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#** FILED: LAKE COUNTY, FL NEIL KELLY, CLERK. ***
Electronically Filed 07/19/2013 04:50:26 PM ET
IN THE CIRCUIT COURT OF THE FIFTH
JUDICIAL CIRCUIT IN AND FOR LAKE
COUNTY, FLORIDA
BAC FLORIDA BANK,
Plaintiff,
vs. CASE NO.:
CATHERINE McCLEAN A/K/A KATHLEEN
McCLEAN; JOHN FRANCIS McCLEAN; CLEAR
CREEK OF LAKE COUNTY HOA, _INC.;
UNKNOWN TENANT I; UNKNOWN TENANT
Il,
Defendants.
CERTIFICATION OF POSSESSION OF ORIGINAL PROMISSORY NOTE
Under penalty of perjury, the undersigned certifies:
1. Plaintiff BAC FLORIDA BANK (‘Plaintiff’) is in possession of the original
promissory note (the “Note”) in the above-captioned litigation.
2. The Note is located at: 169 Miracle Mile Coral Gables, Florida 33134.
3. The undersigned personally verified Plaintiffs possession of the Note at
10.00a.m.on July 2, 2013.
4, A correct copy of the Note is attached hereto.
“nee BANK'
By: Luis Moncada
Its: Manger Risk Mitigation
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
Sworn to and subscribed before me this __o& day of So \y » 2013,
by Leis Mascasea ; who is persgnally known to me and who did take an oath.
NOTARY PUBLIC
MERIE NOEL AYALA
Notary Public - State of Florida
My Comm. Expires May 18, 2016
Commission # EE 177165
Bonded Through National Notary Asso.ADJUSTABLE RATE NOTE
(1 Year Treasury Index - Rate Caps)
THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND
MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY INTEREST: RATE CAN
CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE | MUST PAY.
May 16, 2007 CLERMONT FLORIDA
[Date] city} [State]
1200 CLEAR CREEK CIRCLE, CLERMONT, FLORIDA 34714
{Property Address}
1, BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U.S. $183,300.00
plus interest, to the order of the Lender. The Lender is BAC FLORIDA BANK
(this amount is called "Principal"),
I will make all payments under this Note in the form of cash, check or money order.
I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is
entitled to receive payments under this Note is called the "Note Holder."
2, INTEREST
Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at a yearly
rate of 7.2500 %. The interest rate I will pay will change in accordance with Section 4 of this Note.
The interest rate required by this Section 2 and Section 4 of this Note is the rate I will pay both before and after any
default described in Section 7(B) of this Note.
3. PAYMENTS
(A) Time and Place of Payments
I will pay principal and interest by making a payment every month.
I will make my monthly payment on the first day of each month beginning on July 1, 2007
I will make these payments every month until I have paid all of the principal and interest and any other charges described below
that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to
interest before Principal. If, on June 1, 2037 , I still owe amounts under this Note, I will pay those amounts in
full on that date, which is called the "Maturity Date."
I will make my monthly payments at 169 MIRACLE MILE, R-10
CORAL GABLES, FLORIDA 33134
or at a different place if required by the Note Holder.
(B) Amount of My Initial Monthly Payments
Each of my initial monthly payments will be in the amount of U.S. $ 1,250.43 . This amount may change.
(C) Monthly Payment Changes
Changes in my monthly payment will reflect changes in the unpaid principal of my loan and in the interest rate that I must
pay. The Note Holder will determine my new interest rate and the changed amount of my monthly payment in accordance with
Section 4 of this Note.
1418905723
FLORIDA ADJUSTABLE RATE NOTE - ARM 5-2 - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Fannie Mae 4-2/5-2/6-2 ARM Form 3502.10 1/01
Zp,-822N(FL) (0009) | Modified for Endorsement
VMP MORTGAGE FORMS - (800)521-7291
Page 1 of 4 intiis: CMM ge
20303-014, INTEREST RATE AND MONTHLY PAYMENT CHANGES
(A) Change Dates
The interest rate I will pay may change on the first day of June, 2010 , and on that day every 12th month
thereafter. Each date on which my interest rate could change is called a "Change Date."
(B) The Index
Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield
on United States Treasury securities adjusted to a constant maturity of one year, as made available by the Federal Reserve
Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index."
If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information.
The Note Holder will give me notice of this choice.
