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Case Number: CACE-19-011688 Division: 11
Filing # 90386947 E-Filed 05/31/2019 01:52:52 PM
IN THE CIRCUIT COURT OF THE 17TH
JUDICIAL CIRCUIT, IN AND FOR
BROWARD COUNTY, FLORIDA
CASE NO,
REVERSE MORTGAGE FUNDING LLC,
Plaintiff
vs.
LEOLA B. IRVING AKA LEOLA BRAY IRVING;
UNKNOWN SPOUSE OF LEOLA B. IRVING AKA
LEOLA BRAY IRVING; UNITED STATES OF AMERICA
ACTING ON BEHALF OF THE SECRETARY OF
HOUSING AND URBAN DEVELOPMENT; UNKNOWN
TENANT #1; UNKNOWN TENANT #2,
Defendants.
/
VERIFIED COMPLAINT
.Plaintiff, REVERSE MORTGAGE FUNDING LLC, brings this Complaint against
Defendants named in the above-styled action, and for its cause of action alleges and states the
following:
1 This is an IN REM action to foreclose a mortgage on real property in BROWARD County,
Florida. All references to “Official Records Books” are to those filed in the Public Records of said
county,
2. The Court’s jurisdiction of this mortgage foreclosure is provided by Article V, Section 5 (b),
Florida Constitution, and Section 702.01, Florida Statutes.
COUNT I~ Ft URE OF MORTGAGE
3 There are attached hereto copies of a Home Equity Conversion Loan Agreement (hereinafter
referred to as the “Loan Agreement”), Adjustable Rate Note (Home Equity Conversion) (hereinafter
referred to as the “Note”) and Adjustable Rate Home Equity Conversion Mortgage (hereinafter
referred to as the “Mortgage”; the Note, the Loan Agreement and the Mortgage shall be referred to
hereinafter together as the “Loan”), which were prepared on April 4, 2008 to evidence a just debt.
Firm File # 58341.0147
#** FILED: BROWARD COUNTY, FL BRENDA D. FORMAN, CLERK 05/31/2019 01:52:51 PM.**#*
Said Note is secured by a Mortgage recorded in Official Records Book 45272 at Page 875 as
assigned in Official Records Book 45272, Page 891 and further assigned in Instrument No.
115533951 and further assigned in Instrument No. 115717386 of the Public Records of BROWARD
County, Florida, and encumbers the following described property:
LOT 7, BLOCK 7, LIBERTY PARK ESTATES SECTION 2, ACCORDING TO
THE PLAT THEREOF, RECORDED IN PLAT BOOK 53, PAGE 34, OF THE
PUBLIC RECORDS OF BROWARD COUNTY, FLORIDA.
4. ‘The Plaintiff's Attorney Greenspoon Marder LLP is in physical possession of the Note,
endorsed to Plaintiff, which is the subject of this action and therefore, is the holder of that Note,
through its counsel.
5 Defendant(s), LEOLA B. IRVING AKA LEOLA BRAY IRVING is/are the current owner(s)
of the real property which is the subject of the Mortgage.
6. Pursuant to the loan documents that comprise the Loan, Plaintiff made advances of money to
Defendant(s) LEOLA B. IRVING AKA LEOLA BRAY IRVING (together, the “Borrower”). Under
the terms of the Mortgage the lender may require immediate payment in full of all sums secured by
the Mortgage if the Borrower fails to timely pay taxes and/or insurance for the subject property.
7. The Loan went into default and was called due and payable by HUD on April 19, 2016, due
to non-payment of taxes and/or insurance for the subject property.
8 There is now due, owing and unpaid to the Plaintiff as of the date of the filing of this
Complaint the following amounts under the Loan: unpaid principal balance of $151,509.45, plus
interest, escrow, title search expenses for ascertaining necessary parties to this suit, title exam, filing
fee, attorneys fees and Loan Advances as defined in the Loan Agreement (which may result in an
increase in the unpaid principal balance subsequent to the filing of this action).
9. ‘Plaintiff has retained undersigned counsel to bring forth this matter and is required to pay
them a reasonable fee for their services,
Firm File # 58341.0147
10. Plaintiff declares the full amount payable under the Loan to be due, together with any sums
advanced and paid to protect its security for ad valorem taxes, premiums on insurance required by the
Mortgage and other necessary costs required to be advanced during the pendency of this action. Any
such sum so paid will be due and owing the Plaintiff and are recoverable under the terms of the Note
and Mortgage,
W. All conditions precedent to the maintenance of this action have been performed, excused,
waived or have otherwise occurred,
12, Defendants, UNKNOWN TENANT #1 and UNKNOWN TENANT #2, may claim or have
some interest in or lien or claim upon the property by virtue of an unrecorded lease and/or their status
as tenant in possession of the Property, but any such interest, lien or claim is subject, subordinate and
inferior to the right, title, interest and lien of Plaintiff's mortgage herein sought to be foreclosed.
13, Defendant, UNKNOWN SPOUSE OF LEOLA B. IRVING AKA LEOLA BRAY IRVING,
may claim or have some interest in or lien or claim upon the property by virtue of an unrecorded
lease and/or his/her status as an unknown spouse in possession of the Property, but any such interest,
lien or'claim is subject, subordinate and inferior to the right, title, interest and lien of Plaintiff's
ortgage herein sought to be foreclosed,
14. Defendant UNITED STATES OF AMERICA ACTING ON BEHALF OF THE
SECRETARY OF HOUSING AND URBAN DEVELOPMENT was granted a mortgage recorded on
April 14, 2008 in Official Records Book 45272, Page 883, of the Public Records of BROWARD
County, Florida, which purports to encumber the aforesaid real property, but the lien thereof, if valid,
is junior, inferior and subordinate to the lien of Plaintiff's Mortgage.
WHEREFORE, Plaintiff respectfully requests that this Court enter judgment against
the defendants as follows:
Firm File # 58341.0147
Enumerating all amounts this Court determines due to Plaintiff pursuant to said Note,
Mortgage and Loan Agreement;
Ordering the Clerk of Court to sell the subject property to satisfy the amount due to
Plaintiff, in whole or in part
Adjudging that the right, title and interest of any right 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;
Retaining jurisdiction of this Court in this action to make any and all further orders
and judgments as may be necessary and proper; and
For such other and further relief as this Court may deem just and proper.
FLA. R. CIV. P. 1.115(e) VERIFICATION
Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein are
true and correct to the best of my knowledge and belief.
Reverse Mortgage Fundi LLG by Celink Attorney
in Fact
B:
Print Name:
Title:
Date: 3i/74
Respectfully submitted,
GREENSPOON MARDER LLP
TRADE CENTRE SOUTH, SUITE 700
100 WEST CYPRESS CREEK ROAD
FORT LAUDERDALE, FL 33309
Telephone; (954) 343 6273
Hearing Line: (888) 491-1120
Facsimile: (954) 343 6982
Email 1: karissa.chin-duncan@gmlaw.com
Email 2; gmforeclosure@gmlaw.com
By:
Karissa Chin- incan, Esq.
Florida Bar No, 98472
Firm File # 58341,0147
HOME EQUITY CONVERSION LOAN AGREEMENT
FHA Case Number
am This agreement is made o April 4, 2008 umony LEOLA BRAY IRVING ("Borrower"), Statewide Mortgage
Ouilet, Ine, ("Lender") and the Secrorory of Housing und Urban Development ("Sueretnry"),
Artite t+ Definicions,
ih “Expected Average Morigago Interest Rate" maans the smount indicated on the attached paymestt
pplou (Exhibit 1), (12.0 constant interest rate used to enleulate monthly payments to the Borrower throughout the life
oft
V2 “Loan Advance means all Ruids advanced from or charged 19 Borrowers account under
vonditions'set forth in this Loon Agreement, whetlieror not uctually paid to Borrower,
13. “Loun Documents" means the Note, Second Note, Security Instrument and Second Security
fastrument,
ta “Maximum Claim Amount® means the lesser of the uppriised value of the or the
maximum doltue amount for an area established by the Seeretaty for a one‘femily residence under Section 203(0)(2)
of the National Housing Act (as adjusted where applicable under Section 214 of the National Housing Aci), Both the
uppeaised value and the mximum dottar mount for the area shall be ws of the date the conditlonal connnltment is
issued, Closing costs shall notbe anken lino aceount in determining appraised value,
45, “Noto! means the promissory note signed by Borrower together with this Loan Agreement anid given
to Lender to evidence Borrower's prumise to repay. wih interes, Loon Advancesby Lender or Lenders nssignees,
16. Princip ¢ "Principal Balance” means the sum of alf Loxn Advintecs made ad of a panicular
dowe, including interest und mortgage Insurones premiuins.
7. “Priaeipat Liralt? means the mnowit ladlicated on the atwiched payment plan (Exhibit 1) when this
{Loan Agrwement is executed, and inereusys euch wonth for it oF the Hosus mw x rate equal (o onetwellh of the sum
Principal
of the Mortgage Interest Rate in cffeet at that tine, plus omcoveltth of one-lal? percent per unum. The Borrower,
Limit ig calculated using factors provided by ihe Sceretary, which take intw account the ayy of the youngest
the Moryage Intwrost Raw, und the Maxinnim Clair Amount,
ta, “Prinetpad Restdenco™ means the dwelling where the Borrower maintains his only oF her pennsnent
v plucu of abode, and typical My spends the majority of tho cutendar your, A person ny have one principal
& residence at any one tite, ‘The Property shall be considered to be the Principal Résidence of any Borrawer who is
temporarily or permanently i i ¢ health ere Institution as long aa the Property i the Prinefpal Residence of at lenst one
‘ther Borrower who ig not in a heath care institution.
