Preview
FILED: RICHMOND COUNTY CLERK 04/11/2024 02:40 PM INDEX NO. 135176/2024
NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 04/11/2024
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF RICHMOND
Gulf Harbour Investments Corporation, SUMMONS
Plaintiff, INDEX NO.:
vs. MORTGAGED PREMISES:
Carlo J. Caruana; Nancy M. Caruana; TD Bank, N.A.; 60 Blythe Place
Santander Bank, N.A.; John Doe #1 through #6, and Staten Island, NY 10306
Jane Doe #1 through #6, the last twelve names being
fictitious, it being the intention of Plaintiff to designate Block: 4477 Lot: 22
any and all occupants, tenants, persons or
corporations, if any, having or claiming an interest in
or lien upon the premises being foreclosed herein,
Defendants.
THE ABOVE NAMED DEFENDANTS:
YOU ARE HEREBY SUMMONED to answer the Complaint in the above captioned action and
to serve a copy of your Answer on the Plaintiff’s attorney within twenty (20) days after the service of
this Summons, exclusive of the day of service, or within thirty (30) days after completion of service
where service is made in any other manner than by personal delivery within the State. The United States
of America, if designated as a Defendant in this action, may answer or appear within sixty (60) days of
service hereof. In case of your failure to appear or answer, judgment will be taken against you by default
for the relief demanded in the Complaint.
Richmond County is designated as the place of trial. The basis of venue is the location of the
mortgaged premises foreclosed herein.
Date:_________________
April 11, 2024 By: ______________________
Christhie Montero, Esq.
McCalla Raymer Leibert Pierce, LLC
420 Lexington Avenue, Suite 840
New York, New York 10170
Phone: 347-286-7409
Fax: 347-286-7414
Attorneys for Plaintiff,
Gulf Harbour Investments Corporation
File No. 22-13660NY
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Special Summons Requirement Pursuant to RPAPL §1320
NOTICE
YOU ARE IN DANGER OF LOSING YOUR HOME
If you do not respond to this Summons and Complaint by serving a copy
of the Answer on the attorney for the mortgage company who filed this
foreclosure proceeding against you and filing the Answer with the Court,
a default judgment may be entered and you can lose your home.
Speak to an attorney or go to the Court where your case is pending for
further information on how to answer the Summons and protect your
property.
Sending a payment to your mortgage company will not stop this
foreclosure action.
YOU MUST RESPOND BY SERVING A COPY OF THE ANSWER ON
THE ATTORNEY FOR THE PLAINTIFF (MORTGAGE COMPANY)
AND FILING THE ANSWER WITH THE COURT.
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NOTICE TO DEFENDANT
DURING THE CORONAVIRUS EMERGENCY, YOU
MIGHT BE ENTITLED BY LAW TO TAKE ADDITIONAL
DAYS OR WEEKS TO FILE AN ANSWER TO THIS
COMPLAINT.
PLEASE CONTACT YOUR ATTORNEY FOR MORE
INFORMATION.
IF YOU DON'T HAVE AN ATTORNEY,
PLEASE VISIT
http://ww2.nycourts.gov/admin/OPP/foreclosures.shtml
OR
https://www.nycourts.gov/courthelp/Homes/foreclosures.shtml
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AVISO A DEMANDADO
DURANTE LA EMERGENCIA DEL CORONAVIRUS,
ES POSIBLE QUE USTED TENGA DERECHO POR LEY
A TOMAR DÍAS O SEMANAS ADICIONALES
PARA PRESENTAR UNA RESPUESTA
A ESTA PETICIÓN
POR FAVOR CONTACTE A SU ABOGADO PARA MAS
INFORMACÍON.
SI USTED NO TIENE UN ABOGADO,
VISITE
http://ww2.nycourts.gov/admin/OPP/foreclosures.shtml
O
https://www.nycourts.gov/courthelp/Homes/foreclosures.shtml
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HELP FOR HOMEOWNERS IN FORECLOSURE
New York State Law requires that we send you this notice about the foreclosure
process. Please read it carefully.
SUMMONS AND COMPLAINT
You are in danger of losing your home. If you fail to respond to the Summons and
Complaint in this foreclosure action, you may lose your home. Please read the
Summons and Complaint carefully. You should immediately contact an attorney or
your local legal aid office to obtain advice on how to protect yourself.
