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FIFTH THIRD MORTGAGE COMPANY, IN THE CIRCUIT COURT OF THE
9TH JUDICIAL CIRCUIT IN AND FOR
Plaintiff, ORANGE COUNTY, FLORIDA
Vs. C^^ENO.|)2_(2^_jg^Qq^
SHARON ADAM and SAHEED ADAM, his wife; COMPLAINT
^ ^ ^
JOHN DOE and MARY DOE; SAVANNAH
PINES CONDOMINIUM, INC.,
Defendants,
/
Plaintiff, FIFTH THIRD MORTGAGE COMPANY, sues defendants SHARON ADAM
C2 CD
g and SAHEED ADAM, his wife; JOHN DOE and MARY DOE; SAVA^^. P ^ S 3
!>• CONDOMINIUM, INC., and alleges:
OS
5 COUNT I
1. This is an action to foreclose a mortgage on real property in Ofi^cSQE Cqjgjty, m
Florida.
2. On MAY 15, 2006 Mortgagor(s), SHARON ADAM, a married woman, executed
_ and delivered a promissory note and purchase money mortgage securing payment of it to FIFTH
^>^ THIRD MORTGAGE COMPANY. SAHEED ADAM, SPOUSE OF SHARON ADAM,
'^
^ executed the mortgage. The mortgage was recorded on MAY 19, 2006 in Official Records Book
8652 at page 1056 ofthe Public Records ofORANGE County, Florida and mortgaged the real
property described in it, then owned by and in possession of the mortgagor, a copy of the
mortgage and a copy ofthe note being attached hereto as Exhibit "A".
3. PlaintifF, as servicer for the owner and acting on behalf of the owner with
authority to do so, is the present designated holder of the note and mortgage with authority to
pursue the present action.
4. The property is now owned by Defendant(s), SHARON ADAM who holds
possession.
5. The Note and Mortgage are in default as the amount due on NOVEMBER 1,
2007, and all subsequent payments have not been made.
6. Plaintiff declares the full amount payable under the note and mortgage to be due.
7. Plaintiff is owed ONE HUNDRED FOURTY SEVEN THOUSAND SEVEN
HUNDRED FOURTY SIX AND 29/100 ($147,746.29) Dollars that is due on principal on the
note and mortgage, interest from OCTOBER 1, 2007, plus taxes, insurance and late charges.
8. Plaintiff is obligated to pay its attomeys a reasonable fee for their services and is
entitled to attomey's fees under the Note and Mortgage.
9. Plaintiff, has complied with all ofthe terms and conditions precedent with which
it is required to comply with.
10. Defendant, SAHEED ADAM, may claim to have some right or interest in the
subject real property, arising out of his/her marriage to Defendant SAHEED ADAM, if married.
However, any right or interest of said Defendant is subject to and inferior to the right and interest
ofPlaintiff.
11. Defendant, JOHN DOE and MARY DOE, may claim to have some right or
interest in the subject real property arising out of his/her/their occupancy of the subject real
property. However, any right or interest of said Defendant is subject to and inferior to the right
and interest ofPlaintiff.
12. Defendant, SAVANNAH PINES CONDOMINIUM, INC., may claim to have
some right or interest in the subject real property. However, any right or interest of said
Defendant is subject to and inferior to the right and interest ofPlaintiff.
13. Further joined to this action if any of the above Defendant(s), who are natural
persons are dead, are the unknown Defendant(s), who may be spouses, heirs, devisees, of such
Defendant(s), and additional unknown Defendant(s) as successors in interest, grantees, assignees,
lienors, creditors, trustees, and all parties claiming interest by, through, under or against the
Defendant(s) who are not known to be dead or alive, and all parties having or claiming to have
any right, title or interest in the property described in the mortgage being foreclosed herein.
WHEREFORE, Plaintiff demands judgment foreclosing the mortgage and ifthe proceeds
of the sale are insufficient to pay Plaintiffs claim, a deficiency judgment, including costs and
attomey's fees against Defendant(s).
COUNT II
14. Plaintiff re-alleges the allegations contained in paragraph 2 of Count I and further
alleges.
15. This is an action to re-establish and enforce a lost and/or destroyed mortgage
pursuant to Florida Statute 673.3091.
16. The Plaintiff owned, held and was in possession of the original mortgage and
entitled to enforce it when the loss of possession occurred.
17. The Plaintiffhas conducted a very diligent search to find the original mortgage and
has been unable to locate it.
18. The loss of possession was not the result of a transfer by Plaintiff or a lawfiil
seizure.
19. Plaintiff cannot reasonably obtain possession ofthe original mortgage because it
was destroyed and/or its whereabouts cannot be determined.
20. The parties to this action are the only persons known to Plaintiff who are interested
for br against such re-establishment and enforcement.
21. The subject mortgage has not been sold, pledged or hypothecated to any entity.
WHEREFORE, Plaintiff requests this court to re-establish the mortgage and to foreclose
on it.
SPEAR AND HOFFMAN, P.A.
9700 South Dixie Highway, Suite 610
Miami, Florida 33156
Tel: (305) 670-2299
Fax: (305) 670-9503
L. JOSEBHiBHH( HOFFMAN
FloridaBarNo. 127710
jhoffman(a),spearhoffman.com
Adam-Sharon.co/sph
Loan No. 402118996/FTA-C-228
P, Law Offices ^ ^^ f,f.
opear and Hoinnan, PA. 1.1.0 spe. (.9221976)
May 19, 2008
Sharon Adam
10612 Savannah Wood Court Unit 86
Orlando, Fl 32832
RE: Fifth Third Mortgage Company, vs. Sharon Adam, et ux., et al.,
LOAN #402118996
Dear Mortgagor:
We have been retained by the Creditor to file the attached foreclosure suit.
As ofthe date ofthis letter. May 19, 2008, you owe the sum of $157,899.73. Because of
interest, late charges, and other charges that may vary from day to day, the amount due on the
day you pay may be greater. Hence, ifyou pay the amount shown above, an adjustment may be
necessary after we receive your payment, in which event we will inform you before depositing
the check for collection. For fiirther information, write to Spear & Hoffman, P.A. or call (305)
670-2299.
Below is the breakdown ofthe amount due:
Principal Balance $ 147,746.29
Interest from 10/1/07 to 5/19/2008 $ 7,249.19
Late Charge $ 321.30
Escrow Advance $ 870.36
Other Charges $ 644.09
Attorney's Fees & Costs $ 1.068.50
TOTAL: $ 157,899.73
L. JOSEPH HOFFMAN
LJH/SPH/FTA-C-228
ALL FUNDS SUBMITTED MUST BE CERTIFIED AND MADE PAYABLE TO SPEAR
& HOFFMAN TRUST ACCOUNT.
NOTE: PURSUANT TO THE FAIR DEBT COLLECTION PRACTICES ACT, YOU ARE ADVISED THAT
THIS OFFICE IS ATTEMPTING TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE
USED FOR THAT PURPOSE.
Please refer to the attached Notice Required by the Fair Debt Collection Practices Act.
9700 South Dixie Highway, Suite 610 / Miami, Florida 33156 / (305) 670-2299 / Fax (305) 670-9503
www.spearhoflfiiian.com
NOTICE REQUIRED BY THE FAIR DEBT COLLECTION
PRACTICES ACT, fthe Act) 15 U.S.C. SECTION 1601 AS AMENDED
1. This law firm may be deemed a "debt collector" under the Fair Debt Collection Practices Act.
Any and all information obtained during the prosecution ofthis lawsuit may be used for the
purpose of collecting a debt.
