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Filing # 83994250 E-Filed 01/28/2019 02:25:46 PM
IN THE CIRCUIT COURT OF THE 9TH JUDICIAL CIRCUIT
IN AND FOR OSCEOLA COUNTY, FLORIDA
CIVIL DIVISION
THE BANK OF NEW YORK MELLON CASE NO:
FKA THE BANK OF NEW YORK, AS
TRUSTEE FOR THE
CERTIFICATEHOLDERS OF CWALT,
INC., ALTERNATIVE LOAN TRUST
2007-OH3, MORTGAGE PASS-
THROUGH CERTIFICATES, SERIES
2007-0H3,
Plaintiff,
VS.
ARCHI TRUST LLC, AS TRUSTEE FOR
THE CERTIFICATE HOLDERS OF
082417-1244 LAND TRUST DATED
AUGUST 24TH, 2017; ANY AND ALL
UNKNOWN BENEFICIARIES OF
082417-1244 LAND TRUST DATED
AUGUST 24TH, 2017; DUNCAN J.
LOWRIE; HELEN LOWRIE;
CELEBRATION RESIDENTIAL
OWNERS' ASSOCIATION, INC.; ALL
UNKNOWN PARTIES CLAIMING
INTERESTS BY, THROUGH, UNDER
OR AGAINST A NAMED DEFENDANT
TO THIS ACTION, OR HAVING OR
CLAIMING TO HAVE ANY RIGHT,
TITLE OR INTEREST IN THE
PROPERTY HEREIN DESCRIBED;
UNKNOWN TENANT #1; UNKNOWN
TENANT #2,
Defendants.
/
VERIFIED COMPLAINT OF FORECLOSURE AND ENFORCEMENT OF LOST
NOTE
Page 1 of 9
File No: M180147
Plaintiff, THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK,
AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF CWALT, INC., ALTERNATIVE
LOAN TRUST 2007-OH3, MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-
OH3, through its undersigned counsel, sues Defendants ARCHI TRUST LLC, AS TRUSTEE FOR
THE CERTIFICATE HOLDERS OF 082417-1244 LAND TRUST DATED AUGUST 24TH,
2017; ANY AND ALL UNKNOWN BENEFICIARIES OF 082417-1244 LAND TRUST
DATED AUGUST 24TH, 2017; DUNCAN J. LOWRIE; HELEN LOWRIE; CELEBRATION
RESIDENTIAL OWNERS' ASSOCIATION, INC.; ALL UNKNOWN PARTIES CLAIMING
INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT TO THIS
ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN
THE PROPERTY HEREIN DESCRIBED; UNKNOWN TENANT #1; UNKNOWN TENANT
#2, and alleges:
GENERAL ALLEGATIONS
1. This is an action for equitable relief, or alternatively for damages in excess of
$15,000.00, to foreclose a mortgage on real property located in Osceola County, and for other
relief within the subject matter jurisdiction ofthis Court.
2. This is an action that involves parties and property located within the venue of this
Court, and venue is otherwise proper pursuant to Chapter 47, Florida Statutes.
3. All parties to this action are properly before this Court, and this Court has personal
jurisdiction over the parties. Plaintiff, its successors and assigns, has the right to exercise any and
all interests of the mortgage, including but not limited to, the right to foreclose the subject property.
Page 2 of 9
File No: M180147
4. On or about June 11, 2007, DUNCAN J. LOWRIE and HELEN LOWRIE (hereinafter
the “Borrowers”) executed and delivered a Promissory Note in the original principal amount of
$354,850.00. A copy of the Promissory Note (the “Note”) is attached hereto as Exhibit “A”.
5. The Note was secured by a Mortgage, executed and delivered by DUNCAN J.
LOWRIE and HELEN LOWRIE, dated June 11, 2007 and recorded in Official Records Book
03501 Page 2770 of Osceola County, Florida (the “Mortgage”). A copy of the Mortgage is
attached hereto as Exhibit “B”.
6 Plaintiff is not in possession of the original note and mortgage, but is the present
owner of the Note and Mortgage and entitled to enforce the instruments in accordance with
§673.3011 and §673.3091 Florida Statutes and Fla. R. Civ. Pro. 1.210(a). Plaintiff, has designated
NewRez, LLC f/k/a New Penn Financial, LLC d/b/a Shellpoint Mortgage Servicing ("Shellpoint"),
as attorney-in-fact for the Plaintiff, pursuant to a Limited Power of Attorney.
7 The Note owned by Plaintiff, a copy of which is attached to the Complaint as
Exhibit “A”, has been lost or misplaced.
8 The Plaintiff was either entitled to enforce the instrument when it was lost, or has
directly or indirectly acquired ownership of the instrument from a person or entity that was entitled
to enforce the instrument when loss of possession occurred.
9 The loss of possession of the Note was not the result of a transfer by the Plaintiff
or a lawful seizure.
10, The Plaintiff will prove the terms and conditions ofthe subject promissory note and
the right to enforce.
Page 3 of 9
File No: M180147
ll. The Plaintiff will provide reasonable means for adequate protection to the
Borrowers against any loss that might occur by reason of a claim by another person to enforce the
instrument.
12. Plaintiff cannot reasonably obtain possession of the instruments because the
whereabouts of the instruments cannot be determined. A copy of the Lost Note Affidavit is
attached hereto as Exhibit “C”.
13. All conditions precedent to the filing ofthis action have been met by Plaintiff.
14, By virtue of Borrowers’ failure to make payments when due, Plaintiff has been
forced to retain the services of the undersigned counsel, and has agreed to pay said attorneys a
reasonable fee for their services.
COUNT I- MORTGAGE FORECLOSURE
15. Plaintiff re-adopts and re-alleges paragraphs 1 through 14 set forth above.
16. This is an action to foreclose a mortgage on real property located in Osceola
County, Florida.
The legal description ofthe real property sought to be foreclosed is:
LOT 41, CELEBRATION EAST VILLAGE UNIT 4, ACCORDING TO THE PLAT
THEREOF AS RECORDED IN PLAT BOOK 15, PAGES 1 THROUGH 28, OF THE
PUBLIC RECORDS OF OSCEOLA COUNTY, FLORIDA.
17, The Defendant, ARCHI TRUST LLC, AS TRUSTEE FOR THE CERTIFICATE
HOLDERS OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017, owns the property.
18. There is a default for the February 1, 2014, payment and all subsequent payments.
19, Plaintiff is authorized and hereby declares the full amount under the Note to be due
and payable.
Page 4 of 9
File
No: M180147
20. Borrowers owe Plaintiff the principal sum of $407,528.04, plus outstanding and
accrued interest, late charges, attorney’s fees and costs, and all expenses incurred in preparation
of the title search for ascertaining necessary parties to this action, as well as other potential charges
as provided in the loan documents, including, but not limited to, any sums advanced, or to be
advanced, by Plaintiff for the payment of taxes or insurance or other expenses to protect Plaintiff's
security interest or to maintain and preserve the subject real property.
