B L A N K R O M E LLP C O U N S E L O R S A T L A W

Phone: (215) 569-5714

Fax: (215) 632-5714

Email: JMoore@BlankRome.com

March?, 2014

Abdiel Ecbeverria and Isabel Santamaria 499 Cellini Ave. NE Palm Bay, FL 32907

Re: Borrower: Abdiel Ecbeverria and Isabel Santamaria (eolleetively, the "Borrower") Property Address: 499 Cellini Ave. NE, Palm Bay, FL 32907 Loan Number ending in: 3127 (the "Loan")

Dear Mr. Ecbeverria and Ms. Santamaria:

This firm represents Bank of America, N.A., as successor by merger to BAC Home Loans Servicing, LP ("Bank of America"), for the sole purpose of responding to your correspondence dated January 9, 2014 (the "Letter"). Bank of America has reviewed the Letter and is writing in response to the inquiries and/or allegations contained in the Letter that contain a Notice of Error under 12 C.F.R. 1024.35, an Information Request under 12 C.F.R. 1024.36, or wbicb otherwise require a response under state or federal law. The results of this review are set forth below and in the documents enclosed herewith.

Bank of America has reviewed the Letter and is unable to ascertain any specific error alleged by the Borrower. As you may be aware, 12 C.F.R. 1024.35 does not require a servicer to respond to overbroad allegations that do not allow the servicer to reasonably determine the specific error(s) alleged. Therefore, it is Bank of America's position that the Letter does not contain a Notice of Error under 12 C.F.R. 1024.35.

The Letter also makes numerous requests for information and documentation relating to the Loan. As you may be aware, under 12 C.F.R. 1024.36, a servicer is not required to respond to requests for information that are unduly burdensome, nor is a servicer required to address overbroad requests that seek an unreasonable volume of documents or information. A servicer is also not required to respond to requests for information irrelevant to a borrower's loan or to requests that seek confidential, privileged, or proprietary information. In addition, a servicer is not required to provide a Borrower with information or documentation that is not in the servicer's control or possession or that cannot be retrieved in the ordinary course of business through reasonable efforts. It is Bank of America's position that a number of the Borrower's

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March?, 2014 Page 2

requests fit within one or more of these exceptions under 12 C.F.R. 1024.36. Subject to the foregoing exceptions and limitations. Bank of America has reviewed the Loan file, and its response to the Borrower's information requests are contained below and in the documents enclosed herewith.

Enclosed per your request please find copies of the Note, Mortgage and Appraisal Report. Please see the enclosed documents for information regarding the original lender, the MIN number and additional information regarding the terms and conditions of the Loan.

Also enclosed is a Payment History that provides a detailed outline of transactions for the Loan during Bank of America's servicing. Please note that this history provides pertinent information on payments received, tax and insurance payments disbursed, funds in the suspense/unapplied funds balance, and late charges assessed and paid. The Payment History is designed to be user-friendly and there are no codes or terms used in the Payment History that require specific definitions.

The fees that have been charged against the account wbicb are not reflected in the Payment History are as follows: inspection fees of $30.00 and registration of vacant property expenses of $100.00.

!

!

Pursuant to 15 U.S.C. 1641(f)(2), the current owner of the note is Government National Mortgage Association, with an address of 451 Seventh St., S.W., Washington, DC 20410, and a telephone number of (202) 708-2884.

Bank of America has serviced the Loan since August 24, 2009. The prior servicer of the Loan was Taylor, Bean & Wbitaker.

Lender placed hazard insurance was secured on June 21, 2013, effective April 7, 2013, for the annual premium of $5,029.54. This policy was canceled on October 24, 2013, and a refund in the amount of $2,356.30.

We have requested a reinstatement calculation and a payoff demand statement, wbicb wil l be (or have been) forwarded to you under separate cover. The reinstatement calculation will contain a breakdown of all unpaid payment due on the Loan and wil l show the amount necessary to reinstate the Loan to normal servicing. The payoff demand statement wil l show the amount necessary to pay off the Loan.

It is Bank of America's position that no further response to the Letter is required. The remaining requests and/or allegations contained in the Letter do not require a substantive response under 12 C.F.R. 1024.35-1024.36 (and/or the exceptions articulated therein), seek documentation or information beyond that wbicb is available through a request for verification of debt made under 12 U.S.C. 1692g, or do not otherwise require a response under state or federal law.

I , G

900200.00000/22292486V.1

March 7, 2014 Page 3

In providing the above response. Bank of America is not limiting or waiving any rights or remedies it may now have or hereafter have, whether arising under the loan documents, at law or in equity, all of wbicb rights and remedies are expressly reserved.

Questions or concerns regarding the contents of this letter should be submitted to Bank of America in writing at P.O. Box 942019, Simi Valley, CA 93094-2019. In the event you have other questions or concerns regarding the Loan, please contact the Borrower's assigned customer relationship manager with Bank of America, Katberine Brown, at (800) 669-6650.

Very truly yours.

Lnclosures

900200.00000/22292486V. 1

, . C3_1632 LNHISTF 15013 04/24/2012 Bankof America

Home Loans

P.O. Box 5170 Simi Valley, CA 93062-5170

Notice Date: 02/07/2014

ABDIEL ECHEVERRIA & ISABEL SANTAMARIA Loan N c i ^//jj^^Ml 499 CELLINI AVE NE PALM BAY, FL 32907 Property Address:

499 CELLINI A V E NE PALM BAY, FL 32907

IMPORTANT MESSAGE ABOUT YOUR HOME LOAN

Enclosed is the loan history statement you requested that provides a detailed outline of transactions for the above-referenced loan number. This statement provides a history or information on payments we have received from you, servicing expenses we have paid to third parties, tax and insurance payments paid on your behalf, and any late charges assessed and paid.

THANK YOU

If you have any questions, please call us at 1-800-437-5760, Monday-Friday 7a.m. to 7p.m. Local Time.

We appreciate the opportunity to serve your home loan needs.

This communication is from Bank of America, N.A., the servicer of your home loan.

Bankof America

Home Loans

Loan Number: ^ 3 1 2 7 Property Address: Statement Period: 02/2008 - 02/2014 499 CELLINI A V E NE Date Prepared: 02/07/2014 PALM BAY, FL 32907

