Preview
£)103
IN THE CIRCUIT COURT OF THE 9th JUDICIAL
CIRCUIT, IN AND FOR ORANGE COUNTY, FLORIDA
GENERAL JURISDICTION DIVISION (S)
^ A S E N ^ ^ ^ ^ ^ ^ ^ ^ ^ / ^ - jZat] j ^
U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE STRUCTURED
ASSET SECURITIES CORPORATION MORTGAGE PASS-THROUGH
- ^ 3 ^
CERTIFICATES, SERIES 2006-BC4
PLAINTIFF
VS.
GEORGE J. GIALLANZO; LORI A. GIALLANZO; ANY AND ALL UNKNOWN
PARTIES CLAIMING BY, THROUGH, UNDER, AND AGAINST THE HEREFN
NAMED INDIVIDUAL DEFENDANT(S) WHO ARE NOT KNOWN TO BE DEAD
OR ALIVE , WHETHER SAID UNKNOWN PARTIES MAY CLAIM AN
FNTEREST AS SPOUSES, HEIRS, DEVISEES, GRANTEES OR OTHER £2 CD
CLAIMANTS; JOHN DOE AND JANE DOE AS UNKNOWN TENANTS IN CX>
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POSSESSION 233
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COMPLAINT TO FORECLOSE MORTGAGE ; —^CD •'
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AND TO ENFORCE LOST LOAN DOCUMENTS f-o!Z! TT
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Plaintiff, sues the Defendant(s) and alleges: ZO C*>
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COUNTI
THIS IS AN ACTION to foreclose a Mortgage on real property in ORANGE County, Florida.
This Court has jurisdiction over the subject matter herein.
On SEPTEMBER 15, 2006 GEORGE J. GIALLANZO executed and delivered a Promissory Note and
GEORGE J. GIALLANZO AND LORI A. GIALLANZO, HIS WIFE executed and delivered a
BALLOON Mortgage securing payment ofthe Note to the Payee named thereon.
4. The Mortgage was recorded on SEPTEMBER 26,2006 in Official Records Book 8883 at page 4583, ofthe
Public Records ofORANGE County, Florida, and mortgaged the property described in it, then owned by
8 and possessed by the Mortgagors, a copy ofthe Mortgage AND NOTE ARE attached hereto as "Exhibit
"A". Said mortgage was subsequently assigned to U.S. BANK NATIONAL ASSOCIATION, AS
TRUSTEE FOR THE STRUCTURED ASSET SECURITIES CORPORATION MORTGAGE PASS-
THROUGH CERTIFICATES, SERIES 2006-BC4 by virtue of an assignment to be recorded.
5. The Plaintiff owns and holds the Note and Mortgage.
6. The property is now owned by the Defendant(s), GEORGE J. GIALLANZO AND LORI A. GIALLANZO ,
if living and if dead, the unknown spouses, heirs and beneficiaries of GEORGE J. GIALLANZO AND
LORI A. GIALLANZO who hold(s) possession.
7. There is a default under the terms ofthe note and mortgage for the FEBRUARY 01, 2008 payment and all
payments due thereafter.
All conditions precedent to the acceleration ofthis Mortgage Note and to foreclosure ofthe Mortgage have
been fulfilledor have occurred.
9. The Plaintiff declares the ftill amount payable under the Note and Mortgage to be due.
10. The borrowers owe Plaintiff $141,817.63 that is due in principal on the Mortgage Note and Mortgage,
together with interest from JANUARY 01, 2008 late charges, and all costs of collection
including title
search expenses for ascertaining necessary parties to this action and reasonable attomey's fees.
11. Plaintiffisobligated to pay its attomey a reasonable fee for his services rendered.
12. Defendants, John Doe and Jane Doe, may claim an interest in the property described in the Mortgage as
tenants pursuant to a lease agreement, either written or oral.Said interest is subject, subordinate, and
inferior to the lien ofthe
Mortgage held by Plaintiff.
13. In addition to all other named defendants, the unknown spouses, heirs, devisees, grantees, assignees,
creditors, trustees, successors in interest or other parties claiming an interest in the subject property by,
through under or against any of said defendants, whether natural or corporate, who are not known to be
alive or dead, dissolved or existing, are joined as defendants herein.The claims ofany ofsaid parties are
subject, subordinate, and inferior to the interest of Plaintiff
WHEREFORE, Plaintiff prays: That an accounting may be had and taken under the direction ofthis Court
of what is due the Plaintifffor principal and interest on said Mortgage and Mortgage Note, and for the costs, charges
and expenses, including attomey's fees and title search costs, and advancements which Plaintiff may be put to or
incur in and about this suit, and that the Defendants found responsible for same be ordered to pay the Plaintiff herein
the amounts so found to be due it; that in default of such payments, all right, title, interest, claim, demand, or equity
of redemption ofthe Defendants and all other persons claiming by, through, under or against said Defendants since
the filing oftheLis Pendens herein be absolutely barred and foreclosed and that said mortgage property be sold
under the direction ofthis Court; that out ofthe proceeds ofsaid sale, the amounts due the Plaintiff may be paid so
far as same will suffice;and that a deficiency judgment be entered if applicable and only in the event no Order of
Discharge of Personal Liability in Bankruptcy has been entered as to any ofthe Defendants who signed the subject
Note and Mortgage and a Writ of Possession be issued.
COUNT II
14. This is an action to enforce a lost, destroyed or stolen promissory note and Mortgage under
Fla.Stat. §673.3091.
15. On SEPTEMBER 15, 2006 GEORGE J. GIALLANZO executed and delivered a Promissory Note and
GEORGE J. GIALLANZO AND LORI A. GIALLANZO, HIS WIFE executed and delivered a
BALLOON Mortgage securing payment ofthe Note to the Payee named thereon.
16. The Mortgage was recorded on SEPTEMBER 26, 2006 in Official Records Book 8883 at page 4583, ofthe
Public Records ofORANGE County, Florida, a substantial copy ofthe Mortgage being attached hereto as
composite Exhibit "A" to the Plaintiffs original Complaint herein.
17. The Plaintiffis not presently in possession ofthe original Note and Mortgage. However,
a) the Plaintiffwas in possession ofthe Note and Mortgage and was entitled to enforce them when
the loss of possession occurred;
b) the loss of possession was not the resuh of a transfer by Plaintiff or lawftil
seizure; and
c) the Plaintiff cannot reasonably obtain possession ofthe Note and Mortgage because their
whereabouts cannot be determined.
18. A copy ofthe Note is attached hereto as Exhibit "A".
19. The Plaintiff will agree to entry ofaFinal Judgment ofForeclosure wherein it will be required to indemnify
and hold harmless Defendant(s) GEORGE J. GIALLANZO from any loss they may incur by reason ofa
claim by another person to enforce the lost Note and Mortgage.
WHEREFORE, PlaintifFrequests entry of judgment confirming its right to enforce the lost Note and
Mortgage under Fla. Stat.§673.3091.
TO ALL DEFENDANTS: PLEASE NOTE EFFECTIVE OCTOBER 13, 2006, 15 U.S.C. §1692G OF THE
FAIR DEBT COLLECTION PRACTICES ACT HAS BEEN AMENDED AS FOLLOWS:
(a) LEGAL PLEADINGS - Section 809 ofthe Fair Debt Collection Practices Act (15 U.S.C. 1692g) is
amended by adding at the end the following new subsection:
"(d) Legal Pleadings — A communication in the form ofa formal pleading in a civil action shall not
be treated as an initial communication for purposes of subsection (a)."
IY C. KILBOURNE
Law Offices of David J. Stem, P.A.
