Filing # 196482875 E-Filed 04/18/2024 12:11:01 PM
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`WELLS FARGO BANK, NATIONAL
`ASSOCIATION AS TRUSTEE FOR SOUNDVIEW
`HOME LOAN TRUST 2007-OPT2, ASSET-
`BACKED CERTIFICATES, SERIES 2007-OPT2
`
`
`Plaintiff
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`vs.
`ROGER VELASQUEZ; VISTA ALEGRE
`TOWNHOMES VILLAS STAGE I
`CONDOMINIUM ASSOCIATION, INC.; VISTA
`ALEGRE TOWNHOMES VILLAS PROPERTY
`OWNERS ASSOCIATION, INC.; REGIONS BANK
`A/S/B/M TO UNION PLANTERS BANK,
`NATIONAL ASSOCIATION A/S/B/M TO
`REPUBLIC NATIONAL BANK OF MIAMI;
`WELLS FARGO BANK, NATIONAL
`ASSOCIATION A/S/B/M WELLS FARGO
`FINANCIAL BANK; 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.
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`
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`IN THE CIRCUIT COURT OF THE
`ELEVENTH JUDICIAL CIRCUIT, IN AND
`FOR MIAMI-DADE COUNTY, FLORIDA
`CASE NO.:
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`VERIFIED COMPLAINT FOR FORECLOSURE OF MORTGAGE
`AND CANCELLATION OF MORTGAGES
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`Plaintiff, WELLS FARGO BANK, NATIONAL ASSOCIATION AS TRUSTEE FOR
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`SOUNDVIEW HOME LOAN TRUST 2007-OPT2, ASSET-BACKED CERTIFICATES, SERIES 2007-
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`OPT2, sues the Defendants ROGER VELASQUEZ; VISTA ALEGRE TOWNHOMES VILLAS STAGE
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`I CONDOMINIUM ASSOCIATION, INC.; VISTA ALEGRE TOWNHOMES VILLAS PROPERTY
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`OWNERS ASSOCIATION, INC.; REGIONS BANK A/S/B/M TO UNION PLANTERS BANK,
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`NATIONAL ASSOCIATION A/S/B/M TO REPUBLIC NATIONAL BANK OF MIAMI; WELLS
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`FARGO BANK, NATIONAL ASSOCIATION A/S/B/M WELLS FARGO FINANCIAL BANK; ANY
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`AND ALL UNKNOWN PARTIES CLAIMING BY, THROUGH, UNDER AND AGAINST THE
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`NAMED INDIVIDUAL DEFENDANT(S) WHO ARE NOT KNOWN TO BE DEAD OR ALIVE,
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`PHH19548-24/wwt
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`WHETHER UNKNOWN PARTIES MAY CLAIM AN INTEREST AS SPOUSES, HEIRS, DEVISEES,
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`GRANTEES, OR OTHER CLAIMANTS; and alleges:
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`COUNT I- MORTGAGE FORECLOSURE
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`1.
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`This is an action to foreclose a mortgage on real property in MIAMI-DADE County,
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`Florida.
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`2.
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`3.
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`The Court has jurisdiction over the subject matter.
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`On or about April 30, 2007, Defendant, ROGER VELASQUEZ executed and delivered a
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`promissory note. A copy of the note is attached hereto as Exhibit “A”.
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`4.
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`On or about April 30, 2007, Defendant, ROGER VELASQUEZ executed and delivered a
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`mortgage securing payment of the note to METROPOLITAN HOME MORTGAGE, INC., A
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`CALIFORNIA CORPORATION. The mortgage was recorded on December 4, 2007, in Official Records
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`Book 26084, at Page 3576, of the Public Records of MIAMI-DADE County, Florida, and encumbered the
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`property described in the mortgage then owned by and in possession of the mortgagor, a copy of the
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`mortgage being attached hereto as Exhibit “B”.
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`5.