(C) Calculation of Changes
Before each Change Date, the Note Holder will calculate my new interest rate by adding Three and One Fourth
percentage points ( 3.2500 %) to the Current Index. The
Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to
the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date.
The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid
principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal
payments, The result of this calculation will be the new amount of my monthly payment.
(@) Limits on Interest Rate Changes
The interest rate I am required to pay at the first Change Date will not be greater than 9.2500 % or less
than 5,2500%. Thereafter, my interest rate will never be increased or decreased on any single Change Date by
more than two percentage points (2.0%) from the rate of interest I have been paying for the preceding 12 months. My
interest rate will never be greater than 13.2500 %.
(E) Effective Date of Changes
My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment
beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again.
(F) Notice of Changes
The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly
payment before the effective date of any change. The notice will include information required by law to be given to me and also
the title and telephone number of a person who will answer any question I may have regarding the notice.
5. BORROWER'S RIGHT TO PREPAY SEE ATTACHED PREPAYMENT PENALTY ADDENDUM OR RIDER WHICH AMENDS THIS SECTION.
T have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a
"Prepayment." When I make a Prepayment, I will tell the Note Holder in writing that I am doing so. I may not designate a
payment as a Prepayment if I have not made all the monthly payments due under the Note.
I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my
Prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my
Prepayment to the accrued and unpaid interest on the Prepayment amount, before applying my Prepayment to reduce the
Principal amount of the Note. If I make a partial Prepayment, there will be no changes in the due dates of my monthly payment
unless the Note Holder agrees in writing to those changes. My partial Prepayment may reduce the amount of my monthly
payments after the first Change Date following my partial Prepayment. However, any reduction due to my partial Prepayment
may be offset by an interest rate increase.
6. LOAN CHARGES
Ifa law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other
loan charges collected or to be collected in connection with this 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
1418905723
Form 3502.10 1/04
(BD, 822N (FL) (0009) Modified for Endorsement Page 2 of 4 rnwiare (MAC A
20303-02
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|me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the
Principal I owe under this Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated
as a partial Prepayment.
7. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) Late Charges for Overdue Payments
If the Note Holder has not received the full amount of any monthly payment by the end of Ten calendar days
after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be 7.0000 % of
my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment.
(B) Default
IfI do not pay the full amount of each monthly payment on the date it is due, I will be in default.
(C) Notice of Default
If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a
certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been paid and all
the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is mailed to me or
delivered by other means.
(D) No Waiver By Note Holder
Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described
above, the Note Holder will still have the right to do so if I am in default at a later time.
(E) Payment of Note Holder's Costs and Expenses
If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be
paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those
expenses include, for example, reasonable attorneys’ fees.
8. GIVING OF NOTICES
Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by
delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note
Holder a notice of my different address.
Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first
class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that
different address.
9. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in
this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is
also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety
or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights
under this Note against each person individually or against all of us together. This means that any one of us may be required to
pay all of the amounts owed under this Note.
10. WAIVERS
I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor.
"Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the
right to require the Note Holder to give notice to other persons that amounts due have not been paid.
11. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the
Note Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"), dated the same date as
this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this
Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full
of all amounts I owe under this Note. Some of those conditions are described as follows:
1418905723 Form 3502.10 1/04
@, -822N(FL) (0008) Modified for Endorsement Page 3 of & intial CLEC
20303-03If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is
not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior
written consent, Lender may require immediate payment in full of all sums secured by this Security
Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by
Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender
information required by Lender to evaluate the intended transferee as if a new loan were being made to the
transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan
assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is
acceptable to Lender. ,
To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to
Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption
agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and
agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under
the Note and this Security Instrument unless Lender releases Borrower in writing.
If Lender exercises the option to require immediate payment in full, 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 given in
accordance with Section 15 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.
12, DOCUMENTARY TAX
The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
7 "
? - Ae a7 .
Catheriace LUC Caer. eal) Loa Ul Lion (Seal)
CATHERINE MC CLEAN “Borrower “* JOHN FRANCIS MC CLEAN “Borrower
(Seal) (Seal)
-Borrower Borrower
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower ~Borrower
[Sign Original Only]
1418905723
822N(FL) (0009) Modified for Endorsement Page 4 of 4 Form 3502.10 1/04
DB,
mn) 20303-04