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IN THE CIRCUIT COURT FOR SARASOTA
COUNTY, FLORIDA. CIVIL DIVISION
CASE NO.
SOUTH POINT INC., Oo
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Plaintiff, BEE CO
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NEISSA W. JUAN; UNKNOWN TENANT NO. |: OS a ~
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PARTIES CLAIMING INTERESTS BY, THROUGH, “GES ~
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UNDER OR AGAINST A NAMED DEFENDANT
TO THIS ACTION, OR HAVING OR CLAIMING
TO HAVE ANY RIGHT, TITLE OR INTEREST IN
THE PROPERTY HEREIN DESCRIBED,
Defendants.
/
COMPLAINT
The Plaintiff, SOUTH POINT INC., sues the Defendants, NEISSA W. JUAN;
UNKNOWN TENANT NO. 1; UNKNOWN TENANT NO. 2; and ALL UNKNOWN PARTIES
CLAIMING INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT TO
THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN
THE PROPERTY HEREIN DESCRIBED, and alleges:
GENERAL ALLEGATIONS
l. JURISDICTION: This is an action for equitable relief or, alternatively, for damages,
which claims are within the subject matter jurisdiction of this Court.
2. VENUE: This is an action that involves parties and property located within the venue of
this Court and venue is otherwise proper pursuant to Chapter 47, Florida Statutes.
3. PARTIES: All parties to this action are properly before this Court and this Court has
~
eticpersonal jurisdiction over the parties.
4, CONDITIONS PRECEDENT: All conditions precedent to the filing of this action have
been met by Plaintiff.
5. EDCPA: Plaintiff hereby provides Defendant(s) with verification notice as required under
the Fair Debt Collection Practices Act (““FDCPA”) 15 U.S.C.A. 1692. If the Defendant(s) request
verification of the debt, Plaintiff shall suspend its efforts to collect the debt until Plaintiff mails the
requested information to the Defendant(s) requesting the verification. A copy of the notice is attached
hereto as Plaintiff's Exhibit “A”.
COUNT I
REESTABLISHMENT OF LOST PROMISSORY NOTE
Plaintiff realleges and restates the general allegations as more specifically set forth herein
6. REESTABLISH NOTE: This is an action to reestablish a promissory note in accordance
with Florida Statutes 673.3091.
7. OWNER OF NOTE: On or about OCTOBER 24, 2006, Defendant(s) NEISSA W.
JUAN executed a promissory note (the “note”) in the principal amount of $275,000.00. Plaintiff is the
owner and holder of the note.
8. ORIGINAL NOTE LOST: The original note has been lost and is not in the custody or
control of Plaintiff. The note was continuously in possession and control of Plaintiff's assignees and
predecessors from the date of its execution until the loss and has not been paid or otherwise satisfied,
assigned or transferred. Plaintiff's assignees and predecessors were in possession of the instrument and
entitled to enforce the note when the loss occurred.9. NO TRANSFER: The loss of possession of the note was not the result of a
transfer by the Plaintiff or its assignees and predecessors or a lawful seizure. Plaintiff cannot reasonably
obtain possession of the note because its whereabouts cannot be determined.
10. IRREPARABLE HARM: Plaintiff will suffer irreparable harm if the lost note is not
reestablished.
11. PARTIES IN INTEREST: The Defendants in the above-styled cause are the only
parties known to Plaintiff who are interested for or against the reestablishment of the lost note.
WHEREFORE, Plaintiff prays as follows:
a) that this Court will take jurisdiction of this cause and the parties hereto;
b) that this Court will enter a judgment reestablishing the lost note; and
Cc) that this Court will grant further relief as in its discretion might be meet and just.
COUNT Ii
MORTGAGE FORECLOSURE
Plaintiff realleges and restates the general allegations as more specifically set forth herein.
12. FORECLOSURE ACTION: This is an action to foreclose a mortgage on real property
(hereinafter the “property’’) in Sarasota County, Florida, more particularly described in the mortgage
attached hereto as part of composite Exhibit “B”’.13. EXECUTION AND DELIVERY OF NOTE & MORTGAGE: On OCTOBER 24,
2006, Defendant(s), NEISSA W. JUAN executed and delivered a promissory note (the “note’’) and
purchase money mortgage (the “mortgage”) securing payment of the same to MORTGAGE
ELECTRONIC REGISTRATION SYSTEMS, INC. AS NOMINEE FOR MORTGAGE LENDERS
NETWORK USA, INC., which mortgage was recorded as Instrument # 2006193924, of the public
records of Sarasota County, Florida, and which mortgaged the property. The property was then owned by
and in possession of the mortgagor.