21, Plaintiff has obligated itself to pay the undersigned attorneys a reasonable fee for
their services herein and is entitled to recover said fees pursuant to the terms of the note and
mortgage.
22, Defendant, ARCHI TRUST LLC, AS TRUSTEE FOR THE CERTIFICATE
HOLDERS OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017, may claim some
interest in, or lien upon, the subject property arising from their ownership of the property by virtue
of the Trustee’s Deed recorded in Official Records Book 5200 Page 874 of the Public Records
of Osceola County Florida; and the Notice of Lis Pendens recorded in Official Records Book
5235 Page 508 of the Public Records of Osceola County, Florida; of which interests are
subordinate and inferior to the interest of Plaintiff's Mortgage.
23. Defendant, ANY AND ALL UNKNOWN BENEFICIARIES OF 082417-1244
LAND TRUST DATED AUGUST 24TH, 2017, may claim some interest in, or lien upon, the
subject property by virtue of the Trustee’s Deed recorded in Official Records Book 5200 Page
874 of the Public Records of Osceola County Florida; and the Notice of Lis Pendens recorded in
Official Records Book 5235 Page 508 of the Public Records of Osceola County, Florida; of which
interests are subordinate and inferior to the interest of Plaintiff's Mortgage.
Page 5 of 9
File No: M180147
24, Defendant, CELEBRATION RESIDENTIAL OWNERS' ASSOCIATION, INC.,
is joined because it may claim some interest in, or lien upon, the subject property by virtue of the
Final Judgment of Foreclosure recorded in Official Records Book 4750 Page 2455 of the Public
Records of Osceola County, Florida; and any possible association liens and assessments, but any
such interests are subordinate and inferior to the interest of Plaintiff's Mortgage.
25, Defendants, UNKNOWN TENANT #1 and UNKNOWN TENANT 22, fictitious
names representing tenants in possession, may claim some interest in the property that is the
subject of this foreclosure action by virtue of being in actual possession of same, but any said
interest Defendants may claim in the subject property, is subordinate and inferior to the interest of
Plaintiff's Mortgage.
26. In addition to all other named Defendants, ALL UNKNOWN PARTIES
CLAIMING INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT
TO THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR
INTEREST IN THE SUBJECT PROPERTY HEREIN DESCRIBED, may be interested in the
subject matter of this action as unknown spouses, tenants, heirs, devisees, grantees, assignees,
lienors, creditors, trustees or other claimants by, through, under or against a known person who is
dead or not known to be dead or alive, or by virtue of any interest in, or claim to, the property
which is the subject of this action or otherwise as the case may be. These interests, if any, are
subordinate and inferior to Plaintiff's Mortgage.
WHEREFORE, Plaintiff prays as follows:
a) That this Court take jurisdiction of this action and all parties named in this
Complaint, and that this Court permit Plaintiff to join in this action by appropriate amended
Page 6 of 9
File No: M180147
pleading any such additional parties as may be necessary for a full and complete determina
tion of
Plaintiff's rights on the lien of its Mortgage;
b) That this Court make an accounting of the sum due to Plaintiff under the Note and
Mortgage sued upon herein, together with interest, costs, sums advanced by Plaintiff
to protect its
security interest or to maintain or preserve the subject property, including but not
limited to
payment of environmental inspections and assessments, taxes, insurance and reasonable
attorney’s
fees incurred by Plaintiff:
°) That this Court enter an Order requiring Borrowers to pay the amounts determined
by this Court to be due and owing under the Note and Mortgage and that the sum of money
found
to be due, as aforesaid be decreed by this Court, to be a lien upon the lands described in
Plaintiffs
Mortgage. If the sum ordered by this Court to be paid is not paid within the time set by this
Court,
that the subject property be sold at public foreclosure sale to satisfy Plaintiff's claim.
d) That this Court decree that the lien of the Plaintiff is superior to any and all right,
title or interest of the Defendants herein or any person or parties claiming by, through or under
them since the filing of the Lis Pendens;
¢) That this Court enter an Order entitling Plaintiffto enforce the lost Note pursuant
to Florida Statute Section 673.3091;
e) That all right, title or interest of the Defendants, or any person claiming by, through
or under them, be forever barred and foreclosed; and
f) That this Court retain jurisdiction to enter such further awards, including deficiency
judgments, to the extent permitted by applicable Bankruptcy and State laws, and writs of
possession, and to grant any and all additional relief as the Court may deem just, necessary
and
proper under the circumstances.
Page 7 of 9
File No: M180147
TO ALL DEFENDANTS: PLEASE NOTE THAT EFFECTIVE OCTOBER 13,
2006, 15
U.S.C. §1692G OF THE FAIR DEBT COLLECTION PRACTICES ACT HAS BEEN
AMENDED AS FOLLOWS:
(a) LEGAL PLEADINGS — Section 809 of the Fair Debt Collection Practices Act
(15 U.S.C. §1692g) is amended by adding at the end the following new subsection:
“(d) Legal Pleadings — A communication in the form of a formal pleading in a civil
action shall not be treated as an initial communication for purposes of subsection
(a)”
Dated this _ Ze day of wo 2019,
Kelley Kronenberg
Attorneys for Plaintiff
8201 Peters Road, Suite 4000
Whe, Fort Lauderdale, FL 33324
ae
Phone: (954) 370-9970
Service email: ftlrealprop@kelleykronenberg.com
fo Attorney email: mmarra@kelleykronenberg.com
=_
By: /s/ Marc-A. Marra
Marc Marra, ESQUIRE
Florida Bar No. aul 85
Page 8 of 9
File No: M180147
Under penalty of perjury, I declare that I haye read
the foregoing, and the facts
alleged therein are true and correct to the best ofm knowledge and belief.
NewRez, LLC f/k/a New Penn Financial,
LLC d/b/a Shellpoint Mortgage Servicing,
as attorey-in-fact for the Plaintiff THE
BANK OF NEW YORK MELLON FKA
THE BANK OF NEW YORK, AS
TRUSTEE FOR THE
CERTIFICATEHOLDERS OF CWALT.
?
