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Litigation-Coral Coast v. City,,o* OKEec's' O. � . o 1,147 �: , Cty of Okeechobee 55 S.E. Third Avenue • Okeechobee, Florida 34974 - 2932.813/763- 3372 August 5, 1991 John Drago 55 SE 3rd Avenue Okeechobee, Florida 34972 Re: Coral Coast vs. City Dear John: This lawsuit involved a foreclosure against Hensen Homes property on which the City had a lien for utility services in the amount of $900.00 or so. I filed an answer, and affidavit alleging that utility liens come ahead of mortgages in these matters, in order to collect the money. Instead of paying, the bank dismissed the City as a Defendant, and foreclosed. The effect of this means that when the bank re -sells it, the utility lien will be a cloud on the title, and it will most likely have to be paid, with interest, at that time. I have expended about 1 1/2 hours in the lawsuit, couple o_ long distance calls, and at my hourly rate, appreciate a check in the sum of $112.50. Kindest Regards, John R. Cook JRC /vs plus a I would CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6th AVENUE, INC., a Florida corporation, et al, IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA NOTICE OF VOLUNTARY DISMISSAL Fla. Bar #265683 Defendants. COMES NOW the Plaintiff, CORAL COAST SAVINGS BANK, FSB, by and through its undersigned Counsel and files this its Notice of Voluntary Dismissal of Defendants, CITY OF OKEECHOBEE, insofar as they are included in this action as a lienholder, with prejudice. WE HEREBY CERTIFY that a true and correct copy of the foregoing Notice of Voluntary Dismissal was mailed to the following parties this DUB day of July, 1991: JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, FL 34972 WALTER SYLVESTER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 394 -5547) ROBERT DE HARDER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 799 -0233) BART L. DININ 207 -209 S.E. 6th Avenue Okeechobee, FL 34974 HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 A. TRINZ LAW OFFICES OF HELLER AND CHAMES, P.A. 121 S.E. 1ST STREET • SUITE 600 • MIAMI. FLORIDA 33131 • TELEPHONE: (305137S-13272 • FAX: 1305) 374 -3554 IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CORAL COAST SAVINGS BANK, FSB, CIVIL DIVISION Plaintiff, CASE NO. 90 -755 CA vs. FINAL SUMMARY JUDGMENT OF FORECLOSURE 207 S.E. 6TH AVENUE, INC., a Florida corporation, et al, Defendants. THIS CAUSE having come on before this Court for hearing on Plaintiff, CORAL COAST SAVINGS BANK, FSB's, Motion for Final Summary Judgment, Plaintiff's Affidavits as to the amounts due on the Notes and Mortgages sought to be foreclosed, and the Complaint, and the Court having jurisdiction over the subject matter and the parties herein, and being otherwise fully advised, it is ORDERED AND ADJUDGED: 1. Plaintiff, CORAL COAST SAVINGS BANK, FSB, has established by competent proof the allegations of the Complaint and has produced the original Mortgage and Note, copies of which were attached to the Complaint. 2. That the mortgage is reformed to correct the legal description of the property as follows: Lots I and J, Replat of Lots I and J in Block 252 of an Addition to the City of Okeechobee, according to the plat thereof as recorded in Plat Book 4, Page 82 of the Public Records of Okeechobee County, Florida. 3. Plaintiff, CORAL COAST SAVINGS BANK, FSB, is entitled to foreclose its mortgage(s) and said lien is prior in date and superior in dignity to the right, title, interest, claim or demand of the Defendant(s) /Mortgagor(s), 207 S.E. 6TH AVENUE, INC., upon the following- described property: Lots I and J, Replat of Lots I and J in Block 252 of an Addition to the City of Okeechobee, according to the plat thereof as recorded in Plat Book 4, Page 82, of the Public Records of Okeechobee County, Florida. 4. There is now due and owing to the Plaintiff the following: a. Principal due on Note and Mortgage $ 173,898.36 b. Interest thru 7 -31 -91 at the rate of 54.95 per day $ 24,565.13 c. Abstracting Fees $ 400.00 d. Filing Fee and recording of Lis Pendens $ 75.50 e. Service Fee $ 240.00 f. Corporate Searches $ 25.00 g. Escrow Shortage $ 8,666.90 h. Property Inspections $ i. Late Charge Balance $ 927.10 j. Insurance $ SUBTOTAL: $ 208,797.99 Attorney's Fees awarded by the Court $ 173 0., 00 TOTAL: $ Ca lU r 5. That unless the sums found to be due herein shall be paid within three (3) days from this date to the Plaintiff, CORAL COAST SAVINGS BANK, FSB, or its attorneys, that the above - described property shall be sold by GLORIA J. FORD, as Clerk of this Court, and he is hereby authorized and directed to sell said property at Public Sale, at 11:00 a.m., on the c29 day of C tt , 199 ( , the same being not less than twenty (20) days from the date of this Final Summary Judgment of Foreclosure, to the highest bidder or bidders for cash, in the lobby of the Okeechobee County Courthouse, in the City of Okeechobee, after having given notice as required by Florida Statutes Section 45.031. 6. Plaintiff, CORAL COAST SAVINGS BANK, FSB, shall advance the cost of publishing the Notice of Sale and the Clerk's Fee of $25.00 for making the sale, and shall be reimbursed therefor by the Clerk out of the proceeds of the sale, if the Plaintiff shall not become the purchaser of the property at the sale. 7. Plaintiff may be a bidder for the purchase of the property at the sale. If the Plaintiff shall be the purchaser at the sale, the Clerk shall credit on the bid of the Plaintiff the total sum found to be due to the Plaintiff or such portion thereof as may be necessary to pay fully the bid of the Plaintiff except the sums set forth in Paragraph 7(a) of this Final Summary Judgment of Foreclosure. 8. After confirmation of the sale, whether the confirmation be by the Clerk filing the Certificate of Title or by Order of this Court ruling upon objections to such, the Clerk shall make distribution of the proceeds of the sale as follows: (a) All costs and expenses of these proceedings subsequent to the entry of this Final Summary Judgment of Foreclosure, including the cost of publishing the Notice of Sale and the Clerk's Fee for making the sale (unless the Plaintiff, having already paid for these two items of costs, shall be the purchaser at the sale), and the costs of the State Documentary Stamps affixed to the Certificate of Title. (b) The total sum herein found to be due to the Plaintiff, plus interest on the total sum herein found to be due at twelve (12 %) percent from the date of this Summary Final Judgment of Foreclosure to the date of the issuance of the Certificate of Title herein. 9. If the total sum realized on the sale exceeds the total sums ordered to be paid by Paragraph 7 of this Summary Final Judgment of Foreclosure, the excess shall be paid into the Registry of the Court to thereafter be disbursed as this Court shall hereafter direct; and if the total amount realized shall not be sufficient to pay all of those sums, the Clerk shall pay first those specified in Paragraph 7(a) and shall pay the balance to the Plaintiff, CORAL COAST SAVINGS BANK, FSB. 10. Upon confirmation of the sale, whether by the Clerk filing the Certificate of Title herein, or by the Order of the Court ruling upon objections to the sale, or disbursements of the sale by the Clerk, the Defendant(s),207 S.E. 6TH AVENUE, INC., and any and all persons claiming by, through, under or against the Defendant, 207 S.E.6TH AVENUE, INC., since the date of the filing of the Lis Pendens herein are forever barred and foreclosed of and from any and all right, title, interest, claim, or demand of any kind or nature whatsoever, or equity of redemption of, in and to the hereinabove- described property and the Clerk of the Court is hereby ordered to issue a Writ of Possession to the purchaser. 11. Jurisdiction of this action is retained to enter further Orders as are proper, including, without limitation, deficiency judgments. DONE AND ORDERED in Chambers at Okeechobee County, Florida, this o d(14 day of .' , 199 / /s/ WILLIAM L HENDRY CIRCUIT COURT JUDGE Copies Furnished To: Deborah S. Chames, Esq. 121 S.E. First St., Suite 600 Miami, Florida 33131 WALTER SYLVESTER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 394 -5547) ROBERT DE HARDER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 799 -0233) JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, Florida 34972 BART L. DININ 207 -209 S.E. 6th Avenue Okeechobee, FL 34974 CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVENUE, INC., a Florida corporation, et al, Defendants. STATE OF FLORIDA) )SS. COUNTY OF IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA AFFIDAVIT OF LOST QR MISPLACED ORIGINAL Fla. Bar #265683 BEFORE ME, the undersigned authority, personally appeared ALFREDO E. ALVAREZ , who after being by me first duly sworn, deposes and says; 1. That I am the Vice President of CORAL COAST SAVINGS BANK, FSB, the Plaintiff herein, and am duly authorized to make this Affidavit. 