Agenda 06/28/2016 Item #16D 3 6/28/2016 16.D.3.
EXECUTIVE SUMMARY
Recommendation to approve two satisfactions of mortgage for the State Housing Initiatives
Partnership loan program for full payment in the amount of $39,400 and to authorize a budget
amendment recognizing$39,400 in program income revenue generated by repayment of loans(Net
Fiscal Impact of$39,400).
OBJECTIVE: To support the affordability of housing in Collier County through State Housing
Initiatives(SHIP)down payment and emergency repair and/or rehabilitation assistance programs.
CONSIDERATIONS: The State Housing Initiatives Partnership Program (SHIP), a state
affordable housing program, offers assistance to first time homebuyers for use toward a portion of
the required down payment and emergency repairs to the newly acquired home. As a condition of
award, the homeowner must repay the assistance provided upon sale,refinance or loss of homestead
exemption.
Pursuant to Section 420.9075(1), Florida Statutes, the SHIP Program may provide the local
matching share of federal affordable housing grants or programs as a non-Federal matching
contribution. 24 CFR 92.503(c) requires that any SHIP monies used to match federal HOME
program monies be repaid to'the HOME program fund and are considered program income under
the HOME program.
The following table details SHIP loans for which repayment in full has been provided to Collier
County. These loans were used as a HOME match contribution; therefore repayment will be
made to the HOME Investment Trust Fund.
File# Recipient Name Security Payoff Public Record
Instrument Amount
Amaury Amador
11-090 Pedrera and Yanay SHIP Second $20,000 OR BK;4895,PG; 3632
Amador Mortgage Recorded on: 03/13/2013
11-034 Laurie J. Schaeffer SHIP Second $19,400 OR BK;4849,PG;3305
Mortgage Recorded on:10/29/2012
Total $39,400
Approval of this item will authorize the Chairman to sign the aforementioned satisfactions of
mortgage and the executed documents shall be recorded in the Public Records of Collier County,
Florida.
FISCALIMPACT: A budget amendment is necessary to recognize program income
in the amount of $39,400 within Housing Grant Fund (705) Project No. 33290.
These funds may be reused for eligible HOME program activities.
GROWTHMANAGEMENTIMPACT: There is no growth management impact associated
with this Executive Summary.
/—*\
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6/28/2016 16.D.3.
LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority
vote for Board action.-JAB
RECOMMENDATION: That the Board of County Commissioners approves and authorizes the
Chairman to sign the Mortgage Satisfactions where repayment in full has been made to Collier County
and to authorize the necessary budget amendment to recognize revenue received.
Prepared By:Wendy Klopf,Operations Coordinator,Community and Human Services Division
Attachments:
1. Satisfaction of SHIP HOME Match Mortgage 06.28.16
2. SHIP HOME Match Mortgages 06.28.16
3. SAP backup SHIP-HOME Match 06.28.16
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6/28/2016 16.D.3.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.D.16.D.3.
Item Summary: Recommendation to approve two satisfactions of mortgage for the State
Housing Initiatives Partnership loan program for full payment in the amount of$39,400 and to
authorize a budget amendment recognizing$39,400 in program income revenue generated by
repayment of loans(Net Fiscal Impact of$39,400).
Meeting Date: 6/28/2016
Prepared By
Name:KlopfWendy
Title: Operations Coordinator,Community&Human Services
5/18/2016 2:55:41 PM
Submitted by
Title: Operations Coordinator,Community&Human Services
Name: KlopfWendy
5/18/2016 2:55:43 PM
Approved By
Name: LopezMaggie
Title: Supervisor-Accounting, Community&Human Services
Date: 5/19/2016 6:51:54 PM
Name: SonntagKristi
Title: Manager-Federal/State Grants Operation,Community&Human Services
Date: 5/25/2016 2:18:17 PM
Name: GrantKimberley
Title:Division Director-Cmnty&Human Svc,Community&Human Services
Date: 5/31/2016 2:30:22 PM
Name: TownsendAmanda
Title: Division Director-Operations Support,Public Services Department
Date: 6/5/2016 10:47:55 AM
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6/28/2016 16.D.3.
Name: AlonsoHailey
Title: Operations Analyst,Public Services Department
Date: 6/6/2016 3:38:03 PM
Name: AlonsoHailey
Title: Operations Analyst,Public Services Department
Date: 6/6/2016 3:55:07 PM
Name: BelpedioJennifer
Title:Assistant County Attorney,CAO General Services
Date: 6/9/2016 11:21:05 AM
Name: RobinsonErica
Title: Accountant, Senior,Grants Management Office
Date: 6/9/2016 1:55:51 PM
Name: CarnellSteve
Title: Department Head-Public Services,Public Services Department
Date: 6/13/2016 1:06:30 PM
Name: BelpedioJennifer
Title:Assistant County Attorney,CAO General Services
Date: 6/14/2016 11:28:37 AM
Name: KlatzkowJeff
Title: County Attorney,
Date: 6/16/2016 9:30:41 AM
Name: StanleyTherese
Title:Manager-Grants Compliance,Grants Management Office
Date: 6/20/2016 9:48:17 AM
Name: CasalanguidaNick
Title:Deputy County Manager,County Managers Office
Date: 6/20/2016 3:26:22 PM
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6/28/2016 16.D.3.
Prepared by:Wendy Klopf
Collier County
Community and Human Services
3339 E.Tamiami Trail
Naples,FL 34112
THIS SPACE FOR RECORDING
SATISFACTION OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is
3299 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain
Mortgage executed by Amaury Amador Pedrera and Yanay Amador to COLLIER COUNTY, recorded
on 03/13/2013 In Official Records Book 4895 ,Page 3632, of the Public Records of
Collier County,Florida,securing a principal sum of$20,000.00 and certain promises and
obligations set forth in said Mortgage,upon the property described in the aforementioned mortgage.
COLLIER COUNTY hereby acknowledges full payment and satisfaction of said Mortgage, and
surrenders the same as cancelled, and hereby directs the Clerk of said Circuit Court to cancel the same of
record.
This Satisfaction of Mortgage was approved by the Board of County Commissioners on
,2016,Agenda Item Number
ATTEST: BOARD OF COUNTY COMMISSIONERS
DWIGHT E.BROCK,CLERK OF COLLIER COUNTY,FLORIDA
By: By:
,DEPUTY CLERK Chairman Donna Fiala,District 1 Commissioner
Approval for form and legality:
Jennifer A.Belpedio
Assistant County Attorney ?
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6/28/2016 16.D.3.
Prepared by:Wendy Klopf
Collier County
Community and Human Services
3339 E.Tamiami Trail
Naples,FL 34112
THIS SPACE FOR RECORDING
SATISFACTION OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS: That COLLIER COUNTY, whose post office address is
3299 E TAMIAMI TRAIL, NAPLES, FLORIDA 34112, the owner(s) and holder(s) of a certain
Mortgage executed by Laurie J.Schaeffer to COLLIER COUNTY, recorded
on 10/29/2012 In Official Records Book 4849 ,Page 3305 , of the Public Records of
Collier County, Florida,securing a principal sum of$19,400.00 and certain promises and
obligations set forth in said Mortgage,upon the property described in the aforementioned mortgage.
