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Filing # 79927882 E-Filed 10/26/2018 01:06:57 PM
IN THE CIRCUIT COURT OF THE FOURTH JUDICIAL CIRCUIT
IN AND FOR CLAY COUNTY, FLORIDA
CIVIL DIVISION
Bank of America, N.A
Case #:
Plaintiff,
-VS.-
Juan Miguel Treche; Yelina Reyes Diaz a/k/a
Yelina Diaz; Fabiola Mercedes Lezama;
Unknown Parties in Possession #1, if living,
and all Unknown Parties claiming by, through,
under and against the above named
Defendant(s) who are not known to be dead or
alive, whether said Unknown Parties may claim
an interest as Spouse, Heirs, Devisees,
Grantees, or Other Claimants; Unknown Parties
in Possession #2, if living, and all Unknown
Parties claiming by, through, under and against
the above named Defendant(s) who are not
known to be dead or alive, whether said
Unknown Parties may claim an interest as
Spouse, Heirs, Devisees, Grantees, or Other
Claimants
Defendant(s).
VERIFIED COMPLAINT TO FORECLOSE MORTGAGE
Plaintiff, Bank of America, N.A, sues the Defendant(s) and states:
1. This is an action to foreclose a mortgage on rea! property located in Clay County,
Florida, and by reason thereof the venue for this matter is in Clay County, Florida.
2. Borrower(s) Juan Miguel Treche and Yelina Reyes Diaz a/k/a Yelina Diaz
executed and delivered a Promissory Note (“Note”) dated June 30, 2004 and Juan Miguel Treche
and Yelina Reyes Diaz a/k/a Yelina Diaz executed a first Mortgage (“Mortgage”) dated June 30,
2004 securing payment of the Note to the payee named thereon, The Mortgage was recorded inOfficial Records Book 2406, at Page 749, of the Public Records of Clay County, Florida, and
mortgaged the property described in the mortgage then owned by and in possession of the
mortgagor(s). True and correct copies of said Note and Mortgage, are attached hereto as Exhibit
"A" and Exhibit "B” respectively.
3. The parties subsequently modified the aforementioned loan documents. A copy
of the Loan Modification is attached hereto as Exhibit “C”.
4. The Defendant, Juan Miguel Treche, executed the Loan Modification.
5. Plaintiff, through its counsel, is in physical possession of the original Note, an
exact copy of which is attached hereto as Exhibit “A”, and by virtue of being in possession of
such original Note, is the holder of that Note.
6. The Mortgage of the Plaintiff is a purchase money mortgage being a lien superior
in dignity to any prior or subsequent right, title, claim, lien or interest arising out of mortgagor or
the mortgagor's predecessors in interest.
7. Defendant, Juan Miguel Treche, is the current owner of the real property which is
the subject of the Mortgage.
8. All conditions precedent to the acceleration of the Note and Mortgage and the
filing of the instant foreclosure complaint have been fulfilled.
9. There has been a default in the payment of the amounts due under the Note and
Mortgage in that the payment due for January ], 2018 and all subsequent payments have not
been made.
10. Plaintiff declares the full amount payable under the Note and Mortgage to be due
and payable.11. Defendants who may be held personally liable for a deficiency, if any, are the
notemakers, Juan Miguel Treche and Yelina Reyes Diaz a/k/a Yelina Diaz, unless any of such
Defendants have been discharged in bankruptcy in which event no deficiency is or will be
sought,
12. There is now due and owing the principal sum of $89,444.79 accruing interest
pursuant to the terms of the aforementioned loan documents and together with all sums that may
be due for taxes, insurance, escrow advances, and expenses and costs of suit including but not
limited to filing fees, recording fees, title search and examination fees, fees due for service of
process and such other costs as may be allowed by the Court.
13. Plaintiff is obligated to pay plaintiffs attorney a reasonable fee for their services
“and seeks an award of attorney’s fees. Plaintiff is entitled to recover its attorneys’ fees under the
Note and Mortgage.
14. That the Defendant, Fabiola Mercedes Lezama, might have some claim or
demand in the subject property by virtue of spousal homestead interest, if any, and al] other
rights, claims, liens, interest, encumbrances and equities, either recorded or unrecorded, if any in
the subject real property. The above-described interest of said Defendant(s) in the subject
property is inferior to the interest of the Plaintiff in said property.