2. The mortgage deed was lost, stolen, or destroyed from the Plaintiff without fault on Plaintiff's part and are not in the custody or control of the Plaintiff, CORAL COAST SAVINGS BANK, FSB. 3. A copy of the mortgage is attached hereto as Plaintiff's Exhibit "A" and same is a certified copy by the Clerk of the Okeechobee County Circuit Court; said certification is dated July 1, 1988. FURTHER AFFIANT SAYETH NAUGHT. SWORN TO AND SUBSCRIBED before me this .•2. 00L day of _71,J,4 199 I OTARY FUSLI StateLipij/ 0-4 of Florida at Large r777'MY-Commission Expires: NOTAR. PUBLIC STATE OF FLORIDA NY CORNISSION EXP. DEC. 2,1991 BONDED 1HRU GENERAL INS. UND. ALFREDO E. ALVAREZ Vice President CERTIFICATE OF SERVICE WE HEREBY CERTIFY that a true and correct copy of the foregoing Motion for Summary Final Judgment of Foreclosure was mailed to the following Counsel this 3 0 da of - Y 199: JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, FL 34972 WALTER SYLVESTER, Individually and as agent for HENSEN HOMES (Via Telefax 407 -394 -5547) ROBERT DE HARDER, Individually and as agent for HENSEN HOMES (Via Telefax 407 -799 -0233) BART L. DININ 207 -209 S.E. 6th Avenue Okeechobee, FL 34974 HELLER & CHAMEs, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 1 • BCGK 296 PACE,.224 Class C Intangible Tax in the amount of $--,56.c:6- ., paid this --41---\S-K- Clerk Circuit Co.uf [Space Above This Line For Recording Data] MORTGAGE THIS MORTGAGE ( "Security Instrument ") is given on JUNE 20 1988 Themortgagoris 207 S.E. 6TH AVENUE, INC., A FLORIDA CORPORATION ( "Borrower "). This Security Instrument is given to CORAL COAST SAVINGS BANK, FSB which is organized and existing under the laws of STATE OF FLORIDA 113 NORTH CONGRESS AVENUE, BOYNTON BEACH, FLORIDA 33436 Borrower owes Lender the principal sum of ONE HUNDRED SEVENTY –FIVE THOUSAND AND NO /100 Dollars (U.S. $ 175,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on JANUARY 1 , 2019 This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender the following described property located in OKEECHOBEE County, Florida: , and whose address is ( "Lender "). `' r 1 �( .1 i ' l:r� 1�1� I1 r Iii is t s• t." :: 4,,' -� N. t X= - _ 6 2 01.- Disi. co { THIS INSTRUMENT PREPARED BY: CORAL COAST SAVINGS BANK, FSB 113 NORTH CONGRESS AVENUE BOYNTON BEACH, FLORIDA 33436 which has the address of 207 -209 S.E. 6 5T i4 • [Street] Florida 34974 [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. ( "Property Address "); ,OKEECHOBEE (City) THIS SECURITY INSTRUMENT combines uniform covenants for national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. FLORIDA — Single Family—FNMA/ FHLMC UNIFORM INSTRUMENT CD -6 (F L) 187111 VMP MORTGAGE FORMS • 131 312 93 -8 100 • 18001521.7291 TM � k. /? ; /2, Form 3010 12/83 . UNIFORM COVENANTS. Borrower a►,d Lender covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ( "Funds ") equal to one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security instrument; (b) yearly Leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data and reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. - 6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substantially change the Property, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. loge 1r, 296 PACE 1225 Bar 296 racE122E If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any .condemnation or other taking of any part of the Iroperty, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all suns secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security hnstrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. 6LGK 296 FACE NON-UNIFORM COVENANTS. b J....rand Lender further covenant and agree follows: 19. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior toa.cceleration under paragraphs 13 and 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non- existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited to, reasonable attorneys' fees and costs of title evidence. 20. Lender in Possession. Upon acceleration under paragraph 19 or abandonment of the Property, Lender (by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. Any rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited . to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Security Instrument. 21. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument without charge to Borrower. Borrower shall pay any recordation costs. 22. Attorneys' Fees. As used in this Security Instrument and the Note, "attorneys' fees" shall include any attorneys' fees awarded by an appellate court. 23. Riders to this Security Instrument. Hone or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. [Check applicable box(es)] ® Adjustable Rate Rider ❑ Condominium Rider ❑ 2-4 Family Rider ❑ Graduated Payment Rider ❑ Planned Unit Development Rider ❑ Other(s) [specify] BY SIGNING BELOW, Borrower accepts and agrees to the terms and jenants contained in this Security Instrument and in any rider(s) executed by Borrower and recorded with it. 207 . . 6.,� AVENUE, INC. Signed, sealed and delivered in the presence of: , (Seal) eHARDER, PRESIDENT'- Borrower (Seal) , — Borrower (Seal) — Borrower (Seal) — Borrower [Space Below This Line For Acknowledgment] STATE OF FLORIDA, PFl t—tit i?i i:ALI -f County ss:/eL/% /' v490- I hereby certify that on this day, before mc, an officer duly authorized in the state aforesaid and in the county aforesaid to take acknowledgements, personally appearcd /22) b Fr-6 DQ-1-404- c+ , to me known to be the person (s) described in and who executed the foregoing instrument and acknowledged before me that %R, executed the same for the purpose therein expressed. WITNESS my hand and official seal in the county and state aforesaid this ,198£3 My Commission expires: Notary Public, State of Florida My Commission Expires Aug. 19, 1990 ` � p 9 Notary Public $end,d th,u Trey Ain • In,uran , Inc -29 day of '11 C t 296 tact L X28 ADJUSTABLE RATE RIDER (1 Year Treasury Index —Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 20TH day of JUNE , 19 88 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Decd of Trust or Security Deed (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to CORAL COAST SAVINGS BANK, FSB (the "Lender ") of the same date and covering the property described in the Security Instrument and located at: 4... 207 -209 S.E. 61414k82, OKEECHOBEE, FLORIDA 34974 (Property Address) THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR- ROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 8.250 %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of JULY , 19 89, and onthat 'day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of I year, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding THREE percentage points ( 3 . 000 %) to the Current Index. The Note Holder will then round the result of this addition to the nearest one - eighth of one percentage point (0.125 %). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The *result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate 1 am required to pay at the first Change Date will not be greater than 1 0.250 %or less than 6.250 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two percentage points (2.0 %) from the rate of interest I have been paying for the preceding twelve months. My interest rate will never be greater than 13.750 %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question 1 may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement 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 consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. MULTISTATE ADJUSTABLE RATE RIDER —ARM 5- 2— Single Family — Fannie Mae /Freddie Mac Uniform Instrument Form 3111 3/85 CD -822A 187121 IM VMP MORTGAGE FORMS • (313■293.8100 • 18001521.7291 If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of accelera• tioh. The notice shall provide a period of not Tess than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. LL Leis c L. L! -�•t� W= .-1 C.) ) t• .% :.., t..r) Via€ l: BY SIGNING BELOW, Borrower accepts and agrees to the terms and cov Rider. 207 S.E. 6T VENUE, INC. :Y, Alb. / , rtrc. /,.W (Seal)' ROBERT ' P1IeHARDER, PRESIDENT,'- Vil grower.•. r. CS� %'r- r12 C.- -' ,Spa I): • 0im"- 6brrowEra'. .,,,∎... (Seal) s -Borrower nts contained in this Adjustable Rate • STATE OF FLORIDA OKEECHOBEE COUNTY THIS IS TO CERTIFY THAT THIS I5 A TRUE AND CORRECT COPY OF THE RE.:_Oi DS ON FILE IN THIS OFFICE. GL.pRIA J. FORD CLERK BY Uo to, D.C. DAZE IN THE CIRCUIT COURT IN AND FOR THE NINETEENTH JUDICIAL CIRCUIT, OKEECHOBEE COUNTY, FLORIDA. CASE NO. 90- 755 -CA CORAL COAST SAVINGS BANK, FSB Plaintiff, -vs- CITY OF OKEECHOBEE, FLORIDA, etc. et.al. Defendants. AFFIDAVIT IN OPPOSITION TO SUMMARY JUDGMENT BEFORE ME, the undersigned authority, duly authorized to administer oaths, personally appeared one known to me to be JOHN R. COOK, who being first duly sworn according to law, deposes and says the following: 1. THAT affiant is City Attorney for the Defendant City of Okeechobee, Florida, and submits this affidavit from his personal knowledge of the facts, in +opppsitien ,toF the motion for summary judgment filed herein by the Plaintiff: `�! 