COLLIER COUNTY hereby acknowledges full payment and satisfaction of said Mortgage, and
surrenders the same as cancelled, and hereby directs the Clerk of said Circuit Court to cancel the same of
record.
This Satisfaction of Mortgage was approved by the Board of County Commissioners on
,2016,Agenda Item Number
ATTEST: BOARD OF COUNTY COMMISSIONERS
DWIGHT E.BROCK,CLERK OF COLLIER COUNTY,FLORIDA
By: By:
DEPUTY CLERK Chairman Donna Fiala,District 1 Commissioner
Approval for form and legality:
Jennifer A.Belpedio t(f
Assistant County Attorney co, �
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INSTR 4810861 OR 4895 PG 3632 RECORDED 3/13/2013 3:33 PM PAGES 5
DWIGHT E. BROCK, CLERK OF THE CIRCUIT COURT, COLLIER COUNTY FLORIDA 6/28/2016 16.D.3.
DOC@.35 $70.00 REC $44.00
OBLD $20,000.00
STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM
SECOND MORTGAGE
THIS SECOND MORTGAGE("Security Instrument")is given on day of ,2013. The Second Mortgagor is:
Amaury Amador Pedrera and Yanay Amador,a married couple
("Borrower'). This Security Instrument is given to Collier County SHIP TRUST FUND ("Lender"),which is
organized and existing under the laws of the United States of America,and whose address is 3339 E. Tamiami Trail, Naples,
Florida 34112. Borrower owes Lender the sum of Twenty Thousand and 00/100 Dollars (S20,000.00). This debt is
evidenced by Borrower's Note dated the same date as this Security Instrument("Second Mortgage"),which does not provide for monthly
payments.The full debt,if not paid earlier,is due upon sale of the property within the fifteen year term.If sold after the fifteen year term,no
repayment is required.As long as the borrower continues to own and occupy the assisted property during the term of the mortgage,then the
loan will not have to be repaid.
This Security Instrument secures to Lender.(a)the repayment of the debt evidenced by the Note,with interest,and all renewals,extensions
and modifications;(b)the payment of all other sums,with interest advanced under paragraph 7 to protect the security of the Security
Instrument;and(c)the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose,
Borrower does hereby second mortgage,grant and convey to Lender the following described property located in Collier County,Florida.
As more particularly described as Golden Gate Unit 3 BIk 93 Lot 1,of the Public Records of Collier County,Florida and which has the
address of:
("Property Address"): 4675 30th P1 SW Naples FL 34116
(Address) (City) (State) (Zip)
TOGETHER WITH all the improvements now or hereafter erected on the property,and all easements,rights,appurtenances,rents,
royalties,mineral,oil and gas rights and profits,water rights and-d i andkathfixtures now or hereafter a part of the property. All replacements
and additions shall also be covered by the Security Instru�Q t. h hLfoE tefered to in this Security Instrument as the"Property".
BORROWER COVENANTS that Borrower isd" iltieiz€d of-the'es i etsy conveyed and has the right to mortgage,grant and
convey the Property and that the Property is unencur be d except for encumbran dfrepord. Borrower warrants and will defend generally
the title to the Property against all claims and deredsl) ubject to any encumbrances"iif rec�b{d.
THIS SECURITY INSTRUMENT comb) urs fom,zovenants for national used nbn-uniform covenants with limited variation by
jurisdiction to constitute a uniform security instrttment`cove'Ning.r4al pro�pperty. :`
UNIFORM COVENANTS. Borrowerand nd r covenant-and gree a,follows:
1. Payment of Principal and Interest;Perp y t ari� e gk rr�0ier shall promptly pay when due the principal of and
interest on the debt evidenced by the Note. j l( r , i I.
2. Taxes. The Mortgagor will pay a I(fix se a is s ,r nts or vfater ra(es,,,�for to the accrual of any penalties or interest
thereon. — G ,I
The Mortgagor shall pay or cause to is pa d,as the same respecti become d e t(1)all taxes and governmental charges of any
kind whatsoever which may at any time be la t(tty essed or levied against Piwith�es the Property,(2)all utility and other charges,
including"service charges",incurred or imposed of, operation,maintenanciliige jo ipg cy,upkeep and improvement of the Property,and
(3)all assessments or other governmental charge IQ nyay lawfully be paid in ins fCCC3333HHHH ef$s'over a period of years,the Mortgagor shall be
obligated under the Mortgage to pay or cause to be i�"�n`ly,puch installments as 4equired to be paid during the term of the Mortgage,and
shall,promptly after the payment of any of the foregoi gIrkward-to-MortgageLl-viterkobf such payment.
3. Application of Payments. Unless applicable-14pctrdes,otfieNse,atrpayments received by Lender shall be applied;first,to
interest due;and,to principal due;and last,to any late charges ve-uuadd t lite.
4. Charges;Liens. Borrower shall pay all taxes,assessments,charges,fines and impositions attributable to the Property which may
attain priority over this Security Instrument,and leasehold payments or ground rents,if any. Borrower shall promptly furnish to Lender all
notices of amounts to be paid under this paragraph,and all receipts evidencing the payments.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in writing to
the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien by,or defends against
enforcement of the lien in,legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien;or(c)secures from
the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
of the Property is subject to a lien which may attain priority over the Security Instrument,Lender may give Borrower a notice identifying the lien.
Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire,hazards included within the term"extended coverage"and any other hazards,including floods or flooding,for which Lender
requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier
providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to
maintain coverage described above,Lender may,at Lender's option,obtain coverage to protect Lender's rights in the Property in accordance
with paragraph 7. At all times that the Note is outstanding,the Mortgagor shall maintain insurance with respect to the Premises against such
risks and for such amounts as are customarily insured against and pay,as the same become due and payable,all premiums in respect thereto,
including,but not limited to,all-risk insurance protecting the interests of the Mortgagor and Mortgagee against loss or damage to the Premises
by fire,lightning,and other casualties customarily insured against(including boiler explosion,if appropriate),with a uniform standard extended
coverage endorsement,including debris removal coverage. Such insurance at all times to be in an amount not less than the full replacement
cost of the Premises,exclusive of footings and foundations.
