FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`SUPREME
`COUNTY
`
`OF THE
`COURT
`OF SARATOGA
`__
`
`__.
`
`OF NEW YORK
`STATE
`____ _____
`
`__
`
`Wells
`
`Fargo
`
`Bank,
`
`N.A.,
`
`-against-
`
`Plaintiff,
`
`a/k/a
`
`Califano
`Emily
`of
`America
`Urban
`
`fictitious,
`and
`all
`
`any
`
`claiming
`
`Jane Califano;
`The United
`Emily
`The
`through
`of Housing
`acting
`Secretary
`"JOHN
`and
`said
`name
`Development,
`DOE",
`intention
`the
`of Plaintiff
`it being
`to
`designate
`premises
`of
`occupants
`foreclosed
`corporations
`if
`parties,
`or
`an interest
`
`or
`upon
`
`lien
`
`being
`entities,
`the mortgaged
`
`herein,
`
`any,
`
`having
`premises,
`
`AFFIRMATION
`ATTORNEY
`
`OF
`
`Index
`
`No.
`
`20157
`
`Premises:
`712
`
`Scotia,
`
`Swaggertown
`NY 12302
`
`Road
`
`ø
`
`N
`
`o
`
`States
`and
`
`being
`any
`and
`or
`
`Defendants.
`
`I, Bridget
`
`M. Dehmler,
`
`an attorney-at-law
`
`duly
`
`admitted
`
`to practice
`
`before
`
`the
`
`courts
`
`of
`
`the State
`
`of New York
`
`do hereby
`
`affirm
`
`pursuant
`
`to CPLR
`
`§2106
`
`that:
`
`1.
`
`I am an asseeiate
`
`of
`
`the
`
`law firm
`
`Shapiro,
`
`DiCaro
`
`& Barak,
`
`LLC,
`
`attorneys
`
`for
`
`the
`
`familiar
`
`the
`
`facts
`
`this
`
`Plaintiff
`
`in
`
`the
`
`above-entitled
`
`action,
`
`and
`
`I am fully
`
`with
`
`all
`
`underlying
`
`action.
`
`2.
`
`This
`
`action
`
`was
`
`brought
`
`to
`
`foreclose
`
`a Home
`
`Equity
`
`Conversion
`
`Mortgage
`
`(commonly
`
`known
`
`as a "reverse
`
`mortgage")
`
`held
`
`by
`
`the Plaintiff
`
`covering
`
`the
`
`premises
`
`located
`
`at
`
`712
`
`Swaggertown
`
`Road,
`
`Scotia,
`
`NY 12302
`
`in
`
`the
`
`County
`
`of SARATOGA,
`
`State
`
`of New
`
`which
`
`mortgage
`
`was
`
`recorded
`
`in
`
`the
`
`Saratoga
`
`County
`
`Clerk's
`
`Office
`
`on
`
`February
`
`22,
`
`in
`
`Instrument
`
`Number
`
`2007007401
`
`as more
`
`particularly
`
`referred
`
`to
`
`in
`
`the
`
`Comp'aiñt
`
`York,
`
`2007,
`
`herein.
`
`14-038653
`
`1 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`3.
`
`The
`
`Summons,
`
`Complaint
`
`and Notice
`
`of Peñdêñcy
`
`in
`
`this
`
`action
`
`were
`
`all
`
`duly
`
`filed
`
`in
`
`the SARATOGA
`
`County
`
`Clerk's
`
`Office
`
`on
`
`January
`
`5, 2015.
`
`The
`
`Complaint
`
`demands
`
`judgment
`
`against
`
`the
`
`Defendant
`
`and
`
`prays
`
`for
`
`the
`
`sale
`
`of
`
`the mortgaged
`
`property,
`
`and
`
`other
`
`relief,
`
`all
`
`as more
`
`fully
`
`set
`
`forth
`
`in the Complaint.
`
`Copies
`
`of
`
`the
`
`Summons
`
`and Complaint
`
`are
`
`annexed
`
`hereto
`
`as Exhibit
`
`"A".
`
`4.
`
`Defendant
`
`Califano
`
`was
`
`served
`
`with
`
`the
`
`and
`
`herein
`
`at
`
`Emily
`
`summons
`
`complaint
`
`the Wilkinson
`
`Residential
`
`Health
`
`Care
`
`Facility
`
`in Amsterdam,
`
`NY.
`
`As
`
`seen
`
`by
`
`the Affidavit
`
`Service
`
`of
`
`Joshua
`
`Long,
`
`sworn
`
`to on January
`
`21,
`
`2015,
`
`plaintiff's
`
`process
`
`server
`
`was
`
`advised
`
`of
`
`by
`
`Mike
`
`McCoy,
`
`the
`
`Admidstator
`
`of
`
`the Wilkinson
`
`Residential
`
`Health
`
`Care
`
`Facility,
`
`that
`
`the
`
`defendant
`
`Emily
`
`Califano
`
`a/k/a
`
`Emily
`
`Jane
`
`Califano
`
`has
`
`demmtia
`
`and
`
`is
`
`incapable
`
`of
`
`understanding
`
`these
`
`documents
`
`(the
`
`summons
`
`and
`
`complaint).
`
`The
`
`pleadings
`
`herein
`
`were
`
`also
`
`the
`
`of
`
`delivered
`
`to Mike
`
`McCoy,
`
`as
`
`Administrator
`
`the Wilkinson
`
`Residential
`
`Health
`
`Care
`
`Facility.
`
`Annexed
`
`hereto
`
`as Exhibit
`
`"B"
`
`please
`
`find
`
`a copy
`
`of
`
`those
`
`Affidavits
`
`of Service.
