Preview
Filing # 168965208 E-Filed 03/17/2023 12:10:34 PM
IN THE CIRCUIT COURT OF THE NINETEENTH
JUDICIAL CIRCUIT IN AND FOR OKEECHOBEE COUNTY, FLORIDA
CIVIL ACTION
BANK OF AMERICA, N.A., CASE NO.:
Plaintiff,
vs. DIVISION:
ROBERT HOLLEY A/K/A ROBERT G. HOLLEY II A/K/A ROBERT HOLLEY Hi; THE UNKNOWN
HEIRS OF JOSEPH FLANAGAN, JR, DECEASED; DIANA PADGETT; UNKNOWN PARTY # 1,
UNKNOWN PARTY #2, UNKNOWN PARTY #3 AND UNKNOWN PARTY #4, THE NAMES BEING
FICTITIOUS TO ACCOUNT FOR PARTIES IN POSSESSION,
Defendant(s).
/
VERIFIED MORTGAGE FORECLOSURE COMPLAIN
Plaintiff, Bank of America, N.A., sues Defendants, Robert Holley a/k/a Robert G. Holley Il a/k/a Robert G.
Holley; The Unknown heirs of Joseph Flanagan, Jr, deceased; Diana Padgett, Unknown Party # 1, Unknown Party
#2, Unknown Party #3 and Unknown Party #4, the names being fictitious to account for parties in possession, and
alleges:
COUNT I- MORTGAGE FORECLOSURE
1 This is an in rem action to foreclose a mortgage on real property (hereinafter 'Property') located
and situated in Okeechobee County, Florida.
2. On or about August 11, 2006, Borrower(s) Robert G. Holley, I] executed and delivered an Equity
Maximizer Agreement and Disclosure Statement (“Agreement”) and a Mortgage securing the payment of the
Agreement. The Mortgage was recorded on October 2, 2006, in Official Records Book 00612 at Page 0432 of the
Public Records of Okeechobee County, Florida, (All subsequent recording references are to the public records of
Okeechobee County, Florida) and mortgaged the real and personal property ("Property") described therein, then
owned by and in possession of the Mortgagor(s). Copies of the Original Agreement and Mortgage are attached
hereto.
3 Plaintiff's attorney, acting as Plaintiff's agent, is in possession of the Agreement endorsed in blank
which is the subject of this action and therefore, the Plaintiff is the holder of that Agreement, and has the right to
foreclose.
4. The Property is now owned of record by Defendants, Robert Holley a/k/a Robert G. Holley II
a/k/a Robert G. Holley and Diana Padgett.
5. The Agreement and Mortgage are in default. The required installment payment of November 1,
2021, was not paid, and no subsequent payments have been made. The Mortgage is contractually due for the
November 1, 2021 payment. The last payment received was applied to the October 1, 2021 installment, and no
subsequent payments have been applied to the loan.
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Electronically Filed Okeechobee Case # 2023000181CAAXMX 03/17/2023 12:10:34 PM
6. Plaintiff declares the full amount payable under the Agreement and Mortgage to be now due.
7. Plaintiff must be paid $121,525.90 in principal on the Agreement and Mortgage, together with
interest from October J, 2021, late charges, and all costs of collection including title search expenses for
ascertaining necessary parties to this action and reasonable attorney's fees.
8 All conditions precedent to the acceleration of the Agreement and foreclosure of the Mortgage
have been performed or have occurred.
9. Plaintiff has retained the law firm of Albertelli Law in this action and is obligated to pay it a
reasonable fee for its services in bringing this action as well as all costs of collection. Plaintiff shall be entitled to an
award of any fees and costs incurred in this action based on the terms of the instruments upon which this action is
based.
10. The interests of each Defendant are subject, subordinate, and inferior to the right, title, interest,
and lien of Plaintiff's Mortgage, unless as otherwise provided for by law.
11, Robert Holley a/k/a Robert G. Holley II a/k/a Robert G. Holley may have or claim an interest in
the Property that is the subject of this Foreclosure action by virtue of a Quit claim Deed recorded in Official Records
Book 00596, Page 0730, or may otherwise claim an interest in the Property.
12. The Unknown heirs of Joseph Flanagan, Jr, deceased may have or claim an interest in the Property
that is the subject of this Foreclosure action by virtue of possible defects in that certain Quit Claim Deed recorded in
Official Records Book 00596 at Page 0730 relating to a defective legal description, which defect renders the deed
ineffective to convey the property. A reformation count has been included in our foreclosure action to correct said
defect, or may otherwise claim an interest in the Property.
13. Diana Padgett may have or claim an interest in the Property that is the subject of this Foreclosure
action by virtue of a Quit claim Deed recorded in Official Records Book 00596, Page 0730, or may otherwise claim
an interest in the Property.
14, Unknown Party #1, Unknown Party #2, Unknown Party #3 and Unknown Party #4, the names
being fictitious to account for parties in possession who may claim some interest in the Property that is the subject of
this foreclosure action by virtue of an unrecorded lease or purchase option, by virtue of possession, homestead rights
not readily apparent from a review of the public records or may otherwise claim an interest in the Property. The
ames of these Defendants are currently unknown to the Plaintiff. However, any such claim or demand is inferior to
the lien of the Mortgage.
WHEREFORE, Plaintiff requests that the court ascertain the amount due Plaintiff for principal and
interest on the Agreement and Mortgage and for late charges, abstracting, taxes, expenses and costs, including
attorney’s fees, plus interest thereon; that if the sums due Plaintiff under the Agreement and Mortgage are not paid
immediately, the court foreclose the Mortgage and the Clerk of the Court sell the Property securing the indebtedness
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to satisfy Plaintiff's mortgage lien in accordance with the provisions of Section 45.031, Florida Statues (1999); that
the rights, title and interest of any Defendant, or any party claiming by, through, under or against any Defendant
named herein or hereafter made a Defendant be forever barred and foreclosed; that the Court appoint a receiver of
the Property and of the rents, issues, income and profits there, or in the alternative, order sequestration of rents,
income and profits pursuant to Section 697.07, Florida Statutes (1995); and that the court retain jurisdiction of this
action to make any and all further orders and judgments as may be necessary and proper, including the issuance of a
writ of possession and the entry of a deficiency decree, when if such deficiency decree shall appear proper, if
borrower(s) has not been discharged in bankruptcy.
COUNT II - REFORMATION OF QUIT CLAIM DEE
15, This is an action to reform a Quit Claim Deed that has been recorded in the Public Records of
Okeechobee County, Florida. This is an equitable action with no adequate remedy at law.
16, At all times material to this cause, Defendant owned real property (hereinafter “Property” in
Counts I & IL) in Okeechobee County, Florida, more particularly described as follows:
LOT 1, LOT 2 AND LOT 3, BLOCK 39, FIRST ADDITION TO SOUTH OKEECHOBEE, ACCORDING
TO THE PLAT THEREOF AT PLAT BOOK 1, PAGE 17 PUBLIC RECORDS, OKEECHOBEE
COUNTY, FLORIDA.
This is evidenced by a true and correct copy of the Warranty Deed as shown recorded in Official Records
Book 433 at Page 1770, attached hereto as an exhibit.
17. On April 7, 2006, Joseph Flanagan, Jr., First Party, executed and delivered to Robert Holley and
Diana Padgett, Second Party, a Quit Claim Deed that was recorded in Official Records Book 596, Page 730, of the
Public Records of Okeechobee County, Florida.
18. Inadvertently, and contrary to the clear intentions of the parties to the Quit Claim Deed, a
scrivener’s error resulted from mutual mistake. Consequently, the legal description contained an incomplete
description, as reflected below:
Ist Addition to South Okeechobee, Lots 1,2,3, Block 39.
19, Based on these errors, the document may not accurately reflect the intentions of the parties to the
Quit Claim Deed.
20. Equity requires that this Court reform the legal description to conform with the legal description
set forth in paragraph sixteen (16) above.
21. The reformation sought will not prejudice any parties to this action.
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WHEREFORE, Plaintiff requests that the Court reform the legal description in the Quit Claim Deed to
correct the scrivener’s error and to reflect the true intentions of the parties.
COUNT Il —- REFORMATION OF MORTGAGE
22. This is an action to reform a Mortgage that has been recorded in the Public Records of
Okeechobee County, Florida. This is an equitable action with no adequate remedy at law.
23. At all times material to this cause, Defendant owned real property in Okeechobee County,
Florida, more particularly described as follows:
LOT 1, LOT 2 AND LOT 3, BLOCK 39, FIRST ADDITION TO SOUTH OKEECHOBEE, ACCORDING
TO THE PLAT THEREOF AT PLAT BOOK 1, PAGE 17 PUBLIC RECORDS, OKEECHOBEE
COUNTY, FLORIDA,
This is evidenced by the true and correct copy of the Warranty Deed as shown recorded in Official Records
Book 433 at Page 1770 attached hereto as an Exhibit.
24. On August 11, 2006, Robert G. Holley II and Diana Padgett executed and delivered to Bank of
America, N.A., a Mortgage that was recorded on October 2, 2006, in Official Records Book 612 at Page 432 of the
Public Records of Okeechobee County, Florida. A true and correct copy of the Mortgage is attached hereto as an
exhibit.