All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have
the right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal
notices. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made
promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the Property
damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not
economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums secured by the Security
Instrument,whether or not then due,with any excess paid to Borrower. If Borrower abandons the Property,or does not answer within 30 days
a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may collect the insurance proceeds. Lender may use
the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument,whether or not then due. The 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
/...-0 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 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
Borrowers control. Borrower shall not destroy,damage or impair the Property,allow the Property to deteriorate,or commit waste on the
Property. Borrower shall be in default if any forfeiture r"---------'"-- —`-''--- m criminal,is begun that in Lender's good faith
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•
judgment could result in forfeiture of the Property or otherwise materially impair the lien created by.this Security Instrument or Lenders security
interest. Borrower may cure such a default and reinstate,as provided in paragraph 18,by.causing the action or proceeding to be dismissed
with a ruling that,in Lenders good faith determination,precludes forfeiture of the Borrowers interest in the Property or other material
impairment of the lien created by this Security Instrument or Lenders security interest. Borrower shall also be in default if Borrower,during the
loan application process,gave materially false or inaccurate information or statements to Lender(or failed to provide Lender with any material
information)in connection with the loan evidenced by the Note,including,but not limited to,representations concerning Borrowers occupancy
of the Property as a principal residence. If this Security Instrument is on a leasehold,Borrower shall comply with all the provision of the lease.
If Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
7. Protection of Lender's Rights In the Property. If Borrower fails to perform the covenants and agreements contained in this
Security Instrument,or there is a legal proceeding that may significantly affect Lenders 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 Lenders rights in the Property. Lenders 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,ata cost substantially equivalent to the cost to Borrower of the mortgage insurance
previously in effect,from an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not
available,Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being paid by
Borrower when the insurance coverage lapsed or ceased to be in effect. Lender will accept,use and retain these payments as a loss reserve
in lieu of mortgage insurance. Loss reserve payments may no longer be required,at the option of Lender,if mortgage insurance coverage(in
the amount and for the period that Lender requires)provided by an insurer approved by Lender again becomes available and is obtained.
Borrower shall pay the premiums required to maintain mortgage insurance in effect,or to provide a loss reserve,until the requirement for
mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law.
9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower
notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
10. Condemnation. The proceeds of any award or claim for damages,direct or consequential,in connection with any condemnation
or other taking of any part of the Property,or for conveyance in lieu of condemnation,are hereby assigned and shall be paid to Lender. In the
event of a total taking of the Property,the proceeds shall be applfed.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 tam J1 e n hich the fair market value of the Property immediately
before the taking is equal to or greater than the amou�¢h tat3 s-secnu .� , t�i'etrrity Instrument immediately before the taking,unless
Borrower and Lender otherwise agree in writing,the ttm ' ured by this Secu ntttpitttent shall be reduced by the amount of the proceeds
multiplied by the following fraction:(a)the total a uttL9flhe sums secured immediatttyrhef re the taking,divided by(b)the fair market value
of the Property immediately before the taking. A y bald tLbe paid to Borrower.In,the�vent of a partial taking of the Property in which
the fair market value of the Property immediately befgre t asking�iessthann:the amou tof the sums secured immediately for the taking,
unless Borrower and Lender otherwise agree i'i writing or unless pppltcable law dtherwise krovii(es,the proceeds shall be applied to the sums
secured by this Security Instrument whether or not the'Smts , a � � nd Bprrower otherwise agree in writing,any
application of proceeds to principal shall not en fur poste) ne h d a. f i m•pt$ly�,payments referred to in paragraphs 1 or change �\
the amount of such payments.
11. Borrower Not Released,Forb a ar�Bv. e q,a V E ennton)ofth time for payment or modification of
amortization of the sums secured by this Sec uity-t strument granted by Len`derr to an su o in interest of Borrower shall not operate to
release the liability of the original Borrower or QarrQ successors in intere�en er �it be required to commence proceedings
against any successor in interest or refuse to e:2ta ' e for payment or othe t bdi rtization of the sums secured by this Security
Instrument by reason of any demand made by th blink Borrower or Borrower's §3o in interest. Any forbearance by Lender in
exercising any right or remedy shall not be a waive r- r elude the exercise of ,<gh r remedy.
12. Successors and Assigns Bound;Jo to'S veLai Liability -S n"ers. The covenants and agreements of this Security
Instrument shall bind and benefit the successors and as iy�ns n B rrroro r;subject to the
Provisions of paragraph 17. Borrowers covenants and agree �shalLb t-and several. Any Borrower who co-signs this Security
Instrument but does not execute the Note;(a)is co-signing this Secun y nstrument only to mortgage,grant and convey that Borrowers 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 Borrowers consent.
13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges,and that
law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted
limits,then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;and(b)any sums
already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by
reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal,the reduction will be
treated as a partial prepayment without any prepayment charge under the Note.
14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first
class mail unless applicable law required use of another method. The notice shall be directed to the Property Address or any other address
Borrower designates by notice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph.
15. Governing Law;Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which
the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law,such
conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To
this end the provisions of this Security Instrument and the Note are declared to be severable.
16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or
transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)without Lenders prior written
consent,Lender may,at its option,require immediate payment in full of all sums secured by this Security Instrument. However,this option shall
not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument
If Lender exercised this option,Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days
from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to
pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further
notice or demand on Borrower.
18. Borrower's Right to Reinstate. If Borrower meets certain conditions,Borrower shall have the right to have enforcement of this
Security Instrument discontinued at any time prior to the earlier of:(a)5 days(or such other period as applicable law may specify for
reinstatement)before sale of the Property pursuant to any power of sale contained in this Security Instrument;or(b)entry of a judgment
enforcing this Security Instrument. Those conditions are that Borrower.(a)pays Lender all sums which then would be due under this Security
Instrument and the Note as if no acceleration had occurred;(b)cures and default of any other covenants or agreements;(c)pays all expenses
incurred in enforcing this Security Instrument,including,but not limited to,reasonable attorney's fees;and(d)takes such action as Lender may
reasonably require to assure that the lien of this Security Instrument,Lenders rights in the Property and Borrower's obligation to pay the sums
secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower,this Security Instrument and the obligations
secured hereby shall remain fully effective as if no acceleration had occurred. However,this right to reinstate shall not apply in the case of
acceleration under paragraph 17.
19. Sale of Note;Change of Loan Servicer. The Note or a partial interest in the Note(together with this Security Instrument)may
be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity(known as the"Loan Servicer)that
collects monthly payments due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer
unrelated to a sale of the Note. If there is a change of.ho I,, n coni^o, nnr.,,,.,,r,.an he given written notice of the change in accordance with
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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 appropriate to normal residential uses and to maintenance of the Property.
Borrower shall promptly give Lender written notice for any investigation,claim,demand,lawsuit or other action by any governmental or
regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual
knowledge. If Borrower learns,or is notified by any governmental or regulatory authority,that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary,Borrower shall promptly take all necessary remedial actions in accordance with
Environmental Law.
As used in this paragraph 20,"Hazardous Substances"are those substances defined as toxic or hazardous substances by Environmental Law
and the following substances: gasoline,kerosene,other flammable or toxic petroleum products,toxic pesticides and herbicides,volatile
solvents,materials containing asbestos or formaldehyde,and
radioactive materials. As used in this paragraph 20,"Environmental Law"means federal laws and laws of the jurisdiction where the Property is
located that relate to health,safety or environmental protection.
