CFN 20160107006 OR BK 28193 PG 103 RECORDED 03/30/2016 11:27:28 Palm Beach County, Florida AMT 500,000.00 MTG DOC 1,750.00 INTANGIBLE 1,000.00 Sharon R. Bock CLERK COMPTROLLER 0103?0110; (8Pgs) 0 w) MORTGAGE 0 TH IS MORTGAGE ("Security Instrument") is given on this gag); 2016. The Mortgagor is Chance Anthem, LLC, a Florida Limited Liability Company, with power and authority to protect, conserve, sell, lease encumber and otherwise manage and dispose of the property described herein, This Security Instrument is given to ABK South Properties, LLC, a Florida Limited Liability Company, whose mailing address is IS Fisher Lane, Suite 200, White Plains, NY ?0605 BORROWER owes Lender the principal sum of FIVE HUNDRED THOUSAND OLLARS AND ZERO CENTS debt is evidenced by Borrower?s Bailoon Promissory Note dated the same date as this ecurity Instrument which provides for consecutive interest oniy payments due the 1? each month hereafter beginning April 23, 20] 6, toward the full debt, if not paid earlier. rity Instrument secures to Lender: the repayment of the debt evidenced by the Note, and all renewals, extensions and modi?cations; the payment of all other sums, it . dvanced under paragraph 7 to protect the security oftbis Security Instrument; and nce ot?Borrower's covenants and agreements under this Security Instrument and the Note. rpose, Borrower does hereby mortgage, grant and convey to Lender the r?ed'c? following 6 ac roperty located in Palm Beach County, Florida: 3 Barbara Drive, Wettington, FL 33414 ibit A attached hereto for Legal Description all the improvements now or hereafter erected on the property, and ali easements, rights, app rents, royaities, mineral, oil and gas rights and profits, water rights and stoctr and a res now or hereafter a part of the property. All replacements and additions shat} also be cred this Security Instrument. All of the foregoing is referred to in this Security Instrument as perty". BORROWER Borrower is lawfully seised of the estate hereby conveyed and has the right to mortga and convey the Property and that the Property is unencumbered, except for record. Borrower warrants and will defend generaiiy the title to the Property against Ed demands, subject to any encumbrances of records. This SECURITY INSTRU om ines uniform covenants for national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering reat property. UNIFORM COVENANTS. Borrowar and Lender covenant and agree as follows: 1. Payment of Prinei al and Interest- Pre avment and Late Char es. Borrower shall pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Funds for Taxes and Insurance. Borrower shall provide the Lender with written proof of payment of insurance and real estate taxes within thirty (30) days of their respective due dates and in the default of same and subject to applicable law or to a further written waiver by Lender, Borrower may be required to pay to Lender on the day payments are due under the Note, untii the Note is paid in full, a sum ("Funds") equal to one-twelfth of: yearIy taxes and assessments which may attain priority over this Security Instrument; yearly leasehold payments or ground rents on the Property, if any, yearly hazard insurance premiums; and yearly mortgage insurance premiums, if any. These items are called "escrow items". Lender may estimate the Funds due on the basis of current data and reasonabie estimates of future escrow items. Page I of 7 CFN 20160107006 BOOK 28193 PAGE 104 2 OF 8 2 The funds shall be held in an institution, the deposits or accounts of which are insured or guaranteed by a Federal or State agency (including Lender ifLender is such an institution). Lender 0 shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lender pays Borrower interest on the funds and applicable law permits Lender to make such a charge. Borrower and Lender may agree in writing that interest shall he paid 011 the Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured ?y this Security instrument. If the amount of the Funds held by Lender, together with the ?tture payments of ds payable prior to the due dates of the escrow items, shall exceed the amount required to pay he escrow items when due, the excess shall be, at Borrower?s option, either repaid to or credited to Borrower on payments of Funds. If the amount of the Funds held is not suf?cient to pay the escrow items when due, Borrower shall pay to Lender any mm?ssary to make up the de?ciency in one or more payments as required by Lender. DJ nt in full of all sums secured by this Security Instrument, Lender shall eryny Funds held by Lender. if under paragraph l9 the Property is sold or Lender shall apply, no later than immediately prior to the sale of the Property or its acqui to: ider, any Funds held by Lender at the time of application as a credit against the so by this Security instrument. - avrnents. Unless applicable law provides otherwise, all payments raphs I and 2 shall be applied; ?rst, to late charges due under the Note; second, to i er the note, and last to principal due. 4. Charges: Liens. . wer shall pay all taxes, assessments, charges, ?nes and impositions attributable to nerty which may attain priority over this Security Instrument, manner provided in paragraph directly to the person owed pa shall furnish to Lender all notices of Borrower makes these payments directly, Borrower shall furnish to Lende re idencing the payments. Borrower shall discharge any lien which has priority over this Security Instrument unless Borrower: agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Lender may give Borrower a notice identifying the lien Borrower shall satisfy the lien or take one or more of the actions set forth above within ten (18) days of the giving of notice. 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by ?re, hazards included within the tonic "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires, The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall include a Page 2 of 7 CFN 20160107006 BOOK 28193 PAGE 105 3 OF 8 standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall give to Lender all receipts of paid premiums and renewal notices. in the event of loss, Borrower shall give prompt notice to the insurance carrier and 0 Lender. Lender may make proof of loss if not made by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. if Borrower abandons the Property or does not answer within thirty (30) days, a notice from Lender hat the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by