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Filing # 137543628 E-Filed 10/29/2021 12:27:56 PM
IN THE CIRCUIT COURT OF THE
NINETEENTH JUDICIAL CIRCUIT IN AND
FOR INDIAN RIVER COUNTY, FLORIDA
GENERAL JURISDICTION DIVISION
CASE NO.
312021CA000743XXXXXX
U.S. BANK NATIONAL ASSOCIATION,
a . Plaintiff, toe we ;
vs.
SANDRA BENDER SALDIBAR, AS
PERSONAL REPRESENATIVE FOR THE
ESTATE OF LLOYD GUNNELLS A/K/A
LLOYD T. GUNNELLS, DECEASED;
SANDRA BENDER SALDIBAR; SIERRA
D. GUNNELLS; SEACOAST NATIONAL
BANK,
Defendant(s).
/
VERIFIED COMPLAINT FOR FORECLOSURE OF MORTGAGE
Plaintiff, U.S. BANK NATIONAL ASSOCIATION, sues the Defendants and alleges:
COUNT I~ MORTGAGE FORECLOSURE
1, This is an action to foreclose a mortgage on real property in INDIAN RIVER County,
Florida.
2. The Court has jurisdiction over the subject matter.
3. On February 25, 2014, LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED
executed and delivered a promissory note and a mortgage securing payment of the note to
HARBOR COMMUNITY BANK, STATE CHARTERED BANK. A copy of the note is
attached hereto as Exhibit "A". The Mortgage was recorded on February 27, 2014 in Official
Records Book 2740, at Page 946, of the Public Records of Indian River County, Florida, and
PAGE 1
21-105371 - EIPmortgaged the property described in the mortgage then owned by the Mortgagor(s). A copy of
the mortgage is attached hereto as Exhibit "B".
4. The Plaintiff's Mortgage is a lien superior in dignity to any prior or subsequent right, title,
claim, lien, or interest of any defendant in this action, including but not limited to, any interest
arising out of Mortgagor(s) or Mortgagor(s)' predecessor(s) and/or successors in interest.
5. Plaintiff is the holder of the original note secured by the mortgage.
6. Defendant(s) have defaulted under the Note aad Mortgage by failing to pay the payment due
October 1, 2019, and all subsequent payments.
7. Plaintiff declares the full amount payable under the Note and Mortgage to be due, except to
the extent any part of that amount is or would be subject to a statute of limitations defense.
8. Pursuant to the terms of the note and mortgage, and except for those Defendants who have
been discharged in bankruptcy, Defendant(s) owe Plaintiff $99,210.54 that is due and owing on
principal on the Note and Mortgage, plus interest from and after September 1, 2019, and title
search expenses for ascertaining necessary parties to this action.
9. On or about September 10, 2019, LLOYD GUNNELLS' A/K/A LLOYD T. GUNNELLS
died.
10. In order to protect its security, the Plaintiff may have advanced and paid Ad Valorem Taxes,
premiums on insurance required by the Mortgage and other necessary costs, or may be required
to make such advances during the pendency of this action. Any such sum(s) so paid will also be
due and owing pursuant to the terms of the note and mortgage.
11. The property is now owned by Defendant(s), SANDRA BENDER SALDIBAR, AS
PERSONAL REPRESENATIVE FOR THE ESTATE OF LLOYD GUNNELLS A/K/A
LLOYD T. GUNNELLS, DECEASED, if living and, if dead, the unknown spouses, heirs, and
PAGE 2
21-105371 - EIPbeneficiaries of SANDRA BENDER SALDIBAR, AS PERSONAL REPRESENATIVE FOR
THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED who
now hold(s) possession.
12. All conditions precedent to the acceleration of this note and mortgage and to foreclosure of
the mortgage have occurred, been satisfied or been waived.
13. Plaintiff is obligated to pay its attorneys a reasonable fee for their services. Plaintiff is
entitled to recover its attorneys’ fees pursuant to the express terms of the Note-aad Mortgage.
14. Plaintiff alleges that the claims of the remaining Defendants are secondary, junior, inferior
and subject to the prior claim of Plaintiff.
15. The Defendant, SANDRA BENDER SALDIBAR, may claim some right, title, or interest in
the property herein sought to be foreclosed by virtue of POTENTIAL HEIR/BENEFICIARY IN
THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED or
some other unknown interest, the exact nature of which is unknown to Plaintiff and not a matter
of public record. However, said interest, if any, is subordinate, junior, and inferior to the lien of
Plaintiff's mortgage.
16. The Defendant, SIERRA D. GUNNELLS, may claim some right, title, or interest in the
property herein sought to be foreclosed by virtue of POTENTIAL HEIR/BENEFICIARY IN
THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED or
some other unknown interest, the exact nature of which is unknown to Plaintiff and not a matter
of public record. However, said interest, if any, is subordinate, junior, and inferior to the lien of
Plaintiff's mortgage.
17. Any interest in the property inuring to the Defendant, SEACOAST NATIONAL BANK, is
subordinate and inferior to the lien of Plaintiffs mortgage, including, but not limited to,
PAGE 3
21-105371 - EIPMORTGAGE recorded February 1, 2017, in Official Record Book 2998 at Page 1094 of the
Public Records of Indian River County, Florida.
WHEREFORE, Plaintiff demands judgment foreclosing the mortgage, for costs (and, when
applicable, attorneys' fees), and, if the proceeds of the sale are insufficient to pay Plaintiff's
judgment, Plaintiff asks the court to reserve jurisdiction to determine ‘whether a deficiency is
appropriate, in the event it is sought. Subject to any applicable statute of limitations, Plaintiff
furtle~ zequests that the Court ascertain the amount due to Plaintiff for principal and interest ou
the Mortgage and Note, and for late charges, abstracting, taxes, expenses and costs, including
attorney's fees, plus interest thereon. If the sums due Plaintiff under the Mortgage and Note are
not paid immediately, Plaintiff requests that the Court foreclose the Mortgage and the Clerk of
the Court sell the Property securing the indebtedness to satisfy the Plaintiff's mortgage lien in
accordance with the provisions of Florida Statutes §45.031 (2006); and that the rights, title and
interest of any Defendant, or any party claiming by, through, under or against any Defendant
named herein or hereinafter made a Defendant be forever barred and foreclosed. Plaintiff further
requests, where applicable, that the Court appoint a receiver of the Property and of the rents,
issues, income and profits thereof, or in the alternative, order sequestration of rents, issues,
income and profits pursuant to Florida Statutes §697.07 (2006); and that the Court retain
jurisdiction of this action to make any and all further orders and judgments as may be necessary
and proper, including the issuance of a writ of possession and the entry of a deficiency judgment
decree, when and if such deficiency decree shall appear proper, provided Borrower(s) has/have
not been discharged in bankruptcy. Finally, Plaintiff asks the
[THIS SPACE IS INTENTIONALLY LEFT BLANK]
PAGE 4
21-105371 - EIP- Court to retain jurisdiction to resolve disputes that might arise with respect to assessments due or
allegedly due to any Homeowners or Condominium Association, if applicable.