14. OWNER OF THE NOTE & MORTGAGE: Plaintiff owns and holds the note and
mortgage.
[5. OWNER OF THE PROPERTY: The Defendant(s) NEISSA W. JUAN, own(s) the
property.
16. DEFAULT & ACCELERATION: The Plaintiff has not been paid the payment due
MARCH 1, 2007, and all subsequent payments, which has resulted in a default of the note and mortgage.
Plaintiff declares the full amount due under the note and mortgage to be accelerated.
17. AMOUNTS DUE: The Plaintiff is owed $274,847.03 that is due as principal on the
note and mortgage, interest from FEBRUARY 1, 2007, costs, advances and expenses as provided in the
note and mortgage.
18. ATTORNEYS FEES: Plaintiff has obligated itself to pay the undersigned attorneys a
reasonable fee for their services herein and is entitled to recover said fees pursuant to the terms of the
note and mortgage.INFERIOR CLAIMANTS:
19. Defendants, UNKNOWN TENANT NO. | and UNKNOWN TENANT NO. 2,
fictitious names representing tenants in possession, may claim some interest in the property that is the
subject of this foreclosure action by virtue of being in actual possession of same, but any interest said
Defendant(s) may claim in the subject property , if any, is subject and inferior to the lien of Plaintiff's
mortgage.
20. Defendants, ALL UNKNOWN PARTIES CLAIMING INTERESTS BY, THROUGH,
UNDER OR AGAINST A NAMED DEFENDANT TO THIS ACTION, OR HAVING OR
CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN THE PROPERTY HEREIN
DESCRIBED, may be interested in the subject matter of this action as unknown spouses, tenants, heirs,
devisees, grantees, assignees, lienors, creditors, trustees or other claimants by through, under or against a
known person who is dead or not known to be dead or alive or by virtue of any interest in or claim to the
property which is the subject of this action or otherwise as the case may be.
WHEREFORE, Plaintiff prays as follows:
a) That this Court will take jurisdiction of this cause, of 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 Defendants.
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 grant general relief in this cause as in its discretion might be meet and
just including, but not limited to, a deficiency judgment if the proceeds of the sale are insufficient to pay
Plaintiff's claim.
SMITH, HIATT & DIAZ, P.A.
Attorneys for Plaintiff
PO BOX 11438
Fort Lauderdale, FL 33339-1438
Telephone: (954) 564-0071
Vacsymiles (954) 564-925
J - J
LA, fH? AA vy
y: Robert A. Smith”
Florida Bar No. 116186
Patrice A. Tedescko
Florida Bar No. 0628451
AnneMarie H. Bui
Florida Bar No. 0030143
ry
* idFAIR DEBT COLLECTION PRACTICES ACT VALIDATION
Re: Creditor: SOUTH POINT INC.
Date: July 19, 2007
Promissory Note and Mortgage dated: OCTOBER 24, 2006
Debt Owed: As of the date of this verification, you owe $288,517.02. Because of interest, late
charges, attorneys’ fees and other charges 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 check, in which event we will inform you before depositing the
check for collection. For further information, write the undersigned or call collect (954)-564-
0071.
This communication is from a debt collector and this is an attempt to collect a debt owed and any
information obtained will be used for that purpose.
Unless you dispute this debt, or any portion of it, within thirty (30) days after you receive this notice,
the undersigned law firm will assume that said debt is valid.
If you notify the undersigned attorney in writing within the said thirty (30) day period that the
aforesaid debt, or any portion thereof, is disputed, the undersigned attorney will obtain written verification of
the debt and mail it to you.
Ifthe above creditor is not your original creditor and you submit a request within the thirty (30) day
period for the name and address of the original creditor, we will supply such information to you.
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 the thirty (30) days.
If you do dispute this debt in writing in the thirty (30) day period, we will suspend collection until we
send you verification.
SMITH, HIATT & DIAZ, P.A.
Attorneys for Plaintiff
PO BOX 11438
Fort Lauderdale, FL 33339-1438
Telephone: (954) 564-0071
Facsimile: (954) 564-9252
EXHIBIT “A”COMPOSITE EXHIBIT “B”RECORDED IN OFFICIAL ReCONDG
INSTRUMENT # 200173724 20 Poy
2006 NOV 02 05:48 PM
KAREN £. RUSHING
CLERK OF THE CIRCUIT COURT
3030074806
SARASOTA COUNTY FLORIDA
MORTGAGE LENDERS NETWORK USA, INC chan wet oes ao
213 COURT ST. MIDDLETOWN, CT 08457 Pac ramet ee
This document was prepared by:
MORTGAGE LENDERS NETWORK USA, INC.