`
`Due
`
`to the
`
`defendant's
`
`health
`
`condition,
`
`as communicated
`
`to the
`
`plaintiff
`
`the Administator
`
`by
`
`of
`
`the
`
`Residential
`
`Health
`
`Care
`
`Facility,
`
`it
`
`appears
`
`that
`
`Emily
`
`Califano
`
`is
`
`not
`
`able
`
`to
`
`understand
`
`or
`
`appreciate
`
`the
`
`nature
`
`of
`
`this
`
`action
`
`and
`
`should
`
`be appointed
`
`a Guardian
`
`ad
`
`Litem
`
`in connection
`
`with
`
`this
`
`action
`
`to protect
`
`her
`
`interests.
`
`upon
`
`5.
`
`Subsequent
`
`to
`
`the
`
`filing
`
`of
`
`the
`
`summons
`
`and
`
`complaint
`
`and
`
`serving
`
`the
`
`Defendant
`
`with
`
`same,
`
`plaintiff
`
`s counsel,
`
`through
`
`its
`
`agent,
`
`came
`
`into
`
`possession
`
`of
`
`a copy
`
`of
`
`a
`
`Power
`
`of Attorney
`
`from
`
`Emily
`
`Califano
`
`to
`
`Linda
`
`Hastings.
`
`Annexed
`
`hereto
`
`as Exhibit
`
`"C"
`
`please
`
`find
`
`a copy
`
`of
`
`the Power
`
`of Attorney.
`
`6.
`
`That
`
`this matter
`
`should
`
`be referred
`
`to a suitable
`
`person,
`
`appointed
`
`by
`
`the Court
`
`to
`
`act as Guardian
`
`Ad Litem
`
`for Defendant
`
`Emily
`
`Califano
`
`a/k/a
`
`Emily
`
`Jane Califano,
`
`so that
`
`14-038653
`
`2 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`Plaintiff
`
`can proceed
`
`with
`
`the
`
`underlying
`
`foreclosure
`
`action
`
`and move
`
`for
`
`an Order
`
`of Reference
`
`relative
`
`to the property
`
`located
`
`at 712
`
`Swaggertown
`
`Road,
`
`Scotia,
`
`NY 12302.
`
`court.
`
`7.
`
`8.
`
`That
`
`no previous
`
`application
`
`has
`
`been made
`
`for
`
`such
`
`an Order
`
`to this
`
`or any
`
`other
`
`No party
`
`to this
`
`action
`
`is entitled
`
`to notice
`
`of
`
`this
`
`application
`
`except
`
`for Emily
`
`Califann
`
`a/k/a
`
`Emily
`
`Jane Califano,
`
`and
`
`Linda
`
`J. Hastings
`
`has
`
`been
`
`provided
`
`notice
`
`of
`
`this
`
`as a courtsey.
`
`motion
`
`9.
`
`All
`
`proceedings
`
`herein
`
`have
`
`been
`
`regular
`
`and
`
`in accordance
`
`with
`
`the
`
`rules
`
`and
`
`practices
`
`of
`
`this
`
`court.
`
`WHEREFORE,
`
`it
`
`is respectfully
`
`requested
`
`that
`
`this
`
`court
`
`grant
`
`plaintiff
`
`s application
`
`for
`
`an order
`
`designating
`
`a suitable
`
`person
`
`to act as Guardian
`
`Ad Litem
`
`for Defendant
`
`Emily
`
`Califano,
`
`and
`
`provide
`
`for
`
`such
`
`other
`
`and
`
`further
`
`relief
`
`as to the
`
`court may
`
`seem just
`
`and
`
`proper.
`
`Dated:
`
`August1,
`
`2015
`
`Bridget
`
`M. Dehmler,
`
`Esq.
`
`14-038653
`
`3 of 58
`
`

`

`|
`
`||||
`
`INDEX NO. 20157
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`
`
`RECEIVED NYSCEF: 12/15/2021
`
`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 2B
`NYSCEF DOC. NO. 14
`
`iNYSCEF DOC. NO. 14
`!
`
`4
`
`.
`
`i
`
`i
`
`4 of 58
`4 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`smanoss'
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`FILED
`16 10:07:24AM
`
`NDEXNUMBERS
`saramescasy clerk
`
`SUMMONS
`
`AND NOTICE
`
`Index No.
`
`Date Filed:
`
`SUPREME COURT OF THE STATE OF NEW YORK
`COUNTY OF SARATOGA
`
`Wells Fargo Bank, N.A.,
`
`Plaintiff,
`
`-against-
`
`Emily Califano a/k/a Emily Jane Califano; The United States
`of America acting through The Secretary ofHousing
`and
`"JOHN DOE", said name being
`Urban Development,
`it being the intention of Plaintiff
`to designate any
`fictitious,
`and all Occupele of premises being foreclosed herein, and
`if any, having or
`any parties, corporations
`or entities,
`claiming an interest or lien upon the mortgaged premises,
`Defendants.
`
`PROPERTY A DDRESS:
`
`712 Swaggertown Road, Scotia, NY 12302
`
`TO TRE ABOVE NAMED
`
`DEFE NDANTS:
`
`YOU ARE HEREBY
`
`SUMMONED
`
`to answer the complaint
`
`in this action and to serve
`
`a copy of your answer, or a notice of appearance on the attorneys for the Plaintiff within thirty
`
`(30) days after the service of this summons, exclusive of
`
`the day of service. The United States of
`
`America,
`
`ifdesignated
`
`as a defendant
`
`in this action, may appear within sixty (60) days of service
`
`hereof
`
`In case of your
`
`failure to appear or answer, judgment will be taken against you by
`
`.
`
`default
`
`for the relief demanded in the complaint.
`
`NOTICE OF NATURE OF ACTION
`
`AND REL]EF
`
`SOUGHT
`
`THE OBJECT
`
`of
`
`the above captioned action is to foreclose a fiome Equity Conversion Mortgage to secure
`
`5243,000.00 and interest,
`
`recorded in the Saratoga County Clerk's Office on February 22, 2007,
`
`in instrument Number: 2007007401 covering premises known as 712 Swaggertown Road,
`
`Scotia, NY 12302.