2. THAT the claim of the City in this case is a lien for utility services lodged against the realty by the City subsequent in time to the mortgage herein held by Plaintiff. 3. THAT by virtue of that certain resolution of the City dated December 8, 1989, Resolution No. 89 -12, the City authorized the issuance of revenue bonds, series 1989, pursuant to its authority under Florida Statutes 166. 4. THAT Florida Statutes 159.17 indicates that any municipality issuing revenue bonds shall have a lien on all lands or premises served by any water or sewer system for all services charges for such facilities until paid, which liens shall be prior to all other liens on such lands except those liens of the State, county or municipal taxes. 5. THAT this lien of the City for water /sewer services against the subject property is superior to that of Plaintiff, and not subject to being extinguished by this action. SUBMITTED THIS -414- Day of July, 1991. caol\„k(e9-q, John R. Cook SWORN TO AND SUBSCRIBED this 24th day of July, 1991. Ira+► �t,,r or ' 1z/cr.. � 9 hero. Notary Public M"M1995 MyCommissionExpires: MndN TAM Try Foto • Inamoncf Inc. I HEREBY CERTIFY a true copy of the foregoing has been furnished this 21 day of July, 1991, to: DEBORAH S. CHAMES, 12 SE First St., Suite 600, Miami, Florida, 33131. John R. Cook 202 NW 5th Avenue Okeechobee, Florida 34972 (813)467 -0297 Florida Bar 262951 IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CORAL COAST SAVINGS BANK, FSB, CIVIL DIVISION Plaintiff, CASE NO. 90 -755 vs. 207 S.E. 6TH AVENUE, INC., a Florida corporation, et al, Defendants. TO: JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, FL 34972 ROBERT DE HARDER (via Telefax 407 - 799 -0233) NOTICE OF HEARING SPECIAL APPOINTMENT Fla. Bar No. 311448 BART L. DININ 207 -209 S.E. 6th Ave Okeechobee, FL 34974 WALTER SYLVESTER (via Telefax - 407-394-4457) PLEASE TAKE NOTICE that the undersigned Counsel for the Plaintiff will call up for hearing and argument, before the Honorable WILLIAM L. HENDRY, one of the Judges of the above - styled Court, in his Chambes at the Okeechobee County Courthouse, 304 N.W. Second Street, Okeechobee, FL , on my 30, 1991 at 4:00 p.m. or as soon thereafter as counsel may be heard on: PLAINTIFF'S MOTION FOR SUMMARY FINAL JUDGMENT. PLEASE BE GOVERNED ACCORDINGLY. WE HEREBY CERTIFY that a true and correct copy of the foregoing was mailed or telefaxed to the above -named parties this day of July, 1991. HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 BY: CHAMES c/ LAW OFFICES OF HELLER AND CIIAMES, P.A. 121 S.E. 16T STREET • SUITE 600 • MIAMI. FLORIDA 33131 • TELEPHONE: 13051 375 -5272 • FAX: 1305) 374 -3554 IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CORAL COAST SAVINGS BANK, FSB, CIVIL DIVISION Plaintiff, CASE NO. 90 -755 CA vs. 207 S.E. 6TH AVENUE, INC., a Florida corporation, Defendants. PLAINTIFF'S MOTION FOR SUMMARY FINAL JUDGMENT OF FORECLOSURE Fla. Bar #311448 Plaintiff, CORAL COAST SAVINGS BANK, FSB, by and through its undersigned Counsel hereby moves this Court for the entry of a Summary Final Judgment of Foreclosure against all Defendants herein on the grounds that there are no genuine issues as to any material fact in this cause and that the Plaintiff is entitled to Judgment as a matter of law. The grounds upon which this Motion is based include the undisputed facts that: 1. On the dates indicated therein, the Note and Mortgage herein sought to be foreclosed were executed and filed, respectively. 2. Plaintiff now owns and holds the aforementioned Mortgage and Note. 3. The Defendant(s) /Owner(s) now own(s) and hold(s) possession of the property subject to the Mortgage by failing to make certain payments of principal and interest as more fully set out in the affidavits supporting this Motion. 4. The claims and interest in the property of all other defendants in this cause attached to the property subsequent to the time that the lien of the Mortgage attached hereto. LAW OFFICES OF HELLER AND CHAMES, P.A. 1 2 1 S.E. 1 9T STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: 13051 375-8272 • FAX: (3051 374 -3554 5. Plaintiff has complied with all conditions precedent to the filing of the instant foreclosure action. In view of the foregoing, the interests and claims in the property are subject and /or subordinate to the interests of Plaintiff herein. Wagner v. Phillips Co.. 172 So. 238 (1937); 22 Fla. Jur., Mortgage Section 123. In further support of this Motion, Plaintiff relies on the pleadings of record, Plaintiff's Costs Affidavit, Plaintiff's Amount Due Affidavit and Plaintiff's Attorney's Fees Affidavits and such other pleadings and affidavits as may be timely filed. WHEREFORE Plaintiff prays this Court enter a Summary Final Judgment of Foreclosure in this cause against the /all Defendant(s) for the amount found by this Court to be due the Plaintiff under the Note, which Note is secured by the Mortgage herein sought to be foreclosed, and further adjudging that in default of the payment of that amount be Defendant(s) /Owner(s) the property encumbered by the Mortgage be sought to be foreclosed be sold in the interest of all parties. WE HEREBY CERTIFY that a true and correct copy of the foregoing Motion for Summary Final Judgment of Foreclosure was LAW OFFICES OF HELLER AND CHAMES, P.A. 121 S.E. 1ST STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: 13051 375 -8272 • FAX: (305) 374 -3554 ,31- mailed to the following Counsel this / day of Ua�c U 199 I : JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, FL 34972 WALTER SYLVESTER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 394 -5547) ROBERT DE HARDER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 799 -0233) BART L. DININ 207 -209 S.E. 6th Avenue Okeechobee, FL 34974 HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 LAW OFFICES OF HELLER ANA CHAMES, P.A. 121 S.E. 19T STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: (3061375-5272 • FAX:13051374 -3554 CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVENUE, INC., a Florida corporation, et al, Defendants. STATE OF FLORIDA) )ss. COUNTY OF DADE ) IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA AFFIDAVIT OF COSTS INCURRED AND TIME EXPENDED Fla. Bar #311448 BEFORE ME, the undersigned authority, personally appeared DEBORAH S. CHAMES, who after being duly sworn upon oath, deposes and says: 1. That I am a partner of the lawfirm of HELLER & CHAMES, P.A., and am the attorney of record for the Plaintiff in the above - styled action. 2. That I am familiar with the file, time, and accounting records relative to this action and have determined, upon review of such records, that the total time expended )on behalf of the Plaintiff in the prosecution of this action was /L' hours and it will be necessary to expend additional time estimated at_ hours. 3. That Plaintiff has retained the undersigned lawfirm to represent its interest and rights in this action and is obligated to pay attorney's fees based upon individual attorney's time incurred. 4. That our present billing rate is $150.00 per hour LAW OFFICES OF HELLER AND CHAMES, P.A. 121 S.E. 1ST STREET • SUITE 600 • MIAMI. FLORIDA 33131 • TELEPHONE: 13051 375 -8272 • FAX: 1305) 374 -3554 and the Plaintiff has obligated itself for the payment of such fees. 5. That in the event the Court awards the undersigned attorney a reasonable fee determined to be higher than charged the client, such fee will in fact be paid from the proceeds of any sale of the property. 6. That to date the costs incurred in this action are: a. Filing Fee $ 75.50 b. Service of Process $ 240.00 c. Rapid Title $ 400.00 d. Corporate Searches $ 25.00 TOTAL: $ 740.00 FURTHER AFFIANT SAYETH NAUGHT. SWORN TO AND SUBSCRIBED befo a me this day of _U.•U 199 1 . NOTARYI at Large My Commission Expires: MY COMMISSION 1,1 PUBLIC CALI State, iof lorida CERTIFICATE OF SERVICE WE HEREBY CERTIFY that a true and correct copy of the foregoing Affidavit of Costs Incurred and Time Expended was mailed to the following Counsel this 1 day of ji I- f f 199 ( : JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, Florida 34972 WALTER SYLVESTER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 394 -5547) ROBERT DE HARDER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 799 -0233) BART L. DININ 207 -209 S.E. 6th Avenue Okeechobee, FL 34974 HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 (305) 375 -8272 CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVENUE, INC., a Florida corporation, et al, Defendants. STATE OF FLORIDA) )SS. COUNTY OF DADE ) IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA AFFIDAVIT FOR ATTORNEY'S FEES Fla. Bar #311448 BEFORE ME, the undersigned authority personally appeared ANDREW H. DRUCKER, ESO., of the lawfirm of ANDREW H. DRUCKER, P.A., who after being duly sworn, deposes and says: 1. That he is an attorney at law duly licensed to practice as such in the State of Florida. 