as recorded in Plat Book 5,
Pages 65 through 77, inclusive, of the Public Records of Collier County, Florida.
NK/A: 2040 46th Terrace SW, Naples, Florida 34116
Subject to easements, restrictions, and reservations of record.
IN WITNESS WHEREOF the said Grantor has caused these presents to be executed by
its Board of County Commissioners acting through its Chairman, the day and year aforesaid.
This Conveyance Approved by BCC: December 1, 2009 - Item 17B
ATTE~T:,
DWIGHTE.:Ii3ROCK, Clerk
...~~l
~ '..' . , Deputy Clerk
(OFFi~':~.Srt'tb r.M tMJA" i
~ \ 'Jt1.\t!'f't ,)tI I J
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
By: '~/"l.J... w t"..,~~.
Fred W. Coyle, Chairman ( .
Approved as to form
And legal sufficiency
~~~
Jennifer. ite, Assistant County Attorney
INSTR 4469643 OR 4600 PG 50S RECORDED 8/31/2010 10:05 AM PAGES 4
DWIGHT E. BROCK, COLLIER COUNTY CLERK OF THE CIRCUIT COURT
DOC@.35 $104.30 INT@.002 $59.52 REC $35.50
OBLD $29,760.00 OBLI $29,760.00
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NEIGHBORHOOD STABILIZATION PROGRAM
FOLIO NO.~ 35744080005
RECORD AND RETURN TO;
COLLIER COUNTY HOUSING & HUMAN SERVICES
BUILDING ~W
3301 TAMLAMI TRAIL EAST
NAPLES, FL 3-4112
wl=)q.E>~
.it, '\ oL\.~D PURCHASE MONEY SECOND MORTGAGE
THIS PURCHASE MONEY SECOND MORTGAGE ("Security Instrument") is given on c;t(,fhday of fk#e4.S f- 2010. The
Purchase Money Second Mortgagor is BRENDA M. REYES & WILSON M. REYES, a married couple, rSorro r"). This Security Instrument
is given to COLLIER COUNTY, a Political Subdivision of the State of Flonda ("Lende!"'), whose address is 3301 E. Tamlaml Trail, Naples,
Florida 34112. Borrower owe$ lender the sum of TWENTY-NINE TIWUSP-ND, Sr:vEN.HUNDRED SIXTY and nO/lOa DOLLARS
($29,760.00), in US CUrrency. This debt is evidenced by Borrowets Note dated the same date as this Security Instrument ("Purchase
Money Second Mortgage"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable upon 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 Borrower's covenants and agreements under this Security Instrument
and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender the following described property located in ColHer
County, Florida.
~---~"'-,",
As more particularly described as Lot 14, Block 20, Gold~~ii~~t r.-~qqr~iRa. to the plat thereof, as recorded In Plat Book 6, Pages
65~77, Inclusive, of the Public Records of Collier C~~p:6~"'~\NIft~~.s 'R.t address of: (~Property Address"): 2040 46th Terrace
SW, Naples, Florida 34116. ~. 0 /"-- " }'J"
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TOGETHER WITH all the improvemen no;;.6 er erected on the pr erty, nd all easements, rights, appurtenances, rents,
royalties, mineral, oil and gas rights and profits, ater.,fig-' d st ures no or h reafier a part of the property All replacements
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BORROWER COVENANTS that Bo1owe{~ I . 0 ~nv yed and has the nght to mortgage, grant and
convey the Property and that the Property IS enc re, x p fo e c br re ord Borrower warrants and Will defend generally
the title to the Property against all claIms and ema 5, subJ t a y u n e ~
THIS SECURITY INSTRUMENT co ~ 0 alton u a -Uniform covenants With limIted vanation by
JUrisdictIOn to constItute a unlfonn secunty lnst me covenng rea property ~ Cl:;
UNIFORM COVENANTS. Borrower a \" der covenant and agree Jolla : J"::'I
1. Payment of Principal and Interes '~ yment and Late Cha . ~/'e!. ,~all promptly pay when due the principal of and
interest on the debt evidenced by the Note. _. ' / ,~ . I
2. Taxes. The Mortgagor will pay atllax a~1 '. sments, sewer rents o,s-.~eh,a1es prior to the accrual of any penalties or Interest
thereon. U/2 .....___~/ \\, /
The Mortgagor shall payor cause to be paid~~h~.. . ~/ . e due, (a) all taxes and governmental charges of any
kind whatsoever which may at any time be lawfully assesse . ~ a . ~spect to the Property, (b) all utility and other charges,
including "service charges", incurred or imposed for the operation, ma n enance, use, occupancy, upkeep and improvement of the Property, and
(c) all assessments or other govemmental charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be
obligated under the Mortgage to payor cause to be paid only such installments as are required to be paid during the term of the Mortgage.
