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‘CFI; 20230135984 BOOK 33600 PAGE 4962 DATE:09/01/2023 10:04:17 AM MTG DOC 3,485.00 INTANGIBLE 1,980.00 LUIS G. MONTALDO, CLERK AD INTERIM MIAMLDADE COUNTY, FL WHEN RECORDED, SEND TO: IRST REPUBLIC BANK 111 PINE STREET SAN FRANCISCO, CA 94111 ‘This instrument was prepared by: Pamela Solomon FIRST REPUBLIC BANK 111 PINE STREET SAN FRANCISCO, CA 94111 415-392-1400 Loan Number: 22-08502254 (Space Above This Une For Recording Data) MORTGAGE DEFINITIONS ‘Words used in multiple sections ofthis document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21 Certain roles regarding the usage of words used in this document are also provided in Section 16 (A) "Security Instrument" means this document, which is dated February 22, 2023, together with all Riders to this document. (B) "Borrower" is Alexander Luis Bucelo and Cristina Bucelo, husband and wife, ‘Borrower is the mortgagor under ths Security instrument, (©) "Lender" is FIRST REPUBLIC BANK. Lender is A STATE BANK, organized and existing under the laws of CALIFORNIA. Lenders address is 111 PINE STREET, SAN FRANCISCO, CALIFORNIA 94111. Lender is the mortgagee under this Security Tnstrument. (D) "Note" means the promissory note signed by Borrower and dated February 22, 2023, The Note states that Borrower owes Lender NINE HUNDRED NINETY THOUSAND AND NO/100 Dollars (U.S. $990,000.00) ph interest. Borrower has promised to pay this ‘debt in regula: Periodic Payments and to pay the debt in fll not later than March 1, 2053, (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all suns due under this Security Instrument, phis intrest. FLORIDA- Single Fomly- Fannie MafFrodae Mac UNIFORM INSTRUMENT Form 3010 101 "98 7 UU DSERE LAST AR Sl ‘CFI; 20230135984 BOOK 33600 PAGE 4963, (G) "Riders" moans all Riders to this Security Instrument that are executed by Borrower, The following Riders are to be executed by Borrower (check box as applicable): [X] Adjustable Rate Rider] Condominium Rider (Second Home Rider D)_ Balloon Rider [Planned Unit Development Rider = CJ VARider 1-4 Famity Rider 1 Biweekly Payment Rider Bother (Specify) (FP "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rales and orders (that have the effeet of law) as wel as all applicable final, non-appealable judicial opinions. () "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges tha are imposed on Borrower or the Property by # condominium association, homeowners association or similar organization (B) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper ‘instrament, which is initiated through an eleetrone terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, oF futhorize e financial insiation to debit or ered an account. Such term includes, but isnot limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3 (L) "Miscellancous Proceeds" means any compensation, settIement, award of damages, or proceeds paid by any third party (other than ingurance proceeds paid under the coverages deseribed in Section 5) for: (i) damage to, of destruction of, the Property (i) condemnation ‘or other taking ofall or any putt ofthe Property; (if) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as 'o, the value and/or condition of the Property. (M) "Mortgage Insurance” means insurance protecting Lender against the nonpayment of, or default on, the Loan, (N) "Periodic Payment" means the regularly scheduled amount due for () principal and interest under the Note, plus (i) any amounts under Section 3 ofthis Security Instrument (O)"RESPA” means the Real Estale Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing regulation, Regulation X (12 CFR, Part 1024), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are ‘imposed in regard to a "federally related mortgage loan” even ifthe Loan does not qualify as "federally related mortgage loan under RESPA, (P) "Successor in Interest of Borrower” means any party that has taken ttle to the Property, whether or not that party has assumed ‘Borrowers obligations under the Note and/or this Security Instrument. ‘TRANSFER OF RIGHTS IN THE PROPERTY ‘This Security Instrument sccures to Lender: () the repayment of the Loan, and all renewals, extensions and modifications of the "Note; and (i) the performance of Borrower's covenants and agreements under this Security Instrument and the Note, For this purpose, Borrower does hereby morigage, grant aad convey to Lender, the following described property located in the County of Miami-Dade: See Attached Exhibit "A’ Parcel ID Number: 03-4107-23-0020 ‘which currently has the address of: ("Property Address"): 1432 Venetia Avenue Coral Gables, FL 33134 ‘TOGETHER WITH all the improvements now or hereafter erected on the property, end all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property. FLORIDA Siile Family Fannie Mae/Predae Mac UNIFORM STRUMENT or T0104 1S be atm srtanszzs-semeMTMT Paras ULES ECHR AES ‘CFI; 20230135984 BOOK 33600 PAGE 4964 BORROWER COVENANTS that Borrower is lawllly seised of the estate hereby conveyed and has the right to mortgage, grant and ‘convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend ‘generally the tite to the Property against al claims and demands, subject to any encumbrances of record. ‘THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction o constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1, Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges duc under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in US. eurreney. