Agenda 04/28/2015 Item #16D11 4/28/2015 16.D.11 .
EXECUTIVE SUMMARY
Recommendation to approve a satisfaction of mortgage for the American Dream Downpayment
Assistance Program in the amount of$6,954.
OBJECTIVE: To support the affordability of housing in Collier County through downpayment
assistance programs.
CONSIDERATIONS: Collier County offers assistance to individuals to purchase housing units through
federal grants, such as the American Dream Downpayment Assistance Program(ADDI), who was funded
by the HOME Investment Partnership Program. In conformance with the requirements of ADDI,
contained in 24 CFR 92.612c and 92.254(a)(4), homeowners receiving grant funds must meet
affordability requirements for five years.
The following table details a client who has paid off his lien, fulfilling the obligations of the ADDI
assistance provided and making him entitled to a satisfaction of mortgage.
Date OR Book Loan Amount Paid
Name(s) Grant Address Assistance & PG Amount Off
Provided
Virgin C. 5160 Everglades OR 4646
Lindsey ADDI Blvd.N Naples, FL 01/27/2011 PG 2282 $6,954 $6,954
34120
Approval of this item will authorize the Chairman to sign the aforementioned satisfaction of mortgage,
and the executed documents shall be recorded in the Public Records of Collier County,Florida.
FISCAL IMPACT: The repaid amount of$6,954 is considered program income and has been deposited
in the Urban Improvement Grant Fund (121), Project 31121. Such funds may be reused for other eligible
Housing Urban Development(HUD)program activities.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this
Executive Summary.
LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires majority vote
for approval.—JAB
STAFF RECOMMENDATION: That the Board of County Commissioners approves and authorizes the
Chairman to sign the release of lien for an owner-occupied affordable housing unit that has satisfied the
terms of assistance.
PREPARED BY: Mandy Moody, Grant Support Specialist, Community &Human Services Division
Attachments: ADDI mortgage, Release of Lien, and SAP Backup for the payoff
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4/28/2015 16.D.11 .
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.D.16.D.11.
Item Summary: Recommendation to approve a satisfaction of mortgage for the American
Dream Downpayment Assistance Program in the amount of$6,954.
Meeting Date: 4/28/2015
Prepared By
Name: MoodyMandy
Title: Grants Support Specialist, Community&Human Services
4/2/2015 1:48:33 PM
Submitted by
Title: Grants Support Specialist, Community &Human Services
Name: MoodyMandy
4/2/2015 1:48:35 PM
Approved By
Name: KushiEdmond
Title: Accountant, Community &Human Services
Date: 4/6/2015 1:16:55 PM
Name: SonntagKristi
Title: Manager-Federal/State Grants Operation, Community &Human Services
Date: 4/7/2015 12:35:07 PM
Name: GrantKimberley
Title: Division Director-Cmnty &Human Svc, Community&Human Services
Date: 4/8/2015 9:35:37 AM
Name: TownsendAmanda
Title: Division Director-Operations Support, Public Services Department
Date: 4/8/2015 11:29:00 AM
Name: DoriaPriscilla
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4/28/2015 16.D.11 .
Title: Grants Coordinator,Community &Human Services
Date: 4/8/2015 11:39:47 AM
Name: CarnellSteve
Title: Department Head-Public Services,Public Services Department
Date: 4/9/2015 1:16:49 PM
Name: RobinsonErica
Title: Accountant, Senior, Grants Management Office
Date: 4/9/2015 1:34:38 PM
Name: BelpedioJennifer
Title: Assistant County Attorney, CAO General Services
Date: 4/9/2015 4:43:28 PM
Name: KlatzkowJeff
Title: County Attorney,
Date: 4/14/2015 1:33:12 PM
Name: StanleyTherese
Title: Manager-Grants Compliance, Grants Management Office
Date: 4/17/2015 9:06:47 AM
Name: KlatzkowJeff
Title: County Attorney,
Date: 4/17/2015 1:26:25 PM
Name: CasalanguidaNick
Title: Deputy County Manager, County Managers Office
Date: 4/17/2015 2:13:42 PM
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INSTR 4520225 OR 4646 PG 2282 RECORDED 1/27/2011 11:53 AM PAGES 5
DWIGHT E. BROCK, CLERK OF THE CIRCUIT COURT, COLLIER COUNTY FLORIDA 4/28/2015 16.D.11 .