INC., ALTERNATIVE LOAN TRUST
2007-0H3, MORTGAGE PASS-
THROUGH CERTIFICATES, SERIES
2007-OH3
SEL Signature
———-- lana A meu
Printed Name .
a Fe Speer
Title
a ee ee wine. Lenten eee ee [-2349
Date
Page 9 of 9
File No: M180147
EXHIBIT “A”
¢
Crdrrod A
Prepared by: SHERI THOMPSON
@
LOAN #: 169478585
PAYMENT ADVANTAGE
Oman
FIXED/ADJUSTABLE RATE NOTE
(LIBOR One Year Index - Rate Caps)
THIS NOTE CONTAINS PROVISIONS THAT WILL CHANGE MY FIXED INTEREST RATE TO AN ADJUSTABLE
INTEREST RATE, THIS NOTE LIMITS THE AMOUNT MY ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY
ONE TIME AND THE MAXIMUM RATE I MUST PAY, FOR A LIMITED TIME I WILL HAVE A PAYMENT OPTION
THAT IS LESS THAN THE FULL AMOUNT OF INTEREST DUE, IF I CHOOSE THIS OPTION, THE PRINCIPAL
AMOUNT TO REPAY COULD BE GREATER THAN THE AMOUNT ORIGINALLY BORROWED,
THIS NOTE CONTAINS A PREPAYMENT PENALTY.
JUNE 11, 2007 CELBRATION FLORIDA
Wate] [City] [State]
1244 GOLDEN CANNA LANE, CELEBRATION, FL 34747-4212
[Property Address]
L BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U.S. $ 354,850.00 ("Principal"), plus interest, to the order
of Lender. The Principal may increase as provided under the terms of this Note but will n jot exceed
115 percent of the
Principal amount I ori iginally borrowed. This is called the "Maximum Negative Amortization Cap. " If I default under this Note or the
Security Instrument, then default charges may cause the Maximum Negative Amortization Cap to be exceeded, Lender is
Countrywide Bank, FSB.
Iwill make all payments under this Note in the form of cash, check or money order,
T understand that Lender may transfer this Note. Lender or its succe: ‘ssors 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
(A) Fixed Interest Rate
Taterest will be charged on unpaid Principal until the full amount has been paid. Interest will initially accrue at a yearly rate of
7.625 %, This is my initial fixed interest rate and is the rate for determinin; ig the interest I owe until it changes as provided
below. Interest will be charged on the basis of a twelve-month year and a thirty-day month,
(B) Adjustable Interest Rate
The initial fixed interest rate I owe will change to an adjustable interest rate on the first day of
JULY, 2012 and the adjustable interest rate will change on that day every 12 month thereafter. The date on which my
initial fixed interest rate changes to an adjustable interest rate, and each date on which my adjustable interest rate could change is
called an "Interest Rate Change Date." The new rate of interest will become effective on each Interest Rate Change Date.
{(C) Index
Beginning with the first Interest Rate Change Date, my adjustable interest rate will be based on an Index. The “Index” is the
average of interbank offered rates for one year U.S. dollar-denominated deposits in the London market ("LIBOR"), as published in
The Wall Street Journal. The most recent Index figure available as of the date 45 days before each Interest Rate Chan; ige Date is called
the “Current Index."
* Payment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 One Year LIBOR-FL
‘1E684-FL (12/06)(d/i) Page 1 of 5
It A
®¥ y @ LOAN #: 169478585
If the Index is no longer available, the Note Holder will choose a new index
that is based upon comparable information. The
Note Holder will give me notice of this choict
(D) Calculation of Adjustable Interest Rate Changes
Before each Interest Rate Change Date, the Note Hol fer will calculate my new adjustable
interest rate by adding 2.250%
(this amount is the "Margin") 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%). This rounded amount will be my
new adjustable interest rate until the next Interest Rate
Change Date, My adjustable interest rate will never be gi reater than 12.625 % or lower than the Margin.
) Limits on Interest Rate Chan: ges.
‘The interest rate in effect at the first Interest Rate Change e Date will not be greater than
12.625 % or less than
2.250 %, Thereafter, my adjustable interest rate will never be increased or decreased on any Single Interest Rate Change Date
by more than 2 percentage points from the rate of interes t in effect for the preceding 12 months.
3. PAYMEN’
(A) Time and Place of Payments
Twill make a payment every month.
Twill make my monthly payments on the first day of each month beginning on
AUGUST 01, 2007 - I will make these paym ents every month until I have paid all the Principal and interest and any other
charges described below that I may owe under this Not te, Each monthly payment
will be applied as of its scheduled due date and will
be applied to interest before Principal. If I still owe amounts under this Note
on JULY 01, 2047 , L will pay those
amounts in full on that date, which is called the "Maturity Date."
Iwill make my monthly payments at
P.O. Box 660694, Dallas, TX 75266-0694
or ata different place if required by the Note Holder.
(B) Minimum Payment
‘The "Minimum Payment" is the minimum amount Note Holder will ace; pt for
calculated three (3) different ways during the loan term:
my monthly payment. The Minimum Payment is
@ Until sony 01, 2017 ("Recast Date” ") or until the Maximum Negative Amortization Cap is reached,
whichever is earlier, the Minimum Payment will be calculated using the then-current interest
described in Section 2) minus rate (either fixed or adjustable as
4.000 percentage points, The result of this calculation is called the
Rate.” The Minimum Payment Rate can never be lower than 1%, Since the Minimum “Minimum Payment
applied to my unpaid Principal balance, the Mininium Paymé ent will be Payment Rate is less than the interest rate
insufficient to pay the interest port tion of the monthly
payment and no portion is applied to Principal. When I make a Minimu
m Payment, which is based on the Minimum
Payment Rate that is less than the rate of interest due, the unpaid
interest is added to the Principal amount. This is
known as "deferred interest” or "negative amortization."
(i) If the unpaid Princip: al balance reaches the Maximum Negative Amortization Cap prior to the
Minimum Payment will be the ie amoun’ it that would pay only the interest Recast Date, my new
portion of the monthly payment based upon the
then-current interest rate, which ch: anges in accordance with Section 2. This
is the Minimum Payment in effect until the Recast
Date.
(ili) After the Recast Date and for the remainder of the Joan term, the
Minimum Payment will be the monthly payment
amount necessary to pay the Joan off, in full, at the Maturity Date in substantially
interest rate, which changes in accordance with Section 2. equal payments based on the then-current
(C) Initial Monthly Minimum Payment
Each of my ‘nial monthly Minimum Payments until the frst Interest Rate Change
Date will be in the amount of U.S.
$1,401.39
@) Monthly Payment Changes
Changes in my monthly payment will be the result of chan; iges in the unpald Principal
that I must pay. The Note Holder will determine my new inter est rate and the changed amount balance of my loan and in the interest rate
of my monthly payment in accordance
with Sections 2 and 3 of this Note.
© Payment Advantage Fixed/Adjustable Rate Note 3/1, 6/1, 7/1, 10/1
One Year HIBOR-FL
1E684-FL (12/06) Page 2
® @
.