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be ‘made in one of more ofthe following forms, as selected by Lender: (a) cash; (b) money order, (c) certified check, bank check, weasurer’s check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the natice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to 12 the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payinent or partial payments inthe Future, but Lender is not obligated to apply such payments atthe time suck payments are accepted. If each Periodic Payment is applied as ofits scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes paymont to bring the Loan eurrent. If Borrower does not do $0 within a reasonable period of time, Lender shall either apply such finds or return them to Borrower. not applied earlier, such funds will be applied tothe outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future agains! Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured bby this Security Instrument, 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied inthe following order of priority: (a) interest due under the Note; (b) principal due under the Note; (e) amounts ‘due under Section 3, Such payments shall be applied to each Periodic Payrent in the order in which it became due. Any remaining ‘amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note Ti Lender receives a payment from Borrower for a delinquent Periodie Payment which includes a suficient amount to pay any late arg du, the payinent ray bs applied to tho dsinguent payment and he lat charge more than ore Periodic Payments oustanding, Lender may apply any payment received from Borrower to the repayinent of the Periodic Peyments if, and to the extent that, each payment ean be paid io fll. To the extent that any excess exists aftr the payment is applied tothe full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges ‘and then as described in the Note. ‘Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date or change the amount, ofthe Periodic Payments. 3, Funds for Eserow Ttems. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in Full, a sum (the "Funds") éo provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property. ifany;(e) premiums for any and all insurance required by Lender under Section §; and (4) Mortgage Insurance premiums, if eny. or any sums payable by Borrower to Lender in liew of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender ray require that ‘Community Association Dues, Fees, and Assessments, ifany, be escrowed by Borrower, and such dues, fees and assessments shal be an FLORIGA Szgle Fanly- Fannie MaciFreddie Wac UNIFORM INSTRUMENT Form 30 TT UI DES ESHA EN AS R ‘CFI; 20230135984 BOOK 33600 PAGE 4985, Escrow Item. Borrower shall prompily furish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Eserow Items, Lender may waive ‘Borrower's obligation to pay to Lender Funds for any or all Eserow Items a any time. Any such waiver may only be ia writing. In the eve of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow items for which payment of Funds has been waived by Lender and, if Lender requires, shall farnish to Lender receipts eviéencing such payment within such time period as Lender may require, Borrower's obligation to make such payments and to provide receipts shall forall purposes be deemed to be a covenant and agresimen! contained in this Security Instrument, as the phrase "covenant and agrecment" is used in Section 9. If Borrower is obligated to pay Escrow Tiems directly pursuant to a waiver, and Borrower fails o pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Ttems at anytime by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3 Lender may, at any time, collect and hold Funds in an amount (2) sufficient to permit Lendes to apply the Funds a te time specified under RESPA, and (6) no! to exesed the maxiowum amount iender can require under RESPA. Lender shal estimate the amount of Funds duc on the basis of curvent data and reasonable estimates of expenditures of future Escrow lems or otherwise in accordance with Applicable Law. "The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender isan institution whose deposits ae so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the ‘Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, amnually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower intrest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, un annual accounting of the Funds as required by RESPA. Tr there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess finds in accordance with RESPA. If there is a shortage of Funds held in eserow, as defined under RESPA, Lender shall notify Borrower as ‘required by RESPA, end Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there isa deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficieney in accordance with RESPA, but inno more than 12 taonthly payment, ‘Upon payment in fll ofall sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender, 4. Charges; Liens. Borrower shall pay all axes, assessments, charges, fines, and impositions attributable tothe Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Eserow Items, Borrower shall pay them in the manner provided in Section 3. ‘Borrower shall promptly discharge any lien which has priority over this