15. That the Defendant, Unknown Parties in Possession #1, if living, and all
Unknown Parties claiming by, through, under and against the above named Defendant(s) who
are not known to be dead or alive, whether said Unknown Parties may claim an interest as
Spouse, Heirs, Devisees, Grantees, or Other Claimants might have some claim or demand in the
subject real property by virtue of possession, whether by tenancy from the record title holder or
mere possession only, however, any such claim or demand is inferior to the lien of the Mortgage.16. That the Defendant, Unknown Parties in Possession #2, if living, and all
Unknown Parties claiming by, through, under and against the above named Defendant(s) who
are not known to be dead or alive, whether said Unknown Parties may claim an interest as
Spouse, Heirs, Devisees, Grantees, or Other Claimants might have some claim or demand in the
subject rea] property by virtue of possession, whether by tenancy from the record title holder or
mere possession only, however, any such claim or demand is inferior to the lien of the Mortgage.
WHEREFORE. plaintiff demands judgment foreclosing the mortgage, for costs and for
attorneys’ fees, and respectfully requests that the court enter a Final Judgment: (a) enumerating
all amounts the court determines due to Plaintiff pursuant to said Note and Mortgage, (b)
ordering the Clerk of the Court to sell the subject property to satisfy the amount due Plaintiff, in
whole or in part; (c) adjudging that the right, title and interest of any party claiming by, through,
under or against any Defendant named herein be deemed inferior and subordinate to the
Plaintiff's Mortgage lien and be forever barred and foreclosed; (d) retaining jurisdiction of the
court in this action to make any and all further orders and judgments as may be necessary and
proper, including issuance of a writ of possession, to determine the amount of assessments due
pursuant to sections 718.116 or 720.3085 and the entry of a deficiency, only when and if such
(This space left intentionally blank)deficiency is sought; and, (e) for such other and further relief as the court may deem just and
proper.
FLA. R. CIV. P. 1.115(¢) VERIFICATION
Under penalties of perjury, | declare that | have read the foregoing Complaint to Foreclose Mortgage, and
the facts alleged therein are true and correct to the best of my knowledge and belief.
Print Name? Awa'
Title: Default Supervisor-Foreclosure
Date:
Bank of America, N.A by Carrington Mortgage Services,
LLC as Servicer and Attorney-in-Fact
*Pursuant to Fla. R. Jud. Admin. 2.516(b)(1)(A), Plaintiff's counsel
hereby designates its primary email address for the purposes of
email service as: SFGBocaService@logs.com*
SHAPIRO, FISHMAN & GACHE, LLP
Attorneys for Plaintiff
2424 North Federal Highway, Ste 360
Boca Raton, Florida 33431
Telephone: (561) 998-6700 Ext, 6672
Fax: (561) 998-6707
For Email Service Only: SFGBocaService@logs.com
For all other inquiries: kdulay@logs.com
FL BAR # 43811
Pursuant to the Fair Debt Collections Practices Act, you are advised that this office may be
deemed a debt collector and any information obtained may be used for that purpose.
18-315584 FCO! CGGExhibit
Aa
NOTE
dune 30, 2004 ATLANTA Georgia
[Dated icity [State]
1414 FORBES STREET :GREEN COVE SPRINGS,FL 32043
{Property Address}
1. BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U.S, $ 100,661.00 (his amount is called "Principal"),
plus interest, to the order of the Lender. The Lender is FIDELITY BANK d/b/a FIDELITY BANK MORTGAGE
I will make all payments under this Note in the form of cash, check or money order.
1 understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and whe is
entitled to receive payments under this Note is cailed the “Note Holder."
2. INTEREST
Interest will be charged on unpaid principal until the full amount of Principal has been paid. | will pay interest at a yearly
rate of 6.6250 %.
The interest rate required by this Section 2 is the rate | will pay both before and after any default described in Section 6(B)
of this Note.
3. PAYMENTS
(A) Time and Place of Payments
I will pay principal and interest by making a payment every month.
I will make my monthly payment onthe ]st — day of each month beginning on August 1, 2004 . l will
make these payments every month until | 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. I, on duly 1, 2034 , L still owe amounts under this Note, | will pay those amounts in full on
that date, which is called the “Maturity Date.”
I will make my monthly payments at 3 CORPORATE SQUARE, SUITE 700,
ATLANTA, GA 30329 or at a different place if required by the Note Holder.
(B) Amount of Monthly Payments
My monthly payment will be in the amount of U.S. $644.54
4. BORROWER’S RIGHT TO PREPAY
Thave the right to make payments of Principal at any time before they are due. A payment of Principal only is known as @
“Prepayment.” When 1 make a Prepayment, I will tell the Note Holder in writing that | am doing so. | may not designate a
payment as a Prepayment if | 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 1 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 f make a partial Prepayment, there will be no changes in the due date or in the amount of my
monthly payment unless the Note Holder agrees in writing to those changes.