Attomey for Plaintiff
900 South Pine Island Road SUITE 400
Plantation, FL 33324-3920
(954)233-8000
08-53424(ASCF) Bar #:0044349
F:\GROUPS\FCDOCS\COMPLAIN\08\08-S3424,CMP
VIAGEOI: Fl,08-12870-2 ()5fl)6/2008 04:50:24pm
D O C OR 8883/458? P3gelor2l
imiiiiiigiiiiiiiiiiiiiiiiiiiijiiiiii
Return To: INSTR 20O&0&3a9e2
OR BK 08883 P6 4583 PGS=21
BNC MORTGAGE, INC. MflRTHft 0. HflYNIE, COMPTROLLER
P.O. BOX 19656 ORANGE COUNTY, FL
IRVZNK, CA 92623-9656 09/26/20B& 01:50:53 PM
MTG DOC TflX 498.40
INTflNG TflX 284.70
This document was prepared by: REC FEE 180.00
-{Space Above This Line For Recording Data]-
MORTGAGE
MIN 100122200002812128
Loan No. : TAM011616
DEFINITIONS
Words used in multiple sections of thisdocument are defmed below and other words are defined in
Sections 3,11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are
also provided in Section 16.
(A) "Security fnstniment" means diis document, which is dated S e p t e m b e r
15,2006
together with all Rideis to this document.
(B) "Borrowo-" is GECHIGE J. GIALLANZO A N D LORI A. GIALLANZO, HIS HIFE.
Borrower is the mortgagor under this Security Instniment.
(Q "MERS" is Mortgage ElectronicRegistration Systems, Inc.MERS is a separate c»iporationthatis
acting solelyas a nominee for Lender and Lender's successorsand assigns.MERS isthe mortgagee
under this Security instrumoit. MERS is organized and existing under the laws of Delaware, and has an
address and telephone number of P.O. Box 2026, Flint, MI 48501-2026. tel. (888) 679-MERS.
(D) "Lender" is ENC MORTGAGE, INC: , A DELAHARE CORPORATION
TAM011616
FLORIOA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMOIT WITH MERS FormSOlO 1/01
rtBfe> -6A(FL| (00051.02
Page l o f
16
^ ' ^
Initials:.
^ C ^ . &
V M P MORTGAGE FORMS - (SOOIS21-7291
-. ll^ ''
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D O C OR888V4583
Lender is a corporation
organized and existing under the laws of
Delaware
Loider's address is P.O. BOX 19656, IRVIME, CA 92623-9656
(E) "Note" means the promissory note signed by Borrower and dated September 15, 2006
The Note states that Borrower owes Lender one hundred forty-two thousand three
hundred fifty and 00/100 Dollars
(U.S. $ 142,350.00 ) plus interest. Borrower has promised to pay this debt inregularPeriodic
Payments and to pay the debt in full not later tfaan October
1, 2036
(F) "Property" means the property that is described below under the heading"Transfer of Rights in the
Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
due imder the Note, and all sums due under this Security Instrtmient, plus interest.
(H) "Riders" means all Riders to this Security Instiumoit that are executed by Borrower. The following
Riders are to be executed by Borrower [check box as qiplicablej:
I Tt I Adjustable Rate Rider
LI] Condominium Rider LZI Second Home Rider
im Balloon Rider CZI Planned Unit Development Rider CZI 1-4 Family Rider
CZI VA Rider CZ] Biweddy Payment Rider E OthCT(s) (specify]
Pr^>ayment Penalty Rider
(I) "Applicable Law" means all controllingapplicable federal,state and local statutes, regulations,
ordinances and administrative rules and orders (that have the effect
of law) as well as all applicable final,
non-appealable judicial opinions.
(J) "Community Association Dues, Fees, and Assessmoits" means all dura, fees, assessments and other
charges that are inqiosed on Boirower or the Property by a condominium association,homeowners
association or similar organization.
(K) "Electronic Ftmds Transfer" n^ans any tiansferof fimds, other than a transactionoriginated by
check, draft,or similar pqier instmmoit, wfaidiis initiated
tfaroughan electronic terminal,tdephonic
instrumoit, conqiuter, or magnoic t^ie so as to order, instruct, or authorize a financial institution to 6doit
or credit an accoimt.Such teim includes, but is not liinited to, point-of-sale
transfers,automated tello
machine transactions,transfers initiatedby telqihone. wire transfers,and automated clearinghouse
transfers.
(L) "Escrow Itons" means those itons that are described in Section 3.
(M) "MisceUaneous Proceeds" means any conqiensation, settlement, award of damages, or proceeds paid
by any third party (othei than insuiance proceeds paid undo tbe coverages described in Section S) for: (i)
damage to, or destruction of,the Propeity; (ii) condemnation or other taking ofall or any pan of tfae
Propeity; (iii) conveyance in lioi of condonnation; or (iv) misrepresoitations of,
or omissions as to, tfae
value and/or condition of die
Property.
(N) "Mortgage Insurance" means insurance protecting Lender against the nonpaymoit of, or default on,
theLoan.
(O) "Poiodic Payment" means tfaeregularlyscfaeduled amount due for (i) principal and interest under tfae
Note, plus (ii) any amounts under Section 3 of tfais Security Instmmoit.
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(P) "RESPA" means tfae Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its
implementing regulation. Regulation X (24 C.F.R. Pan 3500). as tfaey migfat be amended fiom time to
time, or any additional or successor legislation orregulationtfaat governs tfae same subject matto. As used
in tfais Security Instrument,
"RESPA" refers to all requirements and restrictions tfaat are inqiosed in regard
to a "federallyrelated mongage loan" even if tfae Loan does not qualify
as a "federally related mortgage
loan" under RESPA.
(Q) "Successor in Interest of Borrowo-" means any party tfaat has takoi title to the Property, whether or
not tfaat partyfaasassumed Borrowo's obligations undo the Note and/or tfais Security InsUument.
TRANSFER OF RIGHTS IN THE PROPERTY
Tfais Security Instniment secures to Lendo: (i) tfae repayment of tfae Loan, and all renewals, extensions and
modifications of the Note; and (ii) tfae performance of Borrower's covenants and agreements imder this
Security Instrument and tfae Note. For this puipose, Bonowo does hereby mongage, grant and convey to
MERS (solely as nominee for Lendo and Loido's successors and assigns)and to tfaesuccessors and
assigns of MERS, the following described property located in tfae COtJNTZ [Type of Recording Jurisdiction]
ofORANGE, ETiOROIA [Nameof Recording Jurisdiction]:
LOT 1247, SKY LAKE- UNIT TEN, ACCORDING TO THE PLAT THEBEOF AS RECORDED
IN PLAT BOOK 2, PAGE 135 OF THE POBLIC RECORDS OF ORANGE COUNTY, FLORIDA.
Parcel ID Number: wfai(± currently has tbe address of
634 MAROT ST [Street]
ORLANDO [City], Florida32809 [ZipCode]
("Property Address"):
TOGETHER WITH all tfaeinqirovonents now or hereaftererected on the property, and all
easonents. ^qnntenances, and fixtures now or hereafto a partof the propei^. AU replaconoits and
additions s h ^also be covered by this SecurityInstnmKnt. AU of die foregoingis referred to in diis
Security Instrument as Ifae "Propeity." Bonowo undeistands and agrees that MERIS holds only legal title
to the interests granted by Boirowo in this Security Instrumoit, but, if necessaiy to conniy witfa law or
custom, MERS (as nominee for Loider and Lendo's successors and assigns) has the right: to exercise any
or all of tbose intoests, including, but not limited to. tfae right to foreclose and seU tfae Propeity; and to
take any action required ofLendo including, but not limitedto, releasing and cancelingtfais Secnrity
Instrumoit.
t-6A(FI.) 100051.02 PugeSofie *^ ~-^ FormSOlO 1/01
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BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has
the right to mortgage, grant and convey the Property and that the Property
is unencumbered, excqit for
oicumbrances of record. Borrowo warrants and wUl defend generally tfae title to tfae Propeity against all
claims and demands, subject to any oicumbrances of record.
THIS SECURITY INSTRUMENT combines unifoim covenants fornational use and non-uniibrm
covenants with limited variations by jurisdiction to constitute a unifonn
security instiument covering real
propoty.