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`The Mortgage and the Note were modified pursuant to an unrecorded Loan Modification
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`Agreement with an effective date of March 1, 2012. A copy of the Loan Modification Agreement is
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`attached hereto as Exhibit “C”. Subsequently, payments were deferred pursuant to Notification of
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`Payment Deferral. Copies of the Notifications are attached hereto as Exhibit “D”.
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`6.
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`The mortgage of the Plaintiff is a lien superior in dignity to any prior or subsequent right,
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`title, claim, lien or interest arising out of mortgagor(s) or the mortgagor(s)' predecessor(s) in interest.
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`7.
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`Plaintiff is the holder of the original note secured by the mortgage and is entitled to
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`foreclose pursuant to Florida Statute 673.3011(1).
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`8.
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`PHH Mortgage Corporation (“PHH”) is the loan servicer for this particular loan. Plaintiff
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`has delegated PHH Mortgage Corporation the authority to service the loan on its behalf pursuant to a
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`(Limited) Power of Attorney, attached hereto as Exhibit “E”.
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`9.
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`Defendant(s) have defaulted under the note, mortgage and any alleged modifications
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`thereof, hereinafter referred to as “the Loan Documents”, by failing to pay the payment due as of October
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`1, 2023, and all subsequent payments.
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`10.
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`11.
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`Plaintiff declares the full amount payable under the Loan Documents to be due.
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`Defendant(s) owe Plaintiff $141,910.39, which includes a deferred principal balance in
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`the amount of $16,146.04, that is due and owing on principal on the Loan Documents, plus interest from
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`and after September 1, 2023, and title search expenses for ascertaining necessary parties to this action,
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`pursuant to the documents attached, except for those defendants who have been discharged in bankruptcy.
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`12.
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`In order to protect its security, the Plaintiff may have advanced and paid Ad Valorem
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`Taxes, premiums on insurance required by the mortgage and other necessary costs, or may be required to
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`make such advances during the pendency of this action. Any such sum so paid will be due and owing to
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`the Plaintiff.
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`13.
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`The property is now owned by Defendant, ROGER VELASQUEZ, and the record legal
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`title to said mortgaged property is now vested in Defendant, ROGER VELASQUEZ.
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`14.
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`All conditions precedent to the acceleration of this mortgage note and to foreclosure of
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`the mortgage have occurred.
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`15.
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`Plaintiff is obligated to pay Plaintiff’s attorneys a reasonable fee for their services.
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`Plaintiff is entitled to recover its attorneys’ fees pursuant to the express terms of the note and mortgage.
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`16.
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`Plaintiff alleges that the claims of the remaining Defendants are secondary, junior,
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`inferior and subject to the prior claim of Plaintiff.
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`17.
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`Defendant, VISTA ALEGRE TOWNHOMES VILLAS STAGE I CONDOMINIUM
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`ASSOCIATION, INC., may claim an interest in the subject property by virtue of unpaid assessments,
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`dues or any other possible interests. Said interest, if any, is subject and inferior to the lien of Plaintiff's
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`Mortgage.
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`18.
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`Defendant, VISTA ALEGRE TOWNHOMES VILLAS PROPERTY OWNERS
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`ASSOCIATION, INC., may claim an interest in the subject property by virtue of unpaid assessments,
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`dues or any other possible interests. Said interest, if any, is subject and inferior to the lien of Plaintiff's
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`Mortgage.
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`19.
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`Defendant, ANY AND ALL UNKNOWN PARTIES CLAIMING BY, THROUGH,
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`UNDER AND AGAINST THE NAMED INDIVIDUAL DEFENDANT(S) WHO ARE NOT KNOWN
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`TO BE DEAD OR ALIVE, WHETHER UNKNOWN PARTIES MAY CLAIM AN INTEREST AS
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`SPOUSES, HEIRS, DEVISEES, GRANTEES, OR OTHER CLAIMANTS are joined as defendants
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`herein. The claims of said defendants are subordinate, junior, and inferior to the interest of the Plaintiff.