2. That he is familiar with the fees generally charged in this community for real estate mortgage foreclosure proceedings, and that his practice involves, in part, the representation of clients defending and prosecuting foreclosure actions. 3. That he has examined the pleadings herein contained in the file of HELLER & CHAMES, P.A., Counsel for Plaintiff, CORAL COAST SAVINGS BANK, FSB, in connection with the above - styled foreclosure proceedings. 4. That, based on the foregoing, and the other ethical criteria prescribed by The Florida Bar for determining a reasonable i -ij:(' , t1' fee, he is of the opinion that an attorney's fee of $ is a reasonable fee to be awarded to the attorneys for Plaintiff, LAW OFFICES OF HELLER ANI) CIIAMES, P.A. 1 2 1 S.E. 1ST STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: 13051 375 -8272 • FAX: 1305) 374 -3554 HELLER & CHAMES, P.A., for legal services rendered and work performed by them. FURTHER AFFIANT SAYETH NAUGHT. SWORN TO AND SUS9RIBED befo me this / � day of /f66 ?-c/ , 199_7/_. NOTARY PUBLIC, State ot'Florida My Commission Expires: l;// ) f ( �� /r ANDREW H. DRUCKER NOTARY PUBLIC, STATE OF FLORIDA AT LARGE MY COMMISSION EXPIRES AUGUST 26, 1994 BONDED THRU HUCKLEBERRY & ASSOCIATES CERTIFICATE OF SERVICE WE HEREBY CERTIFY that a true and correct copy of the foregoing Affidavit of Attorney's Fees was mailed to the following � }1 Counsel this I day of 0-Lc -1 (< '" , 199 ( . JOHN R. COOK, ESQ. City Attorney 202 N.W. Fifth Avenue Okeechobee, FL 34972 BART L. DININ 207 -209 SE 6th Ave. Okeechobee, FL 34974 HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St., Suite 600 Miami, Florida 33131 (305) 375 -8272 LAW OFFICES OF HELLER AND CHAMES, P.A. 121 S.E. 1 5T STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: (305) 375 -8272 • FAX: (3051374-3554 CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVENUE, INC., a Florida corporation, et al, Defendants. STATE OF FLORIDA) )SS. COUNTY OF IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA AFFIDAVIT OF AMOUNTS DUE Fla. Bar #311448 BEFORE ME, the undersigned authority, personally appeared Alfredo E. Alvarez , who after being by me first duly sworn, deposes and says: 1. That I am the Vice President of CORAL COAST SAVINGS BANK, FSB, the Plaintiff herein, and am duly authorized to make this Affidavit. 2. That I have real the Complaint filed on behalf of CORAL COAST SAVINGS BANK, FSB, and all matters alleged therein are true and correct. 3. That I am personally familiar with the facts contained herein. 4. That the Plaintiff is the owner and holder of the Note and Mortgage and all indebtedness evidenced and secured therein which is attached as Exhibits "A" and "B" to Plaintiff's Complaint. 5. That the Note and Mortgage are in default in that the principal due on demand has not been paid. 6. That there is due and owing to the Plaintiff the following principal and interest: Principal: Interest through 7 -31 -91 at the rate of 54.95 per day: TOTAL: $ ]73,898.36 24,565.13 $ 198,463.49 7. That additionally, Plaintiff has, to this date, advanced the following sums to preserve the security herein. Abstract and Search $ Late charge balance $ 927.10 ktitAAA4Aetft Escrow Shortage $ 8,666.90 Property Inspections Appraisal $ Taxes Title Search 8. That Plaintiff has employed the firm of HELLER & CHAMES, P.A. to foreclose the Mortgage and has, therefore, incurred an obligation to pay said firm a reasonable fee for its services. FURTHER AFFIANT SAYETH NAUGHT. SWORN TO AND SUBSCRIBED before me this_2Jth day of Dime , X99 1 . of Flo'ida at Large My Commission Expires: NOTARY PUBLIC STATE OF FLORIDA NY CONNISSION EXP. DEC. 2,1991 BONDED THRU GENERAL INS. UND. AN - redo E. Alvarez, Vice President CERTIFICATE OF SERVICE WE HEREBY CERTIFY that a true and correct copy of the foregoing Affidavit of Amounts Due was mailed to the following Counsel this / day of JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, FL 34972 WALTER SYLVESTER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 394 -5547) ROBERT DE HARDER, Individually and as agent for HENSEN HOMES (Via Telefax 407 - 799 -0233) , 199 / . BART L. DININ 207 -209 SE 6th Avenue Okeechobee, FL 34974 HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 (305) 375 -8272 BY: EBRAH`. CHAMES CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVENUE, INC., a Florida corporation; ROBERT J. DE HARDER, Individually; BART L. DININ, Individually; CITY OF OKEECHOBEE; SUZICO, INC., a Florida corporation; and ROBERT BALOGH, Defendants. IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA NOTICE OF VOLUNTARY DISMISSAL Fla. Bar #311448 COMES NOW Plaintiff, CORAL COAST SAVINGS BANK, FSB, by and through its undersigned Counsel and files this its Notice of Voluntary Dismissal of Defendants, ROBERT BALOGH and SUZICO, INC., insofar as they are tax certificate holders. WE HEREBY CERTIFY that a true and correct copy of the foregoing Notice of Voluntary Dismissal was mailed to the following ae parties this day of M r h, 1991: JOHN R. COOK, ESQ. City Attorney /Okeechobee 202 N.W. Fifth Avenue Okeechobee, FL 34972 ROBERT BALOGH, ESQ. 777 41st Street Miami Beach, Florida SUZICO, INC. P. O. Box 45 Salina, Kansas 67402 -0045 BART L. DININ 207 -209 SE 6th Avenue Okeechobee, FL 34974 HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 BY: DE ►.H S CHAMES LAW OFFICES OF HELLER AND CHAMES, P.A. 121 S.E. 1ST STREET • SUITE 600 • MIAMI. FLORIDA 33131 • TELEPHONE: 13051 375 -8272 • FAX: (3051374-3554 •• • CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVE., INC., a Florida corporation; ROBERT J. DE HARDER, Individually; BART L. DININ, Individually; CITY OF OKEECHOBEE; SUZICO, INC., a Florida corporation; and ROBERT BALOGH, Defendants. IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90- 755 -CA NOTICE OF VOLUNTARY DISMISSAL Fla. Bar #311448 COMES NOW the Plaintiff, CORAL COAST SAVINGS BANK, FSB, by and through its undersigned Counsel and files this its Notice of Voluntary Dismissal of Defendants, ROBERT J. DE HARDER and BART L. DININ, insofar as they are included in this action as Guarantors, with prejudice. WE HEREBY CERTIFY that a true and correct copy of the foregoing Notice of Voluntary Dismissal was mailed to the following ✓ i7-1/ parties this J day of February, 1991: ROBERT DE HARDER 901 Martin Downs Blvd, #316 Palm City, Florida GREGORY J. BLODIG, ESQ., As Registered Agent for SUZICO, INC. 1620 N. Federal Highway Ft. Lauderdale, FL 33305 and ROBERT BALOGH 777 41st Street Miami Beach, Florida CITY OF OKEECHOBEE JAMES KIRK, as Mayor 55 S.E. Third Avenue Okeechobee, Florida 34972 LAW OFFICES OF HELLER AND CHAMES, P.A. 1 2 1 S.E. 1sT STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: 1305) 375 -5272 • FAX: (305) 374 -3554 BART L. DININ 207 -209 S.E. 6th Avenue Okeechobee, Florida 34974 HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 (305) 375 -8272 CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVE. INC., a Florida corporation; ROBERT J. DE HARDER, Individually; BART L. DININ, Individually; CITY OF OKEECHOBEE; SUZICO, INC., a Florida corporation; and ROBERT BALOGH, Defendants. THE STATE OF FLORIDA: IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA CIVIL ACTION SUMMONS To Each Sheriff of Said State: YOU ARE HEREBY COMMANDED to serve this summons and a copy of the .Amended Notice of Lis Pendens, and Amended Complaint in this action on Defendant: CITY OF OKEECHOBEE to be served at: JAMES KIRK, as MAYOR, CITY OF OKEECHOBE-E 55 S.E. ` Third Avenue Okeechobee, Florida 34972 Each Defendant is required to serve written defenses to the Amended Complaint on Plaintiff's attorney, to -wit: DEBORAH S. CHAMES, ESQ. HELLER &`CHAMES, P.A. 121 S.E. First St, Suite 600 Miami, Florida 33131 within 20 days after service of this Summons on that Defendant, exclusive of the day of service and to file the original of the defenses with the Clerk of this Court either before service on Plaintiff's attorney or immediately thereafter. If a Defendant fails to do so, a default will be entered against that Defendant for the relief demanded in the Complaint. DATED , 1991. Gloria J. Ford Clerk of said Court BY: \-34S)&„ as Deputy Clerk (Court Seal) CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6TH AVE. INC.; a Florida corporation; ROBERT J. DE HARDER, Individually; BART