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Filing # 192270709 E-Filed 02/19/2024 07:32:50 PM
IN THE CIRCUIT COURT OF THE FIFTH
JUDICIAL CIRCUIT IN AND FOR MARION
COUNTY, FLORIDA
GENERAL JURISDICTION DIVISION
CASE NO.
MORTGAGE ASSETS MANAGEMENT,
LLC,
Plaintiff,
VS.
HUBERT H. MCCALLA, PERSONAL
REPRESENTATIVE OF THE ESTATE OF
JAMES L. CAPPS, DECEASED, et. al.,
Defendant(s).
NOTICE OF SUBMITTING FLA.STAT.§ 702.015(4) CERTIFICATION
Plaintiff, by and through its undersigned counsel, hereby submits contemporaneously
with the Complaint in this case the attached Certification of Possession pursuant to
Fla.Stat.§702.015(4).
ROBERTSON, ANSCHUTZ, SCHNEID, CRANE & PARTNERS, PLLC
Attorney for Plaintiff
6409 Congress Ave., Suite 100
Boca Raton, FL 33487
Telephone: 561-241-6901
Facsimile: 561-997-6909
Service Email: flmail@raslg.com
By: _\S\Ryan Lumbreras_
Ryan Lumbreras, Esquire
Florida Bar No. 72596
Communication Email: rlumbreras@raslg.com
UUM ALAN ADA
PAGE 1
23-171112
Electronically Filed Marion Case # 24CA000346AX 02/19/2024 07:32:50 PM
CERTIFICATION OF POSSESSION PURSUANT TO FLA. STAT. 702.015(4)
STATE OF FLORIDA)
COUNTY OF PALM BEACH)
BEFORE me, personally appeared Jasmine Jones who, being of lawful age and after
being first duly sworn, deposes and says:
I am a Servicing Operations Specialist for PHH Mortgage Corporation (“PMC”), Servicer
for Plaintiff in this action. In this capacity I have personal knowledge of the facts and
matters stated herein, and I am authorized to execute this Certification on behalf of
PMC. The information contained in this Certification is based on my personal
knowledge
According to the Records, the promissory note at issue, dated 02/28/2007
was executed by JAMES L CAPPS AND DORIS E CAPPS. A true and correct copy of
the Note is attached to this Certification as Exhibit “A.”
On January 11, 2024 at 3:10 PM, I obtained the original Note document at 5720 Premier
Park Drive, West Palm Beach, FL 33407 and personally verified that PHH Mortgage
Corporation (“PMC”), is in possession of the Note on Behalf of Plaintiff.
Prepared Date: January 11, 2024
Signature:
Date: 0f/11/2024
Print Name: ‘ine Jones
Titl ervicing Operations Spécialist
The foregoing instrument was acknowledged and sworn before me by means of [X] physical
presence or [ ] online notarization on 01/11/2024, by Jasmine Jones as a Servicing Operations
Specialist for PHH Mortgage Corporation, who is personally known to me (or who has
produced the following identification: n/a).
Notary, fate of Florida Doce ID: 2128511287
mf
lotary Public State of Florida
Jennifer Lee
My Commission Garz on
HH 471628
Expires 12/10/2027
»
ADJUSTABLE-RATE NOTE
HOME EQUITY CONVERSION
a
State of Florida
Date: February 28, 2007
Property Address: 6300 SW 144th Street Road Ocala, FL 34473
Borrower's Post Office Address (if different from above):
DEFINITIONS
“Borrower” means each person signing at the end of this Note. "Lender means: Seattle Mortgage Company and its
successors and assigns. "Secretary" means the Secretary of Housing and Urban Development or his or her authorized
representatives.
BORROWER'S PROMISE TO PAY; INTEREST
In retum for amounts to be advanced by Lender to or for the benefit of Borrower, including future advances up to a
maximum. principal amount of $300,240.00, under the terms of a Home Equity Conversion Loan Agreement dated
February 28, 2007 (“Loan Agreement"), Borrower promises to pay to the order of Lender a principal amount equal to
the sum of all Loan Advances made under the Loan Agreement with interest. All amounts advanced by Lendet, plus
interest, if not paid earlier, are due and payable on December 23, 2086. Interest will be charged on unpaid principal at
the rate of Six and 5/10's percent (6.05%) per year until the full amount of principal has been paid. The interest rate
may change in accordance with Paragraph 5 of this Note. Accrued interest shall be added to the Principal balance as
a Laan Advance
at the end of each month,
PROMISE
TO PAY SECURED
Borrower's promise to pay is secured by a mortgage, deed of trust or similar security instrument that is dated the
same date as this Note and called the "Security Instrument.” That Security Instrument protects the Lender from losses
which might result if Borrower defaults under this Note.
