Party Notice: HSBC BANK USA, NATIONAL ASSOCIATION, AS TRUSTEE, FOR THE REGISTERED HOLDERS OF N Plaintiff vs. Michael Barrett, et al Defendant

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                                Filing # 22044847 E-Filed 12/30/2014 02:15:22 PM

IN THE CIRCUIT COURT OF THE SEVENTEENTH JUDICIAL CIRCUIT
IN AND FOR BROWARD COUNTY, FLORIDA

HSBC BANK USA, NATIONAL CASE NO,: CACE12012220
ASSOCIATION, AS TRUSTEE, FOR THE

REGISTERED HOLDERS OF NOMURA.

HOME EQUITY HOME LOAN, INC,

ASSET-BACKED CERTIFICATES, SERIES

2007-2,

Plaintiff,

VS,

MICHAEL BARRETT; et al.,

Defendant(s).

NOTICE OF FILING THE ORIGINAL NOTE, MORTGAGE AND COPY OF THE
RECORDED ASSIGNMENT OF MORTGAGE

Plaintiff, HSBC BANK USA, NATIONAL ASSOCIATION, AS TRUSTEE, FOR
THE REGISTERED HOLDERS OF NOMURA HOME EQUITY HOME LOAN, INC.
ASSET-BACKED CERTIFICATES, SERIES 2007-2, by and through undersigned counsel,
hereby gives Notice of Filing the Original NOTE, MORTGAGE and Copy of the RECORDED

ASSIGNMENT OF MORTGAGE, in the above referenced matter.

1221-10348B

** FILED: BROWARD COUNTY, FL HOWARD FORMAN, CLERK 12/30/2014 2:15:21 PM.****CERTIFICATE OF SERVICE

I HEREBY CERTIFY that a true and correct copy of the foregoing was provided via E-

Mail or Regular U.S. Mail to the parties listed on the service list on this Ve day of

De Coma, 204

Service List:

By U.S. Mail:

Michael Barrett
7309 Northwest 57 Drive
Tamarac, FL 33321

1221-10348B

ALDRIDGE | CONNORS, LLP |
Attorney for Plaintiff

1615 South Congress Avenue
Suite 200

Delray Beach, FL 33445
Telephone: (561) 392-6391
Facsimile: (561) 392-6965

\N Dan 4h

f -

By: /
Hollis Rose Hamilton

FBN: Bar #91132

Primary E-Mail: ServiceMail@aclawllp.commt. we

MIN: 100224640000992645 Loan Number: 480048311

ADJUSTABLE RATE BALLOON NOTE
(LIBOR Six-Month Index (As Published In The Wall Street Journa)-Rate Caps)

THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST
RATE AND MY MONTHLY PAYMENT, THIS NOTE LIMITS THE AMOUNT MY
INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I
MUST PAY.

‘THIS LOAN IS PAYABLE IN FULL AT MATURITY, YOU MUST REPAY THE ENTIRE.
PRINCIPAL BALANCE OF THE LOAN AND UNPAID INTEREST THEN DUE. LENDER
IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TIME, YOU WILL,
‘THEREFORE BE REQUIRED TO MAKE PAYMENT OUT OF OTHER ASSETS THAT
YOUMAY OWN, OR YOU WILL HAVE TG FIND A LENDER, WHICH MAY BE THE

YOU REFINANCE THIS LOAN AT MATURITY, YOU MAY HAVE TO PAY SOME OR
ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW LOAN EVEN
IF YOU ORTAIN REFINANCING FROM THE SAME LENDER.

NOVEMBER 8, 2006 ST. PETERSBURG FLORIDA,
[Datel (ciyy [state

7309 NW 57 DRIVE, TAMARAC, FLORIDA 33321
erty Address)

1. BORROWER'S PROMISE TO PAY
In return for a loan tha! I have received, J promise la pa U.S. $270,000.00 (this amount is
called "Principal"}, plus interest, to the order of Lender. Lender is QWNIT MORTGAGE SOLUTIONS,
PNG pace a BEE ORNTR {GOREORATION :
will hake all payinents under this Note inthe form of cash, check or money order.
{understand that Lender may transfer this Note, Lender or anyone who takes this Note by (ransfer and who
is entitled to receive payments under this Note is called the "Note Holder.”

