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Agenda 04/25/2017 Item #16D104/25/2017 EXECUTIVE SUMMARY Recommendation to approve three mortgage satisfactions for the Community Development Block Grant Single Family Rehabilitation in the combined amount of $66,393.75. OBJECTIVE: To support the affordability of housing in Collier County through Community Development Grant (CDBG) down payment, emergency repair, and rehabilitation assistance programs. CONSIDERATIONS: Collier County offers assistance to individuals to make repairs to owner-occupied housing units through federal grants, such as the CDBG program. The County imposed an affordability period based on the funds expended in conformance with the requirements of HOME Investment Partnership Program, contained in 24 CFR 92.254. Homebuyers and/or homeowners receiving grant funds not exceeding $15,000 must meet affordability requirements for five years, and homeowners receiving grant funds from $15,000 to $40,000 must meet affordability requirements for ten years. If the property is occupied as the principal residence during the initial five year or ten year period, the assistance provided is forgiven. The following table details clients who have fulfilled the obligation of the CDBG Single Family Rehab assistance and are entitled to a satisfaction of mortgage. Name Grant/ Affordability Period Address Date of Mortgage Recording Date OR Book & PG Date Assistance Forgiven Loan Amount being Satisfied Tamre Church CDBG 10 years 1400 Pompei Lane #42 01/31/2007 03/06/2007 4192/2255 01/31/2017 $19,118.75 Gracie Goff CDBG 10 years 246 Swain St 04/09/2007 08/01/2007 4265/0220 04/09/2017 $30,125.00 Isaac Dennis CDBG 10 years 709 Breezewood 04/12/2006 08/15/2006 4088/4103 04/12/2016 $17,150.00 TOTAL $66,393.75 Approval of these items 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. FISCAL IMPACT: There is no fiscal impact associated with the Satisfactions of Mortgage. The three $10 recording fees will be paid by CDBG Grant Fund 705, Project 33479. LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority vote for Board approval.-JAB GROWTH MANAGEMENT IMPACT: There is no growth management impact. RECOMMENDATION: To approve and authorize the Chair to sign three mortgage satisfactions for single family owner-occupied affordable housing units. Prepared By: Wendy Klopf, Operations Coordinator, Community & Human Services Division 04/25/2017 ATTACHMENT(S) 1. CDBG Single Family Rehab Satisfactions (PDF) 2. CDBG Single Family Rehab Mortgages (PDF) 04/25/2017 COLLIER COUNTY Board of County Commissioners Item Number: 16.D.1 Doc ID: 2944 Item Summary: Recommendation to approve three mortgage satisfactions for the Community Development Block Grant Single Family Rehabilitation in the combined amount of $66,393.75. Meeting Date: 04/25/2017 Prepared by: Title: Operations Coordinator – Community & Human Services Name: Wendy Klopf 03/22/2017 1:30 PM Submitted by: Title: Division Director - Cmnty & Human Svc – Public Services Department Name: Kimberley Grant 03/22/2017 1:30 PM Approved By: Review: Community & Human Services Kristi Sonntag Additional Reviewer Completed 03/22/2017 1:39 PM Community & Human Services Jose Alvarado Additional Reviewer Completed 03/23/2017 3:54 PM Public Services Department Kimberley Grant Additional Reviewer Completed 03/27/2017 11:09 AM Public Services Department Joshua Hammond Additional Reviewer Completed 04/05/2017 7:40 AM Public Services Department Sean Callahan Additional Reviewer Completed 04/05/2017 7:51 AM Public Services Department Hailey Margarita Alonso Level 1 Division Reviewer Completed 04/07/2017 10:20 AM Grants Erica Robinson Level 2 Grants Review Completed 04/07/2017 12:44 PM Public Services Department Steve Carnell Level 2 Division Administrator Review Completed 04/12/2017 8:51 AM County Attorney's Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 04/13/2017 2:54 PM Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 04/13/2017 3:10 PM County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 04/13/2017 3:39 PM Budget and Management Office Ed Finn Additional Reviewer Completed 04/17/2017 11:48 AM Grants Therese Stanley Additional Reviewer Completed 04/17/2017 2:13 PM County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 04/18/2017 8:56 AM Board of County Commissioners MaryJo Brock Meeting Pending 04/25/2017 9:00 AM 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 Tamre Church to COLLIER COUNTY, dated 01/31/2007 and recorded on 03/06/2007 in Official Records Book 4192 Page 2255 of the Public Records of Collier County, Florida, having met the affordability housing obligation associated with the $19,118.75 of CDBG funds and certain promises and obligations set forth in said Mortgage, upon the property described in the aforementioned mortgage. COLLIER COUNTY hereby acknowledges the met obligation set forth in said Mortgage 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 - ATTEST: DWIGHT E. BROCK, CLERK 0 2017, Agenda Item Number , DEPUTY CLERK Approval for form and legality: Jennifer A. Belpedio Assistant County Attorney BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA 0 PENNY TAYLOR, CHAIRMAN 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 Gracie Goff. to COLLIER COUNTY, dated 04/09/2007 and recorded on 08/01/2007 in Official Records Book 4265 Page 0220 of the Public Records of Collier County, Florida, having met the affordability housing obligation associated with the $30,125.00 of CDBG funds and certain promises and obligations set forth in said Mortgage, upon the property described in the aforementioned mortgage. COLLIER COUNTY hereby acknowledges the met obligation set forth in said Mortgage 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 - ATTEST: DWIGHT E. BROCK, CLERK By: 2017, Agenda Item Number , DEPUTY CLERK Approval for form and legality: Jennifer A. Belpedio Assistant County Attorney BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA 0 PENNY TAYLOR, CHAIRMAN Prepared by: Wendy Klopf Collier County Community and Human Services 3339 E. Tamiami Trail Naples, FL 34112 SATISFACTION OF MORTGAGE THIS SPACE FOR RECORDING 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 Isaac Dennis to COLLIER COUNTY, dated 04/12/2006 and recorded on 08/15/2006 in Official Records Book 4088 Page 4103 of the Public Records of Collier County, Florida, having met the affordability housing obligation associated with the $17,150.00 of CDBG funds and certain promises and obligations set forth in said Mortgage, upon the property described in the aforementioned mortgage. COLLIER COUNTY hereby acknowledges the met obligation set forth in said Mortgage 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 - 2017, Agenda Item Number ATTEST: BOARD OF COUNTY COMMISSIONERS DWIGHT E, BROCK, CLERK OF COLLIER COUNTY, FLORIDA , DEPUTY CLERK Approval for form and legality: Jennifer A. Belpedio Assistant County Attorney am PENNY TAYLOR, CHAIRMAN Retn: 3982460 OR: 4192 PG: 2255 OBLD 19118.75 HOUSING i GRANTS DBP!