L. DININ, Individually; CITY OF OKEECHOBEE; SUZICO, INC., a Florida corporation; and ROBERT BALOGH, Defendants. IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90- 755 -CA AMENDED NOTICE OF LIS PENDENS Fla. Bar #311448 TO DEFENDANTS: 207 S.E. 6TH AVE. INC.; ROBERT J. DE HARDER; BART L. DININ, CITY OF OKEECHOBEE; SUZICO, INC., and ROBERT BALOGH; AND TO ALL OTHERS WHOM IT MAY CONCERN: YOU ARE NOTIFIED of the institution of this action by Plaintiff against you seking foreclosure of a mortgage on the following property in Okeechobee County, Florida: Lots I and J, Rep4t of Lots I and J in Block 252 of an Addition to the City of Okeechobee, according to the plat thereof as recorded in Plat Book 4, Page 82, of the public records of Okeechobee County, Florida. DATED this c>7,3 day of January, 1991. HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33132 (305) 375 -8272 LAW OFFICES OF HELLER AND CIIAMES, P.A. 121 S.E. 19T STREET • SUITE 600 • MIAMI FLORIDA 33131 • TELEPHONE: 13051 375 -8272 • c■■• CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6th AVE., INC., a Florida corporation; ROBERT J. DE HARDER, Individually; BART L. DININ, Individually; CITY OF OKEECHOBEE; SUZICO, INC., a Florida corporation; and ROBERT BALOGH; Defendants. IN THE CIRCUIT COURT OF THE 19TH JUDICIAL CIRCUIT, IN AND FOR OKEECHOBEE COUNTY, FLORIDA CIVIL DIVISION CASE NO. 90 -755 CA AMENDED COMPLAINT Fla. Bar #311448 COMES NOW the Plaintiff, CORAL COAST SAVINGS BANK, FSB, a corporation organized and existing under the laws of the United States, sues Defendants, 207 S.E. 6th AVENUE, INC., ROBERT J. DE HARDER, BART L. DININ, CITY OF OKEECHOBEE, SUZICO, INC., and ROBERT BALOGH, and alleges: AS TO ALL COUNTS 1. Plaintiff, CORAL `COAST SAVINGS BANK, FSB, is a federal savings institution doing business in Palm Beach County, Florida. 2. Defendant, 207 S.E. 6TH AVE., INC., is a corporation organized and existing under the laws of the State of Florida, and doing business in Okeechobee County, Florida. 3. Defendant, ROBERT J. DE HARDER, is a resident of Okeechobee County, Florida and sui juris in all respects. LAW OFFICES OF HELLER AND CHAMES, P.A. 121 S.E. 1 eT STREET • SUITE 600 • MIAMI. FLORIDA 33131 • TELEPHONE: 13051 37 5 -82 7 2 • FAx: 13051 374 -3 5 54 4. Defendant, BART L. DININ, is a resident of Okeechobee County, Florida and sui juris in all respects. 5. Defendant, CITY OF OKEECHOBEE, is a municipality located in Okeechobee County, Florida. 6. Defendant, SUZICO, INC., is a corporation organized and existing under the laws of the State of Florida and doing business in Okeechobee County, Florida. 7. Defendant, ROBERT BALOGH, is a resident of Dade County, Florida and a tax certificate holder in Okeechobee County, Florida. COUNT I 8. This is an action to foreclose a mortgage on real property in Okeechobee County, Florida. 9. On June 20, 1988 Defendant, 207 S.E. 6th AVE., INC., executed and delivered an Adjustable Rate Note and a Mortgage securing payment of it to Plaintiff. The Mortgage was recorded in Official Records Book 296 at Page 1224 of the Public Records of Okeechobee County, Florida. A'..true and correct copy of the Mortgage and Note are attached hereto and incorporated herein by reference as Exhibits "A" and "B ", respectively. 10. Plaintiff owns and holds the Note and Mortgage. 11. Defendant, 207 S.E. 6TH AVE., INC., now owns and holds possession of the subject property. 12. Defendants, 207 S.E. 6TH AVE. INC., ROBERT J. DE HARDER, and BART L. DININ, have defaulted uner the Note and Mortgage by failing to pay the payment due June 1, 1990, and all subsequent payments. LAW OFFICES OF IIELLER AND CIIAMES, P.A. 1 21 S.E. 1 97 STREET • CIIITC cnn • 13. Plaintiff has complied with all conditions precedent to the filing of this action. Plaintiff declares the full amount payable under the Note and Mortgage to be due. 14. Defendants, 207 S.E. 6TH AVE. INC., ROBERT J. DE HARDER, and BART L. DININ, owe Plaintiff $173,898.36, that is due as principal on the Note and Mortgage, interest from June 1, 1990, and title search expenses of ascertaining the necessary parties to this action. 15. That as an additional incident of default, the Defendants, 207 S.E. 6TH AVE. INC., ROBERT J. DE HARDER, and BART L. DININ, have failed to pay real estate taxes for the years 1988 and 1989, contrary to the specific terms of the mortgage. 16. That as an additional incident of default, the Defendants, 207 S.E. 6TH AVE. INC., ROBERT J. DE HARDER, and BART L. DININ, have failed to pay a municipal lien filed by the CITY OF OKEECHOBEE in the amount of $586.26, contrary to the specific terms of the mortgage. 17. Defendant, SUZICO, INC., may claim to have an interest in the property described in the Mortgage by virtue of a tax certificate held by it, under tax certificate #2492, Okeechobee County Tax Collector's Office, for unpaid taxes for the year 1989. Said interst is subject, subordinate, and inferior to the mortgage held by CORAL COAST SAVINGS BANK, FSB. 18. Defendant, ROBERT BALOGH, may claim to have an interest in the property described in the Mortgage by virtue of a tax certificate hdld by him, under tax certificate #2054, Okeechobee County Tax Colletor's Office, for unpaid taxes for the LAW OFFICES OF HELLER AND CHAMES, P.A. 121 S.E. 1ST STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: 13051375 -9272 • FAX: (305)7474 -74CC4 year 1988. Said interest is subject, subordinate, and inferior to the mortgage held by CORAL COAST SAVINGS BANK, FSB. 19. Defendant, CITY OF OKEECHOBEE, may claim to have an interest in the property described in the Mortgage by virtue of a municipal lien filed by it in the amount of $820.55. Said interest is subject, suborinate, and inferior to the mortgage held by CORAL COAST SAVINGS BANK, FSB. 20. Plaintiff has retained the undersigned law firm to represent it in this matter and has promised to pay said firm a reasonable attorney's fee for its services. WHEREFORE Plaintiff demands an accounting of the sum due Plaintiff under the Note and Mortgage, including principal and accrued interest, all costs of these proceedings, taxes, insurance, abstract and title search expenses, and a reasonable attorneys' fee; if the same is not paid- within thf time set by this Court, that the property be sold to satisfy Plaintiff's claim, and if the proceeds of the sale are insufficient to pay Plaintiff's claim, that a deficiency judgment be entered for the balance remaining unpaid against the Defendant(s) /Owner(s); that the claims of all Defendants and all persons, firms, and /or corporations claiming by, throuh, under, or against any or all of them since the filing of the Notice of Lis Pendens be foreclosed; that upon issuance and delivery of the Certificate of Title to the successful bidder and purchaser at the aforementioned sale, the Defendant(s) in possession, if any, and all persons, firms, and /or corporations claiming by, through, under or against them, remove themselves from the premises forthwith; and such other and further relief as this LAW OFFICES OF HELLER AND CHAMES, P.A. Court may deem just and proper. DATED this 3 day of January, 1991. HELLER & CHAMES, P.A. Attorneys for Plaintiff 121 S.E. First St, Suite 600 Miami, Florida 33131 (305) 375 -8272 ritaYA-c2-7 BY: E ORAH . CHAMES LAW OFFICES OF HELLER ANL) CIIAMES, P.A. 121 S.E. 19T STREET • SUITE 600 • MIAMI, FLORIDA 33131 • TELEPHONE: 13051 375.8272 • FAx: 13051 374 -3554 r 350.,E J Nome e cK 29G PACE1224 Class C Intangible Tax in the amount co of $ , paid this )y,...Q F Y•]a . Cleric Circuit Cou11 'Space Above This Une for Recording Dotal MORTGAGE THIS MORTGAGE ("Security Instrument") is given on JUNE 20 1988 The mortgagor is 207 S.E. 6TH AVENUE, INC. , A FLORIDA CORPORATION ( "Borrower "). This Security Instrument is given to CORAL COAST SAVINGS BANK, FSB which is organized and existing under the laws of STATE OF FLORIDA 113 NORTH CONGRESS AVENUE, BOYNTON BEACH, FLORIDA 33436 .and whose address is Borrower owes Lender the principal sum of ( "Lender "). ONE HUNDRED SEVENTY —FIVE THOUSAND AND NO /100 Dollars (U.S. f 175,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Security instrument ( "Note "). which provides for monthly payments, with the full debt, if not paid earlier, due and payable on JANUARY 1, 2019 Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all This renewals, extensions and modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender the following described properly located in . OKEECHOBEE County, Florida: • ...... •'• : �'� .f • °- v.� ("Ff LI': NS' :'::f1UL1' j fA q r12 o' .w THIS INSTRUMENT PREPARED BY: CORAL COAST SAVINGS BANK, FSB 113 NORTH CONGRESS AVENUE BOYNTON BEACH, FLORIDA 33436 "k which has the address of 207 -209 S.E. 6 VPINKT IVJ • 'Street/ OKEECHOBEE Florida 34974 ("Property Address"); /City) (tip Code/. TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. TIIIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. FLORIDA—Single Family— FNMA /FHLMC UNIFORM INSTRUMENT CP8 (FL, 157111 •� VMI •0117GAGE MOWS • I3I31793 elpp • 15001571.7791 Form 3010 12/83 r—' ' 1 . 