MANNER OF PAYMENT
(A) Time
Borrower shall pay all outstanding principal and accrued interest to Lender upon receipt of a notice by Lender
requiring immediate payment-in-full, as provided in Paragraph 7 ofthis Note.
(8) Place
Payment shall be made at) SEATTLE MORTGAGE COMPANY, 180 QUEEN ANNE AVE N, SUITE 5900,
SEATTLE, WA 98109 or any such other place as Lender may designate in writing by notice to Borrower.
(c) Limitation of Liability
Borrower shall have no personal liability for payment of the debt. Lender shall enforce the debt only through sale
of the Property covered by the Security Instrument ("Property"). If this Note is assigned to the Secretary, the
Borrower shall not be liable for any difference between the mortgage insurance benefits paid to Lender and the
outstanding indebtedness, Including accrued interest, owed by Borrower at the time of the assignment.
INTEREST RATE CHANGES:
(A) Change Date
‘The interest rate may change on the first day of May 2007, and on [] that day of each succeeding year [X] the
first day of each succeeding month. “Change Date” means each date on which the interest rate could change.
The Index
Beginning with the first Change Date, the interest rate will be based on an Index. “Index” means the weekly
average yield on United States Treasury Securities adjusted to a constant maturity of one year, as made
available by the Federal Reserve Board. “Current Index" means the mast recent Index figure available 30 days
before the Change Date. If the Index (as defined above) is no longer available, Lender will use as a new Index any
index prescribed by the Secretary. Lender will give Borrower notice of the new Index.
(c Calculation of Interest Rate Changes
Before each Change Date, Lender will calculate a new interest rate by adding a margin of One and 0/10's
Percentage points (1%) to the current Index. Subject to the limits stated in Paragraph 6(D) of this Note, this
amount will be the new interest rate until the next Change Date.
©) Limits on Interest Rate Changes
0 ‘he interest rate will never increase or decrease by more than two percentage points (2.0%) on any single
Change Date. The interest rate will never be more than five percentage points (5.0%) higher or lower than the
Initial interest rate stated in Paragraph 2 of this Note.
Mortgage Cadence Inc. © - 0335 (05/08) (org Florida Adjustable-Rate HECM Note
+ -
{X] The interest rate will never increase above Sixteen and 5/10's percent (16.05%).
(Ee) Notice of Changes
Lender will give notice to Borrower of any change in the interest rate. The notice must be given at least
25 days
before the new interest rate takes effect, and must set forth (i) the date of the notice, (ji) the Change Date, (iii)
the old interest rate, (iv) the new interest rate, (v) the Current Index, (vi) the method of calculating the adjusted
interest rate, and (vi) any other information which may be required by taw from time te time.
(F) Effective Date of Changes
A new interest rate calculated in accordance with paragraphs 5(C) and 5(D) of this Note will become effective on
the Change Date, unless the Change Date occurs less than 25 days after Lender has given the required notice. If
the interest rate calculated in accordance with Paragraphs 5(C) and 5(D) of this Note decreased, but Lender
failed to give timely notice of the decrease and applied a higher rate than the rate which should have been stated
in a timely notice, then Lender shall recalculate the principal balance owed under this Note so it does not reflect
any excessive interest.
6. BORROWER'S RIGHT TO PREPAY
A Borrower receiving monthly payments under the Loan Agreement has the tight to pay the debt evidenced by this
Note, in whole or in part, without charge or penalty on the first day of any month. Otherwise, a Borrower has the right
to pay the debt evidenced by this Note, in whole or in part, without charge or penalty after giving Lender two weeks
notice, Any amount of debt prepaid will first be applied to reduce the Principal balance of the Second Note described in
Paragraph 11 of this Note and then to reduce the principal balance of this Note.
-
All prepayments of the principal balance shail be applied by Lender as follows:
First, to that portion of the principal balance representing aggregate payments for mortgage insurance premiums;
Second, to that portion of the principal balance representing aggregate payments for sercing fees;
Third, to that portion of the principal balance representing accrued interest due under the Note; and
Fourth, to the remaining portion of the principal balance. A Borrower may specify whether a prepayment is to be
credited to that portion of the principal balance representing monthly payments or the line of credit. If Borrower
does not designate which portion of the principal balance is to be prepaid, Lender shall apply any partial
Prepayments to an existing line of credit or create a new line of credit.