VERIFICATION OF COMPLAINT
Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged
therein are true and correct to the best of my knowledge and belief.
Executed on this QO dayof OC* Ober, 2021.
By: PAM ON OALOOUS -
Print Name: Erin Matlock _
Title: ee
Company: U.S. BANK NATIONAL
ASSOCIATION
ROBERTSON, ANSCHUTZ, SCHNEID, CRANE & PARTNERS, PLLC
Attorney for Plaintiff
6409 Congress Ave., Suite 100
Boca Raton, FL 33487
Telephone; 561-241-6901
Facsimile: 561-997-6909
Service Email: FLmail@raslg.com
/s/ Can Guner
Can Guner, Esq.,
FL Bar No. 20931
Email: cguner@raslg.com
PAGE 5
21-105371 - EIPState of Kentucky
County of Daviess
The foregoing instrument was subscribed and sworn to before me this 10/0 |<
by Erin Matlock, Officer of U.S. Bank National Association, a federally chartered
banking association, on behalf of U.S. Bank National Association.
(seal)
(signature o of notary public)
State at Large
(title or rank) SHAWNA M. MCGAHEY
Notary Public
Commonwealth of Kentucky
Commission Number KYNP19738
My Commission Expires Jan 3, 2025
Edited 02/04/2015*
c. : ORIGINA, ae
i: NOTE cose mimes = |
THIS LOAN IS NOT ASSUMABLE
WITHOUT THE APPROVAL OF THE
DEPARTMENT OF VETERANS AFFAIRS
OR ITS AUTHORIZED AGENT.
FEBRUARY 25, 2014 Fort Pierce
[Dee] icity] {Sear}
415 Hazel Street, SEBASTIAN, FLORIDA 32953
Property Address}
1. BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U.S. $137,000.00 (this amount is
called "Principal”), plus interest, to the order of the Lender. The Lender is Harbor Commumity
Bank, State Chartered Bank
Twill make all payments under this Note in the forni of cash, check or money order.
understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and
‘who is enitied 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
ata yearly rate of 4.250%.
‘The interest rate required by this Section 2 is the rate 1 will pay both before and after any default described in
Section 6(B) of this Note.
3. PAYMENTS
(A) Time and Place of Payments
T will pay principal and interest by making a payment every month.
Iwill make my monthly payment on the 1st, day of each month beginning on APRIL 1
2014. Twill make these payments every month until I have paid all of the principal and interest and any other
‘Charges described below that ¥ may owe under this Note. Each monthly payment will be applied as of its scheduled
due date and will be applied to interest before Principal. If on MARCH 2, 2044 > T 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 2222 Colonial Road, Suite 101, Fort
Pierce, Florida 34950
or at a different place if required by the Note Holder.
®) Amount of Monthly Payments
My monthly payment will be in the amount of U.S. $ 673 . 96
FLORIDA FIXED RATE NOTE Single Famil Doctiagls Shows
MODIFIED INSTRUMENT FOR DEPARTMENT OF VETERANS AFFAIRS wane. docmagie.coft
FLEN.VA (Rev, 1/01) Page 1 of 4
EXHIBIT "A"4, BORROWER'S RIGHT TO PREPAY
Tihave the right to make payments of Principel at any time before they are due. A payment of Principal only
is known as a “Prepayment.” When I make a Prepayment, I will tell the Note Holder in writing that 1 am doing 0.
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 T owe under this Note. However, the 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
thie doe date or in the‘amount of my monthly payment unless the Note Holder agrees in-writing to those, changes.
5. LOAN CHARGES
If'a law, which applies to this Joan and which sets maximum Joan 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 mary -hoose to make this refund by reducing the Principal I owe under this Note or by making a direct paymneat
to me. If a reflind reduces Principal, the reduction will be treated as a partial Prepayment.
6. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) Late Charge for Overdue Payments
If the Note Holder bas not received the full amount of any monthly payment by the end of 15
calendar days after the date it is du, I will pay a late charge to the Note Holder. The amount of the charge will be
4.000 % of my overdue payment of principal, interest, and escrow for taxes and insurance. I will pay
this Inte charge promptly but only once on esch late paysnent.
(B) Defantt
If I do not pay the full amount of cach monthly payment on the date itis due, I will be in default.
(© Notice of Default
If Lam in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue
amount by a certain date, the Note Holder may require me to pay immediately the fall amount 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 after the date on which
the notice is mailed to me or delivered by other means.
(D) No Waiver By Note Holder
Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as
described above, the Note Holder will stil have the right to do so if T am in default at a later time.
(©) Payment of Note Holder's Costs and Expenses
If the Note Holder bas 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 costs and expenses in enforcing this Note to the extent not prohibited by
applicable law. Those expenses inchude, for example, reasonable attorneys’ fees.
7. GIVING OF NOTICES
‘Unless applicable law requires a different method, any notice that must be given to me under this Note will be
given by delivering it or by mailing it by first class 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 ¥ am
given a notice of that different address.
FLORIDA FIXED RATE NOT Family. a
MODIFIED INSTRUMENT FOR DEPARTMENT OF VETERANS AFFAIRS
FLEN.VA (Rav. 1/04) Page 2 of &8. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises
made in this Note, including the promise to pay the full amount owed. Any person who is ¢ guarantor, surety or
eadorser of this Note is also obligated to do these things. Any person who takes over these obligations, including
the obligetions of a guarantor, surety or endorser of this Note, is aiso obligated to keep all of the promises made in
this Note. The Note Holder may enforce its rights under this Note ageinst each person individually of against all of
us together. ‘This mneans that any one of us may be required to pay all of the amounts owed under this Note.