3. Application of Payments. Unless applicable taw 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 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 10 lender, (b) contests in good faith the lien by, or defends against
enforcement of the lien in, legal proceedings which in the Lendets 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 shalt 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 shalt keep the improvements now existing or hereafter erected on the Property insured
against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Lender
requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier
providing the Insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to
maintain coverage described above, Lender may, al Lender's option, obtain coverage to protect Lender's rights in the Property in accordance
with paragraph 7. At aUtimes 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, with a uniform standard extended coverage endorsement. including debris
removal coverage. Such insurance at all times 10 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. 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 ir not made promptly by Borrower.
OR 4600 PG 506
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property
damaged. if the restoration or repair is economically feasible and lender's securlly is not lessened. If the restoration or repair is not
economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by the Security
Instrument, whether or nol 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 oHered to settle a claim, then Lender may collect the insurance proceeds. lender may use
the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument. whether or not then due. The 3o-day period
will begin when the notice is mailed. Unless lender and Borrower otherwise agree in Writing, any application of proceeds to principal shall not
extend or postpone the due date of the monthly payments referred to in paragraph 1 or change the amount of the payments. If under paragraph
21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to
the acquisition shall pass to lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition.
6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application, Leaseholds.
Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security
Instrument and shall continue to occupy the Property as Borrower's principal residence for full term as described in the nole, unless lender
otherwise agrees in writing, which consent shaH not be unreasonably withheld, or unless extenuating circumstances exist which are beyond
Borrower's control. BorrO\Yer shall not destroy, damage, or impair the Property, allow the Property to deteriorate, or commit waste on the
Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or crimJnal, is begun that In lender's good faith
judgment could result in forfeiture of the Property or othelWlse materially impair the lien created by this Security Instrument or lender's security
interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed
with a ruling that. in Lender's good faith determination, precludes forfeiture of 1he Borrower's interest in the Property or other material
impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if Borrower, during the
loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide lender with any material
information) in connection with the loan evidenced by the Note, including, but not limited 10, representations concerning Borrower's occupancy
of the Property as a principal residence. If this Security Instryme!1nrs::6~~e1l.0Id, Borrower shall comply with all the provision of the lease.
If Borrower acquires fee title to the Property, the leaseho19-s1ld ~~Elfe\NJ!~.:~t~Wnp\rn~ge unless lender agrees to the merger in writing.
7. Protection of lender's Rights In the r<~\ ~.--tt"60rroweH'/!l'ilSA~~ . rm the covenants and agreements contained in this
Security Instrument, or there is a .Iegal pro~edin -tn",J ay significantly aff~Ct~~lO.st~ rights in the Property (such as a proceeding in
bankruptcy, probate, for condemnation or forfeltur or~ nforce laws or regulations), )~en Llh,lder may do and pay for whatever is necessary to
protect the value of the Property and Lender's . hts i r=rt}'-,-lender'~ctions may i~ude paying any sums secured by a lien which
has priority over this Security I.~strvment, a~pe ringi" ' ing r.easonable\anomey~, fee and entering o~ the Property to make repairs.
Although lender may take action under thiS aragtal 7, len~-doe . not ha e to do ~. "y amounts disbursed by lender under this
paragraph 7 shall become addItional debt of rr~f I b4 . ru e ") Unl s Borrower and Lender agree to other 1erms
of payment, these amounts shall bear interes fro th date of is urs ~e~h N r e arid shall be payable, with interest, upon notice
from lender to Borrower requesting payment. I " i ~ i
8. Mortgage Insurance, If lend G u 0 . sut as di' making the loan secured by this Security
Instrument, Borrower shall pay the premiums r uir to maintain the mo~. .. insur nce. ~~~. If, for any reason, the mortgage insurance
coverage required by Lender lapses or cease~. in effect, 80rrowe~g:at., aY~e . ~~;;'s required to obtain coverage substantially
equivalent to the mortgage insurance previously. f ' at a cost substantlaifi RU. .rlU he cost 10 Borrower of the mortgage insurance
previously in effect, from an alternate mortgage i er.~.roved by lender. If su ~aA1ia.' equivalent mortgage insurance coverage is not
available, Borrower shall pay to Lender each mon <(:~. equal to one.twel~J.vbl~e early mortgage insurance premium being paid by
Borrower when the insurance coverage lapsed or ceas b ..ttti3.f.teCLUA .r,~~ \- pt, use and relain these payments as a loss reserve
in lieu of mortgage insurance. Loss reserve payments m M~ l~rfJfr-r t~H,q~,.....atihe option of Lender, if mortgage insurance coverage (in
the amount and for the period that Lender requires) provided~by-a~aPproved by Lender again becomes available and is obtained.
Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for
mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law.