213 Court St. Middletown CT 06457
EL
2006193924
—_——$ ue —_—__—_——_|Space Above This Line For Recordiog Data}- — ———
MORTGAGE
MIN 1062610-3030074806-7
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 Oc tober 24, 2006 ,
together with all Riders to this document.
(B) "Borrower" is
NEISSA W JUAN
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 MORTGAGE LENDERS NETWORK USA, INC.
FLORIDA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3010 1/01
@, -GA{FL) (0008).01
Page 1 of 16 rout lth | || it Hl |
VMP MORTGAGE FORMS - (800)521-72913030074806
Lender isa corporation or association
organized and existing under the laws of Delaware
Lender's address is 213 Court St. Middletown CT 06457
(E) “Note” means the promissory note signed by Borrower and dated October 24, 2006
The Note states that Borrower owes Lender Two Hundred Seventy-Five Thousand and
No/100 -------------------------------~-------.~-------- Dollars
(U.S. $ 275,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
Payments and to pay the debt in full not later than November 1, 2036 .
(F) “Property” means the property that is described below under the heading "Transfer of Rights in the
Property.”
(G) “Loan” means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
due under the Note, and all sums due under this Security Instrument, plus interest.
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicable]:
[—] Adjustable Rate Rider _[_] Condominium Rider [_] second Home Rider
Balloon Rider [_] Pianned Unit Development Rider L_] 1-4 Family Rider
VA Rider [_] Biweekly Payment Rider J Other(s) [specify]
Adjustable Rate Balloon
Rider
(I) "Applicable Law" means all controlling applicable federal, state and focal 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 arc 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, auwmated teller machine
transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
(L) “Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds paid by
any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any past of the Property;
(tii) 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.
(O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the
Note, plus (ii) any amounts under Section 3 of this Security Instrument.
inhlale:
ZD.-6A(FL) (0005).01 Page 2 of 16 Form 3010 1/03030074806
(P) "RESPA"™ means the Real Estate Scttlement Procedures Act (12 U.S.C. Section 2601 ct seq.) and its
implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from timc to time,
or any additonal or successor legislation or regulation that governs the same subject matier. 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 “fedcrally related morigage Ioan"
under RESPA.
(Q) "Successor in Interest of Borrower” means any parly that has taken title to the Property, whether or not
that party has assumed Borrower's obligations under the Note and/or this Sccurity 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
Sccurity Instrument and the Note. For this purposc, Borrowcr docs hereby mortgage, grant and convcy 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 ‘Type of Recording Jurisdiction{
of SARASOTA {Name of Recording Jurisdiction]:
Lot 3, Block 2573, FIFTY-FIRST ADDITION TQ PORT CHARLOTTE SUBDIVISON
Book 21, Pages 8, 8A through 8GG, of the Public Records of Sarasota County, Florida.
Parcel ID Number: which currently has the address of
5250 ANDRIS STREET [Street}
NORTH PORT ICity|, Florida 34288 |Zip Code}
("Property Address"):
FOGETHER WITH all the improvements now or hereafter erected on the property, and all easements
appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall als
be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
“Property.” Borrower understands and agrees that MERS holds only legal ule to the interests granted by
Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for
Lender and Lender’s successors and assigns) has the right: to exercise any or all of those interests, including,
but not limited tw, the right to forectose and sell the Property; and to take any action required of Lender
including, but not limited 10, releasing and canceling this Security Instrument.
Intlials:
Z. -6A(FL) (0005).01 Page Sat 16 j Form 3010 1/01
*
‘, as per plat thereof recorded in Plat3030074806
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has
the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for
encumbrances of record. Borrower warrants and will defend generally the till 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 instrument 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 due under the Note and this Security Instrument shall be madc in U.S.
currency. However, if any check or other instrument received by Lender as payment under the Note or this
Security Instrument is retumed to Lender unpaid, Lender may require that any or all subsequent payments
due under the Note and this Security Instrument be made in one or more of the following forms, as selected
by Lender: (a) cash; (b) money order, (c) certified check, bank check, treasurer’s check or cashier’s check,
provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at
such other location as may be designated by Lender in accordance with the notice provistons 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 bring 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 necd not pay interest on unapplied
funds. Lender may hoid such unapplied funds until Borrower makes payment to bring the Loan current. If
Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retum
them to Borrower. If not applied earlicr, 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 agrecments secured by this Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the
Note; (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
late 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
>. -GA(FL) (0005).01 Page 4 of 16 Form 3010 1/013030074806
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.
