Complaint May 16, 2011 (2024)

 
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 IN-THE CIRCUIT COURT OF THE 9TH JUDICIAL CIRCUIT, IN AND FOR ORANGE COUNTY, FLORIDA CIVIL DIVISION: CASENO.: Qotl- A- 5373 On =F # Ye me $ Ticor Title Insurance 489 State Road 436, Suite 117 Casselberry, FL 32707 Book8601/Page857 CFN#20060262691 Page 1 of 12Vl WBCD LOAN # 501020565(H) “Riders” means all Riders to this Security Instrumentthat are executed by Borrower. The following Riders are to beexecuted by Borrower [check box as applicable}: (CJAdjustable Rate Rider |Condominium Rider C2 Second Home Rider (Balloon Rider (Planned Unit Development Rider [_]Other(s) [specify] (1-4 Family Rider (Biweekly Payment Rider COWV.A. Rider() “Applicable Law” means all controlling applicable federal, state and local statutes, regulations, ordinances andadministrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicialopinions.(@) “Community Association Dues, Fees, and Assessments” means all dues, fees, assessments and other chargesthat are imposed on Borrower or the Property by a condominium association, homeowners association or similarorganization.(K) “Electronic Funds Transfer” means any transfer of funds, other than a transaction originated by check, draft, orsimilar paper instrument, which is initiated throughan electronic terminal, telephonic instrument, computer, or magnetictape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is ‘not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) “Escrow Items” means those items that are described in Section 3. (M) “Miscellanoous Proceeds” means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: ()) damage to, or destruction of, the Property; (i) condemnation or other taking of all or any part of the Property; (ji) conveyance in lieuof condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) “Mortgage Insurance” means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) “Periodic Payment” means the regularly scheduled amount due for (j) principal and interest under the Note, plus (i) any amounts under Section 3 of this Security Instrument.(P) “RESPA” means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementingregulation, Regulation X (24 C.F.R. Part 3500), 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” to all requirements and restrictions that are imposed in regard to a “federally related mortgage loan” even if theLoan does not qualify as a “federally related mortgage loan” under RESPA.(Q) “Successor In Intorest of Borrower” means any party that has taken title to the Property, whether or not that partyhas assumed Borrower's obligations under the Note and/or this Security Instrument.TRANSFER OF RIGHTS IN THE PROPERTYThis Security Instrument secures to Lender: ()) the repaymentof the Loan, and all renewals, extensions and modificationsof the Note; and (ji) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nomineefor Lender andLender's successors and assigns) and to the successors and assigns of MERS, the following described property locatedin the CouNTY [Type of Recording Jurisdiction] of Orange[Name of Recording Jurisdiction}:LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOFTax ID #: 35-2228 2835 00 275which currently has the address of 7530 REDWOOD COUNTY ROAD, Orlando, [Steet] [City] Florida 32835 (‘Property Address”): {Zip Code} TOGETHER WITH all the improvements now or hereafter erected on the property, and all easem*nts, appurte- nances, 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.” Borrower understands and agrees that MERS holds only legal titie to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nomineefor Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sg! the Property; and to take any action required of Lender including, but not limited to, releasing and canceling Instrument. FLORIDA-Single Family—Fannio Mae/Froddio Mac UNIFORM INSTRUMENT — Form 3010 1/01 Initials: © 1899-2004 Onfine Documents, Inc. Page 2 of 9 04-03-2006 16:03 Book8601/Page858 CFN#20060262691 Page 2 of 12V1 WBCD LOAB # 501020565 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right tomortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. warrants and will defend generally the tile to the Property against all claims and demands, subject to anyencumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants withlimited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Paymentof Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall paywhen due the principalof, and intereston, the debt evidenced by the Note and any prepayment charges andlate chargesdue under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under theNote and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument receivedby Lenderas payment under the Note or this Security Instrumentis retumed to Lender unpaid, Lender may require thatany or all subsequent payments due under the Note and this Security instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank 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. Payments are deemed received by Lender when received at the location designated in the Note or at such otherlocation as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may retum anypayment or partial payment if the payment or partial payments are insufficientto bring the Loan current. Lender mayaccept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder orprejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply suchpayments at the time such payments are accepted. if each Periodic Payment is applied as of its scheduled due date,then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes:paymentto bring the Loan current. f Borrower does not do so within a reasonable period of time, Lender shall eitherapply such funds or return themto Borrower. lfnot applied earlier, such funds will be applied to the outstanding principalbalance under the Note immediately prior to foreciosure. No offset or claim which Borrower might have now or in thefuture against Lender shall relieve Borrower from making payments due under the Note and this Security instrumentor performing the covenants and agreements secured by this Security Instrument. 