APPENDIX I

Gillespie Complaint to HUD, August 9, 2012

U.S. Department of Housing and Urban Development (HUD)
RE: Reverse Mortgage Solutions, acct./loan no. 68011002615899
Exhibit 1

Assignment of Mortgage to Reverse Mortgage Solutions, Mar-27-2012

Exhibit 2

Assignment of Deed to Bank of America, Jun-03-2008 (unlawful)

Exhibit 3

Notice of Assignment, Sale or Transfer, Servicing Rights, Jun-03-2008 (unlawful)

Exhibit 4

Direct Endorsement Allonge, to Bank of America, May 29, 2008 (unlawful)

Exhibit 5

Residential Loan Application for HECM Reverse Mortgage, June 5, 2008

Exhibit 6

Financial Title Company, Borrower's Escrow Instructions, May 28, 2008

Exhibit 7

Residential Loan Application for HECM Reverse Mortgage, April 25, 2008

Exhibit 8

Park Ave. Bank, Liz Baize letter with documents to Neil Gillespie

Exhibit 9

HECM First Mortgage, June 5, 2008, WITHOUT interlineation

Exhibit 10

HECM Second Mortgage, June 5, 2008, WITHOUT interlineation

Exhibit 11

HECM First Note, June 5, 2008

Exhibit 12

HECM Second Note, June 5, 2008

Exhibit 13

Quit-Claim Deed, June 5, 2008

Exhibit 14

Certificate of HECM Counseling package, Susan Gray-CCCS-MMI, Apr-23-2008

Exhibit 15

Certificate of HECM Counseling, signed, April 25, 2008

Exhibit 16

The Reverse Mortgage Analyst, April 25, 2008

Exhibit 17

Liberty Rev. Mort, Re-disclosed Calculations, May 16, 2008

Exhibit 18

The Reverse Mortgage Analyst, June 5, 2008

Exhibit 19

Financial Title Co., Buyers-Borrower's Closing Statement, FINAL, May-29-2008

Exhibit 20

HUD Buyers-Borrowers Closing Statement, Faxed, Fatima Pacheco, May 28, 2008

Exhibit 21

Richard T. Kwiatkowski, business card, Have Seal - Will Travel, LLC.

Recording Requested By:

Bank of America

Prepared By: Diana De Avila

888-603-9011

When recorded mail to:

Reverse Mortgage Solutions, Inc.

2727 Spring Creek Drive

Spring, TX 77373

111111111111~1111I11111111111111

DocID#
1266801100261589920032
Property Address:
8092 SW 115TH LOOP
OCALA, FL 34481
This space for Recorder's use

3/2712012

FLO-AM 18001254

ASSIGNMENT OF MORTGAGE
For Value Received, the undersigned holder of a Mortgage (herein "Assignor") whose address is 190 QUEEN ANNE,
NORTH SUITE 100 SEATTLE, WA 98109 does hereby grant, sell, assign, transfer and convey unto REVERSE
MORTGAGE SOLUTIONS, INC., whose address is 2727 SPRING CREEK DRIVE, SPRING, TX 77373 all
beneficial interest under that certain Mortgage described below together with the note(s) and obligations therein
described and the money due and to become due thereon with interest and all rights accrued or to accrue under said
Mortgage,
LIBERTY REVERSE MORTGAGE, INC.
PENELOPE M. GILLESPIE, INDIVIDUALLY AND AS TRUSTEE NEIL J.
GILLESPIE AND MARK GILLESPIE, AS CO-TRUSTEES OF THE GILLESPIE
FAMILY LIVING TRUST AGREEMENT DATED FEBRUARY 10, 1997
Date of Mortgage:
6/5/2008
Original Loan Amount:
$198,000.00
Recorded in Marion County, FL on: 6/25/2008, book OR 05057, page 1670 and instrument number 2008065289
Original Lender:
Original Borrower(s):

IN WITN~~S Yo!tQ::REOF, the undersigned has caused this Assignment of Mortgage to be executed on

MAR Z'/ ZOlZ

L2:0G

By

Dominique JobnsoD

Assistant Vice President

C_hest
__B_1L_9_'V_i"_g_S__

Witness:

Witness:

Edward Gallegos

State of California
County of Ventura

2012

On MAR 27
before me,
J jJ)jan JEllison
, No4U"Y Public, personally
Jane Martorana
and
O6mlnlqUe Johnson ,who proved
appeared
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that helshelthey executed the same in hislher/their authorized capacity(ies),
and that by hislher/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person
(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.

Notary Pu c:
Lillian J. Ellison
My Commission Expires: Ma!ch 13, 2015

LILLIAN J. ELLISON
C(lIMIIllion It 11256\7
. ~ Public -Cllltornit
los Angele. County.
..
M Comm. Ex 'res Mar 13. 2015

RECORDING REQUESTED BY
Liberty Reverse Mortgage, Inc.
AND WHEN RECORDED MAIL TO:
Liberty Reverse Mortgage, Inc.
10951 White Rock Road, Suite 200
Rancho Cordova, CA 95670
FHA Case Number: 091-44057411952-255
39100

Title Order Number:

FHA Originator No:
Spare '''ov' 'bj,

tinc for reCOrder's

USr

CORPORATION ASSIGNMENT OF DEED OF TRUST/MORTGAGE

FOR VALUE RECEIVED. the undersigned hereby grants, sells, assigns and transfers to
Bank of America, N.A., a National Blnking Association, whose address is 100 North Tryon Street. Charlotte, NC
28155, all beneficial interest under that Certain Deed of TrustIMongagc dated May 29, 2008 executed by Penelope M.

OiUespie, Neil J. Gillespie and Mark Gillespie, as Co-Trustees of The Gillespie Family Living Trost Agreement dated
February 10, 1997, Borrower. to Libeny Reverse Mortgage, Inc., a California Corporation, Lender, and recorded

concurrently herewith in the County Recorder's office of Marion County, FL, describing land therein as:
Legal Description attached h~feto as 'Exhibit AI and by this reference made a part hereof.

TOGETHER with the note or notcs therein described or referred to. the money due and to become due thereon with
interest, and all rights accrued or to accrue under said Deed of TrusVMongage.
ss~

Liberty Reverse Mortgage, Inc.

rsonally appeared _~""'_~~~_....IOoo..,;;;;;;;;,,;lI_

who proved to~
mn the basis of satisfactory evidence
to be the person( whose namecJ) i~subscribed to

th~'thin inst ment and ackJ(~w}edged to me that

h h ey execut~ the same

aut orized capacity s). and that
signaturea) on Ihe instromenl the
entity u~on behalf of which the
executed the instrument.

in hl~eVheir
by hi'
heir
person ) or the
person ,) acted,

I certify under PENALTY OF PERJURY under the

laws of the State of California that the foregoing
paragraph is true and correct.

NOTICE OF ASSIGNMENT, SALE OR TRANSFER

OF SERVICING RIGHTS
FHA Case Number: 091-4405741/952-255
Loan Number: 39100

You are hereby notified as a requirement of Section 6 of the Real Estate Settlement Procedures Act (RESPA) (12
U.S.C. I 2605) that the servicing of your mortgage loan, that is, the right to collect payments from you, is being
assigned, sold or transferred from Liberty Reverse Mortgage, Inc. to Bank of America, N.A effective June 03, 2008
The assignment, sale or transfer of the servicing of the mortgage loan does not affect any term or condition of the
mortgage instruments, other than terms directly related to the servicing of your loan.
Except in limited circumstances, the law requires that your present servicer send you this notice at least 15 days before
this effective date or at closing. Your new servicer must also send you this notice no later than 15 days after this
effective date or at closing.
Your present servicer is Liberty Reverse Mortgage, Inc. If you have any questions relating to the transfer of
servicing from your present servicer, please call the Client Relations Department at (866) 34) -0183, during normal
business hours. Jf you are unsure of your present servicer's hours of operations, please use this number for inquiry.
Your new servicer will be Bank of America, N.A. The business address and telephone number for your new servicer
is:
190 Queen Anne Ave. North Suite 400
Seattle, WA 98109
ATTN: Reverse Mortgage Servicing
(866) 863-5224
Ifyoll have any questions relating to the transfer of servicing to your new servicer, call 866-863-5224 (call collect if
not toll-free) during normal business hours. If you are unsure of your new servicer's hours of operations, please use
this number for inquiry.
The date that your present servicer will stop accepting payments from you is June 03, 2008
The date that your new servicer will start accepting payments from you is June 03, 2008
You should also be aware of the following infonnation, which is set out in more detail in Section 6 of RESPA (12
U.S.C. ' 2605):
During the 60-day period following the effective date of the transfer of the loan servicing, a loan payment received by
your old servicer before its due date may not be treated by the new loan servicer as late, and a late fee may nol be
imposed on you.
Section 6 ofRESPA (12 U.S.C. ' 2605) gives you certain consumer rights. If you send a "qualified written request" to
your loan servicer concerning the servicing of your loan, your servicer must provide you with a written
acknowledgment within 20 business days of receipt of your request. A "qualified written request" is a written
correspondence, other than notice on a payment coupon or other payment medium supplied by the servicer, which
includes your name and account number, and your reasons for the request. Not later than 60 business day after
receiving your request, your servicer must make any appropriate corrections to your accounts, and must provide you
with a written clarification regarding any dispute. During this 60-day period, your servicer may not provide
infonnation to a consumer reporting agency concerning any overdue payment related to such period or qualified written
request.
Section 6 of RESPA also provides for damages and costs for individuals or classes of individuals in circumstances
where servicers are shown to have violated the requirements of that Section. You should seek legal advice if you
believe your rights have been violated.
Liberty Reverse Mortgage Company, Inc.

By:

Title: Lender Representative

Date:

INSTRUCTIONS TO PREPARER: Delivery means placing the notice in themail.firstclasspostageprepaid.prior to 15 days before
the effective date of transfer (transferor) or prior to 15 day after the effective date of transfer (transferee). However, this notice may
be sent not more Lhan 30 days after the effective date of the transfer of servicing rights if assignment, sale or tmnsfer ofthe servicing
of the mortgage loan is preceded by tennination of the contract for servicing the loan for cause, commencement of proceedings for
bankruptcy of the servicer, or commencement of proceedings by the Federal Deposit Insurance Corporation (FDIC) or the Resolution
Trust Corporation (RTC) for conservatorship or receivership of the servicer, or an entity by which the servicer is owned or controlled.

DIRECT ENDORSEMENT ALLONGE

For purposes of further endorsement of the following described Note, this Allonge is affixed and
becomes a pennanent pan of said Note on May 29, 2008.
LOAN NUMBER:

39100

FHA CASE NUMBER:

091-4405741/952255

BORROWER(S):

Penelope Gillespie

PROPERTY ADDRESS:

8092 SW 11Sth Loop

Ocala, FL 34481

NOTEILOAN AMOUNT:

SI98,OOO.00

NOTEILOAN DATE:

May 29, 2008

PA Y TO THE ORDER OF:

Bank of America, N.A., a National Banking Association

WITHOUT RECOURSE

COMPANY NAME: Liberty Reverse Mortgage, Inc.

SIGNATURE:
NAME:
TITLE:

Residential Loan Application for Reverse Mortgages

I. Type of Mol'tgagtt Ind Term. of LcMIn

fKt\

Mortgage ApplIed for.

_ _ Home Keeper ~ame Mae)

091-.44057411962

39100

~., ._.. P1111'18:

~ Une ofCredil (not IVIII8bIe In Texas)
Jlm-r ModiIed Term (HECM ort(J

- ' - - HECM (FHA).

_ _ Other _ _

case No. (HECM)

~~_

(apedry)
CompIete HUONA Addendum

_ _ Term (tEeM only)

ModUIed Tenure

==0Iher

,~Ternn

Spedal Loan features: __ Equity Share _ _ OCher (spec:lfy):

MIortlZation Type:

---:LARM (type):
_ _fixed Rate

(lnclcate monthly or amJ8~

Month'v

Other(expIeIn):

II. Property Information

SUbjed property Address (street. dty, state. <XJUnty, and zip code):

8092 SW 115th Loop, Ocala. FL 3448~ In Marion County

Legal Description oISubjed Property(ettac:h ~on If~:

Legal description attached hereto as Exhibit A and by this reference made a part hereof.

Property TIUe ;a Held In These Names: (PIe8S8 it ad names on prvperty utlet,

Penelope M. Gillespie

No. 01 Unils:

_ _ Inveatrnert fropert)'

_ _ Leasehold (fJcpInIUon Date:

Residence Type:

Property

nue Held As:

--L Fee ~

Check II vUe Is also heJd 81:

_ _ ure EaIaIe

lnterVlYos (UYIrQ) Trust

Ill. Borrower Infonnatlon

Borrower's Name (Indude Jr. ~ St.,

Co-8amJMl'a N8~ (Indude Jr. Of Sr Ifapplicable)

Penelope M. Gillespie
OOB~

Number

SocIar 8ecurUy NlMT1ber

180-240035
Iname:$

Moo Iy Income: $

1.200.00

Real Estate Assets: S

132.000.00

Avalable Assets: $

Avai8bIe As8etS: $

Home Phone (indudng na c:ode): (352) 854-7807

Heme Phone (iJCkdlg area code):

Years ofRe$ldence at Present

rea:

15

Mailing AddIess, if different from SUbject Property

ress

8092 SW 115th Loop. Ocala, FL 34481

Manlal Statui:
_ _ Married

---:L..- Unmarried (Indude SIngle.

MeritBI
_
_Slalus:
_ Manied

dJwrced.~

s. phone. :
Neil J. Gillespie 8092 SW 115th loop, Oeara, FL

34481 352-8547807

phone):

AltemaUve Contact Per10n (name.

Fannie Mu Form 1009 0512004

PBselof4

,I

NOTE: T1'b
Name of CAldIlor

nt:i" *' Jrt.,

",.-w.

UI8d

Sun Trust
S

46,729.47

30.323.62

Accounl NIrrClet

Name 01 GI8llIlOr

AddnlI,OIQdar

Sun Trust
Accounllbnbet

NIlII1lI of CnIclIlor

AdchM 01 Odor

S
AccoW1l1Unb1r

77,053.09

V. ToIII Non-R8tl EslIIla DeblI

Co.prrqra"

fllmIIIs:
a. No lhara...., oulIIanding judgmanlll" 'fG4P
b, Haw yw llIed for II1Y ~kn4*Y twt hit nol bean raoIIIW?
c, IW yw a party to a r.-AI?
d. PIe you~~ orin defaUl Q11111Y FednI debt or any

olIler loan, mortQaga, hndII ablIgIIIon. bcnl,

guaqree?

11"'("0gt.oltdellb,

or'"

~ _ , . , . nIlddreN otJender.

FHA Of VA CuefUllber (l1JlIIbbIe), and_lor

d~1
e. Do)llU ~ to occuPY the prcpllly. '/fU pm.y 1'IIlIIdenQlI?
l PIe you a CXHIl8IcIlr or lIldlllHr QII a nolII? (OplIaneI1or HUOl
g. PIe you a U.S. cillzIeo? (OpllgnIl for HUD)
h. No yw 8 pennenenl teeIdenIlW(1 (0pII0nII for HUD)

No

V.

No

0
0
0

III

0
0
0

0
121

Ia
0
III

IZI

IZI

WIll prcx;eeds from thiS loan be used for Home ImprovlIIIlenla? DVea

p.?17 .)J

Va

IZl No

IZI

0
0

0
0
0

8
0
0
0

If vea. how mudl? S

Fannia M-. Nlnn 1008 OS/2004

Pega2of4

V1L Acknowledgment and Agreement

Borrower'I

nature

Date

06/0512008

Co-Sonower'8

Date

The following information Is requested by the Federal Government for certain tYPN of 108111 related to dwellng In oroer 10 monitor the lende(,
compliance with equal credit opportunity. fair houIJng and home mortgage dIIdOlure IIWI. You Ire not reqund to fumlIh thtIlnfonnaUon, but are
encouraged to do so. The law provide, that lend. may dl8crlmtnate neither on Ihe billa of this Informlltion. nor on whethel you choote to fumllh
II. If you furnish the Infonnatlon, plalle provide both ethniclty end flee. For race. you may c:heck more 1I1an one d_rvnetJon. If you do not tumlah
ethnlcny, race, or sex. under Fedend regul.~Otl$, tN. lender II required to note the Infonnatlon on the balia of visual obaerveUon or surname. If you
do not wish to rurnish the Information. plea" check the box below. (Lend. must review the above meterfll to ...ure that the dl&cloauru ISUSfy 811
requirements to which lhe lender II .ubjed uncler appBcable atate law for the patticutar type of loan epplled for.)

i. Female

Sex:

TOBE~BY~
Thll ~was 18bn by.

Liz Baize

Park Avenue Bank

8375 SW State Road 200
Ocala, Fl 34481

FiQH)I. . 1nteMIw

_Mal

_T*PhoM

. (352) 854-2265

'annle Mae Form 1008 052004

Plge3 of4

InItructIont for compltllng tit J-.IdenlIIIIoan IJ)pIk:alIon for IVWI'M mo~,,"

(Fannie Mae 1008) and Addendum

l.I.,._Ior.......,"'Ult

""'_for_.........

F c r V . _............. '1MIo MI. _ _ rnarlD. (Home

~~lot.. F~_~(IlanEqullr~
AloIlgoge, ... HECM), ... _ h
"'~ ... RtoIddII~~
lor R _ ,.....(I'IMIo
,
1001)..... UnIclm R-.w La.!
~(F. . . M.. FGIlIl~IMIo.... 1'arm lOO3~

For boIh IlImI, r '" lIIlOlgIgIlPIllIod'" II. HEal, '" HUDNA_(llUD

841100.0.)IIIUfl"'~

Tho RIIIdanlIII ~ ApIlIcalIon'" _

"""'""". , . . . M.. Fonn loot. mull
.,......",....,. _ _ ....IhIHDmaX-.....-. ...1IlIHECM:

\lpe"'_

_ ........ llbo1ru

Stctlcm L Type 01 Mel".... And T.... Of LoIn

Moo1e.,.AppUocIIor. a-..

. - _ ~ . HEal, ... oew""",_ 1llClllPlIa- .011."....,.., IhI

~. podud ....... . . -. HECM .. 1IiIcIad, fl. HUtwA-.cf\In.......

6__

camplatad'""_lo .... . - . ,

FHAC_N... rOll~IIlllIIocl"'II._~.IlIo"""'_"'1IlI
llIInI<.'Iha~IPIllIod....... HECM.a.FHA
runbot_"'_rad

- I l fIha-""" $lIon 0I1ha/ldK1P Co*

HUO-...d

==--

_P_M

Sh_~
Sh_~ARM

HECMI.-I-=
Ill.
!ndonlomant

en

.14
'15
til

1154
155

""' ... t I I f _ o I _

"-*_.l!nIIr"'_d......,.....
_ _.EnIor"'""**,,."""'"
ph..- -.'1IlPbbl& 1Ia. ... _ ooda

__

\IllUldl_

pIlono

and~"""

_pIlono"",.

==.-..-a"",,*,,,--- 1'IWdI"'_'*"-'-..

V_ol ..............AIIdMI,. Enlar"runbot"''''' "'

....
_e.-_.lho

"..

ppIlcant,

.......... a-IlClIlIllat~"''IIIllI<ant'._.... ~1luI

noldlYoral, ... "MantacI' 1lClIl.....,.,..-..tPnMcfl' " _

'~

_ """"-.'""

"",*,,",,11

~Ior" Ill>

-~MoIMa."- II.
IIIoIy_.
"'''''''10''

IllInd,
appbnl Tho_,....,_ba_""'hoa_to_ .._

_IV

"'......-.

fll*-.... .. opIonII

_~IIlr"'1ll>

d_"""*"'....

l.IIt"'liltII"'...........Io .... _

_'No
_t."'_lIIcll*d.--.
"'_
H2CM.......-.,
r"'_..
"""-'",,,,,,,,,II_ Tho -V....
_

Tho.......-

0Iw ........ loin ..... II'IIIi*'4lIo tpoe:Ilo _

pIllduc:tI mult.,. dolIIod .. " ' ' ' ' ' JlftI'ldId.

_onType
..

.......

..--lARMl_.ARM
...-._r... ....-wII...............,..
-...IIy.

-.

ProPIl1ll' ...,.Th-...,..,..._
01 '" - ' Y "
_on....._ _...
~

.... ""

~,.....-,IIIlIIt

"

......

_&fral9lI.~

......"'_d.............h"',......_
_caraMy.

Tho....-,.
_

.......-.... r.....-,oJlOl*l ........

\/lIL - - . . - FGra.--1iIDnIlDllng " " '

on'"
"'1111

Thau_""Yba~'a.~ ~ nolloMUll tllfor"

nolI .... ~
......-..,-.. ~_"""""'
lonoll"'_.. NllonaI orIilh

.......-.,,-....-.""'*'...."'

..._"''''........,...'''...'''_-*"01'_ ' I ! l I I _

"'''' 1llIIbnt'. p M l I I y _

...... alOI1Iy . . . . . . . . . . . . -

~ OIIc~plIon of .u~

. - N y -.... ~""'""Ir

1_\/1. _ _

~ ~

_V. _ _ o-.

tal

apPlcanlCIII~ " ' _ _ ""_It~

Spoclll Loan _ _ Tho l5cPlr _

0pIl0n Ii ...,

BtclIon 11 Pro",", InIormIlIoa

kb~e\ Propor1)' _ _ Tho _

=::~::.::--"'....-...

......._inlIrliltll .... "'.......,..

IEM_)
...-Tha""""'"
Tha
_
_ _ on......,
"'~.ThI_
ani _
"''''
~ ...... "'
-....e.(I1 and baIanoa(I)
..... _be~1lwliltll......,
_be
_
........ h"'. . . ~

runbot........,IlfIha'-. na
-....Ilf"'
.

LollI P _ I P _ _ a . _ _

e-",,,,,**,,. tlttI .... lIIlIICiHllIIbnf. _ _ r.

NgIMr

til"'

Lan4t.CuaN.. Ind1c:aItIha

=".

...,...,

t17..,

Condo lFl*l
Condo (ARM)

. . . . .--"1-..

-......,-EnIor.. .......,.._-.ttrrunbot....'"

1dtntoI_

II.,..., .. per\1or"'",",",....,.. DIIdoaon/ld~

"' ... loin IPI*oIon f 11I11IIIIIhI'.

Na.oI~.

e-", ......... 01""""" on ...T_hllcaW

MIjacl-'Y. For

_
be
V_8IIIl.I_tIIo_

lie.

_",_.IIngIeolIonIy~.

. ._

-'Y _ _
IIIo
_ 0 1 ...

ot......,__..

.,.

-IM

.. n o l _ .. ~ .... _ ~ " ' ~_ _

-)

1I..1d.... Type PrmoIy

- . a-.......,IIIlIl....anIl

I_._r_*_......,..,_u..- "''''_.W
-'"-1IIOI*lY' foppllolnt

.... _ _

..n-N _Ill.IIt-"'..
"-Io
I'nll*tl' _ _ Al.1dInlry
...--..~-II_

-'Y.
- . ..

tile
_OMrWWII,c:llaclrlhl~
bale.

_ 1I.1Ioh............
11. _ _

IIonowar'w _ . _ " ' .. _

.. " ' _ l o...

..... ot"'~

_._"'fI.I..,......

.WjoQpnlIlOIIy.

C...SOnOMt't

- " ' ' ' '......... orofll'll'.

//!J..J~

oI"'~r

......

-.,._
_

..

" _
ooda Glatlalowl '" FHA_
.._EnIor'
...........

. . . .....Ilcl(lllcll*4).
~lot

Tho
___(lIIcll*I).Thae.....-.A

L-.AoIoIlllt~7)

..... -.

be_hl1ll _
....-. _ _ i~"IO')

1IodaI,,'o.1211.12Ilo,,",,20_dnatbe~

Do~ Time

HUONA Addendum to Uniform Residential Loan Application

Pert I Identifying 'nformatlon

~~C:'~:n

1.

OMS Appl'OVll No.

VA; 2900-0144

0:

(mIf1( the type of IPPbdon)

X ~=~=:Iorl=",

I. BotToM'" Name &p,...nl Addr."

(lncIUd .., GOA)

Penelope M. Gillpie
8092 SW 115th Loop, OCala, FL 34481
I.

Propeny AddT...

13. Lendlt'. 1.0. Code

---,-::-~~~~~~.~~~L-ft~~~'~.~P~j~:~~~~;~~~~~~~t~~~t~~~';P~'~~~~~~~~'~~;~'~~;~"~~.~,~~,~,~:~~~
~-~~.~~
Park Avenue Beak
8375

sw

2,640.00 $

(l"eIudIng Mmt GlaubcHlton. IQI" block no. I ztp 00dt)

8092 SW 115th Loop, 00.1., PL 34481

to

months

Imo.