Seeurity Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such ‘agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's ‘opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are ‘concluded; of (c) secures ftom the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to alien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date op which that nolice is given, Borrower sball satisfy the lien ar take one or more of the actions set forth above in this Section 4. Lender may tequire Borrower to pay a one-time charge for a realestate tax verification and/or reporting service used by Lender in ‘connection with this Loan. FLORIDA Single Family - Fannie MaciFredale tae UNIFORM INSTRUMENT rm SO TT ‘CFI; 20230135984 BOOK 33600 PAGE 4988, '5 Property Insurance. Borrower shall keep the improvements now existing or betesfter erected on the Property insured against loss by fire, hazards included within che term “extended coverage,” and any other hazards including, but not limited to, earthquakes and. floods, for which Lender requires insurance, This insurance sual be maintained inthe amounts (incliding deduetibi levels) an for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loaa, The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender’ right to disapprove Borrower's choice, which right shall not be exereised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time for flood zone determination, certification and tracking services; or (b) a onevline charge for flood zone determination and certification services and subsequent charges each time Temappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency ‘Management Agency in connection with the review of any flood zone determination resulting fiom an objection by Borrower. If Borrower fails to maiatain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and ‘Borrower's expense, Lender is under no obligation lo purchase any particular type or amount of coverage, Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Bosrowers equity in the Property, or the contents ofthe Property, against any risk, hazard or lability and might provide greater or lesser coverage than Was previously in effect. Borrower acknowledges thatthe cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts sisbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amoun's shall bear interest at the Note rate from the date of disbursement and shall be payable, with such inerest, upon notice from Lender to Borrower requesting payment, ‘Al insurance policies required by Lender and renewals of such policies shall be subject to Lender right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as morigagee and/or as an additional loss payee. Lender shall have the ight to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid [Premiums and renewal notices, If Borrower obtains any form of insurance coverage, not otherwise requited by Lender, for damage to, oF ‘Gestruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an ‘additional loss payee. Th the event of loss, Borrower shall give prompt notice tothe insurance carrier and Lender. Lender may make proof of loss if not ‘made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, ifthe restoration or repair is ‘economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold ‘such insurance procceds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender’ Satisfaction, provided that such inspection shal be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in ‘a single payment or ina series of progress payments asthe work is completed. Unless an agreement is made in writing or Applicable Law ‘requires interest to be paid on such insurance proceeds, Leader shall not be required to pay Borrower any interest or earings on such proceeds. Fees for public adjusters, or ther third parties, retained by Borrower shall not be paid out ofthe insurance proceeds and shall be the soie obligation of Borrower. Ifthe restoration or repair is not economically feasible or Lender’ security would be lessened, the insurance proceeds shall be applied tothe sums secured by this Security Instrument, whether or not then due, withthe excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If ‘Borrower does not respond within 30 days to aotice fom Lender thatthe insurance carrer has offered to setlea claim, then Lender may nogotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property lunder Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not ‘0 ‘exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right so any Tefund of uneamcd premiums paid by Borrawer) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpai under the Note or tis Security Instrument, whether or not then due. 6. Occupaney. Borrovier shall occupy, establish, and use the Property as Borrowers principal residence within 60 days after the cexccution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for atleast one year FLORIDA Single Fay = Fannie WasiFredehe Mac UNFORU WSTRUMERT Form 3070104 WEISS EASES ‘CFI; 20230135984 BOOK 33600 PAGE 4967 after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless ‘extenuating citcurstanees exist which are beyond Borrower's conta. 