LOAN #: 169478585
{E) Additions to My Unpaid Principal
For each month that my monthly payment is less than the interest portion, the Note Holder will subtract the amount of my
monthly payment from the amount of the interest due and will add the difference to my unpaid Principal. Interest will accrue on the
amount of this difference at the interest rate required by Section 2, For each month th at the monthly payment is greater than the
interest due, the Note Holder will apply the payment as provided in Section 3(A).
(F) Payment Options
Until the Recast Date, the Note Holder may provide me with up to three (8) additional monthly payment options ("Payment
Options") if they are greater than the Minimum Payment. The Payment Options are calculated using the interest rate in accordance
with Section 2. The following Payment Options may be provided:
@ Interest O: nl ly Payment: the amount that would pay only the interest portion of the monthly payment. The Principal
balance will not be decreased by this Payment Option and it is only available if the interest portion exceeds the Minimum
Payment.
(i) Amortized Payment: the amount necessary to pay the loan off (Principal and interest) at the Maturlty Date in
substantially equal payments based on the then-current int lerest rate.
(ii) 15 Year Amortized Payment: the amount necess ary to pay the loan off (Principal and interest) within a fifteen (15)
year term from the first payment due date in substantially eq jual payments at the then-current interest rate,
These Payment Options are only available if th ey are greater ihan the Minimum Payment, If the Maximum Negative
Amortization Cap is reached, then the Payment Optio ns available will be the Amortized Payment and the 15 Year Amortized
Payment. Upon the Recast Date I will no longer have P: ayment Opt tions and I will be required to pay the Amortized Payment, which
becomes the Minimum Payment as described in Section 3(B) (iii),
4 NOTICE OF CHANGES
The Note Holder will deliver or mail to me a notice of am ly changes in the amount of my monthly payment before the effective
date of any change. The notice will include information require d by Iaw 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
Thave 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 thatI a im doing so. I may not designate a payment as
a Prepayment if I have not made all the monthly payments due under this Note.
J may make a full Prepayment or partial P: ‘repayments without paying any Prepayment charge, The Note Holder will use my
Prepayments to reduce the amount of Princip al that I owe under this Note, If I make a partial Prepayment, there will be no changes in
the due dates of my monthly payments, My partial Prepayment may reduce the amount of my monthly payments after the first
Payment Change Date following my partial il Prepayment, However, any reduction that could result from 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 pe erm ted 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 me that
exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal
1 owe
under this Note or by y making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a paral
Prepayment,
7. BORROWER'S FAILURE TO PAY AS REQUIRED
{A) Late Charges for Overdue Pay its
If the Note Holder has not received the full amount of any Minimum Payment by the end of fifteen (15) 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 5.000 % of the Minimum Payment.
Iwill pay this late charge promptly but only once on each late payment,
(B) Default
If1 do not pay the full amount of each Minimum Payment on the date it is due, I will be in default,
© Payment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 One Year LIBOR-FL
1E584-FL (12/08) Page 3 of §
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LOAN #: 169478585
(C) Notice of Default
if Lam in default, the Note Holder may send me a written notice telling me that if I do not pay the Minimum Payment by a
certain date, the Note H folder may require me to pay immediately the full amount of Principal that has not been paid and all the
interest
that I owe. The date mi ust 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 do: es 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 Jaw, These expenses
include, for example, reasonable attomeys' fees. If 1 default under th is Note or the Security Instrument then default
charges may cause
the Maximum Negative Amortization Cap to be exceeded,
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 Prop erty Address above or at a different address if I give the Note Holder a
notice of my different address,
Unless the Note Holder re quires a different method, any notice that must be given to the Note Holder under this Note will be
given by delivering it or by mail in, ig it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different
address if] 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 obligatéd to keep all 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
ddo these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser to
is also obligated to keep all the promises made in this Note. The Note*Holder may enforce its rights under of this Note,
this Note against each
person individually or against all of us together, This means that anyone of us may be required to pay all the
amounts owed under this
Note.
10, WAIVERS
T 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 amot unts due have not been paid.
11. DOCUMENT CORRECTION
In the event that Note Holder at any time discovers that this Not te, Security Instrument, Addenda, Rider or any other
related to this loan is lost, misplaced, misstated, inaccurately Teflecis the true and correct terms and conditions document
of the loan, or
otherwise contains an error, such as a clerical mistake, calculation error, computer error, printing error, electronic
transmission error,
or similar error, I agree, upon notice from Note Holder, to re-execute any documents that are necessary to replace
documents and return them within ten (10) days of recel; ipt. 1 also agree that I will not hold Lender responsible or correct any such
for any damages which
result from any such error,
12. SECURED NOTE
In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust, or Security
"Security Instrument"), dated the same date as this Note, protects the Note Holder from possible Deed (the
losses that might result if I do not
keep the promises that 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 und ler this Note. Some of these conditions are described as
follows:
(A) Until my initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section 2 above, Paragraph
18 of the Security Instrument shall read as follows:
Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, “Interest in the
Property” means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
© Pay ment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 ee. ear HBORFL
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@ LOAN #: 169478585
transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
transfer of title by Borrower at a future date to a purchaser.
If 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 transférred) 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.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
of not less than 30 days from the date the notice is 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.
(B) When my initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section 2 above,
Paragraph 18 of the Securl tyty Instrument described in Section 12) above shall then cease to be in effect, and Paragraph 18 of the
Security Instrument shall instead read as follows:
Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the
Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
transfer of title by Borrower at a future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower js 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
Joan 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 reasonable fees 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,
Jf Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of
acceleration, The notice shall providea 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,
13, DOCUMENT 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 ED.
DUNC: LOWRIE ~ Borrower
’
HELEN LOWRIE - Borrower
- Borrower
- Borrower
® Payment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 One Year LIBOR-FL
1E684-FL (12/06) Page & of
TOYTHE ORDEROF
PATOYTHE ORDEROF
PA
COUNTRYYDE Eo VINTHOUT RECOURSE
WiThou' "gS
HGME LOANS, ING.
COUNTRYWIGE
COUNTHYYIDE BANK, FSB
dites
ie PelersD BY huatute. Spaler
BY, TACHELE SJOLANDER:
TAUAIE MEDER
EXECUTIVE VICE PRESIDENT
SENIOR VIGE PRESIDENT
ee
- +
« ‘
Prepared by: SHERI THOMPSON. @ countrywi@bank, FSB.