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 Payments are due under
the Note, until 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 Security Instrument as a lien or
encumbrance on the Property; (b) Ieasehold 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,
of any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance 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 dues, fees and assessments shal] be an Escrow Item.
Borrower shall promptly fumish 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 writing. In the event of such waiver, Borrower
shall pay directly, when and where payable, the amounts due 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 dme period as Lender may require. Borrower’s obligation to make such payments and
to provide receipts shail for all purposes be deemed to be a covenant and agreement contained in this Security
Instrument, as the phrase “covenant and agreement" is used in Section 9. If Borrower is obligated to pay
Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item,
Lender may exercise 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 10 any or all Escrow
Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall
pay to Lender all Funds, and in such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
the Funds 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 institation whose deposits are insured by a federal agency, instrumentality,
or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home
Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under
RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the
escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and
Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable
Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or
earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the
Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by
RESPA.
Inittala:
ZD.-BA(FL) (0005).01 Page $0! 16 \ Form 3010 1/013030074806
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 defmed under RESPA, Lender shall
notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up
‘ the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon payment in full 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 taxes, assessments, charges, fines, and impositions
atiributable 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 Assessments, if any. To the
extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or
defends against enforcement of the lien in, legal proceedings which in Lender’s opinion operate to prevent the
enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded;
or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this
Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain
priority 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.
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 shali be maintained in the amounts (including deductible levels) and for the periods that Lender
requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan.
The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's nght to
disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require
Borrower to 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 resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender’s option and Borrower’s expense. Lender is under no obligation to purchase any
particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not
protect Borrower, Borrower’s cquity in the Property, or the contents of the Property, against any risk, hazard
Initiate:
>. -6A(FL) (0005).01 Page 6 of 16 Form 3010 1/013030074806
or liability and might provide greater or lesser coverage than was previously in effect. Borrower
acknowledges that the cost of the imsurance coverage so obtained might significantly exceed the cost of
insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall
become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at
the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender
to Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's
right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as
mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal
certificates. If Lender requires, Borrower shall promptly give to Lender all 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 morgage clause and shall
name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to
hold such insurance proceeds until Lender 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 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 writng or Applicable Law requires
interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or
camings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be
paid out of the insurance 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 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 insurance proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and setile any available insurance claim
and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
begin when the notice 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 uneammed 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.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower’s principal residence
within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
>. -6A(FL) (o005).01 Page 7 of 16 Form 3010 1/013030074806
agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
exist which are beyond Borrower’s control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall 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 shall 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 proceeds are paid in -
connection with damage to, or the taking of, the Property, Borrower shali 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 proceeds are not sufficient wo repair or restore the Property,
Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give
Borrower notice at the time 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 gave materially false, misleading, or inaccurate information or statements to Lender (or failed to
provide Lender with material information) in connection with the Loan. Material representations include, but
are not limited to, representations conceming Borrower’s occupancy of the Property as Borrower's principal
residence.
9. Protection of Lender’s Interest in the Property and Rights Under this Security Instrument. If
(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 proceeding in bankruptcy, probate, for condemnation or forfeiture, for
enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
reasonable or appropriate to protect Lender’s interest in the Property and rights under this Security
Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing
the Property. Lender’s actions can include, but are not limited to: (a) paying any sums secured by a lien which
has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys’ fees to
protect its interest in the Property and/or rights under this Security Instrument, including its secured position
in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to
make repairs, change locks, replace or board up doors and windows, drain watcr from pipes, eliminate
building or other code violations or dangerous conditions, and have utilities tumed 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 interest at the Note rate from the date of
intials:
Gy -6A(FL) (0005).01 Page 8 of 16 Form 3010 1/013030074806
disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
ent,
it this Security Instrument is on a leaschold, Borrower shalf comply with all the provisions of the lease.