UNIFORM COVENANTS. Borrowo and Lender covenant and agree as follows:
1. Paymoit of Principal, Intoest, Escrow Items, Prepayment Charges, and Late Charges.
Bonowo shaU pay wfaen due the principalof, and interest on,
tfae debt evidoicedby tfae Note andany
prepayment cfaarges and late cfaarges due u n d o tfae Note. Boirowo sfaaU also pay fimds foi Escrow Items
pursuant to Section 3. Payments due undo tfae Note and tfais Security
InstnuiKnt sbaU be made in U.S.
currency. However, if any check or otho instrument received by Lender as paymoit undo the Note or this
Security Instrument is retumed to Lendo unpaid, Lendo may require diat any or all subsequent paymoits
due undo the Note and thisSecurity Instrument be made in one or more of tbe foUowing forms, as
selected by Lendei: (a)casfa;(b) money ordo; (c) cotifiedcfaeck, bank cfaeck,treasurer's, checkor
casfaio'scheck, provided any such cfaeckisdrawn u|)on an institution
wfaose dqiositsare insuredby a
federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lendo when received at tfae location designated in tfae Note or at
such otfao location as may be designated by Lendo in accoidance witfa tfae notice provisions in Section 15.
L o i d o may rOum any payment or paitial payment if the payment or paitial paymoits are insufficient
to
bring the Loan current.Lendo may accept any payment or partial payment insufficientto bring tfae Loan
current, witfaout waivo of any rights faeromder or prejudice to its rights to refiise such paymoit or paitial
payinents in the future,
but Lender is not obligated to qiply sudi paymoits at die time such payments are
accqited. Ifeach PeriodicPayment is qiplied as ofits scheduled due date,tfaen Lendo need not pay
intoest on um^plied fimds. L o i d o may hold such unqiplied fiinds untU Bonowo makes paymoit to bring
the Loan current. If Borrowo does not do so witfain a reasonable period of time, Lendo shaU eitho iqiply
sudi fiinds or retuni tfaem to Boirowo. If not qipUed eariio, su<^ fimds wiU be qipUed to the outstanding
principalbalance u n d o
the Note immediately priorto foreclosure.No ofEset or claim vMdt Borrower
might faave now or in the fiimre against LendosfaaU relieve Boirowo fiom making paymoits due undo
tfae Note and tfais Security Instrument or performing the covenants and agreements secured by tfais Security
Instnimoit.
2. AppUcation of Faymoits or Proceeds. Excqit as otfaerwisedescribed in tfais
Section 2, aU
paymoits accqited and appUed by Lendo sfaaU be ^iplied in the foUowing o r d oof priority:
(a) interest
due undo tfae Note; (b) principal due undothe Note; (c) amounts (hie undo Section 3. Sucdi paymoits
sfaaU be qipUed to eadi Periodic Payment in tfae ordoin wiaiA it became due. Any ronaining amounts
sfaaU be qipUed first to late charges, second to any otho amounts due undo tbis Security Instiument, and
tfaoi to reduce the prindpal balance of tfae Note.
If Lender receivesa paymem fiom Boirowo fora delinquent Poiodic Paymoit v^cfa includesa
sufficientamount to pay any late cfaarge due, tfae payment may be qqilied
to tfae delinquent paymoit and
tfae late charge. If more than one Periodic Payment is outstanding, Lendo may ^iply any payment received
from Bonowo to the iq)ayment of tfaePeriodic Payments if, and to tfaeextoit that,eacfa payment
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can be paid in full. To tfae extoit diat any excess exists afto
the payinent is applied to the fiill payment of
one or more Periodic Payments, sudi excess may be ^iplied to any late diarges due. Voluntary
prqiaymoits sfaaU be applied first to any prepayment (diarges and tfaen as described in the Note.
Any application of payments, insurance proceeds, or MisceUaneous Proceeds to prindpal due undo
tfae Note sfaall not extend or postpone tfae due date, or diange tfae amount, of the Periodic Paymoits.
3. Funds for Escrow Items. Borrowo shall payto Loider on the day PeriodicPaynKnts are due
undo tfae Note, untU tfae Note is paid in fidl, a sum (the "Fimds") to provide for paymoit of ainounts due
for: (a) taxes and assessments and otfao items which can attain priority over this Sanirity Instmmoit as a
lien or encumbrance on the Propoty; (b) leasdiold payments or ground rents on die Property,
if any; (c)
proniums forany and aU insurance requiied by Lendo under Section 5; and (d) Mortgage Insurance
premiums, if any, or any sums payable by Borrower to Lender inUoi of the payment of Mongage
Insurance premiums inaccoidance witfathe provisionsof Section 10. These items arecalled "Escrow
Items." At originationor at any time during the term of tfae Loan,
Lendo may require tfaat Community
Association Dues, Fees, and Assessments, if any, be escrowed by Borrowo. and such dues, feesand
assessments shaU be an Escrow Item. Borrowo sfaaU promptly furnisfato Lendo aU notices of amounts to
be paid undo tfais Section.
Borrowo sfaall pay Lendo tfae Funds for
Escrow Items unless Lender waives
Borrower's obligationto pay tfaeFunds for any or aU Escrow Items. Lendo may waive Borrowo's
obligation to pay to Loider Funds for any or all Escrow Items at any time. Any sucfa waivo may only be
in writing. In tfae event of sucfa waivo. Borrower shall pay directly, wfaen and wfaere payable, tfae amounts
due for any Escrow Items for wfaicfa payment of Funds faas been waived by Lendo and, if Lendo requires,
sbaU fiunisfa to Lendo receipts evidoidngsucfa payment witfain sach time period as Lendo may requiie.
Borrower's obligation to make sucfa paymoits and to provide receipts sfaall for aU purposes be deemed to
be a covoiant and agreemoit contained in this Security Insmimoit, as tfae pfarase "covenant and agreement"
is used in Section9. If Borrower is obligatedto pay Escrow Itons direcdy, pursuam tb a waivo. and
Bonowo falls to pay tfae amount due for an Escrow Item, Lendo may exocise its rigfats u n d o Section 9
asd pay such amount and Boirowo sfaaU tfaen be obUgated u n d o Section 9 to rqiay
to L o i d o
any sucfa
aoiount. Lendo may revoke tfae waivo as to any or aU Escrow Itonsat any time by a notice given in
accordance witfaSection IS and, upon sucfarevocation.Borrowo shall payto Lender aU Funds, and in
such amounts, tbat are tfaen required u n d o this Section 3.
L o i d o may. at any time, collect and faold Funds in an amount (a) sufficient
to permit Loido to ^>ply
the Funds at tfae time specified
undo RESPA, and (b) not to exceedtfae maxunum amoimt a lendo can
require undo RESPA. Lendo sfaaU estimate tfae amount of
Funds due on the basis ofcunent data and
reasonable estimates of eiqienditures of fiiture Escrow
Items or otberwisein accordance witfaApplicable
Law.
The Funds sfaaU be hdd in an instimtion whose deposits are insured by a federal agency,
instrumentality, or entity (including Lendo, if Lendo is an institution wfaose dqiosits are so insured) or in
any Federal Home Loan Bank. L o i d o sfaaU apply tfae Funds to pay the Escrow Items no lato tfaan tfae time
specifiedu n d o RESPA. Lendo diaU not cfaaige Borrower for holding and applying the Funds, annually
^lalyzing the escrow account, or verifying the Escrow Itons, unless L o i d o pays Borrowo interest on tfae
Funds and Applicable Law peimits L o i d o to make sucfa a cfaaige. Unless an agreonem is made in writing
or Applicable Law requires inteiest to be paid on the Funds, Loido shall not be requiied to pay Borrowo
any interest or earnings on tfae Funds. Boirowo and Lendo can agree in writing, howevo, that interest
TAM011616
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shall be paid on tfae Funds. Lendo sfaaU give to Borrower, witfaout charge, an annual accounting of the
Funds as required by RESPA.