49, “property means Borrower's propery identified in the Security lastrument,
10, "Sceand Not means the promissory nole signed by Borrower together with Uris Loon Agreement
‘und given to the Seerewry 10 evidence Borrower's promise to repay, with interest Loan Advonces by che Secretary
secured by the Second Security Instrument,
TL, "Second Security Unvteument” mesits the mnonyage; deed of tus, security deed or other securlly
instrument which ls sluned by Borrower together with this LoanAgreement and which secures the Second Note.
1.12, “Sccurlty {nstrument" means the morguge, deed of trust, security deed or other sucurity instrument
which is signedby Borrower togethee with this Loan Agreement and which secures the Note,
Article 2 + Lavin Advunees
Genera Lender agrees 10 make Lou Advanegs under she conditions set forth in dhis Loan
Agecemet in consideration of dw Note and Secarity Instrument yiven-by Borrower on the same date as this Lou
Agreement,
23, {aittal Advances.
listed in the
2.2.1, Loan Advances still be used by L.cuder 19 pay, or reimburse Borrower (or, clostay costsprovided
Schedule of Closing Costs (Exhibit 2) aitnched to and made » pan of this Loon Ayreement, tat
Lonn Advances will only be uxed to pay orighnatian (ees in an amount wat theexcoeding the greater of $2,000 or
2 percent of the mstximum claim amount, nor shall.dhe Leader change Barrower an origination fee in
excess of this amount.
22,2, Loan Advances shall be used by Lentder (o discharge the [lens on the Property listed in the Schedule
of Liens (Bxbibit 2) attached to and mads a part of this Loan Agreement,
Tes ¥ cermmenro Be
ATRY iD CORRECT COPY
‘Loan Ayeertea
”
Jas eS B, NUTTER 8 CO. 4
2.23, Lender shall pay an tuitial Loan Advance to Borrower in the mount Indicated oh the attached
payment plan (Exhibit 1).
2.2.4, Initial advances required by (his Section 2.2. shall be made as soon os such advances are permitted by
ie applicable provisions of 12 CFR Part 226 (Truth in Lending) governing Borrower's right of rescission, bul
not before that time,
23, Set Asides,
23.1, Ainounts set aside Com the Prineipul Limit shall be considered Loan Advanees to the extent actually
disbursed or earned by Lender.
2.3.2. Lender shall initially set aside from the Principal Limit the amount indicated on the attached payment
plan (Exhibit 1) for repairs to be made in vecordanice with p Repair Rider attached to and made a part of this
Loan Agreameat (Gxhibit 3)
2.3.3, Londor shall initially set aside from the Principal Limit the amount indicated on the attached payment
pinn (Exhibit 1) t0 be applied to paymenls due for first year property charges consisting of taxes, hazard
insurance, ground rents and assessments.
2.3.4. Lender shall initially sot aside ftom tho Principal Limit the amtount indieated on the attached payment
plan (Exhibit 1) to be applied to at due for a fixed monthly charge for servicing activities of Lender or
‘its servicer, Such servicing acti sate necessory (0 protect (enuder's interest in the Property. A servicing
fee set aside, if any, is not availuble to the Borrower for any purpose, except to pay for loan servicing,
ary id Fe Borrower sliol! pay to Lender ceasonable and customary charges and fees as
penned der 24 CFR 206.207(4), Such amounts shall be considered Loun Advances when actually disbursed by
Lender.
25, ‘Monthly Paymenty,
25.1, Coun Advances pid alrectly to the Borrower shall be made in equal monthly payments if requested
by Borrower.
2.5.2, Momtly payments shall be eulcutoted for either the term payment plan or the tenure payment plan, as
requested! by Borrower, :
2.5.8, Monthly payments under the tern payment pton are made o nly(v)during a ters chosen by the Borrower
and (vi) shall be equal to or less than
‘and shuil be caleulated so that the sum of (i) or (fi) added to (iti), Gv)s
the Prinoipal Limit a the end of the term:
4) Initial Advances under Section 2.2., plus any initial servicing fee set aside under Subsection 2.3.4., or
Gi) ‘The Principat Balonco at the time of o change in payments under Sections 2.8, and 2.9. plus any
anc
‘remaining servicing (ee set aside under Subsection 2.3.4,,
«aii ‘The portion of the Principal Limit set aside us @ line of credit under Section 2.7., tnoluding any set
asides for repairs (Subsection 2.3.2,) an wd Tirst your propesty charges (Subsection 2.3:3.), ond
w ‘All monthly payments due through the payment term, including: funds withheld for payment of
property charges under Suction 2.10., a0
wy All mortgage insurance promiuns, ‘or monthly charges due to tle Secretary in lieu of mortgage
Jusurance premiums, which aré duc tsrough the payment term ( (Subsection 2.13,), and
wi) AA interest through the payment tem, The Expected Avernge Morgage Interest Rete shall bo used
{for this purpose.
2.54. Monthly payments under the tent ire payment plan shall be calculsted us in Subsection 2.5.3, as if
there were a payment term with the num! ber of months in thy term equal (0 thetho
4 sumof 100 minus the age of
loan becomes duc and payable
the youngest Borrower multiplied by 12, but payments shail continue intil
as provided in the Loan Documents.
2.8.8, Monthly payments shall be poid to Borrower on the first businoss day of a month,
2.8.6, If Borrower hus requosted monthly payments, payments sholl be indicated on the anached2.9,payment
plan (Exhibie 1). The payment plan may be changed by Borrower as provided in Sections 2.8. and
2.6. Lalno of Credit Without Monthly Payuvents.
Laan Agreawsnt
26.1. Bonower ean request Loan Advances under’ Tine of credit payment plan in amounts ond st times
detennined by the Borrower, if the Principal Balmice of the toon after the Loan Advance is made iy less than
‘or equal to the applicable Principal Limit, oxcluding any portion of the Principal Limit set aside under
Sections 2.3.2, or 2.3, ‘The fine of credit amount inerenses at the same race as the total Principal Limit
increases under Section 1.7,
2.6.2, of credit payments shall be pald to Borrower within five (S) business days after the Lender hax
Line
received a written request for paymentby Borrawer,
2.6.3. Lender may specify a forin for fine of eredit payment requests.
ibd Lender shall provide Borrower with « statement of the account every lime a line of credit payment is
‘made, ‘The staternent shall inefude dhe current intorest rate, the previous Principal Balance, the mount Litof
current Loan Advance, the current Principal Balance after the Loan Advunce, and tho current Principal
7, i c jh ly Pav nt
21, Borrower may receive monthly payments under elther a term of tenure pay:ment plan combined with
aline of credit, as inclicated on the attached payment plan (Exhibit 1),
2.7.2, Subsvetions 2.6.2, 2.6.3 and 2.6.4 apply to u fine of credit combined with term or tenure payments,
2.73. If Borrower combines a line of credit th a rerm oF tenure payment plan, te Principal Limit is
divided info; (n) an amount for the ting of credit puymeuts, including repair and propenty charge sotvasides,
{b).an amount for monthly payments which shall be culoulated under Subsection 2.5.3, or 2.5.4. and (c) an
2.3.4, Amouuts designated for
famouol for a servicing fee set aside, if required by Lender under Subsection
fine of credit payments and unonthly payments increase independently at the same rate as che total Principal
Limit increases uncler Section 1.7. Borrower can request Loan Advances in amounts and at times determined
by Borrower, if the requested amount is less thon or equal to the outstanding
difference between (a) the Principal Limit
applicable co the line ‘of credit set nsido and (b) the portion ofthe Principal Balance attributable to
mortgage insuranco promium or moithly charge
draws on the line of credit, including acerued isiterest and
and
due to the Secretary, but excluding any portion of the Principal Limit set aside ‘under Subsections 2.3.2,
2.34.
274. A Borower receiving monthly payments in combination wlth a line of credit may prepay the
‘outstanding mortgage balance in accordance with the terms ofthe Note, \
2B a 1 " zone
2.8.1, Whenover the Principal Balance of the toon is less than the Principal Limit, Barrowor may change
{fom any payment plan sllowuble under this Loan Agreement to another.
made after n change fi payment plan, Lunder shall
2.8.2. If Borrower requests that mouthly payments be Subsections
recalculate future monthly paynwents in accordance with 2.5.3, of 2.5.4,
2.8.3. Lender may charge a fee nol (9 exceed the amount determined by the Secretary, whenever any
payments are recalculated,
2.8.4. Loan Advonees undor a new payment plan shall be paid to Borrower in the same manner and within
the time period required under Sectlons 2,5., 2.6. or 2.7,
2.8.5, CChuuges in the payment plan ‘must be acknowledged by Borrower by signing a for containing the
same information as the attached payient 1 plan (Exhibit 1), Lender shall provide a copy of the completed
form to Borrower,
29 Due i os
29,1. {Finiial repairs after closing, made in acvordance with the Repuir Rider, are completed without using
ull of the repair set aside, Lender shall inform ‘Borrower of the completion and ihe amount then availuble (0
the Borrower to be drawn under a line of credit
2.9.2, I initial repairs after closing, made in accordance with the Repair Rider, cannot bemadefullyin funded from
the repair set osido, any additional Loan Advances needed to complete repairs shall be tho ntanner
provided under Section 2,16,
2.9.3, Winitial repoirs are not completod when nequived by the Repair Rider, Borrower shall not request and
Lender shall not make any further paymetss, except as needed to pay for repairs required by theLoanRepair Rider
and mandatory Loan Advances under Section 4.5. In order to complete the required repaits,2.16. Advances
shall be made first front the repair set aside, and then in the manner provided under Section
Lawn Apres
230, Payment
of Property Charges.
