Preview
FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024
Home Eqitity Line of Credit Agreement
(for use only in CT, FL, MA, ME, NH, NJ, NT, PA and RI)
1. What the Words Mean. (a) "You," "your", "yours", and the "Bank" mean b. Next, you add up all the daily balances for the billing period and divide the
Fleet National Bank, a Bank of America Company, its successors and assigns; (b) total by the number of days in the billing period. This gives you the average daily
"I," "me," "my," "us"
and "Borrower" mean each individual who signs this balance for my Account. (If any daily balance is a credit balance, you consider that
Agreement, and each such individual's heirs, executors and administrators; (c) day's balance to equal zero.)
"Account"
means the Account subject to this Agreement; and (d) "Agreement"
means this Home Equity Line of Credit Agreement (the "Agreement"). c. Then, you multiply the average daily balance times the daily periodic rate times
the number of days in the billing period. This gives you the finance charge on my
2. Credit Limit. My credit limit is $240, 600.00 . Account.
The amount of my unpaid borrowings, interest and other charges on my Account The daily periodic rate is calculated by dividing the annual percentage rate by 365.
will not exceed my credit limit. At your sole discretion, you may allow me to
exceed my credit limit. If you do, I will pay you the excess amount immediately
upon your request. My initial ANNUAL PERCENTAGE RATE is 5.490 % ( daily periodic
rate of 0.01504 %). It is based upon a Prime Rate of 6 .000 % and
3. Promise to Pay. I promise to pay you all amounts I borrow, plus finance
charges and other fees and charges under the terms of this Agreement. a margin of -0.510 percentage points (·0.510 %) which I have selected.
Except as limited by the maximum annual percentage rate, an increase in the Prime
4. Line of Credit. During the "Draw Period" I may obtain loan advances on my Rate as described above will result in a corresponding increase in my annual
Account in the following manner: (1) by using special checks; (2) by withdrawal or percentage rate, daily periodic rate, finance charge owed, and minimum monthly
transfer from the Account initiated through the use of a card that you have issued to payment.
me; or (3) by any other means that you make available. If I request card access to
my Account, this access may be denied at any time if my debit card is cancelled for . If any law is finally interpreted as limiting the finance charge or other charges
any reason or all of my Bank deposit accounts linked to my account are closed. collected or to be collected in connection with my Account, then: (i) any such
Card access may also be denied if my home equity Account is suspended or charge will be reduced by the amount necessary to reduce it to the permitted limit,
terminated as outlined in Sections 14, 15, and 16 of this Agreement. My Draw and (ii) any sums collected from me which exceed the permitted limit will be applied
Period starts on the day after my right to rescind this Agreement expires and to the amount of principal I then owe.
continues until the last day of the billing period ending during the 59th month after
7. Closing Costs. In addition to the finance charge which will be added to my
the month in which I sign this Agreement. Unless the Property securing the Account
Account each billing cycle, I will pay the following fees, including real estate
is m Connecticut, at your option, the Draw Period may be renewed for up to two
additional five year periods. If the Property securing the Account is m Connecticut, closing and security filing fees:
at your option, the Draw Period may be renewed for one additional period of a Points and Commitment.............................. $ 0.00
length you establish, but for not more than five years. You will notify me before the Document Preparation Fee .......................... $ 0.00
end of any Draw Period whether or not you will renew my Draw Period. After my
final Draw Period, I will pay the balance I owe over a fifteen year period Mortgage Filing Fee .................................. $ 0.00
("Repayment Period"). During any Draw Period, you do not have to make advances Title Examination & Certificate ................... $ O . 00
on the Account when my right to borrow has been suspended (see Section 14) or Lender's Title Insurance ............................. $ 0 , 00
terminated (see Section 15).
Property Evaluation Fee ............................. $ 0.00
You will stop making advances on the Account, or limit the amount you will lend, Mortgage Tax .......................................... $ 0.00
at the written request of any of us who signs this Agreement. After such request is
Documentary Stamp Tax.............................. $ 0.00
received, any request for a reinstatement of prior credit privileges must be in
Intangible Tax........................................... $ 0.00
writing and signed by all of us.
Attorney Fee (n/a NJ) / Closing Agent ............ $ 0.00
I will not use my Account to purchase the property securing the Account. Flood Determination................................... $ 0.00
5. Security. To secure payment of all sums I owe you under this Agreement, and Notary Fee .............................................. $ 0.00
any extension, renewal or modification of the Agreement, and to secure all charges Other $ 0.00
under the mortgage of the Property securing the Account, I am giving you a Other 0.00
$
mortgage ("Mortgage") on my real property located at:
Total Amount Due.................................... $ 0.00
136-11 BEACH CHANNEL DR QUEENS BELL HARBOUR,
NY 11694
(the "Property"). 8. Other Charges. Any charge listed below will be included in my minimum
payment due for that billing period during which the charge was posted to my
The Mortgage contains additional information. I agree to comply with all the terms Account. During a.Draw Period (but not Repayment Period), if I do not pay any
of the Mortgage and to reimburse you for any amounts you pay to protect the such charge (except the late charge) by the payment due date, such charge will be
Mortgage. The Mortgage will not secure any advances or other charges in excess of treated as a loan and included in my daily balance beginning on the first day of the
my credit limit. Collateral securing other loans with you may also secure the billing period starting after the payment due date.
Account. The Mortgage and the Agreement will remain in effect even though my
Account balance may be reduced to zero from time to time. (a) Annual Membership Fee. Each year during a Draw Period, I will pay
an annual membership fee of $50. If I am a Massachusetts customer and I
6. Annual Percentage Rate and Finance Charge. My annual percentage rate is cancel my Account during any year, I will receive a refund equal to two
the highest Prime Rate most recently published under the heading "Money Rates" in thirds of my annual fee paid for that year.
The Wall Street Journal, plus a margin. My annual percentage rate may change
once each month on the first day of each billing period. If the Prime Rate is no If you waive the fee in any year, you may still charge a fee in subsequent years.
longer published, you will choose a comparable independent index upon which to
base my rate. My maximum ANNUAL PERCENTAGE RATE, permitted by (b) Late Charge. I will pay a late charge as checked below:
law, is checked below:
CT, FL, NJ, PA, ME, and RI: If any payment is more than 10 days late, I will
ME, NJ, CT, RI, PA, NH: 21% pay a late chargeof $15.
FL, MA 18% MA: If any payment is more than 15 days late, I will pay a late charge
of $10 or 3% of the payment, whichever is less.
X NY: The greater of: (a) 15.9% or (b) five percentage points (5%) over
the annual percentage rate in effect when my Account was opened, but in NH: If any payment is more than 10 days late, I will pay a late charge
no case will it exceed 25% . equalto $10 or 5% of the payment, whichever is larger.
