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FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024
NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF WESTCHESTER
MORTGAGE ASSETS MANAGEMENT, LLC, CERTIFICATE OF MERIT
PlaintilT, INDEX NO.
vs.
DEBRA A. CAREY, AS HEIR AND DISTRIBUTEE
OF THE ESTATE OF ARISTEDES COSTA; JUDEE
M. CIRILLO A/K/A JUDEE M. COSTA, AS HEIR
AND DISTRIBUTEE OF THE ESTATE OF
ARISTEDES COSTA; HEIRS AND
DISTRIBUTEES OF THE ESTATE OF ARISTEDES
COSTA; SECRETARY OF HOUSING AND
URBAN DEVELOPMENT; NEW YORK STATE
DEPARTMENT OF TAXATION AND FINANCE;
UNITED STATES OF AMERICA,
#1" #12,"
"JOHN DOE through "JOHN DOE the
last twelve names being fictitious and unknown to
plaintiff, the persons or parties intended being the
tenants, occupanta, persons or corporations, if any,
having or claiming an interest in or lien upon the
premises, described in the complaint,
Defendant(s).
1. I am an duly licensed to practice in the state of New York and am affiliated
attorney
with the law firm of Robertson, Anschutz, Schneid, Crane & Partners, PLLC, the
attorneys for the above-named plaintiff.
2. Hanny Bailey, a Contract Management Coordinator of plaintiff or plaintiffs servicer,
confirmed that she personally reviewed plaintiffs documents and records relating to
this case for factual accuracy.
3. Based upon my review of the communicadon with plaintiffs representative, as well. as
upon my own inspection of the.documents and other diligent inquiry, I certify that to
the best of my knowledge, information and belief, there exists a reasonable basis for
lilllIllAllIIIIIIIIlllMIIII IIIIIIIIllNIIIIIIIIIIIIIIHIllIII IIIllIIIIIIlillAllIll
23-130598 - NiA
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the commencement of a mortgage foreclosure action and that plaintiff or its nominee
is entitled to enfome its rights under the loan documents in accordance with
applicable law.
4. All of the relevant documents, all of which have been reviewed by me, are attached to
this Certificate of Merit.
Dated: April 8, 2024
Westbury, New York
BY:
{ ] S . BORTSKIN, ESQ.
[ ] ANTHONY CELLUCCI, ESQ.
[ ] SCOTT R. WEISS, ESQ.
[X] KELLY R. FABER, ESQ.
23-130598 - NiA
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FIXED RATE NOTE - CLOSED END
(HOME EQUITY CONVERSION)
STATE OF NY
April 29 2009
PROPERTY
3 rock Rd
V A, NY 18595
Westchester COUNTY
L DEFINr“lONS
"Bomms mema esch personsigningat Ihe and of this Note. "Lend.er"meansMetLHe Rome Loam, a Divislum of MetUls
"Secretary"
Bank, N.A. and its succesars and assips. meansthe Secretaryof Housing and Urban Development or his ur hot
authorizedrepresentatives.
2. BORROWRR+S PROM1SE TO PAY; INTEREST
In resum Ibr amounts to be advancedby Lendst up to a maximum principal amountof NIne Handred TMrty-Eight Thousand
he Huthdred FNty and 09/198 Detters ($938,2die.09),to or for the benefit of Barrower under the tenns of a Home Equity
Conversion Lean Agreement dated AprG 29, 2899 ("laan Agreement"), Berewm pnuniscs to pay to the order of Iander a
principal amount mual lo Ihe sum of all Loan Advances made under Ike I.oan Agreanent with interest- AD enounts
advancesby lander, plus interes1, inot paid curlier, are due end payableon Sepduraher22, 208L laterest will be chargedon
unpaid principal at the rate of Five and $Ii/I.90 percent (5.560%) per year until the full amount of principal has been paid.
Accrued intmost shdi be added to the principM bahmovas a Loan Advance at. the ond or each month and shall Skewisc
thereaser bear interest,
3, PROMISE m PAY SECURED
Dorrowers promise to pay is securedby a mortgage, deedof trust or sitnilar secuDty instatment that is.detedthe sune date.as
this Neln arid called the "Security instrument That Securky Iratrument protocle the lander inue losseswhich might result
if Bormwer defaults unds this Note,
4. MANNER OF PAYMENT
(A) Tlane
Bartower shaD pay all autstanding principal and accr.uedinterest to Lader upon reocipt of a notice by Londer requiring
inanadiate pa^ment in full, as provided in Paragraph6 èf this No1u.
(B) Place
Payment shall be made at 501 LLS, mghway (L-W CDPS), Bridgewaar, NJ 88897 or at such othe place as Emdcr may
designntois writing by notice goBarrower,
(C) unsitasian of Dabnity
Barrower shpH have no personal Hahility for payment of this Nole. Leader aball enIbrce the debt only through sale of the
Property covered by the Security Instrumem ("Property"). If the Note in assignedto the Seetetary. the Bornmer shall not be
liable for any difference between the momlage insurancebenefits paid to Lender and the outstandng indebtedness,including
accrued interest, owed by Bocrower at ghetime of the assipunent.
St BORROWER'S RIGHT To PREFAY
A Borrower has the right to ppy the debt evidenced by this Note, in whole or in part, without chargeor pellalty. Any amount
of debt prepaid will first be applied 10reducethe princips1balance of the SecondNote describsd in Paragraph lo of this Note
modthen to reduce thetrincipal balanceof Ihis Nota.
AD psepnyrncntsof the principal Inlance shall be applied by lander es foHows:
$[g, to that pwtion of the principal balencerepresenting aggregatepaymentsfor martggageinsurancepremiung
to that portion of the principal behece representing aggregatepaystents for settlelag fees;
jg),9,11ç[,
Bin], to that portim of the principal balancerepresenting occruedlaterest due under the None;and
Fourth, to the rernaining porgionaf the principal balance.
