Party Statement: U S BANK NATIONAL ASSOCIATION vs WESLEY A QUINN

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U.S. Bank, N.A., as Trustee for the Structured : Case No. 2007 CV 9571
Asset Securities Corporation Mortgage Loan

Trust, 2006- NC1,

Judge Jeffrey E. Froelich

Plaintiff,

AFFIDAVIT OF BAILEE OF ORIGINAL

vs" MASTER CUSTODIAL FILE

Wesley A. Quinn, et al.,

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Defendants.
Comes now the Affiant, Deanna C. Stoutenborough, Esquire, having been duly

sworn, and does hereby aver and state as follows:

1. Affiant is over the age of 21 and testifies herein from her personal
knowledge;

2. Affiant was licensed in November 1998 by the Ohio Supreme Court
to practice law in the State of Ohio under Bar Registration No. 0069761. Affiant is a
Member in good standing with the Bar;

3. Affiant is trial counsel for Plaintiff in the within action, U.S. Bank,
N.A., as Trustee for the Structured Asset Securities Corporation Mortgage Loan
Trust, 2006- NC1 (“Plaintiff”);

4. Affiant, additionally has been designated Bailee of the Original
Custodial File by Plaintiff's designated Custodial Agent, Deutsche Bank National
Trust Company, and by the designated Master Servicer for Plaintiff, Wells Fargo
Bank, N.A., pursuant to a Bailee Letter dated December 14, 2009;

5. Affiant, as Bailee of the Plaintiff's designated Custodial Agent and
designated Master Servicer, has physical possession and custody, under bailment
from and for the benefit of Plaintiff, of the Custodial Agent’s Master Custodial Filecontaining the operative original loan documents for the subject loan to defendants
herein, Wesley A. Quinn and Marion L, Quinn (“Defendants”).

6. The original Master Custodial File in Affiant-Bailee’s possession and
custody contains the original Adjustable Rate Note, and together with the
Adjustable Rate Rider to Note, dated February 28, 2006 in the amount of $80,750
given by defendant herein, Wesley A. Quinn, as sole obligor, to New Century
Mortgage Corporation as evidence of his promise to repay a loan he obtained from
New Century Mortgage Corporation in this same amount. The Adjustable Rate
Promissory Note and Adjustable Rate Rider to Note in Affiant-Bailee’s possession
and custody, bear the signature, in blue ink, of defendant, Wesley A. Quinn.

7. The original Adjustable Rate Note in Affiant-Bailee’s possession and
custody executed by defendant, Wesley A. Quinn, also bears the blue-ink
endorsement stamp of New Century Mortgage Corporate, executed by Steve Nagy,
its Vice President of Records Management.

8. The original Master Custodial File in Affiant-Bailee’s possession and
custody contains the original Adjustable Rate Mortgage in the amount of $80,750,
and together with the Adjustable Rate Rider and separate Prepayment Rider to the
Mortgage, dated February 28, 2006. Each of pages 1 through 13 and page 15 of the
Mortgage bear the initials, in blue ink, “WAQ” and “MLQ”. Page 14 of the
Mortgage contains the signatures, in blue ink, of “Wesley A. Quinn” and “Marion L
Quinn” as the “Borrower[s]”. Pages 1 and 2 of the Adjustable Rate Rider to the
Mortgage dated February 28, 2006 in the amount of $80,750 bear the initials, in blue
ink, “WAQ” and “MLQ”. Page 3 of the Adjustable Rate Rider to the Mortgage
contains the signatures, in blue ink, of “Wesley A. Quinn” and “Marion L Quinn”
as the “Borrower[s]”. The Prepayment Rider to the Mortgage dated February 28,
2006 given by Defendants, which is a single-page document, bears the signatures,
in blue ink of “Wesley A. Quinn” and “Marion L Quinn’.

9. The original Master Custodial File in Affiant-Bailee’s possession and
custody contains the original Corporation Assignment of Mortgage from New
Century Mortgage Corporation executed, in blank, by Steve Nagy, its V.P. Records
Management, on March 3, 2006.

10. Per the document custody records that are part of the original Master
Custodial File, the Note and Mortgage executed and delivered by Defendants were sold
on “sold_date: 3/22/2006” to “investor_name: LEHMAN”, who thereafter sold the

subject loan to Structured Asset Securities Corporation, the Depositor to Trust.11. The original Master Custodial File in Affiant-Bailee’s possession and
custody contains, additionally, the final Lender's Title Insurance Policy issued by
Ticor Title Insurance Company relative to the subject mortgage loan to defendant,
Wesley A. Quinn, which policy is assigned No. 71107-71999023, effective April 7,
2006 at 10:24 a.m.; Title Insurance Commitment, designated Commitment No.
200600179; and certified true, but unrecorded, copies of the Mortgage and with
Riders.