21. Acceleration;Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant
or agreement in this Security Instrument(but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The
notice shall specify: (a)the default;(b)the action required to cure the default;(c)a date,not less than 30 days from the date the notice is given
to Borrower,by which the default must be cured;and(d)that failure to cure the default on or before the date specified in the notice may result
in acceleration of the sums secured by this Security Instrument,foreclosure by judicial proceeding and sale of the Property. The notice shall
further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a
default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice,
Lender,at its option,may require immediate payment in full of all sums secured by this Security Instrument without further demand and may
foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies
provided in this paragraph 21,including,but not limited to,reasonable attorney's fees and costs of the title evidence.
22. Release. Upon payment of all sums secured by this Security Instrument,Lender shall release this Security Instrument,without
charge,to Borrower. Borrower shall pay any recordation costs.
23. Attorneys'Fees. As used in this Security Instrument and the Note,"attorneys'fees"shall include any attorneys'fees awarded by
an appellate court.
24. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security
Instrument,the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and
agreements of this Security Instrument as if the rider(s)were a
pgri.of-this-SeciLrity Instrument. (Check Applicable Box)
AdjustableEI Im rove �n(Ri OZ. COO,
❑ Rate Rider p f b ®Condominium Rider
❑Graduated Payment Rider ❑1-4 Fam1ytpeu econd Home Rider
❑Balloon Rider ❑Biweekly Pa7ment RiderPla ned Unit Development Rider
❑Other(s)(specify /
SIGNING BELOW,Borrower accepts and agr res td'h-to a'd cpv nt o'a e ts S- urity Inst ent and in any rider(s)executed
by Borrower and recorded with it. �
1 f ,�
Signed,sealed and delivered jn t res�"y�e a{� 1
Witness#1: J '7 \ St
I tu :/
1q `' \ f BorroW= A '.�r Amador Pedrera
Signet e: .1 �� � /)
Witness#2:r r �--_-� �1 nature: AV
Co-Borrower Yank Amador
Signature:
Address: 4675 30`h PI SW
Naples,FL 34116
STATE OF FLORIDA
COUNTY OF COLLIER
I hereby certify that on this day, Amaury Amador Pedrera and Yanay Amador before me,an officer duly
authorized in the state aforesaid and in the county aforesaid to take acknowledgements,personally appeared to me known to be the person(s)
described in and who executed the foregoing instrument and acknowledged before me that(He/she/they)executed the same for the purpose
therein expressed. /' pp,
WITNESS my hand and official seal in the County and State afar- this Lb day of {C(\ 204.*
My Commission Expires: /'1II � t .N 4 .
Nbtaryublic's •nature
(Seal) i
Notary's Printed Jessica
+yr•4F Notary Public State of Florida
Jessica Murphy
n04 Expires 0621//2o0DD990J3614 SHIP File#: 11-090
SHIP Purchase Assistance Program
Collier County Housing,Human&Veterans Department
3339 E.Tamiami Trail,Bldg H,Suite 211,Naples,FL 34112
Revised:10/2012
Packet Page -1065-
OR 4895 PG 3635
6/28/2016 16.D.3.
STATE HOUSING INITIATIVES PARTNERSHIP .(SHIP) PROGRAM
PROMISSORY NOTE'
Date: February 22, 2013
Borrower: Amaury Amador Pedrera and Yanay Amador
4675 30e Pl SW Naples FL 34116
(Property Address) (City) (State) (Zip)
1. BORROWER(S) PROMISE TO PAY: I/We promise to pay Twenty Thousand and 00/100 Dollars
($20,000.00) (this amount will be called "principal") to the order of Collier
County SHIP TRUST FUND or to any other holder of this Note (the "Lender"), whose
address is 3339 E. Tamiami Trail, Naples, Florida 34112. I/We understand that the
Lender may transfer the Promissory Note. The Lender or anyone who takes this Note
by transfer and who is entitled to receive payments under this Note will be called
the "Note Holder".
2. INTEREST: Interest on this Note shall be zero percent (0%) per annum; except that
if I/We fail to pay this Note as required, 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: Payment in full is due upon sale of property within the fifteen year
deferred payment loan. If sold after the fifteen year term, no repayment is
required. As long as the borrower continues to own and occupy the assisted property
during the term of the mortgage, then the loan will not have to be repaid. My/Our
total payment shall be U.S. $20,000 ..
4. BORROWER'S RIGHT TO PREPAY* I -( R C w /
jjW@ -i,•i� to make payments of principal at
any time before they a -0. -. A payme principal only is known as a
"prepayment". When I/ a .. e a prepayment, we will tell the Note Holder in
writing that I/we am do ng -o
I/We may make a full re ayment o, ial,,c-\
epaym_nt\harge. The Note Holder will
use all of my preps en •.e' - 7 the principal that I owe under i�
this Note. If I/We k pa p e e w'll be no changes in the due
date or in the amount ¢�f me; p-` un . to 'ote Holder agrees in writing
to those changes. I (.1 .'" e pr--.!!. there will be no prepayment
penalty adhering to o•Ca .ociated with suet •re•.ym
5. LOAN CHARGES: If a 1.4; hich applies t. `.h• 1.►: and which sets maximum loan
charges, is finally inte .r- -d so that the in -r--, ' or other loan charges collected
or to be collected in co 0, . with this the permitted limits; then
(i) any such loan charges h, e. he amount necessary to reduce the
charges to the permitted lima = IC CI . sums already collected from me which
exceeded permitted limits will be . .-. to me/us. The Note Holder may choose to
make this refund by reducing the principal that I/We owe under this Note or by
making a direct payment to me/us. If a refund reduces principal, the reduction will
be treated as a partial prepayment.
6. SUBORDINATION: Lender and Borrower acknowledge and agree that this Security
Instrument is subject and subordinate in all respects to the liens, terms, covenants
and conditions of the First Deed of Trust and to all advances heretofore made or
which may hereafter be made pursuant to the First Deed of Trust including all sums
advanced for the purpose of (a) protecting or further securing the lien of the First
Deed of Trust, curing defaults by the Borrower under the First Deed of Trust or for
any other purpose expressly permitted by the First Deed of Trust or (b)
constructing, renovating, repairing, furnishing, fixturing or equipping the
Property. The terms and provisions of the First Deed of Trust are paramount and
controlling, and they supersede any other terms and provisions hereof in conflict
therewith. In the event of a foreclosure or deed in lieu of foreclosure of the
First Deed of Trust, any provisions herein or any provisions in any other collateral
agreement restricting the use of the Property to low or moderate income households
or otherwise restricting the Borrower's ability to sell the Property shall have no
further force or effect on subsequent owners or purchasers of the Property. Any
person, including his successors or assigns (other than the Borrower or a related
entity of the Borrower), receiving title to the Property through a foreclosure or
deed in lieu of foreclosure of the First Deed of Trust shall receive title to the
Property free and clear from such restrictions.
Further, if the Senior Lien Holder acquires title to the Property pursuant to a deed
in lieu of foreclosure, the lien of this Security Instrument shall automatically
terminate upon the Senior Lien Holder's acquisition of title, provided that (i) the
Lender has been given written notice of a default under the First Deed of Trust and
(ii) the Lender shall not have cured the default under the First Deed of Trust
within the 30-day period provided in such notice sent to the Lender.
