_ |cTHe cIRCUTT COURT OF THE 1 ITH JUDICIAL CIRCUIT, IN AND FOR BREVARD COUNTY, FLORIDA CIVIL DIVISION CASE NO 8.2007 A. 0CYICE. _ xxxenx LASALLE BANK __NATIONAL ASSOCIATION, AS” TRUSTEE ON BEHALF OF GSAA HOME EQUITY TRUST — 2006-14 ASSET-BACKED. {ok Sutable for imagen CERTIFICATES SERIES 2006-14, Plaintiff, ws gi 11a 11098 LISA MATOS, UNKNOWN TENANT (S), IN POSSESSION OF THE SUBJECT PROPERTY, ze ad EC 190 Mit Defendants COMPLAINT ‘The Planuff, LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE ON BEHALF OF GSAA HOME EQUITY TRUST 2006-14 ASSET-BACKED CERTIFICATES SERII sues the Defendants named in the caption hereof and alleges § 2006-1 counr T i ‘This 1s an action to foreclose a mortgage on real property in BREVARD County, Florida 2 ‘On May 26,2006, LISA MATOS executed and delivered a promissory note and Purchase Money Mortgage securing payment ofthe same to MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INCORPORATED AS NOMINEE FOR MFC MORTGAGE INC OF FL. which mortgage was recorded in the Official Records Book $652, Page 8678, ofthe Public Records of BREVARD County, Florida and which mortgaged the property described therein, then. ‘owned by and i possession of said mortgagor Said mortgage was subsequently assigned to, LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE ON BEHALF OF GSAA HOME EQUITY TRUST 2006-14 ASSET-BACKED CERTIFICATES SERIES 2006-14 A copy of the note, assignment and mortgage are attached hereto and made a part hereof Plaintiff isthe owner of said note Defendant(s), LISA MATOS, own(s) the property ‘There has been a default under the note and mortgage held by Plant mn that the payment due November 01, 2008 and all subsequent payments have not been made Plaintiff declares the full amount due under the note and mortgage to be now due All conditions precedent to the filing of this action has been performed or has occurred. Case # 05-2009-CA-06 4368. X000-XK iii oot Sree(@) ) ©) @ ) (f) ‘There 1s now due, owing and unpaid tothe Plaintiff a ofthe date of the fling of this complaint the following amounts on pesneipal of said note and mortgage unpaid principal balance § 173,027 28, plus intrest, escrow, tite search expenses for ascertaning necessary partes to this sut, itl search, title exam, filg fee, and attomeys fees and costs Plaintiff has obligated itself to pay the undersigned attorneys @ reasonable fee for thew services herein, Pursuant to the loan documents Planuffs entitled to an award of attorneys fees Defendants, s UNKNOWN TENANT (6), n possession of the subject property, may claim some interest n oF len upon the subject property arising from beg m actual possession of same, but interest, sfany, 1s subject and inferior tothe hen of Plantiff's mortgage WHEREFORE, Plaintiff prays as follows That ths Court wall take unsdiction ofthis cause, the subject matter and the parties hereto ‘That this Court ascertam and determine the sums of money due and payable tothe Plaintiff from the Defendant(s), including without limitation prinerpal, anterest, advances, attorney fees, and costs pursuant to the loan documents ‘That the sum of money found to be due as aforesaid be deereed by this Court to be a ten upon the lands deseribed in Plantff's mortgage “That such len be foreclosed mn accordance with the rules and established practice ofthis Court, and upon fatlure ofthe Defendants to pay the amount of money found to be due by them to the Plamtff, the said land be sold to satisfy saud ren ‘That this Court decree that the len ofthe Plaintiff 1s superior to any and alight, title or interest of the Defendants herein or any person or parties clauming by, through or under them since the institution ofthis suit That all ight, ttle oF mterestof the Defendants or any person claiming by, through or under therm be forever barred and foreclosed 09-9291(g) That this Court grants general relief in this cause as in ats discretion might be just and proper including, but not limited to, a deficiency judgment, except where a discharge 1s applicable, ifthe proceeds of the sale are insufficient to pay Plaintff's claim 09-49291 Law Offices of Marshall C Watson, P A. 1800'N W 49™ Street, Suite 120 Fort Lauderdale, FL 33309 Telephone (954) 453-0365 (800) 441-2438 Facsimile (954) 771-6052 ian Williams Bar #60627 By Angela Vittigho, Esq Bar Number 51657 \Managing Attorneys ‘Telephone (954) 453 0365, Marshall Watson Caryn A Graham Associate Attorneys Facsmule (984) 71-6052 Associate Attorneys ‘Seno Ams Com mer fact Ame ‘ay Rt (nS Bam LAW OFFICES og ation fs ator OF Magsnatt € Watson Tonks ‘ne ty Re City Bosak Fram fama faves caren 1 Nowra west 4 ce eben Nan Cano ORT LACDERDALES FLORIDA 3009 ace Sa tes cute anes tds chan toanshep Gens Dalae Naim soph Natale Denesmn at Spats Chere Lo Kare A Thon int Fl Ne! Vanden ‘ome Gata Asoc Attorney Levante Ge anol ‘a ar sre Vago Eery ore nu Koval "a ie Sea West Cobae sare Km Keer on Denar a Star ns fe Nran Praia Moma A Wing Mak tne Sk Mtl hades Gc ose soy Mer SecbNece Te ar Nat Mone Wm Ons Newan orcaumet Vedat sd ee ao besa en sean October 15, 2009 RE NOTICE REQUIRED BY THE FAIR DEBT COLLECTION PRACTICES ACT 15USC SECTION 1692, AS AMENDED Property Address 1361 RABBIT STREET SE PALM BAY, FL 32909 Owner LISA MATOS Mortgagor LISA MATOS Our File # 09-4929 ‘The Plaintiff, LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE ON BEHALF OF GSAA HOME EQUITY TRUST 2006-14 ASSET-BACKED CERTIFICATES SERIES 2006-14, 1s the creditor to whom the debt ts owed by those individuals who are obligated under the promissory note and mortgage ‘The debtor may dispute the valdity ofthis debt, or any portion thereof, within 30 days of receipt ofthis Notice Ifthe debtor fails to dispute the debt within 30 days, the debt will be assumed valid by the creditor Ifthe debtor notifies the creditor's law firm in wnting within 30 days from receipt of this notice thatthe debt, or any portion thereof, 1s disputed, the creditor's law firm will obtain verification of the debt, ora copy of a judgment and a copy of the verification will be mailed to the debtor by the creditor's law firm Coliection efforts, resulting n additional attorney fees and costs however, will continue during this 30 day period until this office receives the written request for ventfication If the creditor named herein 1s not the original creditor, and ifthe debtor makes a written request to the creditors law firm wathin 30 days of receipt of this Notice, the name and address of the 0949291,‘original creditor will be mailed to the debtor by the creditor's law firm Collection efforts, resulting additional attorney fees and costs however, will continue during this 30 day period until this office receives the written request for the name and address of the original creditor As of October 15, 2009, you owe a total amount of $193,005 15 mn certified funds Because of interest, late charges, and other charges that may vary from day to day, the amount due on the day you pay may be greater Hence, if you pay the amount shown above, an adjustment may be necessary after we receive your certified funds, in which event we will inform you before depositing the check for collection For further mformation, please call 1-800-441-2438 Written requests pursuant to this notice should be addressed to FAIR DEBT COLLECTION CLERK, Marshall © Watson, P A ‘This communication 1s for the purpose of collecting a debt, and any information obtained from the debtor will be used for that purpose The Law does not require me (the debt collector) to wait until the end of the thirty-day period before suing you (the consumer) to collect this debt Once a lawsuit s commenced, all judicial remedies will be zealously pursued and attorney fees and costs, which you may be responsible for, 1m whole or n part, will be incurred If, however, you request proof of the debt or the name and address of the onginal creditor within the thurty-day period which begins with your receipt of this letter, the law requires me to suspend my efforts (through litigation or otherwise) to collect the debt until I mail the requested information to you Once the requested information 1s maled to you Intigation efforts will resume Even though you are required to file a response to the lawsuit prior to the thirty (30) days, your validation rights, as set forth 1n this notice, shall not expire for thirty (30) days 09-49291MFC MORTGAGE INC OF FL 851 TRAFALGAR COURT SUITE 320 W (FN 2006164361 06-01 2006 17 39 am MAITLAND, FLORIDA 32751 PRBocwPage S652 / 8678 ‘Afr Reeording Return To Scott Eis MFC MORTGAGE INC OF FL tPp0 C* Courts evar coy 851 TRAFALGAR COURT SUITE 320 W Trst aso ‘Ram*s, 3, MAITLAND, FLORIDA 32751 ae” 28 04 900 ntTax 347 19 [pare Above Ths Lme For Recording Data] Loan Nunber MERS Number 100293200001164235 MORTGAGE DEFINITIONS. Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13 18 20 and 21 Certain rules regarding the usage of words used in this document are also provided in Section 16 (A) "Secunty Instrument” means this document, which is dated MAY 26, 2006, together wath all Riders to this document (B) "Borrower" is LISA MATOS, AN UNMARRIED WOMAN Borrower 1s the mortgagor under this Secunty Instrument (©) "MERS" 1s Mortgage Electronic Registration Systems Inc MERS 1s a separate corporation that 1s acting solely as a ‘nominee for Lender and Lender's successors and assigns MERS 1s the mortgagee under this Security Instrument MERS 1s organized and existing under the laws of Delaware and has an address and telephone mumber of P.O Box 2026, Flint MI 48501-2026, tel (888) 679-MERS (D) "Lender" 1s MFC MORTGAGE INC OF FL Lender is a CORPORATION organized and existing under the laws of FLORIDA Lender's address 1s 851 TRAFALGAR COURT SUITE 320 W, MAITLAND, FLORIDA 32751 (©) "Note" means the promssory note signed by Borrower and dated MAY 26, 2006 The Note states that Borrower owes Lender ONE HUNDRED SEVENTY-THREE THOUSAND FIVE HUNDRED NINETY-TWO AND 00/100ths Dollars (U S $173,592 00) plus interest Borrower has promused to pay this debt in regular Periodic Payments and to pay the debt in full not later than JUNE 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 under the Note, and all sums due under ths Secunty Instrument plus interest (ED "Riders means all Riders to this Security Instrument that are executed by Borrower The following Ruders are to be ‘executed by Borrower [check box as applicable] Wadyustable Rate Rider (CiCondomnum Rider second Home Rider Balloon Rider (CPlanned Unt Development Rider Dother (Specify) 11 4 Family Rider (CBiweekly Payment Rider serovar tats TV FLORIDA--Sungle Family Fanme Mue/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01 (age I of 1! pages) 