**** CASE NUMBER: 502016CA009292XXXXMB Division: AW****

Filing# 45336573 E-Filed 08/17/2016 01 :20:29 PM

IN THE CIRCUIT COURT OF

THE FIFTEENTH JUDICIAL CIRCUIT
IN AND FOR PALM BEACH COUNTY, FLORIDA

CASE NO.:

DIVISION AW

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FIRST AMERICAN BANK, as
successor by merger to Bank of
Coral Gables, LLC,

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Plaintiff,

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V.

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LAURENCE S. SCHNEIDER,
STEPHANIE L. SCHNEIDER,
JEFFREY MARC HERMAN,
UNKNOWN TENANT #1, UNKNOWN
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TENANT #2 and THE
OAKS AT BOCA RATON PROPERTY
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OWNERS' ASSOCIATION, INC.,

Defendants.
______________/
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VERIFIED FORECLOSURE COMPLAINT

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Plaintiff, FIRST AMERICAN BANK, by and through its undersigned attorneys,

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hereby sues the Defendants, LAURENCE S. SCHNEIDER, STEPHANIE L.

SCHNEIDER, JEFFREY MARC HERMAN, UNKNOWN TENANT #1, UNKNOWN

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TENANT#2 and THE OAKS AT BOCA RATON PROPERTY OWNERS' ASSOCIATION,

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INC., and states as follows:

Jurisdiction/Parties

1. This is an action to foreclose a mortgage on residential real property located

in Palm Beach County, Florida.

FILED: PALM BEACH COUNTY, FL, SHARON R. BOCK, CLERK, 08/17/2016 01 :20:29 PM
 2. The Plaintiff, FIRST AMERICAN BANK, is an Illinois banking corporation

and has its principal place of business in Elk Grove Village, Illinois.

3. The Defendants, LAURENCE S. SCHNEIDER and STEPHANIE L.

SCHNEIDER, are sui juris, residents of Palm Beach County and, upon information and

belief, are husband and wife.

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4. JEFFREY MARC HERMAN is sui juris and, upon information and belief, is

the present tenant who occupies the residential property located at 17685 Circle Pond

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Court, Boca Raton, Florida 33496-1002, which property is the subject matter of this

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foreclosure action.

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5. UNKNOWN TENANT #1 and UNKNOWN TENANT #2 may be present

tenants who occupy the residential property located at 17685 Circle Pond Court, Boca
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Raton, Florida 33496-1002, which property is the subject matter of this foreclosure action.
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6. THE OAKS AT BOCA RATON PROPERTY OWNERS' ASSOCIATION,

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INC. is a Florida not-for-profit corporation existing and organized under the laws of the

State of Florida. THE OAKS AT BOCA RATON PROPERTY OWNERS' ASSOCIATION,

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INC. administers a residential real estate project known as Fox Hill Estates, which
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includes the residential property located at 17685 Circle Pond Court, Boca Raton, Florida
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33496-1002, which property is the subject matter of this foreclosure action.

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7. This Court has subject matter jurisdiction pursuant to Fla. Stat. § 26.012.
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The amount at issue in this action exceeds $15,000.00, exclusive of interest, costs and

attorneys' fees.

8. Venue is proper in Palm Beach County, Florida because the real property

subject to this foreclosure is located in Palm Beach County, Florida.

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 General Allegations

9. Defendants, LAURENCE S. SCHNEIDER and STEPHANIE L.

SCHNEIDER, are the fee simple owners of that residential property located at 17685

Circle Pond Court, Boca Raton, Florida 33496-1002 ("Property"). The legal description

of the Property is:

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"Lot 37 of the Fox Hill Estates of Boca Raton, according to the
Plat thereof, as recorded in Plat Book 87, Page 4, of the Public
Records of Palm Beach County, Florida."

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10. On July 28, 2006, the Defendant, LAURENCE S. SCHNEIDER, executed

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and delivered a Credit Agreement for a 10-year Home Equity Line of Credit (HELOC) with

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a credit limit of $1,500,000.00 and promised to pay any and all amounts borrowed from

the $1,500,000.00 Credit Agreement by making a single balloon payment on July 28,
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2016. A true and correct copy of the Credit Agreement, which constitutes the Promissory
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Note with respect to this credit transaction, is attached hereto and fully incorporated
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herein as Exhibit "A."

11. On July 28, 2006, the Defendants, LAURENCE S. SCHNEIDER and

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STEPHANIE L. SCHNEIDER, executed and delivered a Mortgage securing payment of

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the Credit Agreement (Exhibit "A") to FIRST AMERICAN BANK's predecessor in interest,
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Bank of Coral Gables. The Mortgage was recorded on July 31, 2006 in Official Records
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Book 20662 at Page 0250 of the Public Records of Palm Beach County, Florida. A true
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and correct copy of the Mortgage is attached hereto and fully incorporated herein as

Exhibit "B."

12. FIRST AMERICAN BANK is the entity entitled to enforce the Credit

Agreement and Mortgage under applicable law because of FIRST AMERICAN BANK's

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merger with Bank of Coral Gables, which merger was effective on December 5, 2014.

Plaintiff, FIRST AMERICAN BANK, is the holder of the original Credit Agreement and

Mortgage.

13. The Property which is the subject matter of this foreclosure action is now

owned by the Defendants, LAURENCE S. SCHNEIDER and STEPHANIE L.

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SCHNEIDER, who hold possession and who can exercise control over the Property.

14. The Defendant, LAURENCE S. SCHNEIDER, has defaulted under the

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Credit Agreement and Mortgage by failing to pay the monthly interest payment due on

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May 1, 2016 and all subsequent payments.

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15. The Defendant, LAURENCE S. SCHNEIDER, defaulted under the Credit

Agreement and Mortgage by failing to pay the Florida Ad Valorem/real property taxes on
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the Property for 2014 and 2015, despite a demand made on him by FIRST AMERICAN
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BANK to pay those real property taxes by no later than April 1, 2016.
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16. The Defendant, STEPHANIE L. SCHNEIDER, defaulted under the

Mortgage by failing to pay the Florida Ad Valorem/real property taxes on the Property for
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2014 and 2015.

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17. On or about March 31, 2016, in order to protect its security on the Property
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being foreclosed herein, FIRST AMERICAN BANK advanced and paid Ad Valorem/real
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property taxes for 2014 and 2015 in the amount of $46,148.17. FIRST AMERICAN BANK
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may be required to make further and additional advances during the pendency of this

action to continue to preserve its security in the Property. Any and all such sums paid, or

paid in the future, are due and owing to FIRST AMERICAN BANK from the Defendant,

LAURENCE S. SCHNEIDER.

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 18. The Plaintiff, FIRST AMERICAN BANK, declares the full amount payable

under the Credit Agreement to be due because of (a) the Defendants, LAURENCE S.

SCHNEIDER and STEPHANIE L. SCHNEIDER's, failure to pay the Florida real property

taxes on the Property being foreclosed by April 1, 2016, (b) the Defendant, LAU REN CE

S. SCHNEIDER's, failure to make the monthly payment due on May 1, 2016 and all

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subsequent payments and (c) the Defendant, LAURENCE S. SCHNEIDER's, failure to

pay the entire principal balloon balance which became due on July 28, 2016.

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19. The Defendant, LAURENCE S. SCHNEIDER, owes the Plaintiff, FIRST

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AMERICAN BANK, $1,488,748.05 in principal which was borrowed under the Credit

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Agreement, interest on the unpaid principal amount from May 1, 2016, real estate

property taxes for the calendar years 2014 and 2015 in the amount of $46,148.17 and
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title search expenses incurred to ascertain the necessary parties to this foreclosure
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action.
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20. First American Bank has retained the law firm of Keller & Bolz, LLP to

represent it in this matter and is obligated to pay reasonable fees for services (including
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fees of attorneys and other professionals), expenses and costs. FIRST AMERICAN
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BANK is entitled to recover its attorneys' fees, expenses and costs for prosecuting this
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claim in accordance with the terms and conditions of both the Credit Agreement (Exhibit
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"A") and the Mortgage (Exhibit "B").

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COUNT I - FORECLOSURE OF MORTGAGE

21. FIRST AMERICAN BANK readopts and re-alleges the allegations of

Paragraphs 1 through 20, above, as if fully set forth herein.

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 22. This is an action to foreclose a mortgage on residential real property located

in Palm Beach County, Florida and for other incidental relief.

23. The Defendants, LAURENCE S. SCHNEIDER and STEPHANIE L.

SCHNEIDER, have failed to cure the defaults under the Credit Agreement and Mortgage

as described in Paragraphs 14, 15, 16 and 18, above.

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24. The Defendants, JEFFREY MARC HERMAN, UNKNOWN TENANT#1 and

UNKNOWN TENANT #2, may claim or have some interest in or lien or claim upon the

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Property being foreclosed by virtue of an unrecorded Lease and/or their status as tenants

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in possession of the Property being foreclosed, but any such interest, lien or claim is

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subject to, subordinate and inferior to the right, title, interest and lien arising from FIRST

AMERICAN BANK's Mortgage (Exhibit "B") which is being foreclosed herein.

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25. The Defendant, THE OAKS AT BOCA RATON PROPERTY OWNERS'
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ASSOCIATION, INC., may claim or have some interest in or lien or claim upon the
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Property being foreclosed by virtue of an unrecorded lien and/or its status as the

administrator of the Fox Hill Estates, which includes the Property being foreclosed, but
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any such interest, lien or claim is subject to, subordinate and inferior to the right, title,
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interest and lien arising from FIRST AMERICAN BANK's Mortgage (Exhibit "B") which is
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being foreclosed herein.

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26. Any interest in the Property claimed by any of the Defendants is subject,
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subordinate and inferior to the lien held by FIRST AMERICAN BANK pursuant to the

Mortgage (Exhibit "B") held by FIRST AMERICAN BANK.

27. All conditions precedent to the acceleration of this Mortgage and the

foreclosure of the Mortgage have been fulfilled and have occurred.

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 WHEREFORE, the Plaintiff, FIRST AMERICAN BANK, respectfully requests this

Court to:

a) Adjudicate that FIRST AMERICAN BANK has a lien on the Property that is

superior to the rights of all named Defendants and all persons claiming by,

through or under the Defendants for the amount adjudged to be due from

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LAURENCE S. SCHNEIDER and STEPHANIE L. SCHNEIDER including the

entire outstanding principal balance, accrued and unpaid interest thereon at the

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rate permitted in the Credit Agreement and Mortgage, real property taxes, any

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escrow amounts required under the terms of the Credit Agreement and

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Mortgage, accumulated late fees required under the terms of the Credit

Agreement and Mortgage, reasonable attorneys' fees, court costs and

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expenses, title search expenses and any and all other costs or expenses that
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may be advanced or incurred by FIRST AMERICAN BANK during the

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pendency of this foreclosure litigation necessary to protect the security of

FIRST AMERICAN BANK's lien, together with interest thereon;

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b) Enter Final Judgment foreclosing the Mortgage dated July 28, 2006 and
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determine that the rights, title and interest of any Defendant named herein or
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hereinafter made a Defendant (or any party claiming by, through, under or
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against any Defendant) by forever barred and foreclosed;

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c) Direct the Clerk of the Court to sell the Property which is the subject matter of

this foreclosure to satisfy FIRST AMERICAN BANK's Mortgage lien in

accordance with the provisions of Fla. Stat. §45.031;

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 d) Establish, if the proceeds of the sale of the Property being foreclosed are

insufficient to pay FIRST AMERICAN BANK's claim, a Deficiency Judgment

against the Defendant, LAURENCE S. SCHNEIDER, unless that individual has

been discharged from liability under the attached Credit Agreement and

Mortgage pursuant to the provisions of the United States Bankruptcy Code (11

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U.S.C. §101, et seq.);

e) Appoint a Receiver for the Property being foreclosed to preserve the property

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and to obtain rents, issues, income and profits in accordance with Fla. Stat.

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§697.07; and

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f) Retain jurisdiction of this action to make any and all further Orders and

Judgments as may be necessary and proper, including the issuance of a Writ

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of Possession and the entry of a Deficiency Judgment Decree.
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COUNT II - BREACH OF CONTRACT AGAINST

LAURENCE S. SCHNEIDER
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28. FIRST AMERICAN BANK readopts and realleges the allegations of

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Paragraphs 1 through 20, above, as if fully set forth herein.

29. This is an action for damages arising from the breach of a HELOC Credit
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Agreement (Exhibit "A").

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30. The Defendant, LAURENCE S. SCHNEIDER, has defaulted under the

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terms of the Credit Agreement by his failure to pay the installment payment due on May
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1, 2016 and all subsequent payments, his failure to pay the Florida Ad Valorem/Real

Property taxes on the Property being foreclosed by April 1, 2016 and by his failure to

make the balloon payment due on July 28, 2016.

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 31. In accordance with the terms of the Credit Agreement (Exhibit "A"), Plaintiff,

FIRST AMERICAN BANK, has accelerated all amounts due and owing under the Credit

Agreement.

32. LAURENCE S. SCHNEIDER's breaches and defaults set forth above are

material in nature.

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33. FIRST AMERICAN BANK has been damaged as a direct result of

LAURENCE S. SCHNEIDER's material breaches and defaults and thus FIRST

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AMERICAN BANK is entitled to a money judgment against LAURENCE S. SCHNEIDER

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for the unpaid principal of $1,488,748.05, unpaid real estate property taxes due for the

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calendar years 2014 and 2015 in the amount of $46,148.17, all accrued and unpaid

interest on the unpaid principal balance at the rate permitted in the Credit Agreement, late
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fees along with any and all escrow amounts, expenses that have been incurred by FIRST
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AMERICAN BANK, title search expenses, costs and reasonable attorneys' fees.
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WHEREFORE, the Plaintiff FIRST AMERICAN BANK respectfully requests this

Court to enter final judgment against the Defendant LAURENCE S. SCHNEIDER for
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$1,488,748.05 in unpaid principal, interest thereon, unpaid real estate property taxes due
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for the calendar years 2014 and 2015 in the amount of $46,148.17, along with any and
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all escrow amounts, expenses that have been incurred by FIRST AMERICAN BANK, title
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search expenses, expenses, costs and reasonable attorneys' fees and that the Court
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award such further and other relief as the Court determines to be necessary and

appropriate under the circumstances.

DATED this 17th day of August, 2016.

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 Respectfully submitted,

KELLER & BOLZ, LLP

Attorneys for FIRST AMERICAN BANK
121 Majorca Avenue, Suite 200
Coral Gables, FL 33134
Telephone: (305) 529-8500
Telefax: (305) 529-0228
Email: [email protected]

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By: s/Henrv H. Bolz, /II

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Henry H. Bolz, Ill
Florida Bar No. 260071

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VERIFICATION

Under penalty of perjury, I declare I have read the foregoing Foreclosure Complaint
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and the facts alleged therein are true and correct to the best of my knowledge and belief.
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FIRST AMERICAN BANK

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~ Senior Vice President

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Collections Manager
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CERTIFICATION OF POSSESSION OF ORIGINAL NOTE

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The undersigned hereby certifies:

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1. That FIRST AMERICAN BANK is in possession of the original Credit

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Agreement (promissory note) upon which this action is brought.