2.10.1, Borrower bas elected to require Lencler to use Loan Advances to pay property charges consisting of
taxes, hazard insurance premiums, ground rents and special assessments if Indicatedon the attachedpayment
plan (Exhibit 1). Borrower muy change this election by wotilying Lender and at that time Lender shall pay to
Borrower any amounts withbeld from the Loan Advances (0 pay property charges,
2.10.2. Tf Borrower bas made the election under Subsection 2.10.1, and Borrower is re ving riomly
payments, Lender shall withhold amounts from each monthly payment and use the amounts withheld to meke
timely payments of property charges, The amounts withheld shall be calculated as provided in Subsection
2.10.3. Amounts withheld from monthly payments shall not be trented as Loan Advances and shall not bear
jmterest except to the extent actually disbursed by Lender,
2.10.3. Lender shall withhold from each monthly payment ah amount to pay (a) taxes and special
assessments levied or to be levied ayuinst the Property, (b) lensebold paymentsby. the or ground rents on the
Property, and (c) premiums for fire, flood and other hazard insurance coquired Security Instrument,
Each monthly withholding for items (a), (be) and (¢) shall equal one-twelfth of the annual amounts, ws
reasonably estimated by Lender. TI The Full annul I axnounst for each Item shall be poid by Lender before am item
would become delinquent, Lender shall add the amounts for), items (a), (b) and (¢) to the Principal Balance
when paid. Ifat any time the withholding for item (a), oF (c)add exceeds the amount of actual property
itto the Principal Balunce, TF the total
charges, Lendor shall pay the excess withholding to Borrower and
of the withholding for item (6), (0), or (c) is insufficient to pay the item when due, the amount necessary to
anake up the deticiency on or before the date tI iho item becomes due shull be paid as a Loan Advance in the
manner provided under Section 2.16.
2.10.4, If Borrower has mace the election under Subsection 2.10.1. and Borrower is not receiving monthly
payments, Lender shall make Loan Advances under the line of credit payment plan as needed to make timely
payments of property charges, ‘provided that oo sucls Loan Advance shill exceed the amount permitted by
Sectlon 2.6.1.
2.408, If Borrower fils to pay the property charges in a tim nely manner, and bas not elected to have Lender
make the payments, Lender shall pay the p roperty cliaeges as a Loan Advance 1s required under Section 2.16,
may establish procedures to pay the property charges from
Ifa patiern of missed payments occurs, Le cenvder
Rorrowur’s finds as if Borrower o ected to lve Lender pay the property charges.
2.10.6. Lender shall. immediately notify ‘ony Borrower who tias made the clection under Subsection 2.10.1
whenever Lender determines that amounts available front monthly payments or Tite of eredit paymuents
wil
‘be inguffictent to pay property charges.
2d, aeons Cc (le rok . It insurance ar condemnation proceeds are paid to Lender, the
Prineipal Balance shall be reduced by the amount of the proceeds uot applia 1d‘theto Principat
restoration oF ie of the damaged
sty and the available loan funds shall be recaleul ited, AU the same timo,
Limit also shall be reduced
by the amount of the proceeds applied to reduce the Prinipal Balance,
2d Anterest
2.12.4. Intorest shnllbe calculated as provided in the Loren Documents,
end of each
4412.2, Interest shall scene daily and be adkled to the Prinefpa} Balanee as a Loan Advance at the
month,
23. fort uranes i
a the Security Instrument is held
2.13.1, Monthly MIP shall be calontated as provi ided in 24 CER Part 206. ‘heIf Second Security Instrument, «
by the Secrewey oF if the Secretary makes Lonn Advances secured by
monthly cbaege shalt bbe duc to the Secretary and shatl bo calculated in the same manner as MIP.
2413.2. The full umount of monthly MIP or monthly charge, including any portion of the MIP retainedby @
Lender under 24 CFR 206,109, shall be considered! to be 8 Loan Advance to Borrower on tho later of tho first
day of the month or tha day Lender pnys the MIP tt ihe Secretary, if any fullMIPalteris duethe tofirstthe daySecretary. In the
Note is prepatd in
‘event that the Note bacomes duc and payable or the Balance of the month,
Lender may add the accrued MIP to the Principal or the Secretary anny nd the ‘scerued monthly
charge to the Principal Balance.
2M, ? |. For purposes of" Seetion "Borrawor" shall not include any person whobas signed this
nb Agroement but iL who has a Principal Residence different from the Proparty, Only » Borrower a right to
by cither electronic funds transfer to
receive Loan Advances. Borrowers shall chao: se 10 receive Lonn Advancesdesignated
bank necount designated by all Borrowers or by-check mailed to an addressfor the benefitby oftall theBorrowers, except whore
Borrowers, Borrowers
all Borrowers agree that payment should be made direetly to0 third party
thay change the manner of payment by notifying Lendar,
(oun Agreement
215, Protee et
2.18.1. If Borrower vacates or abandons the Property, or if Borrower is in default under the Security
Insirument, then Lender may moke reasonable expenditures to protect and preserve the Property and these
expenditures will be considered Loan Advances as required under Section 2.16,
2.15.2. If Borrower falls to pay governmentn) or munleipal charges, fines or impositions that are not included
in Section 2.10. or if there is a legal proceeding that may significantly affect Lenders rights in the Propenty
{such as a proceeding in bankruptcy, far condemnation or to enforce Inws or regulations), then Lendar may do
and pay whalever is necessary to protect the value of the Property and Lenders rights In the Property. ‘These
expenditures will be considered Loan Advancesas required under Section 2.16.
216, ad Py Loan Advances made pursuant to Sections 2.4., 2.9.2., 2.9.3., 2.10.3., 2.10.5, and
2.15, shall be made from a line of credit under Section 2,6. or 2.7. to tho extent possible, fue line of credit sufficient
{0 make die Loan Advances exists, ony futuro monthly payments most be recalculated in accordance with Subsection
2.5.3, or 2.5.4, t0 create u line of credit sufficient to make the Loan Advances.
Article3 - Latte Charge
3.1. Amount Due, Lender shell pay a late charge to the Borrower for any lute payment. If Lender docs
not mail oF olectronically transfer a scheduled monthly payment to Borrower ¢ on the first business day of the mouth or
mmuil or olectronically transfer a line of eredit puymtent ta Borrower wit five (5) business days of the date Lender
received the request, tho fave chaege shall be ten percent (10%) of the entire amount that should have been paid to the
Borrower for that munth or as a result of that request i, For ench additional day that Lender fails to make payment,
Lender shall pay hterest on the late payment at the interest rate stated in the Loan Docunients.shall1f bethe used.
Loan Documents
In no event
provide for an adjustable interest rato, the mie in el {fect when the late charge first accrues
shall the total late charge ‘and Interest execed five hundved dollars ($500.00). Any tate-charge shall be paid from
Lender's funds and shall not be added to the wupaid Principal Balance,
32, Waiver, The Sectotary may waive a lato churge where the Sceretary determines tributed that the Inte
beyond Lencler’s control and thatno wet or omission of Lender cont to the
paym nent resulted from circumstances Borrower that a wuiver of late charge has
Tate payment. At the tim 1¢ Lender requests a waiver, Lenderwillshallbe inform
sent to Borrower If the waiver is denied. if the
been requested from the Secretarya and that the late charge Inte charge and interest that accrued from the dale the
Secretary denies the waiver, Lender shall pay to Borrower the
payment was late untl the date the waiver was requested,
Article 4 - Termination of Lender's Obligation to Mule Luaa Advances
4k ‘Loan Dus and Payable, Lender shall have no obligation to make Loan Advances if Lender has
votified Borrower that it mediate payment in full to Lender is required under one or more of the Loan Documents
unless and until the notice is rescluded by Lender.
42. 1 x. Tete Security Instriment has been assigned to the Secrotary or the
Instrument, Lender
Secretary notifies Lend jor and Borrower that Loam Advances are secured by the Second SecuritySecretary accepts later
shall have no further obligation to make Lonn Advances. under Loan Agreement, untess the
muy
reimbursement by the Lender (or all Loan Advances mac de, eamied or disbursed by the Secretary. The Secretary
payments and chonges in paymentry andplanscompletion
establish procedures for handling requeststhe forSecurity ducing the interval between
of the ussignmant.
Lender's notification of intent to assign Iistrument to the Secreta
Bonwer shall be Informed of such proceduresby Lender and/orthe Secretary, and Borrower shall comply with such
procydures.
43. L i 1 eq. Lender shall have no obligation to make futher Loan Advances if theis
Lender or the Secretary determnines that the len siatns of dhe Se jourity Instrument or the Second Security Instrument
Jeopox ined under State laws ns described in Paragraph 12(8) of the Security Insument ‘or Second Security
Instrument an nd the lien statusiy wot extended in aecareance with Paragraph 12a).
v, Lender shall have no obligation to minke further Loan Advances on or following the
dato has phon fr Bak ruptey of Borrower is filbd.