14.8ponaorl Agent 1.0. Code

0'5380'997

2110900005

~~~a~~~~/~~
Liberty v.~.. MOrtgage

10"1 ~t. Rook Road, Suit. 300

IaAcbo COrdova, CA 95170

State Road 200

. Ocala, PL 34481

17.

Lind.,.. Telephone Number

(352) 854-2265
VA: The veteran and the lender htnby apply to tho Secretary of Vetetn Affairs Cor Guaranty ofthe loan dcsaibed here unda- Section 3710, ~lCt 31, Titlo
38, UniC~ SlateS Code, to rhe fuU exteDl penniued by die ~oterInt. enti~ ~ IIWftIly ~ Chat the Reaulal10ns promuJgarod p~uanl to Chapter
'I. Firat Tim.
Hom.buytr?

a.DV 8S

b.0 No

1'. VATltleOnly
w11 be Vnled In:
veteran
Veteran" SpOUI.
Other (specify)

PufpoIe 01 Loan (bJockl8 - 12 lie tor VA 10... onty)

1)
2)
3) ,

4)
5)
6)

en e

er

Purchue ExleGng Home Prevloully OcaJpled

7)

Rnancelmpr0vement8 to EJd81Jng Properly

8)

Refinance (Reft.)
8)

Purcha8e New Condo. Unit

10)

Purchase ExJaUng Condo.Unll

11)

Purcha.. ExlsCJng Home Not p~ OccupIed , 2)

Construd Horne (poceedI to be paid CMA dumg t:onI1ndon)

FInance Cooop PurdlaH
Pun;hue PermanenUy SKid Manutacturtd Home
Purd1ue Pennanenly Sbd Manufac;1ured Home &Lot
Rd. PwJmanen1fy Sfted Manufactured Home 10 Buy Lot
Ren. Permanentry SIted Manufactured HomelLot Loan

ca on

e.

21. The undersIgned lend.r makes the foUowing certJDcationllD Induce the
Department of Veterans Affall"8 to Iisue a certificate of cornrnJlment to
guarantee the lubJecllo8n or a Loan Guaranty Certificate underllU. 38, U.S.
Cod., or to Induce lhe Department of Hou,'ng and Urban Development
Federal Houelng Commissioner to I.rul a ftrm commitment for mortgage
Insurance or a Mort;agelnsurance Certificate underth. National Howlng Act.
A. ,The loan tanne furnished In the Uniform Ruldentf. Loan ApplIcation and
this Addendum are trut, accurate and complete.
B. The information contained In the Uniform ResidentJal Loan Appfloatfon and
thIs Addendum was obtafntd directly from the borrower by an employee
of the undersigned lender or tta duly authorized agent and it true to the best
of the londer's knOWledge and benef.
C. The credit repon submitted on thl aubjeet borrower (and co-borrower , II
any) wal ordered by the undel1Jlgnld render or Its dUly authorfzed agent
directly from the credit bureau which prepared the report
WI8 received

The Uniform Rnldentlal Loan Application and 11111 Addendum were algned

by the bonowel
an .eeaon. we,. completed.

.ra.,

F. Thl. propoHd loan to the named bo"owet' me. the income and credit

requlr8ment8 of ". govemfng law.1n the Judgment of the underafgned.

G. To the belt of my knowledge and belief. I and my ftnn and Ita principal': (1)

are not pr..entIy debarred. IUlpended. propoaed for debarment, declared

'10m

Ineligible. Of voluntarily excluded

covered traneactlona by Iny Federal
dtpar1ment ~ (2) heve not. wtthln a
period precedJng
tn. proposal, been oonYl~ed 0' 0; had a ofvH Judgment rendered .galnat
Ul.m for (a> QOIM1IeeIon of fraud.or a criminal offen8' In QOnnectlon with

or

three-year

or
theft.

obtaining. attempUng 10 obtain, or performing a pubDc (Fed.ral, Stat.

local) nnaactlon or contract under a public tranActlon; (b) vtot.tlon of
Federal or State antitru-' et8tutN of oomml..lon of embezzlement,
forgery, bribery, faI.mcaUon or deetruotlon of recom.. making fale.stat..
men", or recelvfng ItOI.n property; (3) are not preeenity Indlc1ed ~r or
otherwe.. crimJnaOy or eMIly oharged by governmental entity (Federal,
State or IooaQ with comml.,lon of any of the offen". enumerated In
paragraph G(2) of thle oerUftcaUOn; and (4) have not, with'n a three-year
period preceding thJI appJlcatlonlpropoeal. had one or more public 1ranl
aetlona (Federal, State or local) termtnated for tau.. or defau't.

and

directly from 881d credit bureau.

D. The verification of employment and verification of dopoli" wtr. rlQue,tld
and received by thl
or Its duJy .uthorfzed agent without paNing
through the hande of Iny third per80n, and are true to the beat of the
'lender', knowledge IIlnd belief.
Item. "H" through "J. Ire be completed I' IpplJcabIe for VA loan. only.

H. Thl name, and function' of any duly 'uJbor1zld ,gent! who dmlQRed on bebalfqf 1bg ftndgr any o,th' rnlpnnl1lpn or suppor1Ing cndt dati ,ybmJltId ' " 08 foIlQW8'

lender
to

Name 6 Addr...

,.... (

,OCIIIInIdWanndonGrl ... ~A....,U.LRn

Cfd...... wMlcaUanloI~l,dIpoII
. .. "c.)

1&"3 3R3~:~rQ~~~':3~r~n~e~=~~~~~~~:'~rrm~~=t:aJ.~I:tr.~:~~ e,~r:~m=,~~.~~1a:'1f"':I~W:g.

'Wm ~J~~J~~~~~

I.
with which tf1ey are Identified.
.
J. The proposed loan contc"", otherwt.. wi" th. applicable provtllone o'TfUe 38, U.S. Code, and ofthe regulation. concerning guaranty or lnIurance of loans

~O_oI

0 CIS to

TIlIeolOlllclrolLe.....

f'

orrowerL

U Crepo

en

reo

L.

t./Yla. rv~

rma

~.
average

n .. per reeponee,

S - 0 <6
e time

reviewing ItlSINetionS. learching existing data ~., gathel1ng and maintaining !hi data needed, and c;ompI.tlng and rvvfewlng the cohcOon of information. This
agency may not conduct or sponsor, and a perlOn I. not required to respond to, a colecUon information ume. that coIecdon diap11Y8 a vatId OMS control number,
Prlv80Y Act'lnformatlon. The Informa1lon requested on the Unlfonn RNidenUal Loen AppUcaton and Ulia Addendum II authortud by 38 U.S.C. 3710 (If for OVA)
and 12 U.S.C. 1701 et seq. (Jffor HUDlFHA). Tho Debt Collection ~of 1982. Pub. LawW~, Md HUe" HoUilng and CommunIty Development Act of 1987, 42
U.S.C. 3543. require per80M applying for a federally InIured or guaranteed loan 10 fumilh hla'her eodaI,ecurtty number (SSN). You mull provide an the reqllnted
Information. Including your SSN. HUO andfor VA may condue:t .. compu..r match to Y8fUY the Info""*!on you provide. HUD ancUor VA may dildo.. certain
IntonnaUon 10 Federal, Slate II1d local &genclo. when N1evant to civI, criminal, or regula10ry InvntIgdonl and proeecutJon8. It wi. not oth,rwI,e be dlecfo.ed or
released outside of HUe or VA. except .. required and permJtled by law. The Information wfIl be uaed to det8rmfn. whdIer you qualfy II a mcmgagor. Any
diad08ure Information outside VA or HUOIFHA will be made only as permitted by law. FalIurelO provide any of the teqUtltecllnformatJon, including SSN, may

0'

VA F~ 2&-18021 (3198)

f/'?IJ. ~

page 1

form HUD-e2900..A (0612005)

mutt In d1aapprovaJ o/your loan 8PPbllon. ThIII8 nolle. lll)'Ou u required by tilt RIghI III FlMnciII PItv8cy Act 011878 flal VA 01 HUOIFHA haa a rl\1I1 of lIOCleA
III Gnanc:lal AIOOrdl held by IInanc:IaI InaUlulIonI In COM'" wlf1 the oonaIderallon 0( admInlnalIon 01 ..ratar1Oe III You. Flnanc:Ial ..corda 1n'i'OMng )'Our
tranNcllon will be ...n.bIe to VA and HUOIFHA wIIIloul further nOllce 0( lIUthor1zdoIl bul wIIIl10l be clIIcIoeed 01 rwleaMd by thIa Ir1Ithullon III IIlOlher Oowmrnenl
Agency or Depwtmer1l wtIhout )'OUI oo~ lIlIOtp1 .. lequIred 0( permll1ed by IIW.
.
CllII1lon, Ol8nquendel, delaulll, IoredoIuree end .bu_ 0I11lOf1gagt loMe IrMlMng ~ 01 the Fedlllal 00YemmeIl1 can be ooety IIId detmlenll/ III )'Our
crldil. IlQW and In the fuluJe. TIle lender In II1IIlr1lnIaetIOn, .. agenla end . . . . . . WII .. the FedInII ~I. 11I11Qendee, lIQlnl8 and ~ re
auU1orlz.ed III take any8lld .. 01 tilt tolIowlng lICIIOneln lht emtlloan payrnanIa beoorna deInquenlon the lIlOI1Qage .... dNCl1bed lnthedaclledepplceUoll: (1)
Report )'OUr nllT1ll and _ _Ilnlomldon 10 a CI1IdI1 bultal; (2) ~ addIIIonaI ~ and penally cNlge8lor the pertod 01 Ume fla1 peymenll8 IlOI made; (3)
Aaae8I dWg" III OlMIr addltlonal edmIr1IInllYe ooeI8/ncumid by tie <lcNwmment IlllllMca your aooount (4) 0 . . . 8IllOW1W 0Md III )'OU under other Faderlll
PlOllIeme; (5) Refer your eocoUll1Io prl\olal8 alIOmey, ooIIealIon agenoy Of morlgagt ..M:*lg lIlltIIOY to ooIIec1 hi amount dua, IoNdote the ~.... 1he
propel1y and Hek judgmant ageInet )'Ou 101 11ft clelIcIency; (8) Refer )'OUlaOOOUl1llllfle 0epaitmInt 01 JuIb lor BIIgaIIon In the 00UI18; m II)'OU .,. a cun.nt or
Ietlred Federal Imployee, take adIOlllll oIIMl )'OUI aJary, 0( GIYlI aeMoe rt1hmInl beMII1lI; (II) Rer)'OUJ debllO IleIr1lemlll ~UI SfMCe lor otlM1 aga/rIIt
.ny amount owed III )'OU u an Inoome 1u r.rund; end (8) RapoII any _lUng ~ dIbI OI)'01n 10 1IlIllrrl8maJ RIvenue Service u )'OUr1axablelr1Gome. All
ollhe8e ac:llonl can and wtlI be uaad I l l _
cIwbII owed wIlan ft 18 dallimlnad 10 be III tilt Inlafeet oIhlandar and/or h FederaJ (icwemmenllll do eo.

Pait N BOrrower con..", tDr soolil

itty AdrilJ"IiGitIOi1 to ViiRY iJOCIiIliClii1tY Nurn&e;

I au1holtze ... SOcIal SaowtlY Admnlalrallon to wrffy my Soctal Securtty IIUIllber III h I.MllIar Idantftad In W. document and HUOIFHA, tIll'Ougll a computer
match conducled by HUDJI'HA.

I Undlllland lIlal my oonaanl alIoM no adlIlIonallnlormaGon from my SociII Securtty AIOOrOa III be plVVldad III the Lander, and HIJO(FHA andlha! wrllloalion of

my SociII 8acur1ly number doaa not COIIIG1IIte oontlrma1Ion 01 my Iden1lty. I a1eo undnland lhat my SodII Sec:ultly number may IlOl be uaad lor any other

purpose !han !he one fINd Ibow, IndulInv r.aJe 01 redilc:loeuN 10 othar PII1I'" The rrif olher riIdIecIoeure permIllad by 1l1li authortzallon II lor , ' ' ' '

JlUfP08IS 10 I'*'" thaI HUClFHA compllee wIIh SSA'I ooneent requlr-u.

I am lIIe IndMduaJ III whom 1IIe SOdel Securily numbel wu IAued or 1IIal pereon'llegaI ~rdIan. Idec:IIIIW and IIIIrm under the penally 0/ perjury lIlal thl

Informallon contained herein 18 true and correct. I know IhlII " IIIlIke any repreaenllllon flaIl know Ie lelN 10 ob1&il JnIomw.1Ion from SocIal Sec:urity leoonIa. I
could be punl.hed by line or Imprfaonmerrt 0( both.

Thll CX!!l!on' " y~ lor 189 dlIya lrom !bt de!l1!lrJtd. yDrm IndCllld 01h'rwIIP by lb' IndMdvaJ(1l !W!!1d ID !hI! ioon IQp!jcBt!gD.

S1gnalUl.(.) 01 Borrowtr(') Reed conHI11 camuly. ~!W 80CInCY of aoclaJ .eeurtty number(e) and birth datR ~ on till appIcaUon.

O'le.lgned

0.00

-s-

OS'.

~C. OrIginal MOlllJllge AmI

0.00

22e. Iflhe dw.lllng 10 be coveled by thll morlgag' It to be renled,l. lIa part 01, adIaCllnl 0( oonUguoul to IIIIl' pro~ubdlvt.lon or group 01 conoentrltld
rlnlal propertlellnvolvlng .1gh1 or more dwelling unl1llln which you haw any nnanc:laJ (",,,nt? uVea l!J No If -Vea give detail
221. Do you own mora than lou I dWtIUnga 7
VII
No II -V... "'bmI1lomt HU.Q=.lI2681.
23. CompleleforVA-QueranteedMol1g.ge. Have)'OUlftrhedaVAhomel.oan7
24. Appllc.b1e for Both VA HUO. Au hOfne IowI bomlwer,)'OII wi( be legally obIlgaled III make the mortgagl paymanl8 caGed lor by)'OUr rnor1OtQll Joan conlracI.
The lacI that you dlapoat of your PIOP8rlYafter 1he loan lID ~ made wiD not ralIew you of IIabIlly for maklng lllue ~ Payment 01 I'" loan In full
I. ordln.rIIythe waylI.bllllyonamortgaga note 1aended.8omthomebuy..- have1llemlelalcln~1t1al1l1hey..B1heIrhorMlwhelllheymovalllano4her
IocaIIy.ordllpoaeofnloranyother_1Itey.,.no~lIabrelor""lnOI1gagepa~l8andlla1l1a1lll1t)1lorlhMe~"I04!1ylllaloflhenew_
....
EwnthoughlheMW ownlll1lmayagr..lnwrtllnglll_labIII1yloryourIllOl1U8QtPlll'"l8nla. . . ~agrwmen1w1not~)'OUlromllabllllylll1he
holder of lhe llOIe whIch)'OU IIgned wIlen)'OU obtained the loan III buy Ihe prop8l1y. U..... )'OU aN able 1D ulIthe PIOPIrlY 1D buyer who Ie MaPIabI! III VA or
to HUOIFHA and who wllaeaumethe peyD*1l 01 your obligation10 the lender,)'OU waJ not be reIewd from IabIIlyIo repay anyolalm whIcIl VA or HUtvFHAmay be
requlnKf III pay your Iendel on _Ill 01 defauIlln your IowI paymenla. na. amount of any .uah claim pa~ w1I be a debl ow.d by you 10 lhe Feder'l
Gove
wi! blthe
d
,
WU not a_ 0
myoonlracl bul Y8
ad
10 oomplete the IranMCllon al ... aonlraoI purohae prt08 0( - . I ""'e paid
or will pay In \l8Ih from my own _Rl88 II or prior to Io8n dOling' aum eqval
10 the dIIlerence be'-' conlraot pun:haM prIoe or 0011 and tha VA or HUllt'
FHA ....bllahed velue. I do IlOl and w11110l have ou1lllndlng 811.. loen cIoling
,ny unp.'d oonlraotu.1 obllgllion on aocoun1 of luoh oalh payment.
(4) Nebher I. DOl eDyone aulllorlzed to ecIlor me, wi! reIuu to
or ranI, Iner
the maldng 01 bona fide oller, or relu.. 10 negollate lor lIle
or "nlll 01.
or olh_1ae m.ke unavailable or deny the dwelRng or property cov_d by hili
hal loan 11l8nyp'...... becaII.. of raoe, color, religion, ... hendlcap.lamlr,,1 ""'IU'
or nellorlat origin. ( recognize 1hal any reetllctlve -.nanl on 1IQ plOIlerty relallng
10 _ , oolor. religion, ... handicap, lamIIaIlllI1uI or neGoner origin IIl1eva1'nd
void and civil .otIon lor pmwlllva rtIeI nwy be brought by Ihe Altorney Gln,ra1
olthe Unlled S1a"'1n 11ft 8IlPI'OllllIte U.s. DIaIItcI Court agal"" any PI'"" re
lponalble lor 1M vloIelion oIlhe appIoeble I.w.
(I) AI In/ormIllon In"
II gIYtn lor IIIe purp_ 01 oblalnlnv' ro,n 10
beinluredunderlhaNalonel
1dor~b1lhe~olV_""
A/IaIrI end the INonnalIon In 1M
Reeidlnllal '-1 ApplIcelIon end II'iI Adden
dum 18 _encl ~ 10'" beeI 01 mylcnowledge and belle!. Verillolltlon may be
oblU1ed 110m
hareln.
(I) I'Ol'HUDOnly~nm'
PlIorlolf78)lhaY8I8011IwdInfOfllllllJon
on !eId palnt poIarilg.
V.." Not ApplIcable
(1) l",,_tIIalnelther
IFH .-VA_"'eoondlUonorv.lueor
lht propelly

OV.. UNo

Eion

8IfI-"""

SlgnelUre(I) 01 ~(.) - Do DOlalin urMIall'la applIce1IDn illullycornp'.-d. Reed ... cerdficalIonIeatelully& revIew.~.llIliI eppIIcatlon.

F~re&"'18'p

VA FOfm 26-18028 (:We)

rry llaud, I_onal mlI,..."J5rulfOn, or orIrnlnIl connivance or COI1Iplr8C'f purpoeed 10 JnIIuenoe lilt

pege2

on

b-

f?

>-

CJ

101m HUD-82800-A (01ll2005)

;.;

: ...~.

~.:

..

;.,

_________--........:...t_
"

"

U.s. Departmont of Housing

and Urb8n Development

Direct Endorsement Approved for a HUD/FHAlnsured Mortglrsle

... ~:~OUo~'::CC

Part I Identifying Information (ma,k thl type ot application)

2. Agency Case No. (Inctude any IUfflx) 3. Lendt', Ca.. No.
1.
HUDIFHA Appbllon fOt Insurance

und.r the NaUonai Hauling Act

255

I. Borrowt'" Name & Prtyn, Add,." (InclUde zip DOdI)

Penelope Gille.pie, 8092 SW 115th Loop, Ocala,

FL 34481

yr.
12b, TlrmotMonthly
Premium

I. Property Addre" (tneJuOing name of .ubdM.lon. 101 , Dtocll no. , zJp CClCII)

2,640.00 S

8092 8M 11Stb Loop, Oeala, rL 34481

, 3. Le"dtr'. 1.0. C*

36 I mo.

0952809997
tI t.'!d..r.'~~~'~.&:~i.,
Park Avenue Bank
8375 SW Stat. Road 200
Ocala, FL 3 81

:'

months

1... SpanlOr I Agent 1.0. Code

2110900005

18. Name &Addle.. of Sponsor I Agent

Liberty Rever.e Mortgage

10951 Whit. Rock Road

Suite 200

Rancho Cordova, CA 956'0

17. Lendaf' r."phone Number

Approved: Approvcd subject to the additional conditions stated below, if any.

OS/20/2008
Date Approval Expires

Date Mortgage Approved

ModifIed &
Approved
as follows:

Loan Amount (Inoludl UFMIP) Int,rtlt Rat. ProDOIed Maturity

IS

Yrs.

11/01/2008

Monthly Payment

Mos $

Term of Monthly

Premium

monlhs

Additional Conditions:
If this is proposed construction, the builder has cenified compliance with HUD requirements on form HUO-92S41.

If this is new conslTUction, the lender certifies that the propeny ili J 00% completc (both on sitc and off site improvemcnts) nnd the

property meces HUO's minimum property standards Dud local building codes.

Form HUD92S44. Buildcrs Warranty is required.

The property has a lO-ycar warranty.

OwnerOccupancy Not required ( item (b) of the Borrower's Ccrtificatc docs Dot apply).

The mOr1gage is a high loanlo-value ratio for nOD-occup:mt mortgagor in military.

o
o

Other: (specify)

'l1lis mortgage was ratcd as an "accept" or "approvc" by FHA's Total Mortgage Scorecard. As such, the undersigned reprcsentativc oftbc mortgagee
certifies to the integrity of the data 5uppHed by tbe lender used to determinc the quality of abe loan. that a Direct Endorsemcnt Underwriter reviewed
the appraisal (if applicable) and funher certifies that this mong8se is e]jlible for HUD monsaae insW'8Qce under the Direct Endorsement program.
I hereby make all certifications required for this morteoge os set forth in HUD Handbook 4000.4
Mortgagee Repreeentative
_

This mortgage was rated as a "refer" by a FHA's Total Mortgage Scorecard. and/or was manually uoderwriuen by a Direct Endorsement
underwriter. As such, the undersigned Direct Endorsement underwriter certifies that I have persooally reviewed the appraisal report (if
3pplicable). credit application, and aU associated documents and have used due diligcnce in underwriting this mortgoge. I find thot this
mortgage is eligible for HUD mortgage insurancc under the Dir. t Endorsement program and I hereby mate all certifications required for
this mortgogc os set fonh in HUD Hook 4000.4

Direct Endorsement

Underwrit~~;::::2!'Zi~~~~...,J.~M~~~=:::::==--

DE's CHUMS 10 Numbe, _C_J_OS

The Mortgagee, Ita owners, officer., employees or director.

do IXI do not have 8 flnanelallnterest In or a
relationship, by affiliatIon or ownership, with the builder or .erer InvOlVed In this transaction.
page 3

.1~

.)

s~:

.~~;; ..iil'Nlj.,

,.: \:'T

~'(l:;~:

. '

~~

..._._~._Jj!- ...

~~.o...

hDe1.- W, CJitleQt.

1!. ~?Ij.,~

f~5.D4'.

Lenders Certificate:
The uaden!ptd conifieI thaC ~ tho bell of ill bowledp:
(a) Tho .waDcQlI . . In lis appUcadoD b' iaurliJee ud fo chb CeIIit1cD JrO no aDd oomoc;

(b) 1be coadldo. lilted abon or eppcarbla iD Illy oU1llUdlna 00IMdcaaea& _ _ .,., tho Ibcm cuo a=bu
blCA (ulfilled.

(c) Complete~otdat 10a hal b-.madoCO dao bocrower,OtlOIalslbrcred11Od tar IdIIhetcoeoUntud wida hWhctOOMenl;

(d)Tbe JeCUtJt)' WtraJDIGC hal boola ~ ad Is & aoocI aDd nHd be U. 011 die ptOpIErty duarllMd;

(~No oJwp bat bceA mado &0 Gf pa4 ~ tIae boIrower except .. pemdued aDder BUD.~ .

(I) '1bt cop!eI of Il1o

usd IOC1IdO iDIIr'aIDeIUI wJdalIllllUbmlUcd 1Icnw!d&. . cu.1D4 __ copIa tueeCtIIed and flied tot record;
Ca) It hu not pdcllD7 ~ fee OfGODlldatloa otUQ' WOe db'eol17 orladllecd)', to IDI pI1'tJ fa ooaocdoa "idS rJlb Q'lDtaOdoo
. II paIIIdaod andet SO'1) .....ladou Jd admIGfaCn.1m baacrIotIoa.
I. Ibe ODCSaaJFed, .. 1IId&GIbed ~ fit
IIIOnpaoe ac chis dmlt at d.otIq of ddllDGdpp Ioaa, oerdt1 dlu I bve ~ mIawed daI moa1,pI. laID cIoowualta, clOlJll1
mwnoo",&ppllcadoatorbucnacoendcalmM.. aDdI1l~~ lk1ab)'IDIba1Jcett1tkcdoarequlNdto:CbIl
morlpp at . . tardllD HtJt) IIIu4boot 4000.4.

hav,

cr.

L.tn&Ier.

_.,..........
a&' ~b"""!"~_
....

___

...~~~.--~

1 . . . . . . . . . . . . . . . ., .

t. ....

-i

,..-

NltI~

~....,.'

.... -r. .,." ....

NoIei oI.lInder.
""'IPPIVWII"....111
1M __ mute

...._ _-tODcfltuDtr

~_

. . .-

ucI--.

.In 1M
t'f 1IndIf'

FINANCIA.L

TIT LEe 0 M PAN y.

BORROWER'S ESCROW INSTRUCTIONS
To: Financial TItle Company

81 Blue Ravine Rd. # 220

Escrow No:
42613725-823-MFP
Escrow Officer: Fatima Pacheco

May 18, 2008

Date:

Folsom, CA 95630
Phone No.: (916) 351-2910
Fax No.: (916) 353-5070

Financial Title CODlpany conducts escrow business UDder License to act as an underwritten title company issued by the State
of California Department of Insurance.
.

IIWe hand you herewith balance due shown below together with

ftJ JUecuted Loan Documents

I'iI Escrow (Estimated) Settlement Statement

ltl Approved Preliminary Report

lif Approved Demaod(s) for payoff of existing mortgage

ltJ

QuitClaim Deed

iii All documents necessary to close Escrow

which you are authorized to deliver andlor record when you have received for my account:
Loan proceeds, per estimated state~ent and when you can issue a policy of title insurance in the amount of $132,000.00, in
compliance with Lender's instructions, on the property described in Preliminary report issued by Mercury Transaction Services J
Report No. 42613725, dated April 16t 2008, showing title vested in Penelope M. Gillespie and Nell J. Gillespie and Mark
Gillespie, as Co...Trustees of the Gillespie Family Living Trust Agreement dated February 10, 1997, describing the property
known as: 8092 SW 11STll Loop, OcaJ~I, FL 34481. At close of this escrow, the pollcy of Title Insurance will contain only the
following "subject to" items, PLUS those items that will reflect the documents being recorded through escrow.

SUBJECT TO:
1. Printed exceptions and conditions and stipulations in said policy.
2. IiJ All D 2nd Half CI Paid; General and Special taxes for fiscal year 2008

3. Assessments and/or bonds not delinquent

4. Exceptions Dumbered SchB-12-3PIE 40VT, ScbB-D 1-13 as shown in the Preliminary report referenced above, and:
5. New First Deed of Tmst in favor of Liberty Revene l\iortgaget Inc. to record in the amount of $198,000.00
6. New Second Deed of Trust in favor of Department of Housing aDd Urban Development to record In tile amount or
5198,000.00
The undersigned bOlTower(s) hereby acknowledges that he/she has received and read a copy of the Preliminary report referred to
above, describing the property which ~ the subject of this escrow.

Borrower's Disclosure
The undersigned Borrower(s) hereby certify(ies) that all liens, judgments, deeds of trust, taxes, and other obligations have been
disclosed to Financial Title COIDpany, and that NO other liens, judgments, deeds of trust, taxes, or other obligations exist against

me/us.
The undersigned hereby certifies that NO construction, alteration, addition to, or repair of a building or structure is in process or has
recently been completed.
Therefore, the Wldersigned agrees to hold harmless and indemnify Financial Title Company and its underwriter against all loss,

damage, attomcy's fees and other costs and charges which Financial Title CODlpany or it's underwriter may sustain in consequences of

having issued such policy or policies of Title Insurance, and not having taken exception to an item which should have been disclosed

but for whatever reason, was not.

Upon conswnmation of this escrow you are authorized to disburse in accordance with the attached Estimated Closing Statement.

Supplemental Instructions
The fire insurance premium shown on the settlement statement Is all estimate only. Borrower(s) will provide evidence of fire
insurance coverage in an amount and type acceptable to the lender prior to the close of escrow. Escrow holder is autllorized
and instructed to pay any premium duet per Lender's requirement, from funds deposited by Borrower(s) at the close of
escrow, unless a paid receipt is deposited into escrow.

The escrow holder is bereby instructed to obtain the evidence of hazard insurance fro III the followJJlg Insurance
Company/Agent:
We have this information
,whose phone number is:
_
PAY CREDIT CARDS OR OTHER Bfi.,LS THROUGH ESCROW: Escrow Holder is authorized to charge to the account of the
Borrower. as per the attached "Estimated Closing Statement" t to pay Credit Cards and/or miscellaneous accounts as required and
instructed by new Lender. Borrower agrees to deposit into escrow, prior to the close of escrow, current billing statements for each of
the aforementioned accounts providing Escrow Holder with cUlTenl addresses and account numbers for payment on said accounts.
Initials

Initials

htitials

Initials
&closnu (2114106)

Borrower Ind nm Lender are hereby notified that escrow cannot dOle until such time aU complete address and account
Information has beeD RrOllded to Escrow Holder. NCroW Holder does not wanant that payment of the given amounts will pay
said accounts in full, as additional charges may have accrued, or that said accounts will be cloSed. Any unpaid balances owing, not
paid by Escrow Holder, shall remain the responsibility of the Borrower. Checks for paymcnt ofall accounts will be mailed directly to
the creditor at the address provided by t,he Borrower. Any discrepancy in the final payoff fagures shall be handled by the undersigned
outside of escrow.

DEMAND TO ESCROW:Borrower(s) hands you herewith read and approved copy(s) of demand(s) and hereby instructs you to

amend said disbursement(s) per any updated demand(s) you may receive prior to close of escrow, without further instructions.

Tbe undersigned bas requested a signing appointment ounlde of the escrow office handling this escrow. Should undersigned

cancel this trllllsaction, or if for SODle realOn this escrow does not dose, undenlgned hereby agrees to pay any bllllng presented

by Outside SIgnln Service for services rendered.

ACKNOWLEDGEMENT OF SIGNING SERVICE FEES: The undenlgned has requested a signing appointment ouhide of

the escrow office handling this escrow, Should underslgued cauce! this traosactJon, or Irror some reasoo this escrow does uot

close, uodefllgned hereby agrees to pay the fee listed below to the ouhlde slgnlug service directly for services rendered OR

upon close of escrow Financial Title Company is authorized and Instructed to charge tbe undersigned for services as noted

herewith:

Name of Notary:

Signing Service Name and Address: Richard Kwiatkowski in the amount of 175.00 and Notary Central in the amount of

150.00
Upon consummation of this cscrow you are authorized

to disburse proceeds as follows:

Disbursement of Funds to Borrower(s):

The undersigned hereby instructs Financial Title Company to disburse their proceeds as follows:

o Authorize check to be picked up by:Name:.

o Call when check is ready for pickup, phone #"
Name:
o Mail check to:
Address:

-'
--', conlacl

_
_
_

o Overnight check to address:

Plea"e make one option:

o Signature Required for delive.l}'

DSignaturc not requiredokay to leave at front door

o Wired funds-PLEASE ATTACH VOIDED CHECK FOR nus OPTION.

o Other:

The proceeds will be disbursed in the form of one check payable to the order of ALL Borrower(s) unless
Escrow Holder is provided with written instructions from all Borrower(s) to do otherwise. Such checks
require the personal endorsement of alI payees to be negotiable. Unless otherwise directed in these
instructions, Escrow Holder is authorized to mail any proceeds/refund check(s) to the Borrower(s) at the
address rovided Escrow holder herein.

Inilials

Initials

Initial.

initials

~:H

:i:"

':

~)!

::

,'i~
~~ J

4;
l.~ ;

,
!. ,

*~r'
l:;l
:~~"

'.

r;

i :'

1":~'~

.f::q
~,.}
:~

I
,

v.

~:-.

.~ :..
r.

..

;:

; }.

; :.!

~.l3 :

.~-tt
MiY.

.J

.!

, .'

~:::: ~
(.~

~ !}:

trf

'.

:('-,c

*~~'

,
!

.. :

~.~

~e

';'i

2(:(18 S;57MI

'.

.,

..:- ...

~I

f'A~

~TGAG~

No. 1490

(.

Residential Loan Application for Reverse Mortgages

1l'is ~1lon is dtliglled 10 be comp!e\ecl by Iho 1P!lk.ant(I) ..tf\lhll8ndel'l UIIIUnce. AilIlIcInlII/lOIlId compIele Ihit bllI .. ~ 01 'C~lloll' __
111Il1"Callll. COo~ InfcrmaUOtI n1lIl be poWlllCl..nen I peJ1OI\ofler (han ... 'BoIr__ ~rQdlg .... 8cfT0WIl'1 _)It. _ _ (/I'" rul
property lhel .... be u8'lll as walalor loan qualftC8lian 0I1he llallllM($ $pause 1$!lOI' _ _ ClII/lI II. propeIly 1haI \/011 be usecl " . bMlor loon
QIJlIllltIIlian. but It1e llcrrowtrllllklel In. ccnvnunlly prqlCl\y st.1e 0I1tle ~ Ilf1lP8I\y i' k\eIIl8ll In. ~ 1ltOPt"V filii.

I. Type 01 MoItgIoe _

T..... a'lOlll
fHAC... No. (HECM)

~,\jlpl<l'd'(lI;

_ _ HclrM Kttpe< (Fe"'" Mae)

lOlll'~I'lan6;

...L-HECM(l'HA)"
_ _ Oth!r _ _....,..--::-:-

_V_ L"e 01 Credil(naI.vaIIIIlIe in Twa)

_ _ Mded T8Im (HECMonyj

l_ly)

_ _ TBIII1 (HECM anIy)

_ _ ~IiedT.1U9

_ _ 0II1er

_ _.Tef1I61

'Compltlt HUOII/AAddend"'"

5pecf1ll LOtln FfIIllJU ..,..-:: EQuily Shere

Olhe< (opecjfy):
Amartlzlllion Type: ....:L../WA (lype):
Monthly
Fixed Rile
Other (explllint.
lL Pllpelly Infollllldan

Subject Property AildftU (lVeet.

av. ltal8.lWty. Mil l~ WJii).

8092 SW 116lh Loop. ~ala. FL 34481 In Marlon County

Lf'IIlII oewtPI;on 01 stJi)jiCi PrOpeny /1riiCIi diSci1pdGli. nec:.enlll'f):
Legal description allllChed hereto liS Exhibit A and by this relerence made a part hereof.
F'rQperty TMle 1$1 iiIfj In Tht$e N_.: (Pia.. hi lIli l1Iml. an property tiae):

Penelope ("",spie
NO. Olu"ts: 1
Re$i(le~T)w.

PrOoeI1I' rw.1itId ~:
CI'k WlIIe II 8IaCl htlil as:

II. Bormwor ""omllUan

1lClII'o...... Nlme Cltldudo Jt

,,.., \11';01 (LMng) Trull

'Jf S'.. ~ lIflplcablel

eo.e-fl Name ~tlClude ... or Sf.. i1lppllcllllle)

Penelope Gillespie

71~OO3~-A

Monthly 1i'lW"': $

,: S

/;26 6

Re.. e.~Ai.'"5:$

RaalE$llllt~$

AVIIable AaIeb: S

AvaI8llle ....Mle:$

Home F'hcne (iIlWl"8 110 code): (352) 654-7807

Yea'l 01 ~lirJlfQt

~AddreW

Maiir() A<fClte1S. Irdilfei.....

1012911930

'lA.

Home Phone (nclldi'G" axle):

C,

I Yearl

115

I M-.g AllCl"".1 ~lIeterot tom SUbjeCt Property Addfe~

wnlAdllieSS:

8092 SW 1151h Loop, Ocela, FL 34481

Menla' Slet",,;
_ _ Mamr<l

-L- Urvnamed ~ 51ngle.

dl_.~)

MeIl'>atiVe CarDct Persotl (llI/Ile. add,.... phaIIe):

Marilll SlI1uI:
_ _ _ Mlrried

_ _ Vnmatried (m.ocle $ingle.

dlVllrcecl.\\1<loWIcl)
AltlmatIve ConlIct PerIon (naml. eddf8N. pI1one):

Nell J. Gillespie 8092 SW 115lh Loop, Ocala, FL

34481 3528547807

Plo.1 014

; ',,:'
,:
"
~,

';

..

~ ;~:.

i:'. /
",.
:..
"

"

P. 4

No. 1490

Name 0 red.or

oa

c)

Total lion. to t paId:

v. Total Non-AHI &1.I1e Debtl

Total Atnounl'of Non-RepI Estate Oebt~; $

VI. o.eJ.tltfona
If you ,n:;wer "Y~,..to.ny qutf..'bn, ~ h,
PIe,se UJe conlinulfioll m"f f:Jr ~p1'rJfItiofr.

e. Alo there any ouf,l8ndi~ jWgments 8~insl yoo?

t;\. Ha~ you lied for 'NfY ~

"at hM not

~ le$otYed1

o. Are YC1J I party to a laMuil?

d, Are you prMenUy dehnquenl Olin defaul on any Federal debt or any

och!r loan. ~age. hnoal ObIigBtiOn, bond. or loan glIInJ1tee?

Ilf Y~. ~ oel~l\~.llleltding d...e. neme and eddr'm of Ien(ter,

and reason for

FHA or VA else number (II.pPIca~,),

Ye,

No

~
Yn
No

0
0
0

[lJ
(i)

dlllnque~#d.f8lJr.]

(2)

e. 00 you in\end to orhJf1Ilt\e orcpeoy .. yOUr pNmaty rnte1ence?

f. Ate yOu aCOrrNker or endorser on cl note? (Optional for HUD)
g. ~t: y(A6 a u.s. CJCiLen7 ()pUonaI for HUD)
h, Are y~ penna'*'t r.&ident eIlen'l ()lAiOOal '" HUO)

\Mil proceeds From this loan be used fer Home Improvtment8? DYes

No

[lj

0
0

EI

0
I2J

[l]

[3

0
0

If Yes, hOW much? $

'IMI, MI' FOl'm 1009 0512004

p.gt2 Of4

.~

. :j .

,.
:
. ,

,
.. .
~

.~
I

,
i

.:

" ~i
.:....s-.
N~.

1490

p,

VII. Aek.,owradgmont and ~tnt

EAlttl of lh8 underaigned arlOClficaly regt'$8nts Ie Lender and Lendet, aduaI 01 potenUat agents, brokers, proc:esscn. Illtomey$. 1OS\JI'erS, GeNIcers, ,ucc:euors
at'd 8 S . and agreea ana a~.d988lhar: (1) tlle information provided In lhIa appbtlon Is trua It1d c:crred II of the date let b1h OPJ*tt. my $lgnaue and
1"1 JnlQntionII or negliger4 ms"I"senta1Ion oIlhiI normelal c;orUined in U- application nlay rr.ull in cMllabily. induding rnonet8tY <mages, 10 any
pelion vila may luffer any IQr.I <tit t~ 1'fI1Af"tr.t upon ~ mtnpr8serUtion Nt I heV8 madl on IhI& iAJlcaUon, ardIeI'ln a1ninal perJllles indud'~. but not Imit~
to, AN or rmprW1ment or boVl \nfl' N provisions of TItJe 18. Uried SlaIn C~~ MC.\ 1001. et aeq,: (2) O'tt loan requested ~uant to this IPI*ation (1t1e
'\.oan'j v.f ~ !'eQ1e<1 by mo~ or deed of wst of the property ~ t'1eteJn; (3) It"Ie J)rOP8tty wI! noI be used far II'tfDlcgll or prohitjed purpcm: Of ~
(4) d staternef1ti madI n H. appJiCation are nwJe for the pul})OM of O!:lt""ing a teslddaJ mcriQagB 'oan: (S) the property "11 be occuPed n ildicated hlreh; (6)
8fT)' t:1MV!JI or stNicer of (he Loan may verify Of revelfy 8J'rf nfo1Tnelion contahed In lhe appblJon tom ttrfIsouroe named h t1Is eppIcaIion. 'nd Le~, Its
suooe,.ort or aulgns may relain the origNI ~ an IladlOnt recon:t of INs fIPI*.ation, I\lIn if the Loan 11 not eppt'OYId; (7) the Lend.. and itt egentl, btokart.
InsUIVra. seNlcers. successor1 end -Sl'" mat conllt'U)Ully rely on Iho inbmalion exxuiled il the IlIpp1calQ1, .nd Iam otlliglted 10 amend a~ar supplerren\
Ihe information provided In ~ 8pp1iC1Uon Iftf of the malDriei racts that I hi'" repraer*'d ~ SlYJUId d\ange ~ 10 closing of the l.oa't (8) il tho event IhD1
nT)' payments on ~ LolU1 beeQme delinquent. lhQ 0'M"lIf' or servlcer Of the Loan
in addiUOt' l\) .trr 0Iher rtgt'Its and remectel fW. may
relltng to IUch
del~. repm my"1mt end ICCO\Jnt WcnnetIon to one or m~ CCA\mer ~ reportr1g egende$; (9) OWr'ttfll'ip O'N Loan GldOl ~1Jon of the
LOIln llCCO'.l1I may be transferred ~lh such noClce as may be required bv IIIW; II'Id (10) neht Lender nor fa agW, br~. ;'snrs. seMele", SUCtle$Sor1 or
assigns hal made Ittj rtJ,teltr(altQn warranty. express Of mpl8(j.lo me regard;'; " property or ~ condidon or vaaa of U1e property.

"'*

may.

nave

CertlDcadon: 1tV.'e certify thai thBlriormatiOn pnwtdeO In lnIs ~catlon II we and errect I~ of the date set for1h opposite my/os eISI"'\\n(') on thl, applicaUon
Dnd acJcnoWedge my/r:J4.I undanltltnding that arty intenUonal or negngent ""SJeS)rese~'Uon(,) d lhe Infonnatloo contained In Die applicatIOn may "I~lln dIAl
.abllty and/or criminal peNliteS inetudlng. blt not linliteCI to, InG ~ ~sonmlllt or both under the proYislon, of nU8 18. United Stete COde. section 1001, et HQ,
l'lld Gatli'ity for monotary damages to the lender. Its_gent.. IUC08uora and ,asignl. insurers Dnd any other person who may IUller IT'tf lO~ due to reaa~ l.IpO(\
ar\)' nlI"Ql)rl$entadon W1ich IMe have rna on INs ePl)ll(.alIOn.
8orfOlM:r& S~lure

Dale

\ufO

tQ

The fOI~owit\g inrOrmaUonl5 requested by lho Feeleral GovemMent tor certain tvpea of loan& related 10 a dwelling In ord8llo monitor lhe lender'.
complianco with eQual creOit opportunily. fair hoUllng and home mortgage <Hldosure taws. You Int not required to furnish this il"fornleUon. bU' art
eneourDged to do 10. The Ilw provide. that llendtr may cM$crimh19te ~lher OIl the basJ$ of thl, information. nor on whether vou choose to lum;sh
il, If you lurnl$h the l"'orm~tlon, plea.- prOVf(le both ethnldty Ind fece. For race, you may check moAt ttlan onll design.non, If you do not furniSh
elhnlc.lty. race, or ,ex. under Federal regulaUons, this lender I, r.qulred to nole In. Inrormalio", on In, blsls of visu,1 observation or surname. Ir you
do not wish to furnl$h the Information, please cheCk Ine bOll bel4)W. (Lender mv.' review the abewl matettat to assure that thl dtsclosures satisfy ell
lequir.,rnenta to which the Lender I' sUbject under IppHClbse slate law 'or lhe plrt1cular type of Io,n appllecl for.)

_Mil.

TO BE c;OMP~D BY tN~VlEWER
TI'II'_~ Wit etlienrtf

Stx:

Park Avenue Bank

8375 SW State Road 200

L ,..~"'fICe rnttr\iaw

...

Ocala, FL 34481

rellpnor.

(352) 854-2265

NOTE: FKA. ~\SU"es reverse rnnft98\1t. for one 10 foUl fanlly units urdlr vartous prO'ASion& of the N.tblll Ho~ AD.. Tl'8 mformaiion conte'*f on the
IotIn appll~on II COllected to detetmi"1e IlIlig1bl1ty for' UWt program ee weal as wve ee venbbon of the appueanrsltalements. Tha perfOmwlat function of thII
agerq WI be inp~d by c~ this ~ta .., detetmin.tiOfl' ('M be meet, regarding !he chariQe"'b of IhoH bomw-e'1 obIM1ing HECM IOMS. The ~Ic
Reporting Burden for Ihis cdIec10n Is eltmaled to aV8f'1ge me hour Plr fUpon5e. InckJdiV tine for reviewtrg instnJ(1;ons, seerchilg exlsUng dall SO&.JCeS,
gather1r<J and mslnl8inng Ile dI~ and ccmpleUng 'rd re~ V1e eoIIedlorl of ~formatitvl. A respon,e 15 req\-red to obtain aHECM loan, tM PIf1ie~ ere not
required to ue this per1iwer form, Thie infonnaton i$ GOYereG by lhe Prtv,u~y Ad.

Fannl'MH Form 1009 05'2004

f': :
. ~".,

.:

i
~l

.~

M3.Y,

3. 2C I)S 9:53A.\i

No. 1490
In.tN~tion8

Y.

..

for compledng the rt,lde"OIlloan application for revers. mortgage.

(Fannie _&1009) Ind Addendum
So,'11 SKurtty Numb,u Enter fie ef)~" aodII,tc:urity t1umbtr.nd CiO
'pp1lcanrl SOdII securtty number Ipplablt.

DR riM I" .,. IppfQn1'1 bi1h dl&t, .,d ~Dl)IicaI\t. DlI1h de If.

1.1".tNcUonl forcomplftint \ht ml6lnUllloan

,."Ii,riOft

'or JIV.,.,

~I"

fat the boll'O'A'9r', 'DDlCdOn 'or. f."nIt Met con","tion_ ~VCt1. MCI1\gafft (Hom.
KMpet MQC1gIgt:) or .n FtiI\-lIUurecllr.OIH mo,,~. (Monte Equity CotMRlon
MDltG191. 01 HECM), Ihe I~' "-I "'. oplOn rJ "1In~ Ih. RMidentill t.~n ApplbrJor\
ror ~t""lM MOf\gIG' IF.,,,~ MI. J:OI"l 1008) or trte UnJonn RidlnlillLDtn

AppaliOn (j:'led<Je Mac Foml6Stflnnit MH Fcnn 1003>

For both fcnt\$. t tie '*91g' I~.j ~ it I HECM. tM )oCIJ[WA ACfdtnd"'m (HUO
9t3()O.,a.) mUll be comp:.tld.
Ttw RllidlJl'l~iIl

~e COMflIettd u

L~I\

APQblion lot R.w,., Mortgl9l. Flflnre M~e FOIWl100', n."l

dI&eltd btbw lor the Homo Koo.-' MqlVl elf th. HEel,\;

~=;g~ ~.;: :~~=:~: ~~ ~~r:nrnot1glge 'ar~;:J, IPptk:.alion Iii btng

mlde: Horne KoeJ)er, ...eCM. 01 011" type 0' ~YMI mor1Qaoe. It Othll' I, NIK'Id, 1111
"~, plOdue.t muM M splGlfied.1f HliC~' is teleae,1. chi HUONA Ad':tlnclum MU,1 ~
~pleted ."d allJCl\tc:l1O \he .PSlIcItion.

mona.

,HA Ci" No, .If .,.

epplled for II HomI Ke.,.", M steUDn IhoUd be lilt
blln~. I' the mor1G", ppIitd lot is a H6CM. tnt ,HI. Qlse ,.,rnber Ihould bI ."ttNd
fQlQWl<l by 'fl. '!)propri." SlCtior1 d tile Act N;)P Cod. rOt H!CMslillm below;
HUo.'roceaud
Olrtd
IftCIOrtemenl

,AnignmenVAdiUltlbl.. rt:C

AulQp\rntl\l!'Fb.-.d-I'II.

91'
912

Sh,red p,.miJnVFoced.rate
Shlmt P~MiUl\"AR'"

91$
914

953

snare<l Ap'PNd:M:lft/ARM

91!

051

9'~

Sh.NQ App'eaIKolV'F~\t

"1
V~

017

g,..,

9111

85.

~"bJ.C' Prop.!ti Addr.... Th. addm. of ", ,pp!ac.lnt'l primCtlY 't$~enee

ildJdn~ 1M countt
a~ \hili Zip codHhaullJ be 8I\LltVd.

Ram"

leg.1 Dellriptlo~ 01 Subttet PIOtt.ttI !met' U1e leg demtpUcn

~~t..1",,"IPplfr.lblt.

'f
*l'"

MafnItM ContaGtPftOl\ the IppIIr.Il"oan it for. HolM ktePfl' ~, pmid. ".

l\lme, ~omt
end ~0&'Ie "'Imber lot. t.mty ~, trilnd. or IrMtor to".

add,.."

"**11'1

applicant. Tneoonut P'~ ~ be lomtOn,who _~." to 'nell

,.OUW~un:c.aQOt1
f\pplctnl.'~1t'I. Nnw inf'ocma1ion for hi co
IPpllc8nl,l.ppu". (Thit In~ opIOnallGr flt H!CM lOIn.)

I"UO" rII. Lltns ~1"lt 'Th. ~

Itctlon v. Non.,." Ill... DtbtI

pi,"

or tnt P"JtIIItY n

.hOwrt on tee flU. "'IUl1IflCt oOlllmtrNm f'r SUMy. Thl 119'1 d-.sertption

t.~~

MI,....... CMdt bo1 thaI ...1MntI 1M applied.. mtnCII 'tltut.1t ae~.,.1oct ~ut
not diYotc., the l~aA'ie<r bOX .,,~ be ..raid. PnMdl 1M HmtI inIonnICion for 1h. GO

LISt \he total of .. dlbca no( ,.I.\td 10 ,.at

L'ndt' c,a. "0. lndl=w Ihe cal. number ulIQnecf by t~ I~""'t'. TNs OUI number
con be Iny comb.,a~~noIle.II and numbtrt. I' d.twmintd by the lendor.
LL',n ~'Y""nt Pl.... In<lie.'~ tl'!e Pl'/ft"lel"
111 which ~. '~II intel'nled. T~e
apP'Clnt at" cheng, 0".. payrMl"lt ptan M~ ~l doel"".
SpIN'" Loan Fe.....,... The ECIUiCt Snn ()eltlon II oft./ IVlI,bI. lM'Ider tit He""
K..ptr MOnQeg. O"'.r ,~., loin tNb.I,., portanil'lQ to ~CrPIc r....," MOnQIQI
Imldu~ rnuS( bt ~c,r.ed In ~ lpace plClvid8d.
AmorUMtJon l~' .Ir'drftMW1NCkI1I cr _.~~MJ Imoltiz8tlDn.lf ARM
i, M1.... lndul. if IIdi'.~~"t"'1'lI occur ft'O"tNy 1M.l1Dy.
SHtion II. P~Pfrtll"fortftlUon

'001, k'1Ir'l ,pplr... ~ If illt Ien~lt'ly.

V... Of ""Iet,not .\ tt,..tM Add,.... En. 1ht numbw of y,,,, f'C t~nl nes
rtlidlCllt tht IUbjict PfOcertY lCldI'eu, PnMde ... M"" Wonnalian b til OOIpp~\

~ and c,*red .. ft. tplCIt ~ .

8se

CorwfO(FllCtd)

Mon1hty Incomt enter '" ~can1'I monHy ino::lml, 'nd co-tPplk:anr~ monHt

inc:om if Ippliee~e.

RMIt-. AN" e..ttr\CCII vatu, d appianI'. N-'" .......

Avallablt AsIeCI Enter \ht amount of tt, IppIc:ent'. Miable (IknIld) IIMII
Homt Phon' ' Ertter ~ .pp1ic1nl's home phone number, and ClHpplanh horne
pl10ne nu~. j .ppliclbII lndudt"'l Irtl ~e fOr Nda pt1OnIlU!lblr.

Th~ ,,~", ",Ufl "~. IrlroKnaliOt\ 01'1 unpeld lena auBinet the ~rty. 'Thw name

."d add... d 1M crtd~gr{,), ., well a .,. ~ ~ numDlr(I) .nd bI1Inc4(l)

OWtd. mUll N ~. nit iotII unpeld blllnc:. of "nr. ~ ~$ -,*,Cf be

U2

CotKlo (.4RM)

IJ)plicitil

"'.1 M ott'Chta

a".

,tctIDn VI. 0.011''''0''

The .pPlQnltnd CN~"r. r .. ~ mus,~ bIodc' I MNQh f.. u"n;

""'I' Of 'Ncf II rtlPt'""', ~ d. Nq\Im d".1td ...p1.~on if h r'.pon il

eftirmIM. BlocIcI t., g., lind h III not rwquirtd f HeCM "'lIon

8.ctiDn VII. AcknowfMgrntl1t Ind AI'"""''''

Th' '~I.nd OCHppbnt. ~ .ppIral., 'houid ..M thi$ -..on e.,.tt,
lnCIICallll'lt dati cA IlU"A'!rt, end Ilgn in the pMintnt block,.

Section VlI.lnI'ormdon Por Go'lmmwnt Monitoring P"",ottt

1llue bIoOi May be CQMplNd. It the borrower choose. not 10 fumilh 1"1 or all ef Inia
i"ionNlion. FelfCMI Regll~$"Ie "'" f'e ItnOe' f'lQIt Nt cnok on EM
'PJ:lIicltian. Fedtrll RtgUlltart . .
the Ilttdfr to nolo Vto rlC'e ' I\AUo,* ~1I'l
Ind te.lC 0' "'e ~D\t'_t on '" lt4sb fA ~.I obIervItIon Dr surname. TtIis Infarmtlon
iI coIIectId, in pitt, for the HolM ..tong. Oi~ nt ~DA).

recr.n

2.IMWCUOftI forcomplMln. the HUCIVA AlCJtncf"'"

(Fotm ltt900A)

No. CJfU1b Ent.r lht numt'4r of IwV UI'!t OC'\ tno ..ubJoc:t plOpelt'/. For t.QMple. .,.

\IlIOutd be UMd II; Indlcltt IIngI.falllly proptRf. ~. wowd indical9 i d~ca'. tt~
V. .au.-In6et.. 1t'11 yt.,-Itt. propmy wn ClOfttMied.
iftmIla ofAAn_1Cl VIIUt En.. In ,dmlce of ". ptOP9rTf ~Iut.

~1~tiOI\

An ~~w:t

la fIOt naury II ~Ilon wi! occu during .". ptOp8I1y Ippre,,"

ptOCIn)

R"Id."~. Typt Pltmary NSlCltrlC.e must De C"telted. Chid; -prim-r ...Id,ra' .nd
InVlltl'Tl.nt ~riy. if .pplbnt ,.,~dt, In I rNI'",~ ptOIMltr ~'\O'I r"nlllltn.n~

Proper\y naJt It He'd In n.. Him" l~l ",mil of .1 ~hholdm to tile prop;rt).
P~ l1t tottlCl ,. ,lde ntIY how ." property ~hl. In hltd: rllliimpl. tfe nta\t. or
In.w!hold "tale. UIt'Hhdd tstllt IS Itleeltd. enter the C>lpllllJon d.~ Of Ule 1Sf. /I
ij~e i' also hlld as i" Inc,r ~yos ~Mng) trull, d1td: the torr1~i1; bttx

s.cUon .L Jorrowe' rnro...,.,,~"

Banow."" Nlme IndICate the ''''Ilteal name or vw ~ I' \1\, ~.1'tOI011

lLqta~,

Co"o,rowar'l Him. lndlca.ch. ru'ltgll

tifetlOldet to tie

*"bit" propt1tv.

"'IN of tn.

c(>o.pplican~ illllio ..

to.,,,

PART I .ldtdVty." InfOtmdon

~ ofIN Act(8IOCk.). Ift*' .... um. cod. II\"~' me 'tiA QIII

numbtr In Stc.tion 1 of ",ID.n 1PPI:cItion.

loin Amount (BkDi 7). Thl ~ InilIhcM/.d bt tnWNd in . . b10dt

,,..tRIII (BIotk '). TM ~AwrtGl ~ "",,,$t Rete rQl)~ rate'
,ho.Ad blellltrvd in til. bkd:
.. Bloch 9. 10, '21.. 12b., Ind 20 shOutd nOS bt ~Nd.

'annle MH Fg,m 100t 0&2004

pI(I14 ot4

'i
t.

;i
,~
.r

,.

..
\

r.

~iG,~,G~

f'Ac

..:.

o~~rifproVai No.

HUDNA Addendum to Uniform Residential Loan Application

2. AgetIC~ Case No. (InClude Iny .ufn~ 3. Lander'. Ca. NO.

Part I Ident'fylng Informallon (marlc thel;'P' of DPPllcellon,

,n

VA AppI~lion 10r
X HUgIFHA ApoItclllon for INtlranee
HO"'IJ Loa" GUtr."t~
"natr Ihl Nalional t-lou,ln Act
S. eorrow.rt Him. & P~$e~ Addr... (ll'Wl~'lIpC04.)

1.nelop. Gil1p1.

809~ ;w 11Sth Loop. Ocala, FL 34481

, PrQP'rty A~d"U

(1"~~9 nMl. aI.u~&lO"l, 1011

$0'2 9W 115th LOOP, Ocala.

2.500.00 $

DIeck no. S. ziO cOC!OI

rL 34481

,,.: ";~'~~ .~;:::. ::::-"'6.~re~ .~,!~de.~._l

095280gtt1

:.. '..::::

month,

4 fmo

1.,SponlCr I A;enll.D. Code

13. L.nd."ll.0. Code

211090000S

::.:+:i~(,: 'f:::'.~:' y:,~.::::, ~~;;~~~:~~:::-~:~;:~ ~:e ~ 00

~~;;a:~, a.n<:ho COl'~ova, a "670

. 83'1S SW State Road 200

'.:~>:;~ '1.Lendll'IT"ephOntNUrn~r

" .OoGla, PL 34481

':'.:' .::> :.... '.:ryP~~~~:P~i~{'8Ii~entrl~~'~I;~'~fY ... -;!::': ~.: :7~:~:1:."~~: ,~:;:~t:.~~t;;

(52) 854 .. 22S5

VA: The vetuiln iJOO \he lender hereby apply to the S~etalY of VettlanS Artalrs ror Quaranty of th,loan described here under Section 3710. a."pt,r 37, Title
38. United Stlt~ Code. lO Itt- full8.\:lent pemUtled by Ute ,..Ifranl s eo~tleme.nt iJnd uwmlly qreo thilt the ReSlJJations PIOmu1pted pursuant 10 ChapLet
7 a
ef
0 h' I ~
al
. Is u',
d'a' "e
.
"1 Rrll Tim.
~~t)IJyer1

a.DYes

b,0 No

't. v. Only

H. Purpo Of LOIn .OI~1(f g. 12 Ire tor VA loan.onty)

TIU. wfl M V.~lld In:

veteren
IVeteran &. Spouse
,Oth,r {tp.cify)

1)
2)

Purthft~" ExietinO HonlQ PreYlously OCCupied

Fin~~, Improv,rnen,. to l!Xl81Ing Proplny

1)

8)

3) , Refinance (ReQ,)
8)
.. ,)~ Purchase New Condo. Unit
10)
5)
Pur~haee Existing Condo.Unlt
11)
6)
Purcn... Exilting Hom; Not Pre'Aously Occupied 12)

COOStNCC Home (p~dS 10 ~ PAid QI, ciPlO CDl'IIlruclion)

FInance COop PUI<;hase
Purchase Permanently Sitfd M.nufaol~red Home
Putchln Permanenly SiIICt P.4lnufactured Home & Lot
At. PermanenUy Si1td Mamfaeturtd Home Buy Lot
ReIL P,rrranently SJted Manufaclured Hom8ll.0t Loan

'0

I'rt II Lende", Certl 'catIon

Z'. Tho ,'"d.rl5fgtled lender makes the following c.t1lficallons 10 Induce the E. The Unrtotm Aesldentlal Loan Appkallon af'd thie Add,nd"m were ei9".d
by 'h. borrowtr after an "teUona were completed.
Cepaltment 01 Vetll&ns Affairs to ',sue a ctr1Jllcatt 01 commitment to
gUlranle. the subiect loan Of a Loan Guaranty CtutilicI10 under nu, 381 U.S. F. Th;, prOPOled loan to Ih. nam.d borrower m.etllhe Income aod cre<1lt
r'Qulremenls of the governing It." In the Judgment of the undorGigne<1,
Cod or to Induce the D.ponment of HOUGing and Urban Development
Fede,,1 HotJalng Comml$.loner to lieU' ft f'rm eommllmont for mortgage Q. To the beal of my knowledgt and b.l.f. and my firm and itt principals: (1)
l'lre "01 pteHn1ly debarred. ~pe~, ptOpod tor d.barmen', declared
in~vt"nce Of a Mongege InsurancD Certlficltl under the Nallonal Housing "'CI.
lneHglble, or voluntarily excluded lrom oov....d ttan.actlon. by any Fodoral
A. The loan term. furnished in the Uniform Reeid'l'Itial Loan Ap1)llcatlon and
depanmenl or agency; (2) have not. wit"'" e Ihr".~ , period precodlng
Ihi' Addendum are true. accurate and complet.,
this proposal, been conYlct.d 0' or had ~ Jud;m.nI r.nd.red Iglln"
B. Th' infOrm'tion contained In the Uniform ReeidenUei Loan Appllcatlon and
Ih;m for (II) comrmllion 0' fraud or a crimin,l off,ne. in connection with
lhle Addendum we. obtained direotly from the borrower by en employee
obtaining, attempting 10 obta'n. or performJng a pvbHc (F.deral. Sill. or
of 'hi underlloned lender or ite duty authOrized agont ~nd lalruo 10 tho bett
local) trana.clion or ~onlr.c:t under. public tranaaetlon; (b) yjolallon 01
01 ,ne lender's knowledge and b.U.f.
Federal or Stal. armtl'\.1t ltatute. or oornml..100 o1.mbezzlem.nt. theft,
C. The credh ,eport submitted on the eubJtei borrOWQr (and coborrower II
ony) was or(tertd by the und.raig"td lender or hs duly aU1nortJeet agent
1orgery. br'beFY. flt.lfj~tio" or deltrue"on of records. m.klng "Iae Ital,
ment" or r~lvlng 'tolen properly: (3) 11" not presently Indicted for or
ulrec"v from the Credit burtau whIch prepare<i th' rt-port and wae r"cefvtd
oth.twlM erlmtnaDy or civilly charged by 1 governmental enlily (Federal,
dlrectty from said crodlt bureau,
O. The v8.ificarion of employment and verlficl\lion of deposits wore requested
Stale or local) wlrh commission 01 any of Ihe offenses enum'l1Ited In
and recelved by &he lender or i\5 duly authorited agtnt wilhaUI p."lng
petaglaph 0(2) of \hI' ceniUcalioft: and (4) have not, within a lhlee-year
thrQugh Ihe hends of any third PCI30fllS and ~re true 10 the beet of the
period preceding thl, appUc.tion/prOpoial. had one or more public tlanl
lenaer'e knowlodge and btlfel.
aotlon, (Fede'.I. Stl'e or kJr.8l) I.,mlnlted lor caU8f Of defauli.
It,m, "H through wJ" .... to be campl.tld as Ippllclble for VA 10lni on'y,
H. The name! and 'tlnctions of any cNty outhpo;r;Id Iggnl WhQ developed go bcbd qf th' !end IT MV of Ih' Inform !lUon Of supporting credit dB !ubmltttd VI I I fOllqwt:
Wlm. & Addr'll
"""cu.,, ('.0. Obl*'ed Intonnellon on lht UnIform ANicf,ndatloen

AHIc.1i01\0IGtftdcrtdll"':wr1.wnlicaMoI~"0tCl0IIb

r.

am', m.

IC.)

dim

no a~an' i~ 'h~n
unde ralon I.nd~r af1trnUl1lvelr certih". lha~all i ~rma 'on and 'ug~'lintfr,f;ii'
w.r~ 0 taine trtCl ~ I . ende,.
w~t ~h~~Qlft~~ a~e:5d':nY~le~~'land' lint' agroet lhat i it r.lponclb e 'or t Q om sclone. errors. acts agents 8nU ad In ilem 81t 1 e function'

J. The prOpOsed lOan conform. othe/wll8 wilh lhe applicable prov~jona olTnle 38, U,S. Cod.,.nd or the regulatione oonetrning gueranty or Insuranc. Of lOan.
~l\IlIJ'e

Hleero"

~.

T~

OI~erO'Ltnder
I

r.,pan...

J,.
~~Oq

/
II"'
0 orI'OW.,..
g r n r I,
lion 0 j rnA'
" tmlt to avtr.Oe ml"l,J per
8 tim, I
{..,., roviewing imstruotion&. eearching O>clatl Ig cu.ta GOUre gathering
rMlnlainlng he datft needed. and complellng and r'''wlng
oolleQIion of
Ttli,
agency may nof conduct 0' sponsor. and a person I, not requited 10 ntapond to,1 coIIeciion InfOrmation un1ns lhal collection dlspllYl1 Vlltd OMS control numbe"
Prlvlcy Act 'n'orm.Uon. The Informattoo ,.qullied on the Uniform Aelid.nlia' LOI" App1lc.tfon and 1h11 Acfd.ndum II authorized by 38 U.S.C. 9710 (if lor DVA)
t\nd 12 U,S.';;. , 7()1 et ,eQ. (If for "'UOIFHA). Th. Debt CoIIQCdon Act of 1982, Pub, Law 97465, and HUD's Houllng and Community Development Act of 1987."2
U.S.C. 3643, req~ire perSQn" IIpplying lot .. fedttaUy in6uI'td or guerantQed loan to furnish hI$'11er $O(;lal stcurfty number (SSN). You must provide an ,,, requested

~nd

jnformfl~Cln.

Inform,ulon. Inel,J(Ilng your SSN. HUO and/or VA may conduct. computer match 10 verify Ihe information you provide. HUD and/or VA may disclose ce"lIin
proHMons. 11 Will not othetwtll be dlsaosed or
r~le8eed Q\lIai(te of ~UO or ,!A)C(:lpt 1& l'eQulre~ end permitted by law. The InformalkN\ will be used to d.t8mne whether you quaUJy IS a mongavo', Any
dlsdoluro of lnformauon oUISIde VA or HUOIFHA wUI be made only ~, p,rml"ed by law. F,ilvre to provid' eny 01 the rtclue&1eCf informatiOn. inCluCJJl1g SSN, may

inlonnlSUon 10 Fetteral Stat. and Iocallgenet,s when relevant to clvU. criminal. or regulatory Invesdgadons and

VA Form 26-18021 (3198)

pa~e

farm HUD8210QA (QaI2D05)

oe

lH
~:s ~.

~::1r

ff

i~;': }

~::~.f

:- :;~"

~:.~ ~

~.

~~ ~.

~~.~

"

~.~ l

~.~
i~
~

N.o' ~

;::l .

.\
<

III
,..

).

'. ~

~:~:~ ~:

MiY. v.

.:

f.

:
~

,
)

'.
. : r

2C(Jo i 0: 03.~M

.J. ..

~L

~.

No. 1490

:. iG.~GE

f'AB

P. i 9

r"'ult In ~1~pproYal 01 your loan appUca~on. Thlt i. notice 10 you as ~uJ'ed by the RlghllO Flnantial PrivaGY Act 01 1978lhat VA or HUOIFHA has a right 01 ace,,,
to financial recorda held by finandallnstlMions in cannee1fon wllh the conaideration or adrninllttltfon of ...,Islance 10 you. Financial r~.d, inYOlving YOUI
transaction wlfl be ava"able ro VA ."d HUO/I=HA without rurthet nollee or authorluaflOn but will no' be dJsclolld Dr
ed by thle inltitution to anoUltr Gov.tnment
Agency or Oopar1ment Withoul your conHn' except 81 requited or permitted by lew.
Caution. Ollinqu.nci.., default tOlodo$u,el and abuG08 o. mortgaoeioane inYOMng proglams of the Pederal Oo\'trnment c.n b. C0511y end detrimental to your
credlC. now and in tne future. TI\O lendlr in ....i. tr&o.aQtiOtl, itt agoo" and Ils'gna II w.D the Federal Gcwelnm8-'I. It, tgtnOiel. agenl' and ultgn., 're
auttloli:ed to take any and ell of fhe fotlowino attion, in the evene loa" paymenll become dltinqullnl on the mongaglloen dMClibl(f In the attached applcauon: (1)
Aepon vout n4me end 8CCOUnt InformatiOn \C) arect~ bureau; (2) As'ess addldonll interest Ind penalty charges tor tho poi\Od of time 1tt.ll)8~mentls noc mad.~ (3)
Au.ss charge. 10 e<wtr addition" admlnillratlve costs incurred by lhI Government to ,elViai your account: (4) Offltt amovrttt OYIed to you under olher F.d.,..
prog..tm5: (5) Ref,r your .~\In, \0 l' private el10mey. coleetlcn ag.ncy or molt;a",. "rvlcln; agency eo coUect lhe a"'C'\M11 dUlJ, foredOH "I mort08Q'. 1111 the
prOpeH'1 and $ttk jUCSornsnt Again'l yov bf any <Mficlency: (6) Reftr your accounl to the Deparvnent of Juctlco for Ulio*tion I" Ine OO\Jrb; (7) nyou Ire a curr.nt or
retired Fed'rsl employ". 1M' letlon to olfHt your IIrary. or clvU NIce ",til'""enl b,n,n,, (8) Refe, your debt 1Q the Intemat Revenue Service tor oftut toWne'
any QJT\crunt owtd to ~ IS an Income tl)( "fund; and C;) Report 1I"y resulting writto"-oH debe of youre to ~e Internal FWvenuo SeMe your tosbl' 111QOm'. All
of 1he" .cUon. can and wilt b. ultd \Q reoover an deb\$ owed when It Is d.termined to be to Iht interes' or the lender and/or th. Federal Qoy,mmenl1C do so,

f.'

.. ortOwer on.en or

dm ns r. on 0

a Icur

oe..

ur V um r

I ilumrizi the SoCial Seeunly Adrnif11f1ration to verity my Social Security number 10 the Lend'" Identified ~ this document end HUD/FHA, Ihrol.lgh tI compurer
milch conducted by HUOIFHA.
I understand that my conatnt ellOW'$ no aOdi\ionaJ IllformaUon from my Social security recctda 110 be providfd to \he Lender, and HUOIFHA and thal verifiGaUon of
my Social SQcurlly number dae' not cone1itute confiln1ft~on of my idemi~. I also undetstand that my Sootal SeGU.ity number may not b. utld for any Othll
9urPO" tnan the one 'Illed above. Inc:ludJng resale or redlsclosuro to oUler partin_ The Qnty olher lodlsclo.u.t PQrmtHId by thi, euttloriution is for review
purpou. to '"'Uri that HVOIFHt\ complies with SSA's conltnl "qulram."II.
I Bm Ih~ Individual 10 whom the Sod,1 Security "umber was issued or lhal person'. legal Qua.". I d,oI~AI and affirm undlr lh. p.naHy of perjury that the
InfonnallOn contained hfrein il1rue and Garrec\. I know that it I mekl aoy rep,.ntation that I know Is ',Ise 10 obtatn Inlorr'ftatlOn from Socill 5ecurhy records, I
cc:uld be punished by a fine Cir Imprfsonment or both
Tnl! coni'O' I~ v,lid for 180 daY' frpm th' datI ,Igned, units' Indleltd 91btrwi~. by the 'ndjyidu81(s) named In IhL3 loan @pplication,

SI9nature(&) of 8ortowel(s) ReAd COClHnt carGfuly. ~1Vi.w accuracy of eocialsecurlty numbor(c) aftd birth dale' provided on this 6P~Or'l.

~
~ <7~!

IJ-i-/Q/,<o, .

1 Dr~.:~)1

V Bor;;;w;,;rttncallon
22. Complete the fOllowing tor a HUD/FHA Mortgage,
221.00 yOu own or have you laId oth.r real eS\lle within the

I. It to b8

1220.0rlolnal Mortglge ~

loId7122b. Sal,. Price

0 Yes 0 No 0 Yee 0 No

PI,t 60 mQfl'hlj on whec-oh Ihere was a MUD/FHA mortgage?

0 , 00

0 , 00

~2d.Addrels

22.. It 11\. d\\'elilng 10 b. cover.d by thi, mortgage I' to be rented, is It a part of. adjacent or Gontig\lOUI to lIlY proio~Ubdjvl$ion01 gtOVP Of conc.ntral9d
rental proJ)trtiellnvolV1ng oight or mar. <l\V.llin~ units in Which you have any tlnanclallnter"t1
Yel l!J No If Yes- givodltella.
22r. 00 \'OU own mora fhan four d\~ellinoe?
'lee
No HYes" submit form HUO-D2581.
~3. Compt"eforVA-Guaran'ted Mol't9age. Hay, you lVer had I VA home Loan?
No
24. ,AppIlClbl. for Both VA l HUD. ~ a home loan bon ower, you win bo leoln)' obllg,ted to mftke 1"0 mortgago p.ymentl callod fOf by your mortgag.loan canttace,
The laot t~t yO\! diapo,e of your property ,fte' the toen ha, been made wlU not relieve you of UlbiJi\y for mlklng thlM ~ymlnla. Plymenl of th.loan in fun
f. ordinarily the way lI.blUty on. mort~venott incf.~< Somehomlbuvershave Iht mi&taken imlJl'81lion that" lheylell tholrhom..when they mov,to.nolh,r
locality, ordlSpoS9 oliltor any other "ason., mey Ire no longerliabla for the mon~.gQ paym8tt..."d that habiPty for th"e paymentl illOIofy that of tht new owners,
Even th~UVh rho n~w owner,. may 'Gr ln writing to ft"".me IMlbility for your mottgage peymtnlt. !hit ... umption IgreefTIlnl wtI not rell.w you ttOm liablKty to the
hold~' or tne notc which you slgnld wh"" you obtain.a tn. loen 10 buy Ih' propeny. Unless you i1rO able to 'ell the property to a buYer who Is acceptable 10 VA Or
10 HUOIFHA and whO will."ume Ihe payment 01 )'0'.1' obligalion to tho len<IIr. you.,,1 nol b. r.lilved from liabBlly to repay anydalm wt\I(h VA Of HUOIFHA may bl
fl!!qviled to plJy your tender on accoun1 of def.ult In youfloan paymorlt.. The .mount of any luch claim paym.nt wtll be debt owed by you to the Peet.,ll
Gov. men Thi
jJ
eet 01 esreblished coHeetion roc Ur
I
~ I Wit not aWlr. 0
VI ua on when signed my co"rrlet ~I hI~ ,r,ot.
10 complete the IrlrlUCUOn at the cont,.ot DUrchI.. D~ or eolt. I h,yt paid
or wUl PlY Ir'l ouh trom my own r.lOlJrc.11I Of priOr Ia Ia.n oI0'lI\g tum C1q\11l1
'0 U'l' differ.nc. b'lwMn conIreet PUrcNIO prlt. or COlt and tnl VA or HUOI
FHA tttal>llsntd vatue. 'dO nat Ind will not hlYi outlaandJng ahor toan DlOSing
any unpt1d conUlOlval obiloalion on account Df lur:h oe,h Plymenl.
(4) N.ithel I, nor a~ luthorlzed 10 act for me, wllr ,.f~ to I.W or 'en1, Il(,r
the making of I bone fJda off.r. OII"Uleta ",,,o'iall for she .ale Of rental or.
or o~h.rwi .. make unavailable or de"y thl dw1Jlllng or prolMny oov,red by hili
hello" to Iny person becauH 01 rae color, religion. "'. handicap,larnllilt .cetu.
or national ongin. t IIcognite lhat any r.. trlcll"e OOVlf\llll on &hi, prop.rty ,.I,ting

OVal 0

e'

~~f:~~J~~' ~:~~~~o:::tvtt;~~~'~,~:r:~t~t~o~~~c;',~~~f~~~,~'3:~:~
ot lh, United Sialelin any epptoprlate U.S. OIauicl Coul1 ege in'1env P9florl
IPon.ibl. 'Dr Ihe violation ot 'he applICable law,

r,.

.A"

'Normetlon 11\ ~h1t .ppllc.llon " g"*' fOt the pulpoH at oblainlng 0 I~n '0
b,inGUrtdvnderlh'N.tlan"Hou,,"gN.lorgue,.meedbyrheD~NneMoIV.t.ren.

(5)

",'tJr, and the InrOtmotlon in the unUonn R,""Uelloen ApplloatJon and 1hls Adden
dum II tN'lnd complete to th' bnt 0' my knOwI.cigt and blttet. Veralcation may be

Oblllntd from tiny lour" ntlmtd here~n.

(I) For HUbOnly (IorproptJ1ti'Gonsl~edpl1OrlD '978) IhMrwceN'dinformlllion

on Ilad pairlt poilonln;.

(7) '1m ......,. I".' nail"',

tht property

VA Fonn 26-1802a (3198)

paoe2

ve. l!J Not Applicabfe

I FHA nor VA
the aondJllon or v.,~. Of

w'"I"I.

p--v~/

PILi-Co!

(J0LL YUU: eo;;j

7K

vuwrJ

.~I-

fJlek

/no!-l

hDuVL

(jo! /

oJ

~ot-.

L~ ~.

/;7aM~
JJp~

,/YV-'l f

L/~

ffy--

~~
;:J

lj.

.f

dz)

WDu-;of

/:Le

~7h~Lr~'
~'

-------- ~

I
\

8
Main Office: 8375 S.W. State Road 200, Ocala, FL 34481 352-854-2265 Fax 352-854-8784

FINANCIAL TITLE COMPANY

81 Blue Ravine Rd. # 220, Folsom, CA 95630
(916) 351-2910

BUYERS/B()RROWERS CLOSING STATEMENT

Estimated

Buyer/Borrower: Penelope M. Gillespie

Neil J. Gillespie
Mark Gillespie

Property:
1/;-"

'~;i'

",",

NEW AND EXISTING ENCUMBRANCES:

Refinance froID Liberty Reverse Mortgage, Inc.
NEW LOAN CHARGES:
Loan Origination Fee at 2.0% to Park Avenue Bank
Appraisal Fee to McCalip&Morales Appraisal Serv
Credit Report to Park Ave. Bank/Kroll
Doc Preparation Fee to Bay Docs, Inc.
Flood Cert Fee to Park Ave. BanklKrol1
MIP to Liberty Reverse Mortgage, Inc.
Broker Fee to Park Avenue Bank
Correspondent Fee to Park Avenue Bank
Fee to Servicing Company to Liberty Reverse Mortgage, Inc.
Correspondent fee from LRM to Park Avenue Bank
PAYOFFS:
Payoff to SunTrust Mortgage
$46,555.11 Principal Balance
$124.36 Interest to 6-16-08
$10.00 Recording Fee
$40.00 Fax Fee
Payoff to SunTrust Bank
$29,553.64 Principal Balance
$154.63 Interest to 5-22-08
$341.60 Closing Costs
$20.00 Fax Fee
$20.00 Release Fee
$233.75 Interest from 5-22-08 to 6-16-08
ADDITIONAL CHARGES:
Homeowner's Insurance to Insurance Market Place
Signing/Notary Fee to Richard Kwiatkowski-Have Seal
Signing Fee - Texas to Notary Central-EST
ESCROW CHARGES:
Escrow Fee to Financial Title Company
Document Preparation to Financial Title Company
TITLE CIIARGES 1 MISC ESCROW CHARGES:
Lenders Policy $132,000.00 to Financial Title Company
Abstractffitle Search
Endorsement-5. 1/8. 1/6.2/FA56 to Financial Title Company
Endorsement-Alta 9 to Financial Title Company
Shipping Charges to Financial Title Company
MISCELLANEOUS CHARGES:
Recording Fees to Financial Title Company
State Tax Stamps to Financial Title Company
Sub Totals

Refund Due Buyer/Borrower

L--.-._

42613725-823 MJ4'P

05/28/2008

8092 SW 115Th Loop

Ocala, FL 34481

""', ''-:,,?'

Totals

Escrow No:
Close Date:
Proration Date:
Date Prepared:

,~~~~i-g1i~"~lh:~~l~};ii~J)U:{;~~{;;/~:,:

$95,580.99
2,640.00
250.00
10.24
100.00
12.00
2,640.00
(Buyer POC $358.43)
(Buyer POC $250.00)
(Buyer POC $395.00)
($213.43)

$46,729.47

$30,323.62

(Buyer POC $698.00)

175.00
310.00
484.00
50.00
735.00
175.00
100.00
73.50
40.00
295.00
1,089.79
86,232.53

95,580.99

9,348.46

___$95~.?J_O.9~_~!9~~~.~~~

-------'----------. - - - -

Printed by Fatima Pacheco on 05128/2008 at 1:55:48PM

FINANCIAL TITLE COMPANY

81 Blue Ravine Rd. # 220, Folsom, CA 95630
(916) 351-2910

BUYERSIBORROWERS CLOSING STATEMENT

Estimated

Buyer/Borrower: Penelope M. Gillespie

Neil J. Gillespie
Mark Gillespie

Property:

Escrow No:
Close Date:
Proration Date:
Date Prepared:

42613725-823 MFP

05/28/2008

8092 SW 115Th Loop

Oca,la, FL 34481

L--

--'--

~_\-

Penelope M. Gillespie, Neil J. Gillespie and Mark Gillespie as

Co-Trustees of the Gillespie Family Living Trust Agreement dated
February 10, 1997

Penelope M. Gillespie, As Trustee

Mark Gillespie, As Trustee

Neil J. Gillespie, As Trustee

Printed by Fatima Pacheco on 05128/2008 at 1:55:48PM

- - - - - - - - - - - - - - - - - - - - - - - - - _ . , - - - - - - - - - - - - - - - - - - - - - - - - - --------._------
B. TYPE OF LOAN
A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
OMB No. 2502-0265
SETTLEMENT STATEMENT

1.

II

4.0

Financial Title Company

81 Blue Ravine Rd. # 220
Folsom, CA 95630

FHA

2.

VA

5.

D
D

FMHA

3.

CONV. UNINS.

CONV.INS.

6. ESCROW FILE NUM3ER:

7. LOAN NUM3ER:

42613725-823 MFP

39100

8. MORTGAGE INSURANCE CASE NUMBER:

091-4405741/952-255
C. NOTE: This form Is furnished to give you a statement of actual settlement costs. Amounts paid to and by the setU8ment agent are shown.
/tems marked "(P. O. C.)" were paid outside the closing; they are shown here for InfonnatlonaJ pcxposes and are not Included In the totals.
D. NAME OF BORROWER:

ADDRESS OF BORROWER:

Penelope M. Gillespie and Nell J. Gillespie. Mark Gillespie

8092 SW 115Th Loop

Ocala, FL 34481

E. NAME OF SELLER:

ADDRESS OF SELLER:

F. NAME OF LENDER:
ADDRESS OF LENDER:
G. PROPERTY LOCATION:

Liberty Reverse Mortgage. Inc.

10951 White Rock Road S. 200,
Rancho Cordova. Ca 95670
8092 SW 115Th Loop
Ocala, FL 34481
Marion 7013007001
Financial Title Company
81 Blue Ravine Rd. # 220, Folsom, CA 95630
PRORATION DATE:

K.

FUNDING DATE:

SUMMARY OF SELLER'S TRANSACTION

J
402. Personal Property
--------t-------+----------'-------''-------------t-------
403.
9,179.44
404.
46,729.47
405.
Adjustments For Items Paid By Seller In Advanc~
406. CltylTown Taxes
407. County Taxes
-------=-----------------+-------t-----=:.....---------------+-----------
408. Assessments
----------------------t-----------,r-------------------t-------
409.
410.
---------------------t-------t--------------------r--~---411.
412.
---------------------t-------+--------------------;---------
413.
414.
----------------------t-------t---:-::-=------------------t----------
415.
420. Gross Amount Due to Seller
0.00
86,232.53

30,323.62

-l;l' 'o.~,~ .,_ -..

201': D~p~sit'~r -;~r,;,;si';;;o~ey~' . -~

~if

~_ ~Q1J.ll._

__1~

501:Ex~8s depOsit (see In;trUctlons)~'

____t_-=-=-=--==---:--:_:_--_'_:-"---~_=_::__~-:_::::=:_---r__---------502. SetUement charges to Seller (line 1400)

0.00

.----.:.---------=-----------t--____=~~

95,580.99

202. Prlndpal amount of new loan(8)

Park Avenue Bank
203. Existing loan(s) taken subject to

2-04_.

503. Existing loan(s) taken subject to

504. Payoff of first mortgage loan
505. Payoff of second mortgage I~an

205.
206.
207.
208.
209.

509.

Adjustments For Items Unpa_i_d_B~y_S_e_lIe_r_:

t---t--=--::-:---=A-:-dj=--:u=st_m_e~n=-ts-F-o-r-'t-em-s-U-n-p-akf_B_y_S_e_lf_er_:
---t----
2_1_0_._C_ily:,..rr_ow_n_Ta_x_e_s
+
-+_5_1_0_.C_'~ty_fT_o_wn_T_a_x_es
_+_------
~ 11. County Taxes
511. County Taxes
212. Assessments
512. Assessments
--------------------+--------+--:-----------------1---------
213.
513.
214.
514.
----------215.
515.
216--.-------------------+-------+--=-5-:-16=-.-----------~

217.
517.
---------------------t-------+--------------------r--------
218.
518.
219.
519.
- - - - - - - - - - - - - - - - - - - - - f - - - - - - + - - _ _ _ _ = - - = - ----:--:------==-----=--::-----t-------
220. Total Paid By/For Borrower
95,580.99
520. Total Reductions In Amount Due Seller
0.00

-399~~,:g.i.!iJij~\~~tij~.rti.,-Jf:y'[~-':'f~\Er --~r.~~_.i~~
301. G,:~ss~~~~untdll;'f~o~B~rTowe;-;(ljn;

1'2-0) -~.....'"

30~Less amount paid bylfor Borrower (line 220)

303. Cash TO Borrower:

;tJo:{fl~ !:-~

~"86,232.53-

95,580.99
9,348.46

. 6Of.-~ss a';'ount due to Seller (il~e 420)

602. Less reductions In amount due Seller (line 52
603. Cash TO/FROM Seller:

---~-----------------~-----:----___J_--

roo '--'

L_,

r-_"I __ n __ ~"...". " ...

0.00
0.00
-->-- -

n~I?AI?nnA

0.00
~

at n?nn41 PM

ESCROW FILE NUMBER:

42613725-823 MFP

OMS No. 2502-0265

L. SETTLEMENT CHARGES:

~9Q~v;t~t@F$@I.~(E!r9.~!r~"~'~mrn,S8!9ti';-~ ;>;t~j;'!~;~k:;;1j~~i~':~~)j'f:it:;:ii;~~':':;;:;..;E0(f'~;~I~(:r~~[~J;lt1~~~~:~;~~~~N~~i:

~~ooP~$
---------------Division-of Commission (line 700) follows:

701. $

Seller's

Funds at
rnen l

Funds at

__

--:-~--=-~--:-:.-'C_o_m_m_is_si_o_n._p_al_'d_a_t_se_tt_le_m_en_t

....~~lQn:WI~b

~~

L_
J~-se~_~
----------------------11------ 1- ----------.-

-7_-02_._:__________
80Q} 1~~m8.;.'~,~~.I>.~4tJri:~q0j1