2. That the location of the original Credit Agreement (promissory note) is

FIRST AMERICAN BANK's Headquarters which are located at 1650 Louis_ Avenue, Elk

Grove Village, Illinois 60007.

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 3. The name and title of the person giving this certification is Garry S. Smith

who is the Senior Vice President and Collections Manager of FIRST AMERICAN BANK.

4. The name of the person who personally verified such possession is James

Berton, Esquire, Vice President Associate General Counsel.

5. The time and date on which possession was verified was July 26, 2016 at

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11:16 am (CST).

6. Correct copies of the Credit Agreement (promissory note) and all applicable

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Endorsements, Transfers or Assignments are attached to this certification.

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7. I give this statement based on my personal knowledge.

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Under penalties of perjury, I declare that I have read the foregoing Certification of

Possession of Original Note and that the facts stated therein are true.
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EXECUTED on this /7'_# day of August, 2016.
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FIRST AMERICAN BANK

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B\I· ~~ _d
4_ .$''?
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Senior Vice President

Collections Manager
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STATE OF ILLINOIS
: ss
COUNTY OF DUPAGE

BEFORE ME, the undersigned authority, appeared Garry S. Smith, who A

personally known to me or_ produced identification and acknowledged that he executed

the foregoing instrument for the purposes expressed therein and who did take an oath.

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WITNESS my hand and seal in the State and County aforesaid this /~;day of

August, 2016.

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·OFFICIAL SEAL

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. JOSEPH MRESLER Notary Pu ·1c, State of Illinois at Large
NOTARY PUBLIC- STATE OF ILLINOIS
MY COMMISSION EXPIRES:10/19/18 FI Print Name: ,k. /al
Commission Expires: _ £_/J__
__,___,/Ot,.....ft..,..
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. . . . l

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CREDIT AGREEMENT

-Borrower: Laurence Schnelder Bonk of Corol Gobles

172.1 NE 190 Terr11ceh Lending Division
l\illomi, FL 33179 95 Merrick Way·
Sulla 106,
Corot Gables, FL, 33134-'
(3051 500-9601
,·
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·• D~TE m= AGREEME~'f: July.28_~ 2006
Introduction. 7his Crodlt/.areerilent l"Agreeinent"J governs your line pf credit (tho '•credit Line" or tho "Credit Line _Account"I issuod'thrauoh

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Bonk of Coral Gnbles,. In this Agrocment, the words "Borrower/ •you,• "your," and qApp!icent" nic11n each ·and everv person who signs thls,
Agreement, includlng oil Borrowers named abovo, The words ·"Wa,"·"us," "our,• end "Landor" moan Bonk of Coral Gablo·s; :you agree to the,
following torms and conditions:. ·· · ·· 1· · · · · · · · · · · ·• ·
.· Promise to Pay, · You promise to pay Bank of Coral Gobles, or order, tho totai or all credit advances and 'FINANCE CHARGES, together with all
or.
costs ond expc_nscs for which you arc responsiblo under this Agreement under tho "Mortgage" ·which so cures your Credit U110, You pay , will

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your. Crecfit-1.ine according to the payment terms set forth below;· If tharo is niore thari oriii, Borrower, each is jointly and severally liable on 1his
:Agroemont. 'Thls moans wo c:m roquiro any Borrower to pay all amounts due. under this :Agreement, including credit advances made to :my
Borrower. Each Borroweniuthorlzes :my other Bor,owor, on his or her signature alone, to t:nncel the Credit Lino, to request and tecol11e credit

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, ad11ances, and to do eUiitherthTrigs necessary to carry outthe terms of this Agreement, Y'{P can release any_Borrower,frcim responslbllity un~ar ·
thls·Agrcement; and the others will remain rosponsible,. 1 :

Term·. Tho tlirm of your Credit. Une wnniogin as ofthe date or this Agreement l"OP.1ining, Doto") ond \viii ccinllnUiJ i.Jntll July 28, 2016

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("Maturity !)ate~). All indo~todriess under "this Agreement; If not already paid pursuant _to th11 payment provisions below, \Viii Ile due a·nd ·
payable upon maturity,. The draw period or your. Credit Line wlll begin on a date~ after the OpDnlng Dato, when thEi Agreement is ni:cDptod by: us
·inthe State· of Florida, following tho expiration of the right to cancel, tho perfoctlon of tho- Mortgagll,'thii receipt of all required .riorllficates of
·nonc,mcollaticin, ond "tho mooting of all of our"othi:t conditlons·and wlll:contlnuo as follows:· term of.tho loon. -You may obtain crodlt lldVllOCOS
during this period ('.'Drow Period~). You ogroo that we may renew or extend the perlocl during· which you may obtain credit advances or make
.p"ayments•. You •further agree that WO may renew· or extend your Chidit Line Account: . : . . . . . . ..
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- - .. - " . . .. . - . , . ' - . ! :
Minimum _Paymont, Your "Aeilulnr Payment• will equal the amount" of. your• accrued flNANCE CHAJtGES. · You wlll make 119 of those
payments, You will than bo roquirod to poy tho entire balance owina In e sinale ball90n payment. II you make only tho minimum p:iymcnts, you
may not repay any of tho_ principal bal_anco by tlie end of this payment ~tri:am, Your payments will be due monthly • .Your wM!nimurrr Payment'.
will be the Regular. Payment, plus any_ amount duo :ind all other charo2s, An increase in tho ANNUAL PERCENTAGE RATE may Increase _the
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amount of your Regular Paymont. You .igroo to pay not less thon tho Minimum P.iymontlon or bofoto tho duo dote Indicated on your periodic
, bllling·statement. !. . .
• . r . . .
Balloon Payment, Your Cr~dit Linc: Account is payable.In full upon maturity in a single b11lloon payment, 'You must pay tha untlro outstanding
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prlnclpal, Interest and any other charges then due, - Unlesi: Qtherwise required by nppITcoble law, we ere under no o~ligation to rennanco the
balloon ·payment .it th:it time, You may be required to m~ke payments out of other :issets you ·own or find a lender, whic'1 may be us, willing to
lend you·thci mon·ey, If you rofinance t'1c balloon, you may hove'1o pay some or all of the closing costs normally associated with a new credit
llno occolint, oven lfyou obtain refinnncing Jrom us. . • ,. .
How y~~r P.iymenti:; Aro Applied, !]nioss othorwisa' aiiroed or required by llpplicoblo "law, payments and ot~Df CfDdits' \\'HI bo appUed ta
Payments wlll bo applied In tho followma order: Interest, Prlnclp.il; Lote Feos & Collectlon Costs, · ··
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Receipt of Payment~~ All;p.iymonts: must bo mild~ by II chock; out~in.itld" account debit, olactronio funds tronsfo_r, '!fOnev order, or oth ~r
Instrument In U,S, dollars1 end must be received by us at tho remittanco address i.hown.on your poriodla bitnng statomont; Poymants roceiyod
at that address prior to· 2:00 p;m, Eastern Standard Time on any business do·y will b"e credited to ,your Credit Lino as of'lhe date rece!Vod, If We
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rcccivo payments nt other locations, such payments will bll credited promptly to your Crodlt Lino, but crediting may bo delayed for up to fi,)e 16} ·
days ofter receipt. · . · · · · . · · I '
. , . _. . . . . .. . . ·I·: .• I
Credit Limit, This Agreement covers o revolving llniJ of credit for th·o prlnclpol amount of One Milllon Five Hundred ThoUSllnd & 00/100 Dollar3
[$1,600,000,00),. which will be your •credit Llnilt" undor this Agraejnont, During the Qraw Period we will honor your request for credit
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ad-lances subject to the :.ei:lion·below. on lender's Rights, .You· m.iy botrow against tho Creclit Lino; repay any portion bf the amourit borrowed,
iind ro-borrow up to tho amount of the Credit Limit, -Y-our-Gredlt-t:lmit ts -thD maximum amount you may havo outs tending 11t 11ny ono time, You
11gree not to attempt, request, or obtain a credit advance that will mako:yout Crodit Lino At:count bulancc exceed your Credit Umlt, Your Credit
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Limit will not_ bo lncreosod s~ould _you ollordrow your Credit Lino Account, If yo_ u exco.ed your Cro.dlt Umlt, ·yo1;1 agree_ to_ ropoy lmmod_lately 1he
., amount by which -r:our Credit Line Account exceeds. your Credit Urn1t, oycn If wii have not Y<?t bllled_ you, Any credit 11dvnncos In o~cess of your·
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Credit Limit wm not be sccurad by the Mortoeoa coverlno your prlnc1pal ~wellino.. ; ·
Charges to YQUr Credit Lino, Wo may cha;go your Criidlt Lino to pay other feei and cost~ that you ere obligated to pay under this. Agreement,
or
tho Moitgogo oriy ·other document rel&1tcd to your Crodlt Llne; In addition, wo may cho"roo your Credit Lino· for funds roqulrad. for-continuing
Insurance coverage os described In tho pnragreph tltled "lrisurencil" below or as doscrlliod In tho Mortgago for this transaction, Wo lriay also; nt
. our option, charge your Crodlt Uno to pay any costs or. oxpcnsosJo proJcct_or perfect our security Interest i!l your prlnclpal d~oll!ng, Th~se
. costs or oxponses includo, without l!mitatlon, pa·yments to cure defaults under any existing lions on your principal dwelllng,. If you do not pay
yciur property taxes, wo may charge.your Credit.Lino and.pay the delinquent taxes, .Any amount so charged to your Credit Llna.wlll boa crodlt
advani:o .fnd will docronso tho funds ,evoll&1blc, If any, undor the Credit Line. Howoiter,1 we have no obligation to provide eny of tho credit
.advances referred to In this paragraph, • · · •· · · l' ··· ·
Credit Advances. "Aftor the Effective Disbursement Date or this Anrccment, ·you may obtalh crodlt a~vancos under your Credit Uno as follows:
C . • ' • • • • . • . I.. • . .
. • • •

Credit tine Chocks. Writing a proprintod "Homo Equity Lino of Crodlt~C_hock" that'Wo wJII supply lo you,
_-R~_sts By MaU, Requesting on odvllnca by irioli,: _ ._ _ __ .
~~uests.in Person,. Raql.iestlng o credit advance In _pe_rson ot any of our authorized looatlons,
¼~tef-ff(" Request, 'f\dvonc~ requosls c~n olso ~o sont vi~ f~x, ,
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. ,;

',,
Exhibit "A"
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CREDIT AGREEMENT
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Loan'No: (Co11Jinued) 'i _page 2'
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If there is more than one person authorized-to use this Crod[t Unc Account, you agre~ not ·to give Lis conflicting rnstructlons, su'?h es one
·Borrower tolling us not to give advances to tho other. · ! Ij · ~ ·
l(mitatiom:
•
on 1ho Us11 of
.
Checks. Wo. reso,v~ the right. not ••to honor
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HJmo
:
Equity Uno of !:redlt
r
Chucks
.
In tho fo!Jowln~
.
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clrcumsfuncos:
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Credit Umtt Violation. Your Credit Limit has been or v,,ould bu Excoodod by paying th~ Homo Equity Lino of Credit Chock,
,,
Post-dated Checks.· Your Homo.Equity Uno of Credit Chock Is post-datod. If a post-i:ratcid Homa Equity Lino of Criii!it Chock Is paid and as
! c1 result any othor chock ls rotornod or not paid, wo are not rcspon~lblo; · ;. : · · ·
Stolcn_Check·s-. Your Homo Equity Uno of Credit Checks havo boon reported lost or.sjolon,
Unauthoriz_ed Signatures. Your Home Equity Lino of Credit Chock 1;3 notslgried by sn-~Authorlzed Signor" as deflnodbalow,
Termination or Susponslon. ·Your Crodlt Lino h113 been tormlnotcd or suspended as provided In this Agroomant o·r could bo If vvc paid tho
Homo Equity Lino of Credit Check. • . . . ; . . • - .. .
Trons11ctlon Vloletlon. Your Home,EqultyUne of.Credit Check ls·iess than tho nilnhnum.omount required by ihts:Agroemont you aro In er
violation of any other transaction requirement or would bo If we paJd tho Homa Equitv. ~lne of Credil Check: , ·

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if wii pay any Home Equity Uno of Credit Chock under these condition;,· you inustropayi ~s, subject to applicable law;, for tho amount of the
Haine Equity •Lino. o( Crodlt. Choi:k, Tho. Homo Equity Line ·of Credit Check Itself wll~ be evidence of your debt to us to gather with this
Agreement,•. Our llability, If any, f<?rwiongful dishonor of o chock Is llmlted i:o your octual ifamagas•. Dishonor ror any roason as provided In this
Agreement ls not wrongful dishonor, We may·choase not to return Home Equit'i Linei•or Credit Checks illono with your periodic billing
statomontsi howevor, your Lise of each Home Equity Uno of Croilit Check ·will ho roflectod 011 your porlodlc statement as a c1edlt'advanco, ··we

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do not "ccnify'~ Home ~qiilty ~Ina o! Credit Checks·dr~wn on your Credit Lini:i.. . . . . .· .. ' . .• . '• . . . . .
.Tronsoctio11 Rcquirell!ents.' Tile followlng transaction llrnltatlons will opply to the uso_of,your Credit Lino:

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Roquest By Mail, In Person Request, fo,c Request n~d Credlt'line Home Equity ·une or Credit Check Limitations, Tho following transaction.
limltations will upp!y to your Credit Line and requesting an advance by mail, roquostlrig a11 advanco In person, accessing by other methods
· and ~ho writing of Homo Equity Lino of Credit Chci:ks. 1 •· ·
Mi~lmum Advan~e Amount~ Tho minimum amount of any c~odit ndvanco tliat can ba. mado on your Crodft Uno is $300,00, This

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moa.ns any Home Equity Line or Credit Check must be written for at least the minimum advance dmount, · ·
Au_thorlz~d Signors. ·Tho w~rds "Au~horlzcd Signer" (!n Home Equity Une of Credit Check~ es u;ed In thl~ Agrooment moan and lnclud~ ooch
person who·•(a) signs the appUcatlon ror this Credit Uno,· [b) sl11ns this Agreement, or lc)1 ~as exocutod a separate signature authorization card-
. for the Credit Line Account.· . · ' .· ·· . I _ ij . · ·.. : . · · .
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Lost H~me Equity Linc or· credit Ch:cks. tr yot.i lose your Horne Eqult~ Uno ff Credit Fhecks or If somcono Is Using them wlthoilfyour'
permission; you aoree to lot _us kno"V 1mmedlately. The fastest.way to•not,fy us 1s by colling us at 13(?5) 500-9501, YC?U also can notl_fy us 11t
B.an~ of Co_ral G_ables s.~ Mer.rick Woy,_ ~ulto , 06,, Co.rel. Gab_l~s, FL 33134_; 1 • • · ·