My annual percentage rate includes interest and no other costs.
Finance charges accrue on each advance from the date of the advance until payment X NY: If any paymentis more than 15 days late, I will pay a late chargeequalto 2%
is posted to my Account. You figure the finance charge on my Account as follows: of the payment.
a. You take the beginning balance of my Account each day, add any new loans,
and subtract payments, credits, adjustments, and unpaid finance charges. During the (c) Early Cancellation Fee. For ME, NJ, PA, and RI borrowers: If I ask you to
Draw Period (but not the Repayment Period) any charge listed in Section 8 (except close my Account within 12 months after it is opened I will pay you $250.
a late charge) that is assessed and not paid by the payment due date shown on the For CT, MA, FL, and NH borrowers: If I ask you to close my Account
monthly statement on which it is itemized, will be treated as an advance and within 24 months after it is opened I will pay you $250.
included in the daily balance calculation beginning on the first day of the billing
period that starts after that payment due date. This gives you the daily balance for
my Account. - CONTINUED ON THE REVERSE SIDE -
By signing below, I state I received a completed copy of the Agreement. I agree to the provisions on all pages of this Agreement. If I occupy the property as my principal
dwelling, I certify I have received two (2) copies of a Notice of Right to Cancel this transaction.
Execute r seal effectiv N)5/09/05
.. . .
Borrower:. Address: 136-11 BEACH CHANNEL DR BELL HARBOUR, NY
11694
Borrower: Address:
Received and accepted Title:
by the Bank By:
98317Rev. 09/2004 Page 1 of 3 Bank Copy
I
FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024
Home Equity Line of Credit Agreement
(for use only in CT, FL, MA, ME, NH, NJ, NY, PA and R1)
(d) Early Terminatian Third Party Cost Reimbursement. For NY borrowers: (c) my action or inaction adversely affects the Property or any right of yours in
When I opened my Account, I paid no closing cost to the Bank or to a third party. the Property, such as: my transferring title to the Property, selling the Property or
If I ask you to close my account within 36 months after it is opened I will be failing to maintain required insurance on the Property, failing to pay taxes on the
required to reimburse you $ 3, 584.00 representing a portion of the Property, some other action by me results in the filing of a lien that is or becomes
New York mortgage tax that you paid on my behalf. senior to yours, the Property is taken by eminent domain or foreclosure by a prior
(e) Release of Mortgage. When I pay off my Account, I will pay the actual cost lienholder;
of recording a Release of Mortgage, as required by the city, town, or county in
which the Property is located, at the time that the final payment on my account is (d) any of the following events adversely affects your rights in the Property: (1) a
collected. judgment is filed against me; (2) I commit waste or fail to maintain the Property; (3)
my illegal use of the Property subjects it to seizure; (4) I vacate the Property; (5)
9. Additional Charges. Any charge listed below will be treated as if it were a loan. except Accounts secured by Connecticut property, one of us dies (if the Account is
It will be included immediately in my daily balance and accrue interest from the secured by Connecticut property, the death of all of us who signed the Mortgage);
date offosting. or (6) a petition is filed by or against me under any bankruptcy or insolvency law.
(a) reriodic Property Evaluation Fee. At any time when I am eligible for an If I am one of your executive officers, you may terminate my Account if any
extension or renewal of my Draw Period, or when you have reduced my credit limit federal law dealing with credit extended to an executive officer requires that, as a
or suspended my right to borrow under Section 14 or terminated my Account under condition of the plan, the credit shall be due and payable on demand.
Section 15, you may obtain an updated evaluation of the Property to determine
whether to grant the extension or renewal, to reinstate borrowing privileges, or to 16. Events After Termination. Subject to applicable law and without notifying me,
permit repayment in installments. I agree to pay the actual cost of such evaluation, if you terminate the Account, you may do one or more of the following: (a)
up to a maximum amount of $500, immediately close my Account; (b) return without paying any outstanding checks
(b) Over Limit Fee. If you do not pay a check because it would cause me to drawn on my Account; (c) require me immediately to pay the entire outstanding
exceed my credit limit, I will be charged $20. balance of my Account; (d) require me to pay the outstanding balance of my
(c) Returned Check Fee. If a check or other instrument with which I make a Account as provided in Paragraph 10(b) ("Repayment Period"); (e) take any of my
payment on the Account is returned to you unpaid for any reason, I will be charged money in your possession to pay what I owe, to the extent permitted by law; or (f)
a returned check charge of $20 ($10 if I am a resident of MA). You will waive this subject to applicable foreclosure procedures, foreclose the Mortgage.
fee if my check is drawn on a Bank deposit account.
(d) Miscellaneous Fees. You may charge me additional fees for extra services 17. Collection Costs. If I fail to abide by any of this Agreement you may use any
such as providing research and copies of documents, other than in response to a remedy permitted by law. To the extent permitted by law, I will pay you all
billing error inquiry. reasonable collection costs, including reasonable attorney's fees. If the Property is
in Florida, I agree to pay, in the event of default, all costs and expenses incurred in
attorneys'
10. Payment. collection or foreclosure, including fees equal to ten percent (10%) of the
(a) Draw Period. During a Draw Period my minimum monthly payment will be principal sum or such attorneys'
larger amount as may be reasonable and just, and also all
the sum of: (1) the finance charge accrued during the billing period; (2) other costs, expenses and fees incurred in any appellate and bankruptcy
charges posted to the Account during the billing period; (3) any overdue payment; proceedings. If I am successful in any partial defense, set-off or counterclaim
. and (4) the amount of any advance in excess of my credit limit. Except for any against you, the court may withhold payment of all or a portion of your attorney
advance in excess of my credit limit, the minimum monthly payment will not reduce fees. New Hampshire and New York residents only: If I prevail in any action
the amount of principal outstanding. I will continue to make the payments described brought by you or me involving the Account, I shall be awarded reasonable
in this section until I begin to make the payments required during my Repayment attorney's fees. Pennsylvania residents only: If this Note is secured by real estate,
.Period. I will pay all of your reasonable attorney's fees which are actually incurred in
(b) Repayment Period. My fifteen year Repayment Period begins at the end of attorneys'
connection with foreclosure or other legal admin and up to $50 for your reasonable
my last Draw Period. I will make monthly payments during the Repayment Period fees which are actually incurred prior to commencement of foreclosure or
equal to 1/180th of the outstanding balance of my Account at the end of the Draw other legal action.
