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IN THE CIRCUIT COURT OF THE 9TH
JUDICIAL CIRCUIT, IN AND FOR ORANGE
COUNTY, FLORIDA
GENERAL JURISDICTION DIVISION
CASE NO: 48-2008-CA-Ol 1802 DIV. 37
INDYMAC BANK, FSB
PLAINTIFF
VS.
SHIRLEY BAILEY, ET AL
JDEraNDANT^
ORIGINAL DOCUMENTS
The attached originals are to be placed in the Court file:
Original Note
Original Mortgage
Ongmal Assignments
Original Rider
Other
Dated:October 15, 2008
DOC tt20080333326 B: 9708 P: 4924
ee/es/zaesie:e4:42 AH Page tor i
R«c Fae: $10.00 Doc Type; fl
Dead Doe Tax: $0.00
IntangibleTax: $0.00
nortgage Stamp:$0.00
tlartha 0, Haynla, Coniptrcllsr
Orange County, FL
ns - Ret To: OAVIDJ STERN
I'ri'jwrt'tt by;O A V I D ) . STERN. ESie assignee, Ihc mortgage
execuied by SHIRLEY BAILEY AND NAWAN BA1\E Y \ A N D DENISE REVELS
recorded in ORANGE County, Florida at/^'-book9056 an page 838 encumbering the
propertymore particularly described as follows:
/
I.OT 120,
WESTLAKE UNIT 2, ACCORDINGTO THE PLAT-THEREOF"ftBCl EDIN PLAT BOOK41, PAGES
95 AND 96, OF THE PUBLIC RECORDS OF ORANGE COUNTYTFLQRIDA
logether with the nole and each Jnd-^very other oml^t.k'n scribed in said
martgage and the money due and lo becoin^ue
thereon
TO HAVE AND TO HOLD / tho/'same Oivto Ihk said assignee, l^ts Successors and
assigns forever,as of the IST /day of MarHi, 2.008,bul wilhouq rec,ourseon the
undersigned.
Ill Witness Wliereof, jd Assignor has hereunto set his hand and se^l/or caused Ihese
presents to be signed properX coiporate
officers)
and ils corporate seal to be hereto
affixed, as of t h e / y '
day of
Signed in the presence of:
^^Cf^'t
COUNTY OF _ ^ & .
PERSON APPEARED BEFORE ME, j[hj! undersigned authority In and
for the aforesai county and state,on this the /^- day of 2008,
wl thin my Vdictivn, (he within named 2C^laCt:ii ^<^J8V/
0 acknow thot (s)he is VICE PRESIDENT and that for-and nn behalf
MORT 3TRONIC REGISTRATION SYSTEMS, INC. and as its act
d deed ad the above and foregoing instrument, after firsl having been
lly aut MORTGAGE ELECTRONIC REGISTRATION SYSTEMS,
INC. to do .so,
officialseai in the County and State last aforesaid Ihis"-ZL.
... _ -MOT-tavniiRiif-
JAMES C. MORRIS
NOTARY PUBLIC-MINNESOTA
MYCOMMISSION
EXPIRES JAN. 31,2008
•
FIXED/ADJUSTABLE RATE NOTE
ORIGINAL INTEREST ONLY PERIOD
(1-Year LIBOR Index - Rate Caps)
(Assumable after Initial Period)
( 10 Year Interest Only Period)
Loan tt 125054133 MIN: 100055401250541333
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 TIME AND THE MAXIMUM RATE I MUST PAY.
Decenifc)er 29, 2006 Lake Mary Florida
[Date] [City] [State]
6737 Pomeroy Circle, Orlando, FL 32810
[Property Address]
1. BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U.S.S 188, 000.00 (this amount is called "Principal"),
plus interest, to the order of the Lender. The Lender is Ind^^Vlac Bank, F.S.B., a federally
chartered savings bank
I will make all payments under this Note in the form of cash, check or money order.
I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is
entitled to receive payments under this Note is called the "Note Holder."
2. INTEREST
Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at a yearly
rate of 7.125 %. The interest rate I will pay will change in accordance with Section 4 of this Note.
The interest rate required by this Section 2 and Section 4 of thisNote is the rate I will pay both before and after any
default described in Section 7(B) of this Note.
3. PAYMENTS
(A) Time and Place of Payments
I will make a payment every month on the first day of the month beginning on February 1, 2007
I will make these payments every month until I have paid all of the principal and interest and any other charges described below
that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and if the payment consists
of both principal and interest, it will be applied to interest before Principal. If,
on January 1, 2037 ,1 still owe
amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date."
I will make my monthly payments at IndyMac Bank, F.S.B., P.O. Box 78826, Phoenix, AZ
85062-8826
or at a differentplace if required by the Note Holder.