`
`14-038653
`
`14-038653
`
`5 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`The
`
`relief
`
`sought
`
`in the within
`
`action
`
`is a final
`
`judgment
`
`directing
`
`the sale of
`
`the premises
`
`described
`
`above
`
`to satisfy
`
`the debt
`
`secured
`
`the Home
`
`by
`
`Equity
`
`Conversion
`
`Mortgage
`
`described
`
`above.
`
`Plaintiff
`
`designates
`
`Saratoga
`
`County
`
`as the place
`
`of
`
`trial.
`
`Venue
`
`is based
`
`upon
`
`the
`
`County
`
`in which
`
`the mortgaged
`
`premises
`
`is situated.
`
`NOTICE
`YOU ARE IN DANGER
`OF LOSING
`
`YOUR HOME
`
`TO THIS
`IF YOU DO NOT RESPOND
`SUMMONS
`A COPY OF THE ANSWER ON THE
`ATTORNEY
`.SERVING
`COMPANY WHO FILED
`FORECLOSURE
`PROCEEDING
`THIS
`THE ANSWER WITH
`A DEFAULT·JUDGMENT
`THE COURT,
`FILING
`AND YOU CAN LOSE YOUR HOME.
`ENTERED
`
`BY
`AND COMPLAINT
`FOR THE MORTGAGE
`YOU AND
`AGAINST
`MAY BE
`
`OR GO TO THE COURT WHERE
`TO AN ATTORNEY
`SPEAK
`ON HOW TO ANSWER
`FOR FURTHER
`INFORMATION
`PENDING
`YOUR PROPERTY.
`AND PROTECT
`
`YOUR CASE
`THE SUMMONS
`
`IS
`
`A PAYMENT
`SENDING
`FORECLOSURE
`ACTION.
`
`THIS
`
`TO YOUR MORTGAGE
`
`COMPANY
`
`WILL
`
`NOT STOP
`
`A COPY OF THE ANSWER ON THE
`YOU MUST
`BY SERVING
`RESPOND
`AND FILING
`THE
`(MORTGAGE
`FOR THE
`ATTORNEY
`PLAINTIFF
`COMPANY)
`ANSWER WITH
`THE COURT.
`
`Dated:
`
`December
`
`31, 2014
`
`E. Kolkrf
`Karl
`Associate
`
`ann, Esq.
`Attorney
`DICARO
`for Plaintiff
`
`& BARAK,
`
`LLC
`
`Boulevard
`Crossing
`NY 14624
`Rochester,
`247-9000
`(585)
`Our File No.
`
`14-038653
`
`SHAPIRO,
`Attorneys
`175 Mile
`
`I4-038653
`
`6 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`01
`
`15 10:07:24 AM
`
`INDEXNUMBERS
`SpratogaCountyClerk
`
`MORTGAGE
`COMPLAINT
`
`FORECLOSURE
`
`OF THE STATE OF NE W YORK
`SUPREME
`COURT
`COUNTY OF SARATOOA
`
`Wells Fargo Bank, N.A.,
`
`Plaintiff,
`
`-against-
`
`a/k/a Emily
`Emily Califano
`The United States
`Jane Califano;
`of America
`The Secretary
`through
`and
`of Housing
`acting
`said name being
`Urban Development,
`"JOHN
`DOE",
`it being the intention
`of Plaintiff
`to designate
`fictitious,
`and all occupants
`of premises
`foreclosed
`herein,
`being
`or entities,
`ce
`ratier.e
`if any, having
`or
`any parties,
`an interest
`or
`lien upon the mortgaged
`claiming
`premises,
`Defendants.
`
`any
`and
`
`The Plaintiff
`
`herein,
`
`by its Attorneys,
`
`Shapiro, DiCaro & Barak,
`
`LLC,
`
`comp!eins
`
`of
`
`the
`
`defendants
`
`above named,
`
`and for
`
`Its cause of action,
`
`alleges
`
`that:
`
`fint;
`
`The Plaintiff
`
`herein,
`
`at all
`
`times hereinaâer
`
`mentioned
`
`was and still
`
`is a
`
`duly authorized
`
`National
`
`Association
`
`and having
`
`an office
`
`c/o 3476 Stateview
`
`Blyd, MAC#
`
`X7801-013,
`
`Fort Mill,
`
`South Carolina
`
`29715.
`
`FURTHER
`PLAINTIFF
`UPON INFORMATION
`
`ALLEGES
`AND BELIEF
`
`Second:
`
`The defendants
`
`set
`
`forth
`
`in Schedule
`
`"A"
`
`reside or have a place of
`
`business
`
`at the address
`
`set
`
`fonh therein
`
`and are made defendants
`
`in this action
`
`in the capacities
`
`therein
`
`alleged
`
`and for
`
`the purpose
`
`of
`
`foreclosing
`
`and extirg±Eng
`
`any other
`
`right,
`
`title or
`
`interest
`
`said defendants may have in the subject
`
`premises,
`
`14-038633
`
`7 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`.Th-jg;
`=-
`
`State Tax
`
`-
`
`-
`
`The United
`
`States of America,
`
`The People
`
`of
`
`the State of New York,
`
`The
`
`of
`
`the State of New York,
`
`the Industrial
`
`Commissioner
`
`of
`
`the State of
`
`New York
`
`and all other agencies
`
`or
`
`instmmentalities
`
`of
`
`the Federal, State or
`
`local gove±ment
`
`(by whatever
`
`name designated)
`
`if made parties
`
`to this action
`
`and if appearing
`
`in Schedule
`
`"B",
`
`are made parties
`
`solely
`
`by reason
`
`of
`
`the interest
`
`set
`
`forth
`
`in Schedule
`
`"B" and for no other
`
`reason.
`
`Fourth:
`
`Heretofore,
`
`the dhdant(s),
`
`Emily
`
`Jane Califano,
`
`for
`
`the purpose
`
`of
`
`securing
`
`to Wells Fargo Bank, N.A.,
`
`its successors
`
`and assigns,
`
`d uly made a certain Mj""!e
`
`or
`
`fixed
`
`rate note (Home Equity Conversion
`
`instm-:--t),
`
`wherein
`
`and whereby
`
`they bound
`
`.