3° 8." WAIVERS « .
1 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.
10, UNIFORM SECURED NOTE
This Mote is 9 oé>rm instrument with limited variations in some jurisdictions. In addition to the protections
sgiveo io the Note Holder under this Note, a Mortgage, Deod of Trust, or Security Deed (the "Security Instrument”),
ted 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 bow and under what conditions I may
be required to make immediate payment in full of all amounts T owe under this Note. Some of those conditions are
described as follows:
‘Transfer of the Property; Acceleration; Assumption, ‘This loan may be declared immediately
due and payable upon transfer of the property securing such loan to any transferee, unless the
acceptability of the assumption of the loan is established pursuant to Section 3714 of Chapter 37,
‘Titde 38, United States Code. The acceptability of any assumption shell also be subject to the
following additional provisions:
(@) Funding Fee: A fee equal to one-half of 1 percent of the balance of this loan
i 5 of the date of transfer of the property shall be payable at the time of transfer to the
| loan holder or its authorized agent, as trustee for the Department of Veterans Affairs. If
' the assumer fails to pay this fee at the time of transfer, the fee shall constitute an
' additional debt to that slready secured by this instrament, shall bear interest at the rate
i herein provided, and at the option of the payee of the indebtedness hereby secured or any
transferee thereof, shall be immediately due and payable. This fee is automatically waived
if the assamer is exempt under the provisions of 38 U.S.C. 3729(c). (Note: The fanding
fee for loans assumed between 12/13/02 and 09/30/03 will be 1 percent.)
(®) Processing Charge: Upon application for approval to allow assumption of this
Joan, a processing fee may be charged by the loan holder or its authorized agent for
determining the creditworthiness of the assumer and subsequently revising the holder's
ownership records when an approved transfer is completed. The amount of this charge
shall not exceed the maximum established by the Department of Veterans Affairs for a
loan to which Section 3714 of Chapter 37, Titie 38, United States Code applies,
(©) Indemnity Liabitity Assumption: If this obligation is assumed, then the
assnmer hereby agrees to assume all of the obligations of the veteran under the terms of
the instruments creating and securing the loan. The assumer further agrees to indemnify
the Department of Veterans Affairs to the extent of any claim payment arising from the
guaranty or insurance of the indebtedness created by this instrament.
Ifthe acceptability of the assumption of this loan is not established for any reason, and Lender
exercises its option to declare all sums secured by this Security Instrument Immediately due and
payable, Lender shall give Borrower notice of acceleration, The notice shall provide a period of not
FLORIDA FIXED RATE NOT fe Fami
Nee a eae SEOARIMENT OF VETERANS AFFAIRS Docatagie Cece
FLFN.VA (Rev. 1/01) Page 3 of 4less than 30 days from the date the notice is given in accordance with Section 14 within which
Borrower must pay all sams secured by this Security Instrument. If Borrower fails fo pay these sums
prior to the expiration of this period, Lender may fnvoke any remedies permitted by this Security
Instrument without farther notice or demand on Borrower.
11, DOCUMENTARY TAX
‘The state documentary tax due on this Note has been paid-on the mortgage securing this indebtedness.
NOTICE TO. BORROWER.
:
Department of Veterans Affairs regulations at 38 C.F.R. 36.4337 provide as follows:
"Regulations issued under 38 U.S.C. Chapter 37 and in effect om the date of any loan which is
submitted and accepted or approved for 2 guaranty or for insurance thereunder, shall govera the
rights, duties, and abilities of the parties to such loan and any provisions of tho loan instruments
inconsistent with such regulations arc aereby aricuded and supplemented! te conform thereto.”
‘WITNESS THE HANIXS) AND SEAL(S) OF THE UNDERSIGNED.
5
,
— Hod
ee
nena (Seal) ence (Seal)
~ _ aed =: (Seal
Loan Originator: Ursula Kupferer, NMLSR I
nm organization: Harbor Comm = NMLSR ID
. [Sign Original Only}
Libby Waited, Sr. Vice President
FLORIDA FIXED RATE Ni Fama _ 2
eee ee ee OR DEEARTMIENT OF VETERANS AFFAIRS Dacetegt Dara
FLFNVA (Rev. 1/01) Page 4 of 43126140011108 RECORDED IN THE RECORDS OF JEFFREY R. SMITH, CLERK OF CIRCUIT COURT INDIAN RIVER CO FL
BK: 2740 PG: 946, 2/27/2014 12:53 PM M DOCTAX PD $479.50 INT TAX PD $274.00
es ‘ ,
This Instrument Prepared By: |
Stewart Title
333 17th Street Suite F
Vero: Beach, FL 32963 &
After Recording Return To:
Harbor Community Bank
15588 SW Warfield Blvd
Indiantown, Florida 34956
Lean Number:
Case Number:
fees 1Ve-00
DS? A2P9.5O0
DAx! 277% 00 |
oer tn —~rb--ve {Space Above This Line For Recoring Data) -————
MORTGAGE
THIS LOAN IS NOT ASSUMABLE
WITHOUT THE APPROVAL OF THE
DEPARTMENT OF VETERANS AFFAIRS
OR ITS AUTHORIZED AGENT.
has ne 67
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 10,
12, 17, 19 and 20. Certain rules regarding the usage of words used in this document are also provided in Section 15.
(A) “Security Instrument" means this document, which is dated FEBRUARY 25, 2014 , together
with all Riders to this document,
8) “Borrower"is Lloyd Gunnells a single person
Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting
solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Seeurity
Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number
of P.O. Box 2026, Flint, MI 48501-2026, tel, (888) 679-MERS.
@) “Lender"is Harbor Community Bank
FLORIDA-Singie Family-UNIFORM INSTRUMENT Ts Dociagie GFarane
‘MODIFIED | DEPARTMENT OF VETERANS AFFAIRS - MERS pitonpr staf
(REV. 4/01) Page 1 of 15
EXHIBIT "B"BK: 2740 PG: 947
Lender isa STATE CHARTERED BANK organized
and existing under the laws of FLORIDA .