Period, plus monthly finance charges, other charges and amounts past due. During
the Repayment Period I may not obtain additional advances from my Account. 18. Delay in Enfontement. You can delay enforcing any of your rights under this
(c) Means of Payment. I will make my minimum monthly payment by the due Agreement without losing those rights or any other rights. If you waive any right
date shown on my billing statement. I may prepay all or part of the money by once, it does not mean that you must waive that or any other right later.
paying more than the Ininimum monthly payment from time to time without penalty.
A partial prepayment does not relieve me of my obligation to pay the amounts 19. Copies. You can prove I owe you money by using copies of documents as if
shown on future statements. they were the originals.
(d) Applying Payments. Payments will be applied first to billed finance charges,
then to any other charges that have not been treated as advances, then to advances 20. Obligation of Borrowers. Even if there is more than one of us, I am
accruing finance charge at preferred rates, then to all other advances, and finally to individually responsible for all promises made in this Agreement. You may require
unbilled but accrued finance charges. me to pay all amounts due without asking another person to pay. I will pay all
(e) Set-off. In the event of default, you may to the extent permitted by law, amounts due even if you and another person agree to revise this Agreement or
setoff all or any portion of the amount due under the Agreement against any deposit release the Collateral.
accounts that I maintain with you by giving me any notice required by applicable
law. This provision does not apply if you have issued me any card which I can use 21. Tax Deductibility. I should consult a tax advisor regarding the deductibility of
to access my account. interest and charges imposed on my Account.
11. Periodic Statement. I will receive a billing statement which will give me 22. Notices. You will send all notices to me at the address next to my signature. A
information about my Account. If the Account balance shown on my statement is a notice sent to one of us will be considered notice to all of us. I will notify you
credit balance and I send you a written request, or if you are required to do so by promptly if I change my mailing address. Except for notices related to billing errors
law, you will refund that amount to me promptly. (see "My Billing Rights"), I will send all notices and requests to you at:
FLEET NATIONAL BANK, A BANK OF AMERICA COMPANY
12. Property Insurance. I agree to name you as mortgagee on an insurance policy
on the Property. The policy must be satisfactory to you. If you so require, I will CONSUMER LOAN OPERATIONS
mainenin flood insurance on the Property. So long as this Agreement is in effect, I
will maintain these policies. I may obtain these policies from anyone I choose who COILATERAL DEPARTMENT
is acceptable to you. 315 COURT STREET
13. Re-evaluation. At your cost, you may re-evaluate my creditworthiness and the P.O. BOX 3092
value of the Property from time to time. Subject to applicable law, you can obtain UTICA ' NY 13502
credit information about me and exchange it, and mformation about the Account,
with affiliates, subsidiaries and others you deem appropriate. You may also ask me or to such address you provide for notices.
to give you a new credit application and any other information that you feel you
need, and I will promptly give it to you. 23. Change in Terms. Except as otherwise provided in this Agreement, you will
not change any terms of this Agreement without my written consent unless the
14. Suspensions and Reductions of Credit Limit. You can suspend my right to change is insignificant or would benefit me for the remaining term of the
obtain advances or reduce my credit limit during any period in which any of the Agreement. If you change any term of this Agreement, to the extent required by
following is in effect: law you will give me prior written notice of the change. Unless otherwise required
(a) the value of the Property declines significantly below its appraised value for by law, any change in terms will apply to all amounts on the Account then
purposes of this Agreement; outstanding and thereafter incurred.
(b) due to a material change in my financial circumstances, you reasonably
believe I will not be able to meet the above payment requirements; 24. Assignment. I may not assign this Agreement or my rights and obligations
(c) I am in default of a material obligation under this Agreement. For example, I under it. At any time you may assign this Agreement and the Mortgage to another
would be in default if I: (1) fail to make payment when due on any other loan person.
secured by the Property from you or another creditor; (2) fail to comply with the
terms of the Mortgage; or (3) fail to provide a current financini statement or any 25. Applicable Law. If I reside in ME, NJ, PA or RI, this Agreement is
financial information you reasonably request at any time; governed by federal law and the law of the state where the Bank is principally
(4) government action prevents you from imposing the annual percentage rate located, Rhode Island except as to matters directly related to the Bank's lien and its
provided for, or impairs your security interest such that the value of the Property is ability to enforce its lien on the real property securing this Agreement where the law
less than 120 percent of the credit line; of the state where the property is located governs. If I reside in CT, FL, MA, NH
(e) a regulatory agency has notified you that continued advances would constitute or NY, this Agreement is governed by the law of the state where I reside except as
an unsafe and unsound practice; to matters directly related to the Bank's lien and its ability to enforce its lien on the
(f) The maximum annual percentage rate is reached; or real property securing this Agreement where the law of the state where the property
(g) One of the events listed in Section 15 below occurs which would permit you is located governs.
to terminate my Account.
To the extent that federal law preempts state law, this Agreement is governed by
15. Terminavian. You may terminate my Account at any time if federal law. If any provision of this Agreement conflicts with any existing or future
(a) I commit fraud or make a material misrepresentation in connection with the law, it shall be deemed modified to the extent necessary to comply with such law,
Account; and the validity of the remaining terms of this Agreement shall not be affected.
(b) except if the Account is secured by a junior mortgage on Connecticut
property, I fail to meet the payment terms of the Agreement for any outstanding 26. Documentation. I agree to execute or re-execute any document, including a
balance. If the Account is secured by a junior mortgage on Connecticut property, I revised version of this Agreement, that you request in order to correct any error or
will be in default if I fail to make a payment within sixty days after the due date; omission in the original Agreement, security instrument, or other loan documents.
however, my failure to pay when due will allow you to suspend my right to borrow;
-CONTINUED ON NEXT PAGE-
98317A Rev. 09/2004 Page 2 of 3 Bank Copy
FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024
Home Equity Line of Credit Agreement
(for use only in CT, FL, MA, Mil, NH, NJ, NY, PA and RI)
MY BILLING RIGHTS NEW YORK NOTICE TO CO-SIGNER
KEEP THIS NOTICE FOR FUTURE USE You agree to pay the debts incurred from time to time on the account identified
below, although you may not personally receive any property, services or money.
This notice contains important information about my rights and your responsibilities You may be sued for payment, although the person opening the account is able to
under the Fair Credit Billing Act·
pay. You should know that the Limit of Liability listed below does not include court
attorneys'
I costs or fees, or other costs or charges that may be stated in the
HOU NOTIFY YOU IN CASE OF ERRORS OR QUESTIONS ABOUT MY
agreement. You will also have to pay some or all of these costs and charges if the
Agreement for the consumer credit amount, payment of which you are
If I think my statement is wrong, or if I need more information about a transaction guaranteeing, requires the borrower to pay such costs and charges.
on my statement, I should write you on a separate sheet at the "Send Inquiries To"
address listed on my statement. I will write to you as soon as possible. I understand This Notice is not the Agreement, or other writing, that obligates you to pay the
that you must hear from me no later than 60 days after you sent me the first debt. Read the Guaranty below for the exact terms of your obligations and of your
statement on which the error or problem appeared. I can telephone you, but doing rights to limit or end your obligations.
so will not preserve my nghts.