7 IMMEDIATE PAYMENT-IN-FULL
(A) Death or Sale
Lender may require immediate payment-in-full of all outstanding principal and accmued interest if,
@ A Borrower dies and the Property is not the principal residence of at least one surviving Borrower, or
Gi) A Borrower conveys all of his or her title to the Property and no other Borrower retains title to the Property
in fee simple or on a leasehold interest as set forth in 24 CFR 206.45(a).
(B) Other Grounds
Lender may require immediate payment-in-full of all outstanding principal and accrued interest, upon approval by
an authorized representative of the Secretary, if:
@ The Property ceases to be the principal residence of a Borrower for reasons other than death and the
Property is not the principal residence of at least one other Borrower,
(i) For a period of longer than 12 consecutive months, a Borrower fails to physically occupy the Property
because of physical or mental illness and the Property is nat the principal residence of at least one other
Borrower, or
(iy An obligation of the Borrower under the Security Instrument is not performed,
(ce) Payment of Costs and Expenses
If Lender has required immediate payment-in-full as described above, the debt enforced through sale of the
Property may include costs and expenses, including reasonable and customary attorney's fees, associated with
enfortement of this Note to the extent not prohibited by applicable law. Such fees and costs shall bear interest
from the date of disbursement at the same rate as the principal of this Note.
{D) Trusts
Conveyance of a Borrower's interest in the Property to a trust which meets the requirements of the Secretary, or
conveyance of a trust's interests in the Property to a Borrower, shall not be considered a conveyance for
purposes _of this Paragraph. A trust shall not be considered an occupant or be considered as having a principal
residence for purposes of this Paragraph.
Mortgage Cadence Inc. © - 0335 (05/05) Qo a Florida Adjustable-Rate HECM Note
.
8. WAIVERS
Borrower waives the rights of presentment and notice of dishonor. “Presentment” means the right to require Lender to
demand payment of amounts due. “Notice of dishonor’ means the right to require Lender to give notice to other
persons that amounts due have not been paid.
2. GIVING OF NOTICES
Unless applicable law requires a different methad, any notice that must be given to Borrower under this Note will be
given by delivering it or by mailing it by first class mail to Borrower at the Property address above or at a different
address if Borrower has given Lender a notice of Borrower's different address.
Any notice that must be given to Lender under this Note will be given by first class mail to Lender at the address
stated in Paragraph 4(B) or at an different address if Borrower is given a notice of that different address.
10. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fully obligated to keep all of the promises made in this Note.
Lender may enforce its rights under this Note only through sale of the Property.
11. RELATIONSHIP TO SECOND NOTE -
(A) Second Note
Because Borrower will be required to repay amounts which the Secretary may make to or on behalf of Borrower
pursuant to Section 255(/)(1)(A) of the National Housing Act and the Loan Agreement, the Secretary has
required Borrower to grant a Second Note to the Secretary,
{B) Relationship of Secretary Payments to this Note
Payments made by the Secretary shall not be included in the debt due under this Note unless:
a ‘This Note is assigned to the Secretary; or
a) The Secretary accepts reimbursements by the Lender for all payments made by the Secretary.
If the circumstances described in (j) or (ii) occur, then all payments by the Secretary, including interest on the
payments, shall be included in the debt.
(co) Effect on Borrower
Where there is no assignment or reimbursement as described in (B)(I) or (ii), and the Secretary makes
payments to Borrower, then Borrower shall not:
@ Be required to pay amounts owed under this Note until the Secretary; has required payment-in-full of all
outstanding principal and accrued interest under the Second: Note hi eld by the Secretary, notwithstanding
anything to the contrary in Paragraph 7 of this Note;
(i) Be obligated to pay interest or shared appreciation under this Note at any time, whether accrued before or
after the payments by the Secretary, and whether or not accrued interest has been included in the
principal balance of this Note, notwithstanding anything to the contrary in Paragraphs 2 or 5 of this Note or
any Allonge to this Note.
12. SHARED APPRECIATION (If Applicable)
If Borrower has executed a Shared Appreciation Alionge, the covenants of the Allonge shall be incorporated into and
supplement the covenants of this Note as if the Allonge were a part of this Note,
The state documentary tax due on this Note has been paid on the mortgage securing the indebtedness.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Note.