DOC @.35 $24.50 INT @.002 $13.91 REC $44.00
OBLD $6,954.00 OBLI $6,954.00
U
C
V O
Cr THIRD MORTGAGE
CDC d d M
J rn
L (-1 C THIS THIRD MORTGAGE('Security Instrument")is given on JCt M�Q 02( ,2010. The Third Mortgagor is:
v, 0 0)
a LL. to Virgul C.Lindsey,an unmarried man
ca a 12 'D
a' U = existing under the taws of the United r eStates of America,and Collier County whose address is 3301 TLamidami Trialis5, #lid and
�— 5 Naples, Florida 34112 . Borrower owes Lender the sum of Six Thousand Nine Hundred Fifty-Four
C 't and No/100the Dollars (U.S.$ 6,954.00). This debt is evidenced by Borrower's Note dated the same date as
N this Security Instrument("Second Mortgage"),which provides for monthly payments,with the full debt.If not paid earlier,
je- due and payable on sale of property, refinance, or loss of homestead exemption . This Mortgage
n will be forgiven at the fifth (5) year anniversary data of mortgage.This Security Instrument secures
' \ to Lender:(a)the repayment of the debt evidenced by the Note,with interest,and all renewals,extensions and
modifications;(b)the payment of all other sums,with Interest advanced under paragraph 7 to protect the security of the
Q Security Instrument;and(c)the performance of Borrower's covenants and agreements under this Security Instrument and
Q the Note. For this purpose,Borrower does hereby second mortgage,grant and convey to Lender the following described
(— property located in Collier County,Florida.
C) G As more particularly described as and which has the address of:Golden Gate Eat, Unit 39 S 150ft of TR 6,
ce Collier County, Florida.
O ("Property Address'): 5160 Everglade e'.y Florida 34120
U (AddreS; `yam' (Ci M .."-- (Zip)
[ ce ce TOGETHER WITH all the irr+,{roi ntsnts now or hereafter erected on a pro erty,and all easements,rights,
ce appurtenances,rents,royalties,mineral,oil aLed-gee-rights and profits water rig' s and\stock and all fixtures now or
hereafter a part of the property. Al reptaEemegts,and ad irons 'haftialso be coved b the Security Instrument. All of the
foregoing is referred to in this Security Instrument as r0.-rty". \ 1
BORROWER COVENANTS tffa r isiawftt)y--+:. ; - alff,areby conveyed and has the right to
mortgage,grant and convey the'Srope1ty arid tftiethgPr pa,y s ,rrncu be -We xcept I`pr encumbrances of record.
Borrower warrants and will defend ge trally the title to th Prbpe in II im and demands,subject to any
encumbrances of record. t ,. / L. I
THIS SECURITY INST ME nes / is for ionitI use I
ar4d non-uniform covenants with
limited variation by jurisdiction to ti e a uniform security instru'nt covering rea'1 Property.
UNIFORM COVENANTS.\Bt(rower and Lender covenant art Jreefas follows/
\ .4 1 fs
1. Terms: The Borrower)of\tlis'.Ma{tgage have been granted'a' fat payment Loan,'the terms of which
are intended to ensure that any Ameritar Die, Down payment Initiative(Appl)"funds utilized to facilitate the purchase of
this Property are recaptured and utilized a5i'st then lower-incorrse-tiiatfwtia"`tnrner unless the affordability requirements
are met. ( )
1w" The terms of this Mortgage do not re retthr4,Jaen- s-LA fade as long as the makers comply with the
following conditions and provisions:
I
Borrower shall occupy the Property
O ply p rty as their principal residence. Subletting of the Property is not allowed even on
0 a temporary basis. Failure to abide by the principal occupancy requirements can result in foreclosure. The Borrower shall• be required to submit proof of principal occupancy to Collier County on an annual basis beginning on the anniversary of the
first-year occupancy and annually until the end of the amortization period. Such proof shall include:proof of homestead
exemption. If the Borrower fails to provide sufficient proof of occupancy in a timely manner,the Lender may contract with
an independent title company to perform the necessary title re-certification,the cost of which will be added to the principal
amount of this Mortgage.
In the event the Borrower cease principal occupancy,transfer,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
C--- principal amount of this Mortgage shall become immediately due and payable based on the repayment schedule.
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 ADDI 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.
If there are no net proceeds from the foreclosure,repayment is not required and AUDI 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,(A)(1)all taxes and r
'
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,`-' - - ' Vtrrted or imposed for the operation,
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OR 4646 PG 2283 4/28/2015 16.D.11.
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 interest due:and,to principal due;and last,to any late charges due under the Note.
4. Charges;Liens. Borrower shall pay all taxes,assessments,charges,fines and impositions attributable to the
Property which may attain priority over this Security Instrument.and leasehold payments or ground rents,if any. Borrower
shall promptly 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 ken:or(c)secures from the holder of the lien an agreement satisfactory to
Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a
lien which may attain priority over the Security Instrument,Lender may give Borrower a notice Identifying the lien.
Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on
the Property insured against loss by fire,hazards included within the term'extended coverage and any other hazards,
including floods or flooding,for which Lender requires insurance. This insurance shall be maintained in the amounts and
for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to
Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above,
Lender may.at Lender's option,obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7.
At all times that the Note is outstanding,the Mortgagor shall maintain insurance with respect to the Premises against such
risks and for such amounts as are customarily insured against and pay,as the same become due and payable,all
premiums in respect thereto,including,but not Iimr ,,ell-rTR: 3orence protecting the interests of the Mortgagor and
Mortgagee against loss or damage to the Prem+s s rc;�igtStni id-R3her casualties customarily insured against
(including boiler explosion,if appropriate),yvff " furrstart�aTd-eadbrldetcropverage endorsement,including debris
removal coverage. Such insurance at alf'(jri eto•be in an amount not le ttfanlithe,full replacement cost of the Premises,
exclusive of footings and foundations./ 7 4'` ` \
All insurance policies and rensewa sAhall be acceptable to Lender and all intllude a standard mortgage clause.
Lender shall have the right to hold the poli4ies,and renewals.—ltleffder-requires, orrov+er shall promptly give to Lender all
receipts of paid premiums and renewal Moticei4-trtthe ever9t,.of loss.Borrower shaVivelprompt notice to the insurance
carrier and Lender. Lender may Make prop,Lof pss if addptompll r r. \
Unless Lender and Borrower of erwthe a gl ra prceslshall be applied to restoration or
repair of the Property damaged,�f the g sto`ation r pail is ecc n" i by a ,fe aid Lender's security is not lessened.
If the restoration or repair is not econotitica f ly fea,5,ibleeko^ r k.ennde('s ecurity but be tosser ed,the insurance proceeds
shall be applied to the sums sect regtiVtpe`6etrinty,Instfu `e ether o ot�en}du"'e,With any excess paid to
Borrower, If Borrower abandons\tbe-Ptoper y,or does not answ re within 30 gays a e from Lender that the insurance
carrier has offered to settle a claire4hen,Lender may collect the insure' ce praceeds Winnder may use the proceeds to
repair or restore the Property or to ay sums secured by this Security - mfent.Ataej`ther or not then due. The 30-day
period will begin when the notice is naa0e ',Unless Lender and Borrower therwiseegFee in writing,any application of
proceeds to principal shall not extendbrrdslpone the due date of the month pdyafents referred to in paragraph 1 or
change the amount of the payments. Ii ndti' aragraph 21 the Proper tyis'a� $iredby Lender,Borrower's right to any
insurance policies and proceeds resulfingg"fforh•tarn2Age..to the ProoertT or,fe lte acquisition shall pass to Lender to the
extent of the sums secured by this Security lrsttur r iptrieejjateiyy r of t acquisition.
6. Occupancy,Preservation,Maintenance di,'rritec§igp.ofthe Property;Borrower's Loan Application,
Leaseholds. Borrower shall occupy,establish,and use t_he frroperty as Borrower's principal residence within sixty days
after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence
for at least one year after the date of occupancy,unless Lender otherwise agrees in writing,which consent shall not be
unreasonably withheld,or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not
destroy damage or impair the Property,allows the Property to deteriorate,or commit waste on the Property. Borrower
shall be in default if any forfeiture action or proceeding,whether civil or criminal,is begun that in Lender's good faith
judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument
or Lender's security interest. Borrower may cure such a default and reinstate,as provided in paragraph 18,by causing the
action or proceeding to be dismissed with a ruling that,in Lenders good faith determination,precludes forfeiture of the
Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's
security interest. Borrower shall also be in default if Borrower,during the loan application process,gave materially false or
inaccurate information or statements to Lender(or failed to provide Lender with any material information)in connection
with the loan evidenced by the Note,including,but not limited to,representations concerning Borrower's occupancy of the
Property as a principal residence. If this Security Instrument is on leasehold,Borrower shall comply with all the provision
of the lease. If Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender
agrees to the merger in writing.
7. Protection of Lender's Rights In the Property. If Borrower fails to perform the covenants and agreements
contained in this Security Instrument,or there is a legal proceeding that may significantly affect Lender's rights in the
Property(such as a proceeding in bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations),
then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the
Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument,
appearing in court.paying reasonable attorneys'fees and entering on the Property to make repairs. Although Lender may
take action under this paragraph 7,Lender does not have to do so. Any amounts disbursed by Lender under this
paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender
agree to other terms of payment,these amounts shall bear interest from the dale of disbursement at the Note rate and
shall be payable,with interest,upon notice from Lender to Borrower requesting payment.
