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IN THE CIRCUIT COURT OF THE
12TH JUDICIAL CIRCUIT, IN AND FOR
SARASOTA COUNTY, FLORIDA
CIVIL DIVISION
CASE NO.:
COUNTRYWIDE HOME LOANS, INC.,
Plaintiff,
VS.
SARAH KIRCHNER; UNKNOWN
SPOUSE OF SARAH KIRCHNER;
JOHN DOE; JANE DOE AS UNKNOWN
TENANT (S) IN POSSESSION OF
THE SUBJECT PROPERTY,
Defendants.
COMPLAINT
The Plaintiff, COUNTRYWIDE HOME LOANS, INC., sues the Defendants
named in the caption hereof and alleges:
COUNT I
1. This is an action to foreclose a mortgage on real property in
SARASOTA County, Florida.
2. On January 25, 2006, SARAH KIRCHNER executed and delivered a
promissory note and Purchase Money Mortgage securing payment of
the same to MORTGAGE ELECTRONIC REGISTRATION SYSTEMS
INCORPORATED, AS NOMINEE FOR COUNTRYWIDE HOME LOANS, INC., which
mortgage was recorded in INSTRUMENT #2006031218.0n January 1
2007, the Mortgage was modified by virtue of the loan
Modification Agreement recorded in INSTRUMENT #2007072185 of the
Public Records of SARASOTA County, Florida and which mortgaged
the property described therein, then owned by and in possession
of sald mortgagor. A copy of the note and mortgage are attached
hereto and made a part hereof.
3. Plaintiff, as servicer for the owner and acting on behalf of the
owner with authority to do so, is the present designated holder
07-09976
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action.
4, Defendant(s), SARAH KIRCHNER, own(s) the property.
5S. There has been a default under the note and mortgage held by
Plaintiff in that the payment due March 01, 2007 and all
subsequent payments have not been made. Plaintiff declares the
full amount due under the note and mortgage to be now due.
6. All conditions precedent to the filing of this action has been
performed or has occurred.
7. There is now due, owing and unpaid to the Plaintiff as of the
date of the filing of this complaint the following amounts on
principal of said note and mortgage: unpaid principal
balance: $ 309,268.15, plus interest, escrow, title search
expenses for ascertaining necessary parties to this suit, title
search, title exam, filing fee, and attorneys fees and costs.
8. Plaintiff has obligated itself to pay the undersigned attorneys a
reasonable fee for their services herein, Pursuant to the loan
documents Plaintiff is entitled to an award of attorneys fees.
9. Defendants, JOHN DOE and JANE DOE, as Unknown Tenant(s) in
possession of the subject property, may claim some interest in or
lien upon the subject property arising form being in actual
possession of same, but interest, if any, is subject and inferior
to the lien of Plaintiff’s mortgage.
10. The Defendant, UNKNOWN SPOUSE OF SARAH KIRCHNER may claim some
interest in or lien upon the subject property by virtue of Any
possible Homestead Interest. Said interest, if any, is subject
and inferior to the lien of Plaintiff’s mortgage.
WHEREFORE, Plaintiff prays as follows:
(a.) That this Court will take jurisdiction of this cause, the subject
matter and the parties hereto.
(b.) That this Court ascertain and determine the sums of money due and
payable to the Plaintiff from the Defendant(s), including without
limitation principal, interest, advances, attorney fees, and
costs pursuant to the loan documents.
07-09976
Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 2 of 49(c.) That the sum of money found to be due as aforesaid be decreed by
this Court to be a lien upon the lands described in Plaintiff's
mortgage.
(d.) That such lien be foreclosed in accordance with the rules and
established practice of this Court, and upon failure of the
Defendants to pay the amount of money found to be due by them to
the Plaintiff, the said land be sold to satisfy said lien.
(e.) That this Court decree that the lien of the Plaintiff is superior
to any and all right, title or interest of the Defendants herein
or any person or parties claiming by, through or under them since
the institution of this suit.
(f.) That all right, title or interest of the Defendants or any person
claiming by, through or under them be forever barred and
foreclosed.
(g.) That this Court grants general relief in this cause as in its
discretion might be just and proper including, but not limited
to, a deficiency judgment if the proceeds of the sale are
insufficient to pay Plaintiff’s claim.
Law Offices of Marshall C.Watson, P.A.
1800 N.W. 49™ Street, Suite 120
Fort Lauderdale, FL 33309
Telephone: (954) 453-0365
(800) 441-2438
Facsimile: (954) 771-6052
gine Moloney, Esq.
Bar Number: 0638358
Tenia C. Hunter
FBN 0016635
07-09976
Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 3 of 49Telephone (954) 453-0365
Manaei
anaging Attorney Facsimile (954) 771-6052
Marshall C. Watson
Associate Attorneys
Bouavone Amphone Sant unter
Kathleen Angione ean Moloney
Patri A Aang LAW OFFICES We Pec ome:
Sarah M. Barbaccia
Associate Attorneys
Laura M. Carbo OF MARSHALL C. WATSON Amy M. Post
Linda Chelvam Karen A Thompson
Caryn A. Graham 1800 NORTH WEST 49TH STREET, SUITE #120 Scott R Weiss
FORT LAUDERDALE, FLORIDA 33309
Of Counsel!