In my letter, I must give you the following information:
1. My full name and account number. IDENTIFICATION OF ACCOUNT YOU MAY HAVE TO PAY:
2. The dollar amount of the suspected error.
3. I must describe the error and explain, if I can, why I believe there is
an error.
If I have authorized you to pay my Home Equity Line of Credit bill automatically Name of Debtor:
from my checking or savings account, I can stop the payment on any amount I think
is wrong. To stop the payment, my letter must reach you three business days before
the autontatic payment is scheduled to occur. Type of Account: Mortgage Secured Line of Credit
MY RIGHTS AND YOUR RESPONSIBILITIES
AFTER YOU RECEIVE MY WRITTEN NOTICE Limit of Liability:
You must acknowledge my letter within 30 days, unless you have corrected the
r by en W 90 day you must either correct the error or explain why you
I have been given a completed copy of this Notice and of each writing that obligates
me or the borrower on the Account.
After you receive my letter, you cannot try to collect any amount I question, or
report me as delinquent. You can continue to bill me for the amount I question,
including finance charges, and you can apply any unpaid amount against my credit
limit. I do not have to pay any questioned amount while you are investigating, but I Co-signer Date
am still obligated to pay the parts of my statement that are not in question.
If you find that you made a mistake on my statement, I will not have to pay any GUARANTY
finance charges related to any questioned amount. If you didn't make a mistake, I
may have to pay. finance charges, and I will have to make up any missed payments To induce the bank to make this loan, each undersigned guarantor unconditionally
on the questioned amount. In either case, you will send me a statement of the guarantees the payment when due of all money owed under the above Home Equity
amount I owe and the date that it is due. Line of Credit Agreement and the mortgage securing it. Each guarantor is jointly
and severally liable with the Borrower. This means that the bank does not have to
If I fail to pay the amount that you think I owe, you may report me as delinquent·
try to collect from anyone or anyone's property before collecting from a guarantor.
However, if your explanation does not satisfy me and I wnte to you within 10 days The bank may take any action permitted by the agreement(s) being guaranteed
telling you that I still refuse to pay, you must tell anyone you report me to that I
have a question about my statement. And you must tell me the name of anyone you without notifying the guarantor or releasing the guarantor from responsibility. The
report me to. You must tell anyone you report me to that the matter has been settled guarantor will pay any expenses the bank incurs in enforcing the guaranty,
between us when it finally is. including reasonable attorney's fees and court costs. The bank does not have to
notify any guarantor of the bank's acceptance of this guaranty.
If you don't follow these rules, you can't collect the first $50 of the questioned
amount, even if my statement was correct. Each guarantor accepts the terms of this guaranty and acknowledges receipt of a
completed copy of this Agreement and this guaranty.
In this Notice, the words "you" and "your" mean each person who signs the Home
Equity Line of Credit Agreement ("Agreement") as a cosigner.
Guarantor
NOTICE TO CO-SIGNER (Co-signer):
You are being asked to guarantee this debt. Think carefully before you do. If
the borrower doesn't pay the debt, you will have to. Be sure you can afford to Address:
pay if youhave to, and that you want to accept responsibility.
You may have to pay up to the full amount of the debt if the borrower does not
pay. You may also pay late fees or collection costs, which increase this amount.
The bank can collect this debt from you without first trying to collect from the
borrower. The bank can use the same collection methods against you that can Guarantor
be used against the borrower, such as suing you, garnishing your wages, etc. If (Co-signer):
this debt is ever in default, that fact may beconte part of your credit record.
This notice is not the contract that makes you liable for the debt.
Address:
98317BRev.09/2004 Page 3 of 3 Bank Copy
FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024
BORROWER'S
LIMITED TITLE AGREEMENT
STATE OF NEW YORK
COUNTY OF QUEENS
DATE MAY 9, 2005
RE: Borrower(s)/Mortgaqor(s):
RAQUEL PRIOLO
RAQUEL PRIOLO
ANTONIO PRIOLO
Property Address: 136-11 BEACH CHANNEL DR QUEENS BELL HARBOUR, NY 11694
Loan Amount $ 240,600.00 Account Number:
In consideration of the Lien Protection Insurance Carrier ("Carrier") issuing lien protection insurance insuring your
mortgage for the purpose of enabling the financing, and recognizing Carrier's reliance upon these agreements, I/We
agree as follows:
1. 1/We will, within ten (10) days of being asked, comply with any request by (Lender) or Carrier's agent to
correct documentation errors or oversights, if any, that occur in the documentation of the loan.
2. I/We confirm that all statements made in the loan application, disclosures of all known mortgages
(including liens, judgements and encumbrances) and all other documentation which has been furnished to
(Lender) and to Carrier were true and correct when made and are materially true and correct today, except
as previously disclosed to (Lender) and to Carrier in writing.
3. 1/We confirm that all bills for real estate taxes, water and sewer charges and other municipal fees
are current and paid to date.
4. I/We hereby indemnify and agree to hold Carrier harmless for any loss or damage sustained by Carrier
under its policy of lien protection insurance.on the above referenced premises as a result of any lien for
work performed or materials supplied in connection with any construction, alteration, repair or
improvement on the above referenced premises within the last 120 days.
5. I/We understand and agree that if any representation made above is incorrect or untrue that we will be
responsible for and will indemnify and hold Carrier harmless for any loss or damage sustained by Carrier
under its policy of lien protection insurance.
(Mortgagor/B rrower ignature)
Printed Name L PRIOLO
(Mortgagor/B ower Signature)
Printed Na :
(Mortgagor/ orrowe Ignature)
Printed Nam : RAQ EL PRIOLO
(Mortgagor/Borrower Signature)
Printed Name:
tMftgagor/BorroweU%ignature)
Printed Name: ANTONIO PRIOLO
LTDTITLERev 01/2001
FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024
Addendum to the Home Equity Line of Credit Agreement
This Addendum amends my Home Equity Line of Credit Agreement (the "Agreement") governing my
Equity Credit Line Account ("my Account"). I have received a copy of the Agreement and this
Addendum.