~~~

Borrower's

~9iol;]f:~~

"i~~:!;~:~:(;N~ini~fti;:;~re~i?~]~s:,,~?:.f:~;f}~~';;f;t~..

):i~~;;;ff.

1
L

801. Loan Origination Fee 2.0% to Park Avenue Bank

-----,1!
2_,6_4_0.00
802. Loan Discount Fee
I
------._-
-----:---~--------------+-----~--803. Appraisal Fee to McCallp&Morales AppraisalServ
~ __ ~~O.O~_~
_
804. Credit Report to Park Ave. Bank/Kroll
10.24
805. Lenders inspection Fee
------------------------------------------!--------806. Mortgage Insurance Application Fee

L
.l

-__

__ ~
_
100.00 _1-

808.
809. Doc Preparation Fee to Bay Docs, Inc.

810. Flood Cert Fee to Park Ave. Bank/Kroll

12.00

2,640.0~L

811. MIP to Liberty Reverse Mortgage, Inc.

L
l
--.J

~B_u_y_e_r$358.43 P_O_C_}-f-,

819. Broker Fee to Park'AVEmUe-Bank

(Buyer $250.00 paC) I

(Buyer $395.00 paC) I
($213.43)

820. Correspondent Fee to Park Avenue Bank

-821. Fee to Servicing Company to Liberty Reverse Mortgage, Inc.
Correspondent fee from LFfM to Park Avenue Bank

90Q_i:'i~cfgl8;t~~q;ij~I-('~1~y~~~!',-ij;~f~1"9~1!_-~~lij~(&itA~y!~~:f~J~;:~~;r:

---

1001. Hazard Insurance

_
_

--:1_-

~~~_~i1.1J!! ..tv~~ilqr:.o.r.-~t~JtJf~i'ii~~r;i~fri::,}~?

-------------

---------

-+,______
_LJ
L

901. Interest
902. Mortgage Insurance Pr_e__m_iu_m
903. Hazard Insurance Premium
905.

--L

807. Assumption Fee

904.

- - -.._ - -
~

~:t.-~i~;:~::~~:~:-:e-:--------------------------------L--------1-------------_ _ _ _ _ _ _~~~_l
~__
1004. County Property Taxes

_~

1005, Annual Assessments

--~-----

1006.

--___T_I~---

I
1007. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - t - 1008. Aggregate Adjustment months @$

L
L

_
_

0.00

1101. Settlement or closing fee to Financial Title Company

484.00

1102. Abstract or title search to

175.00

1
J

1103. Title examination

1104. Title Insurance binder
50.00

r=--=--=~=_-_--~-==

(includes above item numbers:)---

L.

110-8. Title Insurance

(included above item numbers: )
1109. Lender's coverage $

_
_

1106. Notary Fees

-11~Att-or-n-ey-,s-Fe-e-s------

11 OQ,~:'Ti~"~-ij~rg!~.:~.':2i1;h:]r~~t;f;.~

1105. Document preparation to Financial Title Company

735.0~

132,000.00 to Financial Title Company

1110. Owner's Coverage

1111.
1112. Endorsement-5.1/8.1/6.2/FA56 to Financial Title Compan y

-!-

1_0_0_.00

~_-=-=

_L
+I

1113. Endorsement-Alta 9 to Financial Title Company

73.50 1
-1115. Shipping Charges to Financi-al-T-ltI-e-CO-m-pa-n-y----------------------t-----4-0-=-.-=-O-=-0--t

12q-0,.=;\(;~y8,rl:1ifie~,fR!S~r~~~'r.~;~IXtaij~1er:;~_b~rg'~~i'f~:?:~::.::,;l,;:~;:J,;~~:4~~~;;i~:~~},?~~~:(;~E})t~c1201. Recording Fees: DeedS Mortgage $

295.00 Release $

1202. City/County tax/stamps

1203. State tax/stamps Deed$ Mortgage $

1205. County Transfer Tax

1206.
1207.

13pO.,~Ad~ltl(),O'.f'~~I.',m~:O.ft qhiir ;e":~~;:;:Sj:~~

1305. Signing/Notary Fee to Richard Kwiatkowski-Have Seal

1306.
1307. Signing Fee - Texas to Notary Central-EST

__L

_
_
~----L
_

l_~

:U~ti;i)j:j

1:--

1301. Survey

~~~~: Pest Inspection

1,089.70

I
I
I
I

1204. City Transfer Tax

1304. Homeowner's Insurance to Insurance Market Place

295.00

(Buyer $698.00 paC) I

------------+-1__ 175.00

_ _ _ _ _ _ _ _--!-I
_ _ _ _ _ _ _ _ _-----1.'

1=-=--=-------=
1

l
l

_
_

31_0_.00
Printed by Fatima Pacheco on OS/2812008 at 02:00:42 PM

ESCROW FILE NUMBER:

42613725-823 MFP

OM8 No. 2502-0265

1400. Total Settlement Charges (Enter on I!ne 103,Section J -and-line 502,

Section
K) _ _ _ _-1I
_
_

9,179.~~

Printed by Fatima Pacheco on 05/28/2008 at 02:00:42 PM

ESCROW FILE NUMBER:

42613725-823 MFP

OMB No. 2502-0265

~ye-r--r---------~----

~~~_iP_tiO=n===~-=--=--=--_-_-_-=-~_-=--=--~-=--~-=--=--=-=-.-=--=--=--=--=--=--=-~~-=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=--=-~:
_ _A_m_O__u_~~
Liberty Reverse M(:>r1ga~e, Inc., 10951 White Rock Road S~ 200, Rancho Cordova, Ca 95670, L
9_5,_5_80_._99__-+
_1-

Park Avenue Bank, 8375 S.W. State Rd., Ocala, FL 34481, Loan#
~Total of New LC?ans.

-----..

Printed

A_m_ou_nt
.

_
_

9_5_,5_8_0._9_~- __ ---------

bv Fatima Pacheco on 05/28/2008 at 02:00:42 PM

ESCROW FILE NUMBER:

Payoff to:

42613725-823 MFP

OMS No. 25020265

Loan #: 0035923242

SunTrust Mortgage
1001 Semmes Ave
Attn: PIO Dept RVW31 02
Richmond VA 23224

Description

Amount

Principal Balance
46,555.11

I-interest to 6-16-08
-+------r24~6

I-R-e-c-o-rd-in-g-=Fe--e----------------------mOO-

Fax Fee

~----40.00-

Total as shown on HUD line #104.

Payoff to:

46,729.47

Loan #: 07208972000002091

SunTrust Bank

41 Rachel Drive

Attn:CLS Monetary TN Nash 7967

Nashville, TN 37214

Description

Amount

Principal Balance
interest to 5-22-0~8-----------------

----154])3-

----341 ~OO-

Closing Costs
Fax Fee
Release Fee
Interest from 5-22-08 to 6-16-08

~---20]j()

----2([00
--+--~23~f75

I'--Total as shown on HUD line #105.

29,553.64

Total Payoff

30,323.62
30,323.62

Printed by Fatima Pacheco on 05/28/2008 at 02:00:42 PM

t:.":>~~Vyy

rll... '-

I'IUIVIUL..I,\.

HUD-1 Settlement Statement Certification

J have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowtedge and belief, it Is a true and accurate statement of all receipts and
disbursements made on my account or by me in this transaction. I further certify that I have received a copy of the HUD-1 Settlement Statement.

Buyers Signatures:

sellers Signatures:

Penelope M. Gillespie, Neil J. Gillespie and Mark Gillespie as

Co-Trustees of the Gillespie Family Living Trust Agreement

dated February 10, 1997

Penelope M. Gillespie, As Trustee

Neil J. Gillespie, As Trustee

Mark Gillespie, As Trustee

To the best of my knowledge, the HUD-1 Settlement Statement which I have prepared is a true and accurate account of the funds which were received and
have been or will be disbursed by the undersigned as part of the settlement of this transaction.

Settlement Agent:

Financial Title Company

Date:

WARNING: It is a crime to knowingly make false statements to the United States on this or any similar form. Penalties upon conviction can include a fine
and imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010.

Printed by Fatima Pacheco on 05/2812008 at 02:00:42 PM

FINANCIAL
TIT -L E COM PAN Y
BORROWER'S ESCROW INSTRUCTIONS
To:

Financial Title Company

81 Blue Ravine Rd. # 220

Folsom, CA 95630
Phone No.: (916) 351-2910
Fax No.: (916) 353-5070

Escrow No:
Escrow Officer:
Date:

42613725-823-MFP

Fatima Pacheco

May 28, 2008

Financial Title Conlpany conducts escrow business under License to act as an underwritten title company issued by 'the State
of CaUfornia Department of Insurance.
I1We hand you herewith balance due shown below together with

~ Executed Loan Documents

~ Escrow (Estimated) Settlement Statement

~ Approved Preliminary Report

~ Approved Demand(s) for payoff of existing mortgage

~
QuitClaim Deed

iii
Ii1 All documents necessary to close Escrow
which you are authorized to deliver and/or record when you have received for my account:
Loan proceeds, per estitnated statement and when you can issue a policy of title insurance in the amount of $132,000.00, in
compliance with Lender's instructions, on the property described in Preliminary report issued by Mercury Transaction Services ,
Report No. 42613725, dated April 16, 2008, showing title vested in Penelope M. Gillespie and Neil J. Gillespie and Mark
Gillespie, as Co-Trustees of the Gillespie FaJuily Living Trust Agreement dated February 10, 1997, describing the property
known as: 8092 SW 115Th 1..400p, Ocala, FL 34481. At close of this escrow, the policy of Title Insurance will contain only the
following "subject to" items, PLUS those items that will reflect the documents being recorded through escrow.

SUBJECT TO:
1. Printed exceptions and conditions and stipulations in said policy.
2. iii All 0 2nd Half 0 Paid; General and Special taxes for fiscal year 2008
3. Assessments and/or bonds not delinquent
4. Exceptions numbered SchB-I 2-3PIE 40UT, SchB-II 1-13 as shown in the Preliminary report referenced above, and:
5. New First Deed of Trust in favor of Liberty Reverse MO.4tgage, Inc. to record in the amount of $198,000.00
6. New Second Deed of Trust in favor of Deparhnent of Iiousing and Urban Development to record in the amount of
$198,000.00

The undersigned borrower(s) hereby acknowledges that he/she has received and read a copy of the Preliminary report referred to
above, describing the property which is the subject of this escrow.

Borrower's Disclosure
The undersigned Borrower(s) hereby certify(ies) that all liens, judgments, deeds of trust, taxes, and other obligations have been
disclosed to Financial Title Company, and that NO other liens, judgments, deeds of trust, taxes, or other obligations exist against
me/us.
The undersigned hereby certifies that NO construction, alteration, addition to, or repair of a building or structure is in process or has
recently been completed.
Therefore, the undersigned agrees to hold harmless and indenmify Financial Title COlnpany and its underwriter against all loss,
damage, attorney's fees and other costs and charges which Financial Title Company or it's underwriter may sustain in consequences of
having issued such policy or policies of Title Insurance, and not having taken exception to an item which should have been disclosed
but for whatever reason, was not.
Upon consummation of this escrow you are authorized to disburse in accordance with the attached Estimated Closing Statement.

Supplemental Instructions
The fire insurance premium sbown on the settlement statement is an estimate only. Borrower(s) will provide evidence of fire
insurance coverage in an amount and type acceptable to the lender prior to the close of escrow. Escrow holder is authorized
and instructed to pay any premium due, per Lender's requirement, from funds deposited by Borrower(s) at the close of
escrow, unless a paid receipt is deposited into escrow.
The escrow holder is hereby instructed to obtaiu the evidence of hazard insurance from tbe following Insurance
Coulpany/Agent:
We have this information
, whose phone number is:
_
I:AY CREDIT CAn.DS OI{ OTHER BILLS THI{OUGH ESCJlO\V: Escrow Holder is authorized to charge to the account of the
Borrower, as per the attached "Estimated Closing Statement", to pay Credit Cards and/or miscellaneous accounts as required and
instructed by new Lender. Borrower agrees to deposit into escrow, prior to the close of escrow, current billing statements for each of
the aforementioned accounts providing Escrow Holder with current addresses and account numbers for payment on said accounts.
Initials

Initials

Initials

Initials
Escinsnn (2/14/06)

Borrower and new Lender are hereby notified that escrow cannot close until such time all complete address and account

information' has been provided to Escrow Holder. Escrow Holder does not warrant that payment of the given amounts will pay

said accounts in full, as additional charges may have accrued, or that said accounts will be closed. Any unpaid balances owing, not

paid by Escrow Holder, shall remain the responsibility of the Borrower. Checks for payment of all accounts will be mailed directly to

the creditor at the address provided by the Borrower. Any discrepancy in the final payoff figures shall be handled by the undersigned

outside of escrow.

l>El\lANJ) '1'0 F:SCRO\V:Borrower(s) hands you herewith read and approved copy(s) of demand(s) and hereby instructs you to

amend said disbursement(s) per any updated denland(s) you may receive prior to close of escrow, without further instructions.

The undersigned has requested a signing appointment outside of the escrow office handling this escrow. Should undersigned

cancel this transaction, or if for some reason this escrow does not close, undersigned hereby agrees to pay any billing presented

by Outside Signing Service for services rendered.

ACKNOWLEDGEMENT OF SIGNING SERVICE FEES: The undersigned has requested a signing appointment outside of

the escrow office handling this escrow. Should undersigned cancel this transaction, or if for some reason this escrow does not

close, undersigned hereby agrees to pay tbe fee listed below to the outside signing service directly for services rendered OR

upon close of escrow Financial Title Conlpany is authorized and instructed to charge the undersigned for services as noted

herewith:

Nanle of Notary:

Signing Service Name and Address: Richard Kwiatkowski ill the amount of 175.00 and Notary Central in the amount of

150.00
Upon consummation of this escrow you are authorized to disburse proceeds as follows:

Disbursement of Funds to Borrower(s):

The undersigned hereby instructs Financial Title Cotnpany to disburse their proceeds as follows:

o Authorize check to be picked up by: Name:

o CalI when check is ready for pickup, phone #
o Mail check to:

_
, contact

Name:
Address:

_
_

o Overnight check to address:

Please make one option:

o Signature Required for delivery

DSignature not required-okay to leave at front door

o Wired funds -PLEASE AITACH VOIDED CHECK FOR THIS OPTION.

o Other:

The proceeds will be disbursed in the form of one check payable to the order of ALL Borrower(s) unless
Escrow Holder is provided with written instructions from all Borrower(s) to do otherwise. Such checks
require the personal endorsement of all payees to be negotiable. Unless otherwise directed in these

instructions, Escrow Holder is authorized to mail any proceeds/refund check(s) to the Borrower(s) at the
address provided Escrow holder herein.

Initials

Initials

Initials

Initials

---- .........

_-_._-~-_._._

....

Requelted by and returned to:

Liberty Reverie Mortpge. Inc.
10951 White Rock Road, Suite 200
Rancho Cordova, CA 9S670
Prepared by:

FHA Ca,e Number; 091-4405741195z..255

39100

State or Florida

ADJUSTABLE RATE

HOME BQUITY CONVERSION MORTGAGE

nus MORTGAGE ("Security lDstrumcnt") is atven on JUQe OS, 1008. The IIlOJ'tpgor is Peoclope M. GUIe.pIe, NeJl J.
Gillespie and Mark Gillespie, as Co-Tn,tea 01 The GUJaple FamJI)' Uvlnl Trust Ap-eemeat dated February 10, 1997,
whose addres3 is 8092 SW 115th Loop, Ocala, FL 34481 ("Borrower"). nu, Security ID8trumool is liven to Libert)' Revene
MorlPIe. Inc., which is organized and existing under the laws oltho state of C.urorall, and whose address ill09S1 White
Rotk Road, Suite 200, Randao Cordova, CA 95670 r'Lendet'). Bonower baa agreed to ~y to Lender amowUs wbich
Lender is obligated to advaoce, including future advances, under tho tmIII or a Homo Bquity CODvmion Loan Agreement dated
the same dato as this Security Instrument ("Loan Ag=ment"). The agreement to repay it evidenced by Bonower'8 Note dated
the sarno dato .. this Se<:urity lnscnune:ot ("Note"). This Socurit)' Instrumeot secures to Lender: (8) .bo repayman of the debt
evidenced by the Note, with interest at a rate subject to acijustmenit and all renewals, ateosioDl and modifications or Iho Note,
up to a maximum principal amount One HUAdred NlDety-Elebt nou.aad aad OO/JOO DoUan ($198,000.00); (b) tho payment
of all other swns, with interest, advanced. under Pamgnph 5 to protect tho security of this Security InItrwneI1t or otherwise due
under the lenns of this Security lnatrument; and (c) tho performanco of Borrowots covenants aDd asfeements under thi, Security
Instrument and the Note. The full debt, including aU amounts described in (a), (b), and (c) above, ffnot paid earlier, is due and
payable on October 29, 2080. Por this pwpose, Bonower does hereby mortgage, grant and convey to Lender, the foUowing
described property located in MarioD County, Florida:
The real property located at the address 8091 SW 11Sth Loop, Ocala, FL 34481, in tho County of Marlon, stale of FL,
described morc fully on Exhibit A attached to this Mortgage.
TOGETHER WITH all the improvements now or hereafter erected OD tho property, and all easements, rights, appwtcnances, and
fixtures now or hereafter a part of the property. All replacements and additions shall al.o bo covered by thil S~ty Instrument.
All oltho fo~going is rofemd to in this Security Instrument u the ''Property.''
BORROWER COVENANTS that BOlTower islawfuJly soil~d oftho estate hereby cODveyed Uld hu the right to mortgage, grant
and convey the Property and that the Property is unencumbered. Borrower warranll and will defend generally the titlo to the
Property against all claims and de~ds. subject to any encumbrances ofrecord.

THIS SECURl1Y INSTRUMENT combines Wlifonn covenants for national use BDd oon-uoifonn oovenantl with limited
variations by jurisdiction to constituto a uniform .ecurity instrument covering real proporty.
UNIFORM COVENANTS. Borrower and Lendor covonant and agreo as follows;
FL f'MoIfPI'

Pi!?r;, jI

1tfr

---------- .

1. Payment or Prlndpad and InceraL BolTOwer .ball pay when due tho priocipal
the Note.

0'

aod interest on, the debt evidenced by

2. Payment of Property Cbal1u. Borrower shall pay all property <;harges consisting at taxes, ground rents, flood and hazard
insuranco premiuma, and special usewnentl in a timely manner, and sball provide evidente ofpayment to Lender,
unless Lender pays property charges by withboldil1l funds from monthly payments due to the Borrower or t?Y charging such
payments to a line of credit as provided for in the Loan AgroemalL
J. Fire, Flood and Other Hazard InJUI1lDce. Borrower shall insure aU improvements on tho Property, wbether now in
existence or subsequently erected, against 8.Oy hazards, cuualties, and contingencies, iDc;ludhJg firo. This insurance shall be
maintained in the amounts, to tho extent and for the periodl required by Leader or tho Semtary of Housing and Urban
Development ("Secretary"). Borrower shaD also insure aU improvements on the Property, whether POW in erxistmco or
subsequently creceed, against loss by floods to the extent requiRd by tho Seeretary. All inluranoo shall be canicd with
companies approved by Lender. Tho insuranco policies end any renewals sball be ~ld by Lender and shall include 101. payablo
clauses in favor of, and in a fonn acceptable to, Lender.
(n thc event of loss, Borrower shaD givo Leader iounediatCl nocico by mail. Lender may make proof of Joss if not made promptly
by Borrower. Eacb insurance company concerned is hereby authorized and directed to make payment for such loss to Lender t
instead ofto Borrower and Lender jointly. Inauran~ proceods shall be applied to reatoration or repair oftbe damaged Property,
if tbe restoration or repair is economically feasible and Londa's secwity is Dot lessened. If the restoration or R'pair is not
oconomically feasible or Lender's seeurity would be leascned, tho insurance proceeda shall be applied fUll to.tho reduotion of any
indebtedness under a Second Note and Second Security InItrwnent held by tho Seerctar)' on lb' Property and then to tho
reduction of the indobtedness under tho Note and dlis Security 1DItrumeDt. Any excess insurance proceeds over an amount
required to pay all outstanding indebtedness under the Noto aod thil Securit)' Instrument shaD be paid to the eotity legally
entitled thereto.
In thc event of fOtCclosW'C of this Sccwity Iutrument or athOl' tl'InIter of title to the Property that oxtiDSUilhes the indebtedness,
aU right. title and interest ofBorrower in and to insurance polici. in forco shall pus to the purohl8er.
4. Oc:tUpaney, PrescnatJon, Maintenance aad Protecdon of the Property; Borrower', Loan AppBcadollj Leasehold
Borrower $hall occupy, ostablilh, and \lie tho Property u Borrower. principal residenco after the execution of this Security
tnstnament Ind Bonowcr (or at Jeast one BOlTOwer, ifiDitiaJly more than one porion are BOn'OWtrI) and shaU continuo to OCC\lpy
the Property as Borrower. principal residence for tho tenn of tho Security Instrument. "Principal residence" shaJl have the same
meaning as in the Loan Agreement
Borrower shall not commit waste or d~troy, danJa&c or substantially change tho Property or allow cbe Property to doteriorato,
reasonable wear and tear execpted. BOlTOwer shall also be in default it Borrower, dwiDJ the loan application prooess, gavc
materially false or inaccurate infonnation or statemcnts to Lender (or failed 10 provido Lender with auy material infonnation) in
connection with the Loan evidenced by the No~ Including, but not limited to. representation. concoming Bonower', occupancy
of the Property as 8 principal residence. If this S"urity Instrument is on a leaaebold, Borrower shall eomply with the provisions
of the lease. IfBonower atquirca
title to the Property, the leasehold aod reo tide aballnot bo merged unless Lender agrees to
merger in writing.
S. Cbarze5 to Borrower and Protection of Lender', RJahtJ In the Properly. Borrower shall pay al1lovemmental or
municipal charges, finCl and impOlitions that In not included in Pallgraph 2. BonoWCl' shall pay these obligations on time
directly 10 the entity which is owed the paymcpt. If failure to pay would advcncly affect Lender's interest in the Property, upon
Lender's ~quC$t Bonower shall promptly fumish 10 Lender receipts evidcociDg thele payments. Borrower shall promptly
diJcharge any lien which has priority over this Security Instrument in the manaCl' provided in Parasra,ph 12(c).

fee

If Borrower fails to make these payments or tho property chlU80S required by Paraaraph 2, or faUa to perfonn any other
covenants and agreemeaf$ contained in thiI Security Instnmlont. or there is legal procoediol chat may significantly affect
Lendcn rightl in the Property (lUch as a proceediOS in bankruptcy, for condemaation or to enforce law. or regulations), then
Ltndcr may do and pay whacever is neccssBIY to pro*t the value of the Property and Lender's rights in the Property. including
payment of taxes, hazard insuran~ and other iteml mentioned in Paragrapb 2.
FL ,. MQrtgllp

'ase2/)
J-f

II;

~p.

)I

To protect Lender's secwity in the Property, Lender shaD advanco and c;hargc to Borrower all amounts due to tho SeeRtar)' for
the Mortgage Insurance Premium ("MIP") as defined in the Loan Agreemcm 18 woll 81 all IWDI due to tho loan servicer for
servicing 8ctividCl ("Servicing Pcclt) u dofined in tho Loan Asrcemoot. Any amounll dJsburaed by Lender under thiJ Paragraph
are obligatory aDd shall become 811 additional debt of BOJrOwer 88 provided for In tho Loan Agreement and shall be secured by
this Security Instrument.
6. IDlpedfon. Lender or its agent may enter on, inspect or make appraisals of the Property io a s:euonable manner and at
reasonable times provided that Lender &ball give the Bonower notice prior to my inlpcctiOD or appraisallpeCifying a purp08C
for thc inspection or appraisal which must bo related to Lender's iaterest in tho Property. Iftho Property is vacant or abandoned
or the loan is in default, Leader may cake reasonable action to protect and preservo such vacant or abandoaed Property without
notice to the Borrower.
7. Coademoation. The proceeds of any award or claim for damaaes. diRct or ~DSequential, in connection with any
condemnation. or other taking of any part of tho Property, or Cor CODveyan~ in place oC condemnation shall be paid to Lender.
The plWceds shall bo applied tint to the reduction of any indebtedness UDder I Second Note and Sea>nd Security Instrument
beld by the Secretary on the Proporty, and then to the roduction of the indobtodDcu under tho Note and this Security Instrument.
Any excess proceeds over an amount required to pay aU outstanding indebtedne8S undor the Note mid this Security Instrument
shan be paid to the entity logally entitled thereto.
8. Fees. Lender may collect fees and charges authorized by thc Secmary.
9. Ground. for Acceleration of Debt.
(a) Due and Payable. Lender may require immediato paymeat in full of alllUtnI 8ocu~d by this Seourity Instrument if:

(i)

A Borrower diea and tho Property is not the principal residence of at least one surviving Borrower; or

(ii)

Allot a Borrower's title in the Property (or his or her beacficiaJ Jntercat in a trust owning aU or part of the
Property) is sold or otherwiao transferred ID no other Borrower retains (a) title to the Property in fee simple, (b) a
leasehold UDder a lease for not less than 99 years wbich is renewable or a lease havioS a remaining period of DOl
less than SO years beyond the date of the IOOth birthday of the youngest Borrower, or (0) a life e&talO in the
Property (or a beneficial interest in a tru8t with 8uch an interest in tho Property).

(b) Due and PRyab wltb Secretary Approval. Louder may require immediate paymcut in full of alilums secured by this
S~curity Instrument, upon approval by an authorizod ropmeutativo of tho Secrotary, if:
(i) The Property ceases to be the principaJ resideoce of ~ Borrower for reasons other than death and the Property i'
Dot the principal residence ofat leat one other Borrower; or
(ii) For a period of longer than twelve (12) consecutive month a BoJ1'OWCf fails to physically occupy tho Property
because of pbyaical or mental HineR and the Property iJ not tho principal reaideuce ofat least ono other BOlTower;

or
(iii) An obligation of tho BOlTOwer Wider thia Security 1nstnJmeDt iI not pcrfonncd.

(c) Notice to Lender. Borrower shall notify Lender whenever any of tho evenll tilted in IUbpaiagraphs <8> and (b) of this
Paragraph 9(aXii) or (b) oCOW'.
(d) Notice to Secretary aad Borrower. Lender shall notify the Secretary and Borrower whenever the loan becomes due
and payable under this Paragraph 9(aXii) and (b). Lender &ball not have the right to commence forcclOlUle until Borrower
has had thirty (30) days after Dotice to either:
(i) Correct the matter which resulted in tho Security Instnuncut coming due and payabJe; or
(ii)

Pay t~e balance in full; or

(iii) SeU the Property for the lesser oCtho balance or 95% of tho appraised value and apply tho net proceeds ofthe sale
FL /- MUrfpl'
Pile)

p,P} .1/,

toward the balance; or

(iv) Provide the Lender with a deed in lieu of foreclosure.
(e) Trusts. CODVoyanCO of.~. facaat in the Property to a trult which mcct8 tbe requirements ofthc Secretary, or
conveyance or a uuar, iotGJ'C$CI in the Property to a Borrower. 8ha11 not be CODSiden:d a CODW)'UlCC for pwposes of thia
Paragraph. A trust $ball not be ~osideml aD oocupant orbo cODlidered u havina a principal.l'elidence for pwposa of this
Parappb9.
(I) Mortg8&e Not IDsured. Boaower agreol that should this Security lnstrumeut and the Note not be eligible for insuranco
under the National Housiog Act within oiabt (8) months fiom the date bereof. Lender may. at its option, require immediate
payment in fUll of alllWn8 secured by thiI Security InItrumeDL A written statement of aoy authorized qent ofthe Secretary
dated subsequent to eight (8) months from the date boreot; declining CO inJure this Security instillment and the Note, shall be
deemed conclusive proof of such ineligibility. Notwithstanding tho foregoing. this option may nol be exercised by Lender
when tho unavaUability of ina\uaoco is solely due to Lender'. failure to romit mortpp iDiurance premium to tho Secretary.

10. No DeJ1deney Judpneuts. Borrower ,ball havo DO penonal1iability for payment or the debt amucd by this Security
Instrument. Lend may enforce tho debt only through sale of the Property. Lender 'ball not be permitted to obtain a doficiency
judgment agaiclt Borrower ifthe Security lastrumeDt is foreclosed. Iftbia Security IDltrUmeDt is Uliped to the Secretary upon
demand by tho Secretary, Borrowershall not be liable for any difference betwecD the mortaaso insurance beaofita paid to Lender
and the outstandina indcbtedoe5S, including accrued iDter. . owed by Borrower at the time or tho sJpmonL
11. Reinstatement. Borrower has a right to be reinstated if Lcuder bas required immediate payment in full. 1biI right applies
even after foreclosure proceedings are instituted. To rcinrtate this Scwrity Instrwnent, Borrower shall comet the condition
which 1'C$ul1cd in the requirement for immediate payment in full ForeclOlUR eoats and reasonablo and customary attorneys' fees
and expenses properly associated with a foreclosun: proceeding shall be addod to the principal balance. Upon reinstatement by
Borrower, this security Instrument and the obligations that it RCWW shall remain in effect u if Lender bad not required
inunediate payment in full. However, Lender is not required to permit rcil1llatcment if:(i) Lcmd~ has accepted reinstatement
after the commencement or foreclosure proceedings within two (2) yean immediately pRCCdiDg the comm~meDt ofa cumnt
foreclosure proceeding. (ij) I'Crillltatement will JmcJudc foreclosure OD different grounds in tho fbtUre. or (iii) reinstatoment will
advcrs~ly affect the priority ofthe S~urity Instrument.
11. Flnt Lien Statu.
(8) ModlOaltlon. Borrower agrees Co oxtaJd this SCCW'ity Inslnmlont in acconlance with this Paragraph 12(1). If Lender
determines that the oriainaI lien ,latus of the Security lnaCnunent is jeopardized UDder stato law (including but not limited to

situations where tho amount secured by the Security Instrument equals or exceeds the maximum principal amount stated or
the maximum period under which loan advances relaiD the sarno lien priority initially granted to loan advances hu expired)
and state law permits the original lien status to be maintained for future loan advlIDCCI through the execution and ~rdation
of one or more docwnents, then Lender shall obtain title evidence a1 Borrowen ~se. If the tillo evidence indicates that
the Property is not encumbered by any liens' (except this Security Instrument, tho Second Sccwity Instnunent described in
Paragraph 13(1) and any subordinate liens that the Lender detennines will 1180 be .ubordinate to IDY tUtuR loan advances),
Lender shall request the Bonower to execute IUcb documonta. If slate law doca not pormit the orfsioallien statu. to be
extended to fUture loan advances, Borrower will be deemed to haw failed to have performed an obligation under this
Security Instrument
(b) Tax Deferral Programs. Borrower shall Dot participate in a real estate tax deferral proaram,

irany liens created by the tax

defeml are not subordinate to this Security IDatlUmenl

(e) Prfor Liens. Borrower shall promptly discharge any lien which bas priority over this Security Instrument unless BOlTOWer:
(a) agrees in writing to tho payment of the obligation secured by the lico in a manner acceptable to Lender; ('0) conteits in
good faith tho lien by, or defends against enfoJWIDent of the lien in, legal proceeding. which in the LeJ1der's opinion operate
to prevent the eoforcement of the lien or forfeiture of aDy part of tho Pnlperty; or (c) secura from tho holder of the lien an
agreement satisfactory to Lender subordinating tho lien to all amounts secuMd by thi8 Secwity Insb'UmenI. If Lender
FL t'Mo"pp

Pf!7JJ. )j.

~~

NONUNIFORM COVENANTS. Borrower and Lender tbrthor covenant aDd agree as follows:
19. Asslanment of Rents. Borrower unconditionally assigDs and 1ransfer8 to Loader all the rontland revenues of the Property.
Borrower authorizes Lender or Lender's agents to collect the rents and revalues and bereby diroctI oacb teoant of the Property to
pay the renla to Lender or Lender's aieDrs. However, prior to LeDder'S Notice to Bonower ofBozrower'. breach of any covenant
or a~ment in the Se<:urity IDsb'umeat, Borrower shall collect and receive all reotl and revenues of the Property as trultce for
the benefit oC Lender aad Borrower. This assignment of rents coastitutes 111 absoluta BAignment and not an assignment for
additionalsccurity only.
If Lender gives notice of breach to Borrower: (a) all renII received by Bonower sball be held by Bonower 81 trustee fur benefit
of Lender only, to be applied to the sums scoured by this Security Instrument; (b) Lender Ihall be entitled to collect and receive
all ofthe rents of the Property; and (c) each Conant of the Property sbaU pay all renCi due and unpai'd to Lender or Lendets agent
on Lender's writton demand to the tenanL

BOlTOWcr bas not executed any prior assignment ofthe reots and has not and will not perfoml any act that would prevent Lender
from exercising its rights under this Paragraph 19.

Lender shall not be m)Uired to enter upon, take control of or maintain the Property bcforo or after giving notice of breach to
Borrower. However, Londer or a judicially appointed l't'Ceivor may do so at any time thvo i.a bfeach. Any application of rents
shall not cure or waive any default or invalidate any other right or remedy of Lender. This assiplment of rents of tho Property
shall ccnninale when tho debt ~d by tbis Secwity Iusttument is paid in full.
20. Foreclosure Procedure. If Leader reqUire. bDmedlate payment tu fuB Wider Paragraph 9, Leader may foredo.e this
Security Instrument by Judldal proceedlDI. Lender .ball be eaUded to eolled aU lSpeRIOl IDcurred In punwq the
remedies provided In this Paraarapla 20, Indudlnl, but not limited to. nason.ble attorney.' rea aad coItI or title
ev!deoce.
21. Lien Priority. The full amount secured by this Security Iostrumcot sball have th' same priority over any other liens on the
Property as if tho full amount had been dbbwsed on the date the initial disbuncment was made, reprdlos. of the actual date ot'
lOy disbursement The amount secured by this Security lustrumel1t she1J include aU direct paymenta by Lender to Borrower and
all other loan advances ponnittcd by this Security Instrument for any PUIpOIO. Tbia lien priority shall apply notwithstanding any
State constitution, law or regulation. except that this lien priority shall not affect the priority orany liens (or unpaid State or local
governmental unit special mossmcots or taxca.
22. AdJUltable Rate Feature. Under the Noto, tho inilialltated interest rate of Three and 661100 percent (3.660%) which
accrues on tho unpaid principal balance ("Initial Interest Rate") is subje;ct Co cbange, as described below. When the interest rate
changes, tho new adjusted interest rate wiD be applied to the total outstanding principal balaace. Each adjustment to the interest
rale will be based upon the weekly average yield OD United States Treasury Securities adjusted to a constant maturity of ODO year
(''lndex't)plus a margin. The Index fa published in tho Federal Rosorve Bulletin and made available by the UDited States Treasury
Deparcment in Statistical Release H.lS(SJ9). If the Index is DO longct available, Lender will be mpUred to use any index
prescribed by the Department of Housing and Urban Development. Tho new index will have a historical movement
sUb$tantially similar to the original ind~ and the Q~ index and margin will renlt in an annual percentage rate that is
su~tantiany similar to the rate in effect at rho time tho original indu becomCillDlvaiJablc.

Lender will perfonn the calculations described below to detennine the now adjusted interest rato. The interest me may change
on Seprember 1, 1008. and on the tlnt day of _ and on that day of each succeectiDg year, or --X... the fmt day of each
succeeding month (Chaoge Date) until tho loan is repaid in fUD.
.'
The value of the Index will bo detcnnined. using the most recent Index figure available thirty (30) days before the Change Date
("Current Index"). Before each Chango Date, the now ioterest rate will be calculated by addiDg a margin to the Current Indox.
The sum of the mlrgin plus the CwTent Index will bo called the "Calculated Intcrat Rate" for each Change Date. The
Calculated Interest Rate will bo compared to the intmst rate in effect immediately prior to tho cwrent Clange Date (the

..' :.I'~: .,l r

~.

'

. '

"

....'.

'."

~': .
...
'.:.' ".~~
.~

determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender
may give Borrower a notice identifYing tho lien. BolTOWCt sball satisfY tho lien or tako one or more of tho actions set forth
above within ten (10) days of tho giving of nolico.
13. ReJatlooahlp to Setond SecurJty lastrumeut.
(a) Second Security IastrumenL In order to secure paymentl which the Secretary may make to or on behalf of BOlTOwer
pursuant to Section 25S(i)(1 XA) of the National Housing Act and the LoaD Agreement, unless otherwise provided by the
Secretary, the ~tary hu reqwed Borrower to e~ecuto a Second Note and Second Security Instrument on the Property.
(b) Rdationshlp or F1nt and Second Security In.tnunentl. Payments made by the Secretary shaD not be included in the
debt UDder the Note unltas:
(i) Thil Security Instrument is assigned to tho Secretary; or

The Secretary accepts Rimburscmenl by tho Lender for aU paymcntl made by tho Secretary.

(ii)

If the circumstances described in (i) or (ii) occur, then aU paymcnll by the Secrotary, including interest on the payments but
oxcluding lato charges paid by the Secretary, shall be included in the dobt under the Note.
(e) Effect on Borrower. Where there is no assignment or rcimbW'semont as described in (bXi) or (ii) and tho Socretary makea
payments to Borrower, then BOlTower shall not:
(i)

Bo required to pay amounts owed under the Note, or pay my rents and revenues of IDo Property undO!' Paragraph
19 to Lender or a receiver of the Property. until the SecrctaJy has required paymeot in fUll of all outstanding
principal and aeemed interest UDder tho Second Note; or

(ii)

Be obligated to pay interest or 8harcd appreciation under the Noto at any time, whether accrued before or after the
payments by the SecretaJy. and whether or Dot accrued interat bas been included in the principal balance under
tho Nole.

(d) No Duty of rhe Secretary, The Secretary h81 no duty to LaJder to euforco covcnantJ oCtile Second Security InsC1Umcnt or
CO take actions to preserve the value of the Property, evoo dlougb Lender may be unable to collect amountl owed under the
Note because of restriction' in this Paragraph 13.

14. Forbearance by LeDder Not. Waiver. Any forbearance by Lender in oxClCisins any right 01' remedy shall Dot be a waiver
of or pre<:lude the exercise of any right or remedy.
15. Succ:esson and Asslen, Bound; Joint and Several LlabWty. The covenants and agreements of this Security Instrument
shall bind and benefit tho successoq and assigns of Lender. Borrowa' may not usian any. rights or obligationa under this
Security rnstrumcot or under the Note, except to a tnIst that meets the requiRmeuts oCtilo Secretary. Borrower's covenants and
agreements shall be Joint and several.
16. Notices. Any notice to Borrower provided for in this Security InsbUment shall bo giVeD by deliverlna it or by mailing it by
first class mail unless applicable law requim use of another method. Tho notico shall be ~d to tho Property Addreu or any
other address all Borrowers jointly designate. Any notice to Lender shall be givCll by first class mail to Lendets address stated
herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be
deemed to have been Biven to Borrower or Lender when given 81 provided la this Paragraph 16.
17. GovernlnK La,,; Severability. This Security Instnunent shall be govemed by Fcdcrallaw and tho law of tho jurisdiction in
which the Property is Jocated. In tho event that any provision or clauao of this Security Instrument or tho Noto conflicts with
applicable law, such conflict shall not affect other proviaioDl of this Seauity IDstrwnent or the Note:~hich Cia be given effect
without the conflicting provision. To tbis end the proviaioDl of this Security Instrument and the Note are declared to be
severabJe.

18. Borrower'. Copy. Borrower shall be given ono c:onfonncd copy of the Note aDd this Sec:wity Instrument.
FL /"

/tio""""

Pap'

II

p7IJ./v ,

1~

..

::

::ik .

.i

.I~:

"

1';

I'

~ i

~ap.!t

t~!

! .

: t

,I

"Existing loterest Rite).

AnnuaU)' AdJusting Variable Rate Fea~n The interest rate will na'lCt increuc or d=eue by mOte
man two percentile potntl (2.0") on any .inale Change Dato.. The Interest rite will never be more than
five percenrage poines (S.O,,) bieher or lower Chanthe initial lmerest rare Slated in Pararaph 2 of thil
Note.

.....x.

MOAthIy

13.660

AdJustinc Vartibla .~ FeatQn The

CalcuJared Inretat Rate

wm never

iDaease above

The Cakulated ~ Rate will bo adJ~ it nec:esaIIY to comply with the nce limibttloaC') dcIcribcd above and will be in
effect untiJ the next 0JaDp Dice. At any dIaDIC dat2. it che CaJQllated InteJat Rate equals the Exisdnl;lmeresa ~ rhe
intetast rate will not chanp.
n Release.. 'Upon paymenc ot all soms secured by this Security lnsIrumen&. lAnder shaD release this Security Instrument
without tharp (0 Borrower. Borrower ,ball pay any reconIat!an COIQ..
;
24. Mome1" 1!ees. As uaed in this Security IMn1ment and the Note. -attorneys' fees" shall Include any aaomcsy&' fees
awanSed by 11\ IppeJlate court.
\
15.. Riders to this Security InstrumenL U one or more riders are executed by Borrower and r'ccorded together with chil
Security InstrUment, rhc covenants Ind .~ of each 'uch rider shaJl be inc:orporaced inro and shall amend and 5UPPJement
the covenants and agreements of tbis Security InstrUment as If the rider($) were a pert or this Security InswmenL (Cbeck In
riders thai are applicable].
.

I"
conrained.ln chit Security lnscrument and in

~~~~~~~~~'~'W~ 7:;(;;#/~~'
~1I17(::;

Signature:

.'

/?41.~~ ?IJIIJ'~

PBNELOnt4:G~~

.~,
..

,A

.&...<=~

~~ie,

Trustee

p~:Jjft.tG~~~-MARK--G-IL-LBS-p-IE,-m-usr-E-E----

--------......-----. ...

f.

i
!

I
"Bxbt1aa 1AImetRete).
AnuuaIb' AcVasdq VadabJe Rate I'Iatan Tho bcral . . wiq DOVer JncRao or decaue by IIlOre
CIWl twO J*OC'*J6 poIDts t2JH') CD . . , . . . .
DIte. 1bo hPeaa& nIO wiU __ k..- thaD
ftYO ~ pofDa C't0ti) hiP=t oa: JowIr chin cbo iUdaJ iIIIcRst,. .... tis PaIqrtph 2 this

a..

NotA

--X..

or

MoDtIIl1 AOdDI V_bit

Mail

rtlltan ". C&JcWatecI1JII8I'ISt Race wiD

~.

IIeWr

Inacue abIM' '

a.e

Tho ~ 1Dcen:Ic
wID be IdjUICICl if ~ to comply wIdJ cbe r.ICe 1iJnkIdot(I) cIeIcr1bed aIxMs IIJd wID be in
Greet DId the aat QIap Dds. M I1rf . . _ if tbe CJ1cCIIIeI Jncaac Rate equals die &dsda.1DIemt . . . abe
infaat
wmnoc.....
23.
Upaa ~ or IIlIIWI . , . . by rbiI SecurIt1 ~ Lender IhaJJ rdeatc cbJI Slcuric,y InttJumIml
wltbout cbarp to Bomnrr'er, Borrower cbIIJ PlYIJ!)' ncordadoo coB
24 ~..... AI ued In IbiI Stcuricy ~ IDd ... Noll. -auotne)II' lett' alIaIllDclude Ill)' IUDmI)'t' tea
by . . . . . ccrart.
25. RJden to 11dI SCuft11Da1nntAL Sf OlIO or men rtda5 II'C . . . . . . bJ BomJwtt IDd R:COI'CIId toptbar wbb dIiI
Socurily bhumeaI. cbI covtIaIIl1l ad ....... of ads I1IdJ rfder IbID be IDcarporued laID . . abaU IDleQClIDd JUpJ)1etnal
. . ~ . . . . . . of tbfJ Securit)' Jnatnva&a& a if die rida(I) 'tWa part of chit Secudty ~ ta.:lc .0

.....w

rtdera tbIa_~).

BY SlGNINO BELOW. Borrower IClCII* and . . . 10 ..., rtda(a) oucazecl by Bonvwet lad Jr.cotded wi1h It
Witnaeel:

tamI . . CDeaaDII concainCld

ill CbIa Security 1ncaIDa IDd in

.. - -

._---_._-

STATE OF FLORIDA
COUNTY OF

lllllll'/()N

The foregoing instrument was acblowledged before me this _.tr_~_~

__ day of

UtJ! ~Pe' i'

. by PeDeiope M. Gillespie and peuelope M. Gmespte, Trustee. Mark Giliaple,
Trustee, Nell J. Gillespie, Trustee, who is personally known to me; who hal produced

Notary Public

Namc:_---Rl-CH-A-RO-T.-K-W-lA-JK-O-~-K-I---

FL I"MQrtA.
PiP 8

';/

'I

:8" ','
:3(- :.

"Existing Interest Rate).

Annually Adjusting Variable Rate Feature The interest rate will never increase or dccrease by more
than two percentage points (2.0%) on any single Change Date. The interest rate will never be more than
five percentage points (5.0%) higher or lower than the initial interest rate stated in Paragraph 2 of this
Note.
Monthly AdJustlne Variable Rate Feature The Calculated Interest Rate will never increase above
13.590%.

The Calculated Interest Rate will be adjusted if necessary to comply with the rate limitation{s) described above and will be in
effect until the next Change Date. At any change date, if the Calculated Interest Rate equals the Existing Interest Rate. the
interest ratc will not change.
23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument
without charge to Borrower. Borrower shall pay any recordation costs.
24. Attorneys' Fees. As used in this Security Instrument and the Note, "attorneys' fees" shall include any attorneys' fees
awarded by an appellate court.
25. RIders to this Seturlty Instrument. If one or more riders are executed by Borrower and recorded together with this
Security Instrumenlw the covenants and agreements oreach such rider shall be inGOrp0r8tcd into and shan amend and supplement
the covenants and agreements of this Security Instrument as if the rider(s) were a part of this S~urity Instrument. [Check ali
riders that are applicable).
PUD Rider
Other

BY SIGNING BELOW. Borrower accepts and agrees to the tenns and covenants contained in this Security Instrument and in

any rider(s) c'tecutcd by mower and recorded with it.

Witnesses:

Signature:

PENELOPE M. GILLESPIE (Borrower)

PENELOPE M. GILLESPIE, TRUSTEE

NEIL J. GILLESPIE, TRUSTEE

~
~) ~
MAGILLdPi~TRUSEE

FL /- Mortgage
Pale 7

--_._--------- ------------

~f4(5 ~cn/7Ll
;I

STATEOF~

COUNTYO~rrad-'

The foregoing instrument was acknowledged before me this

t2 OQ.t.

S-

day

Of~Il ~

by Penelope M. GUlesple and Penelope M. GlUesple,

Trustee, Nell J. Gillespie, Trustee, who is personal1y known to me; who has produced

g}u'v.er /s [['om 5

HELEN LOUISE MILLER

FL I" Mortgage
ragc 8

-.="'.
,.1DAI
co..,o.u
~.:

oe;.:aO-20 11

Tru5tee,~

EXHIBIT A
elo M. Gillespie, Nell J. G1Uespie and Mark Gillespie, II Co
Exhibit A to the Mortgage mado on May 29. ZO08.~~e;.r:.tcd February 10, 1997 ("Bonower") to Libert)' Revene

Trustees of The Gillespie FamUProp"lUvl~ll~ltd in the county of Marlon, .tate ofFL. descn'bed u COUOWI:

Motte-Ie.. Int. ("Lender"). Tho

crt)' 18 oca e
.

Description of Property

'L... ..I h
to 8$ 'Exhibit AI and by this meren~ made a pan hereof.
Legal Dcscnptton attaen~ ero

LOT(S) 1, BLOCK G, OAK RUN WOODSIDE TRACI', ACCORDING TO THE PLAT.

THEREOF AS RECORDED IN PLAT BOOK 2 AT PAGE(S) 106 THROUGH 112,
INCLUSIVE, OF THE PUBLIC RECORDS OF MARION COUNTY, FLORIDA.
"A

_ _ ,-

.,.-

PLANNED UNIT DEVELOPMENT RIDER

FHA Cue Nmnber: 091-440574119'1255

Loan Number: 39100

THIS PLANNED UNIT DBVBLOPMENT RIDER. Is made on 1une OS, 2008, and is incorpOJated into and aball be
deemed to amend and supplement the Mortpge. Deed of Trust or Security Deed (tho "Security Instrumont") of the
same dato' given by the underaianed ("Bonowet') to secure Borrower's Note to Liberty Reverse Mortpge. (nc., a
Calltornla Corporation, C'Lcadcr") ot the AmC date aad covering the Property deaoribcd in .the Security Instrument
and located at:

8091 SW 115tb Loop, Ocalat FL 34481

The Property is a part ofa pWmcd unit development (PUD) known as:
OAK RUN

PUD COVENANTS. In addition to thee tClVeuRts and agreements made fa the SecuritJ IMtrument, Borrower
and Lender furtber covenaDt Iud alree as foUow,:
A.
So long u ~ Owners' AuociatioD (or equivalent entity holding titlo to common areas and facilities, act ipS as
trustee for tho homeowners, maintains, with a pnerally accepted insuran~ ~, a Hmuter" or "blanket"
policy insuring the property located in tho PUD, iDcludiDa all improvements DOW cxiatil18 berQftcr erected
00 tho mortgaged premiaes, and such policy ia satilfactOJy to Londcr and proVides 1nwanGO coverap in tho
amounts, for tl1e p,mods, aod against the hazards Lender and tho Secretary require. including ft~ and other
hazards inc1udcd within the term -extended COYeraSe.1I and 1011 by tlood. to Ihc cxtent rcquiml by the
Secrelary, then: (i) Leader waivea the provision in Paragraph 2 ofthia Security IDaCrumont for the payment of
the premium for h828ld iasurancc on the Property, and (ii) Borrower's obligation under Paragraph 3 of this
'Security InstrumeDt to maintain hazard insurance 00 cbo Property Is deemed sadsfted ro the cmtent that the
required coverage is provided by the Owacrs' AIIociatioD policy. Bol1'OWel'shall give Leader prompt notice
of any lapse in rcquirod ba2ard ioauranco covcraae ad of any loa occuninS from a hazard. In tho event of a
distnDution of hazard inJUl"lQCe proceeds in liou or restoratioa or repair following a loss to lhe Property or to
common area aad ticiUdcs of the POO, any procecdl payable to BorroM7 arc beJeby IIliped and shaD be
paid to Lender for application to me SUJJ1I Iccurcd by tbia Security 1nstrument, with any excess paid to tho
entity legally entitled thereto.

B.

Bonowcr promiacs to pay.U dues and aaaessments imposed punuant to tho legal inatrumerrta creating and
governing tho PUD.

c.

If Borrower does not pay PUD duQ and aueamcots when due, then Lender may pay thom. Any amoun~
disbursed by Ib1der under lIda peragraph C shaD become additional debt ofBonower lecurod by tho Security
Instnunear. Unless Borrower and Llder ape to other terms of payment. these amounts ,haU bear interest
trom the date ofdisburaernent at the Note rate and .hall be payable. with interat, upon nodct from Lender to
Borrower roquestinS payment

BY SIGNIf-lO BELOW, Borrowcraccept3 and agrees to the term8 and provisions contaiDed in this PUD Rider.

Mark GWapJe, Trustee

~mf~

J-POD

Pap I ofl

:f ..

. J .'

:';1:'

.0;

i;,

"1::
I
: :'
"1'
J.
p;.' .

r'

PLANNED UNIT DEVELOPMENT RIDER

Loan Number: 39100

FHA Case Number: 091-44057411952155

THIS PLANNED UNIT DEVELOPMENT RIDER is made on June 05, 2008, and is incorporated into and shall be
deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (tho "Security Instrument") of the
same datc' givcn by the undersigned (ltBorrower") to secure Borrower's Note to Liberty Reverse Mortl-ge, Inc., a
California Corporation, ("Lender") of the $8lJ1e date and covering the Property deseribed in the Security Instrument
and located at:
.
8092 SW 11Sth Loop, Ocal~ FL 34481

The Property is a part ora planned unit development (PUD) known as:
OAK RUN
PUD COVENANTS. In addition to tbee coveDanu .ad agreements made In the Security Instrument, Borrower
and Lender lurtber coveDaat aDd a,ree a. followl:
A.
So long as the Owners' Association (or equivalent entity holding title to common area and facilities, acting as
trustee for the homeowners, maintains, with a generally accepted insurance ~anier, a "muter" or "blanket"
policy insuring the property Jocated in the PUD, including all improvementS DOW existing or hereafter erected
on the mortsaged promises. and such policy is satisfactory to Lender and provides insurance coverage in the
amoWlts, for the periods, and asainst the hazards Lender and the Sceretary require, including fire and other
hazards included within the term "extcoded coverage, It and loss by flood, to the extent required by the
Secretary, then: (1) Lender waives the provision in Paragraph 2 of this Security Instrument for the payment of
the premium for hazard insurance on the Property, and (ii) Borrower's obligation under Paragraph 3 of this
'Security Instrument to maintain hazard insurance on the Property ia deemed satisfied to the extent that the
required coverage is provided by the Ownen' Association policy. Borrower shaD live Lender prompt notice
of any lapse in required hazard insurance coverage and of any Joss occurring from a hazard. In the event of a
distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the Property or to
conunon areas and facilities of the POO, any proceeds payable to Bonower are hereby assigned and shall be
paid to Lender for application to the sums secured by this Sccwity Instrument, with any execs. paid to the
entity legally enritled thereto.
B.