/CDBG RECORDED in the OFFICIAL RECORDS of COLLIER COUNTY, FL OBLI 19118.75 INTEROFFICE 03/06/1007 at 08:03AN DNIGBT E. BROCK, CLIRI RIC FEE 35.50 ATTN: WINDY ELOPF DOC -.35 67.10 Project CD 04-05-08-03 MORTGAGE THIS MORTGAGE ("Security Instrument") is given on 1-31—d-1 The Mortgagor is: Tamre Church, a single woman ("Borrower'). This Security Instrument is given to Collier County ("Lender'), which is organized and existing under the laws of the United States of America, and whose address is 3050 N Horseshoe Dr #110 Naples. FI 34104 Borrower owes Lender the sum of Nineteen Thousand One Hundred Eighteen Dollars and 75/100 ($19.118.75). This debt is evidenced by Borrowers Note dated the same date as this Security Instrument (" Mortgage"), which provides for the full debt, if not paid earlier, due and payable on transfer of title, sale of property, refinance, or loss of homestead exemption. This Mortgage will be forgiven at the ten (10) year anniversary date of mortgage This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the mortgage, and all renewals, extensions and modifications; (b) the payment of all other sums, under paragraph 7 to protect the security of the Security Instrument; and (c) the performance of Borrowers covenants and agreements under this Security Instrument and the Mortgage For this purpose, Borrower does hereby, convey to Lender the following described property located in Collier County, Florida. More particularly described as: Unit No 42, Group J, Sorrento Villas, according to the terms and conditions of the Declaration of Condominium as recorded in Official Records Book 528, page 1, and amended in Official records book 717 page 1823 and further amended in Official Record Book 817, page 1501, Public Records of Collier County Florida. Folio#73983120005 and which has the address of: ("Property Address') 1400 Pomoei #42 Naples FI 34103 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures nowor hereafter a part of the property. All replacements and additions shall also be covered by the Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property". BORROWER COVENANTS that Borrower is lawfully seized of the property described above, and has the right to mortgage, the Property and that the Property is unencumbered, except f of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, spbjecfto any enpumbrances of record. THIS SECURITY INSTRUMENT combic ,v ' ""for national use and non-uniform covenants with limited variation by jurisdiction to constitute a unrforrfrl; ut,strumerrtsoeifiel property. UNIFORM COVENANTS. Borrq*k Lender covenant and ag, , d follows: 1. TERMS: The Borrower) of this/M4-ttgage have been granted a "15 rred'�epayment Loan," the terms of which are intended to ensu that.any kiome Investment Partnership Act (HOME) funds utilized to facilitate the rehabilitation of this Property are reca uredfand ti ed toe another lower-income orae owner with rehabilitation unless the affordability requirements are met. / � The terms of this Mortg ge 6 not rio'ui a Mata onts e m as Ibng as the makers comply with the following conditions and provisigns a i Borrower shall occupy the%?,wporty as their principal residence Sublettio the Property is not allowed even on a temporarybasis. Failure to abide b principal occupancy requii*ments�can'rest]i in foreclosure. The Borrower shall be required to submit proof of principal ocZ�y to Collier County on an bruaf base beginning on the anniversary of the first-year occupancy and annually until the end of" 'e ' ear amortization period. Soh shall include: proof of homestead exemption, copies of paid receipts for taxes and ins c d copies of insurance c„eacates for owner -occupied Property listing Collier County as Mortgage Holder. If the Borrow �a kprgvide sufficietatotpgi p� occupancy in a timely manner, the Lender may contract with an independent title company to rfor hpp, 000 r tit l`e'rocertification, the cost of which will be added to the principal amount of this Mortgage. In the event the Borrower cease principal occupancy -red fer, sell or in any manner dispose of all or a portion of the Property which is subject to the Mortgage prior to fulfilling the agreement and the end of the amortization, then the principal amount of this Mortgage shall become immediately due and payable. The Borrower shall not refinance the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there will be sufficient equity after the proposed refinancing to recapture the HOME monies. The Lender consents to any agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contact the Lender to obtain approval should they desire to transfer, assign, sell or in any manner dispose of all or a portion of the Property which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the affordability period, according to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The Lender shall have the authority to disapprove any disposal where the proceeds of such would be less than fair -market value as determined by an independent appraisal by a State Certified Residential Appraiser. f there are no net proceeds from the foreclosure, repayment is not required and HOME requirements are considered to be satisfied. In the event of the death of the Borrowers) prior to expiration of the, affordability period has been attained, all of the debt will be forgiven. 2. Taxes. The Mortgagor will pay all taxes, assessments, sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall pay or cause to be paid, as the same respectively become due, (AX 1) all taxes and governmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respect to the Property, (2) all utility and other charges, including "service charges", incurred or imposed for the operation, maintenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to pay or cause to be paid only such installments as are required to be paid during the term of the Mortgage, and shall, promptly after the payment of any of the foregoing, forward to Mortgagee evidence of such payment. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applied; first, to principal due; and last, to any late charges due under the Mortgage. 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 Lenders 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 Page 1 of 4 OR: 4192 PG: 2256 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 issuance of notice. 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the 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 Mortgage is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto, including, but not limited to, all- risk insurance protecting the interests of the Mortgagor and Mortgagee against loss or damage to the Premises by fire, lightning, and other casualties customarily insured against (including boiler explosion, if appropriate), with a uniform standard extended coverage endorsement, including debris removal coverage. Such insurance at all times to be in an amount not less than the full replacement cost of the Premises, exclusive of footings and foundations. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall 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 the affordability period r after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances„exisfwhich are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to dE1t” ncr�t orr(Tmitwaste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether clvjl r c irr al i��i i at�iM 4gder's good faith judgment could result in forfeiture of the Property or otherwise materially impai � e crated by this Sec�rr�'E i; n%' ment or Lender's security interest. Borrower may cure such a default and reinstate, as o ` bd to paragraph 18, by cal ng-th6 ction or proceeding to be dismissed with a ruling that, in Lender's good faith deterrrtma precludes forfeiture of the B owe interest in the Property or other material impairment of the lien created by this SecV "it Instrument-or.,.Leed(Ws securi ,inter st. Borrower shall also be in default if Borrower, during the loan application process, gbVe'r5atpnally.false or'in ccurate i formation or statements to Lender (or failed to provide Lender with any material info(mation)irx netrori vitF�"the.loap wden by the Mortgage, including, but not limited to, representations concerning Borrowers oupbno cif iheP�pErty As n� residence. If this Security Instrument is on leasehold, Borrower shall comply with all d)e ovisron of th lee EBrr�eures fee title to the Property, the leasehold and the fee title shall not merge unless qepcl,agfeesothrrter hr m"writing. 7. Protection of Lender's Iihfis�rrr the° fi3orro rtY': �fatls t perform the covenants and agreements contained in this Security Instrument °air , re is a legal proceedmgat mai signifies fly affect Lender's rights in the Property (such as a proceeding in bankruptcy tat for condemnation or forfetrre or to arfr laws or regulations), then Lender may do and pay for whatever is necessary to p''the value of the Property a id�Lend& cghts in the Property. Lender's actions may include paying any sums secured by a lied ttich,has priority over this Securlty>n troment, appearing in court, paying reasonable attomeys' fees and entering on the Prope td"�rtra,*e repairs. Although efiolP may take action under this paragraph 7, Lender does not have to do so. Any amounts disbu `~eT byrrdeurradethi ra 7 shall become additional debt of Borrower secured by this Security Instrument. a e Insurance. If Lender re uir 8. Mortetl'rn®` 9 9 q 4ns'ranee 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 paythe premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediatelyfor the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amount of such payments. 11. Borrower Not Released, Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. Page 2 of 4 OR: 4192 PG: 2257 12. Successors and Assigns Bound; Joint and Several Liability; Co -Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions of Paragraph 17. Borrowers covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant and convey that 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 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 Borrpwer. 18. Borrower's Right to Reinstate Ji Bt0`rccf_`er to conditions, Borrower shall have the right to have enforcement of this Security Instrument disci i earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) e�r safe of the Property p to any power of sale contained in this Security Instrument; or (b) entry of a judgment enfor ntt�is Security Instrument. Th"eta itions are that Borrower: (a) pays Lender all sums which then would be due under tffise'urity Instrument and the Note if,acceleration had occurred; (b) cures and default of any other covenants or agreement; pays aifexpenss incurred in enforcing this Security Instrument, inct�ut notlimi e to, reasons le attorneys fees; and (d) takes such action as Lender may reasonably require to acture thatjlenrrolkSuo� erg jTndes rights in the Property and Borrowers obligation to pay the sums secured by thi$ e19" lalst ur e4s atl!A n r e n hanged Upon reinstatement by Borrower, this Security Instrument and the obligations soured he�eb�t sh II re aih, lulltyy iie as if no acceleration had occurred. However, this right to reinstate shall not applyfr�aof'0eratii n<r parag-api 17 9 , 19. Sale of Note; an b - o servic"ir -The S " or a p*afinle"fln the Note (together with this Security Instrument) maybe sold one or more im without prior notice to Borr er. Asale may result in a change in the entity (known as the "Loan Servicer") that collects mon y iments due under the N 'rid this Sept ri(Y Instrument. There also may be one or more changes of the Loan Servicer ung f to a sale of the Note If *re is„a- fi'ge of the Loan Servicer, Borrower will be given written notice of the change in accord' dc6w paragraph 14 and app Iio ble ta�Sr. The notice will state the name and address of the new Loan Servicer and the address t%vfiithiments should be [aFnotice will also contain any other information required by applicable law...