John A. Watson
July 10, 2007
NOTICE REQUIRED BY THE FAIR DEBT COLLECTION PRACTICES ACT
15 U.S.C. SECTION 1692, AS AMENDED
RE: Property Address: 3633 ENID LANE NORTH PORT, FL 34288
125697316
Investor Loan #: Bi
Owner: SARAH KIRCHNER
Mortgagor: SARAH KIRCHNER
Our File #: 07-09976
1. The Plaintiff, COUNTRYWIDE HOME LOANS, INC., is the creditor to
whom the debt is owed by those individuals who are obligated
under the promissory note and mortgage.
2. The debtor may dispute the validity of this debt, or any portion
thereof, within 30 days of receipt of this Notice. If the debtor
fails to dispute the debt within 30 days, the debt will be
assumed valid by the creditor.
3. If the debtor notifies the creditor's law firm in writing within
30 days from receipt of this notice that the debt, or any portion
thereof, is disputed, the creditor's law firm will obtain
verification of the debt, or a copy of a judgment and a copy of
the verification will be mailed to-the debtor by the creditor's
law firm. Collection efforts, resulting in additional attorney
fees and costs however, will continue during this 30 day period
until this office receives the written request for verification.
4. If the creditor named herein is not the original creditor, and if
the debtor makes a written request to the creditor's law firm
Within 30 days of receipt of this Notice, the name and address of
the original creditor will be mailed to the debtor by the
creditor's law firm. Collection efforts, resulting in additional
attorney fees and costs however, will continue during this 30 day
period until this office receives the written request for the
name and address of the original creditor.
9S. As of July 10, 2007, you owe a total amount of $326,732.98 in
certified funds. Because of interest, late charges, and other
07-09976
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you pay may be greater. Hence, if you pay the amount shown
above, an adjustment may be necessary after we receive your
certified funds, in which event we will inform you before
depositing the check for collection. For further information,
please call 1-800-441-2438.
6. Written requests pursuant to this notice should be addressed to
PAIR DEBT COLLECTION CLERK, Marshall C. Watson, P.A.
7. This communication is for the purpose of collecting a debt, and
any information obtained from the debtor will be used for that
purpose.
8. The Law does not require me (the debt collector) to wait until
the end of the thirty-day period before suing you (the consumer)
to collect this debt. Once a lawsuit is commenced, all judicial
remedies will be zealously pursued and attorney fees and costs,
which you may be responsible for, in whole or in part, will be
incurred. If, however, you request proof of the debt or the name
and address of the original creditor within the thirty-day period
which begins with your receipt of this letter, the law requires
me to suspend my efforts (through litigation or otherwise) to
collect the debt until I mail the requested information to you.
Once the requested information is mailed to you litigation
efforts will resume.
9. Even though you are required to file a response to the Lawsuit
prior to the thirty (30) days, your validation rights, as set
forth in this notice, shall not expire for thirty (30) days.
07~09976
Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 5 of 49o AD ,
b yp * After Recording Returm To:
0 COUNTRYWIDE HOME LOANS, INC.
MS SV-79 DOCUMENT PROCESSING
M 9.0.Box 10423
ECORDED IN OFFICIAL AECOROS
STRIMENT # DOO6OT1210 21 PBS
2006 FEB 17 11:03 AM
___KAREN E. RUSHING
CLERK OF THE CIRCUIT COURT
SARASOTA COUNTY» FLORIDA
CBETHEL Receipt#'750160
Doc Stame-Mort: 1,086.75
Intans. Tax: 621.00
£ an Nuys, CA 91410-0423
) is document was prepared by:
ILEEN BLYTH
a
= COUNTRYWIDE HOME LOANS, INC.
c
FL,
Title
tT
{Space Above This Line For Recording Data]
00012569731601006
[Doc ID #]
MORTGAGE
MIN 1000157-0006324555-5
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) “Security Instrument" means this document, which is dated JANUARY 25, 2006 , together
with al! Riders to this document.
(B) "Borrower" is
SARAH KIRCHNER
Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage 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 mortgagee 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.
(D) "Lender" is
COUNTRYWIDE HOME LOANS, INC.
Lender is a CORPORATION
organizcd and existing under the laws of NEW YORK
Lender's address is
4500 Park Granada MSN# SVB-314, Calabasas, CA 91302-1613
(E) "Note" means the promissory note signed by Borrower and dated JANUARY 25, 2006 . The
Note states that Borrower owes Lender
THREE HUNDRED TEN THOUSAND FIVE HUNDRED and 00/100
Dollars (U.S. $ 310,500.00 ) plus interest. Borrower has promised to pay this debt in regular
Periodic Payments and to pay the debt in full not faterthan NOVEMBER 01, 2036 .
(F) Property" means the property that is described below under the heading "Transfer of Rights in the
Property."
FLORIDA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT WITH MERS
Page 1 of 11
BD sacri) (0005) CHL (98/05)(d) = VMP Mortgage Solutions, Inc. (800)521-7291
UY
nn na
oO
oO
SKC
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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 Instrumcnt, plus interest.