Borrower promises to pay all dues and assessments imposcd pursuant to the legal instruments creating and
governing thc PUC.

c.

If Borrower docs nol pay PUD dues and assessments when due, then Lender may pay them. Any amounts
diabursed by Lender under this paragraph C shan become additional debt of Borrowei secured by the Security
Instrument. Unless BOlTOwer and Lender agree to other terms of payment, these amounts shall bear interest
from the date of disburscment at the Note rate and shall be payable, with interest, upon notice from Lender to
Borrower requesting payment.

BY SIG~G BELOW, Borrower accepts and agrees to the tcnns and provisions contained in this PUD Rider.

Penelope M. Gille,pie, Trustee

NEIL J. GILLESPI~ TRUSTEE

Penelope M, Gillespie

Pile I of I

h,

.f}:

\)'1:.
;l ',,'f
.:~~{:.

:.:.; t!:~i
'R~ :;~;
,,:~,
~: .'
J ;; ;: ~~~ ,
"
:):, :;~
'.

I~;~. ~~~.
_....m;~.1!.

: .... :', .. , : .' ',-:Ji:J

, ~ , (:0 <.;:'.ginel.

Requested by and retuned to:

Liberty Reverse Mortpgc) Inc.
J095 I White Rock Road, Suite 200
Rancho Cordova, CA 95670
Prepared by:

FHA Cue Number: 091-44057411951-255

39100

State or F10rlda

ADJUSTABLE RATE

HOME EQUITY CONVERSION SECOND MORTGAGE

THIS MORTGAOE rlSccunty Instrument" or "Second Security Iostrwnent" iI given 00 Juae 05, %008. Tho mortgagor is
Penelope M. Gillaple, Nell J. GIOapie aad Mark GIDaple, .. CO-Trulten or nae GWespie FamUy Uvial Trust
Agreement dated February 10, 1997. whose addreH iJ 8092 SW 115th Loop. Ocala, FL 34481 ("BOlTOWet"). This Security
Instruments siven to tho SecretaIy of Housing and Uroan Development, and whose addrels is 4'1 Seventb Street, S,W.,
Washington. DC 20410 ("Lender") or ("Semtal}'"). Borrower hal agreed to repay to LendOllUDO\lDti whioh Lender is obligated
to advance, including future advances, UDder the terms of a Home Equity Convm'lioD Loan Agreemeot dalCd the same date a
this Secwlty Instrument ("Loan Agreement"). Tho agr=neot to repay is evidenced by Borrower's Note dICed Ihe sarno date as
this Security Instrwneat rSe~ad Noten), This Security Instnmlonl ,e~ 10 Loader; <a> the reptlymmt oftbe debt evidenced
by the Second Note, with interest, at a rate subject to adjuatmeDt, and all renewaJl, extensions and modifications of tbe Noto, up
10 a maximum principal amount oCOne Huudred Nbaetr-BJcht Tho1Uand aDd 001100 DoB8n (SI98,000.00); (b) tho payment
of all other sums, with interest, advanced under Paragraph S to protect tho security of tW. Security Ioscrumont or otherwiso due
under the terms ofthis Security lnslnament; and (c) the pcrfonnance of Borrowet'l coveoan18 and agreementa WIder this Security
Instrument and the Note. The fuU debt, including.1I amounts desmbed in (a), (b), aDd (c) above, if Dot paid earlier, iI due and
payable on O<:tober 29, 2080. 'For this PWPOS8, Borrower does hereby mortpp. p80t and convey to LoAder, the foUowins
described property located in Marlon County, Florida;
The real property located at the address 8091 SW 115Cb Loop, Ocala, FL 3448], ill the County of Marfo~ stile of FL,
described more fully on Exhibit A attached to this Mortpgo.

TOGETHER WITH all the improvements now or hereafter erected on the property, and aU easementa, rights. appurtenances. and
fixtures now or hereafter a part of tho property. AU replacements and additi011l shall also bo covered by this Security Instrument.
All of the foregoing is referred to in this Security InstnmlODt as the "Property.I'
BORROWER. COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and bas the right to grant and
convey (be Property and that the Propcny is only encumbered by 8 YU'St Security Instnament given by Borrower and dated the
same date as this Se~ty Instrument (ltfirst Security Instrument"), Borrower warrants and will defend pneraUy tho tillo to tho
Property against all claims and demands, subject to any eocumbrancea of record.
.

mIS SECURITY INSTRUMENT combines unifonn covenants for national use and ooo-unifonn covenants with Iimjted
variations by jurisdiction to constitute a unifonn security instrument covering real property.

UNIFORM COVENANTS. Borrower and Lender covenant and agree as follow,:

10

1. Payment or PrlndpaJ aDd Interest. Borrower shall pay when due the principal ot and interest on, the debt evid~ by
the Second Note.
2. Payment or Property Challe.. Bonower ibaD pay aU property charges consisting of taxes, ground roots, flood and bawd
insurance premiums, and special usessmeotl in a dmcly manner, aad shall provide evidea~ of payment to Lender. unless
Lender pays property charges by withholding fUnds from monthly paymeuta duo to the Borrower or by ,charging sucb paymCQts
to a line of credit as provided for in the Loan ApeemenL Lender may require Borrower to pay spocificd property charges
directly to the party owed paymont eVeD though Lender pay. other property ohupI u provided in Chit Paragraph.

3. FIre. Flood and Other Hazard IllIurance. Borrower shall insure all JmprovementB on the Property, whether now in
existence or subsequeody erected, against any hazards, casualties, and wntiogencies, including fire. This insurance shall be
maintained in the amounts, to the exlout and for the pmocb required by Lcmder. Borrower shall also.insure all improvementa on
tho Property, whether now in existence or subsequently erected, apinst 1011 by Ooods to the extent requimI by Londer. The
iDSUran~ policies and any renewals shall be held by Lender and aba1I ioclude lOIS payable clauses in favor of; and in a Conn
acceptable to. Lender.

In the event of lOIS, Borrower .hall give Lender immediate notice by mail Lender may mako proof 01"1015 jf not made promptly
by Borrower. Each insuraoc:e company concerned is hereby authorized and direc&ed 10 mako payment for such Joss to Lender.
instead of to Borrower and Leader joindy. Insurance proceccb sba1l be applied to I'OItoradon or repair of the dama8ed Property.
if tho restoratioG or Rpllr iI economicaUy feasible and Lender'. security is not lessened. If the restoration or repair i. not
economically feasible or Lender's security would be lesseaed, tho iuW'ID~o pro~eeds shall be applied fmt to the reduction of any
indebtedness WIder the Second Note and this Secwity Instrument Any exCC81 insurance proceodl over an amount required to
pay all outstanding indebtedness under tho Second Note and this Security Instrument shaD be paid to the entity IcpUy entitled
thereto.
In the event of foreclosure of this Socurity wtnunent or other transfer of titlo to tho Property that extinauiahes the indebtedness,
all right, title and intemt ofBorrower in aDd to insurance poU~iCl in fotoe shan pus to the pW'Chascr.
4. Occupanty, Preservation, Maintenance and ProtecUoD of the Property; Borrower'. Loan AppllcadoD; Leaseholds.
Borrower shall occupy, establish. and use the Property as Borrower's principal residenco after the execution of this Sccwiry
Instrument and Borrower (or at least one Borrower, if initially more thaD one person are Borrowers) aDd shall continue to occupy
the Property as Borrower's principal residence for the tCtm oftho Security Instrument. "Principal midcoco" shall havo the same
meaning as in the Loan AgreemeDt.

waste

Borrower shall not commit

or descroy. damage or subawuiaUy chango the Property or allow the Property to deteriorate,
reasonablo wear and tear excepted Borrower shall also be in default if Bouower, during tho loan application process, gave
materially false or inaccurate information or statements to LencIa' (or failed to provide Lcodcr with my maceria1 iDfonnation) in
connection with tho Loan evidenced by the Note, in~luding, but Dot limited to, repI'CSentations ooncernina BOrrowet8 oc~upancy
of the Property as a principal rwidence. If Ibis Security IosClUmeDt is OD a leasehold, BolTOWor shall comply with dlo provisions
of the lease. If Borrower acquirel fee title to the Property, the leaehold aDd fcc tide .dJaJl not be merpd unleas Lender agrc~ to
merger in writing_
5. Charau Co Borrower ud Protecdon of Lender', RlChtl la the Property. Bonower ,hall pay all govommentaJ or
municipal charges, fine.s and impo,iUooa that arc noC included in Paragraph 2. Bonower Ihall PlY these obligations on timo
directly to the entity which is owed the payment. If r.ihR to pay would adversely affect Lender'$ interest in tho Propcny, upon
Lender's request Borrower shall prompdy fUrnish to Lender rcoeipll mdencina these payments. Bol'l'OWer shall prompdy
discharge any lien which has priority over this Security InItrument in the manner provided in Parapapb l2(e).

If Borrower fails to make thC$C payments or the property charges required by Paragraph 2, or fails to pcrfonn any other
covenants and agreements contained in this Security In&trurneot, or there is a legal proQOCdiog ~ may significantly affect
Lender's rights in tho Property (such as a ~i in bankruptcy, for condemnation or to enforce laws or regulationa). then
Lender may do and pay whatever i' necessary to protect the value ofthe Property and Leader's rights in the Property. including

payment of laXes. hazard insuranco and other itelQl mentioned in Paragraph 2.

To protect Lmdcr's security in tho Property, Lender shall advance and charge to Bouowel' all amounts due to the Secretary for
the Mortgage Insurance Premium ("MIPfI) as defined in the Loao Agreement u well as all 8WDS due to the loan servicer for
servicing activitiO$ C'Servicins Fee") as doflned in the Loan Agreement. Any amounts disbursed by Lender under this Paragraph
are obligatory and shall become an additional debt of Borrower u provided for in the Loan Agreement and shIll be secured by
this Soeurity Insuumenl
:
6. Inspection. Lender or its Agent may enter on, iDspect or make apprailall of the Property in I reasonable manner and at
reasonable times provided that Lender sball give tho Bonower DOti~ prior to any inspection or appraisaJ specifying a PUlpO$c
for the inspection or appraisal which must be related to Lender's in.- in the Property. If the Property ia vacant or abandoned
or the loan is in default, Lender may take reasonablo action to protect and preseavo such vacant or ap.ndoncd Property without

noli" to the BOJTOWer.

7. Condemnation. The proceeds of any award or claim for damages. direct or coosequential, in connectioD with any
condemnation or other taJcin& of aD)' part of the PropertyI or for coavoyaqce in place ofcondemnation, shall be paid to Lender.
The proceeds shaD bo applied fint to the Rducdon ot any iodcbcedDCII under a Second Note and Second Security Instnunem
held by the Sccretuy to tho Property, and then to the reduction of tho indebtedDea under the Note and this Security Instrument
Any excess proceedl over an amount roquircd to pay aJl outataDdiaa indobtodoess under the N9tO and this Security Instrument
shall be paid to the entity legally en'itled thereto.

8. Fees. Lender may collect {eCl and charges authorized by the Secretary.
9. Grounds for Acceleration or Debt.
(a) Due and Payable. Lender may require immediato paymeat in tu1J of all BUmS ,eoured by this Security Instrwnenl if:
(i) A Borrower dies and the Property is Dot the Principal Rlidca" ofat least one lUl'Viving Bonower; or
(ii)

All of a Borrowets title in tho Property (or his or ber beneficial interest in a trust owning all or part of the
Property) is sold or otherwise traDBfen-ed III DO othor Bonower retains Ca) title to tho Property in feo simple, (b) a
leasehold under a lease for not lea than 99 YQJ'S which is Rnewable or a loase baving I remaining period of not
loss than 50 years beyond tho date of the lOOth birthday of the )'OWIIest Borrower, or (e) a life estate in the
Rroperty (or a boneficial interest in a trult with ~h an interest iD tho Proport)').

(iii) The Proper1)' ceases to be the principal rcsidcooe of a Borrower for reasons other than death and the Property is

not the principal residence ofat least ono other Borrower; or

(iv) For I period of longer than twelve (12) consecudve months. a Borrower fails to physically ~ the Property
beeausc ofphysic;al or mental illness and tho Property i, not tho principal midence ofat lout ODO other Borrower;
or
(v)

An obliaatioD of the Borrower under this Security IDStnuDcnt is not perfonued.

(b) NoUce to Lender. Borrower shall notifY the Lender whenever any of tho oveutlliated in Parapaph 9(1)(ii)-(v) occur.

(c) Notice to Borrower. Lender shaU notify BOITOMr whenever the loan becomes duo aod payable UDder Paragraph 9(aXii)
(v). Lender sball not have tho riJbt to commence ~IOIO uutil Bonower hal had thiny (30) daY' der notice to either.
(i) Correct ,the matter which multed in tho Security IostrumCDr coming duo and payable; .~r
(ii)

Pay tho balanco in full; or

(iii) SeU the Property for the lesser oftho balance or 95% of the apptUed valuo and apply the net proceeds of tho saJe
toward the balan"i or

(iv) Provide the Lender with a deed in lieu ofCoreclosuro.

(d) Trusts. Conveyance of a Bonowets interest in the Property to a trust which meets thG requinm1en1S of the Secntary, or
conveyance of a trust's interelts in the Property to a BolTOWcr. shall not be considered a CODW)'IDCO for purposes of this
Paragt1ph 9. A trust sball not be considered an occupaAt or be considered u having a prin~ipal raideoco for purposes of this
Paragraph 9.
10. No DeJldency Judamenu. Borrower shall haw DO porsooaJ liability for paymout of tbo debt secured by this Socwity
Instnunent. LeDder may enforce tho debt only through .alo altho Property. LeAder ahaD not bo permitted to obtain a deficiency
judgment agaiD3t Borrower if the Security Instrument ja foreelosed.

11. Reinstatement. Borrower has a riiht to be mastated ifLondcr hu required immediate payment ia f\&J1. This right appUes
even after fo~JOSUM pl'Oceediop are instituted. To reinstate this Security InIUwnent, Bonower shall ",met tho condition
which resulted in the tcquircmcat for immediate payment iu &ll. F01WlOlUR ~ and roaaonablo and customary atlOlUeyI' feel
and expenses properly associated with a foreclosure proceeding shall bo added to the principal balap. Upon reinstatement by
Borrower, this Security Instrument md the obligations that it secura shall remain in effect II if Lender had not tl'qUired
immediate payment in fulL However, Lender is aot required to permit mnstatement if: (i) Lender bas accepted reinstatement
after the commencement of foreclosure proceedings within two (2) yoars immediatoly proceeding tho commencement or a
current fORClos\R proceeding. (ii) reinstatement will preclude foreclosure on diffaent grounds in the future, or (iii)
reinslatomenc will advmely affect the priority oftho Security Instrument
lZ. Second Uen Status
(II) ModlfieadoJl. Borrower agrees to extend tbis Security I.ostnnnent In accordaoce with this ParaaraPh 12(8). If Lender
determines that tho original tien statui of the Security Instrument is jeopardJzed under state law .(including but not limited to
situations where the amount secured by the 5ecwity 1nItrument equals or exceeds the maximum principal amount stated or
the maximum period under which 10ID advances retain tho same lien priority initially sranted to loan advances baa expired)
and state law pezmits tho original lien status to be maintained for future loan adVIDQCS throup the execution and rewrdatioJl
of ono or more docwncnts. tben Lender ahall obtain title mdonco at Borrower's exPCllle. If the title evidence indicates that
tbe Property is not encumbered by any liens (except.the First Security lnstrumeDt delCribcd in ParaJlllph 13(a), tbll Second
Security Inslrument aod any subordinate liens ~t tbe Lender decermines will also be subordinate to any futuro Joan
.advancea), Lender shall request tho BOlTOwer to execute IUch documents. ll'ttie law does Dot permit tho original lion ,tatul
Co be extended to future loan advances, Borrower will be deemed to have failed to have perfonncd aD obligation under th~
Se~urity

lnaClUmol1t.

(b) Tax Deferral Prograau. BOlTOwer shaU Dot participate in a real estate tax defeml pro8f8lll, if any lieDl created by the
tax defeml are

not subordinate to this Security Instrument.

(c) Prior Liens. Borrower shall promptly discbllliCl any Uco which bas priority over this Security Instrument unlC$s
BOITOwer: (a) agrees in writina to the payment oftbc obllptioD secured by the Ucm in a manner ~cptabl0 to Lender; (b)
contescs in good faith the lien by, or deCeods agaiust eof01'QmlCl1t of tho lien in, legal proceediDgs which in tho Lenden
opinion operate to prevent tho enforcement of the lien or forfeiture of any put oftho Property; or (c) ICCURI from the holder
of the lien an agreement satisfactory to Londer subordinating tho lien to all amoWltl secured by this Security Instrwnent. If
Lender deaermines that any part of the Property is subject to a lien which may attain priority over this Security Instrument,
Lender may sive Borrower a notiCe identifying the lien. Borrower shall satisfy the lien or take one or more of the aetions ict
forth above within ten (to) day. of the givins ofootico.
.
13. Relation.hlp to First Security la.trumeat.
(8) Second Security IllJtrument. In order to IOCUtC pa~nts which tho SeaetaIy may make to or on behalf of Borrower
pursuant to Section 2"(i)(l)(A) of the Narioaal Housing Act and the Loan Agreement, tho Secretary bas required Borrower
Co execute a Second Note and this Second Secwity Instrument. Bonvwer has alia executed a Firat Noto and Firse Security
InstrumenL
(b) Relationship or Flnl and Second Security Instrwo8llts. Payments made by tho Secremry shall Dot be included in the
debt WIder tho First Noto unless:
(i)
The First Security Instrument is assigned to tho Secretary; or
(ii)

The Secnstary accepCS reimbursement by the holder of the First Note for aU paymcmtl made by the Secrerary.

If the cireumstanccss dClcribed in (i) or (ii) occur, then all payments by the Secretary, including interest on the payments, bu.
excluding late charges paid by the Secreta!)', shall bo includod in tho debt under the Pint Note.

(e) Errect on Borrower, Where there is no assignment or reimburswont as described 111 (b)(i) or (ii) and the Sectelaly makes
payments to Borrower, then Borrower shall not:
(i)

Be required to pay amounts owed UDder the First Note, or pay my renl3 and revenues of the Property under

Paragraph 19 to the holder of the First Noto or a receiver of the Property, until the Secretary bas required payment
in full ofall outstandms principal and aCCNcd interest UDder the Second Note; or
(ii)

Be obligated to pay interest or shared appRCiatioD under tho First Note at any time, whether ICClUed before or
after tbo payments by the Secrolaly, and whother or not accruod intorm bas been incJuded in tho principal balance
under tho First Note.

(d) No Duty or the Secretary. The Secretary has DO duty to tho holder of the of the Fint Note to enforce covenants of the
Second Security Instrument or ~ take actions to preBcrw tho valuo ofthe Property, even though tho hol~ of tho Firat Noto
may bo unablo to collect amounts owed under the First Noto because ofrestrictiODI in this Paragraph 13.
(e) Restriction. on Enforcement. Notwithstanding anything else in this Secwity In.stnunent, the Borrower shall not bo
obligated to comply with the covenants hereof, and Par8IJ8pb J9 mall have 00 folW and effect. whenever there is no
outscanding balance under the Second Note.

14. Forbearance by Lender Not I Waiver. Any forbearance by Lender in cxereiliDg any risht or remedy shall not be a waiYor
of or preclude the exercise of any right or remedy.

15. Suecesson and AssieDl Bound; JoInt and Several LlablUty. Borrower may not assisn any rightl or obligatiODl under
this Security Instrument or UDder tho Se<X)nd Noto, except to a tru8t that meets the rcquiromcots of the Secretary. Borrower's
covenants and a~mcnta shaJl bo joint and several.
.
16. Notices. Any notice to Borrower provided for in thi8 SocwiCy Instrument shall be given by delivering it or by mailing it by
unless applicable law requires usc of another method. Tho notico shall be directed to ,tbe Property Addms or any
other address all Borrowers jointly designate. Any DOtice to tho S=ecary shall be giveo by rusl cius mail to the HUD Field
Office with jwisdiction over the Property or any other addresl designated by the Sccrcuuy. Any notice provided for in this
Security Instrument shall be deemed" to havo been given to Borrower or Lender when liven u provided in this Paragraph 16.
fUll class mail

17. Governing Law; Severabfiity. This SewriCy Instmrnent shall be governed by Federal law aod tho Jaw ofthejurisdietioQ in
which the PropCIt)' is located. In the event that aD)' provision or clause ofthis Sewrity Instrument or the Second Note conflicts
with applicable law, such conflict shaD not affect other provisiODl of this Security Instrument or the Second Note which can be
given offect without tho conflicting provision. To this cod 1110 provisions of this Socurity Instnuncot and the Second Noto are
declared to be severable.
18. Borrower'. Copy, Bonower shall be giveD one conformed copy of the Secoud Note aDd this S~urity Instrument.
NONUNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
19. Assl&nment or Kenb. Borrower unconditionally assigns and transfers to Lender all the rcnca aod nwenucs of tho Property.
Borrower authorizes Lender or Lender's agents to collect the rcats and revenues aDd hereby directs each tenlat oftho Property to
pay tbe rents to Lender or Lender's agents. However, prior to Lender's Notice to Bonower of Bol1'Ower'. breach of any covenant
or agreement in the Security Instrwnent, BolTOWer sbaJl collect and receivo all rents and revenues of Pie Property 88 trustee for
the benefit of Lender and Borrower. This assignment of rents constitutcl aD Ibiolute assignment and not an as.igrunent for
additional security onJy.

.,,:.

.'.::.'

j'
, .S.

If Lender gives notice of bladJ to Borrower: <a) aU ~ntl received by Bonowcr shall be held by Bonower 81 tnlsteo for benefit
ofLendcr only, to be applied to the sums socured by chis Security Instrumcut; (b) Lender shall be eatided to collect and receive
all of the rents of the Property; an4 (e) each tenant oCthe Proporty shaU pay all rents due and unpaid to Lender or Lender's agent
on Lendets written demand to the tenant
.'

BOJTOwer has not oxecuted auy prior assignment of the leOra and bas not and will DOl pcrfonn any act thal would prevent Lender
from exercising its righb WIder thil Paragraph 19, except II provided in the First Security lD5l1Ument.
Lender shaU not be required to enter upon, take control of or maintain the Property before or after giving ootice of breach to
Borrower. However, Leader or a judicially appointed receiver may do 10 at any time there is a breach. Any application of rents
shall not cure or waive any default or invalidate any other right or remedy ofLcnder. This uaignment ofrePCI oCUte Property
shan tenninate when the debt secured by this Security IDJtnunent is paid in MI.
ZOe Foreclosure Procedure. If Lender requires immediate paymeat ba fuD uncler Paraarapb', Leader,may foreclo.e thb
Security IJUtrument by Judidal proceedlDI. Lender .haD be cadUcei (0 coDeet aU apeDla In~rred In panu!ng the
remedies provided In tbb Parlgrapb 10, lacJudlna. but Rol limited to, reMoo.ble attorney.' fea and com of title
evidence.
ZI. Lien Priority. Tho tull amouot lOcum! by this Security Ioslnlment sbaIl havo a neo priority .ubordinatc only
amount 5e~d by the Fint Security Instrument

to

tho tull

12. Adjustable Rate Feature. Under tho Noto, the initial stated intcRst rate of Three and 661100 perceI1t (3.6600A) which
accrues on the Wlpaid principal balance ("Initial Interest Rate") is IUbject to change, as described below. When the interest ralc
changes, the now adjusted interest rate will bo applied to tho total Out8taDdiDa principal balanc:o. Each adjustment to tho intorelt
rate will be based upon the weekI)' average yield on United Statea Trcuwy Securities adjusted to a constant maturity ofone year
("Indcx")plus Ii margin. The Index is published in the Federal Ruerve Bulletin and made available by the Uoiled Slates Treasury
Department in Statistical Releaso H.I S(S 19). If tho Index 11 no longer available, Lender will be
to use Iny index
prescribed by the Department of Houling and Urban Development. The now in~ will haw a historical movement
substantially similar to the original index, and the now index and marain will result in an aonuaI pon;entago rate that is
substantially ,imilar to cho rato in offect at the time tho original indu becomes unavail~le.

.red

Lender will pcrfonn tho calculations described bolow to detennino tho new adjusted iotorest rato. The interest rate may chango
on September 1, 2008, and on the tim day of _ and on that day of each IUCCeCdiDg year, or -.X.- the first day of each
succeeding month (Change Date) untiltbe loan is repaid in fuU.
The value of the IndQ will be determinod, using tho moat IeCCmt Index fipre available thirty (30) days before tho Chanse Date
("Current Index"). Before each Change Date, the'Dow interest rato wDI be calculated by adding margin to the Current IDd~.
The sum of the margb1 plul tho Current Index will be called tho "Calculated Interest Rate" for each Change Date. The
Calculated Interest Rate will be compared to the jntctelt rato in effect immodiaeoly prior to tho CUJ'mlt Clanse Date (tho
"Existing Incerost Rate).
'
Annually AdJUltJug Variable Rate Feature .. The interest rate will Dever increase or decrease by more
than two percentage pointl (2.0%) 00 any single Change Date. The interest rate wiU never bo more than
five percentage points (5.0%) higher or lower than the miliaJ interest rato stated in Parqraph 2 of this
NOle.
Monthly Adjusting Variable Rate Feature The Ca1cu1atod Interest Rate will Dever increase above
13.660%.
The Calculated Interest Rate will be adjusted if necessary to comply with the rate limitation(l) described above and will be in
effect until the next Change Date.. At any change date, if the Calculated Interest Rate equals tho Exfsting Interest Rate, the
intcral rate will not chaoge.
.

e:
,

~;:

~:

!~

23. Release. Upon payment of all sum. aeeurcd by this Security Instnunent, Lender shall release
without charge to Borrower. Bonower 'haD pay any RCOrdation WIts.

tml Security Instrument

24. Attorneys' Fees. AJ used in this Security Instrument and the Note, "attomoys' feel" shall include any attorneys' fees
awarded by an appellate court.
25. RlderJ to this Security Instrumeut. If one or more riderl are executed by Borrower and recorded toSether with this
Security InS1JUment, the covcnantl and agreement5 of cadl such rider shall be inCOJ'POl'*d into and Ihall amend and supplement
the covenants and agreements of this Scc:urity Instrument u if the rider(s) wore I part of this Security In8IrumenL (Cheek all
riders that are applicable].

Condominium Rider

~hared Appreciation Rider

RICHARD T. KWIATKOWSKI

Witnesses

A.S~
Signature:

MARK GILLESP~ TRUSTEE

STATE OF FLORIDA
The foregoing instrument wu acknowledged before me this _F_71I

day of

:J

llA/e @.;Y
. by Penelope M. Gillespie and Penelope M. Gillespie. Trustee,'Mark GWesple, Trustee,

NeD J. Gillespie. Trustee, who is personally known to me; who has produced

i~.

I'

RICHARD T. KWIATKOWSKI

~~\ Nolaly Public state 01 Florida

.j My CommIssIon expires Aug 1, 2009

\~:' 01' ,~.,l

"1',..",

Commlssfon' 00 413769

Bonded By National Noliry Assn.

~,
Name:

..

R'CHARO T. KWIATKOWSKI

Notary Public

A. ,
-~,
.. ' ~
......
~ ~ ~~

.i,,"~

\~~
..,
.....

;"

I,'

. ~;

'!~

~:i

. ~J

-_.. _-~j

23. Release. Upon payment of all sums secured by this Secwity Instrument, Lender shall release this Security Instrument
without charge to Borrower. Borrower shaJl pay any recordation costs.
24. Attorneys' Fees. As used in this Security Instrument and the Note, "attorneys' fees" shaH include any attorneys' fees
awarded by an appellate court.
25. RJders to tbls Security Instrument. If onc or more riders arc executed by Borrower and recorded together with this
Security Instrument, the covenants and agreements of each such rider shan be incorporated into and shan amend and supplement
the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrumtnl [Check all
riders that are applicable].

PUDRider
Other
BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in this Security Instrument and in
any rider(s) executed B rrower ~d
rded with it.

Signature;

PENELOPE M. GILLESPIE (Borrower)

NEILJ. GILLESPIE"TRUSTEE

PENELOPE M. GILLESPIE, TRUSTEE

'~~u'(j~
MARK GILLfSPIE, TR STEE

STATEOF~~~5 (1I~11l.)
The foregoing instrument was acknowledged before me this

COUNTYOF'$irrt()

. . day ofJ;;;e ~tJ()d"

_ _ _ _ _ _ _ _ _ _i. by Penelope M. Gillespie and Penelope M. Gillespie,

Neil J. Gillespie, Trustee, who is personally known to me; who has produced

~(if ( ',>

L'('

0(/}

S '(

Trus~~rk G;I;:;~

as identification and who did (did not) take an oath.

;:::jj d A. ~& --;1/h;/~

'Td
-<~~!I
pe/e/l !J;V/f,~iJZ/;p
r
A

Name:

FL zi Mortgage
Ptag.1

EXHIBIT A
Exhibit A to the Mortsago liven on June 05,1008, by Penelope M. GillespIe. Noll J. Gmuple and Mark Gmaple, as Co
Trustees or The Gillespie PamU)' Llvlna 'fruit Alreell1eal dated February 10, 1m ("BoIT'OWer") to the Secretary of
Housing and UrbaQ Dovelopment, and whole addJul is 451 Seventh Street. S.W.. Wuhinston, D.C. 20410, ("Lender" or
"Secretary"). The Property is located jn the county of MarfOll, state ofFL, dcacribcd.. follows:

Description ofProperty
Legal Description attach~ hereto IS 'Bxhibit A' and by this reference mado a part hereof.
.
....
.

LOT(S) It BLOCK G, OAK RUN WOODSIDE TRAer, ACCORDING TO THE PLAT.

THEREOF AS ~ORDED IN PLAT BOOK 2 AT PAGE(S) 106 THROUGH 112,
INCLUSIVE, OF THE PUBLIC RECORDS OF MARION COUNTY, FLORIDA.

PLANNED UNIT DEVELOPMENT RIDER

FHA Case Number: 091-44057411952..155

Loan Number: 39100

nus PLANNBD UNrr DEVELOPMENT RIDER is made on June OS, 2008, and fa incorporated jnto and shall be
deemed to smead and supplcmont the Mortpp. Deed ot'TNIt or Security Deed (tho Security IDstrumont or "Second
Security l11Stnlmcnt'? of the same dato aivon by the undomgncd ("BoJrOwcr") to lecure Borrower'. Second Note to the
Secretary of Housina and Urban Dovclopmont ("Lender") oflho .ame date and coverinS Che Property described in the
Security Instnuncnt and located at:
8092 SW 115th Loop, Ocala, FL 34481
Tho Property is a part of a planned unit development (POO) known u:
OAK RUN

PUD COVENANTS. ID addition to thee coveaantl and agreementl made In the SeeurUyla.trumeDt, Borrower
and Lender further covenant and alRe I. foUow.:
A.
So Ions as Ihe Own~' Association (or equivaleDt entity holding titlo to common area and facilities, acting as .
IlUStcc for tho homeowners, maincain.s, with a pnorally accepted insurance carrierr a "muter" or "blanket"
policy insuring the'property located In tho POO. including all improwments now eXistiDa or hereafter eRCtcd
on tho mortgaged premises, and such policy is satisfactol)' to Lender and providca inluIanco coverage in the
amounts. for me periocb. and against tho hazards Lender and the Secretary require. includins fire and other
hazards included within the term "extended coverage," and 10.1 by flood. to the extent required by the
Secretary. then: (I) Lender waives the proviSion in Paragraph 2 ot this Security Instrument Cor the payment of
the premium for hazard insunmce on the Property, and (ii) Borrower'. obliptioQ UDder ParaJrlPh 3 of this
. Security Instrument to maintam hazard jl1l\U'8DCO on tho Property is deemed satilfied to tbe extcDt thai tho
required coverage is provided by the Owners' AuociatiOD polley. Borr'OWCf shan givo Lender prompt notice
ofany lapse in requirod hazard insurance coverage and of any loss occuning from a hazard. In the event ofa
distribution of hazard Jasurance proceeds in lieu of rcstoradon or Jepair folJowin. a losa to the Property or to
common areas and facilities of the PUD, any procccdI pa)'Jblc to BOlTOwer are hCRby uaigaed an4 shall be
paid to Lender for application 10 the surna .ecured by this Security Instrument, with any oxccss paid to the
entity legally entitled thereto.
B.

Borrower promises to pay all dues and UlO8IJ11ent8 imposed punuant to the legallnstnuncnts creating and
governing the POO.

C.

If Borrower docs nol pay POD dues and assessmen&8 when due, then Lender lOllY pay them. Any amoun'!
disbuned by Lender under Chis paragraph C .hall bCGOtDO additional debt olBolTOwor soCURd by tho Security
InstrumenL Unless Borrower and Lender agree to other cerms ot payment, these amounts Ihall boar interest
trom the date ofdisbursoment at ~o Note 1'ItO and.haD be payable, with interest, upon DOtiCO from Lender to
Borrower requeatinf payment.

BY SIGNING BELOW, B01T~wer aceoPtl and agrees to tho terms and provisions contained in Ibis POO Rider.

:Z-PUD

__

----._.

...

_--.

rip

J all

..

'~~

J.

"

"

PLANNED UNIT DEVELOPMENT RIDER

Loan Number: 39J00

FHA Case Number: 091-44057411952255

THIS PLANNED UNIT DEVELOPMENT RIDER is made on June as, 2008, and is incorporated into and shall be
deemed to amend and supplement the Mortgage, Deed ofTrust or Security Deed (the "Security JllStrument" or "Second
Security Instrument") of the same date given by the undcnigned ("Borrower") to secure Borrower's Second Note to the
Secrelary of HOUling and Urban Development ("Lender") of the same date and covering the Property described in the
Security Instrument and loe.led at:
g092 SW 115tb Loop, Ocala, FL 34481
The Property is a part of a planned unit development (1'00) known as:
OAK RUN

POO COVENANTS. In addilion to thee coyenants and asreement. made In Ihe Security fnstrument, Borrower

and Lender furtber covenanl and agree II foUows:

A.
So long as the Owners' Auoeiation (or equivalent entity holding tille to common areas and facilitiCl, acting IS

lrWitee for the homeownm, mainlains, with a generally accepted insurance carner, a "master" or "blanket"

policy insuring the property located in the PUD, including all improvements now exisling or bereafter erected

on the mortgaged premises, and such policy is satisfactory to Lender and provides insunmce covenge in the

amounts, for the periods, and against the hllZlll'ds Lender and the Secretary require, including fire and other

hazards included within the tenn "elltended coverage," and loss by flood, to che extent required by the

Secretary, then: (i) Lender waives the proviiion in Pangraph 2 of chis Security Instrument for the payment of

the premium for hazard insunmce on the Property, and (ii) BorrowCl'a obligalion under PBr8lJ'11ph 3 of this

Security Instrument to maintain hazard insunmce on the Property is deemed satisfied to the cxlCOt that the

required COVCnlgc is provided by lbe Owners' Association policy. Borrower shall give Lender prompt notice

of any lapse in required hazard insurance coverage and of any loss OQ;UJTing &om a hazard. In the event of a

distribution of hazard insunDCe procoeds in lieu of restontion or repair following a losa to the Property or 10

conunon areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned aD<! shall be

paid to Lender for application to the 5Urn& secured by this Secwity Instrument, with any ClICesS paid to the

entity legally entitled therelo.

B.

Borrower promises to pay all dues and assCSSrl1ents imposed pursuant to the legal instruments crealing and
governing the PUD.

C.

If Borrower does not pay POO dues and assessments when due, then Lender may pay them, Any amount!
by LeDder under this pangraph C shall become additional debt of Borrower secured by the Security
Instrument Unless Borrower and Lender agree 10 other terms of payment, these amounts shall bear interest
from the date of diJbunement at Ibe Note nte and shall be payable, with interest, upon DOlice from Lender to
Borrower requellinJ payment.
di~bursed

BY SIGNING BELOW, Borrower accepu and agrees to the terms IlId provisions conlllined in this PUD Rider,

7i7d

4(Ay--;
'

Penelope M. GJUeapJe, Trultee

Mark DleapJ.. Truatee

Penelope M. Gillespie,

NEIL J. GILL'ESPIE,

r'rUD

PI,llort

TRUsTEE

.~

STATEOFFL

June Os, Z008

PROPERTY ADDRESS

FHA Cuo NalDber: 091-44057411952-255

Lou NlIDlber: 39100

8092 SW 115th Loop

Oeala, FL 34481
I. DEFINITIONS
"Borrower" moan. each plll1lon lignil18 al Cho end of Chil Note. "Lcadar" IDeJIII LIbert)' Roven. Mor1&..... Ine. Uld ill
SUCCClSO" and Ulip. "Sec:retaly" mellll lbo Seaotary o( HOIIIin& and Urban I>o'ffiopmeal or hJa or !la" authorized
rqIrcsenlllivcs.
2. BORROWER'S PROMISE TO PAY; INTEREST
rn rclUm (or lIIlIOIIllll to be advaaecd by Laldet up to a maimum priacipal amouat of One Hundred NlAotJ-EJaht Tbo\llllad
and 001100 DoDan (SI98,000.00), to or (or the beoetil of Bonvwer WIder lbo tomII of a Homo Bqulty Coavenion Loan
Agrcemeat dated Juao 05, 2008 ("Loan Agreeznml"), BorroweI promisolto pay to tho older o( Lcudor a priacipallJllOUDl equal
to the sum of all Loan Advanc:eI DIldo 1IIIder Che LoaD Apemeat wilb intmtl A1111DOUll1l advaIll:ed by Leuder, pillf inlerest, if
nol paid e.mer, arc duo lIIld payable oa October 29, 2080. InIercal wlll be eharpd on 1IIIpUd principal at !be rate of Three aad
661100 percenl (3.660%) per year 1D11i1 lbe fuD IIIIOWIt ot priaclpaIlw beeD paid. Tho interelt mo may ehan&o in accordance
with Paragraph S o(this Note. Al the end of each month, lCCIUod lateral IbaIl be addod to and made part ofthc principal balance
u a Loan AdvIDec and .baIllikewilo thcrca1ler boar intCl'Clt.
3. PROMISE TO PAY SECURED
Borrower's promise to pay ilaccurcd by a mortgage, deed oflrUal or similar ICCW'ity iastrumoat lbat II dated tho same date lithia
Note and called tbo "Security InstnmlCnL" The Security IoIcrwneDt plOlOetl tho Lender from 101101 wbich might l'CIUll if
Borrower defaulb under this Note.
4. MANNER OF PAYMENT
(A) Time
Borrower 5ba1J pay all oUlll8Dding priacipalaad lCCI1lod Jatercst to Leader upon recelpl of a nolice by Leader requiring immediate
payment in filii," provided in Paralfllpb 7 of Chis Note.

(8) Place

Payment shall be mado at 10951 Wblto Rock Road, Suite ZOO, Raacho Cordova, CA 95670 or any such oCher plaoe as Lender
may dcsiplatc in writing by DOtice to Borrower.
(C) L1mltlltlon of LlabUlty

Borrower shall have no personal liability for payment of the debt. Leader.baII eaforcc lIIe debl omy through .alo of tho Propmy
covered by lbo Security Iastrurnenl ("Propcrty"). If lhlI Note iI Ulilllled to tho Secretary, !be Borrowor shall not be liable for any
difference between the mortgage IlIIIII'IIIce benefits paid to Louder lIIld tho outnlndln& indebtedness, iadudil18 accruod interest,
owed by Borrower at the limo o(assignment.

5. INTEREST RATE CHANGES

(A) Cban!:, Dale
The interest lite may chlIIlge on tho fm day of September I, Z008 and on _ thot day of each lueceeding yeer, or -lL the fi"l
dsy of each IIIcceedJag month. Chanae Oato mCIDI each date on which the intetesl rate could dJaoge.
(8) Tbe Index

Beginning with the first Chango Date, tho interesl ~ will be basod on an Index. "Index" m_ lbo weekly average yiold on
United SIIIOI Tl'CllIUly Securilies adjlllled to a coastllnt maturity of 000 year, as made available by lIIo Federal Reservo Board..
Current IndeJt" means Ibe moat rcccntIndex figure avallablo 30 dayf before tho Chanie 0.10. If tho lndelt (II detlaed above) is
no longer available, Lender will usc as a new Index any index prescribed by tho Secretary. Loader will give Borrower nolice of
the ncw Index.
(C) Calculation or latCI'CIl Rate Cbanges
Before each Chal180 Date, Leader will calculate a DOW lateral nte by addiaa a marJin of 1.500 poccentago poinla to lbe Current
Index. Subject 10 lbe limi13 silted In PUlIlflIpb S(D) of thlI Note, lhlI amounl will be Cho now intorat lite until tho next Chango
Date.