43. landal ‘Notwithstanding anything in Sections 4.1. through 4.4., all Loon
Advances under Sections 2.10. (property charges), 2.12. (Interest), 2.13, (MIP or monthly charge), 2.15 (protection of
Property) or 2.3.4. (servicing fee) shall be considored mandatory Loan Advances by Lender,
fn Ful. Lender shall not make Loan Advances if Borrower has paid the Note in full (or
the Second Note ifthe Set retary has assumed the Lender's rights and obligations under Article 5).
‘osmaAyreement
Article 5 - HUD Obligation
If the Lender has no tiurther obligation to make payinents to Borrower because af Section 42., the Secretary
shall assume the rights and obligations of Lender under this Loan Agreement, oxcept the Secretary shell not assume
any obligation of paying flaod, fire and other hzacd insurance from Loan Advances, If the Seeretncy makes Loan
Advonces to Borrower under the Second Security Instrument, the portion of the Principal Limit available for Loun
Advances shall be tho difference betwoen the curyent Principal Limit and the combined Principal Balances on the
‘Scourity Instrument less avcrued interest and the Second Security Instrument,
Article 6 - Miscetlaneons
iver, Any forbeacunce by Lender
in exercising any right or comedy shall not
bea waiver of or reclode textes of ‘ony right or remedy,
ws Bounds: in i + The covenauts and
agreemenisof this Loan Agreement shall bind and benefit tle suvoessors and assigns of Lender. An assignment made
in accordance with the regulations of the Secretary shall fully relicve the Lender of Its obligations under this: Loan
Agreement, Borrower may not assign any rights or obligations under this Lon Agreement, Borrower's covenants
‘and agreements shall be joint and several,
ess, Any notico to Borrower provided for in this Loan Agrocmont shall be given by delivering it
or by mailing iby fi itst class mail unless applicable {aw requires use of another method, The ndtico shall be directed
to the property acldvess shown in the Security Instrument or any other address all Borrowers jointly designate. Any
notice (o Lender shall be given by first class mail o Lender's address stated herein or any address Lender designates
by notice to Borrower, Any notice to the Secretary shall be given by first class mail to the HUD Field Office with
jJuvisdietion over the Property or any ofier place dusignated by the Secrviary. Any notice providedas for in this Loan
‘Agreement shall be deemed to have been given to Borrower, Lenderor the Secretary when given provided in this
Section.
64. Governing Laws Soverabtllty, This Loun Agreement shall ‘govemeil by Federal law and the law
oF the jurisdiction in which the Prope erly 1s located, Jn dhe event tho! any provision or elouse of this Loan Agresment
conflicts with applicable law, such conflict shall not afliet other provisto ins of this Loan Agreement which can bo
given effect without the conflicting provision, ‘To this end the provisions of this Loun Agreement ara declared to be
severable,
1s. Lender, Borrower and the Seccetary shall each receive one original executed copy of this
Loan Agroement when signed by the Secretary.
6.6. I 2 com. . This Loan Agecement shill bind Lender and Borrower when
both Lender and Borrower have signed, Wiielher or ot the Secretury signs this Loan Agreement. This Loan
Agreement shull bind the Secretary only when and if he Secrovary as signed and a Morigage Insurance Certificate is
issued for the Security Instrument.
wee
Y SIGNING BELLOW the purties uovept and agree co the torms contained in this Loan Agreement and the exhibits,
& LAL’ (SEAL)
THOLA BRAY IRVINNeperrowen
Oo
Stotewide Mortgnge Outlet, tne.
(SEAL)
Pied a
Ni fame: Bly Shea
Title: Vice Presidont
Secretary of Housing and Urban Development
——_— (SEAL)
Pied Nae!
le:
aan Ageenient
IN THE CIRCUIT COURT OF T! HE 17TH JUDICIAL CIRCUIT, IN AND FOR BROWARD
COUNTY, FLORIDA
CIVIL DIVISION
REVERSE MORTGAGE FUNDING LLC,
Plaintiff CASE NO.
vs.
LEOLA B, IRVING AKA LEOLA BRAY
IRVING, et. al.,
Defendant(s).
CERTIFICATION OF NOTE POSSESSION
The undersigned hereby certifies:
1 That plaintiff is in possession of the original promissory note upon which this action is
brought.
2. The location of the original promissory note is: with Plaintiffs Attorney, Greenspoon
Marder LLP, 100 W. Cypress Creek Road, Suite 700, Fort Lauderdale, Florida 33309.
3 ‘The name and title of the person giving the certification is: Karissa Chin-Duncan, Esq.
4 The name of the person who personally verified such possession is: Karissa _Chin-
Duncan, Esa.
5 The : time and date on which possession was verified were:
430-19 ak 12:07 pun
6. Correct copies of the note (and, if applicable, all endorsements, transfers, allonges, or
assignments of the note) are attached to this certification.
7. I give this statement based on my personal knowledge.
Under penalties of perjury, I declare that I have read the foregoing Certification of Possession of Original
Note and that the facts stated in it are true.
Executed on:_ 5-30-14
GREENSPOON MARDER LLP
TRADE CENTRE SOUTH, SUITE 700
100 WEST CYPRESS CREEK ROAD
FORT LAUDERDALE, FL 33309
Telephone; (954) 343 6273
Hearing Line: (888) 491-1120
Facsimile: (954) 343 6982
Email Karissa,Chin-Duncan@gmlaw.com
Email 2: gmforeclosure@gmlaw.com
By:
Karissa Chin-Duncan, Esq.
Florida Bar No. 98472
Firm File # 58341.0147
ADJUSTABLE RATE NOTE.
(HOME EQUITY CONVERSION)
STATE OF FLORIDA
April 4, 2008,
UROPERTY ADDRESS: FHA Cose Nurnber: 095-0578520-952
‘Loup Numbor: 37036
649 NW 21ST ST MIN Number:
POMPANO BEACH, FLORIDA 33060
HROWARD COUNTY
1, DEVINITIONS
"Borrower" mouns each person signing at the end of this Not. “Lendor" means Statewide Mortgage Outlet, Inc, ond ity
successors und assigns. "Secretary means the Secrowry of Housing wid Urlan Development or his or her authorized
representatives,
2, BORROWER'S PROMISE TO PAY; INTEREST
In return for anvounts to be advanced by Lendor up t0 ¢ maxinum printipal omount of Two Hundred Sixty-Sevon Thousand
‘umd 00/100 Dullnrs ($247,000.00), (0 or for the benefit of Borwwer under the terms of a Ftome Equi Conversion Loan
‘Agreement dated April 4, 2008 ("Loan Agreoment"), Borrower promises to pay to (he order of Lender a principal amount equal 10
the sum ofall Loan Advances made unor thy Loon Agreement with interest, All omoonis advanced by Londur, phos interest, if
‘nol puid earlier, are die and payable on JANUARY 16, 2089. Interwst will bo charged on wopald principal at the rale of Three
‘and 1/10 percent (3.100%) per year until the full amount of principal hos been paid. ‘The intorest rate tay change in accordance
\with Paragraph $ of this Nota, At the end of each month, accrued interest shall be added to und made port of the principal balanae
vasa Loan Advance and shall cewise thereafter bear interest,
3, PROMISE TO PAY SECURED
Borrowers promise to pay is socured by u morgage, deod of trust or siilur security instrument that is dated the sto dito as this
Note aud valled tho *Securty Instrunent” ‘The Sccurity fastrument protects the Lender from losses which might rosull IF
Borrower defaults under this Note.
MANNER OF PAYMENT
@)Time
Borrower shall pay all outstsading prineipat sad accrued interest to Lender upon reccipt of « notice by Loncler requiring immediate
paymont i (ull, as provided in Parogenph 7 ofthis Note.
{B) Pluew
Payment stall be made att 515N, University Drive, Sulte 216, Coral Springs, Florida 3307) or any such other place as Lender
anay designate in writing by notiee to Borrower.