The third paragraph of subsection c of section 6 of the Agreement entitled "Annual Percentage Rate and
Charges"
Finance is amended by adding the following to the end of the paragraph:
My margin will remain the same as indicated above for the first three billing cycles of my
Account. If, at the end of the third billing cycle during my draw period my Account
principal balance is equal to or greater than $25,000, the margin used to calculate the
interest rate on my Account will remain the same as indicated above for the life of my
Account. If at the end of the third billing cycle during my draw period, my Account
principal balance is less than $25,000, the margin used to calculate the interest rate on my
Account will increase by one quarter of one percent (1/4 of 1%) for the remainder of the
term of my Account. This change will be reflect
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FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024 Home Eqitity Line of Credit Agreement (for use only in CT, FL, MA, ME, NH, NJ, NT, PA and RI) 1. What the Words Mean. (a) "You," "your", "yours", and the "Bank" mean b. Next, you add up all the daily balances for the billing period and divide the Fleet National Bank, a Bank of America Company, its successors and assigns; (b) total by the number of days in the billing period. This gives you the average daily "I," "me," "my," "us" and "Borrower" mean each individual who signs this balance for my Account. (If any daily balance is a credit balance, you consider that Agreement, and each such individual's heirs, executors and administrators; (c) day's balance to equal zero.) "Account" means the Account subject to this Agreement; and (d) "Agreement" means this Home Equity Line of Credit Agreement (the "Agreement"). c. Then, you multiply the average daily balance times the daily periodic rate times the number of days in the billing period. This gives you the finance charge on my 2. Credit Limit. My credit limit is $240, 600.00 . Account. The amount of my unpaid borrowings, interest and other charges on my Account The daily periodic rate is calculated by dividing the annual percentage rate by 365. will not exceed my credit limit. At your sole discretion, you may allow me to exceed my credit limit. If you do, I will pay you the excess amount immediately upon your request. My initial ANNUAL PERCENTAGE RATE is 5.490 % ( daily periodic rate of 0.01504 %). It is based upon a Prime Rate of 6 .000 % and 3. Promise to Pay. I promise to pay you all amounts I borrow, plus finance charges and other fees and charges under the terms of this Agreement. a margin of -0.510 percentage points (·0.510 %) which I have selected. Except as limited by the maximum annual percentage rate, an increase in the Prime 4. Line of Credit. During the "Draw Period" I may obtain loan advances on my Rate as described above will result in a corresponding increase in my annual Account in the following manner: (1) by using special checks; (2) by withdrawal or percentage rate, daily periodic rate, finance charge owed, and minimum monthly transfer from the Account initiated through the use of a card that you have issued to payment. me; or (3) by any other means that you make available. If I request card access to my Account, this access may be denied at any time if my debit card is cancelled for . If any law is finally interpreted as limiting the finance charge or other charges any reason or all of my Bank deposit accounts linked to my account are closed. collected or to be collected in connection with my Account, then: (i) any such Card access may also be denied if my home equity Account is suspended or charge will be reduced by the amount necessary to reduce it to the permitted limit, terminated as outlined in Sections 14, 15, and 16 of this Agreement. My Draw and (ii) any sums collected from me which exceed the permitted limit will be applied Period starts on the day after my right to rescind this Agreement expires and to the amount of principal I then owe. continues until the last day of the billing period ending during the 59th month after 7. Closing Costs. In addition to the finance charge which will be added to my the month in which I sign this Agreement. Unless the Property securing the Account Account each billing cycle, I will pay the following fees, including real estate is m Connecticut, at your option, the Draw Period may be renewed for up to two additional five year periods. If the Property securing the Account is m Connecticut, closing and security filing fees: at your option, the Draw Period may be renewed for one additional period of a Points and Commitment.............................. $ 0.00 length you establish, but for not more than five years. You will notify me before the Document Preparation Fee .......................... $ 0.00 end of any Draw Period whether or not you will renew my Draw Period. After my final Draw Period, I will pay the balance I owe over a fifteen year period Mortgage Filing Fee .................................. $ 0.00 ("Repayment Period"). During any Draw Period, you do not have to make advances Title Examination & Certificate ................... $ O . 00 on the Account when my right to borrow has been suspended (see Section 14) or Lender's Title Insurance ............................. $ 0 , 00 terminated (see Section 15). Property Evaluation Fee ............................. $ 0.00 You will stop making advances on the Account, or limit the amount you will lend, Mortgage Tax .......................................... $ 0.00 at the written request of any of us who signs this Agreement. After such request is Documentary Stamp Tax.............................. $ 0.00 received, any request for a reinstatement of prior credit privileges must be in Intangible Tax........................................... $ 0.00 writing and signed by all of us. Attorney Fee (n/a NJ) / Closing Agent ............ $ 0.00 I will not use my Account to purchase the property securing the Account. Flood Determination................................... $ 0.00 5. Security. To secure payment of all sums I owe you under this Agreement, and Notary Fee .............................................. $ 0.00 any extension, renewal or modification of the Agreement, and to secure all charges Other $ 0.00 under the mortgage of the Property securing the Account, I am giving you a Other 0.00 $ mortgage ("Mortgage") on my real property located at: Total Amount Due.................................... $ 0.00 136-11 BEACH CHANNEL DR QUEENS BELL HARBOUR, NY 11694 (the "Property"). 8. Other Charges. Any charge listed below will be included in my minimum payment due for that billing period during which the charge was posted to my The Mortgage contains additional information. I agree to comply with all the terms Account. During a.Draw Period (but not Repayment Period), if I do not pay any of the Mortgage and to reimburse you for any amounts you pay to protect the such charge (except the late charge) by the payment due date, such charge will be Mortgage. The Mortgage will not secure any advances or other charges in excess of treated as a loan and included in my daily balance beginning on the first day of the my credit limit. Collateral securing other loans with you may also secure the billing period starting after the payment due date. Account. The Mortgage and the Agreement will remain in effect even though my Account balance may be reduced to zero from time to time. (a) Annual Membership Fee. Each year during a Draw Period, I will pay an annual membership fee of $50. If I am a Massachusetts customer and I 6. Annual Percentage Rate and Finance Charge. My annual percentage rate is cancel my Account during any year, I will receive a refund equal to two the highest Prime Rate most recently published under the heading "Money Rates" in thirds of my annual fee paid for that year. The Wall Street Journal, plus a margin. My annual percentage rate may change once each month on the first day of each billing period. If the Prime Rate is no If you waive the fee in any year, you may still charge a fee in subsequent years. longer published, you will choose a comparable independent index upon which to base my rate. My maximum ANNUAL PERCENTAGE RATE, permitted by (b) Late Charge. I will pay a late