7. BORROWER(S) FAILURE TO PAY AS REQUESTED:
(A) Default
I .
Packet Page -1066-
*** OR 4895 PG 3636 ***
6/28/2016 16.D.3.
If I/we do not pay the full amount as required in Section 3 above, I/we will be in
default. If I am in default, the Note Holder may,bring about any actions not
prohibited by applicable law and require me/us .to pay the Note Holder's cost and
expenses as described in (B) below.
(B) Payment of Note Holder's Cost and Expenses
If the Note Holder takes such actions as described above, the Note Holder will have
the right to be paid back for all of its costs and expenses, including, but not
limited to, reasonable attorneys' fees.
8. GIVING OF NOTICES: Unless applicable law required a different method, any notice
that must be given to me/us under the Note will be given by delivering it or by
mailing it by first class mail to me at the Property Address on Page 1 or at a
different address if I/we give the Note Holder a notice of my/our different address.
Any notice that must be given to the Note Holder 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 amount owed. Any person who is a
guarantor, surety or endorser of this Note is also obligated to do these things.
Any person who takes over these obligations, including the obligations of a
guarantor, surety or endorser of this Note, is also obligated to keep all of the
promises made in this Note. The Note Holder may enforce its rights under this Note
against each person individually or against all of us together. This means that any
one of us may be required to pay all of the amounts owed under this Note.
10. WAIVERS: I and any other person who has obligations under this Note waive the
rights of presentment and notice of dishonor. "Presentment" means the right to
require the Note Holder to demand payment of amounts due. "Notice of Dishonor"
means the right to require the N. - -• 'er to give notice to other persons that
amounts due have not been pai. � R CQ pr("Ai?,
11. UNIFORM SECURED NOTE: T is a unifo - ument with limited variations in
some jurisdictions. I ion to the prote on given to the Note Holder under
this Note, a Mortgage, Dee. . st or Securit. De=d (the "Security Instrument"),
dated the same date :s i - --te, pr. -.t, the ot= Holder from possible losses
which might result i; I/ e do no, - ' the .romis-s hich I/we make in this Note.
That Security Instr e —4 4 at conditions I/we may be
r ` required to make imm:di• pa / a ou is I/we owe under this Note.
Some of those condit''?s `folly :
Transfer of the Prop-. or a Beneficial ter:st ' orrower. If all or any part
of the property or ajaHterest in it i- k:'1' o nsferred (or if a beneficial
interest in Borrower i d or transferr-. ower is not a natural person)
without Lender's prior = consent, Lender t its option, require immediate
payment in full or all -cured by t ' rity Instrument. However, this
option shall not be exerci :b' --- '� j, se is prohibited by federal law as
of the date of this Security -tgn��.
If Lender exercises this option, Lender shall give Borrower notice of acceleration.
The notice shall provide a period of not less than thirty (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(s) fail 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.
Notwithstanding the above, the Lender's rights to collect and apply the insurance
proceeds hereunder shall be subject and subordinate to the rights of the Senior Lien
Holder to collect and apply such proceeds in accordance with the First Deed of
Trust.
12. This note is governed nd construed in accordance with the Laws of the State of
Florida.
WITNESS THE HAND( ) (S) OF THE UNDERSIGNED.
�-' (Seal)
Borrower Ada(fury Amador Pedrera •
rt
(Seal)
Borrower Yana Amador
RETURN TO: Collier County Housing, Human and Veteran Services Department
SHIP PURCHASE ASSISTANCE PROGRAM
3339 E. Tamiami Trail, Building H, Suite 211
Naples, Florida 34112
SHIP File#: 11-090
Revised 10/2012
2
Packet Page -1067-
INSTR 4756746 OR 4849 PG 3305 RECORDED 10/29/2012 1:50 PM PAGES 5
DWIGHT E. BROCK, CLERK OF THE CIRCUIT COURT, COLLIER COUNTY FLORIDA 6/28/2016 16.D.3.
DOC@.35 $67.90 REC $44.00
OBLD $19,400.00
/I
A
�
� STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM
� SECOND MORTGAGE
THIS SECOND MORTGAGE('Security Instrument")is given on day of ,2012. The Second Mortgagor is:
Laurie J. Schaeffer, a single person
('Borrower"). This Security Instrument is given to Collier County SHIP TRUST FUND ("Lender"),which is
organized and existing under the laws of the United States of America,and whose address is 3339 E. Tamiami Trail, Naples,
Florida 34112. Borrower owes Lender the sum of Nineteen Thousand Four Hundred and 00/100 Dollars
($19,400.00). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument('Second Mortgage"),which
does not provide for monthly payments.The full debt,if not paid earlier,is due upon sale of the property within the fifteen year term.If sold
after the fifteen year term,no repayment is required.As long as the borrower continues to own and occupy the assisted property during the
term of the mortgage,then the loan will not have to be repaid.
This Security Instrument secures to Lender.(a)the repayment of the debt evidenced by the Note,with interest,and all renewals,extensions
and modifications;(b)the payment of all other sums,with interest advanced under paragraph 7 to protect the security of the Security
Instrument;and(c)the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose,
Borrower does hereby second mortgage,grant and convey to Lender the following described property located in Collier County,Florida.
As more particularly described as Golden Gate Est Unit 15 S 75ft of N 180 ft of Tr 93,of the Public Records of Collier County,Florida and
which has the address of:
("Property Address"): 1420 27th St SW Naples FL 34117
(Address) (City) (State) (Zip)
TOGETHER WITH all the improvements now or hereafter erected on the property,and all easements,rights,appurtenances,rents,
royalties,mineral,oil and gas rights and profits,water rights and stoek-and alLfigxrtures now or hereafter a part of the property. All replacements
and additions shall also be covered by the Security Inst h- iii etf rg-is�eferred to in this Security Instrument as the"Property".
BORROWER COVENANTS that Borrower is ul a er conveyed and has the right to mortgage,grant and
convey the Property and that the Property is unencu r�r .except for encumbran cord. Borrower warrants and will defend generally
the title to the Property against all claims and demah ufiject to any encumbranceec�rd.
THIS SECURITY INSTRUMENT combir(es u ormcovenants for national use nd n'on-uniform covenants with limited variation by
jurisdiction to constitute a uniform security instnjrnenj,tov'9 og,real Property:-,t"1 \ \
UNIFORM COVENANTS. Borrower and Lender covenant a gree as'follows: } l
1. Payment of Principal and Interest;Pt p3- nt• t rfsWer shall promptly pay when due the principal of and
interest on the debt evidenced bythe Note. f ( l f I '! �\
2. Taxes. The Mortgagor will pay all taxa ,asses tme ts,se r r tilts or Wat (rates prior to the accrual of any penalties or interest
thereon. ('� ! � -
The Mortgagor shall pay or cause to egad,as the same respectively,beco a dueRA(1)all taxes and governmental charges of any
kind whatsoever which may at any time be la i essed or levied againsto with asp`ct;10 he Property,(2)all utility and other charges,
including"service charges",incurred or impose or'(hh operation,maintenance45 o,Pc ip`3�r ,upkeep and improvement of the Property,and
(3)all assessments or other governmental charge tt'j88t may lawfully be paid in insfblirpenEs;o er a period of years,the Mortgagor shall be
obligated under the Mortgage to pay or cause to be 'ei i such installments as r r tyv d to be paid during the term of the Mortgage,and
shall,promptly after the payment of any of the foregoi a Mortga „uferice,o1 such payment.