{C) Limitation of L.tabtlity
only through site ofthe Propeny
Borawer shall have no personal lability for payment of the debt. fender shall enforeo thethedebtBorrower
covered by the Security Instrument ("Property"), If this Note is essigned to the Secretary, indobtodness, shall not be linble for any
itference between the moriguge insurance benofits pald (o Lender und the outstinding including accrued interest,
cowed by Borrower atthe tino of the assignment,
& INTEREST RATE CHANGES
(A) Change Date
‘The inlorest rate may change on JUNE 1, 2008 and on _— that duy of each succcuding year, or 2 the first day of each
neceeding month. “Change Date" muans cach date on which the interest mic could changs,
(B) ‘The index
Boyinning with tho first Change Date, the Intorest sate will be baged ou on index, "Indus" means the weekly avernga yield on
United States Treasury Securities adjusted (wn conslant mmturity of ane year, theas ‘Cange
aude available by the Federal Resarve Bowrd.,
Duty, I the Index (as defined above) Is
“Current Index" manns the most recent Index figure available 30 days before oF
tno longor available, Lender will use as a new Index eay indox proseribed by the Secretary. Lender wil glva Borrower notice
the now Index,
(€) Calculation oflnterest Rate Changes
percentage points to the Current
Before each Change Dave, Lender will calculate a new interest rite by adding a margin of new1.50 interest
{nndex. Subjectto tho livits stted in Pueayraph 5(0) ofthis Note, thie amount will bo the rate until the waxt Change
Fie Nowe
@) Limits o0 tnterest Rute Changes
~ ‘Aural: ‘The Interest rule will nover increase or decrease by more than two pecountage polnts (2.0%) on uny
single Change Date, The interest rote will never be more than five percuntagy puinis (5.0%) highor or lower
‘hun the initio! interest rate sinted fo Paragraph 2 of this Note,
x ‘Monthy: The interost rate will never increase above 13.100%,
(B) Nutlee of Changes
Lender will give notice to Borrowerof any efuanye in tt
Preview
Case Number: CACE-19-011688 Division: 11 Filing # 90386947 E-Filed 05/31/2019 01:52:52 PM IN THE CIRCUIT COURT OF THE 17TH JUDICIAL CIRCUIT, IN AND FOR BROWARD COUNTY, FLORIDA CASE NO, REVERSE MORTGAGE FUNDING LLC, Plaintiff vs. LEOLA B. IRVING AKA LEOLA BRAY IRVING; UNKNOWN SPOUSE OF LEOLA B. IRVING AKA LEOLA BRAY IRVING; UNITED STATES OF AMERICA ACTING ON BEHALF OF THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT; UNKNOWN TENANT #1; UNKNOWN TENANT #2, Defendants. / VERIFIED COMPLAINT .Plaintiff, REVERSE MORTGAGE FUNDING LLC, brings this Complaint against Defendants named in the above-styled action, and for its cause of action alleges and states the following: 1 This is an IN REM action to foreclose a mortgage on real property in BROWARD County, Florida. All references to “Official Records Books” are to those filed in the Public Records of said county, 2. The Court’s jurisdiction of this mortgage foreclosure is provided by Article V, Section 5 (b), Florida Constitution, and Section 702.01, Florida Statutes. COUNT I~ Ft URE OF MORTGAGE 3 There are attached hereto copies of a Home Equity Conversion Loan Agreement (hereinafter referred to as the “Loan Agreement”), Adjustable Rate Note (Home Equity Conversion) (hereinafter referred to as the “Note”) and Adjustable Rate Home Equity Conversion Mortgage (hereinafter referred to as the “Mortgage”; the Note, the Loan Agreement and the Mortgage shall be referred to hereinafter together as the “Loan”), which were prepared on April 4, 2008 to evidence a just debt. Firm File # 58341.0147 #** FILED: BROWARD COUNTY, FL BRENDA D. FORMAN, CLERK 05/31/2019 01:52:51 PM.**#* Said Note is secured by a Mortgage recorded in Official Records Book 45272 at Page 875 as assigned in Official Records Book 45272, Page 891 and further assigned in Instrument No. 115533951 and further assigned in Instrument No. 115717386 of the Public Records of BROWARD County, Florida, and encumbers the following described property: LOT 7, BLOCK 7, LIBERTY PARK ESTATES SECTION 2, ACCORDING TO THE PLAT THEREOF, RECORDED IN PLAT BOOK 53, PAGE 34, OF THE PUBLIC RECORDS OF BROWARD COUNTY, FLORIDA. 4. ‘The Plaintiff's Attorney Greenspoon Marder LLP is in physical possession of the Note, endorsed to Plaintiff, which is the subject of this action and therefore, is the holder of that Note, through its counsel. 5 Defendant(s), LEOLA B. IRVING AKA LEOLA BRAY IRVING is/are the current owner(s) of the real property which is the subject of the Mortgage. 6. Pursuant to the loan documents that comprise the Loan, Plaintiff made advances of money to Defendant(s) LEOLA B. IRVING AKA LEOLA BRAY IRVING (together, the “Borrower”). Under the terms of the Mortgage the lender may require immediate payment in full of all sums secured by the Mortgage if the Borrower fails to timely pay taxes and/or insurance for the subject property. 7. The Loan went into default and was called due and payable by HUD on April 19, 2016, due to non-payment of taxes and/or insurance for the subject property. 8 There is now due, owing and unpaid to the Plaintiff as of the date of the filing of this Complaint the following amounts under the Loan: unpaid principal balance of $151,509.45, plus interest, escrow, title search expenses for ascertaining necessary parties to this suit, title exam, filing fee, attorneys fees and Loan Advances as defined in the Loan Agreement (which may result in an increase in the unpaid principal balance subsequent to the filing of this action). 9. ‘Plaintiff has retained undersigned counsel to bring forth this matter and is required to pay them a reasonable fee for their services, Firm File # 58341.0147 10. Plaintiff declares the full amount payable under the Loan to be due, together with any sums advanced and paid to protect its security for ad valorem taxes, premiums on insurance required by the Mortgage and other necessary costs required to be advanced during the pendency of this action. Any such sum so paid will be due and owing the Plaintiff and are recoverable under the terms of the Note and Mortgage, W. All conditions precedent to the maintenance of this action have been performed, excused, waived or have otherwise occurred, 12, Defendants, UNKNOWN TENANT #1 and UNKNOWN TENANT #2, may claim or have some interest in or lien or claim upon the property by virtue of an unrecorded lease and/or their status as tenant in possession of the Property, but any such interest, lien or claim is subject, subordinate and inferior to the right, title, interest and lien of Plaintiff's mortgage herein sought to be foreclosed. 13, Defendant, UNKNOWN SPOUSE OF LEOLA B. IRVING AKA LEOLA BRAY IRVING, may claim or have some interest in or lien or claim upon the property by virtue of an unrecorded lease and/or his/her status as an unknown spouse in possession of the Property, but any such interest, lien or'claim is subject, subordinate and inferior to the right, title, interest and lien of Plaintiff's ortgage herein sought to be foreclosed, 14. Defendant UNITED STATES OF AMERICA ACTING ON BEHALF OF THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT was granted a mortgage recorded on April 14, 2008 in Official Records Book 45272, Page 883, of the Public Records of BROWARD County, Florida, which purports to encumber the aforesaid real property, but the lien thereof, if valid, is junior, inferior and subordinate to the lien of Plaintiff's Mortgage. WHEREFORE, Plaintiff respectfully requests that this Court enter judgment against the defendants as follows: Firm File # 58341.0147 Enumerating all amounts this Court determines due to Plaintiff pursuant to said Note, Mortgage and Loan Agreement; Ordering the Clerk of Court to sell the subject property to satisfy the amount due to Plaintiff, in whole or in part Adjudging that the right, title and interest of any right 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; Retaining jurisdiction of this Court in this action to make any and all further orders and judgments as may be necessary and proper; and For such other and further relief as this Court may deem just and proper. FLA. R. CIV. P. 1.115(e) VERIFICATION Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein are true and correct to the best of my knowledge and belief. Reverse Mortgage Fundi LLG by Celink Attorney in Fact B: Print Name: Title: Date: 3i/74 Respectfully submitted, GREENSPOON MARDER LLP TRADE CENTRE SOUTH, SUITE 700 100 WEST CYPRESS CREEK ROAD FORT LAUDERDALE, FL 33309 Telephone; (954) 343 6273 Hearing Line: (888) 491-1120 Facsimile: (954) 343 6982 Email 1: karissa.chin-duncan@gmlaw.com Email 2; gmforeclosure@gmlaw.com By: Karissa Chin- incan, Esq. Florida Bar No, 98472 Firm File # 58341,0147 HOME EQUITY CONVERSION LOAN AGREEMENT FHA Case Number am This agreement is made o April 4, 2008 umony LEOLA BRAY IRVING ("Borrower"), Statewide Mortgage Ouilet, Ine, ("Lender") and the Secrorory of Housing und Urban Development ("Sueretnry"), Artite t+ Definicions, ih “Expected Average Morigago Interest Rate" maans the smount indicated on the attached paymestt pplou (Exhibit 1), (12.0 constant interest rate used to enleulate monthly payments to the Borrower throughout the life oft V2 “Loan Advance means all Ruids advanced from or charged 19 Borrowers account under vonditions'set forth in this Loon Agreement, whetlieror not uctually paid to Borrower, 13. “Loun Documents" means the Note, Second Note, Security Instrument and Second Security fastrument, ta “Maximum Claim Amount® means the lesser of the uppriised value of the or the maximum doltue amount for an area established by the Seeretaty for a one‘femily residence under Section 203(0)(2) of the National Housing Act (as adjusted where applicable under Section 214 of the National Housing Aci), Both the uppeaised value and the mximum dottar mount for the area shall be ws of the date the conditlonal connnltment is issued, Closing costs shall notbe anken lino aceount in determining appraised value, 45, “Noto! means the promissory note signed by Borrower together with this Loan Agreement anid given to Lender to evidence Borrower's prumise to repay. wih interes, Loon Advancesby Lender or Lenders nssignees, 16. Princip ¢ "Principal Balance” means the sum of alf Loxn Advintecs made ad of a panicular dowe, including interest und mortgage Insurones premiuins. 