7. Preservation, Maintenance and Proteetion of the Property; Inspections. Borrower shal! not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Proper. Whether of not Borrawer is residing in the Property, Borrower shall maintain the Property in order te prevent the Property from deteriorating or decreasing in value duc ta its condition, Unless itis determined pursuant to Section 5 that repair or restoration is not economically feesible, Borrower shalt promplty repair the Property if damaged to avoid further deterioration or damage. If insurance or condenwration proceeds are pad in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Ifthe insurance or condemnation proceeds are not suflicient to repair or restore the Property, Borrawer is not relieved of Borrower's obligation far the completion of such repair or restoration. "Lender of its agent may make reasonable entries upon and inspections of the Property. IF ithas reasonable cause, Lender may inspect the interior ofthe improvements on the Propery. Lender shell give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting atthe direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or imaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations conceming Borrower's occupancy ofthe Property as Borrower's principal residence. 49. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If(a) Borrower fails to perform the covensnts and agreements contained inthis Security Instrument, (b) there isa legal proceeding that might significantly affect Lenders interest in the Property and/or rights under this Security Instrument (such as » proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), oF (€) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lenders interest in the Property and rights under this Seeurity Instrument, including protecting and/or assessing the value of the Property, and ‘securing and/or repairing the Property. Lenders actions cam include, but ars not limited to: (a) paying any sums secured by a lien which hs priosty over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys fees to protect its interest in the Property and/or rights under this Security Iastrument, including its secured position in a bankruptcy proceeding. Seouring the Property includes, but isnot limited to, entering the Property Co make repairs, change lock, replace or board up doors and windows, drain water fom pipes, efiminate building or other code violations or dangerous conditions, and have uulities tumed on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. I is agreed that Lender incurs no liability for not taking any or all actions authorized under this Seaton 9 "Any amoutts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest atthe Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. ‘this Security Insirument ison a leasehold, Borrower shall comply with llth provisions of the lease. If Borrower acquires fee title to the Property, the leaschold and the fee ttle shall not merge unless Lender agrees to the merger in waiting, 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ‘eases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obiain coverage substantially equivalent ro the Mongage Irsurance previously in effec, at a cost substantially equivalent to the cast to Borrower of the ‘Mortgage Insurance previously in effect, from an alternate morigage insurer selected by Lender, If substantially equivalent Mortwage Insurance coverage is not available, Borrower shall continue to pay to Lender the umount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as 2 non-refundable loss of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact thatthe Loan is ultimately paid FLORIDA Sigs Fay - Fannie Mawes Wac UNIFORM WSTRUMENT Form 3090 F4 WU BERS ESSA ‘CFI; 20230135984 BOOK 33600 PAGE 4968, {in full, and Lender shall not be requized to pay Borrower any interest or earnings on such los reserve. Lender can no longer require loss reserve payments if Morgsge Insurance coverage (inthe amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes availabe, is obtained, and Lender requires separately designeted payments loward the premiums for Mortgage: Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effet, orto provide » non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Taw. Nothing in ths Section 10 affects Borrowers obligation to pay interest a the rate provided in the Note. ‘Mortgage Insurance reimburses Lender (or any enlity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower isnot a party o the Mortgage Insurance. ‘Mortgage insure's evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other patties that share or modify their risk, or reduce losses, These agreements are on terms and conditions that are satisfactory to the Tmorigage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds thal the mortgage insurer may have available (which may include funds obtained from Morigage Insurance premiums), ‘Asa result of these agreements, Lender, ny purchaser ofthe Note, another insurer, any reinsurer, any other entity, or any affiliate of any ofthe foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer’ risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer’ risk in exchange for a share of the premiums paid wo the insurer, the Arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan, Such agreements will not inerease the amount Borrower will ewe for Mortgage Insurance, and they will not ‘entitle Borrower to any refund. {b) Any sueh agreements will mot affect the rights Borrower has ~ if any — with respect co the Mortgage Insurance under the Homeowsers Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to ‘request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture, All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair ofthe Property, ifthe restoration or tepaic is economically feasinle and Lender's security is not lessened. During such repair and restoration period, Lender shal have the tight to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been ‘completed to Lender's satisfaction, provided that such inspection shall be undertaker: promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing ‘or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest fr earings on such Miscellaneous Proceeds. Ifthe restoration or repair is iot evonomically feasible ox Lender's security would be lessened, the Miscellaneous Proceeds shal be applied to the sums secured by this Security Iestument, whether or not then due, with the ‘excess if ay, paid to Borrower. Such Miscellaneous Proceeds shall be applied inthe order provided for in Section 2. Inthe event of a total taking, destruction, or loss in value ofthe Property, the Miscellaneous Proceeds shall be epplied o the sums secured by this Security Instrument, whether or aot then duc, with the excess, if any, pad to Borrower Inthe evert of a partial taking. destruction, or loss in value ofthe Property in which the fa market value ofthe Property immediately bofore the partial taking, destruction, of loss in value is equal to or greater than the amount of the sums secured by this Security Instrument irsmediately before the panial taking, desirsction, or loss in value, unless Borsower and Lender othecwise agree in wnting, the sums secured by this Security Instrument shall 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, destruction, or loss in value divided by (b) the fair ‘market value of the Property immediately before the partial taking, éesiruetion, or loss in value, Any balance shall be paid to Borrower. FLORID: Form 3010" 703 ede Woe UNFORT rs Peete BD BRSPSEW SHAT EARS ‘CFI; 20230135984 BOOK 33600 PAGE 4969 Inthe event ofa partial taking, destruction, or loss in value of the Property in which the fait marke value ofthe Property immediately before the partial taking, destruction, or loss in value is less than the amount ofthe sums secured immediately before the patil taking, destruction, oF loss in value, ualess Borrower and Lender herwise agree in ving, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then duc. Tethe Property is abandoned by Borrower, or if afler notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an avvard to settle a claim for damages, Borrower fails o respond te Lender within 30 days after the date the hotice is piven, Leader is authorized to collect and apply the Miscellaneous Proceeds ether to restoration or repair of te Property orto the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miseellancous Proceeds or the paty against whom Borrower has aright of action in regard to Miscellaneous Proceeds. ‘Borrower shall be in default iTany action or proceeding, whether civil or criminal, is begun that, in Lenders judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Scetion 19, by causing the action or proceeding to be dismissed witha ruling that, in Lender's judgment, precludes forfeiture of tie Propesty or other material impairment of Lenders intrest in the Property or rights under this Security Insirument. The proceeds of any award or claim for damages that are ‘altribulable to the immpauzment of Lenders interes in the Property are hereby assigned and shall be paid to Lender. ‘All Miscellaneous Proceeds that are not applied to restoration or repair ofthe Property shal be applied in the order provided for in Seation 2 12, Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower Shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lenders acceptance of payments from third persons, entities or Successors in Tnterest of Borrower or in amounts less than the amount then duc, shall not be a waiver of oF preclude the exercise of any right or remedy, 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and lability shall be join and several, However, any Borrower who co-signs this Sccurity Instrument but does not exceute the Note (2 "co-signer" (a) is eo-signing this Soeurty Instrument only to mortgage, grant and convey te co-signer's interest in the Property tinder the terms of tis Security Instrument; (b) is not personally obligated fo pay the sums secured by this Security Instrument; and {6) agrees thal Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the {erm of this Security Instrument or the Note without te co-signe’s consent ‘Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liabitity under this Scourty Instrument unless Lender agrees to such release in writing. The covenanis and agreements ofthis Security Insrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lenders interest in the Property and rights under this Seeurty Instrument, ineluding, but not limited to, attorneys fees, property inspection and valuation fees In regard to any other fees, the abscne of express authority i this Seeurity Tastrament 0 charge A specific fee to Borrower shall not be construed as a profibition on the charging of such fee, Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. Tf the Loan is subject to a law which sets maxirmum loan charges, and that law is finally interpreted so that the interest or other loan charges eollecied or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such Joan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit, and (b) any sums already collected from Borrower which exceeded permitted limits will be refinded to Borrower, Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment 1o Borrower, Ia refund reduces principal, the reduction will be treated as a partial prepayment FLORIDA™ Single Famly- Fannie WaoF rede Wac UNFORNT STRUMENT, Form 30701701 TU SSCS URNS ‘CFI; 20230135984 BOOK 33600 PAGE 4970 without any prepayment charge (whether ot not 2 prepayment charge is provided for under the Note). Borrower's aeceplance of any such refund made by direct payment to Borrower will constitute @ waiver of any right of action Borrower might have arising out of such overcharge. 