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Filing # 200514603 E-Filed 06/13/2024 03:47:44 PM
IN THE CIRCUIT COURT OF THE ELEVENTH JUDICIAL CIRCUIT IN AND FOR MIAMI-
DADE COUNTY, FLORIDA.
CIVIL DIVISION
CARRINGTON MORTGAGE SERVICES LLC, Case No.:
Plaintiff(s), Division:
Vv
JEANETTE C, RODRIGUEZ; UNKNOWN SPOUSE OF
JEANETTE C. RODRIGUEZ; ANA V. CAIRO;
LILIANA VALDES; UNITED STATES OF AMERICA,
ACTING ON BEHALF OF THE COMMISSIONER OF
HOUSING AND URBAN DEVELOPMENT,
Defendant(s).
COMPLAINT FOR FORECLOSURE
Plaintiff, CARRINGTON MORTGAGE SERVICES LLC, sues Defendants, and alleges:
MORTGAGE FORECLOSURE
1. This is an action to foreclose a reverse mortgage on real property located and situated in
MIAMI-DADE County, Florida.
Plaintiff is the holder of the note.
On August 19, 2019, OLGA F, VALDES, DECEASED ("Borrowers") executed and delivered
a Promissory Note ("Note"). On August 19, 2019, OLGA F. VALDES, DECEASED, ANA
V. CAIRO and LILIANA VALDES (‘Original Mortgagor") executed and delivered a
Mortgage ("Mortgage") securing the payment of the Note. The Mortgage was recorded on
September 25, 2019 in Official Records Book 31620, Page 3499, of the Public Records of
Miami-Dade County, Florida and mortgaged the property described in the mortgage then
owned by and in possession of the mortgagor(s). Copies of the Adjustable Rate Note, and
Home Equity Conversion Mortgage are attached hereto and incorporated herein as Composite
Exhibit "A."
PAGE 1
24-206120
On or about January 16, 2024, OLGA F. VALDES died, and the subject property is not the
principal residence of any surviving borrower.
Plaintiff declares the full amount to be due and payable pursuant to the note and mortgage.
The property is now owned by Defendant(s), JEANETTE C. RODRIGUEZ.
Plaintiff is due at least $196,344.69 in principal, plus future advances.
All conditions precedent to the acceleration of the note and foreclosure of the mortgage have
occurred or have been performed, waived or excused,
Plaintiff has retained the law firm of Robertson, Anschutz, Schneid, Crane & Partners, PLLC,
to represent them in this action and has agreed to pay them a reasonable fee and costs for their
services,
10. The interests of each Defendant named herein are subject, subordinate, and inferior to the right,
title, interest, and lien of Plaintiff's Mortgage.
Il Any interest in the property inuring to the Defendant, UNITED STATES OF AMERICA,
ACTING ON BEHALF OF THE COMMISSIONER OF HOUSING AND URBAN
DEVELOPMENT, is subordinate and inferior to the lien of Plaintiff's mortgage, including, but
not limited to, MORTGAGE recorded September 25, 2019, in Official Record Book 31620 at
Page 3512 of the Public Records of Miami-Dade County, Florida. A copy is attached hereto as
Exhibit "B".
12. Defendant, ANA V. CAIRO, may claim some right, title, or interest in the property herein
sought to be foreclosed by virtue of EXECUTION OF MORTGAGE recorded on September
25, 2019 in Official Records Book 31620, Page 3499, of the Public Records of Miami-Dade
County, Florida or some other unknown interest, the exact nature of which is unknown to
PAGE 2
24-206120
Plaintiff and not a matter of public record. However, said interest, if any, is subordinate, junior,
and inferior to the lien of Plaintiff's mortgage.
13 Defendant, LILIANA VALDES, may claim some right, title, or interest in the property herein
sought to be foreclosed by virtue of EXECUTION OF MORTGAGE recorded on September
25, 2019 in Official Records Book 31620, Page 3499, of the Public Records of Miami-Dade
County, Florida or some other unknown interest, the exact nature of which is unknown to
Plaintiff and not a matter of public record. However, said interest, if any, is subordinate, junior,
and inferior to the lien of Plaintiff's mortgage.
14. Defendant, UNKNOWN SPOUSE OF JEANETTE C. RODRIGUEZ, may claim some right,
title, or interest in the property herein sought to be foreclosed by virtue of homestead rights,
possession or some other unknown interest, the exact nature of which is unknown to Plaintiff
and not a matter of public record. However, said interest, if any, is subordinate, junior, and
inferior to the lien of Plaintiffs mortgage.
WHEREFORE, Plaintiff, CARRINGTON MORTGAGE SERVICES LLC, prays:
a) This Court take jurisdiction of this cause, the subject matter and the parties hereto;
b) The court determine the amounts due to Plaintiff from Defendants and that such
amounts be declared a lien upon the subject property;
°) The Court enter a judgment foreclosing the mortgage lien, and, upon the
Defendants’ failure to pay the amounts due to Plaintiff by a date certain, that this Court order that
said real property be sold in accordance with the law and practice of this Court so that Plaintiff's
mortgage lien is satisfied;
4d) The Court determine that the Plaintiff's interest is superior to the rights, title and
interests of the Defendants named herein or any other person or party claiming by or through or
PAGE 3
24-206120
under them since the filing of the Lis Pendens and that the rights, title and interests of said
Defendants be absolutely barred and foreclosed;
¢) This Court retain jurisdiction of this action to make any and all further orders and
judgments as justice requires, including but not limited to, the issuance of a writ of possession.
VERIFICATION OF COMPLAINT.
Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged
therein are true and correct to the best of my knowledge and belief.
Executed on this 7 Day of June 2024.
COMPU-LINK CORPORATION, DBA CELINK,
AS ATTORNEY-IN-FACT FOR CARRINGTON
MORTGAGE SERVICES LLC
Bi
Print Name: Kinsey Bartlett
Title: Assistant Secretary
I HEREBY CERTIFY that a true and correct copy of the foregoing Complaint and copy
of the Summons to the United States of America has been furnished by Certified Mail, Return
Receipt Requested this _13 day of June, 2024 __ to the Attorney General of
the United States of America, U.S. Department of Justice, 950 Pennsylvania Avenue, N.W.,
Washington, D.C. 20530-0001.
Respectfully submitted by:
Robertson, Anschutz, Schneid, Crane & Partners, PLLC
Attorney for Plaintiff
6409 Congress Avenue, Suite 100
Boca Raton, Florida 33487
Telephone: 561-241-6901
Fax: 561-997-6909
Service e-mail: flmail@raslg.com
/s/ Wendy Manswell
Wendy Manswell, Esq.,
FL Bar No. 12027
Email: wmanswell@raslg.com
PAGE 4
24-206120
a
ADJUSTABLE RATE NOTE
(HOME EQUITY CONVERSION)
STATE OF FLORIDA
August 19, 2019
PROPERTY ADDRESS: WHA Case Number:
Loan Ne
211 NW 49th Ave MIN Nomber;]
Miami, FL 33126
MIAMI-DADE COUNTY
1 DEFINITIONS
“Allonge” means any Shared Appreciation Allonge executed by the Borrower 8s more fully described in Paragraph 12
“Borrower” means each person signing at the end of this Note. The tean docs not inchude his or her successors or assigns,
“Change Date” means each date on which the Interest
rate could changs,
“Current Index” means the most recent Index figure available thirty (30) days before the Chango Date,
‘Eligible Non-Borrowing Spause” means = Spouso who meets, and continues to meet, the Qualifying,
Attributes requirements established by the Commissioner that the Non-Borrowing Spouse must satisfy In order to be
eligibte
for deferral of tho duc and payable states,
‘Tndex" means the One-Year London Intorbank Offered Rete (LIBOR") es mado available in the "Money Rates” section
of the Wall Street Journal rounded to three digits to the right of the deciraal paint. The Current Index means the most
recent Index figure available 30 days before the Change Date, and if the day that is 30 days before tho Change Date Is not
4 Sunday or Monday and not the first business day of the week, the Current Index ill be the Index avallable
the first
businessday of that week thet the Wall Street Joumel ts pablished, If tho day that js 30 days before the Change Date is a
‘Sunday or Monday and not the Sirst business day of the week, the Current Iadex will be tho Index avallable the first
business
day of the Immediately prior week that the Wall Sireet Journal is published.
“Ineligible Non-Borrowing Spouse” means a Non-Borrowing Spouse who docs not mcet the Qualifying Attributes
requicements established by the Conaalssionor the Non-Borrowing Spouse must satisfy in order to be eligible for
deferral of the duc and payablo status,
“Lender” means The Money House, Ine. and its spocesyors
and assigns.
