Legal Document: M&T Bank v. Mark Vecchiarello, Jessica M Vecchiarello Aka, Jessica Vecchiarello, State Tax Commission

On July 03, 2024 a SUMMONS + COMPLAINT - Redacted per 22 NYCRR §202.5(e) was filed involving a dispute between M&T Bank, and Jessica M Vecchiarello Aka, Jessica Vecchiarello, Mark Vecchiarello, State Tax Commission, for Real Property - Mortgage Foreclosure - Residential in the District Court of Rockland County.

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FILED: ROCKLAND COUNTY CLERK 07/03/2024 08:51 AM INDEX NO. 033784/2024
NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 07/03/2024

SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF ROCKLAND
M&T Bank, SUMMONS

Plaintiff, INDEX NO.:

vs. MORTGAGED PREMISES:

Mark Vecchiarello; Jessica M. Vecchiarello a/k/a 18 Kendall Drive
Jessica Vecchiarello; New York State Department New City, NY 10956
of Taxation and Finance; John Doe #1 through #6,
and Jane Doe #1 through #6, the last twelve names Section: 51.8 Block: 3 Lot: 9
being fictitious, it being the intention of Plaintiff to
designate any and all occupants, tenants, persons or
corporations, if any, having or claiming an interest
in or lien upon the premises being foreclosed
herein,

Defendants.
THE ABOVE NAMED DEFENDANTS:

YOU ARE HEREBY SUMMONED to answer the Complaint in the above captioned action and
to serve a copy of your Answer on the Plaintiff’s attorney within twenty (20) days after the service of
this Summons, exclusive of the day of service, or within thirty (30) days after completion of service
where service is made in any other manner than by personal delivery within the State. The United States
of America, if designated as a Defendant in this action, may answer or appear within sixty (60) days of
service hereof. In case of your failure to appear or answer, judgment will be taken against you by default
for the relief demanded in the Complaint.
Rockland County is designated as the place of trial. The basis of venue is the location of the
mortgaged premises foreclosed herein.

Date:__July 2, 2024_____ By: ______________________
Veronica M. Rundle, Esq.
McCalla Raymer Leibert Pierce, LLC
420 Lexington Avenue, Suite 840
New York, New York 10170
Phone: 347-286-7409
Fax: 347-286-7414
Attorneys for Plaintiff,
M&T Bank
File No. 23-14553NY

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Special Summons Requirement Pursuant to RPAPL §1320

NOTICE
YOU ARE IN DANGER OF LOSING YOUR HOME

If you do not respond to this Summons and Complaint by serving a copy
of the Answer on the attorney for the mortgage company who filed this
foreclosure proceeding against you and filing the Answer with the Court,
a default judgment may be entered and you can lose your home.

Speak to an attorney or go to the Court where your case is pending for
further information on how to answer the Summons and protect your
property.

Sending a payment to your mortgage company will not stop this
foreclosure action.

YOU MUST RESPOND BY SERVING A COPY OF THE ANSWER ON
THE ATTORNEY FOR THE PLAINTIFF (MORTGAGE COMPANY)
AND FILING THE ANSWER WITH THE COURT.

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NOTICE TO DEFENDANT

DURING THE CORONAVIRUS EMERGENCY, YOU
MIGHT BE ENTITLED BY LAW TO TAKE ADDITIONAL
DAYS OR WEEKS TO FILE AN ANSWER TO THIS
COMPLAINT.

PLEASE CONTACT YOUR ATTORNEY FOR MORE
INFORMATION.
IF YOU DON'T HAVE AN ATTORNEY,
PLEASE VISIT

http://ww2.nycourts.gov/admin/OPP/foreclosures.shtml

https://www.nycourts.gov/courthelp/Homes/foreclosures.shtml

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AVISO A DEMANDADO

DURANTE LA EMERGENCIA DEL CORONAVIRUS,
ES POSIBLE QUE USTED TENGA DERECHO POR LEY
A TOMAR DÍAS O SEMANAS ADICIONALES
PARA PRESENTAR UNA RESPUESTA
A ESTA PETICIÓN

POR FAVOR CONTACTE A SU ABOGADO PARA MAS
INFORMACÍON.