Prepayment amounts will met be made availgble to Barrower and prepaymcats wiH not increase the announgEvailable 10
somme for lan Muances
6, IMMEDIATE PAYMENT IN FU11
(A) Death or Sale
Leader may requite immediate paymentin full of all mir«r=Iing principal andaecrued interest if
(1) A Bonuwer dies and the Property is not the principal residenceof st 1castone surviving Borrower, or
(li} All of a Borrower% titic in the Property (or his or her beneficial interest in a trust owning all or part of the
Property) is sold or otherwise transfeme and no other Borrower retains (a) title to the Property irr fee simple,
(b) a leaschold under a kase hr not less than 99 years which is stewable ar a teasehaving a remaining·period
of rootless than 50 ycers beyond the dine of the 100th birthday of itic youngest Borrower, or tc) regainsa life
estatein &c ]¾qerly (or regainsa beneficial interest in a trust with such an intercsl in the Property).
(B) Other Gremeds
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Leader may require immediate payment i full of all outstanding principal and acemed interest, upon spproval by an
authorizedrepresentativeof the Secredwy..i
(i) The Property ceasesto be the principal residenceof a Borrower Ibr rensensother than death and the Property is
nol.the principd residenceof at Leastone other Borrower:
(ii) For.a period of longer than twelve (12) consecutivemonths, a Bonower faila to physically occupy the PrÆcrty
becauseof physical or mental illness and the Property is not Be principal residenceof at 1castone other Barrower;
or
(iii) An obligation of the Borrower under rhe Sewrity InsdromentIs not perRaned .
(C) Payment of Costs and Expenses
If 1Ander has reqýed imumliate payment in full, as descrand above, ghodebt enforced Ehroughsals of the Property may
include cosis end expenses,including reasesshle and.customarystE0rney's fets associatedwith enthreementof this Note to
the extentIot prohibiged by applicable law. Such feesa.ndasts shpH bear interestfrorn the date of disbursementat the same
rate as the principal of daisNote.
(D) Tnuts
Conveyanceof s Derrower's intescstin 1beProperty m a inst whichn1ects the.requiremeals of ÙcSecrclary, or conveyance
of a Irust's interest in the Paperty to a Borrower, shall moi he considered a conveyance for purpondsof thle Paragaph. A
trust shall not be consideredan occupantor be considered as having a principal residencefor purposesof this Panypaph.
7. WAIVERS
"Presentmat"
Borrower waives the rights of presentment and notice of dishenor. means the right to require I.cader to
demand payment ofamounts due. "Notice of dishonor" means&e right to regime Lender to givo notice in a1herpersonsthm
amounts due havenot been paid.
L GIVING OF NGFICES
Unilessapplicable law requires a dif1erent method, any notice that must be given to Barrower under this Note will be given by
ddivering it or by mailing it by first class rnail to Berrower at the Paperty address above or at a efferent address if
Borrower h s given Lender e oolice of Borrowers difArent address.
Any notice that nasst be given to Leader under this Note will be given by first class neit to I ender at the addressstatedin
Paragaph 4(B) or at a dillbrent addressif Borrower is given a notice orthat dificrent address,
9. OBLEAT.NS OF PERSONS UNDER THIS NOTE
If more than one perwn signs this Note, cach person is fully obligated to keep all of the promises made in thirr Note. Lender
rnay enforce its rights under thisNme only through saleof the Property.
10. RELATIONSEP TO SECOND NOTE
{A) Second Note
Because Borrower will be trquired to repay arnounis which the Scactory may make to or on behalf of Borrower pursuant to
Section 255(iX IXA) of the Ealional Housing Aci and the 1Aan AgecnmL Ibe Secretary has required Bormwer to gram a
SecondNote to the Secretary.
(B) Relattemship of Secretary Fmynnents10this Note
Paymentsmade by the Secretary shall not be iricluded in the debt doc under this Nois unicssi
(i) Thia Neie is assignedto the Secretary; or
(ii) The Secretary ecceptsreimbursenmas by the Lander f r all payments reade by the Secretry.
If the circInslances described in (i) or (ii) eccer, then all payments made by the Secretary, including inierest on the
payments.shall be included in the debt.
(C) Effect an Barrower
Where there is no assignmemer reimbursemeruas described in (BXi) or (ii) and the Secredæ.ty makes paymentsto Borrower,
then Borrower shalinet:
1b11ef all
(i) Be required to pay emetms owed under this Nege until the Secretary has mquired payment in
outstanding principal and accrued interent under the SecondNote held by the Secre:my,notwighstandug anyibing to
the cStrary in Paragmph6 of this Nets; or
{ii) Be obligated to pay interest or sharedappreciation under this Note at any Elme,whether accrued bolbre or afbrr
the payments by the Secretary, nod whethct or not accrued interest has been included in the principal balanceof this
Note.nolwighsteading anything to the contrary in Paragraph2 of this Note or any Allonge to this Note.
BY S$NIND BEl©W, Barrower acceptsand agreesto tbs terms and covenams.containedin thisNak
Aristedes Code Mary F Costs
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" "
ALLONGE
Loan Number:
BORROWER(S): Aristedes Costa
Mary F Costa
ADDRESS: 3Cloverbrook Rd
Valhalia,NY10!i95
AMOUNT $938,250.00
Dated: 04/20m9
pre e me merer
Wilhout Recomes
Ms4 Heae Lamme,
a DMelanetMatLh Bank, N.A.
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IIIIIll Illil IIIIIHll
$491380371MTG1*
Control Number Instrument Type
491380371 MTG
WESTCHESTER COUNTY RECORDING AND ENDORSEMENT PAGE
. (THIS PAGE PORMS PART OF THE INSTRUMENT)
*** ***
DO NOT REMOVE
SEAL
THE FOLIDWING INSTRUMENT WAS ENDORSED FOR THE RECORD As FOLLOWS:
TYPE OF INSTRUMENT: MTG - MORTGAGE
FEE PAGES: 13 TOTAL PAGES: 13
RECORDING FEES MORTGAGE TAXES
STATUTORY CHARGE $21.00 MORTGAGE DATE 4/29/2009
RECORDING CHARGE $6500 MORTGAGE AMOUNT $938,250.00
RECORD MGT. FUND $19.00 EXEMPT Yes
RP 5217 30.00
TP-584 $0.00 COUNTY TAX $0.00
CROSS REFERENCE $0.00
Y0NKERS TAX $0.00
MISCELLANEOUS $100
BADDITl0NAL
TOTAL FEES PAID $110.00
MTA 30.00
SPECIAL $0.00
TRANSFER TAXES
CONSIDERATION $0.00 TOTAL PAID $6.00
TAX PAID $0.00 SERIAL NUMBER: DA04053
TRANSFER TAX # DWELLING: 1-2 FamUy
RECORDING DATE: 5/26/2009
THE PROPERTY IS SITUATED IN
THE·
TIME: 12:27:00 WES CHESTER COUNTY, NEW YORK IN
TOWNOF MT.PLEASANT
WITNESS MY HAND AND OFFICIAL SEAL
Record & Retum to:
TIMOTHY C. IDONI
WESTCHESTER COUNTY CLERK METLIFE HOME LOANS
A DIVISION OF METLIFE BANK N A
PO BOX 8157
EDMOND, OK 73083-8157
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· REVERSE MORTGAGE
(HOME EQUITY CONVERSION)
Record and Retum to:
MetLife Home Loans, a Divisien of MetLife Bank, N.A.