“Loan Agreement” means the Home Equity Conversion Mortgage Adjustable Rato Loan Agreement dated August 19,
2019 by and between the Borrower and Lender.
“Non-Horrowing Spouso” means the spouse, N/A, ns determined by the law of the state In which the spouse, N/A, and
Borrower, N/A, reside or the state of celebratloa, of the HECM Borrower, NWA, af the time of closing and who is not a
Borrower.
“Property” means Borrower's property idoatlfied tn tha Security Instramont.
‘Property Address” means the address provided above. .
“Qualifying Attributes" means those requirements established by the Commlsstoner that the Non-Borrowing Spouse must
satisfy in order to be eligible for defecral of the due and payable stetus,
&
“Commissioner” means tho Commissioner of Housing end Urbea Development or his or her authorized representatives,
“Scourlty Instrument means the mortgage, deed of trast, security deed or other security Instrument
which fs signed by
Borrower together with the Loan Agrecmeat and which secures the amounts advanced under this Note,
BORROWER'S PROMISE TO PAY; INTEREST
Ia return for amounts to be advanced by Lender up to a wazkmum princlgal amount of Five Hundred Twenty-Five
‘Thousand and 00/100 Dollars (U.S. $525,000.00), to of for the benefit of Borrower under the terms of a Home Equity
Loan Agreement dated Angust 19, 2019 ("Loan Agreement), Borrower promises to pay to the order of
Lender a principal smount equal to the sum of all Loan Advances mage under the Loan Agreement with interest, All
amounts advanced by Lender, plus Interest, if not pald eatlied, aco duo and payable on February 6, 2093. Interest
will be
charged on unpaid priuelpal at the rate of Four and 363/2000's percent (4.363%) per year until the full amountof
’
‘Tho Reverse Montenge: ‘Loan Originator: Hernando |
‘Company = NOLS #: 1325518 ‘Loam Originator
NMLS #: 368994
Florida 1 Hote (Adjustoble) Page loft Revised 09192017
Composite Exhibit."A"
principal has been paid. The interest rete may change in accordance with Paragraph 5 of this Note, Accrued interest shall
be addedto the Principal Balance as a Loan Advance at tho end of cach nonth end shail likewise thereafter bear Interest,
‘The interest rate required by this Paragraph 2 and Paragraph 5 of this Note is the rate of interest Borrower will
, Payon the outstanding balance both before and after this Nate becomes due and payable as described in Paragraph
Tof this Note, until repayment in fall is made,
3. PROMISETO PAYSECURED
Borrower's promise
to pay is necured by the Security Instrument. The Security Instrument protects the Lender from losses
which might result if Borrower defaults under this
4, MANNER OF PAYMENT
(A) Time. Borrower shall pay all outstanding ‘and accrued interest to Leader upon receipt of a notice by Lender
requiring immediate payment in full, es provided in Paragreph 7 of this Note.
®) Place, Payment shall be mado at 875k Commodity Circle, Sulte 17 , Orlando, FL. 32819 or any such other place as
Lender may designate In writing by noties ta Borrower,
Sf Borrower
shall have no personal for payment
of the debt, Lender
shall enforce the
debt only through sale of the Property, If this Note is assigned to the Commissioner, the Borrower
shall not be liable for
uny difference between the mortgage to Lenderand the outstanding indebtedness, Including,
necrued Interest, owed by Borrower at the time of the assignment.
5. INTEREST RATE CHANGES:
The Interest role may change on the first dey of September, 2020 and on that day of each
succeeding year, “Change Date" means each date on which the interest rate could change.
Begtnning with the flrst Change Dato, the interost rete will be based on an Index chosen by the Borrower,
If the Index {ax defined above) fs no longer mvallsbie, Lender will use es a new Index any Index prescribed by the
‘Commissioner, Lender will give Borrower notice of the new Indax.
Before each Change Dato, Lender will catculate a new Interest rate by adding,
ornate sts pecenbge polnts (2.375%) to the Current Index. Subject to the limits staled tn Parsgraph 5(D) of this
Note, this amount
will be the new kiterest rato unt the next Change Date,
) i ‘The Interest rato will never buccease or decrease by more than two
percentage points (2.0%) on any single Change Date.The interest rete will never be more than five percentage points
(3.0%) higher or lower than the initial interest rate stated In Paragraph 2 of the Note,
© Notlco
of Changes, Lender will give notice to Borrower of any change fn the interest rate. The notice must be given
at least 25 days before tho now inlecest sate takes effect, and west set forth (I) the dete of the notice, (if) the Chango Dato,
Gil) the ofd interest rate, (iv) the mow interest rte, (v} the Curvent Endex and the date it was published, (vi) the methodof
-celculating
the adjusted interest rate, and (vil) any other informaation which may be required by law from time
to time,
A now Interest rate calculated [a accordance with Paragraphs 5(C) and 5(D) of this Note
will become effective on the Change Dato, unless the Change Date occurs less than 25 days after Lender has given the
required notice, If the interest rate calenlated In accordance with Parsgraphs 5(C) and 5(D) of this Note decreased, but
Lender failed to give tlmely notice of the decsense and appiled a higher rate than the rate which should have been statedIn
‘a timely notice, then Lender shall recalculate the Principal Balance owed under this Note so it does not reflect any
excessive Interest,
6. BORROWER'S RIGHT TO PREPAY
A Borrower has the right to pay the debt ovidencod by thls Note, in whole or in pert, without charge or penalty. Any
‘amount of debt prepald will first be applied to reduce the Principal Batance of the Second Note described In Paragraph 1)
of this Note and then to reduce the Principal
Balance of this Note,
All prepayments of the Principal Balance shall be applied by Lender 9s fullews:
lest, to that portion of the Principal Balance representing agerogate payments for mortgaze insurance premiums;
‘Second, to that portion of the Principal Balanco representing agercgato payments for servicing foes;
Third, to that portion of tho Principal Balance representing accrued Interest daa under the Note;
Fourth, to the remalning portion of the Principal Balance,
A Borrower
may specify whether a prepayment fs to be credited to that portion of the Principal Balance representing
‘or the line of credit. If Borrower does not deslgaate which portion of the Principal Balance 1s to bo
eel Leesa ely oy pl poppet an exc on orto rte ny in of eel. Any pra
The! ‘Lom Originstor Hernando
‘Company = NLS #1325318 inaa Oigoo NOMLS B SA554
Florida «1 Note (Adjosiaia) Pagezgft Revised OO/1972017
payments will ba made available to Borrowerby bacrcesing
the amount of Borrower's monthly paynients and/or increasing,
the amount available to Borrower for Loan Advances under a linc of credit.
7. IMMEDIATE PAYMENT IN FULL
¢
9 as provided in paragraph 7(A)(N), Lender may ‘immediate payment in full of all outstanding
Ipnt and accrued Interest if a Borrower dies snd the Propesty Is not the Principat Rosidence of at least one
surviving Borrower,
(ii) Deferral of Due and Payable Status, Lander may not require immediate payment in full of all outstanding
principal and accrued
od terest» Non Borvovsng Spouse s Identified ia this Note qualifies as an Eligible Non-
Borrowing conditions
are, end continue to be, met:
a, Such Bligible Non-Berrowing Spouse remained the spouso af the Borrower, identified in this Note, for the
duration
of the Borrower's
a ‘Such
uch fe Non-Borrowing Spouse has occupled, and continues to occupy, as [his/her] Principal.
©. Such
fo osss/sos ne tl coon er ear Fightto remain
in the Property;
d. All other obligations of the Borrower under this Note, the Loan Agreeanont and tho Security Instramont
continue to be satlsfled; and
@, This Note is not eligible to be called due and payable for any other reason,
‘This sub-paragraph (II) Is Exsppliceble o null and void If an Bligible Non-Borrowing Spouse ts or becomes an
Ineligible ng ‘at any timo. Further, during a deferral of the due and payable status, should any of
the conditions for deferral cease to be met such » deferral cease and the Note will become
Immediately due and payable in accordance vith the provisions of 7(AY() of thls Note,
{B) Sale. Lender may require immediate payment fm full of all and accrued Interest if a Borrower
conveys all of his or her title to the Property and no other Borrower retains title to the Property In fee simple or on a.
leasehold interest as set forth in 24 CFR 206A5(p). A defteral of duo ard payable status js not permitted when
a Lender
requires immediate payment under
this paragraph.
