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IN THE CIRCUIT COURT OF THE 12TH JUDICIAL
CIRCUIT, IN AND FOR SARASOTA COUNTY, FLORIDA
GENERAL JURISDICTION DIVISION
CASE NO:
DEUTSCHE BANK NATIONAL TRUST
COMPANY F/K/A BANKERS TRUST ZO 6 ‘1CA O i OF 3 5 C
COMPANY OF CALIFORNIA, NATIONAL
ASSOCIATION
PLAINTIFF 3 -
VS. “n — 2 m™
2578 —
Q } RP Se ty
THOMAS J. EVERS; DEBORAH J. EVERS; How &
ANY AND ALL UNKNOWN PARTIES = a = o
CLAIMING BY, THROUGH, UNDER, AND a -) — 79
AGAINST THE HEREIN NAMED efe - 2
INDIVIDUAL DEFENDANT(S) WHO ARE FOR Te E
NOT KNOWN TO BE DEAD OR ALIVE, xo ¥ WO
WHETHER SAID UNKNOWN PARTIES MAY = Gr" 49 <2
CLAIM AN INTEREST AS SPOUSES, HEIRS, = oO
DEVISEES, GRANTEES OR OTHER
CLAIMANTS; JOHN DOE AND JANE DOE AS
UNKNOWN TENANTS IN POSSESSION
DEFEN DANI S
COMPLAINT TO FORECLOSE MORTGAGE
AND TO ENFORCE LOST LOAN DOCUMENTS
Plaintiff, sues the Defendant(s) and alleges:
COUNT I
1. THIS IS AN ACTION to foreclose a Mortgage on real property in SARASOTA County, Florida.
2. This Court has jurisdiction over the subject matter herein.
3.
On SEPTEMBER 9, 2004 THOMAS J. EVERS AND DEBORAH J. EVERS executed and delivered a
Promissory Note and a Mortgage securing payment of the Note to the Payee named thereon.
The Mortgage was recorded on SEPTEMBER 13, 2004 in Official Records CLERK# 2004176851, of the
Public Records of SARASOTA County, Florida, and mortgaged the property described in it, then owned by
and possessed by the Mortgagors, a copy of the Mortgage IS attached hereto as "Exhibit "A". Said
mortgage was subsequently assigned to DEUTSCHE BANK NATIONAL TRUST COMPANY F/K/A
BANKERS TRUST COMPANY OF CALIFORNIA, NATIONAL ASSOCIATION by virtue of an
assignment to be recorded.
5. The Plaintiff owns and holds the Note and Mortgage.
The property is now owned by the Defendant(s), THOMAS J. EVERS AND DEBORAH J. EVERS , if
living and if dead, the unknown spouses, heirs and beneficiaries of THOMAS J. EVERS AND DEBORAH
J. EVERS who hold(s) possession.
There is a default under the terms of the note and mortgage for the MARCH 1, 2007 payment and all
payments due thereafter.
All conditions precedent to the acceleration of this Mortgage Note and to foreclosure of the Mortgage have
been fulfilled or have occurred.
The Plaintiff declares the full amount payable under the Note and Mortgage to be due.
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The borrowers owe Plaintiff $67,674.95 that is due in principal on the Mortgage Note and Mortgage,
together with interest from FEBRUARY 1, 2007, late charges, and all costs of collection including title
search expenses for ascertaining necessary parties to this action and reasonable attorney's fees.
Plaintiff is obligated to pay its attorney a reasonable fee for his services rendered.
Defendants, John Doe and Jane Doe, may claim an interest in the property described in the Mortgage as
tenants pursuant to a lease agreement, either written or oral. Said interest is subject, subordinate, and
inferior to the lien of the Mortgage held by Plaintiff.
In addition to all other named defendants, the unknown spouses, heirs, devisees, grantees, assignees,
creditors, trustees, successors in interest or other parties claiming an interest in the subject property by,
through under or against any of said defendants, whether natural or corporate, who are not known to be
alive or dead, dissolved or existing, are joined as defendants herein. The claims of any of said parties are
subject, subordinate, and inferior to the interest of Plaintiff.