P.O. Box 8157
Edmond, OK 730834157
FHA Case Number:
State of New York FDED VERSE MORTGAGE
THIS MORTGAGE ("Security Instrument") is given on April
29, 2009. The mortgagor is Aristedes Costa and Mary
F Costa, His Wife, whose address is 3 eek Rd, VALHALLA, NY 19595 ("Borrower") This Security
Instrument is given to MetLife Home Loann, a Division of Met11te Bank, N.A., which is eqpmized and existing
under the laws of the State of the United States of America, and whose address is 501 U.S. Highway (1-W COPS),
Bridgewater, NJ 08807 ("Lender"). Borrower has agreed to upay to Lender amounts which Leader is obligated to
advance, including future advances, under the terms of a Home Equity Conymion Loan Agreement dated the sante
date as this Security Instrument ("Loan Agreement'). The agreement to repay is evidenced by Borrowers Note dated
the same date as this Security Instrument ("Note"). This Security Instrument secures to 1£ndec (a) thie repayment of
th e debt evidenced by the Note, including all future advances, with interest, and all renewels, extensions and
odifications of the Note, up to a maximum principal amount of Nine Hundred Thirty-EIght Thousand Two
Hundred Fifty and 00/100 DeBars (U.S.$938,2fiB.OS); (b) the payment of all other sums, with interest, advanced
under Paragraph 5 to protect the security of this Security Instrument or otherwise due under the terms ofthis Searity
Instrument; and (c) the performance of Borrowers covenants and agreements under this Security Instrument and the
Note. The full debt, including all amounts described in (a), (b), and (c) above, if not paid earlier, is due pod payable on
September 22, 2081. For this purpose,.Borrower does hereby mortgage, grant and convey to Lender, with power of
sale, the following described property located in Westchester County, New York, which has the address of:
3 Cloverbrook Rd, VALHALLA, NY, 16595, and is described more fully on Exhibit A attached to and hereby
. incorporated into this Mottgage ("Property Address"). . . .
TOGETHER WITH a)I the improvements now or hereafter erected on the property, and all easements, rights,
apportenances, and fixtures now or hereafter a part of the property. All replacerhents and additions shall also be
*Property."
covered by this Security Instrument All of the foregoing is referred to in this Security Instrumentes the
-
BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
mortgage, grant and convey the Pmperty and that the Property is unencumbed. Borrower warrants and will defend
generally the title to the Property against all claims and demands, subject to any encumbrances of record.
CREDIT LINE MORTGAGE
This Security Instrument secures the debt described in the Seceity Instrument, Note and Eoan Agreement and
contemplates a series of advances which will be advanced from time to time from and after the date of this Security
Instmment not to exceed in the aggregate at any one time the maximum principal amount stated in the Security
Instrument, the Note and the Agrednent.
TES SECUR>f Y INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitute a unifortn security instrutnent covering real property.
New York r Mortgage- Fixed Rate
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UNIICRM CDVENANTS. Borrower and Lender covenant and agree as follows:
1. Fayment of Principal and Interest. Barrower shall pay when due the principal of and interest an, the debt
evidenced by the Note.
2. Payment of Property Charges. Borrower shall pay all property charges consisdug of taxes, ground rents, flood
and hazard insurance premiums, and special assessments in a titnely manner, and shall provide evidence of payment to
Leader, unless Lender pays property charges by withholding funds from monthly payments due to the Barrower or by
charging such payments to a line of credit as provided for in the Iman Agreement.
3. Fire, Flood and Other Hazard In.surance. Borrower shall insure all improvements on the Property, whether now
in existence or subsequently erected, against any lia2ards, casualties, and contingencies, including fire. This insurance
shall be maintained in the amounts, to the extent and for the periods required by T.znder a the Secretary of Housing
and Urban Development ("Secretary"). Barrower shall also insure all improvements on the Property, whether now in
existmee or subsequently erected, against loss by floods to the extent required by the Secretary. All insurance shall be
carried with companies approved by L ender. The insurance policies and any renewals shall be held by Lender and
shall include loss payable clauses in favor of, and in a form acceptable to, Ionder.
in the event of loss, Borrower shall give Iander immediate notice by mail. Leader may make proof ofloss if not made
promptly by Borrower. Each insurance company concerned is bereby authorized and directed to make payment for
.such loss to Ionder, instead of to Borrower and Lender jomily. Insurance proceeds shall be applied to astoration or
repair of the damaged Property,. if the restoration or repair
is economically feasibic and landers security is not
lessened. If the restoration or repair is pot economically or feasible
IAnders security would be lessened, the insurance
proceeds shall be applied first to the reduction of any indebtedness under a Second Note and Second Security
Instrument held by the Secretary on the Property and then to the reduction of the indebtedness under the Note and this
Security Instrument. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness
under the Note and this Security Instrument shall be paid to the entity 1cgally entitled therete.
In the event of foreclosure of this Security Instrument or other transfer of title to the Pmpetty that extinguishes the
indebtedness, all right, title and intemst of Borrower in and toinsumnce policies in force shall pass to the purchaser.
4. Ocespancy, Preservation, Maintenance and Protection of tlie Property; Borrower's
Application; Iman
Leaseheids. Berrows shall occupy, establish, and use the Property res.idence after the
as Borrowers principal
execution of this Security Instrument and Barrower (or at least one Bor ower, if initially more than one person are
Barrowers) shall continue to occupy the Property as Borrowers principal residence for the term of the Security
residence"
Instrument. "Principal shall have the same meaning asin the Loan Agreement.