Lender's address is 15588 SW Warfield Blvd, Indiantown, Florida 34956
(E) "Note" means the promissory note signed by Borrower and dated FEBRUARY 25, 2014
The Note states that Borrower owes Lender ONE HUNDRED THIRTY-SEVEN THOUSAND AND
90/100 Dollars (U.S. $ 137,000.00 )
plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not
Jaterthan MARCH 1, 2044 .
(EF) "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.
(A) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are
to be executed by Borrower [check box as applicable]:
() Adjustable Rate Rider (CO) Planned Unit Development Rider
(] Balloon Rider (] Biweekly Payment Rider
( 1-4 Family Rider (Ol Second Home Rider
CO Condominium Rider EX] Other(s) [specify]
VA Assumption Policy Rider
@ "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial
opinions.
(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges
that are imposed on Borrower or the Property by a condominium association, homeowners association or similar
organization.
(K)_ "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft,
or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or
magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term
includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by
telephone, wire transfers, and automated clearinghouse transfers.
(L) "Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds paid by any
third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or
destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in
lieu of condemnation; or (iv) mistepresentations of, or omissions as to, the value and/or condition of the Property.
() "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note,
plus (ii) any amounts under Section 3 of this Security Instrument.
(QO) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing
regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or
successor legislation or regulation that governs the same subject matter. As used in this Security Instrument,
FLORIDA-Single Family-UNIFORM INSTRUMENT.
MODIFIED FOR IENT OF VETERANS AFFAIRS - MERS Pocmagic Carne
(REV. 1/01) Page 2 of 15BK: 2740 PG: 948
+
"“RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan”
even if the Loan does not qualify as a "federally related mortgage loan” under RESPA.-
(P) "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.
TRANSFER OF RIGHTS IN THE PROPERTY
‘This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and
modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security
Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as
nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, the following
described property located in the
COUNTY of INDIAN RIVER
[ype of Recording Jurisdiction] [Name of Recording Jurisdiction)
Lot 8, Block 87, SEBASTIAN HIGHLANDS, UNIT 2, according to the
plat thereof as recorded in Plat Book 5, Page 34, Public Records
of Indian River County, Florida.
A.P.N.: 31-38-01-00003-0870-00008/0
which currently has the address of 415 Hazel Street
[Street]
SEBASTIAN > Florida 32958 ("Property Address”):
[City] [Zip Code]
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 of the foregoing is referred to in this Security Instrument as the "Property."
Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security
Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors
and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose
and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling
this Security Instrument.
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right
to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of
record, Borrower warrants and will defend generally the title to the Property against all claims and demands, subject
to any encumbrances of record.
FLORIDA-Single Family-UNIFORM INSTRUMENT Docsapic Comms
MODIFIED FOR DEP OF VETERANS AFFAIRS - MERS
(REV. 1/01) Page 3 of 15 wow. docmagic.comBK: 2740 PG: 949
#
‘THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitute a uniform security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1, Payment of Principal, Interest, Escrow itms, 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, if any check or other
instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,
Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
‘one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check,
treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured
by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at such other
location as may be designated by Lender in accordance with the notice provisions in Section 14. Lender may retum
any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current, Lender
may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights
hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not
obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applicd as of
its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of
time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due
under the Note and this Security Instrument or performing the covenants and agreements secured by this Security
Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
accepted and applied by Lender shall be applied in the following order of priority: (a) interest due. under the Note;
(©) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic
Payment in the order in which it became due, Any remaining amounts shall be applied first to late charges, second
to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
If Lender receives a payment from. Borrower for a delinquent Periodic Payment which includes a sufficient
amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the
repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that
any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may
be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then
as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
shall not extend or postpone’ the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the
Property; (b) leasehold payments or ground rents on the Property, if any; and (c) premiums for any and all insurance
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required by Lender under Section 5. These items are called "Escrow Items.” At origination or at any time during the
term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed
by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to
Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items
unless Lender waives Borrower's obligation to pay the Funds for any or ali Escrow Items. Lender may waive
Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only
be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due
for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish
to Lender receipts evidencing such-payment within such time period as Lender may require. Borrower's obligation
to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement
contained in this Security Instrument, as the phrase "covenant and agreement” is used in Section 9. If Borrower is
obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow
Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under
Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any
time by a notice given in accordance with Section 14 and, upon such revocation, Borrower shall pay to Lender all
Funds, and in such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds
at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
of future Escrow Items or otherwise in accordance with Applicable Law.
The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan.
Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender
shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make
such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
Lender shall not be required to pay Borrower any interest or earnings on the Funds, Borrower and Lender can agree
in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
annual accounting of the Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for
the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA,
Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of
Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than
12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
any Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to
the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the
Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items
are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:
(a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only
FLORIDA-Single Family-UNIFORM INSTRUMENT, DocMagic BRoraxe
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so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against
enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien
while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder
of the lien an-agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
determines that any part of the Property is subject to a lien which can attain priority over this Security Tnstram if
FLORIDA-Single Family-UNIFORM INSTRUMENT ‘DocMs,
MODINED FOR DEP OF VETERANS AFFAIRS - MERS Pochte gic Romane
(REV. 1/01) Page 15 of 15BK: 2740 PG: 961
Loan Number:
Case Number:
VA ASSUMPTION POLICY RIDER
THIS LOAN IS NOT ASSUMABLE
WITHOUT THE APPROVAL OF THE
DEPARTMENT OF VETERANS AFFAIRS
OR ITS AUTHORIZED AGENT.
THIS ASSUMPTION POLICY RIDER is made this 25th dayof FEBRUARY, 2014 ,
and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed
to Secure Debt (“Instrument”) of the same date herewith, given by the undersigned ("Mortgagor") to secure
the Mortgagor's Note ("Note") of the same dateto Harbor Community Bank
("Mortgage") and covering the property described in the Instrument and located at:
415 Hazel Street, SEBASTIAN, FLORIDA 32958
(Property Address)
Notwithstanding anything to the contrary set forth in the Instrument, Mortgagee and Mortgagor hereby
acknowledges and agrees to the following:
GUARANTY: Should the Department of Veterans A fiairs fail or refuse to issue its guaranty in full amount
within 60 days from the date that this loan would normally become eligible for such guaranty committed
upon by the Department of Veterans Affairs under the provisions of Title 38 of the U.S. Code "Veterans
Benefits", the Mortgagee may declare the indebtedness hereby secured at once due and payable and may
foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law
provided,
TRANSFER OF THE PROPERTY: [f all or any part of the Property or any interest in it is sold or
transferred, this loan shall be immediately due and payable upon transfer ("assumption") of the property
securing such loan to any transferee ("assumer"), unless the acceptability of the assumption and iransfer of
this loan is established by the Department of Veterans Affairs or its authorized agent pursuant to section 3714
of Chapter 37, Title 38, United States Code.