15193© “Appheable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and dimunstrative rules and orders (that have the effet of law) as wells all applicable final, non-appealable yudcal opinions @ "Community Assocation Dues, Fees, and Assessments" means all dies, fees, assessments and other charges that are amposed on Borrower of the Property by a cndomnsum associahon, homeowners assoction o similar organization (K) "Blectrome Funds Transfer" means any transfer of funds, other than a transecton onguated by check, draft or simular paper instrument, which 1s mutated through an electron terminal, telephonic mstrument, computer or magnetic tape $0 a 10 forder, insuet, or authonze a financal msutution to debit or creit an account Such term includes, but snot lumted to, pomt-of-sale tansfes, automated teller machine transactions, transfers sitated by telephone, wire transfers, and automated cleannghouse transfers (L) "Escrow Items" means those stems that ate described in Section 3 (Mf) "Miscellaneous Proceeds" means any compensation, setlement, avard of damages, or proceeds pad by any thrd party (other than insurance proceeds paid under the coverages desenibed in Section 5) for (1) damage to or destruction of, the Property, (ui) condemnation oF other taking ofall or any part ofthe Property, (ut) conveyance in len of condemnation, oF (W) _msepresenttons of, or omissions ast, the value and/or condition ofthe Property (N) "Mortgage Insurance” means insurance protectng Lender sgausst the nonpayment of, or default on the Loan (0) "Penodie Payment" means the regularly scheduled amount due for (1) prinexpal and interest under the Note, plus (ui) any amounts under Secuon 3 of ths Secunty Instrument () “RESPA" means the Real Estate Setlement Procedures Act (12 U SC_§2601 et seq ) and us amplementing regulation, Regulation X (24 CF R Part 3500), as they might be amended from tune to ume, or any addinoal or successor legsslation or regulauon that govéms the same subject matter As used in ths Secunty Instrument, "RESPA" refers to all requirements and restrictions that are amposed xn regard to a “federally related mortgage loan" even ifthe Loan does not qualify a a “federally related morgage loan" under RESPA (Q "Successor in Interest of Borrower" means any party that has taken tle tothe Property, whether or not that party has assumed Borrowers obligations under the Note and/or ths Secunty Instrument ‘TRANSFER OF RIGHTS IN THE PROPERTY ‘Thus Secunty Instrument secures to Lender (1) the repayment ofthe Loan, and all renewals, extensions and modifications of the Note, and (1) the performance of Borrower's covenants and agreements under this Secunty Instrument and the Note For his purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nomunee for Lender and Lender's successors ‘and assigns) and to the successors and assigns of MERS, the following described property located mn the County of __BREVARD [Type of Recording Junsdichon] [Name of Recording Junsdichon) To? 16, BLOCK 868, PORT MALABAR, UNIT TWENTY-TWO, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 16, PAGES 9 THROUGH 18, INCLUSIVE, OF THE PUBLIC RECORDS OF BREVARD COUNTY, FLORIDA a hL which currently has the address of _1362 RABBIT STREET, § E. (Sie) er PALM BAY , Flonda 32009 ("Property Address") Tew (Zap Code ‘FLORIDA~Single Famly-Fannle Mae/Fredidve Mac UNIFORM INSTRUMENT Bonove lle r Form 3010 1/01 (page 2 of 11 pages)(cFN 2008164361 oRBookPace 5652 / 8680 TOGETHER WITH all the unprovements now or hereafter erected on the property and all easements, appurtenances, and fixtures now or hereafter apart of the property All replacements and additions shall also be covered by this Seeunty Instrument All of the foregoing 1s referred to inthis Securty Instrument as the "Property * Borrower understands and agrees that MERS holds only legal ule to the interests granted by Borrower in this Securty Instrument, but, sf necessary o comply wath law or custom MERS (as nominee for Lender and Lender's successors and assigns) has the right to exercise any oral of those interests, including, but not Inmited to, the nght to foreclose and sell the Property, and to take any action required of Lender sncluding, but not hited to, releasing and canceling tis Secunty Instrument BORROWER COVENANTS that Borrower s lawfully seised ofthe estate hereby conveyed and has the nght to mortgage grant and convey the Property and thatthe Property 1s unencumbered, except for encumbrances of record. Borrower warrants and wil defend generally the ttle to the Property against all clams and demands, subject to any encumbrances of record ‘THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unsform covenants wit Inuted variations by junséicton to constitute @ uniform securty instrument covering real property UNIFORM COVENANTS Borrower and Lender covenant and agree a follows 1 Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower shall pay when due the principal of, and interest on the debt evidenced by the Note and any prepayment charges and late charges due under the ‘Note Borrower shall also pay funds for Escrow Items pursuant to Section 3 Payments due under the Note and this Security Instrument shall be made m US currency However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument 1s returned to Lender unpand, Lender may require that any or all subsequent payments due under the Note and thas Security Instrument be made mn one or more ofthe following forms, as selected by Lender (a) cash (b) money order, (c) certified check bank check, treasurer's check or easher's check. provided any such check 1s dravm upon an institution ‘whose deposits are mnsured by a federal agency, instrumentality, or enuty, or (4) Electrome Funds Transfer Payments are deemed received by Lender when received atthe location designated in the Note or at such other location as ray be designated by Lender m accordance wih the nonce provisions in Section 15 Lender may return any payment or partial payment 1f the payment or partial payments are insufficient to bring the Loan current Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or preyudice to ts mghts to refuse such payment or partial payments m the future but Lender isnot obligated to apply such payments atthe time such payments are ‘accepted If each Periodic Payment 1s applied as of 1s scheduled due date, then Lender need not pay interest on unapplied funds Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not 40 so within a reasonable period of time Lender shall ether apply such funds or return them to Borrower If not apphed earlier such funds wall be applied to the outstanding principal balance under the Note ummediately pnor to foreclosure No offset or claim which Borrower might have now or m the frure against Lender shall relieve Borrower from making payments due under the Note and this Secunty Instrument or performing the covenants and agreements secured by this Secunty Instrument 2 Application of Payments or Proceeds Except as otherwise described am this Section 2, all payments accepted and applied by Lender shall be applied n the follownng order of prionty (a) interest due under the Note, (b) principal due under the Note, (€) amounts due under Section 3 Such payments shall be applied to each Periodic Payment inthe order in which 1 ‘became due Any remamning amounts shall be applied first to late charges, second to any other amounts due under ths Security Instrument and then to reduce the principal balance ofthe Note If Lender receives a payment from Borrower for a delinquent Penodic Payment which mnciudes a sufficient amount to pay any late charge due, the payment may be applied to the delmquent payment and the late charge If more than one Periodic Payment 1 outstanding, Lender may apply any payment recerved from Borrower to the repayment ofthe Periodic Payments if, and to the extent that each payment can be paid m full To the extent chat any excess exists after the payment 1s applied to the full payment of one or more Penodic Payments, such excess may be applied to any Iate charges due Voluntary prepayments shall be applied first to any prepayment charges and then as deseribed inthe Note Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not ‘extend oF postpone the due date, of change the amount, ofthe Penodie Payments 3 Funds for Escrow Items Borrower shall pay to Lender on the day Periodic Payments are due under the Note, unl the [Note 1s paid in full a sum (the "Funds") to provide for payment of amounts due for (a) taxes and assessments and other tems ‘which can attan priority over this Secunty Instrument as a lien or encumbrance on the Property, (b) leasehold payments or ground rents on the Property if any, (¢) premiums for any and all insurance requred by Lender under Section 5, and (2) Mongage Insurance prem, f any, or any sums payable by Borrower to Lender ne of he payment of Morgage Insurance Make Seow ns FLORIDA.-Single Family~Fanme Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 TAL" foage 3 of 11 pages).oF1 2006164381 OR BookrPage 5652 / 8681 premiums in accordance with the provisions of Section 10 These tems are called “Escrow Items * At ongmation or at any ‘ume during the term of the Loan, Lender may require that Commumty Association Dues, Fees and Assessments any, be ‘escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item Borrower shall promply furnish 10 Lender all notices of amounts to be pad under ths Section Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Tems Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow lems at any time Any such waiver may only be m wnting_ In the event of such wawer, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall fursh to Lender receipts evidencing such payment within such fume period as Lender may requre Borrower's obligation to make such payments and to provide roerts shall for all purposes be deemed to bea covenant and agreement contaned in this Secunty Instrument, as the phrase “covenant and agreement” 1s used 1m Section 9 If Borrower 1s obligated to pay Escrow lems directly, pursuant 10 a waiver, and Borrower fails o pay the amount due for an Esccow Item, Lender may exercise sts nghts under Secuon 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount Lender may revoke the waver as any or all Ecrow Items at any time by a notice given in accordance wath Section 15 and upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then requted under this Secon 3 Lender may at any time, collect and hold Funds mn an amount (2) sufficient to penmt Lender to apply the Funds atthe me specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA Lender shall estate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law ‘The Funds shall be held in an msutution whose deposits are insured by a federal agency snstrumentaly, or entity (including Lender, af Lender ss an msuation whose deposts are so insured) or m any Federal Home Loan Bank Lender shall apply the Funds to pay the Escrow Items no later than the tume specified under RESPA Lender shall not charge Borrower for holding and applying the Funds annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permts Lender to make such a charge Unless an agreement 1s made ‘wnting or Applicable Law requires interest tobe paid onthe Funds, Lender shall not be required to pay Borrower any terest for earnings on the Funds Borrower and Lender can agree in wating, however, that intrest shall be paid on the Funds Lender shall give to Borrower without charge, an annual accountng of the Funds as required by RESPA If there 1s a suplus of Funds held m escrow, as defined under RESPA, Lender shall account to Borrower forthe excess funds im accordance with RESPA If there 1s a shortage of Funds held m escrow, as defined under RESPA, Lender shall noufy Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage m accordance wih RESPA, but m no more than 12 monthly payments If there 1s a deficiency of Funds held in escrow, as defined under RESPA Lender shall notfy Borrower as requred by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency i accordance with RESPA, but in n0 more than 12 monthly payments ‘Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender 4 Charges, Liens Borrower shall pay al taxes, assessments, charges, fines, and impositions atbutable to the Property ‘which can attan pnonty over ths Secunty Instrument leasehold payments of ground rents on the Property, if any, and ‘Community Association Dues, Fees, and Assessments, if any To the extent that these tems are Escrow Items, Borrower shall ‘ay them m the manner provided in Section 3 Borrower shall promptly discharge any len which has pnonty over this Secunty Instrument unless Borrower (a) agrees nung 10 the payment of the obligation secured by the hen mn ¢ manner aceptabe to Lender, but only so long as Borrower performing such agreement (b) contests the lien i good faith by, or defends agast enforcement of the len 1n, legal proceedings which 1n Lender's opmon operate to prevent the enforcement of tbe lien whe those proceedings are pending, but only until such proceedings are concluded, or (6) secures from the holder of the len an agreement sansfactory to Lender subordinaing the lien to ths Secunty Instrument If Lender determunes that any part of the Property 1s subject to a hen which can atta prmty over tas Secunty Instrument, Lender may give Borrower a nouce Wdentfying the hen Withn 10 days of the date on which that notice 1s gwen, Borrower shall sausfy the lien or take one or more of te actions set forth above inthis Seetion ¢ Lender may require Borrower to pay a one time charge fr areal esate tax verification and/or reporting service use by Lender m connection with this Loan sie, FLORIDA--Single Famly-Fanmve Mae/Freddve Mac UNIFORM INSTRUMENT Form 3010 1/01 (page 4 of 11 pages) TLCFR 2006164361 ORBeckPae 5652 / 8682 ‘5 Property Insurance Borrower shall keep the improvements now existing or hereafter erected on the Property insured agaunst loss by fire, hazards included within the term “extended coverage "and any other hazards mncuding, but not limited to earthquakes and floods, for which Lender requires insurance This msurance shall be maintaned inte amounts (including deducuble levels) and for the penods that Lender reques What Lender requires pursuant othe preceding sentences can change dunng the tem of the Loan The snsurance carer providing the surance shall be chosen by Borrower subject 10 Lender's right to disapprove Borrower s choice, which nght shall not be exercised unreasonably Lender may require Borrower to pay, m connection with this Loan, ether (@) a one-tme charge for flood zone determination, cerufication and tracking services, oF (b) a one-tne charge for flood zone determination and ceruficaton services and subsequent charge each time remappings or simular changes occur which reasonably might affect such determination or certification Borrower shal also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review ‘of any flood zone determination resulting from an objection by Borrower If Borrower fails to manta any of the coverages described above, Lender may obtain nsurance coverage, at Lender's ‘option and Borrower's expense Lender 1s under no obligation to purchase any particular type or amount of coverage ‘Therefore, such coverage shall cover Lender ut might or might not protect Borrower Borrower's equity inthe Property or the ‘contents of the Property, agaunst any nsk, hazard or hablty and mght provide greater or lesser coverage than was previously mn effect Borrower acknowledges that the cost of the msurance coverage so obtained mught signticantly exceed the eos of insurance that Borrower could have obtained Any amounts disbursed by Lender under ths Secuon 5 shall become additonal debt of Borrower secured by this Secunty Instrument These amounts shall bear interest atthe Note rate from the date of disbursement and shall be payable, wth such interest upon notice from Lender to Borrower requesting payment ‘All insurance policies required by Lender and renewals of such policies shall be subyect to Lender's right to disapprove such poheres, shall mclude a standard morgage clause and shall name Lender as mortgagee and/or as an additional loss payee Lender shall have the right to hold the polices and renewal ceruficates If Lender requires, Borrower shall promptly give to Lender all receipts of paid premmums and renewal notices If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall mclude a standard mortgage clause and shall name Lender as mortgagee and/or as an adéitonal loss payee In the event of loss, Borrower shall give prompt nonce to the insurance carrier and Lender Lender may ake proof of loss sf not made promptly by Borrower Unless Lender and Borrower otherwise agree in writing, any surance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repar of the Property af the restoration or repair 1s economically feasible and Lender s secunty 1s not lessened During such repair and restoration penod, Lender shall have the nght to hold such msurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed ‘to Lender's satisfaction, provided that such mspection shall be undertaken promptly Lender may disburse proceeds for te repairs and restoration ina single payment or in a sees of progress payments asthe work 1s completed Unless 2m agreement 1s made m wnting or Applicable Law requires interest tobe pad on such surance proceeds, Lender shall not be required to pay Borrower any interest or earings on such proceeds Fees for public adyusters, or other third parses retained by Borrower stall not be paid out of the insurance proceeds and shall be te sole obligaton of Borrower If the restoration or repair 1s not economically feasible or Lender's secunty would be lessened the nsurane proceeds shall be applied tothe sums secured by this Secunty Instrument, whether or not then due, wath the excess, sf any, paid to Borrower Such insurance proceeds shall be applied inthe order provided for in Section 2 If Borrower abandons the Property, Lender may file, negonate and settle any avaiable nsurance claum and related matters If Borrower doesnot respond within 30 days to @ notice fom Lender that the insurance carr has offered to settle clam, then Lender may negotiate and settle the claim The 30-day period wil begin when the notce 1s given Tn exter event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any msurance proceeds in an amount not to exceed the amounts unpaid under the Note or ths Secunty Instrument. and (b) any other of Borrower's nghts (other than the right to any refund of unearned premsums pad by Borrower) under all msurance policies covering the Property, insofar as such rights are applicable to the coverage ofthe Property Lender may use the msurance proceeds exther 1 repair or restore the Property orto pay amounts unpaid under the Note or this Secunty Instrument, whether or not then due 6 Occupancy Borrower shall occupy establish, and use the Property as Borrowers principal residence within 60 days after the execution ofthis Secunty Instrument and shall connie to occupy the Property as Borrower's principal residence for at least one year afier the date of occupancy, unless Lender otherwase agrees in wring, wich consent shall not be unreasonably ‘wthheld, or unles extenuanng circumstances exist which are beyond Borrower's contol AEA Ae i Form 3010 1/01 page 5 of11 pages) Borer(cFN 2008184361 or BoouPage 5652 / 8683 7. Preservation, Maintenance and Protection of the Property, Inspections Borrower shall not destroy, damage ot impair the Property, allow the Property to detenorate or commat waste on the Property Whether or not Borrower 1s residing in the Property, Borrower shall maintain the Property inorder to prevent the Property from deteriorating or decreasing in value due to its condition Unless xt 1s determined pursuant to Section $ that repair oF restoration 1s not economically feasible Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage If insurance or condemnation proceeds fare paid m connection with damage to or the taking of the Property Borrower shall be responsible for repairing or restoring the Property only if {ender has released proceeds for such purposes Lender may disburse proceeds for the repatrs and restoration in a single payment or m a series of progress payments as the work is completed If the msurance or condemnation proceeds are not sufficient to reparr or restore the Property, Borrower 1s not relieved of Borrower's obligation forthe completion of such repatr or restoration Lender or its agent may make reasonable entries upon and inspections of the Property If thas reasonable cause, Lender ‘ay inspect the intenor of the amprovements on the Property Lender shall give Borrower notice at the time of or prot to such an interior inspection specifying such reasonable cause 8 Borrower’s Loan Application Borrower shall bein default f, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave matenally false Iisleading, or maccurate information or statements 10 Lender (or failed to provide Lender with matenal information) 10 connection’ with the Loan Material representations include, but are not limuted to representations concerning Borrower's occupancy ofthe Property as Borrower's principal residence 9 Protection of Lender's Interest inthe Property and Rights Under this Security