Transact ion Date

Description Total Payment

PMT/Mo Principal Balance

Interest Escrow Balance

Optional Buydown Late Charges Tota l

Unapplied Total

B e g i n n i n g Ba lance 140,464.35 .00 .00

08/24/2009 INT ESCROW SETUP 2,373.29 07/2009 .00 140,464.35

.00 2,373.29 2,373.29

.00 .00 .00 .00

.00

.00

09/04/2009 FHA MIP PMT -118.84 07/2009 .00 140,464.35

.00 -118.84 2,254.45

.00 .00 .00 .00

.00

.00

09/30/2009 REGULAR PAYMENT 1,284.58 08/2009 155.53 140,308.82

731.59 397.46 2,651.91

.00 .00 .00 .00

.00

.00

10/09/2009 REGULAR PAYMENT 1,284.58 09/2009 156.34 140,152.48

730.78 397.46 3,049.37

.00 .00 .00 .00

.00 .00

11/05/2009 FHA MIP PMT -52.44 09/2009 .00 140,152.48

.00 -52.44 2,996.93

.00 .00 .00 .00

.00

.00

11/20/2009 COUNTY TAX PMT -1,915.37 09/2009 .00 140,152.48

.00 -1,915.37 1,081.56

.00 .00 .00 .00

.00

.00

12/04/2009 FHA MIP PMT -58.12 09/2009 .00 140,152.48

.00 -58.12 1,023.44

.00 .00 .00 .00

.00

.00

12/04/2009 MISC. POSTING 1,215.76 09/2009 .00 140,152.48

.00 .00 1,023.44

.00 .00 .00 .00

1,215.76 1,215.76

01/05/2010 REGULAR PAYMENT 1,284.58 10/2009 157.16 139,995.32

729.96 397.46 1,420.90

.00 .00 .00 -51.38

.00 1,215.76

01/05/2010 MISC. POSTING -68.82 10/2009 .00 139,995.32

.00 .00 1,420.90

.00 .00 .00 -51.38

-68.82 1,146.94

01/07/2010 FHA MIP PMT -58.12 10/2009 .00 139,995.32

.00 -58.12 1,362.78

.00 .00 .00 -51.38

.00 1,146.94

02/04/2010 FHA MIP PMT -58.12 10/2009 .00 139,995.32

.00 -58.12 1,304.66

.00 .00 .00 -51.38

.00 1,146.94

03/04/2010 FHA MIP PMT -58.12 10/2009 .00 139,995.32

.00 -58.12 1,246.54

.00 .00 .00 -51.38

.00 1,146.94

03/05/2010 HAZARD INS PMT -1,251.00 10/2009 .00 139,995.32

.00 -1,251.00 -4.46

.00 .00 .00 -51.38

.00 1,146.94

04/06/2010 FHA MIP PMT -57.36 10/2009 .00 139,995.32

.00 -57.36 -61.82

.00 .00 .00 -51.38

.00 1,146.94

04/20/2010 REGULAR PAYMENT 1,215.76 11/2009 157.98 139,837.34

729.14 326.15 264.33

.00 .00 2.49 -97 .42

.00 1,146.94

04/20/2010 REGULAR PAYMENT 1,215.76 12/2009 158.80 139,678.54

728.32 326.15 590.48

.00 .00 2.49 -143.46

.00 1,146.94

Bankof America

Home Loans Page 5

Transaction Date

Description Total

Payment PMT/Mo Principal Balance

Interest Escrow Balance

Opt ional Buydown Late Charges To ta l

Unapplied Total

04/20/2010 REGULAR PAYMENT 1,215.76 01/2010 159.63 139,518.91

727.49 326.15 916.63

.00 .00 2.49 -189.50

.00 1,146.94

05/06/2010 FHA MIP PMT -57.36 01/2010 .00 139,518.91

.00 -57.36 859.27

.00 .00 .00 -189.50

.00 1,146.94

05/07/2010 REGULAR PAYMENT 1,213.27 02/2010 160.46 139,358.45

726.66 326.15 1,185.42

.00 .00 .00 -238.03

.00 1,146.94

05/07/2010 MISC. POSTING 2.49 02/2010 .00 139,358.45

.00 .00 1,185.42

.00 .00 .00 -238.03

2.49 1,149.43

06/04/2010 FHA MIP PMT -57.36 02/2010 .00 139,358.45

.00 -57.36 1,128.06

.00 .00 .00 -238.03

.00 1,149.43

06/24/2010 REGULAR PAYMENT 1,213.27 03/2010 161.29 139,197.16

725.83 326.15 1,454.21

.00 .00 .00 -286.56

.00 1,149.43

06/24/2010 MISC. POSTING 31.73 03/2010 .00 139,197.16

.00 .00 1,454.21

.00 .00 .00 -286.56

31.73 1,181.16

07/07/2010 FHA MIP PMT -57.36 03/2010 .00 139,197.16

.00 -57.36 1,396.85

.00 .00 .00 -286.56

.00 1,181.16

07/29/2010 REGULAR PAYMENT 1,213.27 04/2010 162.13 139,035.03

724.99 326.15 1,723.00

.00 .00 .00 -335.09

.00 1,181.16

07/29/2010 MISC. POSTING 2.49 04/2010 .00 139,035.03

.00 .00 1,723.00

.00 .00 .00 -335.09

2.49 1,183.65

08/05/2010 FHA MIP PMT -57.36 04/2010 .00 139,035.03

.00 -57.36 1,665.64

.00 .00 .00 -335.09

.00 1,183.65

09/02/2010 MISC. POSTING -335.09 04/2010 .00 139,035.03

.00 .00 1,665.64

.00 .00 .00 -335.09

-335.09 848.56

09/02/2010 MISC. POSTING 335.09 04/2010 .00 139,035.03

, .00 .00 1,665.64

.00 .00 335.09 .00

.00 848.56

09/07/2010 FHA MIP PMT -57.36 04/2010 .00 139,035.03

: " .00 -57.36 1,608.28

00 .00 .00 .00

.00 848.56

09/09/2010 REGULAR PAYMENT 1,213.27 05/2010 162.98 138,872.05

724.14 326.15 1,934.43

.00 .00 .00 -48.53

.00 848.56

09/09/2010 MISC. POSTING 2.73 05/2010 .00 138,872.05

.00 .00 1,934.43

.00 .00 .00 -48.53

2.73 851.29

09/10/2010 MISC. POSTING -48.53 05/2010 .00 138,872.05

.00 .00 1,934.43

.00 .00 .00 -48.53

-48.53 802.76

Bankof America

Home Loans

Transact ion Date

Descr ipt ion Total

Payment PMT/Mo

Principal Balance

Interest Escrow Balance

Opt ional Buydown Late Charges

Tota l Unappl ied

Total

09/10/2010 MISC. POSTING 48.53 05/2010 .00 138,872.05

.00 .00 1,934.43

.00 .00 48.53 .00

.00 802.76

09/27/2010 MISC. POSTING 65.00 05/2010 .00 138,872.05

.00 .00 1,934.43

.00 .00 .00 .00

65.00 867.76

10/06/2010 FHA MIP PMT -57.36 05/2010 .00 138,872.05

.00 -57.36 1,877.07

.00 .00 .00 .00

.00 867.76

11/04/2010 FHA MIP PMT -57.36 05/2010 .00 138,872.05

.00 -57.36 1,819.71

.00 .00 .00 .00

.00 867.76

11/15/2010 COUNTY TAX PMT -1,513.22 05/2010 .00 138,872.05

.00 -1,513.22 306.49

.00 .00 .00 .00

.00 867.76

12/06/2010 FHA MIP PMT -57.36 05/2010 .00 138,872.05

.00 -57.36 249.13

.00 .00 .00 .00

.00 867.76

01/06/2011 FHA MIP PMT -57.36 05/2010 .00 138,872.05

.00 -57.36 191.77

.00 .00 .00 .00

.00 867.76

01/31/2011 H/kZARD INS PMT -1,274.00 05/2010 .00 138,872.05

.00 -1,274.00 -1,082.23

.00 .00 .00 .00

.00 867.76

02/04/2011 FHA MIP PMT -57.36 05/2010 .00 138,872.05

.00 -57.36 -1,139.59

.00 .00 .00 .00

.00 867.76

03/04/2011 FHA MIP PMT -57.36 05/2010 .00 138,872.05

.00 -57.36 -1,196.95

.00 .00 .00 .00

.00 867.76

04/06/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,253.50

.00 .00 .00 .00

.00 867.76

05/05/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,310.05

.00 .00 .00 M

.00 867.76

06/06/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,366.60

.00 .00 JOO .00

.00 867.76

06/20/2011 MISC. POSTING -867.76 05/2010 .00 138,872.05

.00 .00 -1,366.60

.00 .00 .00 .00

-867.76 .00

07/07/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,423.15

.00 .00 .00 M

.00

.00