12. Affiant states that a true and exact copy of the Bailee Letter executed
by Affiant is attached hereto as Exhibit “A”. Affiant further states that true and
exact copies of the entirety of the Master Custodial File are attached hereto as
Exhibit “B”, Upon the Court's instruction, Affiant-Bailee agrees to deliver to the
Court for its inspection and review —within the physical presence of the Bailee, the
original Master Custodial File.

FURTHER AFFIANT SAYETH NAUGHT.

Deanna C. we Esq.

STATE OF OHIO )
) ss:
COUNTY OF HAMILTON )

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Subscribed and sworn to (or affirmed) before me on this BE day of

December, 2009 by DEANNA C. STOUTENBOROUGH, ESQ,, who is personally
known to me.

“Notaty bli ( fe
sarnuel |. Freldet My Commission Expires 4]

Notary Publle ,
My Commission Expit yf eo t2-BAILEE LETTER

12/1409

Deanna C. Stoutenborough

Deunna C. Stoutenborough

120 East Fourth Street, Suite 800
Cincinnati, Ohio 45202

Deanna Stoutenborough@Isrlaw.,

RE: Loan# 0830
Mortgagor: Quinn, Wesley
Property: 7 Oak Street, Trotwood, OH 45426

Dear: Deanna

The following original loan documents are hereby provided for the purpose of
prosecuting the above-referenced litigation:

__ Original Endorsed Note Original Mortgage/Deed of Trust
Original Title Policy _X__ Complete Custodial file

All original documents shall be kept in files specific for Wells Fargo Home
Mortgage. At no time shall persons other than the employees of your firm be allowed to
view and/or retrieve the original files without prior authorization of Wells Fargo Home
Mortgage. The original documents shail not be released to anyone outside the firm
without prior authorization from Wells Fargo Home Mortgage. Your firm agrees to
maintain said document(s) in its possession and/or control at all times unless it is required
to surrender said document(s) to the court,

In the event the litigation is discontinued, foreclosure is dismissed or loan is
reinstated and/or paid off, your office will return the original document(s) to Wells Fargo
Home Mortgage within 10 days of dismissal. In the event that the original document is
filed with the Clerk of the court, your office will immediately file the appropriate
pleading with the court requesting that the Clerk return the original document(s) to your
office. Upon receipt of the original document(s), your office will return them via
overnight delivery to the following address:

WELLS FARGO HOME MORTGAE
ATTN: FILE MANAGEMENT/DOCUMENT CONTROL
3476 STATEVIEW BOULEVARD
MAX X7801-01X
FT. MILL, SC 29715
This Bailment letter shall be binding upon and ensure to the benefit of Wells Fargo Bank,
NA, it’s successors and/or assigns, as their interest may appear.

enter i. 208Upon receipt of the requested original document(s), your finn will acknowledge receipt
as indicated below and returm the signed acknowledgment to my attention cither by fax,
866-918-8273 or Justin.D.Blun@wellsfargo.com

Sincerely,

Justin Blum

» acknowledges receipt of:

Deanne C Stowten beroug aA ; sg.

Original Endorsed Note Original Mortgage/Deed of Trust

Original Title Policy x complete Original file

Date Received: /2 foafog Attorney Signature:

Printed Name: Px

oeADJUSTABLE RATE NOTE
(LIBOR Six-Month Index (As Publisbed In The Wall Sireet Journal) - Rate Caps)
THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY
MONTHLY PAYMENT, THIS NOTE LIMITS THE AMOUNT MY INTEREST RATE CAN CHANGE AT~
ANY ONE TOKE AND THE MAXIMUM RATE I MUST PAY.

February 28, 2006 TROTHOOD "Ohio
{One ter) (Sar)

7 Oak Street, TROTHOOD, OH 45426-3517
Property Adérecs)

1. BORROWER'S PROMISE TO PAY
In rerum for a loan that I bave received, T promise to pay U.S. $ 80,750.00 (this amount is called
Principal"), plus interest, to the order of Lender, Lender is New Century Mortgage Corporation

U will make all payments under this Note in the form of cash, check of money order.
\ understand that Lender may transfer this Note. Lender or anyone who takes this Note by transfer and who is entitled
to receive payments under this Note is called the “Note Hotder.*

2. INTEREST.
Interest will be charged on unpaid principal until che full amount of Principal bas been paid. 1 will pay interest a¢ a
yéasly rate of &.875 %. The interest rate T will pay may change in accordance with Section 4 of this Note.

‘The interest rate required by this Section 2 and Section 4 of this Note is the sate [ will pay boc before and after any
default described in Section 7(B) of this Note.

3. PAYMENTS

(A) Time and Piace of Poyments

{will pay principal and interest by making a payment every month.

Twill make my monthly payments on the first day of each month beginning OnApril 1, 2006
rake these payments every month until 1 bave paid all of the principal and interest and any other charges

described below that 1 may owe under this Note. Each monthly payment will be applied a5 of its scheduled duc date and will

be applitd to interest before Principal. Hf, on 03/01/2036 =U stil owe amounts under this,

Note. I will pay those amounts in full on thar date, which is ealied the "Maturity Date.”