25. Inadvertently, and contrary to the clear intentions of the parties to the Mortgage, a scrivener's error
resulted from mutual mistake. Consequently, the legal description contained an incomplete description, as reflected
below:
1st Addition to South Okeechobee, Lots 1,2,3, Block 39.
26. Based on these errors, the document does not accurately reflect the intentions of the parties to the
Mortgage.
27. Equity requires that the Court reform the legal description to conform with the legal description
set forth in paragraph twenty-three (23) above.
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28. The reformation sought will not prejudice any parties to this action.
WHEREFORE, the Plaintiff requests that the Court reform the legal description in the Mortgage to correct
the scrivener's error and to reflect the true intentions of the parties.
FLA. R. CIV. P. 1.115(e) VERIFICATIO!
Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein are true and
correct to the best of my knowledge and belief.
By: Ke ANS
Printed Name: _ Justin Time Harris on
Title: eeAssistant Vice President
Bank Of America, N.A.
Date: DALSS:
Plaintiff, by and through the undersigned attorney, prays this honorable Court grant the above requested
relief and such other relief deemed appropriate and just.
Albertelli Law
PO Box 23028
Tampa, FL 33623
(813) 221-4743
(813) 221-9171 facsimile
eService: servealaw@albertellilaw.com
By: /s/ Justin Ritchie
Florida Bar #106621
Justin Ritchie, Esq.
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IN THE CIRCUIT COURT OF THE NINETEENTH JUDICIAL CIRCUIT
IN AND FOR OKEECHOBEE COUNTY, FLORIDA
CIVIL DIVISION
BANK OF AMERICA, N.A.,
Plaintiff,
CASE NO.:
VS.
DIVISION NO.:
ROBERT HOLLEY A/K/A ROBERT G. HOLLEY
H A/K/A ROBERT G. HOLLEY, et al,
Defendant(s).
CERTIFICATION OF POSSESSION OF THE ORIGINAL EQUITY MAXIMIZER
AGREEMENT AND DISCLOSURE STATEMENT PURSANT TO
FLORIDA STATUES § 702.015(4)
1, Alma Santos, individually or as an employee of Albertelli Law being sworn, certify under penalty of
perjury that the following information is true:
1 Plaintiff is in possession of the Original Equity Maximizer Agreement and Disclosure
Statement (“Equity Maximizer Agreement and Disclosure Statement”). The original Equity Maximizer
Agreement and Disclosure Statement has been delivered to Albertelli Law as Plaintiff's counsel, Albertelli
Law is in possession of the Original Equity Maximizer Agreement and Disclosure Statement as counsel for
Plaintiff, and will file same with the Court prior to the hearing on the Motion for Suromary Final Judgment.
2 The current location of the Original Equity Maximizer Agreement and Disclosure
Statement is the office of Albertelli Law at 5404 Cypress Center Drive, Suite 300, Tampa, FL 33609.
3 Counsel has been retained to represent Bank Of America, N.A. in legal proceedings to
enforce an Equity Maximizer Agreement and Disclosure Statement secured by a property located at 1902
SW 2nd Ave Okeechobee, FL 34974.
4 The name and title of the individual giving this certification is Alma Santos, Document
Custodian, for Albertelli Law.
5. The name of the person who personally verified possession of the Original Equity
Maximizer Agreement and Disclosure Statement is Alma Santos.
6. The time and date on which the possession of the Original Equity Maximizer Agreement
and Disclosure Statement was verified on is 8/22/2022 at 10:41 AM.
7 A true and correct copy of Original Equity Maximizer Agreement and Disclosure
Statement and all allonges and assignments, if applicable, are attached to this certification.
Attomeys for eM ee S
Signature
Alma Santos
Print
Document Custodia:
Title
August 22, 2022
Date
STATE OF lorida
COUNTY OF Hillsborough
SWORN AND SUBSCRIBED BEFORE ME THIS aa DAY OF
wgust
202 BY Rime Sones WHO IS PERSONALLY KNOWN TO ME
AND WHO DID TAKE AN OATH
«
Notary Public ~ State of Florida
22-002849
Coke F E
OMMISSION # HH 907
eefe EXPIRE S: October 26, 2024
BANK OF AMERICA EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE
AccouNT NUMBER Jy
Borrower: ROBERT G HOLLEY tt enger: Bank of America, NA.
1902 SW 2ND AVE 100 North Tryon Street
OKEECHOBEE, FL 34974-6145 Charlotte, NC 28255
ee
CREDIT LIMIT: $184,000.00 DATE OF AGREEMENT: August 11, 2006+»
ee
introduction. This Bank cf America Equity Maximizer Agreement and Disclosure Statement ["Agreement") governs your line of credit (the #
“Credit Line" or the “Credit Line Account") issued through Bank of America, N.A.. In this Agreement, the words “Borrower,” “you, * your.”
and “Applicant” mean each and every person who signs this Agreement, including all Borrowers named above. The words "we,"."us," “ ‘our,
and “Lender” mean Bank of America, N.A.. You agree to the following terms and conditions:
Promise to Pay, You promise to pay Bank of America, N.A., or order, the total of all credit advances and FINANCE CHARGES. together with all
costs and expenses for which you are responsible under this Agreement or under the “Mortgage” which secures your Credit Line. You wil pay
your Credit Line according to the payment terms set forth below. Hf there is more than one Borrower, each is jointly and severally liable on this
Agreement. This means we can require any Borrower to pay all amounts due under this Agroomont, including credit advances mada to any
Borrower. Each Borrower authorizes any other Borrower, on his or har signature sone, to cancel the Credit Ling, to request and receive credit
advances, and to do afl other things necessary to carry out the terms of this Agreement. We can release any Borrower from responsibility under
this Agreement, and the others will remain responsible,
Term. The term of your Credit Line will begin as ef the date of this Agreement ("Opening Date") and wil continue until August 71, 2037
"Maturity Date"). Ail indebtedness under this Agreement, if not already paid pursuant to the payment provisions below, will bo due and
payable upon maturity. Tha draw period of your Credit Line will begin on a date, after the Opening Data, when the Agreement is acceptad by us
in the State of North Carolina, following the expiration of the right to cancel, the perfection of the Mortgage, the receipt of all required
certificates of noncencellation, and the meeting of all of our other conditions and will continue as follows: 120 months. ‘You may obtain credit
advances during this period ("Draw Period"). After the Draw Period ends, the repayment period will begin and you will no tanger be able to
obtain credit advances. The fength of the repayment period ig as follows: up to 180 months depending on the payment schedule set forth
below. You agree that we may renew or extend the period during which you may obtain credit advances or make payments. You further agree
that we may renew or extend your Credit Line Account.
Minimum Payment.
During the Draw Period. The "Total Minimum Payment Due” is equal to the Variable Rate Balance Minimum Payment {below}, the payment due,
if any, for any outstanding Fixed Rate Option and any past duo amounts from prior billing periods. {Some Fixed Rate Options may have a
different due date and are not figured in the calculation of the Total Minimum Payment Duo.) At any time you may pay more than the Tote!
Minimum Payment Due, make additional payments or pay in full or in part the Outstanding Balance. The "Outstanding Balance” is the new
balence of the Credit Line (which, if applicable, includes principal, accrued interest on the outstanding principal, fees end charges, Property
Expanses idefinad as any expense which we incur because you do not fulfill all obligations of this Agreement or if you or another party docs not
fulfill all obligations of the security instrument for the property which secures this Agreement) and any voluntary insurance or Borrowers
Protection TM Plan.) We reserve the right to apply payments in any manner we choose, without notice. Your "Variable Rate Balance" is all of
your Outstanding Balance that is not part of a Fixed Rate Option,
You may choose any of the following monthly and quarterly Oraw Period payment options. Your billing statement will reflect the option you
have chosen. You may also change your Draw Period payment option at a later time.
Variable Rate Balance Minimum Payment - Depending on what payment schedule option you choose for the Draw Period, the Variable Rate
Balance Minimum Payment may very. The Variable Rate Balance Minimum Payment will rot be less than the amount of accrued interest and
any voluntary insurance, plus any unpaid fees.
Monthly Payment Options:
interest Only (Plus Insursnce) Option - The Minimum Payment will be the amount of accrued interest, plus any voluntary insurance and
unpaid fees,
.5% of Vatiable Rate Outstanding Balance Option ~ The Minimum Payment will be one and one half percent {1.5%} of the Variable Rate
Outstanding Balance plus any unpaid fees, or fifty dollars ($50), whichever is greater, or the Variable Rate Outstanding Balance if less than
the Minimum Payment.
Fixed Payment Option - The Minimum Payment will be at teast one and one half percent (1.5%) of the Credit Line plus any unpaid fees, or
fifty dollars ($50), whichever is greater, or the Variable Rate Outstanding Balance if fess than the Minimum Payment.
Quarterly Payment Options:
interest Only Option - The Minimum Payment will be the amount of accrued interest and unpaid fees.
4.5% of Variable Rate Outstanding Balance Option - The Minimum Payment will be four and one half percent (4.5%) of the Variable Rate
Outstanding Belance plus any unpaid fees, or one hundred fifty dollars ($150), whichever is greater, or the Variable Rave Outstanding
Balance if less than the Minimum Payment.