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Riders arc to be executed by Borrower [check box as applicable]:
[x_] Adjustable Rate Rider _[__] Condominium Rider Second Home Rider
Balloon Rider [__] Planned Unit Development Rider [Ji-4 Family Rider
[_] VA Rider [| Biweekly Payment Rider [x] Other(s) [specify]
OTC CONSTRUCTION MTG RDR
(1) "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.
(J) “Community Association Dues, Fees, and Assessments" means all 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, Or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an
account. Such term includes, but is not limited to, point-of-sale wansfers, 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, scttlement, award of damages, or proceeds paid by
any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (#) damage
to, or destruction of, the Property; (13) condemnation or other taking of all or any part of the Property; (iii)
conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or
condition of the Property.
(N) “Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the
Loan.
(OQ) "Periodic Payment" means the regularly scheduled amount due for (i) principal and intcrest under the
Note, plus (11) any amounts under Section 3 of this Security Instrument.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 260! 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 toan”
under RESPA.
(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not
that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
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 (ii) the performance of Borrower's covenants and agreements under this
Secunty 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 to the successors and assigns
of MERS, the following described property located in the
COUNTY of CHARLOTTE
[Type of Recording Jurisdiction] {Name of Recording Jurisdiction}
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
GD -sacre) (0008) CHL. (08/05) Page 2 of 11 Form 3010 1/01
SK
eee
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Parcel ID Number: which currently has the address of
LOT 6 ENID LANE, NORTH PORT
{Streev/City]
Florida 33983 ("Property Address"):
(Zip Code]
TOGETHER WITH all the improvements now or hereafter erected on the property, and al] easements,
appurtenances, and fixtures now or hereafter a part of the property. Al} replacements and additions shall also
be covered by this Security Instrument. All of the foregoing is referred to im this Secunty Instrument as the
"Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by
Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominec for
Lender and Lender's successors and assigns) has the night: to exercise any or all of those interests, including,
but not limited to, the night to foreclose and sell the Property; and to take any action required of Lender
including, but not limited to, releasing and canceling this Security Instrument.
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the
nght to mortgage, grant and convey the Propeny and that the Property is unencumbered, except for
encumbrances of record. 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 limited variations by jurisdiction to constitute a uniform security imstroument covering real
property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower
shall 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 to
Section 3. Payments duc 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
Instrument is returned to Lender unpaid, Lender may require that any or all subsequcnt payments due under
the Note and this Security Instrument be made in one or more of the followmg 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 an instituion whose deposits are insured by a federal agency, instrumentality, or
entity; or (d) Electronic Funds Transfer.
Payments are deemed reccived 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 if the payment or partial payments are insufficient to bring the
Loan current. Lender may accept any payment or partial payment insufficient to bing the Loan current,
without waiver of any rights hereunder or prejudice to 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 unti] 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 shall relieve Borrower from making payments due under the Note and this Security Instrument
or performing the covenants and agreements secured by this Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
accepled and applied by Lender shall be applied in the following order of priority: (a) interest due under the
Note; (b) 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 to
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 to the delinquent payment and the
latc charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from
Borrower to the repayment of the Periodic Payments if, and'to the extent that, each payment can 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 to any prepayment charges and then as described in the Note.
> -BA(FL) (0005) CHL (08/05) Page 3 of 11 Form 3010 1/01
A
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Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal 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 Paymenis are duc under
the Note, unti! the Note is paid 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 Sccurity Instrument as a Jien or
encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums
for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or
any sums payable by Borrower to Lender in lieu of the payment of Mortgage Inswrance premiums in
accordance with the provisions of Section 10. These items are called “Escrow Items." At origination or at any
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 ducs, fees and assessments shal! be an Escrow Item.
Borrowcr shall promptly furnish to Lender all notices of amounts to be paid 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 wniting. In the cvent of such waiver, Borrower shalt pay
directly, when and where payable, the amounts duc for any Escrow Items for which payment of Funds has
been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
within such ume period as Lender may require. Borrower's obligation to make such payments and to provide
receipts shall for all purposes be decmed 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 directly, pursuant to a waiver, and Borrower fails to pay the amount duc for an Escrow Item,
Lender may exercisc its 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 waiver as to any or all Escrow
Items at any lime by a notice given in accordance with Scction 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 at 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 enuly (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 mterest 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 intcrest or earnings
on the Funds. Borrower and Lender can agree in whiting, 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 is a 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 is a deficiency of Funds held in escrow, as defined under RESPA, Lender shail notify
Borrower as required by RESPA, and Borrower shalt pay to Lender the amount necessary to make up the
deficiency in accordance with RESPA, bul in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
Borrower any Funds held by Lender.
4, Charges; Liens. Borrower shall pay all taxcs, assessments, charges, fines, and impositions attributable
to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on
the Property, if any, and Community Association Dues, Fees, and Asscssments, if any. To the extent that these
items are Escrow licms, Borrower shall pay them in the manner provided in Section 3.