2. The amount ofthe debt is stated in the attached letter.
3. The Plaintiff as named in the attached letter is the creditor to whom the debt is owed, or is the
servicing agent for the creditor to whom the debt is owed. The undersigned attomey represents the
interests ofthe Plaintiff.
4. The debt described in the letter evidenced by the copy ofthe mortgage note attached hereto will
be assumed to be valid by the creditor's law firm unless the debtor, within thirty days after the
receipt ofthis notice, disputes in writing the validity ofthe debt or some portion thereof
5. Ifthe debtor notifies the creditor's law firm in writing within thirty days ofthe receipt ofthis
notice that the debt or any portion thereof is disputed, the creditor's law firm will obtain a
verification ofthe debt and a copy ofthe verification will be mailed to the debtor by the creditor's
law firm.
6. Ifthe creditor named as Plaintiff in the attached letter is not the original creditor, and ifthe
debtor makes a written request to the creditor's law firm within the thirty days from the receipt of
this notice, the name and address ofthe original creditor will be mailed to the debtor by the
creditor's law firm.
7. FEDERAL LAW GIVES YOU THIRTY DAYS AFTER YOU RECEIVE THIS NOTICE TO
DISPUTE THE VALIDITY OF THE DEBT OR ANY PART OF IT. THE LAW DOES NOT
REQUIRE THAT WE WAIT UNTIL THE END OF THE THIRTY-DAY PERIOD TO
CONTINUE WITH THE SUBJECT LEGAL ACTION. IF, HOWEVER, YOU REQUEST
PROOF OF THE DEBT OR THE NAME AND ADDRESS OF THE ORIGINAL
CREDITOR WITHIN THE THIRTY-DAY PERIOD THAT BEGINS WITH YOUR
RECEIPT OF THIS LETTER, THE LAW REQUIRES THAT WE SUSPEND OUR
EFFORTS (THROUGH LIFIGATION OR OTHERWISE) TO COLLECT THE
MORTGAGE AND NOTE, INCLUDING SEEKING A DEFAULT BV THE
FORECLOSURE SUIT FOR YOUR FAILURE TO RESPOND TO THE ATTACHED
COMPLAINT WITHIN THE TIME REQUIRED UNDER THE SUMMONS, UNTIL WE
MAIL THE REQUESTED INFORMATION TO YOU. IF YOU REQUEST VALIDATION
OF THE DEBT, AS STATED HEREIN, YOU ARE UNDER NO OBLIGATION TO RESPOND
TO THE SUMMONS AND COMPLAINT UNTIL WE RESPOND WITH THE REQUESTED
INFORMATION
8. Written requests should be addressed to Spear & Hoffman, P.A., at 9700 South Dixie Highway,
Suite 610, Miami, Florida 33156.
EXHIBIT "B"
INSTR 20060331210
Return To:
OR BK 06652 PG 1056 PGS=25
MARTHA 0. HAYNIE, COKiPTRCLLtK
Fifth Third Mortgage Conpany ORANGE COUNTY, FL
5001 Kingsley Drive, MD: 05/13/2806 12:08:44 PM
1M0B3A tITG DOC TAX 523.60
Cincinnati, OH 45227 INTANG TAX S93.04
REC FEE 214.00
This document was prepared by:
Xiomara Barrero
Fifth Third Mortgage Conpany
5050 Kingsley Drive
MD IMOB 2X
Cincinnati, OH 45263
[Space Above This Lioe For Recording Data|-
^Universal Land Title
245
uite
WFairbanks
350
Ave. MORTGAGE
inter Park, FL 32789
iie Nuinber; 41637-14
#1509
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in
Sections 3, 11, 13. 18, 20 and 21. Certain rules regarding the usage of words used in this document are
also provided in Section 16.
(A) 'Security Instmment" means tfiis document, wfaich is datedMay 15,2006
tog^her with all Rid^s to tiiis document
(B) "Borrower"is S h a r o n Adam, a married woman, joined by Saheed Adam,
her husband
Borrower is the mortgagor under this Security Instrument
(Q "Lender" is Fifth Third Mortgage Conpany
Lends is a c o x p o r a t i o n
organized and existing under the laws of t h e state of Ohio
402118996 402118996
FLORIDA-SingIa Family-Fannie Ma«/Fre(ldle Mac UNIFORMINSTRUMENT Form 3010 1/01
$D(FL)(040i)
Ps9« 1 of 16 Initial
VMP Mortgage Solutions (800)521-7291
0344010402118996
L^da-'s address is 5050 Kingsley Drive, MD IMOB 2X, Cincinnati., OH 45263
Lender is the mortgagee under this Security Instrument
(D) "Note" means the promissory note signed by Borrower and datedMay 15,2006
The Note states that Borrower owes Lender One Hundred Forty Nine Thousand Five
Hundred Nineteen And Zero/100 Dollars
(U.S. S 1 4 9 , 5 1 9 . 0 0 ) plus interest. Borrows has promised to pay this debt in regular Periodic
Payments and to pay the debt in fiill not later than
June 01, 2036
(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 intaest, any prepayment charges and late charges
due under the Note, and all sums due under this Security Instrument plus interest
(G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Ridos are to be executed by Borrower [check box as applicable]:
L3 Adjustable Rate Rider LxJ Condominium Rider LZI Second Home Rider
CU Balloon Rider Sl Plaimed Unit Development Rider H 1-4 Family Rido-
• VA Rider • Biweekly Payment Rider • Othei\^ose 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 otho* location as may be designated by Lender in accordance with the notice provisions in Section 15.
Lender m ^ r^um any payment or partial payment if the payment or partial payments are insufScient to
bring the Loan current Lender may accept any p^ment or partial payment insufficient to bring the Loan
current without waivo- of anyrightshereunder or prejudice to itsrightsto refijse such payment or partial
p^mtiaits in tiie future,
but Lendo is not obligated to ^ply such p^^nents at the time such p^ntnoits are
aocq>ted. Ifeach Periodic P^mient is applied as of its sdieduloi due date, thoi Lendo need not pay
intoest on unapplied funds. Lendo may hold such unappUed funds until Borrowo makes p^^ment to bring
the Loan currort If Borrowo does not do so within a reasonable poiod oftime,Lendo shall eitiio apply
such fiinds or retum them to Borrowo. If not applied earlio, such fimds will be applied to the outstanding
principal balance under the Note immediatety prior to foreclosure.No o^et or claim which Borrower
might have now or in the future against Lendo shall relieve Borrowo fi'om making paymoits due undo
the Note and this Security Instnnnent or poforming the covoiants and agreements secured by this Security
Instrument
2. Application of Payments or Proceeds. Except is otherwise described in tillsSection 2, all
payments accq>ted and applied by Lendo shall be applied in the following ordo of priority: (a) intoest
due undo tiie Note; (b) principal due undo the Note; (c) amounts due undo Section 3. Sudi payments
shall be applied to each Periodic Payment in the order in which it became due. Any ronainii^ amounts
shall be applied first to late charges, second to any otho amounts due undo this Security Instrument and
thoi to reduce the prindpal balance ofthe Note.
If Lendo receives a payment from Borrowo for a delinquent Poiodic Payment Mdiich includes a
suffident amount to pay any late charge due, the payment m ^ be applied to tfae delinquent payment and
the late charge. If more than one Poiodic Payment is outstanding, Lendo may apply any payment received
firom Borrowo to the repayment of the Poiodic P^onents if, and to the extent that each payment
402118996 /2il 402118996
Initialt;^
N60(FL)(040I) page4ofi6 ^^ rT Form 3010 1/01
• ^
can be paid in full.
To the extent that any excess exists afto the payment is ^plied to the fullpayment of
one or more Poiodic Paymoits, such excess may be applied to any late charges due. Voluntary
prepaymoits shall be applied first to any prepayment charges and thoi as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to princii^al due undo
the Note shall not extend or ]X)Stpone the due date, or change the amount, ofthe Periodic Payments.