Fixed Payment Option - The Minimum Payment will be at feast four and one half percent (4.5%) of the Credit Line plus any unpaid fees, or
one hundred fifty dollars ($150), whichever is greater, or the Variable Rate Outstanding Balance if less than the Minimum Payment.
During the Repayment Period. The payment frequency you select for the Draw Periad is the same for the repayment period. The length of the
repayment period will vary depending on the Outstanding Balance at the beginning of the repayment period, if any Property Expenses are
incurred during the repayment period and it you have any Fixed Hate Options, The amount ot the Tota! imum Payment Due may vary due to
increases or decreases in the Index of if there are any Fixed Rate Options that remain unpoid at the beginning of the repayment period.
You may choose either the following monthly or quarterly repayment period payment option. Your biliing stetement will reflect the option you
have chosen. You may also change your repayment period payment option at a later time.
Monthly Payment Option - The Total Minimum Payment Due will be an amount equal to the greater of five hundred fifty-five thousandths of
one percent (0.555%) or one one hundred and eightieth (1/180) of the Variable Rata Principal Balance remaining on the last day of the Draw
Period, plus accrued interest, unpaid fees, unpaid Property Expenses and any voluntary insurance, or fifty dollars ($50). If there are any Fixed
Rate Loan Options that remain unpaid at the start of the Repayment Period, the Fixed Rate Lean Option payments previously esteblished will
contisue to be billed.
BANK OF AMERICA’EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE STATEMENT
ME No: (Continued) Page 2
Quarterly Payment Option - The Total Minimum Payment Due will be an amount equal to the greater of one and six hundred sixty-six
thousandths of one percent (1.6660) or one sixtieth (1/60th) of the Variable Rate Principal Balance remaining on the last day of the Draw
Period, plus accrued interest, unpaid fees and unpaid Property Expenses, or one hundred fifty dollars ($150). If there are any Fixed Rate Loan
Options that remain unpeid at the start of the Repayment Period, the Fixed Rete Loan Option payments previously established will continue to
be billed.
How Your Payments Are Applied. Uniess otherwise agreed or required by applicable law, payments and other credits will be applied to
FINANCE CHARGES, other charges and fees, and principal in any order we choose without notice.
Reacaipt of Payments. All payments must be made by a check, automatic account debit, electronic funds transfer, money order. or other
instrument in U.S. dollars and must be received by us at the remittance address shown on your periodic billing statement. Payments received
at that address prior to 2:00 P.M. at the location specified, or a payment made at one of our banking centers in the state of our address first
described above, by 2:00 P.M. (Business days sre Monday through Friday, exclusive of legal holidays. If the due date falls on a Saturday,
Sunday or legal holiday, the due date will not be extended.) on any business day will be credited to your Credit Line as of the date received. {f
we receive payments at other locations, such payments will be credited promptly to your Credit Line, but crediting may be delayed for up to five
(5) days after receipt.
Credit Limit. This Agreement covers a revolving ine of credit tor the principal amount of One Hundred Eighty-four Thousand & 00/100 Dollars
($184,000.00), which will be your "Credit Limit” under this Agreement. During the Drew Period we will honor your request for credit advances
subject to the section below on Lender's Rights. You may borrow against the Credit Line, repay any portion of the amount borrowed, and
fe-borrow up to the amount of the Credit Limit. Your Credit Limit is the maximum amount you may have outstanding at any one time. You
agree not 10 attempt, request, or obtain.a credit advance that wilt make your Credit Line Account balance exceed your Credit Limit. Your Credit
Limit will not be inereaged should you overdraw your Credit Lino Account. if you exceed your Credit Limit, you agree to repay immediately the
amount by which your Credit Line Account exceeds your Credit Limit, even if we have not yet billed you. Any credit advances in excass of your
Credit Limit will not be secured by the Mortgage covering your principal dwelling.
Charges to your Credit Line. We may charge your Credit Line to pay other fees and costs that you are obligated to pay under this Agreement,
the Mortgage or any other document related to your Credit Line. in addition, we may charge your Credit Line for tunds required for continuing
insurance coverage as described In tho paragraph titled "Insurance" below or as described in the Mortgage for this transaction. We may alsa, et
our option, charge your Credit Line to pay any costs or expenses to protect or perfect our security interest in your principal dwelling. These
costs or expenses include, without limitation, payments to cure defaults under any existing liens on your principal dwelling. if you do not pay
your property taxes, we may charge your Credit Line and pay the delinquent taxes. Any arnount so charged to your Credit Line will be a credit
advance and will decrease the funds available, if any, under the Credit Line. However, we have no obligation to provide any of the credit
advances referred to in this paragraph.
Credit Advances. After the Effective Disbursement Date of this Agreement, you may obtain credit advances under your Credit Line as follows:
Credit Line Checks. Writing a preprinted "Special Convenience Check” that we will supply to you.
Telephone Request. Requesting a credit advance. from your Credit Line to be applied to your designated account by telephone. Except for
transactions covered by the federal Electronic Fund Transfers Act and unless otherwise agreed in your deposit account agreement, you
acknowledge and you agree that we do not accept responsibiity for the authenticity of telephone instructions and that we will not be fiable
for any loss, expense, or cost arising out of any telephone request, including any fraudulent or unauthorized telephone request, when acting
upon such instructions beliaved to be genuine.
Requests in Person. Requesting a credit advance in person at any of our suthorized locations.
ATM Access. Using your "Bank of America ATM card or Bark of America Check Card or Account Access Card” at any of our designated
ATM locations.
Accaunt Access. Using the Account Access Card as described in this Agreement.
if there is more than one person authorized to use this Credit Line Account, you agree not to give us conflicting instructions, woh as one
Borrower telling us not to give advances to the other.
Limitations on the Use of Checks. We reserve the right not to honor Special Convenience Checks in the following circumstances:
Credit Limit Violation, Your Credit Limit has been of would be exceeded by paying the Spacial Convenience Check.
Post-dated Checks. Your Special Convenience Check is post-dated. If a post-dated Special Convenience Check is paid and as a result any
other check is returned or not paid, we are not responsible.
Stolen Checks. Your Special Convenience Checks have been reported lost or stolen.
Unauthorized Signatures. Your Special Convenience Check is not signed by an “Authorized Signer” as defined below.
Termination or Suspension. Your Credit Line has been terminated or suspended as provided in this Agraement or could be if we paid the
‘Special Convenience Check.
Other Restriction. Other Limitations. (1) You may not make 8 payment on the Account with a Special Convenience Check. {2} You notify
us that you wish to stop payment of a Special Convenience Check; however you will not hold us liable if we try to stop payment of Special
Convenience Check and we are unable to do so. You may ty to stop payment on a Special Convenience Check by notifying Customer.
Service at the number lieted on your statement. Your stop payment order will remain in effect for six (6) months unless renewed.
if we pay any Special Convenience Chock under these conditions, you must repay us, subject to applicable lews. for the amount of the Special
Convenience Check. The Special Convenience Check itself wil be evidence of your debt te us together with this Agreement. Our fiability, if
any, for wrongful dishonor of a check is limited to your actual damages. Dishonor for any reason as provided in this Agreement is not wrongful
dishonor. We may choose not to return Special Convenience Checks along with your periodic billing statements; however, your use of each
Special Convenience Check will be reflected on your periodic statement as @ credit advance. We do not “certify” Spocial Convenience Checks
drawn on your Credit Line,
Limitations on the Use of ATM Cards, We reserve the right not to honor Bank of America ATM card or Bank of America Check Card or Account
Access Cards in the following circumstances:
Credit Limit Violation. Your Credit Limit has been or would be exceeded by honoring the Bank of America ATM card or Bank of America
Check Card or Account Access Card charge.
Stolen ATM Cards. Your Bank of America ATM card or Bank of America Check Card or Account Access Cards heve been reported lost or
stolen.
BANK OF AMERICA EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE STATEMENT
Loan No {Continued} Page 3
a sss es ss ses ee psssretnemttoemsrst
4
Termination or Suspension. Your Credit Line has been terminated or suspended as provided in this Agreement or could be if we honored
the Credit Line charge. ais
if we pay any advance requested by use of the Bank of Americe ATM card or Bank of America Check Card or Account Access Card under these
conditions, you must repay us, subject to applicable laws, for the amount of the advance. The advance itself will be evidence of your debt to us
together with this Agreement. Our liability, If any, fer wrongful dishonor of an advance is limited to your actual damages. Dishonor for any
reason as provided in this Agreement is not wrongful dishonor. Your use of the Bank of America ATM card or Bank of America Check Card or
Account Access Card will be reflected on your periodic statement es a credit advance.
wee
Transaction Requirements. The following transaction limitations will apply to the use of your Credit Line:
Account Access Limitations. The following transaction limitations will apply to your Credit Line and accessing by other methods.
Other Transaction Requirements. Based on state law, we may not be able to provide you with a Bank of America ATM card or Bank
of America Check Card or an Account Access card. We reserve the right not to honor Account access tinked to this Credit Line in the.
following circumstances:
Credit Limit Violation. Your Credit Limit has been or would be exceeded by paying the Account access transaction.
Stolen Account Access Card. Your Account Access Card has bean reported lost or stolen.