Borrower shali promptly discharge any lien which has priority over this Security Instrument unless
Borrower: (a) agrees in writing to the payment of the obligation secured by the licn in a manner acceptable to
Lender, but only so long as Borrower is performing such agrcement; (b) contests the lien in good faith by, or
defends against enforcement of the licn in, legal proceedings which in Lender's opinion operate to prevent the
enforcement of the licn while those proceedings are pending, but only until such procecdings are concluded;
or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this
Security Insuument. 1f Lender determines that any part of the Property is subject to a lien which can altain
priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. 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,
QD -sa(Ft) (000s) CHL (08/05) Paga 4 of 11 Form 3010 1/01
SA
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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 requires insurance. This
insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender
requircs. What Lender requires pursuant to the preceding sentences can change during the term of the Loan.
The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right 10
disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower
(0 pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification
and tracking services; or (b) a 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
fesulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lendcr's option and Borrower's expense. Lender is under no obligation to purchase any particular
lype 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
liability and might provide greater or lesser coverage than was previously in effect. Borrower 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 Scction 5 shall become additional
debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from
the date of disbursement and shali be payable, with such imterest, upon notice from Lender to Borrower
requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right
lo disapprove such policies, shall include a standard mortgage clause, and shail name Lender as mortgagee
and/or as an additional loss payee. Lender shal] have the right to hold the policics and renewal certificates. If
Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If
Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
mortgagee and/or as an additional loss payce.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
make proof of loss if not madc promptly by Borrower. Unless Lender and Borrower otherwise agree in
writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shal} 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 has had an opportunity to inspect such Property to ensure the work has
been completed to Lender's satisfaction, provided that such inspection shal] 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 is made in writing or Applicable Law requires interest to be
paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eamings on
such procceds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of
the imsurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not
economically feasible or Lender's security would be lessened, the insurance proceeds shal] be applied to the
sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower,
Such insurance proceeds 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
carricr has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or
otherwise, Borrower hereby 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 right to any refund of uneamed 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 to pay amounts unpaid under the Note or this
Security Instrument, whether or not then due.
GD -6A(FL) (0005) CHL. (08/05) Page 5 of 11 Form 3010 1/01
SK
SS SSSR
Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 10 of 49DOC ID #: 00012569731601006
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 onc ycar after the date of occupancy, unless Lender otherwise
agrecs in wnting, which consent shall not be unreasonably withheld, or unless extenuating circumstanccs exist
which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not
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 shal! maintain the Property in order to prevent
the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if
damaged to avoid further deterioration or damage. If insurance or condemnation procceds are paid in
connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
restoring the Property only if Lender has released proceeds for such purposes. 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. If the insurance or condemnation procecds are not sufficient to repair or restore the Property,
Borrower is not reheved of Borrower's obligation for the completion of such repair or restoration.
Lender or its agent may make rcasonable entries upon and inspections of the Property. If it has
reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shail] give
Borrower notice at the ume of or prior to such an interior inspection specifying such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or
consent pave materially false, misleading, or maccurate information or statements to Lender (or failed to
provide Lender with material information) in connection with the Loan. Material representations include, but
arc not limited to, 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 Sccurity Instrument. If (a)
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 (such as a procecding in bankruptcy, probate, for condemnation or forfeiture, for
enforcement of a Jien which may attain priority over this Security Instrument or to enforce laws or
regulauions), 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 nghts 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 Secunty Instrument; (b) appearing in court, and (c) paying reasonable attorneys’ fees to protect its
interest in the Property and/or nghts under this Security Instrument, including its secured position in a
bankrupicy proceeding. Securing the Property includes, but is nol limited to, entering the Property 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 take
action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It
is 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 intercst at 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 Secunty Instrument is on a leasehold, Borrower shall comply with all the provisions of the Icase.
If Borrower acquires fee ttle to the Property, the leasehold and the fee title shall not merge unless Lender
agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage Insurance as 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 requircd by Lender ceases to be available from the mortgage insurer that
previously provided such insurance and Borrower was required to make separately designated payments
toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage
substanlally cquivalent 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 sclected
by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue
to pay to Lender the amount of the separately designated payments that were due when the insurance coverage
ccased to be in effect. Lender will accept, use and rctain these payments as a non-refundable loss reserve in
lieu 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 10 pay Borrower any intercst or earnings on such
loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance covcrage (in the
& -~GA(FL) (0005) CHL (08/05) Page 6 of 11 Form 3010 1/01
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Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 11 of 49DOC ID #: 00012569731601006
amount and for the penod that Lender requires) provided by an insurer selected by Lender again becomes
available, is obtained, and Lender requires separatcly designated payments toward the premiums for Mortgage
Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was
required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower
shall pay the premiums required to maintatn Mortgage Insurance in effect, or to provide a non-refundable loss
reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any wrillen agreement
between Borrower and Lender providing for such termination or until termination is required by Applicabic
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 docs 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
terms and conditions that are satisfactory to the mortgage imsurer and the other party (or parties) to these
agreements. These agreements may require the mortgage insurer to make payments using any source of funds
that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance
premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any
other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive
from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for
sharmg or modifying the mortgage insurer's nsk, or reducing losses. If such agreement provides that an
affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the
insurer, the arrangement is often termed “captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will
owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other Jaw. These rights may
include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage
Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any
Mortgage Insurance premiums that were unearned at the time of such cancellation or termination.