3. Fmids for Escrow Items. Borrowo shall pay to Lendo on the day Poiodic Payments are due
undo the Note, until the Note is paid in fiill,
a siun (the "Funds") to provide for payment of amounts due
for: (a) taxes and assessments and otho items which can attain priority ovo 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 undo Section 5; and (d) Mor^s^e Insurance
premiums, if any, or any sums payable by Borrower to Lendo in lieu of the piQmaent of Mortgage
Insurance premiunis in accordance with the provisions of Section 10. These items are called "Escrow
Itons." At origination or at any time during the term of the Loan, Lendo may require that Commimity
Association Dues, Fees, and Assessments, if any, be esoowed by Borrowo, and such dues, fees and
assessments shall be an Escrow Item. Borrowo shall promptiy fiimish to Lendo all notices of amounts to
be paid undo this Section. Borrowo shall pay Loido the Funds for Esoow Items unless Lendo waives
Borrowo's obligation to pay tiie Funds for any or all Escrow Items. Lendo may waive Borrowo's
obligation to pay to Lendo Funds for any or all Escrow Items at any time. Any such waivo may only be
in writing. In the event of such waivo, Borrowo shall pay directly, v^en and vrtioe payable, the amounts
due for any Esoow Items for which payment ofFunds has been waived by Lendo and, if Lendo requires,
shall fiimish to Loido receipts evidencing such payment within such time period as Lendo may require.
Borrowo's obligation to make such payments and to provide receipts shall for all purposes be deoned to
be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement"
is used in Section 9. If Borrowo is obligatedto p^ Esoow Items directly, pursuant to a waivo, and
Borrowo feils to pay the amount due for an Esoow Item, Lendo nay exodse its rights undo Section 9
and pay such amount and Borrowo ^lallthen be obligated undo Section 9 to repay to Lendo any such
anraunt Loido may revoke tiie waivo as to any or all Esoow Items at any time by a notice given in
accordance with Section 15 and, upon such revocation, Borrowo shall pay to Lendo all Funds, and in
such amounts, that are thoi required undo tiiis Section 3.
Lendo ms^, at any time, collect and hold Funds in an amount (a) sufficient to permit Lendo to apply
the Funds at the time specified undo RESPA, and (b) not to exceed the maximum amount a lendo can
require undo RESPA. Lendo shall estimate theamount of Funds due on the basis of current data and
reas4»^le estimates of expenditures of fiitureEscrow Items or otherwise in accordance with Applicable
Law.
The Funds shall be held in an institution whose deposits are insured by a federal agoicy,
instrumentality, or oitity (including Lendo, if Lendo is an institution ^^ose deposits are so insured) or in
any Fedoal Home Loan Bank. Lendo shall apply the Funds to pay the Escrow Items no lato than tiie time
spedfied undo RESPA. Lendo shall not charge Borrowo for holding and apptying tiie Funds, annually
analyzing the esoow accoimt, or voifying tiie Esoow Items, unless Lendo pays Borrowo intoest on the
Funds and i^plicable Law pennits Loido to make such a cfaarge. Unless an agreemoit is made in writing
or Applicable Law requires intoest to be paid on the Funds, Lender shall not be required to pay Borrower
any intoest or eamings on tfae Funds. Borrowo and Lendo can agree in writing, howevo, that interest
402118996 ^y/l 402118996
Inlliaia.-
SD(FL)(040i) Pa9e5oti6 Jff^ Form 3010 1/01
shall be paid on the Funds. Lender shall give to Borrowo, witfaoutcharge, an annual accounting of the
Funds as required by RESPA.
Ifthere is a surplus of Funds held in esoow, as defined under RESPA, Lender shall account to
Borrowo for the excess fimds in accordance witfa RESPA. If thoe is a shortage ofFunds held in escrow,
as defined undo RESPA, Lendo shall notify Borrower as required by RESPA, and Borrowo shall pay to
Lendo the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
monthly p^rments. If tiioe is a deficiency ofFunds held in escrow, as defined undo RESPA, Lendo shall
notify BOTrowCT as required by RESPA, and Borrowo shail pay to Lender the amount necessary to make
up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon ]}ayment in fiill of all sums secured by this Security Instrument Loido shall promptly refimd
to Borrowo any Funds held by Lender.
4. Charges; Liens. Borrowo shall pay all taxes, assessments, charges, fines, and impositions
attributable to the Propoty which can attain priority ovo this Security Instrument leasehold payments or
ground rents on the Property, ifany, and Commimity Association Dues, Fees, and Assessments, ifany. To
the extent that these items are Escrow Items, Borrowo shall pay tiion in the manno provided in Section 3.
Borrowo shall promptiy disdiarge any lien which has priority ovo tiiis Security Instrument unless
Borrower: (a) agrees in writing to the paymesat ofthe obligation secured by the lien in a maimo accqitable
to Lendo, but onty so long as Borrowo is performing such agreement; (b) contests the lien in good feith
by, or defends against enforcement oftfae lien in,legal proceedings wfaich in Lender's opinion operate to
prevem tfae enforconent of the lien wtule those [nroceedings are pending,but onty until such proceedings
are concluded; or (c) secures from tiie holdo ofthe lien an agreement satisfactory to Lendo subordinating
the lien to this Security Instrumoit.If Lendo detomines tiiat any part of the Property is subject to a lien
wMch can attain priority ovo tfais Security Instrumoit, Lendo may give Borrowo a notice identifying tfae
lien. Within 10 da)^ oftfae date on wfaicfa tfaat notice is givoi, Borrowo shall satisfy the lien or take one or
more oftfae actions set fortfa above in tfais Section 4.
Lendo may require Borrowo to p^ a one-time cfaarge for a real estate tax verification and/or
reporting sovice used by Lendo in connection with this Loan.
5. Property Insnrance. Borrowo diall keep the improvements now existing or hereafto oected on
the ProjTerty insured against loss byfir^ hazards included within the term "extoided coverage," and any
otho hazards including, but not limited to, earthquakes and floods, for whicfa Lendo requires insurance.
Tfais insurance shallbe m^ntained in tfae amounts (including deductible levels) and for tfae poiods tfaat
Lendo requires. What Lendo requires pursuant to the preceding sentences can change during tfae term of
tfae Loan. The insurance carrio providing the insurance shall be cfaosen by Borrowo subject toLoider's
right to dis^jprove Borrowo's dioice, wfaich rigfat shall
not be ecodsed unreasonabty. Lendo may
require Borrowo to pay, in connection with this Loan, eitho: (a) a one-time cfaarge for flood zone
determination, certificationand tracking services; or (b) a one-time charge for flood zone determination
and cotificationservices and subsequent charges each time remappings or similar changes occur which
reasonably might affect such determination or cotification. Borrowo sfaallalso be responsible for tfae
payment of any fees imposed by the Fedoal Emogency Management Agency in connection with the
review of any flood zone determination resulting from an objection by Borrowo.