$ 20. Hazardous Substances. Borrowerslralfn»(case irrt thespresence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower sh4W6 o,- or 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 leams, 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 process the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys 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, "attomeys' fees" shall include any attomeys' fees awarded by an appellate court. Page 3 of 4 *** OR: 4192 PG: 2258 *** 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) r1 17-1 LI Adjustable Rate Rider u Rate Improvement Rider u Condominium Rider r1 u Graduated Payment Rider r1 u Balloon Rider F-1 u Others) (specify n r� u 1-4 Family Rider U Second Home Rider n r1 u Biweekly Payment Rider L -J Planned Unit Development Rider SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any riders) executed by Borrower and recorded with it. Signed, sealed and delivered in the presence of: Witness Signature: Signature: Bon Tamre Church Witness Print Name: " Signature: Borrower Witness Signature: Witness Print Name: A.AOZ— Address: STATE OF Florida COUNTY OF Collier hereby certify that on this day, take acknowledgements, personally app who executed the foregoing instrument < therein expressed WITNESS my hand and official seal jrt1 My Commission Expires: Notary's (SEAL) a an officer duly authoh to acxnowieo 0eto�re me that .kCounty and State aforesaid this Return to: Collier County Housing & Human Services Single Family Rehabilitation Loan Program 3050 N. Horseshoe Drive, Suite 110 Naples, FL 34104 Project # CD 04-05-08-03 state aforesaid and in the county aforesaid to to be the person(s) described in and executed the same for the purpose S,w Page 4 of 4 A. WENI)ykK.OPF MY COMMISSION # DD 9uaw April 12 20W746 ThIruuES: NoWN p the nCerwriters Page 4 of 4 Retn: 4054331 OR: 4265 PG: 0220 OBLD 30125.00 HOUSING & HUNAN SVCS/CDBG PROG RECORDED in the OFFICIAL RECORDS of COLLIER COUBTY, FL OBLI 30125,00 INTER OFFICE 08/01/2007 at 02:45PH DWIGHT B, BROCK, CLERK RBC FBI 35.50 WENDY KLOPF 252-5701 DOC -.35 105.70 Project Number CD 04/05/08/06 MORTGAGE THIS MORTGAGE ("Security Instrument") is given on _Apdg 2007 The Mortgagor is: Gracie Goff, as single woman ("Borrower"). This Security Instrument is given to Collier County ("Lender"), which is organized and existing under the laws of the United States of America, and whose address is 3050 North Horseshoe Drive, Suite 110. Naples, Florida 34104. Borrower owes Lender the sum of: Thirty Thousand One Hundred Twenty Five Dollars and no/100 ($30,125.00). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument (" Mortgage"), which provides for the full debt, if not paid earlier, due and payable on transfer of title, sale of property, refinance, or loss of homestead exemption. This Mortgage will be forgiven at the ten (10) year anniversary date of mortgage. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the mortgage, and all renewals, extensions and modifications; (b) the payment of all other sums, 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 Mortgage For this purpose, Borrower does hereby, convey to Lender the following described property located in Collier County, Florida. More particularly described as: A parcel of land located in Section 13, Township 52 South, Range 29 East, collier County, Florida, Parcel 9 Copeland, Florida. Folio# 01133640006 and which has the address of: 246 Swain St Copeland FI 34137 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereafter apart of the property. The Security Instrument shall also cover all replacements and additions. All of the foregoing is referred to in this Security Instrument as the "Property'. BORROWER COVENANTS that Borrower is lawfully seized of the property described above, and has the right to mortgage, the Property and that the Property is unencumbered, except f of record. Borrower warrants and will defend generally the Ube to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variation by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. TERMS: The Borrower) of this Mortgage have,been_granted a "Deferred Repayment Loan," the terms of which are intended to ensure that "°` to t)nec t Partnership Act (HOME) funds utilized to facilitate the rehabilitation of this Property are recaptured t z tO In ref-income home owner with rehabilitation unless the affordability requirements are met. v The terms of this Mortgage''e�oi.�fequire that pay °ent be made as long as the makers comply with the following cgrdit, "ns aln laPr&vtslons ` --, Borrower shall occupy the Prop ti�err'prCr�l tilting of the Property is not allowed even on a temporary basis. Failure to abide by th ! prnG o ¢ pan yir Oire�n it q'6 result',, in foreclosure. The Borrower shall be required to submit proof of prinapafocxupanOy to Colli r �ou6ty o arfanrthal -basis beginning on the anniversary of the first-year occupancy and annually until the er oft*eh a r tit do od. chs roof l include: proof of homestead exemption, �zacopies of paid receipts for taxes and 9irtsilrance, and copies of insurance ificatei tpt` owner -occupied Property listing Collier County as Mortgage Holder. ff the loRlRvyer fails to provide sufficitpr000f abqupancy in a timely manner, the Lender may contract with an independent title co rtl o perform the necessaryMe r4­cetrtgtion, the cost of which will be added to the principal amount of this Mortgage. N, "J . In the event the Borrower cea primal occupancy, transfer, g or` q any manner dispose of all or a portion of the Property which is subject to the Mortgage p rty jp i Ft l(rNic�g the agreement artd t ""end of the amortization, then the principal amount of this Mortgage shall become immediately doe end p -_` :u . The Borrower shall not refinance the ind6titc4h4sss cur�bytf is Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there vviil'Te sufficient equity after the proposed refinancing to recapture the HOME monies. The Lender consents to any agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contact the Lender to obtain approval should they desire to transfer, assign, sell or in any manner dispose of all or a portion of the Property, which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the affordability period, according to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The Lender shall have the authority to disapprove any disposal where the proceeds of such would be less than fair -market value as determined by an independent appraisal by a State Certified Residential Appraiser. f there is no net proceeds from the foreclosure, repayment is not required and HOME requirements are considered to be satisfied. In the event of the death of the Borrower(s) prior to expiration of the, affordability period has been attained, all of the debt will be forgiven. 