8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by
this Security Instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If.for
any reason,me 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 mortaaae insurance coverage is not available,Borrower shall pay
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OR 4646 PG 2284 4/28/2015 16.D.11 .
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 rity.j'lrnment granted by Lender to any successor in
interest of Borrower shall not operate to release ifeki• . f'- -r' (dial wer or Borrower's successors in interest.
Lender shall not be required to commence fypq�q arcs a s'olh,mterest or refuse to extend time for
payment or otherwise modify amortizatiorizfie,sums secured by this S' r#y"IhStrument by reason of any demand made
by the original Borrower or Borrowers our ,ssoors in interest. Any forbearan `by Lender in exercising any right or remedy
shall not be a waiver of or preclude the exertas right or remedy.
12. Successors and Ass(ans B,4urtd Joint and-SeveraLhjai�ility;Co&Signets. The covenants and
agreements of this Security Intro ent shall bit nd'enefit-tVe successors and a sign of Lender and Borrower,subject
to the Provisions of paragraph 17 Borrpw Ivan ats4nd Qr nZ.sha)I int ar d several. Any Borrower who
co-signs this Security Instrument, d e tw it il t�ritei ec0e-5igti`n$ hii Security Instrument only to
mortgage,grant and convey thatiBorroliery interest i Pr p e n r t e t s of this Security Instrument;(b)is not
personally obligated to pay the sums securikd byytbis hecuntyiInSt Tent;arid( agrees that Lender and any other
Borrower may agree to extend,rr�o7'iiy,ifotbear of mdkriyaccotrmaodationA reoga to the terms of this Security
Instrument or the Note without thatBorrpwers consent. \ir 'i —,,/
13. Loan Charges. If the lgan stecured by this Security Instrument islsubj by law which sets maximum loan
charges,and that law is finally interpi'eeted\5o that the interest or other arrchpprgeS collected or to be collected in
connection with the loan exceed the pe')itted limits,then:(a)any such 1aan ttr rge�shall be reduced by the amount
necessary to reduce the charge to the eYriiitfed limit;and(b)any sums alread,r cbilecfted from Borrower which exceeded
permitted limits will be refunded to Borrovfe(' k , r may choose to make'tis yefuhd by reducing the principal owed
under the Note or by making a direct paymer`t�f1'Be refund-,rred ,.principal,the reduction will be treated as a
partial prepayment without any prepayment cha ekrr)tet o a,_t...
14. Notices. Any notice to Borrower prov iied;2q!^rn this ecurit�i 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 taw,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. Borrower's Right to Reinstate. If Borrower meets certain conditions,Borrower shall have the right to have
enforcement of this Security Instrument discontinued at any time prior to the earlier of:(a)5 days(or such other period as
applicable law may specify for reinstatement)before sale of the Property pursuant to any power of sale contained in this
Security Instrument;or(b)entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:(a)
pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had
occurred;(b)cures and default of any other covenants or agreements;(c)pays all expenses incurred in enforcing this
Security Instrument,including,but not limited to,reasonable attorney's fees;and(d)takes such action as Lender may
reasonably require to assure that the lien of this Security Instrument.Lender's rights in the Property and Borrower's
obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by
Borrower,this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had
occurred. However,this right to reinstate shall not apply in the case of acceleration under paragraph 17.
19. Sale of Note;Change of Loan Servicer. The Note or a partial interest in the Note(together with this
Security Instrument)may be sold one or more times without prior notice to Borrower. A sale may result in a change in the
entity(known as the"Loan Servicer")that collects monthly payments due under the Note and this Security Instrument. r
There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the
Loan Servicer,Borrower will be given written nr"--^'""-'---- - ' pe with paragraph 14 and applicable law.
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,
The notice will state the name and address of the new Loan Servicer and the address to which payments should be made.
The notice will also contain any other information required by applicable law.
20. Hazardous Substances. Borrower shall not cause or permit the presence,use,disposal,storage,or release
of any Hazardous Substances on or in the Property. Borrower shall not do,nor allow anyone else to do.anything affecting
the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence,
use,or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be
appropriate to normal residential uses and to maintenance of the Property.
Borrower shall promptly give Lender written notice for any investigation,claim,demand,lawsuit or other action by
any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
Environmental Law of which Borrower has actual knowledge. If Borrower learns,or is notified by any governmental or
regulatory authority,that any removal or other remediation of any Hazardous Substance affecting the Property is
necessary,Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.