402118996 ^,^M-i 402118996
N6D(FL)<04ai) Page6ofi6 Form 3010 1/01
/T
IfBorrowo feilsto maintain any of tfae covoages desoibed above, Lendo may obtain insurance
covoage, at Lendo's option and Borrowo's expense. Lendo isundo no obligation to purchase any
particulartype or amount of covoage. Therefore, such coverage shall cover Lender, but migfat ormight
not protect Borrower, Borrower's equity in the Property, or the contents ofthe Property, against any risk,
hazard or liability
and might provide greato or lesso coverage than was previously in effect Borrowo
acknowledges that the cost of the insurance coverage so obtained might significandy exceed the cost of
insurance tiiat Borrowo could have obtained. Any amounts disbursed by Lendo under this Section 5 shall
become additional debt of Borrowo secured by tfais Security Instrument Tfaese amounts shall bear intoest
at the Note rate from the date of disbursement and shall be payable, with such intoest, upon notice from
Lendo to Borrowo requesting paymoit
All insurance policies required by Lendo and renewals of such policies shall be subject to Lendo's
right todiss^rove such policies, shall include a standard mor^^e clause, and shall name Lendo as
nxiitgagee and/or as an additional loss payee. Lendo shallfaavetfae rigfat tofaoldtfae policies and renewal
certificates.
If Lendo requires, Borrowo sliall pron^itly give to Lendo all receipts of paid premiums and
renewal notices. If Borrowo obtains any form of insurance covoage, not otfaowise required by Lendo,
for damage to, or destmction of, tfae Property,such policy shallinclude a standard mortgage clause and
shall name Lendo as nmr^agee and/or as an additional loss p^ee.
In the event of loss. Borrower shall give prompt notice to the insurance carrio and Loido. Lendo
may make proof of loss if not made pron^tiy by Borrowo. Unless Loido and Borrowo otherwise agree
in writing, any insurance proceeds, wfaetfao or not the undolying insurance was required by Lendo, shall
be applied to restoration or repau- oftfae
Property, ifthe restoration or repair is economically feasible and
Lendo" s security is not lessened. During sudi repair and restoration poiod, Lendo sfaall have tfaerigfatto
hold sudt insurance proceeds until Lendo has had an opportunity to inspect sudi Pro])oty to ensure tfae
work has been completed to Loido's satlsfection,provided that sucfainspection shall be undertaken
prompdy. Loido m^ disburse proceeds for the repairs and restoration in a single p^ment or in a soies
of progr^s payments as the work is completed. Unless an agreement is made in writing or Applicable Law
requires intoest to be [>aid on sudi insurance proceeds, Lendo shall not be required to pay Borrowo any
intoest or eamings on sudi proceeds. Fees for public adjusters, or otfao third parties, retained by
BOTTOWO shall not be paid out oftiie insurance proceeds and sfaall be tfae sole obligation of Borrowo.If
tfae restoration or repair is not economically feasible or Lendo's security would be lessoied, tfae insurance
proceeds sfaallbe applied to tfae sums secured by this Security Instrument whetho or not then due, with
tfae excess, if any, paid to Borrowo. Sucfa insurance proceeds sfaall be applied in tfae order provided for in
Section 2.
If Borrowo abandons tfae Propoty, Lendo may file,negotiate and setde any available insurance
claim and related mattos. If Borrowo does not respond witfain 30 days to a notice from Lendo tfaat the
insurance carrio has o f ^ e d
to setde a claim, then Lendo may negotiate and setde tfae claim. Tfae 30-day
poiod will begin \^en die notice is given. In eitfao event, or ifLendo acquires tfae Property imder
Section 22 or otherwise, Borrowo faoeby assigns to Lendo (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 otfao of Borrowo's rigfats(otfao than the right to any refimd of uneamed premiums paid by
Borrowo) undo all insurance polides covoing tfae Property, insofaras sucfa rigfats are qiplicable to tfae
coverage oftfae Property. Loido may use tfae insurance proceeds eitfao to repair or restore die Property or
to pay ainounts unpaid undo tfae Note or tfais Security Instrument, wfaetho or not tfaen due.
402118996 ^ ^ 402118996
D(FL)(04oi) Pa887on6 r-x Form 3010 1/01
6. Occapancy. Bonowo sfaalloccupy, establish,and use the Propeity as Bonower's principal
residence within60 days afto the execution of this Security Instrumentand shall continue to occupy tfae
Propoty as Bonower's principal residence for at least one year afto die date of occupancy, unless Lendo
otherwise agrees in writing, wfaidi consent shall not be unreasonably withfaeld, or unless extenuating
circumstances exist wfaich are beyond Bonower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Bonowo shall not
destroy, dan^e or impair tfaeProperty, allow tfaeProperty to detoiorate or commit waste on the
I*ropoty. Whetho or not Bonowo is residingin the Property, Bonower shall maintain the Property in
ordo to prevoit the Property from deteriorating or deoeasing in value due to its condition. Unless it is
determined pursuant to Section 5 that repairor restoration is not economically feasible,Bonowo sfaall
prompdy repair tfaeProperty if damaged to avoid fiirtfaodeterioration or damage. If insurance or
condonnation proceeds are paid in connection witfa damage to, or the taking of,the Property, Bonower
shall be responsible forrepairing or restoring the Property only if Lendo has released proceeds for sucfa
purposes. Lendo may disburse proceeds for the repairs and restoration in a single payment or in a soies of
progress payments as the work is completed. If tfae insurance or condemnation proceeds are not suffident
to repw or restore die Property, Bonowo is not relieved of Bonowo's obligation fiir the completionof
such repair or restoration.
Lendo or its %ent may make reasonable entries upon and inspections of the Property. If it has
reasonable cause, Loido may inspect the interior ofthe improvonents on the Property. Lendo shall give
Boirowo notice at tfae time of or prior to such an interior inspection spedfying
sucfa reasonable cause.
8. Borrower's Loan Application. Borrowo sfaall
be in default if, during tiie Loan {plication
process, Bonowo or any posons or entitiesacting at tfae directionof Bonowo or witfa Borrowo's
knowledge or consent gave matoialty feJse, misleading, or inaccurate infonnation or statements to Lendo
(or feiled to provide Lendo witfa matoial infonnation) in connection witfa the Loan. Material
r^iresentations include, but are not limited to, r^resoitations conconing Bonowo's occupancy of the
Property as Bonower" s prindpa] residence.
9. Protection of Lender's Interest in the Property and Rights Under this Secarity InstrumenL If
(a) Brarowo fails to perform tfae covenants and agreements contained in this Security Instrument (b) tiioe
is a l^al proceeding tfaat migfat significantly
affectLendo's intoest in the Propoty and/or rightsundo
this Security Instrument (such as a proceeding in bankmptcy, probate, for condemnation or forfeiture, for
enforcement of a lien wfaicfamay attain priority ovo tfaisSecurity Instrument or to enforce laws or
regulations),or (c) Bonowo faas abandoned the Property, then Lendo may do and pay fw v/baiever is
reas(»iableor appropriate to protect Lender's intoest in tfaeProperty and rights undo tfaisSecurity
Instrumoit including protecting and/or assessing tiie value oftfae
Propoty, and securing and/or repairing
the Propoty. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien
wfaich has priorityovo this Security Instrument; (b) appearing in court; and (c) jiaying reasonable
attorneys' fees to protect its intoest in the Property and/or rights undo tiiis Security Instrumoit,
including
its secured position in a banknqitcy proceeding. Securing tfae Property includes, but is not limited to,
entering die Property to make repairs, change locks, replace or board up doors and windows, drain wato
from pipes, eliminate building or otfao code violations or dangoous conditions, and have utilities tumed
on or off.Althougfa Lender may take action undo tfais Section 9, Lendo does not have to do so and is not
undo any duty or obligation to do so. It is agreed that Lendo incurs no liability fornot taking any or all
actioiB authorirod undo tiiis Section 9.
402118996
D(FL)(040i) PagaSofie M
'
U
^—^
^ 402118996
Form 3010 1/01
%
•v--'
Any amounts disbursed by Lendo under tfais
Section 9 sfaallbecome additional debt of Bonowo
secured by tfais SecurityInstrument. These amounts sfaall bearintoest at the Note rate from tfae date of
disbursement and sfaallbe payable, witfa sucfaintoest, upon notice from Loido to Bonowo requesting
payment
If thisSecurity Instrument is on a leasehold,Bonower shallconply with alltfae provisions of the
lease. If Bonowo acquires fee tide to the Property,the leasehold and the fee tide shall not moge unless
Lendo agrees to the m o g o in writing.