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future Cradit Line Services •. Your application for this Credit Line 111s0 serves as ii request receivo any now services (such es access ilov!cos)
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which may bo evallablo at some .future time as ono of our sorviciit ln)connoction with thfs Credit lino, You understand that this roquost Is
voluntary end that you mey refuse any of ilieso now services at the tfmo they arc offered, 1Yoururthor tmdorstend thet tha terms and conditions
of t_hls ·Agri:~mcnt will govo~n tiny transactions made pursuant to any of those new· services. . . . r•.
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Collateral. You acknowledge this Agreement is secured by the following collatefill described In tho securlty:Jnstrument listed herein: an
Open-End Mortgage doted J~ly 2~, :moe, to us on real prope~y lo~atnd iri Palm Beach County, State of Florido, ..
·Insurance. Yciu must obtain lnstirance on tho Property _securing this Aaroorriont that is reasonably ~.itlsfactory to us, You may obtain pr:oporty ·
lnsi.rrance·lhrcugh any coinpeny of your choice that Is rcaso~ably satlsfoctoiy to us,. You fiavo tho option or providing any insuronce required.
under this Agreement through on existing policy or a policy lndepandohtly obtained and P.ald for by you, subjact to bur right, for. rtiosonoble
, i:auso before credit'ls'_extended, to docllne rioy Insurance provided by_ you, Subfect to opp(lcable law, if you foil Jo obtain or maintain l~surance
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~sroquirod In tho Mortgage, WO maypurchasc lrisvriince to protect.our own.lritcrost, ad.d 1he.promlum to your balance, puisuii any other·
· remadlos avallablo to us, or do any one or more of these things; · I• · ,
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Right. or Sotoff. To. tho oxtent permitted by ~ppllcable law, we ·,osorve ii right of setoff In your nccounts with us lwhbitier checking, sovings,,
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or some other occount), lncludlng without limitation, 1111 accountc you may ·open In tho future:- However, this does not. include any IRA or Keogh
accounts, or. any trust accounts for which satoff. would bo prohlbltod by, law, You authorize tis; to the exton; permiU,od by applicable law, to
charge or setofr,all sums owing on.this Agreement against any and ell such aceounts;.and, at our optlon,·to administratively freozo all such
accounts1o allow us to protect our.charge and setolf rights providod in this paragraph;.· · · ·· · · ' '
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P~riadic•state~cnts-. · If yo~ ·have a bDianca ~wl~g on y~ur Cr~dlt Lin~ Account or hav~ nnp1ccount uctlvity, wo ~Ill send you a poriodlc
statement, It will'shciw, among other things,. credit advances, FINA,NCE CHARGES, other chargas, payments mado, other. credits, .your
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"Previotis · Bnhinco,H and your "New Balance," . Your statement nlso will Identify tho Minimum Paymen~ you must moko for that bllllng period
and tho data It ls due. · · · ;, · · ' ·
• When RNANCE CHARGES Begin to Accrue, Porlodic FINANCE CHARGE!:; for crodlt advan~e;i under your Credit Lino Will begin lo accrue on the
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. dnt_e credit adviinces are· postod to your Credit Line, There Is no "free ride period'' which wolJld allow you to· avoid a FINANCE CHARGE on your
Credit line credit advani:os, . . . . • . i l . .. I .
. . • . . . . • t . . • . . -
M~thed U::~d to Dctcr"'!ine the Balon cc on .Which the FINANCE CHARG~ _WIii Be Compute~.: A dally FINANCE CHARG!,: WIii _bi! Imposed oii all
credit .advances made under your Credit Line Imposed from the· date or each credit advance· based on the "dolly balanc;a• method, ·ro got the
doily ~alancc, wo toke tho beginning balanc,:·o _of your Credit Lina Account.each day, odd anv, ~ew a~vances__ilnd subtract any paym~nts or crf!~lts_.
and any unpaid FINANCE CHARGES. This gives us the "dally balarico." .
Method of Dctermlnl~g the Amount or FINANCE CHARGE. Any FINANCE CHARGE is doterhiined by applying tho "Periodic Rate" to tho balance,
doscrlbod herein, . Thon we add together the periodic FINANCE CHARGES for each day In .the· billing cycle, This i:( your. FINANC_E CHAllGI:'·
•colculated by applying ll Periodic Rate. • .:
You also agree to pay FINANCE CHARGES, not calculated by appiylng ii Periodic Rate, as sat forth below: ;
· . · ' · I · · I . . . . . . ..

·• , P.ddlllonal Finance Charges. The followlng ~ddltlonal FINANCE CHARGES will bo i:har(fed to.your Credit Lino or paid In mh:.
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Underwriting to Bank of Coral Gables: ...
• In Cilsh $300.00

I· ' Sc~
By
·;te_-
.&tocessing· Fee io Bank. of Coral
e'1 n
Gabll!S: · ·
:
.I• .
~ In Casti
j~
t175,00 i
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·i:• ,; - ·•-·-·-·

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,... ; . CREDIT AGREEMENT . ,
•• I Lo~n'No: - (Continued) . - -~age 3

_ . Tax Service to First American: . · In Cach *170.00 : .

Periodic Rate and Corresponding ANNUAL PERCENTAGE RATE, We will dctermlnal tho Periodic Rote and tho correspondina ANNUAL
, PERCENTAGE RATE BS follows. wa-start \liith 110 indopondont Index which Is tho Well Stfeet Journal Prime A11to (tho "lndox"I, We wm USO tho
most recent Index value available to us as of tho dato_cf any ANNUAL PERCENTAGE: RP.TE adjustment, Tho Index ls riot necosserlly 1he lowest
rote. charged_ by us ~n_ ll_u,r loans, If tho Index bec1:1111es Un_ov.iDablo during the .1erm _of this ,Credit Lino Account, we may doG!gnato a cubstltuto
:l11do)( ertor. notice to you. To dctcrmlns tho Periodic Raio that wlll apply to your account, wo toke the Vplue cf. tho Index, round that to. the
noarost, 0, 126%, lh?n divide tho rounded value by the number cf days l_ri a yoar (dally!, Ti> obtain tho ANNUAL:. PERCENTAGE RATE we multiply
tho Penodlo Rate by the number or doys In a yeat (daily). This result Is tho ANNUAL PERdENTAGE RATE. Tho ANNUAL PERCENTAGE RATE.
Includes only interest .ind no other costs, · ! I ·· !
as
Tl}o Periodic Rote and ihc corrcspc.ndirig ANNUAL PERCENTAGE RATE on your Credit Lind.wlll lni:raase ~r docioaso tho Index lncroases or
ddcroasos frorn time to time; Adjustmonls tci the Periodic Rate end the corresponding At:JNUAL PERCENTAGE RATE tosilltlng froin changos In
the lridox will take effect dally, In no ovorit.wlll the corrosjiondlna ANNUAL PERCENTAGE RATE bii more 'than tho lossor or 18.000% or tho
· maximum rato allowed by applicable lnw. Today tho lndox Js 8;260% 'poi annum, end th'eieforo tho Initial Periodic Rato ond tho i:orrospcndh1g
A_NNUf.L ~ERCENTAGE RAiE on your C::rodit Lino are as stoled belo~; . . . . . . . ' . -

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Current Rates for the Arst Payment Stream :
Range of Bahincil , M.irglri Added - . . ANNUAL PERCENTAGE Dailv Periodic
·or Condillons to Index - . RAiE - ' · Rote·
,AU Balanc_~ o.•oooo/a . 8,250% Q.0,,!.260~

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Notwithstanding any c_iher provision of this _Agroernont, we vim not ~hargo interest 0~ ~ny undlsbursed roan proceeds, except as may ho

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permitted during zmy Right of _Rescission period. No matter what else tnay be stated in any other provision of thls Agreement or In any other
document you may have with u!., you do not agrco or lntond to· pay, :md wo do not agred or il\tend to charge any interest or foo fer the Credit.
er.
Ag'reement which would in any way cause us· to contract for, i:hargo collect more for tho_ Credit Une Accou·nt than' tho maximum we would ·
be permitted to charge or collect ~y miy. applicoble federal or Florida state law, Any such cx:cess Interest or unauthorized fee· wlll be applied first

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to reduce the unpald principol bnlance of the Credit Linc Account, ~nd when the prlnclpnl hos been paid In full, be refunded to you,· · ·
Conditions llndcr Which Other Charges May Be Imposed,. You ogri:o to pay oll lhii olhor feiis and ch0rges rolatod to your Credit Lino OS ael forth ·
below:. · · - · · · - ·-
Annual fe':3, A norireiunda~lo Annual fee of $50.00 wlll be charged to your Credit Line et the followtng timo: 'Annually;
- - - - - . . . . - I .
Returned Items, :You moy bo charged *30;00 If you pay your Croillt Linc obligations, with o check, draft, or othor item that is dlshonim;d
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for arw roas~n, unless ap_pllc:13_ble law requir~s a tower charge' or prop!blts ~ny chorgo_. : -. . I - • .

_Fri~ t_o ·~t_oll Poyi:n_ent. Y_cur C~edi~ ~ln_o A~c_ou_nt _may ~o charged $~0.0(! Wh!Jn you ren~est_ a_ stop P~Y!ll.~n; Oft yo_ui' _account•.
Lnte Ch:irge. Your- payment will be lato If it is not received by us:wllhin 15 days• lifter the "Payment Duo Date" shown DO your lmlcaic
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stiite!flent. , !f.yciur payment is latii we· may charga you 6,000% or U,o payment or $6.'oo, whichovor rs· gro.itor', I . . .
Crotllt Une Chilek Printing C~arg~. Your Credit Lino Account may ~o ch:irg~d $6,50 p!ui_Shlpplng & Handling. j
Security Interest Chargos. You agree to pay nll socurity lntorcst chqroos related to yo~r;Credit Uno os sot fort!l belpw:
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Flood Certllicatlon to Arst American · $1 B,00 t : •
Appr~isnl FeO $850;00 •· ~
Recording Foos -$53, 10
Document Propnraticri $225,oo
·Tlllo Examination to Howerd W, Mozlom:rno,oo.
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Total ' $1496p10

Special Ta~cs, You ogreo to pny.a!I taxes rolatod.to your Credit Lin~ as setfcrlh belo~:.
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Intangible Tax $300o;oo

Dec Stampe
Total
-$5.260.!)0
$8250.00:
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Lon~~r•~ ~igh~~. l!raq~r this AgreCmeni; we have the fotlawi~g rights; ! . !

Termination .ind 'Accol~radon, · Wo can terminate your Credit Linc Account and ,requirJ ycu to pay us 1ho ontlro ou1sfondln[I bnlonco in one
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payment, and charge you certain foes, jf any of tho followlng'happen: (11 You i:ominl\(raud cir.make a material (Tllsrapresontatlon at ony
•time in conrieetion with this Credit Agraomont. This can inch.ido, for examplo, a fnlso statement about your: Income, assets, Uabl_lltlos, or·
any other nspccts of your rlnanclol condition, 121 · You do. not meet tho repaymant terms of this Crodlt Agroomiint. (3) Your nctlon or
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,Inaction adversely affects the i:cllatoral for the plan·or our rights In the ccUaterel, This can Include, for example, fallure to maintain roqulred
Insurance, w.isto or destructive USO of.tho dwetuno, roiluro to pey taxes, death of oil persons' liablo on tho account, transfer o_f title or salo
or.the -dwalllng, orcotlon cf a senior flan on !ho dwolllng without oµr permission, foroolosuro by tho holder or another llon,•cr.the uso of
funds or tho dwclllna rorprohlbltod purposes, · ; •
suspCn$lon or Reduction. In addition to ~nv other rlatits we may!have; we ·con suJpond additional o,ctenslcn$ of credit or rodlice your
·Cn:idit limit during· any period lri which ~iny'of tho following ero in effect: . - - . : .i • .. . .. . • : .•
. - . I . . . -
111 Tho valuo cf your prcpofty declines slnnilicontly below the property's opprolsod yafuo for purposes of thls Cr,cdlt Linc, Account_. This
includes, for cxaniple, a decl!no such that the initial dlfforonco between tho Credit Llrn!tlond the ovallablo equity Is ·roducod by firty percent
•and may Include n smollc! docllne dopof!dlng on tho lndlyidual clrcumsta11ccs, · ;j j ,. • · - _
(21 ¥{a reasonably bolLeva that you will ~o unable to fulfill your reyment obllgntloqs:under your Credit ':'ne f'.c_count due to.a malarial
1chang~ m your financial crrcun_ist:inces,. _ _ , _ li •
(31.. Ycli arc In dofnillt under any-material obliaatliins cf this Crddlt Lina Account,: Wo- consldor ell of your obllgntloll3 1iJ be materlal;
~c~~gorlos cf moteriol· ol?llg. otlons ln~luda tho •events dos.cri~od a_bbva_ tinder ,Tcrrn_iriotio_n_ nnd Accolcratlon, obligatio'ns to _pay foes and
8, ~ - cbllgatlcns and limltations on tho rocclpt or credit edvnnccs, obl!gallons ~onc~rnlng m_alnten.incc-or usa of _lho prcpertr or
,cie__- -/ods, oblloctloris to pay and perform tho terms of.any o!her do_od cf trust, ~crtg~go or lease .~f tho _property. obl!aal1ons to notify us
 CREDIT A!3REEMENT ,.
(Continued) '. e Page4

~nd to .provide documents ~r Information to us (suci-, DS Updotcd iinoncliil lnrormotlcinJ,!obligotlons to comply with,appricable laws (such DS
26nlni:r rastrlctlonsJ, .ind !lbllgatlons or any' comaker, No dofault will occur Until we ;mall or dclhiar,11-nottcti of dqfault to you; so you can
, rostore· your right to credit ndv11nces. : :.
We
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are procluded by government action riom imposing tho ANNUAL PERCENTAGE RATE provided roi- underJhis Ag"reemont.
. - . I' . . •
(5) The priorl~y or our sod11ity Interest Is advorsely affoctcd by govcrnrnont action to the extent that the value pf the sacuritv Interest ls
less than one'hundrod twenty porcent. (120%1 or tho Credit Umlt, ··· · · · ·
isl ·Wo tiiiiro been notified by govornni~ntol oi.&thorlty that continu~d advam:os may constliuto ari uns~fo end unsound buslnos,:: prectlce.
Change Tn Terms •. Wo may make changes t~ tho terms of thls Aurceinont Ir you oorao 10 the chango In writing at that time, if the change
yvm unequivocally benorit Y!>u.throughout the remainder of your Credit Lina Accourit, er if thii change is.inslgnillciint (such as changes
relating to our data proocss1ng systems) •. If th11 Index Is no longor 11vai111ble,wa wtn chooso a new Index ond margin, Tho new lndox WIii
have an hlstorlcal moyemont substantially -slm!lar. to the• orlolm1l Index, 11nd 1ho, riew Index and maroln will result In an ANNUAL
PERCENTAGE RATE that ls substantially similar-lo the rate in orfci::t at 1ho tlmo "the orlolnel Index becomes unovelloblc, Wo may prohibit
·addjticinal, extonsions of credit or reduco your Crodlt Limit during any period lo whlc}l the maximum ANrJUAL PERCENTAGE RJ\TE under