`
`themselves,
`
`their heirs, executors,
`
`=d-±!‡ators
`
`and assigns,
`
`and each and every
`
`one of
`
`them,
`
`in the amount
`
`all asmore
`
`appears
`
`together
`
`with
`
`jointly
`
`and severally,
`
`of said sum of money,
`
`fully
`
`the terms of
`
`repayment
`
`of said sum or rights
`
`of Wells
`
`Fargo Bank, N.A.,
`
`its successors
`
`and
`
`assigns,
`
`in said bond, note or other
`
`instrument,
`
`a copy of which
`
`is attached
`
`hereto and made a
`
`part hereof.
`
`As security
`
`for
`
`the payment
`
`of said indebtedness,
`
`a Home Equity
`
`Conversion
`
`Mortgage
`
`was executed
`
`in the sum of $243,000.00,
`
`ackncy,1edged
`
`and delivered
`
`to
`
`Wells
`
`Fargo Bank, N.A.
`
`recorded
`
`in the Saratoga County Clerk's Office
`
`on February
`
`22, 2007,
`
`in
`
`Instrument
`
`Number:
`
`2007007401,
`
`wherein
`
`and whereby
`
`the =ortgagor(s)
`
`named therein
`
`mortgaged,
`
`bargained,
`
`granted
`
`an interest
`
`in and/or
`
`sold to the mortgagee,
`
`its successors
`
`and
`
`assigns,
`
`the premises more particü|âily
`
`described
`
`therein,
`
`heminaner
`
`called
`
`"mortgaged
`
`premises",
`
`under cedain
`
`: with rights,
`
`duties
`
`and privileges
`
`between
`
`or among
`
`them as
`
`more fully
`
`appears
`
`in said mortgage,
`
`a copy of which
`
`is attached
`
`hereto
`
`and made a part hereof.
`
`I4-038653
`
`8 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`Sixth:
`
`Heretofote,
`
`the defendant(s),
`
`Emily
`
`Jane Califano,
`
`also executed
`
`a Home
`
`Equity
`
`Conversion
`
`Loan Ag=mt,
`
`more cammanly
`
`known
`
`as a "Reverse Mortgage
`
`Ag-ement",
`
`which
`
`required
`
`the lender
`
`to pay the sums secured
`
`by the Home Equity Conversion
`
`Mortgage
`
`on a periodic
`
`basis,
`
`instead
`
`of
`
`in one lump
`
`sum at
`
`the time the loan dccumcats
`
`were
`
`executed.
`
`The Home Equity Conversion
`
`Mangage
`
`and Agreement
`
`provided
`
`that
`
`the Lender may
`
`require
`
`!==-diate
`
`payment
`
`in full of all sums secured
`
`if Emily
`
`Jane Califano
`
`ceases to occupy
`
`the subject
`
`premises
`
`as her principal
`
`residence.
`
`In this case the 30 Day Repayment
`
`Demand
`
`for
`
`Non-Occupancy
`
`was dated and mailed August
`
`26, 2014.
`
`Seventh:
`
`The Plaintiff
`
`is the current
`
`owner
`
`and holder
`
`of
`
`the subject Home Equity
`
`Conversion
`
`Mortgage
`
`and Note and therefore
`
`has the authority
`
`to institute
`
`a martgage
`
`foreclosure
`
`action.
`
`Conversion
`
`Mortgage
`
`recorded
`
`and the
`
`Eighth:
`
`The Home Equity
`
`was duly
`
`mortgage
`
`tax due thereon was duly paid on the recorded
`
`insta2ment
`
`in the.proper
`
`County
`
`Clerk's
`
`Office
`
`at the place and time which
`
`appears
`
`therton.
`
`]girgh;
`
`Although
`
`Plaintiff
`
`advanced
`
`the monies
`
`required
`
`pursuant
`
`to the Home
`
`equity
`
`Conversion
`
`neglected
`
`to comply
`
`Loan Mortgage
`and Agreement,
`the m:±m of
`
`with
`
`Emily
`
`Jane Califano
`
`ham/hâve failed
`
`and
`
`the Home Equity
`
`Conversion
`
`Mortgage,
`
`Agreement
`
`and note by omitting
`
`and failing
`
`to comply
`
`with
`
`the terms and pravisions
`
`of
`
`the said instruments
`
`to either occupy
`
`the subject
`
`premises
`
`or
`
`to pay the balance
`
`due upon expiration
`
`period
`
`ofnotice
`
`of default
`
`for acn-occupancy.
`
`The default
`
`has continued
`
`beyond
`
`the applicable
`
`grace period
`
`set
`
`forth
`
`in the Note, Home Equity Conversion
`
`Mortgage
`
`and Agreement
`
`and by reason thereof,
`
`Plaintiff
`
`has elected
`
`and hereby
`
`elects
`
`to declare
`
`immediately
`
`due and payable
`
`the entire unpaid
`
`balance.
`
`14-0386s3
`
`9 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`Tenth:
`
`By reason
`
`of
`
`the foregoing,
`
`there is now due and owing
`
`to the plaintiff
`
`upon said Note, Home Equity
`
`Cer:version
`
`Mortgage
`
`and Agreement,
`
`the unpaid
`
`principal
`
`balance
`
`set
`
`forth
`
`in Schadu!e
`
`C, and such other
`
`fees, costs,
`
`late charges,
`
`and interest,
`
`tife amount
`
`of which will
`
`be determined
`
`by the Court.
`
`Eleventh:
`
`The Home Equity Conversion
`
`Mortgage
`
`provides
`
`that,
`
`in the case of
`
`foreclosure,
`
`the mortgaged
`
`premises may be sold in one parcel.
