Preview
(7105 (ol^
IN THE CIRCUIT COURT OF THE NINTH JUDICIAL CIRCUFT OF THE STATE OF
FLORIDA, IN AND FOR ORANGE COUNTY
CFVIL DFVISION
AMERICAN HOME MORTGAGE SERVICING, INC.
Plaintiff,
vs.
CASENO. ^ ^ ( ^ - / Z S ^
TODD NEWTON; UNKNOWN SPOUSE OF TODD
NEWTON; LAKEISHA MOSES NEWTON
LAKEISHA D. NEWTON A/K/A
A/K/A
LAKEISHA NEWTON;
m CD
UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON 2.^_ . oo^
A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA S•p.^O
^ ^ 7^
S P.CD
NEWTON; IF LIVING, INCLUDING ANY UNKNOWN ? o 5 ^-^
SPOUSE OF SAID DEFENDANT(S), IF REMARRIED, ^-^j^i
"^^p-
°.w- ""
CDCD
AND IF DECEASED, THE RESPECTIVE UNKNOWN ^
CD'Zi'rZi -^ •yZ-r-\
HEIRS, DEVISEES, GRANTEES, ASSIGNEES, -_^o^ 3 o
CREDTTORS, LIENORS, AND TRUSTEES, AND ALL ? S 5 / '^
OTHER PERSONS CLAIMING BY, THROUGH, UNDER 3 M ^
OR AGAINST THE NAMED DEFENDANT(S);
UNKNOWN TENANT #1; UNKNOWN TENANT #2;
Defendant(s)
/
COMPLAINT
COMES NOW, Plaintiff, AMERICAN HOME MORTGAGE SERVICING, INC.,
and sues Defendant(s), TODD NEWTON; UNKNOWN SPOUSE OF TODD NEWTON;
LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA
NEWTON; UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON A/K/A
LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON; IF LIVING, INCLUDING
ANY UNKNOWN SPOUSE OF SAID DEFENDANT(S), IF REMARRIED, AND IF
DECEASED, THE RESPECTIVE UNKNOWN HEIRS, DEVISEES, GRANTEES,
ASSIGNEES, CREDITORS, LIENORS, AND TRUSTEES, AND ALL OTHER PERSONS
CLAIMING BY, THROUGH, UNDER OR AGAINST THE NAMED DEFENDANT(S);
UNKNOWN TENANT #1; UNKNOWN TENANT #2; and alleges as follows:
COUNTI
1. This is an action in equity to foreclose a purchase money mortgage on real
property located in Orange County, Florida.
2. On Jime 30,2006, Defendant(s), TODD NEWTON, executed and deUvered a
Promissory Note and Defendant(s), TODD NEWTON, LAKEISHA MOSES NEWTON
A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, executed and
deUvered a Mortgage/Security Agreement securing payment to Plaintiffs Assignor
upon the following described real/personal property which he/she/they owned:
LOT 136, SAN JOSE SHORES, ACCORDING TO THE PLAT THEREOF, AS
RECORDED IN PLAT BOOK 4, PAGE 97, OF THE PUBLIC RECORDS OF
ORANGE COUNTY, FLORIDA.
A/K/A
4616 FRISCO CIRCLE
ORLANDO, FL 32808
3. The mortgage as executed and deUvered was recorded in the Official Record
Book 8783 Page 4626, on August 2, 2006, in the PubUc Records of Orange County,
Florida, in the principal amoimt of $177,650.00. Copies of the said Note and Mortgage
are attached hereto as Exhibits "A" and "B." Plaintiff holds the mortgage by virtue of an
Assignment, a copy of which is attached hereto as Exhibit "C."
4. Defendant(s), TODD NEWTON, UNKNOWN SPOUSE OF TODD NEWTON,
LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA
NEWTON, UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON A/K/A
LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, now own the property.
5. Plaintiff owns and holds the note and subject mortgage.
6. Defendant(s), TODD NEWTON, UNKNOWN SPOUSE OF TODD
NEWTON, LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A
LAKEISHA NEWTON, UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON
A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, have defaulted on
the Note and Mortgage attached hereto, by failing to make regvilar payments, the loan
being due for January 1,2008, and any interest of Defendants(s) in the subject property
is therefore inferior and subject to the interest held by the Plaintiff.
7. Defendant(s), TODD NEWTON, UNKNOWN SPOUSE OF TODD NEWTON,
LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA
NEWTON, UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON A/K/A
LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, by virtue of their default on
the Note and Mortgage are indebted to the Plaintiff in an amount equal to $190,726.69,
plus interest, late charges, title search expenses, and other fees and costs pursuant to the
Note and Mortgage.
8. By reason of said default, the Plaintiff has exercised its option and does now
exercise its option to declare the entire principal balance and accrued interest due and
payable and to foreclose said mortgage.
9. For the purpose of coUection and foreclosure, the Plaintiff's Note and
Mortgage have been placed in the hands of the Plaintiff's attomey herein, and the
Plaintiff has thereby incurred an obUgation to pay said attomey a reasonable fee for his
services.
10. In order to protect its security, the Plaintiff may be required to advance and
pay out, during the pendency of this suit, ad valorem taxes, premiums on insurance
required by the mortgage, payments to superior mortgagees, and other necessary costs.
Any such sums so advanced and paid out wiU be due and owing the Plaintiff.
11. In order to ascertain the necessary and proper parties to this suit, it has been
necessary for the Plaintiff to purchase a title search, and the Plaintiff has thereby
incurred an obUgation to pay the cost of said titie search.
12. AU conditions precedent to the acceleration of the mortgage note and to
foreclose the mortgage have been fulfiUed or have occurred.
13. Plaintiff herewith attaches Notice to Defendant(s) under the Fair Debt
CoUection Practices Act as Plaintiff's Exhibit "X."
14. The Defendants, UNKNOWN TENANT #1 and UNKNOWN TENANT #2,
whose real names are unknown, might have some claim or demand to the subject real
property by virtue of possession, whether by tenancy from the records titie holder or
mere possession only; but any said interest is junior, inferior, and subordinate to the Uen
and operation of Plaintiff's mortgage.
WHEREFORE, Plaintiff demands judgment foreclosing the mortgage and, if the
proceeds of the sale are insufficient to pay Plaintiff's claim, a deficiency judgment,
unless the maker(s) of the note have received or appUed for their discharge in
bankruptcy.
COUNT II
1. This is an action to reestablish a Promissory Note pursuant to Section
673.3091.