10. Mortgage Insurance. If Lendo required McBtgage Insurance as a condition of making the Loan,
Bonowo shall pay the premiums required to maintain the Mortgage Insurance in effect. If,for any reason,
the Mortgage Insurance covoage required by Lendo ceases to be available from tfae mortgage insuro tfaat
previously provided such insurance and Bonowo was required to make separately designated payments
toward the premiums for Mortgage Insurance, Bonowo shall pay the premiums required to obtain
coverage substantialtyequivalent to the Mortgage Insurance previously in effect at a cost substantially
equivalent to tfaecost to Bonowo of tfaeM
Preview
^5' FIFTH THIRD MORTGAGE COMPANY, IN THE CIRCUIT COURT OF THE 9TH JUDICIAL CIRCUIT IN AND FOR Plaintiff, ORANGE COUNTY, FLORIDA Vs. C^^ENO.|)2_(2^_jg^Qq^ SHARON ADAM and SAHEED ADAM, his wife; COMPLAINT ^ ^ ^ JOHN DOE and MARY DOE; SAVANNAH PINES CONDOMINIUM, INC., Defendants, / Plaintiff, FIFTH THIRD MORTGAGE COMPANY, sues defendants SHARON ADAM C2 CD g and SAHEED ADAM, his wife; JOHN DOE and MARY DOE; SAVA^^. P ^ S 3 !>• CONDOMINIUM, INC., and alleges: OS 5 COUNT I 1. This is an action to foreclose a mortgage on real property in Ofi^cSQE Cqjgjty, m Florida. 2. On MAY 15, 2006 Mortgagor(s), SHARON ADAM, a married woman, executed _ and delivered a promissory note and purchase money mortgage securing payment of it to FIFTH ^>^ THIRD MORTGAGE COMPANY. SAHEED ADAM, SPOUSE OF SHARON ADAM, '^ ^ executed the mortgage. The mortgage was recorded on MAY 19, 2006 in Official Records Book 8652 at page 1056 ofthe Public Records ofORANGE County, Florida and mortgaged the real property described in it, then owned by and in possession of the mortgagor, a copy of the mortgage and a copy ofthe note being attached hereto as Exhibit "A". 3. PlaintifF, as servicer for the owner and acting on behalf of the owner with authority to do so, is the present designated holder of the note and mortgage with authority to pursue the present action. 4. The property is now owned by Defendant(s), SHARON ADAM who holds possession. 5. The Note and Mortgage are in default as the amount due on NOVEMBER 1, 2007, and all subsequent payments have not been made. 6. Plaintiff declares the full amount payable under the note and mortgage to be due. 7. Plaintiff is owed ONE HUNDRED FOURTY SEVEN THOUSAND SEVEN HUNDRED FOURTY SIX AND 29/100 ($147,746.29) Dollars that is due on principal on the note and mortgage, interest from OCTOBER 1, 2007, plus taxes, insurance and late charges. 8. Plaintiff is obligated to pay its attomeys a reasonable fee for their services and is entitled to attomey's fees under the Note and Mortgage. 9. Plaintiff, has complied with all ofthe terms and conditions precedent with which it is required to comply with. 10. Defendant, SAHEED ADAM, may claim to have some right or interest in the subject real property, arising out of his/her marriage to Defendant SAHEED ADAM, if married. However, any right or interest of said Defendant is subject to and inferior to the right and interest ofPlaintiff. 11. Defendant, JOHN DOE and MARY DOE, may claim to have some right or interest in the subject real property arising out of his/her/their occupancy of the subject real property. However, any right or interest of said Defendant is subject to and inferior to the right and interest ofPlaintiff. 12. Defendant, SAVANNAH PINES CONDOMINIUM, INC., may claim to have some right or interest in the subject real property. However, any right or interest of said Defendant is subject to and inferior to the right and interest ofPlaintiff. 13. Further joined to this action if any of the above Defendant(s), who are natural persons are dead, are the unknown Defendant(s), who may be spouses, heirs, devisees, of such Defendant(s), and additional unknown Defendant(s) as successors in interest, grantees, assignees, lienors, creditors, trustees, and all parties claiming interest by, through, under or against the Defendant(s) who are not known to be dead or alive, and all parties having or claiming to have any right, title or interest in the property described in the mortgage being foreclosed herein. WHEREFORE, Plaintiff demands judgment foreclosing the mortgage and ifthe proceeds of the sale are insufficient to pay Plaintiffs claim, a deficiency judgment, including costs and attomey's fees against Defendant(s). COUNT II 14. Plaintiff re-alleges the allegations contained in paragraph 2 of Count I and further alleges. 15. This is an action to re-establish and enforce a lost and/or destroyed mortgage pursuant to Florida Statute 673.3091. 16. The Plaintiff owned, held and was in possession of the original mortgage and entitled to enforce it when the loss of possession occurred. 17. The Plaintiffhas conducted a very diligent search to find the original mortgage and has been unable to locate it. 18. The loss of possession was not the result of a transfer by Plaintiff or a lawfiil seizure. 19. Plaintiff cannot reasonably obtain possession ofthe original mortgage because it was destroyed and/or its whereabouts cannot be determined. 20. The parties to this action are the only persons known to Plaintiff who are interested for br against such re-establishment and enforcement. 21. The subject mortgage has not been sold, pledged or hypothecated to any entity. WHEREFORE, Plaintiff requests this court to re-establish the mortgage and to foreclose on it. SPEAR AND HOFFMAN, P.A. 9700 South Dixie Highway, Suite 610 Miami, Florida 33156 Tel: (305) 670-2299 Fax: (305) 670-9503 L. JOSEBHiBHH( HOFFMAN FloridaBarNo. 127710 jhoffman(a),spearhoffman.com Adam-Sharon.co/sph Loan No. 402118996/FTA-C-228 P, Law Offices ^ ^^ f,f. opear and Hoinnan, PA. 1.1.0 spe. (.9221976) May 19, 2008 Sharon Adam 10612 Savannah Wood Court Unit 86 Orlando, Fl 32832 RE: Fifth Third Mortgage Company, vs. Sharon Adam, et ux., et al., LOAN #402118996 Dear Mortgagor: We have been retained by the Creditor to file the attached foreclosure suit. As ofthe date ofthis letter. May 19, 2008, you owe the sum of $157,899.73. Because of interest, late charges, and other charges that may vary from day to day, the amount due on the day you pay may be greater. Hence, ifyou pay the amount shown above, an adjustment may be necessary after we receive your payment, in which event we will inform you before depositing the check for collection. For fiirther information, write to Spear & Hoffman, P.A. or call (305) 670-2299. Below is the breakdown ofthe amount due: Principal Balance $ 147,746.29 Interest from 10/1/07 to 5/19/2008 $ 7,249.19 Late Charge $ 321.30 Escrow Advance $ 870.36 Other Charges $ 644.09 Attorney's Fees & Costs $ 1.068.50 TOTAL: $ 157,899.73 L. JOSEPH HOFFMAN LJH/SPH/FTA-C-228 ALL FUNDS SUBMITTED MUST BE CERTIFIED AND MADE PAYABLE TO SPEAR & HOFFMAN TRUST ACCOUNT. NOTE: PURSUANT TO THE FAIR DEBT COLLECTION PRACTICES ACT, YOU ARE ADVISED THAT THIS OFFICE IS ATTEMPTING TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. Please refer to the attached Notice Required by the Fair Debt Collection Practices Act. 9700 South Dixie Highway, Suite 610 / Miami, Florida 33156 / (305) 670-2299 / Fax (305) 670-9503 www.spearhoflfiiian.com NOTICE REQUIRED BY THE FAIR DEBT COLLECTION PRACTICES ACT, fthe Act) 15 U.S.C. SECTION 1601 AS AMENDED 1. This law firm may be deemed a "debt collector" under the Fair Debt Collection Practices Act. Any and all information obtained during the prosecution ofthis lawsuit may be used for the purpose of collecting a debt. 2. The amount ofthe debt is stated in the attached letter. 3. The Plaintiff as named in the attached letter is the creditor to whom the debt is owed, or is the servicing agent for the creditor to whom the debt is owed. The undersigned attomey represents the interests ofthe Plaintiff. 