`
`Twelâh:
`
`The Plaintiff
`
`shall not be deemed
`
`to have waived,
`
`altemd,
`
`released
`
`or
`
`changed
`
`the election
`
`hereinbefore
`
`made by reason of
`
`the payment
`
`or performance,
`
`after
`
`the date
`
`of
`
`the cammancement
`
`of
`
`this action,
`
`of any or all of
`
`the defaults msticted
`
`herein;
`
`and such
`
`election
`
`shall continue
`
`and remain
`
`effective
`
`until
`
`the costs and disbursements
`
`of
`
`this action,
`
`and
`
`all present
`
`and future
`
`under
`
`the Note
`
`Conversion
`
`Mcrtgsge
`
`and
`
`defaults
`
`and Home Equity
`
`Agreement
`
`and occurring
`
`prior
`
`to the discê-"sace
`
`of
`
`this action
`
`are fully
`
`paid and owed.
`
`Thirteenth:
`
`Pursuant
`
`to the Fair Debt Collection
`
`Practices
`
`Act,
`
`this action may be
`
`deemed
`
`to be an attempt
`
`to collect
`
`a debt, on behalf
`
`of Plaintiff,
`
`Any
`
`information
`
`obtained
`
`as a
`
`.
`
`result of
`
`this action will
`
`be used for
`
`that purpose.
`
`Fourteenth:
`
`If
`
`the subject Note and Home Equity Conversion
`
`Mortgage
`
`fall within
`
`the
`
`prescribed
`
`definition
`
`of a sabprime
`
`home loan or high-cost
`
`home loan as idantmad
`
`under
`
`section
`
`six-l or six-m of
`
`the New York State Banking
`
`Law,
`
`then Plaintiffhas
`
`complied
`
`with
`
`all
`
`the
`
`provisions
`
`of section
`
`five-hundred
`
`ninety-five
`
`of
`
`the New York State Banking
`
`Law and any rules
`
`and regü!=tic-s
`
`pismsigated
`
`thcrenadcr,
`
`section
`
`six-l or six-m of
`
`the New York
`
`State Banking
`
`Law and section
`
`thirteen
`
`hundred
`
`four of New York State Real Property
`
`Actions
`
`and
`
`Proceedings
`
`Law (RPAPL).
`
`14-038653
`
`10 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`F‰•nth·
`
`Upon
`
`inft-m-ation
`
`and bef jef, Plaintiff
`
`has comp!!:d
`
`with
`
`the provisions
`
`of
`
`RPAPL
`
`§ 1306,
`
`if applicable.
`
`WHEREFORE,
`
`plaintiff
`
`demands
`
`judgment:
`
`(a)
`
`Adjudging
`
`and decreeing
`
`the amounts
`
`due the plaintif
`
`for priñcipal,
`
`interest,
`
`costs, and reasonable
`
`attorney's
`
`fees,
`
`if and as provided
`
`for
`
`in the said mortgage;
`
`(b)
`
`That
`
`the defendants
`
`and all persons
`
`claiming
`
`by,
`
`thrcügh
`
`or under
`
`them, or either
`
`.
`
`or any of
`
`them,
`
`subsequent
`
`to the cem:ñcncement
`
`of
`
`this.action
`
`and every other person or
`
`corporation
`
`whose right,
`
`title
`
`conveyance
`
`or enc"=hranca
`
`is subsequent
`
`to or subsequently
`
`recorded, may be barred
`
`and forever
`
`foreclosed
`
`of all
`
`right,
`
`claim,
`
`lien, ór
`
`interest,
`
`or equity
`
`of
`
`redemption
`
`in and to said mortgaged
`
`premises;
`
`That
`
`or such part
`
`thereof
`
`to
`
`(c)
`
`the said mortgaged
`
`premises,
`
`as may be necessary
`
`raise the amoants
`
`then due for principal,
`
`interest,
`
`costs,
`
`reasoneb!e
`
`attorney's
`
`fees, allowances
`
`and
`
`disbursements,
`
`together with
`
`any monies
`
`advanced
`
`and paid, may be decreed
`
`to be sold according
`
`to law;
`
`(d)
`
`That out of
`
`the monies
`
`arising
`
`from the sale thereof,
`
`the plaintiffmay
`
`be paid the
`
`amounts
`
`then due on said bond/nete
`
`and Home Equity Conversion
`
`Mortgage
`
`and agreement
`
`and
`
`any sum which may have been paid by the p!aint!Eto
`
`protect
`
`the lien of plaintiffs
`
`mortgage
`
`as
`
`herein
`
`set
`
`forth, with
`
`interest
`
`upon said amounts
`
`from the dates of
`
`the respective
`
`payments
`
`and
`
`advances
`
`thereof,
`
`the costs and expenses
`
`of
`
`this action,
`
`additise!
`
`s!!cw:-ce,
`
`if any, and
`
`reasonable
`
`attorney's
`
`fees,
`
`if and as providcd
`
`for
`
`in the mortgage,
`
`rider
`
`or other agreement,
`
`so far
`
`as the amount
`
`of such money
`
`properly
`
`applicable
`
`thereto will
`
`pay the same;
`
`14-038653
`
`11 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`(e)
`
`That
`
`either
`
`or any
`
`of
`
`the parties
`
`to this
`
`action may
`
`become
`
`a purchaser
`
`upon
`
`such
`
`sale;
`
`(f)
`
`That
`
`this Court
`
`farthwith
`
`appoint
`
`a Receiver
`
`of
`
`the rents
`
`and profits
`
`of said
`
`premises
`
`with
`
`the usual
`
`powers
`
`and duties;
`
`(g)
`
`That
`
`the United
`
`States
`
`of America
`
`shall
`
`have
`
`the right
`
`of
`
`redemption,
`
`if
`
`applicable;
`
`(h)
`
`That
`
`the plainti
`
`f F may
`
`have
`
`such
`
`other
`
`or
`
`further
`
`relief,
`
`or both,
`
`in the premises
`
`as
`
`may
`
`be just
`
`and equitable.