Date: @2z-rmp.o7
QeA, 2
Games L. Capps
Mortgage Cadence Inc. @ - 0335 (05/08) @ot3) Florida Adjustable-Rate HECM Note
PAY TO THE ORDER OF
PAY TO THE ORDEROF
SEATTLE SAVINGS BANK
WITHOUT RECOURSE WITHOUT RECOURSE
SEATTLE MORTGAGE COMPANY SEATTLE SAVINGS BANK
wdViCE PRESIDENT
MARGARET COUSINS
VICE PRESIDENT
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Filing # 192270709 E-Filed 02/19/2024 07:32:50 PM IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT IN AND FOR MARION COUNTY, FLORIDA GENERAL JURISDICTION DIVISION CASE NO. MORTGAGE ASSETS MANAGEMENT, LLC, Plaintiff, VS. HUBERT H. MCCALLA, PERSONAL REPRESENTATIVE OF THE ESTATE OF JAMES L. CAPPS, DECEASED, et. al., Defendant(s). NOTICE OF SUBMITTING FLA.STAT.§ 702.015(4) CERTIFICATION Plaintiff, by and through its undersigned counsel, hereby submits contemporaneously with the Complaint in this case the attached Certification of Possession pursuant to Fla.Stat.§702.015(4). ROBERTSON, ANSCHUTZ, SCHNEID, CRANE & PARTNERS, PLLC Attorney for Plaintiff 6409 Congress Ave., Suite 100 Boca Raton, FL 33487 Telephone: 561-241-6901 Facsimile: 561-997-6909 Service Email: flmail@raslg.com By: _\S\Ryan Lumbreras_ Ryan Lumbreras, Esquire Florida Bar No. 72596 Communication Email: rlumbreras@raslg.com UUM ALAN ADA PAGE 1 23-171112 Electronically Filed Marion Case # 24CA000346AX 02/19/2024 07:32:50 PM CERTIFICATION OF POSSESSION PURSUANT TO FLA. STAT. 702.015(4) STATE OF FLORIDA) COUNTY OF PALM BEACH) BEFORE me, personally appeared Jasmine Jones who, being of lawful age and after being first duly sworn, deposes and says: I am a Servicing Operations Specialist for PHH Mortgage Corporation (“PMC”), Servicer for Plaintiff in this action. In this capacity I have personal knowledge of the facts and matters stated herein, and I am authorized to execute this Certification on behalf of PMC. The information contained in this Certification is based on my personal knowledge According to the Records, the promissory note at issue, dated 02/28/2007 was executed by JAMES L CAPPS AND DORIS E CAPPS. A true and correct copy of the Note is attached to this Certification as Exhibit “A.” On January 11, 2024 at 3:10 PM, I obtained the original Note document at 5720 Premier Park Drive, West Palm Beach, FL 33407 and personally verified that PHH Mortgage Corporation (“PMC”), is in possession of the Note on Behalf of Plaintiff. Prepared Date: January 11, 2024 Signature: Date: 0f/11/2024 Print Name: ‘ine Jones Titl ervicing Operations Spécialist The foregoing instrument was acknowledged and sworn before me by means of [X] physical presence or [ ] online notarization on 01/11/2024, by Jasmine Jones as a Servicing Operations Specialist for PHH Mortgage Corporation, who is personally known to me (or who has produced the following identification: n/a). Notary, fate of Florida Doce ID: 2128511287 mf lotary Public State of Florida Jennifer Lee My Commission Garz on HH 471628 Expires 12/10/2027 » ADJUSTABLE-RATE NOTE HOME EQUITY CONVERSION a State of Florida Date: February 28, 2007 Property Address: 6300 SW 144th Street Road Ocala, FL 34473 Borrower's Post Office Address (if different from above): DEFINITIONS “Borrower” means each person signing at the end of this Note. "Lender means: Seattle Mortgage Company and its successors and assigns. "Secretary" means the Secretary of Housing and Urban Development or his or her authorized representatives. BORROWER'S PROMISE TO PAY; INTEREST In retum for amounts to be advanced by Lender to or for the benefit of Borrower, including future advances up to a maximum. principal amount of $300,240.00, under the terms of a Home Equity Conversion Loan Agreement dated February 28, 2007 (“Loan Agreement"), Borrower promises to pay to the order of Lender a principal amount equal to the sum of all Loan Advances made under the Loan Agreement with interest. All amounts advanced by Lendet, plus interest, if not paid earlier, are due and payable on December 23, 2086. Interest will be charged on unpaid principal at the rate of Six and 5/10's percent (6.05%) per year until the full amount of principal has been paid. The interest rate may change in accordance with Paragraph 5 of this Note. Accrued interest shall be added to the Principal balance as a Laan Advance at the end of each month, PROMISE TO PAY SECURED Borrower's promise to pay is secured by a mortgage, deed of trust or similar security instrument that is dated the same date as this Note and called the "Security Instrument.” That Security Instrument protects the Lender from losses which might result if Borrower defaults under this Note. MANNER OF PAYMENT (A) Time Borrower shall pay all outstanding principal and accrued interest to Lender upon receipt of a notice by Lender requiring immediate payment-in-full, as provided in Paragraph 7 ofthis Note. (8) Place Payment shall be made at) SEATTLE MORTGAGE COMPANY, 180 QUEEN ANNE AVE N, SUITE 