Filing # 195793422 E-Filed 04/09/2024 01:12:29 PM
`
`
`
`
`
`
`
`
`DEUTSCHE BANK NATIONAL TRUST
`COMPANY AS TRUSTEE FOR INDYMAC INDX
`MORTGAGE LOAN TRUST 2006-AR12,
`MORTGAGE PASS-THROUGH CERTIFICATES
`SERIES 2006-AR12
`
`
`Plaintiff
`
`vs.
`ENRIQUE FERNANDEZ A/K/A ENRIQUE
`FERNANADEZ; AKOYA CONDOMINIUM
`ASSOCIATION, INC.; ANY AND ALL
`UNKNOWN PARTIES CLAIMING BY,
`THROUGH, UNDER AND AGAINST THE
`NAMED INDIVIDUAL DEFENDANT(S) WHO
`ARE NOT KNOWN TO BE DEAD OR ALIVE,
`WHETHER UNKNOWN PARTIES MAY CLAIM
`AN INTEREST AS SPOUSES, HEIRS, DEVISEES,
`GRANTEES, OR OTHER CLAIMANTS;
`Defendants.
`
`
`
`IN THE CIRCUIT COURT OF THE
`ELEVENTH JUDICIAL CIRCUIT, IN AND
`FOR MIAMI-DADE COUNTY, FLORIDA
`CASE NO.:
`
`
`
`
`VERIFIED COMPLAINT FOR FORECLOSURE OF MORTGAGE
`
`Plaintiff, DEUTSCHE BANK NATIONAL TRUST COMPANY AS TRUSTEE FOR
`
`INDYMAC INDX MORTGAGE LOAN TRUST 2006-AR12, MORTGAGE PASS-THROUGH
`
`CERTIFICATES SERIES 2006-AR12, sues the Defendants ENRIQUE FERNANDEZ A/K/A ENRIQUE
`
`FERNANADEZ; AKOYA CONDOMINIUM ASSOCIATION, INC.; ANY AND ALL UNKNOWN
`
`PARTIES CLAIMING BY, THROUGH, UNDER AND AGAINST THE NAMED INDIVIDUAL
`
`DEFENDANT(S) WHO ARE NOT KNOWN TO BE DEAD OR ALIVE, WHETHER UNKNOWN
`
`PARTIES MAY CLAIM AN INTEREST AS SPOUSES, HEIRS, DEVISEES, GRANTEES, OR
`
`OTHER CLAIMANTS; and alleges:
`
`
`MORTGAGE FORECLOSURE
`
`1.
`
`This is an action to foreclose a mortgage on real property in MIAMI-DADE County,
`
`Florida.
`
`
`
`

`

`
`
`2.
`
`3.
`
`The Court has jurisdiction over the subject matter.
`
`On or about December 15, 2005, Defendant, ENRIQUE FERNANDEZ A/K/A
`
`ENRIQUE FERNANADEZ executed and delivered a promissory note. A copy of the note is attached
`
`hereto as Exhibit “A”.
`
`4.
`
`On or about December 15, 2005, Defendant, ENRIQUE FERNANDEZ A/K/A
`
`ENRIQUE FERNANADEZ executed and delivered a mortgage securing payment of the note to
`
`EXPRESS CAPITAL LENDING, A CALIFORNIA CORPORATION. The mortgage was recorded on
`
`December 22, 2005, in Official Records Book 24078, at Page 0236, of the Public Records of MIAMI-
`
`DADE County, Florida, and encumbered the property described in the mortgage then owned by and in
`
`possession of the mortgagor, a copy of the mortgage being attached hereto as Exhibit “B”.
`
`5.
`
`The Mortgage and the Note were modified pursuant to an unrecorded Loan Modification
`
`Agreement with an effective date of September 1, 2014. A copy of the Loan Modification Agreement is
`
`attached hereto as Exhibit “C”. Subsequently, payments were deferred pursuant to Notification of
`
`Payment Deferral. Copies of the Notifications are attached hereto as Exhibit “D”.
`
`6.
`
`The mortgage of the Plaintiff is a lien superior in dignity to any prior or subsequent right,
`
`title, claim, lien or interest arising out of mortgagor(s) or the mortgagor(s)' predecessor(s) in interest.
`
`7.
`
`Plaintiff is the holder of the original note secured by the mortgage and is entitled to
`
`foreclose pursuant to Florida Statute 673.3011(1).
`
`8.
`
`PHH Mortgage Corporation (“PHH”) is the loan servicer for this particular loan. Plaintiff
`
`has delegated PHH Mortgage Corporation the authority to service the loan on its behalf pursuant to a
`
`(Limited) Power of Attorney, attached hereto as Exhibit “E”.
`
`9.
`
`Defendant(s) have defaulted under the note, mortgage and any alleged modifications
`
`thereof, hereinafter referred to as “the Loan Documents”, by failing to pay the payment due as of July 1,
`
`2023, and all subsequent payments.
`
`10.
`
`Plaintiff declares the full amount payable under the Loan Documents to be due.
`
`
`
`