3. Application of Payments. Unless plicab e..awp o idesfothe''ee,ail�ayments received by Lender shall be applied;first,to
interest due;and,to principal due;and last,to anylate charge idnder-t ote.
4. Charges;Liens. Borrower shall pay all taxes,assessments,charges,fines and impositions attributable to the Property which may
attain priority over this Security Instrument,and leasehold payments or ground rents,if any. Borrower shall promptly furnish to Lender all
notices of amounts to be paid under this paragraph,and all receipts evidencing the payments.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower.(a)agrees in writing to
the payment of the obligation secured by the lien in a manner acceptable to Lender,(b)contests in good faith the lien by,or defends against
enforcement of the lien in,legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien;or(c)secures from
the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
of the Property is subject to a lien which may attain priority over the Security Instrument,Lender may give Borrower a notice identifying the lien.
Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire,hazards included within the term"extended coverage"and any other hazards,including floods or flooding,for which Lender
requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier
providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to
maintain coverage described above,Lender may,at Lender's option,obtain coverage to protect Lender's rights in the Property in accordance
with paragraph 7. At all times that the Note is outstanding,the Mortgagor shall maintain insurance with respect to the Premises against such
risks and for such amounts as are customarily insured against and pay,as the same become due and payable,all premiums in respect thereto,
including,but not limited to,all-risk insurance protecting the interests of the Mortgagor and Mortgagee against loss or damage to the Premises
by fire,lightning,and other casualties customarily insured against(including boiler explosion,if appropriate),with a uniform standard extended
coverage endorsement,including debris removal coverage. Such insurance at all times to be in an amount not less than the full replacement
cost of the Premises,exclusive of footings and foundations.
All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have
the right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal
notices. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made
promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the Property
damaged,if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not
economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums secured by the Security
Instrument,whether or not then due,with any excess paid to Borrower. If Borrower abandons the Property,or does not answer within 30 days
a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may collect the insurance proceeds. Lender may use
the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument,whether or not then due. The 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,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 at least one year after the date of occupancy,unless Lender
otherwise agrees in writing,which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which are beyond
Borrower's control. Borrower shall not destroy,damage or impair the Property,allow the Property to deteriorate,or commit waste on the
Property. Borrower shall be in default if any forfeiture a'tinn„r n,,,,,"Add,,,, ,,,hafti,,,,.r,,ii nr criminal,is begun that in Lender's good faith
Packet Page -1068-
OR 4849 PG 3306
6/28/2016 16.D.3.
judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security
interest. Borrower may cure such a default and reinstate,as provided in paragraph 18,by causing the action or proceeding to be dismissed
with a ruling that,in Lender's good faith determination,precludes forfeiture of the Borrower's interest in the Property or other material
impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if Borrower,during the
loan application process,gave materially false or inaccurate information or statements to Lender(or failed to provide Lender with any material
information)in connection with the loan evidenced by the Note,including,but not limited to,representations concerning Borower's occupancy
of the Property as a principal residence. If this Security Instrument is on a leasehold,Borrower shall comply with all the provision of the lease.
If Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this
Security Instrument,or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a proceeding in
bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and pay for whatever is necessary to
protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which
has priority over this Security Instrument,appearing in court,paying reasonable attorneys'fees and entering on the Property to make repairs.
Although Lender may take action under this paragraph 7,Lender does not have to do so. Any amounts disbursed by Lender under this
paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms
of payment,these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable,with interest,upon notice
from Lender to Borrower requesting payment.
8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
Instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If,for any reason,the mortgage insurance
coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to obtain coverage substantially
equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the cost to Borrower of the mortgage insurance
previously in effect,from an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not
available,Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being paid by
Borrower when the insurance coverage lapsed or ceased to be in effect. Lender will accept,use and retain these payments as a loss reserve
in lieu of mortgage insurance. Loss reserve payments may no longer be required,at the option of Lender,if mortgage insurance coverage(in
the amount and for the period that Lender requires)provided by an insurer approved by Lender again becomes available and is obtained.
Borrower shall pay the premiums required to maintain mortgage insurance in effect,or to provide a loss reserve,until the requirement for
mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law.
9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower
notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
10. Condemnation. The proceeds of any award or claim for damages,direct or consequential,in connection with any condemnation
or other taking of any part of the Property,or for conveyance in lieu of condemnation,are hereby assigned and shall be paid to Lender. In the
event of a total taking of the Property,the proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,
with any excess paid to Borrower. In the event of a partial tok Pro igwhich the fair market value of the Property immediately
before the taking is equal to or greater than the amountpf-th$qs r cr re this-Sflcurity Instrument immediately before the taking,unless
Borrower and Lender otherwise agree in writing,the s 'yec°dree9-by this Se`curdy11m4t bgrent shall be reduced by the amount of the proceeds
multiplied by the following fraction:(a)the total amnentbf Ii sums secured immedtalei,b (ore the taking,divided by(b)the fair market value
of the Property immediately before the taking. A it ba"l8irce shall be paid to Borrower. the"event of a partial taking of the Property in which
the fair market value of the Property immediately before the taking i than.the amou of the sums secured immediately for the taking,
unless Borrower and Lender otherwise agree in writing orltmtess2ppli. ble la otherwise rovides,the proceeds shall be applied to the sums
secured by this Security Instrument whether or'not the,,ucmm ar di( I rnlesU.Leq nd Borrower otherwise agree in writing,any
application of proceeds to principal shall not ezten 'r,dr lbstp e d d Oofti9\mm@n y\payn ents referred to in paragraphs 1 or change
the amount of such payments. ( j ) _-' ' 4
11. Borrower Not Released,Forbe By- e N t a a er. E n ion lof.,t11,1 time for payment or modification of
amortization of the sums secured by this Sec* st melt g ed't r to cce f in interest of Borrower shall not operate to
release the liability of the original Borrower or Boro er's successors in interelk Lender shall- I be required to commence proceedings
against any successor in interest or refuse to ete0,'me for payment or other ''e.mddif/'+� ization of the sums secured by this Security
Instrument by reason of any demand made by the`d ginal Borrower or Borower s'euccessor3 n interest. Any forbearance by Lender in
exercising any right or remedy shall not be a waivecdf'or eclude the exercise of an.-tighL9f remedy.