Instrument f(a) Borrower falls to perform the covenants and agreements contained mn this Secunty Instrument, (b) there 18 a legal proceeding that might Significantly affect Lender’s interest mn the Property and/or nghts under this Secunty Instrument (such as a proceeding im bankruptey, probate, for condemnation or forfeiture, for enforcement of a lien which may attain pronty over this Security Instrument ‘or to enforce laws or regulations), or (¢) Borrower hes abandoned the Property, then Lender may do and pay for ‘whatever 18 reasonable or appropriate to. protect Lender's interest an the Property and rights under ths Secunty Instrument including protecting and/or assessing the value of the Property, and securing and/or repasning the Property Lender's actions can inciude but are not limited to (a) paying. any sums secured by a lien which has priority over this Security Instrument, (0) ‘appearing in cour, and (c) paying reasonable sttomeys’ fees to protect sts interest m the Property and/or nights under this. Securty Instrument, including 1s secured postion mn a bankruptcy proceedmg Secunng the Property includes, but 1s not Iimuted to, entenng the Property to make repairs, change lock, replace or board up doors and windows drain water from pipes, eliminate building or othet code violations or dangerous conditions, and have unites turned on or off Although Lender may take action under this Section 9, Lender does not have to do so and snot under any duty or obligation to do so. Its agreed that Lender incurs no liability for not taking any o all acions authored under this Section 9 ‘Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Secunty Instrument These amounts shall bear unterest at the Note rate from the date of disbursement and shall be payable, with such Interest upon notice from Lender to Borrower requesting payment If this Secunty Instrument 1s on a leaschold Borrower shall comply with all the provisions ofthe lease If Borrower acquires fe ile to the Property, the leaschold and the fee tle shall not merge unless Lender agrees tothe merger in writing 10 Mortgage Insurance If Lender required Mortgage Insurance as @ condition of making the Loan, Borrower shall pay the premuums required to maintain the Mortgage Insurance m effect If, for any reason the Mortgage Insurance coverage required by Lender ceases to be avaiable from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premsums for Mortgage Insurance, Borrower shall pay the Premiums required to obtain coverage substanually equivalent to the Mortgage Insurance previously m effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously m effect, from an alternate mortgage imsurer selected by Lender If substantially equivalent Mortgage Insurance coverage isnot available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the msurance coverage ceased to be 18 ‘effect Lender wall accept, use and retain these payments a a non refundable loss reserve n ew of Mortgage Insurance Such loss reserve shall be non-refundable, notwithstanding the fat thatthe Loan 1s ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earmungs on such loss reserve Lender can no longer require loss reserve payments if Mortgage Insurance coverage (inthe amount and for the period that Lender requires) provided by an snsuer selected by Lender again becomes available, 1 obtained, and Lender requires separately designated payments toward the premums for Mortgage Insurance If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make Separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the preruums required to maintain Mortgage Insurance 1n effect, or 10 provide a non refundable loss reserve, until Lender s requirement for Mortgage Insurance ends-1n accordance with any wntten agreement between Borrower and Lender providing for such termunation or unt termination 1s required by Appheable Law Nothing mths Secon 10 affects Borowe's obligation o pay interes atthe rte provided m the Note ie ero at = FLORIDA-Singe Famly-Fanmie Mae/Predde Mac UNIFORM INSTRUMENT Form 010 TAL page 6 of 1! pages)(CN 2006164361 ORBookPege 5652 / 8684 Mortgage Insurance resmurses Lender (or any entity that purchases the Note) for ert losses it may incur if Borrower doesnot repay the Loan a agreed. Borrower is nota party to the Mortgage Insurance Mortgage insurers evaluate thetr total nskon al sch insurance in fore from time otume and may enter ito agreements wth other parnes that share or modify thir msk, or reduce losses These agreements ae on terms and condmions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements These agreements may require the mortgage insurer to make payments using ay source of funds that the mortgage insurer may have available (which may mnelude funds obtained from Morigage Insurance premiums) 'AS a result of these agreements Lender any purchaser ofthe Note, another insure, any emsure, any other entity, or any affinate of any of the foregoing, may receive (iectly or indirectly) amounts tat denve from (or might be characterzed #8) a poruon of Borrower's payments for Morag Insurance, in exchange for sharing or modifying the morgage msurers sk, ot Teducing losses If such agreement provides that an afte of Lender takes a share of the msurers risk in exchange fora share ofthe premuums paid tothe insurer, the arrangement is often termed “capuve risurance Further (@) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they wall not entitle Borrower to any refund (0) Any such agreements will not affect the rights Borrower has -f any - with respect tothe Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law ‘These rights may include the might to receive certam disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to recerve a refund of any Mortgage Insurance premiums that were unearned at the time of such ‘cancellation or termination 11. Assignment of Miscllancous Proceeds, Forfeture Ali Miscellaneous Proceeds ae hereby assigned to and shal be paid to Lender Tf the Propery 1s damaged, sich Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, the restoration or repar 18 economucally feasible and Lender's secumty 1 ot lessened. Dunng such repair and restoration period, Lender shall have te nght to hold sich Miscellaneous Proceeds unl Lender has had an opportunty to mspect such Property 10 ensure the work has been completed to Lender's satisfaction, provided that such inspection sallbe undertaken promplly Lender may pay for the repars and restoration im a single disbursement or m a senes of progres paymens asthe work s completed Unless an agreement 1s made an writing or Applicable Law requires interest to be paid on such Miscellaneous Procoods, Lender shall not be requred to pay Borrower any interest or earings on such Miscellaneous Proceeds If the restoration of repair 1s not economically feasible or Lender's secnty would be lestened, the Misceaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower Such Miscellaneous Proceds shal be applied in the order provided for in Section 2 the event of a total talang, destruction, or los im vale of the Property, the Miscellaneous Proceeds shal be applied to the sums secured by this Secunty Insirument whether or not then due, wath te excess if any, paid to Borrower In the event of a paral taking, destrction, o loss in value ofthe Property in which te fair market value ofthe Property immediately before the partial taking, destruction or loss m value 1s equal to or greater than the amount of the sums secured by this Secunty Instrument immediately before the paral taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in wniting, the sums secured by ths Security Instrument shal be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction (a) the total amount of the sums secured immediately before the partial taking, destmcton, of loss m value divided by (b) the fur market valve of the Propeny immediately before the partal tkan, destruction, of loss m value Any balance shall be paid to Borrower nthe event of «paral taking, destruction, or loss n value ofthe Property in wiuch the far market value ofthe Property smmediately before the partal tlong, destruction, of lois value ws less tan the amount of he sums secured immediately before the partial tang, destruction, or los m vale, unless Borrower and Lender otheronse agree mn wn. the Miscellaneous Proooeds shall be applied tothe sums secured by this Secunty Instrument whether or not the sums are then due If the Property 18 sbandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Paty (s defined in the next sentence) offers to make an award fo sete a clam for damages, Borrower fal to respond to Lender withun 30 days alter the date the notice 1s given Lenders authored to collect and apply the Miscellaneous Proceeds ether to restoration ot repair of the Property or to the sums secured by this Security Instrument, whether or not then due Opposing Party" means the ‘turd party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a nght of acon in regard to ‘Miscellaneous Proceeds BAs. 3 ‘oro ia FLORIDA--Single Femily~Fanne Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01 (page 7 of 11 pages)‘a cen 2006 164361 ORBookPage 5652 / 8685 Borrower shall be in default f any action or proceeding, whether calor crumunal 1s begun that, in Lenders judgment, could result in forfeiture of the Property or oer material mmpaurment of Lender interest inthe Property or nghts under this Secunty Instrument Borrower can cure such a default and, if acceleration has occurred, reustate as provided in Secuon 19, by causing the ection or proceeding to be dismssed with a ruling that in Lenders judgment, precludes forfeture ofthe Propety or other matenal impairment of Lender's interest in the Property or rights under ths Secunty Instrument The proceeds of any award or claim for damages that are atinbutable othe impairment of Lender's interest inthe Property are hereby assigned and shall be paid to Lender ‘All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied inthe order provided for m Section 2 12 Borrower Not Released, Forbearance By Lender Not a Waiver Extension ofthe ume for payment or moshfication of amomuzation of the sums secured by this Secunty Instrument granted by Lender to Borrower or any Successor un Interest of Borrower shall not operate to release the lability of Borrower or any Suocessors n Interest of Borrower Lender shall not be required to commence procesiings against any Successor mn Interest of Borrower orto refuse o extend time for payment or otherwise modify amortization of the sums secured by ts Secunty Instrument by reason of any demand made by the onginal Borrower or any Successors in Interest of