`

`
`
`11.
`
`Defendant(s) owe Plaintiff $720,201.98, which includes a deferred principal balance in
`
`the amount of $72,112.36, that is due and owing on principal on the Loan Documents, plus interest from
`
`and after June 1, 2023, and title search expenses for ascertaining necessary parties to this action, pursuant
`
`to the documents attached, except for those defendants who have been discharged in bankruptcy. This
`
`amount does not include the possibility of an additional Shared Appreciation Amount due and owing, as
`
`contemplated within the aforementioned Modification Agreement.
`
`12.
`
`In order to protect its security, the Plaintiff may have advanced and paid Ad Valorem
`
`Taxes, premiums on insurance required by the mortgage and other necessary costs, or may be required to
`
`make such advances during the pendency of this action. Any such sum so paid will be due and owing to
`
`the Plaintiff.
`
`13.
`
`The property is now owned by Defendant, ENRIQUE FERNANDEZ A/K/A ENRIQUE
`
`FERNANADEZ, and the record legal title to said mortgaged property is now vested in Defendant,
`
`ENRIQUE FERNANDEZ A/K/A ENRIQUE FERNANADEZ.
`
`14.
`
`All conditions precedent to the acceleration of this mortgage note and to foreclosure of
`
`the mortgage have occurred.
`
`15.
`
`Plaintiff is obligated to pay Plaintiff’s attorneys a reasonable fee for their services.
`
`Plaintiff is entitled to recover its attorneys’ fees pursuant to the express terms of the note and mortgage.
`
`16.
`
`Plaintiff alleges that the claims of the remaining Defendants are secondary, junior,
`
`inferior and subject to the prior claim of Plaintiff.
`
`17.
`
`Defendant, AKOYA CONDOMINIUM ASSOCIATION, INC., may claim an interest in
`
`the subject property by virtue of unpaid assessments, dues or any other possible interests. Said interest, if
`
`any, is subject and inferior to the lien of Plaintiff's Mortgage.
`
`18.
`
`Defendant, ANY AND ALL UNKNOWN PARTIES CLAIMING BY, THROUGH,
`
`UNDER AND AGAINST THE NAMED INDIVIDUAL DEFENDANT(S) WHO ARE NOT KNOWN
`
`TO BE DEAD OR ALIVE, WHETHER UNKNOWN PARTIES MAY CLAIM AN INTEREST AS
`
`
`
`

`

`
`
`SPOUSES, HEIRS, DEVISEES, GRANTEES, OR OTHER CLAIMANTS are joined as defendants
`
`herein. The claims of said defendants are subordinate, junior, and inferior to the interest of the Plaintiff.
`
`
`
`
`
`
`
`

`

`
`
`WHEREFORE, Plaintiff demands judgment foreclosing the mortgage, for costs (and, when
`
`applicable, for attorneys’ fees), and, if the proceeds of the sale are insufficient to pay plaintiff’s claim, a
`
`deficiency judgment, that the Court ascertain the amount due to Plaintiff for principal and interest on the
`
`Mortgage and Note and for late charges, abstracting, taxes, expenses and costs, including attorney's fees,
`
`plus interest thereon; that if the sums due Plaintiff under the Mortgage and Note are not paid immediately,
`
`the Court foreclose the Mortgage and the Clerk of the Court sell the Property securing the indebtedness to
`
`satisfy the Plaintiff's mortgage lien in accordance with the provisions of Florida Statutes §45.031; that the
`
`rights, title and interest of any Defendant, or any party claiming by, through, under or against any
`
`Defendant named herein or hereinafter made a Defendant be forever barred and foreclosed; that the Court
`
`appoint a receiver of the Property and of the rents, issues, income and profits thereof, or in the alternative,
`
`order sequestration of rents, issues, income and profits pursuant to Florida Statutes §697.07 (2006); and
`
`that the Court retain jurisdiction of this action to make any and all further orders and judgments as may be
`
`necessary and proper, including the issuance of a writ of possession and the entry of a deficiency
`
`
`
`
`
`
`
`