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`WHEREFORE, Plaintiff demands judgment foreclosing the mortgage, for costs (and, when
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`applicable, for attorneys’ fees), and, if the proceeds of the sale are insufficient to pay plaintiff’s claim, a
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`deficiency judgment, that the Court ascertain the amount due to Plaintiff for principal and interest on the
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`Mortgage and Note and for late charges, abstracting, taxes, expenses and costs, including attorney's fees,
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`plus interest thereon; that if the sums due Plaintiff under the Mortgage and Note are not paid immediately,
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`the Court foreclose the Mortgage and the Clerk of the Court sell the Property securing the indebtedness to
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`satisfy the Plaintiff's mortgage lien in accordance with the provisions of Florida Statutes §45.031; that the
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`rights, title and interest of any Defendant, or any party claiming by, through, under or against any
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`Defendant named herein or hereinafter made a Defendant be forever barred and foreclosed; that the Court
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`appoint a receiver of the Property and of the rents, issues, income and profits thereof, or in the alternative,
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`order sequestration of rents, issues, income and profits pursuant to Florida Statutes §697.07 (2006); and
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`that the Court retain jurisdiction of this action to make any and all further orders and judgments as may be
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`necessary and proper, including the issuance of a writ of possession and the entry of a deficiency
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`judgment decree, when and if such deficiency decree shall appear proper, if borrower(s) has not been
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`discharged in bankruptcy.
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`20.
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`21.
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`COUNT II- CANCELLATION OF PRIOR MORTGAGE
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`Plaintiff adopts and restates Paragraphs “1 through 19” from Count I of the Complaint.
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`Defendant, REGIONS BANK A/S/B/M TO UNION PLANTERS BANK, NATIONAL
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`ASSOCIATION A/S/B/M TO REPUBLIC NATIONAL BANK OF MIAMI may claim an interest in the
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`subject property by virtue of a Mortgage and Security Agreement dated September 26, 1995 and recorded
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`on September 27, 1995 in Official Records Book 16935, Page 832, by virtue of Uniform Commercial
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`Code Financing Statement recorded September 27, 1995, in Official Records Book 16935, Page 842, and
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`by virtue of Acknowledgment of Future Advance recorded October 16, 1996, in Official Records Book
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`17390, Page 1100, of the Public Records of MIAMI-DADE County, Florida (Regions Bank’s Mortgage).
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`22.
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`Plaintiff’s Mortgage as referenced in Count I of this Complaint was a refinance and upon
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`information and belief, First American Title Insurance Company, the title insurance company, required or
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`would have required collection of funds to satisfy Regions Bank’s Mortgage at the closing of Plaintiff’s
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`Mortgage before a title loan policy would be issued to insure Plaintiff’s Mortgage in first lien position.
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`23.
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`The Plaintiff is the successor in interest to the insured named in the First American Title
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`Insurance Company’s title loan policy, which did not take exception from coverage to Regions Bank’s
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`Mortgage. The usual custom and practice for a title insurance company would be to list an unsatisfied
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`loan as an exception to the title loan policy. A copy of the said First American Title Insurance
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`Company’s title loan policy is attached hereto as Exhibit “F”.
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`24.
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`A satisfaction of mortgage has not been recorded in the Public Records of MIAMI-
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`DADE County, Florida with respect to Regions Bank’s Mortgage.
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`25.
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`Plaintiff is entitled to a cancellation of the subject mortgage pursuant to Florida Statute
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`701 because either a satisfaction was issued for the Regions Bank’s Mortgage but was just never recorded
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`or funds were tendered to have satisfied the Regions Bank’s Mortgage but a satisfaction of mortgage was
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`never issued.
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`WHEREFORE, Plaintiff respectfully requests that an Order be entered that cancels the Regions
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`Bank’s Mortgage recorded in Official Records Book 16935, Page 832, the Uniform Commercial Code
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`Financing Statement recorded September 27, 1995, in Official Records Book 16935, Page 842 and the
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`Acknowledgment of Future Advance recorded October 16, 1996, in Official Records Book 17390, Page
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`1100, of the Public Records of MIAMI-DADE, Florida and all other relief that is just and proper.