SOURCES OF INFORMATION AND ASSISTANCE
The State encourages you to become informed about your options in foreclosure. In
addition to seeking assistance from an attorney or legal aid office, there are
government agencies and non-profit organizations that you may contact for
information about possible options, including trying to work with your lender during
this process.
To locate an entity near you, you may call the toll-free helpline maintained by the
New York State Department of Financial Services at 1-877-BANK-NYS (1-877-226-
5697) or visit the department’s website at: http://www.dfs.ny.gov
RIGHTS AND OBLIGATIONS
YOU ARE NOT REQUIRED TO LEAVE YOUR HOME AT THIS TIME. You have
the right to stay in your home during the foreclosure process. You are not required
to leave your home unless and until your property is sold at auction pursuant to a
judgment of foreclosure and sale.
Regardless of whether you choose to remain in your home, YOU ARE REQUIRED
TO TAKE CARE OF YOUR PROPERTY and pay property taxes in accordance with
state and local law.
FORECLOSURE RESCUE SCAMS
Be careful of people who approach you with offers to “save” your home. There are
individuals who watch for notices of foreclosure actions in order to unfairly profit
from a homeowner’s distress. You should be extremely careful about any such
promises and any suggestions that you pay them a fee or sign over your deed. State
law requires anyone offering such services for profit to enter into a contract which
fully describes the services they will perform and fees they will charge, and which
prohibits them from taking any money from you until they have completed all such
promised services.
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NOTICE TO TENANTS OF BUILDINGS IN
FORECLOSURE
New York State Law requires that we send you this notice about the foreclosure
process. Please read it carefully.
We, Gulf Harbour Investments Corporation, are the foreclosing party and are
located c/o our servicer, Specialized Loan Servicing LLC, at 6200 S. Quebec St., Suite
300, Greenwood Village, CO 80111. We can be reached at (800) 306-6059.
The dwelling where your apartment is located is the subject of a foreclosure
proceeding. If you have a lease, are not the owner of the residence, and the lease
requires payment of rent that at the time it was entered into was not substantially
less than the fair market rent for the property, you may be entitled to remain in your
home until 90 days after any person or entity who acquires title to the property
provides you with a notice as required by section 1305 of the Real Property Actions
and Proceedings Law. The notice shall provide information regarding the name and
address of the new owner and your rights to remain in your home. These rights are
in addition to any others you may have if you are a subsidized tenant under federal,
state or local law or if you are a tenant subject to rent control, rent stabilization or a
federal statutory scheme.
ALL RENT-STABILIZED TENANTS AND RENT-CONTROLLED TENANTS
ARE PROTECTED UNDER THE RENT REGULATIONS WITH RESPECT TO
EVICTION AND LEASE RENEWALS. THESE RIGHTS ARE UNAFFECTED BY
A BUILDING ENTERING FORECLOSURE STATUS. THE TENANTS IN RENT-
STABILIZED AND RENT-CONTROLLED BUILDINGS CONTINUE TO BE
AFFORDED THE SAME LEVEL OF PROTECTION EVEN THOUGH THE
BUILDING IS THE SUBJECT OF FORECLOSURE. EVICTIONS CAN ONLY
OCCUR IN NEW YORK STATE PURSUANT TO A COURT ORDER AND AFTER
A FULL HEARING IN COURT.
If you need further information, please call the New York State Department of
Financial Services toll-free helpline at 1-877-BANK-NYS (1-877-226-5697) or visit
the Department's website at http://www.dfs.ny.gov.
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SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF RICHMOND
Gulf Harbour Investments Corporation, COMPLAINT FOR MORTGAGE
FORECLOSURE
Plaintiff,
INDEX NO.:
vs.
MORTGAGED PREMISES:
Carlo J. Caruana; Nancy M. Caruana; TD Bank, N.A.;
Santander Bank, N.A.; John Doe #1 through #6, and
60 Blythe Place
Jane Doe #1 through #6, the last twelve names being
Staten Island, NY 10306
fictitious, it being the intention of Plaintiff to designate
any and all occupants, tenants, persons or
Block: 4477 Lot: 22
corporations, if any, having or claiming an interest in
or lien upon the premises being foreclosed herein,
Defendants.