`

`judgment decree, when and if such deficiency decree shall appear proper, if borrower(s) has not been
`
`discharged in bankruptcy.
`
`VERIFICATION
`
`Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein
`
`are true and correct to the best of my knowledge and belief.
` 8TH April
`Executed on this _____ day of _________________________, 2024.
`
`By:
`Printed Name:
`Title:
`
`Company:
`
`/s/. Jacqueline S. Michaelson
`Jacqueline S. Michaelson
`Contract Management Coordinator
`PHH MORTGAGE CORPORATION, as Attorney in
`Fact for DEUTSCHE BANK NATIONAL TRUST
`COMPANY AS TRUSTEE FOR INDYMAC INDX
`MORTGAGE LOAN TRUST 2006-AR12,
`MORTGAGE PASS-THROUGH CERTIFICATES
`SERIES 2006-AR12
`
`RE:
`
`Borrower:
`Address:
`File #:
`
`ENRIQUE FERNANDEZ A/K/A ENRIQUE FERNANADEZ
`6365 COLLINS AVENUE UNIT 4404, MIAMI BEACH FL 33141
`PHH19505-24
`
`Pursuant to the Fair Debt Collection Practices Act you are hereby advised that a portion of our
`practice involves the collections of debts and any information obtained may be used for that
`purpose
`
`DATED this ___ day of __________________, 2024
`9th April
`
`VAN NESS LAW FIRM, PLC
`1239 E. Newport Center Drive, Suite 110
`Deerfield Beach, Florida 33442
`Ph: (954) 571-2031
`PRIMARY EMAIL: pleadings@vanlawfl.com
`
`By:
`
`/s/ Patrick M. Connell, Esq.
`(cid:134) Maya Rubinov, Esq.
`Bar Number: 99986
`(cid:134) Patrick M. Connell, Esq.
` X
`Bar Number: 36898
`
`