(C)Interest,OtheruponGrounds,
approval
roquire immediate payment in full of all outstanding principal and accrued
of the Commissioner, If;
(i). The Property ceases to be the Principal Residence of a Borrower fac reasons other than death and the Property is
‘not the Principal Residence of at least one other Bowrower;
(i) For a period of longer than twelve (12) consecutive months, & Borrower falls ta occupy tha Property because of
physical or mental illness and the Property Is not the Principal Residence of at feast one other Borrower; or
(lil) An obligation of the Borrower under the Security Instrument is not performed,
AA doferral of duo and payabte status Is not permitted whea a Lender requkes frumediato payment in full under poragraph
© “WLender fas eoqaked lomnedite payment infil, as described sbov, the debt
cfr tanh he Fopry ay ade co end ep nding eae nd city ye,
associated with enforcement of this Note to the extent not prohibited by applicable law, Such fees and costs shall bear
Interest from the date of disbursement at the same rate 8s tho principal of this Noto,
(@) Trusts, Conveyance of a Borrower's Interest in the Property to a trust which meets the requirements of the
Commissionor, or conveyance of a trust's Interest in the Property to a Borrower, shall not be considered a conveyance for
porposes of this Paragraph. A trust shall not be considered an occupant or be considered as having a Principal Residence:
for purposes of thi
WAIVERS:
Borrower waives the rights of presentment and notles of dishonor, "Presentment means the right to require Lender to
demand payment of umounts duc. "Notice of dishonor” means the right to requiro Lender to give olice to other persons
that amounts dus have not becn paid.
GIVING OF NOTICES
Unless applicable law requires a different method, any natice thet maust bo given to Borrower under this Note will bo given
by dellvering itor by malting it by fst class mall to Borower at the Property Address above or at a different address if
Borrower
has given Lender « notice of Borrowes's
different:
Any notice 1o a Non-Borro Spouse provided for under this Noto will be given by delivering it or by first class mai
sms epitie eguet use of another method. The notice shall be directed to the Property Address.
‘Tha Reverse! ‘Loan Originator:
Hernando Manzano
‘Company «NMLS# ee” ‘Losn Originator
NMLS #: 368994
Florida» 1° Nota (Adjustable) Page 3oft Revised 091912017
Any notice that must be given to Lender under thls Note will be given by first class snail to Lender at the address stated in
Paragraph 4(B)
or at a different address if Borrower Ix glvea a notice of that differcat
10, OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Noto, cach person Is fully obligated to keep all of the promises
made in this Note,
‘Lender may enforce Its rights under this Note only through sale of the Propesty.
.
11, RELATIONSHIP TO SECOND NOTE:
Because Borrower will be required to repay amounts whick the Commissioner may mako to or on
behalf of Borrower pursuant to Section 255(XtMA) of the Notional Housleg Act and the Loan Agreement, the
‘Commissloner
has required Borrower to grant a Second Note to the Conmulssioner.
Payments made by the Commissioner shalt not be Inohided
the debt due under
this Note untess:
@_ This Note is assigned to the Commissioner;or
(li) The Commissioner accepts relmbursensents by the Lender for all payments made by the Commissioner,
If the clrcumstances described in (0) or (Hi) oceur, then all payments made by the Commissioner, inchiding Interest
on the
payments, shalt be Included in the dobt.
(C) Borrower.
Effect on Where there is no assignment or reloibucsement as described In (B)(i) or (1, and the
Commissioner makes payments to Borrower, then Borrower shall not:
()_ Be required to pay amounts owed under this Note until the Commissioner has required payment in full of all
outstanding. ‘and scerued frterest under ths Second Noto held by the Commissioner, notwithstanding
anything to the contrary In Paragraph7 of this Note; or
(Il) Be obligated to pay Interest or shared appreciation under this Note at eny time, whether accrued before or after
the payments by the Commissiones, and whether or not accrued Interest es been Included in the Principal Balanceof
this Note, notwithstanding
snything to the contrary ia Paragraphs 2 oF 5 of thie Note or any Allonge to this Nota,
12, THIRD-PARTY BENEFICIARY
Except as ct forth In 7(A)(l) and only for an Eligible Non-Borrowing, in this document, this Note does not and is
not Intended to confer any tights or remedies wpon any person other than the parties. Borrower agrees that it {s not a third-
party beneficlary to the Contract of Insurance betweca HUD and Lender,
43, SUCCESSORS AND ASSIGNS
‘Notwithstanding anything to the contrary herein, upon the death of the lest surviving Borrower, tho Borrower's successors
and assigns will be bound to pocforn Bower's sliation ele ts Woke
14. CAPITALIZED TERMS.
‘Copltatized terms not defined in this Note shall have the meanings ascribed to them in the Loan Agreement,
18, DOCUMENTARY TAX
‘The state documentary tax due on this Noto fas been paid on the mortgage securing this indeblednoss
; ‘ re ne lote,
—s/t
BY 5]
Giga ¥ Vaifis (Borrower)
‘The! Mortgage ‘Loan Originator: Hernando
Company
« NMLS H; 1325518 Loan Orlghntior
NMLS fi: 368994
Florida
= 1 Note (Adjustable) Pogeteft Revised 091912017
toe
ALLONGE
—_=
LOAN NUMBER: 7
FHA CASE NUMBER: a
BORROWER(S): Olga
F Valdes
PROPERTY ADDRESS: 211 NW 49th Ave
Miami, FL 33126
NOTE/LOAN AMOUNT: $525,000.00
NOTE/LOAN DATE: August 19, 2019
PAY TO THE ORDER OF;
Reverse Mortgage Funding LLC
WITHOUT RECOURSE,
COMPANY NAME: The Heuse, Inc.
SIGNATURE:
NAME: Tammi Clarke
TITLE: AVP - Partner Services Director
‘The Reverse Mortgage
Croup LLC Lome Originator: Hemendo Menzano
Company
= NMLS #; 1325518 ‘Loan Originstor
NMLS &: 368994
Alloge Poet € Bay Doss, LC 02 2014
ORIGINAL
ALLONGE
Loan Number: [x
BORROWER(S): Olga F Valdes
ADDRESS: 211 NW 49th Ave
Miami, FL 33126
AMOUNT: $525,000.00
Dated: 08/19/19
Pay to the orderof
WithoutR
LLC
‘By.
Jay Skinner, AVP, in Fact for
Reverse Mortgage ing LLC
GFN: 20190599644 BOOK 31620 PAGE 3499
DATE:09/25/2019 09:43:33 AM
MTG DOC 1,837.60
INTANGIBLE 1,050.00
HARVEY RUVIN, CLERK OF COURT, MIA-DADE CTY
Requested by and retumed to:
RECORDED DOCUMENTS DEPARTMENT
8751 Commodity Circle, Suite 17
Orlando, Fl 32819
Prepared by; Ileana Garcia
8751 Commodity Circle, Sulte 17
Orlando, FL 32819
FHA CaseNi jumber:
Loan Numbers
State of Florida
— “iN:
ADJUSTABLE RATE MORTGAGE
HOME EQUITY CONVERSION MORTGAGE
‘THIS MORTGAGE SECURES A REVERSE MORTGAGE LOAN
THIS MORTGAGE ("Security Instrument") is given on August 19, 2019, The mortgagor is Olga F Valdes, as toa
Ife estate and Ana V. Cairo and Liliana Valdes,as remalnderman, whose address is 211 NW 49th Ave, Mlami,
FL 33126 ("Borrower"), The term “Borrower” does not inolude the Borrower's successors and assigns, This
Scourlty Instrument Is given to The Money House, Inc, which is organized and existing under the laws of
Commonwealth of Puerto Rico, and whose address is 8751 Commodity Circle, Sulte 17 , Orlando, FL 32819
("Lender"), The mortgagee under this Security Instrument is Mortgage Electronic Registration Systems, Inc.