WHEREFORE, Plaintiff prays: That an accounting may be had and taken under the direction of this Court
of what is due the Plaintiff for principal and interest on said Mortgage and Mortgage Note, and for the costs, charges
and expenses, including attorney's fees and title search costs, and advancements which Plaintiff may be put to or
incur in and about this suit, and that the Defendants found responsible for same be ordered to pay the Plaintiff herein
the amounts so found to be due it; that in default of such payments, all right, title, interest, claim, demand, or equity
of redemption of the Defendants and all other persons claiming by, through, under or against said Defendants since
the filing of the Lis Pendens herein be absolutely barred and foreclosed and that said mortgage property be sold
under the direction of this Court; that out of the proceeds of said sale, the amounts due the Plaintiff may be paid so
far as same will suffice; and that a deficiency judgment be entered if applicable and only in the event no Order of
Discharge of Personal Liability in Bankruptcy has been entered as to any of the Defendants who signed the subject
Note and Mortgage and a Writ of Possession be issued.
17.
COUNT II
This is an action to enforce a lost, destroyed or stolen promissory note and Mortgage under
Fla.Stat.§673.3091.
On SEPTEMBER 9, 2004, THOMAS J. EVERS AND DEBORAH J. EVERS, executed and delivered a
Promissory Note and a Mortgage securing payment of the Note to the payee named thereon.
The Mortgage was recorded on SEPTEMBER 13, 2004 in Official Records CLERK# 2004176851, of the
Public Records of SARASOTA County, Florida, a substantial copy of the Mortgage being attached hereto
as composite Exhibit “A” to the Plaintiff's original Complaint herein.
The Plaintiff is not presently in possession of original Note and Mortgage. However,
a) the Plaintiff was in possession of the Note and Mortgage and was entitled to enforce THEM when
the loss of possession occurred;
b) the loss of possession was not the result of a transfer by Plaintiff or lawful seizure; and
Cc) the Plaintiff cannot reasonably obtain possession of the Note and Mortgage because THEIR
whereabouts cannot be determined.
The terms of the Note are shown on the attached ledger of loan marked as Exhibit “ (> «19. The Plaintiff will agree to entry of a Final Judgment of Foreclosure wherein it will be required to indemnify
and hold harmless Defendant(s), THOMAS J. EVERS AND DEBORAH J. EVERS, from any loss they
may incur by reason of a claim by another person to enforce the lost Note and Mortgage.
WHEREFORE, Plaintiff requests entry of judgment confirming its right to enforce the lost Note and
Mortgage under Fla. Stat.§673.3091.
TO ALL DEFENDANTS: PLEASE NOTE EFFECTIVE OCTOBER 13, 2006, 15 U.S.C. §1692G OF THE
FAIR DEBT COLLECTION PRACTICES ACT HAS BEEN AMENDED AS FOLLOWS:
(a) LEGAL PLEADINGS -- Section 809 of the Fair Debt Collection Practices Act (15 U.S.C. 1692g) is
amended by adding at the end the following new subsection:
''(d) Legal Pleadings -- A communication in the form of a formal pleading in a civil action shall not
be treated as an initia] communication for purposes of subsection (a)."'
IDR
ELSA HERNANDEZ SHUM
Law Offices of David J. Stern, P.A.
Attorney for Plaintiff
801 S. University Drive Suite 500
Plantation, FL 33324
(954) 233-8000
07-91963(GMAP) Bar #: 0029554
F:\GROUPS\FCDOCS\COMPLAIN\07\07-9 1963, CMPIMAGE01 :, FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/1 76851
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RECORD IN OFFICIAL REN
INGTRURENT & 200417604
2004 SEP
i Pas
135 01:41 PM
KAREN E. RUSHING
This Instrument Prepared By:
After Recording Return Jo:
2004176851
NSS
5 Culeloratige Pl Le
SU TY
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[Space Above This Line For Recording Data]
MORTGAGE
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 SEPTEMBER 9 , 2004 , together
with all Riders to this document.