SI USTED NO TIENE UN ABOGADO,
VISITE

http://ww2.nycourts.gov/admin/OPP/foreclosures.shtml

https://www.nycourts.gov/courthelp/Homes/foreclosures.shtml

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HELP FOR HOMEOWNERS IN FORECLOSURE
New York State Law requires that we send you this notice about the foreclosure
process. Please read it carefully.
SUMMONS AND COMPLAINT
You are in danger of losing your home. If you fail to respond to the Summons and
Complaint in this foreclosure action, you may lose your home. Please read the
Summons and Complaint carefully. You should immediately contact an attorney or
your local legal aid office to obtain advice on how to protect yourself.
SOURCES OF INFORMATION AND ASSISTANCE
The State encourages you to become informed about your options in foreclosure. In
addition to seeking assistance from an attorney or legal aid office, there are
government agencies and non-profit organizations that you may contact for
information about possible options, including trying to work with your lender during
this process.
To locate an entity near you, you may call the toll-free helpline maintained by the
New York State Department of Financial Services at 1-877-BANK-NYS (1-877-226-
5697) or visit the department’s website at: http://www.dfs.ny.gov
RIGHTS AND OBLIGATIONS
YOU ARE NOT REQUIRED TO LEAVE YOUR HOME AT THIS TIME. You have
the right to stay in your home during the foreclosure process. You are not required
to leave your home unless and until your property is sold at auction pursuant to a
judgment of foreclosure and sale.
Regardless of whether you choose to remain in your home, YOU ARE REQUIRED
TO TAKE CARE OF YOUR PROPERTY and pay property taxes in accordance with
state and local law.
FORECLOSURE RESCUE SCAMS
Be careful of people who approach you with offers to “save” your home. There are
individuals who watch for notices of foreclosure actions in order to unfairly profit
from a homeowner’s distress. You should be extremely careful about any such
promises and any suggestions that you pay them a fee or sign over your deed. State
law requires anyone offering such services for profit to enter into a contract which
fully describes the services they will perform and fees they will charge, and which
prohibits them from taking any money from you until they have completed all such
promised services.

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NOTICE TO TENANTS OF BUILDINGS IN
FORECLOSURE
New York State Law requires that we send you this notice about the foreclosure
process. Please read it carefully.

We, M&T Bank, are the foreclosing party and are located c\o our servicer, MT
Consumer, at One Fountain Plaza, Buffalo, NY 14203. We can be reached at (800)
724-1633.

The dwelling where your apartment is located is the subject of a foreclosure
proceeding. If you have a lease, are not the owner of the residence, and the lease
requires payment of rent that at the time it was entered into was not substantially
less than the fair market rent for the property, you may be entitled to remain in your
home until 90 days after any person or entity who acquires title to the property
provides you with a notice as required by section 1305 of the Real Property Actions
and Proceedings Law. The notice shall provide information regarding the name and
address of the new owner and your rights to remain in your home. These rights are
in addition to any others you may have if you are a subsidized tenant under federal,
state or local law or if you are a tenant subject to rent control, rent stabilization or a
federal statutory scheme.

ALL RENT-STABILIZED TENANTS AND RENT-CONTROLLED TENANTS
ARE PROTECTED UNDER THE RENT REGULATIONS WITH RESPECT TO
EVICTION AND LEASE RENEWALS. THESE RIGHTS ARE UNAFFECTED BY
A BUILDING ENTERING FORECLOSURE STATUS. THE TENANTS IN RENT-
STABILIZED AND RENT-CONTROLLED BUILDINGS CONTINUE TO BE
AFFORDED THE SAME LEVEL OF PROTECTION EVEN THOUGH THE
BUILDING IS THE SUBJECT OF FORECLOSURE. EVICTIONS CAN ONLY
OCCUR IN NEW YORK STATE PURSUANT TO A COURT ORDER AND AFTER
A FULL HEARING IN COURT.