`

`
`‘ainc.| Note/Mortgag €
`roe
`
`EXHIBIT "A" ° =poetics
`Pgage
`BO
`ADJUSTABLE RATE NOTE
`(MTA - Twelve Month Average Index - Payment Caps)
`
`,
`
`oe
`
` |
`
`THIS NOTE CONTAINS PROVISIONS THAT WILL CHANGE THE INTEREST RATE AND THE MONTHLY
`PAYMENT. THERE MAYBEA LIMIT ON THE AMOUNT THAT THE MONTHLY PAYMENTCAN INCREASE.
`“UNLESS YOU MAKE VOLUNTARY PREPAYMENTS,THERE MAYBE NEGATIVE AMORTIZATION DURING
`THE LIFE OF THE LOAN. AS SUCH, THE PRINCIPAL AMOUNT YOU WILL BE REQUIRED TO REPAY
`COULD BE GREATER THAN THE AMOUNT YOU ORIGINALLY BORROWED.THE INTEREST RATE CAN
`NEVER EXCEED THE LIMIT STATED IN THIS NOTE.
`.
`.
`_
`iy
`3
`cee
`DECEMBERcts, 2005 ©aan
`.
`%
`MIAMI,
`[pate] or
`[City]
`% 23 8
`a
`& ae
`. <
`a a %~ yr
`6365 COLLINS AVENUE UNIT 4404, MIAMI BEACH, FL 33141 MA
`are
`[Property Address]
`“
`
`FLORIDA
`[State] -
`
`ge Be
`
`
`
`1. BORROWER’S PROMISE TO PAY
`(this amountis called
`$620,000.00
`In Teturtitor'a loan that | have received, | promise to pay U.S.
`“Principal”), plus interest, to the order of Lender. The Principal amount may changeas providedin this Note, but will
`never exceed ONE HUNDRED TEN
`Percent (
`110.0002
`_) of the original Principal amount|
`borrowed. Thisis called the “MaximumLimit.” Lender is EXPRESS CAPITAL LENDING, A CALIFORNIA
`CORPORATION.
`
`| will makeall payments underthis Note in the form of cash, check or moneyorder.
`| understand that Lender maytransferthis Note. Lender or anyone whotakesthis Note by transfer and whois entitled
`to receive payments underthis Noteis called the “Note Holder.”
`
`2.
`
`INTEREST
`(A) Interest Rate
`Interestwill be charged on unpaid Principaluntil the full amountof Principal has been paid. | will initially pay interest _
`‘ata yearly rateof
`1.000%.
`Theinterest rate | will pay may change.
`Theinterest rate required by this Section 2 ofthis Noteis the rate | will pay both before andafter any default described
`in Section 7(B) of this Note.
`(B) Interest Rate Change Dates
`and onthat date every
`day of FEBRUARY, 2006
`1st
`Theinterest rate | will pay may change on the
`month thereafter. Each date on which myinterest rate could changeis called an “Interest Rate Change Date.” The new
`rate of interest will becomeeffective on eachInterest Rate Change Date. Theinterest rate may change monthly, but the
`monthly paymentwill be recalculated in accordance with Section 3.
`(C) Interest Rate Limit
`9.999%. Beginning with thefirst Interest Rate Change Date, my
`Myinterest rate will never be greater than
`interest rate will never be lower than the Margin (as defined in Section 2(E)).
`
`(D) The index
`Beginning with the first Interest Rate Change Date, myinterest rate will be. based on an Index. The “Index”is the
`“Twelve-Month Average”of the annualyields on actively traded United States Treasury Securities adjusted to a constant
`maturity of one year as published by the Federal Reserve Board inthe Federal ReserveStatistical Release entitled
`“Selected Interest Rates (H.15)”(the “Monthly Yields”). The Twelve Month Averageis determined by adding together
`the Monthly Yields for the most recently available twelve months and dividing by 12. The most recent Index figure
`available as of the date 15 days before each Interest Rate Change Dateis called the “Current Index”.
`If the Index is no longer available, the Note Holderwill choosea new index which will be based upon comparable
`information. The Note Holderwill give me notice of this choice.
`(E) Calculation of Interest Rate Changes
`FOUR.
`Before each Interest Rate Change Date, the Note Holderwill calculate my new interest rate by adding
`AND TWO-FIFTHS
`percentage point(s) (
`4.400% ) (“Margin”) to the Current index.
`The Note Holderwill then round the result of this addition to the nearest one-eighth of one percentage point (0.125%).
`This rounded amountwill be my newinterestrate until the next interest Rate Change Date.
`
`.
`3. PAYMENTS
`(A) Time and Place of Payments
`| will make a payment every month.
`day of each month beginning on
`1st
`| will make my monthly paymentson the
`FEBRUARY 1, 2006.
`/
`| will make these payments every month until | have paid all the Principal and
`interest and any other charges described below that | may owe underthis Note. Each manthly paymentwill be applied
`as ofits scheduled due date and will be applied to interest before Principai. If, on JANUARY 1, 2036,
`{ still owe amounts underthis Note,| will pay those amountsin full on that date, whichis called the “Maturity Date.”
`| will make my monthly payments at
`4000 WESTERLY PLACE 2NDFL
`NEWPORT BEACH, CA 92660
`or at a different placeif required by the Note Hoider.
`(B) Amountof MyInitial Monthly Payments
`Eachof myinitial monthly payments untilthefirst “Payment ChangeDate”(as defined in Section 3(C)) will be in the
`amountof U.S.
`$1,994.17
`unless adjusted under Section-3(F) of this Note.
`Initials:
`foc=
`Adjustable Rate Note (MTA Index - Payment and Rate Caps) Multistate Form 82 (07/05)
`,
`P60i3NOT 0507
`Online Documents,Inc.
`Page 1 of 4
`
`