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`COUNT III- CANCELLATION OF PRIOR MORTGAGE
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`26.
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`Plaintiff adopts and restates Paragraphs “1 through 25” from Counts I and II of the
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`Complaint.
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`27.
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`Defendant, WELLS FARGO BANK, NATIONAL ASSOCIATION A/S/B/M WELLS
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`FARGO FINANCIAL BANK, may claim an interest in the subject property by virtue of an Open-End
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`Real Estate Mortgage recorded June 8, 2006, in the Public Records of MIAMI-DADE County in Official
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`Records Book 24608, at Page 543 (Wells Fargo’s Mortgage).
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`28.
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`Plaintiff’s Mortgage as referenced in Count I of this Complaint was a refinance and upon
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`information and belief, First American Title Insurance Company, the title insurance company, required or
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`would have required collection of funds to satisfy Wells Fargo’s Mortgage at the closing of Plaintiff’s
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`Mortgage before a title loan policy would be issued to insure Plaintiff’s Mortgage in first lien position.
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`29.
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`The Plaintiff is the successor in interest to the insured named in the First American Title
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`Insurance Company’s title loan policy, which did not take exception from coverage to Wells Fargo’s
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`Mortgage. The usual custom and practice for a title insurance company would be to list an unsatisfied
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`loan as an exception to the title loan policy. A copy of the said First American Title Insurance
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`Company’s title loan policy is attached hereto as Exhibit “F”.
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`30.
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`A satisfaction of mortgage has not been recorded in the Public Records of MIAMI-
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`DADE County, Florida with respect to Wells Fargo’s Mortgage.
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`31.
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`Plaintiff is entitled to a cancellation of the subject mortgage pursuant to Florida Statute
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`701 because either a satisfaction was issued for the Wells Fargo’s Mortgage but was just never recorded or
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`funds were tendered to have satisfied the Wells Fargo’s Mortgage but a satisfaction of mortgage was never
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`issued.
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`WHEREFORE, Plaintiff respectfully requests that an Order be entered that cancels the Wells
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`Fargo’s Mortgage recorded in Official Records Book 24608, Page 543 of the Public Records of MIAMI-
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`DADE, Florida and all other relief that is just and proper.
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`VERIFICATION
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`Under penalty of perjury, I declare that I have read the foregoing, and the facts alleged therein
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`are true and correct to the best of my knowledge and belief.
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` 17TH April
`Executed on this _____ day of _________________________, 2024.
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`By:
`Printed Name:
`Title:
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`Company:
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`/s/. Jacqueline S. Michaelson
`Jacqueline S. Michaelson
`Contract Management Coordinator
`PHH MORTGAGE CORPORATION, as Attorney in
`Fact for WELLS FARGO BANK, NATIONAL
`ASSOCIATION AS TRUSTEE FOR SOUNDVIEW
`HOME LOAN TRUST 2007-OPT2, ASSET-
`BACKED CERTIFICATES, SERIES 2007-OPT2
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`RE:
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`Borrower:
`Address:
`File #:
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`ROGER VELASQUEZ
`15279 SOUTHWEST 134TH COURT APT 1201, MIAMI FLORIDA 33177
`PHH19548-24
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`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
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`18th April
`DATED this ___ day of __________________, 2024
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`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
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`By:
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`/s/ Patrick M. Connell, Esq.
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`(cid:134) Maya Rubinov, Esq.
`Bar Number: 99986
`(cid:134) Patrick M. Connell, Esq.
`X
`Bar Number: 36898
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`PHH19548-24/wwt
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`Co
`iT NAN
`c, EXHIBIT A >
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`ADJUSTABLE RATE NOTE
`LIBOR Index - Rate Caps
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`-
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`
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`THIS LOAN IS PAYABLE IN FULL AT MATURITY. YOU MUST REPAY THE ENTIRE
`PRINCIPAL BALANCE OF THE LOAN AND UNPAID INTEREST THEN DUE. THE
`LENDER IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TIME.