9. Inspection. lender or its agent may make reasonable entries upon and Inspections of the Property. Lender shall give Borrower
notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
10. CondemnaUon. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation
or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to lender. In the
event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
with any excess paid to Borrower. In the event of a partial taking of the Property, in which 1he fair market value of the Property immediately
before the taking Is equal to or greater than the amount of the sums secured by this Security Instrument Immediately before the taking, unless
Borrower and lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds
multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value
of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial1aking of the Property In which
the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking,
unless Borrower and lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums
secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any
application of proceeds to principal shall not extend or postpone the due dale 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 mo~cation 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 shalt nol be required to commence proceedings
against any successor in interest or refuse to extend time for paymen1 or otherwise modify amortJzation 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-5lgners. The covenants and agreements of this Security
Instrument Shall bind and benefit the successors and assigns of Lender and Borrower, subject to 1he 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
2
OR 4600 PG 507
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 ex1end, modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note
without that Borrower's consent.
13. loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that
law is finally interpreted so Ihat the interest or other loan charges collected or 10 be collected in connection with the loan exceed the permitted
limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit and (b) any sums
already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by
reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be
treated as a partial prepayment without any prepayment charge under the Note.
14, Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first
class mail unless applicable law required use of another method. The notice shall be directed to the Property Address or any other address
Borrower designates by notice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph.
15, Governing Law; Severability, This Security Instrument shall be governed by federal taw and the law of the jurisdiction in which
the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such
conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To
this end the provisions of this Security Instrument and the Note are declared to be severable
16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
17. Transfer of the Property or a Beneficial Interest In Borrower. If all or any part of the Property or any interest in it is sold or
transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without lender's prior written
consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall
not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instl1.Jment.
If Lender exercised this option, Lender shall give Borrower n~::.ofJl~IEn~-tio.Q.: The notice shall provide a period of not less than 30 days
from the date the notice is delivered or mailed within wh~.~rr!\.~l6.uM-~i1I~ secured by this Security Instrument. It Borrower fails to
pay these sums prior to the expiration of this period,...... ~elyli1v--oKear1Y'~~s,,permitted by this Security Instrument without further
notice or demand on Borrower. / " , ' / " )-, \
18. Borrower's Right to ReInstate. If oWr meets certain conditions, rro r shall have the right to have enforcement of this
Security Instrument discontinued at any time 'or t' u;re--eameT\Qt..a5 ~ s (or ch ther period as applicable law may specify for
reinstatement) before sale of the Property pu uan Ito a~ er of sale ~nj ined in is curity Instrument; or (b) entry of a judgment
enforcing this Security Instrument. Those con ition ar h t Bo r: a sender al sum which then would be due under this Security
Instrument and the Note as if no acceleration ad u~ s n u f y r enants or agreements; (c) pays all expenses
incurred in enforcing this Security Instrument, nclu ng but ot I mi d a mly,s f es; and (d) takes such action as Lender may
reasonably require to assure that the lien of t is..,S uri In en , right in he roO and Borrower's obligation to pay the sums
secured by this Security Instrumenl shall con r\ud e . r erne 0 , this Security Instrument and the obligations
secured hereby shall remain fully effective as fCii'q cceleration had occumm., Ho ver,j ~9ht to reinstate shall not apply in the case of
acceleration under paragraph 17. ((\ ~ Jlk I I.""'"
19. Sale of Note; Change of Loan S The Note or a partial 1 . re t jA't~J.iote (together with this Security Instrument) may
be sold one or more times without prior notice to ro r. A sale may resu'~6ana, in the entity (known as the "Loan Servicer") that
collects monthly payments due under the Note an i019~ty Instrument. n}ft(e..'~o/':"ay be one or more changes of the Loan Servicer
unrelated to a sale of the Note. If there is a change of .to' efl,1i.ce!:.-.Boff.aleJi ~11. given written notice of the change in accordance with
paragraph 14 and applicable law. The notice will state tli ~~ ~Jalft} ~~;;to~w LO. an Servicer and the address to which payments
should be made. The notice will also contain any other informatTbn-r-eljuflad'.by1fPplicable law
20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage. or release of any Hazardous
Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any
Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of
Hazardous Substances that are generally recognized to be appropriate to nonnal residential uses and to maintenance of the Property.
Borrower shall promptly give Lender written notice for any investigation, claim, demand, lawsuil or other action by any governmental or
regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual
knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary. Borrower shall promptly take all necessary remedial actions in accordance with
Environmental Law.
As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, loxic pesticides and
herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20,
"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental
protection.
21, AcceleratIon; Remedies. lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant
or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The
notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given
to Borrower, by which the default must be cured; and (d) that failure 10 cure the default on or before the date specified in the notice may result
in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall
further infonn Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non.-existence of a
default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice.