TRECHE JM Zz 0
FLORIDA FIXED RATE NOTE-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
EBD -SNIFLI 1c098) Form 3210 1/04
© VMP MORTGAGE FORMS - i800)521-7231
Page 1 of 3 sy 05/00 testaals 4483§. LOAN CHARGES
Ha law. which applies io this ioan 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 wil! be refunded 10 me. The Note Holder may choose to make this refund by reducing the
Principal | owe under this Note or by making a direct payment to me, If a refund 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 has not received the full amount of any monthly payment by the end of 15 calendar days
after the date it is due, 1 will pay a fate charge to the Note Holder. The amount of the charge will be 5.0000 % of
my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment.
(B) Default
Hf} do not pay the full amount of each monthly payment on the date it is due, I will be in default.
(C) Notice of Default
If f am in default, the Note Holder may send me a written notice telling me that if | do not pay the overdue amount by a
certain date, the Note Holder may require me to pay immediately the full amount of Principal which has not been paid and all
the interest that } owe on that amount. That date must be at least 30 days after the date on which the notice is mailed 10 me or
delivered by other means.
(D) No Waiver By Note Holder
Even if, at a time when | 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 ] am in default at 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 costs and expenses in enforcing this Note 10 the extent not prohibited by applicable law. Those
expenses include, 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 1 give the Noie
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 staied in Section 3(A) above or at a different address if ] am given a notice of that
different address.
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 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
under this Note against each person individually or against all of us togettier, This means that any one of us may be required to
pay all of the amounts owed under this Note.
9. WAIVERS
T 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 10 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.
TRECHE Ji mz 0
Form 3210 1/07
EBD, -BNIFLI 00081 Page 2 of 3 snaa.
10. 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 | make in this
Note. That Security Instrument describes how and under what conditions | may be required to make immediate payment in full
of all amounts I owe under this Note. Some of these conditions are described as follows:
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 interest in Borrower is sold or transferred) without Lender's prior written
consent, Lender may require immediate payment in full of all sums secured by this Security Instrument.
However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law.
Hf Lender exercises this option, 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.
11, DOCUMENTARY TAX
The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED
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JUAN MIGUEL TRECHE : “Borrower YELINA REYES DIAZ -Borrower
(Seal) (Seal)
-Bosrower Borrower
{Seal} (Seal)
Borrower Borrower
(Seat) (Seal)
-Borrower Borrower
[Sign Original Only}
TRECHE JM lz 0
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BCFN # 2004061252, OR BK 2406 Page 749, Recorded 07/21/2004 at 01:38 PM, Clay
County, Doc M: $352.45 Int. Tax $201.32 Deputy Clerk HAMPSHIRET
Retum To:
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S 3 Corporate Square Ste [700
Adlaata GA 30329
This document was prepared by:
DONNA WEBB-REAVES
{Space Above This Line For Recording Data)
MORTGAGE
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in
Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are
also provided in Section 16.
(A) "Security Instrument" means this document, which is dated dune 30, 2004 ,
together with all Riders to this document.
(B) "Borrower" is JUAN MIGUEL TRECHE and YELINA REYES DIAZ, husband and wife
Borrower is the morigagor under this Security Instrument.
(C) "Lender" is FIDELITY BANK d/b/a FIDELITY BANK MORTGAGE
Lender is a
organized and existing under the laws of the state of Georgia
TRECHE JM iz 0
FLORIDA.Singie Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01
Z,SIFLI co0s101
page rote Mwosjooo: mie WEY PT
VMe MORTGAGE FORMS -OR BK 2406 PG 750
Lender's address is 3 CORPORATE SQUARE, SUITE 700, ATLANTA, GA 30329
Lender is the mortgagee under this Security Instrument.
(D) "Note" means the promissory note signed by Borrower and dated June 30, 2004
The Note states that Borrower owes Lender One Hundred Thousand Six Hundred Sixty One
and no/100 Dollars
(U.S. $100,661.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
Payments and to pay the debt in full not later than July 1, 2034 .
{E) "Property" means the property that is described below under the heading “Transfer of Rights in the
Property.”
(F)" 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.
(G) “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}:
(2) adjustable Rate Rider - Condominium Rider (J second Home Rider
[1 Balloon Rider Planned Unit Development Rider [_] 1-4 Family Rider
(J va Rider [7] Biweekly Payment Rider [J others) {specify}
(H) "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.
@® "Community Association Dues, Fees, and Assessments" means all dues, fees, assessrnents and other
charges that are imposed on Borrower or the Property by a condominium association, homeowners
association or similar organization.