08/04/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,479.70

.00 .00 JOO .00

.00

.00

09/07/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,536.25

.00 .00 .00 .00

.00 M

Bankof America

Home Loans Page 7

Transact ion Date Descript ion

Total Payment

PMT/Mo Principal Balance

Interest Escrow Balance

Optional Buydown Late Charges Tota l

Unapplied Total

10/06/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,592.80

.00 ,00 .00 .00

.00 .00

11/04/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -1,649.35

.00 .00 .00 .00

.00 .00

11/21/2011 COUNTY TAX PMT -1,173.47 05/2010 .00 138,872.05

.00 -1,173.47 -2,822.82

.00 .00 .00 .00

.Ob

.00

12/06/2011 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -2,879.37

.00 .00 .00 .00

.00

.00

01/06/2012 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -2,935.92

.00 .00 .00 .00

.00

.00

01/25/2012 HAZARD INS PMT -1,661.00 05/2010 .00 138,872.05

.00 -1,661.00 -4,596.92

.00 .00 .00 .00

.00

.00

02/06/2012 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -4,653.47

.00 .00 .00 .00

.00

.00

03/06/2012 FHA MIP PMT -56.55 05/2010 .00 138,872.05

.00 -56.55 -4,710.02

.00 .00 .00 .00

.00

.00

04/05/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -4,765.71

.00 .00 .00 .00

.00

.00

05/04/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -4,821.40

.00 .00 .00 .00

.00 M

06/06/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -4,877.09

.00 .00 .00 M

.00 .00

07/06/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -4,932.78

.00 .00 .00 .00

.00 M

08/07/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -4,988.47

.00 .00 .00 M

.00 .00

09/07/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -5,044.16

.00 .00 .00 .00

,00 .00

10/04/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -5,099.85

.00 .00 .00 M

.00 M

11/06/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -5,155.54

.00 .00 .00 .00

.00

.00

11/13/2012 COUNTY TAX PMT -995.54 05/2010 .00 138,872.05

.00 -995.54 -6,151.08

.00 .00 .00 M

.00 .00

Bank of America

Home Loans Page 8

Transact ion Date

Descript ion Total

Payment PMT/Mo

Principal Balance

Interest Escrow Balance

Opt ional Buydown Late Charges

Tota l Unapplied

Total

12/06/2012 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -6,206.77

.00 .00 .00 .00

.00

.00

01/07/2013 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -6,262.46

.00 .00 .00 .00

.00

.00

02/06/2013 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -6,318.15

.00 .00 .00 .00

.00

.00

02/07/2013 HAZARD INS PMT -2.221.00 05/2010 .00 138,872.05

.00 -2,221.00 -8,539.15

.00 .00 .00 .00

.00

.00

02/08/2013 Assessed Late Chg 48.53 06/2010 .00 138,872.05

.00 .00 -8,539.15

.00 .00 .00 -48.53

.00

.00

02/08/2013 Assessed Late Chg 48.53 07/2010 .00 138,872.05

.00 .00 -8,539.15

.00 .00 .00 -97.06

.00

.00

02/08/2013 Assessed Late Chg 48.53 08/2010 .00 138,872.05

.00 .00 -8,539.15

.00 .00 .00 -145.59

.00

.00

02/08/2013 Assessed Late Chg 48.53 09/2010 .00 138,872.05

.00 .00 -8,539.15

.00 .00 .00 -194.12

.00

.00

03/06/2013 FHA MIP PMT -55.69 05/2010 .00 138,872.05

.00 -55.69 -8,594.84

.00 .00 .00 -194.12

.00

.00

04/04/2013 FHA MIP PMT -54.78 05/2010 .00 138,872.05

.00 -54.78 -8,649.62

.00 .00 .00 -194.12

.00

.00

05/06/2013 FHA MIP PMT -54.78 05/2010 .00 138,872.05

.00 -54.78 -8,704.40

.00 .00 .00 -194.12

.00

.00

06/06/2013 FHA MIP PMT -54.78 05/2010 .00 138,872.05

.00 -54.78 -8,759.18

.00 .00 .00 -194.12

.00

.00

06/21/2013 HAZARD INS PMT -5,029.54 05/2010 .00 138,872.05

.00 -5,029.54 -13,788.72

.00 .00 .00 -194.12

.00 M

07/05/2013 FHA MIP PMT -54.78 05/2010 .00 138,872.05

.00 -54.78 -13,843.50

.00 .00 .00 -194.12

.00

.00

08/06/2013 FHA MIP PMT -54.78 05/2010 .00 138,872.05

.00 -54.78 -13,898.28

.00 .00 .00 -194.12

.00

.00

09/06/2013 FHA MIP PMT -54.78 05/2010 .00 138,872.05

.00 -54.78 -13,953.06

.00 .00 .00 -194.12

.00

.00

10/04/2013 FHA MIP PMT -54.78 05/2010 .00 138,872.05

.00 -54.78 -14,007.84

.00 .00 .00 -194.12

.00

.00

Bankof America

Home Loans Page 9

Transact ion r ^ ^ ^ , : x : Date Description

10/21/2013 HAZARD INS PMT

10/24/2013 HAZ INS CREDIT

10/30/2013 COUNTY T/\ PMT

11/06/2013 FHA MIP PMT

12/05/2013 FHA MIP PMT

01/07/2014 FHA MIP PMT

02/06/2014 FHA MIP PMT

Total Payment

PMT/Mo Principal Balance

-3,517.63 05/2010

2,356.30 05/2010

-984.68 05/2010

-54.78 05/2010

-54.78 05/2010

-54.78 05/2010

-54.78 05/2010

.00

138,872.05

.00 138,872.05

.00 138,872.05

.00 138,872.05

.00 138,872.05

.00

138,872.05

.00 138,872.05

Interest

.00

.00

.00

.00

.00

.00

.00

Escrow Balance

-3,517,63 -17,525.47

2,356.30 -15,169.17

-984.68 -16,153.85

-54.78 -16,208.63

-54.78 -16,263.41

-54.78 -16,318.19

-54.78 -16,372.97

Optional Buydown Late Charges Unappl ied Tota l Total

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00 -194.12

.00 -194.12

.00 -194.12

.00 -194.12

.00 -194.12

.00 -194.12

.00 -194.12

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00

.00 .00

.00

.00

NOTE

F H A C A S E NO.

094^76646-703

February 29, 2008 . - [Date] . . . .

499 Cellini Ave NE Palm Bay, FL 32907

[Property Address] ' ' ' . , , : ,

1. PARTIES "Borrower" means each person signing at the end of tlijs Note, and the person's successors and assigiis. 'Tender" ,

means Taylor, Bean & Whitaker Mortgage Corp.

and Its successors and assigns.

2 . BORROWER'S PROMISE TO PAY; INTEREST In return for a loan received from Lender, Borrower promises to pay the principal sum of One Hundred Forty Four

Thousand Seventy Nine and no/100 . Dollars (U.S. $144,079.00 ), plus interest, to the order of Lender. Interest wi l l be'chargedon unpaid principal, from the date of disbursement of the loan proceeds by Lender, at tlie rate of Six and One Quarter

percent ( 6.2500%) per year until the full amount ofprincipal has been paid. '. .