Lender, at ils option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may
foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies
provided in this paragraph 21, including, but not limited to, reasonable attomey's fees and costs of the title evidence.
22. Release. Upon payment of all sums secured by this Security Instrument. Lender shall release this Security Instrument, without
charge, to Borrower. Borrower shall pay any recordation costs.
3
*** OR 4600 PG SOB ***
23. Attorneys' Fees. As used in this Security Instrument and the Note. "attorneys' fees" shall include any attorneys' fees awarded by
an appellate court.
24. Special Covenants.
Subsidy Retention.
a. Fair Market Value: Fair Markel Value is the mar1c;et value of the Property as reasonably detennined by appraisal. Lender
and Homeowner shall mutually select an appraiser whose determination shall be deemed Fair Market Value. If lender and
Homeowner cannot mutually agree on an appraiser, each shall select an appraiser who shall each submit an appraisal. If
the two appraisals differ, then the average of the two appraisals shall be deemed Ihe Fair Market Value. All costs of
appraisal shall be borne by Homeowner.
b. Tenn: The Subsidy Retention requirement shall commence upon transfer of title to the Property to Homeowner and shall
end on the later of (i) the original malurity date of the Note; or (H) fifteen (15) years.
c. Purpose: The subsidy retention amount is the amount necessary to reduce the purchase price to an affordable level for the
qualifying Homeowner having an income below one hundred twenty percent (120%) of the Area Median Income (-AMI).
d. Index: U,S. Department of Labor Bureau of Labor Statistics consumer Price Index - All Urban Consumers Miami-Fort
Lauderdale, Florida Area, effective date of proposed transfer.
e. Appreciation limitation: Should Homeo....",er desire 10 transfer the Property prior to maturity date of the Nole and
Mortgage, appreciation shaH be limited to the original purchase price plus annual appreciation based upon the Index defined
in section (I)(d) of this Mortgage. For example, assume the Homeowner purchases the home for $175,000 and there is a
3% annual income inflation as determined by the Index, then at the end of five years the house wilt be worth $202,673.00
representing the projected Homeowner equity of $27,873. Notwithstanding that the Property could be sold for a greater Fair
Market Value than $202,873, $202,873 will be th.l:un~llJ)ym allowable purchase price the house can be sold for. and only to
an income qualified Applicant, approved b~~~~tj::oynty~~g and Human Services.
f. Joint and Several. L1~billty.: Eac.h 8er(.~ 0,\ ;\~!i1b_~~ft.a.~ ~ as Homeowner shall be jointly and severally liable for
each and every obligation anslng ,~t~"'~{/ ",~~Y..,.:r.)".".~
/ l....-'// ~- .-~ "\
SIGNING BELOW, Borrower accepts and agree!;o tne~&ITi1~-anCCo'J-eI1an1.t~ talOed)~hl;'\cunty Instrument and to any nder(s) executed
by Borrower and recorded WIth .t r \ I ~~ -~-..'\ /-.....
SIgned. sealed and delIvered In the presence Jr (/7;------;] ('<Q \l~'\_____ --
W,tness#1: a' . 1M '). Kt!. r: y\4~ B
Signature . /(t: A..
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Witness#2: N. L...LVY 1--. '--- ~~gnature:.'
.rY. '\ /1 I _,J ;:<::-__~~.~'~~r.ow'\J .
Signature~I~V {/ --..:....---TJiE C~://"
AddresS: 8690 Weir Lane #204
Naples, FL 34116
I.
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 BRENDA M. REYES & WILSON M. REYES, a married couple, to me known to be the person(s)
described in and who executed the foregoing instrument and acknowledged before me that (Hel she/ they) executed the same for the purpose
therein expressed.
AudtL5f-
1J.
WITNESS my hand and officlal seal in the County and Stale aforesaid this..2L day of
.2010.
(Seal)
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~'\,,\,..\~E {]. ft.t,;"/;j-/. Notary Public's Signature
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My Commission Expires:
4
Co~r County
-- ~.-
-
Administrative Services Division
Facilities Management
Real Property Management Section
September I, 20 I 0
Minutes & Records
Collier County Clerk of Courts
3301 Tamiami Trail E
Bldg F
Naples, FL 34112
Ladies:
Attached, for your reference, please tind a copy of the recorded Statutory Deed for the property located at
2040 46th Ter SW, Naples, FL 34116, recorded at OR Book 4600, Page 494, of the Public Records of Collier
County, Florida.
The Board of County Commissioner of Collier County, Florida had approved this item pursuant to Agenda
Item 16DL dated May 11,2010.
Thank you.
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Property Acquisition Specialist
Real Property Management
252-8073
Cc: Collier County Property Appraiser
Collier County Tax Collector
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