1t. Assigament of Miscellaneous Proceeds; Forfeiture. Ail Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shal! 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 shal] have the right to hold such Miscellaneous Proceeds until Lender has
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 pay for the rcpairs and restoration in
a single disbursement or in a scrics of progress payments as the work is completed. Unless an agreement is
made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall
not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or
repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall
be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
paid to Borrower. Such Miscellaneous Procecds shall be applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds
shall be applied to the sums securcd by this Security Instrument, whether or not then due, with the excess, if
any, paid to Borrower.
In the cvent of a partial taking, destruction, or loss in value of the Property in which the fair markct value
of the Property immediately before the partial taking, destruction, or Joss in value is equal to or greater than
the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction,
or Joss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Sccurity
Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction:
(a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value
divided by (b) the fair market valuc of the Property immediately before the partial taking, destruction, or loss
in valuc. Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the [air market value
of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of
the sums securcd immediately before the partial taking, destruction, or loss in value, unless Borrower and
Lender otherwise agrec in writing, the Misce)lancous Proceeds shall be applied to the sums secured by this
Security Instrument whether or not the sums are then due.
GD -sA(FL) (0005) CHL (08/05) Page 7 of 11 Form 3010 1/01
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If the Property is abandoncd by Borrower, or if, after notice by Lender to Borrower that the Opposing
Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to
respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply
the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums sccured by this
Security Instrument, whether or not then due. "Opposing Party” means the third party that owes Borrower
Miscellaneous Proceeds or the party against whom Borrower has a right of acton in regard to Misccllaneous
Proceeds. °
Borrower shall be in default if any action or proceeding, whether civid or criminal, is begun that, in
Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest
in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration
has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a
ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's
interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for
damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and
shall be paid to Lender.
All Miscellaneous Proceeds thal are not applied to restoration or repair of the Property shall be applicd in
the order provided for in Section 2.
12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
payment or modification of amortization of the sums secured by this Secunty Instrument granted by Lender to
Borrower or any Successor in Interest of Borrower shail not operate to release the liability of Borrower or any
Successors in Intcrest of Borrower. Lender shali not be required to commence proccedings against any
Successor in Interest of Borrower or to rcfuse to extend time for payment or otherwise modify amortization of
the sums secured by this Sccurity Instrument by reason of any demand made by the original Borrower or any
Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including,
without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of
Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any
right or remedy.
13. Joint and Severa) Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and
agrecs that Borrower's obligations and liability shall be joint and several. However, any Borrower who
co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security
Instrument only to mortgage, grant and convey the co-signer's interest »n the Property under the terms of this
Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and
(c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any
accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's
consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's
obligations under this Security Instrument in wnting, and is approved by Lendcr, shall obtain all of Borrower's
nights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations
and liability under this Security Instrument unless Lender agrees lo such release in writing. The covenants and
agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors
and assigns of Lender.
14. Loan Charges. Lender may charge Bormower fees for services performed in connection with
B
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IN THE CIRCUIT COURT OF THE 12TH JUDICIAL CIRCUIT, IN AND FOR SARASOTA COUNTY, FLORIDA CIVIL DIVISION CASE NO.: COUNTRYWIDE HOME LOANS, INC., Plaintiff, VS. SARAH KIRCHNER; UNKNOWN SPOUSE OF SARAH KIRCHNER; JOHN DOE; JANE DOE AS UNKNOWN TENANT (S) IN POSSESSION OF THE SUBJECT PROPERTY, Defendants. COMPLAINT The Plaintiff, COUNTRYWIDE HOME LOANS, INC., sues the Defendants named in the caption hereof and alleges: COUNT I 1. This is an action to foreclose a mortgage on real property in SARASOTA County, Florida. 2. On January 25, 2006, SARAH KIRCHNER executed and delivered a promissory note and Purchase Money Mortgage securing payment of the same to MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INCORPORATED, AS NOMINEE FOR COUNTRYWIDE HOME LOANS, INC., which mortgage was recorded in INSTRUMENT #2006031218.0n January 1 2007, the Mortgage was modified by virtue of the loan Modification Agreement recorded in INSTRUMENT #2007072185 of the Public Records of SARASOTA County, Florida and which mortgaged the property described therein, then owned by and in possession of sald mortgagor. A copy of the note and mortgage are attached hereto and made a part hereof. 3. Plaintiff, as servicer for the owner and acting on behalf of the owner with authority to do so, is the present designated holder 07-09976 Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 1 of 49of the note and mortgage with authority to pursue the present action. 4, Defendant(s), SARAH KIRCHNER, own(s) the property. 5S. There has been a default under the note and mortgage held by Plaintiff in that the payment due March 01, 2007 and all subsequent payments have not been made. Plaintiff declares the full amount due under the note and mortgage to be now due. 6. All conditions precedent to the filing of this action has been performed or has occurred. 7. There is now due, owing and unpaid to the Plaintiff as of the date of the filing of this complaint the following amounts on principal of said note and mortgage: unpaid principal balance: $ 309,268.15, plus interest, escrow, title search expenses for ascertaining necessary parties to this suit, title search, title exam, filing fee, and attorneys fees and costs. 8. Plaintiff has obligated itself to pay the undersigned attorneys a reasonable fee for their services herein, Pursuant to the loan documents Plaintiff is entitled to an award of attorneys fees. 9. Defendants, JOHN DOE and JANE DOE, as Unknown Tenant(s) in possession of the subject property, may claim some interest in or lien upon the subject property arising form being in actual possession of same, but interest, if any, is subject and inferior to the lien of Plaintiff’s mortgage. 