(B) “Borrower” is THOMAS J EVERS AND DEBORAH J EVERS
Borrower ts 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 IMPAC FUNDING CORPORATION dba IMPAC LENDING GROUP
Lender tsa CALIFORNIA CORPORATION organized
and existing under the laws of CALIFORNIA :
Lender's address is 1401 DOVE STREET, NEWPORT BEACH, CALIFORNIA 92660
(E} “Note” means the promissory note signed by Borrower and dated SEPTEMBER 9, 2004
The Note states that Borrower owes Lender SEVENTY THOUSAND AND 00/100
Dollars (U.S. $ 70, 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
OCTOBER 1, 2034 .
(F) “Property” means the property that is described below under the heading “Transfer of Rights in the Property.”
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CLERK OF THE CIRCUIT COURT
SARASOTA COUNTY, FLORIDA
RAGIORDA Receipt #523499
— Doc Stamp-Nort: 945.
Intans. Tax: 140.00
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INSTRUMENT & 2208176851
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(G) “Loan” means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under
the Note, and all sums due under this Security Instrument, plus Interest.
(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 [x} Second Home Rider
(‘} Balloon Rider [_) Planned Unit Development Rider [] Othes(s) [specify}
[X] 1-4 Family Rider (1) Biweekly Payment Rider
() “Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial
opinions.
(J) "Community Association Dues, Fees, and Assessments” means all dues, fees, assessments and other charges
that are imposed on Borrower or the Property by a condominium association, homeowners association or similar
tion.
(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 transfers, automated teller machine transactions, transfers initiated by
telephone, wire transfers, and automated clearinghouse transfers.
(L) “Escrow Items" means those items that are described in Section 3.
(M) “Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds 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; (li) condemnation or other taking of all or any past of the Property: (iii) conveyance In
lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property.
(N) “Mortgage Insurance” means insurance protecting Lender against the nonpayment of, or default on, the Loan.
(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.
(P) "RESPA” means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing
regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or
successor legislation or regulation that governs the same subject matter. As used in this Security Instrument,
“RESPA" refers to all requirements and restrictions that are imposed in regard to a “federally related mortgage loan”
even if the Loan does not qualify as a "federally related mortgage loan" under RESPA.
(Q) "Successor in Interest of Borrower" means any party that has taken tide to the Property, whether or not that
party has assumed Borrower's obligations under the Note and/or this Security Instrument.
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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 Security Instrument and the Note.
Far this purpose, Borrower does hereby martgage, grant and convey to MERS (solely as nominee for Lender and Lender's
Successors and assigns) and to the successors and assigns of MERS, the following described property located in the
COUNTY of SARASOTA :
[Type of Recording Jurisdiction} (Name of Recording Jurisdiction]
LOT 27, QUEEN PALMS, AS PER PLAT THEREOF RECORDED IN PLAT BOOK
11, PAGE 10, OF THE PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA.
A.P.N. #: 0710-13-0013
which currently has the address of 527 ACACIA LANE
[Street]
NOKOMIS , Florida 34275 ("Property Address”):
[City] [Zip Code}
TOGETHER WITH all the improvements now or hereafter erected on the property, and al} easements,
appurtenances, and fixtures now or hereafter a part of the property. Ali replacements and additions shall also be
covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
Borrower understands and agrees thal MERS holds only legal tile 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 al! of those interests, including, but not limited to, the right to foreclose
and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling
this Security Instrument. .
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the 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 title to the Property against all claims and demands, subject
to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
limited varlations 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
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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 made in U.S. currency. However, if any check or other
instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,
Lender may require that any or all 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 provisions in Section 15. Lender may return
any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender
may accept any payment or partial payment insufficlent 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 ts not
obligated to apply such payments at the time such payments are accepted. If each Perfodic Payment is applied as of
its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of
time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due
under the Note and this Security Instrument or performing the covenants and agreements secured by this Security
Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
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 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) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
required by Lender under Section 5; and (d) Mortgage Insurance premlums, if any, or 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
assessinents shall be an Escrow Item. Borrower shal] promptly furnish to Lender all notices of amounts to be paid
under this Sectlon. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
obligation to pay the Funds for any or afl Escrow Items. Lender may waive Borrower's obligation to pay to Lender
FLORIDA--Single Famity-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS Dochhagic GfFavmas 800-649-1362
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INSTRUMENT # 2604176851
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a waiver, and Borrower falls to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
§ and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount.