(@) “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.
(K) "Escrow Items" means those items that are described in Section 3,
(L) "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 10, 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) misrepresentations of, or omissions as to, the
value and/or condition of the Property.
{M) “Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
the Loan.
4N) "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.
TRECHE JM 7 0
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ZB 6IFLI 1008.01 Page 2 of 16 . Form 3010 1/01
ITOR BK 2406 PG 751
(O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its
implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to
time, or any additional or successor legislation or regulation that governs the same subject matter. As used
in this Security Instrument, "RESPA” refers to all requirements and restrictions that are imposed in regard
to a “federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage
Joan” 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
Lender, the following described property located in the County {Type of Recording Jurisdiction)
of CLAY [Name of Recording Jurisdiction):
Lot 1 Block KX, of the Shands Plat of the North Suburbs of Green Cove Springs,
according to plat thereof as recorded in Plat Book 2, page l, of the public
records of Clay County, Florida.
Parcel ID Number: which currently has the address of
1414 FORBES STREET {Street}
GREEN COVE SPRINGS (City), Florida 32043 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 of the foregoing is referred to in this
Security Instrument as the "Property.“
TRECHE JM a on VD 0
ZB, SIFU (0008101 Page 3 oF 16 Form 3010 1/01OR BK 2406 PG 752
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has
the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for
encumbrances of record. Borrower warrants and will defend generally the title to the Property against all
claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform
covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
y.
UNIFORM COVENANTS. Borrower and Lender covenant and agrec as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any
prepayment charges and late 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 alt subsequent payments
due under the Note and this Security Instrument be made in one or more of the following forms, as
selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or
cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a
federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at
such other location as may be designated by Lender in accordance with the notice provisions in Section 15.
Lender may 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 arc
accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring
the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply
such funds or return them to Borrower. If not applied carlier, such funds will be applied to the outstanding
principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower
might have now or in the future against Lender shall relieve Borrower from making payments due under
the Note and this Security Instrument or performing the covenants and agreements secured by this Security
Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all
payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest
due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments
shall be applied to cach 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
TRECHE JM a 0
won, 02:
GZ, AFL cooH.01 Page 4 of 16 Form 3010 1/01
TTOR BK 2406 PG 753
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 Jate charges due. Voluntary
prepayments shall be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under
the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
under the Note, until the Note is paid in full, a sum (the "Funds”) to provide for payment of amounts due
for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a
lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c)
premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance
premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
lems." 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 10 pay the Funds for any or all 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,
shal] 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 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in
such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
Law.
‘The Funds shall be held in an institution whose deposits are insured by a federal agency,
instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
or Applicable Law requires interest to be paid on the Funds, Lender shal! not be required to pay Borrower
any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
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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 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 Instrument, Lender may give Borrower a notice identifying the
lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or
more of the actions set forth above in this Section 4.
Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or
reporting service used by Lender in connection with this Loan.
5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on
the Property insured against loss by fire, hazards included within the term “extended coverage,” and any
other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance.
This insurance shall be maintained in the amounts (including deductible levels) and for the periods that
Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of
the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's
right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may
require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone
determination, certification and tacking services; or (b) a one-time charge for flood zone determination
and certification services and subsequent charges each time remappings or similar changes occur which
reasonably might affect such determination or certification. Borrower shall also be responsible for the
payment of any fees imposed by the Federal Emergency Management Agency in connection with the
review of any flood zone determination resulting from an objection by Borrower.
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If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any
particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might
not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk,
hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower
acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of
insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shal!
become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest
at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from
Lender to Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's
right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as
morigagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal
certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and
renewal notices, If Borrower obtains any form of insurance coverage, not otherwise required by Lender,
for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
shall name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender
may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree
in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall
be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken
promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series
of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any
interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by
Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If
the restoration or repair is not economically feasible or Lendet’s security would be lessened, the insurance
proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
the excess, if any, paid to Borrower. Such insurance proceeds shall be applicd in the order provided for in
Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance
claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the
insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day
period will begin when the notice is given. In either event, or if Lender acquires the Property under
Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance
proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrament, and
(b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by
Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the
coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or
to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
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6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender
‘otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
circumstances exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not
destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the
Property. Whether or not Borrower is residing in the Property, Borrower shalt maintain the Property in
order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is
determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall
promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such
purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of
such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give
Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application
process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's
knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender
(or failed to provide Lender with material information) in connection with the Loan. Material
representations include, but are not fimited to, representations concerning Borrower's occupancy of the
Property as Borrower’s principal residence.