4. The debt described in the letter evidenced by the copy ofthe mortgage note attached hereto will be assumed to be valid by the creditor's law firm unless the debtor, within thirty days after the receipt ofthis notice, disputes in writing the validity ofthe debt or some portion thereof 5. Ifthe debtor notifies the creditor's law firm in writing within thirty days ofthe receipt ofthis notice that the debt or any portion thereof is disputed, the creditor's law firm will obtain a verification ofthe debt and a copy ofthe verification will be mailed to the debtor by the creditor's law firm. 6. Ifthe creditor named as Plaintiff in the attached letter is not the original creditor, and ifthe debtor makes a written request to the creditor's law firm within the thirty days from the receipt of this notice, the name and address ofthe original creditor will be mailed to the debtor by the creditor's law firm. 7. FEDERAL LAW GIVES YOU THIRTY DAYS AFTER YOU RECEIVE THIS NOTICE TO DISPUTE THE VALIDITY OF THE DEBT OR ANY PART OF IT. THE LAW DOES NOT REQUIRE THAT WE WAIT UNTIL THE END OF THE THIRTY-DAY PERIOD TO CONTINUE WITH THE SUBJECT LEGAL ACTION. IF, HOWEVER, YOU REQUEST PROOF OF THE DEBT OR THE NAME AND ADDRESS OF THE ORIGINAL CREDITOR WITHIN THE THIRTY-DAY PERIOD THAT BEGINS WITH YOUR RECEIPT OF THIS LETTER, THE LAW REQUIRES THAT WE SUSPEND OUR EFFORTS (THROUGH LIFIGATION OR OTHERWISE) TO COLLECT THE MORTGAGE AND NOTE, INCLUDING SEEKING A DEFAULT BV THE FORECLOSURE SUIT FOR YOUR FAILURE TO RESPOND TO THE ATTACHED COMPLAINT WITHIN THE TIME REQUIRED UNDER THE SUMMONS, UNTIL WE MAIL THE REQUESTED INFORMATION TO YOU. IF YOU REQUEST VALIDATION OF THE DEBT, AS STATED HEREIN, YOU ARE UNDER NO OBLIGATION TO RESPOND TO THE SUMMONS AND COMPLAINT UNTIL WE RESPOND WITH THE REQUESTED INFORMATION 8. Written requests should be addressed to Spear & Hoffman, P.A., at 9700 South Dixie Highway, Suite 610, Miami, Florida 33156. EXHIBIT "B" INSTR 20060331210 Return To: OR BK 06652 PG 1056 PGS=25 MARTHA 0. HAYNIE, COKiPTRCLLtK Fifth Third Mortgage Conpany ORANGE COUNTY, FL 5001 Kingsley Drive, MD: 05/13/2806 12:08:44 PM 1M0B3A tITG DOC TAX 523.60 Cincinnati, OH 45227 INTANG TAX S93.04 REC FEE 214.00 This document was prepared by: Xiomara Barrero Fifth Third Mortgage Conpany 5050 Kingsley Drive MD IMOB 2X Cincinnati, OH 45263 [Space Above This Lioe For Recording Data|- ^Universal Land Title 245 uite WFairbanks 350 Ave. MORTGAGE inter Park, FL 32789 iie Nuinber; 41637-14 #1509 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13. 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) 'Security Instmment" means tfiis document, wfaich is datedMay 15,2006 tog^her with all Rid^s to tiiis document (B) "Borrower"is S h a r o n Adam, a married woman, joined by Saheed Adam, her husband Borrower is the mortgagor under this Security Instrument (Q "Lender" is Fifth Third Mortgage Conpany Lends is a c o x p o r a t i o n organized and existing under the laws of t h e state of Ohio 402118996 402118996 FLORIDA-SingIa Family-Fannie Ma«/Fre(ldle Mac UNIFORMINSTRUMENT Form 3010 1/01 $D(FL)(040i) Ps9« 1 of 16 Initial VMP Mortgage Solutions (800)521-7291 0344010402118996 L^da-'s address is 5050 Kingsley Drive, MD IMOB 2X, Cincinnati., OH 45263 Lender is the mortgagee under this Security Instrument (D) "Note" means the promissory note signed by Borrower and datedMay 15,2006 The Note states that Borrower owes Lender One Hundred Forty Nine Thousand Five Hundred Nineteen And Zero/100 Dollars (U.S. S 1 4 9 , 5 1 9 . 0 0 ) plus interest. Borrows has promised to pay this debt in regular Periodic Payments and to pay the debt in fiill not later than June 01, 2036 (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 intaest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument plus interest (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Ridos are to be executed by Borrower [check box as applicable]: L3 Adjustable Rate Rider LxJ Condominium Rider LZI Second Home Rider CU Balloon Rider Sl Plaimed Unit Development Rider H 1-4 Family Rido- • VA Rider • Biweekly Payment Rider • Othei\^ose 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 otho* location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender m ^ r^um any payment or partial payment if the payment or partial payments are insufScient to bring the Loan current Lender may accept any p^ment or partial payment insufficient to bring the Loan current without waivo- of anyrightshereunder or prejudice to itsrightsto refijse such payment or partial p^mtiaits in tiie future, but Lendo is not obligated to ^ply such p^^nents at the time such p^ntnoits are aocq>ted. Ifeach Periodic P^mient is applied as of its sdieduloi due date, thoi Lendo need not pay intoest on unapplied funds. Lendo may hold such unappUed funds until Borrowo makes p^^ment to bring the Loan currort If Borrowo does not do so within a reasonable poiod oftime,Lendo shall eitiio apply such fiinds or retum them to Borrowo. If not applied earlio, such fimds will be applied to the outstanding principal balance under the Note immediatety prior to foreclosure.No o^et or claim which Borrower might have now or in the future against Lendo shall relieve Borrowo fi'om making paymoits due undo the Note and this Security Instnnnent or poforming the covoiants and agreements secured by this Security Instrument 2. Application of Payments or Proceeds. Except is otherwise described in tillsSection 2, all payments accq>ted and applied by Lendo shall be applied in the following ordo of priority: (a) intoest due undo tiie Note; (b) principal due undo the Note; (c) amounts due undo Section 3. Sudi payments shall be applied to each Periodic Payment in the order in which it became due. Any ronainii^ amounts shall be applied first to late charges, second to any otho amounts due undo this Security Instrument and thoi to reduce the prindpal balance ofthe Note. If Lendo receives a payment from Borrowo for a delinquent Poiodic Payment Mdiich includes a suffident amount to pay any late charge due, the payment m ^ be applied to tfae delinquent payment and the late charge. If more than one Poiodic Payment is outstanding, Lendo may apply any payment received firom Borrowo to the repayment of the Poiodic P^onents if, and to the extent that each payment 402118996 /2il 402118996 Initialt;^ N60(FL)(040I) page4ofi6 ^^ rT Form 3010 1/01 • ^ can be paid in full. To the extent that any excess exists afto the payment is ^plied to the fullpayment of one or more Poiodic Paymoits, such excess may be applied to any late charges due. Voluntary prepaymoits shall be applied first to any prepayment charges and thoi as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to princii^al due undo the Note shall not extend or ]X)Stpone the due date, or change the amount, ofthe Periodic Payments. 