(B) Amount of My Initial Monthly Payments
Before the first fullyamortizing principal and interest payment due date stated in subsection (C) below (the "First P&I
Payment Due Date"), my monthly payments will be only for the interest due on the unpaid principal of this Note.
Each of my initial monthly payments will be in the amount of U.S. $ 1,116.25 . This amount may change
in accordance with subsection (C) below.
IndyMac Bank
Fixed/Adjustable Rate Note - 1 Yr. Libor Index - Interest Only Period - Florida Inltlais:
Page 1 of 5 Form 5600(FL)
8 4 8 0 8 5 4 (05071 VMP IWortgago Solutions, inc.
(8001521-7291 6/05
• *
(C) Monthly Payment Changes
The First P&I Payment Due Date is February 1, 2017
Prior to the First P&I Payment Due Date, my monthly payment may change to reflect changes in the interest rate I must
pay in accordance with Section 4 of this Note or to reflect changes in the unpaid principal of my loan in accordance with Section
5 of this Note. Notwithstanding the provisions of Section 4(C) of this Note to the contrary, prior to the First P&I Payment Due
Date the Note Holder will not include in the monthly payment any amount to repay the unpaid principal. Before the effective
date of any change in my monthly payment, the Note Holder will deliver or mail to me a notice of the change in accordance
with Section 8 of this Note. The notice will include the title and telephone number of a person who will answer any question I
may have regarding the notice.
Beginning with the First P&I Payment Due Date, my monthly payment will change to an amount sufficient to repay the
principal and interest at the rate described in Section 4 of this Note in substantially equal installments by the Maturity Date. The
Note Holder will determine my new interest rate and the changed amount of my monthly payment in accordance with Sections 4
and 5 of this Note.
4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
(A) Change Dates
The interest rate I will pay may change on the first day of January, 2012 , and may change
on that day every 12th month thereafter. Each date on which my interest rate could change is called an "Interest Change Date."
(B) The Index
Beginning with the first InterestChange Date, my interest rate will be based on an Index. The "Index" is the one-year
London Interbank Offered Rate ("LIBOR") which is the average of interbank offered rates for one-year U.S. dollar-denominated
deposits in the London market, as published in The Wall Street Joumal. The most recent Index figure available as of the date 45
days before each Interest Change Date is called the "Current Index."
If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information.
The Note Holder will give me notice of this choice.
(C) Calculation of Changes
Before each Interest Change Date, the Note Holder will calculate my new interest rate by adding two and
750/lOOOtJns percentage point(s) ( 2.750 %) to the Current Index. The 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 Interest Change Date.
The Note Holder willthen determine the amount of the monthly payment that would be sufficient to repay the unpaid
principal that I am expected to owe at the Interest Change Date in full on the Maturity Date at my new interestrate in
substantially equal payments. The result of this calculation will be the new amount of my monthly payment.
(D) Limits on Interest Rate Changes
The interest rate I am required to pay at the first Interest Change Date will not be greater than 12.125 % or
less than 2.750 %. Thereafter, my interest rate will never be increased or decreased on any single Interest
Change Date by more than two and NO/lOOOths percentage point(s) ( 2.000 %) from the rate
of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 12.125 %.
(E) Effective Date of Changes
My new interest rate will become effective on each InterestChange Date. I will pay the amount of my new monthly
payment beginning on the first monthly payment date after the Interest Change Date until the amount of my monthly payment
changes again.
(F) Notice of Changes
The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly
payment before the effective date of any change. The notice will include information required by law to be given to me and also
the title and telephone number of a person who will answer any question I may have regarding the notice.
5. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a
"Prepayment." When I make a Prepayment, I will tellthe Note Holder in writing that I am doing so. I may not designate a
payment as a Prepayment if I have not made all the monthly payments due under the Note.
I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my
Prepayments to reduce the amount of Principal that I owe under this Note. However, die Note Holder may apply my
Prepayment to the accrued and unpaid interest on the Prepayment amount before applying my Prepayment to reduce the
Principal amount of the Note. If I make a partial Prepayment, there will be no changes in the due dates of my monthly payment
unless the Note Holder agrees in writing to the changes.
LoanNo: 125054133 Form 5600(FL)
8 4 8 0 8 5 4 (05071 Page 2 of 5 6/05
• «
If I make a partial Prepayment during the period ending with the due date of my last interestonly monthly payment, my
partialPrepayment will reduce the amount of my monthly payment. IfI make.a partial Prepayment afterthe lastinterest only
monthly payment, my partial Prepayment may reduce the amount of my monthly payments beginning with the monthly payment
due after the InterestChange Date following the partialPrepayment. After the first Interest
Change Date, 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 other
loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge
shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from
me which 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 to me. If a refund reduces Principal, the reduction will be treated
as a partialPrepayment.
7. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) Late Charges for Overdue Payments
If the Note Holder has not received the fullamount of any monthly payment by the end of 15 calendar days
afterthe date it is due, I will pay a late charge to the Note Holder.