(“MERS") (solely as nominee for Lender and Lender's successors and assigns) and the successors and assignsof
MERS. MERS is a separate corporation that Is acting solely as a nominee for Lender and Lender's successors and
assigns, MERSis organized and existing under the laws of Delaware, and has an address and telephone numberof
P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679.MERS. Borrower has agreed to repay to Lender amounts which
Lender is obligated to advance, including future advances, under the terms of a Home Equity Conversion Mortgage
Adjustable Rate Loan Agreement dated the same date as this Seourity Instrument (“Loan Agreement"), Tho
agreement to repay is evidenced by Borrower's Note dated the same date as this Security Instrument ("Note"). This
Seourity Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, including all future
advances, with interest at a rate subject to adjustment, and all renewals, extensions and modifications of the Note, up
to a maximum principal amount of Five Hundred Twenty-Five Thousand and 00/100 Dollars (U.S,$525,000.00);
{b) the payment of all other sums, with interest, advanced under Paragraph S to protect the security of this Security
Tustrament or otherwise due under the terms of this Security Instrument; and (c) the performance of Borrower's
covenants and agreements under this Security Instrument and the Note and Loan Agreement, The full debt,
‘The Reverse MortgageGroup LLC Loan Originator; Hemando Manzano
Company - NMLS #; 1325518 Loan Originator NMLS #: 368994
Florida - !* MBRS Security Instrument (Adjustable) Page
| of 12 Revised 09/19/2017
Composite Exhibit "A"
CFN: 20190599644 BOOK 31620 PAGE 3500
inoluding all amounts desoribed in (a), (b), and (0) above, if not pald earlier, is due and payable on February 6,
2093. For this purpose, Borrower does hereby mortgage, grant and convey to Lender, the following described
property located in MIAMI-DADE County, Florida, which has the address oft
211 NW 49th Ave, Miami, FL 33126, and is described more filly on Exhibit A attached to and hereby incorporated
Into this Mortgage (“Property Address”),
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights,
appurtenances, and fixtures now or hereafter a part of the property, All replacements and additions shall also be
covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
BORROWER COVENANTS that Borrower is lawfully selsed of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property Is unencumbered. Borrower warrants and will defend
generally the title to the Property against all claims and demands, subject to any encumbrances of record,
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
linaited variations by jurisdiction to constitute a uniform security Instrument covering real property.
UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows:
1 Payment of Principal and Interest. Borrower shall pay whon duc the principal of and Interest on, the debt
evidenced by the Note.
2 Payment of Property Charges. Borrower shall pay all property charges consisting of property taxes, hazard
insurance premiums, flood insurance premiums, ground rents, condominium fees, planned unit development fees,
homeowner’s assoolation fees, and any other special assessments that may be required by local or state law in a
timely manner, and shall provide evidence of payment to Lender, unless Lender pays property charges by
withholding funds from monthly payments due to the Borrower or by charging such payments to a Ilne of credit as
provided for in the Loan Agrooment,
3. Fire, Flood and Other Hazard Insurance, Borrower shall insure all improvements on the Property, whether
now in existence or subsequently erected, against any hazards, casualties, and contingenoles, including but not
limited to fire and flood for which Lender requires insurance. Such insurance shell be maintained in the amounts and
for the periods that Lender requires, Lender has the discretion to inorease or decrease the amount of any Insurance
required at any time provided the amount is equal to or greater than any minimum required by the Commissioner of
Housing and Urban Development (“Commissioner”), Whether or not Lender imposes a flood insurance requirement,
Borrower shall at a minimum insure all improvements on the Property, whether now in existence or subsequently
erected, against loss by floods to the extent required by the Commisstoner. If the Lender imposes insurance
requirements, all insurance shall be carried with companies approved by Lender, and the insurance policies and any
renewals shall be held by Lender and shall include loss payable clauses in favor of and in a form acceptable to
Lender,
In the event of toss, Borrower shall give Lender immediate notice by mall. Lender may make proofof loss if not
made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make
payment for such loss to Lender, Instead of to Borrower and Lender jointly. Insurance proceeds shall be applicd to
‘The Reverse Mortgage Group LLC ‘Loan Originator: Hemando Manzano
‘Company - NMLS#; 1325518 Loan Originator NMLS #; 368994
Florida - 1" MERS Security Instrument (Adjustable) Page 2of12 Revised 09/19/2017
CFN: 20190599644 BOOK 31620 PAGE 3501
restoration or repair of the damaged Property, if the restoration or repair is economically feasible and Lender's
security is not lessoned, If the restoration or repair is not economically feasible or Lender's seourlty would be
lessened, the insurance proceeds shall be applied first to the reduction of any indebtedness under a Second Note and
Second Security Instrument held by the Commissioner on the Property and then to the reduction of the indebtedness
under the Note and this Security Instrument (as described in Paragraph 15) held by the Commissioner on the
Property and then to the reduction of the indebtedness under the Note and this Security Instrument, Any excess
insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security
Instrument shall be paid to the entity logally entitled thereto.
Yn the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the
indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser,
A. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds, Borrower shall occupy, establish, and use the Property as Borrower's Principal Residence after the
execution of this Security Instrument and Borrower (or at feast one Borrower, if initially more than one person are
Borrowers) shall continue to occupy the Property as Borrower's Principal Residence for the term of the Security
Instrument.
Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to
deteriorate, reasonable wear and tear excepted. Borrower shall also be in default if Borrower, during the loan
application process, gave materially false or inacowate Information or statements to Lender (or failed to provide
Lender with any material information) in connection with the Loan evidenced by the Note, including, but not limited
to, representations concerning Borrower's occupancy of the Property as a Principal Residence, If this Security
Instrument is on a leasehold, Borrower shall comply with the provisions of the lease, If Borrower acquires fee title
to the Property, the leasehold and fee title shall not be merged unless Lender agrees to merger In writing,
5. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all
governmental or municipal charges, fines and impositions that are not included in Paragraph 2, Borrower shall pay
these obligations on time directly to the entity which is owed the payment, If fallure to pay would adversely affect
Lender's interest in the Property, upon Lender's request Borrower shall promptly fumish to Lender recelpts
evidencing these payments. Borrower shall promptly discharge any lien which has priority over this Security
Instrument in the manner provided in Paragraph 14(C).
If Borrower fails to make these payments or pay the property charges required by Paragraph 2, or fails to perform
any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may
significantly affect Lender's rights in the Property (such as a proceeding in bankruptoy, for condemnation or to
enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property
and Lender's rights in the Property, including payment of property taxes, hazard insurance and other items
mentioned in Paragraph 2.
To protect Lender's security in the Property, Lender shafl advance and charge to Borrower all amounts due to the
Commissioner for the Mortgage Insurance Premium ("MIP") as defined in the Loan Agreement as well as all sums.
due to the loan servicer for servicing activities ("Servicing Fee") as defined in the Loan Agreement. Any amounts
disbursed by Lender under this Paragraph shall become an additional debt of Borrower as provided for in the Loan
Agreement and shall be secured by this Security Instrument.
‘The Reverse Mortgage Group LLC ‘Loan Originator; Hernando Manzano
Company
« NMLS #: 1325518 ‘Loan Originator NMLS #: 368994
Florida - #* MBRS Security Instrumens (Adjustable) Page
3 of 2 Revised ae
CFN: 20190599644 BOOK 31620 PAGE 3502
6. Inspection. Lender or its agent may enter on, inspect or make appraisals of the Property in a reasonable
manner and at reasonable times provided that Lender shall give the Borrower notice prior to any inspection or
appraisal specifying a purpose for the inspection or appraisal which must be related to Lender's interest in the
Property. If the Property is vacant or abandoned or the loan is in default, Lender may take reasonable action to
Protect and preserve such vacant or abandoned Property without notice to the Borrower.
7. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
any condemnation, or other taking of any part of the Property, or for conveyance in place of condemnation shall be
paid
to Lender, The proceeds shall be applied first to the reduction of the indebtedness under the Second Note and
Second Security Instrument (as described in Paragraph 15) held by the Commissioner on the Property, and then to
the reduction of the indebtedness under the Note and this Scourity Instrument. Any excess proceeds over an amount
jired to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity
legally entitled thereto.
8. Fees, Lender may collect fees and charges authorized by the Commissioner.
9. Non-Borrowing Spouse, Borrower, N/A, is married undor the laws of to N/A (“Non-Borrowing Spouse”),
who is not a Borrower under the terms of the “Note,”
“Loan Agreement” or this Security Instrument.
@ A Identified by the Borrower who meets, and
continues to meet, the Qualifying Attributes requirements established by the Commissioner that the Non-
Borrowing Spouse must satisfy in ordor to be eligible for the Deferral Period.
Ne A Non-Borrowing Spouse who doss not mest the Qualifying
Attributes requirements established by the Commissioner that tho Non-Borrowing Spouse must satisfy in order
to be eligible for the Deferral Period.
10. Grounds for Acceleration of Debt.
(A)
@) Except as provided in Paragraph 10(Aii), Lender may require immediate payment in full of all sums
secured by this Securlty Instrumont if a Borrower dies aud the Property is not the Principal Residence of at
least one surviving Borrower.