Plaintiff, Gulf Harbour Investments Corporation (“Plaintiff”), by its Counsel, McCalla Raymer
Leibert Pierce, LLC, and for its Complaint against the above named Defendants, alleges as follows:
1. Plaintiff, a Corporation, having an address c/o its servicer, Specialized Loan Servicing
LLC, 6200 S. Quebec St., Suite 300, Greenwood Village, CO 80111, is the owner and holder of the note
and mortgage to be foreclosed in this action, or has been delegated the authority to institute a mortgage
foreclosure action by the owner and holder of the subject note and mortgage. Plaintiff is duly licensed
and/or organized under the laws of the United States of America or a state therein.
2. Plaintiff has the right to foreclose. The originals of the subject mortgage and note are in
the foreclosing entity's “possession and control” or that of the custodian.
3. On or about March 7, 2006, Defendants Carlo J. Caruana and Nancy M. Caruana executed
and delivered to National City Bank a certain note (the “Note”) whereby they bound themselves in the
amount of $125,807.00, together with accrued interest on the unpaid principal balance and such other
amounts until paid, pursuant to the terms of the Note. The Note bears an initial annual percentage rate of
7.750%. A copy of the Note is attached hereto as Exhibit “A”.
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4. To secure payment of the Note, Defendants Carlo J. Caruana and Nancy M. Caruana
granted a mortgage (the “Mortgage”) against the property owned by them located at 60 Blythe Place,
Staten Island, NY 10306 (the “Mortgaged Premises”) to National City Bank in the amount of
$125,807.00 on March 7, 2006. The Mortgage was recorded in the Richmond County Clerk's Office on
April 6, 2006, as Land Doc # 119425 at which time the mortgage recording tax was duly paid. A copy of
the Mortgage is attached hereto as Exhibit “B”.
5. The Mortgage has been assigned as follows:
a From PNC Bank, National Association, successor by merger to National City Bank
to E*Trade Bank by Assignment of Mortgage dated March 8, 2019 and recorded in the Richmond
County Clerk's Office on April 15, 2019, as Land Doc # 736044. A copy of the Assignment of
Mortgage is attached hereto as Exhibit "B".
b From E*Trade Bank to Gulf Harbour Investments Corporation by Assignment of
Mortgage dated May 8, 2019 and recorded in the Richmond County Clerk's Office on May 30,
2019, as Land Doc # 740581. A copy of the Assignment of Mortgage is attached hereto as Exhibit
"B".
6. The tax map designation of the Mortgaged Premises is known as or part of Block: 4477
Lot: 22. The full legal description of the Mortgaged Premises is attached hereto as Exhibit “C”.
7. The Defendant(s) referenced in paragraphs 3 and 4 above have failed to comply with the
terms of the Note and/or Mortgage by failing to pay the amount currently due for April 25, 2018 and each
subsequent payment that has come due thereafter, together with any other amounts for taxes, assessments,
water rates, escrow, insurance premiums and/or any other charges that have come due and are payable
under the terms of the Note and/or Mortgage since the date of default set forth above.
8. The requisite contractual notice, if applicable, was sent by Plaintiff's servicer in
accordance with the terms of the Mortgage notifying the borrower(s) of the default, advising of the
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actions necessary to cure said default, the date by which to cure being at least thirty (30) days from the
date of said notice, and advising of the borrower(s)' right to present a defense to the lawsuit. Despite the
written demands, the default has not been cured. As a result, Plaintiff hereby elects and demands that the
entire principal sum due on the Note, along with all unpaid interest, advances, fees and costs are
accelerated and are now due and payable.
9. As of the date of default, the principal balance due and owing pursuant to the terms of the
Note and/or Mortgage is $112,852.06, together with accrued interest, taxes, assessments, water rates,
maintenance, late fees, insurance premiums, escrow advances, reasonable attorneys' fees, and any other
charges that are validly due and owing pursuant to the terms of the Note and/or Mortgage, to be calculated
and established at the time Plaintiff applies for Judgment of Foreclosure or Sale.
10. In order to protect its security, Plaintiff (directly and/or through its servicer or agent) has
made advances, or may be obligated during the pendency of this action to make advances, for the
payment of taxes, insurance premiums and other necessary charges affecting the Mortgaged Premises.
Any such sums advanced under the terms of the Note, together with interest (to the extent allowed), are
to be added to the sum otherwise due on and be deemed secured by the Mortgage.
11. All Defendants herein may have, or claim to have, some interest in, or lien upon the
Mortgaged Premises or some part thereof, which interest or lien, if any, has accrued subsequent and/or
subject to the lien of Plaintiff's Mortgage.