If Borrower acquires fee title 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 shail pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason,
the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that
previously provided such insurance and Borrower was required to make separately designated payments
toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage
substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to
the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer
selected by Lender. If substantially equivalent Mortgage Insurance coverage is not avdilable, Borrower shall
continue to pay to Lender the amount of the separately designated payments that were due when the insurance
coverage ceased to be in effect. Lender will accept, use and retain 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 shail not be required to pay Borrower any interest or earnings
on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in
the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes
available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage
Insurance. If Lender required Mortgage Insurance 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 maintain Mortgage Insurance in effect, or to provide a non-refundable loss
reserve, until Lender’s requirement for Mortgage Insurance ends in accordance with any written agreement
between Borrower and Lender providing for such termination or until termination is required by Applicable
Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may
incur if Borrower does not repay the Loan as agreed. Borrower is not a 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 insurer 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 agrcements, Lender, any purchaser of the Note, another imsurer, 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 sharing or modifying the mortgage insurer’s risk, 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 soch agreements wilt not affect the rights Borrower has - if any - with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. 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.
tahlat
C>-6A(FL) (0005).01 Page 9 of 16 Form 3010 1/013030074806
1]. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is ed, such Miscellaneous Proceeds shall be applied to restoration or repair of the
Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During
such repair and restoration period, Lender shall have the night 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 repairs and
restoration in a single disbursement 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 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 Proceeds 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 secured by this Security Instrument, whether or not then due, with the excess, if
any, paid to Borrower. . ; ;
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
value of the Property immediately before the partial taking, destruction, or loss 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 loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this
Security 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 value of the Property immediately before the partial taking,
destruction, or loss in value. 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 fair market
value of the Property immediately before the partial taking, destruction, or loss in value is less than the
amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
secured by this Security Instrument whether or not the sums are then due. ;
If the Property is abandoned 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 secured 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 action in regard to Miscellaneous
Proceeds.
Borrower shall be in default if any action or proceeding, whether civil 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 aliributable to the impairment of Lender’s interest in the Property are hereby assigned
and shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied
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 Security Instrument granted by Lender
Inttlate:
SD. -BA(FL) (0005).01 Page 100! 16 Form 3010 1/013030074806
to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or
any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any
Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization
of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or
any Successors in Interest of Borrower. Any forbcarance 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 Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and
agrees 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 in 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 che 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 writing, and is approved by Lender, shall obtain all of
Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from
Borrower's obligations and liability under this Security Instrument unless Lender agrees to 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 Borrower fees for services performed in connection with
Borrower's default, for the purpose of protecting Lender’s interest in the Property and rights under this
Securit
Preview
SO S S g Qs \ Q IN THE CIRCUIT COURT FOR SARASOTA COUNTY, FLORIDA. CIVIL DIVISION CASE NO. SOUTH POINT INC., Oo OA r— — 23> 77 = oan Plaintiff, BEE CO i. ess = 9 —{ a, “Ty i> Qey Nm = NEISSA W. JUAN; UNKNOWN TENANT NO. |: OS a ~ UNKNOWN TENANT NO. 2; and ALL UNKNOWN ee = 7 PARTIES CLAIMING INTERESTS BY, THROUGH, “GES ~ mes tw — Cad UNDER OR AGAINST A NAMED DEFENDANT TO THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN THE PROPERTY HEREIN DESCRIBED, Defendants. / COMPLAINT The Plaintiff, SOUTH POINT INC., sues the Defendants, NEISSA W. JUAN; UNKNOWN TENANT NO. 1; UNKNOWN TENANT NO. 2; and ALL UNKNOWN PARTIES CLAIMING INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT TO THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN THE PROPERTY HEREIN DESCRIBED, and alleges: GENERAL ALLEGATIONS l. JURISDICTION: This is an action for equitable relief or, alternatively, for damages, which claims are within the subject matter jurisdiction of this Court. 2. VENUE: This is an action that involves parties and property located within the venue of this Court and venue is otherwise proper pursuant to Chapter 47, Florida Statutes. 3. PARTIES: All parties to this action are properly before this Court and this Court has ~ eticpersonal jurisdiction over the parties. 4, CONDITIONS PRECEDENT: All conditions precedent to the filing of this action have been met by Plaintiff. 