2. Qn June 30,2006, at Orange Coimty, Florida, Defendant(s), TODD NEWTON,
executed and deUvered a Promissory Note and Defendant(s), TODD NEWTON,
LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA
NEWTON, executed and deUvered to the Plaintiff Assignor a Mortgage/Security
Agreement in favor of the Plaintiff in the principal amount of $177,650.00, a substantial
copy of said documents already being attached as Exhibits "A" and "B."
3. The original Note is lost or destroyed and is not in the custody or control of
Plaintiff.
4. Plaintiff knows of no parties except the Defendants who are interested in the
re-estabUshment of said documents.
5. The Plaintiff, its Assignor, or its servicer, was in possession of the Note and
was entitied to enforce the Note when loss of possession occurred.
6. The loss of possession was not the result of the transfer of the Note or a lawful
seizure.
7. The Plaintiff cannot reasonably obtain possession of the Note because it w^as
lost and its whereabouts cannot be determined.
8. The terms of the Note are as stated on the Note exhibit attached. The Plaintiff
has the right to enforce the instrument by virtue of the Assignment of the Mortgage and
Note to the Plaintiff.
WHEREFORE, Plaintiff prays that this Court enter an order reestablishing the
Note and enter such further reUef as this Court deems just and proper.
Law Offices ofDaniel C. Consuegra
D Daniel C Consuegra/Florida Bar #371300
D Jennifer A. Sesta/Florida Bar #0966339
D Peter E. Lanning/Florida Bar #0562221
D Laura L. WaUcer/Florida Bar #509434
D John P. KopUtz/Florida Bar #044379
D Shannon N. CoUins/Florida Bar #43574
^MeUssa R. Rinaldi/Florida Bar #050252
9204 King Pahn Drive
Tampa, Florida 33619-1328
Tel (813) 915-8660
Fax (813) 915-0559
ADJUSTABLE RATE NOTE
(12-MTA Index - Payment and Rate Caps)
THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY
MONTHLY PAYMENT. BECAUSE MY INTEREST RATE WILL CHANGE MORE FREQUENTLY THAN
MY MONTHLY PAYMENT, AND BECAUSE THERE ARE LIMITATIONS ON MY MONTHLY PAYMENT
INCREASES, THE AMOUNT OF MY MONTHLY PAYMENT MAY NOT FULLY PAY THE INTEREST
THAT ACCRUES. AS A RESULT, THE PRINCIPAL AMOUNT I MUST REPAY COULD BE LARGER
THAN THE AMOUNT I ORIGINALLY BORROWED, BUT NOT MORE THAN 110.000% OF THE
ORIGINAL AMOUNT (OR $ iqg.AT^.nn ). MY INTEREST RATE CAN NEVER EXCEED THE
LIMIT STATED IN THIS NOTE OR ANY RIDER TO THIS NOTE. A BALLOON PAYMENT MAY BE DUE
AT MATURITY.
June 30. 2006 ALTAMONTE SPRINGS Florida
(Cfty) (Slate)
4fi1<; FRT.t;rn CTSCT.P., nrlanrtn, FT, -^PRnR
(Property Address)
1. BORROWER'S PROMISE TO PAY
In return for a loan tiiat I have received, I promise to pay U.S. $177,650.00 plus any amounts
added in accordance with Section 4 (G) below, (this amount is called "Principal"), plus interest, to the order
ofthe
Lender. The Lender is American Brokers Conduit
I will make all payments under this Note in fbrm of cash, check or money order. I
understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who
is entitled to receive payments under this Note is called the "Note Holder".
2. INTEREST
Interest will be charged on unpaid Principal until the liill amount has been paid.
I will pay interest at a yearly
rate of _ ] _ i 2 s _ % until
.Tun*, tn ^onc and the initial monthly payment provided for in Section 3(B)
of this Note willbe based on this rate (the "Initial
Rate"). Commencing juiy i, aons I will pay
interest at a yearly rate of 8.S02 % (the "Subsequent Rate"). Thereafter, the interest rate I will pay may
change in accordance with Section 4 of this Note. The interest rate required by this Section 2 and Section 4 of
this Note is the interest rate I will pay both before and after any deiault described in Section 7(B) of this Note.
Solely for the purpose of computing interest, a monthly payment received by the Note Holder within 30 days
prior or after the date it is due will be deemed to be paid on such due date.
3. PAYMENTS
(A) Time and Place of Payments
I will pay Principal and interest by making payments every month. In this Note, unless otherwise specified
"payment" refersto the Principal and interestpayment only, although other charges such as taxes, insurance
and/or late chaiges may also be payable with the monthly payment.
Page lot" 7
Fl.
Doc » 944752/Iraage: 944752.prn AppS 0001310515 AHM-2030N(n.)(0106)
I will make my monthly payments on the 1st day of each month beginning on August l, 2006
I will make these payments every month until I have paid all ofthe principal and interest and any other charges
described below that I may owe under thisNote. Each monthly payment will be applied to interestbefore
Principal. If,on July l. 2036 ^i still
owe amounts under this Note, I willpay those
amounts in ftill on that date, which is called the "Maturity Date".
I wrillmake my monthly payments at pn Rnv f;»;nn?q, naiiag^ TY T^->e.e,-nr\yti
, or at a different
place if required by the Note Holder.
(B) Amount of My Initial Monthly Payments '
Each of my monthly payments until die firstPayment Change Date will be in the amount of U.S.
$ 602.51 . unless adjusted at an earlier time under Section 4(H) of this Note.
(C) Payment Changes
My monthly payment will be recomputed, according to Sections 4(E)(F)(G)(H) and (I) of this Note, to reflect
changes in the Principal balance and inters rate that I must pay. The Note Holder willdetermine my new
interest rate and the changed amount of my monthly payment in accordance with Section 4 of this Note.
4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
(A) Change Dates
The interest rate I will pay may fiirtherchange on the ^^^ day of ^"9"^^
2006 , and on that day every month thereafter. Each such date on which my interest rate could change
is called a "Change Date."
(B) The Index
On each Change Date, my interestrate will be based on an Index. The "Index" isthe Twelve-Month
Average, determined as set forth below, ofthe annual yields on actively traded United States Treasury Securities
adjusted to a constant maturity of one year as published by the Federal Reserve Board in the Federal Reserve
Statistical Release entitled "Selected Interest Rates (H. 15)" (the "Monthly Yields").
The Twelve-Month Average
is determined by adding together the Monthly Yields for the most recently available twelve months and dividing
by 12.