Lender may revoke the waiver as to any or all Escrow Items at any 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 institution whose deposits are insured by a federal agency, instrumentality, or
entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan
Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender
shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make
such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree
in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
annual accounting of the Funds as required by RESPA.
if there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for
the excess funds in accordance with RESPA. If there 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 so more than 12 monthly payments. If there is a deficiency of
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 attributable to
the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the
Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items
are Escrow Items, Borrowers 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 Hen 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 Hen an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
determines that any past of the Property is subject to a lien which can attain priority over this Security Instrument,
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INSTRUMENT # 2008176051
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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.
Property insured against loss by fire, hazards included within the term “extended coverage," and any other hazards
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
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
equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater
or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so
obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
by Lender under this Section 5 shal! 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 cestificates. If Lender requires,
Borrower shall promptly give to Lender all receipts of patd premiums and renewal notices. If Borrower obtains any
form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
payee.
{n the event of lass, 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 ts 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 writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
retained by Borrower shall not be 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
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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 settle any available insurance claim and
related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the
notice 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 cight to any refund
of unearned premiums paid by Borrower) under all insurance polictes 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 tc occupy the Property as Borrower's
principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall 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. Uniess 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 shall be responsible for repairing or restoring the Property only if Lender has released
proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in
a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
to 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 interlor 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 entittes 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 concerning Borrower's occupancy of the Property as Borrower's principal residence.
8. 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 Hen 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 ia the Property and/or rights under this Security Instrument; including its secured
FLORIDA-Singfe Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS Docttagic GRICWES 800-649-1362
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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 water from pipes, eliminate building or
other code violations or dangerous conditions, and have utilities trned 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 disbursement and shall be
payable, with such interest, upon notice from Lender to Borrower requesting payment.
If this Security Instrument Is on a leasehold, Borrower shall comply with all the provisions of the lease. 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
shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
insurance and Borrower was required 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 available, Borrower shall continue to pay to Lender the amount of the separately designated
payments that were due when the insurance coverage ceased (o 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 shall not be required to pay Borrower any
interest of earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance
coverape (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 Martgage 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 ts required by Applicable Law. Nothing in this Section
10 affects Borrower's obligation to pay {aterest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) fer certain losses it may incur
if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
Mortgage insurers evaluate their total risk on all such Insurance in force from time to time, and may enter into
agreements with other parties that share or modify their risk, or reduce losses. These agreements are on 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 agreements, Lender, any purchaser of the Note, another insurer, any retnsurer, 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:
i
F LORIDA--Singte Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic GRITUnS 900-649-1362
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INSTRUMENT # 200417685(
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(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 awe
for Mortgage Insurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage
Insurance under the Homeowners Protection Act of 1998 or any other 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.
Il. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to
and shall be paid to Lender.
If the Property Is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,
if the restoration or repair ts economically feasible and Lender's security is not lessened. During such repair and
restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an
opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
such inspection shal} be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement
or in a sertes 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, desteuction, 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 [nstrument, 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, ts 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
FLORIDA Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic CFermns 900-649-1362
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as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's
Judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or
rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the
impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender.
All Miscellaneous Proceeds 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 to Borrower of 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
forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of
payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then
due, shal} 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 (¢) agrees that Lender and any other
Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security
Instrument or the Note without the co-signer'’s consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's
obligations under this Security Instrument in 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 Hability
under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this
Security Instrument shal] 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 Security Instrument,
including, but not limited to, attorneys’ fees, property inspection and valuation fees. In regard to any other fees, the
absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed
as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security
Instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law ts finally interpreted so that the
interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits,
then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit:
and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower.
Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment
to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any
prepayment charge (whether or not a prepayment charge ts provided for under the Note). Borrower's acceptance of
any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might
have arising out of such ov: .
45. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in
writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to
Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other
FLORIDA Single Famity-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic CAnmms 200-649-1362
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IASTRUMENT # 2004476851
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means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires
otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice
address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender
specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address
through that specified procedure. There may be only one designated notice address under this Security Instrument
at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's
address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection
with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender.
ff any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law
requirement will satisfy the corresponding requirement under this Security Instrument.
16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by
federal law and the law of the jurisdiction in which the Property fs located. All rights and obligations contained in
this S
Preview
IN THE CIRCUIT COURT OF THE 12TH JUDICIAL CIRCUIT, IN AND FOR SARASOTA COUNTY, FLORIDA GENERAL JURISDICTION DIVISION CASE NO: DEUTSCHE BANK NATIONAL TRUST COMPANY F/K/A BANKERS TRUST ZO 6 ‘1CA O i OF 3 5 C COMPANY OF CALIFORNIA, NATIONAL ASSOCIATION PLAINTIFF 3 - VS. “n — 2 m™ 2578 — Q } RP Se ty THOMAS J. EVERS; DEBORAH J. EVERS; How & ANY AND ALL UNKNOWN PARTIES = a = o CLAIMING BY, THROUGH, UNDER, AND a -) — 79 AGAINST THE HEREIN NAMED efe - 2 INDIVIDUAL DEFENDANT(S) WHO ARE FOR Te E NOT KNOWN TO BE DEAD OR ALIVE, xo ¥ WO WHETHER SAID UNKNOWN PARTIES MAY = Gr" 49 <2 CLAIM AN INTEREST AS SPOUSES, HEIRS, = oO DEVISEES, GRANTEES OR OTHER CLAIMANTS; JOHN DOE AND JANE DOE AS UNKNOWN TENANTS IN POSSESSION DEFEN DANI S COMPLAINT TO FORECLOSE MORTGAGE AND TO ENFORCE LOST LOAN DOCUMENTS Plaintiff, sues the Defendant(s) and alleges: COUNT I 1. THIS IS AN ACTION to foreclose a Mortgage on real property in SARASOTA County, Florida. 2. This Court has jurisdiction over the subject matter herein. 3. On SEPTEMBER 9, 2004 THOMAS J. EVERS AND DEBORAH J. EVERS executed and delivered a Promissory Note and a Mortgage securing payment of the Note to the Payee named thereon. The Mortgage was recorded on SEPTEMBER 13, 2004 in Official Records CLERK# 2004176851, of the Public Records of SARASOTA County, Florida, and mortgaged the property described in it, then owned by and possessed by the Mortgagors, a copy of the Mortgage IS attached hereto as "Exhibit "A". Said mortgage was subsequently assigned to DEUTSCHE BANK NATIONAL TRUST COMPANY F/K/A BANKERS TRUST COMPANY OF CALIFORNIA, NATIONAL ASSOCIATION by virtue of an assignment to be recorded. 5. The Plaintiff owns and holds the Note and Mortgage. The property is now owned by the Defendant(s), THOMAS J. EVERS AND DEBORAH J. EVERS , if living and if dead, the unknown spouses, heirs and beneficiaries of THOMAS J. EVERS AND DEBORAH J. EVERS who hold(s) possession. There is a default under the terms of the note and mortgage for the MARCH 1, 2007 payment and all payments due thereafter. All conditions precedent to the acceleration of this Mortgage Note and to foreclosure of the Mortgage have been fulfilled or have occurred. The Plaintiff declares the full amount payable under the Note and Mortgage to be due. (fO ae a ea =e Eo EEE tT — —_— — oS — — rf... Ss OW ——~- a. — fo a) Car10. 11. 13. The borrowers owe Plaintiff $67,674.95 that is due in principal on the Mortgage Note and Mortgage, together with interest from FEBRUARY 1, 2007, late charges, and all costs of collection including title search expenses for ascertaining necessary parties to this action and reasonable attorney's fees. Plaintiff is obligated to pay its attorney a reasonable fee for his services rendered. Defendants, John Doe and Jane Doe, may claim an interest in the property described in the Mortgage as tenants pursuant to a lease agreement, either written or oral. Said interest is subject, subordinate, and inferior to the lien of the Mortgage held by Plaintiff. In addition to all other named defendants, the unknown spouses, heirs, devisees, grantees, assignees, creditors, trustees, successors in interest or other parties claiming an interest in the subject property by, through under or against any of said defendants, whether natural or corporate, who are not known to be alive or dead, dissolved or existing, are joined as defendants herein. The claims of any of said parties are subject, subordinate, and inferior to the interest of Plaintiff. WHEREFORE, Plaintiff prays: That an accounting may be had and taken under the direction of this Court of what is due the Plaintiff for principal and interest on said Mortgage and Mortgage Note, and for the costs, charges and expenses, including attorney's fees and title search costs, and advancements which Plaintiff may be put to or incur in and about this suit, and that the Defendants found responsible for same be ordered to pay the Plaintiff herein the amounts so found to be due it; that in default of such payments, all right, title, interest, claim, demand, or equity of redemption of the Defendants and all other persons claiming by, through, under or against said Defendants since the filing of the Lis Pendens herein be absolutely barred and foreclosed and that said mortgage property be sold under the direction of this Court; that out of the proceeds of said sale, the amounts due the Plaintiff may be paid so far as same will suffice; and that a deficiency judgment be entered if applicable and only in the event no Order of Discharge of Personal Liability in Bankruptcy has been entered as to any of the Defendants who signed the subject Note and Mortgage and a Writ of Possession be issued. 