5. EDCPA: Plaintiff hereby provides Defendant(s) with verification notice as required under the Fair Debt Collection Practices Act (““FDCPA”) 15 U.S.C.A. 1692. If the Defendant(s) request verification of the debt, Plaintiff shall suspend its efforts to collect the debt until Plaintiff mails the requested information to the Defendant(s) requesting the verification. A copy of the notice is attached hereto as Plaintiff's Exhibit “A”. COUNT I REESTABLISHMENT OF LOST PROMISSORY NOTE Plaintiff realleges and restates the general allegations as more specifically set forth herein 6. REESTABLISH NOTE: This is an action to reestablish a promissory note in accordance with Florida Statutes 673.3091. 7. OWNER OF NOTE: On or about OCTOBER 24, 2006, Defendant(s) NEISSA W. JUAN executed a promissory note (the “note”) in the principal amount of $275,000.00. Plaintiff is the owner and holder of the note. 8. ORIGINAL NOTE LOST: The original note has been lost and is not in the custody or control of Plaintiff. The note was continuously in possession and control of Plaintiff's assignees and predecessors from the date of its execution until the loss and has not been paid or otherwise satisfied, assigned or transferred. Plaintiff's assignees and predecessors were in possession of the instrument and entitled to enforce the note when the loss occurred.9. NO TRANSFER: The loss of possession of the note was not the result of a transfer by the Plaintiff or its assignees and predecessors or a lawful seizure. Plaintiff cannot reasonably obtain possession of the note because its whereabouts cannot be determined. 10. IRREPARABLE HARM: Plaintiff will suffer irreparable harm if the lost note is not reestablished. 11. PARTIES IN INTEREST: The Defendants in the above-styled cause are the only parties known to Plaintiff who are interested for or against the reestablishment of the lost note. WHEREFORE, Plaintiff prays as follows: a) that this Court will take jurisdiction of this cause and the parties hereto; b) that this Court will enter a judgment reestablishing the lost note; and Cc) that this Court will grant further relief as in its discretion might be meet and just. COUNT Ii MORTGAGE FORECLOSURE Plaintiff realleges and restates the general allegations as more specifically set forth herein. 12. FORECLOSURE ACTION: This is an action to foreclose a mortgage on real property (hereinafter the “property’’) in Sarasota County, Florida, more particularly described in the mortgage attached hereto as part of composite Exhibit “B”’.13. EXECUTION AND DELIVERY OF NOTE & MORTGAGE: On OCTOBER 24, 2006, Defendant(s), NEISSA W. JUAN executed and delivered a promissory note (the “note’’) and purchase money mortgage (the “mortgage”) securing payment of the same to MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. AS NOMINEE FOR MORTGAGE LENDERS NETWORK USA, INC., which mortgage was recorded as Instrument # 2006193924, of the public records of Sarasota County, Florida, and which mortgaged the property. The property was then owned by and in possession of the mortgagor. 14. OWNER OF THE NOTE & MORTGAGE: Plaintiff owns and holds the note and mortgage. [5. OWNER OF THE PROPERTY: The Defendant(s) NEISSA W. JUAN, own(s) the property. 16. DEFAULT & ACCELERATION: The Plaintiff has not been paid the payment due MARCH 1, 2007, and all subsequent payments, which has resulted in a default of the note and mortgage. Plaintiff declares the full amount due under the note and mortgage to be accelerated. 17. AMOUNTS DUE: The Plaintiff is owed $274,847.03 that is due as principal on the note and mortgage, interest from FEBRUARY 1, 2007, costs, advances and expenses as provided in the note and mortgage. 18. ATTORNEYS FEES: Plaintiff has obligated itself to pay the undersigned attorneys a reasonable fee for their services herein and is entitled to recover said fees pursuant to the terms of the note and mortgage.INFERIOR CLAIMANTS: 19. Defendants, UNKNOWN TENANT NO. | and UNKNOWN TENANT NO. 2, fictitious names representing tenants in possession, may claim some interest in the property that is the subject of this foreclosure action by virtue of being in actual possession of same, but any interest said Defendant(s) may claim in the subject property , if any, is subject and inferior to the lien of Plaintiff's mortgage. 20. Defendants, ALL UNKNOWN PARTIES CLAIMING INTERESTS BY, THROUGH, UNDER OR AGAINST A NAMED DEFENDANT TO THIS ACTION, OR HAVING OR CLAIMING TO HAVE ANY RIGHT, TITLE OR INTEREST IN THE PROPERTY HEREIN DESCRIBED, may be interested in the subject matter of this action as unknown spouses, tenants, heirs, devisees, grantees, assignees, lienors, creditors, trustees or other claimants by through, under or against a known person who is dead or not known to be dead or alive or by virtue of any interest in or claim to the property which is the subject of this action or otherwise as the case may be. WHEREFORE, Plaintiff prays as follows: a) That this Court will take jurisdiction of this cause, of 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 Defendants. 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 grant general relief in this cause as in its discretion might be meet and just including, but not limited to, a deficiency judgment if the proceeds of the sale are insufficient to pay Plaintiff's claim. SMITH, HIATT & DIAZ, P.A. Attorneys for Plaintiff PO BOX 11438 Fort Lauderdale, FL 33339-1438 Telephone: (954) 564-0071 Vacsymiles (954) 564-925 J - J LA, fH? AA vy y: Robert A. Smith” Florida Bar No. 116186 Patrice A. Tedescko Florida Bar No. 0628451 AnneMarie H. Bui Florida Bar No. 0030143 ry * idFAIR DEBT COLLECTION PRACTICES ACT VALIDATION Re: Creditor: SOUTH POINT INC. Date: July 19, 2007 Promissory Note and Mortgage dated: OCTOBER 24, 2006 Debt Owed: As of the date of this verification, you owe $288,517.02. Because of interest, late charges, attorneys’ fees and other charges 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 check, in which event we will inform you before depositing the check for collection. For further information, write the undersigned or call collect (954)-564- 0071. This communication is from a debt collector and this is an attempt to collect a debt owed and any information obtained will be used for that purpose. Unless you dispute this debt, or any portion of it, within thirty (30) days after you receive this notice, the undersigned law firm will assume that said debt is valid. If you notify the undersigned attorney in writing within the said thirty (30) day period that the aforesaid debt, or any portion thereof, is disputed, the undersigned attorney will obtain written verification of the debt and mail it to you. Ifthe above creditor is not your original creditor and you submit a request within the thirty (30) day period for the name and address of the original creditor, we will supply such information to you. 