3. Fmids for Escrow Items. Borrowo shall pay to Lendo on the day Poiodic Payments are due undo the Note, until the Note is paid in fiill, a siun (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and otho items which can attain priority ovo 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 undo Section 5; and (d) Mor^s^e Insurance premiums, if any, or any sums payable by Borrower to Lendo in lieu of the piQmaent of Mortgage Insurance premiunis in accordance with the provisions of Section 10. These items are called "Escrow Itons." At origination or at any time during the term of the Loan, Lendo may require that Commimity Association Dues, Fees, and Assessments, if any, be esoowed by Borrowo, and such dues, fees and assessments shall be an Escrow Item. Borrowo shall promptiy fiimish to Lendo all notices of amounts to be paid undo this Section. Borrowo shall pay Loido the Funds for Esoow Items unless Lendo waives Borrowo's obligation to pay tiie Funds for any or all Escrow Items. Lendo may waive Borrowo's obligation to pay to Lendo Funds for any or all Escrow Items at any time. Any such waivo may only be in writing. In the event of such waivo, Borrowo shall pay directly, v^en and vrtioe payable, the amounts due for any Esoow Items for which payment ofFunds has been waived by Lendo and, if Lendo requires, shall fiimish to Loido receipts evidencing such payment within such time period as Lendo may require. Borrowo's obligation to make such payments and to provide receipts shall for all purposes be deoned to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrowo is obligatedto p^ Esoow Items directly, pursuant to a waivo, and Borrowo feils to pay the amount due for an Esoow Item, Lendo nay exodse its rights undo Section 9 and pay such amount and Borrowo ^lallthen be obligated undo Section 9 to repay to Lendo any such anraunt Loido may revoke tiie waivo as to any or all Esoow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrowo shall pay to Lendo all Funds, and in such amounts, that are thoi required undo tiiis Section 3. Lendo ms^, at any time, collect and hold Funds in an amount (a) sufficient to permit Lendo to apply the Funds at the time specified undo RESPA, and (b) not to exceed the maximum amount a lendo can require undo RESPA. Lendo shall estimate theamount of Funds due on the basis of current data and reas4»^le estimates of expenditures of fiitureEscrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agoicy, instrumentality, or oitity (including Lendo, if Lendo is an institution ^^ose deposits are so insured) or in any Fedoal Home Loan Bank. Lendo shall apply the Funds to pay the Escrow Items no lato than tiie time spedfied undo RESPA. Lendo shall not charge Borrowo for holding and apptying tiie Funds, annually analyzing the esoow accoimt, or voifying tiie Esoow Items, unless Lendo pays Borrowo intoest on the Funds and i^plicable Law pennits Loido to make such a cfaarge. Unless an agreemoit is made in writing or Applicable Law requires intoest to be paid on the Funds, Lender shall not be required to pay Borrower any intoest or eamings on tfae Funds. Borrowo and Lendo can agree in writing, howevo, that interest 402118996 ^y/l 402118996 Inlliaia.- SD(FL)(040i) Pa9e5oti6 Jff^ Form 3010 1/01 shall be paid on the Funds. Lender shall give to Borrowo, witfaoutcharge, an annual accounting of the Funds as required by RESPA. Ifthere is a surplus of Funds held in esoow, as defined under RESPA, Lender shall account to Borrowo for the excess fimds in accordance witfa RESPA. If thoe is a shortage ofFunds held in escrow, as defined undo RESPA, Lendo shall notify Borrower as required by RESPA, and Borrowo shall pay to Lendo the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly p^rments. If tiioe is a deficiency ofFunds held in escrow, as defined undo RESPA, Lendo shall notify BOTrowCT as required by RESPA, and Borrowo shail pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon ]}ayment in fiill of all sums secured by this Security Instrument Loido shall promptly refimd to Borrowo any Funds held by Lender. 4. Charges; Liens. Borrowo shall pay all taxes, assessments, charges, fines, and impositions attributable to the Propoty which can attain priority ovo this Security Instrument leasehold payments or ground rents on the Property, ifany, and Commimity Association Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrowo shall pay tiion in the manno provided in Section 3. Borrowo shall promptiy disdiarge any lien which has priority ovo tiiis Security Instrument unless Borrower: (a) agrees in writing to the paymesat ofthe obligation secured by the lien in a maimo accqitable to Lendo, but onty so long as Borrowo is performing such agreement; (b) contests the lien in good feith by, or defends against enforcement oftfae lien in,legal proceedings wfaich in Lender's opinion operate to prevem tfae enforconent of the lien wtule those [nroceedings are pending,but onty until such proceedings are concluded; or (c) secures from tiie holdo ofthe lien an agreement satisfactory to Lendo subordinating the lien to this Security Instrumoit.If Lendo detomines tiiat any part of the Property is subject to a lien wMch can attain priority ovo tfais Security Instrumoit, Lendo may give Borrowo a notice identifying tfae lien. Within 10 da)^ oftfae date on wfaicfa tfaat notice is givoi, Borrowo shall satisfy the lien or take one or more oftfae actions set fortfa above in tfais Section 4. Lendo may require Borrowo to p^ a one-time cfaarge for a real estate tax verification and/or reporting sovice used by Lendo in connection with this Loan. 5. Property Insnrance. Borrowo diall keep the improvements now existing or hereafto oected on the ProjTerty insured against loss byfir^ hazards included within the term "extoided coverage," and any otho hazards including, but not limited to, earthquakes and floods, for whicfa Lendo requires insurance. Tfais insurance shallbe m^ntained in tfae amounts (including deductible levels) and for tfae poiods tfaat Lendo requires. What Lendo requires pursuant to the preceding sentences can change during tfae term of tfae Loan. The insurance carrio providing the insurance shall be cfaosen by Borrowo subject toLoider's right to dis^jprove Borrowo's dioice, wfaich rigfat shall not be ecodsed unreasonabty. Lendo may require Borrowo to pay, in connection with this Loan, eitho: (a) a one-time cfaarge for flood zone determination, certificationand tracking services; or (b) a one-time charge for flood zone determination and cotificationservices and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or cotification. Borrowo sfaallalso be responsible for tfae payment of any fees imposed by the Fedoal Emogency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrowo. 402118996 ^,^M-i 402118996 N6D(FL)<04ai) Page6ofi6 Form 3010 1/01 /T IfBorrowo feilsto maintain any of tfae covoages desoibed above, Lendo may obtain insurance covoage, at Lendo's option and Borrowo's expense. Lendo isundo no obligation to purchase any particulartype or amount of covoage. Therefore, such coverage shall cover Lender, but migfat ormight not protect Borrower, Borrower's equity in the Property, or the contents ofthe Property, against any risk, hazard or liability and might provide greato or lesso coverage than was previously in effect Borrowo acknowledges that the cost of the insurance coverage so obtained might significandy exceed the cost of insurance tiiat Borrowo could have obtained. Any amounts disbursed by Lendo under this Section 5 shall become additional debt of Borrowo secured by tfais Security Instrument Tfaese amounts shall bear intoest at the Note rate from the date of disbursement and shall be payable, with such intoest, upon notice from Lendo to Borrowo requesting paymoit All insurance policies required by Lendo and renewals of such policies shall be subject to Lendo's right todiss^rove such policies, shall include a standard mor^^e clause, and shall name Lendo as nxiitgagee and/or as an additional loss payee. Lendo shallfaavetfae rigfat tofaoldtfae policies and renewal certificates. If Lendo requires, Borrowo sliall pron^itly give to Lendo all receipts of paid premiums and renewal notices. If Borrowo obtains any form of insurance covoage, not otfaowise required by Lendo, for damage to, or destmction of, tfae Property,such policy shallinclude a standard mortgage clause and shall name Lendo as nmr^agee and/or as an additional loss p^ee. In the event of loss. Borrower shall give prompt notice