Borrower Any forbearance by Lender in exercising any nght or remedy including, without limtation, Lender's acceptance of payments from thurd persons, enties oF Successors in Interest of Borrower or in amounts less than the amount then due, shall not be @ waver of or preclude the exercise of any night or remedy 13 Jount and Several Liability, Co-sgners, Successors and Assigns Bound Borrower covenants and agrees that Borrower's obligations and lability shall be out and several However any Borrower who eo-signs this Secunty Instrument but does not execute the Note (a 'co-signer”) (a) co-signing this Secunty Instrument only to mortgage, grant and convey the co-signer § mnterest mn the Property under th terms of this Secunty Instrument (b) i not personally obligated to pay the sums secured by this Secunty Instrument, and (6) agrees that Lender and anyother Borrower can agree to extend, modify, forbear or ‘make any accommodations with regard to the terms of this Secunty Instrument oF the Note without the co-signer's consent Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrowers obligations under thus Secunty Instrument im writing and 1s approved by Lender, shall obtan al of Borrower s rights and benefits under ths Securty Instrument Borrower shall not be released from Borrower s obligations and lability under ths Secunty Instrument unless Lender agrees to such release n wntung, The covenants and agreements of this Secunty Tastrument shall bind (xcept as provided in Section 20) and benefit the successors and assigns of Lender 14 Loan Charges. Lender may charge Borrower fes for service performed in connection with Borrower's default, for the purpose of protecting Lender s interest the Property and rights under ds Security Instrument, xaluding, bu nt muted to, attorneys. fees, property mspection and valuanon fees In regard 10 any other fes, the absence of expres authorty inthis Securty Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee Lender may not charge fees that are expressly prohibited by this Secunty Instrument or by Applicable Law If the Loan 1s subject toa law which sets maxamum loan charges, and that lw is finally anterpreted so thatthe unteest or other Ioan charges collected or to be collected in connection with the Loan exceed the permitted mus, then (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permuted mst, and (b) any sums already collected from Borrower which exceeded pemtted Inmuts will be refunded to Borrower Lender may choose to make ts refund by reducing the pnncipal owed under the Note or by making a direct payment to Borrower If refund reduces pnncipal, the reduction all be teated as a partial prepayment wnhout any prepayment charge (whether or not a prepayment charge provided for under the Note) Borrower's acceptance of any such refund made by direct payment to Borrower will consurute a waver of any night of action Borrower might have ansing out of such overcharge 15. Notices All nouces given by Borrower or Lender in connection with tis Secunty Instrument must be in writing, Any notice to Borrower in connection with this Secunty Instrument shall be deemed 10 have been given to Borrower when mailed by first class mal or when actully delivered to Borrower's notice address if sent by other means "Notice o any one Borrower shal constitute nouce to all Borrowers unless Applicable Law expressly requires otherwise The noice adress shall be the Property ‘Address unless Borrower ha designated a substitute noice address by nouce to Lender Borrower shall promptly noufy Lender ‘of Borrower's change of address If Lender specifies a procedure for reporting Borrower s change of address then Borrower Shall only report a change of address through that specified procedure There may be only one designated notice address under this. Securty Instrument at any one tame Any none to Lender shal be given by delivering itor by mailing it by frst class mai to Lender's address sated herein unless Lender has designated another address by notice to Borrower Any notice n connection ‘wth this Secanty Instrument shall not be deemed to have been given to Lender unt actually received by Lender If any nowce required by ths Secunty Instrument 1s also required under Applicable Law, the Applicable Law requirement will sansty the corresponding requrement under this Sccuny Instrument the FLORIDA -Single Famuly-Fanme Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01 (page 8 of 1 pages)(oF 2006164361 . OR BeowPage 5652 / 8686 16 Governing Law, Severability, Rules of Construction This Secunty Instrument shall be governed by federal law and the law of the junsdieton in which the Property s located All rights and obligations contained inthis Secunty Instrument are subject to any requirements and Inmstations of Apphcable Law Applicable Law mught exphetly or mph allow the parties to agree by contractor t mught be silent but such silence shall not be construed as a prohibition agamst agreement by contract Jn the event that any provision or clause of this Secunty Instrument or the Note conflicts with Applicable Law, such confit shall not affect other provisions of this Secunty Instrument or the Note which can be given effect without the conflicung provision ‘As used in this Secunty Instrument (a) words of the masculine gender shall mean and include corresponding neuter words for words of the feminine gender, (b) words mn the singular shall mean and anclude the plural and vice versa, and (c) the word “ may" gives sole discretion without any obligation to take any action 17 Borrower's Copy Borrower shall be given one copy of the Note and ofthis Secunty Instrument 18 Transfer of the Property or a Beneficial Interest m Borrower As used in this Section 18, “Interest inthe Property” means any legal or beneficial interest im the Property including, but not Inmted to, those beneficial mtrests transferred in a ‘bond for deed contract for deed installment sales contract or escrow agreement the intent of which 1 the transfer of ttle by Borrower ata future date to a purchaser If all or any part ofthe Property or any Interest mn the Property 1s sold or transferred (or sf Borrower 1s not natural person and a beneficial interest in Borrower 1s sold or transferred) without Lender $ prior wntten consent, Lender may require ‘immediate payment in full of all sums secured by this Securty Instrument However, tis option shall not be exercised by Lender if such exercise 1s prohibited by Applicable Law If Lender exercises this option, Lender shall give Borrower notice of acceleration The notice shall provide a period of not less than 30 days from the date the notice 1s given in accordance wit Section 15 within which Borrower must pay all sums secured by this Secunty Instrument If Borrower fals to pay these sums prio fo the expiration ofthis penod, Lender may ‘nvoke any remedies permuted by this Secunty Instrument without further notice or demand on Borrower 19 Borrower's Right to Remstate After Acceleration If Borrower meets certain conditions, Borrower shall have the night to have enforcement of this Secunty Insrument discontinued at anytime prot t0 the earliest of (a) five days before sale of, the Property pursuant to any power of sale contaned in this Secunty Insrument, (b) such other period as Applicable Law might specify for the termination of Borrower's nght to reinstate, or () entry ofa judgment enforemg this Secunty Instrument “Those ‘conditions are that Borrower (a) pays Lender all sums which then would be due under this Secunty Instrument and the Note as if no acceleration had occurred, (b) cures any default of any other covenants or agreements (c) pays all expenses incurred in enforcing ths Secunty Instrument, including, but not insted 10, reasonable attorneys’ fees, property inspection and valuation fees and other fees incurred for the purpose of protecting Lender s snterest in the Property and rights under ths Securtty Tstrument, and (8) takes such action as Lender may reasonably require to assure that Lender's interest inthe Property and rights under this Securty Instrument, and Borrower's obligation to pay the sums secured by this Securty Instrument, shall continue ‘unchanged Lender may require that Borrower pay such reinstatement sums and expenses m one or more of the following forms, as selected by Lender (a) cash, (b) money order, (c) cernfied check, bank check, treasurers check or cashier's check, provided any such check 1s drawn upon an institution whose deposits are insured by a federal agency, instrumentality or enity, or (2) Electronic Funds Transfer Upon reinstatement by Borrower this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred However, this nght to remstate shall not apply an the case of acceleration under Section 18 20. Sale of Note, Change of Loan Servicer, Notice of Grievance ‘The Note or a parnal terest in the Note (together wath this Secunty Instrument) can be sold one or more times without prior notice to Borrower A sale might result m a change mn the entry (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Secunty Instrument and performs other mortgage loan servicing obligations under the Note, this Secunty Instrument, and Applicable Law ‘There also ‘might be one or more changes of the Loan Servicer unrelated to a sale of the Nore. If there s a change ofthe Loan Servicer, Borrower will be given wntten notice ofthe change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicmg_ If the Note 1s sold and thereafter the Loan 1s serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remam with the Loan Servicer or be transfered toa successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser FLORIDA. Single Famiy~Fanmie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01 (page 9 of 11 pages)1 é ‘Gr scouPage 5652 / 8687 Nether Borrower nor Lender may commence, oun, or be joined fo any judicial action (as erther an individual Imigant or the member of a class) that arises from the other party's actions pursuant to this Securty Instrument or that alleges thatthe other party has breached any provision of, or any duty owed by reason of, this Secunty Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance withthe requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable pend afte the givin of such notce to take corrective action If Applicable Law provides a nie period which must elapse before certan action can be taken that time period will be deemed to be reasonable for purposes of this paragraph The nouce of acceleration and opportunity to cue given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisty the notice and opportrsty to take corrective action provisions of this Section 20 21 Hazardous