Twill make my monchly payments at 18400 Von Karman, Suite 1000, Irvine, CA 92612
or at a different place if required by the Note Holder.

(B) Amount of My Iaitist Monthly Paymeats

Each of my initial monibly payments will be in we amount of U.S. $530, 48 » This amount
may change.

(C) Monthly Payment Chaages *

Changes in my monthly payment will reflect changes in the unpaid principat of my loan and in the interest rate that 1
mist pay. The Note Holder will determine my new interest rate and the changed amuunt.of my monthly payment in
accordance with Section 4 of this Note.

saay

MULTISTATE ADJUSTABLE PATE NOTE « LIBORSEX-MONTH INDEX (AS PUBLISIED IN THE WALL STREET SOURWAL) -
Siogle Famiy - Fannie Mae UNIFORM INSTRUMENT

DEHN 210) Fomn 3820 1 OF

YAP MORTGAGE Fords - (200952 1.7: .
roti ine . Wal

EXHIBIT

2

ante He SS4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
(A) Change Dates

‘The imerest cate  witl pay may change on the first day of March, 2008 «and on that day every
sth ‘month thereafter. Each date on which my interest rate could change is called a "Change Date." :
@®) The Inder

Beginning with the first Change Date. my interest rate will be based on an Index. The “Index” is the average of
inverbank offered sates for six month U.S. dollar-denominated deposits in the London market (*LIBOR"), as published in
The Wall Sireei Journal. The most recent Index figure availabte as of the first business day of the month immediately
preceding the month in which the. Change Date occurs is called dhe “Current Index.”

Wf the Index is no longer available, the Note Holder will choose a new index thal is based upon comparable
information. Tue Note Holder will give me notice of this choice.

(© Calculation of Changes

Before each Change Date, the Note Holder will calculate my new interest rate by adding Six And Five
Hundeedth (5) percentage points ( 6.050 %) to the Current
Index. ‘Tue Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point
(0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next
Change Date.

‘The Note Holder will then determine the amount of the monthly paymeat that would be sufficient to repay the unpaid
principal dat | am expected co owe at the Change Date in full on the Matusity Date at my new interest rate in substantially -
equal payments, The sesult of this calculation will.be the new amount af my monthly payment,

@) Limits on Incerest Rate Changes

‘The interest rate | am required to pay at the First Change Date will nat be greater thon 8.375%
or tess than . 6.875%. Thereafter, my interest rate will never be increased or decreased on any single
Change Date by more than One And One-halé percentage point(s) ( 1,300 %)
from the rate of interest I bave been paying for the preceding 6 months, My interest raté will never be greater
than 13.075%.

(E) Effective Date of Changes

My new imerest rate will become effective on each Change Date. 1 will pay the amoint of my new monthly payment
SeBinning on the first monthly payment date after the Change Date until the amount of my monibly payment changes again.

{) Notice of Changes

‘Tue Note Holder will deliver or snail to me a notice of any changes in my interest rate and the amoust of my monthly
Payment before the effective date of any change. The notice will include information required by law to be given «o me and
‘also the title and telephone number of a person who will answer any question { may bave teganding the notice.

5. BORROWER'S RIGHT TO PREPAY

T have the right to make payments of Principal at any time before they are due. A payment of Principal only is known
as 8 “Prepayment.” When | make a Prepayment, 1 witl tell the Note Holder in writing that t am doing so. 1 may not
designate a payment as a Prepayment if I have not made afl the monthly payménts due under this Noxe, “

| may make a full Prepayment or partial Prepayments without paying any Prepayment charge. The Note Holder will
use my Prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my
Prepayment to the accrued and unpaid interest on dhe Prepayment amount before applying my Prepayment to reduce the
Principal amount of wis Note. If | make a partial Prepayment, there will be no changes in tbe due dates of my monthly
Payments unless the Note Holder agrees in writing to those changes. My partial Prepayment may reduce the amount of ray
monthly payments afler the first Change Date (allowing my partial Prepayment. However, any reduction due to my partial
Prepayment may be offset by an interest rate increase.

6 LOAN CHARGES

If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or
‘ther toan charges collected or 10 be collected in connection with this loan exceed Use permitted limits, then: (a) any suc.
loan charge shall be reduced by the amourt necessary to reduce the charge (o the perticted bimit; and (b) any sums already
collected from me that exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund’
by reducing the Principal I owe under this Note or by making a direct payment t0 me. if a refund reduces Principal, the
reduction will be treated as 2 partial Prepayment :

3447

Fon 3520,
Dye" woe oa tee . veo bela)7. BORROWER'S FAILURE TO PAY AS REQUIRED . : :

(A) Late Charges far Overdue Payments

Tf the Note. Holder bas not received the full amount of any monthly payment by the end of £4 fteoa
calendar days after che date it is duc, [ will pay-a tate charge to the Note Holder. The-amount of the charge will be

5.000 “% of my overdue payment of principal and interest. 1 will pay this late charge promptly but

only once on each late payment,

@) Default .