`
`Plaintiff
`
`specifically
`
`reserves
`
`its right
`
`to share
`
`in any
`
`surplus
`
`monies
`
`arising
`
`from the sale
`
`of subject
`
`premises
`
`by virtue
`
`of
`
`its position
`
`as a judgment
`
`or other
`
`lien
`
`creditor
`
`excluding
`
`the
`
`mortgage
`
`being
`
`foreclosed
`
`herein.
`
`Dated:
`
`December
`
`31, 2014
`
`Karl
`E. Kolkrfiano,
`Associate
`Attorney
`DICARO
`for Plaintiff
`
`SHAPIRO,
`Attorneys
`175 Mile
`
`Esq.
`
`& BARAK,
`
`LLC
`
`Boulevard
`Crossing
`NY 14624
`Rochester,
`247-9000
`(585)
`Our File No.
`
`14-038653
`
`.
`
`.
`
`14-038653
`
`12 of 58
`
`E.
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`IIIIII
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`SCEEDULE
`
`A - DEFENDANTS
`
`DEFENDANTS
`
`(APACJTY
`
`Califano
`Emily
`712 Swaggertown
`Scotia, NY 12302
`
`a/k/a Emily
`Road
`
`Jane Califano
`
`"JOHN
`
`DOE"
`
`record
`of
`Owner
`and original
`by the Mortgage
`Note secured
`in Instrument
`22, 2007,
`February
`being foreclosed
`2007007401,
`
`under
`on
`
`obligor
`recorded
`Number:
`herein.
`
`the
`
`it being the
`Said name being fictitious,
`of Plaintiff
`intention
`to designate
`any and all
`or corporations,
`persons
`occupants,
`tenants,
`lien
`or claiming
`an interest
`in or
`any, having
`upon the premises
`being foreclosed
`herein.
`
`if
`
`14-038653
`
`13 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`SCHEDULE
`
`B- DEFENDANTS
`
`DEFENDANTS
`
`CAPACITY
`
`States of America
`The United
`acting
`The Secretary
`of Housing
`and
`through
`Urban Dev±;=mt
`.
`Street SW
`451 Seventh
`DC 20410
`Washington,
`
`mortgagee
`Schordir.ate
`recorded
`on February
`2007007402
`Number
`
`of a May
`by virtue
`22, 2007 in Instrument
`of Mortgages.
`
`14 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`I II
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`SCHEDULE
`
`C
`
`MORTGAGE
`
`INFORMATION
`
`of Bond/Note/
`l. Original
`Amount
`Home Equity Conversion
`
`Loan Agreement
`
`2. Default
`
`date
`
`·.
`
`AMOUNT
`
`DUE
`
`$243,000.00
`
`.
`
`July
`
`10, 2014
`
`3. Principal
`
`balance
`
`owing
`
`$110,026.00
`
`4.
`
`Interest
`
`pursuant
`
`to the terms
`
`of
`
`the Note
`
`To Be Calculated
`
`at Judgment
`
`5.
`
`Interest Rate at
`
`time of Default
`
`Date
`
`1.59%
`
`6. Advanced
`
`by Plaintiff
`
`To Be Calculated
`
`at Judgment
`
`*
`
`continue
`Interest will
`Agreement
`contract
`rate,
`proper
`County Clerk's
`Of
`of 9.00%.
`.
`
`to the terms qf
`pursuont
`to accrue
`a Judyne;::
`of Foreclosure
`until
`ice, at which
`time the interest
`
`the note ond Home Equity Conversion
`in the
`and Sale has been entered
`rate wlil
`be ca|ûü|üi÷à
`at
`the legal
`
`rate
`
`(L4-038653)
`
`14-038653
`
`15 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`SCHEDULE
`
`D
`
`NONE
`
`16 of 58
`
`0 4-038653)
`
`I 4-038653
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`scousso m.v.DEED-ENCutoft$
`
`NATIONALLEGALSUPPLXpgC,
`
`M
`Retween.
`
`n1ctiAct A. cattrauo,
`MIC1tACLA, CA(.tFANO,
`
`ry: c.
`
`d011nf
`
`bjj trirtueqf
`, /g)feyf
`
`antt
`
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`Mrtrfe tha
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`1taceased,
`ofthefiritt
`surfty
`ytrt;
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`st K2 Swaggerteen Road, Sccjia,
`New York 12302,
`õpouse of L1BERATO'
`and no che surviving
`twdividually
`ARTHUII.CAL14ANG,
`t}fthe secemd futrt:
`party
`Witñesseth,17tdt
`thepárt1
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`does
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`
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`
`gitat
`
`tasqfndtrtoney
`
`------------------b-__-IMImr
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`qiDec United States,
`wrid ty; the ×trts
`q(the secemd part.
`her hears ,
`q the súcond yntrt,
`rd/
`raid itssign.v.Iinymi;
`
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`
`situate.
`
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`
`follows:
`
`which point
`itarg n of
`maricle of
`
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`
`THAT TitACT PitcE OR.FARCELOF LAND, with th
`and improvemcoth
`.bunding
`nnd being in the Town of Charlto
`County of $nratogan
`lying
`ofNew York,
`bounded and described
`at
`being ruore particularly
`COMHF.NCINCac a pofme on the Easterly
`of Swaggertown lioade
`is alistimat 260.0 f-cot southes•Iy from Lhe phtCU whei'0 LHe Briatherly
`the Lands now or
`of Joseph·lt.
`gush adjoins
`the northerly
`formerty
`the lyns:3 now nr Earmeriv of £4rah ft. Kennc.. rtwnW esiwEne. A Al°
`thence 5. 98 7' W. 157.4 fos)t
`57f E. 451.3 fect
`to a
`otnt
`Lti rim
`to a pointr
`thence N. 1170
`(he Inndu now or for
`ofy of Vet.)niict
`boundary of
`northerly
`boundary Line of Elec lands now or dorracrty of Voolmic
`W..a.1orig the northerly
`line of Swaggrr owri Rand;
`on the e:tsierly
`t$1.3
`feet
`to a point
`thence along
`Line of Swaggectewn Road, A %° )4' T.,
`the ear.terly
`for a distance
`of 13L4
`feet.