Unauthorized Signatures. Your Account Access Card is not used by a Borrower who has been issued one,
Termination or Suspension. Your Credit Line hes been terminated or suspended as provided in the Agreement or could te if we
paid the Account access transaction.
if we pay any advance requested by use of an Account access transaction under these conditions, you must repay us, subject to
applicable laws, for the amount of the advance. The advance itself will be evidence of your debt to us together with this Agreement.
Our liability, if any, for wrongful dishonor of an advance is limited to your actual damages. Dishonor for any reason as provided in this
Agreement is not wrongful dishonor. Your use of the Account Access Card will be reflected on your periodic statement as a credit
advance,
Liability for Unauthorized Account Access Card Transactions. You are not liable for unauthorized use of your Account Access Card,
just notify us promptly if you believe your Account Access Card has been lost or stolen or if you discover any unauthorized
iransactions. We may require you to provide a written statement regarding claims of unauthorized Account Access Card transactions.
Visa is a registored trademark of Visa internstional Service Association.
Lender's lability, if any, for wrongful dishonor of an advance request is limited to Borrower's actual damages. Lender shall not be
Hable if any merchant, financial institution or ATM refuses to honor the Account Access Card.
Credit Line Special Convenience Check, Telephone Request, in Person Request and ATM Access Limitations. There ave no transaction
‘limitations tor the writing of Special Convenience Checks, requesting an advance by telephone, requesting an advance in person or using an
Automated Transaction Machine ("ATM") eccess card.
Authorized Signars. The words "Authorized Signer" on Special Convenience Checks and Bank of America ATM card or Bank of America Check
Card or Account Access Cards as used in this Agreement mean and include each person who (a) signs the application for this Credit Line, (b}
signs this Agreement, or {c) has executed a separate signature authorization card for the Credit Line Account.
Lost Special Convenience Checks and Bank of America ATM card or Bank of Amorica Check Card or Account Access Cards. if you fose your
Special Convenisnce Checks or Bank of America ATM card or Bank of America Check Card or Account Access Cards or if someone is using
them without your permission, you agree to let us know immediately. You cen notify us at our address shown at the beginning of this
Agreement.
Future Credit Line Services. Your application for this Credit Line aiso serves as a request to receive any new services (such as access devices)
which may be available at some future time as one of our services in connection with this Credit Line. You understand that this request is
voluntary and that you may refuse any of these new services at the time they are offered. You further understand that the terms and conditions
of this Agreement will govern any transactions made pursuant to any of these new services.
Collateral. You acknowledge this Agreement is secured by the following collateral described in the security instrument listed herein: @ Mortgage
dated August 11, 2005, to us on real property located in OKEECHOBEE County, State of Florida,
Insurance. You must obtain Insurance on the Property securing this Agreement that is reasonably satisfactory to us. You may obtain property
insurance through any company of your choice that is reasonably satisfactory to us. You have the option of providing any insurance required
under this Agreement through an existing policy or @ policy independently obtained and paid for by you, subject te our right, for reasonable
cause before credit is extended, to decline any insurance provided by you. Subject to applicable law, it you fail to obtain or maintain insurance
as required in the Mortgage, we may purchase insurance to protect our own interest, add the premium to your balance, pursue any other
remedies available to us, or do any one or more of these things.
Periodic Statements. lf you have a balance owing on your Credit Line Account or have any account activity, we will send you a periodic
statement. it will show, among other things, credit advances, FINANCE CHARGES, other charges, payments made, other credits, your
“Previous Balance,” and your “New Balance.” Your statement aiso wiff identify the Minimum Payment you must make for that billing period
and the date it is due.
When FINANCE CHARGES Bagin to Accrue. Periodic FINANCE CHARGES for credit advances under your Credit Line will begin to accrue on the
date credit advances are posted to your Credit Line. There is ne "free ride period" which would allow you to avoid a FINANCE CHARGE on your
Credit Line credit advances,
HOW THE BALANCE ON WHICH THE FINANCE CHARGE IS CALCULATED IS DETERMINED. The cost of the credit through the Credit Line is
disclosed as @ Finance Charge. Except for some closing costs (indicated in this Agreement), interest will not accrue until a credit advance is
made. You will pay interest on each credit advance until itis fully paid off. We will determine the FINANCE CHARGE for each monthly billing
period by using the fo'lowing simple interest raie calculation. A FINANCE CHARGE is calculated daily for that portion of the principal balance
that is not payable under a Fixed Rate Option ("Variable Rate Principal Balance”) by multiplying the daily periodic rate {as indicated in “How The
Rate Used To Caiculate The Finance Charge is Determined ") by the daily Variable Rate Principal Balance. To get the daily Variable Rate
Principal Balance we (i) take the beginning Variabie Rate Principal Balance for that day {ii} add to that amount all credit advances and sums
advanced by us to fulfill eny obligations under a security instrument (such as a mortgage, deed of trust, or security egreement), if any, for that
day, then (iii) subtract all principal balance payments and credits for the Variable Rate Principal Belance for that day. All of the daily Variable
Rate Principal Balance FINANCE CHARGES for the monthly billing cycle are added to get the total Variable Rate Principal Balance FINANCE
CHARGE for the monthly billing cycle. Transaction charges, including but not limited to Fixed Rate Option conversion fees, are added to the
oo
BANK OF AMERICA’ EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE STATEMENT
OE No: RTE {Continued)
s
Page 4
ws s os we se
Variable Rate Principal Balance FINANCE CHARGE to get the total FINANCE CHARGE for the monthly billing cycle. For Fixed Rate Option
belances, the estimated FINANCE CHARGE is calculated at the establishment of the Fixed Rate Option and is included in the fixed payment
amount.
HOW THE RATE USED TO CALCULATE THE FINANCE CHARGE IS DETERMINED. The initial Variable Rate Principal Balance daily periodic rate
used to compute the Veriable Rate Principal Balance FINANCE CHARGE is 1/265 of the initial Variable Rate Principal Balance ANNUAL
PERCENTAGE RATE {as indicated under “Periodic Rate and Corresponding Annual Percentage Rate"). The Veriable Rate Principal Balence
ANNUAL PERCENTAGE RATE is a variable rate involving both an index anc a margin, both described under “Periodic Rate and Corresponding
Annua! Percentage Rate". Finance Charges will accrue on an actual 365 day yeer basis (366 day year basis for leap year}. If, however, you
participate in a relationship account with a Bank of America Corporation affiliate (as offered from tima to time, the Variable Rate Principal
Balance Dally Periadic Rate and the Variable Rate Principal Annual Percentage Rate may be reduced below the rates stated in this Agreement.
The addition of a fee may cause the actual Variable Rate Principal Balance Annual Percentage Rate for the monthly billing cycle to exceed the
Variable Rate Principal Ba‘ance Annual Percentage Rate stated in this Agreement.
if the Index is unavailable for any monthly biling cycle, we will use the Index for the most recently preceding monthly billing cycle in which the
index was available. If the Index ceases to be published during the term of this Agreement, we will select a substitute index and margin. The
substitute index will be o historical movement substantially similar to the Index, and the substitute index and margin will result in an Annual
Percentage Rate at the time it is substituted that is substantially similar to the rate in effect at the time the Index became unavailable.
There is no limitation on the size of any interest rate adjustment or the number of interest rate adjustments that may be made on the Credit Line
so fong as the maximum Annual Percentage Rate is not exceeded. Any increase or decrease in the Index that occurs would cause a
corresponding increase or decrease in the Daily Periodic Rate, Annual Percentage Rate, Finance Charges and possibly the Total Minimum
Payment Due. You understand that adjustments based on an incex change will be applied automatically to the Credit Line and you will not
receive advance notice of thet adjustment.
The Finance Charge on a Fixed Rate Option is determined on a simple interest basis. If you make a Fixed Rate Option payment(s} before or efter
any date, either the amount of your originally scheduled fino! payment may be lower or higher than the amount initially established or additional
payment(s) may he required.
Under some circumstances, your payment will not cover the Finance Charges that accrue and negative amortization will occur. Negative
amortization will increase the total amount you may pay us and reduce the equity in the Property.
Periodic Rate and Corresponding ANNUAL PERCENTAGE RATE. We will determine the Periodic Rate and the corresponding ANNUAL
PERCENTAGE RATE as follows. We start with an independent index which is the Prime Rate as published daily in the "Money Rates” table of
The Wall Street Journal. When a range of rates has been published, the higher of the rates will be used. Changes in the Annual Percentage Rate
will be based on the index published the last business day prior to the first day of the next monthly billing cycle, plus the Margin, and will be
effective on the first day of the next monthly billing cycle (the “Index”). We will use the most recent index value available to us as of the date
of any ANNUAL PERCENTAGE RATE adjustment. The Index is not necessarily the lowest rate charged by us on our loans. if the Index
becomes unavailable during the term of this Credit Line Account, we may designate a substitute index after notice to you. To determine the
Periodic Rate that will apply to your First Payment Stream, we subtract a margin from the value of the index, then divide the vaiue by the
number of deys in a year (daily). To obtain the ANNUAL PERCENTAGE RATE we multiply the Periodic Rate by the number of days in a year
idaily), This result is the ANNUAL PERCENTAGE RATE for your First Payment Stream, To determine the Periodic Rate that will apply to your
Second Payment Stream, we subtract a margin from the vaiue of the index, then divide the value by the number of days in a year (daily), To
obtain the ANNUAL PERCENTAGE RATE we multiply the Periodic Rate by the number of days in.a year (daily), This result is the ANNUAL
PERCENTAGE RATE for your Second Payment Stream. The ANNUAL PERCENTAGE RATE includes only interest and no other costs.
The Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE on your Credit L
Preview
Filing # 168965208 E-Filed 03/17/2023 12:10:34 PM IN THE CIRCUIT COURT OF THE NINETEENTH JUDICIAL CIRCUIT IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL ACTION BANK OF AMERICA, N.A., CASE NO.: Plaintiff, vs. DIVISION: ROBERT HOLLEY A/K/A ROBERT G. HOLLEY II A/K/A ROBERT HOLLEY Hi; THE UNKNOWN HEIRS OF JOSEPH FLANAGAN, JR, DECEASED; DIANA PADGETT; UNKNOWN PARTY # 1, UNKNOWN PARTY #2, UNKNOWN PARTY #3 AND UNKNOWN PARTY #4, THE NAMES BEING FICTITIOUS TO ACCOUNT FOR PARTIES IN POSSESSION, Defendant(s). / VERIFIED MORTGAGE FORECLOSURE COMPLAIN Plaintiff, Bank of America, N.A., sues Defendants, Robert Holley a/k/a Robert G. Holley Il a/k/a Robert G. Holley; The Unknown heirs of Joseph Flanagan, Jr, deceased; Diana Padgett, Unknown Party # 1, Unknown Party #2, Unknown Party #3 and Unknown Party #4, the names being fictitious to account for parties in possession, and alleges: COUNT I- MORTGAGE FORECLOSURE 1 This is an in rem action to foreclose a mortgage on real property (hereinafter 'Property') located and situated in Okeechobee County, Florida. 2. On or about August 11, 2006, Borrower(s) Robert G. Holley, I] executed and delivered an Equity Maximizer Agreement and Disclosure Statement (“Agreement”) and a Mortgage securing the payment of the Agreement. The Mortgage was recorded on October 2, 2006, in Official Records Book 00612 at Page 0432 of the Public Records of Okeechobee County, Florida, (All subsequent recording references are to the public records of Okeechobee County, Florida) and mortgaged the real and personal property ("Property") described therein, then owned by and in possession of the Mortgagor(s). Copies of the Original Agreement and Mortgage are attached hereto. 3 Plaintiff's attorney, acting as Plaintiff's agent, is in possession of the Agreement endorsed in blank which is the subject of this action and therefore, the Plaintiff is the holder of that Agreement, and has the right to foreclose. 4. The Property is now owned of record by Defendants, Robert Holley a/k/a Robert G. Holley II a/k/a Robert G. Holley and Diana Padgett. 5. The Agreement and Mortgage are in default. The required installment payment of November 1, 2021, was not paid, and no subsequent payments have been made. The Mortgage is contractually due for the November 1, 2021 payment. The last payment received was applied to the October 1, 2021 installment, and no subsequent payments have been applied to the loan. = 22-002849 Page 1 of 5 Electronically Filed Okeechobee Case # 2023000181CAAXMX 03/17/2023 12:10:34 PM 6. Plaintiff declares the full amount payable under the Agreement and Mortgage to be now due. 7. Plaintiff must be paid $121,525.90 in principal on the Agreement and Mortgage, together with interest from October J, 2021, late charges, and all costs of collection including title search expenses for ascertaining necessary parties to this action and reasonable attorney's fees. 8 All conditions precedent to the acceleration of the Agreement and foreclosure of the Mortgage have been performed or have occurred. 9. Plaintiff has retained the law firm of Albertelli Law in this action and is obligated to pay it a reasonable fee for its services in bringing this action as well as all costs of collection. Plaintiff shall be entitled to an award of any fees and costs incurred in this action based on the terms of the instruments upon which this action is based. 10. The interests of each Defendant are subject, subordinate, and inferior to the right, title, interest, and lien of Plaintiff's Mortgage, unless as otherwise provided for by law. 11, Robert Holley a/k/a Robert G. Holley II a/k/a Robert G. Holley may have or claim an interest in the Property that is the subject of this Foreclosure action by virtue of a Quit claim Deed recorded in Official Records Book 00596, Page 0730, or may otherwise claim an interest in the Property. 12. The Unknown heirs of Joseph Flanagan, Jr, deceased may have or claim an interest in the Property that is the subject of this Foreclosure action by virtue of possible defects in that certain Quit Claim Deed recorded in Official Records Book 00596 at Page 0730 relating to a defective legal description, which defect renders the deed ineffective to convey the property. A reformation count has been included in our foreclosure action to correct said defect, or may otherwise claim an interest in the Property. 13. Diana Padgett may have or claim an interest in the Property that is the subject of this Foreclosure action by virtue of a Quit claim Deed recorded in Official Records Book 00596, Page 0730, or may otherwise claim an interest in the Property. 14, Unknown Party #1, Unknown Party #2, Unknown Party #3 and Unknown Party #4, the names being fictitious to account for parties in possession who may claim some interest in the Property that is the subject of this foreclosure action by virtue of an unrecorded lease or purchase option, by virtue of possession, homestead rights not readily apparent from a review of the public records or may otherwise claim an interest in the Property. The ames of these Defendants are currently unknown to the Plaintiff. However, any such claim or demand is inferior to the lien of the Mortgage. WHEREFORE, Plaintiff requests that the court ascertain the amount due Plaintiff for principal and interest on the Agreement and Mortgage and for late charges, abstracting, taxes, expenses and costs, including attorney’s fees, plus interest thereon; that if the sums due Plaintiff under the Agreement and Mortgage are not paid immediately, the court foreclose the Mortgage and the Clerk of the Court sell the Property securing the indebtedness + 22-002849 Page 2 of S to satisfy Plaintiff's mortgage lien in accordance with the provisions of Section 45.031, Florida Statues (1999); that the rights, title and interest of any Defendant, or any party claiming by, through, under or against any Defendant named herein or hereafter made a Defendant be forever barred and foreclosed; that the Court appoint a receiver of the Property and of the rents, issues, income and profits there, or in the alternative, order sequestration of rents, income and profits pursuant to Section 697.07, Florida Statutes (1995); and that the court retain jurisdiction of this action to make any and all further orders and judgments as may be necessary and proper, including the issuance of a writ of possession and the entry of a deficiency decree, when if such deficiency decree shall appear proper, if borrower(s) has not been discharged in bankruptcy. COUNT II - REFORMATION OF QUIT CLAIM DEE 15, This is an action to reform a Quit Claim Deed that has been recorded in the Public Records of Okeechobee County, Florida. This is an equitable action with no adequate remedy at law. 16, At all times material to this cause, Defendant owned real property (hereinafter “Property” in Counts I & IL) in Okeechobee County, Florida, more particularly described as follows: LOT 1, LOT 2 AND LOT 3, BLOCK 39, FIRST ADDITION TO SOUTH OKEECHOBEE, ACCORDING TO THE PLAT THEREOF AT PLAT BOOK 1, PAGE 17 PUBLIC RECORDS, OKEECHOBEE COUNTY, FLORIDA. This is evidenced by a true and correct copy of the Warranty Deed as shown recorded in Official Records Book 433 at Page 1770, attached hereto as an exhibit. 17. On April 7, 2006, Joseph Flanagan, Jr., First Party, executed and delivered to Robert Holley and Diana Padgett, Second Party, a Quit Claim Deed that was recorded in Official Records Book 596, Page 730, of the Public Records of Okeechobee County, Florida. 18. Inadvertently, and contrary to the clear intentions of the parties to the Quit Claim Deed, a scrivener’s error resulted from mutual mistake. Consequently, the legal description contained an incomplete description, as reflected below: Ist Addition to South Okeechobee, Lots 1,2,3, Block 39. 19, Based on these errors, the document may not accurately reflect the intentions of the parties to the Quit Claim Deed. 20. Equity requires that this Court reform the legal description to conform with the legal description set forth in paragraph sixteen (16) above. 21. The reformation sought will not prejudice any parties to this action. + 22-002849 Page 3 of 5 WHEREFORE, Plaintiff requests that the Court reform the legal description in the Quit Claim Deed to correct the scrivener’s error and to reflect the true intentions of the parties. COUNT Il —- REFORMATION OF MORTGAGE 22. This is an action to reform a Mortgage that has been recorded in the Public Records of Okeechobee County, Florida. This is an equitable action with no adequate remedy at law. 23. At all times material to this cause, Defendant owned real property in Okeechobee County, Florida, more particularly described as follows: LOT 1, LOT 2 AND LOT 3, BLOCK 39, FIRST ADDITION TO SOUTH OKEECHOBEE, ACCORDING TO THE PLAT THEREOF AT PLAT BOOK 1, PAGE 17 PUBLIC RECORDS, OKEECHOBEE COUNTY, FLORIDA, This is evidenced by the true and correct copy of the Warranty Deed as shown recorded in Official Records Book 433 at Page 1770 attached hereto as an Exhibit. 24. On August 11, 2006, Robert G. Holley II and Diana Padgett executed and delivered to Bank of America, N.A., a Mortgage that was recorded on October 2, 2006, in Official Records Book 612 at Page 432 of the Public Records of Okeechobee County, Florida. A true and correct copy of the Mortgage is attached hereto as an exhibit. 25. Inadvertently, and contrary to the clear intentions of the parties to the Mortgage, a scrivener's error resulted from mutual mistake. Consequently, the legal description contained an incomplete description, as reflected below: 1st Addition to South Okeechobee, Lots 1,2,3, Block 39. 26. Based on these errors, the document does not accurately reflect the intentions of the parties to the Mortgage. 27. Equity requires that the Court reform the legal description to conform with the legal description set forth in paragraph twenty-three (23) above. = 22-002849 Page 4 of 5 28. The reformation sought will not prejudice any parties to this action. WHEREFORE, the Plaintiff requests that the Court reform the legal description in the Mortgage to correct the scrivener's error and to reflect the true intentions of the parties. FLA. R. CIV. P. 1.115(e) VERIFICATIO! Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein are true and correct to the best of my knowledge and belief. By: Ke ANS Printed Name: _ Justin Time Harris on Title: eeAssistant Vice President Bank Of America, N.A. Date: DALSS: Plaintiff, by and through the undersigned attorney, prays this honorable Court grant the above requested relief and such other relief deemed appropriate and just. Albertelli Law PO Box 23028 Tampa, FL 33623 (813) 221-4743 (813) 221-9171 facsimile eService: servealaw@albertellilaw.com By: /s/ Justin Ritchie Florida Bar #106621 Justin Ritchie, Esq. = 22-002849 Page 5 of 5 IN THE CIRCUIT COURT OF THE NINETEENTH JUDICIAL CIRCUIT IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION BANK OF AMERICA, N.A., Plaintiff, CASE NO.: VS. DIVISION NO.: ROBERT HOLLEY A/K/A ROBERT G. HOLLEY H A/K/A ROBERT G. HOLLEY, et al, Defendant(s). CERTIFICATION OF POSSESSION OF THE ORIGINAL EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE STATEMENT PURSANT TO FLORIDA STATUES § 702.015(4) 1, Alma Santos, individually or as an employee of Albertelli Law being sworn, certify under penalty of perjury that the following information is true: 1 Plaintiff is in possession of the Original Equity Maximizer Agreement and Disclosure Statement (“Equity Maximizer Agreement and Disclosure Statement”). The original Equity Maximizer Agreement and Disclosure Statement has been delivered to Albertelli Law as Plaintiff's counsel, Albertelli Law is in possession of the Original Equity Maximizer Agreement and Disclosure Statement as counsel for Plaintiff, and will file same with the Court prior to the hearing on the Motion for Suromary Final Judgment. 2 The current location of the Original Equity Maximizer Agreement and Disclosure Statement is the office of Albertelli Law at 5404 Cypress Center Drive, Suite 300, Tampa, FL 33609. 3 Counsel has been retained to represent Bank Of America, N.A. in legal proceedings to enforce an Equity Maximizer Agreement and Disclosure Statement secured by a property located at 1902 SW 2nd Ave Okeechobee, FL 34974. 4 The name and title of the individual giving this certification is Alma Santos, Document Custodian, for Albertelli Law. 5. The name of the person who personally verified possession of the Original Equity Maximizer Agreement and Disclosure Statement is Alma Santos. 6. The time and date on which the possession of the Original Equity Maximizer Agreement and Disclosure Statement was verified on is 8/22/2022 at 10:41 AM. 7 A true and correct copy of Original Equity Maximizer Agreement and Disclosure Statement and all allonges and assignments, if applicable, are attached to this certification. Attomeys for eM ee S Signature Alma Santos Print Document Custodia: Title August 22, 2022 Date STATE OF lorida COUNTY OF Hillsborough SWORN AND SUBSCRIBED BEFORE ME THIS aa DAY OF wgust 202 BY Rime Sones WHO IS PERSONALLY KNOWN TO ME AND WHO DID TAKE AN OATH « Notary Public ~ State of Florida 22-002849 Coke F E OMMISSION # HH 907 eefe EXPIRE S: October 26, 2024 BANK OF AMERICA EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE AccouNT NUMBER Jy Borrower: ROBERT G HOLLEY tt enger: Bank of America, NA. 1902 SW 2ND AVE 100 North Tryon Street OKEECHOBEE, FL 34974-6145 Charlotte, NC 28255 ee CREDIT LIMIT: $184,000.00 DATE OF AGREEMENT: August 11, 2006+» ee introduction. This Bank cf America Equity Maximizer Agreement and Disclosure Statement ["Agreement") governs your line of credit (the # “Credit Line" or the “Credit Line Account") issued through Bank of America, N.A.. In this Agreement, the words “Borrower,” “you, * your.” and “Applicant” mean each and every person who signs this Agreement, including all Borrowers named above. The words "we,"."us," “ ‘our, and “Lender” mean Bank of America, N.A.. You agree to the following terms and conditions: Promise to Pay, You promise to pay Bank of America, N.A., or order, the total of all credit advances and FINANCE CHARGES. together with all costs and expenses for which you are responsible under this Agreement or under the “Mortgage” which secures your Credit Line. You wil pay your Credit Line according to the payment terms set forth below. Hf there is more than one Borrower, each is jointly and severally liable on this Agreement. This means we can require any Borrower to pay all amounts due under this Agroomont, including credit advances mada to any Borrower. Each Borrower authorizes any other Borrower, on his or har signature sone, to cancel the Credit Ling, to request and receive credit advances, and to do afl other things necessary to carry out the terms of this Agreement. We can release any Borrower from responsibility under this Agreement, and the others will remain responsible, Term. The term of your Credit Line will begin as ef the date of this Agreement ("Opening Date") and wil continue until August 71, 2037 "Maturity Date"). Ail indebtedness under this Agreement, if not already paid pursuant to the payment provisions below, will bo due and payable upon maturity. Tha draw period of your Credit Line will begin on a date, after the Opening Data, when the Agreement is acceptad by us in the State of North Carolina, following the expiration of the right to cancel, the perfection of the Mortgage, the receipt of all required certificates of noncencellation, and the meeting of all of our other conditions and will continue as follows: 120 months. ‘You may obtain credit advances during this period ("Draw Period"). After the Draw Period ends, the repayment period will begin and you will no tanger be able to obtain credit advances. The fength of the repayment period ig as follows: up to 180 months depending on the payment schedule set forth below. You agree that we may renew or extend the period during which you may obtain credit advances or make payments. You further agree that we may renew or extend your Credit Line Account. Minimum Payment. During the Draw Period. The "Total Minimum Payment Due” is equal to the Variable Rate Balance Minimum Payment {below}, the payment due, if any, for any outstanding Fixed Rate Option and any past duo amounts from prior billing periods. {Some Fixed Rate Options may have a different due date and are not figured in the calculation of the Total Minimum Payment Duo.) At any time you may pay more than the Tote! Minimum Payment Due, make additional payments or pay in full or in part the Outstanding Balance. The "Outstanding Balance” is the new balence of the Credit Line (which, if applicable, includes principal, accrued interest on the outstanding principal, fees end charges, Property Expanses idefinad as any expense which we incur because you do not fulfill all obligations of this Agreement or if you or another party docs not fulfill all obligations of the security instrument for the property which secures this Agreement) and any voluntary insurance or Borrowers Protection TM Plan.) We reserve the right to apply payments in any manner we choose, without notice. Your "Variable Rate Balance" is all of your Outstanding Balance that is not part of a Fixed Rate Option, You may choose any of the following monthly and quarterly Oraw Period payment options. Your billing statement will reflect the option you have chosen. You may also change your Draw Period payment option at a later time. Variable Rate Balance Minimum Payment - Depending on what payment schedule option you choose for the Draw Period, the Variable Rate Balance Minimum Payment may very. The Variable Rate Balance Minimum Payment will rot be less than the amount of accrued interest and any voluntary insurance, plus any unpaid fees. Monthly Payment Options: interest Only (Plus Insursnce) Option - The Minimum Payment will be the amount of accrued interest, plus any voluntary insurance and unpaid fees, .5% of Vatiable Rate Outstanding Balance Option ~ The Minimum Payment will be one and one half percent {1.5%} of the Variable Rate Outstanding Balance plus any unpaid fees, or fifty dollars ($50), whichever is greater, or the Variable Rate Outstanding Balance if less than the Minimum Payment. Fixed Payment Option - The Minimum Payment will be at teast one and one half percent (1.5%) of the Credit Line plus any unpaid fees, or fifty dollars ($50), whichever is greater, or the Variable Rate Outstanding Balance if fess than the Minimum Payment. Quarterly Payment Options: interest Only Option - The Minimum Payment will be the amount of accrued interest and unpaid fees. 4.5% of Variable Rate Outstanding Balance Option - The Minimum Payment will be four and one half percent (4.5%) of the Variable Rate Outstanding Belance plus any unpaid fees, or one hundred fifty dollars ($150), whichever is greater, or the Variable Rave Outstanding Balance if less than the Minimum Payment. Fixed Payment Option - The Minimum Payment will be at feast four and one half percent (4.5%) of the Credit Line plus any unpaid fees, or one hundred fifty dollars ($150), whichever is greater, or the Variable Rate Outstanding Balance if less than the Minimum Payment. During the Repayment Period. The payment frequency you select for the Draw Periad is the same for the repayment period. The length of the repayment period will vary depending on the Outstanding Balance at the beginning of the repayment period, if any Property Expenses are incurred during the repayment period and it you have any Fixed Hate Options, The amount ot the Tota! imum Payment Due may vary due to increases or decreases in the Index of if there are any Fixed Rate Options that remain unpoid at the beginning of the repayment period. You may choose either the following monthly or quarterly repayment period payment option. Your biliing stetement will reflect the option you have chosen. You may also change your repayment period payment option at a later time. Monthly Payment Option - The Total Minimum Payment Due will be an amount equal to the greater of five hundred fifty-five thousandths of one percent (0.555%) or one one hundred and eightieth (1/180) of the Variable Rata Principal Balance remaining on the last day of the Draw Period, plus accrued interest, unpaid fees, unpaid Property Expenses and any voluntary insurance, or fifty dollars ($50). If there are any Fixed Rate Loan Options that remain unpaid at the start of the Repayment Period, the Fixed Rate Lean Option payments previously esteblished will contisue to be billed. BANK OF AMERICA’EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE STATEMENT