DATE: 06/11/2007 Branch #1 0000342
BORROWER: DUNCAN LOWRIE 158 TUSKAWILLA ROAD SUITE 2328
CASE WINTER SPRINGS, FL 32708
LOAN 169478585 Phone: (407) 327-7660
Br Fax No.: (407) 327-8876
PROPERTY ADDRESS: 1244 GOLDEN CANNA LANE
CELEBRATION, FL 34747-4212
PREPAYMENT PENALTY ADDENDUM
THIS PREPAYMENT PENALTY ADDENDUM is dated JUNE 11, 2007 > and is incorporated
into and amends and supplements the Note of the same date (the "Note") given by me to
Ghe "Lender. The Note is secured by a Mortgage or Deed of Trust or comparable security instrument (the
Instrument") covering the property (the "Property") identified in the Security Instrument. "security
The section of the Note entitled "BORROWER'S RIGHT TO PREPAY" is replaced with the following new section:
BORROWER'S RIGHT TO PREPAY
Ihave the right to make payments of Principal at any time before the; -y are due, Such an advance payment of Principal
is known as a "Prepayment." I may make partial or full Prepayments. When I make a Prepayment, 1 will tell the Noté
Holder in writing that I am doing so. The Note Holder will use all of my Prepayments to reduce the amount
of Principal
that 1 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. I may not designate a
payment as a Prepayment if 1 have not made all the montbly payments due under the Note. If] make a partial Prepayment,
there will be no changes in the due dates of my monthly payments. 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.
© Prepayment Penalty Addendum
1E837-XX (05108)(4) Page 1 0f2
NC tii
.
® : @
Preview
Filing # 83994250 E-Filed 01/28/2019 02:25:46 PM IN THE CIRCUIT COURT OF THE 9TH JUDICIAL CIRCUIT IN AND FOR OSCEOLA COUNTY, FLORIDA CIVIL DIVISION THE BANK OF NEW YORK MELLON CASE NO: FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF CWALT, INC., ALTERNATIVE LOAN TRUST 2007-OH3, MORTGAGE PASS- THROUGH CERTIFICATES, SERIES 2007-0H3, Plaintiff, VS. ARCHI TRUST LLC, AS TRUSTEE FOR THE CERTIFICATE HOLDERS OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017; ANY AND ALL UNKNOWN BENEFICIARIES OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017; DUNCAN J. LOWRIE; HELEN LOWRIE; CELEBRATION RESIDENTIAL OWNERS' ASSOCIATION, INC.; ALL UNKNOWN PARTIES CLAIMING INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT TO THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN THE PROPERTY HEREIN DESCRIBED; UNKNOWN TENANT #1; UNKNOWN TENANT #2, Defendants. / VERIFIED COMPLAINT OF FORECLOSURE AND ENFORCEMENT OF LOST NOTE Page 1 of 9 File No: M180147 Plaintiff, THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF CWALT, INC., ALTERNATIVE LOAN TRUST 2007-OH3, MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007- OH3, through its undersigned counsel, sues Defendants ARCHI TRUST LLC, AS TRUSTEE FOR THE CERTIFICATE HOLDERS OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017; ANY AND ALL UNKNOWN BENEFICIARIES OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017; DUNCAN J. LOWRIE; HELEN LOWRIE; CELEBRATION RESIDENTIAL OWNERS' ASSOCIATION, INC.; ALL UNKNOWN PARTIES CLAIMING INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT TO THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN THE PROPERTY HEREIN DESCRIBED; UNKNOWN TENANT #1; UNKNOWN TENANT #2, and alleges: GENERAL ALLEGATIONS 1. This is an action for equitable relief, or alternatively for damages in excess of $15,000.00, to foreclose a mortgage on real property located in Osceola County, and for other relief within the subject matter jurisdiction ofthis Court. 2. This is an action that involves parties and property located within the venue of this Court, and venue is otherwise proper pursuant to Chapter 47, Florida Statutes. 3. All parties to this action are properly before this Court, and this Court has personal jurisdiction over the parties. Plaintiff, its successors and assigns, has the right to exercise any and all interests of the mortgage, including but not limited to, the right to foreclose the subject property. Page 2 of 9 File No: M180147 4. On or about June 11, 2007, DUNCAN J. LOWRIE and HELEN LOWRIE (hereinafter the “Borrowers”) executed and delivered a Promissory Note in the original principal amount of $354,850.00. A copy of the Promissory Note (the “Note”) is attached hereto as Exhibit “A”. 5. The Note was secured by a Mortgage, executed and delivered by DUNCAN J. LOWRIE and HELEN LOWRIE, dated June 11, 2007 and recorded in Official Records Book 03501 Page 2770 of Osceola County, Florida (the “Mortgage”). A copy of the Mortgage is attached hereto as Exhibit “B”. 6 Plaintiff is not in possession of the original note and mortgage, but is the present owner of the Note and Mortgage and entitled to enforce the instruments in accordance with §673.3011 and §673.3091 Florida Statutes and Fla. R. Civ. Pro. 1.210(a). Plaintiff, has designated NewRez, LLC f/k/a New Penn Financial, LLC d/b/a Shellpoint Mortgage Servicing ("Shellpoint"), as attorney-in-fact for the Plaintiff, pursuant to a Limited Power of Attorney. 7 The Note owned by Plaintiff, a copy of which is attached to the Complaint as Exhibit “A”, has been lost or misplaced. 8 The Plaintiff was either entitled to enforce the instrument when it was lost, or has directly or indirectly acquired ownership of the instrument from a person or entity that was entitled to enforce the instrument when loss of possession occurred. 9 The loss of possession of the Note was not the result of a transfer by the Plaintiff or a lawful seizure. 10, The Plaintiff will prove the terms and conditions ofthe subject promissory note and the right to enforce. Page 3 of 9 File No: M180147 ll. The Plaintiff will provide reasonable means for adequate protection to the Borrowers against any loss that might occur by reason of a claim by another person to enforce the instrument. 12. Plaintiff cannot reasonably obtain possession of the instruments because the whereabouts of the instruments cannot be determined. A copy of the Lost Note Affidavit is attached hereto as Exhibit “C”. 13. All conditions precedent to the filing ofthis action have been met by Plaintiff. 14, By virtue of Borrowers’ failure to make payments when due, Plaintiff has been forced to retain the services of the undersigned counsel, and has agreed to pay said attorneys a reasonable fee for their services. COUNT I- MORTGAGE FORECLOSURE 15. Plaintiff re-adopts and re-alleges paragraphs 1 through 14 set forth above. 16. This is an action to foreclose a mortgage on real property located in Osceola County, Florida. The legal description ofthe real property sought to be foreclosed is: LOT 41, CELEBRATION EAST VILLAGE UNIT 4, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 15, PAGES 1 THROUGH 28, OF THE PUBLIC RECORDS OF OSCEOLA COUNTY, FLORIDA. 17, The Defendant, ARCHI TRUST LLC, AS TRUSTEE FOR THE CERTIFICATE HOLDERS OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017, owns the property. 18. There is a default for the February 1, 2014, payment and all subsequent payments. 19, Plaintiff is authorized and hereby declares the full amount under the Note to be due and payable. Page 4 of 9 File No: M180147 20. Borrowers owe Plaintiff the principal sum of $407,528.04, plus outstanding and accrued interest, late charges, attorney’s fees and costs, and all expenses incurred in preparation of the title search for ascertaining necessary parties to this action, as well as other potential charges as provided in the loan documents, including, but not limited to, any sums advanced, or to be advanced, by Plaintiff for the payment of taxes or insurance or other expenses to protect Plaintiff's security interest or to maintain and preserve the subject real property. 