`

`
`
`LU
`
`.
`
`‘
`
`oe om
`
`‘
`(C) Payment Change Dates
`dayof
`1st
`My monthly payment may change as required by Section 3()) below beginning on the
`FEBRUARY, 2007
`and on that date every 12th month- thereafter. Each of these dates is called a “Payment
`ChangeDate.” My monthly paymentalso will changeat anytime Section 3(F) or 3(G) below requires metopaya different
`monthly payment. The “Minimum Payment’is the minimum amountthe Note Holderwill accept formy monthly payment,
`which the Note Holderwill determine in accordance with Section 3(D) or as provided in Section 3(F) or 3(G) below.If
`the Minimum Paymentis not sufficient to cover the amountof interest due, then negative amortization will occur.
`(Negative amortization occurs when the mortgage paymentis smaller thanthe interest due, which causesthe Principal
`balanceto increase rather than decrease.)
`1 will pay the amount of my new monthly payment each month beginning on each Payment ChangeDate or as
`provided in Section 3(F) or 3(G) below.
`(D) Caiculation of Monthly Payment Changes
`Atleastthirty (30) days before each Payment ChangeDate, the Note Holderwill calculate the amountof the monthly
`paymentthat would besufficient to repay the unpaid Principal that | am expected to owe at the Payment Change Date
`in full on the Maturity Date in substantially equal installments at the interest rate in effect during the month preceding
`the Payment Change Date. Theresult of this calculation is called the “Full Payment.” Unless either Section 3(F) or 3(G)
`below applies, the amount of my new monthly paymenteffective on a Payment Change Datewill not increase bymore
`
`
`than 7.500%—of my prior Minimum Payment.This 7.500% limitation is called the “Payment Cap.” The
`Payment Cap applies only to the Principal and interest payment and does not apply to any escrow payments Note
`Holder may require underthe Security Instrument. The Note Holder will apply the Payment Cap by taking the amount
`of my Minimum Paymentdue the month preceding the Payment Change Date and multiplying it by the number1.075.
`The result of this calculation is called the “Limited Payment.” Unless either Section 3(F) or 3(G) below requires me to
`pay a different amount, my new Minimum Paymentwill be the lesserof the Limited Payment and the Full Payment. | also
`have the option to pay the Fuil Payment for my monthly payment.
`(E) Additions to My Unpaid Principal
`Since my payment amount changesless frequently than the interest rate, and since the monthly paymentis subject
`to the paymentlimitations described in Section 3(D), my monthly payment could belesseror greater than the amount
`of the interest portion of the monthly paymentthat would be sufficient to repay the unpaid Principal | owe at the monthly
`paymentdate in full on the Maturity Date in substantially equal payments. For each month that my monthly payment
`is less thanthe interest portion, the Note Holderwill subtract the monthly paymentfrom the amountof theinterest portion
`and will add the difference to my unpaid Principal, and interest will accrue on the amountofthis difference at the then
`currentinterest rate determined in accordance with Section 2. For each month that the monthly paymentis greater than
`the interest portion, the Note Holder will apply the payment as provided in Section 3(A).
`(F) Limit on My Unpaid Principal; Increased Monthly Payment
`:
`My unpaid Principal may never exceed a maximum amount equalto
`110.000% of the Principal amount I
`originally borrowed. My unpaid Principal balance could exceed the Maximum Limit(
`110.0003 of my original
`Principal amount) due to Minimum Payments and interest rate increases. In that event, on the date that my paying my