An authorized transfer ("assumption") of the property shal! also be subject to additional covenants and
agreements as set forth below:
VA ASSUMPTION POLICY RIDER Germs
VAPRRDR 01/22/09 Page 1 of 2 von denent onEK: 2740 PG: 962
(a) ASSUMPTION FUNDING FEE: A fee equal to one-half of 1 percent (.50%) of the unpaid
principal balance of this loan as of the date of transfer of the property shall be payable at the time of transfer
to the mortgagee or its authorized agent, as trustee for the Secretary of Veterans Affairs. If the assumer fails
to pay this fee at the time of transfer, the fee shall constitute an additional debt to that already secured by this
instrument, shall bear interest at the rate herein provided, and, at the option of the mortgagee of the
indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This fee is
automatically waived if the assumer is exempt under the provisions of 38 U.S.C. 3729 (b).
(b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow
assumptions and transfer of this loan, a processing fee may be charged by the mortgagee or its authorized
agent for determining the creditworthiness of the assumer and subsequently revising the holder's ownership
records when an approved transfer is completed. The amount of this charge shall not exceed the maximum
established by the Department of Veterans Affairs for a loan to which section 3714 of Chapter 37, Title 38,
United States Code applies.
(c) ASSUMPTION INDEMNITY LIABILITY: If this obligation is assumed, then the assumer
hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and
securing the loan, including the obligation of the veteran to indemnify the Department of Veterans Affairs
to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this
instrument.
IN WITNESS WHEREOF, Mortgagor(s) has executed this Assumption Policy Rider.
‘Seal, ‘Seal)
d 7G lis Noreen Monee
(Seal) (Seal)
Mortgagor Mortgagor
(Seal) (Seal)
Mortgagor Mortgagor
VA ASSUMPTION POLICY RIDER
VAPR.RDR 01/22/09 Page 2 of 2 www.
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Filing # 137543628 E-Filed 10/29/2021 12:27:56 PM IN THE CIRCUIT COURT OF THE NINETEENTH JUDICIAL CIRCUIT IN AND FOR INDIAN RIVER COUNTY, FLORIDA GENERAL JURISDICTION DIVISION CASE NO. 312021CA000743XXXXXX U.S. BANK NATIONAL ASSOCIATION, a . Plaintiff, toe we ; vs. SANDRA BENDER SALDIBAR, AS PERSONAL REPRESENATIVE FOR THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED; SANDRA BENDER SALDIBAR; SIERRA D. GUNNELLS; SEACOAST NATIONAL BANK, Defendant(s). / VERIFIED COMPLAINT FOR FORECLOSURE OF MORTGAGE Plaintiff, U.S. BANK NATIONAL ASSOCIATION, sues the Defendants and alleges: COUNT I~ MORTGAGE FORECLOSURE 1, This is an action to foreclose a mortgage on real property in INDIAN RIVER County, Florida. 2. The Court has jurisdiction over the subject matter. 3. On February 25, 2014, LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED executed and delivered a promissory note and a mortgage securing payment of the note to HARBOR COMMUNITY BANK, STATE CHARTERED BANK. A copy of the note is attached hereto as Exhibit "A". The Mortgage was recorded on February 27, 2014 in Official Records Book 2740, at Page 946, of the Public Records of Indian River County, Florida, and PAGE 1 21-105371 - EIPmortgaged the property described in the mortgage then owned by the Mortgagor(s). A copy of the mortgage is attached hereto as Exhibit "B". 4. The Plaintiff's Mortgage is a lien superior in dignity to any prior or subsequent right, title, claim, lien, or interest of any defendant in this action, including but not limited to, any interest arising out of Mortgagor(s) or Mortgagor(s)' predecessor(s) and/or successors in interest. 5. Plaintiff is the holder of the original note secured by the mortgage. 6. Defendant(s) have defaulted under the Note aad Mortgage by failing to pay the payment due October 1, 2019, and all subsequent payments. 7. Plaintiff declares the full amount payable under the Note and Mortgage to be due, except to the extent any part of that amount is or would be subject to a statute of limitations defense. 8. Pursuant to the terms of the note and mortgage, and except for those Defendants who have been discharged in bankruptcy, Defendant(s) owe Plaintiff $99,210.54 that is due and owing on principal on the Note and Mortgage, plus interest from and after September 1, 2019, and title search expenses for ascertaining necessary parties to this action. 9. On or about September 10, 2019, LLOYD GUNNELLS' A/K/A LLOYD T. GUNNELLS died. 10. In order to protect its security, the Plaintiff may have advanced and paid Ad Valorem Taxes, premiums on insurance required by the Mortgage and other necessary costs, or may be required to make such advances during the pendency of this action. Any such sum(s) so paid will also be due and owing pursuant to the terms of the note and mortgage. 11. The property is now owned by Defendant(s), SANDRA BENDER SALDIBAR, AS PERSONAL REPRESENATIVE FOR THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED, if living and, if dead, the unknown spouses, heirs, and PAGE 2 21-105371 - EIPbeneficiaries of SANDRA BENDER SALDIBAR, AS PERSONAL REPRESENATIVE FOR THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED who now hold(s) possession. 12. All conditions precedent to the acceleration of this note and mortgage and to foreclosure of the mortgage have occurred, been satisfied or been waived. 13. Plaintiff is obligated to pay its attorneys a reasonable fee for their services. Plaintiff is entitled to recover its attorneys’ fees pursuant to the express terms of the Note-aad Mortgage. 14. Plaintiff alleges that the claims of the remaining Defendants are secondary, junior, inferior and subject to the prior claim of Plaintiff. 15. The Defendant, SANDRA BENDER SALDIBAR, may claim some right, title, or interest in the property herein sought to be foreclosed by virtue of POTENTIAL HEIR/BENEFICIARY IN THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED or some other unknown interest, the exact nature of which is unknown to Plaintiff and not a matter of public record. However, said interest, if any, is subordinate, junior, and inferior to the lien of Plaintiff's mortgage. 16. The Defendant, SIERRA D. GUNNELLS, may claim some right, title, or interest in the property herein sought to be foreclosed by virtue of POTENTIAL HEIR/BENEFICIARY IN THE ESTATE OF LLOYD GUNNELLS A/K/A LLOYD T. GUNNELLS, DECEASED or some other unknown interest, the exact nature of which is unknown to Plaintiff and not a matter of public record. However, said interest, if any, is subordinate, junior, and inferior to the lien of Plaintiff's mortgage. 