The amount of the charge will be 5.000 % of
my overdue payment of interest during the period when my payment is interestonly, and ofprincipal and interestafter that.I
will pay this late charge promptly but only once on each late payment.
(B) Default
If I do not pay the fullamount of each monthly payment on the date it is due, I will be in default.
(C) Notice of Default
If I am in default, the Note Holder may send me a written notice tellingme that if I do not pay the overdue amount by a
certain date, the Note Holder may require me to pay immediately the fullamount of Principal which has not been paid and all
the interest that I owe on that amount. That date must be at least 30 days afterthe 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 still have the right to do so if I am in defaultat a later time.
(E) Payment of Note Holder's Costs and Expenses
If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be
paid back by me for all of its costsand expenses in enforcing thisNote to the extent not prohibited by applicable law. Those
expenses include, for example, reasonable attorneys' fees.
8. GIVING OF NOTICES
Unless applicable law requires a differentmethod, any notice that must be given to me under thisNote will be given by
delivering it or by mailing it by firstclass mail to me at the Property Address above or at a different address if I give the Note
Holder a notice of my different address.
Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first
class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that
differentaddress.
9. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fullyand personally obligated to keep all of the promises made in
this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is
also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety
or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights
imder this Note against each person individually or against all of us together.This means that any one of us may be required to
pay all of the amounts owed under this Note.
10. WAIVERS
I and 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 to require the Note Holder to give notice to other persons that amounts due have not been paid.
LoanNo: 125054133 Form 5600(FL)
8480854 (06071 Page 3 of 5 6/05
• «
11. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the
Note Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"), dated the same date as
this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this
Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full
of all amounts I owe under this Note. Some of those conditions are described as follows:
(A) UNTIL MY INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED IN SECTION 4 ABOVE,
UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT IS DESCRIBED AS FOLLOWS:
Transfer of the Property or a Beneflcial Interest in Borrower. As used in this Section 18, "Interest in the
Property" means any legal or beneficial interestin the Property, including, but not limited to, those beneficial
interests transferredin a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent
of which is the transfer of title by Borrower at a future date to a purchaser.
If all or any part of die Property or any Interest in the Property is sold or transferred(or if Borrower is not a
natural person and a beneficial interestin 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.
If Lender exercises thisoption. 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.
(B) AFTER MY INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED IN SECTION 4 ABOVE,
UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION 11(A) ABOVE SHALL
THEN CEASE TO BE IN EFFECT, AND UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT SHALL
INSTEAD BE DESCRIBED AS FOLLOWS:
Transfer of the Property or a Beneflcial Interest in Borrower. As used in this Section 18, "Interest in the
Property" means any legal or beneficial interestin the Property, including, but not limited to, those beneficial
interests transferredin a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent
of which is the transfer of title by Borrower at a future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a
natural person and a beneficial interestin Borrower issold 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 also shall not exercise this
option if:(a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended
transfereeas if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's
securitywill 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 may also require the transferee to sign an assumption agreement that is
acceptable to Lender and that obligates the transferee to 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 unless
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.
12. DOCUMENTARYTAX
The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness.
LoanNo: 125054133 Form 5600(FL)
8480854(0507) Page 4 of 5 6/05
• #
WITNESS THE HAN SEAL(S) OF THE UNDERSIGNED.
i . f r y f r
, (Seal) _ (Seal)
S h iriev/^:
irlev/^ailey -Borrower -Borrower
_ (Seal) _ (Seal)
-Borrower -Borrower
_ (Seal) _ (Seal)
-Borrower -Borrower
_ (Seal) (Seal)
-Borrower -Borrower
[Sign Original Only]
PAY TO THE ORDER OF
WITHOUT RECOURSE
INDYMAC BANK, F.S.B.
VINCENT DOMBROWSH
VICE PRESIDENT
Loan No: 125054133
Form 5600(FL)
8480854 (05071 Page 5 of 5 6/05
ORIGINAL
%ADDENDUM TO ADJUSTABLE
4
RATE IMOTE Loan #: 125054133
(Prepayment)
THIS ADDENDUM is made this 29th day of Decoriber, 2006 , and is incorporated into and
intended to form a part of an Adjustable Rate Note dated the same date as this Addendum.
1. Section 5 of the Adjustable Rate Note is modified to provide that I have the right to make
payments of principal at any time before they ara due. A Prepayment of all of the unpaid principal is known as a
"Full Prepayment." A Prepayment of only part of the unpaid principal is known as a "Partial Prepayment."