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your Credit Line Account ls re.ichcd. , 1, ,. ·
- . - - t • t
Collcctron Costs,. We may hire or p11y someone else to help collect this Agreement lf'you·do not pay,· You wlll pay us the amount of these
costs end expenses, ~hich Includes, subjoct to any llmlts under'oppllcablo law, oJrlreasonoble attorneys' foos·and our legal oxpo!'lsos
whelhor: ornot there ls a lawsultdncludlng reasonable· otiorneys' {cos and legal exp~n~es roi bankruptcy proco. cqlags (Including of forts to
modffv or vacate any 11utomatlc stay or lnJunctlonl, and appeals, If not prohibited by, {PPllcablo law, you nlso wlll pay DnY court costs, In

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addition to all other 1mms provided by law, 1 • ; • • · · · • ' - '
Ratiilncrease; In addition to cur other rights during termination and accelerotlon; we may lncreaso tho variable ANNUAL PERCENTAGE
·RP.TE under this Agreement to 18,000 percent per annum, The ANNUAL' PERCENTAGE RAlE will not oxciiad tho m~xlmum rota permitted

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by oppllcoble !_aw, If we do no.t Increase the ANNUAL PERCENTAGE RATE upon.termination or ~ccoloratlon o_fyour Credit Lino Account, It
wlll continue attho variable rate In effect as of tho date oftotm.inatlon or accioleratlori of your Credit Uno Account.
Acc~ss Devicos, .tr your Credit Lino Is suspended· c~ tormlnaiod, you must Immediately return to ui:: all Home Eq~ltv Line of Credii. Checks

ED
and a'ny othor accoss devices. Any use of Home Equity Line of Credit Checks or othqr ilCCBSS dovicios following :iusponsion or.1ormlnation
may bo considored. fraudulent. You Will also remain llabhi ror any further llso or Hoine Equity Line of Credit Chocks or othar Credit Lino
access-devices not returned to us;,: · · · · · ~- · · -
Deloy In Enforcement. Ws may delay or woivo the enforcement of any bl our rights undor.thls Agreement without !osing that right or.any other
right, If. wii delay or w11iva any of our rights; we may.cnforco 1hat rigflt at any limo In%& future without u·dvDncc notice, for cxampfo; ·not·
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·terminating your account ror non-payment wlll not be II watyor of our rigflt to terminate yo r 'account In tho future Ir you:havo not p~ld,' ·-
Cancellatiol'I by you. 1i,you cancel your'.right to' credit advoncos under this Agreement, y u must notify us·and return' all Home Eqully,Line or
Credit.Checks and any other access devices. to .us. Despite cancell:lllon, :Your. oblioalion's:undor-thls Agreement wilFrom-ain in full fore.a n11d
er(ect until you have paid us oil amoUl'ltS due under. t_his Agreement. • .I i .
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, Prepayment. You inny propay all or any amount owing under this Credit Lino et any timo without ponolty, oxcept we will bo ontill~d to rocolve ·
all accr~ed ANANCE CHARGES, and other charges, If any;. Payments In excess of your Ml~lmuri, Payment wnJ not roUoyo you of_your obllgatlon
to continue to moko your Minimum Payments. Instead, they will reducq tho principal balani:o.owed on tho· Credit Lino, You agree not to send
· us payrriel"!,ts marked "paid in fullu, •without "reco·urse", or similar langua1,10, If you send ou~h n payment, we may accept It without losing any of
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our rlgtiti. under this Agreement, and you will remain oblrgatcid to pay any further amount ·owed to us •. All written communications .concerning
disputed amounts, indudln~ any ch.eek or other pny~cnt Instrument thn\ lndlcate_s that the.payment constitutes "pnymqnt in run", _of the amount
• owod or that Is ten_dorod with oth_or conditions or llm1tatlons or as full sa>lsfactlon of n disp~ted amount rnust bo mad_!ld!or delivered to:· Bank cf
Coral Gables, Attn: Loon Opernllons, 95 Merrick.Woy, Sulla 106 Coral Gablos, FL 33134,. · - - · •· - -
Notices. All notices Will be sent to your address' OS shown In this Agreer'nont, Notices Will :b]3 malled to you at a different address ir you give us
1o
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writton notlco o_f a·_difforimt o~~res_s •. you agree to ~dvise u_s p_ro~ptly if you chnnoe your lliniJ address, · i·. _
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Cr~dit lnform~tlon and ·R.elatcd Matters, Yfi.& authorize us to roloes_c lnfocmntlon about you to third parties _ns de.scribed !n our p1iv11cy po!lcy and
our Fair Credit Reporting Act notice, prov1dod you did not opt out of t!\e applicable pollcyt br 11s permitted by low.- You agroo that, Upon our.
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req~est, you will provido us with a currant fl~anclal statement; 11 new ctedit application, of both,,cn rorms provldod by us, You also agree wo
moy obtain credit reports-on you·at any tiino, at our solo option arid oxponso; for any reason, lni:luding but not limited to d~tcrmlnlng whether
there litts been flli adverse change in ycur rinam:lul cumllllun, Wu may roqulre u navv oppralscl ur the Property which :sc'?ur~ your Credit ~tno at
any time, includhig an Internal Inspection, at our sole cptlori ond 01(pcnse.. ,i - . - _-
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Transrer or Asslonmcnt. _Without prior notice or opprovol from you, Wfr reserve lhB rlghtfto soll or transfer your Credit i.!rie Acco11nt .and our
rights. and oblloatioris under this Agroainont to another lender; entity, or porscin, arid to assign our riohts under tho Mortgaga. Your rights undar
·this Aorcamcnt belong to you o·nly and may· not be transferred ·or essloned, Your obliantlons,. however, ore binding on .your heirs and lo gal
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roproscntntivos, Upon any such sela or transfer, wo will hava no furthet obllgatlon to provide you with credit advances or to perform any other
obligation un~er thls;Aorooment. . - . • . I . • .

.Tax Consequences•. ::'(ou undorstnnd ·that neither wo,. nor any of our employees or .~gonts,·, make any reprllscntatlon or werrantv W~atsoavcr
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concemlng tho tax conscqucnci:s of your cstablishlna an.d using your. Credit Lino, ·1ncludlng tbe deductibility of intcrcot,.ond that neither we nor·
0
our employees or agents wlll be liable In the event lntorast on your Cro~lt Lino Is not dedu.cilble, 'You should consult yout own tax adviser for.
guidal'ICD on this subj act. - ·· - • -1 ;' - -· :
Notiry Us of lnDccunite Information We Report To Consumer Reporting Agencies. Pleaso notify us If WO report any lnaci:urate lnforniatlon iibou't
your 11ccolint(sl to a co!'lsumcr reporting agency', ·vctir \vrltton notlco describing the·speclflc lnaccuracy(lesf should bi: sent.to us at tha,
· follciwlng 1iddress: _Bank of Coral Gables Attn: Loan Operations 95 Merrick Way, Suite 106 Coral Gables, FL 33134, . - . - . - ..
.Jury Waiver. Wo and you hereby \voive the right to ony jury trial In any action, proceeding, or counterclaim brollght by either us or:you tigninst.
thc·cthcr.' Unltlal Herc · I · · · - - · · ·- , ·
. Governing Law, ·This Agreement will be govemed by federril law applicable to us tmd, to tho extent not preempted by,rederal law,·the laws of
the s111tc of florlda without roga1d to Its confllcfs· of law p·ravlslons. This• Agreement hos been. accepted by us in tho State of Florlds, · .
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gf Venue, If thoro 1:: o .laws. ult, you ogrco upon our roquost to ~ubmlt to.tho Jurlsd_lction cf the courts of Ml;in:\l•f?ad~ ~ouniy, S~eto cf

lc::tc-: . .shin?nt: You cons·e~t to the tssuDnce of a continuing writ of garnl~~inent or ettach~ent liga.inst your disposable.Jearni~gs, in ai:cordanca
- Wit Scct1cn 222, 11, Florida StnlUlos, In order to s.itlr:fy, In whole or In part, ony moneyJudgfncnt entorod In favor of us, -
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CREDIT AGREEMENT·• '. I
· Loan No: (Con~inued). ' i i 'Page 5
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Caption Hoadlngs•. Cap!ion headings In this Aoroomonl' ;ire rcr convo.nlenco purposes cply ;ind aro not 10 bo usod to Interpret or derlne tho
provisions pf this Agrooment, . · · .; • • ·
lnt_orpriltall~'n; Y9u agree that this f\grocment, ·togathor with tho Mortgage, is tho bost ov1denco of your agreements with !J~• tr _we go to court
for ony·rcoson, wo con use a copy,.fllmod or olectronlc, of any periodic statcmont; this Agreement, the Mortgage or any other document to
prqvo y.,hat you owo us or that _a tronsnctlo_n has·.1aken pleco, Tho copy, mlcrofilm,_mlcrpflcho,.or. optic.ii imogo will have 1he samo validity .i_s.
the onglnal; You agree that, OXC?DPt to tho ~xtcnt you con show thoro is a billing err9r, your most currant periodic &totom~nt .Is tho beat
ovidonco. of your obligation to pay, · j
scvcrabl(lty,. If a court finds that any provision of this Agreomom Is not vo)ld or should noi be erircrced, that fact by Itself will not mean that tho
I• . rest of this.Agreement will not bo volid or onforood,. -Thoroforc,· o court. wlll•enforco tl)o.rost cf tho provisions of this Agreement ovon If n ,
provision of this Agroomont may bo found to be Invalid or uni::nforcc11blo, . , •
Acknowledgment.· You understand and agroo to tho t~rni; and cionditioh~ lri this Agrocme~t; . By sinning this Agrcomc6t, you acknowlcdgo that.
·you hnvo read this Agreomiint, .You also acknowledge receipt of a i:oinpletod i:cipy of this iAgrccmcnt, Including the fair Credit Billing Notice il!Jd
tho eBrl.Y ho~o oqu_Ity lino cif ~iodlt 11ppllcoti~n_dlsclosure, In addition 10 the hondb~ok enti(l~d ''What y~u should know ,a~out Home Equity Unes
ofCrod1t, 11 given With tho opphcatlon. · · · · · · · ·· :I , · ,. · : · ·

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BORROWER:
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Laurence Schnelder I, ,.
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Effective Disbursement Date: _ _..,,~.-.,/2,.
-·= '7-"_~.·
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'! Florida Documer;itary Stamp Tar

Florida. documentary stamp. tax in the amount required by law has been paid With respect. to this Agroement on the
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. Mortgage securing this Agreement. - . - : . .• • ! . ~· . . .

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· CREDITAGREEMENT
(Coritlnued)

BILLING ERROR RIGHTS

• ·page .6 •

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YOUR BILIJING RIGHTS
KEEP:THIS NOTICE.FOR:FUTURE;USE
This notlca ~on ta Ins Important information abou~ your rights and ci~r responsibilities under)h'o Fair Crodlt BIiiing Aor,
Notify us In case of errors or qu'estloris <!bout your blll. •
. • . . . • - -. -- . - I ' ; :
If you think your blll I:: wtong, or If you need more Information about n 1ransa~llon on your'bill, write us on o separate shoet ~I
Bonk of Coral Gobles •.
Attn: Loon Operations
95 Merrick Way, Suite 106

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Corol,Gnbles,·FL· 33134 , .
or nt the_addross listed on your blll,. Writo to us os soon os posslblo, We must hear from· you no lator thon slxiy (60) doys after we sent you the·
first blll on which.the error or problem appaarod; You can telophona ~s, but doing ~o wlll not prosorve.your ~ights, ·
In your lotter, give us 1ho followlrjg lnformotlon: ,,

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Your name and account number•.
1:ho dollar.amount of~ho cus_pe~ted crr~r, __ . I. _
Is if 1/~u ilood maro inform;itlon, demibo the !tom you nro

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Describe tho error and c><ploin, Ir yciu c~n, why yeti belicvo there an error,
not s~re about,
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If you have authorfzod us to pny your bill automatically from your savings or checking ncccunt, .you can stop tho payment oo any 11moimt you

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· think is wrong, To stop tho payl]lcnt, your lotter must roach us three (31 buslnoss days borciro ~ho automatic payment Is sche~ule~ ~o ~ccur,
Your rights and our responslbllities after we rocefvo your written notico. .
Wo must acknowlodga your latter within thirty (30) days; unless wa hayo corrected the.error by then. ·•Within ninety (SOI days, wa must either
. c·orrect1ha error or oxplaln why wo boliova tho bill was correct; · · · · · · · · · ·•
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, After we receive your lettor, wa cannot try to collect ony'amount you quostlon, or report you as delinquent. We can c9nlinue to bill you ror the
, ~mount_ you qlia::tlon, lncludfng flrionce chnrges, a·nd wo'can·apply any unpaid amount.aija!nst your Credit Limit, You do not hove to pay any
<jUestion~d !!mount while we a~e lnvo~lgatlng, but you are ~t!U obligated to pay .t~e pa_ns of your blll that are not In question.
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I( wo find that WO mado a mistako on your blll, you wm not have 10 poy nny finance ch~rges. relntod .to "anv· questioned nmount. If WO didn't
mako a mista~o, you moy have to pay llnnnco chorgos, ;ind you wl!I have to make up any '!Its sod payments on tho qu·ol!,tioned emount, In oithor
case, wo will send you a statement of tho amount you owo and tho d.at~ on which it Is due~ , ·, · :
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If you fall to pey the amount 1hat WO think you "owo, WO may report you OS delinquent, H6v1evi:r, if our cxplailatlon·toes not satisfy you and
you write to us within tenl1Ol days'telllng us that you still rorusc 10· pay, we must tell unyono wo report:you to thnt you haven question about
your bill; And,' WO must toll you the nnmo of anyono, WO reported you to, Wo must
toll .inycna wo report Y<:>U to ttiot the matter hos boon
settled betwoon us whan It rJrinlly Is, · · · · .,

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tr WO don't follow those.rules,

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WD can't collect the nrst. $60 or th~ questioned amount, elicih If your blll was correct •
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·· 111111111rn 11111111 UII 1m ~ 111,, WII llllllll .

i. {JJG/~;Tc - - •- -. CFN 200504420:39
RECORDATION REQUESTED BY:· OR BK 20662.PG ~250
. B=11k or Cor.,I Gabloo , ·
Lending DM•lon ~ECDRDED 07/31/20n6_09~03s10
96 M•rrlck Woy. Palt:1 Beeoh·county,,Floride
Sulla 106 ·, . ·AHT 1;5001 000,00
Coral Oablo1, FL 33134,
·Deed Doo 5j250.00
, WHEN RECORDED MAILTCh. .Intar1g 3, 000. 00
Donkor Coral oo~lo• Shoron .R,. Book, CLRRK t · C0}IPTROLLER
Lending Div41on · · ·- Pga,0250 1
~ 255J C6pga). ·
: 9S Morrlolc Way
Sulla 1D6
l' ·Carol Oablu; FL 33134'
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SEND TAX NOTICES TO:
· Dank of Coral Oablas
'Lending Division ·
95 Manlck Way
SUila 1D6 _ _ .