12. The Defendants identified more fully in Exhibit “D” are made parties solely for the
reasons set forth in said Exhibit.
13. Defendants, John Doe #1 through 6 and Jane Doe #1 through 6, are unknown occupants,
if any exist, of the Mortgaged Premises being foreclosed or may be any persons or entities of any kind
otherwise claiming a lien or interest in or against the Mortgaged Premises.
14. Plaintiff has complied with the applicable provisions of RPAPL §1304 and the Banking
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Law, specifically §§595-a, 6-l and/or 6-m if applicable, in that the requisite notice was sent by its servicer,
in at least fourteen point type, and containing a current list of at least five housing counseling agencies
serving the county where the property is located from the most recent listing available from department
of financial services to the borrowers by registered or certified mail and also by first class mail to the last
known address of the borrowers and to the residence that is the subject of the Mortgage. Further, Plaintiff
has complied with the applicable provisions of RPAPL §1306 in that the notice required by RPAPL
§1304, if necessary, was filed with the superintendent of banks within three business days of mailing. If
applicable, copies of the registration(s) are attached hereto as Exhibit “E”.
15. Plaintiff has complied with the provisions of the Banking Law § 9-x, if applicable.
16. In the event this action proceeds to a judgment in foreclosure and sale of the Mortgaged
Premises, Plaintiff requests that the Mortgaged Premises be sold subject to any statement of facts an
inspection of the Mortgaged Premises would disclose or an accurate survey would show; covenants,
restrictions, easements and public utility agreements of record, if any; building and zoning ordinances
and possible violations of same; any rights of tenants or persons in possession of the Mortgaged Premises;
any equity/right of redemption of the United States of America within 120 days of the sale; and, any prior
mortgages and liens.
17. If the Mortgage secures more than one property, Plaintiff requests the judgment in
foreclosure provide for the sale of the properties in a particular order to the extent necessary to satisfy
the amounts due as determined by this Court.
18. Pursuant to the terms of the Mortgage, Plaintiff is entitled to recover attorneys' fees and
costs incurred in connection with this action.
19. All Exhibits attached hereto are expressly incorporated and made part of the Complaint
with the same force and effect as if they were set forth herein.
20. There are no other pending proceedings to enforce the referenced Note and Mortgage. To
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the extent there are any prior proceedings, it is the intention of the Plaintiff that any such action be
discontinued and the instant action be the only pending action.
WHEREFORE, Plaintiff, Gulf Harbour Investments Corporation, demands judgment:
1. Adjudging and decreeing that any advances Plaintiff or its servicer or agent made or will make
pursuant to the terms of the Note and/or Mortgage for the payment of taxes, insurance premiums and
other necessary charges affecting the Mortgaged Premises, together with interest (to the extent allowed),
are valid liens against the Mortgaged Premises.
2. Fixing the amounts due the Plaintiff for all amounts due under the Note and/or Mortgage,
including, but not limited to principal, interest, costs, late charges, expenses of sale, allowances and
disbursements, reasonable attorney's fees (to the extent allowed under the Note and/or Mortgage) and all
other monies advanced and paid which are secured by the Mortgage;
3. That the Defendants and all parties claiming by, through or under them and every other person or
entity whose right, title, conveyance or encumbrance is subsequent to or subsequently recorded, or whose
lien is being challenged by being a Defendant in this action, be barred and foreclosed of and from all
right, claim, lien, interest or equity of redemption in and to said Mortgaged Premises;
4. That said Mortgaged Premises, or such part thereof as may be necessary to raise the amounts due
herein, be decreed to be sold according to law subject to any statement of facts an inspection of the
Mortgaged Premises would disclose or an accurate survey of the Mortgaged Premises would show; as
further discussed in the Complaint above;
5. That out of the monies arising from the sale of the Mortgaged Premises, the Plaintiff may be paid
the amounts due on the Note and/or Mortgage, plus all other amounts provided for and allowed under
the judgment, including attorneys' fees and costs to be incurred in connection with this action, together
with any sums expended as aforesaid, with interest as allowed by law upon any advances from the dates
of the respective advance payments, to the extent allowed;
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6. That any Defendants referenced in paragraph 3 of this Complaint (and any original or subsequent
obligors so named in this action) may be adjudged to pay any deficiency that may remain after applying
all of said monies so applicable thereto, unless the debt has been listed and discharged in a bankruptcy
proceeding with respect to said Defendant;
7. That either or any of the parties to this action may become a purchaser upon such sale;
8. That this Court, if requested, forthwith appoint a receiver of rents and profits of said Mortgaged
Premises with the usual powers and duties;
9. In the event Plaintiff possesses any other liens against the Mortgaged Premises, they shall not be
merged with the same/instant matter. Plaintiff specifically reserves its right to share in any surplus monies
arising from the sale of the Mortgaged Premises by virtue of its position as a judgment or other lien
creditor, excluding the mortgage being foreclosed herein.