15, Notices, All notices given by Borrower or Lender in connection with this Secwrity Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shal be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify 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 adress under this Security Instrument at any one time, Any notice 10 Lender shall Be given by delivering it or by mailing it by fist class wail to Lender's address sated herein uniess Lender has designated another address by notice to Borrower. Any notice in connection with this Scourity Insirarment shall not be deeined to have been given to Lender until actually eceived by Lender, If any notice required by this Security Instrument is also required under Applicable Law, the Applicsble Law requirement will satisfy the corresponding requirement under this Security Instrument. 16, Governing Lav; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law ‘ofthe jurisdietion in which the Property is located. All rights and obligations contained in this Security Insirument are sobject to any ‘requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly aliow the partes to agree by contractor it ‘might be silent, but such silence shall not be construed asa prohibition against agreement by contract. Inthe event that any provision or clause of this Security (usrument or the Note conflicts with Applicable Law. such conflict shall not affect other provisions of this Security Instrument ofthe Note which can be given effect without the conflicting provision. "As used inthis Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice verss; 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 of this Security Instrument. 18, Transfer of the Property or a Beneficial Interest in Borrower. As used inthis Section 18, “Interest in the Property* means, any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, Contract for deed, installment sales contractor escrow agreement, the intent of which is the transfer of title by Borrower ata furre date to a purchaser Tall of any part of the Property or any Interest inthe Property is sold or transferred (or if Borrower is nota natural person and a ‘beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of ll sums secured by this Security Instrument, However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Taw. TtLender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than [30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior tothe expiration of this period, Lender may invoke any remedies permitted by this Security instrament without further notice or demand on Borrower. 19, Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement ofthis Security Instrument discontinued a aay time prior tothe earliest of (a five days before sale ofthe Property pursuant {o any power of sale contained inthis Security Insirument;(b) such other period as Applicable Law might specify for the Lermination of Borrower's right to reinstate; or (c) entry of a judgrsent enforcing this Security Tastrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Sceurity Instrument and the Note as ifno acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attomoys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest inthe Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under tis Security Instrument, and Borrower's obligation to pay the sums secured FLORIDA Sale Family Fannie MaaiFreddia Wac UNIFORM WSTRONERT Form 3090 105 sionease- serena Passat MBSE EHI| ‘CFI; 20230135984 BOOK 33600 PAGE 4971 by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in fone ot more of the following forms, as selected by Lender: (a) cash; (b) money order; () certified check, bunk check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity, or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as ifn acceleration had occured. However, this right to reinstate shall not apply inthe ease of acceleration under Section 18. 20, Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security instrument) can be sold one of more times without prior natice to Borrower. A sale might result ina change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage Joan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a chenge of the Loan Servicer, Borrower will be given written notice of the ‘change which will state the name and address ofthe new Loan Servicer, the address to which payments shot be made and any other information RESPA requires in connection wih a notice of wansfer of servicing. Ifthe Note is old and thereafter the Loan i serviced by ‘2 Loan Servicer other than the purchaser ofthe Note, the morgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transfered toa successor Loan Servicer and are not assurned by the Note purchaser unless otherwise provided by the Note ‘Neither Borrower nor Lender may commence, join, or be joined to any judicial action (a either an individual ttigant or the member ‘ofa class) that arises from the other par’ actions pursuant to this Security Instrument or that alleges thatthe other party has breached ‘any provision ofr any duty awed by reason of, this Security Instrument, until such Borrower ot Lender has notified the other party (vith such notice given in compliance with the requirements of Seetion 15) of such elleged breach and afforded the other party hereto a reasonable period after the eiving of such notice to take corrective action. If Applicable Law provides atime period which must clapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions ofthis Section 20. 21, Hazardous Substances. As used in this Soction 21: (a) "Hazardous Substances” are those substances defined as toxic or hazardous substances, polfotans, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable oF toxie petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) “Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Envisoamental Cleanup" includes any response action, remedial action, or removal action, a8 defined in Environmental Law; and (€) an "Environmental Condition” means a condition that can eause, contribute 0, oF otherwise tigger an Environmental Cleanup. ‘Bocrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on ot in the Propery. Borrower shall not do, nor allow anyone else to do, anyihing affecting the Property (a) that isin violation of any Environmental Law, (b) which creates an Environmental Condition, ot (¢) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value ofthe Property. The preceding {wo sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (mcluding, but not limited to, hazardous substances in consumer products) ‘Borrower shall promplly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any {governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not ltited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (e) any condition caused by the presence, use or release of a ezardous Substance ‘which adversely affects the value of the Property, I Borrower lears, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation af any Hazardous Substance affecting the Property is necessary, Borrower shal promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. FLORIDA Srgle Farniy- Fannie MaeiF redaie Mac UNIFORW INSTRUMENT. For S070 1 ME BESSA FEELERS RS ‘CFI; 20230135984 BOOK 33600 PAGE 4972 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree a follows: 22, Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this 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 (o cure the default; () a date, not les th 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure (o cure the default ‘on or before the date specified in the 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 further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender at its option may require Immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Tastrument by judicial proceeding. Lender shall be entitled to collet all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys" fees and costs of ttle evidence. 23, Release. Upon payment ofall sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs, Lender may charge Borrower a fee for releasing this Security Instrument, but only ifthe fee is paid toa third pany for services rendered and the charging of the fee is permitted under Applicable Law. 24, Attorneys’ Fees. As used in this Security Instrument and the Note, atorneys’ fees shall include those awarded by an appellate ‘court and any attorneys fees incurred in bankruptcy proceeding, 25, Jury Trial Waiver. The Borrower hereby waives any right to trial by jury in any action, proceeding, claim, or countercl ‘whether in contract oF tort, at law or in equity, arising out of or in any way related to this Security Instrument or the Note ‘FLORIDA Sing Far Mac UNIFORW INSTRU Fare SF 0% non MUL ERSARYRLEAC RSE EI ‘CFI; 20230135984 BOOK 33600 PAGE 4973 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. ‘Signed, sealed and delivered inthe presence of: Het Fao Wines Raker PeraLa Wines cn _ CP, x.000 eon ret aaaeet i See ay, sake 10 ea See STATE OF FLORIDA COUNTY OF AN © The foregoing instrument was acknowledged before me by means of physical presence or Jontine notarization, this day o_o sit $ by Alexander Luis Bueelo and Cristina Bucelo, who is ‘esonally Knows to me grgvho has prdduced 1s identification. (Siguatre of pay taking cknowledgement) 4 (Name typed, Printed or stamped) Nolary Public State of Floriéa ‘Raene) Peraza Bs My Commission ni 304861 Expires sveare02s (Tile or rank) ‘Gerial number, any) Loan originator (Organization): FIRST REPUBLIC BANK; NMLS #: 362814 Loan originator (Individual): Seott J Dufresne; NMLS #: 487238 FLORIDA” Sagle Family Fannie MaeiFreddie Wac UNIFORM INSTRUMENT Farm 3090104 BASHERNGGELER TERRI ‘CFI; 20230135984 BOOK 33600 PAGE 4974 Loan Number: 22-08502254 EXHIBIT "A" LEGAL DESCRIPTION For Property located at: 1432 Venetia Avenue, Coral Gables, FL 33134 “The legal description of said property is described as follows: See Legal description(s) attached hereto and by this reference made a part hereof. Rev, SOE BURSA