Iftfaereis a surplus of Funds faeld in escrow,as definedundo RESPA. Lendei sfaaU account to
Borrowo for tfae excess fimds in accordance witfa RESPA. If tfaoe is a shortage of Funds hdd in escrow,
as defined undo RESPA, Lendo shaU notify Borrowo as required by RESPA, and Borrowo sfaaU pay to
Lender tfae amount necessary to make up tfae shoitage in accordance with RESPA. but in no man than
12
montfaly paymoits. If there is a deficiency of Funds held in escrow, as defined undo RESPA, Lendo shall
notifyBorrower as required by RESPA, and Boirowo shall pay to Lendo the aniount necessary to make
up tfae deficiency in accordance witfa RESPA, but in no more tluui 12 montfaly payinents.
Upon payment in fiiU of all sums sec:uied by tfais Security Instiument, Loido shaU pronqidy refimd
to Borrowo any Funds beld by Lendo.
4. Charges; Liois. Bonower shall pay aU taxes, assessments,diarges, fines, and inqiositions
attributable to tfae Property which can attain priority ovo this Security Instniment, leasdiold payments or
groimd rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To
tbe extent that tfaese items are Escrow Items. Bonowo sfaall pay tfaem in the manno provided in Section 3.
Borrowo shall pronqitiy discharge any lien which has priority ovo tfais Security Instiument unless
Borrower: (a) agrees in writing to tfae paymoit of the obligation secured by the Uen in a manno accqitable
to Lendo. but only so long as Borrowo is performing such agreonent; (b) contests the lioi in good faitfa
by. or defends against enforconoit of die lioi in. legal proceedings which in Lendo's (pinion operate to
prevoit the enforconent of tfae lien wfaUe tfaose proceedings are pending, but only untU sucfa proceedings
are concluded; or (c) securesfiromtfae holdo of tfae lien an agreement satisfactory to Lendo subordinating
tfae lioi to this Security Instiument. If Lender determines that any pan of the Property is subject to a lioi
whicfa can attain priority over this Security Instniment. Lendo may give Boirower a notics identifying tfae
lioi. Witfain 10 days of tfae date on wfaicfa tfaat notice is givoi, Borrowo shaU satisfy tfae lien or take one or
more of the actions set forth above in this Section 4.
Loider may requireBorrowo to pay a one-time diarge for a real estatetax verificationand/or
repoiting sovice used by Loido in connecticm witfa this Loan.
5. Propaty Insurance. Bonowo shaU keqi the inqirovemoits now existing oi hereafto erected on
the Property insuied against loss by fire, hazaids included within the tom
"extended c»verage," and any
otfaofaazaidsincluding, but not limited to, eaidiquakes and fioods, for wtudx Lendo recjuires insurance.
This insurance sfaall be maintained in tfae amounts (induding deductible levels) and for the periods that
Lendo requires. What Loider recjuires pursuant to tfae preceding sentences can change during tfae term of
tfae Loan. The insurance carrio providing tfae insurance sliaU be diosen by Borrowo subject to
Loido's
right to disapprove Borrowo's dioice,whidi right shaU not be exocised unreasonably. Lendo may
recjuireBonowo to pay, in connection witfathis Loan, dtfao: (a) a one-time cfaargefor fiood zone
detenmnation, cotificationand tiacking services; or (b) a one-time charge for flood zone determination
and certification
services and subsequent enlarges each time lemqipings oi sinular dianges occur whidi
reasonably might affect such deteimination or cotification.Borrower shaU also be responsible for die
payment of any fees inqiosed by tfae FederalEmeigoicy Managonoit Agency in connection witfatfae
review of any fiood zone determination resulting from an objection by Boirowo.
< ^ j f i - 6 A ( F U 100051.02 PaseBofie FomiSOlO 1/01
Book8883/Page4588 CFN#20060638902 Page 6 of 21
VIAGH)l:R.O8-12870-2 05A)6a008 04:50J4iim
DOC OR 8883/458.' Page7of2l
If Boirowo failsto maintain any of tfae coveragesdescribedabove, Lendo may obtain insurance
coverage, at Lendo's option and Boirowo's expense. Loido is undo no obligationto puidiase any
particular type or amount of coveiage. Therefore,
such coverage shaU covo Lendo, but might or might
not protect Boirower,Boirowo's ecjuity in tfae Property, or tfae contents of tfae Property, against any risk,
hazard or liability and migfat provide greato
oi lesso coverage tfaan was previouslyin efTect.Borrower
acknowledges that tfae cost
of tfae insurance coverage so obtained
migfatsignificantlyexceed tfae cost of
insurance tfaat Borrowo could have obtained. Any amounts disbursed by L o i d o undo tfais Secdon S sfaaU
become additional debt of Borrowo secuied by tfais Security Instrumoit. These amounts shaU bear interest
at the Note rate from the date of disbursemoit and shaU be payable, with sach intoest, upon notice
fiom
Lendo to Bonower recjuesting payment.
All insuiance policies required by Loido and loiewals of suc^ policies shall be subject to
Lendo's
rigfat todis^prove sucfapolicies,diaU includea standard mortgage clause,and shaU name Lencio as
mortgagee and/or as an additional loss payee. Lendo shaU faave the rigbt to faold tfae policies and renewal
certificates.
If Lendo requires, Bonower sliaU pronqitiy give to Lendo aU receipts of paid premiums and
renewal notices. If Borrowo obtains any form of insurance coverage, npt otheiwise recjuired by
Lendo,
for damage to, or destruction of,tfae Property,
suc^ poUcy shaU include a standard mortgage clause and
shaU name Lender as moitgagee and/oi as an adcUtional loss payee.
In tfae event of loss, Borrowo sfaaU give pronqit notice to tfae insurance cairio and Lendo.
Lendo
may make proof of loss if not made pronqitiy by Borrowo. Unless Lender and Borrowo otfaerwise agree
in writing, any insurance proceeds, wfadfao or not the undolying insurance was required by Lendo, shall
be applied to restoration or repair of the Property, if tfae restoration or rqiair is economically feasible and
Lendo's security is not lessened. During suc^ rqiair and i^toration period. Loido diall have tfae right to
hold sucfa insurance proceedsuntU Lendo faas faad an opportunityto inspect sucdi Property to ensure tfae
work faas been completed to Lendo's satisfaction,
provided tfaatsutdiinspection shaU be imdertaken
pronqitiy.Lendo may disburse proceeds for tfae rqiairs and restoration in a single payn^it
or in a soies
of progress paymoits as tbe work is cxinqil^ed. Unless an agreonent is made in writing or AppUcable Law
requires interest to be paid on sucfa insurance proceeds, Lendo shall not be required to pay Borrowo any
interestor earnings on such proceeds. Fees for pubUc adjusters,or otfao tfairdparties,retained by
Boirowo sliaU not be paid out of the insurance proceecls and shaU be tfae sole obUgation of Borrowo. If
tfae restoration or rqiair is not economicaUy feasible or Lendo's securify
would be lessened, tfae insurance
proceeds shaU be sqipUed to the sums secured by tfais Securify
Instnimoit,wfaetfao or not then due, with
tfae excess, if any, paid to Borrower. Sucfa insurance proceeds shall be applied in the order provided for in
Sectioa 2.
If Borrowo abandons tfae Propofy, Lendo may fUe, negotiateand settieany availableinsurance
claim and related matteis. If Borrowo does not respond witfain 30 days to a notice from
Lendo tfaat die
insurance cairio has offeredto sode a claim, dioi Loido may negotiate and settie the claim. The 30-day
period wiU begin when tbe notice isgiven. In dtfao event, or ifLendo acquires tfae Propofy undo
Section 22 or otheiwise, Bonowo hodiy assigns to Lendo (a)Borrowo's rightsto any insurance
proceeds in an amount not to exceed the amounts unpaid u n d o tfae Note or this Securify
Instiumoit, and
(b) any otbo of Boirowo's rights(otho thantfaeright to any refund of unearned premiums paid by
Boirower) u n d oaU insurance policies covering tfae Propeify,
insofar as such rights are qiplicable to the
coverage of the Propeify.Lendo may use the insurance proceeds d t h o to rqiair or restore the Properfy or
to pay amounts unpaid u n d o the Note or tfais Securify Instrument, wfaether or not then due.