21, Plaintiff has obligated itself to pay the undersigned attorneys a reasonable fee for their services herein and is entitled to recover said fees pursuant to the terms of the note and mortgage. 22, Defendant, ARCHI TRUST LLC, AS TRUSTEE FOR THE CERTIFICATE HOLDERS OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017, may claim some interest in, or lien upon, the subject property arising from their ownership of the property by virtue of the Trustee’s Deed recorded in Official Records Book 5200 Page 874 of the Public Records of Osceola County Florida; and the Notice of Lis Pendens recorded in Official Records Book 5235 Page 508 of the Public Records of Osceola County, Florida; of which interests are subordinate and inferior to the interest of Plaintiff's Mortgage. 23. Defendant, ANY AND ALL UNKNOWN BENEFICIARIES OF 082417-1244 LAND TRUST DATED AUGUST 24TH, 2017, may claim some interest in, or lien upon, the subject property by virtue of the Trustee’s Deed recorded in Official Records Book 5200 Page 874 of the Public Records of Osceola County Florida; and the Notice of Lis Pendens recorded in Official Records Book 5235 Page 508 of the Public Records of Osceola County, Florida; of which interests are subordinate and inferior to the interest of Plaintiff's Mortgage. Page 5 of 9 File No: M180147 24, Defendant, CELEBRATION RESIDENTIAL OWNERS' ASSOCIATION, INC., is joined because it may claim some interest in, or lien upon, the subject property by virtue of the Final Judgment of Foreclosure recorded in Official Records Book 4750 Page 2455 of the Public Records of Osceola County, Florida; and any possible association liens and assessments, but any such interests are subordinate and inferior to the interest of Plaintiff's Mortgage. 25, Defendants, UNKNOWN TENANT #1 and UNKNOWN TENANT 22, fictitious names representing tenants in possession, may claim some interest in the property that is the subject of this foreclosure action by virtue of being in actual possession of same, but any said interest Defendants may claim in the subject property, is subordinate and inferior to the interest of Plaintiff's Mortgage. 26. In addition to all other named Defendants, ALL UNKNOWN PARTIES CLAIMING INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT TO THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN THE SUBJECT PROPERTY HEREIN DESCRIBED, may be interested in the subject matter of this action as unknown spouses, tenants, heirs, devisees, grantees, assignees, lienors, creditors, trustees or other claimants by, through, under or against a known person who is dead or not known to be dead or alive, or by virtue of any interest in, or claim to, the property which is the subject of this action or otherwise as the case may be. These interests, if any, are subordinate and inferior to Plaintiff's Mortgage. WHEREFORE, Plaintiff prays as follows: a) That this Court take jurisdiction of this action and all parties named in this Complaint, and that this Court permit Plaintiff to join in this action by appropriate amended Page 6 of 9 File No: M180147 pleading any such additional parties as may be necessary for a full and complete determina tion of Plaintiff's rights on the lien of its Mortgage; b) That this Court make an accounting of the sum due to Plaintiff under the Note and Mortgage sued upon herein, together with interest, costs, sums advanced by Plaintiff to protect its security interest or to maintain or preserve the subject property, including but not limited to payment of environmental inspections and assessments, taxes, insurance and reasonable attorney’s fees incurred by Plaintiff: °) That this Court enter an Order requiring Borrowers to pay the amounts determined by this Court to be due and owing under the Note and Mortgage and that the sum of money found to be due, as aforesaid be decreed by this Court, to be a lien upon the lands described in Plaintiffs Mortgage. If the sum ordered by this Court to be paid is not paid within the time set by this Court, that the subject property be sold at public foreclosure sale to satisfy Plaintiff's claim. d) That this Court decree that the lien of the Plaintiff is superior to any and all right, title or interest of the Defendants herein or any person or parties claiming by, through or under them since the filing of the Lis Pendens; ¢) That this Court enter an Order entitling Plaintiffto enforce the lost Note pursuant to Florida Statute Section 673.3091; e) That all right, title or interest of the Defendants, or any person claiming by, through or under them, be forever barred and foreclosed; and f) That this Court retain jurisdiction to enter such further awards, including deficiency judgments, to the extent permitted by applicable Bankruptcy and State laws, and writs of possession, and to grant any and all additional relief as the Court may deem just, necessary and proper under the circumstances. Page 7 of 9 File No: M180147 TO ALL DEFENDANTS: PLEASE NOTE THAT EFFECTIVE OCTOBER 13, 2006, 15 U.S.C. §1692G OF THE FAIR DEBT COLLECTION PRACTICES ACT HAS BEEN AMENDED AS FOLLOWS: (a) LEGAL PLEADINGS — Section 809 of the Fair Debt Collection Practices Act (15 U.S.C. §1692g) is amended by adding at the end the following new subsection: “(d) Legal Pleadings — A communication in the form of a formal pleading in a civil action shall not be treated as an initial communication for purposes of subsection (a)” Dated this _ Ze day of wo 2019, Kelley Kronenberg Attorneys for Plaintiff 8201 Peters Road, Suite 4000 Whe, Fort Lauderdale, FL 33324 ae Phone: (954) 370-9970 Service email: ftlrealprop@kelleykronenberg.com fo Attorney email: mmarra@kelleykronenberg.com =_ By: /s/ Marc-A. Marra Marc Marra, ESQUIRE Florida Bar No. aul 85 Page 8 of 9 File No: M180147 Under penalty of perjury, I declare that I haye read the foregoing, and the facts alleged therein are true and correct to the best ofm knowledge and belief. NewRez, LLC f/k/a New Penn Financial, LLC d/b/a Shellpoint Mortgage Servicing, as attorey-in-fact for the Plaintiff THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF CWALT. ? INC., ALTERNATIVE LOAN TRUST 2007-0H3, MORTGAGE PASS- THROUGH CERTIFICATES, SERIES 2007-OH3 SEL Signature ———-- lana A meu Printed Name . a Fe Speer Title a ee ee wine. Lenten eee ee [-2349 Date Page 9 of 9 File No: M180147 EXHIBIT “A” ¢ Crdrrod A Prepared by: SHERI THOMPSON @ LOAN #: 169478585 PAYMENT ADVANTAGE Oman FIXED/ADJUSTABLE RATE NOTE (LIBOR One Year Index - Rate Caps) THIS NOTE CONTAINS PROVISIONS THAT WILL CHANGE MY FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE, THIS NOTE LIMITS THE AMOUNT MY ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY, FOR A LIMITED TIME I WILL HAVE A PAYMENT OPTION THAT IS LESS THAN THE FULL AMOUNT OF INTEREST DUE, IF I CHOOSE THIS OPTION, THE PRINCIPAL AMOUNT TO REPAY COULD BE GREATER THAN THE AMOUNT ORIGINALLY BORROWED, THIS NOTE CONTAINS A PREPAYMENT PENALTY. JUNE 11, 2007 CELBRATION FLORIDA Wate] [City] [State] 1244 GOLDEN CANNA LANE, CELEBRATION, FL 34747-4212 [Property Address] L BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $ 354,850.00 ("Principal"), plus interest, to the order of Lender. The Principal may increase as provided under the terms of this Note but will n jot exceed 115 percent of the Principal amount I ori iginally borrowed. This is called the "Maximum Negative Amortization Cap. " If I default under this Note or the Security Instrument, then default charges may cause the Maximum Negative Amortization Cap to be exceeded, Lender is Countrywide Bank, FSB. Iwill make all payments under this Note in the form of cash, check or