The most recent Index figure available as the IS days before each interestrate Change Date is called die
"Current Index". Ifthe Index is no longer available, the Note holder will choose a new index which is based upon
comparable infonnation. The Note Holder will give me notice of this choice.
(C) Calculation of Changes
Before each Change Date, the Note Holder will calculate my new interest rate by adding
vr,r^r•anH OOP Thr,„ganHn,.. percentagc poiuts a. ??n % ("Margin") to the
Current Index. Tlie Note Holder will then round the result of this addition to the nearest one-thousandth of one
percentage point (0.001). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new
interest rate until the next Change Date. In the event a new Index is selected, pursuant to paragraph 4(B), a new
Margin will be determined. The new Margin will be the difference between the average ofthe old Index for the
most recent three year period which ends on the last date the Index was available plus the Margin on the last date
the old Index was available and the average ofthe new Index for the most recent tiiree year period which ends on
tiiat date (or if not available fbr
such tiiree year period, fbr such time as it is available).
This difference will be
rounded to the next higher 1/8 of 1 %.
(D) interest Rate Limit
My interest rate will never be greater than Ton anH <;<;n' ThmiQanrihhB
percentage points lO-SSO % ("Cap"), except that following any sale or
transfer of the property which secures repayment of this Note after the firstinterest rateChange Date, the
Page 2 of 7FL
Doc 8 9447S3/Iinage! 944753.pm AppS 0001310S15 AHM.2030N(FL)(0106)
niaximum interest rate will be tiie higher ofthe Cap or S percentage points greater than the interest rate in effect at
the time ofsuch sale or transfer.
(E) Payment Change Dates
Effectiveevery year commencing August i, 2007 ^ and on the same
date each twelfth month thereafter ('Tayment Change Date"), the Note Holder will detennine the amount ofthe
monthly payment that would be sufficient to repay the projedsd principal balance I am expected to owe as ofthe
Payment Change Date in ftill on the Maturity Date at the interest rate that will become effectiveone month prior
to the Payment Change Date in substantially equal payments. The result of this calculation is the new amount of
my montiily payment, subject to Section 4(F) below, and I will make payments in the new amount until the next
Payment Change Date unless my payments are changed eariier under Section 4(H) of this Note.
(F) Monthly Payment Limitations
Unless Section 4(H) and 4(1) below apply, the amounts of my new monthly payment, beginning with a
Payment Change Date, will be limited to 7 '/i% more or less than the amount I have been paying. This payment
cap applies only to the principal and interest payment and does not apply to any escrow payments Lender may
require under the Security Instrument.
(G) Changes in My Unpaid Principal Due to Negative Amortization or Accelerated Amortizatian
Since my initialmonthly payment will be based on the Initial Rate, which may be different than the
Subsequent Rate, my initial monthly payment could be less or greater than the amount ofthe interest portion (the
"InterestPortion") of the monthly principal and interestpayment that would be sufficientto repay the unpaid
Principal I owe in fullon the Maturity Date in substantially equal payments. Additionally, since my payment
amount changes less ftequently than the interest rate and since the monthly payment is subjectto the payment
limitations described in Section 4(F), my monthly payment could be less or greater tiian the amount ofthe Interest
Portion. For each month that the monthly payment is less than the Interest Portion, the Note Holder will subtract
the monthly payment from the amount oftiie Interest Portion and will add tfae difference
to my unpaid Principal,
and interestwill accrue on the amount of this differenceat the current interest rate. For each month that the
monthly payment is greater than tfae Interest Portion, the Note Holder will apply the excess towards a principal
reduction ofthe Note.
(H) Limit on My Unpaid Principal; Increased Monthly Payment
My unpaid Principal can never exceed a maximum amount equal to iio.nno% ofthe principal amount
originally borrowed. In the event my unpaid Principal would otherwise exceed that 110.000% limitation, I
will begin paying a new monthly payment until the next Payment Change Date notwithstanding the 7 '/2% annual
payment increase limitation. The new monthly payment will be an amoum which would be sufficient to repay my
then unpaid Principal in fullon the Maturity Date at the interest rate in effect
one month prior to the payment due
date in substantially equal payments.
(I) Required Full Monthly Payment
On the Five anniversary ofthe due date ofthe first monthly payment, and on that same day every
Five year thereafter,the monthly payment will be adjusted witfaout regard to the payment cap
limitation in Section 4(F).
(J) Notice of Changes
The Note Holder will deliver or mail to me a notice of any changes in the amount of my monthly payment
before the effectivedate of any change. The notice will include information required by law to be given me and
also the title and telephone number of a person who will answer any question I may have regarding the notice.
(K) Failure to Make Adjustments
If for any reason Note Holder fails to make an adjustment to the interest rate or payment amount as described
in this Note, regardless of any notice requirement, I agree tiiat Note Holder may, upon discovery of such failure,
Page 3 of 7Fl.
Doc # 944754/Iniage: 944754.pm AppS 0001310515 AHM-2030N(FI.)(OI06)
tiien make the adjustment as if they had been made on time. I also agree not to hold Note Holder responsible for
any damages to me which may result from Note Holder's failure to make the adjustment and to let the Note
Holder, at its option, apply any excess monies which I may have paid to partial Prepayment of unpaid Principal.
5. BORROWER'S RIGHT TO PREPAY
I have therightto make payments of Principal at anytimebefore they are due. A payment of Principal only
is known as a "Prepayment". When I make a Prepayment, I will tell the Note Holder in writing that 1 am doing
so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the
Note.
I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note
Holder will apply all of my prepayments to reduce the amount of Principal that I owe under this Note. However,
the Note Holder may apply my Prepayment to the accrued and unpaid interest on the Prepayment amount, before
applying my Prepayment to reduce the Principal amount ofthe Note. If I make a partial prepayment, there will be
no changes in the due dates of my monthly payments unless the Note Holder agrees in writing to those changes.
My partial prepayment may have the effect of reducing the amount of my monthly payments, but only after the
first Payment Change Date following my partial Prepayment. However, any reduction due to my partial
Prepayment may be oflset by an interestrateincrease.
6. LOAN CHARGES
If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so tiiat the
interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits,
then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted
limit, and (b) any sums already collected from me which exceeded permitted limits will be refunded to me. The
Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a
direct payment to me. Ifa refimd reduces Principal, the reduction will be treated as a partial Prepayment.
Miscellaneous Fees: I understand that the Note Holder will also chaige a return item charge, in an amount
permitted and otherwise in accordance with Applicable Law in tiie event a payment that I make in connection
with repayment of tfais loan is not honored bytiiefinancialinstitution on which it is drawn. Lender reserves the
right to change the fiee from time totimewithout notice except as may be required by law.