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Coral Oabraa FL '33134

Thi• Mortu•a• prcperad by:

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Namoi n,b,i:ca Lopez, A11ll~nl \Ilea Praoldonl:
Company: Dank of Carol Goble~ · ·
_Addr_cs_•,:_ ~6 Monie~ W~y, Ca_ral O~blas, FL 331:14

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.MORTGAGE
'FOR USE ~fTH ~ECURED REVOLVING CREDIT AGREEMENT'

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,MAXIMUM LIEN, The 1Dtol ~mount of Indebtedness securod by this Mortgooe mav decronso or lncrcoSI) from ·
time to time, but.the maximum nmotint.of prlnclpnl Indebtedness whlch-muy outstanding ot oriy ono time bo
,hull not oxcoo·d $1 ,500,0QO,OO,, pluri Tntoto11t, nnd iima-unta cxpcnd1:"d or·advuncad by. Londor the pavmont for
·of 111xos, lovlei: cir fncuriince ·en the Piopertv, iind Interest orr such omcunts •.
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"'THIS, MORTGAGE, datea July 2a; 2006, Is, ma.do and executed betwoen Louronca Schneider nnd Stophnnlc
:Schriqider; husbnnd nnd wtra (roforro·d tci boicw os ~Grontor"J ond Dunk or Carol Gabloa, Whauo ndciro1111 fa 95,
- Merrick Way; Suite 106, Coral Gables;- FL 33'134 (re"rerrcd ta below os "Lendor"). _ •
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GRAllT OF MORTGAGE.' For, v•luablo con;fdorntlon, llr•nlor mortgogoa ,a Lancfor o!I oi Groncaiu right, tltlo, ond 1~1010,t In and to th•
follawlno d■ ecrlbad roal' proparty,· 10001hor WIiii oll elllotlng or aubsequontli, crac:tad,or 11lllxcd buUdlng•, lmprov•m•nl• and llxtura,1 all
ao1omcn\e, rights of way, and eppurtenoncoG; all watrr, watur rights, wolarccursos and dl1ch rights Onoludlng 1lock In utllltlos wl1h dlloh
er lrrlgutlon rlgh1a)l ond all othor rights. roysldas, ar.d profits rclatlno to Iha re Bl pro11011Y, lncludlnq Wllhauc r.mllilUcn Dll mlnorala, oll, 1101,
gootbcrmol and similar mattcrc, (the •ncnl Propcrty") loc11lJ!d In Palm Beach County, State of Florida:. · · ·
of
FOX Hill ESTATl;S OF BOCA RATciri~ iiccording to tho Pint thororir, DS rocordod In Plat Boole
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- Lot.'37
• B7, Pago 4, of 1ho Publlc Records of Palm Bo3ch County, Florido, · . · · .• -
Tho Roni Property or-fio·nddrose la commonlv known ae 17685-Clrcio Pond Court, Boca Raton, FL 33496,
The Real Property tnx ldentlflcotJon number Is 00424631010000370 •.
REVoi.vi1iG LINE OF CREorr. 'rhla Moitgaga aocuroa Iha' lnd~bladno~1 lr1cludln11, without Umltallon, Drovolvln11 lino oi credit undor which,
upon raquoat by Borrower. Lander; wl1hin twenty 1201 yaors from tho data ot thin Mortgoga, may maka rutura adv~ncoa lo Do110wcr; Such
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1~111,1 advoncu, together with fntorast tharaon, aro cacurad by 1h11 Mortaago. Such adv~nc ■ a may ba m:da, repaid, and remud11 from ,
limo lo llm•, :1ub)acl lo Iha limitation that Ute tctol culotandlng bolonco owln11 ot any ana llma, not Tnc!udlng llnance charges on ,uch
bal~nca al ll fixad er vorlabla rota or aum 8D pra\lld,d In 1hc Cralfit Agrcomonl, any lcmpolilry ovorao••• other chargu, um! eny 11mdunb
expended or udvnncad 11, provided In olthcr 1ho lndabtadnoss par.,grapll or this por.,graph, 1hall nor oxcaad tho Crudll Lfmll a, provided In
Iha Credi\ Aorecmont, · It ls Iha Intention· of Grantar nnd under \hat thla Mortoaoa ucurea Iha belanco outstanding under U10 Credit
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Agroamanl from Ume lo tlmo _from 1010 up ta tho Cndlt Umll aa pr9vl~•d In tho ~odll Ag101mont •!!,i! any lntormadl•t• b•bnca.
<lronior piaailntli, eulans lo Lendor 111 ol Granter'• right, 11110, and lntaroot In and to ell prosont 111d fuluro loaoes ol tho Property and all
· Ronrs rram tho l'roparty. In 11dditl0n,· Grun10r nrant• to Landor u Unllorm Ccmmoralal Coda socurlty lntare&t In tho Pmcnel Praporty ind
Rants, · · · · · · · · · ·· · · · ·· · · · · ·
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THIS MORTOAGE, UlclUDING THE ASSIGIIMEIIT OF IIE«TS AND TIIE SECUR!TY. INTEREST IN THE llENTS AIIO PERSONAL pnoPEllT'I•
IS OIVErl TD SECURE· IAI PAYr,1ErlT OF THE JNDEIITEDNESS AIID · (DJ t'EIIFORMANCE OF EACH OF GMNTOR'S AGREElllENTS AND'
· OBLIGATIONS UNDER THE CREDfT AGREfMEl'JT-WITH THE CREDIT UIMT OF 01,60D,DDO,CD, llfE RELATED DOCUMEIITS, AND THIS
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MORTGAGE; THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: . -. . - -- - -

ORAtlTOR'S WAIVERS. Granter Wolvoo all right• or dafon10,· rirlllna by taacon or any •imo 1ctlan" or ~on1i-doficlancy• low, or any other
l•W which may pravo11t Lan,!or from brlnalna any action a9oln~\ Granter, lncludlng a clalm ror daRclcnay to Iha oxtcnl Landor Is olhorwlu
onllllod lo • clelm for dallalcncy, baforo or altvr Lendor•, commancement or ccmpletlon or ,ny roroclcsura aotlon, ulthor Judlclally or by
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i:x•rclsuor I paw_or of Bolo~. . _ _ ·· •· _- .

· GRANTOR'S REPllESErO-ATIONS AND WARRANTIES. Gr;nlor wanonts 1h2i1 lo) thl• Morioaoa It axoouiad oi llorrowar'a jaquHt and
no! ni.tba ruquoot ol..Lcndor; (bl •Grsnts,r.ho: Iha full powar, right, and autharllv lo ontar lnlo,lb(Jt Martgaga~onl{,to hypo)livo11a·\I}!
Praporty; (cl Iha provlolon:; ol this Mortgogo do not canlllt:t With, or raoult In a dolault undar any 111roomcnt or other lnorrumcnt blniflno
upon G11n\ar and do not ro,ull In D vtaloll•n or any !Aw, regulallan, cau11 dacra• or ardor eppDcebfo lo 011ntor; .ldl Or,ntor ho• o,tobllshod
adoquo\0 moon• of ob1olnln11 rram Borrower an e conllnulng boal• lnCormiitlon Dbcul borrawar'a llnanolal ccndltfon; and lo! L,,ndcr has
mado no 1op1113onlat/0n to Granter ebaUI Dorrawar llncludlng wllhau1 limitation Ihm credl1Worltilnas1 cl Borrower).
PAYMENT AIID PERFORMANCE, - Exc~pt n c1tuirwl~• pravldad'lll thl• M~rrgago1 ·eoirow~r •nd· Clrcntbf ~hall -P~Y ta rn,dar oil
• lndoblodnau 1acurad by lhla Mcnaaao as It boccmos dU<>, ind Darrowor _and Grantar shall atrlctly p1rrorm au Barrow•1'1 and Grantor'•
· obDa•tlcn, Ul\der 1h11 Mongcgo. · · ·
poss1:ss1oil AND MAINTENANCE OF THE PROPERTY, Bonow or rind Gn1ntar corn~ 1h01 Borrowcr'a Dnd rirontai•:r pc3ica,lon ~nd uso cl
· Iha Property 1hcll bo 11ovamod by tho followina provlslon31 • · • ·
or
Porsmlon ~nd U~o; Untll G11n10r•~ lntoicot In ahy it! al tho Praportv' Ii iorocl01od, oran1_0r moy 111 rtim~iri In poiee11Jo11 and.
control of tho Proporty; 121 un, oparalo or monago Iha Prcpa11y; ~nd 131 c;ollocl Iha Ranta lrom Iha P/apar1y.
Duty lo Mslntnln. Groritor ,hall maintain •,ha· Prop.any -In goad candlilOIJ and promptfy p~rform all rcpnlrc, roplacom•nt•, ;,id•
· niotnlononca nacouary to prnarve 111 Yahn. 0
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CompffDnca Wllh Environmantal Law,. Gronlorrapro10nta and w_orunt:: 1a Landu lhU: 111 During the porlod of Grontcr'• r,li,,ior,hlp

-i. .Exhibit "B'.'

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MORTGAGE
(~imtin_uod)
1
Pogo;:

·onha Propony, !hara' has boon na uoa, ganoriitlan, ir11nullciuro,at01oga, 1ra11rrion1, dlrpasal, reloaso or-ihraa1onod roloara al any·
Hnzardaua Sub1h11ca by any parson on, undar, about ar. lrom Iha Pr0party1 121 Grantar hsa 110 knowladgo al, or raa,on ta bollava
· thU lh•r• ha• boon, oxaap1 DD provloualy dholoaod lo qnd ac~nowlodgad bi' lander In writing, ·(ol ony broach or vlolntlon al any
Envlronmontol Laws, (bl any u,o, gonorallon, rn•nulacl~ra, sloroua, trootmont, dl,posal, roloo,a or thraatcnad rcla••• ol any·
, Hazardous Subs1011ca on, undar, about er from Iha P1opcrty by any prier owner• or eocuponls al Iha Praporty, or (cl any nctual or
· throctoncd lltlgollan er olalma ol cny kind by any parson relalln11 to 1uoh mottor•: end (31 ExC1!pl ar provtou1ly dractoaod to end
acknawladgad by Lendor In wrldno, . (ol nnlthor Oron10r nor any tennnr, con11ac1or, egont or 01har eul!lorlzod user ot 1ha Proponv
ahall uso; gonoreto, rnanulactura, stare, trcol1 c!Jsposp cf or rclouo any Haurdous Substcnca en, undor, about er from tho P1oporty;
one! . lbl any r.uch actMIY shall ba conductod In compllanca With all. appll:oblo lodoral, slalo, end lc~ol laws; ragulllt!cn, end
ordinances, Including Wllhout llmllatlon ell Envlronmanul Lawa;. Granter outhorlzua Landor and Ila cganlr to enter upon tha Proponv
10 mau aUl:h lnapoctlona and l••ls, et Granlor'• oJpcnao, ea Lender may doom 1pproprlato ta dotormloo compllonco al Iha Proporty
with this sactlan cl tho Mor1gago, Ariv lnspnctlon• or Inst,: mndo by Londar .i:.hail ba for londnr's purpcsoa only end ,hall not ba

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cons11uod lo craato rmy raaporulblllt)' or ll~blllt)' on tho part" cl Lendor to Grenier or. la any othor parson, Tho roprasantallan1 end
worrantlas contained horoln oro baDDd on Grantot'• dua dllloenca In lnvaatloatlng tha ProportY for Ha:r.ordoua Stlbllsnaa1, Grontor
· heraby." 111 ·rolauos end wolvas any Mura clalms •11•lnsl L•ndor lorlnc!amnlly ar canlribullon In Iha ovanl Gronlar bocoma• ll1bla ror
alcanup er olhor cool ■ undar 11ny auch law,; end 121 DllfOOa to lndemnlly and hold hormlaaa Lendor •o•ln•t ony and all clotm•, lonaa,
flobtlltloe, darnooo,, ponalU01, one! •~ponns which L,ndar may dlra01ly or l11dl1001ly 1u11aln or 1u1Tar ra,ultlng f10m o broach ol thla
.$action ol rha, Mongaga or.u a oon•aqucnca _cl any use, ;cnoration, m•nUlacluro, storaga; dl>paul, raloasa er tllroatanad ralncao
occurring prior to Grontor'a ownor,hlp or lntoron In tho Prcporty, whathor or not tho aama wu or ,hould havo boon known lo

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Granrar;: Th• provlalona er thla uoUon or th, Mo1lgaoo, Including Iha 0bffg1Uon 10 lndamnlly, ahaU surv!va tha payment or. Iha
lndebtedne,a and Iha setlslectlc11 and raconvovanca or the l•n al th!r. Mortgoga and ~hall not bo allc01od by Lender'• 1cciutslUon or
eny lnlaro•I In Iha Property, whalhar by foroclo1uro or cthorwlta, · · · · ··
of
Nulunco, Waua,, Gnnlor ,hall not CIII/SDj conduct or pormll zny nuloanc11 ncr oommll, porrntr, iir sulier any stripping ~r wula on

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or ta tho Proparty or any portion cl tho Proport)', Without llm!Una tho gonarolltV o! Iha loraoatng; Gron1or wrn nat romovo, er aront ta.
any othar por1v Iha right la remove, anv tlmbor, mlna111!1 lfncludlng o" and go1J, coal, clay, acorio; aoil, gravel or 1oclt produc1a
_without l.andar'• prior Wrlllen con,onl, · · · • ·
i Romaval of Improvements. Gtunlor •hall not c!cmall•h or ramova 0ny lmprovamanls lram. trio Real Property Whhaut Landor's prior

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wrlllan consent, As n condition to tho romoval of ony l111pravtment,, Lendor mny raqulra Granter to mako arranocmonts tallslacrory
to Londar to raplaca cuch lmprawmanta Wllh lmpravemants of al 1oa1t_ equal val~o, ·
I. bndu'a Rl;ht to Enicr; Lender and Londar'a aiganl1 ilnd"rapiaacntaUvae may 011ierur.011 iho Roel PraparlV al ell ioc:icnablo llmaa ta
Alteml la .Londer•, lntcroata and to lnopac;t Iha Raal rropany lar purpooo3 of Oranlor a campllcnca with lh• tamu ind aondlrlona 111
I th!• Mortga~o,
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Sub ■ oquent Uon1. Granter shall not eUow any 1ub1uquan1 ltaoa or mortaaooa on aU or any partlon of Ilia Proparrv Without Iha prior