As used in this paragraph 20,-"Hazardous Substances"are those substances defined as toxic or hazardous
substances by Environmental Law and the following substances: gasoline,kerosene,other flammable or toxic petroleum
products,toxic pesticides and herbicides,volatile solvents,materials containing asbestos or formaldehyde,and radioactive
materials. As used in this paragraph 20,"Environmental Law"means federal laws and laws of the jurisdiction where the
Property is located that relate to health,safety or environmental protection.
21. Acceleration;Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
breach of any covenant or agreement in this Security Instrument(but not prior to acceleration under paragraph 17 unless
applicable law provides otherwise). The notice shall specify: (a)the default:(b)the action required to cure the default;(c)
a date,not less than 30 days from the date the notice is given to Borrower,by which the default must be cured:and(d)
that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured
by this Security Instrument,foreclosure by judicial proceeding and sale of the Property. The notice shall further inform
Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence
of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the
date specified in the notice.Lender,at its option,may },�a i�gs++m at ayment in full of all sums secured by this
Security Instrument without further demand a a f dtosertbi strument by judicial proceeding. Lender
shall be entitled to collect all expenses inrd ;angtfi€f8 in this paragraph 21,including,but not
limited to,reasonable attorneys fees and tale title evidence. 'IN
22. Release. Upon paymentrif tsu s secured by this Security Ine Lender shall release this Security
Instrument,without charge,to Borrower. Bperower shall pay any recordation costs.
23. Attorneys'Fees. As used ln'tthi ecurity Insis�arnsae Note,A ttomeys'fees"shall include any
attorneys'fees awarded by an app�llate//�d^^""urt
SIGNING BELOW,Borrower accepts is r t " and v is aired in\this Security Instrument and in
any rider(s)executed by Borrower andlle ded ith ft. ) i L b' S 1 ty
Signed,sealed d delivered in t
S. r i
Witness*1: //ba-,l L�l,.LLCt.;_v Signature:j •[ `uV L. r , _//
/ i
1,:,,,,,,,L Bol ?'er / /vxtistil C. Lindsey
Signature: 1D( .u,)v `.s1 ).�I t) V" r .,
Witnesstr2: T. Vll . "i C Signature .,
-�, -•-oo- airtgW r.
Signature. : 1116 :,_•f ` I
Address: 5160 Everglades Blvd N.
Naples, Florida 34120
STATE OF FLORIDA
COUNTY OF COLLIER
I hereby certify that on this day,before me,an officer duly authorized in the state aforesaid and in the county
aforesaid to take acknowledgements,personally appeared virgin c. Lindsey tome known to be the person(s)
described in and who executed the foregoing instrument and acknowledged before me that(He!she/they)executed the
same for the purpose therein expressed.
WITNESS my hand and official seal in the County a 1 taste aforesaid this day of 11 C!_-j)L-ACA 10.
My Commission Expires: f J/_. ' I t 4 �� y- t
/ u Not. ypublic's •e a re -
WEEDY L.SICILIANO Notarys Printed ame
t 2 ;R;P„`�: Notary Public-State of Florida ,
'" _My CCommission#OD F00107 2011
4 ,%t, Bonded Through National Notary Assn.'
Files:
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EXHIBIT"A"
LEGAL DESCRIPTION FOR
5160 N EVERGLADES BLVD
NAPLES,FL 34120
FILE NO.: 2010-06843
REO NO.: A101 QZS
THE SOUTH 150 FEET OF TRACT 6, UNIT 39, GOLDEN GATE ESTATES, ACCORDING TO THE
PLAT THEREOF RECORDED IN PLAT BOOK 7, PAGE 24, OF THE PUBLIC RECORDS OF
COLLIER COUNTY,FLORIDA.
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Prepared by:Mandy Moody
Collier County
Community&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 and holder of a certain Mortgage
executed by Virtul C. Lindsey to COLLIER COUNTY, recorded on 01/27/2011 in Official Records
Book 4646, Page 2282, of the Public Records of Collier County, Florida, securing a principal sum of
56,954 and certain promises and obligations set forth in said Mortgage, upon the property described in the
aforementioned mortgage hereby acknowledges satisfaction of said Mortgage, surrenders the same as
cancelled, and 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 -
, 2015, Agenda Item Number
ATTEST: BOARD OF COUNTY COMMISSIONERS
DWIGHT E.BROCK, CLERK OF COLLIER COUNTY, FLORIDA
By: By:
,DEPUTY CLERK TIM NANCE, CHAIRMAN
Approval for form and legality:
Jennifer A.Belpedio
Assistant County Attorney `.�
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