7. BORROWER'S FAaURE TO PAY AS REQUIRED
(A) Late Charges for Overdue Payments
If the Note Holder has not received the fiillamount of any monthly payment by the end of
15 calendar days after the date it is due, I will pay a late chaige to the Note Holder.The
amount ofthe charge will be 5.000 % of my overdue payment of Principal and interest I will pay this late
charge promptiy but only once for each late payment.
(B) Default
Ifl do not pay the full amount of each monthly payment ontiiedate it is due, I will be in default.
(Q Notice of Default
If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue
amount by a certain date, the Note Holder may require me to pay immediately the fiill amount of Principal which
has not been paid and all the interest that I owe on that amount.That date must be at least 10 days after the date
on which the notice is delivered or mailed to me (or, iftiieFederal National Mortgage Association or the Federal
Home Loan Mortgage Corporation buys all or part of Lender'srightsunder the Security Instrument, in which case
the notice will specify a date, not less than 30 daysfiomthe date the notice is given to Bonower).
Page 4 of 7
Fl.
Doc « 944755/Iniage: 944755.pm AppS 0001310515 AHM-2030N(FI.)(0106)
• (D) No Waiver By Note Holder
Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in fullas
described above, the Note Holder wrill still have the right to do so if I am in default at a later time.
(E) Payment of Note Holder's Costs and Expenses
Ifthe Note Holder has required me to pay immediately in full as described above, tfae Note Holder will have
the right to be paid back by me for all of its costs and expenses in enforcing this Note, whether or not a lawsuit is
brought, to the extent not prohibited by Applicable Law. Those expenses include, for example, reasonable
attorneys' fees.
8. GIVING OF NOTICES
Unless Applicable Law requires a difTerent 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 ifl give tfae Note Holder a notice of my difTerent address.
Any notice tiiat must be given to the Note Holder under this Note will be given by mailing it by first class
mail to the Note Holder at the address stated in Section 3(A) above or at a different
address ifl am given a notice
of that different address.
9. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fiilly
and personally obligated to keep ali of the
promises made in this Note, including the promise to pay tfae fill! 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 alsoobligated to keep allof tfae
promises made in thisNote. The Note Holder may enforce its rights under this Note against each person
individually or against all of us together.
This means that any one of us may be required to pay all oftiie amounts
owed under this Note.
10. WAIVERS
1 and any otfaer person who has obligations under this Note waive the rights of presentment and notice of
dishonor. 'Tresentment" means the right to require the Note Holder to demand payment of amounts due. "Notice
of Dishonor" means the right to require the Note Holder to give notice to other persons tfaat amounts due have not
been paid.
11. UNIFORM SECURED NOTE
Tliis Note is a uniform instrument with limited variations in some jurisdictions.In addition to the protections
given to tiie 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 frxim possible losses which might result if
I do not keep the promises which I make in this Note. That Security Instrument describes how and under what
conditions T may be required to make immediate payment in fiill of all amounts I owe under this Note. Some of
those conditions are described as follows:
Transfer ofthe Property or a Beneficial Interest in Borrower.
If allor any part of the Property or any interestin the Property is soldor transferred (or if a
beneficial interest in Bonower issold or transfened and Borrower isnot a natural person) without
Lender's prior written consent. Lender may require immediate payment in fiill of all sums secured by this
Page 5 of 7
' FL
Doc # 9447S6/Image: 944756.pm AppS 0001310515 AHM-2030N(FL)(0106)
Security Instmment. However, this option shall not be exercised by Lender if such exercise is prohibited
by Applicable Law. Lender also shall not exercise this option if:
(a) the request to assume is made after
one year fbllovtringrecordation of the Deed of Trust, (b) Borrower causes to be submitted to Lender
information required by Lender to evaluate the intended transferee as if a new loan were being made to the
transferee; and (c) Lender reasonably determines that Lender's security will not be impaired by the loan
assumption and that the risk of a breach ofany covenant or agreement in this Security Instrument or other
obligations related to the Note or other loan document isacceptable to Lender, (d) Assuming party
executes Assumption Agreement acceptable to Lender at its sole choice and discretion, which Agreement
may include an increase to Cap as set forth below and (e) payment of Assumption Fee if requested by
Lender.
To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to
Lender's consent to the loan assumption and Lender may increase the maximum rate limit to the higher of
the Cap or 3 percentage points greater tfaan the interest rate in effect at the time ofthe transfer. Lender may
also require tfae transferee to sign an assumption agreement tfaat is acceptable to Lender and that obligates
tfae transferee to keep all tfae promises and agreementsmade in the Note and in this Security Instrument.
Borrower will continue to be obligated under the Note and this Security Instrument unless Lender has
entered into a written Assumption Agreement with transferee and formally releases Bonower.
If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice
shall provide a period of not less than 30 days ftom the date the notice is given in accordance with Section
IS within wfaich Borrower must pay all sums secured by this Security Instrument. If Bonower fails to pay
these sums prior to the expiration of tfais
period. Lender may invoke any remedies pennitted by tfais
Security Instrument without ftirther notice or demand on Borrower.
12. MISCELLANEOUS PROVISIONS
In the event tfae Note Holder at any time discovers that this Note or the Security Instrument or any other
document related to this loan, called collectively tiie "Loan Documents," contains an error which was caused by a
clericalor ministerial mistake, calculation error, computer enor, printing error or similar error (collectively
"Enors"), I agree, upon notice from the Note Holder, to reexecute any Loan Documents that are necessar>' to
correct any such Enors and I also agree that I will not hold the Note Holder responsible for any damage to me
which may result from any such Errors.
If any ofthe Loan Documents are lost, stolen, mutilated or destroyed and the Note Holder delivers to me an
indemnification in my favor, signed by the Note Holder, tfaen I will sign and deliver to tfae Note Holder a Loan
Document identical in form and content which will have tfae efiect oftiie original for all purposes.
13. DOCUMENTARY TAX
The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness.
Page 6 of 7
FL
Doc S 944757/Iiiiage:944757.pm AppS 0001310515 AHM-2030N(FL)(0106)
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
.(Seal) _(Seal)
4(2.
TODD NEWTON -Bo«rower -Bonowei
_(Seal) ^(Seal)
.Borrower •Borrower
.(Seal) _(Seal)
-Borrower •Borrower
_(Seal) ^(Seal)
-Bonower -Borrower
Page 7 of 7
FL
Doc S 944758/Iinage: 944758.pm AppS 0001310515 AHM-2030N(H.)(OI06)
Prepayment Fee Note Addendum
This Note Addendum is made this 30th day of June, 2006 ^and
is incorporated into and shall be deemed to amend and supplement the Note made by the
undersigned (the "Borrower") in favor of American Brokers Conduit
(the "Lender") and dated as of even date herewith (the "Note").