1 .1 A I/ UNIFORM COVENANTS. ''rower and Lender covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and Tate charges due under the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note. until the Note is paid in full. a sum ( "Funds`) equal to one - twelfth of: (a) yearly taxes and assessments which may attain priority over this Security Instrument: (b) yearly leasehold payments or ground rents cm the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of current data and reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not sufficient 10 pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender. Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S. !lizard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage".and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for' the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substantially change the Properly, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sutns secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from requesting payment. the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower 4.0u Pal 1t t j eg r, 29G PIGF122G �l;c If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing. the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the raking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower That the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges. and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. Ira refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. Legislation Affecting Lender's Rights, If enactment or expiration of applicable laws has the effect of rendering any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices, Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of'Another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. IS. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16, Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. however, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the dale of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) lakes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. however, this right to reinstate shall not apply in the case of acceleration under paragraphs 13 or 17. NON - UNIFORM COVEN ■ ..,rrower and Lender further covenant and ogre. ... follk , coon *—vv • , 19. Acceleration; Remedw tLender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (hut not prior tttacceleration under paragraphs 13 and 17 unless applicable law provides others%isel. The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less Than 30 days from the date the notice Is given to Borrower, by which the default must be cured; and Id1 that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non- existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled In collect all expenses incurred in pursuing the remedies provided in this paragraph 19, including, but not limited to, reasonable attorneys' fees and costs of title evidence. 20. Lender in Possession. Upon acceleration under paragraph 19 or abandonment of the Property, Lender (by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. Any rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Properly and collection of rents, including, but nol limited to, receiver's fees. premiums on receiver's bonds and reasonable attorneys fees, and then to the sums secured by this Security Instrument. 21. Release. Upon payment of all sums secured by This Security Instrument, Lender shall release this Security Instrument without charge to Borrower. Borrower shall pay any recordation costs. 22. Attorneys' Fees. As used in this Security Instrument and the Note, "attorneys' fees" shall include any attorneys' fees awarded by an appellate court. 23. Riders to this Security Instrument, If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. (Check applicable box(es)j © Adjustable Rate Rider ❑ Condominium Rider ❑ 2-4 Family Rider ❑ Graduated Payment Rider . ❑ Planned Unit Development Rider ❑ Other(s) (specify] BY SIGNING BELOW, Borrower accepts and agrees to the terms and Tenants contained in this Security Instrument and in any riders) executed by Borrower and recorded with it. Signed, sealed and delivered in the presence of: 207 6j;�AVENUE, INC. (Seal) eHARDER, PRESIDENT-eo"O"*' • (S;aI) (Seal) — 8otrower (Seal) — eo..ower lSpact aetaw This 1.k» For Acknowledgment] STATE OF FLORIDA, PALM A 64c i-4 ' County ss:41" / f� 1 hereby certify that on this day, before me, an officer duly authorized in the state aforesaid and in the county aforesaid to take acknowledgements. personally appeared btr-6 beMarcitr. , to me known to be the person(s) described in and who executed the foregoing instrument and acknowledged before me that expressed. executed the same for the purpose therein WITNESS my hand and official seal in the county and state aforesaid this 1 l ivtlti , 1988 My Commission expires: * Notary mi Pvl4l Stara of florid, — I�Jan(ha -. A /1 • - ► Commissar hp its Aug, i9 1544 is H!hc h1YXL1" a..M ta,. t,., N. • r,,.,,on s„ Notary Public •29441 day of ADJUSTABLE RATE NOTE �(��� (1 Year Treasury Index —Rate Caps) U THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE A 0 ./../A, MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY INTEREST RATE CAN .1)Cµ^-'" ,{/ CHANGE AT ANY ONE TIME ANO THE MAXIMUM RATE I MUST PAY. JUNE 20 , 1988 B1 TON BEACH , FLORIDA . /wE Idyl 207 -209 S.E. 6 T, OKEECHOBEE, FLORIDA 34974 (State 1. BORROWERS PROMISE TO PAY )Property Address) In return for a loan that 1 have received. I promise to pay U.S. S 175,000.00 (this amount is called "principal "), plus interest. to the order of the Lender. The Lender is CORAL COAST SAVINGS BANK, FSB 1 understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of principal has been paid. 1 will pay interest at a yearly rate of 8.250 %. The interest rate 1 will pay will change in accordance with Section 4 of this Note. The interest rate required by this Section 2 and Section 4 of this Note is the rate 1 will pay both before and after any default described in Section 7(8) of this Note. 3. PAYMENTS (A) Time and Plate of Payments 1 will pay principal and interest by making payments every month. 1 will make my monthly payments on the first day of each month beginning on FEBRUARY 01 19 89 !will make these payments every month until 1 have paid all of the principal and interest and any other charges described below that I may owe under this Note. My monthly payments will be applied to interest before principal. I1. on JANUARY 01 , 2019 . 1 still owe amounts under this Note, 1 will pay those amounts in full on that date, which is called the "maturity date." Q 1 will make my monthly ppayments at 113 NORTH CONGRESS AVENUE Bplace it required the Note Homer. , or at a different (B) Amount of My Initial Monthly Payments Each of my initial monthly payments will be in the amount of U.S. S 1,316.00 This amount may change. (C) Monthly Payment Changes Changes in my monthly payment will reflect changes in the unpaid principal of my loan and in the interest rate that 1 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. 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate! will pay may change on the first day of JULY every 12th month thereafter. Each date on which my interest rate could change is called a 9ChangeaDate. "that day (8) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of I year. as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." MULTISTATE ADJUSTABLE RATE NOTE —ARM 5•2 —Sngle Farrwly —Fannie Mae /Freddie Mae Unttcrm Instrument Form 3502 3,9S CD •e2z 117091 VW' MO*TGAGE FOAMS • 13131252 5100 • 15001521 7251 X h, i 7 i `1 If the Index is no longer able. the Note Holder will choose a new index which awonsed upon comparable information. The Note Holder ;IT give me notice of this choice. ICI Calculation of Changes Before each Change Dale. the Note Holder will calculate my new interest rate by adding THREE percentage points (3.000 9G) to the Current Index. The Note Holder will then round the result of this addition to the nearest one- eighth done percentage point (0 125T I. Subject to the limits staled in Section 4(1.)) below. this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (Di Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 10.250 3 or Tess than 6.250 1. Thereafter. my interest rate will never be increased or decreased on any single Change Date by more than two percentage points (2.0%) from the rate of interest I have been paying for the preceding twelve months. My interest rate will never be greater than 13.750 `k. 1E1 Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. IFI Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question 1 may have regarding the notice. S. BORROWER'S RIGHT TO PREPAY I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "prepayment." When 1 make a prepayment. 