charge as checked below: law, is checked below: CT, FL, NJ, PA, ME, and RI: If any payment is more than 10 days late, I will ME, NJ, CT, RI, PA, NH: 21% pay a late chargeof $15. FL, MA 18% MA: If any payment is more than 15 days late, I will pay a late charge of $10 or 3% of the payment, whichever is less. X NY: The greater of: (a) 15.9% or (b) five percentage points (5%) over the annual percentage rate in effect when my Account was opened, but in NH: If any payment is more than 10 days late, I will pay a late charge no case will it exceed 25% . equalto $10 or 5% of the payment, whichever is larger. My annual percentage rate includes interest and no other costs. Finance charges accrue on each advance from the date of the advance until payment X NY: If any paymentis more than 15 days late, I will pay a late chargeequalto 2% is posted to my Account. You figure the finance charge on my Account as follows: of the payment. a. You take the beginning balance of my Account each day, add any new loans, and subtract payments, credits, adjustments, and unpaid finance charges. During the (c) Early Cancellation Fee. For ME, NJ, PA, and RI borrowers: If I ask you to Draw Period (but not the Repayment Period) any charge listed in Section 8 (except close my Account within 12 months after it is opened I will pay you $250. a late charge) that is assessed and not paid by the payment due date shown on the For CT, MA, FL, and NH borrowers: If I ask you to close my Account monthly statement on which it is itemized, will be treated as an advance and within 24 months after it is opened I will pay you $250. included in the daily balance calculation beginning on the first day of the billing period that starts after that payment due date. This gives you the daily balance for my Account. - CONTINUED ON THE REVERSE SIDE - By signing below, I state I received a completed copy of the Agreement. I agree to the provisions on all pages of this Agreement. If I occupy the property as my principal dwelling, I certify I have received two (2) copies of a Notice of Right to Cancel this transaction. Execute r seal effectiv N)5/09/05 .. . . Borrower:. Address: 136-11 BEACH CHANNEL DR BELL HARBOUR, NY 11694 Borrower: Address: Received and accepted Title: by the Bank By: 98317Rev. 09/2004 Page 1 of 3 Bank Copy I FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024 Home Equity Line of Credit Agreement (for use only in CT, FL, MA, ME, NH, NJ, NY, PA and R1) (d) Early Terminatian Third Party Cost Reimbursement. For NY borrowers: (c) my action or inaction adversely affects the Property or any right of yours in When I opened my Account, I paid no closing cost to the Bank or to a third party. the Property, such as: my transferring title to the Property, selling the Property or If I ask you to close my account within 36 months after it is opened I will be failing to maintain required insurance on the Property, failing to pay taxes on the required to reimburse you $ 3, 584.00 representing a portion of the Property, some other action by me results in the filing of a lien that is or becomes New York mortgage tax that you paid on my behalf. senior to yours, the Property is taken by eminent domain or foreclosure by a prior (e) Release of Mortgage. When I pay off my Account, I will pay the actual cost lienholder; of recording a Release of Mortgage, as required by the city, town, or county in which the Property is located, at the time that the final payment on my account is (d) any of the following events adversely affects your rights in the Property: (1) a collected. judgment is filed against me; (2) I commit waste or fail to maintain the Property; (3) my illegal use of the Property subjects it to seizure; (4) I vacate the Property; (5) 9. Additional Charges. Any charge listed below will be treated as if it were a loan. except Accounts secured by Connecticut property, one of us dies (if the Account is It will be included immediately in my daily balance and accrue interest from the secured by Connecticut property, the death of all of us who signed the Mortgage); date offosting. or (6) a petition is filed by or against me under any bankruptcy or insolvency law. (a) reriodic Property Evaluation Fee. At any time when I am eligible for an If I am one of your executive officers, you may terminate my Account if any extension or renewal of my Draw Period, or when you have reduced my credit limit federal law dealing with credit extended to an executive officer requires that, as a or suspended my right to borrow under Section 14 or terminated my Account under condition of the plan, the credit shall be due and payable on demand. Section 15, you may obtain an updated evaluation of the Property to determine whether to grant the extension or renewal, to reinstate borrowing privileges, or to 16. Events After Termination. Subject to applicable law and without notifying me, permit repayment in installments. I agree to pay the actual cost of such evaluation, if you terminate the Account, you may do one or more of the following: (a) up to a maximum amount of $500, immediately close my Account; (b) return without paying any outstanding checks (b) Over Limit Fee. If you do not pay a check because it would cause me to drawn on my Account; (c) require me immediately to pay the entire outstanding exceed my credit limit, I will be charged $20. balance of my Account; (d) require me to pay the outstanding balance of my (c) Returned Check Fee. If a check or other instrument with which I make a Account as provided in Paragraph 10(b) ("Repayment Period"); (e) take any of my payment on the Account is returned to you unpaid for any reason, I will be charged money in your possession to pay what I owe, to the extent permitted by law; or (f) a returned check charge of $20 ($10 if I am a resident of MA). You will waive this subject to applicable foreclosure procedures, foreclose the Mortgage. fee if my check is drawn on a Bank deposit account. (d) Miscellaneous Fees. You may charge me additional fees for extra services 17. Collection Costs. If I fail to abide by any of this Agreement you may use any such as providing research and copies of documents, other than in response to a remedy permitted by law. To the extent permitted by law, I will pay you all billing error inquiry. reasonable collection costs, including reasonable attorney's fees. If the Property is in Florida, I agree to pay, in the event of default, all costs and expenses incurred in attorneys' 10. Payment. collection or foreclosure, including fees equal to ten percent (10%) of the (a) Draw Period. During a Draw Period my minimum monthly payment will be principal sum or such attorneys' larger amount as may be reasonable and just, and also all the sum of: (1) the finance charge accrued during the billing period; (2) other costs, expenses and fees incurred in any appellate and bankruptcy charges posted to the Account during the billing period; (3) any overdue payment; proceedings. If I am successful in any partial defense, set-off or counterclaim . and (4) the amount of any advance in excess of my credit limit. Except for any against you, the court may withhold payment of all or a portion of your attorney advance in excess of my credit limit, the minimum monthly payment will not reduce fees. New Hampshire and New York residents only: If I prevail in any action the amount of principal outstanding. I will continue to make the payments described brought by you or me involving the Account, I shall be awarded reasonable in this section until I begin to make the payments required during my Repayment attorney's fees. Pennsylvania residents only: If this Note is secured by real estate, .Period. I will pay all of your reasonable attorney's fees which are actually incurred in (b) Repayment Period. My fifteen year Repayment Period begins at the end of attorneys' connection with foreclosure or other legal admin and up to $50 for your reasonable my last Draw Period. I will make monthly payments during the Repayment Period fees which are actually incurred prior to commencement of foreclosure or equal to 1/180th of the outstanding balance of my Account at the end of the Draw other legal action. Period, plus monthly finance charges, other charges and amounts past due. During the Repayment Period I may not obtain additional advances from my Account. 