11

(D) UmltsoD Interert Rate Clwl&es

Annual: The interest rate will n~ increue or dccreue by moro thaDlWO perceotqe poinll (2.0%) on any
lingle OIango Date. The inlcrUl rate will never be more than fiv, percentage poinll (5.0%) higher or lower
lhan the initial iaimll rate .tated in Parapph 2 oflhi. Noto.
.

-K..

Monthly: The inte:trt rate wiU never increase above 13.660%.

(E) NoUcl 01 Changes

Lender will give notice to BoJ'l'OWe: of all)' cbanae 10 the inle:elt rate. The notice I11UIl be &ivai alleat 2S daya bofore the ~

interesl rate takes effect, and 1D1lI1 aet folth (I) lbo date of the 1IOlice, (ii) the Chaogo Date, (Iii) the old inlmSt rate, (iv) the oew

interest ralll, (v) the Cwrenl Indolt and the dale il WII publiabed, (vi) the method of calcuIalins the adjUlled inlOrall rato, and (vii)

any other infonnalioll wbich may be teqUimI by law fiom limo to time.

(F) Effective DatI of Chances

A new iDtorcsI ralO calCII!atod in ~rdaoco with Parapplls SeC) and S(D) of lbJI Nolll will become effective on the Change

Date, unless the Chanae Dato occun Ie., than 2S day. after Lender baa giVClllho requinId notice. lflbo interell rate calculated in

accordance with Paragraplls SeC) and S(D) of thia NolO de=esed, but Lender fiilcd to aive timely notice of lbo decrease and

applied a higher rate than the rale which should have been atated in timely notioo, then Lender aha1I recalculate the principal

b.lance owed under this Nole 10 it dOOl DOl reflect any aCO$Iivo inleraL

6. BORROWER'S RIGHT TO PREPAY

A Borrower roc:eiving monthly paylDOllll under tho LoaD AgI'OOlllClll baa tho right to pay the debt ovldenced by thit Note, in Whole
or in part, withoul char&e or penalty. Any amounl of debl prepaid will first be applied to reduce tho principal balanco of the
Second Note described in Paragraplt II of thia Note and thoo to reduce tho principal balaDco ofthi.Noto.
All prepaymenls of the principal balanco sh.D be applied by LolIdcr u followa:

fial. to that portiOD of tho principal balance representing auzepte payments for mortgage insurance premium.;
~ to

thaI portion of tho principal balance reprclenting awogato paymenll for aorvi~g fees;

Ibi!lI, 10 thaI portion of the principal balanco represClDting aocrued intorell duo under the Note; and

fmmb. 10 the remaining portion or the principal bauo. A Borrower may apeci1Y whether a propaymonl it 10 be crested to thel
ponioD of th~ principal balance representing monthly paymCDII or tho IiIlo of credit. If Borrower dOOI not designate which portion
of the principal balanco it 10 be prepaid, Lender sbalI apply any parliaI prepa~ to an oxiating Iino or crodit or croale a now
line ofcrediL
7. IMMEDIATE PAYMENT IN FULL
(A) Death or Sale

Lender may teqUiro iD1lDediato payment in full of all oulItanding principal and accrued intol'Oltlf

(i)

A Borrower d101lDd the Prop~ ia not the principal residODco ofatlout OPo surviving Borrower; or

(ii)

All of a Borrower's title in the Property (or hIa or her bcne1loial inlel'Cllt in a tnIsl owning all or pan of the
Property) is aold or oth_1Ie lraDJferred and no olber Borrowet rotaills (a) IItie to the Properly in fee limple (b)
a leasehold under Ileuo for less thaD 99 yarI which 18 renewable or Ioaao havina a romalnlng period of nOI
1011 than SO years beyond the date of tho 100lh birthday of lbo youngOll Borroww (or retaining a bcneflclal
intorclt in. lnISl with such an interesl in the Property), or (c) a life OIlIte in the Property.

(B) Other Ground.

Lender may require immedialo payment in filII of all outstanding principal and accrued interest, upon approval by an allthorized

reprclenta!ive of the Secretary, if

(i)

The Property COISOI to be tho principal residence of a Borrower for reuona olber than dealb and the Properly is
not lbo principal residenc. or leat 0lICl olber Borrower;

(ii)

For a period of longer than lwelw (12) CODIceutivo mot1lha. a Borrower faila to phyaicaUy occupy tho Property
bec:auso of physical or mental illnClSl and tho Proporly it nOl tho princ1paJ l'OIideDco of at leasl one other
Borrower; or

(iii)

An obligation of the Borrower under the Security Instrument is not performed.

(C) Payment of Cosll and Expeues

If Lender baa requirod i~ paymenl in MI, II descn'bad above, tho debt ooforoed t1lrou&b laIe of the Property may inchlde
CO&l3 and ClJtpenscI, including I1lUODIble and customary attornoys' rces. INOCiated with enforcemeul of tbiI Noto to the extonl not
prohibited by applicable law. Such ~ aDd COIla .hall bear intorelt from tho dato of d1lbunelDClDt althe 1lIIIO rate II the principii
of this Note.

J! 71/.)/
FImNoll

(D) Trash
.

Conveyance of a Bonowcr'a Jntorcst In the Property to a tnJIt which moeta the requiremenfl of tho Secretary, or conveyanco of a

truSl', interest in tho Property to a Borrower, ,haU not be coMidorod a convoyanoo for purposa of this PII'88J8Ph. A trust .haU not

be considered an occupant or bo considered I' having a prioclpall'Olldenco for purpOlCI oC ibis Pll'larapb.

8. WAIVERS

Borrower waives the rights of presenbnenl and notice of dishonor. ftPrelcntmeot" means tho right to require Leader to demand

payment ofamountl duo. "'odcc of disbono~ meaDS tho rigbt to require Louder to givD notice to othor penon. that amounts due

havo not been pajd.

.

9. GIVING OF NOTICES

Unless applicable law requires a differenl method, any notice that IJ1UIt be liven to Bonowor under this Note will be given by
it or by maUiol it by f1rat class mail to B011'OW0l at the property addrea abovo or at diffetent address if BOJTQwer has
liven Lender a notice ofBorrow:erl dJfrercnt addros.
d~livcrinB

Any notice that must be given to Lender under this Noto will be liveD by first class mail to Lendor at tho address stated tn
Pangraph 4(B) or at a different address if Borrower is Biven. notice of chat ditreroot addrca.
10. OBLJGAnONS OF PERSONS UNDER nus Nom

If morc than ODO porson silOS ,thi. Note, each person is fully obligated to keep all of the promises made in fbi. Note. Lcndor may
enforco ita rights under this Note.only throuSh sale of the Property.
IJ. RELATJONSHIPTOSECONDNOTE

(A) Second Note

Because Borrower will bo rcquin:d to repay amountl which tho Secrollry may make to or on bobalf of Borrower pun\18nt to
Section 2SS(i)(1)(A) oftbc National Houama Act and cho Loan Apecn1ont. the SOGrOtary hal required Borrower to lrant a Second
Note to tho Scerctaty.
(B) Relationship or Secrotary P.ymena to thll Note

Payments mado by tho Socretary ,ball not be Included in the debt duo UDder thiI Noto unJOII:

(I)

Thi. Noto II .,ipod to tbo Sccrotary; or

(ii)

The Secretary aC"ptl rcimburaomcntl by tho LondOI' for an paymeats made by 1be Socrotary.

If the circumstances described in (i) or (ii) occur, then all paymeota made by the Seetary, including fnterest 00 the payments,

shall be included in the debt.

(C) Enect on Borrower

Where thore is no u.ignment or reimbursement u described in (8)(i) or (Ii). and tho Secretary makes payments to BOJTOwer, then
Borrower shall nor:
(i)

Be required to piy amounts owed under this Noto until tho Socretary hu required paymont in full ot' all
outstanding prioeipal and accrued interest under the Second NaCO hold by the Secrotalyt notwithstanding
anything to tho contrary in Parappb 7 of this Note; or
.

(ii)

Be abila-led co pay fntmm or .hared approcladon under thfa Noce at any time. whether accrued before or after
tho paymontl by tho Secretary, and whether or Dot accrued iulOl'elt has been included in tho prmcipal balance of
this Nolo, notwith.tanding anything to the commy In Paragrapha 2 or , of UUI Noto or any Allonge to this
Note.

BY SlaNINO BELOW, Borrower accepts and agree' to tho term, and covonantJ containod In this Note.

Dated:

Jt'A!t:C;II'~"'"
./, 1RP~
-

Mark GUJaple, Trultee

PirstNoa.

(D) Trults

Conveyance of a Borrower's interest in the Property to a tnJst which meets the requircmeoIB of the Secretary, or conveyance of a

trust'. interest in the Property to a Borrower, shall not be considered a conveyance for purpoSCI of this Paragraph. A trust shall not

be considered an occupant or be considered as having a principal residence for purposes of this Paragraph.

8. WAIVERS

Borrower waives the rights of presentment and notice of dishonor. "Presentment" means the right to require Lender to demand

payment of amounts due. "Notice of dishonor" means the right to require Lender to give notice to other persons that amounts due

have not been paid.

9. GIVING OF NOTICES

Unless applicable law requires a different method, any notice that must be given to Borrower under this Note will be given by
delivering it or by mailing it by first class mail to Borrower at the property address above or at a different address ifBorrower has
given Lender a notice of Borrowcrs different addrcSI.
Any notice that must be given to Lender under this Note will be given by first class mail to Lender at the address stated in
Paragraph 4(B) or at a different address if Borrower is given a notice of that different address.

10. OBLIGATIONS OF PERSONS UNDER THIS NOTE

If more than one person signs ,this Note, each person is fully obligated to keep all of the promises made in this Note. Lender may
cnforce its rights under this Notoonly through sale of the Property.
11. RELATIONSHIP TO SECOND NOTE

(A) Second Note

Because Borrower will be required to repay amounts which the Secretary may make to or'on behalf of Borrower pursuant to

Section 2SS(i)(1)(A) or the National Housing Act and the Loan Agreement, the Secrctary has required Borrower to grant a Second

Note to the Secretary.

(B) Relationship of Secretary PaymentJ to this Note

Payments made by the Secretary shall not be included in the debt due under this Note unless:

(i)

This Note is assigned to the Secretary; or

(ii)

The Secretary accepts reimbursements by the Lender for a1l payments mado by the Secretary.

If the circumstances described in (i) or (ii) occur, then aU payments made by the Secretary, including intCfCSt on the payments,
shall be included in the debt.

ee) Effect on Borrower

Where there is no assignment or reimbursement as described in (B)(i) or (ii), Bnd the Secretary makes payments to Borrower. then
Borrower shall nOl:
(i)

Be requircd to pay amounts owed under this Note until the Secretary has required payment in full of all
outstanding principal and accrued interest under the Second Note held by the Secretary. notwithstanding
anytbing to the contrary in Paragraph 7 of this Notc; or

(ii)

Be obligated to pay interest or shared app~iation under this Note at any time, whether accmed before or after
the payments by the Secretary, and whether or not accrued interest has been included in the principal balance of
this Note, notwithstanding anything to the contrary in Paragraphs 2 or S of this Note or any Allonge to this
Note.

BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Note.
Daled:

~~..-4~

Penelope M. Cille.wple

Penelope M. GllJesple. Trustee

Firat Note

2oO'l?

ADJUSTABLE RATE SECOND NOTE

(BOME EQUITY CONVERSION)

STATEOFFL

June OS, :Z008

FHA Cue Number:

PROPERTY ADDRESS

091-440574I~S2-Z55

Loin Number: 39100

8091 SW 115tb Loop

Oal.. FL 34481
1.

DEFINITIONS

"BOITOWer" me8III each JlC"on .igning at the end of thia Note. "Sec;mary" or "Lender"
HOUIing and Urtlan Development or his or her authorizecl repmenlltiVOI.

IllOllJI8

the Secretary of

Z. BORROWER'S PROMISE TO PAY; INTEREST

In return Cor arnounlli to be advanced by Lender up to a maximum principallU1lOllllt of Oae Huadeed Nlnety-EIEht

Thounnd Ind 00/1 00 Dollan (5198,000.00), to or for tho benefit of Borrower IIIICIer tho lmmS of a Home Equity
Convenion Loan Agreement dated JUDO OS, Z008 C'LoaD Agreemenr'), Bomnvcr promilel to pay 10 .the order of
Lender a principal DIIIOIIIlt equal to tho fIUll of aU Loan AdY1lDCCl IIlIIdo under tho Loan Agreement with inla'eSl. All
amoun18 advanced by Lender, plus intemt, ifnol paid earlier, are duo aud payable on October 19, Z080. Interest will
be charged on unpaid principal at the l1Ite of Three Ind 661100 percent (3.660%) per year Ulltil the 1\10 amounl of
principal has been paid The intemt rate may cbaap in accordance with Paragraph 5 of thil Note. At tho end of each
month, acaued inlerm .haIl be added to aud made part of the principal balance u a Loan Advance lUId .baII likewise
themfter bear interest.
3. PROMISE TO PAY SECURED
Borrower's promile to pay is ~ by a mortgage, deed of trult or .imilIr .ecurity instnunent that i. dated the same
date as Ibis Note and called tho "Security InItIument" or tho "Second Security Instrwnent". The Security Instrument
protects the Lender ftom 10ssea which mlghl l'OIIIlt if Borrower dofau1llll1lder thiI Note. Borrower also executed a
Fint Security Instrument aud Fint Note when tbe Second Security lnstnlmorlt and thia Nolo were executed.
4. MANNER OF PAYMENT
(A) TIme

Borrowl:r Iball pay all outstanding principal and ICCilled iDterm to Leader upon rocl:ipt of a notice by Lender re<[\liring
immediate payment in fUll. I I provided iD Pua8l1lpb 7 oftbis Note.
(B) Flace

Paymenl shall be mado at the Office of thl: HOIISing-FHA Comptroller, Director of Mortgago IMnDcc ACCQ\IIlting
and Servicing. 451 7th Street, S.W., WashiIIgtou. DC 20410, or any such other placo u Lender may designate in
wriling by notice 10 Borrower.

(q Limitation oCLlablllty
Borrowl:r shall have no paraonalliability for paymenl of the debL Lender shaI1 enforce the debt oaly through sale of
the Property covered by the Security wlrWnent ("Property").

5. INTEREST RATE CHANGES

(A) Change Date
The inlCl'CSl nllo may change on tho tint day of September 1, Z008 lUId on _ that day of each succeoding year. or
2l. the finl day of eacb sue:c:eeding month. Change Date mOlllll each dale OD which the inteRlt rale could cbauge.
(D) The lndu
Beginning with the lirst O1ango Dalo, the interesll1lte wiD be baaed oa an Iudex. "Index" meana the weekly avel1lge
yield on United Slales Treasury Securities adjuated to constanl maturity of one year, U made available by the Fedel1ll
Reserve Board.. "CulTcnt Index" ITIOllIIS tho lIlO$t recent Index figure available 30 daya before 1110 Change Date. If the
Index (M defmed above) is no longer available, Lender will uso U a now Index any index prescribed by tho Secretary.
Lender will give Borrower notiCe of the .DCW Index.

(q Calculation oC InterNt Rate Chanlcs

Before ea<:h OIango Dale, Louder wiu calculate a Dew inlerestl1lle by addina a llIIIIiin of 1.500 percentage poinu to
the CwTcnt Index. SUbjecllO the Iimillltaled lD Pua8l1lpb 5(D) oftbJI Note, thil 1m00000t will be the now interm ralo
UI1tilthe nexl Change Date.

12

(D) Limits on Interest Rate Chances

Annual: The interest rate will never increase or decreaso by more than two percentage points
(2.0%) on any singlo Change Date. The iDtemt rate will never be more thaD five percentage points
('.OOA.) higher or:lower than tho initial interest rate stated in Paragraph 2 of this Note:

-A.

Monthly: The intc~t rate will nover iaaoasc above 13.660/g.

(E) Notice

or Chanlel

Lender will give notice to Borrower of any change in the interest rate. The notice mUll be given at least 25 days before
the new intere3t rate takes effect, and must set forth (i) the date of the notice, (ii) the Change Date, (iii) the old interest
rate, (iv) tho now interest rate, (v) the Current Index and the date it wu published, (vi) the method of calculatiPg the
adjusted int=st ralo, and (vii) any other infonnation which may be required by law from time to time.
(F) Effective Date or ChaaaCl
A new interest rate calculated in aceonlancc with Paragraphs S(C) and S(D) of this Note will become effective on the
Chango Date, unless tbe Change Dare occurs less than 25 days after Leader baa given the required notice. If the
interest rate calculated in accordance with Paragraphs SeC) and '(D) of this N01e decreased, but Lender failed to give
timely notice of the decrease and applied a higher rate than the rate wbich should have been stated in a timely notice,
then Lender shall recalculate tho principal balance owed under this Noto so it does not reflect any exCCSlive interest

6. BORROWER'S RIGHT TO PREPAY

A BOlTOWer receiving monthly paymcots W1der the Loan Agreement has tho right to pay the debt evidenced by this
Note, in whole or in pan, wilhout charge or penalty. Any IDlOWll of debt prepaid will first be. applied to redu~ the
prin<;ipal balance of this Noto and tben to reduco the principal balance of the Fint Noto.
All prepayments of the prin<;ipal balance shall be applied by Lender as follom:

fi.W, to that portion althe principal balance representing aggrepte payments for mortgage insurance premiums;
~

to that portion oCthe principal balance representing aggregate payments for servicing fees;

IhiJ:5I, to that portion of the principal balanca representing accrued interest due under the Note; and
fsmI:lb, to tho remaining portion of the principal balance. A BOlTower may specifY wbetbcr a JRl'Aymcnt is to be
created to that portion of the principal balance repraeotina monthly paymeucs or the line of credit If Borrower does
not designate which portion of the principal balance is to be prepaid, Lender shall apply any partial prepayments to an
existing line ofcredit or create i new line of credil

7. IMMEDIATE PAYMENT IN FULL

(A) Death or Sale

Lender may require immediate payment in full of all outstanding principal and accnaed interest if:

(i) A Borrower dica and the Property is DOC the principal rcaideoce ofat leat one surviving Borrower; or
(ii)

All ofa Borrower's title in tho Property (or his or her beneficial mterest in a trust owoins all or part of the
Property) is sold or otherwise uansferred and DO other Borrower retains (a) tide to the Property in fee
simple (b) a leasehold UDder a 10Qe for less than 99 years which is renewable or a lease having a
remaining period of not less than 50 years beyond the date of the IOOIh birthday of the youngest
Borrower (or xetaininS a beneficial intelat in I tnISt with such an intemt in the Property). or (c) a Ufo
estate in the Property.

(B) OUler Grounds

Lender may require inuncdiatc payment in tbJl of all outstanding principal Ind accrued interest, upon approval by IQ
authorized representative ofthe Secretary, if:
(i) The Property ceases to be the principal residence of a Borrower for reasons other than death and the
Proporty is not the Principal reaidence of at leat ono other Borrower;
(ii) For a period of lo~cr than twelvo (12) consecutive months, a BoJTower fails to phYlically occupy the

Property because of pbysical or mental illnea and the Property is not the principal rcsidonco of at least

ono other Borrower, or

(iii) An obligation of the Borrower under the Security loatrument Is not perfonned.
(C) Payment of Costs and Expeuel

If Lender has required immediate payment in tu1l, as dacribed above, the debt enforced through sale of the Property
may include costs and expenses, including reasonable and customary attorneys' fees. associated with enforcement of
this Note. Such fees and costa shall bear interest from the date ofdisbunement at the same rate as the principaJ of this

NOlO.! 1J1./J~

(D) Tru.ta.

ConvC)"llco of a Borrower'. interost in the Property to a lnut which moeQ the reqllirements of the ~lIly. or
conveyanco of a lnIII'J inlemtJ In the Property 10 a Bonvwet. thall nol be COIIIIdered a ccinveyaaco for purpclSCI of
this PuaP'Bpb. A ll'UIt thall not be c:onsldered an oc:oupant or be COllIidered as baving a prlDDlpal I'OIidence for
purpll'e" of this Paragraph.

8. WAIVERS
Borrower waives Ihe r1gbll ofprelOlJllDelU and notice of dishonor. "Presentment" means lbe rigllllO require Lender 10
demand pa)'ll\Clll of arnounls clue. "Notice of dbbonor" means tho right 10 requiJe Lender 10 live notice to olller
persoas WI amounts due have DOl been paid.
9. GMNG OF NOTICES

Unless applicable law requirea a diffa'ent method, any aotioe lhatll1llll be given to Borrower under Illil Note will be
Biven by doJiverinl il or by mai\laa il by ftrst cIaA inaiJ to Borrower at the property addl'lllll abow or at a differenl
address if Borrower has alven the Se<:relary notice of Borrower'. diffaont adcIrea.
Any nOlicc lhal must b= given to the Somcary under thIa Note will be given by firat cllll mail 10 the HUD Fiold Officc
with jurisdiction over the Property or any other addreN deslpted by tho Secrellly.

10. ODUGATIONS OF PERSONS UNDER THIS NOT!

If more lhan ono penon signa thIa Nolo. e.ch person iI fully obligated to keep aU of the promi.es llIIICIe in this NOle.
Lender may cnforco ill r1ahll under thlJ NolO OIIly lhrougb salo ofthe Property.

11. RELATIONSHIP TO FIRST NOTE

(A) Seeond Noto
Because Borrower will be required to repay arnounlI which the Secrelary may make to or on behalt of Borrower
pursuanl to Sec:tioa 25S(1)(IXA) of the National Housing Act and the Loan Agreement, tbo Socrotary has ~ired
Borrower 1o grant thIa Nol. to the Soc.rotary.
(B) Relatlonsblp of Secretary Payments to PInt Note

Payments m.de by tho Socretary .haIl be included in the debl duo under this Note unless:

(i)

The Flnl Nole II usiped to lhe SocreWyi or

(ii)

Tho Seerotary accepts relmbunemenll by the Lender for all paymenll, mado by Ihe Socrctary.

If the circumstances described In (I) or (Ii) occur. then all plymenlll llIIICIe by Ibo SecrclaIy. Including inlel1ll1 on lhe
paymellll, &hall be included In tho debt under lho Firat Note.
(C) Notice or Intuelt, Rate AdJustmmtl
Borrower aareea that at ,long .. tho bolder of tho First Nol. continues to make Loan Advancoa. any notice of inlel1llt
late adjustment iiven to Borrower under PlI1lgraph .5(E) of the Plrat NOIll &hall allo be considered to be notice to
Borrower under PaTlgrapb .5(E) of this Noto. 10 thatlbo aame inlertllt rate ahallapply for the F'ltIt Note and thia Nole.

BY SIGNING BELOW, Borrower accepll and agree" to the lerms and covenllllU contained in this Noto.
Daled:

;SeA; 5 ?

~tJf
J~ PDiiUSTU
Mark GWaple, Tl'uIteo

Seeond Nolo

(0) Trwls.

Conveyance of a Borrower's interest in the Property to a trust which meets the requirements of the Secrclal}', or
conveyance of a trust's interests in Ihe Property to a Borrower, sball nol be considered a conveyance for purposes of
Ihis Paragraph. A trust shall not be considered an occupant or be considered as having a principal residence for
JlIIrposes of this Pangraph.
8. WAIVERS
Borrower waives the rights of presentment and notice of dishonor. "Presentment" means the right to require Lender to
demand payment of amounts due. "Notice of dishonor" means the right to require Lender to give notice to other
persons lhal amounts due have not been paid.
9. GIVlNG OF NOTICES
Unless applicable law requires a different method, any notice that must be given to Borrower under this Note will be
given by delivering it or by mailing it by first clast mail to Borrower at the property address above or al a dilTerent
address if Borrower has given the Secretary a notice of Borrower's dilTerent address.
Any notice Ibat musl be given to the Secretary under Ihis Note will be given by first class maBlo the HUD Field Office

with jurisdiction over the Property or any other address designated by the Sccrelal}'.

10. OBLICATlONS OF PERSONS UNDER THIS NOTE

If more than one person signs this Note, each person is fully obligated to keep all of the promises made in this Note.

Lender may enforce its rights under Ihis Note only through sale ofthc Property.

11. RELATIONSHIP TO FIRST NOTE

(A) SecoDd Note

Because Borrower will be required to repay amounts which the Secrelal}' may make to or on behalf of Borrower

punuant to Section 2SS(i)(I)(A) of the National Housing Act and the Loan Agreement, the Secretary has required

Borrower to gnntthis Note to the Secretary.

(8) Relationship of Secretary Payments 10 Flnl Nole

Payments made by the Secretary shall be included in the debt due under this Note unless:

(i)

The F~rst Note is a5.1igncd to the Secretary; or

(ii)

The Secretary accepts reimbursements by the Lender for all payments made by the Secretary.

If the circumstances described in (i) or (ii) occur, then all payments made by the Secretary, including interest on the
payments, shall be included in the debt under the Fint Note.
(C) Notice of Interest Rate AdjustmeDts

Borrower agrees that as long as the holder of the First Note continues to make Loan AdvanCC$, any notice of interest
rale adjustment given to Borrower under Pangraph S(E) of the Fin! NOle shall also be considered to be notice to
Borrower under Pangraph SeE) of thiJ Note, 10 that the same interest rate shall apply for the Firsl Note and this Note.
BY SIGNING BELOW, Borrower accepts and agrees to the lenns and covenants contained in this Note.
Dated:

~~

Penelope M. ClUespie
Penelope M. GlIIe.plc, Tru,tee

Second NOlo

;2.<:XI8

NEIL J. GILLESPlEJRUSTEE

~~72<~
MaG\iieSPif.~,

ySBt{18w3-C)l. k.C{O'iCl 2 Vl)

Recording Requested by &
When Recorded Return To:
US Recordings, Inc.
2925 Country Drive Ste 201
St. Prul. MN 55117

FiLF it

This Quit-Claim Deed, Executed this day of

JIJIJ/ :
,2~~ between Penelope M. Gillespie,
Trustee of the Gillespie Family Living Trust Agreemen'
dated February 10, 1997,
Address: 8092 SW 115111 Loop, Ocala, FL 34481
Party of the First Part.
To:
Penelope M. Gillespie, Neil J. Gillespie and Mark Gillespie,
as Co-Trustees of the Gillespie Family Living Trust
Agreement dated February 10, 1997
Address: 8092 SW 115111 Loop, Ocala, FL 34481
Party of the Second Part
Witnessed, That the said first party, for and in consideration of the sum ofS 10.00
in hand paid by the said second party, the receipt whereof is hereby acknowledged, does hereby
remise, release and quit-claim unto the said second party forever, all the right, title, interest,
claim and demand which the said first party has in and to the following described lot, piece or
parcel ofIand, situate, lying and being in the County of MarioD State ofFlorida ,to wit:
LOT(S) 1, BLOCK G, OAK RUN WOODSIDE TRACT, ACCORDING TO THE PLAT.
THEREOF AS RECORDED IN PLAT BOOK 2 AT PAGE(S) 106 THROUGH 112,
INCLUSIVE, OF THE PUBLIC RECORDS OF MARION COUNTY, FLORIDA.
COUNTY OF MARION,
STATE OF FLORIDA

A.P.N. 7013007001
To Have and to Hold the same together with all and singular the appurtenances thereunto
belonging or bt anywise appertaining, and all the estate, right, title, intm:st, lien, equity and
claim whatsoever of the said first party, either in law or equity, to the only proper use, benefit
and behoofof the said second party forever.
In Witness Whereof, The said first party has signed and sealed these presents the day and year

:~eliv~in::~:'KWIATKOWSKI'

Witness Signature.

Witness print

Witness Signature

Witness print

/%-~ 11, ~~t2R-V'---

;;~JI,
STATE OF FLORIDA,

Penelope M. Gillesp~Oq'L

COUNTY OF 111f1l;~11

Sw I \b~ l.oof

O~\ FL ~YL-{B \

I HEREBY CERTIFY that on this day, before me, an officer duly authorized in the State

aforesaid and in the Co~ aforesaid to take acknowledgments, personally appeared

~6A'':6{JK Jt1. (j/4J.$1!fO me known to be the person described in or who identified himlherself
by means of Dt/J 16''< t / tJ. and who executed the foregoing instrument and acknowledged
before me that she executed the same.
WITNESS my hand and official seal in the County and State last aforesaid this day of
- ~ .... -220.n/

~, ~~~)
~~~_

/~
()

V.

(f

r "

Notary O\(~a\ "0 ........ T

Y'Wl A"T V?'\. _,tB~(I)
'F\ I ~"'" V
"
. \ ~ (.. I
This Instrument prepared by: Financial Title Company

"'~~:::.'~::;""

RICHARD T. KWIATKOWSKI
Notary Public - State of Florida
~~ .:;j My Comm~io.n Expires Aug 1, 2009
"'::'~OFF''i1;,~'"
CommISSIOn # 00413769
"""".,
Bonded By National Notary Assn.

('c>":

13

i:.'

FLORIDA DEPARTMENT OF REVENUE

RETl,IRN FOR TRANSFERS OF INTEREST IN REAL PROPERTY

11111111

(PLEASE READ INSTRUCTIONS BEFORE COMPLETING)

9..
mit

FDOR1024O:m
DR-219
R.07/98

[QjiTIkrn rn@Irn[jfZJThJe&J D[j'[~}f~r~~DD]

1. Parcel Identification Number

.:::::;-;:==:-::====.====:-==========o==:-::=======:::::::::

(If Parcel 10 not available

=~~~~~~rn~~~~~~~~mDODOOODDODODDDDD

Property was improved

with building(s) at time
of sale/lransfer?
-+

Transaction Is a spilt
or cutout from
another parcel? -+

2.
()

. veneLof(,

O
M.

Mailing Address

5. Date of SalelTransfer

Salerrransfer Price

QgI [l~/ oogo $O(b]IJblQOOOO [QJ[Q] r~~e7InI52D

0
G3"/ 0
D ~=nty rn~:dClaim
U 0 DO Ell Ei]BI~ (j] . IQ] lQJ
CO.

6. Type of Document

ContracVAgreement
for Deed

Other

YES

7. Are any mortgages on the property? If "Yes",

outstanding mortgage bal~:

(Round to the nearest dollar.)

8. To the best of your knowledge, were there unusual circumstances or conditions to the saleitransfer
such as: Forced sale by court order? Foreclosure pending? Distress Sale? 11tle defects? Corrective Deed? Mineral rights?
Sale of a partial or undivided interest? Related to seller by blood or marriage.

9. Was the sale!lransfer financed? YES

Conventional
10. Property Type:
Mark (x) all
that apply

O
Residential

0 / [;J.rqo
0

Seller Provided
Commercial

Induslrial

D D

NO

YES

D/ --

~
~

If Yes, please indicate type or types of financing:

Agreement or
Contract for Deed
Agricultural

Institutiona"
Miscellaneous

D D

11. To the best of your knOWledge, was personal property

YESD /
included in the sale/transfer? If "Yes", please state the
amount allributable to the personal property. (Round to the nearest dollar.)
12. Amount of Documentary Stamp Tax

[1No

Other

Government

Vacant

Acreage

Timeshare

D D

Cents

$DDDODDODD .[QJ[Q]
$DDDODDODD . rn~
YES [

13. If Il2J.SII1ls due in number 12, is deed exempt from Documentary Stamp Tax under s. 201.02(6), Florida Statutes?

1 [0'No

Under penalties or perjury, I declare that I have read the foregoing relum and that the facts slaled in II are true. If prepared by someone other
than the taxpayer, hlslher declaration Is based on all information of which he/her has any knowledge.

Signature of Grantor or Grantee or Agent::Y=

ALTER~

Dale

WARNING: FAILURE TO FILE THIS RtlURN OR

FORM APPROVED BY THE DEPARTMENT OF REVENUE SHALL RESULT IN A PENALTY OF $25.00 IN AOomON TO
OTHER PENALTY IMPOSED BY THE REVENUE LAW OF FLORIDA.

To be completed by the Clerk of the Circuit Court's Office

This copy to Property Appraiser

O. R. Book
and
Page Number
and
File Number
Date Recorded

DDDDD
DDDD
DDDDDDDDDDDDD
DD/DO/DOOO
Month

f7ij"~ .

Day

Year

This copy to Property Appraiser

Clerks Date Stamp

~Y

!R.111

FLORIDA DEPARTMENT OF REVENUE

RETURN FOR TRANSFERS OF INTEREST IN REAL PROPERTY1

(PLEASE READ INSTRUCTIONS BEFORE COMPLETING)

11111111

Enter numbers as shown below.

,D

Day

ContracVAgreement
for Deed

6. Type of Document
Warranty

Deed

(Round to the nearest dollar.)

Year

Other

~u/tClaim

O0

Property
Located In

0 Sa. County Cooe

7. Are any mortgages on the property? If "Yes",

outstanding mortgage balance:

(Round to the nearest dollar.)

YES

Was the sale/transfer financed?

Conventional

10. Properly Type:

Mark (x) all
that apply

tv1\io

YES

.00

Agreement or

Contract for Deed

Seller Provided
Residential

Commercial

Industrial

NO

YES

If "Yes', please Indicate type or types of financing:

Agricultural

11. To the best of your knowledge, was personal properly

YES
included In the sale/transfer? If "Yes". please state the
amount attributable to the personal property. (Round to the nearest dollar.)
12. Amount of Documentary Stamp Tax

Other

Institutional!
Miscellaneous

~O

Government

Vacant

Acreage

Timeshare

Cents

$
$

.00
0.00

;-=to
YE:

13. If ~ is due In number 12, Is deed exempt from Documentary Stamp Tax under s. 201.02(6}. Florida Statutes?

Deed

8. To the best of your knowledge. were there unusual circumstances or conditions to the sale!lransfer
such as: Forced sale by court order? Foreclosure pending? Distress Sale? lUle defects? Corrective Deed? Mineral rights?
Sale of a partial or undivided Interest? Related to seller by blood or marriage.
9.

0123456789

Month

R. 07/98

If typing. enter numbers as shown below.

OJ 23456789
I oOO,Ob ~

1. Parcelldenlificalion Number
(If Parcel ID not available

please call County Property

Appraiser's Office) -+

FDOR10240300
DR-219

NOv

Under penalties of perjury, I declare that I have read the foregoing retum and that the facts stated in It are true. If prepared by someone other

than the taxpayer, his/her declaralion is based on all information of which he/her has any knowledge.

Signature of Grantor or Grantee or Age

Date

WARNING: FAILURE TO FILE THIS RETURN OR TERNATIVE FORM APPROVED BY THE DEPARTMENT OF REVENUE SHAlL RESULT IN A PENALTY OF $25.00 IN AOOmON TO A!'fY
OTHER PENAlTY IMPOSED BY THE REVENUE V.W OF FLORIDA.

To be completed by the Clerk of the Circuit Court's Office

This copy to Department of Revenue
O. R. Book
and
Page Number
and
File Number
Date Recorded

DDDDD
DODD
DDDDODOOOOODO
DO/DO/DODD
Month

Dav

Year

This copy to Department of Revenue

Clerks Date Stamp

....

i
;1

~.

. . . . . . .

55

I'

Ilk

S"

, . '10

,'.'" I First American

('.of ...

Hasler

Title Insurance Company

04i05i20'!-j

Ut=t:Z:1-jt.;I:t
2605 Enterprise Road East, Suite 300

Clearwater, FL 33759

[f-t-

~~~~

~ ~:.:-

......

::::448 i +::::::;:::='"7

......

ZIP 33759
011010615309

~e Wlle,pJe-}
'? 09:;;.. 5 VII II 5th lool

{)Ut/~

--

~UU.44~

rL" 3'-1Lj~I

'IIII"/"/,/"I/,,i,, ,,1/ "Ii,,/,I"IJ"i,,,/ i, ill"/' il, ,/,1

u.s. Department of Housing

Certificate of
HECM Counseling

OMB Approval No. 2502-0524 (expires 9/30/2007)

and Urban Development

Office of Housing

Provision of this information is required to obtain benefits. HUD may not collect this information, and you are not required to complete this form, unless
the form has a currently valid OMS control number.
Privacy Act Notice: The U.S. Department of Housing and Urban Development, Federal Housing Administration, is authorized to solicit the
information requested in the form by virtue of Title 12, United States Code, Section 1701 et seq., and regulations promulgated at Title 12, Code of
Federal Regulations. While no assurance of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a
Freedom of Information Act request.

Homeowner(s) Name(s)

Penelope Gillespie and Neil Gillespie

Property Address City/State/Zip

8092 SW 115th Loop, Ocala, FL 34481

The U. S. Department of Housing and Urban Development (HUD) requires that homeowner(s) interested in pursuing a Home Equity

Conversion Mortgage (HECM) receive information about the implications of and alternatives to a reverse mortgage.

The HECM counselor must adhere to all of FHA's guidelines regarding information that must be provided to the potential

HECM mortgagor and must tailor the session to address the unique fmancial circumstances of the household being counseled.

COUNSELOR CERTIFICATION:

In accordance with Section 255 of the National Housing Act and 24CFR 206.41, I have discussed in detail the following

items with the above referenced homeowner(s):

1. Options other than a Home Equity Conversion Mortgage that are available to the homeowner(s), including other housing,

social service, health and fmancial options.

2. Other home equity conversion options that are or may become available to the homeowner(s), such as other reverse

mortgages, sale-leaseback fmancing, deferred payment loans, and property tax deferral.

3. The fmancial implications of entering into a Home Equity Conversion Mortgage.

4. A disclosure that a Home Equity Conversion Mortgage may have tax consequences, affect eligibility for assistance under

Federal and State programs, and have an impact on the estate and heirs of the homeowner(s).

5. Whether the homeowner has signed a contract or agreement with an estate planning service fmn that requires, or purports

to require, the mortgagor to pay a fee on or after closing that may exceed amounts permitted by the Secretary or in Part

206 of the HUD regulations at 24 CFR.

6. If such a contract has been signed, the extent to which services under the contract may not be needed or may be available

at nominal or no cost from other sources, including the mortgagee.

7. The Home Equity Conversion Mortgage will be due and payable when no remaining borrower lives in the mortgaged property, or
when any other covenants of the mortgage have been violated. (Borrowers are those parties who have signed the Note and
Mortgage or Deed of Trust.)
I hereby certify that the homeowner(s) listed above have received counseling according to the requirements
ofthis certificate and the standards of the U.S. Department of Housing and Urban Development, as described in
mortgagee letters, handbooks, regulations, and statute. This interview was held: [ ] Face-to-Face [X] Telephone and the
amount of time required to cover the above items was as follows:
60 minutes
Counselor's Name (Printed)

HUD-Approved Counseling Agency Name

Susan Gray

CCCS/MMI

Counselor Name (Signature and Date)

lAddress (City/State/Zip)

.f1tLoa/Fl
x

0A 0,4

~-dd-(Jg

5825 Phelan Blvd., Ste. #102, Beaumont, TX 77706

Telephone No

~gency

Employer I~ntification No

(409) 861-2275

54-1837741

HOMEOWNER CERTIFICATION:
I/we hereby certify that I/we have discussed the fmancial implications of and alternatives to a HECM with the above Counselor. I/we
understand the advantages and disadvantages of a HECM and each type of payment plan, as well as the costs of a HECM and when the
HECM will become due and payable. This information will enable me/us to make more informed decisions about whether I/we want to
proceed with obtaining a HECM.
Homeowner Signature and Date

Homeowner Signature and Date

(All homeowners shown on the deed must sign the mortgage and this counseling certificate.)
Date Counseling Completed: 4/22/2008
Certificate Expiration Date: 10/19/2008
(180 days from date HECM counseling completed.)

14

form HUD-92902 (9/2006)

u.s. Department of Housing

Certificate of
HECM Counseling

OMB Approval No. 2502-0524 (expires 9/30/2007)

and Urban Development

Office of Housing

Provision of this information is required to obtain benefits. HUD may not collect this information, and you are not required to complete this form, unless
the form has a currently valid OMS control number.
Privacy Act Notice: The U.S. Department of Housing and Urban Development, Federal Housing Administration, is authorized to solicit the
information requested in the form by virtue of Title 12, United States Code, Section 1701 et seq., and regulations promulgated at Title 12, Code of
Federal Regulations. While no assurance of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a
Freedom of Information Act request.

Homeowner(s) Narne(s)

Penelope Gillespie and Neil Gillespie

Property Address City/State/Zip

8092 SW 115th Loop, Ocala, FL 34481

The U. S. Department of Housing and Urban Development (HUD) requires that homeowner(s) interested in pursuing a Home Equity

Conversion Mortgage (HECM) receive infonnation about the implications of and alternatives to a reverse mortgage.

The HECM counselor must adhere to all of FHA's guidelines regarding infonnation that must be provided to the potential

HECM mortgagor and must tailor the session to address the unique fmancial circumstances of the household being counseled.

COUNSELOR CERTIFICATION:

In accordance with Section 255 of the National Housing Act and 24CFR 206.41, I have discussed in detail the following

items with the above referenced homeowner(s):

1. Options other than a Home Equity Conversion Mortgage that are available to the homeowner(s), including other housing,

social service, health and fmancial options.