17. COUNT II This is an action to enforce a lost, destroyed or stolen promissory note and Mortgage under Fla.Stat.§673.3091. On SEPTEMBER 9, 2004, THOMAS J. EVERS AND DEBORAH J. EVERS, executed and delivered a Promissory Note and a Mortgage securing payment of the Note to the payee named thereon. The Mortgage was recorded on SEPTEMBER 13, 2004 in Official Records CLERK# 2004176851, of the Public Records of SARASOTA County, Florida, a substantial copy of the Mortgage being attached hereto as composite Exhibit “A” to the Plaintiff's original Complaint herein. The Plaintiff is not presently in possession of original Note and Mortgage. However, a) the Plaintiff was in possession of the Note and Mortgage and was entitled to enforce THEM when the loss of possession occurred; b) the loss of possession was not the result of a transfer by Plaintiff or lawful seizure; and Cc) the Plaintiff cannot reasonably obtain possession of the Note and Mortgage because THEIR whereabouts cannot be determined. The terms of the Note are shown on the attached ledger of loan marked as Exhibit “ (> «19. The Plaintiff will agree to entry of a Final Judgment of Foreclosure wherein it will be required to indemnify and hold harmless Defendant(s), THOMAS J. EVERS AND DEBORAH J. EVERS, from any loss they may incur by reason of a claim by another person to enforce the lost Note and Mortgage. WHEREFORE, Plaintiff requests entry of judgment confirming its right to enforce the lost Note and Mortgage under Fla. Stat.§673.3091. TO ALL DEFENDANTS: PLEASE NOTE EFFECTIVE OCTOBER 13, 2006, 15 U.S.C. §1692G OF THE FAIR DEBT COLLECTION PRACTICES ACT HAS BEEN AMENDED AS FOLLOWS: (a) LEGAL PLEADINGS -- Section 809 of the Fair Debt Collection Practices Act (15 U.S.C. 1692g) is amended by adding at the end the following new subsection: ''(d) Legal Pleadings -- A communication in the form of a formal pleading in a civil action shall not be treated as an initia] communication for purposes of subsection (a)."' IDR ELSA HERNANDEZ SHUM Law Offices of David J. Stern, P.A. Attorney for Plaintiff 801 S. University Drive Suite 500 Plantation, FL 33324 (954) 233-8000 07-91963(GMAP) Bar #: 0029554 F:\GROUPS\FCDOCS\COMPLAIN\07\07-9 1963, CMPIMAGE01 :, FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/1 76851 QO | Poet 4 E Cele RECORD IN OFFICIAL REN INGTRURENT & 200417604 2004 SEP i Pas 135 01:41 PM KAREN E. RUSHING This Instrument Prepared By: After Recording Return Jo: 2004176851 NSS 5 Culeloratige Pl Le SU TY lo AHOw H{D [Space Above This Line For Recording Data] MORTGAGE 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 SEPTEMBER 9 , 2004 , together with all Riders to this document. (B) “Borrower” is THOMAS J EVERS AND DEBORAH J EVERS Borrower ts 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 IMPAC FUNDING CORPORATION dba IMPAC LENDING GROUP Lender tsa CALIFORNIA CORPORATION organized and existing under the laws of CALIFORNIA : Lender's address is 1401 DOVE STREET, NEWPORT BEACH, CALIFORNIA 92660 (E} “Note” means the promissory note signed by Borrower and dated SEPTEMBER 9, 2004 The Note states that Borrower owes Lender SEVENTY THOUSAND AND 00/100 Dollars (U.S. $ 70, 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 OCTOBER 1, 2034 . (F) “Property” means the property that is described below under the heading “Transfer of Rights in the Property.” FLORIDA. “Single Family--Fannie Maa/Freddie Mac UNIFORM INSTRUMENT - MERS DocMegic CPGrmMs 200-649-1362 Form 3010 1/01 Page 1 of 15 . www.docmagic.com DIE WME MA CLERK OF THE CIRCUIT COURT SARASOTA COUNTY, FLORIDA RAGIORDA Receipt #523499 — Doc Stamp-Nort: 945. Intans. Tax: 140.00 AAP 00 eee, Sf Page 1 of 20IMAGE01 : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 2 of 20 INSTRUMENT & 2208176851 : 20 Pas (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 [x} Second Home Rider (‘} Balloon Rider [_) Planned Unit Development Rider [] Othes(s) [specify} [X] 1-4 Family Rider (1) Biweekly Payment Rider () “Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments” means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar tion. (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 transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) “Escrow Items" means those items that are described in Section 3. (M) “Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds 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; (li) condemnation or other taking of all or any past of the Property: (iii) conveyance In lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) “Mortgage Insurance” means insurance protecting Lender against the nonpayment of, or default on, the