2, INTEREST

Interest wil be chaged on unpaid principal wil the ull amount of Principal hasbeen pid wl pay dterest
atayearly rate of 7.990%, ‘The interest rate I will pay may change in accordarice with Section 4 of this
Note,

‘The interest rate required by this Section 2 and Section 4 of this Note is the rate I will pay both before and after
any default described in Section 7(B) of this Note,

3. PAYMENTS

(A) ‘Time and Place of Payments

I will pay principal and interest by making 9 payment every month,

Twill make my monthly payments on the 1S day of each month beginning on JANUARY 1

t) «lw noke these payments every month uni have pad al of the pring and Lterest od

any lies charges described Blow ta may ove under is Note, Each monthly payment will be apple as of ils
scheduled due date and will be applied to interest before Principal, If, on DECEMBER 1, 2036 .
{stil owe amounts under this Note, will pay those amounts in full on that date, whch s called the "Maturity Date.”

Twill make my monthly payments at PO BOX 4387, HOUSTON, TEXAS 77210-4387

 

or at a different place if required by the Note Holder.
{B) Amount of My Initial Monthly Payments

Each of my initial monthly payments will be in the amount of U.S. § 1, 831.92 » This
amount ay change.

{C) Monthly Payment Changes

Changes in iny nionthly payment will reflect changes in the unpaid principal of my loan and in the interest rate
that I must pay. The Note Holder will determine my new Interest rate and the changed amount of my monthly
payment in accordance with Section 4 of this Note,

 

MULTISTATE ADJUSTASLE RATE BALLOON NOTE-LIBOR SDC MONTH INDEX DocMagle CFerws 800.649.7362

(AS PUBLISHED IN THE WALL STREET JOURNAL)~Single Family ‘www docmagic.com
JON ASSUMABLE 12/21/05 Page T of 4

FOR USE IN FLORIDA ONLY

A A AFeta

4, INTEREST RATE AND MONTHLY PAYMENT CHANGES

(A) Change Dates

‘The interest rate I will pay may change onthe 1st. dayof DECEMBER, 2008 vand
gn tha day every Gta month herafler, Each date on whieh my interest rate could change Is called a "Change
vate."

(B) The Index

Beginning with the first Change Date, my interest rate will be based on an Index, ‘The "Index" is the average
of itarbank offered rates for six mouth US. dollr-denominated deposis fn the Landon marke! (LIBOR'),

wublished in The Wall Street Journal, The most recent Index figure avallable as of the first business day of the month
nmedially preceding the son In wich the Change Dato ocar ie clled he ‘Curr! Indo.

1 te Index isto longer available, the Note Holder will choose a new index tha Is based upon comparable
Information, The Note Holder will give me notice af this choice,

(C) Calculation of Changes

Before each Change Date, the Note Holder will calculate my new interest rate by adding SIX AND
37 ie /1000 percentage points ( «375 %) to the Current Index. The Note
Hoe il then round the result of th ton othe nearest one-eighth of de percentage pan (0.1285), Subject tthe
limits stated in Section 4(D) below, this rounded amount will be my new Interest rate until the next Change Date.

‘The Note Holder will then determine the amount of the nionthly payment that would be sufficient (o repay the
unpatd principal that Lam expected (o owe at the Change Date In full on the Amortization Date (described below) at
my new interest rate in substantially equal payments ‘The result of this calculation will be the new amount of my
monthly payment, For purposes of calculating monly payments beglaning wih the frst monthly payment due after
the first Change Date and continuing thereafter trough the final Change Dae, the “Amortization Date" ts the date
that is 240 months following the Maturity Date,

(D) Limits on Interest Rate Changes

‘The Interest rate am required to pay athe frst Change Date wil not be greater than, 20 . 990 26 oF
tess than 7 990 94, Thereafter, my interest rte will never be increased or decreased on any single Change
Date by more than ONE. AND '000/1000 percentage point(s) ( 1.000%
From the rate of Interest L have been paying for the preceding 6 months, My inerest rate will never be grealer
than 13.990 %. My interest rate will never be less than 7.990 %,

(E) Effective Date of Changes
My new interestrate will become effective on each Change Dale, J will pay the amount of my new monthly payment
Deguaning on frst monty prymeat dae after the Change Date unil the amount of my monthly payment changes again,
latice of anges:
‘The Note Holder will deliver or mailto mea notice of any changesin my interest rate and the amount of my monthly
payment before the effective date of any change. ‘The notice will include information required by law to be given to me and
also the title and telephone number of a person who will answer any question I may have regarding the notice.