7. “Priaeipat Liralt? means the mnowit ladlicated on the atwiched payment plan (Exhibit 1) when this {Loan Agrwement is executed, and inereusys euch wonth for it oF the Hosus mw x rate equal (o onetwellh of the sum Principal of the Mortgage Interest Rate in cffeet at that tine, plus omcoveltth of one-lal? percent per unum. The Borrower, Limit ig calculated using factors provided by ihe Sceretary, which take intw account the ayy of the youngest the Moryage Intwrost Raw, und the Maxinnim Clair Amount, ta, “Prinetpad Restdenco™ means the dwelling where the Borrower maintains his only oF her pennsnent v plucu of abode, and typical My spends the majority of tho cutendar your, A person ny have one principal & residence at any one tite, ‘The Property shall be considered to be the Principal Résidence of any Borrawer who is temporarily or permanently i i ¢ health ere Institution as long aa the Property i the Prinefpal Residence of at lenst one ‘ther Borrower who ig not in a heath care institution. 49, “property means Borrower's propery identified in the Security lastrument, 10, "Sceand Not means the promissory nole signed by Borrower together with Uris Loon Agreement ‘und given to the Seerewry 10 evidence Borrower's promise to repay, with interest Loan Advonces by che Secretary secured by the Second Security Instrument, TL, "Second Security Unvteument” mesits the mnonyage; deed of tus, security deed or other securlly instrument which ls sluned by Borrower together with this LoanAgreement and which secures the Second Note. 1.12, “Sccurlty {nstrument" means the morguge, deed of trust, security deed or other sucurity instrument which is signedby Borrower togethee with this Loan Agreement and which secures the Note, Article 2 + Lavin Advunees Genera Lender agrees 10 make Lou Advanegs under she conditions set forth in dhis Loan Agecemet in consideration of dw Note and Secarity Instrument yiven-by Borrower on the same date as this Lou Agreement, 23, {aittal Advances. listed in the 2.2.1, Loan Advances still be used by L.cuder 19 pay, or reimburse Borrower (or, clostay costsprovided Schedule of Closing Costs (Exhibit 2) aitnched to and made » pan of this Loon Ayreement, tat Lonn Advances will only be uxed to pay orighnatian (ees in an amount wat theexcoeding the greater of $2,000 or 2 percent of the mstximum claim amount, nor shall.dhe Leader change Barrower an origination fee in excess of this amount. 22,2, Loan Advances shall be used by Lentder (o discharge the [lens on the Property listed in the Schedule of Liens (Bxbibit 2) attached to and mads a part of this Loan Agreement, Tes ¥ cermmenro Be ATRY iD CORRECT COPY ‘Loan Ayeertea ” Jas eS B, NUTTER 8 CO. 4 2.23, Lender shall pay an tuitial Loan Advance to Borrower in the mount Indicated oh the attached payment plan (Exhibit 1). 2.2.4, Initial advances required by (his Section 2.2. shall be made as soon os such advances are permitted by ie applicable provisions of 12 CFR Part 226 (Truth in Lending) governing Borrower's right of rescission, bul not before that time, 23, Set Asides, 23.1, Ainounts set aside Com the Prineipul Limit shall be considered Loan Advanees to the extent actually disbursed or earned by Lender. 2.3.2. Lender shall initially set aside from the Principal Limit the amount indicated on the attached payment plan (Exhibit 1) for repairs to be made in vecordanice with p Repair Rider attached to and made a part of this Loan Agreameat (Gxhibit 3) 2.3.3, Londor shall initially set aside from the Principal Limit the amount indicated on the attached payment pinn (Exhibit 1) t0 be applied to paymenls due for first year property charges consisting of taxes, hazard insurance, ground rents and assessments. 2.3.4. Lender shall initially sot aside ftom tho Principal Limit the amtount indieated on the attached payment plan (Exhibit 1) to be applied to at due for a fixed monthly charge for servicing activities of Lender or ‘its servicer, Such servicing acti sate necessory (0 protect (enuder's interest in the Property. A servicing fee set aside, if any, is not availuble to the Borrower for any purpose, except to pay for loan servicing, ary id Fe Borrower sliol! pay to Lender ceasonable and customary charges and fees as penned der 24 CFR 206.207(4), Such amounts shall be considered Loun Advances when actually disbursed by Lender. 25, ‘Monthly Paymenty, 25.1, Coun Advances pid alrectly to the Borrower shall be made in equal monthly payments if requested by Borrower. 2.5.2, Momtly payments shall be eulcutoted for either the term payment plan or the tenure payment plan, as requested! by Borrower, : 2.5.8, Monthly payments under the tern payment pton are made o nly(v)during a ters chosen by the Borrower and (vi) shall be equal to or less than ‘and shuil be caleulated so that the sum of (i) or (fi) added to (iti), Gv)s the Prinoipal Limit a the end of the term: 4) Initial Advances under Section 2.2., plus any initial servicing fee set aside under Subsection 2.3.4., or Gi) ‘The Principat Balonco at the time of o change in payments under Sections 2.8, and 2.9. plus any anc ‘remaining servicing (ee set aside under Subsection 2.3.4,, «aii ‘The portion of the Principal Limit set aside us @ line of credit under Section 2.7., tnoluding any set asides for repairs (Subsection 2.3.2,) an wd Tirst your propesty charges (Subsection 2.3:3.), ond w ‘All monthly payments due through the payment term, including: funds withheld for payment of property charges under Suction 2.10., a0 wy All mortgage insurance promiuns, ‘or monthly charges due to tle Secretary in lieu of mortgage Jusurance premiums, which aré duc tsrough the payment term ( (Subsection 2.13,), and wi) AA interest through the payment tem, The Expected Avernge Morgage Interest Rete shall bo used {for this purpose. 2.54. Monthly payments under the tent ire payment plan shall be calculsted us in Subsection 2.5.3, as if there were a payment term with the num! ber of months in thy term equal (0 thetho 4 sumof 100 minus the age of loan becomes duc and payable the youngest Borrower multiplied by 12, but payments shail continue intil as provided in the Loan Documents. 2.8.8, Monthly payments shall be poid to Borrower on the first businoss day of a month, 2.8.6, If Borrower hus requosted monthly payments, payments sholl be indicated on the anached2.9,payment plan (Exhibie 1). The payment plan may be changed by Borrower as provided in Sections 2.8. and 2.6. Lalno of Credit Without Monthly Payuvents. Laan Agreawsnt 26.1. Bonower ean request Loan Advances under’ Tine of credit payment plan in amounts ond st times detennined by the Borrower, if the Principal Balmice of the toon after the Loan Advance is made iy less than ‘or equal to the applicable Principal Limit, oxcluding any portion of the Principal Limit set aside under Sections 2.3.2, or 2.3, ‘The fine of credit amount inerenses at the same race as the total Principal Limit increases under Section 1.7, 2.6.2, of credit payments shall be pald to Borrower within five (S) business days after the Lender hax Line received a written request for paymentby Borrawer, 2.6.3. Lender may specify a forin for fine of eredit payment requests. ibd Lender shall provide Borrower with « statement of the account every lime a line of credit payment is ‘made, ‘The staternent shall inefude dhe current intorest rate, the previous Principal Balance, the mount Litof current Loan Advance, the current Principal Balance after the Loan Advunce, and tho current Principal 7, i c jh ly Pav nt 21, Borrower may receive monthly payments under elther a term of tenure pay:ment plan combined with aline of credit, as inclicated on the attached payment plan (Exhibit 1), 2.7.2, Subsvetions 2.6.2, 2.6.3 and 2.6.4 apply to u fine of credit combined with term or tenure payments, 2.73. If Borrower combines a line of credit th a rerm oF tenure payment plan, te Principal Limit is divided info; (n) an amount for the ting of credit puymeuts, including repair and propenty charge sotvasides, {b).an amount for monthly payments which shall be culoulated under Subsection 2.5.3, or 2.5.4. and (c) an 2.3.4, Amouuts designated for famouol for a servicing fee set aside, if required by Lender under Subsection fine of credit payments and unonthly payments increase independently at the same rate as che total Principal Limit increases uncler Section 1.7. Borrower can request Loan Advances in amounts and at times determined by Borrower, if the requested amount is less thon or equal to the outstanding difference between (a) the Principal Limit applicable co the line ‘of credit set nsido and (b) the portion ofthe Principal Balance attributable to mortgage insuranco promium or moithly charge draws on the line of credit, including acerued isiterest and and due to the Secretary, but excluding any portion of the Principal Limit set aside ‘under Subsections 2.3.2, 2.34. 