(li) Lender shall defer the Due and Payable requiromont under Paragraph 10(A)(j) above for any period of
time (“Deferral Pertod”) in which = identified in Paragraph 9 qualifies as an
Eligiblo Non-Borrowing Spouse and cortifics all of the following conditions are, and continus to be, met:
a Such Eligible Non-Borrowing Spouso remained the spouse of the Identified Borrower for the
duration of such Borrower's lifetime;
b Such Eligible Non-Borrowing Spouse has occupied, and continues to occupy, the Property as
[his/her] Principal Residence;
¢ Such Eligible Non-Borrowing Spouse has established legal ownership or other ongoing legal right
to remain in the Property;
d All other obligations of the Borrower undor the Noto, the Loan Agresment and this Security
‘The Reverse Mortgage Group LLC ‘Loan Originator: Hemando Manzano
‘Company - NMLS #: 1325518 Loan Originator NMLS #368994
Florida ~ I MERS Security instrument (Adjustable) Page
4 of 12 Revised OVD2017
CFN; 20190599644 BOOK 31620 PAGE 3503
Instrument continue to be satisfied; and
¢ The Note is not eligibleto be called due and payable for any other reason.
‘This sub-paragraph (ii) is inapplicable or null and void if an Eligible Non-Borrowing Spouse is or becomes
an Ineligible Non-Borrowing Spouse at any time. Further, during a deferral of the due and payable status,
should any of the conditions for deferral cease to be met such a deferral shall immedlately cease and the
Note will become immediately due and payable in accordance with the provisions of Paragraph 7 (A)(1) of
the Note,
(B) Du . Lender may require immediate payment in full of all sums secured by this
Security Instrument if all of a Borrower's title in the Property (or his or her beneficial Interest in a trust owning
all or part of the Property) is sold o
Preview
Filing # 200514603 E-Filed 06/13/2024 03:47:44 PM IN THE CIRCUIT COURT OF THE ELEVENTH JUDICIAL CIRCUIT IN AND FOR MIAMI- DADE COUNTY, FLORIDA. CIVIL DIVISION CARRINGTON MORTGAGE SERVICES LLC, Case No.: Plaintiff(s), Division: Vv JEANETTE C, RODRIGUEZ; UNKNOWN SPOUSE OF JEANETTE C. RODRIGUEZ; ANA V. CAIRO; LILIANA VALDES; UNITED STATES OF AMERICA, ACTING ON BEHALF OF THE COMMISSIONER OF HOUSING AND URBAN DEVELOPMENT, Defendant(s). COMPLAINT FOR FORECLOSURE Plaintiff, CARRINGTON MORTGAGE SERVICES LLC, sues Defendants, and alleges: MORTGAGE FORECLOSURE 1. This is an action to foreclose a reverse mortgage on real property located and situated in MIAMI-DADE County, Florida. Plaintiff is the holder of the note. On August 19, 2019, OLGA F, VALDES, DECEASED ("Borrowers") executed and delivered a Promissory Note ("Note"). On August 19, 2019, OLGA F. VALDES, DECEASED, ANA V. CAIRO and LILIANA VALDES (‘Original Mortgagor") executed and delivered a Mortgage ("Mortgage") securing the payment of the Note. The Mortgage was recorded on September 25, 2019 in Official Records Book 31620, Page 3499, of the Public Records of Miami-Dade County, Florida and mortgaged the property described in the mortgage then owned by and in possession of the mortgagor(s). Copies of the Adjustable Rate Note, and Home Equity Conversion Mortgage are attached hereto and incorporated herein as Composite Exhibit "A." PAGE 1 24-206120 On or about January 16, 2024, OLGA F. VALDES died, and the subject property is not the principal residence of any surviving borrower. Plaintiff declares the full amount to be due and payable pursuant to the note and mortgage. The property is now owned by Defendant(s), JEANETTE C. RODRIGUEZ. Plaintiff is due at least $196,344.69 in principal, plus future advances. All conditions precedent to the acceleration of the note and foreclosure of the mortgage have occurred or have been performed, waived or excused, Plaintiff has retained the law firm of Robertson, Anschutz, Schneid, Crane & Partners, PLLC, to represent them in this action and has agreed to pay them a reasonable fee and costs for their services, 10. The interests of each Defendant named herein are subject, subordinate, and inferior to the right, title, interest, and lien of Plaintiff's Mortgage. Il Any interest in the property inuring to the Defendant, UNITED STATES OF AMERICA, ACTING ON BEHALF OF THE COMMISSIONER OF HOUSING AND URBAN DEVELOPMENT, is subordinate and inferior to the lien of Plaintiff's mortgage, including, but not limited to, MORTGAGE recorded September 25, 2019, in Official Record Book 31620 at Page 3512 of the Public Records of Miami-Dade County, Florida. A copy is attached hereto as Exhibit "B". 12. Defendant, ANA V. CAIRO, may claim some right, title, or interest in the property herein sought to be foreclosed by virtue of EXECUTION OF MORTGAGE recorded on September 25, 2019 in Official Records Book 31620, Page 3499, of the Public Records of Miami-Dade County, Florida or some other unknown interest, the exact nature of which is unknown to PAGE 2 24-206120 Plaintiff and not a matter of public record. However, said interest, if any, is subordinate, junior, and inferior to the lien of Plaintiff's mortgage. 13 Defendant, LILIANA VALDES, may claim some right, title, or interest in the property herein sought to be foreclosed by virtue of EXECUTION OF MORTGAGE recorded on September 25, 2019 in Official Records Book 31620, Page 3499, of the Public Records of Miami-Dade County, Florida or some other unknown interest, the exact nature of which is unknown to Plaintiff and not a matter of public record. However, said interest, if any, is subordinate, junior, and inferior to the lien of Plaintiff's mortgage. 14. Defendant, UNKNOWN SPOUSE OF JEANETTE C. RODRIGUEZ, may claim some right, title, or interest in the property herein sought to be foreclosed by virtue of homestead rights, possession or some other unknown interest, the exact nature of which is unknown to Plaintiff and not a matter of public record. However, said interest, if any, is subordinate, junior, and inferior to the lien of Plaintiffs mortgage. WHEREFORE, Plaintiff, CARRINGTON MORTGAGE SERVICES LLC, prays: a) This Court take jurisdiction of this cause, the subject matter and the parties hereto; b) The court determine the amounts due to Plaintiff from Defendants and that such amounts be declared a lien upon the subject property; °) The Court enter a judgment foreclosing the mortgage lien, and, upon the Defendants’ failure to pay the amounts due to Plaintiff by a date certain, that this Court order that said real property be sold in accordance with the law and practice of this Court so that Plaintiff's mortgage lien is satisfied; 4d) The Court determine that the Plaintiff's interest is superior to the rights, title and interests of the Defendants named herein or any other person or party claiming by or through or PAGE 3 24-206120 under them since the filing of the Lis Pendens and that the rights, title and interests of said Defendants be absolutely barred and foreclosed; ¢) This Court retain jurisdiction of this action to make any and all further orders and judgments as justice requires, including but not limited to, the issuance of a writ of possession. VERIFICATION OF COMPLAINT. Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein are true and correct to the best of my knowledge and belief. Executed on this 7 Day of June 2024. COMPU-LINK CORPORATION, DBA CELINK, AS ATTORNEY-IN-FACT FOR CARRINGTON MORTGAGE SERVICES LLC Bi Print Name: Kinsey Bartlett Title: Assistant Secretary I HEREBY CERTIFY that a true and correct copy of the foregoing Complaint and copy of the Summons to the United States of America has been furnished by Certified Mail, Return Receipt Requested this _13 day of June, 2024 __ to the Attorney General of the United States of America, U.S. Department of Justice, 950 Pennsylvania Avenue, N.W., Washington, D.C. 20530-0001. Respectfully submitted by: Robertson, Anschutz, Schneid, Crane & Partners, PLLC Attorney for Plaintiff 6409 Congress Avenue, Suite 100 Boca Raton, Florida 33487 Telephone: 561-241-6901 Fax: 561-997-6909 Service e-mail: flmail@raslg.com /s/ Wendy Manswell Wendy Manswell, Esq., FL Bar No. 12027 Email: wmanswell@raslg.com PAGE 4 24-206120 a ADJUSTABLE RATE NOTE (HOME EQUITY CONVERSION) STATE OF FLORIDA August 19, 2019 PROPERTY ADDRESS: WHA Case Number: Loan Ne 211 NW 49th Ave MIN Nomber;] Miami, FL 33126 MIAMI-DADE COUNTY 1 DEFINITIONS “Allonge” means any Shared Appreciation Allonge executed by the Borrower 8s more fully described in Paragraph 12 “Borrower” means each person signing at the end of this Note. The tean docs not inchude his or her successors or assigns, “Change Date” means each date on which the Interest rate could changs, “Current Index” means the most recent Index figure available thirty (30) days before the Chango Date, ‘Eligible Non-Borrowing Spause” means = Spouso who meets, and continues to meet, the Qualifying, Attributes requirements established by the Commissioner that the Non-Borrowing Spouse must satisfy In order to be eligibte for deferral of tho duc and payable states, ‘Tndex" means the One-Year London Intorbank Offered Rete (LIBOR") es mado available in the "Money Rates” section of the Wall Street Journal rounded to three digits to the right of the deciraal paint. The Current Index means the most recent Index figure available 30 days before the Change Date, and if the day that is 30 days before tho Change Date Is not 4 Sunday or Monday and not the first business day of the week, the Current Index ill be the Index avallable the first