Substances As used inthis Section 21. (a) "Hazardous Substances” are those substances defined as toxic ‘or hazardous substances, pollutants, or wastes by Environmental Law and te following substances gasoline, kerosene, other flammable or toxic petroleum products toxic pesticides and herbicides, volatile solvent, matenals containing asbestos or formaldehyde and radioacuve matenals, (b) “Environmental Law" means federal laws and laws of the unsdiction where the Property 15 located that relate to health safety or environmental protection, () Envwronmental Cleanup” includes any response action, remedial action, of removal acuon a8 defined in Environmental Law and (@) an “Environmental Condition means @ condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup Borrower shall not cause or permt the presence, use, disposal storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property Borrower shall nt do, nor allow anyone els to do, anything affecung the Property (a) that 1s n violation of any Environmental Law, (0) which creates an Environmental Condition, of (©) watch, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the valve of the Property The preceding two sentences shall not apply tothe presence use or storage on the Property of small quanties of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not Inmited to hazardous substances in consumer products) Borrower shall promptly give Lender wntten notice of (a) any investigation, claim demand, lawsuit or other action by any ovemmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law Of which Borrower has actual knowiedge, (b) any Environmental Condition, including but not nmted to, any spilling, leakang, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property If Borrower leas, of 1s notified by any governmental or regulatory authonty or any private panty, that any removal or other remediation of any Hazardous Substance affecing the Property 1s necessary, Borrower shall promptly take all necessary remedial actions 1n accordance with Environmental Law Nothing herem shall create any obligation on Lender for an Environmental Cleanup NON UNIFORM COVENANTS Borrower and Lender furher covenant and agree as follows 22 Acceleration, Remedies Lender shall give notice to Borrower por to acceleration following Borrower's breach of any covenant or agreement inthis Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise) The notice shall specify (a) the default, (b) the action required to cure the default, (e) a date, not less than 30 days from the date the notice 1s given to Borrower, by which the default must be cured, and () that failure to cure the defauit on or before the date specified inthe notice may result in acceleration of the sums secured by ‘this Security Instrument, foreclosure by judicial proceeding and sale of the Property The notice shall forther inform Borrower of the right to remstate after acceleration and the right to assert 1n the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure Ifthe default isnot eured on or before the date specified 1m the notice, Lender at its option may require immediate payment m full ofall sums secured by this Security Instrument without further demand and may foreclose ths Security Instrument by judicial proceeding Lender shall be entitled to collect all expenses incurred 1n pursuing the remedies provided in ths Section 22, mluding, but not Inmited to, reasonable attorneys fees and costs of title evidence 23 Release Upon payment ofall sums secured by this Secunty Instrument, Lender shall release this Securty Instrument Borrower shall pay any recordation costs Lender may charge Borrower a fee for releasing this Secunty Instrument but only if the fee 1s pad toa third party for services rendered and the charging of the fe s permitted under Applicable Law 24 Attorneys’ Fees. As used this Secunty Instrument and the Note, atiomeys. fees shall include those awarded by an appellate court and any attorneys’ fees incurred mn a bankruptcy proceeding 25. Jury Tnal Waiver The Borrower hereby waives any night to a tnal by jury in any action, proceeding, claim, ot counterclaim, whether in contractor tort at aw or m equity arising out of orm any way related to ths Secunty Instrument or the Note MEA, FLORIDA Single Family Fanme Mae/Freddse Mac UNIFORM INSTRUMENT Form 3010 1/01 (poge 10 of 11 pages)"CEN 2006164361 ORBoowPage 5652 / 8688 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained sn this Secunty Instrument and many Rider executed by Borrower and recorded wath it Signed, see ed hive nthe presence of dh. all bo MAY 2.6 2006 (Se) LISA MATOS Please Print Nan CARLES HOUSE Forrover Please print your post office address (Seal) Please Print Name KRYSTAL MCCOMBS mere 7 Please print your post office address — ‘THE STATE OF FLORIDA ) COUNTY OF BREVARD ) The foregoing instrument was acknowledged before me this — MAY 26, 2006 by LISA MATOS, AN UNMARRIED WOMAN, who 1s personally ‘or who as produced yar PHOTO TD CARDS ss idenufication (Seal) Rai py ten FLORIDA--Single Family—Fanme Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01 (page 11 of 11 pages)(FN 2008164361 ORBookiPage 5652 / 8689 SECOND HOME RIDER ee ‘THIS SECOND HOME RIDER 1s made this 26TH day of MAY 2006, and 1s ucorporated into and shall be deemed 10 amend and supplement the Mortgage, Deed of Trust, or Secunty Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower * whether there are one or more persons undersigned) t0 secure Borrower's Note to MFC MORTGAGE INC OF FL (the "Lender") ofthe same date and covering the Property described inthe Security Instrument (the "Propecty"), which 1s located at 1362 RABBIT STREET, $ E , PALM BAY, FLORIDA 32909 [Property Address] Tn addinon to the covenants and agreements made mn the Secunty Instrument Borrower and Lender furher covenant and agree that Sections 6 and 8 of the Securty Instrument are deleted and are replaced by the following 6 Occupancy Borrower shall occupy, and shall only use the Property as Borrower's second home Borrower sall keep the Property avaiable for Borrowers exclusive use and enjoyment ata times, and shall not subyect the Property to any tumesharing or other shared ownership arrangement orto any rental pool or agreement that requires Borrower either torent the Property or give a management firm or any other person any contol over the occupancy or use of the Property 8 Borrower's Loan Application Borrower shall be in default af, dung the Loan application process, Borrower or any persons or entities acing atthe direction of Borrower or with Borrower's oowledge or consent gave matenally false, misleading or accurate information or statements 19 Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but ae not limited to, representations conceming Borrower's occupancy ofthe Property as Borrower's second home BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained 1n this Second Home Rider MAY 2.6 2006 TiSA MATOS Borrower (Seal) Borrower (Seal) Borrower MULTISTATE SECOND HOME RIDER-Sugl Fumly—Fanmve Mae/Freddie Mac UNIFORM INSTRUMENT Form 3890 1/01 (age 1 of I page)corn'2006164961 OR BoowPage 5652 / 8690 Assessor's Parcel Number ‘After Recording Retura To ‘MFC MORTGAGE INC OF FL 881 TRAFALGAR COURT SUITE 320 W (MAITLAND, FLORIDA 32751 Prepared By MFC MORTGAGE INC OF FL 851 TRAFALGAR COURT SUITE 320 W MAITLAND, FLORIDA 32751 [Space Above This Line For Recording Data] FIXED/ADJUSTABLE RATE RIDER (LIBOR One Year Index (As Published In The Wall Street Journal) Rate Caps) DOC 1D # 0000116823 ‘THIS FIXED/ADJUSTABLE RATE RIDER s made ths 26TH day of MAY, 2006 and 18 meorpoated ino and shall be deemed (o amend and supplement the Morigege Deed of Trust or Secunty Deed (the "Secunty Instrument) af the same date given by the undersigned ( Borrower’) o secure Borrower sFixed/ Adjustable Ral Note (he “Note ) (0 "MFC MORTGAGE INC OF FL. (Lender) ofthe same date and covering the property desenbed inthe Security Instrument and located at 1362 RABBIT STREET, SE , PALM BAY, FLORIDA 32009 Property Address] ‘THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE THE NOTE LIMITS THE AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY Conv © MULTISTATE FIXED/ADJUSTABLE RATE RIDER WSJ One Year LIBOR Single Farnly INTEREST ONLY j ff FE 4266 (0603) Page 1 of 4 Inwwalsfn 2006164361 oRBeowPage 5652 / 8691 ADDITIONAL COVENANTS In addivon to the covenants and agreements made in the Security Instrument Borrower and Lender further covenant and agree as follows ‘A ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES ‘The Note provides for an miual fixed snterest rate of 6 5000 % The Note also provides for ‘a change inthe iba fixed rate (oan adjustable inerest rate as follows 4 ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates ‘The smiual fixed interest rate I will pay wall change fo an adjustable anterest rate on the frst day of JUNE, 2009 and the adystable interest rate I will pay may change on that day every 12th ‘month thereafter ‘The date on which my imal fixed interest rate changes to an adustable intrest rate and ‘each date on which my adjustable intrest rate could change 1s called a "Change Date * (B) The Index Begonmng wath the first Change Date, my adjustable mnlerest rate wll be based on an Index The Index 1s the average of interbank offered rales for one year US dollar denomated deposits 1n the London market ("LIBOR") as published in The Well Siret Journal The most recent Index figure available as ofthe date 45 days before each Change Datei called the "Current Index" Ifthe Index 1s no longer available the Note Holder wall choose a new index that 1s based upon ‘comparable mformation The Note Holder wall give me notce of this choice (©) Calculation of Changes Before each Change Date the Note Holder will calculate my new interest rate by adding ‘TWO ANDONEQUARTER percentage posts ( 22500 %) to the Current Index The Note Holder wall then round the result of ths addiuon to the nearest one eighth of one percentage point (0 125%) ‘Subject to the hnmts stated in Section 4(D) below this rounded amount will be my new interest ‘ate unl the next Change Date (D) Limits on Interest Rate Changes ‘The anerest rate I am required to pay at the frst Change Date will not be greater than $000 % forless than 4 5000 % Thereafter my adjustable intrest rate will never be increased or decreased ‘on any single Change Date by more than two percentage pomts from the rate of interest Ihave been payang for the preceding 12 months My mterest rate will never be greater than 125000 % or less than 22500 % (©) Effective Date of Changes “My new interest rate will become effecive on each Change Date I will pay the amount of my