10. That the plaintiff be granted such other and further relief as may be just, equitable and proper.
Date:_________________
April 11, 2024 By: ______________________
Christhie Montero, Esq.
McCalla Raymer Leibert Pierce, LLC
420 Lexington Avenue, Suite 840
New York, New York 10170
Phone: 347-286-7409
Fax: 347-286-7414
Attorneys for Plaintiff,
Gulf Harbour Investments Corporation
File No. 22-13660NY
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EXHIBIT A
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RESERVE" - NATIONAL HOME EQUITY
EQUITY AGREEMENT
NYSCEF DOC. NO. 1 8 @iol10be Usedfor IJnesSecuredby a TexasHe RECEIVED NYSCEF: 04/11/2024
D't5 3 /07 /2 O06 AccanutNo.
You, the undersigned,areopeningan EquhyReserveLineof Credig(Line) with Nationa)City Bank(Bank)andagreethatthe fbIlowingmaterintarms
andconditionswill applyto yourLine.
Lhic of Credit. Your Line is anopen-endline of creditwhichyou mayuseto obiahtcashadvances from timeto time mea periodof 10
(Advances)
years(9 years10 monthsin ConnecticuÇ (DrawPeriod). If you continuein meetBank'sthencurremcmdit andcollateralvahtecriteria,at Bank's
discretionBankwilt eitherextendtheDraw1½riodIbr oneor nere addhionalDrawPeriodsor Bankmayrefinanceyour Lhm on thetermsthenbeing
offeredby BankIbr 15quityReserveLinesof Credit. Ifyour DrawPeriodIsnotrenewedor theLine refmanced,
yon mayrepayanyoutstanding balances
duringtheRepayrnentPeriodEsprovidedin thePaymem sectionhelow.
Theinitialamountof your Line is $ 125, 807 .00 (CreditLine). You havethe optionanytimeduringtheDrawPeriodof this
Agreement 10creefeRyedRateImks of all or partof yourLine ata Emedrateandtar a fired payment.TheFixedRateLock (PRL)balanceincluden
theFRL advanceIce. Any arnountyou repayon theUneand/oron anFRL will beagahtavailableto you on theLineuntil theendof meDrewPeriod.
Bankmayreducetheamountof yourCreditLineundercertaincondigions describedin thlsAgreement.
Advances.You may obtainAdvancesunderyour Line by issuingEquity ReservechecksandspecialFRL cheeks(eacha Cheek)suppHed by Bank.by
contactingCumomerServiceor by way of any otherBankapprovedplan. Bankwill chargeyour Checksdirectly againstyour Line. You may make
arrangements for an Advanceon your Line to pay off any FRL at any time by coniactingCustomerServiceat theaddressor phonenumberon your
statement.You shouldnotify Bankwhenyou needmoreChecks. The minignumFRL Advancethatyou canreceiveusingan FRL Checkis $5,00D.
FRL CheckAdvanceswill amomatically havea 20-yearRepayment Terrn. You maycontactCustomerServiceaftera FRL Checkpoststo your Lineto
changetheRepayment Termto oneof theotheravailablerermslistedin theFued RateLacitAdvances sectionbelow,however,FRL Advanceschanged
toanotherRepaymern Tennwilt he abject to financechargesat theannualpercemage rarein ethet thedaythenewFRL Espayment Terrais appiledby
CustomerServce, FRL Advancesfor IsrmsoLlterthan20 yearsmayalsobeobtainedby contacthig CusiomerServiceinsteadof by Check. FRL Checks
for lessthan$5,000will bepostedasa LineAdvance.You shouldalsonotify Bankimmedletely if yourChecksarelostar stolen. (PleaseseeLlic'Slop
Payment Orders"sectionof thisAgreement).Your statement wilt list Checksthathavebeenpaid,buttheactualpaidChecRA will notbe returnedto you.