3. PROMISE TO PAY SECURED . , . Borrower's promise to pay is secured by a mortgage, deed of trust or similar security instrument that is dated tlid same

date as this Note and called the "Security Instrument" The Security Instrument protects the Lender from losses which might. result i f Borrower defaults under tliis Note. , ' . . . '.- "

4. MANNER OF PAYMENT . ' (A) Time . . .

; ' Borrower shall make a payment of principal and interest to Lender on tlie first day of each month beginning on April 01,2008 . Any principal and interest remaining on the first day of March 2038 will be due on tliat date, which is called the "Maturity Date." ,

(B) . Place . Payment shall be made at Taylor, Bean & Whitaker Mortgage Corp., 1417 North Magnolia Ave, Ocala, FL

34475

' . or at such other place as Lender may designate in writing by notice to Borrower. (C) Amount

Each montlily payment of principal and interest will be in the amount of U.S. $887.12 this amount will be part of a larger monthly payment required by tlie Security Instrument, tliat shall be applied to principal, interest and other items in the order described in the Security Instrument.

. (D) Allonge eo this Note for Payment Adjustments I f an allonge providing for payment adjustments is executed by Borrower together with this Note, the covenants of tlie

allonge shall-be incorporated into and shall amend and supplement the covenants of this Note as i f the'allonge were a part of tills Note. (Check applicable box.)

I [ Growing Equity Allonge I I Graduated Payment Allonge'

I Otlier [specify]

5. BORROWER'S RIGHT TO PREPAY Bonower has tlie riglit to pay tlie debt evidenced by this Note, in whole or in part, without charge or penalty, on tlie first

day of any month, Lender shall accept prepayment on otlier days provided that Borrower pays interest on tlie amount prepaid for tlie remainder of the month to tlie extent required by Lender and permitted by regulations of tlie Secretary. I f Borrower makes a partial prepayment, there will be no changes in the due date or in the amount of the monthly payment imless Lender agrees in writing to tliose changes. . - . ' ' .

6. BORROWER'S FAILURE TO PAY (A) Late Charge for Overdue Payments I f Lender has not received the full monthly payment required by the Security Instrmnent, as described in Paragraph 4(C)

of this Note, by the end of fifteen calendar days after the payment is due, Lender may collect a late charge in tlie amount of Fouf .percent ( 4.0 %) of the overdue amount of each payment.

(B) . Default I f Borrower defaults by failing to pay in fiill any monthly payment, tlien Lender may, except as limited by regulations of

the Secretary in the case of payment defaults, require immediate payment in full of the principal balance remaining due and all accrued interest. Lender may choose not to exercise this option witliout waiving its rights in the event of any subsequent default. In many circumstances regulations issued by the Secretary wi l l limit Lender's rights to require immediate payment in full in the case of payment defaults. This Note does not autliorize acceleration when not permitted by HUD regulations. As used in this Note, "Secretary" means tlie Secretary of Housing and Urban Development or his or her designee.

. (C) Payment of Costs and Expenses I f Lender has required immediate payment in full, as described above, Lender may require Borrower to pay costs and .

expenses including reasonable and customary attorneys' fees for enforcing this Note to tlie extent not prohibited by applicable law. Such fees and costs shall bear interest from the date of disbursement at the same rate as the principal of tliis Note.

7. WAIVERS Borrower and any otlier person who has obligations under tliis Note waive 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 otlier persons that amounts due have not been paid;

8. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to Borrower under tliis Note wil l be

given by delivering it or by mailing it by fust class mail to Borrower at tlie property address above or at a different address i f Borrower has given Lender a notice of Borrower's different address.

Any notice that must be given to Lender under tliis Note will be given by first class mail to Lender at the address stated in Paragraph 4(B) or at a different address i f Borrower is given a notice of that different address.

9. OBLIGATIONS OF PERSONS UNDER THIS NOTE I f more than one person signs this Note, each person is fully and peisonally obligated to keep all of the promises made

in this Note, including tlie promise to pay tlie full amount owed. Any person who is-a guarantor, surety or endorser of this Note is also obligated to do tliese tilings. Any person who takes over these obligations, includuig tlie obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of tlie promises made in this Note. Lender may enforce its rights under this Note against each person individually or against all signatories togetlier. Any one person signing this Note may be required to pay all of tlie amounts owed under this Note.

FLORIDA FHA FIXED RATE NOTE GreatDocs~

ITEM 6771L2 (9810) (Page 2 of 3 pages) To Order Call: 1.800.968-5775

10. DOCUMENTARY TAX Tlie state documentary tax due on tliis Note has been paid on the mortgage securing tliis indebtedness.

, BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in pages 1 tlirough 3 of tliis Note.

ABdjel ' |efi (Seal)

-Borrower i l Santamaria .(Seal)

-Borrower

(Seal) -Borrower

^(Seal) Borrower

(Seal) -Borrower

(Seal) -Borrower

Without recourse, pay to Ihe order Of

By: Taylor, Bean a tSfhilato Mortgage Corp.

ErIaCarier-Sttawi, E.V.P.

[Sign Original Only]

FLORIDA FHA FIXED RATE NOTE

ITEMB771L3(B810) (Page 3 of 3 pages) GroalDocs

To Order Call; 1-800-868-577S

PREPARED BY:

Name: Teresa Neeley

Address: Taylof, BeBD & Whitaker Mortgage Corp. 1417 North Magnolia Ave Ocala, FL 34475

Return to: SECURITY FIRST TITLE PARTNERS 1600 SARNO ROAD, STE 20, STE 2, STE 20 MELBOURNE , FL 32935

CFN 2008043203, OR BK 5848 Paqe 6518

Doc M. $504.35 Int. Tax: $28S. 16 #Pgs;7

[Space Above This Line For Recording Data)

MORTGAGE MIN:100029500024179545

FHA CASE NO.

094-5376646-703

THIS MORTGAGE ("Security Instrument") is given on February 29, 2008 The mortgagor is Abdiel Echeverrla and Isabel Santamaria, husband & wife

("Borrower"). This Security Instrument is given to Mortgage Electronic Registration Systems, Inc. ("MERS"). MERS is a separate corporation tliat is acting solely as nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. Taylor, Bean & Whitaker Mortgage Corp.

under the laws of FL has an address of 1417 North Magnolia Ave, Ocala, FL 34475

("Lender") is organized and existing .and

Borrower owes Lender the principal sum of One Hundred Forty Four Thousand Seventy Nine and no/100 Dollars (U.S. 5144,079.00 ).

This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), wliich provides for montlily payments, with the full debt, i f not paid earlier, due and payable on March 01, 2038 This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, witli interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, witli interest, advanced under paragraph 7 to protect the security of tliis Security Instrument; and (c) tlie performance of Borrower's covenants and agreements under tliis Security Instrument and the Note. For tliis purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS the following described property located in Brevard County, Florida:

L o t 1, Block 196, PORT MALABAR UNIT SEVEN, as per p l a t t h e r e o f , r e c o r d e d i n P l a t Book 14, Pages 125 through 135, i n c l u s i v e , of the P u b l i c Records of B r e v a r d County, F l o r i d a

FLORIDA FlIA M O R T G A G E 6/96

MERS ITEM 9702L1 (0709)

iMIIiilllllliili 11111^^954-

GratDoc (Page 1 of 7)

T9702 20071119,100002

See Attached Exhibit A.

which has the address of 499 Cellini Ave NE [Street]

Palm Bay [City]

, Florida 32907 [Zip Code]

("Property Address");

TOGETHER WITH all the improvements now or hereafter erected on tlie property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. Al l replacements and additions shall also be covered by this Security Instrument. Al l of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument; but, i f necessary to comply witli law or custoni, MERS (as nominee for Lender and Lender's successors and assigns) has tlie right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing or canceling this Security Instrument.