5. BORROWER'S RIGHT TO PREPAY ** See attached Prepayment Note Addendum.
Lhave the right to make payments of Prinelpal at any (ime before they are due. A payment of Principal only
is known as a “Prepayment.” When [ make a Prepayment, J will tell the Nate Holder in welting that ] am doing so,
Tiny no designate payment asa Prepayment il T have rot made all the monthly payments due under this Note.
Tay make afl Prepayment or prt Prepayments wiloul paying any Prepayment charg, The Note Holder
wl sey Preayaens to ede the amount ‘of Brincipal that I owe under this Note, However, the Note Holder
may apply my Prepayment (o the accrued and unpaid interest on the Prepayment amount before applying my
Prepayment to reduce the Principal amount of this Note, If 1 make a partlal Prepayment, there will ‘be no changes
in the due dates of my monthly payments unless the Note Holder agrees in writing (0 those changes, My partial
Prepayment may redice the aon! of ry monthly payments afte te frst Change Date following my paral
Prepayment, However, any reduction due to my partial Prepayment may be offset by an interest rate increase.

6. LOAN CHARGES

Ia lay, which applies to this loan and which sets maximum foan charges, is finally interpreted so that the
interest or other loan charges collected or to be collected in connection with this Loan exceed the permitted limits,
then: a any such oan car shal be fede hy the aman necessary reduce the charge to the permitted limit;
and (b) any sums already collected from me that exceeded permitted limits will be refunded (o me, ‘The Note Holder
may chodge lo make this refund by reducing the Principal | owe under this Note or by making a direct payment to
me, Ifa refund reduces Principal, the reduction will be treated as a partial Prepayment,

  

 

‘TULTSTATE ADIUSTANLE RATE BALLOON NOTE-LIBOR SIX MONTH INOEK gle Garant s004:
(ASPUBLISHED IN THE WALL SrREET JOURNAL-Sinai Fomiy Sosteate ina cocmnagie. comm
age

ION ASSUMABLE 12/21/05, Pot 4 B

FOR USE IN FLORIOA ONLYibe

7, BORROWER'S FAILURE TO PAY AS REQUIRED

(A) Late Charges for Overdue Payments

Ifthe Note Holder has aol received the full mount of any monthly payment by the end of | 15
calendar days after the Gate is due, 1 wil ay late charge othe Note Hrotder. “The amount ofthe charge will bo

5,000 % of my overdue payment of principal and interest, I witl pay this late charge promptly but only

once on each late payment,

(B) Default

If do nol pay the full amount of each monthly payment on the date itis due, Uwilt be in default, =,

(C) Notice of Default

If Lam in default, the Note Holder may send me a writien notice (elling me that if 1 do nat pay the overdue
amount by a ceriain date, the Note Holder may requlre me to pay immediately the full amount of Principal that has
not been paid and all the interest that L awe on that amount, That date must be at east 30 days after the date on which
the notice is mailed to me or delivered by other means.

(D) No Waiver By Note Holder

Even if, ata time when 1 am In dfwult, the Note Holder does not reulre me to pay immediately in full as
described above, the Note Holder will still have the right to da so if I am in default at a fater time.

(E) Payment of Note Holder's Costs and Expenses

If the Note Holder has required me (o pay immediately in full as described above, the Note Holder will have
the right to be paid back by me for all ofits cosis and expenses in enforcing this Note to the extent not prohibited by
applicable law, ‘Those expenses include, for example, reasonable attorneys’ fees,

8. GIVING OF NOTICES

Unless applicable law requires # different metliod, any notice that must be given to me under this Note will be
geyen by saver or by mailing it by frst class mail to mie atthe Property Address above or ata different address
iT give the Note Holder a notice of my different address,

Unless the Note Holder requires a different method, any notice that must be given (o the Note Holder under
thls Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3{A) above
or ala different address If Tam given a notice of that different address.

9. OBLIGATIONS OF PERSONS UNDER THIS NOTE

If more than one person signs this Note, each person is fully and personally obligated to Keep all of the
promises made inthis Note, including the promise to pay the full amount owed. Any verson who is & guarantor,
Surely or endorser of this Note is also obligated to do these things. Any person who takes over these obligations,
including the obligations of a guarantor, surely or endorser of this Note, is also obligated to keep all ofthe promises
made in this Note, ‘The Note Holder may enforce its rights under (his Note against each person individually or against
all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note.