`monthly payment would cause me to exceedthatlimit,| will instead pay a new monthly paymentuntil the next Payment
`Change Date. This means that my monthly payment may change more frequently than annually and the payment
`changeswill not belimited by the
`7.500% Payment Cap. The new Minimum Paymentwill be in an amountthat
`would be sufficient to repay my then unpaid Principalin full on the Maturity Date in substantially equal installments at
`the interest rate effective during the preceding month.
`(G) Required Full Payment
`-
`Regardless of the Payment Caplimitation described in Section 3(D), on the fifth Payment Change Date and on each
`succeeding fifth Payment Change Datethereafter, | will begin paying the Full Payment as my Minimum Paymentuntil
`my monthly payment changes again. | also will begin paying the Full Payment as my Minimum Paymenton the final
`Payment Change Date.
`(H) Payment Options
`Afterthefirst Interest Rate Change Date, the Note Holder may provide me each month with up to four (4) payment
`Options, three of which may be greater than the Minimum Payment, and all of which are called “Payment Options.” The
`Payment Options thatmay be available are:
`.
`,
`
`(2—
`
`(1) Minimum Payment: This is the minimum amount Note Holderwill accept as my monthly payment. This
`amountwill be provided by Note Holderafter the First Interest Rate Change Date and monthly thereafter.
`The Principal balancewill not be decreased bythis Payment Option. Ifthe Minimum Paymentis notsufficient
`to cover the amountof interest due, then negative amortization will occur. (Negative amortization occurs
`when the mortgage paymentis smaller than the interest due and that causes the Principal balance to
`increaserather than decrease.)
`Interest Only Payment: This is the amount'that would pay only the interest on the Principal at the current
`interest rate. The Principal balance will not be decreased by this Payment Option.
`(8) Fully Amortized Payment: This is the amount necessary to pay both the Principal and interestin full at the
`Maturity Date in substantially equal payments. This Payment Option is calculated on the assumption that
`the currentinterestrate will remain in effect for the remaining term of this Note; however,the current interest
`rate mayin fact change every month.
`(4) 15 Year Amortized Payment:This is the amount necessary to pay both the Principal and interestin full within
`afifteen (15) yearterm from the first payment due date in substantially equal payments. This Payment Option
`is calculated on the assumption thatthe currentinterest rate will remain in effect for the remaining term of
`this Note; however, the current interest rate may in fact change every month.
`:
`
`{ may use the PaymentOptionsreflected in H. (2) through H.(4) onlyif they are greater than the Minimum Payment.
`If any of these Payment Optionsresults in a payment amountthat is less than the Minimum Payment, | muststill make
`the Minimum Payment.
`:
`()) Failure to Make Adjustments
`if for any reason the Note Holderfails to make an adjustmentto the interest rate or payment amountas. described
`in this Note, regardless of any notice requirement, | agree the Note Holder may, upon discovery of such failure, then
`make the adjustment asif they had been made ontime. | also agree not to hold the Note Holder responsible for any
`damages to me which mayresult from the Note Holder's failure to make the adjustment andto let the Note Holder, at
`its option, apply any excess monies which | may have paid to partial Prepayment of unpaid Principal.
`Initials:
`.
`
`Adjustable Rate Note (MTA Index - Payment and Rate Caps) Multistate Form 82 (07/05)
`Online Documents,Inc.
`Page 2 of 4
`
`P6013NOT 0507
`
`