12. Successors and Assigns Bound;Jo''in,Iaj veral Liability; i iter".. The covenants and agreements of this Security
Instrument shall bind and benefit the successors and ahsi nsf,. der-and-_opob,,er;,:s6bject to the
Provisions of paragraph 17. Borrower's covenants and agr is a(f 6',intend several. Any Borrower who co-signs this Security
Instrument but does not execute the Note;(a)is co-signing this 1y-festal—tient 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 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 law and the law of the jurisdiction in which
the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law,such
conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To
this end the provisions of this Security Instrument and the Note are declared to be severable.
16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or
transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)without Lender's prior written
consent,Lender may,at its option,require immediate payment in full of all sums secured by this Security Instrument. However,this option shall
not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument.
If Lender exercised this option,Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days
from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to
pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further
notice or demand on Borrower.
18. Borrower's Right to Reinstate. If Borrower meets certain conditions,Borrower shall have the right to have enforcement of this
Security Instrument discontinued at any time prior to the earlier of:(a)5 days(or such other period as applicable law may specify for
reinstatement)before sale of the Property pursuant to any power of sale contained in this Security Instrument;or(b)entry of a judgment
enforcing this Security Instrument. Those conditions are that Borrower.(a)pays Lender all sums which then would be due under this Security
Instrument and the Note as if no acceleration had occurred;(b)cures and default of any other covenants or agreements;(c)pays all expenses
incurred in enforcing this Security Instrument,including,but not limited to,reasonable attorney's fees;and(d)takes such action as Lender may
reasonably require to assure that the lien of this Security Instrument,Lender's rights in the Property and Borrower's obligation to pay the sums
secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower,this Security Instrument and the obligations
secured hereby shall remain fully effective as if no acceleration had occurred. However,this right to reinstate shall not apply in the case of
acceleration under paragraph 17.
19. Sale of Note;Change of Loan Servicer. The Note or a partial interest in the Note(together with this Security Instrument)may
be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity(known as the"Loan Servicer")that
collects monthly payments due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer
unrelated to a sale of the Note. If there is a change of the Loan Servicer,Borrower will be given written notice of the change in accordance with
Packet Page -1069-
OR 4849 PG 3307
6/28/2016 16.D.3.
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 appropriate to normal residential uses and to maintenance of the Property.
Borrower shall promptly give Lender written notice for any investigation,claim,demand,lawsuit or other action by any governmental or
regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual
knowledge. If Borrower learns,or is notified by any governmental or regulatory authority,that any removal or other remediation of any
Hazardous Substance affecting the Property is necessary,Borrower shall promptly take all necessary remedial actions in accordance with
Environmental Law.
As used in this paragraph 20,"Hazardous Substances"are those substances defined as toxic or hazardous substances by Environmental Law
and the following substances: gasoline,kerosene,other flammable or toxic petroleum products,toxic pesticides and herbicides,volatile
solvents,materials containing asbestos or formaldehyde,and
radioactive materials. As used in this paragraph 20,"Environmental Law"means federal laws and laws of the jurisdiction where the Property is
located that relate to health,safety or environmental protection.
21. Acceleration;Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant
or agreement in this Security Instrument(but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The
notice shall specify: (a)the default;(b)the action required to cure the default;(c)a date,not less than 30 days from the date the notice is given
to Borrower,by which the default must be cured;and(d)that failure to cure the default on or before the date specified in the notice may result
in acceleration of the sums secured by this Security Instrument,foreclosure by judicial proceeding and sale of the Property. The notice shall
further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a
default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice,
Lender,at its option,may require immediate payment in full of all sums secured by this Security Instrument without further demand and may
foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies
provided in this paragraph 21,including,but not limited to,reasonable attorney's fees and costs of the title evidence.
22. Release. Upon payment of all sums secured by this Security Instrument,Lender shall release this Security Instrument,without
charge,to Borrower. Borrower shall pay any recordation costs.
23. Attorneys'Fees. As used in this Security Instrument and the Note,"attorneys'fees"shall include any attorneys'fees awarded by
an appellate court.
24. Riders to this Security Instrument If one or more riders are executed by Borrower and recorded together with this Security
Instrument,the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and
agreements of this Security Instrument as if the rider(s)were a part of this Security Instrument. (Check Applicable Box)
❑Adjustable Rate Rider ❑Rate Improv R CO/(...11\';>ED Condominium Rider
❑Graduated Payment Rider ❑1-4 Fam)/ Qg/ 'Second Home Rider
❑Balloon Rider ❑Biwee ty ment Rider 1111
fanned Unit Development Rider
❑Other(s)(specify " t
SIGNING BELOW,Borrower accepts and agr-es tlth ¢add v n:nt}co t 'n ff tis S curity Instrument and in any rider(s)executed
by Borrower and recorded with it. ( 1
Signed,sealed and delivered in the presence.fn
Witness#1: 4/it ~
Barr yleC Gj -Schaeffer
Signature: �)�r�
Witness#2: \�� Cg e
Co-Borrower
Signature:
Address:
STATE OF FLORIDA
COUNTY OF COLLIER
I hereby certify that on this day, Laurie J. Schaeffer before me, an officer duly authorized in the state
aforesaid and in the county aforesaid to take acknowledgements,personally appeared to me known to be the person(s)described in and who
executed the foregoing instrument and acknowledged before me that(H'42:10 ey)executed the same for the purpose therein expressed.
WITNESS my hand and official seal in the County and State aforesaid this I-I day of 0 b91 ,2012.
My Commission Expires: ��1
Notary Public's Si•firalq
(Seal) k
Notary's Prin-. ..1474w-
,F
,yrr Notary Pudic State of Florida SHIP File#• 11-034 �'1
g J Judith P Leal
MyCommisawnEE 17566 SHIP Purchase Assistance Program
orw ExpresOL040016 Collier County Housing,Human&Veterans Department
e.
3339 E.Tamiami Trail,Bldg H,Suite 211,Naples,FL 34112
Revised:10/2012
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OR 4849 PG 3308
6/28/2016 16.D.3.
STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) PROGRAM
PROMISSORY NOTE
Date: October 2,2012
Borrower: Laurie J. Schaeffer
1420 27th St SW Naples FL 34117
(Property Address) (City) (State) (Zip)
1. BORROWER(S) PROMISE TO PAY: I/We promise to pay Nineteen Thousand Four Hundred and 1
00/100 ($19,400.00) (this amount will be called "principal") to the order of Collier
County SHIP TRUST FUND or to any other holder of this Note (the "Lender"), whose
address is 3339 E. Tamiami Trail, Naples, Florida 34112. I/We understand that the
Lender may transfer the Promissory Note. The Lender or anyone who takes this Note by
transfer and who is entitled to receive payments under this Note will be called the "Note
Holder".
2. INTEREST: Interest on this Note shall be zero percent (0%) per annum; except that if
I/We fail to pay this Note as required, 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: Payment in full is due upon sale of property within the fifteen year deferred
payment loan. If sold after the fifteen year term, no repayment is required. As long as
the borrower continues to own and occupy the assisted property during the term of the
mortgage, then the loan will not have to be repaid. My/Our total payment shall be U.S.