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 the thirty (30) days. If you do dispute this debt in writing in the thirty (30) day period, we will suspend collection until we send you verification. SMITH, HIATT & DIAZ, P.A. Attorneys for Plaintiff PO BOX 11438 Fort Lauderdale, FL 33339-1438 Telephone: (954) 564-0071 Facsimile: (954) 564-9252 EXHIBIT “A”COMPOSITE EXHIBIT “B”RECORDED IN OFFICIAL ReCONDG INSTRUMENT # 200173724 20 Poy 2006 NOV 02 05:48 PM KAREN £. RUSHING CLERK OF THE CIRCUIT COURT 3030074806 SARASOTA COUNTY FLORIDA MORTGAGE LENDERS NETWORK USA, INC chan wet oes ao 213 COURT ST. MIDDLETOWN, CT 08457 Pac ramet ee This document was prepared by: MORTGAGE LENDERS NETWORK USA, INC. 213 Court St. Middletown CT 06457 EL 2006193924 —_——$ ue —_—__—_——_|Space Above This Line For Recordiog Data}- — ——— MORTGAGE MIN 1062610-3030074806-7 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 Oc tober 24, 2006 , together with all Riders to this document. (B) "Borrower" is NEISSA W JUAN 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 MORTGAGE LENDERS NETWORK USA, INC. FLORIDA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Form 3010 1/01 @, -GA{FL) (0008).01 Page 1 of 16 rout lth | || it Hl | VMP MORTGAGE FORMS - (800)521-72913030074806 Lender isa corporation or association organized and existing under the laws of Delaware Lender's address is 213 Court St. Middletown CT 06457 (E) “Note” means the promissory note signed by Borrower and dated October 24, 2006 The Note states that Borrower owes Lender Two Hundred Seventy-Five Thousand and No/100 -------------------------------~-------.~-------- Dollars (U.S. $ 275,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than November 1, 2036 . (F) “Property” means the property that is described below under the heading "Transfer of Rights in the Property.” (G) “Loan” means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [—] Adjustable Rate Rider _[_] Condominium Rider [_] second Home Rider Balloon Rider [_] Pianned Unit Development Rider L_] 1-4 Family Rider VA Rider [_] Biweekly Payment Rider J Other(s) [specify] Adjustable Rate Balloon Rider (I) "Applicable Law" means all controlling applicable federal, state and focal 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 arc 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, auwmated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) “Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any past of the Property; (tii) 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. (O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. inhlale: ZD.-6A(FL) (0005).01 Page 2 of 16 Form 3010 1/03030074806 (P) "RESPA"™ means the Real Estate Scttlement Procedures Act (12 U.S.C. Section 2601 ct seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from timc to time, or any additonal or successor legislation or regulation that governs the same subject matier. 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 “fedcrally related morigage Ioan" under RESPA. (Q) "Successor in Interest of Borrower” means any parly that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Sccurity 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 Sccurity Instrument and the Note. For this purposc, Borrowcr docs hereby mortgage, grant and convcy 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 ‘Type of Recording Jurisdiction{ of SARASOTA {Name of Recording Jurisdiction]: Lot 3, Block 2573, FIFTY-FIRST ADDITION TQ PORT CHARLOTTE SUBDIVISON Book 21, Pages 8, 8A through 8GG, of the Public Records of Sarasota County, Florida. Parcel ID Number: which currently has the address of 5250 ANDRIS STREET [Street} NORTH PORT ICity|, Florida 34288 |Zip Code} ("Property Address"): FOGETHER WITH all the improvements now or hereafter erected on the property, and all easements appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall als be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the “Property.” Borrower understands and agrees that MERS holds only legal ule to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender’s successors and assigns) has the right: to exercise any or all of those interests, including, but not limited tw, the right to forectose and sell the Property; and to take any action required of Lender including, but not limited 10, releasing and canceling this Security Instrument. Intlials: Z. -6A(FL) (0005).01 Page Sat 16 j Form 3010 1/01 * ‘, as per plat thereof recorded in Plat3030074806 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the till 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 instrument 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 due under the Note and this Security Instrument shall be madc in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is retumed to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order, (c) certified check, bank check, treasurer’s check or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provistons 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 bring 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 necd not pay interest on unapplied funds. Lender may hoid such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retum them to Borrower. If not applied earlicr, 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 agrecments secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (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 late 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 >. -GA(FL) (0005).01 Page 4 of 16 Form 3010 1/013030074806 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. 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 Payments are due under the Note, until 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 Security Instrument as a lien or encumbrance on the Property; (b) Ieasehold 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, of any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance 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 dues, fees and assessments shal] be an Escrow Item. Borrower shall promptly fumish 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 writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due 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 dme period as Lender may require. Borrower’s obligation to make such payments and to provide receipts shail for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase “covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise 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 10 any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds 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 institation whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. Inittala: ZD.