`YOU WILL, THEREFORE, BE REQUIRED TO MAKE PAYMENT OUT OF OTHER
`ASSETS THAT YOU MAY OWN,OR WILL HAVE TO FIND A LENDER, WHICH MAY
`BE THE LENDER YOU HAVE THIS LOAN WITH, WILLING TO LEND YOU THE
`MONEY. IF YOU REFINANCE THIS LOAN AT MATURITY, YOU MAY HAVE TO PAY
`SOME OR ALL OF THE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW
`LOAN EVEN IF YOU OBTAIN REFINANCING FROM THE SAME LENDER.
`
`THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST
`RATE AND MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY
`INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I
`MUSTPAY.
`
`APRIL 30, 2007
`{Date}
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`IRVINE
`(City
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`CALIFORNIA
`[State]
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`;
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`15279 SOUTHWEST 134TH COURT, MIAMI, FLORIDA 33177
`[Property Address]
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`1.
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`BORROWER'S PROMISE TO PAY
`(this amountis
`In return for a loan that I have received, I promise to pay U.S.$ 211,500.00
`called "Principal"), plus interest, to the order of the Lender. The Lender is METROPOLITAN HOME
`‘MORTGAGE,
`INC., A CALIFORNIA CORPORATION .
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`1 understand that the Lendermaytransfer this Note. The Lender oranyonewhothes thisNote by transfer
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`and whois entitled to receive payments under this Note is called the "Note Holder."
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`2.
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`INTEREST
`Interest will be
`Interest will be charged on unpaid principal until the full amount of Principal has been paid.
`calculated on the basis of a 12-month year and a 30-day month.
`1 will pay interest at a yearly rate of 7.370 %.
`The interest rate 1 will pay may change in accordance with Section 4 of this Note.
`Theinterest rate required by this Section 2 and Section 4 ofthis Noteis the rate I will pay both before and after
`any default described in Section 7(B) ofthis Note.
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`3.
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`** See attached Balloon Payment Addendum
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`PAYMENTS
`(A) Time and Place of Payments
`I will pay principal and interest by making a payment every month.
`JUNE 1.
`I will make my monthly payments on the Ist
`day af each month beginning on
`2007 °
`. Twill make these payments every month, in addition to a final Balloon Payment payable at
`Maturity as referenced in the attached Balloon Note Addendum, until I have paid all of the principal and interest and
`any other chargesdescribed below that I may owe under thts Note. My monthly payments will be applied to interest
`before Principal. If,on MAY 1, 2037 ~
`, Istill owe amounts under this Note, I will pay those
`amounts in full on that date, which is called the "Maturity Date."
`
`MULTISTATE ADJUSTABLE RATE BALLOON NOTE
`LIBOR INDEX -
`Famity
`OB/07/06
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`Page 1 of §
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`Docilagic CFeraap 900-549-1362
`winw.docmagic.com
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`* a
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`‘a,
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`I will make my monthly payments at
`CALIFORNIA 92614
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`4 PARK PLAZA SUITE 800,
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`IRVINE,
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`or at a different place if required by the Note Holder.
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`(®) Amountof My Initial Monthly Payments
`Each of myinitial monthly payments will be in the amount of U.S.$ 1,332.79
`amount may change.
`(C) Monthly Payment Changes
`Changes in my monthly paymentwill reflect changes in the unpaid principal of my loan andin the interest rate
`that I must pay. The Note Holder will determine my new interest rate and the changed amount of my monthly
`payment in accordance with Section 4 of this Note.
`(D) Application of Payments
`Payments received by the Note Holderwill be applied in the following order: (i) prepayment charges due under
`this Note; (ii) amounts payable under paragraph2 ofthe Security Instrument (defined below); (iii) interest due under
`this Note; (iv) principal due under this Note; and (v) late charges due under this Note.
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`. This
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`4.