17. Any interest in the property inuring to the Defendant, SEACOAST NATIONAL BANK, is subordinate and inferior to the lien of Plaintiffs mortgage, including, but not limited to, PAGE 3 21-105371 - EIPMORTGAGE recorded February 1, 2017, in Official Record Book 2998 at Page 1094 of the Public Records of Indian River County, Florida. WHEREFORE, Plaintiff demands judgment foreclosing the mortgage, for costs (and, when applicable, attorneys' fees), and, if the proceeds of the sale are insufficient to pay Plaintiff's judgment, Plaintiff asks the court to reserve jurisdiction to determine ‘whether a deficiency is appropriate, in the event it is sought. Subject to any applicable statute of limitations, Plaintiff furtle~ zequests that the Court ascertain the amount due to Plaintiff for principal and interest ou the Mortgage and Note, and for late charges, abstracting, taxes, expenses and costs, including attorney's fees, plus interest thereon. If the sums due Plaintiff under the Mortgage and Note are not paid immediately, Plaintiff requests that the Court foreclose the Mortgage and the Clerk of the Court sell the Property securing the indebtedness to satisfy the Plaintiff's mortgage lien in accordance with the provisions of Florida Statutes §45.031 (2006); and that the rights, title and interest of any Defendant, or any party claiming by, through, under or against any Defendant named herein or hereinafter made a Defendant be forever barred and foreclosed. Plaintiff further requests, where applicable, that the Court appoint a receiver of the Property and of the rents, issues, income and profits thereof, or in the alternative, order sequestration of rents, issues, income and profits pursuant to Florida Statutes §697.07 (2006); and that the Court retain jurisdiction of this action to make any and all further orders and judgments as may be necessary and proper, including the issuance of a writ of possession and the entry of a deficiency judgment decree, when and if such deficiency decree shall appear proper, provided Borrower(s) has/have not been discharged in bankruptcy. Finally, Plaintiff asks the [THIS SPACE IS INTENTIONALLY LEFT BLANK] PAGE 4 21-105371 - EIP- Court to retain jurisdiction to resolve disputes that might arise with respect to assessments due or allegedly due to any Homeowners or Condominium Association, if applicable. VERIFICATION OF COMPLAINT Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein are true and correct to the best of my knowledge and belief. Executed on this QO dayof OC* Ober, 2021. By: PAM ON OALOOUS - Print Name: Erin Matlock _ Title: ee Company: U.S. BANK NATIONAL ASSOCIATION ROBERTSON, ANSCHUTZ, SCHNEID, CRANE & PARTNERS, PLLC Attorney for Plaintiff 6409 Congress Ave., Suite 100 Boca Raton, FL 33487 Telephone; 561-241-6901 Facsimile: 561-997-6909 Service Email: FLmail@raslg.com /s/ Can Guner Can Guner, Esq., FL Bar No. 20931 Email: cguner@raslg.com PAGE 5 21-105371 - EIPState of Kentucky County of Daviess The foregoing instrument was subscribed and sworn to before me this 10/0 |< by Erin Matlock, Officer of U.S. Bank National Association, a federally chartered banking association, on behalf of U.S. Bank National Association. (seal) (signature o of notary public) State at Large (title or rank) SHAWNA M. MCGAHEY Notary Public Commonwealth of Kentucky Commission Number KYNP19738 My Commission Expires Jan 3, 2025 Edited 02/04/2015* c. : ORIGINA, ae i: NOTE cose mimes = | THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. FEBRUARY 25, 2014 Fort Pierce [Dee] icity] {Sear} 415 Hazel Street, SEBASTIAN, FLORIDA 32953 Property Address} 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $137,000.00 (this amount is called "Principal”), plus interest, to the order of the Lender. The Lender is Harbor Commumity Bank, State Chartered Bank Twill make all payments under this Note in the forni of cash, check or money order. understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and ‘who is enitied 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 ata yearly rate of 4.250%. ‘The interest rate required by this Section 2 is the rate 1 will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments T will pay principal and interest by making a payment every month. Iwill make my monthly payment on the 1st, day of each month beginning on APRIL 1 2014. Twill make these payments every month until I have paid all of the principal and interest and any other ‘Charges described below that ¥ may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If on MARCH 2, 2044 > T 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 2222 Colonial Road, Suite 101, Fort Pierce, Florida 34950 or at a different place if required by the Note Holder. ®) Amount of Monthly Payments My monthly payment will be in the amount of U.S. $ 673 . 96 FLORIDA FIXED RATE NOTE Single Famil Doctiagls Shows MODIFIED INSTRUMENT FOR DEPARTMENT OF VETERANS AFFAIRS wane. docmagie.coft FLEN.VA (Rev, 1/01) Page 1 of 4 EXHIBIT "A"4, BORROWER'S RIGHT TO PREPAY Tihave the right to make payments of Principel at any time before they are due. A payment of Principal only is known as a “Prepayment.” When I make a Prepayment, I will tell the Note Holder in writing that 1 am doing 0. 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 T owe under this Note. However, the 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 thie doe date or in the‘amount of my monthly payment unless the Note Holder agrees in-writing to those, changes. 5. LOAN CHARGES If'a law, which applies to this Joan and which sets maximum Joan 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 mary -hoose to make this refund by reducing the Principal I owe under this Note or by making a direct paymneat to me. If a reflind reduces Principal, the reduction will be treated as a partial Prepayment. 6. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder bas not received the full amount of any monthly payment by the end of 15 calendar days after the date it is du, I will pay a late charge to the Note Holder. The amount of the charge will be 4.000 % of my overdue payment of principal, interest, and escrow for taxes and insurance. I will pay this Inte charge promptly but only once on esch late paysnent. (B) Defantt If I do not pay the full amount of cach monthly payment on the date itis due, I will be in default. (© Notice of Default If Lam in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the fall amount 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 after the date on which the notice is mailed to me or delivered by other means. (D) No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the Note Holder will stil have the right to do so if T am in default at a later time. (©) Payment of Note Holder's Costs and Expenses If the Note Holder bas 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 costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses inchude, for example, reasonable attorneys’ fees. 7. GIVING OF NOTICES ‘Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class 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 ¥ am given a notice of that different address. FLORIDA FIXED RATE NOT Family. a MODIFIED INSTRUMENT FOR DEPARTMENT OF VETERANS AFFAIRS FLEN.VA (Rav. 1/04) Page 2 of &8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is ¢ guarantor, surety or eadorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligetions of a guarantor, surety or endorser of this Note, is aiso obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note ageinst each person individually of against all of us together. ‘This mneans that any one of us may be required to pay all of the amounts owed under this Note. 3° 8." WAIVERS « . 