Loan. (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. (P) "RESPA” means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, “RESPA" refers to all requirements and restrictions that are imposed in regard to a “federally related mortgage loan” even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken tide to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. FLORIDA-- Famity--Fannie Mae/Fraddie Mac UNIFORM INSTRUMENT - MERS DochMegic CPITanS 800-649-1362 Form 3010 1/01 Page 2 of 15 www .docmegic.com mon YE BEY TE PohIMAGEO1 : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 3 of 20 SRR aS 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 Security Instrument and the Note. Far this purpose, Borrower does hereby martgage, grant and convey to MERS (solely as nominee for Lender and Lender's Successors and assigns) and to the successors and assigns of MERS, the following described property located in the COUNTY of SARASOTA : [Type of Recording Jurisdiction} (Name of Recording Jurisdiction] LOT 27, QUEEN PALMS, AS PER PLAT THEREOF RECORDED IN PLAT BOOK 11, PAGE 10, OF THE PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA. A.P.N. #: 0710-13-0013 which currently has the address of 527 ACACIA LANE [Street] NOKOMIS , Florida 34275 ("Property Address”): [City] [Zip Code} TOGETHER WITH all the improvements now or hereafter erected on the property, and al} easements, appurtenances, and fixtures now or hereafter a part of the property. Ali replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees thal MERS holds only legal tile 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 al! of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. . BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the 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 title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited varlations 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 form 3010 1 mam LYE O9e wy AB Evo FLORIDA Singie Famity~Fannie Mae/Freddie Mec UNIFORM INSTRUMENT - MERS Dochhagic CPQTUNS £00-649-1362IMAGE01 : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 4 of 20 ISTRIEIT #2984 7686 mS 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 made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all 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 provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficlent 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 ts not obligated to apply such payments at the time such payments are accepted. If each Perfodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments 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 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) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premlums, if any, or 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 assessinents shall be an Escrow Item. Borrower shal] promptly furnish to Lender all notices of amounts to be paid under this Sectlon. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or afl Escrow Items. Lender may waive Borrower's obligation to pay to Lender FLORIDA--Single Famity-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS Dochhagic GfFavmas 800-649-1362 Form 3010 1/1 Page 4 of 15 www.docmagic.com runnin POE DYT By RE popIMAGE01 : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 5 of 20 INSTRUMENT # 2604176851 . 2H PES a waiver, and Borrower falls to pay the amount due for an Escrow Item, Lender may exercise its rights under Section § and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any 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 institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. if there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there 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 so more than 12 monthly payments. If there is a deficiency of 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 attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrowers 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 Hen 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 Hen an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any past of the Property is subject to a lien which can attain priority over this Security Instrument, FLORIDA Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS Dociaghc Gamma 900-649-1362 Form 3010 141 Page 5 of 15 www. docmagic. ruin AE DOE By Aye PodIMAGE01! : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 6 of 20 INSTRUMENT # 2008176051 Pad 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. Property insured against loss by fire, hazards included within the term “extended coverage," and any other hazards 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 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 equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shal! 