money order, T understand that Lender may transfer this Note. Lender or its succe: ‘ssors 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 (A) Fixed Interest Rate Taterest will be charged on unpaid Principal until the full amount has been paid. Interest will initially accrue at a yearly rate of 7.625 %, This is my initial fixed interest rate and is the rate for determinin; ig the interest I owe until it changes as provided below. Interest will be charged on the basis of a twelve-month year and a thirty-day month, (B) Adjustable Interest Rate The initial fixed interest rate I owe will change to an adjustable interest rate on the first day of JULY, 2012 and the adjustable interest rate will change on that day every 12 month thereafter. The date on which my initial fixed interest rate changes to an adjustable interest rate, and each date on which my adjustable interest rate could change is called an "Interest Rate Change Date." The new rate of interest will become effective on each Interest Rate Change Date. {(C) Index Beginning with the first Interest Rate Change Date, my adjustable interest rate will be based on an Index. The “Index” is the average of interbank offered rates for one year U.S. dollar-denominated deposits in the London market ("LIBOR"), as published in The Wall Street Journal. The most recent Index figure available as of the date 45 days before each Interest Rate Chan; ige Date is called the “Current Index." * Payment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 One Year LIBOR-FL ‘1E684-FL (12/06)(d/i) Page 1 of 5 It A ®¥ y @ LOAN #: 169478585 If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choict (D) Calculation of Adjustable Interest Rate Changes Before each Interest Rate Change Date, the Note Hol fer will calculate my new adjustable interest rate by adding 2.250% (this amount is the "Margin") 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%). This rounded amount will be my new adjustable interest rate until the next Interest Rate Change Date, My adjustable interest rate will never be gi reater than 12.625 % or lower than the Margin. ) Limits on Interest Rate Chan: ges. ‘The interest rate in effect at the first Interest Rate Change e Date will not be greater than 12.625 % or less than 2.250 %, Thereafter, my adjustable interest rate will never be increased or decreased on any Single Interest Rate Change Date by more than 2 percentage points from the rate of interes t in effect for the preceding 12 months. 3. PAYMEN’ (A) Time and Place of Payments Twill make a payment every month. Twill make my monthly payments on the first day of each month beginning on AUGUST 01, 2007 - I will make these paym ents every month until I have paid all the Principal and interest and any other charges described below that I may owe under this Not te, Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If I still owe amounts under this Note on JULY 01, 2047 , L will pay those amounts in full on that date, which is called the "Maturity Date." Iwill make my monthly payments at P.O. Box 660694, Dallas, TX 75266-0694 or ata different place if required by the Note Holder. (B) Minimum Payment ‘The "Minimum Payment" is the minimum amount Note Holder will ace; pt for calculated three (3) different ways during the loan term: my monthly payment. The Minimum Payment is @ Until sony 01, 2017 ("Recast Date” ") or until the Maximum Negative Amortization Cap is reached, whichever is earlier, the Minimum Payment will be calculated using the then-current interest described in Section 2) minus rate (either fixed or adjustable as 4.000 percentage points, The result of this calculation is called the Rate.” The Minimum Payment Rate can never be lower than 1%, Since the Minimum “Minimum Payment applied to my unpaid Principal balance, the Mininium Paymé ent will be Payment Rate is less than the interest rate insufficient to pay the interest port tion of the monthly payment and no portion is applied to Principal. When I make a Minimu m Payment, which is based on the Minimum Payment Rate that is less than the rate of interest due, the unpaid interest is added to the Principal amount. This is known as "deferred interest” or "negative amortization." (i) If the unpaid Princip: al balance reaches the Maximum Negative Amortization Cap prior to the Minimum Payment will be the ie amoun’ it that would pay only the interest Recast Date, my new portion of the monthly payment based upon the then-current interest rate, which ch: anges in accordance with Section 2. This is the Minimum Payment in effect until the Recast Date. (ili) After the Recast Date and for the remainder of the Joan term, the Minimum Payment will be the monthly payment amount necessary to pay the Joan off, in full, at the Maturity Date in substantially interest rate, which changes in accordance with Section 2. equal payments based on the then-current (C) Initial Monthly Minimum Payment Each of my ‘nial monthly Minimum Payments until the frst Interest Rate Change Date will be in the amount of U.S. $1,401.39 @) Monthly Payment Changes Changes in my monthly payment will be the result of chan; iges in the unpald Principal that I must pay. The Note Holder will determine my new inter est rate and the changed amount balance of my loan and in the interest rate of my monthly payment in accordance with Sections 2 and 3 of this Note. © Payment Advantage Fixed/Adjustable Rate Note 3/1, 6/1, 7/1, 10/1 One Year HIBOR-FL 1E684-FL (12/06) Page 2 ® @ . LOAN #: 169478585 {E) Additions to My Unpaid Principal For each month that my monthly payment is less than the interest portion, the Note Holder will subtract the amount of my monthly payment from the amount of the interest due and will add the difference to my unpaid Principal. Interest will accrue on the amount of this difference at the interest rate required by Section 2, For each month th at the monthly payment is greater than the interest due, the Note Holder will apply the payment as provided in Section 3(A). (F) Payment Options Until the Recast Date, the Note Holder may provide me with up to three (8) additional monthly payment options ("Payment Options") if they are greater than the Minimum Payment. The Payment Options are calculated using the interest rate in accordance with Section 2. The following Payment Options may be provided: @ Interest O: nl ly Payment: the amount that would pay only the interest portion of the monthly payment. The Principal balance will not be decreased by this Payment Option and it is only available if the interest portion exceeds the Minimum Payment. (i) Amortized Payment: the amount necessary to pay the loan off (Principal and interest) at the Maturlty Date in substantially equal payments based on the then-current int lerest rate. (ii) 15 Year Amortized Payment: the amount necess ary to pay the loan off (Principal and interest) within a fifteen (15) year term from the first payment due date in substantially eq jual payments at the then-current interest rate, These Payment Options are only available if th ey are greater ihan the Minimum Payment, If the Maximum Negative Amortization Cap is reached, then the Payment Optio ns available will be the Amortized Payment and the 15 Year Amortized Payment. Upon the Recast Date I will no longer have P: ayment Opt tions and I will be required to pay the Amortized Payment, which becomes the Minimum Payment as described in Section 3(B) (iii), 4 NOTICE OF CHANGES The Note Holder will deliver or mail to me a notice of am ly changes in the amount of my monthly payment before the effective date of any change. The notice will include information require d by Iaw 