If] do pot pay.the full amonnt of each monthly payment on the date it is due, | will be in default,

{C) Notice of Defauit :

If Tam in default, the Nowe Holder may send me a written notice telling me tbat if Ido not pay the overdue amount by
a certain date, the Note Holder may requize me 10 pay immediately the full amount of Principal that bas not been’ paid ark
all the interest that I owe on that amount. That date must be at least 30 day's after the date on which the notice is mailed to
me or delivered by other means

(D) No Waiver By Note Holder

Even if, at a time when I am in default, the Note Holder does not-require me to pay immediately in full as described
above, the Note Holder will stitt have the right to do so if Tam in default at a later time.

&) Payeacat of Note Holder's Costs sod Expeoses

If the Note Holder has requited me to pay immediately in full as described above, the Note Holder will have the right
tw be paid back by me for afl of its costs and expenses in enforcing this Note to the extent not probibited by applicable law.
‘Those expenses include, for example, reasonable attorneys’ fees” :

8. GIVING OF NOTICES
Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by
Aetivering it or by maiting ir by first class mail to ine at the Property Address above or at a different address if] give the
Note Hotder a notice of my different address.
Unless the Note Holder requires a differcat method, any notice that must be given to the Note Holder under this Note
‘will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or al a different
address if | am given a notice of that different address.

9. OBLIGATIONS OF PERSONS UNDER THIS NOTE.

If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made
in this Note, inctuding the promise to pay the full amount owed, Any person who is a guasantor, surety of endorser of this
Note is also obligated to do these things. Any person who takes over these obligations. including the obligations of a
Svarantor, surety or endorser of this Note, is also obligated to keep all af the promises made in this Note. ‘The Note Holder
may enforce its rights under this Note against each person individually of against all of us together. This meons that any one
of us may be required to pay all of the armoums owed under this Note.

10, WAIVERS

Vand any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor.
“Presentment” means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor” means
the right 10 require the Note Holder to give notice (o other persons that amounts due have not been paid.

41, UNIFORM SECURED NOTE,

‘This Note is a uniform instrament with limited variations in some jurisdictions. In addition to the protections given to
the Note Hotder under this Note, a Mongage, Deed of ‘Trust, or Security Deed (the "Security Instrumen"), dated the same
Cate as this Note, protects the Note Holder from possible losses that might result if I do not keep the promises that { make in
this Note, That Security Instrument describes how and under what conditions { may be required 10 mak
in full of all amounts 1 owe undes this Note, Some of those conditions read as follows:

s54a7

SBN wr} PasseTransfer of the Property or'a Beneficial Interest ia Borrower. As used in this Section 18, “Interest in the *
* Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial .
interests transferred in a bond for deed, contract for deed, installment. sales contract or escrow agreement, the
intent of which is the transfer of title by Borrawer at a future date to a purchaser. . so .

If all or any part of the Property or any Interest in the Property is sold ot transferred (ar if Borrower is not a
natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent,
Lender may require immediate payment in full of all sums secured by this Security Instrument, However, this
option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender algo shall not
exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate
the-intended transferee as if a new loan were being madc (o the transferee; and (b) Lender reasonably determines
that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or
agreement in this Security Instrument is acceptable to Lender, : .

To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's
consent to the loan assumption. Lender also may require the transferee to Sign an assumption agrecment that is
acceptable to Lender and that obligates the transferee 10 keep all the promises and agreements made in the Note
and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security
Instrument untess Lender releases Borrower in writing. .

If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of
acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in
accordance with Section 15 within which Borrower must pay all sums secured by this Security instrument. If
Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted
by this Security Instrument without further notice or demand on Borrower, :

WITNESS THE HAND{S) AND SEAL{S) OF THE UNDERSIGNED.

) .
terkoy a Qu (Seal) (Seal)

WESLEY A. culty Borrower . -Borrower
(Seal) : (Seal)

“Borrower “Borrower

(Seal) (Seal)

Borrower “Borrower

- (Seal) (Seal)

Pay to the order ci, wi Out recourse: “Borrower “Borrower

Re C aA  a pian
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Si TERE ™ .
VP. Records Maiegement . &Sign Original Only)
S447

SSN e210; . Pred . Form 3520 1/ 01age

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WEA TYTLE AGENCY. INC.
801 W. Chery St aw

Bunbury, Oh 43074

Space Abore This Line For Recerdiog, Dita) ——________
MORTGAGE

DEFINITIONS

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

(A) "Security Tostrument” means this document, which is daed February 28, 2006

ether with all Riders to this document. 7 ,
@)"Decrower" is MESEEY A QUIRE a0 MARTON 1. cori, Husband dtuife