$19,400.00.
4. BORROWER'S RIGHT TO PREPAY: I/ t tG O �t to make payments of principal at any
i
time before they are due. A pri •f- is known as a "prepayment". When
I/We make a prepayment, I/we Wirell the Note • ,. n writing that I/we am doing so.
I/We may make a full prep:yme t . -1 •r-•ayme c'arge. The Note Holder will use
all of my prepayments to red.ce = - o to he pr• ci al that I owe under this Note.
If I/We make a partial .rep= ,.•-. , -_- e ' •- • .ha ges in the due date or in the
amount of my monthly pa .end u ��tttt`,•,•,•���ppp • ree in writing to those changes.
If I/We make a partial 1.re.a en., h r::iirt .' .re ayment penalty adhering to or
associated with such pre.- . -
5. LOAN CHARGES: If a law, h applies to thi' los. a. ich sets maximum loan charges,
is finally interpreted s. S..t the interest h an charges collected or to be
collected in connection wi•. • is loan exceed ..- r- tted limits; then (i) any such
loan charges shall be red -01,,,, the amount n- -- - y to reduce the charges to the
permitted limit; and (ii) an .. - -lready ley -. from me which exceeded permitted
limits will be refunded to me .-.2,, - sr. , go • r may choose to make this refund by
reducing the principal that I/We • - 4%.- 8 Note or by making a direct payment to
me/us. If a refund reduces principa , he reduction will be treated as a partial
prepayment.
6. SUBORDINATION: Lender and Borrower acknowledge and agree that this Security Instrument
is subject and subordinate in all respects to the liens, terms, covenants and conditions
of the First Deed of Trust and to all advances heretofore made or which may hereafter be
made pursuant to the First Deed of Trust including all sums advanced for the purpose of
(a) protecting or further securing the lien of the First Deed of Trust, curing defaults
by the Borrower under the First Deed of Trust or for any other purpose expressly
permitted by the First Deed of Trust or (b) constructing, renovating, repairing,
furnishing, fixturing or equipping the Property. The terms and provisions of the First
Deed of Trust are paramount and controlling, and they supersede any other terms and
provisions hereof in conflict therewith. In the event of a foreclosure or deed in lieu
of foreclosure of the First Deed of Trust, any provisions herein or any provisions in any
other collateral agreement restricting the use of the Property to low or moderate income
households or otherwise restricting the Borrower's ability to sell the Property shall
have no further force or effect on subsequent owners or purchasers of the Property. Any
person, including his successors or assigns (other than the Borrower or a related entity
of the Borrower), receiving title to the Property through a foreclosure or deed in lieu
of foreclosure of the First Deed of Trust shall receive title to the Property free and
clear from such restrictions.
Further, if the Senior Lien Holder acquires title to the Property pursuant to a deed in
lieu of foreclosure, the lien of this Security Instrument shall automatically terminate
upon the Senior Lien Holder's acquisition of title, provided that (i) the Lender has been
given written notice of a default under the First Deed of Trust and (ii) the Lender shall
not have cured the default under the First Deed of Trust within the 30-day period
provided in such notice sent to the Lender.
7. BORROWER(S) FAILURE TO PAY AS REQUESTED:
'''.....\ (A) Default
If I/we do not pay the full amount as required in Section 3 above, I/we will be in
default. If I am in default, the Note Holder may bring about any actions not prohibited
by applicable law and require me/us to pay the Note Holder's cost and expenses as
described in (B) below.
1
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*** OR 4849 PG 3309 ***
6/28/2016 16.D.3.
(B) Payment of Note Holder's Cost and Expenses
If the Note Holder takes such actions as described above, the Note Holder will have the
right to be paid back for all of its costs and expenses, including, but not limited to,
reasonable attorneys' fees.
8. GIVING OF NOTICES: Unless applicable law required a different method, any notice that
must be given to me/us under the Note will be given by delivering it or by mailing it by
first class mail to me at the Property Address on Page 1 or at a different address if
I/we give the Note Holder a notice of my/our different address.
Any notice that must be given to the Note Holder 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 amount owed. Any person who is a guarantor, surety
or endorser of this Note is also obligated to do these things. Any person who takes over
these obligations, including the obligations of a guarantor, surety or endorser of this
Note, is also obligated to keep all of the promises made in this Note. The Note Holder
may enforce its rights under this Note against each person individually or against all of
us together. This means that any one of us may be required to pay all of the amounts
owed under this Note.
10. WAIVERS: I and any other person who has obligations under this Note waive the rights of
presentment and notice of dishonor. "Presentment" means the right to require the Note
Holder to demand payment of amounts due. "Notice of Dishonor" means the right to require
the Note Holder to give notice to other persons that amounts due have not been paid.
11. UNIFORM SECURED NOTE: This Note is a uniform instrument with limited variations in some
jurisdictions. In addition to the protection given to the Note Holder under this Note, a
Mortgage, Deed of Trust or Security Deed (the "Security Instrument"), dated the same date
as this Note, protects the Note Hol.- ., . ible losses which might result if I/we do
not keep the promises which I/w- .- On :# That Security Instrument describes
how and under what conditions �.., .e .d o make immediate payment in full of
all amounts I/we owe under t.ri. e. Some of t .-e . ditions are described as follows:
Transfer of the Property o. a - '.1 Inter-st in :ori�ower. If all or any part of the
property or any interest in it)4sold or a sferr d Nor if a beneficial interest in
Borrower is sold or tra sfe r-. e d :. r.,.- i natural person) without Lender's
prior written consent, end-, ai i s tip., • Tq ire immediate payment in full or �•�
ms secured by t is [Se ur' y s
all sum .' •o ever, this option shall not be
exercised by Lender if
i.e ,i Led b e.- -1 law as of the date of this
Security Instrument. C
If Lender exercises this .,p '.n, Lender shall e)B. -a/er notice of acceleration. The
notice shall provide a per . not less than • .r s(..' ) days from the date the notice
is delivered or mailed, wit ich Borrower mus . all sums secured by this Security
Instrument. If Borrower(s) y� o pay the - t - prior to the expiration of this
period, Lender may invoke any`a ...' 1. .y this Security Instrument without
further notice or demand on Borrow
Notwithstanding the above, the Lender's rights to collect and apply the insurance
proceeds hereunder shall be subject and subordinate to the rights of the Senior Lien
Holder to collect and apply such proceeds in accordance with the First Deed of Trust.
12. This note is governed and construed in accordance with the Laws of the State of Florida.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
Aggillill (Seal)
Borrower a ie J. Schaeff41111111111.
(Seal)
Borrower
RETURN TO: Collier County Housing, Human and Veteran Services Department
SHIP DOWN PAYMENT AND CLOSING COST ASSISTANCE PROGRAM
3339 E. Tamiami Trail, Building H, Suite 211
Naples, Florida 34112
SHIP File#: 11-034
'� 1
2
Packet Page -1072-
6/28/2016 16.D.3.
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