10. WAIVERS
Land any other person who has obligations under this Note waive the rights of Presentment and Notice of
Dishonor. “Presentment” means the right (0 require the Note Holder to demand payment of amounts due. "Notice
of Dishonor" means the right to require the Note Holder ¢o give notice to other persons thal amounts due have not
een pald,

11, UNIFORM SECURED NOTE s
‘This Note is a uniform instrument with limited varlatfons in some jurisdictions. In addition to the protections
ven (othe Note Hoes under his Note a Morgnge, Deed of Trust or Security Deed (ihe "Securily Instrument),
dated the same date as this Note, protects the Note Holder from possible lasses that might result I 'do nol keep the
promises that I make in this Note. ‘That Security Instrument describes how and under what conditions 1 may be
fequted to make Immediate payment In ful ofall mounts Tove unr this Note. Some of those conditions read as
follows:

Transfer of the Property or a Beneficial Interest In Borrower. As used in this Section 18,
rTatrest in te Property, means any ep ot Dene ners, in the Property including, but not
limited to, those beneficlal Interests transferred in a bond for deed, contract for deed, installment sales
contract of escrow agreement, the inten! of which is the transfer of ttle by Borrower ata future date to
a purchaser.

fall or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower
4s not a natural person and a beneficial interest in Borrower Is sold or transferred) without Lender's prior
written consent, Lender may require Immediate payment in full of all sums secured by this Security

 

MULTISTATE ADJUSTABLE RATE BALLOON NOTE-LIBOR SIX-MONTH INDEX ‘DocMagie Raza 900 640-1962
(AS PUBLISHED IN THE WALL STREET JOURWAL)~Single Family | wwww.docmagic.com
rage 3 of

JON ASSUMABLE 12/21/05
FOR USE IN FLORIDA ONLY

OO TA
M6al ie

Instrument, However, this option shall not be exercised by Lender if such exercise is prohibited by

Applicable Law.

If Lender exercises this option, Lender shall give Borrower notice of acceleration. ‘The notice shall
provide poriod of wot Les than 30 days from the dat the notice is given in accordance with Section

15 within Which Borrower must pay all

‘sums secured by this Securlty Instrument, If Borrower fails to

fay these sums prior tothe expiration of this period, Lender may invoke any remedies pertied by his
Se

‘curity Instrument without further notice or demand on Borrower.

12, DOCUMENTARY TAX

The state documentary tax due on this Note has been paid on the mortgage securing this Indebtedness,

WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED,

 

 

 

(Seal) (Seal)

MICHAEL BARRETT Borrower jorrower
(eal) eal)

-Borrower -Borrower

(Seal) (Seal)

“Borrower Borrower

{Sign Original Only]

 

MULTISTATE ADJUSTABLE RATE BALLOON NOTE.-LIBOR SIX MONTH INOEX
{AS PUBLISHED IN’ THE WALL STREET JOURNAL)-Singia Family

NON ASSUMABLE 12/21/05 Page 4 of 4

FOR USE IN FLORIOA ONLY

DocMogle @Fewwus 200.849.1362
wivw.docmagic.comSyppamst

Loan Number: 480048311
PREPAYMENT PENALTY NOTE ADDENDUM

For a valuable consideration, receipt of which is hereby acknowledged the undersigned agree that certain Promissory
Note of even date to which this Addendum is allached, shall be subject to the following provisions, notwithstanding
any provisions to the contrary contained in sald promissory note or the Deed of Trust, Morigage, Real Estate
Morlgage, Security Deed (Security Instrument) securing same,

This Addendum is attached to and made a part of that certain Promissory Note given by MICHAEL
BARRETT

(Borrower) (o
OWNIT MORTGAGE SOLUTIONS, INC.

(Lender), dated
NOVEMBER 8, 2006 Which Note is in the principal amount of § 270,000.00

PREPAYMENT PENALTY

After TWO (2 ) full years from (he date hereof, maker may pre-pay in whole or in part,
without penalty, the then outstanding principal balance, In the event maker prepays any portion of the outstanding
principal balance and accrued interest during the first TWO (2) years from

the date hereof, Maker shall pay in addition to such prepayment a penally in an amount equal to a percentage of the
principal portion of the amount so pre-pald in accordance with the following:

If paid during the first year from the date hereof, THREE percent ¢ 3.000 %)
of the portion of such prepayment equal (o the principal amount so prepaid,

If paid during the second year from the date hereaf, TWO percent (2.000 9%)
of the portion of such prepayment equal to the principal amount so prepaid,

If paid during the third year from the date hereof, N/A percent ( N/A %)
of the portion of such prepayment equal to the principal amount so prepaid.

If paid during the fourth year from the date hereof, N/A percent ( N/A %)
fof the portion of such prepayment equal to the principal amount so prepatd.

Wf paid during the fifth year from the date hereof, N/A percent ( N/A %)
of the portion of such prepayment equal to the principal amount so prepaid.