9. Protection of Lender’s Interest in the Property and Rights Under this Security Instrument. If
(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there
is a legat proceeding that might significantly affect Lender’s interest in the Property and/or rights under
this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for
enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
reasonable or appropriate to protect Lender's interest in the Property and rights under this Security
Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing
the Property. Lender’s actions can include, but are not limited 10: (a) paying any sums secured by a lien
which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable
attorneys’ fees to protect its interest in the Property and/or rights under this Security Instrument, including
its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to,
entering the Property to make repairs, change locks, replace or board up doors and windows, drain water
from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned
on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not
under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or alt
actions authorized under this Section 9.
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Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower
secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
ayment.
” If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the
lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless
Lender agrees to the merger in writing.
10, Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason,
the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that
previously provided such insurance and Borrower was required to make separately designated payments
toward the premiums for Morigage Insurance, Borrower shall pay the premiums required to obtain
coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially
equivalent to the cost 10 Borrower of the Mortgage Insurance previously in effect, from an alternate
mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not
available, Borrower shall continue to pay to Lender the amount of the separately designated payments that
were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
payments as a non-refundable loss reserve in lieu of Morigage Insurance. Such loss reserve shall be
non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be
required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss
reserve payments if Morigage Insurance coverage (in the amount and for the period that Lender requires)
provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires
separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage
Insurance as a condition of making the Loan and Borrower was required to make separately designated
payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's
requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
Lender providing for such termination or until termination is required by Applicable Law. Nothing in this
Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it
may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage
Insurance.
Morigage insurers evaluate their total risk on all such insurance in force from time to time, and may
enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements
are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to
these agreements. These agreements may require the mortgage insurer to make payments using any source
of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage
Insurance premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that
derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. Tf such agreement
provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
premiums paid to the insurer, the arrangement is often termed “captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
Mortgage Insurance, or any other terms of the Loan, Such agreements will not increase the amount
Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
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(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
may include the right to receive certain disclosures, to request and obtain cancellation of the
Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is ed, such Miscellaneous Proceeds shalt be applied to restoration or repair of
the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened.
During such repair and restoration period, Lender shall have the right to hold such Miscelfaneous Proceeds
until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
repairs and restoration in a single disbursement or in a series of progress payments as the work is
completed. Uniess an agreement is made in writing or Applicable Law requires interest
Preview
Filing # 79927882 E-Filed 10/26/2018 01:06:57 PM IN THE CIRCUIT COURT OF THE FOURTH JUDICIAL CIRCUIT IN AND FOR CLAY COUNTY, FLORIDA CIVIL DIVISION Bank of America, N.A Case #: Plaintiff, -VS.- Juan Miguel Treche; Yelina Reyes Diaz a/k/a Yelina Diaz; Fabiola Mercedes Lezama; Unknown Parties in Possession #1, if living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimants; Unknown Parties in Possession #2, if living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimants Defendant(s). VERIFIED COMPLAINT TO FORECLOSE MORTGAGE Plaintiff, Bank of America, N.A, sues the Defendant(s) and states: 1. This is an action to foreclose a mortgage on rea! property located in Clay County, Florida, and by reason thereof the venue for this matter is in Clay County, Florida. 2. Borrower(s) Juan Miguel Treche and Yelina Reyes Diaz a/k/a Yelina Diaz executed and delivered a Promissory Note (“Note”) dated June 30, 2004 and Juan Miguel Treche and Yelina Reyes Diaz a/k/a Yelina Diaz executed a first Mortgage (“Mortgage”) dated June 30, 2004 securing payment of the Note to the payee named thereon, The Mortgage was recorded inOfficial Records Book 2406, at Page 749, of the Public Records of Clay County, Florida, and mortgaged the property described in the mortgage then owned by and in possession of the mortgagor(s). True and correct copies of said Note and Mortgage, are attached hereto as Exhibit "A" and Exhibit "B” respectively. 