EFTA00612460.pdf

CFN # 111210905, OR BK 49360 Page 1322, Page 1 of 13, Recorded 12/26/2012 at 03:32 PM, Broward County Commission, Doc M: $1452.50 Int. Tax $830.00 Deputy Clerk 3075 V After Recording Return Tor CAPITAL BANK, NA 12195 METRO PARKWAY 112 PT. MYERS, PI. 33966 This instrument was prepared by: CAPITAL BASK, 11.A. 12195 METRO PARKWAI, 12 PT. laza/3, Pt 33966 LOAN I, 74512007564 ISpaoo Above Inn, Lino for Roc ding Dstel MORTGAGE DEF1NMONS Words used in multiple sections of this document are defined below and other words arsdefined in Sections 3, 11. 13, 18, 20 end 21. Certain rules regarding the usage O1 words used in this document are also provided in Section 18. (A) 'Security Inatrurrianta means this document which is dated DECIDOIRR 19, 2012, together with all Riders to this document. (B)"Bonsmeersis BRADLEY EDWARDS AID TERESA EDWARDS, HUSBAND AND WIFE. Borrower is the mortgagor under this Security Instrument. (C)"Lesioels CAPITAL BANE, NA. Lender is a BANKING CORPORATION, FLORIDA. 12, PT. MYRRH, FL 33966. organized and existing under the laws of Lender's address Is 12195 Nemo PARKWAY Lender is the mortgagee under this Security Instrument. (0) 'NoSe" means the promissory note signed by Borrower and dated DICCIMBIR 19, 2012. The Note states that Borrower owes Lender FOUR HUNDRED FIFTEEN THOUSAND AID 10/100 Dollars (U.S. 5415,000.00 plus interest Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than JANUARY 1, 2043. (E) 'Property" means the property that is described below under the heading 'Transfer of Rights in the Property.' (F) "Loan' means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under rots Security Instrument plus interest. FLORIDA-Sings Family-Fannie M safroddk. Mee uMpOtim iwayRumety Rom tow 1 /01 Initials, % Onin• Docvmonts, Inc Page 1 of 9 FLUXED 1102 EFTA00612460 CFN # 111210905, OR BK 49360 PG 1323, Page 2 of 13 Uwe ii 74512007564 (G) "Riders" means all Riders to this Security Instrument that are executed by Bp-rower. The following Riders are to be executed by Borrower (cheek box as applicable): Adjustable Rate Rider rCondominium Rider 1i-3Second Home Rider Cl Balloon Rider = Planned Unit Development Rder COther(s) (specify) '-1 14 Family Rider =Biweekly Payment Rider V.A. Rider (H) "Amileable Law" means all contrcaing applicable federal, state and local statutes. regulations. ordinances and administrative rules and orders (that have the effect of law) as well as all appicable Anal, non-appealable judicial opinsans. (I) "Community Association Dues Fees, and Asessaments" means all dues. fees. assessments and other charges that are imposed on Borrower or the Property bye condominium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper Instrument, which is initiated through an electronic terminal, telephonic Instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such tens includes, but S not limited to. pointotsaki transfers, automated teller machine transactions. transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "Mlecollamous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the Coverages descnbed in Section 5) for (I) damage to. or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (N) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (18)"Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount duo for (i) principal and Interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (0) "RESPA' means the Real Estate Settlement Procedures Act (12 U.S.C. 32601 et seq.) and its implementing regulation. Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time. or any additional or successor legislation or regulation that governs the same subject matter. M used in this Security Instrument. "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan' even if the Loan does not qualrfy as a 'federally related mortgage loan' under RESPA. (P) "Successor In Interest of Borrower means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligabons under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrumentsecures to Lender: (lithe repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage. grant and convoy to Lender, the following described property located in the MITT [Typo ca Recording Julitattionl of Broward Nana, of Rooming Asiadlakor BIZ LEGAL ossc*IPTIOB ATTACTIZD HERETO AID MAD! A PART HEREOF AS BIBIBIT Tax ID di 504119010188 which currently has the address of 10141 SW 40 St. , Davie, Scowl [Cell Florida 33328 (Property Address'). in Code; TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements. appurte. minces, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the Property.' BORROWER 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 wiN defend generally the title to the Property against all claims and demands. subject to any encumbrances of record. 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. Initials, ,6e- FlORIDa-Snglo FarrarFanel• Matfreall., Mat UNWORN INSTRUMENT Penn solo 1,01 Oran* Doo,monta Ina Page 2 of 9 FluDEE0 nos EFTA00612461 CFN # 111210905, OR BK 49360 PG 1324, Page 3 of 13 EXHIBIT "A" The West 146 feet of the East 796 feet of that part of Block 4, of MARTHA BRIGHT FARMS, according to the plat thereof, as recorded in Plat Book 15, Page 16, of the Public Records of Broward County, Florida, lying South of the 50 foot canal reservations, less the South 2119 feet thereof. also known as Lot 58 of ROYAL PALM ESTATES (UNRECORDED) EFTA00612462 CFN # 111210905, OR BK 49360 PG 1325, Page 4 of 13 LOAN I1 74512007564 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of. and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shal be made in U.S. currency. However. if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lander unpaid, lender may require that any orals subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash: (b) money order: (c) certified check, bank check, treasurer's cheek or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency. Instrumentality, or entity: or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the n ot I e provisions In Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current. without waiver of any rights hereunder or prejudice to Its rights to refuse such payment or partial payments in the future, but Lender Is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date. then Lender need not pay interest on unveiled funds. Lender may hold such unapphed funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds Except as otherwise deserted in this Section 2, all payments accepted and applied by Lender shall be applied in the }okaying order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment In the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. h more than one Periodic Payment is outstanding. Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied test to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscelaneous Proceeds to principal due under the Note shal not extend or poetpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items, Borrower shal pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the 'Funds" to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security instrument as a lien or encumbrance on the Property: (b) leasehold payments or ground rents on the Property, If any: (e) premiums for any and all Insurance required by Lender under Section 5: and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called 'Escrow Items.' At origination or at any time during thetermof the Loan, Lender may require that Community Association Dues. Fees, and Assessments, If any, be escrowed by Borrower, and such duos, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lander waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to payto Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable. the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and. if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase 'covenant and agreement' is used in Section 9. If Borrower e obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower tails to pay the amount due for an Escrow Item. Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and. upon such revocation. Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time. collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not toexceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonableestimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency. instrumentality, or entity (Encluding Lender, if Lender is an institution whose deposits we so insured) or in any Federal Home Loan Bank. Lander shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lander shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account or verifying the Escrow !terns, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds. Lander shall not be requ red to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA PLORIDA-Sngl• Fainly-FsAnle Matfre001* Mac UNIFORM INSTRUMENT Form 3010 1.01 z(;(. ,( 11 °nine Dccurnerrta. Inc. Page 3 of 9 FLUDEE0 1102 EFTA00612463 CFN # 111210905, OR BK 49360 PG 1326, Page 5 of 13 LODZ Ii 74512007564 If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance wit RESPA. If there 4 a shortage of Funds held in escrow. as defined under RESPA. Lender shal notify Borrower as required by RESPA., and Borrower shall pay to Lender the amount necessary to make up the shortage in accordancewith RESPA, but in no morethan 12 monthly payrnents.ff Menai. &deficiency of Funds held in escrow, as defined under RESPA. Lender shall notify Borrower as required by RESPA, and Borrower Mal pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in lull of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lander. 4. Charges; Liana. Borrower shall pay all taxes, assessments, charges. fines. and impositions attributable to the Property which can attain priority over this Security Instrument. leasehold payments or ground rents on the Property. tally, end CommunityAssociation Dues, Fees, and Assessments, it any. Totheextentthatthese items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Secunty Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the hen in, legal proceedings which in Lander's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the ben 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 can attain priority over this Security Instrument, Lander may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given. Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 6. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by the, hazards included within the term 'extended coverage; and any other hazards including, but not limited to, earthquakes and floods. for which Lender requires insurance. This insurance shall be maittained in the amounts (including deductible keels) end for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a onetime charge for flood zone determination, certification and tracking services; or (b) a onetime charge for flood zone determination and certification services and subsequentcharges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. II Borrower fails to maintain any of the coverages descnbed above. Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower. Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liablity and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such poicies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an adchtronal loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. It Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property. such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender. shal be applied to restoration or repair of the Property, if therestoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall havethe right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shal be undertaken promptly. Lander may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be requred to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Dander'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 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. It Borrower abandons the Property, Lander may lee, negotiate and settle any available insurance claim and related matters. it Borrower does not respond within 90 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period wit begin when the notice is given. In either event, or if Lander acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lander FLORIDA-Smgl•Farney-Fincle MeoFroddlo Pin UNIFORM OWN WENT Form 30101/01 Initialat Orin• Dccurno-ts. Inc Page 4 of 9 FLUDEED 1102 fie EFTA00612464 CFN # 111210905, OR BK 49360 PG 1327, Page 6 of 13 LOPS I: 74512007544 (a) Borrower's rights to any Insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, end (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under al Insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shell occupy, establish, and use the Property as Borrower's principal residence within 60 days alter the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld. Of unless extenuating circumstances exist which are beyond Borrower's control. 