This Note Addendum amends the provision in the Note regarding the Borrower's right
to prepay as follows:
BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal before they are due. Any payment of
principal, before itis due, is known as a "prepayment." A prepayment of only part of the
unpaid principal is known as a "partial prepayment." A prepayment ofthe fiill
amount ofthe
unpaid principal is known as a "flillprepayment."
Ifl make a full prepayment, I may be charged a fee as follows:
If Noteholder receives a prepayment on or before the THIRD
anniversary of the date of the Note, the Prepayment Fee shall be equal to
""^o percent ( 2.000 %) of the original loan amount. Thereafter,
prepayment ofthe Note shall be permitted without any Prepayment Fee.
To the extent pennitted by Applicable Law, the Prepayment Fee shall be payable upon
a flillprepayment, voluntary or involuntary, including but not limited to a prepayment
resulting from Noteholder's permitted acceleration of the balance due on the Note.
Notwithstanding the foregoing, nothing herein shall restrict my right to prepay at any time
without penalty accrued but unpaid interest that has been a
Preview
(7105 (ol^ IN THE CIRCUIT COURT OF THE NINTH JUDICIAL CIRCUFT OF THE STATE OF FLORIDA, IN AND FOR ORANGE COUNTY CFVIL DFVISION AMERICAN HOME MORTGAGE SERVICING, INC. Plaintiff, vs. CASENO. ^ ^ ( ^ - / Z S ^ TODD NEWTON; UNKNOWN SPOUSE OF TODD NEWTON; LAKEISHA MOSES NEWTON LAKEISHA D. NEWTON A/K/A A/K/A LAKEISHA NEWTON; m CD UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON 2.^_ . oo^ A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA S•p.^O ^ ^ 7^ S P.CD NEWTON; IF LIVING, INCLUDING ANY UNKNOWN ? o 5 ^-^ SPOUSE OF SAID DEFENDANT(S), IF REMARRIED, ^-^j^i "^^p- °.w- "" CDCD AND IF DECEASED, THE RESPECTIVE UNKNOWN ^ CD'Zi'rZi -^ •yZ-r-\ HEIRS, DEVISEES, GRANTEES, ASSIGNEES, -_^o^ 3 o CREDTTORS, LIENORS, AND TRUSTEES, AND ALL ? S 5 / '^ OTHER PERSONS CLAIMING BY, THROUGH, UNDER 3 M ^ OR AGAINST THE NAMED DEFENDANT(S); UNKNOWN TENANT #1; UNKNOWN TENANT #2; Defendant(s) / COMPLAINT COMES NOW, Plaintiff, AMERICAN HOME MORTGAGE SERVICING, INC., and sues Defendant(s), TODD NEWTON; UNKNOWN SPOUSE OF TODD NEWTON; LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON; UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON; IF LIVING, INCLUDING ANY UNKNOWN SPOUSE OF SAID DEFENDANT(S), IF REMARRIED, AND IF DECEASED, THE RESPECTIVE UNKNOWN HEIRS, DEVISEES, GRANTEES, ASSIGNEES, CREDITORS, LIENORS, AND TRUSTEES, AND ALL OTHER PERSONS CLAIMING BY, THROUGH, UNDER OR AGAINST THE NAMED DEFENDANT(S); UNKNOWN TENANT #1; UNKNOWN TENANT #2; and alleges as follows: COUNTI 1. This is an action in equity to foreclose a purchase money mortgage on real property located in Orange County, Florida. 2. On Jime 30,2006, Defendant(s), TODD NEWTON, executed and deUvered a Promissory Note and Defendant(s), TODD NEWTON, LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, executed and deUvered a Mortgage/Security Agreement securing payment to Plaintiffs Assignor upon the following described real/personal property which he/she/they owned: LOT 136, SAN JOSE SHORES, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 4, PAGE 97, OF THE PUBLIC RECORDS OF ORANGE COUNTY, FLORIDA. A/K/A 4616 FRISCO CIRCLE ORLANDO, FL 32808 3. The mortgage as executed and deUvered was recorded in the Official Record Book 8783 Page 4626, on August 2, 2006, in the PubUc Records of Orange County, Florida, in the principal amoimt of $177,650.00. Copies of the said Note and Mortgage are attached hereto as Exhibits "A" and "B." Plaintiff holds the mortgage by virtue of an Assignment, a copy of which is attached hereto as Exhibit "C." 4. Defendant(s), TODD NEWTON, UNKNOWN SPOUSE OF TODD NEWTON, LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, now own the property. 5. Plaintiff owns and holds the note and subject mortgage. 6. Defendant(s), TODD NEWTON, UNKNOWN SPOUSE OF TODD NEWTON, LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, have defaulted on the Note and Mortgage attached hereto, by failing to make regvilar payments, the loan being due for January 1,2008, and any interest of Defendants(s) in the subject property is therefore inferior and subject to the interest held by the Plaintiff. 7. Defendant(s), TODD NEWTON, UNKNOWN SPOUSE OF TODD NEWTON, LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, UNKNOWN SPOUSE OF LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, by virtue of their default on the Note and Mortgage are indebted to the Plaintiff in an amount equal to $190,726.69, plus interest, late charges, title search expenses, and other fees and costs pursuant to the Note and Mortgage. 8. By reason of said default, the Plaintiff has exercised its option and does now exercise its option to declare the entire principal balance and accrued interest due and payable and to foreclose said mortgage. 9. For the purpose of coUection and foreclosure, the Plaintiff's Note and Mortgage have been placed in the hands of the Plaintiff's attomey herein, and the Plaintiff has thereby incurred an obUgation to pay said attomey a reasonable fee for his services. 10. In order to protect its security, the Plaintiff may be required to advance and pay out, during the pendency of this suit, ad valorem taxes, premiums on insurance required by the mortgage, payments to superior mortgagees, and other necessary costs. Any such sums so advanced and paid out wiU be due and owing the Plaintiff. 11. In order to ascertain the necessary and proper parties to this suit, it has been necessary for the Plaintiff to purchase a title search, and the Plaintiff has thereby incurred an obUgation to pay the cost of said titie search. 12. AU conditions precedent to the acceleration of the mortgage note and to foreclose the mortgage have been fulfiUed or have occurred. 13. Plaintiff herewith attaches Notice to Defendant(s) under the Fair Debt CoUection Practices Act as Plaintiff's Exhibit "X." 14. The Defendants, UNKNOWN TENANT #1 and UNKNOWN TENANT #2, whose real names are unknown, might have some claim or demand to the subject real property by virtue of possession, whether by tenancy from the records titie holder or mere possession only; but any said interest is junior, inferior, and subordinate to the Uen and operation of Plaintiff's mortgage. WHEREFORE, Plaintiff demands judgment foreclosing the mortgage and, if the proceeds of the sale are insufficient to pay Plaintiff's claim, a deficiency judgment, unless the maker(s) of the note have received or appUed for their discharge in bankruptcy. COUNT II 1. This is an action to reestablish a Promissory Note pursuant to Section 673.3091. 2. Qn June 30,2006, at Orange Coimty, Florida, Defendant(s), TODD NEWTON, executed and deUvered a Promissory Note and Defendant(s), TODD NEWTON, LAKEISHA MOSES NEWTON A/K/A LAKEISHA D. NEWTON A/K/A LAKEISHA NEWTON, executed and deUvered to the Plaintiff Assignor a Mortgage/Security Agreement in favor of the Plaintiff in the principal amount of $177,650.00, a substantial copy of said documents already being attached as Exhibits "A" and "B." 3. The original Note is lost or destroyed and is not in the custody or control of Plaintiff. 