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 Thave 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 thatI a im doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under this Note. J may make a full Prepayment or partial P: ‘repayments without paying any Prepayment charge, The Note Holder will use my Prepayments to reduce the amount of Princip al that I owe under this Note, If I make a partial Prepayment, there will be no changes in the due dates of my monthly payments, My partial Prepayment may reduce the amount of my monthly payments after the first Payment Change Date following my partial il Prepayment, However, any reduction that could result from 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 pe erm ted 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 me that exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal 1 owe under this Note or by y making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a paral Prepayment, 7. BORROWER'S FAILURE TO PAY AS REQUIRED {A) Late Charges for Overdue Pay its If the Note Holder has not received the full amount of any Minimum Payment by the end of fifteen (15) 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 5.000 % of the Minimum Payment. Iwill pay this late charge promptly but only once on each late payment, (B) Default If1 do not pay the full amount of each Minimum Payment on the date it is due, I will be in default, © Payment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 One Year LIBOR-FL 1E584-FL (12/08) Page 3 of § @ 67 ~ LOAN #: 169478585 (C) Notice of Default if Lam in default, the Note Holder may send me a written notice telling me that if I do not pay the Minimum Payment by a certain date, the Note H folder may require me to pay immediately the full amount of Principal that has not been paid and all the interest that I owe. The date mi ust 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 do: es 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 Jaw, These expenses include, for example, reasonable attomeys' fees. If 1 default under th is Note or the Security Instrument then default charges may cause the Maximum Negative Amortization Cap to be exceeded, 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 Prop erty Address above or at a different address if I give the Note Holder a notice of my different address, Unless the Note Holder re quires a different method, any notice that must be given to the Note Holder under this Note will be given by delivering it or by mail in, ig it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if] 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 obligatéd to keep all 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 ddo these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser to is also obligated to keep all the promises made in this Note. The Note*Holder may enforce its rights under of this Note, this Note against each person individually or against all of us together, This means that anyone of us may be required to pay all the amounts owed under this Note. 10, WAIVERS T 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 amot unts due have not been paid. 11. DOCUMENT CORRECTION In the event that Note Holder at any time discovers that this Not te, Security Instrument, Addenda, Rider or any other related to this loan is lost, misplaced, misstated, inaccurately Teflecis the true and correct terms and conditions document of the loan, or otherwise contains an error, such as a clerical mistake, calculation error, computer error, printing error, electronic transmission error, or similar error, I agree, upon notice from Note Holder, to re-execute any documents that are necessary to replace documents and return them within ten (10) days of recel; ipt. 1 also agree that I will not hold Lender responsible or correct any such for any damages which result from any such error, 12. SECURED NOTE In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust, or Security "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible Deed (the losses that might result if I do not keep the promises that 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 und ler this Note. Some of these conditions are described as follows: (A) Until my initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section 2 above, Paragraph 18 of the Security Instrument shall read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, “Interest in the Property” means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests © Pay ment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 ee. ear HBORFL 1E684-FL (1 > ® - @ LOAN #: 169478585 transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If 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 transférred) 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. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is 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. (B) When my initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section 2 above, Paragraph 18 of the Securl tyty Instrument described in Section 12) above shall then cease to be in effect, and Paragraph 18 of the Security Instrument shall instead read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower js 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 Joan 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 reasonable fees 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, Jf Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration, The notice shall providea 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, 13, DOCUMENT 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 ED. DUNC: LOWRIE ~ Borrower ’ HELEN LOWRIE - Borrower - Borrower - Borrower ® Payment Advantage Fixed/Adjustable Rate Note 3/1, 5/1, 7/1, 10/1 One Year LIBOR-FL 1E684-FL (12/06) Page & of TOYTHE ORDEROF PATOYTHE ORDEROF PA COUNTRYYDE Eo VINTHOUT RECOURSE WiThou' "gS HGME LOANS, ING. COUNTRYWIGE COUNTHYYIDE BANK, FSB dites ie PelersD BY huatute. Spaler BY, TACHELE SJOLANDER: TAUAIE MEDER EXECUTIVE VICE PRESIDENT SENIOR VIGE PRESIDENT ee - + « ‘ Prepared by: SHERI THOMPSON. @ countrywi@bank, FSB. DATE: 06/11/2007 Branch #1 0000342 BORROWER: DUNCAN LOWRIE 158 TUSKAWILLA ROAD SUITE 2328 CASE WINTER SPRINGS, FL 32708 LOAN 169478585 Phone: (407) 327-7660 Br Fax No.: (407) 327-8876 PROPERTY ADDRESS: 1244 GOLDEN CANNA LANE CELEBRATION, FL 34747-4212 PREPAYMENT PENALTY ADDENDUM THIS PREPAYMENT PENALTY ADDENDUM is dated JUNE 11, 2007 > and is incorporated into and amends and supplements the Note of the same date (the "Note") given by me to Ghe "Lender. The Note is secured by a Mortgage or Deed of Trust or comparable security instrument (the Instrument") covering the property (the "Property") identified in the Security Instrument. "security The section of the Note entitled "BORROWER'S RIGHT TO PREPAY" is replaced with the following new section: BORROWER'S RIGHT TO PREPAY Ihave the right to make payments of Principal at any time before the; -y are due, Such an advance payment of Principal is known as a "Prepayment." I may make partial or full Prepayments. When I make a Prepayment, 1 will tell the Noté Holder in writing that I am doing so. The Note Holder will use all of my Prepayments to reduce the amount of Principal that 1 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. I may not designate a payment as a Prepayment if 1 have not made all the montbly payments due under the Note. If] make a partial Prepayment, there will be no changes in the due dates of my monthly payments. 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. © Prepayment Penalty Addendum 1E837-XX (05108)(4) Page 1 0f2 NC tii . ® : @