Preview
£)103 IN THE CIRCUIT COURT OF THE 9th JUDICIAL CIRCUIT, IN AND FOR ORANGE COUNTY, FLORIDA GENERAL JURISDICTION DIVISION (S) ^ A S E N ^ ^ ^ ^ ^ ^ ^ ^ ^ / ^ - jZat] j ^ U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE STRUCTURED ASSET SECURITIES CORPORATION MORTGAGE PASS-THROUGH - ^ 3 ^ CERTIFICATES, SERIES 2006-BC4 PLAINTIFF VS. GEORGE J. GIALLANZO; LORI A. GIALLANZO; ANY AND ALL UNKNOWN PARTIES CLAIMING BY, THROUGH, UNDER, AND AGAINST THE HEREFN NAMED INDIVIDUAL DEFENDANT(S) WHO ARE NOT KNOWN TO BE DEAD OR ALIVE , WHETHER SAID UNKNOWN PARTIES MAY CLAIM AN FNTEREST AS SPOUSES, HEIRS, DEVISEES, GRANTEES OR OTHER £2 CD CLAIMANTS; JOHN DOE AND JANE DOE AS UNKNOWN TENANTS IN CX> Z^ POSSESSION 233 —< rr-\ .^-J f\> O o i-n — ZO ' , r ~D COMPLAINT TO FORECLOSE MORTGAGE ; —^CD •' zs. ~-n AND TO ENFORCE LOST LOAN DOCUMENTS f-o!Z! TT • czz--^ CZ) Plaintiff, sues the Defendant(s) and alleges: ZO C*> —f Ol COUNTI THIS IS AN ACTION to foreclose a Mortgage on real property in ORANGE County, Florida. This Court has jurisdiction over the subject matter herein. On SEPTEMBER 15, 2006 GEORGE J. GIALLANZO executed and delivered a Promissory Note and GEORGE J. GIALLANZO AND LORI A. GIALLANZO, HIS WIFE executed and delivered a BALLOON Mortgage securing payment ofthe Note to the Payee named thereon. 4. The Mortgage was recorded on SEPTEMBER 26,2006 in Official Records Book 8883 at page 4583, ofthe Public Records ofORANGE County, Florida, and mortgaged the property described in it, then owned by 8 and possessed by the Mortgagors, a copy ofthe Mortgage AND NOTE ARE attached hereto as "Exhibit "A". Said mortgage was subsequently assigned to U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE STRUCTURED ASSET SECURITIES CORPORATION MORTGAGE PASS- THROUGH CERTIFICATES, SERIES 2006-BC4 by virtue of an assignment to be recorded. 5. The Plaintiff owns and holds the Note and Mortgage. 6. The property is now owned by the Defendant(s), GEORGE J. GIALLANZO AND LORI A. GIALLANZO , if living and if dead, the unknown spouses, heirs and beneficiaries of GEORGE J. GIALLANZO AND LORI A. GIALLANZO who hold(s) possession. 7. There is a default under the terms ofthe note and mortgage for the FEBRUARY 01, 2008 payment and all payments due thereafter. All conditions precedent to the acceleration ofthis Mortgage Note and to foreclosure ofthe Mortgage have been fulfilledor have occurred. 9. The Plaintiff declares the ftill amount payable under the Note and Mortgage to be due. 10. The borrowers owe Plaintiff $141,817.63 that is due in principal on the Mortgage Note and Mortgage, together with interest from JANUARY 01, 2008 late charges, and all costs of collection including title search expenses for ascertaining necessary parties to this action and reasonable attomey's fees. 11. Plaintiffisobligated to pay its attomey a reasonable fee for his services rendered. 12. Defendants, John Doe and Jane Doe, may claim an interest in the property described in the Mortgage as tenants pursuant to a lease agreement, either written or oral.Said interest is subject, subordinate, and inferior to the lien ofthe Mortgage held by Plaintiff. 13. In addition to all other named defendants, the unknown spouses, heirs, devisees, grantees, assignees, creditors, trustees, successors in interest or other parties claiming an interest in the subject property by, through under or against any of said defendants, whether natural or corporate, who are not known to be alive or dead, dissolved or existing, are joined as defendants herein.The claims ofany ofsaid parties are subject, subordinate, and inferior to the interest of Plaintiff WHEREFORE, Plaintiff prays: That an accounting may be had and taken under the direction ofthis Court of what is due the Plaintifffor principal and interest on said Mortgage and Mortgage Note, and for the costs, charges and expenses, including attomey's fees and title search costs, and advancements which Plaintiff may be put to or incur in and about this suit, and that the Defendants found responsible for same be ordered to pay the Plaintiff herein the amounts so found to be due it; that in default of such payments, all right, title, interest, claim, demand, or equity of redemption ofthe Defendants and all other persons claiming by, through, under or against said Defendants since the filing oftheLis Pendens herein be absolutely barred and foreclosed and that said mortgage property be sold under the direction ofthis Court; that out ofthe proceeds ofsaid sale, the amounts due the Plaintiff may be paid so far as same will suffice;and that a deficiency judgment be entered if applicable and only in the event no Order of Discharge of Personal Liability in Bankruptcy has been entered as to any ofthe Defendants who signed the subject Note and Mortgage and a Writ of Possession be issued. COUNT II 14. This is an action to enforce a lost, destroyed or stolen promissory note and Mortgage under Fla.Stat. §673.3091. 15. On SEPTEMBER 15, 2006 GEORGE J. GIALLANZO executed and delivered a Promissory Note and GEORGE J. GIALLANZO AND LORI A. GIALLANZO, HIS WIFE executed and delivered a BALLOON Mortgage securing payment ofthe Note to the Payee named thereon. 16. The Mortgage was recorded on SEPTEMBER 26, 2006 in Official Records Book 8883 at page 4583, ofthe Public Records ofORANGE County, Florida, a substantial copy ofthe Mortgage being attached hereto as composite Exhibit "A" to the Plaintiffs original Complaint herein. 17. The Plaintiffis not presently in possession ofthe original Note and Mortgage. However, a) the Plaintiffwas in possession ofthe Note and Mortgage and was entitled to enforce them when the loss of possession occurred; b) the loss of possession was not the resuh of a transfer by Plaintiff or lawftil seizure; and c) the Plaintiff cannot reasonably obtain possession ofthe Note and Mortgage because their whereabouts cannot be determined. 18. A copy ofthe Note is attached hereto as Exhibit "A". 19. The Plaintiff will agree to entry ofaFinal Judgment ofForeclosure wherein it will be required to indemnify and hold harmless Defendant(s) GEORGE J. GIALLANZO from any loss they may incur by reason ofa claim by another person to enforce the lost Note and Mortgage. WHEREFORE, PlaintifFrequests entry of judgment confirming its right to enforce the lost Note and Mortgage under Fla. Stat.§673.3091. TO ALL DEFENDANTS: PLEASE NOTE EFFECTIVE OCTOBER 13, 2006, 15 U.S.C. §1692G OF THE FAIR DEBT COLLECTION PRACTICES ACT HAS BEEN AMENDED AS FOLLOWS: (a) LEGAL PLEADINGS - Section 809 ofthe Fair Debt Collection Practices Act (15 U.S.C. 1692g) is amended by adding at the end the following new subsection: "(d) Legal Pleadings — A communication in the form ofa formal pleading in a civil action shall not be treated as an initial communication for purposes of subsection (a)." IY C. KILBOURNE Law Offices of David J. Stem, P.A. Attomey for Plaintiff 900 South Pine Island Road SUITE 400 Plantation, FL 33324-3920 (954)233-8000 08-53424(ASCF) Bar #:0044349 F:\GROUPS\FCDOCS\COMPLAIN\08\08-S3424,CMP VIAGEOI: Fl,08-12870-2 ()5fl)6/2008 04:50:24pm D O C OR 8883/458? P3gelor2l imiiiiiigiiiiiiiiiiiiiiiiiiiijiiiiii Return To: INSTR 20O&0&3a9e2 OR BK 08883 P6 4583 PGS=21 BNC MORTGAGE, INC. MflRTHft 0. HflYNIE, COMPTROLLER P.O. BOX 19656 ORANGE COUNTY, FL IRVZNK, CA 92623-9656 09/26/20B& 01:50:53 PM MTG DOC TflX 498.40 INTflNG TflX 284.70 This document was prepared by: REC FEE 180.00 -{Space Above This Line For Recording Data]- MORTGAGE MIN 100122200002812128 Loan No. : TAM011616 DEFINITIONS Words used in multiple sections of thisdocument are defmed below and other words are defined in Sections 3,11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security fnstniment" means diis document, which is dated S e p t e m b e r 15,2006 together with all Rideis to this document. (B) "Borrowo-" is GECHIGE J. GIALLANZO A N D LORI A. GIALLANZO, HIS HIFE. Borrower is the mortgagor under this Security Instniment. (Q "MERS" is Mortgage ElectronicRegistration Systems, Inc.MERS is a separate c»iporationthatis acting solelyas a nominee for Lender and Lender's successorsand assigns.MERS isthe mortgagee under this Security instrumoit. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026. tel. (888) 679-MERS. (D) "Lender" is ENC MORTGAGE, INC: , A DELAHARE CORPORATION TAM011616 FLORIOA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMOIT WITH MERS FormSOlO 1/01 rtBfe> -6A(FL| (00051.02 Page l o f 16 ^ ' ^ Initials:. ^ C ^ . & V M P MORTGAGE FORMS - (SOOIS21-7291 -. ll^ '' Book8883/Page4583 CFN#20060638902 Page 1 of 21 MAGBOl :FW)8-l2870-2 05A»2008 04:50-J4pm D O C OR888V4583 Lender is a corporation organized and existing under the laws of Delaware Loider's address is P.O. BOX 19656, IRVIME, CA 92623-9656 (E) "Note" means the promissory note signed by Borrower and dated September 15, 2006 The Note states that Borrower owes Lender one hundred forty-two thousand three hundred fifty and 00/100 Dollars (U.S. $ 142,350.00 ) plus interest. Borrower has promised to pay this debt inregularPeriodic Payments and to pay the debt in full not later tfaan October 1, 2036 (F) "Property" means the property that is described below under the heading"Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due imder the Note, and all sums due under this Security Instrtmient, plus interest. (H) "Riders" means all Riders to this Security Instiumoit that are executed by Borrower. The following Riders are to be executed by Borrower [check box as qiplicablej: I Tt I Adjustable Rate Rider LI] Condominium Rider LZI Second Home Rider im Balloon Rider CZI Planned Unit Development Rider CZI 1-4 Family Rider CZI VA Rider CZ] Biweddy Payment Rider E OthCT(s) (specify] Pr^>ayment Penalty Rider (I) "Applicable Law" means all controllingapplicable federal,state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessmoits" means all dura, fees, assessments and other charges that are inqiosed on Boirower or the Property by a condominium association,homeowners association or similar organization. (K) "Electronic Ftmds Transfer" n^ans any tiansferof fimds, other than a transactionoriginated by check, draft,or similar pqier instmmoit, wfaidiis initiated tfaroughan electronic terminal,tdephonic instrumoit, conqiuter, or magnoic t^ie so as to order, instruct, or authorize a financial institution to 6doit or credit an accoimt.Such teim includes, but is not liinited to, point-of-sale transfers,automated tello machine transactions,transfers initiatedby telqihone. wire transfers,and automated clearinghouse transfers. (L) "Escrow Itons" means those itons that are described in Section 3. (M) "MisceUaneous Proceeds" means any conqiensation, settlement, award of damages, or proceeds paid by any third party (othei than insuiance proceeds paid undo tbe coverages described in Section S) for: (i) damage to, or destruction of,the Propeity; (ii) condemnation or other taking ofall or any pan of tfae Propeity; (iii) conveyance in lioi of condonnation; or (iv) misrepresoitations of, or omissions as to, tfae value and/or condition of die Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpaymoit of, or default on, theLoan. (O) "Poiodic Payment" means tfaeregularlyscfaeduled amount due for (i) principal and interest under tfae Note, plus (ii) any amounts under Section 3 of tfais Security Instmmoit. <1gf[J>-6A(FU 100051.02 Paoe 2 of 16 ^-^ FormSOlO 1/01 Book8883/Page4584 CFN#20060638902 Page 2 of 21 MAGBOl :FU)8-I2870-2 05AW200804:50-J4pm DOC:OR8883/458' Pa^3af21 (P) "RESPA" means tfae Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation. Regulation X (24 C.F.R. Pan 3500). as tfaey migfat be amended fiom time to time, or any additional or successor legislation orregulationtfaat governs tfae same subject matto. As used in tfais Security Instrument, "RESPA" refers to all requirements and restrictions tfaat are inqiosed in regard to a "federallyrelated mongage loan" even if tfae Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrowo-" means any party tfaat has takoi title to the Property, whether or not tfaat partyfaasassumed Borrowo's obligations undo the Note and/or tfais Security InsUument. TRANSFER OF RIGHTS IN THE PROPERTY Tfais Security Instniment secures to Lendo: (i) tfae repayment of tfae Loan, and all renewals, extensions and modifications of the Note; and (ii) tfae performance of Borrower's covenants and agreements imder this Security Instrument and tfae Note. For this puipose, Bonowo does hereby mongage, grant and convey to MERS (solely as nominee for Lendo and Loido's successors and assigns)and to tfaesuccessors and assigns of MERS, the following described property located in tfae COtJNTZ [Type of Recording Jurisdiction] ofORANGE, ETiOROIA [Nameof Recording Jurisdiction]: LOT 1247, SKY LAKE- UNIT TEN, ACCORDING TO THE PLAT THEBEOF AS RECORDED IN PLAT BOOK 2, PAGE 135 OF THE POBLIC RECORDS OF ORANGE COUNTY, FLORIDA. Parcel ID Number: wfai(± currently has tbe address of 634 MAROT ST [Street] ORLANDO [City], Florida32809 [ZipCode] ("Property Address"): TOGETHER WITH all tfaeinqirovonents now or hereaftererected on the property, and all easonents. ^qnntenances, and fixtures now or hereafto a partof the propei^. AU replaconoits and additions s h ^also be covered by this SecurityInstnmKnt. AU of die foregoingis referred to in diis Security Instrument as Ifae "Propeity." Bonowo undeistands and agrees that MERIS holds only legal title to the interests granted by Boirowo in this Security Instrumoit, but, if necessaiy to conniy witfa law or custom, MERS (as nominee for Loider and Lendo's successors and assigns) has the right: to exercise any or all of tbose intoests, including, but not limited to. tfae right to foreclose and seU tfae Propeity; and to take any action required ofLendo including, but not limitedto, releasing and cancelingtfais Secnrity Instrumoit. t-6A(FI.) 100051.02 PugeSofie *^ ~-^ FormSOlO 1/01 Book8883/Page4585 CFN#20060638902 Page 3 of 21 HAGBOI: FL.08-12870-2 05A)6a008 04-.5(y2Apm D O C OR 8883M583 P»ge4 of 21 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, excqit for oicumbrances of record. Borrowo warrants and wUl defend generally tfae title to tfae Propeity against all claims and demands, subject to any oicumbrances of record. THIS SECURITY INSTRUMENT combines unifoim covenants fornational use and non-uniibrm covenants with limited variations by jurisdiction to constitute a unifonn security instiument covering real propoty. UNIFORM COVENANTS. Borrowo and Lender covenant and agree as follows: 1. Paymoit of Principal, Intoest, Escrow Items, Prepayment Charges, and Late Charges. Bonowo shaU pay wfaen due the principalof, and interest on, tfae debt evidoicedby tfae Note andany prepayment cfaarges and late cfaarges due u n d o tfae Note. Boirowo sfaaU also pay fimds foi Escrow Items pursuant to Section 3. Payments due undo tfae Note and tfais Security InstnuiKnt sbaU be made in U.S. currency. However, if any check or otho instrument received by Lender as paymoit undo the Note or this Security Instrument is retumed to Lendo unpaid, Lendo may require diat any or all subsequent paymoits due undo the Note