2. Application of Paymentsor Proceeds. Exceptas otherwise described in this Section 2, all payments acceptedand applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principaldue under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in theorder in which it became due. Any remaining amounts shall be applied firstto late charges, second to any other amountsdue under this Security Instrument, and then to reduce the principal balance of the Note. tf Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amountto pay any late charge due, the payment may be applied to the delinquent payment and the late charge. It more thanone Periodic Paymentis outstanding, Lender may apply any payment received from Borrowerto the repayment of thePeriodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists afterthe payment is applied to the full paymentof one or more Periodic Payments, such excess may be applied to any latecharges due. Votuntary 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 shallnot extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall payto Lenderon the day Periodic Payments are due under the Note,until the Note is paid in full, a sum (the “Funds’) to provide for payment of amounts due for: (a) taxes and assessmentsand 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, if any: (c) premiums for any and all insurance required by Lenderunder Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu ofthe payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called“Escrow Items.” Atorigination or at any time during the term of the Loan, Lender may require that Community Association‘Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be anEscrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrowershall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any orall Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. when and where payable,‘Any such waiver may only be in writing, In the event of such waiver, Borrower shall pay directly, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall fumish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase “covenant and agreement” is used in Section 9. If to a waiver, and Borrower fails to pay the amount due for Borrower is obligated to pay Escrow Items directly, pursuant an Escrow ttem, 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 Items at any time 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 (a) sufficient to permit Lenderto apply the Funds at the time specified under RESPA, and (b) notto exceed the maximum amounta lender can require under ‘RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditys Escrow Items or otherwise in accordance with Applicable Law.FLORIDA-Single Femily-Fannle Mao/Freddie Mac UNIFORM INSTRUMENT — Form 3010 1/01 Initials: ‘© 1999-2004 Online Documents, Inc. Page 3 of 9 04-03-2006 16:03 Book8601/Page859_ CFN#20060262691 Page 3 of 12V1 WBCD LOAN # 501020565 The Funds shail be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity{including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lendershall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrowerfor 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 permits Lender to make such a charge. Unlessan agreementis madein writing or Applicable Law requires interestto be paid on the Funds, Lender shall notbe requiredto pay Borrower any interest or earings on the Funds. Borrower and Lender can agree in writing, however, that interestshall be paid on the Funds. Lender shall giveto Borrower, without charge, an annual accounting of the Funds as requiredby RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the‘excess funds in accordance with RESPA. if there is a shortageof Funds held in escrow, as defined under RESPA, Lendershall notify Borrower as required by RESPA, and Borrower shall payto Lender the amount necessary to make up theshortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds heldjin escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay toLender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthlypayments. Upon payment in full of all sums secured by this Security Instrument, Lender shalll promptly refund to Borrower anyFunds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to theProperty which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property,itany, and Community Association Dues, Fees, and Assessments, ifany. To the extent thatthese items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security 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 solong as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the fien in, tegal 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; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any partof the Property is subjectto a lien which can attain priority over this Security Instrument, Lender may give Borrower anotice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take‘one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge fora real estate tax verification and/or reporting service usedby Lender in connection with this Loan. 6. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Propertyinsured against loss by fire, hazards included within the term “extended coverage,” and any other hazards including,but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained inthe amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuanttothe preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shallbe chosen by Borrower subject to Lender’s rightto disapprove Borrower's choice, which right shall not be exercisedunreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for floodzone determination, certification and tracking services; or (b) a one-time charge for flood zone determination andcertification services and subsequent charges each time remappings or similar changes occur which reasonably mightaffect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed bythe Federal Emergency Management Agency in connection with the review of any flood zone determination resultingfrom an objection by Borrower. Hf Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, atLender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount ofcoverage. Therefore, such coverage shail cover Lender, but might or might not protect Borrower, Borrower's equity inthe Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursem*nt and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. Alll insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right 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 ofinsurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the 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 ‘notlessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Propertyto ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or i a series of progress payments as the work is completed. Unless an agreement is made in writing or Ap} FLORIDA-Single Famiy-Fannle Mao/Froddie Mac UNIFORM INSTRUMENT — Form 3010 1/01 Initials:‘© 1999-2004 Onfine Documents, Inc. Page 40f9 04-03-2006 16:03 Book8601/Page860 CFN#20060262691 Page 4 of 12V1 WECD LoaN # 501020565 requires interestto be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eamings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid outof the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasibleor Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by thisSecurity Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shallbe 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 relatedmatters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered tosettle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given.In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender(a) Borrower's rights to any insurance proceeds in an amount nat to exceed the amounts unpaid under the Note or this‘Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of uneamed premiumspaid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to thecoverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to payamounts unpaid under the Note or this Security instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within60 days after the execution of this Security Instrumentand shall continue to occupy the Property as Borrower's principalresidence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent‘shall not be unreasonably withheld, or unless extenuating circ*mstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or notBorrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property fromdeteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair orrestoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid furtherdeterioration or damage. if insuranceor condemnation proceeds are paid in connection with damage to, or the takingof, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has releasedproceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or ina series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficientto repairor restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair orrestoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If ithas reasonable cause,Lender may inspect the interiorof the improvements on the Property. Lender shalll give Borrower notice at the time ofor priorto such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrowercor any persons oF entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materiallyfalse, misleading, or inaccurate 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 concemingBorrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest In the Property and Rights Under this Securtty Instrument. If (a) Borrowerfails to perform the covenants and agreements contained in this Security Instrument, (b) theres a legal proceeding thatmight significantly affect Lender's interest in the Property andor rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lendercover this Security Instrument may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights underthis Security instrument, including protecting and/or assessing the value of the Property, and securing and/or repairingthe Property. Lender's actions can include, butare notlimited to: (a) paying any sums secured by alien which has prioritycover this Security Instrument; (b) appearing in court; and (c) paying reasonable attomeys' fees to protectit* interest inthe Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding.Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace orboard up doors and windows, drain water from pipes, eliminate building or other code violations or dangerousconditions, and have utilities tumed on or off. Although Lender may take action under this Section 9, Lender does nothave to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not takingany or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by thisSecurity instrument. These amounts shall bear interest at the Note rate from the date of disbursem*nt and shall bepayable, with such interest, upon notice from Lenderto Borrower requesting payment. Ifthis Security Instrumentis ona leasehold, Borrower shall comply with all the provisions of the lease. Borrower: ‘shall not surrender the leasehold estate and interests herein conveyed or terminateor cancel the ground lease. Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acquires fee title to the Property, the leasehold and the fee tite shall not merge unless Lender agrees to the merger inLoan, writing. 