Barrower waste or destroy, damage or substantially
shall not commit change the Property or allow the Property to
deteriorate, reasonable and todt excepteda
wear Borrower shall also be in default if Borrower, during the loan
application pmcess, gave materially false or inaccurate information or statements to lander (or Biled to provide I.ender
with any material in fannation) in connection with the loan evidenced by the Note, including, but not limited to,
representations concerning Borrowers occupancy of the Property as a principal residence. If this Security Instrumemt is
on a leaschold, Borrower shall comply with the provisions of the leases If Borrower acquires fee title to the Property,
the leasehold and fee title shall not be merged unless Leader agrees to the merger in writing.
5. Charges to Borrower and Protection of Leadet's Rights in the Property. Borrower shall pay al) governmental
or municipal charges, fines and impositions that are not included in Paragraph 2. Barrower shall pay these obligations
on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in
the Property, ppon Ionder's request Borrower shall promptly furnish to Lenda receipts evidacing these payments.
Borrower shall promptly discharge any lien which has priority over this Security Instrument in the mmmer provided in
New York P Mortgage.-FizedRate
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Paragraph 12(c).
If Borrower or the propetty charges required by Psagraph 2, or fails to perfonn any other
fails to make these payments
covenants and agreements in this Security Instrument,
comained or there is a legal proceeding that may significantly
affect Lenders rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or
regulations), then Lander may do and pay whatever is necessary to protect the value of the Property and landers rights
in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2.
To protect security in the Property, Lender shall advance and charge to Borrower
Lenders all arnounts due to the
Secretary for the Mortgage Insuratice Premium ("MIP") as defined in the Loan Agreement as well as all sums due to
the loan servicer for activities ("Servicing Fee") as defmed in the Loan Agnanent. Any amounts disbursed
servicing
by Leader under this Paragraph shall become an additional debt of Borrower as p ovided for in the IAan Agreement
and shall be secured by this Security Instrument,
6. Inspection. or its agent may enter on, .inspect or make sppraisals of the Property in a reasonable manner and
Iander
at reasonable that I.cader shall give theBorrower
times provided notice prior to any inspection or appraisal specifying a
purpose for the inspection or appraisal which must be related to Iander's interest in the Property. If the Property is
vacant or abandoned or the loan is in default, Iander may take reasonable action to protect and preserve such vacant or
abandoned Property without notice to the Borrower.
7. Condemnation. of any award or claim for damages, direct or consequential,
The proceeds in connection with any
condemnation, or other taking of any part of the Property, or for conveyance in place of con demnation shall be paid to
I.ender.. The proceeds shall be applied first to the reduction of any indebtedness under the Second Note and Second
reduction of the indebtedness under the Note
Security Instrument held by the Secretary on the Property, and then to the
and this Security Instrument. Any excess proceeds over an amount required to pay all outstanding indebtedness under
the Note and this Security Instrurnent shall be paid to the entity legally entitled thereto.
8. Fees. Lender may collect rees and charges authorized by the Sewetary.
9. Grounds for Acceleration ef Debt.
Due and Payable. lander may require immediate payment in full of all sums secured by this Security Instrument
(a)
if:
dies and the Property is not the principal residence of at least one surviving Barrower; or
(i) A Borrower
(ii) All of a Borrowers title in the Property (or his or her beneficial interest in a trust owning all or part of the
Property) is sold or otherwise transferred and no othe Bormwer retains (a) title to tiie Property in fee
single, (b) a leasehold under a lease for not less than 99 years which is anewable or a lease having a
period of not less than 50 years beyond the date of the 100th birthday of the youngest Borrower,
remaining
or (4) a life estate in the Property (or retains a beneficial interest in a trust with such an interest in the
Property).
(b) Due and Payable with
Sceretary Approval.. Lender may require immediate payment in full ofall sums secured
by this Security Instrument, upon approval by an authorized representative of the Secretary, if:
(i) The Property ceases to be thes principal residence of a Bormwer for reasons other than death and the
Property is not the principal nsidence ofat least one other Barrower; or
(ii) For a period of longer than twelve (12) consecutive months, a Bntrower fails to physically occupy the
because of physical or mental illness and the Pmperty is not the principal maidence of at least one
Prnpaty
other Borrows; or
(iii) An obligation of the Bonewer under this Security Instrument is not performed.
1" Rate
New York Mortgage-&cd
Pasc3
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(c) Natice to Leader. Borrower shall notify Lender whenever any of the events listed in subparagraphs Paragraph
9(a)(ii) and (b) occur.
(4) Notice to Secretary and Borrower. lander shall notify the Secretary and Borrower whenever the loan becomes
due and payable under Paragraph9(a)(ii) and (b), Leader shall not have the right to commence foreclosure until
Borrower has had thirty (30) days after notice to either:
(i) Correct the matter which resuhed in the Security InstrumeIt coming due and payable; or
(ii) Pay the balance in full; or
(iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply the itet proceeds of
the sale toward the balance; or .
(iv) Provide the 12nder with a deed in lieu offoreclosure.
(e) 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 9. A trust shall not be considaed an occupant or be considered as having a principat
residence for purposes of this Paragraph 9.
(1) Mortgage Not Insured. agrees that should this Security Instrument and the Note not be eligible for
Borrower
insurance Housing Act within eight (8) months from the date hereof, lander may, at its option3
under the National
require immediate payment in full of all sums secured by this Security Instrument. A written statement of any
authorized agent of the Secretary dated subsequent to eight (8) months from the date hereof, declining to insure this
Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the
foregoing, this option may not be exercised by Lender when the unavailability of msurance is solely due to Iander's
failure to remit a mortgage insurance premium to the Secretary.