10. The Defendant, UNKNOWN SPOUSE OF SARAH KIRCHNER may claim some interest in or lien upon the subject property by virtue of Any possible Homestead Interest. Said interest, if any, is subject and inferior to the lien of Plaintiff’s mortgage. WHEREFORE, Plaintiff prays as follows: (a.) That this Court will take jurisdiction of this cause, the subject matter and the parties hereto. (b.) That this Court ascertain and determine the sums of money due and payable to the Plaintiff from the Defendant(s), including without limitation principal, interest, advances, attorney fees, and costs pursuant to the loan documents. 07-09976 Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 2 of 49(c.) That the sum of money found to be due as aforesaid be decreed by this Court to be a lien upon the lands described in Plaintiff's mortgage. (d.) That such lien be foreclosed in accordance with the rules and established practice of this Court, and upon failure of the Defendants to pay the amount of money found to be due by them to the Plaintiff, the said land be sold to satisfy said lien. (e.) That this Court decree that the lien of the Plaintiff is superior to any and all right, title or interest of the Defendants herein or any person or parties claiming by, through or under them since the institution of this suit. (f.) That all right, title or interest of the Defendants or any person claiming by, through or under them be forever barred and foreclosed. (g.) That this Court grants general relief in this cause as in its discretion might be just and proper including, but not limited to, a deficiency judgment if the proceeds of the sale are insufficient to pay Plaintiff’s claim. Law Offices of Marshall C.Watson, P.A. 1800 N.W. 49™ Street, Suite 120 Fort Lauderdale, FL 33309 Telephone: (954) 453-0365 (800) 441-2438 Facsimile: (954) 771-6052 gine Moloney, Esq. Bar Number: 0638358 Tenia C. Hunter FBN 0016635 07-09976 Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 3 of 49Telephone (954) 453-0365 Manaei anaging Attorney Facsimile (954) 771-6052 Marshall C. Watson Associate Attorneys Bouavone Amphone Sant unter Kathleen Angione ean Moloney Patri A Aang LAW OFFICES We Pec ome: Sarah M. Barbaccia Associate Attorneys Laura M. Carbo OF MARSHALL C. WATSON Amy M. Post Linda Chelvam Karen A Thompson Caryn A. Graham 1800 NORTH WEST 49TH STREET, SUITE #120 Scott R Weiss FORT LAUDERDALE, FLORIDA 33309 Of Counsel! John A. Watson July 10, 2007 NOTICE REQUIRED BY THE FAIR DEBT COLLECTION PRACTICES ACT 15 U.S.C. SECTION 1692, AS AMENDED RE: Property Address: 3633 ENID LANE NORTH PORT, FL 34288 125697316 Investor Loan #: Bi Owner: SARAH KIRCHNER Mortgagor: SARAH KIRCHNER Our File #: 07-09976 1. The Plaintiff, COUNTRYWIDE HOME LOANS, INC., is the creditor to whom the debt is owed by those individuals who are obligated under the promissory note and mortgage. 2. The debtor may dispute the validity of this debt, or any portion thereof, within 30 days of receipt of this Notice. If the debtor fails to dispute the debt within 30 days, the debt will be assumed valid by the creditor. 3. If the debtor notifies the creditor's law firm in writing within 30 days from receipt of this notice that the debt, or any portion thereof, is disputed, the creditor's law firm will obtain verification of the debt, or a copy of a judgment and a copy of the verification will be mailed to-the debtor by the creditor's law firm. Collection efforts, resulting in additional attorney fees and costs however, will continue during this 30 day period until this office receives the written request for verification. 4. If the creditor named herein is not the original creditor, and if the debtor makes a written request to the creditor's law firm Within 30 days of receipt of this Notice, the name and address of the original creditor will be mailed to the debtor by the creditor's law firm. Collection efforts, resulting in additional attorney fees and costs however, will continue during this 30 day period until this office receives the written request for the name and address of the original creditor. 9S. As of July 10, 2007, you owe a total amount of $326,732.98 in certified funds. Because of interest, late charges, and other 07-09976 Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 4 of 49charges that may vary from day to day, the amount due on the day you pay may be greater. Hence, if you pay the amount shown above, an adjustment may be necessary after we receive your certified funds, in which event we will inform you before depositing the check for collection. For further information, please call 1-800-441-2438. 6. Written requests pursuant to this notice should be addressed to PAIR DEBT COLLECTION CLERK, Marshall C. Watson, P.A. 7. This communication is for the purpose of collecting a debt, and any information obtained from the debtor will be used for that purpose. 8. The Law does not require me (the debt collector) to wait until the end of the thirty-day period before suing you (the consumer) to collect this debt. Once a lawsuit is commenced, all judicial remedies will be zealously pursued and attorney fees and costs, which you may be responsible for, in whole or in part, will be incurred. If, however, you request proof of the debt or the name and address of the original creditor within the thirty-day period which begins with your receipt of this letter, the law requires me to suspend my efforts (through litigation or otherwise) to collect the debt until I mail the requested information to you. Once the requested information is mailed to you litigation efforts will resume. 9. Even though you are required to file a response to the Lawsuit prior to the thirty (30) days, your validation rights, as set forth in this notice, shall not expire for thirty (30) days. 07~09976 Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 5 of 49o AD , b yp * After Recording Returm To: 0 COUNTRYWIDE HOME LOANS, INC. MS SV-79 DOCUMENT PROCESSING M 9.0.Box 10423 ECORDED IN OFFICIAL AECOROS STRIMENT # DOO6OT1210 21 PBS 2006 FEB 17 11:03 AM ___KAREN E. RUSHING CLERK OF THE CIRCUIT COURT SARASOTA COUNTY» FLORIDA CBETHEL Receipt#'750160 Doc Stame-Mort: 1,086.75 Intans. Tax: 621.00 £ an Nuys, CA 91410-0423 ) is document was prepared by: ILEEN BLYTH a = COUNTRYWIDE HOME LOANS, INC. c FL, Title tT {Space Above This Line For Recording Data] 00012569731601006 [Doc ID #] MORTGAGE MIN 1000157-0006324555-5 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) “Security Instrument" means this document, which is dated JANUARY 25, 2006 , together with al! Riders to this document. (B) "Borrower" is SARAH KIRCHNER Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage 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 mortgagee 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. (D) "Lender" is COUNTRYWIDE HOME LOANS, INC. Lender is a CORPORATION organizcd and existing under the laws of NEW YORK Lender's address is 4500 Park Granada MSN# SVB-314, Calabasas, CA 91302-1613 (E) "Note" means the promissory note signed by Borrower and dated JANUARY 25, 2006 . The Note states that Borrower owes Lender THREE HUNDRED TEN THOUSAND FIVE HUNDRED and 00/100 Dollars (U.S. $ 310,500.