Except as provided below, Imay make a Full Prepayment or a Partial Prepayment at any time without
paying any Prepayment charge. If within the first three ( 3 ) year(s) I make a Partial
Prepayment or Partial Prepayment(s) of less than twenty percent (20%) of the original principal amount in any
twelve (12) month period, I will not pay a Prepayment penalty. However, ifwithin the first three
( 3 ) year(s), I make a Full Prepayment, Partial Prepayment or Partial Prepayments of more than
twenty percent (20%) of the original principal amount in any 12-month period, I will pay a Prepayment charge in
an amount equal to the payment of six (6) months' advance interest on the amount prepaid in excess of twenty
percent (20%) of the original principal amount.
If I make a Partial Prepayment equal to one or more of my monthly payments, the due date of my next
scheduled monthly payment may be advanced no more than one month. IfI make a Partial Prepayment in any
other amount, I must stillmake all subsequent monthly payments as scheduled.
2. All other provisions of the Adjustable Rate Note are unchanged by this Addendum and remain in
fullforce and effect.
Dated: /J2- ^'^- OC:,
^lirley i^alley J Orrower -Borrower
^(Seal) ^(Seal)
-Borrower -Borrower
^(Seal) ^ (Seal)
-Borrower -Borrower
^(Seal) ^(Seal)
-Borrower -Borrower
IndyMac Bank and Federally Exempted Seller Use Only
Hard Prepayment Addendum (1-3 yrs) - ARM
First Mortgages - Multistate, Arkansas (loans over
$150,000)
SPD #084
8480279(04071 VIWP Mortgage Solutions, inc. (8OOI521-7291 (08/04)
llll
»NSTR 2007e0196&l ?»4
OR BK 09056 PG 0836 P6S»S3
Prepared by or under the supervision of: MfiRTHA 0. HAYNIE, COIIPTROLLER
Danielle Bakota. ORANGE CQUNTY, FL
01/09/2007 08844:56 PH
[Name of Natural Person]
flTG DOC TAX 658.00
401 Rte 73 North - 40 Lake Ctr Exec Park #400 INTANG TAX 376.00
[Street Address] REC FEE 197.00
Nferlton, NJ 08053
[City, State
Zip Code]
tor rocoi'ding pitaic rcturn^to:
V
IndyMac
Management
rca
Barifc,
[Company Name]
F.S.B. c/o Document
\U010C
[Name of Natural Person]
901 E. 104th Street Builcaing B Suite 400/500
[Street Address]
Kansas City,- MD 6 4 1 3 1
[City, State
Zip Code]
'S4o6^Sii^n [Space Above This Une For Recording Data]
PREPARED
^ AND giSTil
^ta J^^JOt
ALL FLORiDATITCE
1616 INTERNATIONAL PARKWAf
MORTGAGE
8UITE1026 MIN: 100055401250541333
Words used in muitiple sections ofthisdocument are defined below and other words are defined in Sections 3, 11,
13, 18, 20 and 21. Certain rules regarding the usage ofwords used in this document are also provided in Section 16.
(A) "Security Instrument" means this document, which is dated Decsiiber 29, 2006 , together
with all Riders to this document.
(B) "Borrower" is Shirley Bailey and Naven Bailey and Denise Revels
Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting
solely as a nominee for Lender and Lender's successors and assigns. MERS is the inortgagee under this Security
Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone
number of RO. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
Loan No: 125054133
Florida Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT MERS Modified Form 3010 01/01
—THE COIMPLIANCE SOURCE, INC.— Page 1 of 14 I4301FL 11/04
www.conipliancesource.com O 2004, The Compliance Source, Inc.
(D) "Lender" is ind^Wac Bank, F.S.B., a federally chartered savings barik
Lenderisa Federal Savings Bank organized and existing under the laws of
limited States of America . Lender's address is 155 North Lake
Avenue, Pasadena, CA 91101
(E) "Note" means the promissory note signed by Borrower and dated Decariber 29, 2006 .The
Note states that Borrower owes Lender one hundred eighty eight t±iDUsand and
NO/lOOths Dollars (U.S. $ 188,000.00 )
plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not
laterthan January 1, 2037
(F) "Property" means the property that is described below under the heading "Transfer of Rights in the
Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due
under the Note, and all sums due under this Security Instrument, plus interest.
(H) "Riders" means all Riders to this Security Instrument thatare executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicable]:
XXI Adjustable Rate Rider I I Condominium Rider I I Second Home Rider
I I Balloon Rider Planned Unit Development Rider | | Biweekly Payment Rider
I I 1-4 Family Rider I I Revocable Trust Rider
I I Other(s) [specify]
(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances
and administrative rules and orders (that have the efTect of law) as well as allapplicable final, non-appealable
judicial opinions.
(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other
charges that are imposed on Borrower or the Property by a condominium association, homeowners association or
similar organization.
(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check,
draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer,
or magnetic tape so as to order, instruct, or authorize afinancialinstitution to debit or credit an account.
Such term
includes, but is not limited to, point-of-saletransfers,automated teller machine transactions; transfers initiated by
telephone, wire transfers, and automated clearinghouse transfers.