You mayrequestcopiesof paidChecksfromtheBank,anda copyingfeemaybecharged.
Bankwill issueyou a Cardor Cardsfor usewith theLineexceptin Connecticut,NewYork andTexasandIn otherstateswheresuchaccessis limited.
ThewordCardcanmeanoneor rnorecredhcardsor Automated Tellur Machine(ATM) cards. You sutlmrize11ank
to issueyou a Cardfor vaswith the
Line. You maypurchase goodsor servicesfrommerchants whoIgonortheCard. You mayobininAdvancesfrornBankor ant otherfinancialinstkution
thaghonorsthe Card. You may alsoobtainAdvancesby usinga PersonalIdentificationNumber(PIN) for islephonebankingor on-linebanking
Advansas.Bankwin chargeait Advances to your Line.
If you allow someoneelsoto useyour Cardor P1Nand you want to stop suchuse, you mustlet Bankknow in writlog. You mum notily Bank
immediately if your Cardsor P1Narelastor stolen,or youbelieveLIntsomepersonmaybe emingyour Card(s)or PIN withoutpermission.Youwili not
useyourLine afternotifyingBankof loss,theftor emmthorized useof your Card(s)or PIN, You will notbeheldliablefor any unauthorized
useof the
Carder PIN afteryou havenotiEedBankof thelossor theft by phoneat 1-800-533-6596 or in writingat NationalCity CardServious,P.O.Box 4092,
Kalamazoo,Michigan490tB. (Otherwise you maybe liable.but not for morethan$50.) Bankmayterminatetheuseof your Card,PIN or Checksif
you loseyour Card,PIN or Checkstwo L'unes or morein a twelve-amathperiod. Bankmay alsoterminatetheuseof your Cardor PIN if your new
balanceexceeds your CreditLine by 2% or if youareoverlimit for morethanonehigingeycle.
Bankwill haveno obilgationto 1Nnorany Advanceby any meansif theresultingnewbalanceof your Linewouldexceedyour CreditLine; or afterthe
anduponBank's
of your CredhLineundertheconditionsdescribedin this Agreement,
DrawItriod ends;or in the eventof terminationor suspension
requestyou will returnChecksand/orCards. Your Line may not be usedfor InternetLottery,bettingor gamblingtransactionsor fbr any illegal
transactions.
Chargesfromforeignmerchants andfinancialinstitutionsmaybemade'ma fbreigncurrency.Banitwill bill you in U.S.Dollarsbasedontheexchange
rateonthe dayBanksettlesthetransactlen, plusanyspecialcurrencyexchange c1mrges. In thecaseof VISA Accounts:theexchange rateappliedto each
sucktransactionina ruleselectedby Visafroma rangeof ratesavailabicin wlmiesalecurreasymarketsfbr Ebeapplicablecontralprocessing date,which
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centralprocessing
wal chargea fbreigntransactionlbeof 1%of the convertedagnount.Because of thespeelatchargesandpossibledittemnces in exchange ratenbetwoon
thetimeBanksettlesandthetimeyou initiatedthetransaction,thetotalchargefor a Ibraigntransaction maybegreaterthanthecashadvanceor purchase
at thetimeli Wasmade.
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m)IJne Advances:Bankfiguresthe f'mancechargeon your Line by spplyingthe periodicrate10the 'averagedaily
your Line. To getthe 'average dailyhalance", Banktakesthe beginningbalance of the Lineeachday, addsany newAdvances i nchidingIf applicable.
thebroker.andprocessing fees,andotherdebits.andsubtracts anypayments or creditsandunpaidperiadlefinancecharges.This givesthe dailybalance.
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daily balance".
Advancesaresubjectto 11pance chargesfkontthedateof transactionto thedarepaymentis postedto theLine. Theperiodierateof financecharge andthe
Rate"of
annualpercentage ratearesubjectto change,basedon the valueat an index. Theindexin efibetfbr eachbilling cycleshallbe the "Prims
interestappearingIn the MoneyRatesTableof TheWaliStreetJournalpublisbudon thefirst day ofyour Billing Cycle(or, if not publishedonthatdate,
to thenearest.01%(LineIndex).