1 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. 10, UNIFORM SECURED NOTE This Mote is 9 oé>rm instrument with limited variations in some jurisdictions. In addition to the protections sgiveo io the Note Holder under this Note, a Mortgage, Deod of Trust, or Security Deed (the "Security Instrument”), ted 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 bow and under what conditions I may be required to make immediate payment in full of all amounts T owe under this Note. Some of those conditions are described as follows: ‘Transfer of the Property; Acceleration; Assumption, ‘This loan may be declared immediately due and payable upon transfer of the property securing such loan to any transferee, unless the acceptability of the assumption of the loan is established pursuant to Section 3714 of Chapter 37, ‘Titde 38, United States Code. The acceptability of any assumption shell also be subject to the following additional provisions: (@) Funding Fee: A fee equal to one-half of 1 percent of the balance of this loan i 5 of the date of transfer of the property shall be payable at the time of transfer to the | loan holder or its authorized agent, as trustee for the Department of Veterans Affairs. If ' the assumer fails to pay this fee at the time of transfer, the fee shall constitute an ' additional debt to that slready secured by this instrament, shall bear interest at the rate i herein provided, and at the option of the payee of the indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This fee is automatically waived if the assamer is exempt under the provisions of 38 U.S.C. 3729(c). (Note: The fanding fee for loans assumed between 12/13/02 and 09/30/03 will be 1 percent.) (®) Processing Charge: Upon application for approval to allow assumption of this Joan, a processing fee may be charged by the loan holder or its authorized agent for determining the creditworthiness of the assumer and subsequently revising the holder's ownership records when an approved transfer is completed. The amount of this charge shall not exceed the maximum established by the Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37, Titie 38, United States Code applies, (©) Indemnity Liabitity Assumption: If this obligation is assumed, then the assnmer hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and securing the loan. The assumer further agrees to indemnify the Department of Veterans Affairs to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrament. Ifthe acceptability of the assumption of this loan is not established for any reason, and Lender exercises its option to declare all sums secured by this Security Instrument Immediately due and payable, Lender shall give Borrower notice of acceleration, The notice shall provide a period of not FLORIDA FIXED RATE NOT fe Fami Nee a eae SEOARIMENT OF VETERANS AFFAIRS Docatagie Cece FLFN.VA (Rev. 1/01) Page 3 of 4less than 30 days from the date the notice is given in accordance with Section 14 within which Borrower must pay all sams secured by this Security Instrument. If Borrower fails fo pay these sums prior to the expiration of this period, Lender may fnvoke any remedies permitted by this Security Instrument without farther notice or demand on Borrower. 11, DOCUMENTARY TAX ‘The state documentary tax due on this Note has been paid-on the mortgage securing this indebtedness. NOTICE TO. BORROWER. : Department of Veterans Affairs regulations at 38 C.F.R. 36.4337 provide as follows: "Regulations issued under 38 U.S.C. Chapter 37 and in effect om the date of any loan which is submitted and accepted or approved for 2 guaranty or for insurance thereunder, shall govera the rights, duties, and abilities of the parties to such loan and any provisions of tho loan instruments inconsistent with such regulations arc aereby aricuded and supplemented! te conform thereto.” ‘WITNESS THE HANIXS) AND SEAL(S) OF THE UNDERSIGNED. 5 , — Hod ee nena (Seal) ence (Seal) ~ _ aed =: (Seal Loan Originator: Ursula Kupferer, NMLSR I nm organization: Harbor Comm = NMLSR ID . [Sign Original Only} Libby Waited, Sr. Vice President FLORIDA FIXED RATE Ni Fama _ 2 eee ee ee OR DEEARTMIENT OF VETERANS AFFAIRS Dacetegt Dara FLFNVA (Rev. 1/01) Page 4 of 43126140011108 RECORDED IN THE RECORDS OF JEFFREY R. SMITH, CLERK OF CIRCUIT COURT INDIAN RIVER CO FL BK: 2740 PG: 946, 2/27/2014 12:53 PM M DOCTAX PD $479.50 INT TAX PD $274.00 es ‘ , This Instrument Prepared By: | Stewart Title 333 17th Street Suite F Vero: Beach, FL 32963 & After Recording Return To: Harbor Community Bank 15588 SW Warfield Blvd Indiantown, Florida 34956 Lean Number: Case Number: fees 1Ve-00 DS? A2P9.5O0 DAx! 277% 00 | oer tn —~rb--ve {Space Above This Line For Recoring Data) -———— MORTGAGE THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. has ne 67 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 10, 12, 17, 19 and 20. Certain rules regarding the usage of words used in this document are also provided in Section 15. (A) “Security Instrument" means this document, which is dated FEBRUARY 25, 2014 , together with all Riders to this document, 8) “Borrower"is Lloyd Gunnells a single person Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Seeurity Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel, (888) 679-MERS. @) “Lender"is Harbor Community Bank FLORIDA-Singie Family-UNIFORM INSTRUMENT Ts Dociagie GFarane ‘MODIFIED | DEPARTMENT OF VETERANS AFFAIRS - MERS pitonpr staf (REV. 4/01) Page 1 of 15 EXHIBIT "B"BK: 2740 PG: 947 Lender isa STATE CHARTERED BANK organized and existing under the laws of FLORIDA . Lender's address is 15588 SW Warfield Blvd, Indiantown, Florida 34956 (E) "Note" means the promissory note signed by Borrower and dated FEBRUARY 25, 2014 The Note states that Borrower owes Lender ONE HUNDRED THIRTY-SEVEN THOUSAND AND 90/100 Dollars (U.S. $ 137,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not Jaterthan MARCH 1, 2044 . (EF) "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. (A) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: () Adjustable Rate Rider (CO) Planned Unit Development Rider (] Balloon Rider (] Biweekly Payment Rider ( 1-4 Family Rider (Ol Second Home Rider CO Condominium Rider EX] Other(s) [specify] VA Assumption Policy Rider @ "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K)_ "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) mistepresentations of, or omissions as to, the value and/or condition of the Property. () "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (QO) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, FLORIDA-Single Family-UNIFORM INSTRUMENT. MODIFIED FOR IENT OF VETERANS AFFAIRS - MERS Pocmagic Carne (REV. 1/01) Page 2 of 15BK: 2740 PG: 948 + "“RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan” even if the Loan does not qualify as a "federally related mortgage loan” under RESPA.