new ‘monthly payment beginning on the frst monthly payment date after the Change Date until the amount of ‘my monthly payment changes again (Notice of Changes ‘The Note Holder wall ever or mai! to me a notice of any changes in my anita fixed interest rate (0 an adjustable interest rate and of any changes im my adjustable interest rate before the effective date of any change The notice will clude the amount of my monthly payment any wnformation required by law to be {given to me and also the tile and telephone number ofa person who will answer any question I may have regarding the notice Cony ‘© MULTISTATE FIXED/ADJUSTABLE RATE RIDER WSJ One-Year LIBOR Single Family INTEREST ONLY FE-4266 (0603) Page 2 of 4 Invtiats‘CN 2006164961 ORBookiPage 5652 / 8692 B TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1 UNTIL MY INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED ABOVE. UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT IS DESCRIBED AS FOLLOWS. ‘Transfer of the Property or a Beneficial Interest m Borrower As used in ths Section 18 “Interest the Property” means any legal or benefical mlerest mn the Property ancluding ‘but not lumited to those beneficial interests transferred in a bond for deed contract for deed installment sales contract or escrow agreement the mfent of which 1s the transfer of tile by Borrower ata future date toa purchaser If all or any part ofthe Property or any Interest inthe Property 1s sold or transferred (or af Borrower 1s not @ natural person and a beneficial interest in Borrower 1s sold or transferred) wihout Lender's prior wren consent Lender may require ammediate payment in full of| sums secured by ths Secunty Instrument However ths option shall not be exercsed by Lender af such exercise 1s prohibited by Applicable Law If Lender exercises this option Lender shall give Borrower notce of acceleration The notice shall provide a period of not less than 30 days from the date the nouce Is given in - accordance wath Section 15 within which Borrower must pay all sums secured by this Secunty Insirument If Borrower fails to pay these sums pror to the expiration of ths period Lender may snvoke any remedies permitied by thus Secunty Instrument without further notice or demand oa Borrower 2_ AFTER MY INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED ABOVE UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION 11(A) ABOVE SHALL THEN CEASE TO BE IN EFFECT AND UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT SHALL INSTEAD BE DESCRIBED AS FOLLOWS ‘Transfer of the Property or a Beneficial Interest m Borrower As used in ths Secon 18 “Interest nthe Property" means any legal or benefical terest in the Property including but not lied to those beneical interests transferred in a bond for deed contract for deed tnstallment sales contract oF escrow agreement the intent of which is the wansfer of tle by Borrower at afutuce date toa purchaser If all or any part ofthe Property or any Interest nthe Property sold or transferred (rif Borrower is aot a natural person and a benefical interest am Borrower 1s sold or transferred) vwathout Lender's prior writen consent Lender may require immediate payment i fll of all sums secured by ths Security Instrument However ths opuon shall not be exercised by Lender AF such exeras i prohbed by Apphcable Law Lender also shall ot exerese ts option if (@ Borrower causes to be submated to Lender information requred by Lender to evaluat the intended transferee as sf a new loan were being made to the transferee and (Q) Lender reasonably determunes that Lenders secuty wll ht be spasred by the loan assumption ad that the risk of a breach of any covenant or agreement n this Secunty Instrument is acceptable to Lender To the extent permitted by Applable Law Lender may charge a reasonable fee as @ condion to Lender 5 consent to the Ioan assumpion Lender also may requre the transferee to Sign an assumpuon agreement that acceptable to Lender and tat obligates the transferee to heep all the promses and agreements made i the Note and in ths Secanty Instrument Borrower wall conunue to be obligated under the Note and ths Secunty Instrument unless Lender releases Borrower In writng Conv © MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One Year LIBOR Single Family INTEREST ONLY FE-4266 (0603) Page 3 of 4 Irvuats fu ait(oFW 2008164361 or soowPage 5652 / 8693 If Lender exercises the option to require immediate payment in full Lender shall give Borrower nouce of acceleration The notice shall provide a period of not less than 30 days from ‘the date the notce 1s given in accordance with Section 15 vathin which Borrower must pay all sums secured by thus Secunty Instrument If Borrower fals to pay these sums pror to the expiration ofthis period Lender may invoke any remedies permitted by ths Secunty Instrument ‘wilhout further notice or demand on Borrower BY SIGNING BELOW Borrower accepts and agrees to the terms and covenants contaned in ths Fixed/Adustable Rate Rider 1 understand that for the Interest Only Period my monthly payments will not reduce the Principal balance on my loan My monthly payments after the Interest Only Period wall consst of both Principal and Interest and wall be higher additonal payments to reduce the Principal balance MAY 2 6 2006 (Gea) Borrower (Sea Borrower seat) Borrower (Sea) Borrower Conv © MULTISTATE FIXED/ADJUSTABLE RATE RIDER WSJ One Year LIBOR - Single Farly INTEREST ONLY FE 4266 (0603) Page 4 of 4‘Loan Number oar BRL SELEY or Ae ub OMIGINAL ! InterestOnly ADJUSTABLE RATE NOTE (One-Year LIBOR Index (As Published io The Wall Street Journal) - Rate Caps) ‘THIS NOTE CONTAINS PROVISIONS ALLOWING FOR A CHANGE IN MY FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE AND FOR CHANGES IN MY MONTHLY PAYMENT THIS NOTE LIMITS THE AMOUNT MY ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE | MUST PAY MAY 26, 2006 PALM BAY LORDA Das te (sete 1362 RABBIT STREET, S & , PALM BAY, FLORIDA 32909 Bropery Adres 1 BORROWER'S PROMISE TO PAY In retwm for a loan that I have recetved I prome to pay US $ 173,592 00 (is amount Is called ‘Prneipal) plus interest tothe order of Lender Leader is MVC MORTGAGE INC OF FE. {yl make all payments under this Note fa the form of cath check or money order ‘understand that Lender may transfer this Note. Lender of anyone who takes this Note by trancfer and who fs ended to secoive payments uader tis Note & called the ‘Nole Holder " 2 INTEREST Interest yall be charged on unpaid principal unt the full amount of Principal has been paid veil pay interest at yearly'raa of” 6 5000. % The satrest rato wil pay may change in accordance with Section & ofthis Note "The foterest rate required by this Section 2 and Section of this Note 1 the rate I wll pay both before and after any efault described in Seesion 708) of this Note 3° PAYMENTS (A) Tame and Place of Payments {ll make a payment every month Iwill make my monthly payment on the 1ST day of each month beganing on JULY, 2006 “This payment will be for interest only for ue fest 120 "months "iaterest Only Perlad”) ‘and thereafter my payments wall const of Pracipal and interest T will make my payenents every month until Ehave pad all ‘of the Prancipel en interest and any olher charges described below that Tay owe under this note Each monthly payment will be appliod as of lls scheduled due date” and If the payment includes both Prncigal and ‘nteceat it will be applied to inereat before Principal If on JUNE 1, 2036 stl ewe amounts ender (his [Note T wil pay hose amounts i fll on that dato. Which is called the “Maturty Date * wll make my monthly payments at 851 TRAFALGAR COURT SUITE 520 W, MAITLAND, FLORIDA, 2784 ‘Or ts diferent place if required by the Note Holder {®) Amount of My Inal Monthly Payments Each of my iniual monthly paymente will bein the amount af US $ 940.29 “This amount may change (©) Monthly Payment Changes ‘Changes in my monthly payment will reflect changes in the unpaid principal of my loan and in the snteest rate that 1 rmust pay ‘The Note folder will delermine my new interest rae sod the changed amount of my monly payment (1 teordance with Section 4 or 5 ofthis Note 4 ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (00 Chango Dates ‘The anal fixed interest rate I wall pay will change to an adjustable Interest rate an the rst day of | UNE 2009 ‘nd dhe adjustable amterest rate I will pay stay change on that day every 42: month dhereafter The date on which my intial fixed Interest rte changes (an adjustable Inerest rate and each dae on which my adjustable imerest fale could change is called a "Change Dats (@) The Index Beginning withthe first Change Dato my adjustable Interest rate will be based on an Index ‘The “Index” isthe averoge of interbank offered rales for one-year US dolla-denomitated deposits In the London market (LIBOR) as published n The Wall Street Journal ‘The most oteat Index figure avaliable as ofthe date 45 days before each Change Dats 1s called the TE the Indox ¢ no Tongee avaiable the Note Holder will choore a new mdex that is bared upon comparable mafocmation “The Note Holder wil lve me notice ofthis choice May {FEStuon inereetonty ADJUSTABLE RATE NOTE - ONE YEAR LIBOR INDEX Fine Featzesvt) eon Ton Pe seme OFe a (©) Catcatation of C Before each Change Date. the Note Holdec val calculate my new interest rate by ding TWO AND ONE-QUARTER [percentage points (2.2500. 9) to the Cutent Index ‘The Note Holder will then ‘ound the Fesul ofthis addition to tho asarest one-eighth of ons percentage point (0 125%). Sulyec to the lis stated 1a Section 4(D) below ‘thls rounded amount willbe my new interest rate unil the next Change Date {) Limits on Interest Rate Changes ‘Th lntecest rate Tam required to pay at the first Change Date wall not be greater than § 5000 _% or less than 45000 5. Thereafter, my adjustable Interest rate will never be increased or decreased on any slagle Change Date by {ore than two percentage points from the rate of interext X have been paying forthe preceding 12 months My Interest rate ‘Will never be greater than 12 5000" %6 or les than 22500. 