10. No Deficiency Judgments. Borrower shall have no personal liability for payment of the debt secured by this
Security Instrument. Lender may enforce the debt only through sale of the Property. Lender shall not be permitted to
obtain a deficiency judgment against Borrower if the Security Instrument is foreclosed. If this Security Instrument is
assigned to the Secretary upon demand by the Secretary, Berrower shall not be liable for any difference between the
mortgage insurance benefits paid to Lender and the outstanding indebtedness, including acemed interest, owed by
Borrower at the time of the assignment
IL Reinstatement. Borrower has a right to be reinstated if Iander has required immediate payment in full. This right
applies even after foreclosure proceedings are instituted. To reinstate this Security Instrument, Borrower shall correct
the condition which resulted in the requirement for immediate payment in full. Foreclosure costs and reasonable and
attorneys' shall be added to the
customary fees and expenses pmperly associated with a foreclosure proceeding
principal balance. Upon reinstatement by Borrower, this Security Instrument and die obligations that it seemes shall
remain in effect as if Lender had not required immediate payment in full. However, Leader is not required to permit
reinstatement ïf(i)
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FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF WESTCHESTER MORTGAGE ASSETS MANAGEMENT, LLC, CERTIFICATE OF MERIT PlaintilT, INDEX NO. vs. DEBRA A. CAREY, AS HEIR AND DISTRIBUTEE OF THE ESTATE OF ARISTEDES COSTA; JUDEE M. CIRILLO A/K/A JUDEE M. COSTA, AS HEIR AND DISTRIBUTEE OF THE ESTATE OF ARISTEDES COSTA; HEIRS AND DISTRIBUTEES OF THE ESTATE OF ARISTEDES COSTA; SECRETARY OF HOUSING AND URBAN DEVELOPMENT; NEW YORK STATE DEPARTMENT OF TAXATION AND FINANCE; UNITED STATES OF AMERICA, #1" #12," "JOHN DOE through "JOHN DOE the last twelve names being fictitious and unknown to plaintiff, the persons or parties intended being the tenants, occupanta, persons or corporations, if any, having or claiming an interest in or lien upon the premises, described in the complaint, Defendant(s). 1. I am an duly licensed to practice in the state of New York and am affiliated attorney with the law firm of Robertson, Anschutz, Schneid, Crane & Partners, PLLC, the attorneys for the above-named plaintiff. 2. Hanny Bailey, a Contract Management Coordinator of plaintiff or plaintiffs servicer, confirmed that she personally reviewed plaintiffs documents and records relating to this case for factual accuracy. 3. Based upon my review of the communicadon with plaintiffs representative, as well. as upon my own inspection of the.documents and other diligent inquiry, I certify that to the best of my knowledge, information and belief, there exists a reasonable basis for lilllIllAllIIIIIIIIlllMIIII IIIIIIIIllNIIIIIIIIIIIIIIHIllIII IIIllIIIIIIlillAllIll 23-130598 - NiA 1 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 the commencement of a mortgage foreclosure action and that plaintiff or its nominee is entitled to enfome its rights under the loan documents in accordance with applicable law. 4. All of the relevant documents, all of which have been reviewed by me, are attached to this Certificate of Merit. Dated: April 8, 2024 Westbury, New York BY: { ] S . BORTSKIN, ESQ. [ ] ANTHONY CELLUCCI, ESQ. [ ] SCOTT R. WEISS, ESQ. [X] KELLY R. FABER, ESQ. 23-130598 - NiA 2 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 FIXED RATE NOTE - CLOSED END (HOME EQUITY CONVERSION) STATE OF NY April 29 2009 PROPERTY 3 rock Rd V A, NY 18595 Westchester COUNTY L DEFINr“lONS "Bomms mema esch personsigningat Ihe and of this Note. "Lend.er"meansMetLHe Rome Loam, a Divislum of MetUls "Secretary" Bank, N.A. and its succesars and assips. meansthe Secretaryof Housing and Urban Development or his ur hot authorizedrepresentatives. 2. BORROWRR+S PROM1SE TO PAY; INTEREST In resum Ibr amounts to be advancedby Lendst up to a maximum principal amountof NIne Handred TMrty-Eight Thousand he Huthdred FNty and 09/198 Detters ($938,2die.09),to or for the benefit of Barrower under the tenns of a Home Equity Conversion Lean Agreement dated AprG 29, 2899 ("laan Agreement"), Berewm pnuniscs to pay to the order of Iander a principal amount mual lo Ihe sum of all Loan Advances made under Ike I.oan Agreanent with interest- AD enounts advancesby lander, plus interes1, inot paid curlier, are due end payableon Sepduraher22, 208L laterest will be chargedon unpaid principal at the rate of Five and $Ii/I.90 percent (5.560%) per year until the full amount of principal has been paid. Accrued intmost shdi be added to the principM bahmovas a Loan Advance at. the ond or each month and shall Skewisc thereaser bear interest, 3, PROMISE m PAY SECURED Dorrowers promise to pay is securedby a mortgage, deedof trust or sitnilar secuDty instatment that is.detedthe sune date.as this Neln arid called the "Security instrument That Securky Iratrument protocle the lander inue losseswhich might result if Bormwer defaults unds this Note, 4. MANNER OF PAYMENT (A) Tlane Bartower shaD pay all autstanding principal and accr.uedinterest to Lader upon reocipt of a notice by Londer requiring inanadiate pa^ment in full, as provided in Paragraph6 èf this No1u. (B) Place Payment shall be made at 501 LLS, mghway (L-W CDPS), Bridgewaar, NJ 88897 or at such othe place as Emdcr may designntois writing by notice goBarrower, (C) unsitasian of Dabnity Barrower shpH have no personal Hahility for payment of this Nole. Leader aball enIbrce the debt only through sale of the Property covered by the Security Instrumem ("Property"). If the Note in assignedto the Seetetary. the Bornmer shall not be liable for any difference between the momlage insurancebenefits paid to Lender and the outstandng indebtedness,including accrued interest, owed by Bocrower at ghetime of the assipunent. St BORROWER'S RIGHT To PREFAY A Borrower has the right to ppy the debt evidenced by this Note, in whole or in part, without chargeor pellalty. Any amount of debt prepaid will first be applied 10reducethe princips1balance of the SecondNote describsd in Paragraph lo of this Note modthen to reduce thetrincipal balanceof Ihis Nota. AD psepnyrncntsof the principal Inlance shall be applied by lander es foHows: $[g, to that pwtion of the principal balencerepresenting aggregatepaymentsfor martggageinsurancepremiung to that portion of the principal behece representing aggregatepaystents for settlelag fees; jg),9,11ç[, Bin], to that portim of the principal balancerepresenting occruedlaterest due under the None;and Fourth, to the rernaining porgionaf the principal balance. Prepayment amounts will met be made availgble to Barrower and prepaymcats wiH not increase the announgEvailable 10 somme for lan Muances 