2. Taxes. The Mortgagor will pay all taxes, assessments, sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall pay or cause to be paid, as the same respectively become due, (Ax1) all taxes and governmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respect to the Property, (2) all utility and other charges, including "service charges", incurred or imposed for the operation, maintenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to pay or cause to be paid only such installments as are required to be paid during the term of the Mortgage, and shall, promptly after the payment of any of the foregoing, forward to Mortgagee evidence of such payment. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applied; first, to principal due; and last, to any late charges due under the Mortgage. 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 withitl 10 days of the issuance of notice. Page 1 of 4 OR: 4265 PG: 0221 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 Mortgage is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto, including, but not limited to, all- risk insurance protecting the interests of the Mortgagor and Mortgagee against loss or damage to the Premises byfire, 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 Borrowers principal residence for at least the affordability period r 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, allows the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal .m b n that in Lenders good faith judgment could result in forfeiture of the Property or otherwise materially impair the r n ! t iso ety Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as prpvj d arag�a h f 8 `c -*"'"'g, the action or proceeding to be dismissed with a ruling that in Lenders good faith determitircludes forfeiture of fhgTotrrrers interest in the Property or other material impairment of the lien created by this 5eur#)y°Instrument or Lenders secAiry interest. Borrower shall also be in default if Borrower, during the loan application ptocess Raveeaaterially false or inaccurateinformation or statements to Lender (orfailed to provide Lender with any material infonnatiofi) into ra tic---wi --thi idar` i eviden d bythe Mortgage, including, but not limited to, representations concerning Borrowers occupancy of die P'rd erty as prinGpa� residence. If this Security Instrument is on leasehold, Borrower shall comply with all�R igrt " e� o requires fee title to the Property, the leasehold and 17 the fee title shall not merge unless Lender a4r to the merge irj writ, g � 7. Protection of LendeYs htts male ropett#"Borro er failsJo perform the covenants and agreements contained in this Security Instrumerfr ods egd�rpcegdiri that rla'�y signi(gh(ly affect Lenders rights in the Property (such as a proceeding in bankruptcy; probate, for condemnation or beiture Or to enfb laws or regulations), then Lender may do and pay for whatever is necessary to r: the value of the Property nd Leinde s* F(ts in the Property. Lenders actions may include paying any sums secured by aeich has priority over thisurify Istnrrent, appearing in court, paying reasonable attomeys' fees and entering on the Pro b make repairs. Although Ler der ina !°fake action under this paragraph 7, Lender does not have to do so. Any amounts ue by Lender under this para rapr"'7 shall become additional debt of Borrower secured by this Security Instrument. 8. Mortgage Insurance. If Lendet�rgquifb r�g rarlcp s a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiui1s,1*k-_-A1driintairi 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 forthe period that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, director consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrowerotherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amount of such payments. 11. Borrower Not Released, Forbearance by Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment orotherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrowers 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. Page 2 of 4 OR; 4265 PG; 0222 12. Successors and Assigns Bound; Joint and Several Liability; Co -Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions of Paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the 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 Gass mail unless applicable law required use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given to Borrower or Lender when given as provided in this paragraph. 15. Goveming Law; Severability. Federal law and the law of the jurisdiction in which the property is located shall govern this Security Instrument. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one 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, Lender shall not exercise this option if federal law as of the date of this Security Instrument prohibits exercise. If Lender exercised this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies 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 SIn trumerat Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Seco Irnai>ieots as if no acceleration had occurred; (b) cures and default of any other covenants or agreementr�y,ll experas incurred in enforcing this Security Instrumerit I drhg, but not limited to rasile attorney's fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrunt, L'ender's rights in the Property and Borrower's obligation to pay the sums secured by this S my Instrument shall continue uan ed. Upon reinstatement by Borrower, this Security Instrument and the obligation's sepure4hereb�eesh"atFremainUIbIly effectiveas i no acceleration had occurred. However, this right to reinstate shall not apply in the case of accrd under pragraph 7 19. Sale of Note; Chane off oa F s or pa it tntpresttin the Note (together with this Security Instrument) may be sold one or mor tim w hoplric�n(0) t B ro +e At� ler may result in a change in the entity (known as the "Loan Servicer") that collects mdnthl)` amend Mader th�(4oie ar this Sdcurit Instrument. There also may be one or more changes of the Loan Serviceriyfnrej�� sh,the ,NP -t#'. If they -is. 1 chanoi of the Loan