Borrower is the mortgagor under this Security Insinament
(C) “Lender"is New Century Mortgage Corporation

Lender is a Corporation
‘organized ahd existing under tbe laws of California
Lender's addsess is 18400 Von Karman, Suite 1000, Irvine, CA 92612

Lender is the mortgegce under his Security Instrument.
{B} "Note" means the promissory note signed by Borrower and dated February 28, 2006 .
‘The Note states thal Borrower owes Lender EIGHTY THOUSAND SEVEN HUNORED FIFTY AND

90/100 : Dollars

(U.S.S 80,750.00 ) plus imerest. Borrower bas promised to pay this debt in regular Periodic
Payments ard to pay the debt in full not later than 03/01/2036

5407

Fom 3036 101

‘OHIO-Singie Famity-Fannia MaeiFreddie Mac UNIFOREN INSTRUMENT

BQ 1014 pars,
Pa tats sate
een a Wad
. me(E) "Property" means the property that is described below under the heading “Transfer of Rights in the
Property.”

(F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
due under the Note, and all sums duc under this Security Instrument, plus interest.

(G) “Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Riders are to be executed by Borrower [cueck box as applicable}:

[ic] Adjustable Rate Rider [_] Condominium Rider (J) Second Home Rider
Baltoon Rider Planned Unit Development Rider {_] 1-4 Family Rider
(0 va Rider (J Biweekly Payment Rider Lax) Other(s) (specify)

Prepayment Rider

: ARM Rider Addendum
@) "Applicable Law" means all-controlling applicable federal, state and local statutes, regulations,
ordinances and administrative rules and orders (uhat have the effect of law) as well as ali applicable final,
non-appealable judicial opinions.
@ “Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other
charges that are imposed on Borrower or’the Property by a condominium association, homeowners
association or similar organization. .
@) “Hectronic Funds Transfer" means any wansfer of funds, other than a transaction originated by
check, drafi, 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, autoriated teller
machine transactions, transfers fated by telephone, wire transfers, and automated clearinghouse
transfers.
{K) ‘Escrow Items" means those items that are described in Section 3.
() "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid
by any thied party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
damage to, or destruction of, the Property; (ii) condemnation or other taking of alt or any part of the
Property; (iii) conveyance in tiew of condemnation; or (iv) misrepresentations of, or omissions as (0, the
value and/or condition of the Property.
@1) “Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
the Loan.
(N) “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.
(O) "RESPA™ means the Real Estate Settlement Procedures Act (12 U.S.C. Section 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 celated mortgage loan” even if the Loan does nat qualify as a "federally related mortgage ~
loan" under RESPA. . . :
{P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or
not that party bas assumed Borrower's obligations under the Note and/or this Security Instrument.

BD B(OH} (0105) Page Pol 15. Form 3036 1/01
‘©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 Securicy insument and the Note. For this purpose, Boower docs bereby

mortgage, grant and “convey to Lender the fatlowing described property located in the
County of Montgomery :

(Type oF Recording fristiccnn) ttame of Reeording furssicGon}
Soo Legal Description Attached Horeto and Made a Part Horeof

Parcel ID Number: #33-3-6-10 which currently bas the address of
7 Oak Stroat Buca.
‘TROTWOOD ICiy], Obio 45426-3517 (Zip Coors

("Propenyy Address”):

TOGETHER WITH all we improvements now or hereafter erected on the property, and all
easements, appurtenances, and fixtures now or hercafler a part of the property. Al) replacements and
additions shall atso be covered by this Security Instrament. All of the foregoing is referred «0 in this
Security Instrument as the “Property.”

BORROWER COVENANTS that Borrower is lawfully seised of the estate bereby conveyed and has
be right 1 morgage, grant and convey the Property and tbat tbe Property “is uncncumbesed, 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 ocn-uniform
covenants with limited variations by jurisdiction ‘a constinne @ uniform security inscrument cavering real
Property. .

UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:

1, Payment of Principal, loterest, Escrow Items, Prepayment Charges, and Late Charges.
Borrower shall pay when due the principal of, and interest on, the debi evidenced by the Note and any
Prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow [tems
Pursuant to Section 3. Payments duc under the Note and this Security Instrament shall be made in U:S.

* currency. However, if any check or other instrument received by Lender as payment under the Note or this
: S447

AO c08, peas Form 3638, 01Security Instrument is rerumed to Lender unpaid, Lender may require that any or all subsequent payments
duc 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) cemified check, bank check, treasurer's check or
cashier's check, provided any such check is drawn upon an instirution whose deposits are insured by a
federal agency, instrumentality, or entity; or (@) Electronic Funds Transfer.