274. A Borower receiving monthly payments in combination wlth a line of credit may prepay the ‘outstanding mortgage balance in accordance with the terms ofthe Note, \ 2B a 1 " zone 2.8.1, Whenover the Principal Balance of the toon is less than the Principal Limit, Barrowor may change {fom any payment plan sllowuble under this Loan Agreement to another. made after n change fi payment plan, Lunder shall 2.8.2. If Borrower requests that mouthly payments be Subsections recalculate future monthly paynwents in accordance with 2.5.3, of 2.5.4, 2.8.3. Lender may charge a fee nol (9 exceed the amount determined by the Secretary, whenever any payments are recalculated, 2.8.4. Loan Advonees undor a new payment plan shall be paid to Borrower in the same manner and within the time period required under Sectlons 2,5., 2.6. or 2.7, 2.8.5, CChuuges in the payment plan ‘must be acknowledged by Borrower by signing a for containing the same information as the attached payient 1 plan (Exhibit 1), Lender shall provide a copy of the completed form to Borrower, 29 Due i os 29,1. {Finiial repairs after closing, made in acvordance with the Repuir Rider, are completed without using ull of the repair set aside, Lender shall inform ‘Borrower of the completion and ihe amount then availuble (0 the Borrower to be drawn under a line of credit 2.9.2, I initial repairs after closing, made in accordance with the Repair Rider, cannot bemadefullyin funded from the repair set osido, any additional Loan Advances needed to complete repairs shall be tho ntanner provided under Section 2,16, 2.9.3, Winitial repoirs are not completod when nequived by the Repair Rider, Borrower shall not request and Lender shall not make any further paymetss, except as needed to pay for repairs required by theLoanRepair Rider and mandatory Loan Advances under Section 4.5. In order to complete the required repaits,2.16. Advances shall be made first front the repair set aside, and then in the manner provided under Section Lawn Apres 230, Payment of Property Charges. 2.10.1, Borrower bas elected to require Lencler to use Loan Advances to pay property charges consisting of taxes, hazard insurance premiums, ground rents and special assessments if Indicatedon the attachedpayment plan (Exhibit 1). Borrower muy change this election by wotilying Lender and at that time Lender shall pay to Borrower any amounts withbeld from the Loan Advances (0 pay property charges, 2.10.2. Tf Borrower bas made the election under Subsection 2.10.1, and Borrower is re ving riomly payments, Lender shall withhold amounts from each monthly payment and use the amounts withheld to meke timely payments of property charges, The amounts withheld shall be calculated as provided in Subsection 2.10.3. Amounts withheld from monthly payments shall not be trented as Loan Advances and shall not bear jmterest except to the extent actually disbursed by Lender, 2.10.3. Lender shall withhold from each monthly payment ah amount to pay (a) taxes and special assessments levied or to be levied ayuinst the Property, (b) lensebold paymentsby. the or ground rents on the Property, and (c) premiums for fire, flood and other hazard insurance coquired Security Instrument, Each monthly withholding for items (a), (be) and (¢) shall equal one-twelfth of the annual amounts, ws reasonably estimated by Lender. TI The Full annul I axnounst for each Item shall be poid by Lender before am item would become delinquent, Lender shall add the amounts for), items (a), (b) and (¢) to the Principal Balance when paid. Ifat any time the withholding for item (a), oF (c)add exceeds the amount of actual property itto the Principal Balunce, TF the total charges, Lendor shall pay the excess withholding to Borrower and of the withholding for item (6), (0), or (c) is insufficient to pay the item when due, the amount necessary to anake up the deticiency on or before the date tI iho item becomes due shull be paid as a Loan Advance in the manner provided under Section 2.16. 2.10.4, If Borrower has mace the election under Subsection 2.10.1. and Borrower is not receiving monthly payments, Lender shall make Loan Advances under the line of credit payment plan as needed to make timely payments of property charges, ‘provided that oo sucls Loan Advance shill exceed the amount permitted by Sectlon 2.6.1. 2.408, If Borrower fils to pay the property charges in a tim nely manner, and bas not elected to have Lender make the payments, Lender shall pay the p roperty cliaeges as a Loan Advance 1s required under Section 2.16, may establish procedures to pay the property charges from Ifa patiern of missed payments occurs, Le cenvder Rorrowur’s finds as if Borrower o ected to lve Lender pay the property charges. 2.10.6. Lender shall. immediately notify ‘ony Borrower who tias made the clection under Subsection 2.10.1 whenever Lender determines that amounts available front monthly payments or Tite of eredit paymuents wil ‘be inguffictent to pay property charges. 2d, aeons Cc (le rok . It insurance ar condemnation proceeds are paid to Lender, the Prineipal Balance shall be reduced by the amount of the proceeds uot applia 1d‘theto Principat restoration oF ie of the damaged sty and the available loan funds shall be recaleul ited, AU the same timo, Limit also shall be reduced by the amount of the proceeds applied to reduce the Prinipal Balance, 2d Anterest 2.12.4. Intorest shnllbe calculated as provided in the Loren Documents, end of each 4412.2, Interest shall scene daily and be adkled to the Prinefpa} Balanee as a Loan Advance at the month, 23. fort uranes i a the Security Instrument is held 2.13.1, Monthly MIP shall be calontated as provi ided in 24 CER Part 206. ‘heIf Second Security Instrument, « by the Secrewey oF if the Secretary makes Lonn Advances secured by monthly cbaege shalt bbe duc to the Secretary and shatl bo calculated in the same manner as MIP. 2413.2. The full umount of monthly MIP or monthly charge, including any portion of the MIP retainedby @ Lender under 24 CFR 206,109, shall be considered! to be 8 Loan Advance to Borrower on tho later of tho first day of the month or tha day Lender pnys the MIP tt ihe Secretary, if any fullMIPalteris duethe tofirstthe daySecretary. In the Note is prepatd in ‘event that the Note bacomes duc and payable or the Balance of the month, Lender may add the accrued MIP to the Principal or the Secretary anny nd the ‘scerued monthly charge to the Principal Balance. 2M, ? |. For purposes of" Seetion "Borrawor" shall not include any person whobas signed this nb Agroement but iL who has a Principal Residence different from the Proparty, Only » Borrower a right to by cither electronic funds transfer to receive Loan Advances. Borrowers shall chao: se 10 receive Lonn Advancesdesignated bank necount designated by all Borrowers or by-check mailed to an addressfor the benefitby oftall theBorrowers, except whore Borrowers, Borrowers all Borrowers agree that payment should be made direetly to0 third party thay change the manner of payment by notifying Lendar, (oun Agreement 215, Protee et 2.18.1. If Borrower vacates or abandons the Property, or if Borrower is in default under the Security Insirument, then Lender may moke reasonable expenditures to protect and preserve the Property and these expenditures will be considered Loan Advances as required under Section 2.16, 2.15.2. If Borrower falls to pay governmentn) or munleipal charges, fines or impositions that are not included in Section 2.10. or if there is a legal proceeding that may significantly affect Lenders rights in the Propenty {such as a proceeding in bankruptcy, far condemnation or to enforce Inws or regulations), then Lendar may do and pay whalever is necessary to protect the value of the Property and Lenders rights In the Property. ‘These expenditures will be considered Loan Advancesas required under Section 2.16. 216, ad Py Loan Advances made pursuant to Sections 2.4., 2.9.2., 2.9.3., 2.10.3., 2.10.5, and 2.15, shall be made from a line of credit under Section 2,6. or 2.7. to tho extent possible, fue line of credit sufficient {0 make die Loan Advances exists, ony futuro monthly payments most be recalculated in accordance with Subsection 2.5.3, or 2.5.4, t0 create u line of credit sufficient to make the Loan Advances. Article3 - Latte Charge 3.1. Amount Due, Lender shell pay a late charge to the Borrower for any lute payment. If Lender docs not mail oF olectronically transfer a scheduled monthly payment to Borrower ¢ on the first business day of the mouth or mmuil or olectronically transfer a line of eredit puymtent ta Borrower wit five (5) business days of the date Lender received the request, tho fave chaege shall be ten percent (10%) of the entire amount that should have been paid to the Borrower for that munth or as a result of that request i, For ench additional day that Lender fails to make payment, Lender shall pay hterest on the late payment at the interest rate stated in the Loan Docunients.shall1f bethe used. Loan Documents In no event provide for an adjustable interest rato, the mie in el {fect when the late charge first accrues shall the total late charge ‘and Interest execed five hundved dollars ($500.00). Any tate-charge shall be paid from Lender's funds and shall not be added to the wupaid Principal Balance, 32, Waiver, The Sectotary may waive a lato churge where the Sceretary determines tributed that the Inte beyond Lencler’s control and thatno wet or omission of Lender cont to the paym nent resulted from circumstances Borrower that a wuiver of late charge has Tate payment. At the tim 1¢ Lender requests a waiver, Lenderwillshallbe inform sent to Borrower If the waiver is denied. if the been requested from the Secretarya and that the late charge Inte charge and interest that accrued from the dale the Secretary denies the waiver, Lender shall pay to Borrower the payment was late untl the date the waiver was requested, Article 4 - Termination of Lender's Obligation to Mule Luaa Advances 4k ‘Loan Dus and Payable, Lender shall have no obligation to make Loan Advances if Lender has votified Borrower that it mediate payment in full to Lender is required under one or more of the Loan Documents unless and until the notice is rescluded by Lender. 42. 1 x. Tete Security Instriment has been assigned to the Secrotary or the Instrument, Lender Secretary notifies Lend jor and Borrower that Loam Advances are secured by the Second SecuritySecretary accepts later shall have no further obligation to make Lonn Advances. under Loan Agreement, untess the muy reimbursement by the Lender (or all Loan Advances mac de, eamied or disbursed by the Secretary. The Secretary payments and chonges in paymentry andplanscompletion establish procedures for handling requeststhe forSecurity ducing the interval between of the ussignmant. Lender's notification of intent to assign Iistrument to the Secreta Bonwer shall be Informed of such proceduresby Lender and/orthe Secretary, and Borrower shall comply with such procydures. 