`to the polet
`or
`-pinec of beginning
`being the aforesaid
`
`dtèensions more or
`
`less.
`
`and Lt1ttan
`BE1NCthe shnie premises conveyed by John T. Ccertson
`R. Ceccascri. his W fe, Eo Hichav1 A. Cat( fano by di•ed datva October 19, 1979
`mah recorded October 2'J, 3'l19 .in Itook 1001 of Deeds nL I'nge 45.
`This conveyance La made subject
`
`to all
`
`valid
`
`and enforcenbN
`
`cuivest.unts, comltilmm,
`
`e.int•ewitts,
`
`rs:htcletlem
`
`ond zoenbig prdln.inces
`
`aldut:ti,itt
`
`the protalses.
`
`The said Hiebach A. Califane
`Franklin County (n the $sate of OMo.
`
`died nn July 20, 1989,qa r
`
`iden
`
`of
`
`. ;
`
`,,
`
`18y 2 7 .993
`
`COtinT
`
`um1358rm
`
`630
`
`17 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`.
`
`I
`
`y
`
`Tohave
`her hei rs
`
`to an· ladyt6mne.ss wrevrm: by
`thi s conveyance is muø* an accepte4i subject
`a mortrage upon said preatnes .Iw.gdby -Not†NEAsr SAVINCS, F. A. . 5WC,gesaer
`t9
`SQIFJfr.CTAln'3AVINGSBANK,
`CouwhyClorlL*h Ot((ce., on thr- 23rd
`ubich rectg;nge w:as:rcrordog In the Sarnep
`in sook n4
`day of October
`, 1919,
`or Hortgages ne par
`286. on which th
`of EycigTFJ;NTHOUSANDr1Vl:
`an untpaLdprincient
`IIUNDREDFokTV AND414/100---------
`wig.h int erpr!L froma tinrch I
`the rat.c of
`Itol lar‰ 018.¼0.84--)i
`. 1993. at
`crcent per anawa. which said mortpege debt che purtnes of
`ten
`the second part.
`the purchase .prtre of
`he eby-assumn nad agree Lo pays ns part of
`the above
`the seco'nd patr
`descr-Ibed preemises-.and the partha
`hocchy erecote and
`of
`the purpose of complytog with the prevWons
`nchnowledge c.his Instrument
`for
`the Cenerni
`.0bt Inn t tons Law, ses;t ion h 705.
`said 1bstat
`and ateo an the estate vihichthe
`T
`ether
`thiththe
`oppurtenancer,
`tinneqf ¼ '
`sagich
`dècease,£nsaid premises, Ahd al otheastatetherein,
`had at
`has
`to contey ordispose of whether
`or1man
`potocr
`thefrst
`.
`or
`sahi Win or athchuke.
`si.stuc
`unto theport y
`, holdthepromises
`and
`hereingmuted
`q(these@sdpart,
`g;gdaggigggforgugyr
`
`s
`
`of
`
`SUBJECT to the '1hist Fund brovisions
`
`of Sec6on Thideen
`
`of the Lien Law.
`
`And thgpart·y
`of sn@rrvet astything where
`whaters:
`
`han
`she
`t part arenanNhat
`the said prems.W Juxve bcon incumbered
`
`stoedone
`in atry stxty
`
`4 Whnans Whereof,
`asi‡sést
`Aand
`
`part has
`ofthofirst
`the party
`aboocwri
`the day and year offrst
`ten
`
`harsunto set
`
`E A U. BNVA
`
`As Eteentrh(s)tinderd.heLam WUlandhstnreens at
`MCHAEL.A. CALt.FAND
`nu.med
`
`-
`.oHF.>-
`On utis
`State of
`"8'
`COGntiy Of FRANKLIN
`NineteenHundred
`befDF't7Ne, the $MÔ3($ÏÓgr,pØrsoft(Ùly appfar
`PSEDAD. BRYANT,
`MCHAEL,A. CALIFANO,
`test Win ated 1bstantent Qf
`
`:c:t:
`daU Qf
`January
`,and Nines y"Wes three
`
`the Erdc1storqfthc
`
`to ine
`asut
`
`ykt
`
`fiq
`
`knous and kstoum Jo me to he the some person
`thewithinhestrument,ased
`she duty
`·tzoculed the same an stsch Execed r (×
`ntathat
`she
`'
`thentinsnentiosted.
`
`described in
`as q{ore-
`
`I
`
`*., O u I
`''''
`
`JACCUEUkE.S.GUIStNCER
`NotaryPublic,Sta(eolchio
`y cornmissionExphus0.28-D6
`
`5 Eof.myr yoga
`34DMCACDISNt Cè¿
`
`a
`7
`
`a
`
`tm1356nu
`
`69t
`
`.
`
`.
`
`18 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`-EGLCRB.TJFjÇA
`N
`Pursuant
`to Secllon at OS of
`flie Nedy-ymr,
`CMI Practice Law and Rulem L n·grr
`admirled
`to practice
`in the couris
`d th
`State, hereby certify thal
`this copy has been
`compared
`by me with ine origirmf arid is n
`tru
`nd compiele
`copy therJoL
`
`ADJUSTABLE
`(HOME
`EQUITY
`
`RATE NOTE
`CONV
`S
`
`N
`
`PEBRUA1LYD2, 20p5
`712 8WAGGERTcNNROAD
`ScoTIA, NY 12302
`
`,
`
`, or any such other
`
`that
`
`.
`
`maean Anarmeg
`1. DEFINITIONS
`"Borrower" meanseach person signing at thipend of this Moto, *Londar" means
`fELLE PAttGÔSANit, N.A.
`and its su#essorsand assigrth "Secretary" means the Secretary of Housing and
`. Urban.Developmentor his of her authosizedreoresentatives.