4. Plaintiff knows of no parties except the Defendants who are interested in the re-estabUshment of said documents. 5. The Plaintiff, its Assignor, or its servicer, was in possession of the Note and was entitied to enforce the Note when loss of possession occurred. 6. The loss of possession was not the result of the transfer of the Note or a lawful seizure. 7. The Plaintiff cannot reasonably obtain possession of the Note because it w^as lost and its whereabouts cannot be determined. 8. The terms of the Note are as stated on the Note exhibit attached. The Plaintiff has the right to enforce the instrument by virtue of the Assignment of the Mortgage and Note to the Plaintiff. WHEREFORE, Plaintiff prays that this Court enter an order reestablishing the Note and enter such further reUef as this Court deems just and proper. Law Offices ofDaniel C. Consuegra D Daniel C Consuegra/Florida Bar #371300 D Jennifer A. Sesta/Florida Bar #0966339 D Peter E. Lanning/Florida Bar #0562221 D Laura L. WaUcer/Florida Bar #509434 D John P. KopUtz/Florida Bar #044379 D Shannon N. CoUins/Florida Bar #43574 ^MeUssa R. Rinaldi/Florida Bar #050252 9204 King Pahn Drive Tampa, Florida 33619-1328 Tel (813) 915-8660 Fax (813) 915-0559 ADJUSTABLE RATE NOTE (12-MTA Index - Payment and Rate Caps) THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY MONTHLY PAYMENT. BECAUSE MY INTEREST RATE WILL CHANGE MORE FREQUENTLY THAN MY MONTHLY PAYMENT, AND BECAUSE THERE ARE LIMITATIONS ON MY MONTHLY PAYMENT INCREASES, THE AMOUNT OF MY MONTHLY PAYMENT MAY NOT FULLY PAY THE INTEREST THAT ACCRUES. AS A RESULT, THE PRINCIPAL AMOUNT I MUST REPAY COULD BE LARGER THAN THE AMOUNT I ORIGINALLY BORROWED, BUT NOT MORE THAN 110.000% OF THE ORIGINAL AMOUNT (OR $ iqg.AT^.nn ). MY INTEREST RATE CAN NEVER EXCEED THE LIMIT STATED IN THIS NOTE OR ANY RIDER TO THIS NOTE. A BALLOON PAYMENT MAY BE DUE AT MATURITY. June 30. 2006 ALTAMONTE SPRINGS Florida (Cfty) (Slate) 4fi1<; FRT.t;rn CTSCT.P., nrlanrtn, FT, -^PRnR (Property Address) 1. BORROWER'S PROMISE TO PAY In return for a loan tiiat I have received, I promise to pay U.S. $177,650.00 plus any amounts added in accordance with Section 4 (G) below, (this amount is called "Principal"), plus interest, to the order ofthe Lender. The Lender is American Brokers Conduit I will make all payments under this Note in fbrm of cash, check or money order. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder". 2. INTEREST Interest will be charged on unpaid Principal until the liill amount has been paid. I will pay interest at a yearly rate of _ ] _ i 2 s _ % until .Tun*, tn ^onc and the initial monthly payment provided for in Section 3(B) of this Note willbe based on this rate (the "Initial Rate"). Commencing juiy i, aons I will pay interest at a yearly rate of 8.S02 % (the "Subsequent Rate"). Thereafter, the interest rate I will pay may change in accordance with Section 4 of this Note. The interest rate required by this Section 2 and Section 4 of this Note is the interest rate I will pay both before and after any deiault described in Section 7(B) of this Note. Solely for the purpose of computing interest, a monthly payment received by the Note Holder within 30 days prior or after the date it is due will be deemed to be paid on such due date. 3. PAYMENTS (A) Time and Place of Payments I will pay Principal and interest by making payments every month. In this Note, unless otherwise specified "payment" refersto the Principal and interestpayment only, although other charges such as taxes, insurance and/or late chaiges may also be payable with the monthly payment. Page lot" 7 Fl. Doc » 944752/Iraage: 944752.prn AppS 0001310515 AHM-2030N(n.)(0106) I will make my monthly payments on the 1st day of each month beginning on August l, 2006 I will make these payments every month until I have paid all ofthe principal and interest and any other charges described below that I may owe under thisNote. Each monthly payment will be applied to interestbefore Principal. If,on July l. 2036 ^i still owe amounts under this Note, I willpay those amounts in ftill on that date, which is called the "Maturity Date". I wrillmake my monthly payments at pn Rnv f;»;nn?q, naiiag^ TY T^->e.e,-nr\yti , or at a different place if required by the Note Holder. (B) Amount of My Initial Monthly Payments ' Each of my monthly payments until die firstPayment Change Date will be in the amount of U.S. $ 602.51 . unless adjusted at an earlier time under Section 4(H) of this Note. (C) Payment Changes My monthly payment will be recomputed, according to Sections 4(E)(F)(G)(H) and (I) of this Note, to reflect changes in the Principal balance and inters rate that I must pay. The Note Holder willdetermine my new interest rate and the changed amount of my monthly payment in accordance with Section 4 of this Note. 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may fiirtherchange on the ^^^ day of ^"9"^^ 2006 , and on that day every month thereafter. Each such date on which my interest rate could change is called a "Change Date." (B) The Index On each Change Date, my interestrate will be based on an Index. The "Index" isthe Twelve-Month Average, determined as set forth below, ofthe annual yields on actively traded United States Treasury Securities adjusted to a constant maturity of one year as published by the Federal Reserve Board in the Federal Reserve Statistical Release entitled "Selected Interest Rates (H. 15)" (the "Monthly Yields"). The Twelve-Month Average is determined by adding together the Monthly Yields for the most recently available twelve months and dividing by 12. The most recent Index figure available as the IS days before each interestrate Change Date is called die "Current Index". Ifthe Index is no longer available, the Note holder will choose a new index which is based upon comparable infonnation. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding vr,r^r•anH OOP Thr,„ganHn,.. percentagc poiuts a. ??n % ("Margin") to the Current Index. Tlie Note Holder will then round the result of this addition to the nearest one-thousandth of one percentage point (0.001). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. In the event a new Index is selected, pursuant to paragraph 4(B), a new Margin will be determined. The new Margin will be the difference between the average ofthe old Index for the most recent three year period which ends on the last date the Index was available plus the Margin on the last date the old Index was available and the average ofthe new Index for the most recent tiiree year period which ends on tiiat date (or if not available fbr such tiiree year period, fbr such time as it is available). This difference will be rounded to the next higher 1/8 of 1 %. (D) interest Rate Limit My interest rate will never be greater than Ton anH <;<;n' ThmiQanrihhB percentage points lO-SSO % ("Cap"), except that following any sale or transfer of the property which secures repayment of this Note after the firstinterest rateChange Date, the Page 2 of 7FL Doc 8 9447S3/Iinage! 