BORROWER COVENANTS tliat Borrower is lawfully seised of the estate hereby conveyed and has die riglit to mortgage, grant and convey die Property and diat the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.

THIS SECURITY INSTRUMENT combines unifonn covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a unifonn security insumuent covering real property.

UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest and Late Charge. Borrower sliall pay when due the principal of, and interest on.

the debt evidenced by die Note and late charges due under the Note. 2. Monthly Payment of Taxes, Insurance, and Other Charges. Borrower shall include in each mondily payment,

together with the principal and interest as set forth in the Note and any late charges, a sum for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or ground rents on the Property, and (c) premiums for insurance required under paragraph 4. In any year in which die Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required i f Lender still held the Security Instrument, each mondily payment shall also include either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a mondily charge instead of a mortgage insurance premium i f tills Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary, these items are called "Escrow Items" and the sums paid to Lender are called "Escrow Funds."

Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time ("RESPA"), except that the cushion or reserve pemiitted by RESPA for unanticipated disbursements or disbursements before the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium.

I f the amounts held by Lender for Escrow Items exceed tlie amounts permitted to be held by RESPA, Lender sliall account to Borrower for the excess futids as required by RESPA. I f the amounts of funds held by Lender at any time are not sufficient to pay the Escrow Items when due. Lender may notify the Borrower and require Borrower to make up the shortage as permitted by RESPA.

F L O R I D A FHA M O R T G A G E M E R S ITEM 970212(0709) (Paga lot 7)

Tlie Escrow Funds are pledged as additional security for all sums secured by tliis Security Instrument. I f Borrower tenders to Lender the full payment of all such sums. Borrower's account shall be credited with the balance remaining for all installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has not become obligated to pay to tlie Secretary, and Lender shall promptly refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be credited witli any balance remaining for all installments for items (a), (b), and (c).

3. Application of Payments. All payments under paragraphs 1 and 2 shall be applied by Lender as follows: FIRST, to tlie mortgage insurance premium to be paid by Lender to tlic Secretary or to tlie monthly charge by the Secretary instead of tlie montlily mortgage insurance premium; SECOND, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard insurance premiums, as required; THIRD, to interest due under the Note; ' FOURTH, to amortization of the principal of the Note; and FIFTH, to late charges due under the Note. 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now

in existence or subsequently erected, against any hazards, casualties, and contingencies, including fne, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also insure ail improvements on the Property, whether now in existence or subsequently erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried with companies approved by Lender. The insurance policies and any renewals sliall be held by Lender and shall include loss payable clauses in favor of, and in a form acceptable to, Lender.

In the event of loss. Borrower shall give Lender immediate notice by mail. Lender may make proof of loss i f not made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. Al l or any part of the insurance proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under tlie Note and tliis Security Instrument, first to any delinquent amounts applied in the order in paragraph 3, and then to prepayment ofprincipal, or (b) to tlie restoration or repair of tlie damaged Property. Any application of the proceeds to tlie principal shall not extend or postpone the due date of the monthly payments which are referred to in paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled tiiereto.

In tlie event of foreclosure of this Security Instrument or otlier transfer of title to the Property that extinguishes the indebtedness, ail riglit, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.

5. Occupancy, Presenation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument (or witliin sixty days of a later sale or transfer of the Property) and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall notify Lender of any extenuating circumstances. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property i f the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default i f Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. I f this Security Instmment is on a leasehold, Borrower shall comply with the provisions of the lease. I f Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing.

6. Condemnation. Tlie proceeds of any award or claim for damages, direct or consequential, in coiuiection with any condemnation or otlier taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to tlie reduction of tlie indebtedness under the Note and this Security Instrmneni, first to any delinquent amounts applied in die order provided in paragraph 3, and then to prepayment ofprincipal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are

F L O R I D A FHA M O R T G A G E

MERS ITEM 6702L3 (0709)

Great Docs (Page 3 of 7)

referred to in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding mdebtedness under the Note and this Security Instmment shall be paid to the entity legally entitled thereto.

7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing tliese payments.

I f Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property {such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in tlie Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2.

Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by tliis Security Instrument. These amounts shall bear interest from the date of disbursement at the Note rate, and at the option of Lender shall be immediately due and payable.

Borrower shall promptly discharge any lien which has priority over tliis Security Instrument unless Borrower: (a) agrees in writing to the payment of tlie obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of tlie lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. I f Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of tlie actions set forth above within 10 days of the giving of notice.

8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt.

(a ) Default. Lender may, except as limited by regulations issued by tlie Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if:

(i) Borrower defaults by failing to pay in full any monthly payment required by tliis Security Instrument prior to or on the due date of tlie next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument.

(b) Sale Without Credit Approval. Lender sliall. i f pemiitted by applicable law (including section 341(d) of the Gam-Sl. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument if:

(i) Al l or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purcliaser or grantee as his or her principal residence, or tlie purchaser or grantee does so occupy the Property, but his or her credit has not been approved in accordance with the requirements of the Secretary.

(c) No Waiver. I f circumstances occur that would peniiit Lender to require immediate payment in full, but Lender does not require such payments. Lender docs not waive its riglits witli respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure i f not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that i f this Secmity Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within eight months from the date hereof. Lender may, at its option require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to eight months from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding tlie foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary.

10. Reinstatement. Borrower has a right to be reinstated i f Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This riglit applies even after foreclosure proceedings are instituted. To reinstate tlie Security Instmment, Borrower sliall tender in a Imnp sum all amounts required to

FLORIDA FHA M O R T G A G E M E R S QreatDocs ITEM 9702L4 (0709) (Page 4 ot 7)

bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attoraeys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as i f Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings witliin two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect tlie priority of the lien created by this Security Instrument.

11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of tlie time of payment or modification of amortization of the sums secured by tliis Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of tlie original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by tiiis Security Instmment by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.

12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under tlie terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without that Borrower's consent.

13. Notices. Any notice to Borrower provided for in this Security Instmment shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender, Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.

14. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in wliich the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict sliall not affect other provisions of this Security Instrument or the Note which can be given effect without tlie conflicting provision. To this end the provisions of this Security Instmment and the Note are declared to be severable.

15. Borrower's Copy. Borrower shall be given one coiifonned copy of the Note and of tliis Security Instrument. 16. Hazardou.s Substances. Borrower shall not cause or pennit tlie presence, use, disposal, storage, or release of any

Hazardous Substances on or in tlie Property. Borrower shall not do. nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of tlie Property.

Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Eiiviroiuneiital Law of which Boirower has acmal knowledge. I f Borrower learns, or is notified by any govermnental or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting tlie Property is necessary. Borrower shall promptly take all necessary remedial actions in accordance with Enviromnental Law.

As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or liazardous substances by Environmental Law and tlie following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or enviroiunental protection.

NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues o f the

Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay tlie rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's

F L O R I D A FHA M O R T G A G E MERS OreMDoa ITEM 970215 (0708) (Paa'SolT)

breach of any covenant or agreement in tlie Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assigiuneiit for additional security only.

I f Lender gives notice of breach to Borrower (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant.

Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this paragraph 17.

Lender shall not be required to enter upon, take coiiu-ol of or inaintaiii tlie Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so 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 of Lender. This assignment of rents of tlie Property shall terminate when the debt secured by the Security Instmment is paid in full.

18. Foreclosure Procedure. I f Lender requires immediate payment in full under paragraph 9, Lender may foreclose tliis Security Instmment by judicial proceeding. Lender shall be entitled to collect ail expenses incuned in pursuing the remedies provided in tliis paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title evidence.