6, IMMEDIATE PAYMENT IN FU11 (A) Death or Sale Leader may requite immediate paymentin full of all mir«r=Iing principal andaecrued interest if (1) A Bonuwer dies and the Property is not the principal residenceof st 1castone surviving Borrower, or (li} All of a Borrower% titic in the Property (or his or her beneficial interest in a trust owning all or part of the Property) is sold or otherwise transfeme and no other Borrower retains (a) title to the Property irr fee simple, (b) a leaschold under a kase hr not less than 99 years which is stewable ar a teasehaving a remaining·period of rootless than 50 ycers beyond the dine of the 100th birthday of itic youngest Borrower, or tc) regainsa life estatein &c ]¾qerly (or regainsa beneficial interest in a trust with such an intercsl in the Property). (B) Other Gremeds 3 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 Leader may require immediate payment i full of all outstanding principal and acemed interest, upon spproval by an authorizedrepresentativeof the Secredwy..i (i) The Property ceasesto be the principal residenceof a Borrower Ibr rensensother than death and the Property is nol.the principd residenceof at Leastone other Borrower: (ii) For.a period of longer than twelve (12) consecutivemonths, a Bonower faila to physically occupy the PrÆcrty becauseof physical or mental illness and the Property is not Be principal residenceof at 1castone other Barrower; or (iii) An obligation of the Borrower under rhe Sewrity InsdromentIs not perRaned . (C) Payment of Costs and Expenses If 1Ander has reqýed imumliate payment in full, as descrand above, ghodebt enforced Ehroughsals of the Property may include cosis end expenses,including reasesshle and.customarystE0rney's fets associatedwith enthreementof this Note to the extentIot prohibiged by applicable law. Such feesa.ndasts shpH bear interestfrorn the date of disbursementat the same rate as the principal of daisNote. (D) Tnuts Conveyanceof s Derrower's intescstin 1beProperty m a inst whichn1ects the.requiremeals of ÙcSecrclary, or conveyance of a Irust's interest in the Paperty to a Borrower, shall moi he considered a conveyance for purpondsof thle Paragaph. A trust shall not be consideredan occupantor be considered as having a principal residencefor purposesof this Panypaph. 7. WAIVERS "Presentmat" Borrower waives the rights of presentment and notice of dishenor. means the right to require I.cader to demand payment ofamounts due. "Notice of dishonor" means&e right to regime Lender to givo notice in a1herpersonsthm amounts due havenot been paid. L GIVING OF NGFICES Unilessapplicable law requires a dif1erent method, any notice that must be given to Barrower under this Note will be given by ddivering it or by mailing it by first class rnail to Berrower at the Paperty address above or at a efferent address if Borrower h s given Lender e oolice of Borrowers difArent address. Any notice that nasst be given to Leader under this Note will be given by first class neit to I ender at the addressstatedin Paragaph 4(B) or at a dillbrent addressif Borrower is given a notice orthat dificrent address, 9. OBLEAT.NS OF PERSONS UNDER THIS NOTE If more than one perwn signs this Note, cach person is fully obligated to keep all of the promises made in thirr Note. Lender rnay enforce its rights under thisNme only through saleof the Property. 10. RELATIONSEP TO SECOND NOTE {A) Second Note Because Borrower will be trquired to repay arnounis which the Scactory may make to or on behalf of Borrower pursuant to Section 255(iX IXA) of the Ealional Housing Aci and the 1Aan AgecnmL Ibe Secretary has required Bormwer to gram a SecondNote to the Secretary. (B) Relattemship of Secretary Fmynnents10this Note Paymentsmade by the Secretary shall not be iricluded in the debt doc under this Nois unicssi (i) Thia Neie is assignedto the Secretary; or (ii) The Secretary ecceptsreimbursenmas by the Lander f r all payments reade by the Secretry. If the circInslances described in (i) or (ii) eccer, then all payments made by the Secretary, including inierest on the payments.shall be included in the debt. (C) Effect an Barrower Where there is no assignmemer reimbursemeruas described in (BXi) or (ii) and the Secredæ.ty makes paymentsto Borrower, then Borrower shalinet: 1b11ef all (i) Be required to pay emetms owed under this Nege until the Secretary has mquired payment in outstanding principal and accrued interent under the SecondNote held by the Secre:my,notwighstandug anyibing to the cStrary in Paragmph6 of this Nets; or {ii) Be obligated to pay interest or sharedappreciation under this Note at any Elme,whether accrued bolbre or afbrr the payments by the Secretary, nod whethct or not accrued interest has been included in the principal balanceof this Note.nolwighsteading anything to the contrary in Paragraph2 of this Note or any Allonge to this Note. BY S$NIND BEl©W, Barrower acceptsand agreesto tbs terms and covenams.containedin thisNak Aristedes Code Mary F Costs 4 of 39 FILED: WESTCHESTER d COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 " " ALLONGE Loan Number: BORROWER(S): Aristedes Costa Mary F Costa ADDRESS: 3Cloverbrook Rd Valhalia,NY10!i95 AMOUNT $938,250.00 Dated: 04/20m9 pre e me merer Wilhout Recomes Ms4 Heae Lamme, a DMelanetMatLh Bank, N.A. 5 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 IIIIIll Illil IIIIIHll $491380371MTG1* Control Number Instrument Type 491380371 MTG WESTCHESTER COUNTY RECORDING AND ENDORSEMENT PAGE . (THIS PAGE PORMS PART OF THE INSTRUMENT) *** *** DO NOT REMOVE SEAL THE FOLIDWING INSTRUMENT WAS ENDORSED FOR THE RECORD As FOLLOWS: TYPE OF INSTRUMENT: MTG - MORTGAGE FEE PAGES: 13 TOTAL PAGES: 13 RECORDING FEES MORTGAGE TAXES STATUTORY CHARGE $21.00 MORTGAGE DATE 4/29/2009 RECORDING CHARGE $6500 MORTGAGE AMOUNT $938,250.00 RECORD MGT. FUND $19.00 EXEMPT Yes RP 5217 30.00 TP-584 $0.00 COUNTY TAX $0.00 CROSS REFERENCE $0.00 Y0NKERS TAX $0.00 MISCELLANEOUS $100 BADDITl0NAL TOTAL FEES PAID $110.00 MTA 30.00 SPECIAL $0.00 TRANSFER TAXES CONSIDERATION $0.00 TOTAL PAID $6.00 TAX PAID $0.00 SERIAL NUMBER: DA04053 TRANSFER TAX # DWELLING: 1-2 FamUy RECORDING DATE: 5/26/2009 THE PROPERTY IS SITUATED IN THE· TIME: 12:27:00 WES CHESTER COUNTY, NEW YORK IN TOWNOF MT.PLEASANT WITNESS MY HAND AND OFFICIAL SEAL Record & Retum to: TIMOTHY C. IDONI WESTCHESTER COUNTY CLERK METLIFE HOME LOANS A DIVISION OF METLIFE BANK N A PO BOX 8157 EDMOND, OK 73083-8157 6 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 · REVERSE MORTGAGE (HOME EQUITY CONVERSION) Record and Retum to: MetLife Home Loans, a Divisien of MetLife Bank, N.A. P.O. Box 8157 Edmond, OK 730834157 FHA Case Number: State of New York FDED VERSE MORTGAGE THIS MORTGAGE ("Security Instrument") is given on April 29, 2009. The mortgagor is Aristedes Costa and Mary F Costa, His Wife, whose address is 3 eek Rd, VALHALLA, NY 19595 ("Borrower") This Security Instrument is given to MetLife Home Loann, a Division of Met11te Bank, N.A., which is eqpmized and existing under the laws of the State of the United States of America, and whose address is 501 U.S. Highway (1-W COPS), Bridgewater, NJ 08807 ("Lender"). Borrower has agreed to upay to Lender amounts which Leader is obligated to advance, including future advances, under the terms of a Home Equity Conymion Loan Agreement dated the sante date as this Security Instrument ("Loan Agreement'). The agreement to repay is evidenced by Borrowers Note dated the same date as this Security Instrument ("Note"). This Security Instrument secures to 1£ndec (a) thie repayment of th e debt evidenced by the Note, including all future advances, with interest, and all renewels, extensions and odifications of the Note, up to a maximum principal amount of Nine Hundred Thirty-EIght Thousand Two Hundred Fifty and 00/100 DeBars (U.S.