Servicer, Borrower will be given written notice of the change in dancewithparagraph 14 ' d appli<c�able law e notice will state the name and address of the new Loan Servicer and the address to which payments should mad6 Th'e pdtice will also contain any other information required by applicable law. j ; 20. Hazardous Substances. tfr6wer shall not cause or pemii+t e ee�enace, use, disposal, storage, or release of any Hazardous Substances on or in the Prop BBrrower shall not do nor aftwan�!gne else to do, anything affecting the Property that is in violation of any Environmental Lpring two sentences,, i triot apply to the presence, use, or storage on the Property of small quantities of Hazardous Substance e =!Y_ r ocpg`i ized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall-, #Ui kgner 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 teams, or is noted 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 Borrowers 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 Borrowerof the rightto reinstate after acceleration and the right to assert in the foreclosure process the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys 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, "attomeys' fees" shall include any attomeys' 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. Page 3 of 4 *** OR; 4265 PG; 0223 *** SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any riders) executed by Borrower and recorded with it. Signed, sealed and delivered in the presence of: y Witness Signature: W�AJ'tC� Signature: Z Borrower Gracie Goff Witness Print Name: Signature: �j`�-O�v C� Borrower Witness Signature: lBi?i,— � Witness Print Name: LorrLS Address: STATE OF Florida COUNTY OF Collier I hereby certify that on this day, before a � tcercit�4j�ai)1k1yp� e �n the state aforesaid and in the county aforesaid to ON take acknowledgements, personally appe166m known to be the person(s) described in and who executed the foregoing instrument anc a owl ed g4&before4n2rthat HE/ H HEY executed the same for the purpose therein expressed. { WITNESS my hand and official se h, theoQur #ate a or aid thi s and My Commission Expires: Notary s Sign re Notary's PdhW' �ame, Wendy'KtopT (SEAL) I? F WENDY A. KLOPF MY COMMISSION t DD 309746 ,EXPIRES: April 12 2008; dFByirwu Notary Pc unftwdem Return to: Collier County Housing & Grants Single Family Rehabilitation Loan Program 3050 N. Horseshoe Drive, Suite 110 Naples, FL 34104 Project # HM 03-4-004 Page 4 of 4 (Check Applicable Box) r-1 U Adjustable Rate Rider r-1 " Rate Improvement Rider r -i u Condominium Rider u Graduated Payment Rider u 1-4 Family Rider t --I Second Home Rider n LJ Balloon Rider r -i t -I Biweekly Payment Rider n I --I Planned Unit Development Rider F-1 u Others) (specify SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any riders) executed by Borrower and recorded with it. Signed, sealed and delivered in the presence of: y Witness Signature: W�AJ'tC� Signature: Z Borrower Gracie Goff Witness Print Name: Signature: �j`�-O�v C� Borrower Witness Signature: lBi?i,— � Witness Print Name: LorrLS Address: STATE OF Florida COUNTY OF Collier I hereby certify that on this day, before a � tcercit�4j�ai)1k1yp� e �n the state aforesaid and in the county aforesaid to ON take acknowledgements, personally appe166m known to be the person(s) described in and who executed the foregoing instrument anc a owl ed g4&before4n2rthat HE/ H HEY executed the same for the purpose therein expressed. { WITNESS my hand and official se h, theoQur #ate a or aid thi s and My Commission Expires: Notary s Sign re Notary's PdhW' �ame, Wendy'KtopT (SEAL) I? F WENDY A. KLOPF MY COMMISSION t DD 309746 ,EXPIRES: April 12 2008; dFByirwu Notary Pc unftwdem Return to: Collier County Housing & Grants Single Family Rehabilitation Loan Program 3050 N. Horseshoe Drive, Suite 110 Naples, FL 34104 Project # HM 03-4-004 Page 4 of 4 Retn: 3886863 OR; 4088 PG; 4103 HOUSING & GRANTS CBDG RECORDED in the OPPICIAL RECORDS of COLLIER COUNTY, FL OBLD OBLI 11150.00 11150,00 HORSESHOE DR 08/15/2006 at 08:12AK DWIGHT 1. BROCK, CLERK RBC PEE 35.50 ATTN: WENDI KLOPP DOC -.35 60.20 Project CD04-05-08-04 MORTGAGE THIS MORTGAGE ("Security Instrument") is given on Lt- i 1-olf . The Mortgagor is: Isaac Dennis a single man ("Borrower'). This Security Instrument is given to Collier County ("Lender"), which is organized and existing under the laws of the United States of America, and whose address is 3050 N Horseshoe Dr #110 Naoles. FI 34104 Borrower owes Lender the sum of $Seventeen Thousand One Hundred Fifty Dollars and no/100 ($17.150.00) . This debt is evidenced by Borrower's Note dated the same date as this Security Instrument (" Mortgage"), which provides for the full debt, if not paid earlier, due and payable on transfer of title, sale of property, refinance, or loss of homestead exemption. This Mortgage will be forgiven at the ten (10) year anniversary date of mortnane. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the mortgage, and all renewals, extensions and modifications; (b) the payment of all other sums, under paragraph 7 to protect the security of the Security Instrument; and (c) the performance of Borrower's covenants and agreements underthis Security Instrument and the Mortgage For this purpose, Borrower does hereby, convey to Lender the following described property located in Collier County, Florida. More particularly described as: Lot 71 and the East % of Lot 70, Palm Ridge Subdivision, Unit 2, as per plat thereof recorded in Plat Book 9, page 50 Public Records of Collier County Florida. Folio#65171000000 and which has the address of: ("Property Address") 709 Breezewood Immokalee F134142 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures nowor hereafter a part of the property. All replacements and additions shall also be covered by the Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property". BORROWER COVENANTS that Borrower is lawfully seized of the property described above, and has the right to mortgage, the Property and that the Property is unencumbered, except f of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variation by jurisdiction to constitute a uniform security irlstrementcovering real property. UNIFORM COVENANTS. Borrower and L r�vnrtna ree as follows: 1. TERMS: The Borrower) of this Mor19�ella,b®en�eiD erred Repayment Loan," the terms of which are