Holder shall apply any prepayment first to reduce any interest and charges owing at the timo of such prepayment and
then to reduce the amount of principal owed under this Note, provided that such balance shall be applied to the
principal in reverse order of the due date of each payment and shall not otherwise effect or delay the duc date of the
next payment undor the Note,

B

 

 

 

Borrower MICHAEL BARRETT Date Borrower Date
Borrower Date Borrower Date
Borrower Date Borrower Date

 

PREPAYMENT PENALTY NOTE ADDENDUM
reek Sys le 0 61192

NAOied Cu
fOCUMIS HL

‘This Instrument Prepared By:

After Recording Return To:

OWNIT MORTGAGE SOLUTIONS, INC.

27349 AGOURA ROAD, SUITE 100 .
AGOURA HILLS, CALIFORNIA 91301

 

 

Space Above This Line For Recording Data]

MORTGAGE

MIN: 100224640000992645

DEFINITIONS:

Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11,
13, 18, 20 and 21, Certain rules regarding the usage of words used in this document are also provided in Section 16.

(A) "Securtty Instrument" means this document, which is dated NOVEMBER 8, 2006 + together
‘with all Riders to this document,
(B) "Borrower" is MICHAEL BARRETT, A SINGLE MAN

Borrower is the mortgagor under this Security Instrument.

(©) "MERS" is Morigage Electronic Registration Systems, Inc, MERS is a separate corporation that Is acting
solely as a nominee for Lender and Lender's successors and assigns. MERS is the morigagee under this Security
Instrument, MERS is organized and existing under the laws of Delaware, and has an address and telephone number
of P.O, Box 2026, Flint, MI 48501-2026, tel, (888) 679-MERS, :

() "Lender"is OWNIT MORTGAGE SOLUTIONS, INC,

Lender isa CALIFORNIA CORPORATION organized
and existing under the laws of CALIFORNIA

Lender's address is 27349 AGOURA ROAD, SUITE 100, AGOURA HILLS,
CALIFORNIA 91301

(B) "Note" means the promissory note signed by Borrower and dated NOVEMBER 8, 2006

‘The Note states that Borrower owes Lender TWO HUNDRED SEVENTY THOUSAND AND
00/100 Dollars (U.S.$ 270,000.00 ) plus interest.
Borrower has promised to pay this debi in regular Periodic Payments and (0 pay the debt in full not later than
DECEMBER 1, 2036 .

©) "Property" means the property that is described below under the heading "Transfer of Rights in the Property."

 

Form 3010 1

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FLORIDA Single Family-Fonnie Mao/freddie Mac UNIFORM INSTRUMENT - MERS ‘DocMfagle Gamma 200-648.1362
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(G)_"Loan' means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under
the Note, and all sums due under this Security Instrument, plus interest,

(A) "Riders" means all Riders (o this Security Instrument that are executed by Borrower. ‘The following Riders are
to be executed by Borrower [check box as applicable}:

[2 Adjustable Rate Rider {] Planned Unit Development Rider
CO Balloon Rider (2 Biweekly Payment Rider

Dy 1-4 Family Rider [Second Home Rider

(© Condominium Rider ¥] Other(s) [specify]

ADJUSTABLE RATE BALLOON RIDER

() “Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial
opinions,

G) "Community Association Dues, Fees, and Assessments" means al dues, fees, assessments and other charges
that are imposed on Borrower or the Property by a condominium association, homeowners association or similar
organization,

(K). "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft,
or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, ot
magnetic {ape so as to order, Instruct, or authorize a financial institution to debit or credit an account. Such term
Includes, but 1s not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by
telephone, wire-transfers, and automated clearinghouse transfers.

(L)_ “Escrow Items" means those items that are described in Section 3,

(M) “Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds pald by any
third party (other than insurance proceeds paid under the coverages described in Section 6) for: () damage to, or
destruction of, the Property; (i) condemnation or other taking of all or any part of the Property; (ii) conveyance in
lieu of condemnation; or (jv) misrepresentations of, or omissions as (o, the value and/or condition of the Property.
(N) "Mortgage Insurance” means insurance protecting Lender against the nonpayment of, or default on, the Loan,
(0) “Periodic Payment" means the regularly scheduled amount due for () principal and interest under the Nate,
plus (i) any amounts under Section 3 of this Security Instrument,

(@) “RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing
regulation, Regulation X (24 C.F.R, Part 3500), as they might be amended from time to time, or any additional or
successor legislation or regulation that governs the same subject matter, As used in this Security Instrument,
"RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan”
even if the Loan does not qualify as a "federally related mortgage loan" under RESPA,

(Q "Successor in Interest of Borrower" means any party that has taken ttle to the Property, whether or not that
party has assumed Borrower's obligations under the Note and/or this Security Instrument.