and thisSecurity Instrument be made in one or more of tbe foUowing forms, as selected by Lendei: (a)casfa;(b) money ordo; (c) cotifiedcfaeck, bank cfaeck,treasurer's, checkor casfaio'scheck, provided any such cfaeckisdrawn u|)on an institution wfaose dqiositsare insuredby a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lendo when received at tfae location designated in tfae Note or at such otfao location as may be designated by Lendo in accoidance witfa tfae notice provisions in Section 15. L o i d o may rOum any payment or paitial payment if the payment or paitial paymoits are insufficient to bring the Loan current.Lendo may accept any payment or partial payment insufficientto bring tfae Loan current, witfaout waivo of any rights faeromder or prejudice to its rights to refiise such paymoit or paitial payinents in the future, but Lender is not obligated to qiply sudi paymoits at die time such payments are accqited. Ifeach PeriodicPayment is qiplied as ofits scheduled due date,tfaen Lendo need not pay intoest on um^plied fimds. L o i d o may hold such unqiplied fiinds untU Bonowo makes paymoit to bring the Loan current. If Borrowo does not do so witfain a reasonable period of time, Lendo shaU eitho iqiply sudi fiinds or retuni tfaem to Boirowo. If not qipUed eariio, su<^ fimds wiU be qipUed to the outstanding principalbalance u n d o the Note immediately priorto foreclosure.No ofEset or claim vMdt Borrower might faave now or in the fiimre against LendosfaaU relieve Boirowo fiom making paymoits due undo tfae Note and tfais Security Instrument or performing the covenants and agreements secured by tfais Security Instnimoit. 2. AppUcation of Faymoits or Proceeds. Excqit as otfaerwisedescribed in tfais Section 2, aU paymoits accqited and appUed by Lendo sfaaU be ^iplied in the foUowing o r d oof priority: (a) interest due undo tfae Note; (b) principal due undothe Note; (c) amounts (hie undo Section 3. Sucdi paymoits sfaaU be qipUed to eadi Periodic Payment in tfae ordoin wiaiA it became due. Any ronaining amounts sfaaU be qipUed first to late charges, second to any otho amounts due undo tbis Security Instiument, and tfaoi to reduce the prindpal balance of tfae Note. If Lender receivesa paymem fiom Boirowo fora delinquent Poiodic Paymoit v^cfa includesa sufficientamount to pay any late cfaarge due, tfae payment may be qqilied to tfae delinquent paymoit and tfae late charge. If more than one Periodic Payment is outstanding, Lendo may ^iply any payment received from Bonowo to the iq)ayment of tfaePeriodic Payments if, and to tfaeextoit that,eacfa payment <^j[J>-6AtFL> (00051.02 p«8e4oii6 ^^ FormSOlO 1/01 Book8883/Page4586 CFN#20060638902 Page 4 of 21 .lAGEOI:FL.08-12870-2 05A)6/200804:50-.24pm DOC:OR8883/458? Page5of21 can be paid in full. To tfae extoit diat any excess exists afto the payinent is applied to the fiill payment of one or more Periodic Payments, sudi excess may be ^iplied to any late diarges due. Voluntary prqiaymoits sfaaU be applied first to any prepayment (diarges and tfaen as described in the Note. Any application of payments, insurance proceeds, or MisceUaneous Proceeds to prindpal due undo tfae Note sfaall not extend or postpone tfae due date, or diange tfae amount, of the Periodic Paymoits. 3. Funds for Escrow Items. Borrowo shall payto Loider on the day PeriodicPaynKnts are due undo tfae Note, untU tfae Note is paid in fidl, a sum (the "Fimds") to provide for paymoit of ainounts due for: (a) taxes and assessments and otfao items which can attain priority over this Sanirity Instmmoit as a lien or encumbrance on the Propoty; (b) leasdiold payments or ground rents on die Property, if any; (c) proniums forany and aU insurance requiied by Lendo under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender inUoi of the payment of Mongage Insurance premiums inaccoidance witfathe provisionsof Section 10. These items arecalled "Escrow Items." At originationor at any time during the term of tfae Loan, Lendo may require tfaat Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrowo. and such dues, feesand assessments shaU be an Escrow Item. Borrowo sfaaU promptly furnisfato Lendo aU notices of amounts to be paid undo tfais Section. Borrowo sfaall pay Lendo tfae Funds for Escrow Items unless Lender waives Borrower's obligationto pay tfaeFunds for any or aU Escrow Items. Lendo may waive Borrowo's obligation to pay to Loider Funds for any or all Escrow Items at any time. Any sucfa waivo may only be in writing. In tfae event of sucfa waivo. Borrower shall pay directly, wfaen and wfaere payable, tfae amounts due for any Escrow Items for wfaicfa payment of Funds faas been waived by Lendo and, if Lendo requires, sbaU fiunisfa to Lendo receipts evidoidngsucfa payment witfain sach time period as Lendo may requiie. Borrower's obligation to make sucfa paymoits and to provide receipts sfaall for aU purposes be deemed to be a covoiant and agreemoit contained in this Security Insmimoit, as tfae pfarase "covenant and agreement" is used in Section9. If Borrower is obligatedto pay Escrow Itons direcdy, pursuam tb a waivo. and Bonowo falls to pay tfae amount due for an Escrow Item, Lendo may exocise its rigfats u n d o Section 9 asd pay such amount and Boirowo sfaaU tfaen be obUgated u n d o Section 9 to rqiay to L o i d o any sucfa aoiount. Lendo may revoke tfae waivo as to any or aU Escrow Itonsat any time by a notice given in accordance witfaSection IS and, upon sucfarevocation.Borrowo shall payto Lender aU Funds, and in such amounts, tbat are tfaen required u n d o this Section 3. L o i d o may. at any time, collect and faold Funds in an amount (a) sufficient to permit Loido to ^>ply the Funds at tfae time specified undo RESPA, and (b) not to exceedtfae maxunum amoimt a lendo can require undo RESPA. Lendo sfaaU estimate tfae amount of Funds due on the basis ofcunent data and reasonable estimates of eiqienditures of fiiture Escrow Items or otberwisein accordance witfaApplicable Law. The Funds sfaaU be hdd in an instimtion whose deposits are insured by a federal agency, instrumentality, or entity (including Lendo, if Lendo is an institution wfaose dqiosits are so insured) or in any Federal Home Loan Bank. L o i d o sfaaU apply tfae Funds to pay the Escrow Items no lato tfaan tfae time specifiedu n d o RESPA. Lendo diaU not cfaaige Borrower for holding and applying the Funds, annually ^lalyzing the escrow account, or verifying the Escrow Itons, unless L o i d o pays Borrowo interest on tfae Funds and Applicable Law peimits L o i d o to make sucfa a cfaaige. Unless an agreonem is made in writing or Applicable Law requires inteiest to be paid on the Funds, Loido shall not be requiied to pay Borrowo any interest or earnings on tfae Funds. Boirowo and Lendo can agree in writing, howevo, that interest TAM011616 -6A(FL| (00051.02 Paso 5i ooff 16' " ^ ^ *^ ^ F«wm 3 0 1 0 1/01 Book8883/Page4587 CFN#20060638902 Page 5 of 21 'lAGBOI:FU)8-l2870-2 05A)6«00804J0-J4pm DOC:OR8883/4583 Page6of21 shall be paid on tfae Funds. Lendo sfaaU give to Borrower, witfaout charge, an annual accounting of the Funds as required by RESPA. Iftfaereis a surplus of Funds faeld in escrow,as definedundo RESPA. Lendei sfaaU account to Borrowo for tfae excess fimds in accordance witfa RESPA. If tfaoe is a shortage of Funds hdd in escrow, as defined undo RESPA, Lendo shaU notify Borrowo as required by RESPA, and Borrowo sfaaU pay to Lender tfae amount necessary to make up tfae shoitage in accordance with RESPA. but in no man than 12 montfaly paymoits. If there is a deficiency of Funds held in escrow, as defined undo RESPA, Lendo shall notifyBorrower as required by RESPA, and Boirowo shall pay to Lendo the aniount necessary to make up tfae deficiency in accordance witfa RESPA, but in no more tluui 12 montfaly payinents. Upon payment in fiiU of all sums sec:uied by tfais Security Instiument, Loido shaU pronqidy refimd to Borrowo any Funds beld by Lendo. 