10. Mortgage Insuran ce. Mortgage Insurance as a condition of making the If Lenderrequired Borrower shallpay the premiums required to maintain the Mortgage Insurance in effect. f, for any reason, the Mortgage Insurance coverage required by Lender ceases 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 obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, trom an altemiate mortgageinsurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not: ‘available, Borrower shall of the separately designated payments that were due when the insurance covera¢ ed to payto Lender the amount FLORIDA-Single Family-Fannle Mae/Freddio Mac UNIFORM INSTRUMENT — Form 3010 1/01 Initials: x ‘© 1999-2004 Online Documents, Inc. Page 5 of 9 ED 402 04-03-2006 16103 Book8601/Page861 CFN#20060262691 Page 5 of 12Vl WBCD LOAN # 501020565to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, andLender shall not be required to pay Borrower any interest or eamings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated paymentstoward 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, Borrowershall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, untitLender's requirement for Mortgage Insurance ends in accordance with anywritten agreement between Borrower and Lender providing for such termination or until termination is required by ApplicableLaw. Nothing in this Section 10 affects Borrower'sobligation to pay Interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter intoagreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satistactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurerto make payments using any source of funds that the mortgage insurer may have available (which may i lude funds obtained from Mortgage Insurance premiums). As aresult of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other: entity, orany affilate of any of the foregoing, may receive (directly or indirectly) amounts that derivefrom (or mightbe characterizedas) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer'stisk, ar reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's riskin exchangefor a share of the premiums paid to the insurer, the arrangementis often termed “captive reinsurance.” Further. (a) Any such agreoments will not affect the amounts that Borrowor has agreed to pay for MortgageInsurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrowerto any refund. (®) Any such agreements will not affect the rights Borrower has - If any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the righttorecolve certaln disclosures, to request and obtan cancellation ofthe Mortgage Insurance, to have the MortgageInsurance terminated automatically, and/orto recelve a refund of any Mortgage Insurance premiums that wereuneared at the time of such cancellation or termination. 11. Assignmentof Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assignedto andshall be paid to Lender. Ifthe Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, ifthe restorationor repairis economically feasible and Lender's securityisnot lessened. During such repair and restoration period,Lender shallhave the rightto hold such Miscellaneous Proceeds until Lender has had an opportunity toinspect such Propertyto ensure the work has been completed to Lender's satisfaction, provided thatsuch inspection shall be undertaken promptly.Lender may pay for the repairs and restoration in a single disbursem*nt 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 MiscellaneousProceeds, Lender shall not be required to pay Borrower any interest or eamings on such Miscellaneous Proceeds. If therestoration or repairis not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shallbe appliedto the sums secured by this Security Instrument, whether or notthen due, with the excess, if any, paid to Borrower.‘Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. Inthe eventof a otal taking, destruction, orloss in value of the Property, the Miscellan eous Proceeds shallbe appliedto the sums secured by this Security instrument, whether or not then due, with the excess, if any, paid to Borrower, Inthe event ofa partial taking, destruction, or loss in value of the Property in which the fair market value ofthe Propertyimmediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sumssecured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrowerand Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount ofthe Miscellaneous Proceeds multiplied by the following fractior 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, destruction, or loss in value. Any balance shall be paid to Borrower. Inthe event ofa partial taking, destruction, or loss in value of the Property in which the fair market value of the Propertyimmediately before the partial taking, destruction, or toss in value is less than the amount of the sums securedimmediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree inwriting, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or notthe sums are then due. or if, after notice Ifthe Propertyis abandoned by Borrower that the Opposing Party (as defined , by Lender to Borrower in the next sentence) offers to make an award to settlea claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then dus. “Opposing Party” means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in defaultif any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could resutt in forfeiture of the Property or other material impairmentof Lender's interest in the Property or rights underin this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, forteiture of the Property or other material impairment of Lender's interest in the Property or rights under rity FLORIDA-Single Famiy-Fannie Mao/Froddio Mac UNIFORM INSTRUMENT — Form 3010 1/01 Initials: 4 © 1999-2004 Onine Documents, Inc. Page 6 of 9 D 0402 04-03-2006 16:03 Book8601/Page862 CFN#20060262691 Page 6 of 12V1 WBCD LOAN # 501020565Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interestin the 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 in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Nota Walver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lenderto Borrower or any Successor in Interestof Borrower shall not operate to release the Bability of Borrower or any Successors in Interest of Borrower. Lender shall notbe required to commence proceedings against any Successor n Interest of Borrower or to refuse to extend timefor paymentor otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by theoriginal Borrower or any Successors in interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest ofBorrower orin amounts less than the amount then due, shall notbe a waiver of or preclude the exercise of any rightorremedy. 