-BA(FL) (0005).01 Page $0! 16 \ Form 3010 1/013030074806 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 defmed under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up ‘ the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full 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 taxes, assessments, charges, fines, and impositions atiributable 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 Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender’s opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority 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. 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 shali be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's nght to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to 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 resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender’s option and Borrower’s expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower’s cquity in the Property, or the contents of the Property, against any risk, hazard Initiate: >. -6A(FL) (0005).01 Page 6 of 16 Form 3010 1/013030074806 or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the imsurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all 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 morgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender 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 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 writng or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or camings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance 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 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 insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and setile any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice 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 uneammed 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. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower’s principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise >. -6A(FL) (o005).01 Page 7 of 16 Form 3010 1/013030074806 agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall 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 shall 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 proceeds are paid in - connection with damage to, or the taking of, the Property, Borrower shali 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 proceeds are not sufficient wo repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time 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 gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations conceming Borrower’s occupancy of the Property as Borrower's principal residence. 9. Protection of Lender’s Interest in the Property and Rights Under this Security Instrument. If (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 proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender’s interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender’s actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys’ fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain watcr from pipes, eliminate building or other code violations or dangerous conditions, and have utilities tumed 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 interest at the Note rate from the date of intials: Gy -6A(FL) (0005).01 Page 8 of 16 Form 3010 1/013030074806 disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting ent, it this Security Instrument is on a leaschold, Borrower shalf comply with all the provisions of the lease. If Borrower acquires fee title 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 shail pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not avdilable, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain 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 shail not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance 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 maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender’s requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a 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 insurer 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 agrcements, Lender, any purchaser of the Note, another imsurer, 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 sharing or modifying the mortgage insurer’s risk, 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 soch agreements wilt not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. 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. tahlat C>-6A(FL) (0005).01 Page 9 of 16 Form 3010 1/013030074806 1]. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is ed, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the night 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 repairs and restoration in a single disbursement 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 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 Proceeds 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 secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. . ; ; In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss 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 loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security 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 value of the Property immediately before the partial taking, destruction, or loss in value. 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 fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. ; If the Property is abandoned 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 secured 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 action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil 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 aliributable to the impairment of Lender’s interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied 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 Security Instrument granted by Lender Inttlate: SD. -BA(FL) (0005).01 Page 100! 16 Form 3010 1/013030074806 to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbcarance 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 Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees 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 in 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 che 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 writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to 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 Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender’s interest in the Property and rights under this Securit