$938,2fiB.OS); (b) the payment of all other sums, with interest, advanced under Paragraph 5 to protect the security of this Security Instrument or otherwise due under the terms ofthis Searity Instrument; and (c) the performance of Borrowers covenants and agreements under this Security Instrument and the Note. The full debt, including all amounts described in (a), (b), and (c) above, if not paid earlier, is due pod payable on September 22, 2081. For this purpose,.Borrower does hereby mortgage, grant and convey to Lender, with power of sale, the following described property located in Westchester County, New York, which has the address of: 3 Cloverbrook Rd, VALHALLA, NY, 16595, and is described more fully on Exhibit A attached to and hereby . incorporated into this Mottgage ("Property Address"). . . . TOGETHER WITH a)I the improvements now or hereafter erected on the property, and all easements, rights, apportenances, and fixtures now or hereafter a part of the property. All replacerhents and additions shall also be *Property." covered by this Security Instrument All of the foregoing is referred to in this Security Instrumentes the - BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Pmperty and that the Property is unencumbed. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. CREDIT LINE MORTGAGE This Security Instrument secures the debt described in the Seceity Instrument, Note and Eoan Agreement and contemplates a series of advances which will be advanced from time to time from and after the date of this Security Instmment not to exceed in the aggregate at any one time the maximum principal amount stated in the Security Instrument, the Note and the Agrednent. TES SECUR>f Y INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a unifortn security instrutnent covering real property. New York r Mortgage- Fixed Rate Page ) 7 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 UNIICRM CDVENANTS. Borrower and Lender covenant and agree as follows: 1. Fayment of Principal and Interest. Barrower shall pay when due the principal of and interest an, the debt evidenced by the Note. 2. Payment of Property Charges. Borrower shall pay all property charges consisdug of taxes, ground rents, flood and hazard insurance premiums, and special assessments in a titnely manner, and shall provide evidence of payment to Leader, unless Lender pays property charges by withholding funds from monthly payments due to the Barrower or by charging such payments to a line of credit as provided for in the Iman Agreement. 3. Fire, Flood and Other Hazard In.surance. Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any lia2ards, casualties, and contingencies, including fire. This insurance shall be maintained in the amounts, to the extent and for the periods required by T.znder a the Secretary of Housing and Urban Development ("Secretary"). Barrower shall also insure all improvements on the Property, whether now in existmee or subsequently erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried with companies approved by L ender. The insurance policies and any renewals shall be held by Lender and shall include loss payable clauses in favor of, and in a form acceptable to, Ionder. in the event of loss, Borrower shall give Iander immediate notice by mail. Leader may make proof ofloss if not made promptly by Borrower. Each insurance company concerned is bereby authorized and directed to make payment for .such loss to Ionder, instead of to Borrower and Lender jomily. Insurance proceeds shall be applied to astoration or repair of the damaged Property,. if the restoration or repair is economically feasibic and landers security is not lessened. If the restoration or repair is pot economically or feasible IAnders security would be lessened, the insurance proceeds shall be applied first to the reduction of any indebtedness under a Second Note and Second Security Instrument held by the Secretary on the Property and then to the reduction of the indebtedness under the Note and this Security Instrument. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity 1cgally entitled therete. In the event of foreclosure of this Security Instrument or other transfer of title to the Pmpetty that extinguishes the indebtedness, all right, title and intemst of Borrower in and toinsumnce policies in force shall pass to the purchaser. 4. Ocespancy, Preservation, Maintenance and Protection of tlie Property; Borrower's Application; Iman Leaseheids. Berrows shall occupy, establish, and use the Property res.idence after the as Borrowers principal execution of this Security Instrument and Barrower (or at least one Bor ower, if initially more than one person are Barrowers) shall continue to occupy the Property as Borrowers principal residence for the term of the Security residence" Instrument. "Principal shall have the same meaning asin the Loan Agreement. Barrower waste or destroy, damage or substantially shall not commit change the Property or allow the Property to deteriorate, reasonable and todt excepteda wear Borrower shall also be in default if Borrower, during the loan application pmcess, gave materially false or inaccurate information or statements to lander (or Biled to provide I.ender with any material in fannation) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrowers occupancy of the Property as a principal residence. If this Security Instrumemt is on a leaschold, Borrower shall comply with the provisions of the leases If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Leader agrees to the merger in writing. 5. Charges to Borrower and Protection of Leadet's Rights in the Property. Borrower shall pay al) governmental or municipal charges, fines and impositions that are not included in Paragraph 2. Barrower shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, ppon Ionder's request Borrower shall promptly furnish to Lenda receipts evidacing these payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument in the mmmer provided in New York P Mortgage.