I f tlie Lender's interest in this Security Instrmnent is held by the Seaetary and the Secretary requires immediate payment in full under paragraph 9, the Secretary may invoke the nonjudicial power of sale provided in tlie Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seq.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act. Notlmig in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this paragraph 18 or applicable law.

19. Release. Upon payment of all sums secured by this Security Instmment, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instmment, but only i f the fee is paid to a tliird party for services rendered and the charging of the fee is permitted under applicable law.

20. Attorneys' Fees. As used in this Security Instmment and tiie Note, attorneys' fees shall include those awarded by an appellate court and any attorneys' fees incurred in a bankmptcy proceeding.

21. Jury Trial Waiver. The Borrower hereby waives any right to a trial by jury in any action, proceeding, claim, or counterclaim, whether in contract or tort, at law or in equity, arising out of or in any way related to this Security Instrument or the Note.

22. Riders to this Security Instrument. I f one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and supplement the covenants and agreement of tliis Security Instmment as i f tlie rider(s) were a part of this Security Instmment. [Check applicable box(es)].

I I Condominium Rider Q Graduated Payment Rider CD Growing Equity Rider

I I Plaimed Unit Development Rider Q Adjustable Rate Rider d ] Rehabilitatiou Loan Rider

Non-Owner Occupancy Rider | | Other [Specify]

F L O R I D A FHA M O R T G A G E

M E R S ITEM 9702L6 (070B)

OreatOocs (Page Sol7)

BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in pages 1 tlirough 7 of this Security Instruraent^^injJ'iti any rider(s) executed by Borrower and recorded with it.

Abdiel/Echeverria 493 Catalina Ave NW Palm Bay, FL 32907

-(Seal) -Borrower Isabel Santamaria

493 Catalina Ave NW Palm Bay, FL 32907

(Seal) -Borrower

(Seal) -Borrower

(Seal) -Borrower

_(Seal) ' (Seal) -Borrower -Borrower

Witness Witness

State of Fiodda

County 0^f^1^OCVrj2) _ ^ C P ^ The foregoing instrument was acknowledged before ine tliis day of VG-^ O '^^ -^^ X by

who is personally known to me or who has produced

as identification. ~ T ^

[ Notary Pubfit

- '

' , , , ' r " '>, . ' Y

FLORID.A FHA MORTGAGE MERS ITEM 9702L7 (Q70fl)

OrtalDoes (PaaaTel?)

AffirmatlveCertifiedAppraisers (321) 574-0281

Uni fo rm Resident ia l Appra isa l Repor t 094-5376646

File No, 08-02002

The purpose of this summary appraisal report is to provide the iender/ciieet with an accurate, and adequately supported, opinion of the market value of the subject property

~ [ Properly Address 499 Cellini Avenue NE City Palm Bay state FL Zip Code 32907

I Borrower Abdiel Echeverria Owner of Public Record Charlotte Willis, Guardian County Brevard

I Legal Description Port Malabar Unit 07, Lot 1, BIk 196, FBI 14-126 I Assessor s Parcel I 28-37-31 -FR-00196,0-0001,00 Tax Year 2007 R,E, Taxes S 3,449.00

I Neighborhood Name Po i lMaiabar Unit 07 I Occupant f I Owner ( 7 ) Tenant (x] Vacant

Map Reference MLS #341 / 28-37-31 Census Trad 713.21

r ) pot year D per montlt Special Assessments 1 None Knwn J PUD HOASN/A

Propetty Rights Apptaised B F e e Simple r j l ease t i o l d Q Otttet (descnbey

Assignment Type |X|Pufcnase Ttansaction Q Refinance Ttansaction [_]Other (describe)"

I Lender/Client Intercoastal Moi lgage Address 1 Purlieu Place, Wn te r Park, FL 32792 Suite 130

I Is the subiect property currently offered for sale or has it been offered for sale in the twelve months prior to the effective dale of this appraisal^ fx] Yes I Report data sourcefs) used, offering price(s), and date(s). The subject is listed through the MLS for $162,000 and is under contract for $167,000, The

I contract is below market. 11 (X jd id I J d d not ana yze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed.

I A copy of the contract was reviewed and no unusual terms and conditions were noted. The subject is under contract for $167,000. The

i contract is below market. Reporledly, the home was priced for a quick sale. However, previous listings were not available. I Contract Price S 167,000 Date of Contract 12/21/2007 Is the property seller the owner of public record? [X jYes L J N O Data Soufce(s) I is there any financial assistance {loan charges, sale concessions, gift or downpayment assistance, etc) to be paid by any party on behalf of the borrower? Q v e s [XJNO

If Yes, report the total dollar amount and describe the items to be paid, $ To the appraiser's knowledge, there are no financing I concessions.

I No te : Race a n d the rac ia l c o m p o s i t i o n of t he n e i g h b o r h o o d are n o t Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use%

Urban Suburban Property Values Increasing Stable J Declining AGE One-Unit 95

I BuiH-Up Over 75% fX Demand/Supply Shortage

1 JOvet Supply $(000) 2-4 Unit

i Gtowth Rapid [ X ] Stable J Slow Marketing Time J Over 6 mltis 125 low New Multi-Family

I Neighborhood Boundaries See Attached Addendum 350 High 40 Commercial

230 Pred, 20 Other

j Neighborhood Descripiioh See Attached Addendum

I Market Conditions (including support for the above conclusions) See Attached Addendum

I Dimensions 95 X 125 Area 11875 Sq Ft. Shape Rectangular View Typical Interior

I Specific Zoning Ciassification RS-2 Zoning Descripiion Single Family Residential

I Zoning Compliance [ X ] Legal J Legal Nonconforming (Grandfathered Use) J No Zoning J Illegal (describe) B v e s [ D N O If No, describe. The present use I Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use?

I of the subiect property is considered the highest and best use.

Ele ctricity IXl Water XI Oily Street Asphalt X i Ga n X Sanitary Sewer X) City Alley None 1 FEMA Special Flood Hazard Area D v e s [ X J N O F E M A Flood Zone X Are the utilities and off-site improvements typicaTlor the market area? [X j Yes [_J No If

FEMA Map* 1204040520 E FEMA Map Date 04/03/1989

No, describe. YCS [ X J N O If Yes, describe No I Are there any adverse site conditions or extetnai factors (easements, encroachments, environmental conditions, land uses, etc,)?

I easements, encroachments or other adversities which could affect the marketability of the subject were noted from an inspection. No I survey was provided. Base flood zone should Oe determined by a survey or certificate, A septic system is common for this market

I area and does not affect marketabiiity. GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/condition INTERIOR materials/condition

I Units One JOne wilh Accessory Unil ^ Concrete Slab J Crawl Space Foundation Walls Concrete/GOOd Floors Garoet/Tile/Good

I # of Stories One I Partial Basement CBS/Good Walls Drywall/Good

[X lDet jA t t , 0 sq, tl Roof Surface Shingle Aso /Avg Trim/Finish Wood/Good

J Existing J Proposed J Under Const Basement Finish N/A l Gutters S Downspouts None Bath Floor Tile/Good

I DoEiqn (Style) C o n t e m p R a n c h I Year Built 1997

J Outside FntryfExit H Sump Pump Window Type Aium, S, H,/Good Bath Wainscot Tile/Good Storm Sash/lnsulaled No / No None Car Storage

|XlDrivewa~y # ot Cars I Effective Age (Yrs) 5 Years ( ) Dampness Heating [ X J F W A

Screens Yes JWoodSlove(s) Driveway Surface C o n c r e t e

1 Drop Stair ] Stain _ Other I Fuel Flectric

Cooling [ X ] Central Air Conditioning"

jFirepiace(s)# JFence X j Garage * of Cars 2

I Floor scullie X j Patio/Deck Scrn ^ Porch Covered J Carport * of Cars

J Finished J Other JPoo! X lA t t I Del

I Appliances IXlRefrigerator Ix]Range/Oven Dishwasher [ J Disposal I ) Microwave [ x ] Washer/Dryer 1 1 Other (describe)

I Finished area above grade contains: 4 Bedrooms 3 Bath(s) 2,222 Square Feet of Gross Living Area Above Grade

I Additional features (special energy efficient items, etc). This concrete block 4/3 home has caroet/tile throughout and 10 foot ceilings, it features a two-

I car garage and screened patio.

I Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc). See Attached Addendum

I Are there any physical deficiencies or adverse conditions that affect the liyability, soundness, or structural integrity of the property? L l ves [ X J N O It Yes, describe. No physicai

I deficiencies or adverse conditions that would effect the iivabiiity, soundness or structural integrity of the subiect oroperty was noted.

I We are appraisers not soecifically trained in the home insoection field, therefore, the appraisal inspection should not be construed as a

I home insoection, [xlves CJNO If No, describe The home is an I Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc,)?

I existing single family residence which conforms to the neighborhood. It is similar in functional utility, style, condition, use and quality of

I construction and materials,

FrerWje Mac Form 70 March ZOOS rvodcccC Licind Act soRwafQ SOO Ztt 8727 VMAW acmeb com Fvigelcke

FaivXe Mae Form 1004 Match ZWS IM)* ,05 062906

AffirmativeCertifiedAppraisers (321) 574-0281

Uni fo rm Resident ia l Appra isa l Repor t 094-5376646

File No. 08-02002

There are 92 comparable properties currently offered for sale in the subjecl neighborhood ranging in price from t 151,000 to$ 249,900 There are 69 comparable sales in the subject n ighborhood within the past twelve months ranging in sale price trom I 150,000 los 249,900

COMPARABLE SALE NO. 1 COMPARABLE SALE NO 2 COMPARABLE SALE NO. 3

499 Cellini Avenue Address Palm Bay

NE 147 Browning Avenue NE Palm Bay

179 Anderson Avenue NE Palm Bay

617 Americana Boulevard NE Palm Bay

Proximity to Subjecl 0.75 miles SSE 0.67 miles SSE 0.81 miles E

Sale Price 167,000 212,000 255,000 267,500

Sale Ptice/Gioss Liv. Area 75.16 sg ft 98.33 sg.ft $ 122.42 sg. ft $ 125.12 sg.ft

Data Source(5) MLS/Public Records MLS/Public Records MLS/Public Records

VeriFcation Sourcefs) Ext Observation / MLS 449117 Ext Observation / MLS 458892 Ext Observation / MLS 462716

VALUE ADJUSTMENTS DESCRiPTiON DESCRIPTiON r(-) t Adjustment DESCRIPTION -(-) % Adjustment DESCRiPTiON -) S Ad|U5tmenl

Sale or Financing

Concessions

Conventional None

Conventional None

Conventional None

Date of SalefTime 12/21/2007 08/21/2007 08/01/2007 08/08/2007 Location Suburban Suburban Suburban Suburban

LeasehoidfFee Simple Fee Simoie Fee Simoie Fee Simple Fee Simple

Site 11875 Sq.Ft. 10000 Sq.Ft. 10000 Sq.Ft. 10300 Sq.Ft. View Typical interior Typical interior Typical interior Typical Interior Design (Style) Contemp Rancti Contemp Rancti Contemp Rancti Contemp Rancti Quality of Construction CBS/Good CBS/Good CBS/Good -20.800 CBS/Good -21,400 Actual Age 11+/- Years 3+/- Years 5+/- Years 3+/- Years Condition Good / 6 Eff Good / 1 Eff -8,000 Good / 2 Eff -6,000 Good / 1 Eff -8,000 Above Grade Room Count Gross Living AteaSO.OO

5,000 -5,000 7 3 2,222 sq.ft. 2,156 sg.ft 2,083 sq ft. 7,000 2,138 sg.ft

Basement & Finished

Rooms Below Grade

N/A N/A

N/A N/A

N/A N/A

N/A N/A

Functional Utility Typical Typical Typical Typical HeatinqyCoolinq FWA C/Air FWA C/Air FWA C/Air FWA C/Air Energy Efficient items Std. for Quality Std. for Quality Std. for Quality Std. for Quality Garage/Carport 2 Car Garage 2 Car Garage 2 Car Garage 2 Car Garage PorchfPatiofDeck ScrnPatic.Pcrcti Patio, Porch ScrnPatio, Porch ScrnPatiOjPorch Fireplace None None None None Fence / Pool None None Pool -20,000 Pool -20,000

Net Adjustment (Total) 3,000 44,800 49.400 Adjusted Sale Price of Comparables

Net Adj -1.4% Gross Adi 6.1 209,000

Net Adj -17,6% Gross Adi 23,1% JlCa - mUj, . . . I A, J a.CJCJ ,\J\J\J ^,kJ33 mu|, CJ. , /!

I J did not research the sale or transfer history of the subject property and comparable sales if not, explain

210.200 Net Adj, -18,5% Gross Adi 18,5% 218,100

My research [ j did [ X j did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.

Data source(s)MLS/Public Record

My research D d i d [x]did not reveal any prior sales or transfers of Ihe comparable sales for the year prior to (he dale of sale of the comparable sale.

Data source(5) MLS/Public Record Report the results of the research and analysis of the prior sale or transfer history of the subject property and com aarabie sales (report additional prior sales on paqe 3),

ITEM SUBJECT COMPARABLE SALE NO, 1 COMPARABLE SALE NO 2 COMPARABLE SALE NO, 3 Date of Prior Sale/Transfer None in past 3 years None in past year None in oast year None in past year Price of Prior Sale/Transfer N/A N/A N/A N/A Data Sourcefs) MLS/Public Record MLS/Public Record MLS/Public Record MLS/Public Record Effective Date of Data Sourcefs) 02/12/2008 02/12/2008 02/12/2008 02/12/2008 Analysis of prior sale or transfer history of the subjecl property and comparable sales The Subject has not been for sale or SOid for the past three years prior to the effective date of this appraisal other than noted above. None of the comparable sales have been for sale or sold for the past year prior to the effective date of this appraisal other than noted above,

Summary of Sales Comparison Approach, See Attached Addendum

indicated Value by Sales Comparison Approach $ 200,000

Indicated Value by Sales Comparison Approach $ 200,000 Cost Approach (if developed) $ 203,800 Income Approach (if developed) $ N/A

Due to the avaiiabiiity of recent sales of comparable properties, the Sales Comparison Approach is given the greatest weight. The value is supported by the Cost Approach, The income Approach was not found to be applicable to the subiect in an owner occupied neighborhood, This appraisal is made [ X ] 'as is," I I subjecl to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,

D subject to the fotlowing repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or D subject to the following required

inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: See Attached Addendum

Based on a complete visual inspection of ttie interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting

conditions, and appraiser's certif ication, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is S 200,000

as of 02/12/2008 , which is the date of inspection and the effective date of this appraisal, FreddB Mac Foini 70 March ZOOS PfoOuceO asmg ACI soflwari,, 800 73t 8777 * * * acwHrbcon, Fame Mae Fomi 1004 MatCtl ZOOS

Page 7 07 6 ioor_05 0629O6

Affirmative

AffirmativeCertifiedAppraisers (321) 574-0281 094-5376646

Un i fo rm Resident ia l Appra isa l Repor t nieNo. 08-02002 Significant tax increases often occur when the property is sold. The Taxable Value and Taxes may reflect Exemptions, Classifications and Value Limitations that will be removed at the time of sale. Homestead Exemptions, Agricultural Classifications, and Value Limitations are NOT transferable to the new owner. Upon sale, a property's value is reset to market and the new owner must reapply for Homestead Exemption and Agricultural Classification.