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written consent cl lcnd~r; . • , _ _ .
Camplioiica with Gavornmontol Rcqulrilmi111ts, · Gimntor chaU piompUy i:cimply with oD lows, crdlnericas, rind tooularlons, now or
hornaltar 111 ollact, of aQ gavarnmontal aulhorllloa oppllcabla to Iha uee ar_0ccup1nGy or tho Proporly,. Grantor may contaat I~ 1100d
faith any such law, ordlnonco, or rooutallon end withhold compl11nca durlnlJ anv procoad!ng, Jncludlng 1pproprlo1e eppaat,; aa lcn11 n
I: Granror hes notlnad Landor In wrltlna prior to dolna sa and so long er; In Lendor's aola opinion, lond11's lntorosls in tha Property era
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not Jeopardlzad. · Lander may nqulro Granier ta post adcqualo ,0curl1y or n suraty bond, roasanabl\l sallsloclary to Landor, ta proloct
Lander's lntaroor, ·
Duiy 10 Prata~t. Granier norou niilthar ta abandon or loava unattondod tho Proporty, Granier aholl do on olh~r ech, In addlilon to
lhaso 11cta 1ot r0r1h oba~a In thla aacllon; which rrom tha choraclor and un cl tho Property arc roa:anobly nacassary lo protacl oncl
prosorvo thi: Prcporty,, · - -
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, DUE ·ot/ SALi; • COIISEIIT DY LE/IDER, Under may; 01 Landar's option, declare lmmcdlalaly dua and piyabla oD sums sci:urcd by lhls-
Morlgaga upon tho zclc or transrar; wlmout Londor'u prior written con~ont, or ell or anv part er tho Jlaol P1oportv, or any lntora&I In 1ha ,
Roal Property, A •,ota or tranllor• ms ans tho convoyonco of Root P10portv or any right, tllla or lntorut In tho (loaf frcpartv; whether legal,
bonallalal ar vqultablo; whothar voluntary er lnvoluntory; wholhar by outright sala, cloud, lnstollmant a0l1 cantrnct, land conlrocl, contract
lor dead, louohcld lntDrosl wllh a term oroator lh•n throa 131, yom,. loa;a,apUon c0n11ac1, er by nla, oulgnmont, 01 tran,ror of any •
bandlcM Interest In arta any land 1ru•t ha(dlno Ilda to tho Reel Proporty, or by any cthor mathod cl convoyenaa al en lnloroat In tho Roni
P1op_0rty, However; Ihle option ahcl not bo exorclaod _by Lancler It auch axarclsa 13 prchibhad by (adorel law er by Acrid• law,.
C

TAXES AND LIENS, Tho fallowlng provision• rolaUng ta tho taxes end Uana_on iha Propeny are part al thlu Morto111e1
J'aymonli · Gnntor 1hell pay whan duo l•nd In •» avenle prtcir 10 dolfnqucncyJ iill taxes, payroll uxas, spocl1I taxas, iissos1monta,
• wa1ar ohorgas ond eewer nrvloa chargo1 lovlad 1g1Tr.Sl or an account or tho Property, and 1hall pay whan duo on olclm• for work
A

dono on or. for sarvlco, rcndorad or, m.ilo!lnl rurnlshad ta tho Prcparty,,, Guntar shall rnnlntoln tho Ptoparty rroo or any Ilona hnlllng
prlcrlly aver er equal ta lhc lnlarest of Landor undor this Mortgago, oxcopt far thees Hana 1psclllcnlly ograod 1a In wrltln11 by Lendor,
end oxcapl for tho lien cf taxes end anusmants nal duo ar further ,pacJRacl In tho Right ta Conlast p111g1oph, · · · -
to
Ng.hi Conl0tl," Grontor may ·wlL~hatd piiymant cl ony hX, unneinant; or olalm In ccnrioo1l011 with a 11110d l•hh dl1put11 ,;var lh~
, obllgotlon 10 pay, ra long n lendor'11 lntoroet In Ula r1oport)' Is 11acJoo~ardlzod,: II u llan 0rlsos or ID Olocl as a ro1ul1 cl no~p1ymen1;
T

Grantori.hatl within filtcan 116) days al10r tha !Ion ollsos or, II o llcn Is mad; within flllcsn 1161 day~ aftor.Grantor hn notlca of tho
. filing, secure Iha dlsch•roo er tho Ran, er Ir roquostod by Landor, dcpaalt With Lendor cash or a 1iutnclont ccrpcrato surely bond or.·
01hor aocurlly 11U1factory la Landor In an amount ,urncrant la tlisoharga Iha Uon pl11a cny cosls end roa,cn1blo 11tornoy1' lace, or
O

oth•t aherg;a thet could accrue a, c ro~ur1 of a lataclasuta or, solo _undar Iha lion, In any 0cnt011, Granlar ohoR dalond_ luall and
lander end aluiU aatlafy any adverao Judgmonl bolora onlorcomanl 11g0lnal Iha Pr•p•rlV, Grenier ■ hall nomo Lander u an addltlcnel
abllaaa undor any 1ur111y bond lutnlshad In lho conto1t prcccodlnaa, ·
Evldanco or Payment. G1on1cir •hall upon domand rurnloh to Lunc!er 1e1iarai:tory evldenco oi payment cl tho IOXOI or omsamonir ind
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shall authorize Iha approprloto oovarnmenlal olllclol lo dcllvcr lo Landor at any time II wrlttan statomcnt or Iha loxes tnd uso:amonts
ag_nln~t tho P1ap_orty, _ _ · .
Norlco of Canotruollan, Orontor ;hnll noUllr' Landor ot laosi llll~cn 1161 dby:i bclcrc iiriy Wark Is caminancad; any 1orvlc01 aia
rurnlshad, or: any rnolor(als era suppUad to tha Property, II any mcchonlc'a Uan. matorl~lman•a rtcn, or olhor Uan could bo. osier lad 011
account of tho Work, aorvlcoe, or motorlol1, Grantor wlll upon request of Lendor lurnlah to Lonclar oclvenca ouuranco1 tollelaetcrv la
, lander that Granter can and wla pay Iha cont ol auch lmprovamonta, -
PROPERTY DAMAGE INSURANCE. Tho following pravl1(on1 ralcllng to lnaullng tho rriij1111fy aro II part of this Mortgogo: 1
Mnlnlanena1 or lnsur.incn. Grenier shaU piocura and rnelntidn pctlcloa _al fir• ln1uronoo with atandard oxiondad oovarooo,
I ondorsamonlc on a 1apl1eomcnt baola lcnho ru:1 lno\Jroblo value covering all lmprovomonla. an tho Real froportv In on •mount
l • aulllclanl lo avoid oppRcotlan cf any ccln1uranco clau,a, and with a ,tandard martgagc11 clau,o In lover ol Lander, Pallclas ah•II ba ·
, written by ouch lnauronca componln and In auch rorm OG may bo roasonol:ly nccaplcblo la Lendor. Grantor sliDU daffvor lo Landor
ccrrlllcotcs al cova1aga lrorn each lnsuror containing • '11putatlon that covarogc wlll. not bo cancoUad or dlmlnlahad without a
I minimum ol lcrty-Rvo 146I doya• prior wrlllon ncllca 10 Lanctor ond not aontalntno any dl,clalmor cl tho lnruror'• UablRtV ror tarruro ta
:1I· give such norlco, Each lni\llenco pcllcV or.a ehnll Include an cndorramant pravtdlnti that covor1;0 In favor 11I Land11 wlll nel ba
Impaired In any W•Y by any oct, omission or dafou11 or Granter or any other parson, Should tho Roel P10par1y bo locatod In en oroa
i daalonatod by lhu Dl1oc1or of Iha fadorol Emaigoncy M•nagomonl Agency aa a spool•I flood h.narcl araa, Granter eilrcos lo obtain and
maintain federal flood tn,urenca, It nvnUobla, lar Ilia maximum 1mcunt al your crodll lino end Iha full unpaid principal balance ol any
prior lions on tho prcpert)' scouring tho Icon, up la Iha maximum pallay llmll• ut'undor, lh• Nollonal flood ln1uranca P10a11m, er oa
ii~;;~•n,ulrad by Londor, ~nd lo inalnto~ 1uch lnauro11co for Iha rorm of tho loan, · · · · ·

... Da~Jr-i -:

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:f>.
'MORTGAGE.
I (Continued)

AppUcnllon of l'rocaedr., ·Oraotcr shell promptly notify L.ndor of any Ion er domega to Iha rrop·cny, Lander may moko pracl al loaa,
II Granter fella to do ao wllhln fllloon 1161 daya ol lh• oaauolly, Whothor or net Londor'a aocurllY lo lmpolrod, Lender may, at l.andor's
o!ocllcn; rccclvo om! retain tho pracaads ol ony Insurance and apply tho prococds to Iha reduction of thD lnclobloclnasa, pavmont al
ony lion 111locllng tho Prcporty, or tho r01lcl'llllan and. rapa!r o! tho Proporty, If lanclar o!aata 10· a,ppl)' tho pracoacls to rastaratlcn end
ropalr, Granter oholl ropalr of roploca tho damogod er dosuoyod lmprovomonta In a monnar ■ otlafaotory to Landor, Landor shall, upon
setbfoatary prcol al ,uoh oxpondlturo, pay or ralmburso Granter from tho proaoad, for tho raaeonoblo oaot ol repolt er rulcrallan II
Granter 1, net In default under this Mortgogo, Any prccood, which have not bean dl,burscd within 1B0 day, oltor tholr rocolpt and
wh!oli' Lendor h11 net commluad to tho ropo!r or raatcrat!on ol tho Proparly •hall ba uaod llral to pny any amount awing lo Landor
under thl1t Morraaaa, than to pay accnJod Into roar, and· tho romn!ndor, JI eriv, 1holl bo oppl!ad to Iha principal balcnca of Iha
!ndobtodnoss, JC.Landor holds any pr~coods airer payment In full of tho lndobtodnou, such proceeds shcQ be paid to Granter as
Grantor's !nroroata moy oppoar, - · · · · ·
LENDER'S EXPENDITURES,. II Granter rol!a fAI to koop tho Propcit'I' lroo of ell toxoa, Iron,, ioaurrty lntoroata, o,icumbrancoo,' ond other
cfolma, . (Bl •to provldo ony roqu!rod lnsuronco on tho Proporty, or (CJ · to moko rcpo!ra lo tho Proporty lhon Lendor may do ao; If ony

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. action or procaodlng Is oommancod that would mator!all'f 1llcct Londcr'.2 lntorosts In tho. Praporty, than Landor on Grontor'• boha!I may,:
but Ii not required to, toka any cation that Lcndor.bollovos la ba approprlata to protoct londor'a lntoroatc, ·All oxponsc, lnournd or paid by
Landor fer cuch purpcaca wlll thon boar lntoroot at tho rato choroad undor tho Crodlr Agreomont from tho data !nourrcd or paid by Lendor to
tho dalo of rcpaymont by Granter,. AU i:uch axpon,os wm bocomo o part al tho lndobtodno,s om!, at Lander's opUon, wlll !Al bo payabla
, on domand; , (Bl · bo cddod lo tho balance of tho Crodlt Agroomont and bo oppcrtlonod among and bo payob!o wllh any lnstallmont
poymonta to bocomo duo durlno olthor (1) tha ·torm of any applloobla !nauranoa poIToy; or (21 tho romoln!ng term of tho Credit

O
Agraomenti or (CJ be lroatod ea a balloon povmant which wll! bo duo and payablo at Ilia Cm!lt Aoraamonl'1 molurlcy, Tho Mor1g1ga 1l10
wlll socura paymonl ol tho so amounts, Tho r!ghta provided for In this paragraph shall bo In addition to anv othor rights or any romod!o, to
which Landor may ba antlUod on account al any doloult, · Any such actlon by Landor ahall not bo cansuuod as curlno 1Jla dolault 10 a, to
bar lender from any romody that Ir othoiwl10 would have had, . . . ,.

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-'1'
•.
WARRANtY1 DEFENSE OF lll'LE, Th• follaw!no provlsloni rolatlno to own era hip ol tho Prapott'( ora a port or this Mcrtaaoc:
llllo. Granter warrants that: l•I Granter holda good and markotoblo tltlo of rocord to tho Property In ioa slmp!a; froo and cloor of all
Rona and oncumbroncoa othor than thoaa 101 lorlh In tho Roof Property doacrlptlcn or In any !Illa lnauronco pofioy, tlllo report, or ffnol
Ullo opinion lssuod In favor or, and accoptod by, Landor In oannoctlon whh this Martgaao, and lbl Grantor has the lull right, powor,

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and authorlly to oxocuro and dallvcr th!, Mortgaao to Lander, · · · · · · · ·
Dofcnso iif llt!o, SubJoct to tho oxccptlon In tho pai.lgropll abovo, Gr~ntor warrants and wll! fcrovor dofond the !Illa to tho Property
, against Iha lowlul clolmc al all parsons, In tho ovont any action or procoadrno la ccmmancod ttlot queatlona Granror', 111!0 or tho
lntoreat al Landor undor ttJo Mongogo, Grimier 1holl dolond tho action at Grsnlor'a oxponsa, ·.Grontor may bo tho nom!nal puny In
auch prccoodlng, bul Landor oholl bo ont!tlod 10 portlclpoto In Iha pracoodlno ond la ba renresonlod In tho procoodlng by coun,ol or
Londor's own cho!co, and Granter will doUvar, or cau10 to bo dellvorod, to Landor ,uch lnsuumantc H Landor may roquost from !Imo
to tlmo to pormll 1uch port!c!potlon, · · ·
FI
Complianco With Lowa. Granter worronto lhal tho Propony end Granter•, uso al ·tho P(opoftY comptraa wilh all axlst!na epplloab!a
low,, ord!noncos, ■ nd reoulotlons of ocvornmcntol autho1itlo:.
•Survival-~, Prc~laas. ·l\ll promleoo, agr~omontc, and 'ctatomonts Grantor ho: mode In tt,lo Mortgago 1hoU ~urvlvo Iha axocutlon and .
dallvor)' ol thl• Marlgogo;. shall bo continuing In nalllro. and shall ramoln In full forca and olleat untn auch limo or Borrowor',
TI

lndebt~dnoss !: paid In full, ·

CONDEMNATIDll, Toa lolrow!no provisions re!atrn11 ta ccndoninotlon prccoodlng, uro o part or thla Mor111oool:
Procoodlnoi, II any procoodlna In condomnotlon I• nrad, Grontor iitioll promptly notllv lonclor In writing, end Granter shall P.rompll'/
taka ouch 1top1 01 moy bo neocaaor{to doloncl tho action and obtain tho award, Granto, may ba tho nomlno! pany'ln ,uch
ER

proooodlno, but Landor 1holl bo cnllt!ed to parllclpeta 111 th• pracoodlng and to bo roprocontod 111 Iha prccoodfng J,y coun10l of II• own ,
cholco, ond Grontor wfll do!ivor or coti,o ta bo dcllverod lo Landor 1uch lnatrumonta and documantol!on a1 moy bo requostod by ,
londor from t!mo ta limo to pormll ,uch pantcrpatlcn,
.Appllcotlon al tl•I Procoeds, If all or any part ol tho Prcporty 11 condomnod by omlnimt domain prooood!nga or by.any procoodlno or·
, purchasa In llou of condomnatlon. lonclor may ot l1s o!aotlcn roqulro that all or any "portion or tho net proceod1 al the award ba oppllod
lo tho lndobtodnooo or tho repair or rostorallon of tho Propony, TJio not procoods al the award shall moan tho award airer paymont al ·
aU reo_acneblo coatr, o:iponsos, 1111d attamay,• loo: lnourrod by lon_da! In connacl!on with l~o condof11natlan. · · ·
C