4. Charges; Liois. Bonower shall pay aU taxes, assessments,diarges, fines, and inqiositions attributable to tfae Property which can attain priority ovo this Security Instniment, leasdiold payments or groimd rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To tbe extent that tfaese items are Escrow Items. Bonowo sfaall pay tfaem in the manno provided in Section 3. Borrowo shall pronqitiy discharge any lien which has priority ovo tfais Security Instiument unless Borrower: (a) agrees in writing to tfae paymoit of the obligation secured by the Uen in a manno accqitable to Lendo. but only so long as Borrowo is performing such agreonent; (b) contests the lioi in good faitfa by. or defends against enforconoit of die lioi in. legal proceedings which in Lendo's (pinion operate to prevoit the enforconent of tfae lien wfaUe tfaose proceedings are pending, but only untU sucfa proceedings are concluded; or (c) securesfiromtfae holdo of tfae lien an agreement satisfactory to Lendo subordinating tfae lioi to this Security Instiument. If Lender determines that any pan of the Property is subject to a lioi whicfa can attain priority over this Security Instniment. Lendo may give Boirower a notics identifying tfae lioi. Witfain 10 days of tfae date on wfaicfa tfaat notice is givoi, Borrowo shaU satisfy tfae lien or take one or more of the actions set forth above in this Section 4. Loider may requireBorrowo to pay a one-time diarge for a real estatetax verificationand/or repoiting sovice used by Loido in connecticm witfa this Loan. 5. Propaty Insurance. Bonowo shaU keqi the inqirovemoits now existing oi hereafto erected on the Property insuied against loss by fire, hazaids included within the tom "extended c»verage," and any otfaofaazaidsincluding, but not limited to, eaidiquakes and fioods, for wtudx Lendo recjuires insurance. This insurance sfaall be maintained in tfae amounts (induding deductible levels) and for the periods that Lendo requires. What Loider recjuires pursuant to tfae preceding sentences can change during tfae term of tfae Loan. The insurance carrio providing tfae insurance sliaU be diosen by Borrowo subject to Loido's right to disapprove Borrowo's dioice,whidi right shaU not be exocised unreasonably. Lendo may recjuireBonowo to pay, in connection witfathis Loan, dtfao: (a) a one-time cfaargefor fiood zone detenmnation, cotificationand tiacking services; or (b) a one-time charge for flood zone determination and certification services and subsequent enlarges each time lemqipings oi sinular dianges occur whidi reasonably might affect such deteimination or cotification.Borrower shaU also be responsible for die payment of any fees inqiosed by tfae FederalEmeigoicy Managonoit Agency in connection witfatfae review of any fiood zone determination resulting from an objection by Boirowo. < ^ j f i - 6 A ( F U 100051.02 PaseBofie FomiSOlO 1/01 Book8883/Page4588 CFN#20060638902 Page 6 of 21 VIAGH)l:R.O8-12870-2 05A)6a008 04:50J4iim DOC OR 8883/458.' Page7of2l If Boirowo failsto maintain any of tfae coveragesdescribedabove, Lendo may obtain insurance coverage, at Lendo's option and Boirowo's expense. Loido is undo no obligationto puidiase any particular type or amount of coveiage. Therefore, such coverage shaU covo Lendo, but might or might not protect Boirower,Boirowo's ecjuity in tfae Property, or tfae contents of tfae Property, against any risk, hazard or liability and migfat provide greato oi lesso coverage tfaan was previouslyin efTect.Borrower acknowledges that tfae cost of tfae insurance coverage so obtained migfatsignificantlyexceed tfae cost of insurance tfaat Borrowo could have obtained. Any amounts disbursed by L o i d o undo tfais Secdon S sfaaU become additional debt of Borrowo secuied by tfais Security Instrumoit. These amounts shaU bear interest at the Note rate from the date of disbursemoit and shaU be payable, with sach intoest, upon notice fiom Lendo to Bonower recjuesting payment. All insuiance policies required by Loido and loiewals of suc^ policies shall be subject to Lendo's rigfat todis^prove sucfapolicies,diaU includea standard mortgage clause,and shaU name Lencio as mortgagee and/or as an additional loss payee. Lendo shaU faave the rigbt to faold tfae policies and renewal certificates. If Lendo requires, Bonower sliaU pronqitiy give to Lendo aU receipts of paid premiums and renewal notices. If Borrowo obtains any form of insurance coverage, npt otheiwise recjuired by Lendo, for damage to, or destruction of,tfae Property, suc^ poUcy shaU include a standard mortgage clause and shaU name Lender as moitgagee and/oi as an adcUtional loss payee. In tfae event of loss, Borrowo sfaaU give pronqit notice to tfae insurance cairio and Lendo. Lendo may make proof of loss if not made pronqitiy by Borrowo. Unless Lender and Borrowo otfaerwise agree in writing, any insurance proceeds, wfadfao or not the undolying insurance was required by Lendo, shall be applied to restoration or repair of the Property, if tfae restoration or rqiair is economically feasible and Lendo's security is not lessened. During suc^ rqiair and i^toration period. Loido diall have tfae right to hold sucfa insurance proceedsuntU Lendo faas faad an opportunityto inspect sucdi Property to ensure tfae work faas been completed to Lendo's satisfaction, provided tfaatsutdiinspection shaU be imdertaken pronqitiy.Lendo may disburse proceeds for tfae rqiairs and restoration in a single payn^it or in a soies of progress paymoits as tbe work is cxinqil^ed. Unless an agreonent is made in writing or AppUcable Law requires interest to be paid on sucfa insurance proceeds, Lendo shall not be required to pay Borrowo any interestor earnings on such proceeds. Fees for pubUc adjusters,or otfao tfairdparties,retained by Boirowo sliaU not be paid out of the insurance proceecls and shaU be tfae sole obUgation of Borrowo. If tfae restoration or rqiair is not economicaUy feasible or Lendo's securify would be lessened, tfae insurance proceeds shaU be sqipUed to the sums secured by tfais Securify Instnimoit,wfaetfao or not then due, with tfae excess, if any, paid to Borrower. Sucfa insurance proceeds shall be applied in the order provided for in Sectioa 2. If Borrowo abandons tfae Propofy, Lendo may fUe, negotiateand settieany availableinsurance claim and related matteis. If Borrowo does not respond witfain 30 days to a notice from Lendo tfaat die insurance cairio has offeredto sode a claim, dioi Loido may negotiate and settie the claim. The 30-day period wiU begin when tbe notice isgiven. In dtfao event, or ifLendo acquires tfae Propofy undo Section 22 or otheiwise, Bonowo hodiy assigns to Lendo (a)Borrowo's rightsto any insurance proceeds in an amount not to exceed the amounts unpaid u n d o tfae Note or this Securify Instiumoit, and (b) any otbo of Boirowo's rights(otho thantfaeright to any refund of unearned premiums paid by Boirower) u n d oaU insurance policies covering tfae Propeify, insofar as such rights are qiplicable to the coverage of the Propeify.Lendo may use the insurance proceeds d t h o to rqiair or restore the Properfy or to pay amounts unpaid u n d o the Note or tfais Securify Instrument, wfaether or not then due.