- (P) "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. TRANSFER OF RIGHTS IN THE PROPERTY ‘This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, the following described property located in the COUNTY of INDIAN RIVER [ype of Recording Jurisdiction] [Name of Recording Jurisdiction) Lot 8, Block 87, SEBASTIAN HIGHLANDS, UNIT 2, according to the plat thereof as recorded in Plat Book 5, Page 34, Public Records of Indian River County, Florida. A.P.N.: 31-38-01-00003-0870-00008/0 which currently has the address of 415 Hazel Street [Street] SEBASTIAN > Florida 32958 ("Property Address”): [City] [Zip Code] 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 of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record, Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. FLORIDA-Single Family-UNIFORM INSTRUMENT Docsapic Comms MODIFIED FOR DEP OF VETERANS AFFAIRS - MERS (REV. 1/01) Page 3 of 15 wow. docmagic.comBK: 2740 PG: 949 # ‘THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1, Payment of Principal, Interest, Escrow itms, 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, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in ‘one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 14. Lender may retum any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current, Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applicd as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due. under the Note; (©) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due, Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from. Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone’ the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; and (c) premiums for any and all insurance FLORIDA-Single Family-UNIFORM INSTRUMENT ‘DoeMagie GRaras MODIFIED FOR DEPARTMENT OF VETERANS AFFAIRS - MERS www.docmagic.com (REV. 1/01) Page 4 of 15BK: 2740 PG: 950 ~ + ~ required by Lender under Section 5. These items are called "Escrow Items.” At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or ali Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such-payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement” is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 14 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan. Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds, Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only FLORIDA-Single Family-UNIFORM INSTRUMENT, DocMagic BRoraxe MODIFIED FOR DEPARTMENT OF VETERANS AFFAIRS - MERS www.docmagic.com (REV. 1/01) Page 5 of 15BK: 2740 PG: 951 m . : so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an-agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Tnstram if FLORIDA-Single Family-UNIFORM INSTRUMENT ‘DocMs, MODINED FOR DEP OF VETERANS AFFAIRS - MERS Pochte gic Romane (REV. 1/01) Page 15 of 15BK: 2740 PG: 961 Loan Number: Case Number: VA ASSUMPTION POLICY RIDER THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS ASSUMPTION POLICY RIDER is made this 25th dayof FEBRUARY, 2014 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (“Instrument”) of the same date herewith, given by the undersigned ("Mortgagor") to secure the Mortgagor's Note ("Note") of the same dateto Harbor Community Bank ("Mortgage") and covering the property described in the Instrument and located at: 415 Hazel Street, SEBASTIAN, FLORIDA 32958 (Property Address) Notwithstanding anything to the contrary set forth in the Instrument, Mortgagee and Mortgagor hereby acknowledges and agrees to the following: GUARANTY: Should the Department of Veterans A fiairs fail or refuse to issue its guaranty in full amount within 60 days from the date that this loan would normally become eligible for such guaranty committed upon by the Department of Veterans Affairs under the provisions of Title 38 of the U.S. Code "Veterans Benefits", the Mortgagee may declare the indebtedness hereby secured at once due and payable and may foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law provided, TRANSFER OF THE PROPERTY: [f all or any part of the Property or any interest in it is sold or transferred, this loan shall be immediately due and payable upon transfer ("assumption") of the property securing such loan to any transferee ("assumer"), unless the acceptability of the assumption and iransfer of this loan is established by the Department of Veterans Affairs or its authorized agent pursuant to section 3714 of Chapter 37, Title 38, United States Code. An authorized transfer ("assumption") of the property shal! also be subject to additional covenants and agreements as set forth below: VA ASSUMPTION POLICY RIDER Germs VAPRRDR 01/22/09 Page 1 of 2 von denent onEK: 2740 PG: 962 (a) ASSUMPTION FUNDING FEE: A fee equal to one-half of 1 percent (.50%) of the unpaid principal balance of this loan as of the date of transfer of the property shall be payable at the time of transfer to the mortgagee or its authorized agent, as trustee for the Secretary of Veterans Affairs. If the assumer fails to pay this fee at the time of transfer, the fee shall constitute an additional debt to that already secured by this instrument, shall bear interest at the rate herein provided, and, at the option of the mortgagee of the indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This fee is automatically waived if the assumer is exempt under the provisions of 38 U.S.C. 3729 (b). (b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow assumptions and transfer of this loan, a processing fee may be charged by the mortgagee or its authorized agent for determining the creditworthiness of the assumer and subsequently revising the holder's ownership records when an approved transfer is completed. The amount of this charge shall not exceed the maximum established by the Department of Veterans Affairs for a loan to which section 3714 of Chapter 37, Title 38, United States Code applies. (c) ASSUMPTION INDEMNITY LIABILITY: If this obligation is assumed, then the assumer hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and securing the loan, including the obligation of the veteran to indemnify the Department of Veterans Affairs to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrument. IN WITNESS WHEREOF, Mortgagor(s) has executed this Assumption Policy Rider. ‘Seal, ‘Seal) d 7G lis Noreen Monee (Seal) (Seal) Mortgagor Mortgagor (Seal) (Seal) Mortgagor Mortgagor VA ASSUMPTION POLICY RIDER VAPR.RDR 01/22/09 Page 2 of 2 www.