944753.pm AppS 0001310S15 AHM.2030N(FL)(0106) niaximum interest rate will be tiie higher ofthe Cap or S percentage points greater than the interest rate in effect at the time ofsuch sale or transfer. (E) Payment Change Dates Effectiveevery year commencing August i, 2007 ^ and on the same date each twelfth month thereafter ('Tayment Change Date"), the Note Holder will detennine the amount ofthe monthly payment that would be sufficient to repay the projedsd principal balance I am expected to owe as ofthe Payment Change Date in ftill on the Maturity Date at the interest rate that will become effectiveone month prior to the Payment Change Date in substantially equal payments. The result of this calculation is the new amount of my montiily payment, subject to Section 4(F) below, and I will make payments in the new amount until the next Payment Change Date unless my payments are changed eariier under Section 4(H) of this Note. (F) Monthly Payment Limitations Unless Section 4(H) and 4(1) below apply, the amounts of my new monthly payment, beginning with a Payment Change Date, will be limited to 7 '/i% more or less than the amount I have been paying. This payment cap applies only to the principal and interest payment and does not apply to any escrow payments Lender may require under the Security Instrument. (G) Changes in My Unpaid Principal Due to Negative Amortization or Accelerated Amortizatian Since my initialmonthly payment will be based on the Initial Rate, which may be different than the Subsequent Rate, my initial monthly payment could be less or greater than the amount ofthe interest portion (the "InterestPortion") of the monthly principal and interestpayment that would be sufficientto repay the unpaid Principal I owe in fullon the Maturity Date in substantially equal payments. Additionally, since my payment amount changes less ftequently than the interest rate and since the monthly payment is subjectto the payment limitations described in Section 4(F), my monthly payment could be less or greater tiian the amount ofthe Interest Portion. For each month that the monthly payment is less than the Interest Portion, the Note Holder will subtract the monthly payment from the amount oftiie Interest Portion and will add tfae difference to my unpaid Principal, and interestwill accrue on the amount of this differenceat the current interest rate. For each month that the monthly payment is greater than tfae Interest Portion, the Note Holder will apply the excess towards a principal reduction ofthe Note. (H) Limit on My Unpaid Principal; Increased Monthly Payment My unpaid Principal can never exceed a maximum amount equal to iio.nno% ofthe principal amount originally borrowed. In the event my unpaid Principal would otherwise exceed that 110.000% limitation, I will begin paying a new monthly payment until the next Payment Change Date notwithstanding the 7 '/2% annual payment increase limitation. The new monthly payment will be an amoum which would be sufficient to repay my then unpaid Principal in fullon the Maturity Date at the interest rate in effect one month prior to the payment due date in substantially equal payments. (I) Required Full Monthly Payment On the Five anniversary ofthe due date ofthe first monthly payment, and on that same day every Five year thereafter,the monthly payment will be adjusted witfaout regard to the payment cap limitation in Section 4(F). (J) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in the amount of my monthly payment before the effectivedate of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. (K) Failure to Make Adjustments If for any reason Note Holder fails to make an adjustment to the interest rate or payment amount as described in this Note, regardless of any notice requirement, I agree tiiat Note Holder may, upon discovery of such failure, Page 3 of 7Fl. Doc # 944754/Iniage: 944754.pm AppS 0001310515 AHM-2030N(FI.)(OI06) tiien make the adjustment as if they had been made on time. I also agree not to hold Note Holder responsible for any damages to me which may result from Note Holder's failure to make the adjustment and to let the Note Holder, at its option, apply any excess monies which I may have paid to partial Prepayment of unpaid Principal. 5. BORROWER'S RIGHT TO PREPAY I have therightto make payments of Principal at anytimebefore they are due. A payment of Principal only is known as a "Prepayment". When I make a Prepayment, I will tell the Note Holder in writing that 1 am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will apply all of my prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the Prepayment amount, before applying my Prepayment to reduce the Principal amount ofthe Note. If I make a partial prepayment, there will be no changes in the due dates of my monthly payments unless the Note Holder agrees in writing to those changes. My partial prepayment may have the effect of reducing the amount of my monthly payments, but only after the first Payment Change Date following my partial Prepayment. However, any reduction due to my partial Prepayment may be oflset by an interestrateincrease. 6. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so tiiat the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit, and (b) any sums already collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me. Ifa refimd reduces Principal, the reduction will be treated as a partial Prepayment. Miscellaneous Fees: I understand that the Note Holder will also chaige a return item charge, in an amount permitted and otherwise in accordance with Applicable Law in tiie event a payment that I make in connection with repayment of tfais loan is not honored bytiiefinancialinstitution on which it is drawn. Lender reserves the right to change the fiee from time totimewithout notice except as may be required by law. 7. BORROWER'S FAaURE TO PAY AS REQUIRED (A) Late Charges for Overdue Payments If the Note Holder has not received the fiillamount of any monthly payment by the end of 15 calendar days after the date it is due, I will pay a late chaige to the Note Holder.The amount ofthe charge will be 5.000 % of my overdue payment of Principal and interest I will pay this late charge promptiy but only once for each late payment. (B) Default Ifl do not pay the full amount of each monthly payment ontiiedate it is due, I will be in default. (Q Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the fiill amount of Principal which has not been paid and all the interest that I owe on that amount.That date must be at least 10 days after the date on which the notice is delivered or mailed to me (or, iftiieFederal National Mortgage Association or the Federal Home Loan Mortgage Corporation buys all or part of Lender'srightsunder the Security Instrument, in which case the notice will specify a date, not less than 30 daysfiomthe date the notice is given to Bonower). Page 4 of 7 Fl. Doc « 944755/Iniage: 944755.pm AppS 0001310515 AHM-2030N(FI.)