18. Delay in Enfontement. You can delay enforcing any of your rights under this (c) Means of Payment. I will make my minimum monthly payment by the due Agreement without losing those rights or any other rights. If you waive any right date shown on my billing statement. I may prepay all or part of the money by once, it does not mean that you must waive that or any other right later. paying more than the Ininimum monthly payment from time to time without penalty. A partial prepayment does not relieve me of my obligation to pay the amounts 19. Copies. You can prove I owe you money by using copies of documents as if shown on future statements. they were the originals. (d) Applying Payments. Payments will be applied first to billed finance charges, then to any other charges that have not been treated as advances, then to advances 20. Obligation of Borrowers. Even if there is more than one of us, I am accruing finance charge at preferred rates, then to all other advances, and finally to individually responsible for all promises made in this Agreement. You may require unbilled but accrued finance charges. me to pay all amounts due without asking another person to pay. I will pay all (e) Set-off. In the event of default, you may to the extent permitted by law, amounts due even if you and another person agree to revise this Agreement or setoff all or any portion of the amount due under the Agreement against any deposit release the Collateral. accounts that I maintain with you by giving me any notice required by applicable law. This provision does not apply if you have issued me any card which I can use 21. Tax Deductibility. I should consult a tax advisor regarding the deductibility of to access my account. interest and charges imposed on my Account. 11. Periodic Statement. I will receive a billing statement which will give me 22. Notices. You will send all notices to me at the address next to my signature. A information about my Account. If the Account balance shown on my statement is a notice sent to one of us will be considered notice to all of us. I will notify you credit balance and I send you a written request, or if you are required to do so by promptly if I change my mailing address. Except for notices related to billing errors law, you will refund that amount to me promptly. (see "My Billing Rights"), I will send all notices and requests to you at: FLEET NATIONAL BANK, A BANK OF AMERICA COMPANY 12. Property Insurance. I agree to name you as mortgagee on an insurance policy on the Property. The policy must be satisfactory to you. If you so require, I will CONSUMER LOAN OPERATIONS mainenin flood insurance on the Property. So long as this Agreement is in effect, I will maintain these policies. I may obtain these policies from anyone I choose who COILATERAL DEPARTMENT is acceptable to you. 315 COURT STREET 13. Re-evaluation. At your cost, you may re-evaluate my creditworthiness and the P.O. BOX 3092 value of the Property from time to time. Subject to applicable law, you can obtain UTICA ' NY 13502 credit information about me and exchange it, and mformation about the Account, with affiliates, subsidiaries and others you deem appropriate. You may also ask me or to such address you provide for notices. to give you a new credit application and any other information that you feel you need, and I will promptly give it to you. 23. Change in Terms. Except as otherwise provided in this Agreement, you will not change any terms of this Agreement without my written consent unless the 14. Suspensions and Reductions of Credit Limit. You can suspend my right to change is insignificant or would benefit me for the remaining term of the obtain advances or reduce my credit limit during any period in which any of the Agreement. If you change any term of this Agreement, to the extent required by following is in effect: law you will give me prior written notice of the change. Unless otherwise required (a) the value of the Property declines significantly below its appraised value for by law, any change in terms will apply to all amounts on the Account then purposes of this Agreement; outstanding and thereafter incurred. (b) due to a material change in my financial circumstances, you reasonably believe I will not be able to meet the above payment requirements; 24. Assignment. I may not assign this Agreement or my rights and obligations (c) I am in default of a material obligation under this Agreement. For example, I under it. At any time you may assign this Agreement and the Mortgage to another would be in default if I: (1) fail to make payment when due on any other loan person. secured by the Property from you or another creditor; (2) fail to comply with the terms of the Mortgage; or (3) fail to provide a current financini statement or any 25. Applicable Law. If I reside in ME, NJ, PA or RI, this Agreement is financial information you reasonably request at any time; governed by federal law and the law of the state where the Bank is principally (4) government action prevents you from imposing the annual percentage rate located, Rhode Island except as to matters directly related to the Bank's lien and its provided for, or impairs your security interest such that the value of the Property is ability to enforce its lien on the real property securing this Agreement where the law less than 120 percent of the credit line; of the state where the property is located governs. If I reside in CT, FL, MA, NH (e) a regulatory agency has notified you that continued advances would constitute or NY, this Agreement is governed by the law of the state where I reside except as an unsafe and unsound practice; to matters directly related to the Bank's lien and its ability to enforce its lien on the (f) The maximum annual percentage rate is reached; or real property securing this Agreement where the law of the state where the property (g) One of the events listed in Section 15 below occurs which would permit you is located governs. to terminate my Account. To the extent that federal law preempts state law, this Agreement is governed by 15. Terminavian. You may terminate my Account at any time if federal law. If any provision of this Agreement conflicts with any existing or future (a) I commit fraud or make a material misrepresentation in connection with the law, it shall be deemed modified to the extent necessary to comply with such law, Account; and the validity of the remaining terms of this Agreement shall not be affected. (b) except if the Account is secured by a junior mortgage on Connecticut property, I fail to meet the payment terms of the Agreement for any outstanding 26. Documentation. I agree to execute or re-execute any document, including a balance. If the Account is secured by a junior mortgage on Connecticut property, I revised version of this Agreement, that you request in order to correct any error or will be in default if I fail to make a payment within sixty days after the due date; omission in the original Agreement, security instrument, or other loan documents. however, my failure to pay when due will allow you to suspend my right to borrow; -CONTINUED ON NEXT PAGE- 98317A Rev. 09/2004 Page 2 of 3 Bank Copy FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024 Home Equity Line of Credit Agreement (for use only in CT, FL, MA, Mil, NH, NJ, NY, PA and RI) MY BILLING RIGHTS NEW YORK NOTICE TO CO-SIGNER KEEP THIS NOTICE FOR FUTURE USE You agree to pay the debts incurred from time to time on the account identified below, although you may not personally receive any property, services or money. This notice contains important information about my rights and your responsibilities You may be sued for payment, although the person opening the account is able to under the Fair Credit Billing Act· pay. You should know that the Limit of Liability listed below does not include court attorneys' I costs or fees, or other costs or charges that may be stated in the HOU NOTIFY YOU IN CASE OF ERRORS OR QUESTIONS ABOUT MY agreement. You will also have to pay some or all of these costs and charges if the Agreement for the consumer credit amount, payment of which you are If I think my statement is wrong, or if I need more information about a transaction guaranteeing, requires the borrower to pay such costs and charges. on my statement, I should write you on a separate sheet at the "Send Inquiries To" address listed on my statement. I will write to you as soon as possible. I understand This Notice is not the Agreement, or other writing, that obligates you to pay the that you must hear from me no later than 60 days after you sent me the first debt. Read the Guaranty below for the exact terms of your obligations and of your statement on which the error or problem appeared. I can telephone you, but doing rights to limit or end your obligations. so will not preserve my nghts. In my letter, I must give you the following information: 1. My full name and account number. IDENTIFICATION OF ACCOUNT YOU MAY HAVE TO PAY: 2. The dollar amount of the suspected error. 