Payments ae deemed reccives by Lender when received at the location designated in the Note or al
such other location as may be designated by Lender in accordance with the notice provisions in Section 15.
Lender may return any payment of partial payment if dhe payment or partial payments are insufficient 10
Dring the Loan current. Lender may accept any payment or partial payment insufficient 10 bring the Loan
cursent, without waiver of any rights heteunder or prejudice 1o its rights 10 refuse such paymene or partial
payments in the future, but Lender is not obligated t0 apply such payments at the time tucb paymens are
accepted. If cach Periodic Payment is applied as of fis scheduled due date, then Lender need not pay
interest on unapptied funds. Lender may bold such unapplied funds until Borrower makes payment to bring
the Loan carrent, If Borrower does not do so within a reasonable period of time, Lender shall cither apply
such funds or retum 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 of claim which Borrower
might bave now or in the furure against Lender shall relieve Borrower from making payments due under
the Note and this Security Instrument or performing the covenaiits 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 applicd in che following order of priority: (3) 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 ordes in which it became dué. Any remaining amounts
shall be applied First wo late charges. second to any other amounts due under this Security Instrument, and
then (9 reduce the principal balance of the Note.

Af Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
sufficient amount to pay any late charge dus, the payment may be apptied to the delinquent payment and
the late charge. If morc 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 catent that any excess exists after the payment is applied to the full payment of ane or
more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall
‘be applied first o any prepayment charges and then as described in the Note,

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

43. Funds for Escrow temas. Borrower shall pay 1o Lender on the day ic Payments are due
under the Note, until the Note is paid in full, a sum (ihe “Funds*) to provide for payment of amounts duc
for: (a) taxes and assessments and other items which can alsin priority aver this Sceurity Instrument as a
Tien or encumbrance an the Property; (b) leasehold payments or ground rents on the Property, if any; (c)
Premiums for any and all inswance required by Lender undet Section 5; and (d) Mortgage Insurance
Premiinns, 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
tems." AF origination or at any time during the term of the Loan, Lender may require that Comumunity
Association Dues, Fees, and Assessments, if any, be escrowed by Boriower, and such dues, fees and
assessments sball be an Escrow Item. Borrower shail prompily furnish (o Lender all notices of amounts to
be paid under this Section. Borrower shall pay Lendet the Funds for Escrow tems untess Lender svaives
Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's

ue

Ld ,

Bytom ons Pea ot ty Fom 1036 101
MEX :‘obligation to.pay to Lender Funds for any or all Escrow Ikems at any time. Any such waiver may only be °
in writing. In te cvent of such waiver, Borrower stall pay directly, when and where payable, the amounts
due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
sball furnish wo Lender receipts evidencing such payment within such time period as Lender may require.
Borrower's obligation to make such payments and (o provide receipts sball for all purposes be deemed 10
de a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement”
is used in Sectién 9. If Borrower is obligated to pay Escrow hems directly, pursuant to a waiver, and
Borrower fails 10 pay the amount due for an Escrow ttem, Lender may exercise its rigbts under Section 9
and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such
amount. Lender may revoke the waiver as to any of all Escrow Items at any time by a notice given in
accordance with Section 15 and, upon such revocation, Borrower shat! pay to Lender al] Funds. and in
such amounts, that arc then required under this Section 3.

Lender may, at any lime, colteet anc bold Funds in an amouat (a) sufficient to permit Leader to apply
the Funds at the time specified under RESPA, and (b) not to excecd 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

,

2 rye Funds sball be beld in an iastnation whose deposits are insured by a federal agency.
instrumentality, or eruity (including Lender, if Lender is an institution whose deposits ate 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, of verifying the Escrow Items, unless Lender pays Borrower interest on the
Funds and Applicable Law permits Lendet (o make such a charge: Unless an agreement is made in wziting,
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 stall give to Borrower, without charge, an annual accounting of tbe
Funds as required by RESPA.

If there is a surplus of Funds held in escrow, as defined under RESPA, Lender sball account (0
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 requised by RESPA. and Borrower shall pay 10
Lender the amount necessary to make up the sbortage in accordance with RESPA, but in no more than 12
‘moothly paymems. Hf there is a deficiency of Funds beld 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 deficiency in accordance with RESPA, but in no more than (2 monthly payments,

Upon payment in full uf all sums secured by this Security Instrument, Lender shall prompily refund
to Borrower any Funds betd by Lender.

4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
auributable to the Property which can attain priority over this Security Insirument, leasehold payments or
ground rents on the Property, if any, and Community Association Dues, Fets,.and Assessments, if any. To
the extent chat these items are Escrow ]tems, Borrower shall pay them in the manner provided in Section 3,

Borrower shalt promptly discharge any lien which has priority over this Security Instrument unless
Borrower: (a) agrees in writing to the payment of the obligation secused by Ue lien in a manner acceptable
to Lender, but only so long at Borrower is performing such zgreement: (b) contests the lien in good faith
by, of defends against enforcement of the lien in, legal proceedings whicb in Lender's opinion operate t0
prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings
are concluded; oF (c) secures from the holder of the lien an agtcement satisfactory (o Lender subordinating
the lien to this Security Instrument. If Lender determines that any part of the Property is subject 10 a lien

which can atain priority over-tbis Security lnstrument, Lender may give Borrower a notice identifying the
: saa