ME No: (Continued) Page 2 Quarterly Payment Option - The Total Minimum Payment Due will be an amount equal to the greater of one and six hundred sixty-six thousandths of one percent (1.6660) or one sixtieth (1/60th) of the Variable Rate Principal Balance remaining on the last day of the Draw Period, plus accrued interest, unpaid fees and unpaid Property Expenses, or one hundred fifty dollars ($150). If there are any Fixed Rate Loan Options that remain unpeid at the start of the Repayment Period, the Fixed Rete Loan Option payments previously established will continue to be billed. How Your Payments Are Applied. Uniess otherwise agreed or required by applicable law, payments and other credits will be applied to FINANCE CHARGES, other charges and fees, and principal in any order we choose without notice. Reacaipt of Payments. All payments must be made by a check, automatic account debit, electronic funds transfer, money order. or other instrument in U.S. dollars and must be received by us at the remittance address shown on your periodic billing statement. Payments received at that address prior to 2:00 P.M. at the location specified, or a payment made at one of our banking centers in the state of our address first described above, by 2:00 P.M. (Business days sre Monday through Friday, exclusive of legal holidays. If the due date falls on a Saturday, Sunday or legal holiday, the due date will not be extended.) on any business day will be credited to your Credit Line as of the date received. {f we receive payments at other locations, such payments will be credited promptly to your Credit Line, but crediting may be delayed for up to five (5) days after receipt. Credit Limit. This Agreement covers a revolving ine of credit tor the principal amount of One Hundred Eighty-four Thousand & 00/100 Dollars ($184,000.00), which will be your "Credit Limit” under this Agreement. During the Drew Period we will honor your request for credit advances subject to the section below on Lender's Rights. You may borrow against the Credit Line, repay any portion of the amount borrowed, and fe-borrow up to the amount of the Credit Limit. Your Credit Limit is the maximum amount you may have outstanding at any one time. You agree not 10 attempt, request, or obtain.a credit advance that wilt make your Credit Line Account balance exceed your Credit Limit. Your Credit Limit will not be inereaged should you overdraw your Credit Lino Account. if you exceed your Credit Limit, you agree to repay immediately the amount by which your Credit Line Account exceeds your Credit Limit, even if we have not yet billed you. Any credit advances in excass of your Credit Limit will not be secured by the Mortgage covering your principal dwelling. Charges to your Credit Line. We may charge your Credit Line to pay other fees and costs that you are obligated to pay under this Agreement, the Mortgage or any other document related to your Credit Line. in addition, we may charge your Credit Line for tunds required for continuing insurance coverage as described In tho paragraph titled "Insurance" below or as described in the Mortgage for this transaction. We may alsa, et our option, charge your Credit Line to pay any costs or expenses to protect or perfect our security interest in your principal dwelling. These costs or expenses include, without limitation, payments to cure defaults under any existing liens on your principal dwelling. if you do not pay your property taxes, we may charge your Credit Line and pay the delinquent taxes. Any arnount so charged to your Credit Line will be a credit advance and will decrease the funds available, if any, under the Credit Line. However, we have no obligation to provide any of the credit advances referred to in this paragraph. Credit Advances. After the Effective Disbursement Date of this Agreement, you may obtain credit advances under your Credit Line as follows: Credit Line Checks. Writing a preprinted "Special Convenience Check” that we will supply to you. Telephone Request. Requesting a credit advance. from your Credit Line to be applied to your designated account by telephone. Except for transactions covered by the federal Electronic Fund Transfers Act and unless otherwise agreed in your deposit account agreement, you acknowledge and you agree that we do not accept responsibiity for the authenticity of telephone instructions and that we will not be fiable for any loss, expense, or cost arising out of any telephone request, including any fraudulent or unauthorized telephone request, when acting upon such instructions beliaved to be genuine. Requests in Person. Requesting a credit advance in person at any of our suthorized locations. ATM Access. Using your "Bank of America ATM card or Bark of America Check Card or Account Access Card” at any of our designated ATM locations. Accaunt Access. Using the Account Access Card as described in this Agreement. if there is more than one person authorized to use this Credit Line Account, you agree not to give us conflicting instructions, woh as one Borrower telling us not to give advances to the other. Limitations on the Use of Checks. We reserve the right not to honor Special Convenience Checks in the following circumstances: Credit Limit Violation, Your Credit Limit has been of would be exceeded by paying the Spacial Convenience Check. Post-dated Checks. Your Special Convenience Check is post-dated. If a post-dated Special Convenience Check is paid and as a result any other check is returned or not paid, we are not responsible. Stolen Checks. Your Special Convenience Checks have been reported lost or stolen. Unauthorized Signatures. Your Special Convenience Check is not signed by an “Authorized Signer” as defined below. Termination or Suspension. Your Credit Line has been terminated or suspended as provided in this Agraement or could be if we paid the ‘Special Convenience Check. Other Restriction. Other Limitations. (1) You may not make 8 payment on the Account with a Special Convenience Check. {2} You notify us that you wish to stop payment of a Special Convenience Check; however you will not hold us liable if we try to stop payment of Special Convenience Check and we are unable to do so. You may ty to stop payment on a Special Convenience Check by notifying Customer. Service at the number lieted on your statement. Your stop payment order will remain in effect for six (6) months unless renewed. if we pay any Special Convenience Chock under these conditions, you must repay us, subject to applicable lews. for the amount of the Special Convenience Check. The Special Convenience Check itself wil be evidence of your debt te us together with this Agreement. Our fiability, if any, for wrongful dishonor of a check is limited to your actual damages. Dishonor for any reason as provided in this Agreement is not wrongful dishonor. We may choose not to return Special Convenience Checks along with your periodic billing statements; however, your use of each Special Convenience Check will be reflected on your periodic statement as @ credit advance. We do not “certify” Spocial Convenience Checks drawn on your Credit Line, Limitations on the Use of ATM Cards, We reserve the right not to honor Bank of America ATM card or Bank of America Check Card or Account Access Cards in the following circumstances: Credit Limit Violation. Your Credit Limit has been or would be exceeded by honoring the Bank of America ATM card or Bank of America Check Card or Account Access Card charge. Stolen ATM Cards. Your Bank of America ATM card or Bank of America Check Card or Account Access Cards heve been reported lost or stolen. BANK OF AMERICA EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE STATEMENT Loan No {Continued} Page 3 a sss es ss ses ee psssretnemttoemsrst 4 Termination or Suspension. Your Credit Line has been terminated or suspended as provided in this Agreement or could be if we honored the Credit Line charge. ais if we pay any advance requested by use of the Bank of Americe ATM card or Bank of America Check Card or Account Access Card under these conditions, you must repay us, subject to applicable laws, for the amount of the advance. The advance itself will be evidence of your debt to us together with this Agreement. Our liability, If any, fer wrongful dishonor of an advance is limited to your actual damages. Dishonor for any reason as provided in this Agreement is not wrongful dishonor. Your use of the Bank of America ATM card or Bank of America Check Card or Account Access Card will be reflected on your periodic statement es a credit advance. wee Transaction Requirements. The following transaction limitations will apply to the use of your Credit Line: Account Access Limitations. The following transaction limitations will apply to your Credit Line and accessing by other methods. Other Transaction Requirements. Based on state law, we may not be able to provide you with a Bank of America ATM card or Bank of America Check Card or an Account Access card. We reserve the right not to honor Account access tinked to this Credit Line in the. following circumstances: Credit Limit Violation. Your Credit Limit has been or would be exceeded by paying the Account access transaction. Stolen Account Access Card. Your Account Access Card has bean reported lost or stolen. Unauthorized Signatures. Your Account Access Card is not used by a Borrower who has been issued one, Termination or Suspension. Your Credit Line hes been terminated or suspended as provided in the Agreement or could te if we paid the Account access transaction. if we pay any advance requested by use of an Account access transaction under these conditions, you must repay us, subject to applicable laws, for the amount of the advance. The advance itself will be evidence of your debt to us together with this Agreement. Our liability, if any, for wrongful dishonor of an advance is limited to your actual damages. Dishonor for any reason as provided in this Agreement is not wrongful dishonor. Your use of the Account Access Card will be reflected on your periodic statement as a credit advance, Liability for Unauthorized Account Access Card Transactions. You are not liable for unauthorized use of your Account Access Card, just notify us promptly if you believe your Account Access Card has been lost or stolen or if you discover any unauthorized iransactions. We may