IMPOsmoN OF TAXES,' FEES .AND CHARGES IIY GOVERIIMENTAL AUTTIORITIES, Tho followlng provb!ons rololln; to gcvornmantal
laxes, Icon and ohargos ora a port of th!, Mcrtgngo: - · · · · ·
c;,rrcnt Taxes, Foos end Chcrgoi. Upon requc,t by Lendor; Granier ■horl exccuta' ouch documonts In cddlllon ta this Martgago end
, taka whntavor othor action Is roquostad by L,,ndar to perloot and continua londor'a lion on tho Roal Prcport'/, Grantor 1holl ra!mburuu ,
A

L,,ndor for. •II toxai, ea doacr!bod below, togolhar. with all axponsos lncurrod In· roocrdlng, parfootino or conllnulng this Mct1111ao,
Including without llmllollan a!l lnlang!b!o porsonol prcpony toxa,, dcu:umonmy stomp toxos, looa, and othor ohoroos for rocordlno or •
rcg!storlng this Mortgage, · . . _ • .
Taxa~. · Tho lollowlng shall c:onsUtutc toxcs to which this section oppllos; 111 • spocllto tax, Including v,lthoui limitation an lnionolblo
T

personal property tax, upori Ihle typo of Morrgoga. or upon ell ct ony port or 1110 · lndobtcdnaos aocurod by thl! Mortoogo; .(21 a
apcc!llc tax on Bcrrowor which Borrower I• oulharlud or roqulrad ta doduct from paymonts on th• lndobtadnoss secured by this typo
, al Mortgaoo: 131 a 1o_x on thb typo of Mortoaaa chargaoblo agolnat tho Lendor er Iha ho!dor of tho crodrt Agroorriont; ond 141 , a
spcollic IO>c on •II or uny port!on·or tho lndobtodnoa~ ar en poymonta ol prlnc!pol encl lntoraal mado by Borrowor, : · •
O

Subsoquont Toxos •.. II 11ny tax to which thlo noctlon oppllaa Is ~noolod aubaoquanl to tho data of lhl! Mcrtgago, lhl• ovonl ahell hova
tho uamo olloct as on Evant of DolauU, end Landor may oxarclso any or eU ol Its avetrab!o romodlos lor an Evant of Dofoult 01
· provldod below union Gr,intor cllhor 111 pays Iha lax boloro It bccomoa dollnquonl, or 121 ccnlaUa tho tax ou provldad ebove In tho
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T•x~s an~ Uons soctlan un_d doposllc with Landor cueh or II auJnclont carporata •~roly bcn<I_ or othar sacu1ll'( nllslaccory to Lund or,
SECURITY AGREEMENT; flNANCING STAl'EMENTS, The ra:rowlno provlalon1 rolntlng la this Mortao110 as a aacurlly agroament era a port
ol lhl-1: M_ortgago:, · · · ·
Soctirlty l\groe-mant. Thio lnctrumont chaU conotrtuio a Soi:uruv Aoroom~nt ia tho oxtont ony or tho-Propo11y constllUloa nx1ura•, and
Landor shelf hnvo all or tho rlahts al a aocurod party under tho Unllcrm Cammorclol Coda u omondod from tlmo to !Imo,
Gocurlly lnioroai, Upon rc.quoat by Lendor, Granter ,h.·11 tok'a whotovar action 11 ·raquoatad by londorto-porraol end continua Lomior'a
, security Interest In Iha Porsonal Property.· In cddlllon la rocord!na th!a Mcrtoooo In tho real proporly rooord,, Lander may, at any tlma
and without further authorization lrom Granier, nro oxoou1ad oountorpons, ccplop or reproductions ol th!, Morrgaga es a financing
slalomant, Granter shall rolmburua Landor lor all oicponaoa lnourrod In porloct!ng or ocnllnulno th!• ,ocurlty lntorcsl. Upon dolault,.
Granter ,hall ncl rer110va, GOVor or dotoch tho Por<onol Proportv from tho Proporcy,. Upon dolault, Granter nh•ll ouomblo any Poracnol
• Property not alOxod to tho Property In u mannar1nd at a ploca rooacnably canvonlont lo Granter end Landor end moko II ovaUoblo ta
Londor wilh!n thrco 131. daya altar receipt al wrllton dom•nd from lander to tho oxtanl pormlllod b)'. appllccblo low! .
Addrouos. Thu monina oddronoa ol Gronior (debtor! arid Lendor (:ioourod. party! from which lnlonnatlon concornlng tho aocurlty
lntorosl granlod by this Molloo110 may bo obtolnod (ooch oi roqu!rod by tho Unllcrm Ccmmorclol Ccdol aro no atntod on tho Prot paao
_al lh!s_Mcrtgago, · . · · · ·'
fURTHEll'ASSUMNCES; AlTOnNEY•lll-FACT'; Tho foliaw!ng prcv!elon1 raiotlng ta 1u,1hcr muranaoa iind euornay,io-raot era a pall ~r,
this Mcrtgngo: · · · · · · ··

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MORTGAGE
(Continued_) Poge ~-

. furthor A.. uronac,, ·Al uny tlm11, 11nd from llma 10 t1ma, upon roquoat of ~•ndcr, Grontor Will moko, oxeculo ond deliver, er wni cauaa
to ho mado, oxocutod or dol!vorod, lo lander or to Landor•• doalanoo, and when raquo,ted by Landor, ceuso to be IUad, raoordad,
rolllod, or rorooordod, oa Iha coco moy bo, at D\IOh trm•• end In such olllcas and pl•cas as Landor may doom app1op1!0to, ony and ell
ouch mollgogcs, daod1 or lrusl, caourlly doed,, ,acurlly egroomanlc, financing statomontc, continuation •l•tomonta, lnstrumonla of
fur1hor o,surenea, cor1lllcatoa, and olhor documanll 01 rnoy, In lh• ■ ala opinion of Landor, ba,nooa ■ sory or doalroblo In ordar to
affaotuoto,· oomplalo, pcrfoat, continua, or proaarvo 111 Barrowar'• end Gr•ntar'• obllgatlans under tho Cradft Agraamonl, this
Martgago,· and Iha nalatod Dacumant,~ and , 121 tho llons ond socurlty lntorosls crootad by this Mongaga ns IIISI end prior !Ions en
tho Praparty, whclhor now owned or h0roof1cr acqultnd by Grontor, Unloas prohlbltad bV law or Landor aaroaa to tho contrary In
writing, Granlor sholl rolmbur,a Landor far oil casts and al<J)1n1u · rncurrod In connection wllh tho mauara rolorml to In, 1h11
porogroph; _ . . . .• . . _·_. . . .
Allornoy-ln•Foct; II Granter lolls 10 do any al Iha thlnas relerrod ta In the prccodin.9 poragioph, Landor moy do,,; for ond In Iha noma
, al Grenier and ot Grantor's axponso, for such purposoJ, Gronlor horoby lrrovacably appoint, Landor u Grontor'a atlarnoy-ln-fact far.
tho purpaso ol making, axocutlng, dallvorfng, filing, recording, and dolng all olhor things III may bo nocoaaory or do11/ablo,· 1n londor'c ·.

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solo oplnlan; to 11ccompll1h Iha mottora ralorrad to In tho procedlng paragroph, ·· • •
FULL'PERFDRMMJCE. If Bor/o....;cr iin·d-_Grantai- pay all tho lndobtodnaaa whan duo, tannlnatai tho credit Una occowit, and Gran10i-
0lhorwl10 porlorm• oll Iha obllgotlqna lmpoaad upon Grontar under th!■ Mortooaa, lander shall axocula end doUvar ta Granter e 1ul1abto
aotlolactlon of lhta Mcngogo and oultoblo atotomonts of tormlnatton of any nnariclng atatomont on nlo ovldonclng Landor', sacurily lnlorast.,
·. In tho Rents and tho Par•anal Praporty; Grantor will pay," If pormlllod by oppllcoblo low, ony_raoaonoblo to1ml11al!011 foa ca dotormlnod by
Lender from tlma to trmo, - · · ·

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EVENTS OF DEFAULT, llroniar wlll bo 111 daloult undor this Manoago II any of Iha iollowlnii hoppan: · IAI Granier commit• lraud or mokoa ·
a m0101!0I mlstopronntotlon at any tlma In ccinnoctlon w!lh th• C1odlt Aaroomcnr. This can Include, for oxomplc, a falso sutomont about
· Darrower'r or Granl01's lncomo, assau, llnblllllu, or any othor ospoots of Borrower'• or Grnntor'a fli;ianclal condition, IBI Borrawor dcoa

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not moot tho ropaymcnt torm• of tho Cradlt Agraomoni. (Cl Granta1'• action or lnaollon advoraoly arroct1 tho collalarel or Landor'■ rrahts
In tho collatarol; This can lncruda, for DllDmpla, lalluro to malntnln raqu!rod lnsuronca, wa■ la or dostruoUvo u,o of tho dwc!Ung, lil!fura ta
pay taxu, death of elf paraons Uablo on tha account, lronslor of tltlo or solo al tho dwolllng; croatlon of II sanlor !Ian on tho dwolllng
wl1ho111 Londar'a parml..lon, foreclasuro by the holder of anolhar Uon, or Iha vao ol runda or Iha dwoTilno forprohtbflod pllrposoa, •
n!GHTS AND "itEMEDIES ON DEFAULT, Upon tho ocourron~n al on Eva~t ai Default and ar any i1~0-1horaor11ir, Landor, 01 Landei•s option,

ED
may oxorcl!o any ona or moro of Iha lollowlno right ■ and romodlor, In 1ddltlon ta any othor rights or romoc!lor provl~ad by law:
Accelerate fndablad11010, ~ondor ,hall havo tho 1!9fit ot 111 option without noUco. la Granicirta d0cla10 Iha onllio lndablodnoos
lmmadlaloly dua end payable, lnoludlng ony p1opaymcnt panolty wMch Granter would bo required lo pay, ·
u·cc R;rnodla1, · with ro~poct to oil ~r any pail of lh~ Pa·r•anol Praporly, londor ;hall havo all tho rlahts ~~d ramodles al a iiocurad
0

pony undar tha Unllorm Coll!morclal Code,, · · . · • ·

FI
• Appoint ni.ccivcr, Lendor shall hava tho 1!9h1 lo havo Dracolvor appolntod ID toko ponosolan or, cir or anv part of tho Ptopany, Wllh
1 Iha power to proloct and prasorvo Iha Proparty, to oporata Iha Property pracodlng foroclonuro or solo, and to calloct tho nonls from
tho Proparty end opply tho proooado, ovor and abavo Iha cost of tho rocclvor•hlp, agolnst tho lndcbladno,s,. Tha rccelvor rnoy servo
. without bond II pormlned by Jaw, Under'■ right 10 Iha appointment of a recclvor shaU axlst wholhor or not tho'appsrant valuo of tha
Property e,ccoad, tho l11dob1adna1s by a subsllnllal amount. Employmanl by lender ahan not dlsquallly a p011on from aarvlng aa 11
recolvar, · · . · · · .
TI

, j11dlolal Fareclosu1a, lcn_dar may obtain a Judicial ilo_croo l~rocloaina Gronioi•~ l!lioraat In all or any pa~ of the P10p_urty,
Dallcloncy Judgment. II pormlltod by ~ppllcablo law, Landor moy obtain o Judamont for any dollclancy roinolnlnsi In tho lndoblodnoia
dua to Landor •!tor •pplloallon of oll emounta rocalvad from Iha oxarolso of Iha rights provldad In this ooatlan, · •·
In
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Tannnay DI Sulfcriinaa, II Gr~ntor romolns pm~a'a!an of tha Propa11y ollor tho Propaity j; sold aa provldod obovo or Londor
· olhorwlso bocoma3 onllllod to poseaselon al tho Prop orly upon default ol Grantor, Granter shell bacomo II tenant at ,ullcranoo of
Lander or tho purchoear al Iha Propony and ahall, ot lcinder':i apllon, clthar· 111 poy a raasonabla rental for tho u,o of IM Prapony, or
(21 vaoato tho Proporty lmmodrotely upon tho demand of Lander, · · ·· · · ·
Other Remedloo, Landor shell hava ,n other rlahls arid roinodlos pravldod lri thl1 M01111ait0 or Iha Cradlt l\graan,ant or avollobla 111 iaw
or In equity, ·· . · · _ .
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Sola of Iha Property, Ta tho aJCtcnt permlttad by oppllcoblo !Gw, Borrowor.and Grontar horoby woivo any and all right to have tho
I .Proporty marshollc\f,. In exercising Its rlaht• and rarnodla,, Landor aha If ba fros to aoll ell or eny part of tho Proporly togathor or
.,I Gaporataly, 111 ona BB!o or by eaparoto solos, Londor shall ba onllllod ta bid or nnypublla sala on all or any portion of tho Prop_orty, ·
I . Nollco of Sala;· Landor WIii glva Granter rcuanoblo notlc~ of tho time cnd ploco of any publlc ,ala of tho Paraanal Property or of tho
limo alta(whlch eny prlvata nlo or othar lnlandod dl1p0alllon al the Para anal Property I• to ba mada, · Rononoblo nallao ,hall maen
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notlca glvan at loaJt ton 1101 doya bolero Iha time or tho aelo or disposition, Any 10!0 al.tho Porsonal Proparty may b• mndo In
conjunction with any 10!0 of the Rael Proparty, -; · ··· · · · · · · ,
Elaotlon of namedlu, All of Lendor'• rights end 1emedlc1 wlll ba cumula1lvii and may bo axorolsod olono or togothar, An alocilan by
londar to chooea env ano ramady wnt not bar londar. from udno ony 01har ramady, If Lendor docldo1 10 upond monay or to parlarm
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•nv al Grantor's obllgollona undor Ihle Mangaga, altar Groolar'a lollvra to do ,a, that decision by Lander wlll not •ffacl lander's 1i9ht •
to docloro Grontor In dafaull and 10 01<orclsa Londor'o romodloa, · · · · ·· · • .. · ·
Allamoy,• Faas1 Exponoaa, 11 Landor ln•tltut01 any- eult or a~tlan. lo cnfo/ca any of tho lorms al thb Mallgcgo, Lcndai shall ba
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onllllad to rocovar ouch aum aa tho court moy adJudoa rononabla as ollomays' fao:i at trl•I and upon any appeal, Wrnllhor er not any
court action lo lnvolvad, end to tho axtant not prahlbllod by Jaw, ell roaaonablo axponsos Landor Incur, lhal In londar'1 opinion aro
nacusory at any time for th• prolocllon of 111 lntoroat or Iha cnfo1cemont 01111 ifoh11 ehall b1como B part of tho lndobtodnass poyablo
on demand and •h•U boar lntarael at tho Credit Agroemont rota from tho data of .tho oxpondlluro until rapald, El<pon1a1 oovarod by '
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Ihle paraaroph lnoluda, wl1h0u1 llmlratlon, however sub)cct to any llrnlls under appllcoblo law, Lendor'• ro01011abla allornaya' (D01 and
londer'a ·logal axponsas, wholher or not"thoro la o lawaull; lncl11dln9 rauaneblo ouomoyo' faoa and axpcn•as far bcnkruptay
proceadlnas (lnolud!na olforto to modlly· or vooota any outomallc otoy or lnlunallon), oppaols, and 011y nntlclpotad posl•ludgmanl
collootlon soiv!cau, tho coot cf aocrchlng rooards,. obtaining tltla, report• l\neludlng faroclo,ura roport1I, 1U1Yoyor1 1 raports, emf 1
opprolaol loDD and llllo ln,uro11ca, ta tho oxtonl pcrm!Ucd by applfcoblo low, Gr•nlar o!,o wlll poy any court 00111, In addlllon lo ull
other sums provided by law, · ·· . · · ·· · ·· · :
tlOTICES, Any noliao roqulrod to bis glvon undor this Martgago, lnaludlng without llmllallan any 1101!0°0 of dofoult and oily nallco o'r aala
' ah•ll bo glva11 In wrltlno, and ahaQ bo olfoctlve whon oc1u1lly doITvorod, when actually racolvcd by tololacalmllo (unloaa otharv1!1a raqulrad
by lawJ, whon dapo:llad with a nellanoffy racognliod overnight cavrlor, or, II maUad, whan dapooltod In Iha Unllod Slaloa mall, as nm
0!1ur, cardlfad or roglstorcd mall po,t•aa propald,· dlroetod ta th• addre1101 1hown noar Iha bgglnnlno or thla Mortgcga, Any parson may
• oh•nga Ids or har addrou for nollcoc vndar th!, Mortaoao by 0Mn9 wrlllon natlca to Iha athor por,an er persons, specifying thcl tho
pUrposa of tha·nallco la to chonga tho poroon'a addr••••! Far natico purpose,, Gr•ntor egroa, to kaop Lendor lnlormod o\ all tlmoa of
Grontar'a ourrant addrau, Unless athorwlsa provldad or roqulrod by low, If there Is mare then ona Granter, eny notlca olvon by loridar to
ony Grentcr Is d~arnad lo ba notlca given lo all Granter,, II wlll bo Grantor'• roeponslblllly 10 toll tho othor, cf tha nolloa from Landor.
MISCELLANEOUS PROVISIONS,. Tho ,~110v1ln9 mlscollanoou~ provlalona dra a part or thlo M01lgogo1 . . . . .
Amondmant■, .What 1, wr!Uan In Ihle Mortaaga •nd In tho Rolatod D00umon11 la Grontor'a anilra ogroomonl \'lllh lander concerning
I the rn1111rs covarod by lhls Martgaga,. To ba clfoctlvo, any ohonga or cmandmont 10 this M01111oga mu,t ba In wrlllno and must bo
I slanad by whoever will bo bound er obllgatad by lh~ changa or a·rnandmcnt, ·
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,MORTGAGE
, (Continued).' Pogo 5,