`2. BORROWER'sPROMISETO PAY: INTEREST
`In return.Iot annountsto be.advanced by Landerto or for the honefit of Gorro or undes this
`T g•Loan
`o2/07
`terms of a Home Equity Conversion Lean A reermentdated
`A reement"I Borrowtr profnikes to*pay tot a otder of Lander a petr½cipalamo'Ontaqual to the sum
`c all LoanAdvartees made under the Loan
`feement with Mterest. All amounts advanced b
`interest win be charged on unpaid principal at the rate ofsh m 600
`a and payable oriADGUST15TM
`,20 6
`Londer',plus interest, if not paid earlief. are
`0
`6.600 %) per·yeaf until the fitlI amount of
`percent f
`principal has been paid, The Interest rMe may changein accordance with Paragraph 5 of this Nota.
`Accrued Interessshall be edded to the principal balance as a Loart Advance at the end of eacti
`month.
`3. PROMISETO PAY SECURED
`.
`e, deed of trust or similar security instr0ment
`Dorrower·s promise to-pay is'secured b a m
`'Secudlylnstrument2
`hai is deted the same date-as4his Note an caGe
`That Security
`ustrument protects the Lander from.losses which might result If Borrtpwerdefedhs under this Note.
`4. MANNEROF PAYMENT
`IAI Time
`Genowes shanpay aUoutstandhig piincipal and acetoed imerett to Lander
`n recaipt of a
`notii:e by Lender requiring immediate payment in fu8. as provided In Paragraph of this Note.
`(B) Place
`Payment shall be made atWELteSPARGO9AtlK, W.A.
`3480 STATIiNrfEWBLVD, NAc 27802-038
`POMTM8.1,, Sc 29715-7203
`B00-472-320$
`ce as Landerrna designata In wridng by notice to Borrowen
`C) Limitation of Lie lity
`Sorrower shab here tio personaMlabi9tyfor payment of the debt. Londer shall onlorce the
`debuonly throv h sale of the Propefty covered by the Security instrument ("Property I. If this
`Noto is strigne
`to the Secretary, the Borrowel shalt not he fiable for anydifference
`etween
`the4nortgage frusurancebenefits said to Leroderand the outstanding indebtedness. IncludMD
`accrued mterest, owed by Barro\ver at the time of the assignment.
`5. INTERESTRATECHANGES
`IA) Chan a Date
`on the first day-of MAY 2007
`TheInterest rate may chan
`3 and on
`day of each succeedin year
`the first day of each aucceedingmartth. 'Chongo Daie
`means each date on
`ich the
`st rate could chango.
`(d) The IndaM
`BeginrAngwith the first Change DeLe,theÎnter0st rate will bGbased on an ladex. "Indem*
`means·the weekfy average y341don1.hiited Status.Treasury Securities a
`ted to a constant
`maturity of one ear, on made available by1he FederalReserve Bobrd. "
`t Index" means
`the most recant.ndes figure available 30 days beforo4he ChangeDete. If the Index las defined
`above) is no to cr avanable,Lander will use as a new Inde×iny indow.proscribedby the
`Sectotary. en
`witt give Barrower Actice of the new indes
`(C) Calculason of interesi Rate Changes
`Beforeeach Change Date, Leader will calculate a new Intatest rate by adding a margin of
`oftE AND ONE-HALP
`1.500 N
`Descentagepoints
`to the Current Index, Subject to the limits stated in Paragthph5(
`of this Note, this amount wirl
`he the new interest rate uritil the negaChangaDate
`to on Interest Rate Changes
`IDJ
`The interest rate witi never increaseor decreaseby more than two percentagn points
`(2,0 ) on an singfethango Date. The Interest rate wlE never be incre than five orr:ontage
`points t5,0% higher or lower than tita iñitionnterest rme stotod In Par
`raph 2 n thla Noto.
`The imerest satewiU never incrueseaboves2XTERN MrD 600/ oco
`16 .600 %).
`eccentI
`E) Notice of Changes
`Londer will
`ve notics to Borrower of any chango iniho interest rate. The notice must be
`given at least 2 days before the new interest smo taken effect end must set tooth II) the date
`of the notice, tiiI the Change Date. lim the old interest rate, trv the itew intotest rate, (vi the
`Cunam indau and the 4me h was pubushed, 190the Insthnd D calculating the adjusted interest
`rate, and (WI)any other information which rnay be required by law from time to time,
`
`·
`
`NMFLfaen IOAMUIlievo5/o812oo6
`aoXA:0s/oa-
`
`PageI of 3
`
`19 of 58
`
`

`

`FILED: SARATOGA COUNTY CLERK 12/03/2015 11:35 AM
`NYSCEF DOC. NO. 14
`
`INDEX NO. 20157
`
`RECEIVED NYSCEF: 12/15/2021
`
`.
`
`dh Effective Data of Changes
`A new interest rate calculated In accordance with paragraphs6{C) and SID) of this Note wUI become
`offacdve on the ChangeDete, unless the Change Date occurs less then 26
`after Lender has given
`the r ulred nodce. if the Imerest rata calculated in accordance whh Paragra e 6(C) and 6(D) of this
`Note
`creased. but Landerfated to give timely nodca of the decreaseand a
`a higher rate than
`the rate which should have been stated In a timely neelce,then Landershan r
`culate the principal
`balanceowed under thla Note so It does not re4act eny excessive interest.
`6. BORROWER'SRIGHTTO PfIEPAY
`A Borrower has the
`ht to
`the debt evidencedby this Note, In whole or In port, without charge or
`penalty. Any ornount of
`wmifirst be appiled to reduce the pdncipal balance of the Second Nota
`describedin Pefagraph 11 of
`Note end then to reduce the principal batenceof thla Note.
`All
`payments of the principal balance sha0 be uppHedby Landeres follows:
`to that pardon of the principal balance represeming aggregate payments for inortgage
`nea premiums:
`to that portion of the
`el balance representing aggre to payments for servicIng feea;
`to that portion of the princi
`balancerepresenting accrued torest due under the Note; and
`to the remaining
`of the principal balance. A Borrower may specif