require you to provide a written statement regarding claims of unauthorized Account Access Card transactions. Visa is a registored trademark of Visa internstional Service Association. Lender's lability, if any, for wrongful dishonor of an advance request is limited to Borrower's actual damages. Lender shall not be Hable if any merchant, financial institution or ATM refuses to honor the Account Access Card. Credit Line Special Convenience Check, Telephone Request, in Person Request and ATM Access Limitations. There ave no transaction ‘limitations tor the writing of Special Convenience Checks, requesting an advance by telephone, requesting an advance in person or using an Automated Transaction Machine ("ATM") eccess card. Authorized Signars. The words "Authorized Signer" on Special Convenience Checks and Bank of America ATM card or Bank of America Check Card or Account Access Cards as used in this Agreement mean and include each person who (a) signs the application for this Credit Line, (b} signs this Agreement, or {c) has executed a separate signature authorization card for the Credit Line Account. Lost Special Convenience Checks and Bank of America ATM card or Bank of Amorica Check Card or Account Access Cards. if you fose your Special Convenisnce Checks or Bank of America ATM card or Bank of America Check Card or Account Access Cards or if someone is using them without your permission, you agree to let us know immediately. You cen notify us at our address shown at the beginning of this Agreement. Future Credit Line Services. Your application for this Credit Line aiso serves as a request to receive any new services (such as access devices) which may be available at some future time as one of our services in connection with this Credit Line. You understand that this request is voluntary and that you may refuse any of these new services at the time they are offered. You further understand that the terms and conditions of this Agreement will govern any transactions made pursuant to any of these new services. Collateral. You acknowledge this Agreement is secured by the following collateral described in the security instrument listed herein: @ Mortgage dated August 11, 2005, to us on real property located in OKEECHOBEE County, State of Florida, Insurance. You must obtain Insurance on the Property securing this Agreement that is reasonably satisfactory to us. You may obtain property insurance through any company of your choice that is reasonably satisfactory to us. You have the option of providing any insurance required under this Agreement through an existing policy or @ policy independently obtained and paid for by you, subject te our right, for reasonable cause before credit is extended, to decline any insurance provided by you. Subject to applicable law, it you fail to obtain or maintain insurance as required in the Mortgage, we may purchase insurance to protect our own interest, add the premium to your balance, pursue any other remedies available to us, or do any one or more of these things. Periodic Statements. lf you have a balance owing on your Credit Line Account or have any account activity, we will send you a periodic statement. it will show, among other things, credit advances, FINANCE CHARGES, other charges, payments made, other credits, your “Previous Balance,” and your “New Balance.” Your statement aiso wiff identify the Minimum Payment you must make for that billing period and the date it is due. When FINANCE CHARGES Bagin to Accrue. Periodic FINANCE CHARGES for credit advances under your Credit Line will begin to accrue on the date credit advances are posted to your Credit Line. There is ne "free ride period" which would allow you to avoid a FINANCE CHARGE on your Credit Line credit advances, HOW THE BALANCE ON WHICH THE FINANCE CHARGE IS CALCULATED IS DETERMINED. The cost of the credit through the Credit Line is disclosed as @ Finance Charge. Except for some closing costs (indicated in this Agreement), interest will not accrue until a credit advance is made. You will pay interest on each credit advance until itis fully paid off. We will determine the FINANCE CHARGE for each monthly billing period by using the fo'lowing simple interest raie calculation. A FINANCE CHARGE is calculated daily for that portion of the principal balance that is not payable under a Fixed Rate Option ("Variable Rate Principal Balance”) by multiplying the daily periodic rate {as indicated in “How The Rate Used To Caiculate The Finance Charge is Determined ") by the daily Variable Rate Principal Balance. To get the daily Variable Rate Principal Balance we (i) take the beginning Variabie Rate Principal Balance for that day {ii} add to that amount all credit advances and sums advanced by us to fulfill eny obligations under a security instrument (such as a mortgage, deed of trust, or security egreement), if any, for that day, then (iii) subtract all principal balance payments and credits for the Variable Rate Principal Belance for that day. All of the daily Variable Rate Principal Balance FINANCE CHARGES for the monthly billing cycle are added to get the total Variable Rate Principal Balance FINANCE CHARGE for the monthly billing cycle. Transaction charges, including but not limited to Fixed Rate Option conversion fees, are added to the oo BANK OF AMERICA’ EQUITY MAXIMIZER AGREEMENT AND DISCLOSURE STATEMENT OE No: RTE {Continued) s Page 4 ws s os we se Variable Rate Principal Balance FINANCE CHARGE to get the total FINANCE CHARGE for the monthly billing cycle. For Fixed Rate Option belances, the estimated FINANCE CHARGE is calculated at the establishment of the Fixed Rate Option and is included in the fixed payment amount. HOW THE RATE USED TO CALCULATE THE FINANCE CHARGE IS DETERMINED. The initial Variable Rate Principal Balance daily periodic rate used to compute the Veriable Rate Principal Balance FINANCE CHARGE is 1/265 of the initial Variable Rate Principal Balance ANNUAL PERCENTAGE RATE {as indicated under “Periodic Rate and Corresponding Annual Percentage Rate"). The Veriable Rate Principal Balence ANNUAL PERCENTAGE RATE is a variable rate involving both an index anc a margin, both described under “Periodic Rate and Corresponding Annua! Percentage Rate". Finance Charges will accrue on an actual 365 day yeer basis (366 day year basis for leap year}. If, however, you participate in a relationship account with a Bank of America Corporation affiliate (as offered from tima to time, the Variable Rate Principal Balance Dally Periadic Rate and the Variable Rate Principal Annual Percentage Rate may be reduced below the rates stated in this Agreement. The addition of a fee may cause the actual Variable Rate Principal Balance Annual Percentage Rate for the monthly billing cycle to exceed the Variable Rate Principal Ba‘ance Annual Percentage Rate stated in this Agreement. if the Index is unavailable for any monthly biling cycle, we will use the Index for the most recently preceding monthly billing cycle in which the index was available. If the Index ceases to be published during the term of this Agreement, we will select a substitute index and margin. The substitute index will be o historical movement substantially similar to the Index, and the substitute index and margin will result in an Annual Percentage Rate at the time it is substituted that is substantially similar to the rate in effect at the time the Index became unavailable. There is no limitation on the size of any interest rate adjustment or the number of interest rate adjustments that may be made on the Credit Line so fong as the maximum Annual Percentage Rate is not exceeded. Any increase or decrease in the Index that occurs would cause a corresponding increase or decrease in the Daily Periodic Rate, Annual Percentage Rate, Finance Charges and possibly the Total Minimum Payment Due. You understand that adjustments based on an incex change will be applied automatically to the Credit Line and you will not receive advance notice of thet adjustment. The Finance Charge on a Fixed Rate Option is determined on a simple interest basis. If you make a Fixed Rate Option payment(s} before or efter any date, either the amount of your originally scheduled fino! payment may be lower or higher than the amount initially established or additional payment(s) may he required. Under some circumstances, your payment will not cover the Finance Charges that accrue and negative amortization will occur. Negative amortization will increase the total amount you may pay us and reduce the equity in the Property. Periodic Rate and Corresponding ANNUAL PERCENTAGE RATE. We will determine the Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE as follows. We start with an independent index which is the Prime Rate as published daily in the "Money Rates” table of The Wall Street Journal. When a range of rates has been published, the higher of the rates will be used. Changes in the Annual Percentage Rate will be based on the index published the last business day prior to the first day of the next monthly billing cycle, plus the Margin, and will be effective on the first day of the next monthly billing cycle (the “Index”). We will use the most recent index value available to us as of the date of any ANNUAL PERCENTAGE RATE adjustment. The Index is not necessarily the lowest rate charged by us on our loans. if the Index becomes unavailable during the term of this Credit Line Account, we may designate a substitute index after notice to you. To determine the Periodic Rate that will apply to your First Payment Stream, we subtract a margin from the value of the index, then divide the vaiue by the number of deys in a year (daily). To obtain the ANNUAL PERCENTAGE RATE we multiply the Periodic Rate by the number of days in a year idaily), This result is the ANNUAL PERCENTAGE RATE for your First Payment Stream, To determine the Periodic Rate that will apply to your Second Payment Stream, we subtract a margin from the vaiue of the index, then divide the value by the number of days in a year (daily), To obtain the ANNUAL PERCENTAGE RATE we multiply the Periodic Rate by the number of days in.a year (daily), This result is the ANNUAL PERCENTAGE RATE for your Second Payment Stream. The ANNUAL PERCENTAGE RATE includes only interest and no other costs. The Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE on your Credit L