captlo11 }{oai!in11•• C1plion handing, In 1hls Mor1goga era for convonlonca purpauoo only and or• not 10 bo ueod 10 lntorprat er dol!no ,
tho provldons cf thin Mortaaaa, · · ·· · · · · · · ·· . · · · ·
· Govo111lno Low. Thia rnarraaac.wlll be gavornod by lodcral law appllcabfo 10 Landor and, ·10 uio oxtoni nol pr•omptod by Jodoraf.l:iw,
tho lawo of tho Slalo of Florido wjlllaul regord lo ii• 0011ITToto of low p1ovf,lon,, Thi> l/lortgoaa has boon pooaplod by Landor In !ho •
Slota of Rorida, · · · · ·· · · · · · .. '
' Cholc:i ol Vanuci, fl thoro is a loweult, Grantor agrcci upon Landoi'; rcqUD$l to submli io Iha (url~dl01ion of Iha ·oourlt oi Mloml·Dodo
. Coun1y,' Slota al Flori~•• · ·· - · ·
,, , Joint and Several itablllly. All oblrgatlonc of Dorrowar ond Grontor under lhls Mortgago choll bo Joint und iovoral, and all rofaroncaa to
! Grontor ,hall moon oooh ond ovary Grontor, ond ell raloroncoa to Borrowor shall moon oach end ovary Borrower, · Thia moans that
oooh Borrowor and Grcntor algnlno below la raaponslblo r~r all ebllgallons In lhli Mortonoo, · · · · · ·
No Waiver by Landor. Granter undoraionda Londar WIii not oiva up any cl Londor'a ·rlahto under this Mortgago union Londar dooo ao

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In writing, Th• !act that Londor dol~ys or emlls to oxorolsa eny right wnl not moan lhat Landor hes given up lhat right,, 11 landor does
, ogroa In writing to glvo up ono of Landar's right,, that dooa not mean Granter wm not hovo to comply With tho othor provlalona or thlo
Moito~oo; · Granter al,o undoratanda that II Landor dooa oon,ant to a roquost, that does not moan lhat Grantor wlrt not hava to got
· Londcr'a connnt ogcln rr Iha allUatlon happana ogafn, Grantor rur1hor undarstands that lust bacouso Lendor aonsanls to ono or mara
ar Grantor'i, roqunto, that doc~ not moan Landor wlll ba roqulrod to con1onl to ony al Grantar•a (utun, roqucata, Granter walvoo
pra,antmonl, dcmond for paymont; prolcat, ond nollco of dlahonor, . · . ·
a

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Scvorabltlly. ii i:ourr llnda that any prcvlalon oil thlp tionoooo Is not valid or ehould not bo onlorcod, that fact by ltsolf wDI not moan
that tho rust cl this Mortgobo WIii not bo valld or unforcod, · Thoroloro, a court wlll an!oroa tho rest al tho provisions cf this Mortgogo
ov~n II a proylslon al this Mortgogo may ~o found lf:> bo lnv~lld orunonlorcooblo, · ·
Morger,. Thare'vhllll ba no morgor of.tho lntorcst or ostata croatoci by thl1 Mortoaao with any olhor intoroal or oatoto In Iha Propony

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ot any tlmo hold by o! lor tho banolit of Lendor In o_ny c1p1clty1 without th• wrtttan 00n1ont al Lendor, · . ·_ ·
Succci11ora and A11lgn,, SubJoct to any llmltc1l0113 21atocl In lhls Mortgogo on tronaror al Orantor'a lntoroaf, thla Mortgaga ahotl ba
binding upon end lnuro to tho bonolll al tho panics, their auccoaacrs and eaalgn,; U ownarahlp ol lho Proporly bocamoc Voctod In o
porton othor lhan Granier, Londor, without noUco lo Granter, may deal with Grantor's succossarii with rolorenca to this Mortaaou and

ED
lho lndobtodnoca by way al lorboaranco or oxtonsl011 wl1h0111 rolooslno Granter from tho obllaa1lons of 1hlo Mortaaoo or Uobl/l1y undar
,I Iha fndcbtadnoss. · · ·· · · .• · · ·
limo fc or' tho Eucnca, Tl'!'o Is al tho occonca In tho porlorma_nco of thin M~rlgogo,
Wahri Jury, Ari'partic, to thla Marlgogo hereby wotva lho llght to riny fury 1rlol In any action, pracaodlng, or counterclnlm brought by
any party ogolnslDny othar party.· (Initial Hora · ' I - · · · · ·
DEFINITIONS. n,o rotlowlno wafds shall hovo th~ lollcwln~ moanlnoa Wh•ri lmd In this Mortgoao:
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• Borrower, Tho word "Dorrowcr• moans Louronco Schnoldor' and lncludo1 oil aci,algnora end 00-makora signing tho Cradll Agreomant.
and all tholr 1ucco1101c end oaalgna,
Credit Agraomont.. Tho words •crodlt Agroomont• moan tho crodlt, agreemont daiad 'July 28, 2006, with credit. limit· of
81,500,000.00 from Dotrowor .to Landor, togathor with .ell·ronawal• of, exlon•lons of, modillaatlons ar, ror111onolno• of,,
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,con1olldotfon• or, end 1uba1ltullons for tho promissory nota or oaraomonr, 'l'ha llnel maturity data ·or tho Crodlt Agreomonr 11 July 2B, ·
201B, NOTICE TO ORANTOR: THE CREDIT AGREEMENT CONTAIIIS A VARIABLE INTEREST RATE~ .
E'nvlronmcintol Laws. ,Tho wards "Envlronmontol law.c" moan ony ond all 1tato, radorol and loool iitoluloo, ragufollon1 end oidlnanaoa
relating ta tho protaollon al· human hoallh · or tho onvlronmont, fncludlng without limllallon Iha Comprahrnslvo E'nvir~nmantel
Ra&ponao, Companaatlan, end Uobllhy Act ol 1080, au omondad, 42 U,s,c. Section 9601, ot eoq, ("CERCLA"I, Iha Suporfund ·
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,Amondmanti and /loauthorlzatlon Act al 1988, Pub. L. No. 90•489 ('SARA •1, Iha Hazardous Motorlal1 Transpbrtotlon Acl, 49 U,s.c•
.Saclion 1B01, al seq,, tho Rosourco Conaorvetlon and Reoovorv Act, 42.U,S,C, Section 6801, ct nq., or other appRoablo s1010· or
!•f er•llows, rut~,, er rooulollonaadoplod pureuent t~r•!a• · _· . .. . · _ _ .. ·
.Event of Do!ault. Tho words "Evont of Default" maen any ol tho ovonls or du fault set forth In thl, Mortg•gc In thu ovonts of dufaulr
!oc1l011 ar thlo Mortgage,
.Oran tar•. Tho word _.Grontar• moon a Louronco Schnolclor and Stophunla Schnofdor. ,
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Houm!ou,· Subi.tanco~. Tho wordo ~Hozerdou1 suii,tancas• moon metorids lliot, bocousa · er tho!r quantity, concontrallan or
phy,lcal, chomlcel or. lnfocllous characteristics, moy couso or poso a prosont or potontlal hazard 10 humon hoollh or tho snvlronmant
whon lmpropo,ly Usod, troetocl, storod, disposed of, ganorolod,. monufoc1urad, 1r1111portad er othonvfao handled,. Tho ward:
"Hnordous Subatnncoa• oro used lri their von• broadest ecnso and Include wlthout·Umltollon ony·and·aU'hazardou1 or toxic
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· aub;tancn, motorial, or waato oa defined bV or Pstod _undor-tl\o Envlronmontal Lowa, Tho term •Hazardous Subatonooa• also
lncludoe, Without trmltation, potroloum and potroloum by-products or any frcotlon thoreor and aoboatoe, .
lmpiovornonts. Tho word "lmprovoments~ moons all oxlstlno end futirro lmprova~ont;, buPdlng,; alr~~lures, mobllo homos atnxod en
Iha Root Pr~porty! facl1ttiC11, oddlllons,· roplacomonta end athor ·conell\lollon on lho Ruel Proporly. ·
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lndobtcdnc..-. Tho wo;d "lndoblodnoss• moana eP principal, fntorosi, iind cthor amount,, costs end oxponns payoblo undor· 1ho
Crodlt Aorooment or Rolotod Oocumonta, tooothar with all ronawel1, or, oxton.ron, of; modlflcoUoni: al, consollclctlons cf and .
aubJtltuUons for th• Cradlt Agroomont or Related Oocumen!, encl any omounli expondod or cdvonood by Landor to d!echargo
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I · Grentor'o obligations or expon,oo Incurred by Lomlor to onrarco Granter'• abllgotlon, under thlo Mortoooo, togothor with fnloroat an·.
I ,uch omaunts us provldod In thlo Motlgooa, · ·• ·
Landor, Tho word "Lcndai• moan2 Bank al Coral Gobloo, Ila auocosaora and 11ulami; ,Tho wari:ra •.succanors or assigns• moan any ·
pouon or company that ocqulroa anv 111101111 In thii Credit Agrcamcnt._
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I: Mortgaga. 'Tho word "Mortgogo" moons thls Mcrtgogo botwoan Granter end Landor;
Personal Prop~rty: . lha· word~ "Po~oo~cl Piop-orty• moon ·011 oqulp,;;ont, llxtuia,, onci aihor ortlcics oi poraonal property JIOW or
• ' horooltor·awnod bV 'Gro·n1or, and now or horoollor ollachod or alllxod to tho Roal Ploparlv: tagothar with alt ocoeoslona;pons, ona. •
· oddlllona to, an roplooomonts or, ond oil aubatltutlona for, any of ouch proporty; and logo\hor With otf prooaudo (lnoludlng without.
llmltallon on fnsuronca procoodc and rorund■ of premiums) lrom eny ulo or otherdlspas(llon of tho Property, · .
. Property,. Tho weird "Properly" moono ccllactivoly iha Ra•I Pri>porty rind tho Pors~nol Property. . . . •. •
~••I Propiuty." Tho words "fl••l Praportv" moan tho raal propa11y, Interests a'!d fight,, u rurihor do~orlbod fn this Mong ego,
Rolaieil Dooumeni,. Tho words "Rololod Oocumonti• maori an promlaaory notn, crodlr ogroomonts,' loen n11room~n1.s, rinvlronrnontol
aarccmon1s; guarenllaa; aocurlty Dijroamonta,- mortgagoo, dood• al trust,· ~ocurlry doodo, collotorol mortoogoo, and oU othar
-lnstrumont~,.~groomonte and documonta, whothornow arh.oroaftcr el\lsllng, oxacutod In aonnocllon with Iha fndobt1dno,1,.

I
. Rania •. Tho word •nont•· nioana all praso111 and Mura ronis, rovonues, lncomo, biiuoa, royohtos, pr;111,, and other bonollta dodva·d
(ram tho Pro pony,. · · · , · ·

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, . ,...

MORTGAGE
(Continuod)- · Pogo 6

·•
.I EACH GIIANTOR ACKNOW~EDGES
.
TERMS, . HAVING
.. R£AD . . THE
. . . Ali. . . PllOVlsioNs OF THIS l'.iofrraAm,, AND
. EACH ORANTOR
..AGREES TO ITS'

GllANTORI
:I :._ ~-

:x...,....__.,,...,,--,,...,...--------~----~----
Lauranc.-schnc1du

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. Stoph•nlo Schneld•r

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INDIVIDUAL- ACICI\IOWLEDGMENT

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STATE OF /dP&t.711/:
coiJIITY OF --~ Ae ~
mo ~.J/.. day
ai_·_:--r-""';f.'"' .-rJ~a.,,_,__-,______,: 2ocr (;
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Tho r~reooi~g lnclrumont was acknowledged bafora 1h11 .,1
bV Lau~c,noldar and Stqphanlo Scllncider, who mro porsonallv ~nown to mo or who hovo PIC\duac'd_~iU=··=o""µ.~-o~4-----
=i;>ll,~ · ,1,(!UM,,tA - · u ldentlflcnllan and did/ did n to~a
o4n ~
o \ e~~ .

~
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¥&'f$frioAc_1cnowlcdoll1antl
:"'TMY PUDUC-Si'All! OP FLORIDA
_ld1. Morag R. Alexander .IN•m11 or A•knowlade•r Typed, P1lntod or Slomp!dl
ER

t§7Comm!sslon #DD524lPS.
Expires: MAR. DJ, 2010 ITllfo er flank!
· ~ndcd 'lhni Atlant!c JlondL1& Ca~ Jnr.·

(S01111 Numb01, If anyJ ·

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