2. Other home equity conversion options that are or may become available to the homeowner(s), such as other reverse

mortgages, sale-leaseback fmancing, deferred payment loans, and property tax deferral.

3. The fmancial implications of entering into a Home Equity Conversion Mortgage.

4. A disclosure that a Home Equity Conversion Mortgage may have tax consequences, affect eligibility for assistance under

Federal and State programs, and have an impact on the estate and heirs of the homeowner(s).

5. Whether the homeowner has signed a contract or agreement with an estate planning service fInn that requires, or purports

to require, the mortgagor to pay a fee on or after closing that may exceed amounts pennitted by the Secretary or in Part

206 of the HUD regulations at 24 CFR.

6. If such a contract has been signed, the extent to which services under the contract may not be needed or may be available

at nominal or no cost from other sources, including the mortgagee.

7. The Home Equity Conversion Mortgage will be due and payable when no remaining borrower lives in the mortgaged property, or
when any other covenants of the mortgage have been violated. (Borrowers are those parties who have signed the Note and
Mortgage or Deed of Trust.)
I hereby certify that the homeowner(s) listed above have received counseling according to the requirements
of this certificate and the standards of the U.S. Department of Housing and Urban Development, as described in
mortgagee letters, handbooks, regulations, and statute. This interview was held: [ ] Face-to-Face [X] Telephone and the
amount of time required to cover the above items was as follows:
60 minutes
Counselor's Narne (Printed)

HUD-Approved Counseling Agency Narne

Susan Gray

CCCSIMMI

Counselor Narne (Signature and Date)

~ddress (City/State/Zip)

Y~0~
x

'f-oJd-Og

5825 Phelan Blvd., Ste. #102, Beaumont, TX 77706

rrelephone No

lAgency Employer Identification No

(409) 861-2275

54-1837741

HOMEOWNER CERTIFICATION:
I/we hereby certify that I/we have discussed the financial implications of and alternatives to a HECM with the above Counselor. I/we
understand the advantages and disadvantages of a HECM and each type of payment plan, as well as the costs of a HECM and when the
HECM will become due and payable. This infonnation will enable me/us to make more infonned decisions about whether I/we want to
proceed with obtaining a HECM.
Homeowner Signature and Date

Homeowner Signature and Date

(All homeowners shown on the deed must sign the mortgage and this counseling certificate.)
Date Counseling Completed: 4/22/2008
Certificate Expiration Date: 10/19/2008
(180 days from date HECM counseling completed.)
form HUD-92902 (9/2006)

If you decide to proceed with a Reverse Mortgage, you will need

to give BOTH of these ORIGINAL CERTIFICATES to the

lender of your choice.

Reverse Mortgage Comparison - Selected Plans

From:
Susan Gray

CCCS/MMI

5825 Phelan Blvd., Ste. #102

Beaumont, TX 77706

Phone: (800) 873-2227

Estimates For:

Age

Penelope Gillespie and Neil Gillespie

8092 SW 115th Loop
Ocala, FL 34481

Information:

DOB

Nearest Age

Age

10/29/1930

78

77

Estimated Closing Date*: Jun-21, 2008

FHAlHUD
Monthly 150

FHAlHUD
Annual Adj.

Fannie Mae
Standard

Initial Interest Rate

Expected Interest Rate
Interest Rate Cap
Monthly Service Fee
Estimated Home Value
Lending Limit
Percentage
Creditline Growth Rate

3.17%

4.77%

6.25%

5.17A>
13.17A>

6.77%

6.25%

9.77%

18.25%

$35

$30

30

$140,000

$140,000

$140,000

$140,000

$140,000

$140,000

100.00A>

100.00A>

100.00%

3.670/0

5.27%

Principal Limit
Service Set-Aside
Available Principal Limit
Initial Mort. Ins. Prem.
Financed Origination Fee
Other Financed Costs
Net Principal Limit
Debt Payoff Advance
Tax & Ins. Set-Aside
Net Available to You
Cash Requested
Creditline Requested
Remaining Cash

$106,120.00

$93,240.00

$5,298.28

$3,970.57

$3,405.22

$100,821.72

$89,269.43

$61,892.18

$2,800.00

$2,800.00

$0.00

$2,800.00

$2,800.00

$2,800.00

$4,148.50

$4,148.50

$4,032.51

$91,073.22

$79,520.93

$55,059.67

$77,000.00

$77,000.00

$77,000.00

$0.00

$0.00

$0.00

$14,073.22

$2,520.93

($21,940.33)

$0.00

$0.00

($21,940.33)

$14,073.22

$2,520.93

$0.00

$0.00

$0.00

$0.00

or

or
Potential Tenure Payments
Financed Fees and Costs

Borrower Paid Costs

$65,297.40

or

$0.00

$0.00

$0.00

$9,748.50

$9,748.50

$6,832.51

$0.00

$0.00

$0.00

* The above numbers are calculated based upon the specified interest rates and the estimated closing date noted above. Changes in
interest rates and/or changes in actual closing dates may cause the amounts available to be higher or lower than stated.
Penelope Gillespie

Date

Neil Gillespie

Date

Printed by the Reverse Mortgage Analyzer""". Copyright 1999-2006 4/22108 864

14.1

111111111111111111111111111111111111111111111
* F F 900 2 4 *

FHA's Monthly Adjustable Home Equity Conversion Mortgage (HECM) Loan

Estimated Amortization Schedule for Penelope Gillespie and Neil Gillespie

Assumes an INITIAL Interest Rate of 3.1700/0 And Home Price Appreciation of 4%

Additional Assumptions:
Age of Youngest Borrower:
Initial Cash Withdrawal:
Lien Payoffs:

Financed Closing Costs:

Monthly Cash to Homeowner:
Monthly Servicing Fee:

77
$0.00
$77,000.00

$9,748.50
$0.00
$35.00

Notes: Actual interest charges and home value projections may vary from amounts shown and Loan Balance cannot exceed home value.
Cash To Homeowner includes monthly cash, creditline draws and any tax and insurance payments made from set-aside.
This amortization assumes a credit line draw of $14,073.22 taken at the beginning of year one.
Year

0
1
2

Available
Rate
Age (includes MIP) Creditline

77
78
79

Beginning
Balance

Creditline
Draws

Service
Fees

Accrued
MIP

Accrued
Interest

Beginning Loan Balance

Ending
Balance

Home
Value

Retained
Equity

$86,749

$140,000

$53,252

3.6700/0
3.6700/0

$0
$0

$86,749
$105,013

$14,073
$0

$420
$420

$514
$535

$3,258
$3,393

$105,013
$109,361

$145,600
$151,424

$40,587
$42,063

$0

$0

$420

$113,871

$0

$3,678
$3,829

$118,550

$0

$420
$420

$157,481
$163,780

$118,550

$557
$580
$604

$3,533

$0
$0

$109,361
$113,871

$14,073

3
4

80
81

82

3.6700/0
3.6700/0
3.670%

$170,331

6
7

83

3.6700/0

$0

$123,403

$0

$420

$629

$3,986

$123,403
$128,437

$43,610
$45,230
$46,928

$177,145

$48,707

84

3.6700/0

$0

$128,437

$0

$420

$654

$4,148

$133,660

$184,230

$50,571

8
9

85

3.6700/0

$0

$4,316

$52,523

$0

$708

$4,491

$139,077
$144,696

$191,600

$0

$420
$420

$681

$0

$144,696

$0

$420

$4,672

$150,525

11 - 12
13 - 14

89
91

3.6700/0

$150,525

$0

$840

$9,915

$162,844

$224,145

$61,301

3.6700/0

$0
$0

$737
$1,564

$199,264
$207,234

$54,568

10

3.6700/0
3.6700/0

$133,660
$139,077

$0

86
87

$162,844

$0

$840

$1,691

$242,435

93

3.6700/0

$0

$176,099

$0

$840

$1,829

$10,724
$11,595

$176,099

15 - 16

$190,363

$262,217

$66,335
$71,854

17 - 18
19 - 20

95
97

3.6700/0
3.6700/0

$0
$0

$190,363
$205,711

$0
$0

$840
$840

$1,977
$2,136

$12,532
$13,540

$205,711
$222,226

$283,614
$306,757

$77,903
$84,531

21 - 22

99

$222,226

$0

$840

$2,307

$14,624

$239,997

$331,789

$91,791

100

3.6700/0
3.670%

$0

23

$0

$239,997

$0

$420

$1,222

$7,744

$249,383

$345,060

$95,677

Penelope Gillespie

Date

Neil Gillespie

$56,709

Date

Printed by the Reverse Mortgage Analyzer. Copyright@ 1999-2006 4/22/08 864

14.2

111111111111111111111111111111111111111111111
*

005

15*

Important Information

about

HECM Counselors, Lenders, and .Loan Costs

The role of counselors in the I~ome Eq.uity Conversion Mortgage (.FlECM) progranl
is to discuss information with you that v~dl1 help you make your O\'vTI decisions about
th.ese loans and other alternatives.
H:ECM counselors do not pro.nlote, re.present, or reconlmend for or against any
specific lend.er. They do provide general info1111ation on 'factors you nlay \vant to
consider in selecting a lender. IfYOll ask, th.ese counselors will give you a copy ofth.e
lender list posted by the U. S. Department ofl-lousing and lJrban Development (lllJD)
at \\'wvl.hud.gov/II/code/llplcrit.html
lfECM counselors will tell you

\vhich costs are required in order to obtain a .HECM Joan,

an.d ''''hich are D.ot;
\vhich IfECM loan costs do not vary from lender to lend.er;
\vhich HECM loa.n costs nlay' vary 1iom lender to lender,

or m.ay be negotiable vvith a. lender; and

the maxin1um amount that HUD pemlits Jl.ECM. lenders

to charge for specific loan costs.

But they do n.ot provide any information. on the prices charged by any indi"idual
lender or loan o'llicer. l~he prices that a lender or loan officer charges one borro\tver at
one time nlay be different fronl ""hat they wou.ld charge a.nother borro\-ver or at a.nother
time. Len.ders and loan officers are the best source of information about the prices they
charge..
HECM counselors do not endorse any reverse nlortgage product or lender.
But t.hey \V'ant you to have the information you need to make an informed decision
about these loans and other, less costly a.ltenlatives.
The HECM. progra..m generally provides greater cash benefits and costs less
than other private sector reverse mortgages. But for SOUle cO.l1sumers, a different private
sector reverse 1110rtgage may provide greater cash benefits, although it generally costs
more. If you are considering a different .private sector reverse nlortgage, your counselor
is required to give you d.etailed. comparisons of the total costs and benefits of this loan
versus a Jf.ECM.

Your HECM counselor is required to discuss a.ll of the information on this page
with you. If you have any questions about this information, ask your I-IECM counselor.
This information was developed by the AARP Foundation's Reverse Mortgage Education
Project under a grant from the U. S. Department of Housing and Urban Development. Neither
AARP nor the N\RP Foundation endorses any specific reverse mortgage lender or product.
Revised August 2005 .. AARP Foundation ... 601 E Street NW, Washington DC 20049

Steps in the Reverse Mortgage Lending Process

A) APPLICATION
1) When you apply, you will be asked
to select a payment plan: a creditline,
monthly advances (term or tenure), or a
combination of a creditline and monthly
advances. You may also be asked to
select a monthly or annually adjustable
interest rate t and to decide if you want
your property taxes and homeowner
insurance paid directly by advances
from your loan. (Many lenders do not
ask you to make a.1I of these decisions
until later in the process.)

2) You will need to provide infonnation

required by the lender, including a photo
10, verification of your Social Security
number, a copy of the deed to your
home, information on any existing debt
(liens) on your home, and your coun
seling certificate. You will also be asked
to pay a loan application fee, which
covers the cost of a home appraisal
and a minimal credit check.

B) PROCESSING
I) Your lender orders an a.ppraisal, title search
and insurance, lien payoffs, and any other
services needed to cOffi.plete the loa.n. An
appraiser comes to your hoole to assess its
value and physical condition. If the appraiser
finds structural defects th.at require repair, to
be eligible for the loan, you must hire a
cont.ractor
to make the repairs.
2) Your lender submits all required
information to the lender's underwriting
department, which determines if
everything needed to close the loan
is correctly completed.

C) CLOSING
1) When your loan is approved by the under
writing department, a date for closing the
loan is set, and the final loan documents
are prepared. A closing is a meeting at
which you sign all the loan documents. It
is generally handled by the title company
or the lender. Some states require you to
retain an attorney to be present at closing.

2) After closing, you have 3 business days

in which to cancel the loan. When this
three-day "recission" period is over, loan
funds can be paid to you, and can be used
to payoff any existing debt on your home.
A new lien is placed on your home to
secure the reverse mortgage. Your loan is
then sent to the "servicing" department, or
to another company that specializes in
servicing reverse mortgages.

D) AFTER CLOSING
1) Unless you have arranged to have your
taxes and homeowner insurance paid
directly from your loan proceeds, you are
still responsible for making these pay
ments. If you do not, the lender can use
loan proceeds to make the payments or
if none remain - the lender can make the
entire loan due and payable.
2) The loan "servicer" sends you your loan
advances and periodic loan statements.
No repayment is due until the death or
permanent move from the home by the last
living borrower, the sale of t.he home, or any
thing else that results in the home no longer
being the principal residence of at least one
borrower. The repayment obligation cannot
be greater than the home's value at the time
the loan is repaid.

CONSUlv1ER
CREDIT
COUNSELING
SERVICES ..
A Division of Money Management Intern.tional

CLIENT ACTION PLAN

Budget Assessment Summary:

Surplus or (Deficit)

Indebtedness:

Causes:

Compare different kinds of Reverse Mortgage, you should weigh all your options carefully and
decide which one, if any best meets your needs
For more information, you may order a free copy AARP's Publication "home Made Money" by
phone: at 1-800-209-8085.
If you are seeking a reverse mortgage because of insufficient income, contact your local Area
Agency on Aging by call ing 1-800-677-1116 to check you are receiving the benefits to which you are
entitled
If you have access to the internet WWN.benefitscheckup.org is a quick, easy and confidential service
to identify benefits for which you may be eligible.
If you need to find a HUD-approved Lender, an up to date list is provided at HUD's website at
http://www.hud.gov/ll/codelllpicrit.htmi
MMI does not endorse any individual mortgage product or mortgage lender
Remember to maintain property tax payments and homeowner insurance.
Use our website www.moneymanagement.org as a resource for continuing help and education on
managing your money.
Use the paperwork provided
you need

to help decide whether a Reverse Mortgage will provide the income

Goals:

Options, including Client"s Chosen Options:

To learn more about reverse mortgages, request a free copy of the following
publications:
AARP's 52-page publication:
"Home Made Money"
1-800-209-8085
For information online:
www.aarp.org
Fannie Mae's 96-page booklet:

"Money From Home" (CT066L06/97)

Send your written request to:

Fannie Mae

3900 Wisconsin Avenue NW

Washington D.C.

20016-2899

For information online:

http://www.fanniemae.com/global/2QfL
homebuyers/moneyfromhome. pdf

Confirm that you are receiving all the benefits to which you are entitled
by contacting your local agency on aging. To locate your area agency
call the Elder Care Locator 1-800-677-1116 or online at the National
Counsel on the Agin9: www . benefitscheckup. org.

I':

....

," . .

l::
1
.r;
: :.t

','

t'

'.'

~
(

.
....

r .~

"

;;,

,I'

. ,

~ ~~ ,

:1 .

H.), \53t

P. 1

Certificate of

U.S. O.pettmtnt of Hou.lng

OM8 Approval No. ZSO:l-OS14 (.~pirIS 91.101UJ(1)
Ind Urban De~llopmlnt
om", or Houelng
Provtllon 0' t~" Informet~on Is requlrtd to oblaln ben,nll. Hue may not c:oU,ct 0111 Information, end you 8" nol requIred to c:.omplill lhls form, unlcn
0\0 'orm haa a cur'lnW vilid OMB ~VO' number,
Pr1vlcy Act NOltlse: The U.S. Oepattm.nt of HOUllng and VrtJ,n OIY.topmln" Ftderll Hou8lna Adm'nl11nlUon. II ,uthOf1lld to IOJJctt th,

HECM Counsefing

b1 virtue o'liUe12, Unltod Slatol CDdl, Section 1701 elleq., and regul.lions promulglled Illile 12. Code of
Federal Regulltlon,. While no atiuranCI 01 ~"fidenU.lltY II pltduet to '''Dond.nt., MUD gtne"ly dl,oIo." lhl' dltl onl7 In f.~lKIn.e to ,
Freedom 'n'CJrmIUon Acl reQu'll.

Info,mltion rSQuI.I.d In thl form

0'

Homeo\Vn~r{s)

RIomC(S)

Penelope Giliespio and Nell Gillespie

PtOJ)er1}' Address CitylSte'elZlp

8092 SW )15th Loop, Ocala, JL 34481

TIle U, S. Department ofHousJng and Urbl\D Development (HUD) require, that bomeowner(s) lu',rt,ted In pu"uinll Hom. Equity

Conversion Mortgage (HECM) receivo mfonnGtIon about the implications or end aUematlva. to revene mortg_gt.

The lmCM COUQle1or muat .ahero to III of FHA., &uldc11nea regarding Wormatlon thallnUSI be provided to tho potential

'ImCM mortl81or .nd must teitor the .euiol1lo Iddress cho uniquo fUlanci.1 oitcumstancol of tho hou,chold being counseled.

COUNSELOR CERTIFICATION:

In occordanco with Section 2" of tho Nldonal Hou,inc Aot and 24CfR. 206.41.1 have dl'~\lued In detaU cb, following

items with lho Ilbove rcCetCAced homeowner(I)~

,,Option. other than a Home Equity Convcralon lloITalgo that al'~ avalleb!c (0 the bOll1 cQ wncr(.). lru;ludlng other housinS.

social setVi~e. heal'" and finanoial option.

2. Oth.r home equity ,onvetslon option, that are or may become aYaH.ble to the bomeowner(s). Reb other reverso

I'

mortgages, sale-16Isebaok fmGncing. deferred payment loans, and property tax deferral

.3. 'f11&' financfal impUcat.ions of entering Inco 8 Home EqUity Conversion Mortallsc.

4, A discloNlc thet a Home EquitY Converrion MoltZ_Ie may have tax coouquencCJ t Ift'e~~ eligibility for ...t"ance under

Federal and State procram', md baY' an impa,t OD tho cstDto and heirs of the homcowner(.).
S. \Vhethor tho homeowner has ,Isned I co.nrraet or agreement wjth an estate planning sClVice nnn thll requires) or purports

to require,
0\011&'101 (0 PlY It f~ on or after closing that Ally exceed IUnounw permtned by tho Secrotary or in Put

206 oflho BUD TCguleriods 8r 24 CFP..

ti.1 f such a contra,t hIS been lip,d, th. ,~u.nl to which ,.rvicil u"d.r the contracl may 1101 bo nMded or OIly b. Iven,bIe

al nom1Dal or no ~Olt from other JourtlS, including the mort&l&cc.

1. The Home Equity Convenlon Mortgage will be due and payable when no remaining bonower lives in tho mortglged proport)', or
wben any other covenanr, of the mortgage have b~~n violated. (Borrowers 8tO those panies who hIve signed the Note and
MOr1il.e or DeDd ofTrust.)

me

I hereby certify that tho homeowftcr(l) Hned above hIve received couI'seJlng according 10 ~hc reqUVOD\ents
of thi' c.r1ifi~ate and the standard. ofth. U.S. Dopartment of Houain. end Urban DovoJopment, IS deacribad in
mortlagee iattlt.., handbooks, rCluJatiolll, and statute. Thilinterview was held: ( ] Facoto-Faco [X] Telephono and the
amount of time required to covet tho above items WI'S AS follows:
60 minutes
Counstl~n

Name (Prinlld)

Susan Grey

,HIJD .ApPIOvt4 CoullUn, Alcney Namt

CCCS/MMJ
~ddrtSt (Cily/S1Itcflip)

5825 Pbelan Blvd., Ste. #10~t Beaumonl, TX '7'0'

Telephone No

~&.noy

(409) 8612~75

154-1837141'

employer It'=nCiflC&\IOR No

HOl\1EOWNER CERTIFICA'tION:
I/we hereby cenlty that Uwe have discussed tbe financial implications of and alternatives to G HECM with the abovo COWlselor. IIwe
understand tbe advantages and dlsad vantage5 ora HECM tuld each type of payment plan, 1'1 well the 'OltS ofa HECM anel when tbe
HECM \l'iU become dU'lnd payablo.. Thli lnfonD"lo.a wUl eDlblo III TO mlko moro lntonned doot.lons about whether I/wo waDe to
proceed with obta!nJng. HBCM.
.'

ft'

0'1-

-o<i

(All homto~nou shown on the deed must "in the murl88ge Dnd this eoun,elinl' certificate.)
Dale Counseling Completed: 412212008
Certificoto Expiracion Date: 10/1912008
(110 dlys D'om dIce HBCM counseling complct~d.)
Ibnn HUD91901

(~I]006)

15

~:~

..: ~.

~.

" It

~~. :

~~

~~:~
.....
."',

;,e
.:~

'. ~
~
$

..

I,

'.

':
~~:~; ~

;!~~'~'J ~l:

. . .1

I.:

,,. .,':\

./

.~~~~'
.;e ~

:~~~
~t?<.
~'I'; ~

.~:.~ ,

~:~

~ .~

:~;~'f.

"

M~

~~J
.\'.',

~t} .\

r.~j y.

,.,
i.;,

"

2(:(13 9:59A'vt

f'A~

,TG,4GE

NQ. 1490

tI

I,

"

The Reverse Mortgdge Analyst

18.250%
$30.00

$125,000
$417.000
$125.000
$58,301
$3.406

554.896
$2,500

$3,419
$4~~917

S76.934
.($27,957.32)
$0'

SO

SO

so
+0.00
$0,00

PI;e 10f3

16

,: .

"

f..

(
~.

'

.,

3. 2(! I) 8 i 0:0(I AM

~h y.

PA~

~TGAGE

No. 1490

P. 10

The Reverse Mortgage Analyst

Penelope Gillespie: Phone 352~8S47807

, Loan' Amo.rtiiatlon= 'S~hedul~ .'. '~'.,

HECM Monthly eMT Reverse Mortgage

A5,umlng a 3.17"0 per ye.r In"uallnl,relt rate and 4.00% per y'.J future home Ippre~lltlon .

Unused

._ _.-....- Annual

.l\VJd3ble : Credltline
Cn,'ditlinr:

Draw~

4.4~6

83

7
8
9

84
85
86

5.552
5.759

5.97..

lJ

10
11

87'
88

12 89
13 90 I"
14
91
15 ',92 :
16
93:
. 17 94'
18 95
'9 96
20
97
21
~8"
22 99
23: :'100

Ser\licp
AdvJncl'~ Fce~

4,795
4,974
5,159

o
o

'0

5.352

.0

, o.

~I,622

6,197

6.428

G,668
6.917
7,)75

LU~II
Int +- MIP j BalJllc(l

Accrued

o
o

..0.:

.7,720
8.009
8.307

8,61S
8,939

,0 ..

9,273

o
o
o

o
0"

o
o

9.619

9,978

'.' .

0'

Value

EQllIty

116,250

30,497

120,900 '
125.736
130,765
135.996

31,580

141,436'"

.'36.468
37,841

o' :'.: 360".' :.. ' '6.17,7'"

o
o

o
...,0'.

V3Jue

o
o

.:.

:" 144~087 , .,298,134'

5,383
149,810
218,.60
360 ~.t' .. 5;598:,:' '. :1.55,768" . 225.11B,
360'
6,820"
161,948 '234,123
360:.1
6~~1: .. 168,358' . 24~,48a

360

147,093

152.977
159.096
165.460
172,078

360

6,290

175,006

6,~8"

18~,90~'

32,717

33.908 '
35,158

39,281'
40,790

42.373
44,031
178,962" ,:45,?69
186,'20
47,590
1931565' 49,498,
201.307
51:497

. '209.360,
217,734
226,443'
253.227
235 501
283.356'/ '.: 244,921,'
273,890
254,718
284;846 ',. 264,901:'
296,240
275,503

. ,53,592

:,?86.~~3.,

.~ 74,3~2

0'"

'360 '.'
360

.
Nc.t

125,000

3,207,
.8~.320
.139.~O
3,340
93.019
135.200
3.478' ,'. 96;857
:.' 140,608
360
3.621
100,839
146.232
3~O, .'
3t10. >104~968 '~52;082'
360
3,924
109.252
158,16S
360, 4,OlW'
113,696
164,491
360
4,250
118,306
171,071
360: '. 4,~22.. '123.087'
.177j914
360
4,600
128,048
'185,031
3~Ooo ,0 .~,785," ,133,193:.. .192;43t
360
4.9n
138.530
200,129

...... 0

N~t Home

Home

360
360"

o
o

t:nrt of Yo:tr ProJQctlons

360

'0

.0

7,443

10,3~0

85,753

71
78
79
80
81
82 '.

2
3

TotJ~s

Loan

6,796
189,052
o .. 360: .:. 7.063: .': , 196,484'
o
360
7,340
20~,184
:0>:'" :.3sq:':.:'::?:o~7;< ';:,.:212j171.. 3~.089,

55,786

. ,,58,085 .
60,493
'. 63j 015
65,656
': 68.423.
71,319

Be sure to review the Amortization Schedule Notes thai accompany this page,

Page 20t3

~:tl
t~ ~

"l~:

~:i~

it',
..~:.~

.~::~

t'1..: ~
~

"f,'

I:'.i-!

c.

~.:': J

!e
.
~~
~
}

~.

:'

t"

i.

l~: : :;

i~ri

~~,~ ~r
1

,I: ,

''':~
,~,(,

}) :
.~ !~'l

~~r: ~

~~i:::~'l ~

f'> ;.;..
. ~ ,t
~;

t'i

~:~ f

{tJ

~t~

;)

~1:

':-:'::. ~'.

"
".

"

~ ~.

~"':J
~;~

~A:. y.

;.,

"','"

r;iL
" ...,'

i~

2(:(IS 9:59AM

t
~;

~:

','

"

,',"
'(.

fAB

~ "GAG:

No, 1490

P.

The Reverse fV10rtgage Analyst

Pp.neJope Giltespre: Phone 35l-8S4-7807

Amortization Schedule.'Notes

'1

The emortizaUon $chtdule projects 8 single loan lnto the future based on the payment pfan and any line-oferecht draws 1hat you have
selected. The key assumptions In making the proJecUons are the rate at which YOUI home value would grow (its future appreciation rate).
(lrtd the Interest rate that would be charged on your loan,
~

J,

IJ,.
Bat

&

.I"
A

III

Year 0Is the "closing" date. when you sign the 108n documents 10 begin the loan.
Loan Advanees equals
total of all scheduled monthly payments 10 you each year if you selected
~ tenure or term pAyment plan,
Service Fees are tho annual total of all monthly servicing rees each yelr.
Accrued Interest + MIP equals 1he amount of Interest and mon1hly Mortgage Insurance Premium
added 10 your loan balance each year. interest is 86.38% of lhe amounts shown; MtP Is 13,62%.
Loan Balance includes cash to you olus ell loan cOils to dale.

tn,

Not Homo Va lUI Is your projected future home value less 7% in oslimated selling costs,
Your Net Eqully eQuaJ~ Nol Home ValUe minus Loan Balance, or the amcunl of equity Plat you or
your heirs would retain if tho loan were patd bad( at this time,
Note: The amount you would owe at any ~me is the Loan Balance OJ Net Home Valuo, whichever f.
leIS. If yovr Unused AvaUabie Credilline Is greater lhan your N" Horne Value, dt8\llit 811 betOte moving
from YOllr homo.

Page 30(3

.;.

~.

~:

May.

C, 2u t)3

:C:(Jl)AM

HGAGE

No, 1490

P,ll

Tile Reverse 1'/1ortgage f\nalyst

Penelope Gillespie: Phone 352-854-7801

.rotarAn~ualLoanCost'

~-~------------:...-_-----

LOAN TERMS:
Age of bOtTower:
Appraised property value:
Initial c"terest fale:

77
$125,000
3,170%

$0,00
$81,389.79

Initial draw:
Inltill I line of credit:

INITIAL LOAN CHARGES:

C'o,lng costs:

Mor1gage Insurance premium:

Annuity 0061:
MONTHL YLOAN CHARGES:
SeMclng fee:
Mortgage insurance:
OTHER CHARGES:
None
REPAYMENT LIMITS:
Net proceeds esUmated at 93%
of projected home sale.

S6,318,83
$2,500.00
None

$30.00
0.6% annually

Assumed

Annual
Apprecie-tion'
%
4%
8%

S,7T04
5,770,,,

Ths CO$t of any reV8r6B mortgage loan depends on how long you keep lhe loan and how much your home appreciates In value.
Generally, th~ longer you keep a reverse mortgage, Ihe lower the Total Annual Loan Cost Rate will be.
This table ~hOW$lne esllmated cost of your reverse mortgage loan. expre,sed IS an amuaJ rate. IIll1ustre1es the cost for four loan
tenns: 2years. half of Ufe oxpectancy for someone your age, thallife 8)(pectancy, and '.4 Umn thai Hre expectancy. The table arso
shows the cost of the loan '$sumlng the value of your home appreciates at three different rales: 0%. 4%, and 8%.
The Total An"IJ~lloan Cost Rates In thl:s table are bosed on the lotal charges associated ,lith this loan, These charges typically Include
princ;pal. Interest, closing costs, annuIty OO$ls. mol1g,ge insurance premiums, and aervicin9 ~ost, (but not disposition costs .. costs
when you sell the home).
The rates ir,1his table are estimates. Your actual cost may differ if, for examp1e. the amount of your loan advances varies or the Interest
rate on your rnortgage loan changes. You may receive projections of loan balance6 from counselors or lenders that are based on an
expected average mortgage rat8 that differs from Ihe inilial interest rate.

SIGNING AN APPLICATION OR RECEIVING THESE DISCLOSURES

DOES NOT REQUIRE YOU TO COMPLETE THIS LOAN

Page 50t e

' .("
:.1.:

~ .~~ ~

e.

:'._
.

r:,.)
..
1:~ }.
~

','":

.
~

~.

,i

No. 1490

\
~,

.
.

P. i2

]
Date Printed: Apr 26,2008
Current Note 1nlerest Rale: 3.170%
EsUmated Closlng Date: Jun 20.2008
Nearest Birthday Age: 78

1-year CMT Monthly - HECM Monthly CMT

Pro~rty

Value: S125,000.00

MaYlrnum Claim Amount S125,000.00

Applicant Penetop, Gillespie
Property:
8092 SW 115th Loop
Ocala, FL 34481

Phone: 352-8s.c.7807

The Information provided below reflects IsUmttltes of Ihe charges you are likely to Incur at the settlement or your loan. The fep,s listed ere
estimates the actual charges 'nay be more or less. Your transaC1lon may not Involve a fe' for e'lery item lI$led. The numbers rl$tttd
beside the esflmates generally correspond to the numbered Rne. Of sections contained In the HUO1 SttKement Statement which you
wilt receive at setllemenl. The HUe-, SetUement Statement will show you the actual cost fOf items pa!d at leltlement.

S01

Loan Origination Fee

803
804
806
808
809
902
1101
1t02

Appraisal Fee
Cledit Report Fe9
Attorney Trust Opinion
Repair Administration Fee
Flood Cenificadon F8e
.Mortgage Insul1,nee Premium
Escrow, Settlement or Cloeing Fee
Abstract or Tille Search

1105
1106
1108
1111

Dowment Preparation
Notery Fees
lUle Insurance
FL9 Endorsements
ALTA 8.16.2
Recording Fees
Clty/ColJnly Te)(/Stamps
State TaX/Stamps
Pest Inspection
Courier Fee
TOTAL SETnEMENT CHARGES

1112

1201
1202
1203
1302

1303
1400

$2,500.00
$350.00
$10.48
5200.00

$50.00
$14.00

$2.500.00
$450,00
$175.00

$50,00
$160.00
S856.00

585.60
$110.00
$171.50
$656.25

$375.00
$75,00

$30.00
$8,816.83

M'lliretlme annuity or oUler insurance product you may purchase is not arequired charge.

This Good Faith Estimate is NOT aloan commitment.

&
bt:-you4~:O~9Inf:? -~ ~

We hereby acknowledge receipt of thi$ dO\lmenl. Ihe allached IIsl of required providers 01 68rvtce, and acopy Of' When Your Home Is
On The Line: What You Shoijld Know About Home EQUity Un8$ of Credit.'
~

~:~~s~,(4 ~M'

Oat&

Park Avenue Bank

6375 SW State Road 200
Ot;ala. FL 34481

May 16,2008
Penelope Gillespie
8092 SW 115th Loop
Ocala, FL. 34481
RE:

Re-disclosed Calculations

Dear Mrs. Gillespie,

We have enclosed updated figures for your review. Please note they are for your
records and do not need to be returned to us.

If you have any questions or concerns, please contact Frank A. Castillo at Liberty
Reverse Mortgage 916-384-1274.

17

The Reverse Mortgage Analyst

Penelope Gillespie: Phone 352-854-7807

Loan Terms
PrOgram Description

HECM Monthly
CMT

1-year CMT Month/y i1-year CMT Annual

MontijlY
.,-.

Adjusting period
Interest rate index
Plus lender's margin
Plus mortgage insurance

H
K
ome eeper
Fannie Mae

Annual

Monthly

1.67%

2.830%

2.60%

3.400%

3.17%

4.27%

6.250%

. . . . ,1.67%
''\'1.5()%

Initial loan interest rate

HECM Annual
CMT

';'1

. Q.5O%

0.50%

Initial total loan rate

3~67%

4.77%

Initial credidine growth rate

3.73%

4.88%

Lifetime cap on loan rate

13.17%

9.27%

- > ~ :

6.250%
18.250%

HECM Expected Rate

5.17%

6.27%

Monthly Service Fee

$30.00

$30.00

$30.00

Value of the home

$132,000

$132,000

$132,000

Home value limit

$200,160

$200,160

$417,000

$132,000

$132,000

$132,000

$100,056

$92,664

$61,566

$4,541

$4,137

$3,405

$95,515

$88,527

$58,161

Loan origination fee

$2,640

$2,640

$2,640

Mortgage insurance

$2,640

$2,640

Other closing costs

$3,819

$3,819

$3,419

$86,416

$79,429

$52,102

$77,025

$77,025

$77,025

Lesser of limit or home value

Loan principal limit
Less Service fee set-aside
Available principal limit
Less Financed Items

Net Principal Limit

Less current debt payoff

($24,923.79)

Program is short by
$0

$0

$0

$9,390

$2,403

$0

Left for monthly advance

$0

$0

$0

Monthly Advance

$0

$0

$0

Less Lump-Sum Cash

Less Selected Creditline

No more lien payments

+0.00

+0.00

+0.00

Increase in monthly cash

$0.00

$0.00

$0.00

Monthly Term

Tenure

Tenure

Tenure

Total Fees & Costs

$9,099

$9,099

$6,059

The figures on this page are estimates only, and are based on a variety of assumptions that are subject to change. These estimates
are based on interest rates for the week of April 25th and program home value limits as of April 6, and the youngest borrower's birth date
being 10/29/1930.

Penelope Gillespie

Date

Page 1 of 5

The Reverse Mortgage Analyst

Penelope Gillespie: Phone 352-854-7807

Loan Amortization SChedule

HECM Monthly CMT Reverse Mortgage

Assuming a 3.17% per year annual interest rate and 4.00% per year future home appreciation.
End

Unused

of

Available

Creditline

Loan

Service

Accrued

Loan

Creditline

Draws

Advances

Fees

In1.+ MIP

Balance

Value

Value

Equity

3,221
3,354
3,493
3,637
3,786
3,941
4,101
4,268
4,440
4,619
4,805
4,998
5,198
5,406
5,621
5,844
6,076
6,316
6,565
6,823
7,091
7,370
7,658

86,124
89,705
93,419
97,272
101,269
105,414
109,715
114,176
118,804
123,604
128,583
133,749
139,107
144,665
150,430
156,411
162,615
169,051
175,726
182,651
189,834
197,286
205,015
213,034

132,000
137,280
142,771
148,482
154,421
160,598
167,022
173,703
180,651
187,877
195,392
203,208
211,336
219,790
228,581
237,725
247,234
257,123
267,408
278,104
289,228
300,797
312,829
325,342

122,760
127,670
132,777
138,088
143,612
149,356
155,331
161,544
168,006
174,726
181,715
188,983
196,543
204,404
212,581
221,084
229,927
239,124
248,689
258,637
268,982
279,742
290,931
302,568

36,636
37,966
39,358
40,816
42,343
43,942
45,616
47,368
49,202
51,122
53,131
55,235
57,436
59,740
62,150
64,673
67,312
70,074
72,963
75,986
79,148
82,456
85,916
89,535

Year Age

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

77
78
79
80
81
82
83
84
85
86
87

88
89
90
91
92
93
94
95
96
97
98
99
100

9,390
9,741
10,105
10,482
10,873
11,279
11,700
12,136
12,589
13,059
13,547
14,052
14,577
15,121
15,685
16,270
16,878
17,508
18,161
18,839
19,542
20,272
21,028
21,813

...... Annual Totals ......

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360
360

............ End of Year Projections ..............

Home

Net Home

Net

Be sure to review the Amortization Schedule Notes that accompany this page.

Page 2 of 5

The Reverse Mortgage Analyst

Penelope Gillespie: Phone 352854-7807

Amortization Schedule Notes

The amortization schedule projects a single loan into the future based on the payment plan and any line-of-credit draws that you have
selected. The key assumptions in making the projections are the rate at which your home value would grow (its future appreciation rate).
and the interest rate that would be charged on your loan.
Year 0 is the "closing" date. when you sign the loan documents to begin the loan.
Loan Advances equals the total of all scheduled monthly payments to you each year if you selected

a tenure or term payment plan.

Service Fees are the annual total of all monthly servicing fees each year.

Accrued Interest + MIP equals the amount of Interest and monthly Mortgage Insurance Premium

added to your loan balance each year. Interest is 86.38% of the amounts shown; MIP is 13.62%.

Loan Balance includes cash to you plus all loan costs to date.

Net Home Value is your projected future home value less 7% in estimated selling costs.

Your Net Equity equals Net Home Value minus Loan Balance. or the amount of equity that you or

your heirs would retain if the home was sold and the loan paid back.

Note: The amount you would owe at any time is the Loan Balance or Net Home Value. whichever is

less. If your Unused Available Creditline is greater than your Net Home Value. draw it all before moving

from your horne.

Penelope Gillespie
Date

Page 30f5

The Reverse Mortgage Analyst

Penelope Gillespie: Phone 352-854-7807

Total Annual Loan Cost

LOAN TERMS:
Age of borrower:
Appraised property value:
Initial interest rate:

Initial draw:
Initial line of credit:

77
$132,000
3.170%

$77,025.34
$9,390.45

Assumed
Annual
Appreciation
0%
4%
8%

INITIAL LOAN CHARGES:

Closing costs:
Mortgage insurance premium:
Annuity cost:
MONTHL YLOAN CHARGES:
Servicing fee:
Mortgage insurance:
OTHER CHARGES:
None
REPAYMENT LIMITS:
Net proceeds estimated at 93%
of projected home sale.

Total Annual Loan Cost Rate

Disclosure Periods
2-year
5-year
10-year
loan term
loan term
loan term
9.77%
6.33%
4.15%
9.77%
6.33%
5.18%
9.77%
6.33%
5.18%

$6,458.83
$2,640.00
None
$30.00
0.5% annually

14-year
loan term
2.95%
4.84%
4.84%

The cost of any reverse mortgage loan depends on how long you keep the loan and how much your home appreciates in value.
Generally, the longer you keep a reverse mortgage, the lower the Total Annual Loan Cost Rate will be.
This table shows the estimated cost of your reverse mortgage loan, expressed as an annual rate. It illustrates the cost for four loan
terms: 2 years, half of life expectancy for someone your age, that life expectancy, and 1.4 times that life expectancy. The table also
shows the cost of the loan assuming the value of your home appreciates at three different rates: 0%, 4%, and 8%.
The Total Annual Loan Cost Rates in this table are based on the total charges associated with this loan. These charges typically include
principal, interest, closing costs, annuity costs, mortgage insurance premiums, and servicing costs (but not disposition costs - costs
when you sell the home).
The rates in this table are estimates. Your actual cost may differ if, for example, the amount of your loan advances varies or the interest
rate on your mortgage loan changes. You may receive projections of loan balances from counselors or lenders that are based on an
expected average mortgage rate that differs from the initial interest rate.