intended to etfst int any Home Investmeetaiership Act (HOME) funds utilized to facilitate the rehabilitation of this Property are recaptu,,r pd�°utilized to assist another lo'it cdrne home owner with rehabilitation unless the affordability requirements are met. The terms of this Mortgage dd not requ that paymenfs be made as')ong as the makers comply with the following conditions and provisigns t _ - -_7-,_,k--;, -r-11A Borrower shall occupy the Props N as their innbip l e tidetice �Su'0lettg of the Property is not allowed even on a temporarybasis. Failure to abide yrinrp %ancyµ.ieq,rreme r 1t in foreclosure. The Borrower shall be O required to submit proof of principal occupancy'to Collier"County on q annu basis t inning on the anniversary of the first-year occupancy and annually until the end' 1�citen-year amortization per*. Such prgbf sb�iI include: proof of homestead exemption, copies of paid receipts for taxes and in��nce, and copies of insurat� cedifig6te fur owner -occupied Property listing Collier County as Mortgage Holder. If the Boa r ils to provide sufficient='prmq# 9(68b4ancy in a timely manner, the Lender may contract with an independent title comp to,piarform the necessary title reertfcation, the cost of which will be added to the principal amount of this Mortgage. In the event the Borrower cease pri al u ncy} tsf r,'seij dr in any manner dispose of all or a portion of the Property which is subject to the Mortgage pnor fio firgth ag�eert5ent and the end of the amortization, then the principal amount of this Mortgage shall become immediately du -e'6 ipayable. The Borrower shall not refinance the indebtedness secured by this Mortgage. The Lender prior to granting approval shall review the proposed refinancing in order to ensure that there will be sufficient equity after the proposed refinancing to recapture the HOME monies. The Lender consents to any agreement or arrangement in which the First Lender waives, postpones, extends, reduces or modifies any provisions of the First Note or the First Mortgage, including any provision requiring the repayment of money. The Borrower shall immediately contact the Lender to obtain approval should they desire to transfer, assign, sell or in any manner dispose of all or a portion of the Property which is subject to this Mortgage prior to fulfilling this agreement and the end of the amortization period. Contacting the Lender will also ensure that the Security Instrument may be appropriately reduced incrementally for each year of the affordability period, according to an amortization schedule based on the anniversary date of the date the mortgage was recorded. The Lender shall have the authority to disapprove any disposal where the proceeds of such would be less than fair -market value as determined by an independent appraisal by a State Certified Residential Appraiser. f there are no net proceeds from the foreclosure, repayment is not required and HOME requirements are considered to be satisfied. In the event of the death of the Borrowers) prior to expiration of the, affordability period has been attained, all of the debt will be forgiven. 2. Taxes. The Mortgagor will pay all taxes, assessments, sewer rents or water rates prior to the accrual of any penalties or interest thereon. The Mortgagor shall pay or cause to be paid, as the same respectively become due, (Ax1) all taxes and governmental charges of any kind whatsoever which may at any time be lawfully assessed or levied against or with respectto the Property, (2) all utility and other charges, including "service charges", incurred or imposed for the operation, maintenance, use, occupancy, upkeep and improvement of the Property, and (3) all assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Mortgagor shall be obligated under the Mortgage to pay or cause to be paid only such installments as are required to be paid during the term of the Mortgage, and shall, promptly after the payment of any of the foregoing, forward to Mortgagee evidence of such payment. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender shall be applied; first, to principal due; and last, to any late charges due under the Mortgage. 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 issuance of notice. Page 1 of 4 OR: 4088 PG: 4104 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 Lenders approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lenders option, obtain coverage to protect Lenders rights in the Property in accordance with paragraph 7. At all times that the Mortgage is outstanding, the Mortgagor shall maintain insurance with respect to the Premises against such risks and for such amounts as are customarily insured against and pay, as the same become due and payable, all premiums in respect thereto, including, but not limited to, all- risk insurance protecting the interests of the Mortgagor and Mortgagee against loss or damage to the Premises by fire, lightning, and other casualties customarily insured against (including boiler explosion, if appropriate), with a uniform standard extended coverage endorsement, including debris removal coverage. Such insurance at all times to be in an amount not less than the full replacement cost of the Premises, exclusive of footings and foundations. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall 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 Lenders security is not lessened. If the restoration or repair is not economically feasible or Lenders 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, Borrowers 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 Borrowers principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrowers principal residence for at least the affordability period r 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 action or proceeding, whether civil or criminal, is begun that in Lenders good faith 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 ins ! mousing the action or proceeding to be dismissed with a ruling that, in Lenders good faith determination p l w d e f tY ;Borrowers interest in the Property or other material impairment of the lien created by this Secgu'' is�rriient or Lenoers;`sarriinterest. Borrower shall also be in default if Borrower, duringthe loan application rocd ve material) false or ina " e PP P Y eth rmation or statements to Lender(orfailed to provide Lender with any material