96 () Effective Date of Changes ‘My new Interest rate will become effective on each Change Date I will pay the amount of my new monthly payment Sexi onthe fst monly peymest dal af: the Change Date ul eee of my only payment changes apn fouce ‘Before the effective date of any change in my interest ate and/or monthly payment the Note Holder will deliver or mail to me's notice of such change ‘The notice will wicude anformaton required by law to be given tO me and also the file and {tlephone number of person who wil answer any question I may have regarding the notice (©) Date of First Prancipal and Interest Payment ‘The date of my frst payment consisting of both Prancipal and interest on this Note (the "Fist Principal and Interest ‘Payment Due Date") will bs the first monthly payment date after the expiration date ofthe Interest Only Period 5 BORROWER'S RIGHT TO PREPAY ‘Thave the right to mako payments of Principal a any te before Gey are due A prepayment ofall the anpald principal is known as "Pall prepaymest. A prepayment of only part of the unpaid prinpal xs known asa "Partial Prepayment "1 make a Perla! Prepayment equal to one or more of my moulhly payments “my due date may be advanced no more Gan one mouth, IfT make any other Fartal Prepayment I aust sll make each later payment as becomes due and in the ‘same amount Twaay rake a Full ora Parual Prepayment at ary une TF this box is checked no prepayment penalty wall be charged on this loan IE this box Is checked T have selected a loan which has a prepayment penalty The Prepayment Pesslty Addendum tached hereto and mede a part hereof defines the terms of the propayment penalty. The Prepayment ‘Addendum Ssched hereto and made a part hereof defines the term of the prepayment penalty 1 nderstand that by ogrelng to pay & Prepayment penalty T acknowledge tha my interest rate and/or fees re lower than Uhey would be without e prepayment peealty 6 LOAN CHARGES ‘Ire law. whlch applies to (his loan and which sels mumim loan charges is SnallySnleproted so that the intrest or other foaa charges collected of to be collacied in conneesion with his foan exceed the permited Imits then (3) any such loan ‘charge shall be redoced by the amount necesrary to reduce the charge to the Permled bmlt and (®) way suns already ‘collected from ie dat exceeded permed Hants wall be refunded to me" "The Note Holder may choose to make Gus refund by ‘eden the Principal I owe under ths Note or by making a ditect payment to mac Ifa refund roduces Principal the redaction ‘Wil e treated ag a paral Prepayment 7 BORROWER $ FAILURE TO PAY AS REQUIRED () Late Charges for Overdue Payments If tie Note Holder hae not secelved the fll amount of any monthly payment by the end of FIFTEEN ‘qalendar days after the date it as due 1 wal pay a late charge to the Nole Holder “The amount of the charge will be Soe er te Sl yaoi? dle Ei ey ep nc a wa amt Peas OEE cs pomp bay So Se sma AFT do not pay the full amount ofeach monthly payment on the date xis dse Twill be im default (©) Notes of Default IF Lam in daft the Note Holder may send me x wniten notice telling me that iT do not pay the overdue amount by 2 certain date the Note Holder may require me to pay lmmediataly the full smogat of Principal tbat bas not been pald and ll the interest that Towe om that mount "That date mast be at lest 30 das aftr the date on which the notice is mailed to me oF ‘deivered by ather means ‘@) Ne Waiver By Note Holder Even If at a ime shen I'am in defaalt the Note Holder does not require me to pay Immediately in full xs deserbed ‘above tho Note Holder will sul have tho right to do so ifTam in defedt at after fe ‘Payment of Note Holder's Costs and Expenses the Note Holder has required me to pay immediately sn full as descebod above the Note Halder will have the right to ‘be pald back by me for ail of ts costs and expenses in enforcing tt Note 10 the extent not prohibuted by apphiable law ‘Those expenses include for example reasonable atorneys fees & GIVING oF NoTICEs . ‘Unless applicable aw require a different method any notice that must be given to me under this Note will be given by Aelivering i or by mailing it by fret class mall to me at the Propesty Address above oc ats different address IFT give the Note ‘Folder a notice of my different address ‘Unles the Note Holder requires different method any notice that must be given to the Note Holder under this Note “willbe given ly mmilng le by fret class mall to the Note Holder a the address stated In Section 9(A) above or at a diferent ‘dress fT am given a notice ofthat diferent address Re {$£Siaon usrentonty ADJUSTABLE RATE NOTE -ONE YEAR LIROR DEX Fesaasoe peas TOR NPE nee a © OBLIGATIONS OF PERSONS UNDER THIS NOTE. [It mace than one person sign ths Note each person ls fully and personally obligated to koep all ofthe promlses made in ‘dus Note inciading the promise to pay the full amount owed Any pervon who ss a guarantor surety or endorser of ts Note 1 also obligated 10 do these things” Any person who takes over thse obligations, induding the obligations of a guarantor, ‘surety or endorser of this Note Is also obligated to keep all ofthe promises mado n tus Note The Note Holder may enforce ts ghis under this Note against each person sndlvidusily or agalngt all of ur logeer “This means that any one of ws say be ‘equated to pay ll of Use amounts owed under ths Note : 10 WAIVERS and any ofher person who has obligations under this Note waive the rights of Presentment and Notce of Dishonor “Presentment” means the right to roqulre the Note Holder (o demand payment of tmounls due "Notice of Dishonor” means ‘the right fo equate the Nota Holder to give notice to other persons that amounts Gue have not been paid 31 SECURED NOTE. In addition to the protections given to the Note Holder under this Note a Mortgage Deed of Trust or Security Deed (he "Securty latrument") dated the same ate as this Note protects the Noto Holder from possible losses that might result if do not keop the promses which Tamake in this Note ‘That Secunty Instrument desenbes how and under what conditions 1 ‘may be required fo make immediate payment in full of all amounts I owe under ths Note Some of those conditions are (@)_ UNTIL My INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED ABOVE, ‘UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT IS DESCRIBED AS FOLLOWS “Transfer af the Property or a Beneficial Interest in Borrower As used tn ths Soction 18. "Interest in the Property’ means any legal or beneficial Snterest in the Property including’ bul not limited co thove beneficial {njeests transferred fa & bond for deed contract for deed. insallment sales Contractor escrow agreement the inent ‘of which Is the ansfer of ttle by Borrower ata tare date to a purchaser "Hal or any part ofthe Property or any Interest ia the Property Ie e010 or trancferred (or sf Bocrower isnot 2 satural person and a beneficial interest in Borrower is sold or transferred) without Lander = por wrillen consent Lender tay require immediate payment in full of all sums secured by this Secunty Instrument However this ‘option shall at be exerelsed by Lender if exercise is prohibited by Applicable Law 'f Lender exercises tis option Lender shall give Borrower notice of acceleration ‘The notice shall provide a period of not lees tan 30 daye fiom the date the notice is ven an accordance with Section 18 wallen which Borrower must pay all sums secured by this Security Instrument If Borrower falls to pay these sums prior to the ‘expration of Ou pesiod Lender may lavoke any remedies permalted by dhis Security Instrument without further notice or demand oa Borrower (AFTER MY INITIAL INTEREST RATE CHANGES UNDER THE TERMS STATED ABOVE ‘UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION 11(A) ABOVE. SHALL THEN CEASE TO BE IN EFFECT AND UNIFORM COVENANT 15 OF THE SECURITY INSTRUMENT SHALL INSTEAD BE DESCRIBED AS FOLLOWS “Transfer of the Property of a Beneficaal Interest in Borrower As used in this Section 18. ‘Interest in the Property” means any legal or benefieal Interest in the Property cluding but not Ibnited to. those benefictal ‘nterests transferred ia 8 bond for deed contract for deed installment sales Contractor escrow agreement the inlent ‘of winch Is the wansfer of Ue by Borrower af a future date to a purchaser : Tall or any part of the Property or ay Interest xn the Property is cold or trndferred (or if Borrower Is not 8 ‘natural person sad a beneficial Interest in Borrower Is sold oF transferred) without Lender's pror written consent Lender may require immediate payment in full ofall sums secured by this Securty Instrument However this ‘option shall not be exercised by Lender af such exercise is prohibited by Applicable Law Lender also shall not ‘exerees this option if (a) Borrower eawses to be submited to Lender informaton required by Lender to evaluate ‘he taended transferee se sf anew loan were being made to the transferee and () Lender reasonably determines {hat Lenders security will not be unpaired by the loan assumplon snd that the risk of a breach of any covenant oF ‘agreement in tis Secunty Instrument acceptable to Lender "Fo the exlent permuted by Applicable Law Lender may charge a reasonable fee as a condstion to Lender's ‘consent 10 the loan assumption Lender may also require the transferee to sign aa assumption agreement that Is ‘sccoptable to Lender and that obligates the transferee to keep al the promises and agreements made in the Note and {in ths Security Instrument Borrower will continue to be obligated under the Note and ths Security Instrument tinless Lender releases Borrower in witing 'f Lender exercises the option to require immediate payment sn full Leader shall give Borrower notice of acceleration ‘The notice shall provide 4 period of not les than 30 days from the date the notice 3s given in Socordance wath Section 15 wilin which Borrower must pay all sums secured hy his Security Instrument If Borrower falta to pay These sums proor to the expiralion oF tis perlod “Lender may tavoke any remedies permitted ‘by tis Secanty Trstrument without further notice or demand on Borrower 1 Lender exercises the option to require immediate payment an full Lender shall lve Bocrower note of acceleration “The notice shall provide a period of aot less tian 30 aye from the date the nodice is given In accordance with Section 15 ‘within which Bocrower mact pay all sams secured by the Security Instrument, Tf Borrower fails to pay these sums prior to the ‘Baton of ls period Lender may evoke my femeden permite ty hs Seca fsrunent wthont further notice or ‘on Borrower {BiSlunn inerestonty ADJUSTABLE RATE NOTE ONE YEAR LIROR IDEX ie Feazestri) wren Ton NE et12 DOCUMENTARY TAX ‘Tie state documentary tox due on his Note has been pau on the mortgage securing this indebtedness WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED understand that for the Interest Only Perod my monthly payments will not reduce the Principal balance on my Toan My monthly payments after the Interest Only Period wall consist of both Principal and interest and willbe higher unless ‘Thave made addsbonal payments to reduce the Principal balance {Sign Original Only) WITHOUT RECOURSE PAY 70 THE ORDER OF SOU Wide EAR YEC MORTGAGE INC OF x5. SSS