thelasteditionpubliabedpriorto tint date),roundedupward,if necessary,
TheANNUAL PERCENTAGE RATE in the Line Indexplus O. 2!i0 %(LineMargin). The FIl%NCE CHARGE fbr each
billing cycleshallbe camputedat theannualperceofage ratedividedby 12. As of 03/01/2006 , theentrantperiodicrateof
Per month, which correspondsto an ANNUAL PERCENTAGE RATE of
FINANCE CHARGE is 0 . 646
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The annualpercentage rateandthe periodicrate.offinancechargeinay increnasif theLine Indexincreases.In the eventof an Increase,the finance
or thetotal
chargewill increaseandtheminimumpaymentamountmay increase.If the minimumpaymentamnamla either1.ji%of thenewbalance payment
financecharges,an increaseor decreassin the annualpercentage increasecr decreasein the rninimum
ratewill resultin a corresponding
amount.
chargeon eachFRL by applyingtheperiodicrateto the "averagedeny
b) Fixeil Eate Iack advances: Bankfiguresthe finance
balance"of theFRL To get the"averagedallybalance",Banklakes11icbeginningbalanceof theFRL eackday andsubtractsany paymentsor endits
andunpaidperiodicfinansucharges.Thisgivesthedaily balance.Time,Bankaddsup allthe dailybalances for thebilling cycleanddivkicsthetotalby
themember of d#ysin thebilling cycle. Thisgivesthe"averagedailybalance".
EackFRL is subjectto financecharges&amthedateof thetransaction until paidin ibil. Theperiodicrateof financechargeandtheannualpercentage
ratearedetermined business
andfixedon 11m poststo your Line. The indexsha)Lbethehighestdaily ratefor 3 yearTreasurynotes
day thetransaction
118lastbusinessday of thecalendarmonthprecedingthe mom' in whichthe transaction
with constantmamritiesñom the 18businessday throughthe H.
if to
poststo your Line,rounded, necessary, thenearest0.125%(FRL Index). TheFRL1ndexganbe Ibundin theFederalReserveStatisticalRelease
15at www.thderaireserve.gov/releases/h15.
NHERA1((1ti/13/20D5)
14 of 43
FILED: RICHMOND COUNTY CLERK 04/11/2024 02:40 PM INDEX NO. 135176/2024
PERCENTAGE RATE is thePRL Indexplusa margin(FRL Margia). TheFINANCE CHARGE
TheANNUAL ar eachbmingeycle
NYSCEF DOC. NO. 1 at theanmialpercemage
shallbe"competed ratedividedby 12. As of 03/07/2 006 RECEIVED NYSCEF:
, theFRL Margin,thecurremperiodisrateof 04/11/2024
FINANCE CHARGE per monthand corresponding ANNUAL PERCENFAGE RATE lbr eachFRL Repayment TermareEstedin as
tablebelow:
FRL Repayment
Term FRL Margin MonthlyPeriodicRateof
MNANCE CHÿRGE | ANNUAL PERGENTAGE RATE
°ª' 3 .750 0.69 8 a .375
60monthy payments
10-yearFRIA
120momhlypaymems 4 .000 0.719 8 .625
15-yearFRI 4 .250 0.740 8. 875
180monthlypaymeme
20-yearFRL:
240monthlypayments 4 .750 0 , 7 81 9.375
(automaticterm for FRL cheets you
wri1sÆ
7-year"InterestOnly" FRL-
83 monthlypaymemsof onepmmyplus
* * 8'8 4 . 000 0. 719 8 . 625
(includingtheFRL AdvanceFee),
thIlowedby a balloonpaymentof ite
84* month.
remainingbalaasein the
e) Bath Line nul F!xedRale Iock Advances: In no eventshallthe periodicageof MMANCE CHARGE tie morethan
1.505 per ntosh or len.than0.25%permonthandin noeventshanun ANNUAL PERCENTAGE RATE bemorethan18.00s or semthan
3.001 Theammalpercentage rateInchides anamal
andnototheremas.Your monthlysistemeswill disclosetheupplicable
only Interest pamantage
rage
fbr thebilling cycle.
d) RepaymentBeziod: Any amountoutstandhig otherthanFRUs will be convertedto a PixedRateLock halanceon EbeInst
businessday of your DrawPuriedandwill besubjustto financechargesfor a FixedItateIAct basedon a 240monghRepayment Termfor balBE|ces
Of
S10,000or moreor a 120monthRepayment Termfor balances @)and(c) above. Theindexvalue's the
of lessthanS10,000asstatedIstsubsections
1"
highestFRLIndexfromthe business I18 themonthIn whichse DrawPeriodends,
daythroughthe lastbusinessday or thecalendarmomhpreecding
rounded,if necessary,asprovidedin subseoIion
(b) above.