: ents
QAI. Pron Fown 3036 101

Relien. Within LO days of the date on whicb that notice is given, Borrower shall satisly the lien or take one oF
‘more of the actions set forth above in this Section 4

let may require Borrower to pay a one-time charge for 2 real estate tax verification and/or
reporting service used by Lender in connection with this Loan,

5. Property Insurance. Borrower shail keep the improvements now existing or hereafier erecied on
the Property Insured against loss by fire, hazards included within the term “extended coverage,” and any
siber bazards inctuding,..but not limited to, earthquakes and floods, for which Lender requires insurance.
This insurance shat! be maintained in the amounls {including deductible levels) and for the periods that
Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of
the Loan. ‘The insurance cartier providing the insurance shall be chosen by Rotrower subject to Lender's
right to disapprove Borrower's choice, which right shall not be exercised unteasonably. Lender may
fequite Borrower to pay, in connection with this Loan, cither: (a) a one-time charge for flood tone
determination, certification and vacking services; ot (b) a one-time charge for Mood zone determination
‘and certification services and subsequent charges each time temappings of similar changes occur which
reasonably might affect such determination o1 certification, Borrower shall also be responsible for the
Payment of any fees imposed by the Federal Emergency Management Agency in connection with the
review of any flood zone determination resulting from an objection by r.

If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender's option and Borrower's expense. Lender is under no obligation 10 purchase any
particular type or amount of coverage. Theselore, such coverage shall cover Lender, Dut might or might
ot protect Borrower, Borrower's equity in the Property, ot the contents of the Property, against any risk,
hazard or lability and might provide greater ur lesser coverage than was previously in effect, Borrower
acknowledges thal the cost of the insurance coverage so obtained might significantly exceed the cost of
insurance that Borrower could bave obtained. Any amounis disbursed by Lender uncer this Section § sbalt
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 shal! be payable, with suc interest, upon notice from
Lender to Borrower requesting payment.

All insurance policies required by Lender and renewals of sucb policies shall be subject to Lender's
Fight to disapprove such poticies, shall include a standard mortgage clause, and shall name Lender a$
mortgagee and/or as an additional loss payee. Lendet shail have the right to bold the policies and renewal
certificates. If Lender requires, Borrower shatl promptly give to Lender all receipts of paid premiums and
renewal notices, If Borrower obiains any form of inswance coverage, not otherwise required by Lender,
for damage to, of destruction of, the Property, such policy shall include a standstd morgage clause and
shall name Lender as mortgagee and/or 2s an additional loss payee.

In the event of tors, Borrower shall give prompt notice to the insurance cartier and Lender, Lender
may make proof of loss if nol sade prompily by Borrower. Unless Lender and Borrower otherwise apree
in writing, any insurance proceeds, wheiber of not che underlying insurance was required by Lender, sball
be applied 1o restoration or repair of the Property, if the restoration oF repair is economically feasible and
Lender's security is not tessened. During such repair and restoration period, Lender shall have the right to
bold such insurance proceeds until Lender bas had an opportunity to inspect such Property 10 ensuse the
work has been completed 10 Lender's satisfaction, provided that such inspection shall be undertaken
Promply. Lender may disburse proceeds for the repairs and restoration in a single payment or in 2 series
Of progress payments as the work is completed. Uniess an agreement is made in wriving or Applicable Law
requires interest to be paid on such insurance proceeds, Lender sball not be required 10 pay Bonower any
imerest of eamings on such proceeds. Fees for public adjusters, or other third patties, reuined: by
Borrower shall not be paid our of the insurance proceeds and sball be the sole obligation of Borrower. If
the restoration oF tepait is not economically feasible or Lender's security would be lessened the insurance
Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with

. i447

a
BQ ACW owe - Pant tis

nA

For 1036 aythe excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in,
Section 2.

Tf Borrower abandons the Property, Lender may fite, 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 Properry undet
Section 22 or otherwise, Borrower hereby assigns 10 Lender (a) Borrower's tights to any insurance
proceeds in an amount not to excecd the amounts unpaid under the Note or this Security Insirument. and
(©) any other of Borrower's rights (otber than the right to any cefud of uneamed premiums paid by
Borrower) under all insurance poticies covering the Property, insofar as such rights are applicable to the
coverage of the Property. Lender may use the insurance proceeds either to repair ar restore the Property of
4 pay amounts unpaid under the Note or this Security Instruments, whether oF not then due,

8. Occupancy. Dorrower shall occupy, establisb, and use the Property as Borrower's principal
residence within 60 days after the cxecution of this Security Instrument and shal! continue in occupy the
Property as Borrower's principal residence for at least one year afer the date of occupancy, unless Lender
Otherwise agrees in writing, whic consent shall not be unreasonably withheld, ot unless extenuating
Circumstances exist which are beyond Borrower's control.