5900, SEATTLE, WA 98109 or any such other place as Lender may designate in writing by notice to Borrower. (c) Limitation of Liability Borrower shall have no personal liability for payment of the debt. Lender shall enforce the debt only through sale of the Property covered by the Security Instrument ("Property"). If this Note is assigned to the Secretary, the Borrower shall not be liable for any difference between the mortgage insurance benefits paid to Lender and the outstanding indebtedness, Including accrued interest, owed by Borrower at the time of the assignment. INTEREST RATE CHANGES: (A) Change Date ‘The interest rate may change on the first day of May 2007, and on [] that day of each succeeding year [X] the first day of each succeeding month. “Change Date” means each date on which the interest rate could change. The Index Beginning with the first Change Date, the interest rate will be based on an Index. “Index” means the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board. “Current Index" means the mast recent Index figure available 30 days before the Change Date. If the Index (as defined above) is no longer available, Lender will use as a new Index any index prescribed by the Secretary. Lender will give Borrower notice of the new Index. (c Calculation of Interest Rate Changes Before each Change Date, Lender will calculate a new interest rate by adding a margin of One and 0/10's Percentage points (1%) to the current Index. Subject to the limits stated in Paragraph 6(D) of this Note, this amount will be the new interest rate until the next Change Date. ©) Limits on Interest Rate Changes 0 ‘he interest rate will never increase or decrease by more than two percentage points (2.0%) on any single Change Date. The interest rate will never be more than five percentage points (5.0%) higher or lower than the Initial interest rate stated in Paragraph 2 of this Note. Mortgage Cadence Inc. © - 0335 (05/08) (org Florida Adjustable-Rate HECM Note + - {X] The interest rate will never increase above Sixteen and 5/10's percent (16.05%). (Ee) Notice of Changes Lender will give notice to Borrower of any change in the interest rate. The notice must be given at least 25 days before the new interest rate takes effect, and must set forth (i) the date of the notice, (ji) the Change Date, (iii) the old interest rate, (iv) the new interest rate, (v) the Current Index, (vi) the method of calculating the adjusted interest rate, and (vi) any other information which may be required by taw from time te time. (F) Effective Date of Changes A new interest rate calculated in accordance with paragraphs 5(C) and 5(D) of this Note will become effective on the Change Date, unless the Change Date occurs less than 25 days after Lender has given the required notice. If the interest rate calculated in accordance with Paragraphs 5(C) and 5(D) of this Note decreased, but Lender failed to give timely notice of the decrease and applied a higher rate than the rate which should have been stated in a timely notice, then Lender shall recalculate the principal balance owed under this Note so it does not reflect any excessive interest. 6. BORROWER'S RIGHT TO PREPAY A Borrower receiving monthly payments under the Loan Agreement has the tight to pay the debt evidenced by this Note, in whole or in part, without charge or penalty on the first day of any month. Otherwise, a Borrower has the right to pay the debt evidenced by this Note, in whole or in part, without charge or penalty after giving Lender two weeks notice, Any amount of debt prepaid will first be applied to reduce the Principal balance of the Second Note described in Paragraph 11 of this Note and then to reduce the principal balance of this Note. - All prepayments of the principal balance shail be applied by Lender as follows: First, to that portion of the principal balance representing aggregate payments for mortgage insurance premiums; Second, to that portion of the principal balance representing aggregate payments for sercing fees; Third, to that portion of the principal balance representing accrued interest due under the Note; and Fourth, to the remaining portion of the principal balance. A Borrower may specify whether a prepayment is to be credited to that portion of the principal balance representing monthly payments or the line of credit. If Borrower does not designate which portion of the principal balance is to be prepaid, Lender shall apply any partial Prepayments to an existing line of credit or create a new line of credit. 