Other EmmceCharges. A Broker feeFINANCE CHARGE of a 0.00
A DiscountFeeFINANCE CHARGE of $ 0 - 00 (O . 000 5 of CreditLine)
FeeMNANCE GARGE
A Processing of s 0.00
An FRL AdvanceFeeFINANCE CHARGE orsso roreachFixedRateLaetused.
Other Ourgas. In additionto financecharget thefollowingotherchargeswill apply:
" An annualfeeof $50reflectedonthe nNmhlystatemem lbr thefirst billing cycleof eachyearof your DrawPeriodbeginningwith the 13mbilrug
cycle,whetheror notyou obtainAdvances underyourLine. ThisfeeIsnotrefundable.
" A latepaymentfbeof thegreaterof l0% of theunpaidminbnumpaymentor S40,if Bankdoesnot receiveyourmininmmpaymentat theaddress
shownonyour statemem withhi 10daysof theDueDate..BankmaychargeanadditionalLatepaymentfeefor sachbilling eyclethatyour Line is
puntdee.
" An overlimitfeeof $25wheneveryou go overyour CreditLine. Bant maychargean additional$25for eachbligingcyclethatyou remainover
yourCreditLine.
" A rummedpaymentfeeof 330 if you makea paymemon your Line which is retnmedto Bankunpaidbecauseof insufficientIbnds,a closed
account,stoppayment,. or anyotherreason.
" A returnedcheckfeeof $3Dif youwritea CheckEbstBankdishonors underthe 'Advances"sectionof thisAgreement.
A stoppaymemfeeof 330for theserviceof stoppingpaymemona Checkanda $30servicefbefbr renewalof eachstoppaymentorder.
" A fbraigntransaction amount ThisfeeIs notapplicablesotransactions
feeof I% of thetransaction in theUnitedStates.
" An earlytermintion feeof S 350.00 if youcloseyour LinewBhinthefirst36 months
" A documentrequestfeeof $6percopyIbr serviceof providingcopies.Bant wlil potchargeyoufor documents Bankis requiredby law to giveyou
at nocharge.
" Any realestaterelatedolosing(basdosat the closingof your Lineas retketedon theHUD1 settlemem statementprovidedto you by the closing
agentwhichis herebyIncorporated andInadepartof thisAgreement by thisreferenou.
Bant doesnotloseany of itsotherrightsunderthisAgreement whetheror not it chargeslatepaynwnior overlimitfeet You alsoagreethatBankmay
alsochargeyou a fee,nototherwiseenumeratedberein.for servicesthatBankperformsfor youthatyou havemquested.Theapplicationof any feeshall
notcuruthedefuuRwhichinhintedthefbe.
SecurityIntensEs.Your Linuwlil be securedby a mortgage(Mortgage)on your dweling (Dwellirg). If the Dwellingis your primaryor succedary
residence, andwarrantto Bankthatat all Limesduringthetermof thisAgreement
you represent your Dwelling,or a minimumof onenail of your multi-
unitDwelling,shallbeoccupiedby youandshallnotbeusedasrenal property. Bankagreesgowaiveanysecurityinterestin theDwellingto theextem
it securesAdvanceswhichmaybein excessof your CreditLine, You nameBankaslosspayeeandhenefielaryof thepressedsof, andassignto Bant
connectedwith your Line. You ant not adverselyaffectBank'sinterestin the Dwellingby any actionor
any unearnedpremiurnsof, all Insurance
inaction.Youanut keepthe Dwellingin goodcondition,prompdypayall mortgages andothertiensagaimstheDweulog,andprotnptlypayall taxesand
assessments or usetheDwellingfor any illegaipurpose.
on theDwelling. Youmustnotsellor transfertitioto theDwellingwhhoutBank'spermission,
PropertyInsurance. You mostkeepthe Dwellingfully insuredagainstlossor darnageon tenosthatareacceptable to Bankto theextentperminedby
law. You nmstcarry floodinsuranceif requiredby federallaw. Wu may obtainproperty Insuranceor Arrnishexistingproperty insurnacefrom
anyonethat in acceptableto RankprovidedtheinsurerIsauthorizedto de business In thestateor jurisdictionwherethe DweBingle locatedar is an
eligiblesurphslinescarrier. Y