7. Preservation, Maintenaace and Protection of che Property; Inspectioas. Bomower shall not
destroy, damage or impair the Property. allow the Property 10 deteriorate or commit waste on the
Property. Whether or not Borrower is residing in the Property. Borrower shat maintain dhe Property in
order (0 prevent the Property from deteriorating or decreasing in value due to its condition. Uniess it is
determined pursuant (0 Section $ thal repair or restoration is not economically feasible, Borrower shall
promptly repair the Property if damaged 10 avoid further deterioration or damage. If insusance ot
) any
Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of
release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a
Hazardous Substance which adversely affects the value of the Property. If Borrower learns, of is notified
by any governmental or regulatory authority, ar any private party, that any removal or other remediation
of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary
femediat actions in accordance with Environmental Law. Nothing herein shall eeatc any obligation on
Lender for an Environmental Cleanup.

NON UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: :

22. Acceleration; Remedies. Lender sball give notice to Harrower prior to acceleration following
Torrower's breach of any. covensat or agreement in this Security Instrument (but not prior to
acteleration under Sectioa 18 uuless Applicable Law provides otberwise). The notice shall specify: (a)
the default: (b) the action cequired to cure the default; (c} a date, wot less than 30 «tays from the date
the notice is given to Borrower, by which the default roust be cured; aud (6) that failure to cure the
default on or before the date specified in the notice may result in acceleration of the sums secured by
this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall
fugther inform Borrower of the right to reinstate after acceteration and the right to assert ia the
foreclosure proceeding the nou-eristence of s default or any other defense of Borrower to-acceleration
and forectosure. Uf the defau{t is ant cured om or before the date specified ia the notice, Lender at its
option may require irarmediate payment im full of off sums secured by this Security Jastrumeot
without further demiaod and may foreclose this Security Instrument by judicial proceediog. Lender
shall be entitled ¢o collect all expenses incurred In pursuing the remedies provided in this Section 22,
iactagiag, but aot lirulted to, costs of title evidence.

23, Release. Upon payment of all sums secured by this Security Insirument, Lender shall discharge
this Security Instrament. Borrower shall pay any recordation costs, Lender may charge Borrower a fee for
releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the
‘charging of the fee is permitted under Applicable Law.

24. Cersain Other Advances. [n addition to any other sum secured bezeby, this Security Instrument
shall also secure the unpaid principal balance of, plus eccrued interest on, any amount of money loaned,
aitvanced or paid by Lender to or for the account and benefit of Borrower, after this Security Instrument is,
detivered to and filed with the Recorder's Office, Montgomery
County, Ohio, for recording. Lender may make such advances in order to pay any real estate taxes and
assessments, insurance premiums plus all other cosis and expenses incurred in connection With the
operation, protection of preservation of the Property, including to cure Borrower's defaults by making any
Such payments which Borrower should bave paid as provided in this Security Instrument, it being intended
by this Section 24 to acknowledge, affirm’ and comply with the provision of Section $301.233 of the
Revised Code of Obio.

tel) - 5447
ZQHOM os reises = Form 2096 1/09
brugBY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in wis
Securiey Instrument and in any Ridler executed by Borrower and recorded with it

Witnesses:

(Seal) (Seal)
“Borrower ares
(Seal) (Seal)
Borrower Borrower
(Seal) Seal)
Bertone “Rortowee
‘5447

BZ #01 0-05, Pape ats Fonn 3038 104STATE OF O10, Pen boa County ss:

instrument was acknowledged vetore me wis HE aay of feh 2006 vy
lwesley A Qumn 4 Mason £ Quinn) maxed 40 each olfer

My Commission Expires:

Nowy Poblie
SHARON HILL
MY COMMISSION EXPI
‘SEPTEMBER 13,2003
. ‘This instrument was prepared by
“a. ‘New Century Mortgage Corporation
- say
vite

BQ 40H) e008 Page tsa 5 Forn 3028 101

meADJUSTABLE RATE RIDER ADDENDUM
(Libor Index - Rate Caps)

‘This Adjustable Rate Rider Addendum is made this 28th day of February 2006 :
And is incorpormed into and shalt be deemed to amend and supplement the Promissory Note (the "Note”) and
Mongage, Deed of Trust or Security Deed (the “Security Instrument”) and Adjustable Rate Rider (be
"Rider*) of the same date given by the undersigned (Ibe “Bonower") to secure repayment of Borrower's
Note to

New Century Mortgage Comoration + {tbe “Lender*),

Property securing repayment of the Note is described in the ‘Security Instrument and located a
7 Gak Street, TROTWOOO, OH 45428-3517
(Proper Adérese)

To the extent that the provisions of this Adjustable Rate Rider Addendum are inconsistent with the
Provisions of the Note and/or Security Instrument and/or Rider, the provisions of this Addendum shall
Prevail over and supersede any such inconsistent provisions of the Note and/or Sc