to the insurance carrio and Loido. Lendo may make proof of loss if not made pron^tiy by Borrowo. Unless Loido and Borrowo otherwise agree in writing, any insurance proceeds, wfaetfao or not the undolying insurance was required by Lendo, shall be applied to restoration or repau- oftfae Property, ifthe restoration or repair is economically feasible and Lendo" s security is not lessened. During sudi repair and restoration poiod, Lendo sfaall have tfaerigfatto hold sudt insurance proceeds until Lendo has had an opportunity to inspect sudi Pro])oty to ensure tfae work has been completed to Loido's satlsfection,provided that sucfainspection shall be undertaken prompdy. Loido m^ disburse proceeds for the repairs and restoration in a single p^ment or in a soies of progr^s payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires intoest to be [>aid on sudi insurance proceeds, Lendo shall not be required to pay Borrowo any intoest or eamings on sudi proceeds. Fees for public adjusters, or otfao third parties, retained by BOTTOWO shall not be paid out oftiie insurance proceeds and sfaall be tfae sole obligation of Borrowo.If tfae restoration or repair is not economically feasible or Lendo's security would be lessoied, tfae insurance proceeds sfaallbe applied to tfae sums secured by this Security Instrument whetho or not then due, with tfae excess, if any, paid to Borrowo. Sucfa insurance proceeds sfaall be applied in tfae order provided for in Section 2. If Borrowo abandons tfae Propoty, Lendo may file,negotiate and setde any available insurance claim and related mattos. If Borrowo does not respond witfain 30 days to a notice from Lendo tfaat the insurance carrio has o f ^ e d to setde a claim, then Lendo may negotiate and setde tfae claim. Tfae 30-day poiod will begin \^en die notice is given. In eitfao event, or ifLendo acquires tfae Property imder Section 22 or otherwise, Borrowo faoeby assigns to Lendo (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 otfao of Borrowo's rigfats(otfao than the right to any refimd of uneamed premiums paid by Borrowo) undo all insurance polides covoing tfae Property, insofaras sucfa rigfats are qiplicable to tfae coverage oftfae Property. Loido may use tfae insurance proceeds eitfao to repair or restore die Property or to pay ainounts unpaid undo tfae Note or tfais Security Instrument, wfaetho or not tfaen due. 402118996 ^ ^ 402118996 D(FL)(04oi) Pa887on6 r-x Form 3010 1/01 6. Occapancy. Bonowo sfaalloccupy, establish,and use the Propeity as Bonower's principal residence within60 days afto the execution of this Security Instrumentand shall continue to occupy tfae Propoty as Bonower's principal residence for at least one year afto die date of occupancy, unless Lendo otherwise agrees in writing, wfaidi consent shall not be unreasonably withfaeld, or unless extenuating circumstances exist wfaich are beyond Bonower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Bonowo shall not destroy, dan^e or impair tfaeProperty, allow tfaeProperty to detoiorate or commit waste on the I*ropoty. Whetho or not Bonowo is residingin the Property, Bonower shall maintain the Property in ordo to prevoit the Property from deteriorating or deoeasing in value due to its condition. Unless it is determined pursuant to Section 5 that repairor restoration is not economically feasible,Bonowo sfaall prompdy repair tfaeProperty if damaged to avoid fiirtfaodeterioration or damage. If insurance or condonnation proceeds are paid in connection witfa damage to, or the taking of,the Property, Bonower shall be responsible forrepairing or restoring the Property only if Lendo has released proceeds for sucfa purposes. Lendo may disburse proceeds for the repairs and restoration in a single payment or in a soies of progress payments as the work is completed. If tfae insurance or condemnation proceeds are not suffident to repw or restore die Property, Bonowo is not relieved of Bonowo's obligation fiir the completionof such repair or restoration. Lendo or its %ent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Loido may inspect the interior ofthe improvonents on the Property. Lendo shall give Boirowo notice at tfae time of or prior to such an interior inspection spedfying sucfa reasonable cause. 8. Borrower's Loan Application. Borrowo sfaall be in default if, during tiie Loan {plication process, Bonowo or any posons or entitiesacting at tfae directionof Bonowo or witfa Borrowo's knowledge or consent gave matoialty feJse, misleading, or inaccurate infonnation or statements to Lendo (or feiled to provide Lendo witfa matoial infonnation) in connection witfa the Loan. Material r^iresentations include, but are not limited to, r^resoitations conconing Bonowo's occupancy of the Property as Bonower" s prindpa] residence. 9. Protection of Lender's Interest in the Property and Rights Under this Secarity InstrumenL If (a) Brarowo fails to perform tfae covenants and agreements contained in this Security Instrument (b) tiioe is a l^al proceeding tfaat migfat significantly affectLendo's intoest in the Propoty and/or rightsundo this Security Instrument (such as a proceeding in bankmptcy, probate, for condemnation or forfeiture, for enforcement of a lien wfaicfamay attain priority ovo tfaisSecurity Instrument or to enforce laws or regulations),or (c) Bonowo faas abandoned the Property, then Lendo may do and pay fw v/baiever is reas(»iableor appropriate to protect Lender's intoest in tfaeProperty and rights undo tfaisSecurity Instrumoit including protecting and/or assessing tiie value oftfae Propoty, and securing and/or repairing the Propoty. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien wfaich has priorityovo this Security Instrument; (b) appearing in court; and (c) jiaying reasonable attorneys' fees to protect its intoest in the Property and/or rights undo tiiis Security Instrumoit, including its secured position in a banknqitcy proceeding. Securing tfae Property includes, but is not limited to, entering die Property to make repairs, change locks, replace or board up doors and windows, drain wato from pipes, eliminate building or otfao code violations or dangoous conditions, and have utilities tumed on or off.Althougfa Lender may take action undo tfais Section 9, Lendo does not have to do so and is not undo any duty or obligation to do so. It is agreed that Lendo incurs no liability fornot taking any or all actioiB authorirod undo tiiis Section 9. 402118996 D(FL)(040i) PagaSofie M ' U ^—^ ^ 402118996 Form 3010 1/01 % •v--' Any amounts disbursed by Lendo under tfais Section 9 sfaallbecome additional debt of Bonowo secured by tfais SecurityInstrument. These amounts sfaall bearintoest at the Note rate from tfae date of disbursement and sfaallbe payable, witfa sucfaintoest, upon notice from Loido to Bonowo requesting payment If thisSecurity Instrument is on a leasehold,Bonower shallconply with alltfae provisions of the lease. If Bonowo acquires fee tide to the Property,the leasehold and the fee tide shall not moge unless Lendo agrees to the m o g o in writing. 10. Mortgage Insurance. If Lendo required McBtgage Insurance as a condition of making the Loan, Bonowo shall pay the premiums required to maintain the Mortgage Insurance in effect. If,for any reason, the Mortgage Insurance covoage required by Lendo ceases to be available from tfae mortgage insuro tfaat previously provided such insurance and Bonowo was required to make separately designated payments toward the premiums for Mortgage Insurance, Bonowo shall pay the premiums required to obtain coverage substantialtyequivalent to the Mortgage Insurance previously in effect at a cost substantially equivalent to tfaecost to Bonowo of tfaeM