informdlion%ri`connection with the loan evide ced b the Mortgage, including, but not limited to, representations concerning Borrowers occtfpapcy of°tTia.Propeity es,.,a princi I residence. If this Security Instrument is on leasehold, Borrower shall comply witFYaall the prorsto the tease It rower a uires�fee title to the Property, the leasehold and the fee title shall not merge unless LendeF agrto th.aergr�nr , 7. Protection of Lender`s R f e r dr p agreements t Y A o n w f 1s =to e�irform the covenants and contained in this Security Instrument, or ie is a eg l p�oc e i I t� I ni icantjy affect Lenders rights in the Property (such as a proceeding in bankruptcyi b to " or pp d iatipn rf rfeiture rt en6tce laws or regulations), then Lender may do and pay for whatever is necessary tc prdt�t ar;lu, P" and >rst,rights in the Property. Lenders actions may include paying any sums secured by h ien ,which has rionover thi Securi Instrurr rIt, appearing in court, paying reasonable attomeys' fees and entering on the Pro -make repairs. Althota '� neer rna lafce action under this paragraph 7, Lender does not have to do so. Any amounts a sed by Lender under th "ppragr cal shall become additional debt of Borrower secured by this Security Instrument.` < S. Mortgage Insurance. If Le a reuued mortgage insuren condition of making the loan secured by this Security Instrument, Borrower shall pay the p urns e�qufred Io rnarfe ai the rrtortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lendor-l ps, 'qrw s t in, effect, Borrower shall pay the premiums required to obtain Coverage substantially equivalent to the mortgage"insuraace 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 taking of the Property, in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately for the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 or change the amount of such payments. 11. Borrower Not Released, Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrowers 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. Page 2 of 4 OR: 4088 PG: 4105 12. Successors and Assigns Bound; Joint and Several Liability; Co -Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the Provisions of Paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the 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. Borrowers 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. Borrowers 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 oflt►e-Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing th'S" fit_1n tro or't" Triose conditions are that Borrower: (a) pays Lender all sums which then would be due under this S t l� t•4n�the'. to as if no acceleration had occurred; (b) cures and default of any other covenants or agreement"tlays allexpenses incurred in enforcing this Security Instrumen t i ct 'ding, but not limited to, rd c66 attorneys fees; and (d) takes such action as Lender may reasonably require to assure that", the lien ofMthis Security Instrum t, Le den's rights in the Property and Borrower's obligation to pay the sums secured bWthis cuq(V Instrurnentashalia, tinue uri go obligation Upon reinstatement by Borrower, this Security Instrument and the obhgatiofis see ured tlereby haIremain fully effectiv as d no acceleration had occurred. However, this right to reinstate shall not apply in the pegr to T1 19. Sale of Note; Chan 'e of oar S hA 4k -The IVot for p �a � interest'in the Note (together with this Security Instrument) may be sold one or mor time without , rio notrc td Bi�irfter� ,A , ler may result in a change in the entity (known as the "Loan Servicer") that collects mor�I�y' P, lu u�d r t e` tote and th Sd� Instrument. There also may be one or more changes of the Loan Servicer�lntet ted a sa ofloe W616,' If thereis a ch of the Loan Servicer, Borrower will be given written notice of the change in dance with paragraph 14 an f apphc blefartcr�T`he notice will state the name and address of the new Loan Servicer and the adds s clwhich payments should* 9 ad6 Than`btice will also contain any other information required by applicable law. 20. Hazardous Substances r rrowe�shall not cause or permit thif i pence, use, disposal, storage, or release of any Hazardous Substances on or in the Proper B,brrbwer shall not do normailu anyone else to do, anything affecting the Property that is in violation of any Environmental Law xde pr $ 11roo°seri e: t,.sffaaal'I not apply to the presence, use, or storage on the Property of small quantities of Hazardous Sub :r ge�redognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall prdmpttyNgive`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 process the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys 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, "attomeys' fees" shall include any attomeys' fees awarded by an appellate court. Page 3 of 4 *** OR: 4088 PG: 4106 *** 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) r-1 r-1 r-1 u Adjustable Rate Rider u Rate Improvement Rider " Condominium Rider r-1 r-1 r-1 u Graduated Payment Rider u 1-4 Family Rider " Second Home Rider F-1 r-1 r-1 II Balloon Rider u Biweekly Payment Rider IJ Planned Unit Development Rider t1 u Other(s) (specify SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any riders) executed by Borrower and recorded with it. Signed, sealed and delivered in the presence of: ' Witness Signature: ILI �3 rk-"for Q>� Signature: V v ` u Borroyld Isaac Dennis Witness Print Name: Signature: a� Borrower Witness Signature: Witness Print Name:;;�o 111-aOL t 7o-rr,e-S Address: -10Ci �r�CZao ..1•rc�rc�ok� e>✓ F l 3� t � a-. STATE OF Florida COUNTY OF Collier I hereby certify that on this day take acknowledgements, personally who executed the foregoing therein expressed. c o WITNESS my hand and official seal County and State My Commission Expires: > Notary Pub sa lure (SEAL) WENDYA IaOPF Y MY COMMISSION # DD 309746 EXPIRES: April 12, 2006 Bonded TMu Notuy Pubic Underwriters an officer duly authorized ib Jhp :CUc�1►1�5 fta me lediaed iftre me that HE/ SHE Return to: Collier County FAH Single Family Rehabilitation Loan Program 2800 N. Horseshoe Drive, Suite 400 Naples, FL 34104 Project # CD 04-05-08-04 state aforesaid and in the county aforesaid to to be the person(s) described in and executed the same for the purpose this a fl ;s t� a/01 �.s Page 4 of 4 1-0"wurl olpy tin N nAU MWe 800?'et IWV:S3UldX3 9VL60E 00 # NOISSIWW00 AW dd" 'V AON3M