43. L i 1 eq. Lender shall have no obligation to make futher Loan Advances if theis Lender or the Secretary determnines that the len siatns of dhe Se jourity Instrument or the Second Security Instrument Jeopox ined under State laws ns described in Paragraph 12(8) of the Security Insument ‘or Second Security Instrument an nd the lien statusiy wot extended in aecareance with Paragraph 12a). v, Lender shall have no obligation to minke further Loan Advances on or following the dato has phon fr Bak ruptey of Borrower is filbd. 43. landal ‘Notwithstanding anything in Sections 4.1. through 4.4., all Loon Advances under Sections 2.10. (property charges), 2.12. (Interest), 2.13, (MIP or monthly charge), 2.15 (protection of Property) or 2.3.4. (servicing fee) shall be considored mandatory Loan Advances by Lender, fn Ful. Lender shall not make Loan Advances if Borrower has paid the Note in full (or the Second Note ifthe Set retary has assumed the Lender's rights and obligations under Article 5). ‘osmaAyreement Article 5 - HUD Obligation If the Lender has no tiurther obligation to make payinents to Borrower because af Section 42., the Secretary shall assume the rights and obligations of Lender under this Loan Agreement, oxcept the Secretary shell not assume any obligation of paying flaod, fire and other hzacd insurance from Loan Advances, If the Seeretncy makes Loan Advonces to Borrower under the Second Security Instrument, the portion of the Principal Limit available for Loun Advances shall be tho difference betwoen the curyent Principal Limit and the combined Principal Balances on the ‘Scourity Instrument less avcrued interest and the Second Security Instrument, Article 6 - Miscetlaneons iver, Any forbeacunce by Lender in exercising any right or comedy shall not bea waiver of or reclode textes of ‘ony right or remedy, ws Bounds: in i + The covenauts and agreemenisof this Loan Agreement shall bind and benefit tle suvoessors and assigns of Lender. An assignment made in accordance with the regulations of the Secretary shall fully relicve the Lender of Its obligations under this: Loan Agreement, Borrower may not assign any rights or obligations under this Lon Agreement, Borrower's covenants ‘and agreements shall be joint and several, ess, Any notico to Borrower provided for in this Loan Agrocmont shall be given by delivering it or by mailing iby fi itst class mail unless applicable {aw requires use of another method, The ndtico shall be directed to the property acldvess shown in the Security Instrument or any other address all Borrowers jointly designate. Any notice (o Lender shall be given by first class mail o Lender's address stated herein or any address Lender designates by notice to Borrower, Any notice to the Secretary shall be given by first class mail to the HUD Field Office with jJuvisdietion over the Property or any ofier place dusignated by the Secrviary. Any notice providedas for in this Loan ‘Agreement shall be deemed to have been given to Borrower, Lenderor the Secretary when given provided in this Section. 64. Governing Laws Soverabtllty, This Loun Agreement shall ‘govemeil by Federal law and the law oF the jurisdiction in which the Prope erly 1s located, Jn dhe event tho! any provision or elouse of this Loan Agresment conflicts with applicable law, such conflict shall not afliet other provisto ins of this Loan Agreement which can bo given effect without the conflicting provision, ‘To this end the provisions of this Loun Agreement ara declared to be severable, 1s. Lender, Borrower and the Seccetary shall each receive one original executed copy of this Loan Agroement when signed by the Secretary. 6.6. I 2 com. . This Loan Agecement shill bind Lender and Borrower when both Lender and Borrower have signed, Wiielher or ot the Secretury signs this Loan Agreement. This Loan Agreement shull bind the Secretary only when and if he Secrovary as signed and a Morigage Insurance Certificate is issued for the Security Instrument. wee Y SIGNING BELLOW the purties uovept and agree co the torms contained in this Loan Agreement and the exhibits, & LAL’ (SEAL) THOLA BRAY IRVINNeperrowen Oo Stotewide Mortgnge Outlet, tne. (SEAL) Pied a Ni fame: Bly Shea Title: Vice Presidont Secretary of Housing and Urban Development ——_— (SEAL) Pied Nae! le: aan Ageenient IN THE CIRCUIT COURT OF T! HE 17TH JUDICIAL CIRCUIT, IN AND FOR BROWARD COUNTY, FLORIDA CIVIL DIVISION REVERSE MORTGAGE FUNDING LLC, Plaintiff CASE NO. vs. LEOLA B, IRVING AKA LEOLA BRAY IRVING, et. al., Defendant(s). CERTIFICATION OF NOTE POSSESSION The undersigned hereby certifies: 1 That plaintiff is in possession of the original promissory note upon which this action is brought. 2. The location of the original promissory note is: with Plaintiffs Attorney, Greenspoon Marder LLP, 100 W. Cypress Creek Road, Suite 700, Fort Lauderdale, Florida 33309. 3 ‘The name and title of the person giving the certification is: Karissa Chin-Duncan, Esq. 4 The name of the person who personally verified such possession is: Karissa _Chin- Duncan, Esa. 5 The : time and date on which possession was verified were: 430-19 ak 12:07 pun 6. Correct copies of the note (and, if applicable, all endorsements, transfers, allonges, or assignments of the note) are attached to this certification. 7. I give this statement based on my personal knowledge. Under penalties of perjury, I declare that I have read the foregoing Certification of Possession of Original Note and that the facts stated in it are true. Executed on:_ 5-30-14 GREENSPOON MARDER LLP TRADE CENTRE SOUTH, SUITE 700 100 WEST CYPRESS CREEK ROAD FORT LAUDERDALE, FL 33309 Telephone; (954) 343 6273 Hearing Line: (888) 491-1120 Facsimile: (954) 343 6982 Email Karissa,Chin-Duncan@gmlaw.com Email 2: gmforeclosure@gmlaw.com By: Karissa Chin-Duncan, Esq. Florida Bar No. 98472 Firm File # 58341.0147 ADJUSTABLE RATE NOTE. (HOME EQUITY CONVERSION) STATE OF FLORIDA April 4, 2008, UROPERTY ADDRESS: FHA Cose Nurnber: 095-0578520-952 ‘Loup Numbor: 37036 649 NW 21ST ST MIN Number: POMPANO BEACH, FLORIDA 33060 HROWARD COUNTY 1, DEVINITIONS "Borrower" mouns each person signing at the end of this Not. “Lendor" means Statewide Mortgage Outlet, Inc, ond ity successors und assigns. "Secretary means the Secrowry of Housing wid Urlan Development or his or her authorized representatives, 2, BORROWER'S PROMISE TO PAY; INTEREST In return for anvounts to be advanced by Lendor up t0 ¢ maxinum printipal omount of Two Hundred Sixty-Sevon Thousand ‘umd 00/100 Dullnrs ($247,000.00), (0 or for the benefit of Borwwer under the terms of a Ftome Equi Conversion Loan ‘Agreement dated April 4, 2008 ("Loan Agreoment"), Borrower promises to pay to (he order of Lender a principal amount equal 10 the sum ofall Loan Advances made unor thy Loon Agreement with interest, All omoonis advanced by Londur, phos interest, if ‘nol puid earlier, are die and payable on JANUARY 16, 2089. Interwst will bo charged on wopald principal at the rale of Three ‘and 1/10 percent (3.100%) per year until the full amount of principal hos been paid. ‘The intorest rate tay change in accordance \with Paragraph $ of this Nota, At the end of each month, accrued interest shall be added to und made port of the principal balanae vasa Loan Advance and shall cewise thereafter bear interest, 3, PROMISE TO PAY SECURED Borrowers promise to pay is socured by u morgage, deod of trust or siilur security instrument that is dated the sto dito as this Note aud valled tho *Securty Instrunent” ‘The Sccurity fastrument protects the Lender from losses which might rosull IF Borrower defaults under this Note. MANNER OF PAYMENT @)Time Borrower shall pay all outstsading prineipat sad accrued interest to Lender upon reccipt of « notice by Loncler requiring immediate paymont i (ull, as provided in Parogenph 7 ofthis Note. {B) Pluew Payment stall be made att 515N, University Drive, Sulte 216, Coral Springs, Florida 3307) or any such other place as Lender anay designate in writing by notiee to Borrower. {C) Limitation of L.tabtlity only through site ofthe Propeny Borawer shall have no personal lability for payment of the debt. fender shall enforeo thethedebtBorrower covered by the Security Instrument ("Property"), If this Note is essigned to the Secretary, indobtodness, shall not be linble for any itference between the moriguge insurance benofits pald (o Lender und the outstinding including accrued interest, cowed by Borrower atthe tino of the assignment, & INTEREST RATE CHANGES (A) Change Date ‘The inlorest rate may change on JUNE 1, 2008 and on _— that duy of each succcuding year, or 2 the first day of each neceeding month. “Change Date" muans cach date on which the interest mic could changs, (B) ‘The index Boyinning with tho first Change Date, the Intorest sate will be baged ou on index, "Indus" means the weekly avernga yield on United States Treasury Securities adjusted (wn conslant mmturity of ane year, theas ‘Cange aude available by the Federal Resarve Bowrd., Duty, I the Index (as defined above) Is “Current Index" manns the most recent Index figure available 30 days before oF tno longor available, Lender will use as a new Index eay indox proseribed by the Secretary. Lender wil glva Borrower notice the now Index, (€) Calculation oflnterest Rate Changes percentage points to the Current Before each Change Dave, Lender will calculate a new interest rite by adding a margin of new1.50 interest {nndex. Subjectto tho livits stted in Pueayraph 5(0) ofthis Note, thie amount will bo the rate until the waxt Change Fie Nowe @) Limits o0 tnterest Rute Changes ~ ‘Aural: ‘The Interest rule will nover increase or decrease by more than two pecountage polnts (2.0%) on uny single Change Date, The interest rote will never be more than five percuntagy puinis (5.0%) highor or lower ‘hun the initio! interest rate sinted fo Paragraph 2 of this Note, x ‘Monthy: The interost rate will never increase above 13.100%, (B) Nutlee of Changes Lender will give notice to Borrowerof any efuanye in tt