-FizedRate Page2 8 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 Paragraph 12(c). If Borrower or the propetty charges required by Psagraph 2, or fails to perfonn any other fails to make these payments covenants and agreements in this Security Instrument, comained or there is a legal proceeding that may significantly affect Lenders rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lander may do and pay whatever is necessary to protect the value of the Property and landers rights in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2. To protect security in the Property, Lender shall advance and charge to Borrower Lenders all arnounts due to the Secretary for the Mortgage Insuratice Premium ("MIP") as defined in the Loan Agreement as well as all sums due to the loan servicer for activities ("Servicing Fee") as defmed in the Loan Agnanent. Any amounts disbursed servicing by Leader under this Paragraph shall become an additional debt of Borrower as p ovided for in the IAan Agreement and shall be secured by this Security Instrument, 6. Inspection. or its agent may enter on, .inspect or make sppraisals of the Property in a reasonable manner and Iander at reasonable that I.cader shall give theBorrower times provided notice prior to any inspection or appraisal specifying a purpose for the inspection or appraisal which must be related to Iander's interest in the Property. If the Property is vacant or abandoned or the loan is in default, Iander may take reasonable action to protect and preserve such vacant or abandoned Property without notice to the Borrower. 7. Condemnation. of any award or claim for damages, direct or consequential, The proceeds in connection with any condemnation, or other taking of any part of the Property, or for conveyance in place of con demnation shall be paid to I.ender.. The proceeds shall be applied first to the reduction of any indebtedness under the Second Note and Second reduction of the indebtedness under the Note Security Instrument held by the Secretary on the Property, and then to the and this Security Instrument. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrurnent shall be paid to the entity legally entitled thereto. 8. Fees. Lender may collect rees and charges authorized by the Sewetary. 9. Grounds for Acceleration ef Debt. Due and Payable. lander may require immediate payment in full of all sums secured by this Security Instrument (a) if: dies and the Property is not the principal residence of at least one surviving Barrower; or (i) A Borrower (ii) All of a Borrowers title in the Property (or his or her beneficial interest in a trust owning all or part of the Property) is sold or otherwise transferred and no othe Bormwer retains (a) title to tiie Property in fee single, (b) a leasehold under a lease for not less than 99 years which is anewable or a lease having a period of not less than 50 years beyond the date of the 100th birthday of the youngest Borrower, remaining or (4) a life estate in the Property (or retains a beneficial interest in a trust with such an interest in the Property). (b) Due and Payable with Sceretary Approval.. Lender may require immediate payment in full ofall sums secured by this Security Instrument, upon approval by an authorized representative of the Secretary, if: (i) The Property ceases to be thes principal residence of a Bormwer for reasons other than death and the Property is not the principal nsidence ofat least one other Barrower; or (ii) For a period of longer than twelve (12) consecutive months, a Bntrower fails to physically occupy the because of physical or mental illness and the Pmperty is not the principal maidence of at least one Prnpaty other Borrows; or (iii) An obligation of the Bonewer under this Security Instrument is not performed. 1" Rate New York Mortgage-&cd Pasc3 9 of 39 FILED: WESTCHESTER COUNTY CLERK 04/08/2024 03:56 PM INDEX NO. 60010/2024 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 04/08/2024 (c) Natice to Leader. Borrower shall notify Lender whenever any of the events listed in subparagraphs Paragraph 9(a)(ii) and (b) occur. (4) Notice to Secretary and Borrower. lander shall notify the Secretary and Borrower whenever the loan becomes due and payable under Paragraph9(a)(ii) and (b), Leader shall not have the right to commence foreclosure until Borrower has had thirty (30) days after notice to either: (i) Correct the matter which resuhed in the Security InstrumeIt coming due and payable; or (ii) Pay the balance in full; or (iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply the itet proceeds of the sale toward the balance; or . (iv) Provide the 12nder with a deed in lieu offoreclosure. (e) 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 9. A trust shall not be considaed an occupant or be considered as having a principat residence for purposes of this Paragraph 9. (1) Mortgage Not Insured. agrees that should this Security Instrument and the Note not be eligible for Borrower insurance Housing Act within eight (8) months from the date hereof, lander may, at its option3 under the National require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to eight (8) months from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of msurance is solely due to Iander's failure to remit a mortgage insurance premium to the Secretary. 10. No Deficiency Judgments. Borrower shall have no personal liability for payment of the debt secured by this Security Instrument. Lender may enforce the debt only through sale of the Property. Lender shall not be permitted to obtain a deficiency judgment against Borrower if the Security Instrument is foreclosed. If this Security Instrument is assigned to the Secretary upon demand by the Secretary, Berrower shall not be liable for any difference between the mortgage insurance benefits paid to Lender and the outstanding indebtedness, including acemed interest, owed by Borrower at the time of the assignment IL Reinstatement. Borrower has a right to be reinstated if Iander has required immediate payment in full. This right applies even after foreclosure proceedings are instituted. To reinstate this Security Instrument, Borrower shall correct the condition which resulted in the requirement for immediate payment in full. Foreclosure costs and reasonable and attorneys' shall be added to the customary fees and expenses pmperly associated with a foreclosure proceeding principal balance. Upon reinstatement by Borrower, this Security Instrument and die obligations that it seemes shall remain in effect as if Lender had not required immediate payment in full. However, Leader is not required to permit reinstatement ïf(i)