`

`
`
`4, NOTICE OF CHANGES
`The Note Holderwill deliver or mail to me a notice of any changesin the amount of my monthly paymentbefore the
`effective date of any change. The notice will include information required by law to be given to me andalsothetitle and
`telephone numberof a person who will answer any question | may have regarding the notice.
`‘
`5. BORROWER’S RIGHT TO PREPAY
`| have the right to make payments ofPrincipal at any time before they are due. A paymentof Principal only is known
`as a “Prepayment.” When | make a Prepayment, I will tell the Note Holderin writing that | am doing so. | may not designate
`a payment as a Prepaymentif | have not madeall the monthly payments due underthis Note.
`| may makea full Prepaymentor partial Prepayments without paying any Prepayment charge. The Note Holderwill
`use my Prepayments to reduce the amountof Principal that | owe underthis Note. However, the Note Holder may apply
`my Prepaymentto any accrued and unpaidinterest before applying my Prepaymentto reduce the Principal amountof
`this Note.If! make a partial Prepayment, therewill be no changesin the due dates of my monthly payments unless the
`Note Holderagreesin writing to those changes. Mypartial Prepayment may reduce the amountof my monthly payments
`after the first Payment Change Date following my partial Prepayment. However, any reduction due to my partial
`Prepayment maybeoffset by aninterest rate increase.
`THIS SECTION IS SUPERSEDED BY THE
`ADDENDUM. ATTACHED HERETO AND MADE A PART HEREOF.
`:
`
`6. LOAN CHARGES
`lf a law, whichapplies to this loan and which sets maximum loan charges, is finally interpreted so that the interest
`or other loan chargescollected or to be collected in connection with this loan exceed the permitted limits, then: (a) any
`such loan charge shall be reduced by the amount necessary to reduce the chargeto the permittedlimit; and (b) any
`Sumsalready collected from me that exceeded permittedlimits will be refunded to me. The Note Holder may choose
`to makethis refund by reducing the Principal | owe underthis Note or by making a direct paymentto me.If a refund
`reducesPrincipal, the reduction will be treated as a partial Prepayment.
`:
`
`7. BORROWER’S FAILURE TO PAY AS REQUIRED
`(A) Late Charges for Overdue Payments
`calendar
`{f the Note Holder has not received the full amount of any monthly paymentby the end of
`5.0003
`daysafter the dateit is due,| will pay a late charge to the Note Holder. The amount of the charge willbe
`of my overdue paymentof Principal and interest. | will pay this late charge promptly but only once on eachlate
`payment.
`
`15
`
`(B) Default
`if | do not pay thefull amount of each monthly payment on the date it is due, | will be in default.
`/
`(C) Notice of Default
`If 1 am in default, the Note Holder may send mea written notice telling me thatif | do not pay the overdue amount
`by a certain date, the Note Holder may require me to pay immediately the full amountof Principal that has not been paid
`and ail the interest that | owe on that amount. That date mustbe at least 30 days after the date on which the notice is
`mailed to me or delivered by other means.
`.(D) No Waiver By Note Holder
`Evenif, at a time when | am in default, the Note Holder does not require me to pay immediatelyin full as described
`above, the Note Holderwill still have the right to do soif 1 am in default at a latertime.
`(E) Paymentof Note Hoider’s Costs and Expenses
`if the Note Hoider has required me to pay immediatelyin full as described above, the Note Holderwill have the right
`to be paid back by meforall of its costs and expenses in enforcing this Note to the extent not prohibited by applicable
`law. These expensesinclude, for example, reasonable attorneys’ fees:
`8. GIVING OF NOTICES
`Unless applicable law requires a different method, any notice that must be given to me underthis Note will be given
`by delivering it or by mailing it by first class mail to me at the Property Address aboveor atadifferent addressif | give
`the Note Holder a notice of my different address.
`:
`:
`Unless the Note Holderrequiresa different method, any notice that must be given to the Note Holder underthis Note
`will be given by mailing it by first class mail to the Note Holder atthe address stated in Section 3(A) aboveor ata different
`addressif! am given a notice of that different address.
`:
`
`9. OBLIGATIONS OF PERSONS UNDER THIS NOTE
`lf more than one personsignsthis Note, each personis fully and personally obligated to keepall the promises made
`in this Note, including the promiseto pay the full amount owed. Any person who is a guarantor, surety or endorserof
`this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations
`of a guarantor, surety or endorserofthis Note, is also obligated to keep all the promises madein this Note. The Note
`Holder may enforceits rights under this Note against each person individually or againstall of us together. This means
`that any one of us may be required to pay all the amounts owed underthis Note.
`~
`10. WAIVERS
`| and any other person who hasobligations underthis Note waive the rights of Presentment and Notice of Dishonor.
`“Presentment” meansthe right to require the Note Holder to demand paymentof amounts due. “Notice of Dishonor”
`meansthe right to require the Note Holderto give notice to other persons that amounts due have not been paid.
`
`.
`:
`11, UNIFORM SECURED NOTE
`This Note is a uniform instrumentwith limited variations in somejurisdictions. In addition to the protections given
`to the Note Holder underthis Note, a Mortgage, Deed of Trust, or Security Deed (the “Security Instrument”), dated the
`same date as this Note, protects the. Note Holder from possible losses that might result if | do not keep the promises
`that | makein this Note; That Security Instrument describes how and under what conditions |may be required to make
`immediate payment.in full of all amounts | owe underthis Note. Some of these conditions read as follows:
`
`Transfer of the Property or a Beneficial Interest in Borrower. As usedin this Section 18, “Interest in the
`fam
`Property” means anylegal or beneficial interest in the Property, including, but not limited to, those beneficial
`Initials:
`Adjustable Rate Note (MTA Index - Payment and Rate Caps) Multistate Form 82 (07/05)
`Online Documents,Inc,
`Page 3 of 4
`
`P6013NOT 0507
`
`