3. The parties subsequently modified the aforementioned loan documents. A copy of the Loan Modification is attached hereto as Exhibit “C”. 4. The Defendant, Juan Miguel Treche, executed the Loan Modification. 5. Plaintiff, through its counsel, is in physical possession of the original Note, an exact copy of which is attached hereto as Exhibit “A”, and by virtue of being in possession of such original Note, is the holder of that Note. 6. The Mortgage of the Plaintiff is a purchase money mortgage being a lien superior in dignity to any prior or subsequent right, title, claim, lien or interest arising out of mortgagor or the mortgagor's predecessors in interest. 7. Defendant, Juan Miguel Treche, is the current owner of the real property which is the subject of the Mortgage. 8. All conditions precedent to the acceleration of the Note and Mortgage and the filing of the instant foreclosure complaint have been fulfilled. 9. There has been a default in the payment of the amounts due under the Note and Mortgage in that the payment due for January ], 2018 and all subsequent payments have not been made. 10. Plaintiff declares the full amount payable under the Note and Mortgage to be due and payable.11. Defendants who may be held personally liable for a deficiency, if any, are the notemakers, Juan Miguel Treche and Yelina Reyes Diaz a/k/a Yelina Diaz, unless any of such Defendants have been discharged in bankruptcy in which event no deficiency is or will be sought, 12. There is now due and owing the principal sum of $89,444.79 accruing interest pursuant to the terms of the aforementioned loan documents and together with all sums that may be due for taxes, insurance, escrow advances, and expenses and costs of suit including but not limited to filing fees, recording fees, title search and examination fees, fees due for service of process and such other costs as may be allowed by the Court. 13. Plaintiff is obligated to pay plaintiffs attorney a reasonable fee for their services “and seeks an award of attorney’s fees. Plaintiff is entitled to recover its attorneys’ fees under the Note and Mortgage. 14. That the Defendant, Fabiola Mercedes Lezama, might have some claim or demand in the subject property by virtue of spousal homestead interest, if any, and al] other rights, claims, liens, interest, encumbrances and equities, either recorded or unrecorded, if any in the subject real property. The above-described interest of said Defendant(s) in the subject property is inferior to the interest of the Plaintiff in said property. 15. That the Defendant, Unknown Parties in Possession #1, if living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimants might have some claim or demand in the subject real property by virtue of possession, whether by tenancy from the record title holder or mere possession only, however, any such claim or demand is inferior to the lien of the Mortgage.16. That the Defendant, Unknown Parties in Possession #2, if living, and all Unknown Parties claiming by, through, under and against the above named Defendant(s) who are not known to be dead or alive, whether said Unknown Parties may claim an interest as Spouse, Heirs, Devisees, Grantees, or Other Claimants might have some claim or demand in the subject rea] property by virtue of possession, whether by tenancy from the record title holder or mere possession only, however, any such claim or demand is inferior to the lien of the Mortgage. WHEREFORE. plaintiff demands judgment foreclosing the mortgage, for costs and for attorneys’ fees, and respectfully requests that the court enter a Final Judgment: (a) enumerating all amounts the court determines due to Plaintiff pursuant to said Note and Mortgage, (b) ordering the Clerk of the Court to sell the subject property to satisfy the amount due Plaintiff, in whole or in part; (c) adjudging that the right, title and interest of any party claiming by, through, under or against any Defendant named herein be deemed inferior and subordinate to the Plaintiff's Mortgage lien and be forever barred and foreclosed; (d) retaining jurisdiction of the court in this action to make any and all further orders and judgments as may be necessary and proper, including issuance of a writ of possession, to determine the amount of assessments due pursuant to sections 718.116 or 720.3085 and the entry of a deficiency, only when and if such (This space left intentionally blank)deficiency is sought; and, (e) for such other and further relief as the court may deem just and proper. FLA. R. CIV. P. 1.115(¢) VERIFICATION Under penalties of perjury, | declare that | have read the foregoing Complaint to Foreclose Mortgage, and the facts alleged therein are true and correct to the best of my knowledge and belief. Print Name? Awa' Title: Default Supervisor-Foreclosure Date: Bank of America, N.A by Carrington Mortgage Services, LLC as Servicer and Attorney-in-Fact *Pursuant to Fla. R. Jud. Admin. 2.516(b)(1)(A), Plaintiff's counsel hereby designates its primary email address for the purposes of email service as: SFGBocaService@logs.com* SHAPIRO, FISHMAN & GACHE, LLP Attorneys for Plaintiff 2424 North Federal Highway, Ste 360 Boca Raton, Florida 33431 Telephone: (561) 998-6700 Ext, 6672 Fax: (561) 998-6707 For Email Service Only: SFGBocaService@logs.com For all other inquiries: kdulay@logs.com FL BAR # 43811 Pursuant to the Fair Debt Collections Practices Act, you are advised that this office may be deemed a debt collector and any information obtained may be used for that purpose. 18-315584 FCO! CGGExhibit Aa NOTE dune 30, 2004 ATLANTA Georgia [Dated icity [State] 1414 FORBES STREET :GREEN COVE SPRINGS,FL 32043 {Property Address} 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S, $ 100,661.00 (his amount is called "Principal"), plus interest, to the order of the Lender. The Lender is FIDELITY BANK d/b/a FIDELITY BANK MORTGAGE I will make all payments under this Note in the form of cash, check or money order. 