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not faterthan NOVEMBER 01, 2036 . (F) Property" means the property that is described below under the heading "Transfer of Rights in the Property." FLORIDA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT WITH MERS Page 1 of 11 BD sacri) (0005) CHL (98/05)(d) = VMP Mortgage Solutions, Inc. (800)521-7291 UY nn na oO oO SKC -__—__—_ = Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 6 of 49DOC ID #: 00012569731601006 (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 Instrumcnt, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders arc to be executed by Borrower [check box as applicable]: [x_] Adjustable Rate Rider _[__] Condominium Rider Second Home Rider Balloon Rider [__] Planned Unit Development Rider [Ji-4 Family Rider [_] VA Rider [| Biweekly Payment Rider [x] Other(s) [specify] OTC CONSTRUCTION MTG RDR (1) "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. (J) “Community Association Dues, Fees, and Assessments" means all 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, Or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale wansfers, 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, scttlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (#) damage to, or destruction of, the Property; (13) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) “Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (OQ) "Periodic Payment" means the regularly scheduled amount due for (i) principal and intcrest under the Note, plus (11) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 260! 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 toan” under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. 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 (ii) the performance of Borrower's covenants and agreements under this Secunty 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 to the successors and assigns of MERS, the following described property located in the COUNTY of CHARLOTTE [Type of Recording Jurisdiction] {Name of Recording Jurisdiction} SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. GD -sacre) (0008) CHL. (08/05) Page 2 of 11 Form 3010 1/01 SK eee Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 7 of 49DOC ID #: 00012569731601006 Parcel ID Number: which currently has the address of LOT 6 ENID LANE, NORTH PORT {Streev/City] Florida 33983 ("Property Address"): (Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and al] easements, appurtenances, and fixtures now or hereafter a part of the property. Al} replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to im this Secunty Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominec for Lender and Lender's successors and assigns) has the night: to exercise any or all of those interests, including, but not limited to, the night to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the nght to mortgage, grant and convey the Propeny and that the Property is unencumbered, except for encumbrances of record. 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 limited variations by jurisdiction to constitute a uniform security imstroument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall 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 to Section 3. Payments duc 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 Instrument is returned to Lender unpaid, Lender may require that any or all subsequcnt payments due under the Note and this Security Instrument be made in one or more of the followmg 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 an instituion whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed reccived 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 if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bing the Loan current, without waiver of any rights hereunder or prejudice to 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 unti] 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 shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepled and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) 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 to 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 to the delinquent payment and the latc charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and'to the extent that, each payment can 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 to any prepayment charges and then as described in the Note. > -BA(FL) (0005) CHL (08/05) Page 3 of 11 Form 3010 1/01 A Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 8 of 49DOC ID #: 90012569731601006 Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal 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 Paymenis are duc under the Note, unti! the Note is paid 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 Sccurity Instrument as a Jien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Inswrance premiums in accordance with the provisions of Section 10. These items are called “Escrow Items." At origination or at any 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 ducs, fees and assessments shal! be an Escrow Item. Borrowcr shall promptly furnish to Lender all notices of amounts to be paid 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 wniting. In the cvent of such waiver, Borrower shalt pay directly, when and where payable, the amounts duc for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such ume period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be decmed 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 directly, pursuant to a waiver, and Borrower fails to pay the amount duc for an Escrow Item, Lender may exercisc its 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 waiver as to any or all Escrow Items at any lime by a notice given in accordance with Scction 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 at 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 enuly (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 mterest 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 intcrest or earnings on the Funds. Borrower and Lender can agree in whiting, 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 is a 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 is a deficiency of Funds held in escrow, as defined under RESPA, Lender shail notify Borrower as required by RESPA, and Borrower shalt pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, bul in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4, Charges; Liens. Borrower shall pay all taxcs, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Asscssments, if any. To the extent that these items are Escrow licms, Borrower shall pay them in the manner provided in Section 3. Borrower shali promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the licn in a manner acceptable to Lender, but only so long as Borrower is performing such agrcement; (b) contests the lien in good faith by, or defends against enforcement of the licn in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the licn while those proceedings are pending, but only until such procecdings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Insuument. 1f Lender determines that any part of the Property is subject to a lien which can altain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. 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, QD -sa(Ft) (000s) CHL (08/05) Paga 4 of 11 Form 3010 1/01 SA Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 9 of 49DOC ID #: 00012569731601006 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 requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requircs. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right 10 disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower (0 pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a 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 fesulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lendcr's option and Borrower's expense. Lender is under no obligation to purchase any particular lype 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 liability and might provide greater or lesser coverage than was previously in effect. Borrower 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 Scction 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shali be payable, with such imterest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right lo disapprove such policies, shall include a standard mortgage clause, and shail name Lender as mortgagee and/or as an additional loss payee. Lender shal] have the right to hold the policics and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payce. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not madc promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shal} 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 has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shal] 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 is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eamings on such procceds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the imsurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shal] be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower, Such insurance proceeds 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 carricr has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby 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 right to any refund of uneamed 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 to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. GD -6A(FL) (0005) CHL. (08/05) Page 5 of 11 Form 3010 1/01 SK SS SSSR Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 10 of 49DOC ID #: 00012569731601006 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 onc ycar after the date of occupancy, unless Lender otherwise agrecs in wnting, which consent shall not be unreasonably withheld, or unless extenuating circumstanccs exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not 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 shal! maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation procceds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. 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. If the insurance or condemnation procecds are not sufficient to repair or restore the Property, Borrower is not reheved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make rcasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shail] give Borrower notice at the ume of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent pave materially false, misleading, or maccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but arc not limited to, 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 Sccurity Instrument. If (a) 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 (such as a procecding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a Jien which may attain priority over this Security Instrument or to enforce laws or regulauions), 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 nghts 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 Secunty Instrument; (b) appearing in court, and (c) paying reasonable attorneys’ fees to protect its interest in the Property and/or nghts under this Security Instrument, including its secured position in a bankrupicy proceeding. Securing the Property includes, but is nol limited to, entering the Property 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 take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is 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 intercst at 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 Secunty Instrument is on a leasehold, Borrower shall comply with all the provisions of the Icase. If Borrower acquires fee ttle to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as 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 requircd by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substanlally cquivalent 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 sclected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ccased to be in effect. Lender will accept, use and rctain these payments as a non-refundable loss reserve in lieu 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 10 pay Borrower any intercst or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance covcrage (in the & -~GA(FL) (0005) CHL (08/05) Page 6 of 11 Form 3010 1/01 ST Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 11 of 49DOC ID #: 00012569731601006 amount and for the penod that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separatcly designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintatn Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any wrillen agreement between Borrower and Lender providing for such termination or until termination is required by Applicabic 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 docs 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 terms and conditions that are satisfactory to the mortgage imsurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharmg or modifying the mortgage insurer's nsk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed “captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other Jaw. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 1t. Assigament of Miscellaneous Proceeds; Forfeiture. Ail Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shal! 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 shal] have the right to hold such Miscellaneous Proceeds until Lender has 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 pay for the rcpairs and restoration in a single disbursement or in a scrics of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Procecds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums securcd by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the cvent of a partial taking, destruction, or loss in value of the Property in which the fair markct value of the Property immediately before the partial taking, destruction, or Joss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or Joss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Sccurity Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market valuc of the Property immediately before the partial taking, destruction, or loss in valuc. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the [air market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums securcd immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agrec in writing, the Misce)lancous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. GD -sA(FL) (0005) CHL (08/05) Page 7 of 11 Form 3010 1/01 SW Filed for Record 07/11/2007 08:49 AM - Karen E. Rushing, Clerk of the Circuit Court - Sarasota County, FL - 2007 CA 007969 SC Dkt-77516054 Page 12 of 49DOC ID #: 00012569731601006 If the Property is abandoncd by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums sccured by this Security Instrument, whether or not then due. "Opposing Party” means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of acton in regard to Misccllaneous Proceeds. ° Borrower shall be in default if any action or proceeding, whether civid or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds thal are not applied to restoration or repair of the Property shall be applicd in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Secunty Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shail not operate to release the liability of Borrower or any Successors in Intcrest of Borrower. Lender shali not be required to commence proccedings against any Successor in Interest of Borrower or to rcfuse to extend time for payment or otherwise modify amortization of the sums secured by this Sccurity Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Severa) Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrecs that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest »n the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in wnting, and is approved by Lendcr, shall obtain all of Borrower's nights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees lo such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Bormower fees for services performed in connection with B