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 cestificates. If Lender requires, Borrower shall promptly give to Lender all receipts of patd premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. {n the event of lass, 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 ts 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 writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be 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 FLORID. ingle Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic Girne 800-649-1362 Form 3010 1/01 y Page 6 of 15 www. docmagic.com rnc Pye OME sy Ae FonIMAGEO01 : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 7 of 20 LNSTRIMENT & 2004176851 : 28 Pos 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 settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice 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 cight to any refund of unearned premiums paid by Borrower) under all insurance polictes 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 tc occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall 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. Uniess 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 shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to 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 interlor 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 entittes 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 concerning Borrower's occupancy of the Property as Borrower's principal residence. 8. 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 Hen 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 ia the Property and/or rights under this Security Instrument; including its secured FLORIDA-Singfe Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS Docttagic GRICWES 800-649-1362 Form 3010 141 Page 7 of 15 wuw.docmagic.com nm ge ge ay MEIMAGEO1 : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 8 of 20 SRT # ZRH 4% 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 water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities trned 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 disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument Is on a leasehold, Borrower shall comply with all the provisions of the lease. 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 shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required 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 available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased (o 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 shall not be required to pay Borrower any interest of earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverape (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 Martgage 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 ts required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay {aterest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) fer certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such Insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on 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 agreements, Lender, any purchaser of the Note, another insurer, any retnsurer, 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: i F LORIDA--Singte Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic GRITUnS 900-649-1362 Form 3010 1/01 Page 8 of 15 www.docmagic.com romans SP QE Dv Uz 8 Y/ Ye PoIMAGE01 : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/176851 Page 9 of 20 INSTRUMENT # 200417685( 28 Pos (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 awe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other 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. Il. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property Is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair ts economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shal} be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a sertes 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, desteuction, 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 [nstrument, 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, ts 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 FLORIDA Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic CFermns 900-649-1362 Form 3010 1/01 Page S of 15 wiew.docmagic.com mo GE 9 HIDEIMAGE] : FL-07-8306-2 06/26/2007 10:56:28am DOC: CN 2004/17685] Page 10 of 20 ASTRON 1 TB MS as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's Judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds 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 to Borrower of 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 forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shal} 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 (¢) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer'’s consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in 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 Hability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shal] 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 Security Instrument, including, but not limited to, attorneys’ fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law ts finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit: and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge ts provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such ov: . 45. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other FLORIDA Single Famity-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic CAnmms 200-649-1362 Form 3010 1/01 Page 10 of 15 ——— ME DYE By 195 popIMAGE01 : FL-07-8306-2 06/26/2007 10:56:28am ‘DOC: CN 2004/ 176851 Page 11 of 20 IASTRUMENT # 2004476851 Pos means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. ff any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property fs located. All rights and obligations contained in this S