businessday of that week thet the Wall Street Joumel ts pablished, If tho day that js 30 days before the Change Date is a ‘Sunday or Monday and not the Sirst business day of the week, the Current Iadex will be tho Index avallable the first business day of the Immediately prior week that the Wall Sireet Journal is published. “Ineligible Non-Borrowing Spouse” means a Non-Borrowing Spouse who docs not mcet the Qualifying Attributes requicements established by the Conaalssionor the Non-Borrowing Spouse must satisfy in order to be eligible for deferral of the duc and payablo status, “Lender” means The Money House, Ine. and its spocesyors and assigns. “Loan Agreement” means the Home Equity Conversion Mortgage Adjustable Rato Loan Agreement dated August 19, 2019 by and between the Borrower and Lender. “Non-Horrowing Spouso” means the spouse, N/A, ns determined by the law of the state In which the spouse, N/A, and Borrower, N/A, reside or the state of celebratloa, of the HECM Borrower, NWA, af the time of closing and who is not a Borrower. “Property” means Borrower's property idoatlfied tn tha Security Instramont. ‘Property Address” means the address provided above. . “Qualifying Attributes" means those requirements established by the Commlsstoner that the Non-Borrowing Spouse must satisfy in order to be eligible for defecral of the due and payable stetus, & “Commissioner” means tho Commissioner of Housing end Urbea Development or his or her authorized representatives, “Scourlty Instrument means the mortgage, deed of trast, security deed or other security Instrument which fs signed by Borrower together with the Loan Agrecmeat and which secures the amounts advanced under this Note, BORROWER'S PROMISE TO PAY; INTEREST Ia return for amounts to be advanced by Lender up to a wazkmum princlgal amount of Five Hundred Twenty-Five ‘Thousand and 00/100 Dollars (U.S. $525,000.00), to of for the benefit of Borrower under the terms of a Home Equity Loan Agreement dated Angust 19, 2019 ("Loan Agreement), Borrower promises to pay to the order of Lender a principal smount equal to the sum of all Loan Advances mage under the Loan Agreement with interest, All amounts advanced by Lender, plus Interest, if not pald eatlied, aco duo and payable on February 6, 2093. Interest will be charged on unpaid priuelpal at the rate of Four and 363/2000's percent (4.363%) per year until the full amountof ’ ‘Tho Reverse Montenge: ‘Loan Originator: Hernando | ‘Company = NOLS #: 1325518 ‘Loam Originator NMLS #: 368994 Florida 1 Hote (Adjustoble) Page loft Revised 09192017 Composite Exhibit."A" principal has been paid. The interest rete may change in accordance with Paragraph 5 of this Note, Accrued interest shall be addedto the Principal Balance as a Loan Advance at tho end of cach nonth end shail likewise thereafter bear Interest, ‘The interest rate required by this Paragraph 2 and Paragraph 5 of this Note is the rate of interest Borrower will , Payon the outstanding balance both before and after this Nate becomes due and payable as described in Paragraph Tof this Note, until repayment in fall is made, 3. PROMISETO PAYSECURED Borrower's promise to pay is necured by the Security Instrument. The Security Instrument protects the Lender from losses which might result if Borrower defaults under this 4, MANNER OF PAYMENT (A) Time. Borrower shall pay all outstanding ‘and accrued interest to Leader upon receipt of a notice by Lender requiring immediate payment in full, es provided in Paragreph 7 of this Note. ®) Place, Payment shall be mado at 875k Commodity Circle, Sulte 17 , Orlando, FL. 32819 or any such other place as Lender may designate In writing by noties ta Borrower, Sf Borrower shall have no personal for payment of the debt, Lender shall enforce the debt only through sale of the Property, If this Note is assigned to the Commissioner, the Borrower shall not be liable for uny difference between the mortgage to Lenderand the outstanding indebtedness, Including, necrued Interest, owed by Borrower at the time of the assignment. 5. INTEREST RATE CHANGES: The Interest role may change on the first dey of September, 2020 and on that day of each succeeding year, “Change Date" means each date on which the interest rate could change. Begtnning with the flrst Change Dato, the interost rete will be based on an Index chosen by the Borrower, If the Index {ax defined above) fs no longer mvallsbie, Lender will use es a new Index any Index prescribed by the ‘Commissioner, Lender will give Borrower notice of the new Indax. Before each Change Dato, Lender will catculate a new Interest rate by adding, ornate sts pecenbge polnts (2.375%) to the Current Index. Subject to the limits staled tn Parsgraph 5(D) of this Note, this amount will be the new kiterest rato unt the next Change Date, ) i ‘The Interest rato will never buccease or decrease by more than two percentage points (2.0%) on any single Change Date.The interest rete will never be more than five percentage points (3.0%) higher or lower than the initial interest rate stated In Paragraph 2 of the Note, © Notlco of Changes, Lender will give notice to Borrower of any change fn the interest rate. The notice must be given at least 25 days before tho now inlecest sate takes effect, and west set forth (I) the dete of the notice, (if) the Chango Dato, Gil) the ofd interest rate, (iv) the mow interest rte, (v} the Curvent Endex and the date it was published, (vi) the methodof -celculating the adjusted interest rate, and (vil) any other informaation which may be required by law from time to time, A now Interest rate calculated [a accordance with Paragraphs 5(C) and 5(D) of this Note will become effective on the Change Dato, unless the Change Date occurs less than 25 days after Lender has given the required notice, If the interest rate calenlated In accordance with Parsgraphs 5(C) and 5(D) of this Note decreased, but Lender failed to give tlmely notice of the decsense and appiled a higher rate than the rate which should have been statedIn ‘a timely notice, then Lender shall recalculate the Principal Balance owed under this Note so it does not reflect any excessive Interest, 6. BORROWER'S RIGHT TO PREPAY A Borrower has the right to pay the debt ovidencod by thls Note, in whole or in pert, without charge or penalty. Any ‘amount of debt prepald will first be applied to reduce the Principal Batance of the Second Note described In Paragraph 1) of this Note and then to reduce the Principal Balance of this Note, All prepayments of the Principal Balance shall be applied by Lender 9s fullews: lest, to that portion of the Principal Balance representing agerogate payments for mortgaze insurance premiums; ‘Second, to that portion of the Principal Balanco representing agercgato payments for servicing foes; Third, to that portion of tho Principal Balance representing accrued Interest daa under the Note; Fourth, to the remalning portion of the Principal Balance, A Borrower may specify whether a prepayment fs to be credited to that portion of the Principal Balance representing ‘or the line of credit. If Borrower does not deslgaate which portion of the Principal Balance 1s to bo eel Leesa ely oy pl poppet an exc on orto rte ny in of eel. Any pra The! ‘Lom Originstor Hernando ‘Company = NLS #1325318 inaa Oigoo NOMLS B SA554 Florida «1 Note (Adjosiaia) Pagezgft Revised OO/1972017 payments will ba made available to Borrowerby bacrcesing the amount of Borrower's monthly paynients and/or increasing, the amount available to Borrower for Loan Advances under a linc of credit. 7. IMMEDIATE PAYMENT IN FULL ¢ 9 as provided in paragraph 7(A)(N), Lender may ‘immediate payment in full of all outstanding Ipnt and accrued Interest if a Borrower dies snd the Propesty Is not the Principat Rosidence of at least one surviving Borrower, (ii) Deferral of Due and Payable Status, Lander may not require immediate payment in full of all outstanding principal and accrued od terest» Non Borvovsng Spouse s Identified ia this Note qualifies as an Eligible Non- Borrowing conditions are, end continue to be, met: a, Such Bligible Non-Berrowing Spouse remained the spouso af the Borrower, identified in this Note, for the duration of the Borrower's a ‘Such uch fe Non-Borrowing Spouse has occupled, and continues to occupy, as [his/her] Principal. ©. Such fo osss/sos ne tl coon er ear Fightto remain in the Property; d. All other obligations of the Borrower under this Note, the Loan Agreeanont and tho Security Instramont continue to be satlsfled; and @, This Note is not eligible to be called due and payable for any other reason, ‘This sub-paragraph (II) Is Exsppliceble o null and void If an Bligible Non-Borrowing Spouse ts or becomes an Ineligible ng ‘at any timo. Further, during a deferral of the due and payable status, should any of the conditions for deferral cease to be met such » deferral cease and the Note will become Immediately due and payable in accordance vith the provisions of 7(AY() of thls Note, {B) Sale. Lender may require immediate payment fm full of all and accrued Interest if a Borrower conveys all of his or her title to the Property and no other Borrower retains title to the Property In fee simple or on a. leasehold interest as set forth in 24 CFR 206A5(p). A defteral of duo ard payable status js not permitted when a Lender requires immediate payment under this paragraph. (C)Interest,OtheruponGrounds, approval roquire immediate