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`INTEREST RATE AND MONTHLY PAYMENT CHANGES
`(A) Change Dates ** See attached Balloon Payment Addendum
`, and
`Theinterest rate I will pay may change onthe 1st
`dayof MAY, 2009
`on that day every sixth month thereafter. Each date on which myinterest rate could changeis 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 interbank offered rates for six month U.S. dollar-denominated deposits in the London market ("LIBOR"), as
`published in The Wall StreetJournal. The mostrecentIndex figure availableas ofthe first business day of the month
`immediately preceding the month in which the Change Date occursis called the “Current Index.”
`If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable
`information. The Note Holder will give me notice of this choice.
`(C) Calculation of Changes
`STIX AND
`Before each Change Date, the Note Holder will calculate my new interest rate by adding
`000/1000
`percentage point(s) (
`6.000 %) to the Current Index. The Note
`Holder will then round the result of this addition to the next higher one-eighth of one percentage point (0.125%).
`Subjectto the limits stated in Section 4(D) below, this rounded amountwill be my new interest rate until the next
`Change Date.
`The Note Holder will then determine the amount of the monthly paymentthat would be sufficient to repay the
`unpaid principal that J am expected to owe at the Change Date in full on the Maturity Date at my new interestrate
`in substantially equal payments. The result of this calculation will be the new amount of my monthly payment.
`(D) Limits on Interest Rate Changes
`8.870 %or
`Theinterest rate I am required to pay atthe first Change Date will not be greater than
`less than
`6.000%. Thereafter, my interest rate will never be increased or decreased on any single Change
`Date by more than ONE AND 500/1000
`percentage point(s) (
`1.500 %)
`from therate ofinterest ] have been paying for the preceding six months. In no event will my interestrate be greater
`than
`13.370 %orless than
`6.000 %.
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`(E) Effective Date of Changes
`Mynew interestrate will becomeeffective on each Change Date. J will pay the amount of my new monthly
`paymentbeginning onthe first monthly paymentdate after the Change Date until the amount of my monthly payment
`changesagain.
`(F) Notice of Changes
`The Note Holder will deliver or mail to me a notice of any changesin myinterest rate and the amount of my
`monthly paymentbeforethe effective date of any change. The notice will include information required by law to be
`given me andalsothetitle and telephone numberofa person whowill answer any question J may have regarding the
`notice.
`
`
`MULTISTATE ADJUSTABLE RATE BALLOON NOTE
`DocMagic
`800-649-1362
`LIBOR INDEX- Single Family
`www. docmagic.com
`08/07/06
`
`Page 2 of 5
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`5.
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`—/
`a
`_
`me
`YY
`a
`** See attached Prepayment Note Addendum.
`~BORROWER'S RIGHT TO PREPAY
`Ihavethe right to make payments of Principal at any time before they aredue. A paymentof Principal only
`is known as a "Prepayment." When I make a Prepayment,I will tell the Note Holder in writing that I am doing so.
`1 may not designate a payment as a Prepaymentif I have not made all the monthly payments due under this Note.
`I may makeafull Prepaymentorpartial Prepayments without paying any Prepayment charge. The Note Holder
`will use my Prepaymentsto reduce the amount of Principal that I owe under this Note. However, the Note Holder
`may apply my Prepayment to the accrued and unpaid interest on the Prepayment. amount before applying my
`Prepayment to reduce the Principal amount of this Note.
`If I make a partial Prepayment, there will be no changes
`in the due dates of my monthly payments unless the Note Holder agrees in writing to those changes. Mypartial
`Prepayment may reduce the amount of my monthly payments after the first Change Date following my partial
`Prepayment. However, any reduction due to my partial Prepayment may be offset by an interest rate increase.
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`6.
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`LOAN CHARGES
`If a law, which applies to this loan and which sets maximum loancharges, is finally interpreted so that the
`interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits,
`then: (i) any such loan chargeshall be reduced by the amount necessary to reduce the charge to the permitted limit;
`and (ii) any swms already collected from me which exceeded permitted limits will be refunded to me. The Note
`Holder may choose to make this refund by reducing the principal I owe underthis Note or by making a direct payment
`to me. If a refund reduces principal, the reduction will be treated as a partial prepayment.