1 will tell the Note Holder in writing that I am doing so. 1 may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will use all of my prepayments to reduce the amount of principal that I owe under this Note. 1(1 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. My partial 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. 6. LOAN CHARGES If a law. which applies to this loan and which sets maximum loan charges, 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 charge shall be reduced by the amount necessary 16 reduce the charge to-the permitted limit: and (ii) any sums 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 1 owe under this Note or by making a direct payment to me. If a refund reduces principal. the reduction will be treated as a partial prepayment. 7. BORROWERS FAILURE TO PAY AS REQUIRED (A) Late Charges for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of FIFTEEN FIYE calendar days after the date it is due, 1 will pay a late charge to th' Note Holder. The amount of the charge will be % of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment. (B) Default If 1 do not pay the full amount of each monthly payment on the date it is due. I will be in default. (C) Notice of Default ...r If I am in default. the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been paid and all the interest that 1 owe on that amount. That date must be at least 30 days after the date on which the notice is delivered or mailed to me. (D 1 No Waiver By Not Holder Even if, at a time when 1 am in default. the Note l(older does not require me to pay immediately in full as described above. the Note Holder will still have the right to do so if 1 am in default at a later time. (E 1 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 me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include. for example. reasonable attorneys' fees. 8. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if 1 am given a notice of that different address. 9. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note. each person is fully and personally obligated to keep all of the promises made in this Note. including the promise to pay the full amount owed. Any person who is 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 endorser of this Note. is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 10. WAIVERS 1 and any other person who has obligations under this Note waive the rights of presentment and notice of 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 Holder to give notice to other persons that amounts due have not been paid. I I. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this 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 which might result if I do not keep the promises which I make in this Note. That Security Instrument describes how and under what conditions 1 may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: Transfer of the Property or a Beneficial Interest in Borrower. If all; or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may. at its option. require immediate payment in full of all sums secured by this Security Instrument. however, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the-loan assumption and that the risk of a breach of any covenant or agreement 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 consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by (his Security Instrument without further notice or demand on Borrower. THE CURRENT INDEX VALUE FOR THIS LOAN IS 7.54 %. WIT%ESS THE HAVD(S) ANO SEALS) OF TIIE UNDERSIGNEfj' 207 dam • v ROBE ENUE, INC. ARDER, PRESIDENT DOCUMENTARY STAMPS IN AMOUNT OF E 262.50 HAVE BEEN DULY AFFIXED AND CANCELLED ON THE ORIGINAL MORTGAGE. •A Seal) Borrower (Seal) Bo ower Seal) Borrower (Seal) — Borrower /Sign •r • •f Only/ tK 296 ract1228 ADJUSTABLE RATE RIDER (1 Year T y Index —Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 20TH day of JUNE , 19 88 . and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to CORAL COAST SAYINGS BANK, FSB (the "Lender ") of the same date and covering the property described in the Security Instrument and located at: 207 -209 S.E. 6'4T , OKEECHOBEE, FLORIDA (Property Address! THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR- ROWER MUST PAY. 34974 ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 8.250 %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates • The interest rate 1 will pay may change on the first day of JULY . 19 89. and on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." ' - (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year. as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding THREE percentage points ( 3.000%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one - eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that 1 am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate 1 am required to pay at the first Change Date *ill not be greater than 10.250 %or less than 6.250 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two percentage points (2.0%) from the rate of interest I have been paying for the preceding twelve months. My interest rate will never be greater than 13.750 %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of the Property or • Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may. at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement 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 consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. MULTISTATE ADJUSTABLE RATE RIDER— ARM S- 2— Single Family — Fannie Mae /Freddie Mac Uniform kntrument Form 3111 3/85 .ai2A 117121 141111 MOIITGAGI !OH•S • 1313.203 1100 • 1/001571 7111 If Lender exercises the °o we to require immediate payment in full. Lender shall giv2+1lltrrower notice of accclera• Lion. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. Cr) • BY SIGNING BELOW, Borrower accepts and agrees to the terms and co Rider. •j: • i.; nts contained in this Adjustable Rate • 207 S. E. 6T ' VENUE, INC. ei■ MI6. /Lux Sesl ROBERT ��reHARDER, PRESIDENT _':`borrowe j r•. STATE OF FLORIDA OKEECHOBEE COUNTY THIS IS TO CERTIFY THAT THIS IS A tRL'ii At%) ::.JRRECT COPY OF Tiyl _•..hUS ON FILE IN THIS lirrt_f. C'r.L� J. FOR CLERK BY i;N1E +, D.C. IN THE CIRCUIT COURT OF THE NINETEENTH JUDICIAL CIRCUIT IN AND FOR OKEECHOBEE COUNTY, FLORIDA GENERAL JURISDICTION DIVISION CASE NO. CORAL COAST SAVINGS BANK, FSB, Plaintiff, vs. 207 S.E. 6th AVENUE, INC., a Florida corporation, and ROBERT J. DeHARDER, Defendants. COMPLAINT Plaintiff, CORAL COAST SAVINGS BANK, FSB, a federally chartered savings institution, sues Defendants, 207 S.E. 6th AVENUE, INC., a Florida corporation, and ROBERT J. DeHARDER, alleging the following: THE PARTIES 1. Plaintiff, CORAL COAST SAVINGS BANK, FSB, is a federally chartered savings institution, with its principal place of business in Palm Beach County, Florida. 2. Defendant, 207 S.E. 6th AVENUE, INC., is a Florida corporation currently doing business in Okeechobee County, Florida. 3. Defendant, ROBERT J. DeHARDER, is a resident of Palm Beach County, Florida and is sui juris. JURISDICTION AND VENUE 4. This is an action to foreclose a mortgage on real property located in Okeechobee County, Florida, and for damages in excess of $5,000.00, exclusive of interest, costs and attorneys fees. GENERAL ALLEGATIONS 5. All conditions precedent to the institution of this action have been performed, have occurred, been waived or excused. 6. Plaintiff has had to retain the services of undersigned counsel to pursue its rights and remedies herein, and has obligated itself to pay said counsel a reasonable fee for all legal services rendered herein. COUNT I Action on Promissory Note Plaintiff reavers and realleges all of the allegations contained in Paragraphs 1 through 6, above, as though fully set forth herein, and further alleges':`, 7. On or about June 20, 1988, 207 6th AVENUE, INC., and ROBERT J. DeHARDER executed and delivered a promissory Note ( "Note ") to Plaintiff in the principal sum of ONE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($175,000.00). A true and correct copy of the Note is attached hereto and made a part hereof as Exhibit "A ". 8. Plaintiff owns and holds the Note. 9. Defendants have defaulted under the Note by failing to make successive installment payments due thereunder. 10. Defendants have failed and refused to pay the delinquent amount of principal and interest due and owing under the Note, despite due demand therefore by Plaintiff. 11. Plaintiff has elected to accelerate payment of the balance due under the Note, and hereby declares the entire balance immediately due and payable. 