  

 

FLORIDA.-Single Family. Fannie Mao/freddio Mac UNIFORM INSTRUMENT - MERS DoeMagie Esomin oonee 362
Form 3010 101 Page 2 of 18 ate Cian docrnageceomn

MBFito

TRANSFER OF RIGHTS IN THE PROPERTY
‘This Security Instrument secures to Lender; (i) the repayment of the Loan, and all renewals, extensions and modifications
‘of the Note; and (i) the performance of Borrower's covenants and agreements under this Security Instrument and the Note.
For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's
‘successors and assigns) and ¢o the successors and assigns of MERS, the following described property located in the
COUNTY of BROWARD

[ype of Recording Jusisdtetion) {Name of Recording Jurisdiction)
SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF AS EXHIBIT ":
A.P.N,: 494110031600

 

Lot 14, Block 159, MAINLANDS OF TAMARAC LAKES 9th Section
according to the plat thereof, as recorded in Plat Book 67
at Page 48, of the Public Records of Broward, County Florida.

which currently has the address of 7309 NW 57 DRIVE
(Stee)
‘TAMARAC + Florida 33321 ("Property Address"):
{eciy] {ip Code)

TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
covered by this Security Instrument. All ofthe foregoing is referred to in this Security Instrument as the "Property."
Borrower understands and agrees that MERS holds only legal ttle tothe interesis granted by Borrower in this Security
Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors
and assigns) has the right: (0 exercise any or all of those interests, including, but not limited to, the right to foreclose
and sell the Property; and (o take any action required of Lender including, but not limited to, releasing and canceling
thls Security Instrument.

BORROWER COVENANTS that Borrower is lawfully setsed of the estate herehy conveyed and has the right
to morlgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of
record, Borrower warrants and will defend generally the title to the Property agatnst all claims and demands, subject
to any encumbrances of record.

“THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitule a uniform security instrument covering real property.

 

FLORIDA-Single Family-Fannie Mae/freddie Mac UNIFORM INSTRUMENT - MERS Dochtagie @acwus eoncsa1a62
0 01 Page 3.0f 15, winw.docmagle.com

ISAO A
MBUNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:

1, Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrowerstall
pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late
charges due under the Note, Borrower shall also pay funds for Escrow Items pursuant fo Section 3, Payments due
under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other
instrument received by Lender as payment under the Note or this Security Insirument is returned to Lender unpaid,
Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
cone or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check,
treasurer's check or cashier's check, provided any such check is drawn upon aninstitution whose deposits are insured
by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer,

Payments are deemed received by Lender when received at the location designated in the Note or at such other
location as may be designated by Lender in accordance with the notice provisions in Section 15, Lender may return
any payment or partial payment ifthe payment or partial payments are insufficient to bring the Loan current. Lender
may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights
hereunder or prejudice (o its rights to refuse such payment or partial payments in the future, but Lender is not
obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of
its scheduled due date, then Lender need not pay interest on unapplied funds, Lender may hold such unapplied funds
until Borrower makes payment to bring the Loan current, If Borrower does not do so within a reasonable period of
time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
applied to the outstanding principal balance under the Note immediately prior to foreclosure, No offset or claim
which Borrower might have now or in the future against Lender stall relieve Borrawer from making payments due
under the Note and this Security Instrument or performing the covenants and agreements secured by this Security
Tnstrument.

2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
() principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic
Payment in the order in which it became due, Any remaining amounts shall be applied first (o late charges, second
to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.

If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient
amount to pay any late charge due, the payment may be applied (o the delinquent payment and the late charge. If
more than one Periodic Payment is outstanding, Lender may apply any payment recelved from Borrower to the
repayment of the Periodic Payments if, and to the extent that, each payment tan be paid In full. To the extent that
any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may
be applied to any late charges due.. Voluntary prepayments shall be applied first o any prepayment charges and then
as described in the Nate,

‘Any application of payments, insurance proceeds, or Miscellaneous Proceeds fo prinelpal due under the Note
shall not extend or postpone the due date, or change the amount, of the Periodic Payments,

3, Funds for Escrow Items, Borrower shall pay to Lender on the day Periodic Payments are due under the
Note, until the Note is pald in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the
Property; (b) leasehold payments or ground ronts on the Property, if any; (c) premiums for any and all insurance
sequired by Lender under Section 5; and (4) Morigage Insurance premiums, if any, or any sums payable by Borrower
to Lender in leu of the payment of Morigage Insurance premiums in accordance with the provisions of Section 10,
‘These items are called "Escrow Items.” At origination or atany time during the term of the Loan, Lender may require
that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and