`

`
`
`_—
`
`com
`
`the
`
`:
`
`3
`
`ss,
`
`-
`
`interests transferred in a bond for deed, contract for deed, installmentsales contract or escrow agreement,
`intent of which is the transfer of title by Borrowerat a future date to a purchaser.
`;
`*
`fall or any part of the Property or anyInterestin the Property is sold ortransferred (orif Borroweris nota _
`natura! person and a beneficialinterest in Borroweris sold or transferred) without Lender's priorwritten consent,
`Lender may require immediate paymentin full of ali sums secured by this. Security Instrument. However, this
`option shall not be exercised by Lenderif such exercise is prohibited by Applicable Law. Lenderalso shall not
`exercisethis optionif: (a) Borrower causes to be submitted to Lenderinformation required by Lenderto 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 andthat the risk of a breach of
`any covenantor agreementin this Security Instrument is acceptable to Lender.
`To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender’s
`consentto the loan assumption..Lenderalso may require the transferee to sign an assumption agreementthat
`is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the
`Note andin this Security Instrument. Borrowerwill continue to be obligated under the Note and this Security
`Instrument unless Lender releases Borrowerin writing.
`\f Lender exercises the option to require immediate paymentin full, Lender shail give Borrowernotice of
`acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in
`accordancewith Section 15 within which Borrower must payall sums secured by this Security Instrument.If
`Borrowerfails to pay these sumspriorto the expiration of this period, Lender may invoke any remedies permitted
`by this Security Instrument without further notice or demand on Borrower.
`
`;
`12. APPLICABLE LAW
`This Note will be governed by federal law and, to the extent not preempted by federal law, by the law of the state
`in which the real property security is located.
`
`13. DOCUMENTARY TAX
`The state documentary tax due on this Note has been paid on the mortgage securing
`this indebtedness.
`.
`z
`
`WITNESS THE HAND(S) ANDSEALS OF THE UNDERSIGNED.
`THE PROVISIONS CONTAINED IN THE "ADDENDUM TO NOTE", SIGNED BY ALL BORROWERS NAMED
`HEREIN, ARE HEREBY INCORPORATED INTO AND SHALL AMEND AND SUPPLEMENT THIS NOTE.
`
`(Seal)
`
`“ayto The OrderO&
`IMPAC FUNDING CORPORATION
`‘Nithout Recourse
`“xpress Capital Lending
`
`
`aTRECOURSE
`WAC FUNDING C APCRATION
`DananBANKNATIONALTRUSTCOMPANYASATTORNEY
`Aimee Kernmetet
`AssistamiVice Prasident
`
`wat
`
` \.
`
`Janet Honakerit’s
`
`By:
`
`
`
`\Afthout Recourse
`
`Shen ee Yroge—
`ge
`Joanne V Drege ce Presidert
`
`
`
`
`
`Adjustable Rate Note (MTA Index - Payment and Rate Caps) Multistate Form 82 (07/05)
`:
`Online Documents, Ine.
`Page 4 of 4
`
`P60i3NOT 0507
`
`

`

`
`
`ADDENDUM TO NOTE
`
`DECEMBER 15, 2005
`This addendum is made
`supplementthe Note of the same date.
`_
`Covering the property described in the security instrument and located at: 6365 COLLINS AVENUE UNIT
`4404, MIAMI BEACH, FL 33141.
`
`andis incorporated into and deemed to amend and
`
`Amended Provisions.
`In addition to the provisions and agreements madein the Note, {/we further covenant and agree as follows:
`
`.
`Borrower's Right to Prepay:
`| have the right to make paymentsof principal at anytime before they are due. A paymentof principal only is known
`as “prepayment”. When | make a prepayment,| will tell the Note Holderin writing that | am doing so.
`Subject to the prepayment penalty specified below, | may makea full prepaymentor partial prepayments of my
`obligation. The Note Holderwill use all of my prepayments to reduce the amountofprincipal that | owe underthis Note.
`If | make a partial prepayment, there will be no changesin the due date or in the amount of my monthly paymentunless
`the Note Holder agreesin writing to those changes.
`) month(s) of
`36
`(|
`Hf l make prepayments of this loan during the first THIRTY SIx
`the Note term, beginning on the date this Note is executed, | will pay a prepaymentpenalty in the amountof six months’
`advanceinterest on the amount by which the aggregate prepayments made within any consecutive twelve month period
`exceed twenty percent (20%) of the original principal amount. No prepayment penalty will be assessed for any
`prepayment madeafter the first THIRTY SIX
`(
`36
`) month(s) of the Note term.
`The Note Holderwill waivethis penalty after the first TWELVE
`(
`12.
`) month(s)of
`the Note term, if | furnish the Note Holder with documentation, in the mannerand at the time reasonably specified by
`the Note Holder, identifying the prepayment as being in connection with the sale of the Property.
`The Note Holder’s failure to collect a prepayment penalty at the time a prepaymentis received shall not be deemed
`a waiver of such penalty and any such penalty calculated in accordancewith this section shall be payable on demand.
`All other terms and conditions of the above referenced Note remain in full force and effect,
`
` ENRIQUE
`
`FERNANDEZ
`
`Date
`
`Created 5/04 Combination Hard/Soft Prepay - CA PP Terms
`Online Documents,Inc.
`
`/ PO
`
`

`

`Hit
`EXHIBIT B
`
`VURUEUY TIME AQEVG THOT URE HUEY PRMUE UGE UU
`CEN 2ONSRAS2ZITS7EG
`OF Bk 24078 Fas W226 - 251% Clépys