SIGNING AN APPLICATION OR RECEIVING THESE DISCLOSURES

DOES NOT REQUIRE YOU TO COMPLETE THIS LOAN

Penelope Gillespie

Date

Page 4 of5

Good Faith Estimate

1-year CMT Monthly - HECM Monthly CMT

Property Value: $132,000.00
Maximum Claim Amount: $132,000.00
Applicant: Penelope Gillespie
Property:
8092 SW 115th Loop
Ocala, FL 34481

Date Printed: May 16,2008

Current Note Interest Rate: 3.170%
Estimated Closing Date: Jun 20,2008
Nearest Birthday Age: 78
Phone: 352-854-7807

The information provided below reflects estimates of the charges you are likely to incur at the settlement of your loan. The fees listed are
estimates - the actual charges may be more or less. Your transaction may not involve a fee for every item listed. The numbers listed
beside the estimates generally correspond to the numbered lines or sections contained in the HUD-1 Settlement Statement which you
will receive at settlement. The HUD-1 Settlement Statement will show you the actual cost for items paid at settlement.
801
803
804
806
808
809
902
1101
1102
1105
1106
1108
1111
1112
1201
1202
1203
1302
1303
1400

Loan Origination Fee

Appraisal Fee
Credit Report Fee
Attorney Trust Opinion
Repair Administration Fee
Flood Certification Fee
Mortgage Insurance Premium
Escrow, Settlement or Closing Fee
Abstract or Title Search
Document Preparation
Notary Fees
Title Insurance
FL9 Endorsements
ALTA 8.1-6.2
Recording Fees
City/County Tax/Stamps
State Tax/Stamps
Pest Inspection
Courier Fee
TOTAL SETILEMENT CHARGES

$2,640.00
$350.00
$10.48
$200.00
$50.00
$14.00
$2,640.00
$450.00
$175.00
$50.00
$160.00
$856.00
$85.60
$110.00
$171.50
$656.25
$375.00
$75.00
$30.00
$9,098.83

Any lifetime annuity or other insurance product you may purchase is not a required charge.

This Good Faith Estimate is NOT a loan commitment.

We hereby acknowledge receipt of this document, the attached list of required providers of service, and a copy of" When Your Home Is
On The Line: What You Should Know About Home Equity Lines of Credit."

Penelope Gillespie

Date

Date

Liz Baize, Originator

Park Avenue Bank
8375 SW State Road 200
Ocala, FL 34481

Page 5 of 5

..

.'

--

~ ... _ - _ . ,

-~-_~~._~ ~

.,...~~~-~~_.~

-_.

_-~

4-~~POs~

LIBERTY

:~~-'~..-.
-

--Reverse Mortgage-

3100 Zinfandel Drive, Suite 300

Rancho Cordova, California 95670

-
..

PITNEY BOWEB

$ 000.59

02 1P
0003867653 MAY 21 2008
. MAILED FROM ZIP CODE 95670

Pene/cpe bll!e5pie

f!o:I~ 5W //G:fD Lap.

Oca~ Ft. B44 g/

- - '~. 3'+ $J'S t$:%;i=.& 7' RCi4E:ill/llllll/,'II1I1',".III1I1I1/, I" 1111111/ 1/ ,I 11111 ,JIll' ,I
i

So

,
&

Penefope G1IJespfe: Phone 352-85+7807

Date

Page 1of5

18

I.

Penelope GillespIe: Phone 352-854-7807

HECM Monthly eMT Revers. Mortgage

Assuming a 3.66% per ye.r annu.llnl.....t rate .nd 4.00% per year futu... hom. apprecJatlon.

End": .."

Unused'

I : :

AnnuQ.1 Totals

End of Year Projections .........:.:.

.' Home Net Home Net'

,~BJllltlCe
Val'ue
VJlue - Equity'

~'of :" ... Available Crcditline Loan Service Accrued Accrued '. Loan
1

YcarAgelCreditljn~ , DrJ.~JS"
o 77 0

AdvJnccs Fees' Interest MIP

2.640
95,653
132.000 36.347 27,107
.
.'
,
.
, ..... , .
.
.
.'
1. 78' "., .,o.~; ..' .~,'.\,O .~ ..,,:'~' ;i;O.. ,;~~-:~: . 3.~)~.~~3;575.~~{~oo}~ ~~~~~'.o;~(r'l1al1280J~~.:127;&70~ ,.;. 27.,594'
2 79 ". 0 '. t ... 0 '.' . . ~O~: .
~
J
"1'42,771~" 13iri7" .28,090
104
6ik~~'

,,~~

;"360 "'3;740' .511"

'r

f'

~'M~~"

,687 '.

3 '. 80 . ,:',.,:0,:" :.: ':. :/.0 c':", :~/.'.:. 0;.~;:;~~i~~;~~{~:~~~'2:;~~;g~i~~,,~i :S~~.O.9jl~3;":.~;:;;.~:~~.A~j\~.'.~~:/7~28,596.

4 .81
0
".., rj , '.' 0" " ! ' . 360 ~4.091 ~ '559" " '. 114.502' . "154.421' "143,612' ':29,109'

.~'. ',:,,:~~~: ':~t:~.~~~\~t :~~:~y~~~~~;~~;:~~*{~\(i~9$~~~~~~~~~ ;l~~'l1~r'A:~~~~~~~~~ti-::~~~;;~t~t::.

6 83

360

4,473' 811

125,168

167,022

155,331

30,163

'T;f.~/ >~;~O',{::~!~' .:\:!~.~.;~:;~:~::.:I~O~~~~~i~.:/;~4~W~,~~J~~;.;{(~ ~~~~?~~~~~~;7,-91~}{,1~.'~~:~:;;~~Q~7Qf~:

8 85 "0 ~~ . 0 "'0 "360~'41887'-" '663'~ '1'36.757 .~lt180:65t .. ~168.006 '''31~48

9' '''86
10 87
11 '88
12 89
13 .' 9Q
14 91
15:.. 92
16 93
.17..... ~,

...

:.:~ . ~O ..:l~~~:' \j.O::~::~'.> .:~;'~~;?}~~~~:~~::,:l~~,~:~::;~:~~~.~~,~.~~ ~i~142.~~; ~f:~.~,p~,877:;~~ . 17;4;726"::.":~.31,803

0
0
0
360
5,338
729 149,350
195.392 181,715 32,364
.: 0 '.' .'. 0 ..~. "0 :-::""360;~ "5,578?J:::162Y;; ~.~561050:.:':"'.203,208 . ,188;983 . 32;933
0 .
0
0
360
5.828 . 796
'163,034
211,338 196.543 33,509
,..~.1:0:~>~. :?:I.~;O.(r:: :~.. ;' :~.:"::~.:1~~:~.~r:~~~,~~I!~~:~i~~~~~J ';j.~'7:~.3~.~::=~2}~i7.90.:!:.:.,20:4.404,; 34.090
0
0
0
360
6,360 . 869
177.903
228,581 212,581 34,678

:L.;.,~q:~ :~~:: . fr:,~~;~t<:~:~.:::~~:~tr~,:i!i;~~~i~~;~~~t)?i.~t:l~ ~~~~~~~'3,t~~:~r~~;~~:;'~1,O~~f:;:~35,~71 .

0
0
. 0
360
6,938
948
194.059
247,234 229.927 35,868
E:'; Q;~.:.{j ';r.:.t(O: ;.:~:';:J~~'.~;:Q.'~\ ~:;;!~i~~60.~:~::~~,2~.~~.99.Q ~1' ~ ~J,~~~~.~~51i1~.l:'j~~~~4~,:~r3,6,~7Q. '.
18" 95' .'. 0"'" . 0" . ~ . o~ .... 360' '.. 7:568" \ 1,034 . . 211,'614 .' 267.408" "'248.689" 37,075'

: ~9' ~ :!~~. ~~1:~(~\?~:t lt~f.~:~.:; :~~lt;: ~:~tf.li@69~re~~t%,~!!q~~~ ~~i~.~r;t~t~~:~~~~:j~i.~7;;:(~M~37.682 .

20 97
0
0
0
380
8.249
1,127
230.890
289.228 268,982 38,292
2.1 ...98. :.. '.0:: ,'. :,:'~.. ~;: ..:';'~.~~~ O:~~/..i'~:{;:~;~J~~~~~1.;1l?~~~:~~;~::.:~~qO,~l~;.~~.:~~~742;;:\~~;~ ..

22 99

360

8,991

1.228

251.418

312,829

290,931

39,513

23 .. 100 ~,": .o...., ~:'~ . .'.~.'.': :~::f.~,~;~:~~f~:~~~~~,;~~~.~~~~:~~~!~;~~ ~~~!~~;:?/~~~2i~(~'~ ;:'.i ' 40,.12~ .

Be sure to review the Amortization Schedule Notes that accompany this page.

Page 2of5

Penelope GlRespie: Phone 352-85+7807

The amortlzation schedule projects a single loan Into the future based on the payment plan and any Iln.okredJI draws that you have
selected. The key assumptions In making the projections 818 the rate at whim your home value would grow (Its future appredaUon rate),
and the Intere&t rate that would be charged on your loan.

a.

Year 0Is the ~oslng- date, when you 81gn the loan documents to begin the loan.

,.

Loan Advances equals the total of aU scheduled monthly payments to you each year if you selected B tenure or

term payment plan.

,.

Service Fees are the annual total of all monthly servIdng feea each year.

JJt
It

a.
,.

Accrued Inte~ equals the amount of Interest added to your loan balance each year.
Accrued MIP equaJs the amount of monthly Mortgage Insurance Premium added to your loan bafance each year.
Initial Upfront MIP Is shown in the Year 0 row.
Loan Balance Includes cash to you plus WI loan costs to date.

Home Value equals the future value of yoor home If it appreciates at 4.00% per year.

II

Net Home Value Is your projected future home valueless 7% In eaUmated selOng costs.

"

Net Equity equals Net Horne Value minus Loan Balance. or the amount of equIty that you would retain If the horns

were sold to repay the loan at IhJs time.

Note: The approximate amount you wouJd owe upon sale of the home is the Loan BaJanoe or Net Home Value.
whichever is lesa. If your Unused Available creditDne Is greater Ihan your Net Home ValUe. dnsw It eU before sellfng
your home.

S.

Page 30f5

Penelope GIUespIe: Phone 352-854-7807

LOAN TERMS:
Age of borrower:
Appraised property value:
InlUallnterest rate:

InlUal draw:
lniliailine of avdit:

INITIAL LOAN CHARGES:

Closing costs:

77

$6 539.44
t

$132,000
3.660%

$86,474.02
$0.00

Mortgage Insuranc;e premium:

Annuity cost:
MON7HL YLOAN CHARGES:
seMclng fee:
Mortgage Insurance:
OTHER CHARGES:
None
REPAYMENT UMITS:
Net proceeds estimated at 93%
of projected home sale.

$2,640.00
None

$30.00
0.5% annually

The cost of any reverse mortgage Joan depends on how long you keep the loan end how much your home appreciates In value.
Generally, the longer you keep a reverse mortgage, the lower Ihe Total Annual Loan Cost Rate wiD be.
Th's table shows the estimated cost of your revel'H mortgage loan, expressed 8S en annual rate. It Illustrates the cost for four loan
terms: 2 years, half of life expectancy for someone your age. that Ife upectancy, and 1.4 tlmes that life expectancy. The table also
shows the cost of the loan assuming the value of your home apprecJatea at three different rates: 0%, 4%, end 8%.

The Total Annual loan Cost Rates In this table are b8$8d on the totaJ charges asociated with thIs loan. These ~rges typically incfude
prfndpaJ, Interest. dosing costs. annurty costs, mortgage Insurance premiums. and servicing costs (but not dlsposlflon costs costs
when you sell the home).
The rates in this table are estimates. Your actual cost may differ If, for exampJe, the amount of your loan advances varies or the Interest
rate on your mortgage loan changes. You may receive projections of loan balances from counseJors or lend.. that are based on an
expected average mortgage rate that differs from the initial Interest rate.
.

SIGNING AN APPLICATION OR RECEIVING THESE DISCLOSURES

DOES NOT REQUIRE YOU TO COMPLETE THIS LOAN

Date

Page4of5

Penelope GlUespIe: Phone 352-85+7807

The fil'$t box below Is asimulation of the FHA HECM software's Print Saeen. HUD software does not aHow for M1P paid In cash, so

we net any cash MfP portion agalnat Other Ooslng Costs. If the result Is 8 negative number, the word ERROR will appear In the table
where FINANCED usually appears.

2:55:51 PM

Federal Hous(ng AdmInistration

03 Jun 2008

Hom. Equity Conv....lon Mortgage Insurance (HECM) V1.2

Borrower NamelCase Number.

Refinance: No

Penelope M. GIDeaple

Date of CJosing MMIDOIYYYY:

Borrower's Bir1h Date MMlDDIYYYY:
Expected Interest Rate:
Property Appraised Value:
Maximum Claim Amount:
Prlnclpaf Urnrl Factor:
Prlncfpal Umit:
Upfront Premium:
Other Closing Costs:
InJtiaI Advance:
MonthJy Servicing Fee:
Net Principal Umft
Une of Credit + Repairs + 1st.yr Exp.:
Monthly Payment

length of Term:
Nded for T LC C.,leu atlon:
IniUallnterest Rate:
Cash Closing Costs:
Line of Credit Includ:
Actual Une of Credit
Repair Set-aside
FirstYear Expense Set-aside
TotallJne or CredIt above
Inltlar Advance above Include.:
Upfront Cash to Borrower
cash for Financed Uena / Disbursementa
Other Amounts Paid on Behalf of Borrower

TotallnltJaJ Advance above

Deposit Returned to Borrower

Variables

Calculated

06lO5l2OO8
10J291193O
5.530
$132,000.00
$132,000.00

0610512008

FINANCED
$6.539.44
$88.474.02
$30.00

CAlCUlATE
$0.00
TENURE

AtJe: 78
5.530%

$132,000.00
$132,000.00
0.758
5100,056.00
$2,640.00
$6,539.44
$86,474.02
$4.402.54
$0.00
$0.00
$0.00

TENURE

3.660%

SO.OO

HUD..1 Une 207

$0.00
$0.00
$0.00

HUD-1 Unas 903-904

$b.00
$9,420.93

$n,053.09
$0.00

HUO1 Line 205

HUD-1 Unes 21Q.215
BUD-1 lines 208209

$86,474.02
$0.00

HUD-1line 216

Date

Peve Sof5

FINANCIAL

TITLE COMPANY

June 18,2008

Penelope M. Gillespie
Neil J. Gillespie
8092 SW 115Th Loop
Ocala, FL 34481
Escrow No.:
Property Address:

42613725-823-MFP
8092 SW 115Th Loop
Ocala, FL 34481

Dear Mrs. Gillespie,

Weare pleased to inform you that the above referenced escrow transaction has been closed.
following documentation has been provided for your disposition.

Refund Check - WIRED

Final Closing Statement and/or HUD-l

The

Any recorded documents to which you may be entitled will be mailed to you directly from the County
Recorder's Office, under separate cover.

It is the intention of Financial Title Company to record a Release of Obligation as provided by law.
If, in the future, you sell or obtain a loan on this property, please ask your broker or agent to contact your
team at Financial Title Company regarding our short term rates, and other services available for you.
We cannot close this letter without expressing our sincere appreciation for your business.
Thank you,
Financial Title Company

Fatima Pacheco
Escrow Officer
Enclosures

81 Blue Ravine Rd. # 220

Folsom, CA 95630 (9 J 6) 35 I-291 0 Fax (916) 353-5070

19

FINANCIAL TITLE COMPANY

42613725-823 MFP
OS/29/2008

Buyer/Borrower: Penelope M. Gillespie

Neit J. Gillespie
Mark Gillespie

06/18/2008
8092 SW 115Th Loop

Property:

Ocala, FL 34481

D-;blt'------r--

I-----------------.-~~--c--:----D;;~-rip-t-i-on~----~-----------------------~~--

NEW AND EXISTING ENCUMBRANCES:

Refinance from Liberty Reverse Mortgage, Inc.
NEW LOAN CHARGES:
Loan Origination Fee at 2.0% to Park Avenue Bank
Appraisal Fee to McCalip&Morales Appraisal Serv
Credit Report to Park Ave. BanklKroll
Doc Preparation Fee to Bay Docs, Inc.
Flood Cert Fee to Park Ave. BanklKroll
MIP to Liberty Reverse Mortgage, Inc.
Broker Fee to Park Avenue Bank
Correspondent Fee to Park Avenue Bank
Fee to Servicing Company to Liberty Reverse Mortgage, Inc.
Correspondent fee from LRM to Park Avenue Bank
PAYOFFS:
Payoff to SUllTrust Mortgage
$46,555.11 Principal Balance
$33.16 Interest From 06/16/2008 to 06/20/2008
$124.36 Interest to 6-16-08

$10.00 Recording Fee

$40.00 Fax Fee

Payoff to SunTrust Bank

$29,553.64 Principal Balance

$127.17 Interest to 6-12-08

$341.60 Closing Costs

$20.00 Fax Fee

$20.00 Release Fee

$40.00 Additional Int'l

ADDITIONAL CHARGES:
Homeowner's Insurance to Insurance Market Place
Signing/Notary Fee to Richard Kwiatkowski
Signing Fee - Texas to Notary Central
ESCROW CHARGES:
Escrow Fee to Financial Title Company
Document Preparation to Financial Title Company
TITLE CHARGES / MISC ESCROW CHARGES:
Lenders Policy $132,000.00 to Financial Title Company
Abstract/Title Search to Financial Title Company
Endorsement-5.1/8.1/6.2/FA56 to Financial Title Company
Endorsement-Alta 9 to Financial Title Company
Shipping Charges to Financial Title Company
MISCELLANEOUS CHARGES:
Recording Fees to Financial Title Company
State Tax Stamps to Financial Title Company

Credit

$95,653.46
2,640.00
250.00
10.24
100.00
12.00
2,640.00
(Buyer POC $358.43)
(Buyer POC $250.00)
(Buyer POC $395.00)
($213.70)

$46,762.63

$30,102.41

(Buyer POC $698.00)

175.00
150.00
484.00
50.00
735.00
175.00
100.00
73.50
40.00
295.00

______ .~_,_~~_?~_1P _ ..
85,884.48

Sub Totals

95,653.46

9,768.98

Refund Due Buyer/Borrower

__.__.. _~~_,~}.~~

Totals

. - - - - - - - - - - - - - - - - _ . __.--_._-_._--------------_._-._---.-.--------------_._-----------

~Q'\

(l,\1 4fl

--_.-._----_ .. _._ .. -_._-

Printed by Leanette Adorkor on 06/18/2008 at II :57:48AM

-_

_._---_.

__

_._--_._----_

_------------,

---------

A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

1.

SETTLEMENT STATEMENT

4.

Financial Title Company

81 Blue Ravine Rd. # 220
Folsom, CA 95630

-.----_.._--_._.

B. TYPE 9_L_9~~____

II
D

FHA

2.

FMHA

VA

5.

CONV. INS.

OMB No. 2502-0265

3. . [ } - ~~~~.--~~I~~.

t - - - = ' - - - - - - - - - - - = = = - - - - - . -..--.-------.-.----

6. ESCROW FILE NUMBER:

42613725-823 MFP

7. LOAN NUMBER:

..

...

3.9.JQQ

8. MORTGAGE INSURANCE CASE NUMBER:

091-4405741/952-255

FINAL

C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown.
__lt~fTl.~ ,!,~rked "(P._~.~)" were paid '!!!.t~i~~_!~! closing; they are shown_~~~r !nfonnational purposes and are not included in th!.t?~ __ . _..
D. NAME OF BORROWER:

Penelope M. Gillespie and Neil J. Gillespie, Mark Gillespie

ADDRESS OF BORROWER:

_____..

8092 SW 115Th Loop

_ _ Oca-'~,FL 34481

E. NAME OF SELLER:

ADDRESS OF SELLER:

- - - - - - - - - - - - - - - - - - - -.............

F. NAME OF LENDER:

Liberty Reverse Mortgage, Inc.

10951 White Rock Road S. 200,

Rancho Cordova, Ca 95670

G. PROPERTy'LoCATION: ----'---"-8092 SW"1 fSTh Loop

Ocala, FL 34481

Marion 7013007001

ADDRESS OF LENDER:

H. SETTLEMENT AGENT:
PLACE OF SETTLEMENT:
I. SETTLEMENT-DATE:"''''' ..

Financial Title Company

81 Blue Ravine Rd. # 220, Folsom, CA 95630

-------05/29/2008

400. Gross Amount Due To Seller:

101. Contract Sales Price

102~-Personal PropertY .. ------------------------r---

:~~:~~~:;~~~:;z~r~~:;~~~El1-40--0L--10S:- Payoff to SunTrust Bank--------'---Adjustments For Items-Paid By Seller In-Advance:

106.-c-ityfTown Taxes---.. ---------..

1-401. Contract Sales Price

402. Perso~I~~~perty

30,102.41

__

410.
--.- - - - . - - 411-.-

-----.--------..------_ ...

114.
. ...
115.
._.__ .______
120. Gross Amount Due from borrower:

...._.

._.....__

._ .. _.. __.__ 4_1_2_.

413.

--

_-_._-~

..._

- -------..-.

--------------------

_--t-_4_14_.
..._.
.
41_5_.
..
420. Gross Amount Due to Seller

~.~~:Arr.-o~nts-paid~nj)eilajfofBo~-..

..

~9_~

_...

---- .._._--_.-------_.-.-_.." - - - - - _ .. -..... _ - - - - _ .. _----

112.
113.

..

405.
Adjustments For Items Paid By Seller In Advance:
406. CityfToWn Taxes
. '-'---''''.. _-.-- .

407. County Taxes

. . _._.t---4_0_8._As_s_es_s_m_e_n_ts

. . __..

.....

...._._ ...... _._.

4~)~~~-.+-:-~-3-:---------.-----...----.-.. -..--.. -.. ----.------

-====----=-=:======--___
0

.__._ ..
. . _.

0.00

SOO. RedLic:tlonsIn ArilountDue ToSeller:

201. Deposit or earnest money

2-{)2~'PrinciPalamc)untof newk>an(sT----.. .- - - - - - - ParkAvenueBank-------- ...

_.. _._~~,653~4if

501. Excess depos~!_J~~~_i!l~.~~~~.~.~_s) ._. _..

5~:...~~tt1ement charges to Seller (line 1400)

0.00

?_03~~~~i~0.~J?~_ij(S)t~~~_~ubiecit~==---===-. __.
-----204.
205.
......-.---.-...- - - . - - - - . - -..- - - 206. _ _._-_ ---------- -.------- --------- - - - -.. ----.---

503. Existing loan(s"ftake'nsubjectiO- -........ _--.. . .

504. Payoff of first mortgage loan

"505. Payoff of second mortga-ge-Ioan- ...... --.--- ..-._ .."

207. ----.- - -----.-.--.- - - - -.-..- - -..- ------------ ------.-

507.
508.

. -.------.._-.-. - - - - -..------.-----.--209. ------- . ----- - - - - -.---.......

-----

208~----

2i1~~~~unty ~~~.e~-=-=~-_:.~-~~==~~:==_____=_._
_._---_ ... _.-----_

214.

215~--

21'6~--

- . - - - - - _....

.. -- _

_- ..... _ - - - - - _ _ - . _ - - - - - - - - -

..

_~_

_ .

.....

._ .

__

._._ _ 0

- - - . - - - -

- - - - - - - - - - - - - - - - - - - - - - - - - - _ .. _

514.
---51--5.
----
_._~.-

._==-=--===-___

300. Cash at Settlement from/to Borrower:

CountYT~x_e_s

516~'--

_._----_. __. _ - - - - _.
_ _ - - - - - _ _ - - - - - _.._------

217. -- ----_
218.
219.
~~o:~f~tal ~~~(fBy/For ~?I!~wer

--

512. Assessments
-s-fi-----

....

-----.-----.-.--

--.---.-----.-. .----.--.

_-_._
_..---_. __ __
......

__

--------

.-.- . -- -.-.--------

Adjustments For Items Unpaid By Seile-r:--

510.-CltYfTown Taxes

511.

- - - - -.. - - - - - - - - -

. -.- . -----

506~-'--

SOR-

-...-.-.-- Adjustments Fc)r-Items Unpaid By Seller-:- - - - - ----------i10. CltyfTown Taxes ..- - - - -..-.. -.-.-.---.--212. Assessments
213.
.. -

06/18/2008

SUMMARY OF SELLE-R~STRANSACTI6N"

K.

100. Gross Amount Due From Borrower:

1~7. COU~~ Taxes..

108. ~.~~_es_s_"'!!~~~
._ _.
109.
.._ ..._._. _ _
110.
111
------ - -.-..- - - -..--.--.. ----------.

---'-'-'--'FuNDiNG DATE:

----PRORATION-DA-T-E-:------

.. ---'''S'LJMMARY OF BORROWER'S TRANSACTION

J.

~~~~6

. '.

517.
518.
519.

520.--rotal Reductions in Amou'ntiJue 'Seller"-- . -.-

600.

Cash~tSettlerrienttolfroRlSeller:

---------,----.,--,.--------'---~-'--..,......-..-~_.:......-...,..,......--'-+-'-'----'-'----,-.:......-------'-~--'--'---'--'--;.,....,.......-'--~--"--'-~-'---..-------_._

301. Gross amount due from Borrower (line 120)

30iLess-amount p-aid by/for Borrower (Iine..'2-2-0)------+---
303~-Cash-Tcfsorrower:------ - .."- --.---...- - - - -..-..

Hudc.rpt (04/24/2006)

601. Gross amount due to Seller (line 420)

602~Less reductions in amount due-Selle-r-(iine'-S2-"
603. Cash TO/FROM Seller:
. - - -._

0.00
....._ - - -

0.00
0.00
0.00

Printed by Leanette Adorkor on 06/18/2008 at 11 :58:00 AM

ESCROW FILE NUMBER:

42613725-823 MFP

OMB No. 2502-0265

L. SETTLEMENT CHARGES:

700. Total Sales/Broker'sCommlsslon:

Based on Price $

-------OiVislon-of C-o-m-m-is-s-io-n-(-lin-e-7-0-0-)-fo-lIo-w-s-:-------------

.----0-----_----.-.-..---

---701.-~-.$-----.--

Paid from
Borrower's
Funds at
SetUement

-----+

"702. $

-----$---_.__ ._- --

..

~-_._----_._---_
1.

. -~~~. . _--..

---..-----.------.--

~~~ms~~~e~G~nKfl~W~~_a_n~:~~~~~~~~

~~~~~::~ ~;~~~~~i~~~ee 2.0%

to Park

Avenu~_B_a_nk_______

. 80iAppraisai Fee to McCalip&Morales Apjiralsalserv-------

_-:_.=~~~~~it-R~~~~.t~.~_ark Ave. Bank/Kroll

.__.

805. Lenders inspection Fee

1.._

L
.
J
~
_---.1__. 2,~~~'__~0_1 ----.-----.-.-

.-f=~~2~.~~I.

..

L___
._._J____
1__

.___

. .1

L__.

808.

10.24

_ _.. __

Fee

--'

~~~~_~

-----------------------.-------

80~:._~_~~~~_I.~~~~~~_!'~pl~cation
807. Assumption Fee

.....

~~~m_m_~_~~~~~~_~_m_e_n_t

Paid from
Seller's
Funds at
Settlement

._ . 1

. __

L__.__--.-!~_'~~
I
_.-~~~~--~:~~:~~;::~:~~~~_;::~~::iK.-I~-:-;,----------------------_. ~_. ._.__.. _._. _. . _. __._.________
_ _ _-+-I_._.__
~.~-'~~_J _

811. MIP to Liberty Reverse Mortgage, Inc.

820. Correspondent Fee to Park Avenue Bank
Correspondent fee from LRM to Park Avenue Bank

900. ItemsReqUir;(fBy-Lehd.r~Ti)B_;~P8i~Adv.nc~:

____~~~_~I~.!~.~~:~_____

905.

--_._..

_______1

____.

_.__.__ ..

1005. Annual Assessments

. .

.___

---_._----_.

1103. Title examination

11

__._---_.__

...

_---_.._----- - - - - - - -

o4:-fitleTnsurance-binder---'- .-. -.-.. . --..

preparation to FlnanClili-TWe--Comparly---------------

'1'-1'oi~--Atto-rney's Fe-e-s-----

---OnClucfesabove item numbers: )

----(Tr1clu-dedabove item nurribers:-- )

. . J

-'-11-12: Endorsement:5.1/8.1-/6.2/FA56 to Financial Title Company

-11-1 i'-Endorsement-Alt-a--9-to-F-fnancl'al Tiiie Company-------------

_____________~ __.. . ~~.. o~_ . L

___ ~_._._.!~~~~_ . .
l_

- -1--1-15~ShippingC-harge-sto--Financfal Title Company

------------

-,-----

.~~~~~_.J_

~ 200. Governm~ntR'cordlngandTransfer _C_h~a---'rg=__e~s___'_____'__~--"--'--~

1201. Recording Fees: Deed$ Mortgage $

295.00 Release $
.- '1'"202:-'CitY/County tax/stamps
--1203:--S-tate- tax/-s-ta-m-p-s-D-e-e-d-$-M-o-rt-g-a-ge-S----

Transfer-Tax-'-

------

-1207~

l.

_----':-1
_ _ _ _----'-1

_ . _ - - - - - - - - - - - - - ---_. __ .._-_ ... _._-----,---

_.-

______

1304. Homeowner's Insurance to Insurance Market Place

--------------

----

1307. Signing Fee - Texas to Notary Central

Hudc.rpt (04/24/2006)

.1 _

_ ._.J_..

~.

1303:-----..----.-..-----.-----------.- ----
1305. Signing/Notary Fee to Richard Kwiatkowski

__.. L_

----+--1__

1301. Survey
1302. Pest Inspection

----_._._--

1..

~~~9.!~_

_'-----,--1 . .

_!~_~~. AddltlonaISettlementCharge~:

1306.

.~95.0~ . t

_.L . _..

----------.----_.--
4__'

..
.J__
_ _~ _ ~_ _--!-I._ --------_ __ 1
.~

1205~ County Transfer Tax

1206.

.J ._. .

. J_____ _.. . J

__ .' . _.__L ._ . . . . . __...1

1111.

-- 120~City

.__. L.. _

..1 . _ ?~~.~~_..J.

1110. Owner's Coverage

L_.....

-'- _ .

~~~~~J

L .

---_._----"-"--- ---_.... ---

~,__O.~...l __

~._!_?_~~~~

J._.
___I

'1'1-09~Lender;sCoverage-$-132:0Q(),OO to Financial Title Company

__ ._----_._-_.. _. -_._._._---

_ _-----!-I_._ ..

-11OaTItleln-surance

..

_--;--1
._ 1..
__________L. ._. ._._._1.
_________1_. . . ._..1 .

--1100-:-Notary-Fees -..

__ ._._-

.1. __ .

l _

~~_~.OO_J_

1101. Settlement or closing fee to Financial Title Company

..

____l

-------------------,--------

-1-1-02. Abstracortitle search to Financial Title Company

1_

__._I ....

J__._ _._. ._ . L
L
..__.. ._ . L.

Charges: _

..... -_.

. __

. 1. ._.

J__.
-.L

..

months-@S---'

._ _._._.

_ . _ - - - - _ . __ ._-_ .. __

- .. _---.--- .... "-"

J____

____~_. __.__._---_._.__.1.- . __..

- -----_._._--_._-----------------

__ .

11-05~- Document

._

__ L

~.

1007.
---1'008: Agg-regateAdjustment
~_~_OO. Title

________________.___
_
__________.

--'1003."Clty- Property Taxes

--1004-. County Property Taxes

-_

Deposited With Lender:

1001. Hazard Insurance

1002.MOrtgage Insurance- .- .. -... -. --------.-. --

- - - - - - - - - _ . _ - _..

_~

.... .1

._ . _.. _._.1..

~_._.

_------!-I

__ .__ ....- .

1006.

.__

--+1_.... _ ._.

_._--

L__

.. _

__

_.~--_.

~~_~~ __~!tserves

._._.

.__ .1

-_.

$213. 70!.1

902. Mortgage Insurance Premium

'9()i-HaZarcfinsurance Premium
_._---------_._-._._._ .. _._.,.

....J__

__ .

82f-Fee-to'ServiCing Company to Liberty Reverse Mortgage, Inc.

904.

~~?~~_:~~_.L

(Buyer $358.43 _PC?C) I

(Buyer $250.00 paC)
(Buyer $395.00 paC) I

819. BrokerFe-e to Park Avenue Bank

1. ..

(Buyer $698.00 PO<:;)I_____

_---.L_ ._.

______ .1..

.__._...

_.

._. .J_.
.. L.
J

~_75~~~_J
.

1._

1?~. ~~_.l

Printed by Leanette Adorkor on 06/18/2008 at 11 :58:00 AM

ESCROW FILE NUMBER:

42613725-823 MFP

OMB No. 25020265

1400. Total Settlement Charges (Enter on line 103,Section J -and-line 502, Section K)

Hudc.rpt (04/24/2006)

Printed by Leanetle Ador1<or on 06118/2008 at 11:58:00 AM

ESCROW FILE NUMBER:

42613725-823 MFP

OMB No. 2502-0265

IBREAKDOWN OF NEW LOANS

seHer

Buyer
Description

--_~_~~~~-_~-~~_.-_---._-_-._--_-

Liberty Reverse Mortg.~_~~~_I~~ .__ ~0951 __~_~!~ Rock ~_a~_~._~~~_._~_~~~~o Cordova. Ca 95670. L
Park Avenue Bank. 8375 S.W. State Rd . Ocala. FL 34481. Loan#

--+-

~~oun~

Amount

9?_~~~~~_

~~~~~~~~-=--~------------~~~~~~~~~~~~-~--~-~-~--------~-~-!-~~~~----~-----

Hudc.rpt (04/24/2006)

Printed by Leanette Adorkor on 06/18/2008 at 11 :58:00 AM

ESCROW FILE NUMBER:

42613725-823 MFP

OMB No. 2502-0265

BREAKDOWN OF PAYOFF ON HUDline 104

Payoff to:

Loan #: 0035923242

SunTrust Mortgage
1001 Semmes Ave
Attn: P/O Dept RVW31 02
Richmond VA 23224

1==-=--=--====-=--=-=-=-=-= =.==.~D~es;:.9"::.:i!C:p_t~~~

_
Principal Balance
Interest from 06/16/2008 to 06/20/2008---.----
----
... - - - -
Interest to 6-16-08
.Recording Fee
FaxFee ~--------~

Amount

46,555.11
33.16'
124.36
10.00
40.00
46,762.63

Total as shown on HUD line #104.

46,762.63

IBREAKDOWN OF PAYOFF ON HUD line 105

Payoff to:

Loan #: 07208972000002091

SunTrust Bank
41 Rachel Drive
Attn:CLS Monetary TN Nash 7967
Nashville, TN 37214

~=~=.=~=~_=====~D:;;~crip~i()n._ _._
..._...__=0'".

1..

>.-P:-n:-n...:c-,iP:..::a_1B=-a;..l=-an=c:.;e~
Interest to 6-12-08
Closing Costs
Fax Fee

. _.__ ..

Reltl"aseFee'------

AcfdliJoiiaiTiifl--------------- -

Amount
._.

29,553.64

lin7
341.60
20.00
20.00
40.00'
30,102.41

Total as shown on HUD line #105.

Hudc.rpt (0412412006)

30,102.41

Printed by Leanelle Adorkor on 06118/2008 at 11 :58:00 AM

,..-;;::.

....
~

. ~

FINANCIAL

. . . .

.. _...

*......_- ----~ . .~. ____

I& ~........--

~",'~POS~

~oq;~~

Y I]Y LEe 0 M PAN Y

.'

~-

--.&1IIIIIIlIIIP'."...........
..
$ OO~ 590
-

PITNEV B0W5

~~-l:o!Pf~ 02 1P
....~:t~ 0002391483 J Uhl18 2008
m~&t~~7~-ti;. MAILED FROM ZIP CODE 9 5 6 3 'J

Reverse Mortgage
10
. 81 Blue Ravine Road #220
Folsom, CA 95630
~

\
344B i :.=t:::;i5E: '? R045

\
~~

J"JlIIJ IIJ 1111111 111111111111 Iii ,,1111 J,,, JI,/1I1IUi1li,1

II

Ma~

1.

seTTLEMENT STATEMENT

FInancial Title Campan)'

81 Blue Ravine Rd. 1# 220
Fot,om, CA 95830

2.
8.

FHA

VA

FwtA
CONY. INS.

0 .

I. 9CROW FILE NUf4IeR:

42

A ... A . " P

..... , .

MFP

3.

CONY. UNINB.

7. L.oAN NUMBER:

39100

I. MORTOAOR INIURANCE CAl! NUMlER:

I

ADDReeS OF BOAAOWI!~

0.- No. 2602.02

R. TYPE OF LOAN

A. U.S. DEPARTMENT OF HQUI.." AMJ URBAN DEVELopw;m

D. NAME OF BOAAOWER:

p.G

352 854 0857

HAVESEALWILLTRAVEL

29 2008 10:42

091-44067411952-288

Penelope M. GUieipie and Nel J. GIIIMpie. Mark GIple

80928W 1-15Th Loop

00818, FL 34481

e. NAAE OF BELLER:

ADDRESS OF eeu.ER:

F. NAME. OF LSNDeR:
ADDRESS OF LENDER:
B. PROPERTY LOCATION:

Uberty ReYerM

H. SETTLa.ENT AGENT:
PLACE OF BETTLENENT:

I. SETTLEMENT D.\TE~

J.

Mortglge, Inc.

108S1 WhJt8 Rock Roed B. 200,

Rancho Cordova, C. 85670
8092 SW.115Th Loop
ocala, FL 34'181
Marlon 7013007001
Financial "Ue Compeny
81 Blue RavIne Rd, , 220, FollOm, CA 85830

PUNDING MTE~
SUMMARV OF SELLER'S TRANSACTION

PAORATION DATE:

SUMMARY OF BORROWER'S TRANSACTION

1(.

101. Conbot 8111_ Price

102. P~.I Pro ~

103. 8_tJ.menl chirga to Barmww (Une 1400)

105. Payoff to SunTruat Bsnk
AdJu.mente Fot' ltema Paid B~ &ell.,. In Advance:

9179.44
4872 ,47
30323.82

101. Count T

110.

,,1.

112.
113.
114.
116.

12D. Groll AmO\lnt Due from borrower:

O.C

20

;......'''_1_

42613725-823 MFP

ESCROW FILE NUMBER:

8IMCI on l"J\Cle $

Peld from

OM.1on of CommlMlon pine 100) foIlowe.

701. $

Bofl'owW'8
Fund 1
S8IIlemen'

Peld

from

w .....

Fundi .1
SlIlIlerlRll1t

702.

s
703. Comml..k1n paid 81lll1t1emenl
704.

------1IJ2.~840~.00-~~.

a01. LoIIn OrlglMtlon F. . 2.0% 10 Per1t AYlInu. bilk

lOa. ~ Dllaounl Fee

260.00

'.,n.

804. Cndlll\~rt 10 1"0

E1enllll<roll
lOll. LIOCl_ InlPtlCl'On F..
808. MOI1gIIg. Inluranoe AppIlcaUon Fee

808.
8OIl. 000 Pr.paratlon F.. 10 Bey OOCI. Inc.
810, Flood C.r1 F_ to Po Ave. IlenIlIKrolI
8 I1. NIP 10 UbertY RIve,.. ~0l1gIIgI. lno.
8111. BIoker F. . to "elll. ,0.\'11'1'" BtInk
820. Co~.pond,", F.. 10 PIltI AYIllIu, Bank
821. Fee III s,Nlclng Oompeny 10 ~

~...... t.1oftII"'"

Correepondenl f . tram LRM 10 P. .

100.00
12,00
2.840.00
\.

(Buyer $36M3 POe)

~

Inc.

..

Avenui'ISiriiliillilliiiill-"

(Buyer S3f6.

1'\

7(~f3.~

901.lnlllrMl

903. H.zenS IneuranCl'l Premium

1001. HPMllneurenCl'l
1003. City Prop.-ty T _

1004. Co,,"\)' Property TUM

1005. Mnual A.....mente
1008.
1007.
1008. Aggregete AdlU.lment
1101,
1102.
1103.
110.4.
1105,

0.00

OS

484.00
175.00

8etllemenlO( cloRlg fee 10 Fnenc:18' TllIe Compen)'

Abltnlct 0( Itl. . . .rd1 111
TIlle .mlllllltlOn
TltI' In.uranc. bind.
Doc;"",enl prepllraltan to Flnenolel TIll, Compeny

, '07. Anomll)l" Fen

(Indudes .bove

month'

'08. TIde Inll/renee

60.00

'*" n"mben: )

(Inaudecl 'boW llem numbBnl: )

132.000.00 10 FIn.nelet Tltl. Compeny

735.00

1108. Lend .., OOYllf1lllll'

11'0.Own".C~,

11'1.
1112. Endorllmenl-5.118.118.2IFA5810 F1nl"*' TIIII Company

100.00
73.50
40.00

1115. Bhlppt1g Chergea 10 Finanellli Tl Comp,ny

1203. S.. 1e "xI,tamp. gnd$

Mo.""

1,088.70

1205. County T,.,.t. TlIll

1zoe.
1207.
'301.al.l"'~

1302. P,.I lnep""on

1303.

.Y'-..

(SuyerfOMOO POC)
175.00

1306.
310.00

Pt1nled by FI""II'Ioh800 on OlllZlli2OO8 III 02;00;42 PI

Have Seal - Will Travel eee

Richard T. Kwiatkowski

;JJiltohilr Notary lGublic

~h&erse ;!llffortgage .1\lIhi501

<!lertifieh JEoan

~igning

,Agent

Servicine

Marion-Citrus-Lake-Sumter-Levy-Alachua Counties

Ph 352-362-6465

Fax 352-854-0857

EMail .. rksigningagent@aol.com

21