7 IMMEDIATE PAYMENT-IN-FULL (A) Death or Sale Lender may require immediate payment-in-full of all outstanding principal and accmued interest if, @ A Borrower dies and the Property is not the principal residence of at least one surviving Borrower, or Gi) A Borrower conveys all of his or her title to the Property and no other Borrower retains title to the Property in fee simple or on a leasehold interest as set forth in 24 CFR 206.45(a). (B) Other Grounds Lender may require immediate payment-in-full of all outstanding principal and accrued interest, upon approval by an authorized representative of the Secretary, if: @ The Property ceases to be the principal residence of a Borrower for reasons other than death and the Property is not the principal residence of at least one other Borrower, (i) For a period of longer than 12 consecutive months, a Borrower fails to physically occupy the Property because of physical or mental illness and the Property is nat the principal residence of at least one other Borrower, or (iy An obligation of the Borrower under the Security Instrument is not performed, (ce) Payment of Costs and Expenses If Lender has required immediate payment-in-full as described above, the debt enforced through sale of the Property may include costs and expenses, including reasonable and customary attorney's fees, associated with enfortement of this Note to the extent not prohibited by applicable law. Such fees and costs shall bear interest from the date of disbursement at the same rate as the principal of this Note. {D) Trusts Conveyance of a Borrower's interest in the Property to a trust which meets the requirements of the Secretary, or conveyance of a trust's interests in the Property to a Borrower, shall not be considered a conveyance for purposes _of this Paragraph. A trust shall not be considered an occupant or be considered as having a principal residence for purposes of this Paragraph. Mortgage Cadence Inc. © - 0335 (05/05) Qo a Florida Adjustable-Rate HECM Note . 8. WAIVERS Borrower waives the rights of presentment and notice of dishonor. “Presentment” means the right to require Lender to demand payment of amounts due. “Notice of dishonor’ means the right to require Lender to give notice to other persons that amounts due have not been paid. 2. GIVING OF NOTICES Unless applicable law requires a different methad, any notice that must be given to Borrower under this Note will be given by delivering it or by mailing it by first class mail to Borrower at the Property address above or at a different address if Borrower has given Lender a notice of Borrower's different address. Any notice that must be given to Lender under this Note will be given by first class mail to Lender at the address stated in Paragraph 4(B) or at an different address if Borrower is given a notice of that different address. 10. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully obligated to keep all of the promises made in this Note. Lender may enforce its rights under this Note only through sale of the Property. 11. RELATIONSHIP TO SECOND NOTE - (A) Second Note Because Borrower will be required to repay amounts which the Secretary may make to or on behalf of Borrower pursuant to Section 255(/)(1)(A) of the National Housing Act and the Loan Agreement, the Secretary has required Borrower to grant a Second Note to the Secretary, {B) Relationship of Secretary Payments to this Note Payments made by the Secretary shall not be included in the debt due under this Note unless: a ‘This Note is assigned to the Secretary; or a) The Secretary accepts reimbursements by the Lender for all payments made by the Secretary. If the circumstances described in (j) or (ii) occur, then all payments by the Secretary, including interest on the payments, shall be included in the debt. (co) Effect on Borrower Where there is no assignment or reimbursement as described in (B)(I) or (ii), and the Secretary makes payments to Borrower, then Borrower shall not: @ Be required to pay amounts owed under this Note until the Secretary; has required payment-in-full of all outstanding principal and accrued interest under the Second: Note hi eld by the Secretary, notwithstanding anything to the contrary in Paragraph 7 of this Note; (i) Be obligated to pay interest or shared appreciation under this Note at any time, whether accrued before or after the payments by the Secretary, and whether or not accrued interest has been included in the principal balance of this Note, notwithstanding anything to the contrary in Paragraphs 2 or 5 of this Note or any Allonge to this Note. 12. SHARED APPRECIATION (If Applicable) If Borrower has executed a Shared Appreciation Alionge, the covenants of the Allonge shall be incorporated into and supplement the covenants of this Note as if the Allonge were a part of this Note, The state documentary tax due on this Note has been paid on the mortgage securing the indebtedness. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Note. Date: @2z-rmp.o7 QeA, 2 Games L. Capps Mortgage Cadence Inc. @ - 0335 (05/08) @ot3) Florida Adjustable-Rate HECM Note PAY TO THE ORDER OF PAY TO THE ORDEROF SEATTLE SAVINGS BANK WITHOUT RECOURSE WITHOUT RECOURSE SEATTLE MORTGAGE COMPANY SEATTLE SAVINGS BANK wdViCE PRESIDENT MARGARET COUSINS VICE PRESIDENT