1 understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and whe is entitled to receive payments under this Note is cailed the “Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid. | will pay interest at a yearly rate of 6.6250 %. The interest rate required by this Section 2 is the rate | will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payment onthe ]st — day of each month beginning on August 1, 2004 . l will make these payments every month until | 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. I, on duly 1, 2034 , L still owe amounts under this Note, | will pay those amounts in full on that date, which is called the “Maturity Date.” I will make my monthly payments at 3 CORPORATE SQUARE, SUITE 700, ATLANTA, GA 30329 or at a different place if required by the Note Holder. (B) Amount of Monthly Payments My monthly payment will be in the amount of U.S. $644.54 4. BORROWER’S RIGHT TO PREPAY Thave the right to make payments of Principal at any time before they are due. A payment of Principal only is known as @ “Prepayment.” When 1 make a Prepayment, I will tell the Note Holder in writing that | am doing so. | may not designate a payment as a Prepayment if | 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 1 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 f make a partial Prepayment, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. TRECHE JM Zz 0 FLORIDA FIXED RATE NOTE-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT EBD -SNIFLI 1c098) Form 3210 1/04 © VMP MORTGAGE FORMS - i800)521-7231 Page 1 of 3 sy 05/00 testaals 4483§. LOAN CHARGES Ha law. which applies io this ioan 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 wil! be refunded 10 me. The Note Holder may choose to make this refund by reducing the Principal | owe under this Note or by making a direct payment to me, If a refund 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 has not received the full amount of any monthly payment by the end of 15 calendar days after the date it is due, 1 will pay a fate charge to the Note Holder. The amount of the charge will be 5.0000 % of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment. (B) Default Hf} do not pay the full amount of each monthly payment on the date it is due, I will be in default. (C) Notice of Default If f am in default, the Note Holder may send me a written notice telling me that if | do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of Principal which has not been paid and all the interest that } owe on that amount. That date must be at least 30 days after the date on which the notice is mailed 10 me or delivered by other means. (D) No Waiver By Note Holder Even if, at a time when | 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 ] am in default at 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 costs and expenses in enforcing this Note 10 the extent not prohibited by applicable law. Those expenses include, 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 1 give the Noie 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 staied in Section 3(A) above or at a different address if ] am given a notice of that different address. 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 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 under this Note against each person individually or against all of us togettier, This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS T 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 10 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. TRECHE Ji mz 0 Form 3210 1/07 EBD, -BNIFLI 00081 Page 2 of 3 snaa. 10. 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 | make in this Note. That Security Instrument describes how and under what conditions | may be required to make immediate payment in full of all amounts I owe under this Note. Some of these conditions are described as follows: 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 interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Hf Lender exercises this option, 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. 11, DOCUMENTARY TAX The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED oy e } je m4 NOAA flee TELMAE (Seal) Ve fice Oloz (Seal) JUAN MIGUEL TRECHE : “Borrower YELINA REYES DIAZ -Borrower (Seal) (Seal) -Bosrower Borrower {Seal} (Seal) Borrower Borrower (Seat) (Seal) -Borrower Borrower [Sign Original Only} TRECHE JM lz 0 GP -SNIFL) 00081 Page 3 ot 3 Ferm 3210 1/01 eHe ORDER OF. Countrywise Document Custody Services, a division of Treasury Bank, N.A. FD) Ellen Tressler, AVp Igaud ZO HONS INBINY 10FS STEHOIN wap] 2 : ‘yu 3OINARLNNOD OL ae aOOT WN VORA 40 NYE Ae SUNOOAY LNOHLIM “, dOUBUO SHLOLAVd 0r840 Bupbeueyy Reds "y pint ANGaISI Ad a514 somone CPE “OMI 'SNVO? BWoH ‘eqn, YN‘ 5 aq rom eet ence “ESE neo ay SNvOlIL NIDIANES SNVOT 3NOH 31. AYLNNOD 8589084 inoHELy, #0 USCUO BHO Ave OMI SNVOT NOH guano SO SGNO TEL OL avg 5 830) esi" NY uO aHL OL Avd New wiExhibit BCFN # 2004061252, OR BK 2406 Page 749, Recorded 07/21/2004 at 01:38 PM, Clay County, Doc M: $352.45 Int. Tax $201.32 Deputy Clerk HAMPSHIRET Retum To: ‘ J Ficteliv sy Ben S 3 Corporate Square Ste [700 Adlaata GA 30329 This document was prepared by: DONNA WEBB-REAVES {Space Above This Line For Recording Data) MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated dune 30, 2004 , together with all Riders to this document. (B) "Borrower" is JUAN MIGUEL TRECHE and YELINA REYES DIAZ, husband and wife Borrower is the morigagor under this Security Instrument. (C) "Lender" is FIDELITY BANK d/b/a FIDELITY BANK MORTGAGE Lender is a organized and existing under the laws of the state of Georgia TRECHE JM iz 0 FLORIDA.Singie Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01 Z,SIFLI co0s101 page rote Mwosjooo: mie WEY PT VMe MORTGAGE FORMS -OR BK 2406 PG 750 Lender's address is 3 CORPORATE SQUARE, SUITE 700, ATLANTA, GA 30329 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and dated June 30, 2004 The Note states that Borrower owes Lender One Hundred Thousand Six Hundred Sixty One and no/100 Dollars (U.S. $100,661.