(L) "Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by
any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to,
or destruction of, the Property; (ii) condemnation or other taking ofallor any part ofthe Property; (iii) conveyance
in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition ofthe Property.
(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the
Loan.
Loan No: 125054133
Florida Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT MERS Modilied Form 3010 01/01
— T H E COMPLIANCE SOURCE, INC.— Page 2 of
14 I430IFL 11/04
www.compliancesourcc.com O 2004, The Compliance Source, Inc.
(O) "Periodic Payment" means the regularly scheduled amount due for (i) principaland interestunder the
Note, plus (ii) any amounts under Section 3 ofthis Security Instrument.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its
implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended Irom fime to fime, or any
additional or successor legislationor regulation that govems the same subject matter. As used in this Security
Instrument, "RESPA" refers to all requirements and restrictions thatare imposed in regard to a "federally related
mortgage loan" even ifthe Loan does not qualiiy as a "federally related mortgage loan" under RESPA.
(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not
that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
County of Orange
[Type of Recording Jurisdiction], [Name of Recording Jurisdiction]
which has a legal descripfion of:
See Exhibit A attiached hereto and trade a part hereof
which currently has the address of 6737 Pomeroy Circle
[Street]
Orlando , Florida 32810
[City] [Zip Code]
("Property Address"):
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
covered by this Security Instrument. All ofthe foregoing is referred to in this Security Instrument as the "Property."
Borrower understands and agrees that MERS holds only legal titleto the interestsgranted by Borrower in this
Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's
successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right
to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing
and canceling this Security Instrument.
BORROWER COVENANTS that Borrower is lawfiillyseised ofthe estate hereby conveyed and has the
right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of
record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject
to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform
covenants with limited variations by jurisdiction to constitute a uniform
security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
L Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment
charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3.
Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, ifany check or
other instrument received by Lender as payment under the Note or this Security Instrument is retumed to Lender
unpaid. Lender may require that any or all subsequent payments due under the Note and this Security Instrument be
made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certifiedcheck,
bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose
deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Loan No: 125054133
Florida Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT MERS Modilied Form 3010 01/01
—THE COMPLIANCE SOURCE, INC.— Page3ofI4 UJOIFL ii/04
www.compliancesource.co
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IN THE CIRCUIT COURT OF THE 9TH JUDICIAL CIRCUIT, IN AND FOR ORANGE COUNTY, FLORIDA GENERAL JURISDICTION DIVISION CASE NO: 48-2008-CA-Ol 1802 DIV. 37 INDYMAC BANK, FSB PLAINTIFF VS. SHIRLEY BAILEY, ET AL JDEraNDANT^ ORIGINAL DOCUMENTS The attached originals are to be placed in the Court file: Original Note Original Mortgage Ongmal Assignments Original Rider Other Dated:October 15, 2008 DOC tt20080333326 B: 9708 P: 4924 ee/es/zaesie:e4:42 AH Page tor i R«c Fae: $10.00 Doc Type; fl Dead Doe Tax: $0.00 IntangibleTax: $0.00 nortgage Stamp:$0.00 tlartha 0, Haynla, Coniptrcllsr Orange County, FL ns - Ret To: OAVIDJ STERN I'ri'jwrt'tt by;O A V I D ) . STERN. ESie assignee, Ihc mortgage execuied by SHIRLEY BAILEY AND NAWAN BA1\E Y \ A N D DENISE REVELS recorded in ORANGE County, Florida at/^'-book9056 an page 838 encumbering the propertymore particularly described as follows: / I.OT 120, WESTLAKE UNIT 2, ACCORDINGTO THE PLAT-THEREOF"ftBCl EDIN PLAT BOOK41, PAGES 95 AND 96, OF THE PUBLIC RECORDS OF ORANGE COUNTYTFLQRIDA logether with the nole and each Jnd-^very other oml^t.k'n scribed in said martgage and the money due and lo becoin^ue thereon TO HAVE AND TO HOLD / tho/'same Oivto Ihk said assignee, l^ts Successors and assigns forever,as of the IST /day of MarHi, 2.008,bul wilhouq rec,ourseon the undersigned. Ill Witness Wliereof, jd Assignor has hereunto set his hand and se^l/or caused Ihese presents to be signed properX coiporate officers) and ils corporate seal to be hereto affixed, as of t h e / y ' day of Signed in the presence of: ^^Cf^'t COUNTY OF _ ^ & . PERSON APPEARED BEFORE ME, j[hj! undersigned authority In and for the aforesai county and state,on this the /^- day of 2008, wl thin my Vdictivn, (he within named 2C^laCt:ii ^<^J8V/ 0 acknow thot (s)he is VICE PRESIDENT and that for-and nn behalf MORT 3TRONIC REGISTRATION SYSTEMS, INC. and as its act d deed ad the above and foregoing instrument, after firsl having been lly aut MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. to do .so, officialseai in the County and State last aforesaid Ihis"-ZL. ... _ -MOT-tavniiRiif- JAMES C. MORRIS NOTARY PUBLIC-MINNESOTA MYCOMMISSION EXPIRES JAN. 31,2008 • FIXED/ADJUSTABLE RATE NOTE ORIGINAL INTEREST ONLY PERIOD (1-Year LIBOR Index - Rate Caps) (Assumable after Initial Period) ( 10 Year Interest Only Period) Loan tt 125054133 MIN: 100055401250541333 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 TIME AND THE MAXIMUM RATE I MUST PAY. Decenifc)er 29, 2006 Lake Mary Florida [Date] [City] [State] 6737 Pomeroy Circle, Orlando, FL 32810 [Property Address] 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S.S 188, 000.00 (this amount is called "Principal"), plus interest, to the order of the Lender. The Lender is Ind^^Vlac Bank, F.S.B., a federally chartered savings bank I will make all payments under this Note in the form of cash, check or money order. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at a yearly rate of 7.125 %. The interest rate I will pay will change in accordance with Section 4 of this Note. The interest rate required by this Section 2 and Section 4 of thisNote is the rate I will pay both before and after any default described in Section 7(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will make a payment every month on the first day of the month beginning on February 1, 2007 I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and if the payment consists of both principal and interest, it will be applied to interest before Principal. If, on January 1, 2037 ,1 still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date." I will make my monthly payments at IndyMac Bank, F.S.B., P.O. Box 78826, Phoenix, AZ 85062-8826 or at a differentplace if required by the Note Holder. (B) Amount of My Initial Monthly Payments Before the first fullyamortizing principal and interest payment due date stated in subsection (C) below (the "First P&I Payment Due Date"), my monthly payments will be only for the interest due on the unpaid principal of this Note. Each of my initial monthly payments will be in the amount of U.S. $ 1,116.25 . This amount may change in accordance with subsection (C) below. IndyMac Bank Fixed/Adjustable Rate Note - 1 Yr. Libor Index - Interest Only Period - Florida Inltlais: Page 1 of 5 Form 5600(FL) 8 4 8 0 8 5 4 (05071 VMP IWortgago Solutions, inc. (8001521-7291 6/05 • * (C) Monthly Payment Changes The First P&I Payment Due Date is February 1, 2017 Prior to the First P&I Payment Due Date, my monthly payment may change to reflect changes in the interest rate I must pay in accordance with Section 4 of this Note or to reflect changes in the unpaid principal of my loan in accordance with Section 5 of this Note. Notwithstanding the provisions of Section 4(C) of this Note to the contrary, prior to the First P&I Payment Due Date the Note Holder will not include in the monthly payment any amount to repay the unpaid principal. Before the effective date of any change in my monthly payment, the Note Holder will deliver or mail to me a notice of the change in accordance with Section 8 of this Note. The notice will include the title and telephone number of a person who will answer any question I may have regarding the notice. Beginning with the First P&I Payment Due Date, my monthly payment will change to an amount sufficient to repay the principal and interest at the rate described in Section 4 of this Note in substantially equal installments by the Maturity Date. The Note Holder will determine my new interest rate and the changed amount of my monthly payment in accordance with Sections 4 and 5 of this Note. 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of January, 2012 , and may change on that day every 12th month thereafter. Each date on which my interest rate could change is called an "Interest Change Date." (B) The Index Beginning with the first InterestChange Date, my interest rate will be based on an Index. The "Index" is the one-year London Interbank Offered Rate ("LIBOR") which is the average of interbank offered rates for one-year U.S. dollar-denominated deposits in the London market, as published in The Wall Street Joumal. The most recent Index figure available as of the date 45 days before each Interest Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Interest Change Date, the Note Holder will calculate my new interest rate by adding two and 750/lOOOtJns percentage point(s) ( 2.750 %) to the Current Index. The 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 Interest Change Date. The Note Holder willthen determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Interest Change Date in full on the Maturity Date at my new interestrate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Interest Change Date will not be greater than 12.125 % or less than 2.750 %. Thereafter, my interest rate will never be increased or decreased on any single Interest Change Date by more than two and NO/lOOOths percentage point(s) ( 2.000 %) from the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 12.125 %. (E) Effective Date of Changes My new interest rate will become effective on each InterestChange Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Interest Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. 5. BORROWER'S RIGHT TO PREPAY I have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a "Prepayment." When I make a Prepayment, I will tellthe Note Holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my Prepayments to reduce the amount of Principal that I owe under this Note. However, die Note Holder may apply my Prepayment to the accrued and unpaid interest on the Prepayment amount before applying my Prepayment to reduce the Principal amount of the Note. If I make a partial Prepayment, there will be no changes in the due dates of my monthly payment unless the Note Holder agrees in writing to the changes. LoanNo: 125054133 Form 5600(FL) 8 4 8 0 8 5 4 (05071 Page 2 of 5 6/05 • « If I make a partial Prepayment during the period ending with the due date of my last interestonly monthly payment, my partialPrepayment will reduce the amount of my monthly payment. IfI make.a partial Prepayment afterthe lastinterest only monthly payment, my partial Prepayment may reduce the amount of my monthly payments beginning with the monthly payment due after the InterestChange Date following the partialPrepayment. After the first Interest Change Date, 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 other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me which 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 to me. If a refund reduces Principal, the reduction will be treated as a partialPrepayment. 7. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charges for Overdue Payments If the Note Holder has not received the fullamount of any monthly payment by the end of 15 calendar days afterthe date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be 5.000 % of my overdue payment of interest during the period when my payment is interestonly, and ofprincipal and interestafter that.I will pay this late charge promptly but only once on each late payment. (B) Default If I do not pay the fullamount of each monthly payment on the date it is due, I will be in default. (C) Notice of Default If I am in default, the Note Holder may send me a written notice tellingme that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the fullamount of Principal which has not been paid and all the interest that I owe on that amount. That date must be at least 30 days afterthe 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 still have the right to do so if I am in defaultat a later time. (E) Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid back by me for all of its costsand expenses in enforcing thisNote to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorneys' fees. 8. GIVING OF NOTICES Unless applicable law requires a differentmethod, any notice that must be given to me under thisNote will be given by delivering it or by mailing it by firstclass mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that differentaddress. 9. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fullyand personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights imder this Note against each person individually or against all of us together.This means that any one of us may be required to pay all of the amounts owed under this Note. 10. WAIVERS I and 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 to require the Note Holder to give notice to other persons that amounts due have not been paid. LoanNo: 125054133 Form 5600(FL) 8480854 (06071 Page 3 of 5 6/05 • « 11. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: (A) UNTIL MY INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED IN SECTION 4 ABOVE, UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT IS DESCRIBED AS FOLLOWS: Transfer of the Property or a Beneflcial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interestin the Property, including, but not limited to, those beneficial interests transferredin a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of die Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interestin 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. If Lender exercises thisoption. 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. (B) AFTER MY INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED IN SECTION 4 ABOVE, UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION 11(A) ABOVE SHALL THEN CEASE TO BE IN EFFECT, AND UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT SHALL INSTEAD BE DESCRIBED AS FOLLOWS: Transfer of the Property or a Beneflcial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interestin the Property, including, but not limited to, those beneficial interests transferredin a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interestin Borrower issold 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 also shall not exercise this option if:(a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transfereeas if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's securitywill 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 may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to 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 unless 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. 12. DOCUMENTARYTAX The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness. LoanNo: 125054133 Form 5600(FL) 8480854(0507) Page 4 of 5 6/05 • # WITNESS THE HAN SEAL(S) OF THE UNDERSIGNED. i . f r y f r , (Seal) _ (Seal) S h iriev/^: irlev/^ailey -Borrower -Borrower _ (Seal) _ (Seal) -Borrower -Borrower _ (Seal) _ (Seal) -Borrower -Borrower _ (Seal) (Seal) -Borrower -Borrower [Sign Original Only] PAY TO THE ORDER OF WITHOUT RECOURSE INDYMAC BANK, F.S.B. VINCENT DOMBROWSH VICE PRESIDENT Loan No: 125054133 Form 5600(FL) 8480854 (05071 Page 5 of 5 6/05 ORIGINAL %ADDENDUM TO ADJUSTABLE 4 RATE IMOTE Loan #: 125054133 (Prepayment) THIS ADDENDUM is made this 29th day of Decoriber, 2006 , and is incorporated into and intended to form a part of an Adjustable Rate Note dated the same date as this Addendum. 1. Section 5 of the Adjustable Rate Note is modified to provide that I have the right to make payments of principal at any time before they ara due. A Prepayment of all of the unpaid principal is known as a "Full Prepayment." A Prepayment of only part of the unpaid principal is known as a "Partial Prepayment." Except as provided below, Imay make a Full Prepayment or a Partial Prepayment at any time without paying any Prepayment charge. If within the first three ( 3 ) year(s) I make a Partial Prepayment or Partial Prepayment(s) of less than twenty percent (20%) of the original principal amount in any twelve (12) month period, I will not pay a Prepayment penalty. However, ifwithin the first three ( 3 ) year(s), I make a Full Prepayment, Partial Prepayment or Partial Prepayments of more than twenty percent (20%) of the original principal amount in any 12-month period, I will pay a Prepayment charge in an amount equal to the payment of six (6) months' advance interest on the amount prepaid in excess of twenty percent (20%) of the original principal amount. If I make a Partial Prepayment equal to one or more of my monthly payments, the due date of my next scheduled monthly payment may be advanced no more than one month. IfI make a Partial Prepayment in any other amount, I must stillmake all subsequent monthly payments as scheduled. 