3. I must describe the error and explain, if I can, why I believe there is an error. If I have authorized you to pay my Home Equity Line of Credit bill automatically Name of Debtor: from my checking or savings account, I can stop the payment on any amount I think is wrong. To stop the payment, my letter must reach you three business days before the autontatic payment is scheduled to occur. Type of Account: Mortgage Secured Line of Credit MY RIGHTS AND YOUR RESPONSIBILITIES AFTER YOU RECEIVE MY WRITTEN NOTICE Limit of Liability: You must acknowledge my letter within 30 days, unless you have corrected the r by en W 90 day you must either correct the error or explain why you I have been given a completed copy of this Notice and of each writing that obligates me or the borrower on the Account. After you receive my letter, you cannot try to collect any amount I question, or report me as delinquent. You can continue to bill me for the amount I question, including finance charges, and you can apply any unpaid amount against my credit limit. I do not have to pay any questioned amount while you are investigating, but I Co-signer Date am still obligated to pay the parts of my statement that are not in question. If you find that you made a mistake on my statement, I will not have to pay any GUARANTY finance charges related to any questioned amount. If you didn't make a mistake, I may have to pay. finance charges, and I will have to make up any missed payments To induce the bank to make this loan, each undersigned guarantor unconditionally on the questioned amount. In either case, you will send me a statement of the guarantees the payment when due of all money owed under the above Home Equity amount I owe and the date that it is due. Line of Credit Agreement and the mortgage securing it. Each guarantor is jointly and severally liable with the Borrower. This means that the bank does not have to If I fail to pay the amount that you think I owe, you may report me as delinquent· try to collect from anyone or anyone's property before collecting from a guarantor. However, if your explanation does not satisfy me and I wnte to you within 10 days The bank may take any action permitted by the agreement(s) being guaranteed telling you that I still refuse to pay, you must tell anyone you report me to that I have a question about my statement. And you must tell me the name of anyone you without notifying the guarantor or releasing the guarantor from responsibility. The report me to. You must tell anyone you report me to that the matter has been settled guarantor will pay any expenses the bank incurs in enforcing the guaranty, between us when it finally is. including reasonable attorney's fees and court costs. The bank does not have to notify any guarantor of the bank's acceptance of this guaranty. If you don't follow these rules, you can't collect the first $50 of the questioned amount, even if my statement was correct. Each guarantor accepts the terms of this guaranty and acknowledges receipt of a completed copy of this Agreement and this guaranty. In this Notice, the words "you" and "your" mean each person who signs the Home Equity Line of Credit Agreement ("Agreement") as a cosigner. Guarantor NOTICE TO CO-SIGNER (Co-signer): You are being asked to guarantee this debt. Think carefully before you do. If the borrower doesn't pay the debt, you will have to. Be sure you can afford to Address: pay if youhave to, and that you want to accept responsibility. You may have to pay up to the full amount of the debt if the borrower does not pay. You may also pay late fees or collection costs, which increase this amount. The bank can collect this debt from you without first trying to collect from the borrower. The bank can use the same collection methods against you that can Guarantor be used against the borrower, such as suing you, garnishing your wages, etc. If (Co-signer): this debt is ever in default, that fact may beconte part of your credit record. This notice is not the contract that makes you liable for the debt. Address: 98317BRev.09/2004 Page 3 of 3 Bank Copy FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024 BORROWER'S LIMITED TITLE AGREEMENT STATE OF NEW YORK COUNTY OF QUEENS DATE MAY 9, 2005 RE: Borrower(s)/Mortgaqor(s): RAQUEL PRIOLO RAQUEL PRIOLO ANTONIO PRIOLO Property Address: 136-11 BEACH CHANNEL DR QUEENS BELL HARBOUR, NY 11694 Loan Amount $ 240,600.00 Account Number: In consideration of the Lien Protection Insurance Carrier ("Carrier") issuing lien protection insurance insuring your mortgage for the purpose of enabling the financing, and recognizing Carrier's reliance upon these agreements, I/We agree as follows: 1. 1/We will, within ten (10) days of being asked, comply with any request by (Lender) or Carrier's agent to correct documentation errors or oversights, if any, that occur in the documentation of the loan. 2. I/We confirm that all statements made in the loan application, disclosures of all known mortgages (including liens, judgements and encumbrances) and all other documentation which has been furnished to (Lender) and to Carrier were true and correct when made and are materially true and correct today, except as previously disclosed to (Lender) and to Carrier in writing. 3. 1/We confirm that all bills for real estate taxes, water and sewer charges and other municipal fees are current and paid to date. 4. I/We hereby indemnify and agree to hold Carrier harmless for any loss or damage sustained by Carrier under its policy of lien protection insurance.on the above referenced premises as a result of any lien for work performed or materials supplied in connection with any construction, alteration, repair or improvement on the above referenced premises within the last 120 days. 5. I/We understand and agree that if any representation made above is incorrect or untrue that we will be responsible for and will indemnify and hold Carrier harmless for any loss or damage sustained by Carrier under its policy of lien protection insurance. (Mortgagor/B rrower ignature) Printed Name L PRIOLO (Mortgagor/B ower Signature) Printed Na : (Mortgagor/ orrowe Ignature) Printed Nam : RAQ EL PRIOLO (Mortgagor/Borrower Signature) Printed Name: tMftgagor/BorroweU%ignature) Printed Name: ANTONIO PRIOLO LTDTITLERev 01/2001 FILED: QUEENS COUNTY CLERK 04/11/2024 11:32 AM INDEX NO. 707769/2024 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 04/11/2024 Addendum to the Home Equity Line of Credit Agreement This Addendum amends my Home Equity Line of Credit Agreement (the "Agreement") governing my Equity Credit Line Account ("my Account"). I have received a copy of the Agreement and this Addendum. The third paragraph of subsection c of section 6 of the Agreement entitled "Annual Percentage Rate and Charges" Finance is amended by adding the following to the end of the paragraph: My margin will remain the same as indicated above for the first three billing cycles of my Account. If, at the end of the third billing cycle during my draw period my Account principal balance is equal to or greater than $25,000, the margin used to calculate the interest rate on my Account will remain the same as indicated above for the life of my Account. If at the end of the third billing cycle during my draw period, my Account principal balance is less than $25,000, the margin used to calculate the interest rate on my Account will increase by one quarter of one percent (1/4 of 1%) for the remainder of the term of my Account. This change will be reflect