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than July 1, 2034 . {E) "Property" means the property that is described below under the heading “Transfer of Rights in the Property.” (F)" 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. (G) “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}: (2) adjustable Rate Rider - Condominium Rider (J second Home Rider [1 Balloon Rider Planned Unit Development Rider [_] 1-4 Family Rider (J va Rider [7] Biweekly Payment Rider [J others) {specify} (H) "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. @® "Community Association Dues, Fees, and Assessments" means all dues, fees, assessrnents and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (@) “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. (K) "Escrow Items" means those items that are described in Section 3, (L) "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 10, 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) misrepresentations of, or omissions as to, the value and/or condition of the Property. {M) “Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. 4N) "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. TRECHE JM 7 0 wii, Ye ZB 6IFLI 1008.01 Page 2 of 16 . Form 3010 1/01 ITOR BK 2406 PG 751 (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA” refers to all requirements and restrictions that are imposed in regard to a “federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage Joan” 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 Lender, the following described property located in the County {Type of Recording Jurisdiction) of CLAY [Name of Recording Jurisdiction): Lot 1 Block KX, of the Shands Plat of the North Suburbs of Green Cove Springs, according to plat thereof as recorded in Plat Book 2, page l, of the public records of Clay County, Florida. Parcel ID Number: which currently has the address of 1414 FORBES STREET {Street} GREEN COVE SPRINGS (City), Florida 32043 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 of the foregoing is referred to in this Security Instrument as the "Property.“ TRECHE JM a on VD 0 ZB, SIFU (0008101 Page 3 oF 16 Form 3010 1/01OR BK 2406 PG 752 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real y. UNIFORM COVENANTS. Borrower and Lender covenant and agrec as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late 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 alt subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may 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 arc accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied carlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to cach 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 TRECHE JM a 0 won, 02: GZ, AFL cooH.01 Page 4 of 16 Form 3010 1/01 TTOR BK 2406 PG 753 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 Jate charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds”) to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow lems." 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 10 pay the Funds for any or all 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, shal] 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 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. ‘The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shal! not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest TRECHE JM la 0 waa YD» Zp, 61F1 10008101 Page 8 of 16 Form 3010 1/01 a7OR BK 2406 PG 754 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 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 Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tacking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. TRECHE JM a 0 tnitiats:, y YD Form 3010 1/01 TT ZBP,S1FL) coo051.01 Page 6 of 16OR BK 2406 PG 755 If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shal! become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as morigagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices, If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lendet’s security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applicd in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrament, and (b) any other of Borrower’s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. TRECHE OM a 0 niu: y¥. £2. Form 3010 1/01 TT Zp, BIFLI 0005101 Page 7 of 16OR BK 2406 PG 756 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender ‘otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shalt maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not fimited to, representations concerning Borrower's occupancy of the Property as Borrower’s principal residence. 9. Protection of Lender’s Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legat proceeding that might significantly affect Lender’s interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender’s actions can include, but are not limited 10: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys’ fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or alt actions authorized under this Section 9. rmecHE a 0 san hl Zay,61FL) roves 00 Page 6 ot 16 . Form 3010 1/01 TTOR BK 2406 PG 757 Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting ayment. ” If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10, Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Morigage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost 10 Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Morigage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Morigage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Morigage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. Tf such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed “captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan, Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. TRECHE JM 0 trivia 1 OL Sp oru 100053.01 Page 9 of 16 Form 3010 1/01 vrOR BK 2406 PG 758 (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is ed, such Miscellaneous Proceeds shalt be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender’s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscelfaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Uniess an agreement is made in writing or Applicable Law requires interest