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`.
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`7.
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`BORROWER'S FAILURE TO PAY AS REQUIRED
`(A) Late Charges for Overdue Payments
`15
`If the Note Holder has not received the full amount of any monthly payment by the end of
`calendar daysafter the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be
`5-000 % of my overdue paymentof principal and interest. 1 will pay this late charge promptly but only
`once on each late payment.
`(B) Default
`If I do not pay the full amount of each monthly paymenton the date it is due, I will be in default. If] am in
`default, the Note Holder may require me to pay immediately the full amount of principal which has not been paid and
`all interest that I owe on that amount, together with any other charges that 1 owe under this Note or the Security
`Instrument , except as otherwise required by applicable law.
`(C) No Waiver By Note Holder
`Evenif, at a time when I am in default, the Note Holder does not require me to pay immediately in full as
`described above, the Note Holder will still have the right to do so if I am in default at a later time.
`(D) Payment of Note Holder's Costs and Expenses
`If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have
`the right to be paid back by meforall of its costs and expenses in enforcing this Noteto the extent not prohibited by
`applicable law, whether or not a lawsuit is filed. Those expenses include, for example, reasonable attorneys’ fees.
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`8.
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`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 meat the Property Address aboveorat a different address
`if I give the Note Holder a notice of my different address.
`Any notice that mustbe given to the Note Holder underthis Note will be given by mailingit by first class mail
`to the Note Holder at the address stated in Section 3(A) above orat a different address if I am given a notice of that
`different address.
`:
`.
`
`MULTISTATE ADJUSTABLE RATE BALLOON NOTE
`LIBOR.INDEX - Single Family
`08/07/06
`
`Page 3 of 5
`
`DocMagic
`
`800-649-1362
`www. docmagic.com
`
`

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`OBLIGATIONS OF PERSONS UNDERTHIS NOTE
`If more than one person signs this Note, each person is fully and personally obligated to keep all of the
`promises madein this Note, including the promise to pay the full amount owed. Any person whois a guarantor,
`surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations,
`including the obligations of a guarantor, surety or endorserof this Note, is also obligated to keep all of the promises
`madein this Note. The Note Holder may enforceits rights under this Note against each personindividually or against
`all of us together. This means that any one of us may be required to payall of the amounts owed underthis Note.
`
`10. WAIVERS
`I and any other person who has obligations under this Note waive the rights of presentmentand noticeof
`dishonor. “Presentment” means the right to require the Note Holder to demand payment of amounts due. “Notice
`of Dishonor" means the right to require the Note Holderto give notice to other persons that amounts due havenot
`been paid.
`
`11. SECURED NOTE
`In addition to the protections given to the Note Holder under this Note, a Mortgage, Deedof Trustor Security
`Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses
`which might result if I do not keep the promises that I make in this Note. That Security Instrument describes how
`and under what conditions I may be required to make immediate paymentin full of all amounts I owe underthis Note.
`Someof those conditions are described as follows:
`
`Transfer of the Property or a Beneficial Interest in Borrower.If ail or any part of the Property
`or any interest in it is sold or transferred (or if a beneficial interest in Borroweris sold or transferred
`and Borroweris not a natural person) without Lender's prior written consent, Lender may, at its option,
`require immediate paymentin full of all sums secured by this Security Instrument. However, this option
`shall not be exercised by Lenderif such exercise is prohibited by federal law as of the date of this
`Security Instrument. Lenderalso shall not exercise this option if: (a) Borrower causes to be submitted
`to Lenderinformation required by Lenderto evaluate the intended transfereeas if a new loan were being
`madeto 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 covenant or agreement in 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. Lender may also require the transferee to sign an assumption
`agreementthat is acceptable to Lender andthat obligates the transferee to keep all the promises and
`agreements madein the Note andin this Security Instrument. Borrower will continue to be obligated
`under the Note and this Security Instrument unless Lender releases Borrowerin writing.