2. All other provisions of the Adjustable Rate Note are unchanged by this Addendum and remain in fullforce and effect. Dated: /J2- ^'^- OC:, ^lirley i^alley J Orrower -Borrower ^(Seal) ^(Seal) -Borrower -Borrower ^(Seal) ^ (Seal) -Borrower -Borrower ^(Seal) ^(Seal) -Borrower -Borrower IndyMac Bank and Federally Exempted Seller Use Only Hard Prepayment Addendum (1-3 yrs) - ARM First Mortgages - Multistate, Arkansas (loans over $150,000) SPD #084 8480279(04071 VIWP Mortgage Solutions, inc. (8OOI521-7291 (08/04) llll »NSTR 2007e0196&l ?»4 OR BK 09056 PG 0836 P6S»S3 Prepared by or under the supervision of: MfiRTHA 0. HAYNIE, COIIPTROLLER Danielle Bakota. ORANGE CQUNTY, FL 01/09/2007 08844:56 PH [Name of Natural Person] flTG DOC TAX 658.00 401 Rte 73 North - 40 Lake Ctr Exec Park #400 INTANG TAX 376.00 [Street Address] REC FEE 197.00 Nferlton, NJ 08053 [City, State Zip Code] tor rocoi'ding pitaic rcturn^to: V IndyMac Management rca Barifc, [Company Name] F.S.B. c/o Document \U010C [Name of Natural Person] 901 E. 104th Street Builcaing B Suite 400/500 [Street Address] Kansas City,- MD 6 4 1 3 1 [City, State Zip Code] 'S4o6^Sii^n [Space Above This Une For Recording Data] PREPARED ^ AND giSTil ^ta J^^JOt ALL FLORiDATITCE 1616 INTERNATIONAL PARKWAf MORTGAGE 8UITE1026 MIN: 100055401250541333 Words used in muitiple sections ofthisdocument are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage ofwords used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated Decsiiber 29, 2006 , together with all Riders to this document. (B) "Borrower" is Shirley Bailey and Naven Bailey and Denise Revels Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the inortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of RO. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. Loan No: 125054133 Florida Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT MERS Modified Form 3010 01/01 —THE COIMPLIANCE SOURCE, INC.— Page 1 of 14 I4301FL 11/04 www.conipliancesource.com O 2004, The Compliance Source, Inc. (D) "Lender" is ind^Wac Bank, F.S.B., a federally chartered savings barik Lenderisa Federal Savings Bank organized and existing under the laws of limited States of America . Lender's address is 155 North Lake Avenue, Pasadena, CA 91101 (E) "Note" means the promissory note signed by Borrower and dated Decariber 29, 2006 .The Note states that Borrower owes Lender one hundred eighty eight t±iDUsand and NO/lOOths Dollars (U.S. $ 188,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not laterthan January 1, 2037 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument thatare executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: XXI Adjustable Rate Rider I I Condominium Rider I I Second Home Rider I I Balloon Rider Planned Unit Development Rider | | Biweekly Payment Rider I I 1-4 Family Rider I I Revocable Trust Rider I I Other(s) [specify] (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the efTect of law) as well as allapplicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize afinancialinstitution to debit or credit an account. Such term includes, but is not limited to, point-of-saletransfers,automated teller machine transactions; transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking ofallor any part ofthe Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition ofthe Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. Loan No: 125054133 Florida Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT MERS Modilied Form 3010 01/01 — T H E COMPLIANCE SOURCE, INC.— Page 2 of 14 I430IFL 11/04 www.compliancesourcc.com O 2004, The Compliance Source, Inc. (O) "Periodic Payment" means the regularly scheduled amount due for (i) principaland interestunder the Note, plus (ii) any amounts under Section 3 ofthis Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended Irom fime to fime, or any additional or successor legislationor regulation that govems the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions thatare imposed in regard to a "federally related mortgage loan" even ifthe Loan does not qualiiy as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. County of Orange [Type of Recording Jurisdiction], [Name of Recording Jurisdiction] which has a legal descripfion of: See Exhibit A attiached hereto and trade a part hereof which currently has the address of 6737 Pomeroy Circle [Street] Orlando , Florida 32810 [City] [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All ofthe foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal titleto the interestsgranted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfiillyseised ofthe estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: L Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, ifany check or other instrument received by Lender as payment under the Note or this Security Instrument is retumed to Lender unpaid. Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certifiedcheck, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Loan No: 125054133 Florida Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT MERS Modilied Form 3010 01/01 —THE COMPLIANCE SOURCE, INC.— Page3ofI4 UJOIFL ii/04 www.compliancesource.co