 

 

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assessments shall be an Escrow Hem, Borrower shall promptly furnish to Lender all notices of amounts to be pald
under this Section, Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
obligation to pay the Funds for any or all Escrow Items, Lender may waive Borrower's obligation to pay to Lender
Funds for any or all Escrow Items at any time. Any such waiver may only be in writing, Tn the event of such waiver,
Borrower shall pay directly, when and where payable, the amounts due for any Escrow Ttems for which payment of
Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidenclag such payment
within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts
shall forall purposes be deemed to be'a covenant and agreement contained in this Security Instrument, as the phrase
"covenant and agreement” is used in Section 9,~ If Borrower is obligated to pay Escrow Items dicectly, pursuant to
waiver, and Borrower falls to pay the amount due for an Escrow Item, Lender may exercise tts rights under Section
9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount,
Lender may revoke the walver as to any or all Escrow Items at any time by a notice given in accordance with Section
15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
under this Section 3.

Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds
al the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
of future Escrow Items or otherwise in accordance with Applicable Law,

‘The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan
Bank, Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender
shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make
such a charge, Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
Lender shall not be required to pay Borrower any interest or earnings on the Funds, Borrower and Lender can agree
in writing, however, that interest shall be paid on the Funds, Lender shall give to Borrower, without charge, an
annual accounting of the Funds as required by RESPA,

If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for
the excess funds in accordance with RESPA, If there isa shortage of Funds held in escrow, as defined under RESPA,
Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
up the shortage in accordance with RESPA, but in no more than 12 monthly payments, If there 1s @ deficiency of
Funds held in escrow, as defined under RESPA, Lender shall notify Borrower‘as required by RESPA, and Borrower
shall pay (o Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than
12 monthly payments.

Upon payment in full ofall sums secured by this Security Instrument, Lender shall promptly refund to Borrower
any Funds held by Lender,

4, Charges; Liens. Borrower shall pay all axes, assessments, charges, fines, and impositions attributable to
the Property which can attain priority over this Security Instrument, leasehold payments or ground rents ow the
Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items
are Escrow Items, Borrower shall pay them in the manner provided in Section 3,

Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:
(@) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only
so long as Borrower 1s performing such agreement; (b) contests the len in good faith by, or defends against
enforcement of the ien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien
while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder

 

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of the Lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
determines that any part of the Property is subject to a lien which can attain priority aver this Security Insirdment,
Lender may give Borrower a notice identifying the tlen, Within 10 days of the date on which that notice is given,
Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4,

Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service
used by Lender in connection with this Loan,

5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards
including, but not limited to, earthquakes and floods, for which Lender requites insurance. This insurance stall be
maintalned in the amounts (Including deductible levels) and for the periods that Lender requires, What Lender
requires pursuant to the preceding sentences can change during the term of the Loan, ‘The insurance carrier providing
{he insurance shall be chosen by Borrower subject to Lender'stight to disapprove Borrower's choice, which right shall
not be exercised unreasonably, Lender may require Borrower (o pay, in connection with this Loan, elther: (a) a one-
time charge for flood zone determination, certification and tracking secvices; or (b) @ one-time charge for flood zone
determination and certification services and subsequent charges each time remappings or similar changes occur which
reasonably might affect such determination or certification, Borrower shall also be responsible for the payment of
any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone
determination resulting from an objection by Borrower.

If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular (ype or amount
of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's
equity in the Property, or the contents of the Property, against any risk, hazard or lability and might provide greater
or fesser coverage than was previously in effect. Bortower acknowledges that the cost of the insurance coverage so
obtained might significantly exceed the cost of insurance that Borrower could have obtained, Any amounts disbursed
by Lender under this Section 5 shall become additipnal debt of Borrower secured by this Security Instrument, ‘These
amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
‘upon notice from Lender to Borrower requesting payment,

Alll insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
additional loss payee. Lender shall have the right to hold the policies and renewal certificates, If Lender requires,
Borrower shall promptly give to Lender all recelpts of pald premiums and renewal notices. If Borrower obtains any
form of insurance coverage, not otherwise required by Lender, for damage (o, or destruction of, the Property, such
policy shall include a standard mortgage clause and shall name Lender as morigagee and/or as an additional loss

aye,
PS athe event of oss, Borrower stall give prompt nolice tothe insurance carsterand Lender, Lender may make
proof of loss if not made promplly by Borrower, Unless Lender and Borrower otherwise agree in writing, any
insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
or repair of the Property, If the restoration or repair is economically feasible and Lender's security is not lessened,
During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
hhas had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
provided that such inspection shall be undertaken promptly, Lender may disburse proceeds for the repairs and
restoration in a single payment or in a series of progress payments as the work is completed, Unless an agreement
4s made in weiting or Applicable Law requires interest lo be paid on such insurance proceeds, Lender shall not be
required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
retained by Borrower shall not be pald out of the insurance proceeds and shall be the sole obligation of Borrower.