(0106) • (D) No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in fullas described above, the Note Holder wrill still have the right to do so if I am in default at a later time. (E) Payment of Note Holder's Costs and Expenses Ifthe Note Holder has required me to pay immediately in full as described above, tfae Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note, whether or not a lawsuit is brought, to the extent not prohibited by Applicable Law. Those expenses include, for example, reasonable attorneys' fees. 8. GIVING OF NOTICES Unless Applicable Law requires a difTerent 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 ifl give tfae Note Holder a notice of my difTerent address. Any notice tiiat must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address ifl am given a notice of that different address. 9. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fiilly and personally obligated to keep ali of the promises made in this Note, including the promise to pay tfae fill! 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 alsoobligated to keep allof tfae promises made in thisNote. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all oftiie amounts owed under this Note. 10. WAIVERS 1 and any otfaer person who has obligations under this Note waive the rights of presentment and notice of dishonor. 'Tresentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the right to require the Note Holder to give notice to other persons tfaat amounts due have not been paid. 11. UNIFORM SECURED NOTE Tliis Note is a uniform instrument with limited variations in some jurisdictions.In addition to the protections given to tiie 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 frxim possible losses which might result if I do not keep the promises which I make in this Note. That Security Instrument describes how and under what conditions T may be required to make immediate payment in fiill of all amounts I owe under this Note. Some of those conditions are described as follows: Transfer ofthe Property or a Beneficial Interest in Borrower. If allor any part of the Property or any interestin the Property is soldor transferred (or if a beneficial interest in Bonower issold or transfened and Borrower isnot a natural person) without Lender's prior written consent. Lender may require immediate payment in fiill of all sums secured by this Page 5 of 7 ' FL Doc # 9447S6/Image: 944756.pm AppS 0001310515 AHM-2030N(FL)(0106) Security Instmment. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) the request to assume is made after one year fbllovtringrecordation of the Deed of Trust, (b) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (c) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach ofany covenant or agreement in this Security Instrument or other obligations related to the Note or other loan document isacceptable to Lender, (d) Assuming party executes Assumption Agreement acceptable to Lender at its sole choice and discretion, which Agreement may include an increase to Cap as set forth below and (e) payment of Assumption Fee if requested by Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption and Lender may increase the maximum rate limit to the higher of the Cap or 3 percentage points greater tfaan the interest rate in effect at the time ofthe transfer. Lender may also require tfae transferee to sign an assumption agreement tfaat is acceptable to Lender and that obligates tfae transferee to keep all tfae promises and agreementsmade in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender has entered into a written Assumption Agreement with transferee and formally releases Bonower. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days ftom the date the notice is given in accordance with Section IS within wfaich Borrower must pay all sums secured by this Security Instrument. If Bonower fails to pay these sums prior to the expiration of tfais period. Lender may invoke any remedies pennitted by tfais Security Instrument without ftirther notice or demand on Borrower. 12. MISCELLANEOUS PROVISIONS In the event tfae Note Holder at any time discovers that this Note or the Security Instrument or any other document related to this loan, called collectively tiie "Loan Documents," contains an error which was caused by a clericalor ministerial mistake, calculation error, computer enor, printing error or similar error (collectively "Enors"), I agree, upon notice from the Note Holder, to reexecute any Loan Documents that are necessar>' to correct any such Enors and I also agree that I will not hold the Note Holder responsible for any damage to me which may result from any such Errors. If any ofthe Loan Documents are lost, stolen, mutilated or destroyed and the Note Holder delivers to me an indemnification in my favor, signed by the Note Holder, tfaen I will sign and deliver to tfae Note Holder a Loan Document identical in form and content which will have tfae efiect oftiie original for all purposes. 13. DOCUMENTARY TAX The state documentary tax due on this Note has been paid on the mortgage securing this indebtedness. Page 6 of 7 FL Doc S 944757/Iiiiage:944757.pm AppS 0001310515 AHM-2030N(FL)(0106) WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. .(Seal) _(Seal) 4(2. TODD NEWTON -Bo«rower -Bonowei _(Seal) ^(Seal) .Borrower •Borrower .(Seal) _(Seal) -Borrower •Borrower _(Seal) ^(Seal) -Bonower -Borrower Page 7 of 7 FL Doc S 944758/Iinage: 944758.pm AppS 0001310515 AHM-2030N(H.)(OI06) Prepayment Fee Note Addendum This Note Addendum is made this 30th day of June, 2006 ^and is incorporated into and shall be deemed to amend and supplement the Note made by the undersigned (the "Borrower") in favor of American Brokers Conduit (the "Lender") and dated as of even date herewith (the "Note"). This Note Addendum amends the provision in the Note regarding the Borrower's right to prepay as follows: BORROWER'S RIGHT TO PREPAY I have the right to make payments of principal before they are due. Any payment of principal, before itis due, is known as a "prepayment." A prepayment of only part of the unpaid principal is known as a "partial prepayment." A prepayment ofthe fiill amount ofthe unpaid principal is known as a "flillprepayment." Ifl make a full prepayment, I may be charged a fee as follows: If Noteholder receives a prepayment on or before the THIRD anniversary of the date of the Note, the Prepayment Fee shall be equal to ""^o percent ( 2.000 %) of the original loan amount. Thereafter, prepayment ofthe Note shall be permitted without any Prepayment Fee. To the extent pennitted by Applicable Law, the Prepayment Fee shall be payable upon a flillprepayment, voluntary or involuntary, including but not limited to a prepayment resulting from Noteholder's permitted acceleration of the balance due on the Note. Notwithstanding the foregoing, nothing herein shall restrict my right to prepay at any time without penalty accrued but unpaid interest that has been a