M AREA ‘CFI; 20230135984 BOOK 33600 PAGE 4975 Exhibit A Lot 2, Block 1, of VENETIA ESTATES, according to the Plat thereof as Recorded in Plat Book 134, Page 88, of the Public Records of Miami-Dade County, Florida. Parcel Identification Number: 03-4107-023-0020 File Number: AB 23-112 DoubieTime? ‘CFI; 20230135984 BOOK 33600 PAGE 4978 Loan Number: 22-08502254 ADJUSTABLE RATE RIDER (average of the twelve most recently published monthly yields on United States Treasury securities adjusted to a constant maturity of one year (As Published In FederalReserve.gov)-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 22nd day of February, 2023, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower') to secure Borrower's ‘Adjustable Rate Note (the "Note") to FIRST REPUBLIC BANK (the "Lender") of the same date and ‘covering the property described in the Security Instrument and located at: 1432 Venetia Avenue Coral Gables, FL 33134 (Property Address) ‘THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES ‘The Note provides for an initial interest rate of 4.700%. The Note provides for changes in the interest rate and the monthly payments as follows: 4, INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates ‘The interest rate I will pay may change on the Ist day of March, 2030, and on that day every 1 month thereafter. Each date on which my interest rate could change is called a "Change Date.” (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The Index is the average of the twelve most recently published monthly yields on United States Treasury securities adjusted to a constant maturity of one year. The Note Holder will calculate the average by adding together the monthly yields for the preceding twelve months available as of the date 45 days before the Change Date SFPHPINITMTT Rider FRB Custom - 74364 - 11 1-08502254 - SFPHPINITMT1Page 1 of 3 MEI DESASEHTAL SHANA RS ‘CFI; 20230135984 BOOK 33600 PAGE 497 and then by dividing this result by twelve. The Note Holder will round the sesult of the division to the nearest one-thousandth of one percentage point (.001%). The most recent Index figure available on each ‘Change Date is called the "Current Index’ If the Index is no longer available or is otherwise unpublished or in Note Holder's sole discretion is determined to be substantially recalculated, the Note Holder will choose a new index which may include a ‘new margin to be added to that index, to provide a comparable rate, The Note Holder will give me notice of this choice, (© Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO AND ONE HALE percentage points (2.500%) to the Current Index. The Note Holder will then round the result of this addition tothe next highest one-eighth of one percentage point (0.125%). Subject tothe limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. ‘The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that Tam expected to owe at the Change Date in full on the maturity date at my ‘new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes ‘My interest rate will never be greater than 10.950%, nor less than 3.950%. () Effective Date of Changes My new interest ratc will become effective on each Change Date. I will pay the amount of my new ‘monthly payment beginning on the first monthly payment date after the Change Date until the amount of ‘my monthly payment changes again. (E) Notice of Changes ‘The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount ‘of my monthly payment before the effective date of any change, The notice will include information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER (A)_ UNTIL MY INITIAL FIXED INTEREST RATE CHANGES TO AN ADJUSTABLE INTEREST RATE UNDER THE TERMS STATED IN SECTION 4 ABOVE, UNIFORM ‘COVENANT 18 OF THE SECURITY INSTRUMENT IS DESCRIBED AS FOLLOWS: “Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property ‘or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender ‘may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal aw as of the date of this Security Instrument, If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days ftom the date the notice is delivered or mailed within ‘which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay ‘these sums prior to the expiration ofthis period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. (8) WHEN MY INITIAL FIXED INTEREST RATE CHANGES TO AN ADJUSTABLE INTEREST RATE UNDER THE TERMS STATED IN SECTION 4 ABOVE, UNIFORM COVENANT 18 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION 11(A) SFPHPINITMT? Rider FRB Custom - 74364 - 111-08502254 - SEPHPINITMT1Page 2 of 3 SRE RSA RSM ‘CFI; 20230135984 BOOK 33600 PAGE 4978 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 in Borrower. [fall or any part of the Property or any interest in itis sold or transferred (or if @ beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (@) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement inthis Security Instrument is acceptable 10 Lender. ‘To the extent permitted by applicable law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep al the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Bortower. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. a (sea) Pu ive (Seal) Alexghder aia Bucelo -Borrower Cristina Bucelo Borrower SFPHPINITNITY Rider FRE Custom - 74364 -111-08502254 - SEPHPINITMT1Page 3 of 3 WIGS ASI

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