 

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MBIfthe restoration or repairis not economically feasible or Lender's security would be lessened, the insurance proceeds
shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, pald
to Borrower, Such insurance praceeds shall be applied in the order provided for in Section 2.

If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
offered to settle a claim, then Lender may negotiate and settle the claim, The 30-day period will begin when the
notice fs given, In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower horeby
assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the sight to any refund
of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights
are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
Property or fo pay amounts unpaid under the Note or this Security Instrument, whether or not then due,

6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
‘within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's
principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
control,

7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall uot destroy,
damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not
Borrower Is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
deteriorating or decreasing in value due to its condition. Unless itis determined pursuant to Section 5 that repair or
restoration Is not economically feasible, Borrower stall promplly repair the Property if damaged to avoid further
deterioration or damage, If insurance or condemnation proceeds are paid in connection with damage (o, or the taking
of, the Property, Borrower stall be responsible for repairing or restoring the Property only if Lender has released
proceeds for such purposes, Lender may disburse proceeds forthe repairs and restoration in a single payment or in
a series of progress payments as the work is completed, If the insurance or condemnation proceeds are not sufficient
to repalr or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair
or restoration.

Lender orits agent may make reasonable entries upon and inspections ofthe Property. If thas reasonable cause,
Lender may inspect the interior of the improvements on the Property, Lender shall give Borrower notice at the ime
of or prior fo such an interior inspection specifying such reasonable cause,

8, Borrower's Loan Application, Borrower shall be in dofault if, during the Loan application process,
Borrower or any persons or entities acting a the direction of Borrower or with Borrower's knowledge ar consent gave
materially false, misleading, or inaccurate Information or statements to Lender (or failed to provide Lender with
material information) in connection with the Loan. Material representations include, but are not limited 10,
representations concerning Borrower's occupancy of the Property as Borrower's principal residence,

9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (3)
Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument
(uch as a praceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of alien which may
aitain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the
Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the
Property and righté under this Security Instrument, including protecting and/or assessing the value of the Property,
and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums
secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable

 

 

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attorneys! fees to protect its interest in the Property and/or rights under this Security Instrument; including its secured
position in a bankruptey proceeding, Securing the Property includes, but is not limited fo, entering the Propérty to
make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or
other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may lake action
‘under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so, Ttis agreed that
Lender incurs no liability for not taking any or all actions authorized under this Section 9,

‘Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
Security Instrument, These amounts shall bear interest al the Note rate from the date of disbursement and shall be
payable, with such interest, upon notice from Lender to Borrower requesting payment,

If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease,
Borrower shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease,
Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower
acquires fee title (o the Property, the leasehold and the fee tle shall not merge unless Lender agrees to the merger
in writing.

10. Mortgage Ynsuraice. If Lender reqlred ‘Mortgage Insurance 2s a condition of making the Loan, Borrower
shall pay the premiums required to maintain the Mortgage Insurance in effect, If, for any reason, the Mortgage
Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
insurance and Borrower was required (o make separately designated payments toward the premiums for Mortgage
Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage
Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance
previously in effect, from an alternate mortgage insurer selécted by Lender. If substantially equivalent Mortgage
Insurance coverages not available, Borrower shall continue to pay to Lender the amount of the separately designated
payments that were due when the insurance coverage ceased to be in effect. Lender will accopt, use and retain these
payments as a non-refundable loss reserve in liew of Mortgage Insurance. Such loss reserve shall be non-refundable,
notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any
{interest or earnings on such loss reserve, Lender can no longer require loss reserve payments if Mortgage Insurance
coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again
becomes available, is obtained, and Lender requires separately designated payments toward the premiums for
‘Mortgage Insurance. If Lender required Mortgage Insurance asa condition of making the Loan and Borsower was
required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay
the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until
Lender's requirement for Mortgage Insurance ends in accordance with any wrliten agreement between Borrower and
Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section
10 affects Borrower's obligation to pay interest at the rate provided in the Note,

Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur
If Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance,

Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
agreements with other parties that share or modify their risk, or reduce losses, ‘These agreements are on termas and
conditions that are satisfactory to the mortgage insurer and the other