`If Lenderexercises the option.to require immediate payment in full, Lender shall give Borrower
`notice ofacceleration. 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 Borrowerfails to pay these sums prior to the expiration of this period, Lender may invoke any
`remedies permitted by this Security Instrumentwithout further notice or demand on Borrower.
`
`
`MULTISTATE ADJUSTABLE RATE BALLOON NOTE
`DocMagic CFormms 800-649-1362
`LIBOR INDEX - Single Family
`‘
`www. docmagic.com
`08/07/06
`
`Page 4 of 5
`
`,
`
`

`

`WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
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`(Seal)
`-Borrower
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`-Borrower
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`(Seal)
`-Borrower
`
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`(Seal) CSc}
`~Borrower
`-Borrower
`
`[Sign Original Only]
`
`
`DocMagic
`800-649-1362
`' MULTISTATE ADJUSTABLE RATE BALLOON NOTE
`www.docmagic.com
`LIBOR INDEX - Single Family
`08/07/06
`
`Page 5 of 5
`
`

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`ALLONGE TO NOTE _)
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`Borrower Name:
`
`ROGER VELASQUEZ
`
`Property Address:
`
`15279 SOUTHWEST 134TH COURT, MIAMI, PLORIDA 33177
`
`Note Date: APRIL 30, 2007
`
`Loan Amount: $211,500.00
`
`PAY TO THE ORDER OF OPTION ONE MORTGAGE CORPORATION, A CALIFORNIA
`CORPORATION,
`3 ADA,
`IRVINE, CA 92618
`
`WITHOUT RECOURSE ON
`
`APRIL 30, 2007
`
`LITAN HOME MORTGAGE,
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`METR!
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`By:
`CaHeas re be?
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`INC., A CALIFORNIA CORPORATION
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`ALLONGE TO NOTE
`Documem Sysamms, Ipc. (800) 649-1342
`
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`Date: 01/01/00
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`», Loans Number:
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`ALLONGE TO NOTE
`(INVESTOR)
`
`This allonge makes reference to the following Note:
`
`Borrowers: ROGER VELASQUEZ
`
`Loan #: az
`SOUTHWEST. 134TH COURT, MIAMI, FL 33177-1181
`Property Address: 15279
`Loan Amount: $211,500.00
`
`Note Date: 01/01/00
`
`Therefore, in reference to the captioned note, the following applies:
`
`Pay to the order of:
`
`Without Recourse
`
`Option One Mortgage Corporation
`A California Corporation
`
`
`
`Page 1 of 1
`
`USD3050.wp (03-29-07)
`
`

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`BALLOON NOTE ADDENDUM
`
`Servicing Number:
`
`Date: APRIL 30, 2007
`
`This is a BALLOON LOAN.Theterm of the loan is 50/30 years. This means that while your monthly
`payment amount is amortized in accordance with a 50 year loan term, the loan is payable in full in THIRTY
`(30) years from the date the loan is made. As a result, you will be required to repay the entire remaining
`principal balance, together with accrued interest, late charges, if any, and all advancements made by the
`lender under the terms of this loan in THIRTY (30) years from the date on which the loan is made.
`Thelender has noobligation to refinance this loan at the end of its term. Therefore, you may be
`required io repay the loan out of other assets yor may own, or you may have to find another lender willing
`to refinance the loan.
`:
`Assuming this lender or another lender refinances this loan at maturity, you will probably be charged
`interest at market rates prevailing at that time which may be considerably higher or lower than the interest
`rate paid on this loan. You may also have to pay someorall of the closing costs normally associated with
`the new mortgage loan even if you obtain refinancing from the same lender.
`
`
`
`(Seal)
`~Borrower
`
`——————<———______—______. Seal)
`-Borrower
`
`(Seal)
`-Borrower
`
`
`
`(Seal)
`-Borrower
`
`(Seal) Se (Sea)
`-Borrower
`-Borrower
`
`MULTISTATE 50/30 BALLOON NOTE ADDENDUM
`01/04/07
`.
`
`Dochlagic €Pormag 00669-1302
`doemagic.
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