13. Joint and Severa! Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agreesthat Borrower's obligations and liability shall be joint and ral. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a “co-signer”): ) is co-signing this Security Instrument onlyto mortgage, grantand convey the co-signer’s interest in the Property under the terms of this Security Instrument; (b) is notpersonallyobligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower canagree to extend, modify, forbear or make any accommodations with regard to the terms of this Security instrument orthe Note without the co-signer’s consent. ‘Subject to the provisions of Section 18, any Successorin Interest of Borrower who assumes Borrower's obligationsunder this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefitsunder this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument 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| in connection with Borrower's default, forthe purpose of protecting Lender's interestiin the Property and rights under this Security Instrument, including, butnotlimited to, attorneys’ fees, property inspection and valuation fees. in regard to any other fees, the absence of express authority inthis Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of suchfee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Ap} Law. Ifthe Loan is subject toa law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the chargeto the permitted limit; and (b) anysums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may chooseto make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. Ifarefundreduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or nota prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by directpayment to Borrower will constitute a 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 Security Instrument must be in writing. Anynotice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailedby first class mail or when actually delivered to Borrower's notice address if sentby other means. Notice to any one Borrowershall 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. tf 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 Security Instrumentatany onetime, Any noticeto Lendershall be given by delivering itor by mailingitby first class mailto Lender's address stated herein unless Lender has designated another address by notice to Borrower.Anynoticein connection with this Security Instrumentshallnotbe deemed to have been given to Lender untiactually receivedby Lender. if any notice required by this Security instrument is also required under Applicable Law, the Applicable Lawrequirement will satisfy the ding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction In which the Property is located. All rights and obligations contained in this Security Instrument and limitations are subject to any requirements of Applicable Law. Applica ble Law might explicitly or implicitlyallow the parties to agree bycontractorit mightbe silent, butsuch silence shall notbe construed as a prohibition againstagreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts withApplicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be giveneffect without the conflicting provision. Asused in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuterwords or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (©) 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 Benoficlal Interest In Borrower. As used in this Section 18, “Interest in the Property” means any legal or beneficial interest in the Property, i luding, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. {fall or any part of the Property or any interest in the Property is sold or transferred {or it Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may fequire immediate payment in full of all sums secured by this Security Instrument. However, this option sI ‘exercised by Lender if such exercise is prohibited by Applicable Law. FLORIDA-Single Family-Fannle Mae/Freddie Mac UNIFORM INSTRUMENT Form 3010 1/01 Initials: © 199.2004 Ontine Documents, Inc. Pago 7 of 9 04-03-2006 16:03 Book8601/Page863_ CFN#20060262691 Page 7 of 12V1 WBCD LOAB # 501020565 tt Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a periodof not less than 30 days from the date the noticeis 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 to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19, Borrower's Right to Reinstate After Acceleration. if Borrower meets certain conditions, Borrower shall have theright to have enforcementof this Security Instrument discontinued at any time prior to the earfiest of: (a) five days before saleof the Property pursuant to any power of sale contained in this Security instrument; (b) such other period as Applicable Lawmight spectty for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. ‘Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument andthe Note asifno acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expensesincurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys’ fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interestin the Property and rights underthis Security Instrument; and (d) takes such actionas Lender may reasonably require to assure that Lender's interestin theProperty and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument,shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one‘or more of the following forms, as selected by Lender: (a) cash; (b) money order, (c) certified check, bank check, treasurer'scheck or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federalagency, instrume 

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