12. Defendants owe Plaintiff the unpaid principal balance of ONE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($175,000.00), or the current balance thereof, plus accrued interest from February, 1990 at the default rate provided in the Note, plus late charges or other costs due thereunder. WHEREFORE, Plaintiff, CORAL COAST SAVINGS BANK, FSB, demands . judgment against Defendants, 207 S.E. 6th AVENUE, INC., a Florida corporation, and ROBERT J. DeHARDER, jointly and severally, for the principal sum of ONE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($175,000.00) or the current balance thereof, plus all accrued interest thereon, late charges, costs and a reasonable attorney's fee, as well as such other and further relief as appears just, equitable and proper. COUNT II Action to Foreclose Mortgages Plaintiff reavers and realleges all of the allegations contained in paragraphs 1 through 6, above, as though fully set forth herein, and further alleges: 13. To secure the indebtedness arising under the Note dated June 20, 1988, Defendant, 207th S.E. 6th AVENUE, INC., executed and delivered to Plaintiff a mortgage securing payment of the Note. The mortgage was recorded in Official Records Book 296, at Page 1224, et seq. in the Public Records of Okeechobee County, Florida and mortgaged the real property described therein which was then owned and in the possession of Defendant 207 S.E. 6th AVENUE, INC. A true and correct copy of the mortgage is attached hereto and made a part hereof as Exhibit "B ". 14. Plaintiff owns and holds the Note and mortgage. 15. The real property encumbered by the mortgage is now owned by and in the possession of Defendant 207 S.E. 6th AVENUE, INC. 16. Defendant, 207 S.E. 6th AVENUE, INC. has defaulted under the Note and mortgage by failing to make successive installment payments due thereunder, despite written demand therefore by Plaintiff, a true copy of which is attached hereto and made a part hereof as Plaintiff's Exhibit "C ". 17. Plaintiff hereby accelerates and declares the entire balance owed under the Note and mortgage to be immediately due and payable. 18. Defendant, 207 S.E. 6TH AVENUE, INC., owes Plaintiff the unpaid principal balance of ONE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($175,000.00), or the current balance thereof, plus all accrued interest thereon at the default rate under the Note and mortgage, late charges, together with title search expenses for ascertaining the necessary parties to this action and any and all other expenses with respect to the mortgaged property, all of which sums are secured by the lien of Plaintiff's mortgage. WHEREFORE, Plaintiff, CORAL COAST SAVINGS BANK, demands judgment against Defendant, 207 S.E. 6th AVENUE, INC., a Florida Corporation, for the principal sum of ONE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($175,000.00), or the current balance thereof, plus all accrued interest thereon, late charges, costs and reasonable attorney's fees, as well as such other and further relief as appears just, equitable and proper. Plaintiff further demands adjudication of its mortgage and that it is prior and superior to the right, title, interest or lien of any Defendants with respect to the property of this action; an accounting of the sums due under the promissory Note and mortgage, including the principal and accrued interest, all costs of the proceedings, tax, abstract or title expenses and reasonable attorneys' fees; judgment against Defendant, 207 S.E. 6TH AVENUE, INC., a Florida corporation and, if the sums are not paid within the time set by this Court, a direction that the encumbered property be sold to satisfy the judgment and, if the proceeds of the sale are insufficient to pay the judgment, that a deficiency judgment be entered against Defendants, 207 S.E. 6th AVENUE, INC., a Florida Corporation, and ROBERT J. DeHARDER for the sum remaining unpaid; and that the Defendant and its estate and all persons claiming under or against the Defendant since the filing of the Notice of Lis Pendens be hereby forever foreclosed. DATED: September 25, 1990 NEDKIMMELMAN, P.A. Attorney for Plaintiff Lake Wyman Plaza, Suite 157 2424 N. Federal Highway Boca Raton, Florida 33431 (407) 395 -8565 (407) 659 -9893 (Palm Beach) (305) 467 -6555 (Broward) NED'KIMMELMAN, ESQ. Florida Bar No. 268577 c \henuon \2o7comp.917 l ✓ 3 to Po egf- c -IP , �-c> eyern a L �7 v rS � >Sfm ' ! „C r o g f y 2E2.373 c 2. .4 11 SviE ,45Y 2 y E .„0- r. w1' S o - E e7 'it! y [ Y 2;4E2,, .e a 5 R: f'wc���7 cg o 2' G v G e• w. �• w s i.`y R o 70 ;Y n Y = E 5 s o `gT ;7^ X BYs N Iy ^ 2 p. s s • u1 75kr - WIIT3 n tunewe t'qi) Avd 013511%01U 5.113.1i01lA08 '1 V f EXHIBIT 9 3 R 9 2 S37/1VH.) kiV01 Whin) awb ISMOVI 00 nran .01 310\ 038.1)3S N21OiI \:1 '1t 1. OBUGATIO .S OF PERSONS L \DER THIS !COTE S3)11O\ !O D\1AM m 22 x Q f � 5.5 RE 2.; Oft c o x 'Th-71 I; 3 r w r o ;'9 ',poll ne\ ie iaari ON fa I ;YS R-60 rah: S = ; 3 R k E ; 5 atiKt- 6-71_ _xz -3_ ° ;i2 22.1- itt � ° w -E9 oq -q^ r Ea -. F.7/2't r k 2 gti a' a' tlovle0 1e ""e\ 1) ) 1-1« e • ▪ 0 n N C M ON Z r r • M N .4 b O . 70 s. < In H M H S ► Mtrl?[ b O M In mat .4 H N nca: C .▪ r► ►•t i C' 0 ► C 0• `qt O 10 •1 •4 M H O 0 t �f ► b n • P. vs•t SI NTO1 SIRS 1103 31111A I30NI SN388n3 3HI Ell'ilt °� K M k _ : 9 E ?Lii K lip ftf.pte vi 15.5t y 11• ihii L yx yi52 R . RH7-o t] • Z.. In C1ft -�V► O ,2,Ptt Erg 1 ° v oK .g S v.-- ,o R °O --aid 41 .i _ p • t �X2 §« IZ i175. F I; • Q 4. Fc «I s 1 S E![ t14 ri-Vi 1,i 'll EXHIBIT t 0. 3Dvo.LaoN ty ■.r «.r ry C0 rn ry ry 0) 1 l r NED KIMMELMAN LAW orriCE NED KIMMELMAN, P.A. LAKE WYMAN PLAZA 2424 NORTH r(OERAL HIGHWAY • SUITE 557 BOCA RATON, rLORIOA 33431 (407) 395-8565 PALM BEACH (407) 659• 9893 lfOwARO (305) 467.6555 August 15, 1990 VIA HAND DELIVERY and REGULAR MAIL 207 S.E. 6th Avenue, Inc. 2574 PGA Boulevard Suite 122 Palm Beach Gardens, Florida 33410 Re: NOTICE OF DEFAULT UNDER PROMISSORY NOTE AND MORTGAGE AGREEMENT PRINCIPAL BALANCE: $173,607.36 Gentlemen: fA■ (407) 395.2944 This law firm has been retained by Coral Coast Savings Bank to protect 'and pursue its-rights and remedies under a June 20, 1988 promissory note and mortgage agreement executed by you in its favor. Please be advised that you, are in default under the said promissory note and mortgage agreement by having failed to make successive monthly interest payments totaling $5,050.58. At this time, attorney's fees and costs incurred in connection with this matter are $200.00. As of today, the total sum currently due and owing, including late charges is $5,591.00. You may cure this default by paying the entire sum due, plus any per diem charges and other expenses to the day of payoff, to Coral Coast Savings Bank by no later than September 14, 1990. Failure to cure the default by September 14, 1990 may result in Coral Coast Savings Bank demanding and accelerating immediate payment in full of all sums secured by the mortgage agreement, without further demand. The bank may also then seek to foreclose the mortgage agreement and sell your property by judicial proceeding, wherein it shall be entitled to collect all expenses incurred in pursuing this matter, including, but not limited to, reasonable attorney's fees and costs of title evidence. In the f EXHIBIT 207 S.E. 6th Avenue, Inc. August 15, 1990 page 2 event of such an acceleration, you will have the right to reinstatement under the promissory note and mortgage agreement. In the event of a foreclosure proceeding, you will have the right to assert the non - existence of the default or any other defense you may have to such acceleration and foreclosure. PLEASE GOVERN YOURSELF ACCORDINGLY. Sinperely, ed Kimmelman NK /kmf cc: Rick Simmons Coral Coast Savings Bank c \ltr \Sh.n.on.S1S IN THE CIRCUIT COURT IN AND FOR THE NINETEENTH JUDICIAL CIRCUIT, OKEECHOBEE COUNTY, FLORIDA. CASE NO. 90- 755 -CA CORAL COAST SAVINGS BANK, FSB Plaintiff, -vs- CITY OF OKEECIOBEE, et . al . Defendant. • ANSWER COMES NOW the Defendant, City of Okeechobee, a municipal corporation, by and through undersigned counsel, and files this answer t the complaint herein, and states the following, to -wit: refendant is without knowledge to the facts and circumstances alleged in paragraphs one through eighteen, as well as twenty, and therefore denies same. 2. This Defendant admits the lien alleged in paragraph nineteen, but as no dates are alleged, or the type of service for which the Iien is imposed, must deny the lien is inferior to the mortgage herein. SUBMITTED this AO day of February, 1991. c".--'"YOU John R. Cook City Attorney 202 NW 5th Avenue Okeechobee, Florida 34972 (813)467 -0297 Florida Bar 262951 I HEREBY CERTIFY that a true copy of the foregoing has been furnished this day of February, 1991 by U.S. Mail to: Heller and Chames, P2, attorney for PIaintiff, 121 SE 1st Street Suite 600, Miami, Florida 33131. John R. Cook