7. Preaervetion, Maintenance and Protection of the Property; Inspections. Borrower shell not destroy. damage or impair the Property, allow the L.:piety to deteriorate or commit waste on the Properly. Whither or not Borrower is residing in the Property. Borrower shall maintain the Property in order to prevent the Property from deterioration or decreasing in value due to its condition. Unless It is determined pursuant to Section 5 that repair or restoration le not economically feasible. Borrower shall promptly repair the Property N damaged to avoid hither deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to. or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration In a single payment or in a series of progress payments as the work is completed. if the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligatMn for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. tit has reasonable cause. Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the tirne of or prior to such an interior inspection specifying such reasonable cause. B. Borrower's Loan Application. Borrower shall be in default If, during the Loan application process. Borrower or any persons or entitles acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (orfailed to provide Lender with material information) in connection with the Loan. Matenal representations include, but are not limited to. representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. fl (a) Borrower fails to perform the covenants and agreements contained In this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture. for enforcement of a lien which may attain prionty over th is Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then tender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security instrument; (b) appearing in court: and (c) paying reasonable attorneys' lees to protect Its Interest in the Property and/or rights under this Security instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes. but is not limited to, entering the Properly to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under the Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall beer interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. It this Security instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. Borrower shall not surrender the leasehold estate and interests herein convoyed or terminate or cancel the ground lease. Borrower shall not, without the express written consent of Lender, Whir or emend the ground Nese. If Borrower acquires fee title to the Property, the leasehold and the tee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. It for any reason, the Mortgage Insurance coverage required by Lander ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non- refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be nonrefundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be requited to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. if Lender required Mortgage Insurance as a condition of making the Loan end Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordancewith any written agreement between Borrower and Lender pending for such termination FLORIDA-Singl• Fan3N-Fervid MaTteddl• Mm UNIFORM INSTRUMENT Rum sole 1,01 InitialstO ge_ Onksi Document. In Page 5 of 9 FLUCEED 1102 EFTA00612465 CFN # 111210905, OR BK 49360 PG 1328, Page 7 of 13 LOAN II 1451200156a or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided In the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage Insurer to make payments using any source of funds that the mortgage insurer may have available (which may Include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity. or any affiliate of any of the foregoing, may receive (dived), or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer. the arrangement is often termed 'captive reinsurance.' Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agre•ments will not Increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - If any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may Include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and; or to receive • refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Properly is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Flu/sig. if the restoration or repair b economically feasibleand Lender's security is not lessened. During such repair and restoration period. Lender she' havetherigM to hold such Miscellaneous Proceeds until Lender hashed en opportunity to inspect such Property to ensurethework has been completed toLander's satisfaction, provided that suet, inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or is a series of progress payments as the work is completed. Unless an agreement is made in willing or Applicable law requires Interest to be paid on such Miscelaneous Proceeds, Lander stud not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economicaly losable or Lander's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due. with the excess. if any. paid to Borrower. Such Miscelaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Properly, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking. destruction. or loss in value of the Propertyinwhich the fair market value of the Properly immediately before the partial taking. destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking. destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied bythefollowing fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. My balance shall be paid to Borrower. In the event of a partial taking. destruction, or loss In value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking. destruction, or loss in value, unless Borrower and Lender otherwise agree in witting. the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. lithe Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers tomake an award toeing° a daimfor damages. Borrower fails to respond to Lender within 30days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Secunty Instrument, whether or not then due. "Opposing Party* means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in defaultif any action or proceeding, whether civil or criminal. is begun that, in Lender's Judgment, could result in forfeiture of the Properly or other material impairment of Lander's interest in the Property or rights under this Security Instrument. Borrower can cure such a default end. It acceleration has occurred, reinstate as provided in Section 19. by causing the action or proceeding to be dismissed with a ruling that. In Lender's judgment. precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender 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 Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower of any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or 10 FLORIDA—$Ingle FiliTi1/4 —Fannko MsEFrefal• Mac UNIFORM INSTRUMENT Form 3010 1)01 Initials, On rte Doeunwa Mc Page 6 of 9 FUMED 