payment in full of all outstanding principal and accrued of the Commissioner, If; (i). The Property ceases to be the Principal Residence of a Borrower fac reasons other than death and the Property is ‘not the Principal Residence of at least one other Bowrower; (i) For a period of longer than twelve (12) consecutive months, & Borrower falls ta occupy tha Property because of physical or mental illness and the Property Is not the Principal Residence of at feast one other Borrower; or (lil) An obligation of the Borrower under the Security Instrument is not performed, AA doferral of duo and payabte status Is not permitted whea a Lender requkes frumediato payment in full under poragraph © “WLender fas eoqaked lomnedite payment infil, as described sbov, the debt cfr tanh he Fopry ay ade co end ep nding eae nd city ye, associated with enforcement of this Note to the extent not prohibited by applicable law, Such fees and costs shall bear Interest from the date of disbursement at the same rate 8s tho principal of this Noto, (@) Trusts, Conveyance of a Borrower's Interest in the Property to a trust which meets the requirements of the Commissionor, or conveyance of a trust's Interest in the Property to a Borrower, shall not be considered a conveyance for porposes of this Paragraph. A trust shall not be considered an occupant or be considered as having a Principal Residence: for purposes of thi WAIVERS: Borrower waives the rights of presentment and notles of dishonor, "Presentment means the right to require Lender to demand payment of umounts duc. "Notice of dishonor” means the right to requiro Lender to give olice to other persons that amounts dus have not becn paid. GIVING OF NOTICES Unless applicable law requires a different method, any natice thet maust bo given to Borrower under this Note will bo given by dellvering itor by malting it by fst class mall to Borower at the Property Address above or at a different address if Borrower has given Lender « notice of Borrowes's different: Any notice 1o a Non-Borro Spouse provided for under this Noto will be given by delivering it or by first class mai sms epitie eguet use of another method. The notice shall be directed to the Property Address. ‘Tha Reverse! ‘Loan Originator: Hernando Manzano ‘Company «NMLS# ee” ‘Losn Originator NMLS #: 368994 Florida» 1° Nota (Adjustable) Page 3oft Revised 091912017 Any notice that must be given to Lender under thls Note will be given by first class snail to Lender at the address stated in Paragraph 4(B) or at a different address if Borrower Ix glvea a notice of that differcat 10, OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Noto, cach person Is fully obligated to keep all of the promises made in this Note, ‘Lender may enforce Its rights under this Note only through sale of the Propesty. . 11, RELATIONSHIP TO SECOND NOTE: Because Borrower will be required to repay amounts whick the Commissioner may mako to or on behalf of Borrower pursuant to Section 255(XtMA) of the Notional Housleg Act and the Loan Agreement, the ‘Commissloner has required Borrower to grant a Second Note to the Conmulssioner. Payments made by the Commissioner shalt not be Inohided the debt due under this Note untess: @_ This Note is assigned to the Commissioner;or (li) The Commissioner accepts relmbursensents by the Lender for all payments made by the Commissioner, If the clrcumstances described in (0) or (Hi) oceur, then all payments made by the Commissioner, inchiding Interest on the payments, shalt be Included in the dobt. (C) Borrower. Effect on Where there is no assignment or reloibucsement as described In (B)(i) or (1, and the Commissioner makes payments to Borrower, then Borrower shall not: ()_ Be required to pay amounts owed under this Note until the Commissioner has required payment in full of all outstanding. ‘and scerued frterest under ths Second Noto held by the Commissioner, notwithstanding anything to the contrary In Paragraph7 of this Note; or (Il) Be obligated to pay Interest or shared appreciation under this Note at eny time, whether accrued before or after the payments by the Commissiones, and whether or not accrued Interest es been Included in the Principal Balanceof this Note, notwithstanding snything to the contrary ia Paragraphs 2 oF 5 of thie Note or any Allonge to this Nota, 12, THIRD-PARTY BENEFICIARY Except as ct forth In 7(A)(l) and only for an Eligible Non-Borrowing, in this document, this Note does not and is not Intended to confer any tights or remedies wpon any person other than the parties. Borrower agrees that it {s not a third- party beneficlary to the Contract of Insurance betweca HUD and Lender, 43, SUCCESSORS AND ASSIGNS ‘Notwithstanding anything to the contrary herein, upon the death of the lest surviving Borrower, tho Borrower's successors and assigns will be bound to pocforn Bower's sliation ele ts Woke 14. CAPITALIZED TERMS. ‘Copltatized terms not defined in this Note shall have the meanings ascribed to them in the Loan Agreement, 18, DOCUMENTARY TAX ‘The state documentary tax due on this Noto fas been paid on the mortgage securing this indeblednoss ; ‘ re ne lote, —s/t BY 5] Giga ¥ Vaifis (Borrower) ‘The! Mortgage ‘Loan Originator: Hernando Company « NMLS H; 1325518 Loan Orlghntior NMLS fi: 368994 Florida = 1 Note (Adjustable) Pogeteft Revised 091912017 toe ALLONGE —_= LOAN NUMBER: 7 FHA CASE NUMBER: a BORROWER(S): Olga F Valdes PROPERTY ADDRESS: 211 NW 49th Ave Miami, FL 33126 NOTE/LOAN AMOUNT: $525,000.00 NOTE/LOAN DATE: August 19, 2019 PAY TO THE ORDER OF; Reverse Mortgage Funding LLC WITHOUT RECOURSE, COMPANY NAME: The Heuse, Inc. SIGNATURE: NAME: Tammi Clarke TITLE: AVP - Partner Services Director ‘The Reverse Mortgage Croup LLC Lome Originator: Hemendo Menzano Company = NMLS #; 1325518 ‘Loan Originstor NMLS &: 368994 Alloge Poet € Bay Doss, LC 02 2014 ORIGINAL ALLONGE Loan Number: [x BORROWER(S): Olga F Valdes ADDRESS: 211 NW 49th Ave Miami, FL 33126 AMOUNT: $525,000.00 Dated: 08/19/19 Pay to the orderof WithoutR LLC ‘By. Jay Skinner, AVP, in Fact for Reverse Mortgage ing LLC GFN: 20190599644 BOOK 31620 PAGE 3499 DATE:09/25/2019 09:43:33 AM MTG DOC 1,837.60 INTANGIBLE 1,050.00 HARVEY RUVIN, CLERK OF COURT, MIA-DADE CTY Requested by and retumed to: RECORDED DOCUMENTS DEPARTMENT 8751 Commodity Circle, Suite 17 Orlando, Fl 32819 Prepared by; Ileana Garcia 8751 Commodity Circle, Sulte 17 Orlando, FL 32819 FHA CaseNi jumber: Loan Numbers State of Florida — “iN: ADJUSTABLE RATE MORTGAGE HOME EQUITY CONVERSION MORTGAGE ‘THIS MORTGAGE SECURES A REVERSE MORTGAGE LOAN THIS MORTGAGE ("Security Instrument") is given on August 19, 2019, The mortgagor is Olga F Valdes, as toa Ife estate and Ana V. Cairo and Liliana Valdes,as remalnderman, whose address is 211 NW 49th Ave, Mlami, FL 33126 ("Borrower"), The term “Borrower” does not inolude the Borrower's successors and assigns, This Scourlty Instrument Is given to The Money House, Inc, which is organized and existing under the laws of Commonwealth of Puerto Rico, and whose address is 8751 Commodity Circle, Sulte 17 , Orlando, FL 32819 ("Lender"), The mortgagee under this Security Instrument is Mortgage Electronic Registration Systems, Inc. (“MERS") (solely as nominee for Lender and Lender's successors and assigns) and the successors and assignsof MERS. MERS is a separate corporation that Is acting solely as a nominee for Lender and Lender's successors and assigns, MERSis organized and existing under the laws of Delaware, and has an address and telephone numberof P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679.MERS. Borrower has agreed to repay to Lender amounts which Lender is obligated to advance, including future advances, under the terms of a Home Equity Conversion Mortgage Adjustable Rate Loan Agreement dated the same date as this Seourity Instrument (“Loan Agreement"), Tho agreement to repay is evidenced by Borrower's Note dated the same date as this Security Instrument ("Note"). This Seourity Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, including all future advances, with interest at a rate subject to adjustment, and all renewals, extensions and modifications of the Note, up to a maximum principal amount of Five Hundred Twenty-Five Thousand and 00/100 Dollars (U.S,$525,000.00); {b) the payment of all other sums, with interest, advanced under Paragraph S to protect the security of this Security Tustrament or otherwise due under the terms of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note and Loan Agreement, The full debt, ‘The Reverse MortgageGroup LLC Loan Originator; Hemando Manzano Company - NMLS #; 1325518 Loan Originator NMLS #: 368994 Florida - !* MBRS Security Instrument (Adjustable) Page | of 12 Revised 09/19/2017 Composite Exhibit "A" CFN: 20190599644 BOOK 31620 PAGE 3500 inoluding all amounts desoribed in (a), (b), and (0) above, if not pald earlier, is due and payable on February 6, 2093. For this purpose, Borrower does hereby mortgage, grant and convey to Lender, the following described property located in MIAMI-DADE County, Florida, which has the address oft 211 NW 49th Ave, Miami, FL 33126, and is described more filly on Exhibit A attached to and hereby incorporated Into this Mortgage (“Property Address”), TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, and fixtures now or hereafter a part of the property, All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully selsed of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property Is unencumbered. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record, THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with linaited variations by jurisdiction to constitute a uniform security Instrument covering real property. UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: 1 Payment of Principal and Interest. Borrower shall pay whon duc the principal of and Interest on, the debt evidenced by the Note. 2 Payment of Property Charges. Borrower shall pay all property charges consisting of property taxes, hazard insurance premiums, flood insurance premiums, ground rents, condominium fees, planned unit development fees, homeowner’s assoolation fees, and any other special assessments that may be required by local or state law in a timely manner, and shall provide evidence of payment to Lender, unless Lender pays property charges by withholding funds from monthly payments due to the Borrower or by charging such payments to a Ilne of credit as provided for in the Loan Agrooment, 3. Fire, Flood and Other Hazard Insurance, Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingenoles, including but not limited to fire and flood for which Lender requires insurance. Such insurance shell be maintained in the amounts and for the periods that Lender requires, Lender has the discretion to inorease or decrease the amount of any Insurance required at any time provided the amount is equal to or greater than any minimum required by the Commissioner of Housing and Urban Development (“Commissioner”), Whether or not Lender imposes a flood insurance requirement, Borrower shall at a minimum insure all improvements on the Property, whether now in existence or subsequently erected, against loss by floods to the extent required by the Commisstoner. If the Lender imposes insurance requirements, all insurance shall be carried with companies approved by Lender, and the insurance policies and any renewals shall be held by Lender and shall include loss payable clauses in favor of and in a form acceptable to Lender, In the event of toss, Borrower shall give Lender immediate notice by mall. Lender may make proofof loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss to Lender, Instead of to Borrower and Lender jointly. Insurance proceeds shall be applicd to ‘The Reverse Mortgage Group LLC ‘Loan Originator: Hemando Manzano ‘Company - NMLS#; 1325518 Loan Originator NMLS #; 368994 Florida - 1" MERS Security Instrument (Adjustable) Page 2of12 Revised 09/19/2017 CFN: 20190599644 BOOK 31620 PAGE 3501 restoration or repair of the damaged Property, if the restoration or repair is economically feasible and Lender's security is not lessoned, If the restoration or repair is not economically feasible or Lender's seourlty would be lessened, the insurance proceeds shall be applied first to the reduction of any indebtedness under a Second Note and Second Security Instrument held by the Commissioner on the Property and then to the reduction of the indebtedness under the Note and this Security Instrument (as described in Paragraph 15) held by the Commissioner on the Property and then to the reduction of the indebtedness under the Note and this Security Instrument, Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity logally entitled thereto. Yn the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser, A. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds, Borrower shall occupy, establish, and use the Property as Borrower's Principal Residence after the execution of this Security Instrument and Borrower (or at feast one Borrower, if initially more than one person are Borrowers) shall continue to occupy the Property as Borrower's Principal Residence for the term of the Security Instrument. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inacowate Information or statements to Lender (or failed to provide Lender with any material information) in connection with the Loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a Principal Residence, If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease, If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to merger In writing, 5. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that are not included in Paragraph 2, Borrower shall pay these obligations on time directly to the entity which is owed the payment, If fallure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly fumish to Lender recelpts evidencing these payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument in the manner provided in Paragraph 14(C). If Borrower fails to make these payments or pay the property charges required by Paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptoy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of property taxes, hazard insurance and other items mentioned in Paragraph 2. To protect Lender's security in the Property, Lender shafl advance and charge to Borrower all amounts due to the Commissioner for the Mortgage Insurance Premium ("MIP") as defined in the Loan Agreement as well as all sums. due to the loan servicer for servicing activities ("Servicing Fee") as defined in the Loan Agreement. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower as provided for in the Loan Agreement and shall be secured by this Security Instrument. ‘The Reverse Mortgage Group LLC ‘Loan Originator; Hernando Manzano Company « NMLS #: 1325518 ‘Loan Originator NMLS #: 368994 Florida - #* MBRS Security Instrumens (Adjustable) Page 3 of 2 Revised ae CFN: 20190599644 BOOK 31620 PAGE 3502 6. Inspection. Lender or its agent may enter on, inspect or make appraisals of the Property in a reasonable manner and at reasonable times provided that Lender shall give the Borrower notice prior to any inspection or appraisal specifying a purpose for the inspection or appraisal which must be related to Lender's interest in the Property. If the Property is vacant or abandoned or the loan is in default, Lender may take reasonable action to Protect and preserve such vacant or abandoned Property without notice to the Borrower. 7. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation, or other taking of any part of the Property, or for conveyance in place of condemnation shall be paid to Lender, The proceeds shall be applied first to the reduction of the indebtedness under the Second Note and Second Security Instrument (as described in Paragraph 15) held by the Commissioner on the Property, and then to the reduction of the indebtedness under the Note and this Scourity Instrument. Any excess proceeds over an amount jired to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. 8. Fees, Lender may collect fees and charges authorized by the Commissioner. 9. Non-Borrowing Spouse, Borrower, N/A, is married undor the laws of to N/A (“Non-Borrowing Spouse”), who is not a Borrower under the terms of the “Note,” “Loan Agreement” or this Security Instrument. @ A Identified by the Borrower who meets, and continues to meet, the Qualifying Attributes requirements established by the Commissioner that the Non- Borrowing Spouse must satisfy in ordor to be eligible for the Deferral Period. Ne A Non-Borrowing Spouse who doss not mest the Qualifying Attributes requirements established by the Commissioner that tho Non-Borrowing Spouse must satisfy in order to be eligible for the Deferral Period. 10. Grounds for Acceleration of Debt. (A) @) Except as provided in Paragraph 10(Aii), Lender may require immediate payment in full of all sums secured by this Securlty Instrumont if a Borrower dies aud the Property is not the Principal Residence of at least one surviving Borrower. (li) Lender shall defer the Due and Payable requiromont under Paragraph 10(A)(j) above for any period of time (“Deferral Pertod”) in which = identified in Paragraph 9 qualifies as an Eligiblo Non-Borrowing Spouse and cortifics all of the following conditions are, and continus to be, met: a Such Eligible Non-Borrowing Spouso remained the spouse of the Identified Borrower for the duration of such Borrower's lifetime; b Such Eligible Non-Borrowing Spouse has occupied, and continues to occupy, the Property as [his/her] Principal Residence; ¢ Such Eligible Non-Borrowing Spouse has established legal ownership or other ongoing legal right to remain in the Property; d All other obligations of the Borrower undor the Noto, the Loan Agresment and this Security ‘The Reverse Mortgage Group LLC ‘Loan Originator: Hemando Manzano ‘Company - NMLS #: 1325518 Loan Originator NMLS #368994 Florida ~ I MERS Security instrument (Adjustable) Page 4 of 12 Revised OVD2017 CFN; 20190599644 BOOK 31620 PAGE 3503 Instrument continue to be satisfied; and ¢ The Note is not eligibleto be called due and payable for any other reason. ‘This sub-paragraph (ii) is inapplicable or null and void if an Eligible Non-Borrowing Spouse is or becomes an Ineligible Non-Borrowing Spouse at any time. Further, during a deferral of the due and payable status, should any of the conditions for deferral cease to be met such a deferral shall immedlately cease and the Note will become immediately due and payable in accordance with the provisions of Paragraph 7 (A)(1) of the Note, (B) Du . Lender may require immediate payment in full of all sums secured by this Security Instrument if all of a Borrower's title in the Property (or his or her beneficial Interest in a trust owning all or part of the Property) is sold o