THIS IS NOT A HOME INSPECTION REPORT. The appraiser has performed a visual inspection of readily accessible areas only (excluding attic areas), for readily observable conditions only. THE APPRAISAL INSPECTION IS NOT TO BE RELIED UPON TO DISCLOSE CCNDITICNS AND/CR DEFECTS IN THE PROPERTY. We are appraisers not specifcally trained in the home inspection field, should concerns arise a licensed home ihspector should be contacted.

The Intended User of this appraisal report is Atlas Financial. The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction, subject to the stated Scope of Work, purpose of the appraisal, reporting reguirements of this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser.

The Scope of Work for the appraisal is described below. It indicates the type and extent of research, property inspection and analysis that was applied to arrive at the reported opinions and conclusions contained in the appraisal report,

The subiect property and neighborhood were visually inspected by the appraiser on the Effective Date of the appraisal, A review of data related to the subject and the comparable sales used in the report were researched from all (or some) of the following sources: County Property Appraisers Websites. Aerial Maps and Plat Books, County and Municipal zoning ordinances and maps, FEMA Flood Maps, Multiple Listing Services, Appraisal Files, Developer Brochures and other Cn-Line (electronic) sales data services subscribed to by the appraiser. An exterior and interior visual inspection of the Subject Property was made. This visual inspection is considered to be a walk around and walk through of the property, with a viewing of readily observable areas (excluding attic and crawl spaces if applicable). The viewing is intended to be sufficient enough to readily identify relevant physicai characteristics, overall construction and component guaiity and to be able to assess the overaii physical condition, or needed repairs as they relate to an opinion of value. The visual inspection is not to be considered a "Home Inspection" but a less technical field report geared towards more general conditions and obvious features. It is recommended that an inspection by a professional home inspector be obtained if a more detailed analysis of the mechanical, structural. HVAC system, eleetricai, roof or plumbing is required to aide the intended user in making informed decisions about the property. Next, the applicable approaches to value were considered and applicable data was analyzed. After assembling and analyzing the available data, and considering the strengths and weakness of the data and each approach, an opinion of market value was formed and reported,

The analyses, opinions, and conclusions were developed, and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) as well as the reguirements of the State of Florida for Certified Appraisers,

This is to be considered a Summary Appraisal Report, as described by USPAP, As such, the format is abbreviated and some appraisal data has been retained in our files,

COST APPROACH TO VALUE (not requi red by Fannie Mae)

Provide adequate information for the lender/client to replicate the below cost figures and calculations

Support for ttie opinion of site value (summary of comparable land sales or other methods for estimatiog site value) Research shows recent sales in the immediate area

ranging from $19,000 to $20,000, The opinion of site value of $20,000 is considered reasonable based on these sales,

ESTIMATED REPRODUCTION OR [X] REPLACEMENT COST NEW OPINION OF SITE VALUE = $ 20,000 Source of cost data Local Builder's Cost Data Dwelling 2,222 Sq, Ft, @ $ 75,00 = s 166,650 Oualitv rating from cost service Good Effective date of cost data 2007 Sq, Ft, @ S J

Comments on Cost Approach (gross living area calculations, depteciation, etc) Patio, Porch included When calculating the replacement cost for the subiect we Garage/Carport 452 Sg, FL IS> S 40,00 , $ 18,080 reviewed our cost database and the Marshall & Swift Residential Total Estimate of Cost-New . s 184,730 Cost Handbook which was adjusted to the local market. These Less 60 Physical Functional External cnsts w n r e compared to estimates nrenared bv local contractors Deoreciation $15,936 . $ ( 15,936) of similar size and guaiity homes in the area and were found to be Depreciated Cost of Improvements , $ 168,794 in line with the local market. "As-is" Value of Site Improvements . $ 15,000

Estimated Remaining Economic Life (HUD and VA oniv) 55 Years INDICATED VALUE BY COST APPROACH, , , = $ 203,800 INCOME APPROACH TO VALUE (not requi red by Fannie Mae)

Estimated Monthly Market Rent $ N/A X Gross Rent Multiplier N/A N/A Indicated Value by income Approach

Summary of Income Approach (including support for market rent and GRM) The income approach Is not required.

PROJECT INFORMATION FOR PUDs (if appl icable)

Is the developer/builder in control of the Homeowners' Association (HOA)^ Q Tes L J No Unit tvpe(s) D Detached Attached

Provide the following informalion for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.

Legal name of project **'' *********SUBJECT IS NOT LOCATED IN A PUD*' Total number of phases Total number of units Total number of units sold

Total number of units rented Total number of units for sale Data source(s)

Was the project created by the conversion of an existing building(5) into a PUD? J No If Yes, date of conversion.

Does the project contain any multi-dwelling units? I Yes No Data source(s)

[ Wes [ ] n o If No, describe the status of completion. Are the units, common elements, and recreation facilities complete?

Are the common elements leased to or by the Homeowners' Association? | Jves 1 Ino If Yes. describe the rental terms and options

Describe common elements and recreational facilities.

Freddie Mac Form 70 March 2005

AffirmativeCertifiedAppraisers (321) 574-0281

Uni fo rm Resident ia l Appra isa l Repor t 094-5376646

File No. 08-02002

This report form is designed to reoort an aooraisal of a one-unit orooerty or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this aopraisai report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted.

S C O P E OF WORK: The scope of work for this aporaisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject oroperty, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report.

INTENDED U S E : The intended use of this appraisal report is for the lender/client to evaluate the property that Is the subject of this appraisal for a mortgage finance transaction.

INTENDED U S E R : The intended user of this appraisal report is the lender/client.

DEFINITION OF MARKET V A L U E : The most probable price which a oroperty should bring in a competitive and open market under ail conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowiedgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are tyoically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto: and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.

'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment.

S T A T E M E N T OF ASSUMPTIONS AND LIMITING CONDITIONS: The aopraiser's certification in this report is subject to the following assumptions and limiting conditions:

1. The appraiser will not be responsible for matters of a legal nature that affect either the oroperty being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title.

2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the aopraiser's determination of its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this aopraisai report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.

4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as othen/vise required by law.

5. The aopraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisai. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property.

6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner.

Yedde Mac Fom 70 Mardi 2005 Producefl usinfl ACt soflware^MO 234 8727 avw adweb.com Fanne Mae Fofm 10O4 March 2005 1004_05 062906

AffirmativeCertifiedAppraisers (321) 574-0281 094-5376646

Un i fo rm Resident ia l Appra isa l Repor t File No. 08-02002

APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

1. I have, at a minimum, developed and reported this appraisal In accordance with the scope of work requirements stated in this appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the Iivabiiity, soundness, or structural integrity of the property.

3. I performed this appraisai in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the supject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated In this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report.

7 I selected and used comparable sales that are locatlonally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales.

10. I verified, from a disinterested source, ail information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. j

1 1 . 1 have knowledge and experience in appraising this type of property in this market area.

12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct.

16 I s l a t e d in t l i is a p p r a i s a l report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and iimlting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did no