1102 Sol te e c EFTA00612466 CFN # 111210905, OR BK 49360 PG 1329, Page 8 of 13 LOSS Ili 74512007564 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 any Successors in Interest of Borrower. My forbearance by Lender in exercising any right or remedy including, without imitation, Lender's acceptance of payments from third persons, crimes or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Coeignere; Successors and Assigns Bound. Borrower covenants and agrees that Borrowers obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a 'co-signee): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer'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 can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 13 any Successor in Interest of Borrower veo assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain el of Borrower's rights and benefits under this Security Instrument Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shaft bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges-Lander may charge Borrower:fees for services performed in connection with Borrowers default for the purposeiolprdecting Lenders interestin the Property and rights underthis Security Instrument, inckicling, but not limited to. attorneys' fees, property inspection and valuation lees. In regard to any other fees, the absence of express authority in this Security instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. lithe Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges colected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shalt 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 kmits 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. IIa refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a wither of any right of action Borrower might have arising out of such overcharge. 16. Nodose. Ai notices given by Borrower or lender in connection with this Security Instrument must be in wilting. Any noticeto Borrower in connection with this Security instrument shat bedeemedtohave been given to Borrower when mailed by first class mail or when actualy delivered to Botrorser's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be tho Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender al Borrowerschangeof address. If Lender specifies a procedurekr reporting Borrowerschangeof address. then Borrower shat only report a change of address through that specified procedure. There may be only one designated noliciaddress under this Security instniment atanyonetime. Any nobcetoLendershal be given bydefnering rt or by mailing it by fist class mail to Lenders address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connectionwith this Seoznty InstrumentWel not be deemed to have been given to Lender until actu ally recerved by Lender. If any notice required by this Security Instrument is also required under Applicable Law. the Applicable Law requirement wi satisfy the corresponding requirement under this Security Instrument 16. Governing Law; Severablitly; Rules of Construction, This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. MI rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract 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 oft*, Notewhich can be given effect without the conflicting provision. As usedInthis Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the angular shall mean and include the plural and vice versa: and (c) the word 'may* gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument It Transfer of the Property or a Beneficial Interest In Borrower. As used in this Section 18. 'Interest in the Property' means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the Intent of which is the transfer of title by Borrower at a future date to a purchaser. If a/ or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower S not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender If such exercise is prohibited by Applicable taw. If Lender exercises this option. Lender shat) give Borrower notice of acceleration. The notice shall provide a period of not lees than 90 days from the date the notice is given in accordancewith Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrowers Right to Reinstate After Acceleration. it Borrower meets certain conditions. Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period fLORIDA-S.NO genet-none MsatmddIe Moo UNIFORM INSTRUMENT Fpm 3010 IAA Initials' Onin• Documents. Inc. FLUXED 1102 Page 7 of 9 EFTA00612467 CFN # 111210905, OR BK 49360 PG 1330, Page 9 of 13 LOAM tr 74512007564 as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security instrument. Those conditions are that Borrower: (a) pays Lender at sums which then would be due under this Security instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not hmited to. reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest In the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest In the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lander: (a) cash; (b) money order; (c) certified check, bank cheek, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency. instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and 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 Section 18. 20. Sale of Note; Change of Loan ServIcer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the 'Loan Servicer') that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note. this Secunty Instrument and Applicable Law. There also might be one or mare changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires In connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Service( other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Service( and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breeched any provision of. or any duty owed by reason of. this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a lime period which must elapse before caftan action can be taken, that lime period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a)"Hazardous Substances' are those substances defined as toxic or hazardous substances, pollutants. or wastes by Environmental Law and thefollowing substances: gasoline. kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde. and radioactive materials; (b) 'Environmental Law' means federal laws and laws of the Jurisdiction where the Properly is located that relate to health, safety or environmental protection: (c) 'Environmental Cleanup' Includes any response action, remedial action. or removal action, as defined in Environmental Law; and (d) an 'Environmental Condition' means a condition that can cause, contribute to. or otherwise trigger an Environmental Cleanup. Borrower shall not taws or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do. anything affecting the Property (a) at hs in violabon of any Environmental Law, (b) which creates an Environmental Condition or (c) which. due to the presence, use, or release of a Hazardous Substance, creates a cootie:in that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not snow to. hazardous substances in consumer products). Borrower shat promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party invohring the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition. including but not limited to. any spilling, leaking, discharge. release or threat of release of any Hazardous Substance, and (e) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower teams, or Is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary. Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lander shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement In this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify; (a) the default; (b) the action required to cure the default; (c) a date, not leas than 30 drys from the date the notice forgiven to Borrower, by which the default must be cured; and (d) that failure to cure the default on of 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 Properly. 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 FLORIDA—Single Farnir-Fanni Mu.'r.4d4 Mac UNIFORM INSTRUMENT Form 3010 1 01 Init l•loo Onlm• 0ccvrecla Inc Page 8 of 9 FLUDEED 02 /9 EFTA00612468 CFN # 111210905, OR BK 49360 PG 1331, Page 10 of 13 LOBS le 74512007561 and foreolthiat if the default le not owed on or before the date specified in the notice, Lander at he option may require Immediate payment in full of all ',urns secured by this Secretly Instrument without further demand end may foreclose this Beastly Instrument by Judicial proceeding. Lander shell be entitled to collect ell expenses Incurred In pursuing the remedies provided in this Section 22, Including, but not limbed to, reasonable attorneys' fees and code of Mk evidence. 21. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument Borrower shall pay any recordation costs. Lander may charge Borrower • fee for releasing this Security Instrument but only lithe fee is paid to a third party for services rendered and the charging of the tee is permitted under Applicable Law. 24. Attorneys' Feet M used in this Security Instrument and the Note, attorneys fees shall include those awarded by an appellate court and any attorneys fees incurred in a bankruptcy proceeding. 25. .My Trial Waiver. The Borrower hereby waives any right to a trial by jury in any action, proceeding, claim, or countercielm.whether In contract or tort, at taws in equity, arising out of or in anyway related to this Security Instrument or the Note. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security instrument and in any Rider executed by Borrower and recorded with It neigrwr-- i LtfA,e,taraN2/ 'reran Edwards 11-( 04 0-Cs5a4-1 State of FLORIDA Bradley Edwards uel e Pere *1) (Mal) (Seel) County of "2 k The foregoing instrument was acknowledged before see thist--1-4,- too/ cn- by Bradley Edwards AID T esa Edwards AID Manuel E Peres, is personally known to me or who has produced as !dent 1 ion. 11% MAUREEN BAIO.CARISON %elf/ MY COMMISSION EXPIRES Desabor 27.204 EE31617 /I Noun Dwain Assoc Co WW444OLuir Sigitaturee„. Title or Rank n iel7TP(Ter 14.,:o Curtin Serial Number, (if any) PLORICIA-Sepho Fang-Fsnalellawrisdele Mao UNIFORM INSTRIMIDIT Farm 3010 1 /0i Omni. Docurrea Inc Page 9 of 9 FLUIDEED 1102 EFTA00612469 CFN # 111210905, OR BR 49360 PG 1332, Page 11 of 13 LOAM It 74512007564 ADJUSTABLE RATE RIDER (LIBOR One-Yw Index (As Published In The Wall Street Journal-Rate Ceps) THIS ADJUSTABLE RATE RIDER is made this term day of DRUMMER, 2012, 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 CAPITAL WR, NA, A RANKING CORPORATION (the "Lender") of the same date and covering the property described in the Security Instrument and located at: total se 40 sc. Davie, FL 33320 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 BORROWER 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 3. 000t . 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 istr day of Jaunt, 2020, and on that day every 1770 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 average of interbank offered rates for one-year U.S. dollar-denominated deposits in the London market ("LIBOR*), as published in The Wall Street Journal. The most recent Index figure available as of the date 4.5 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 two AND 35/100 percentage point(s) ( 2.350% ) 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. Initials, MULTISTATE ADJUSTABLE RATE RIDER•WSJ °Refloat LIBOR-Song4 farnAlarelto Mao UNWORN INSTRUMENT form am SAM 0 74°I 4408 Orin DoeurtenN Mo Page 1 03 3 F3 itORDU 0806 /too EFTA00612470 CFN # 111210905, OR BR 49360 PG 1333, Page 12 of 13 LOAM I: 74512007564 (D)Llmlts on Interest Rats Changes The interest rate I am required to pay at the first Change Date will not be greater than 8. ex% or less than 4. soot. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than TWO percentage point(s) ( 2. 000t ) from the rate of interest I have been paying for the preceding 12 month(s). My interest rate will never be greater than 8.000%. (E) 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. (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 to 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 Section 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest In Borrower. As used in this Section 18, "Interest in the Property means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lenders prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option it (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 byApplicable 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 transf eree 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 this 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 given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. Initial., MULTISTATE ADJUSTABLE RATE RIDER-WSJ 004Year USONSogla Farnigannl• Mee UNIFORM INSTRUMENT Fors: SIN 4/07 0260'400e 044wOccumont Ifte Pegs 2 of 3 F3WORDU OWN EFTA00612471 CFN # 111210905, OR BK 49360 PG 1334, Page 13 of 13 Manuel B Pores LOAN to 74512007564 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. Bradley Edwards D t Lem oJavtid: -colt4/6wrif., )420112. Date Lire g__ Evot MULTISTATE ADJUSTABLE RATE RIDER-WSJ Onetime USOR-Engle Fenilyeanale Mee UNIFORM INSTRUMENT Fenn no Wel o 2C0i 4000 Online Documents, inc. Page 3 of 3 MMOROU 0006 EFTA00612472