If you need further information, please call the New York State Department of
Financial Services toll-free helpline at 1-877-BANK-NYS (1-877-226-5697) or visit
the Department's website at http://www.dfs.ny.gov.

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SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF ROCKLAND
M&T Bank, COMPLAINT FOR MORTGAGE
FORECLOSURE
Plaintiff,
INDEX NO.:
vs.
MORTGAGED PREMISES:
Mark Vecchiarello; Jessica M. Vecchiarello a/k/a
Jessica Vecchiarello; New York State Department
18 Kendall Drive
of Taxation and Finance; John Doe #1 through #6,
New City, NY 10956
and Jane Doe #1 through #6, the last twelve names
being fictitious, it being the intention of Plaintiff to
Section: 51.8 Block: 3 Lot: 9
designate any and all occupants, tenants, persons or
corporations, if any, having or claiming an interest
in or lien upon the premises being foreclosed
herein,

Defendants.

Plaintiff, M&T Bank (“Plaintiff”), by its Counsel, McCalla Raymer Leibert Pierce, LLC, and for its

Complaint against the above named Defendants, alleges as follows:

1. Plaintiff, a Banking Corporation, having an address at One Fountain Plaza, Buffalo, NY

14203, is the owner and holder of the note and mortgage to be foreclosed in this action, or has been

delegated the authority to institute a mortgage foreclosure action by the owner and holder of the subject

note and mortgage. Plaintiff is duly licensed and/or organized under the laws of the United States of

America or a state therein.

2. On or about September 14, 2019, Defendants Mark Vecchiarello and Jessica M.

Vecchiarello executed and delivered to Manufacturers and Traders Trust Company a certain note (the

“Note”) whereby they bound themselves in the amount of $160,000.00, together with accrued interest on

the unpaid principal balance and such other amounts until paid, pursuant to the terms of the Note. The

Note bears a variable interest rate. A copy of the Note is attached hereto as Exhibit “A”.

3. To secure payment of the Note, Defendants Mark Vecchiarello and Jessica M. Vecchiarello

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granted a mortgage (the “Mortgage”) against the property owned by them located at 18 Kendall Drive ,

New City, NY 10956 (the “Mortgaged Premises”) to Manufacturers and Traders Trust Company in the

amount of $160,000.00 on September 14, 2019. The Mortgage was recorded in the Rockland County

Clerk's Office on September 27, 2019, as Instrument No. 2019-00027647 at which time the mortgage

recording tax was duly paid. Manufacturers and Traders Trust Company is also known as M&T Bank.

A copy of the Mortgage and the Restated Organization Certificate is attached hereto as Exhibit “B”.

4. The tax map designation of the Mortgaged Premises is known as or part of Section: 51.8

Block: 3 Lot: 9. The full legal description of the Mortgaged Premises is attached hereto as Exhibit “C”.

5. The Defendant(s) referenced in paragraphs 2 and 3 above have failed to comply with the

terms of the Note and/or Mortgage by failing to pay the monthly payment amount due on February 8,

2023 and each subsequent payment that has come due thereafter, together with any other amounts for

taxes, assessments, water rates, escrow, insurance premiums and/or any other charges that have come

due and are payable under the terms of the Note and/or Mortgage since the date of default set forth above.

6. The requisite contractual notice, if applicable, was sent by Plaintiff's servicer in

accordance with the terms of the Mortgage notifying the borrower(s) of the default, advising of the

actions necessary to cure said default, the date by which to cure being at least thirty (30) days from the

date of said notice, and advising of the borrower(s)' right to present a defense to the lawsuit. Despite the

written demands, the default has not been cured. As a result, Plaintiff hereby elects and demands that the

entire principal sum due on the Note, along with all unpaid interest, advances, fees and costs are

accelerated and are now due and payable.

7. As of the date of default, the principal balance due and owing pursuant to the terms of the

Note and/or Mortgage is $159,986.07, together with accrued interest, taxes, assessments, water rates,

maintenance, late fees, insurance premiums, escrow advances, reasonable attorneys' fees, and any other

charges that are validly due and owing pursuant to the terms of the Note and/or Mortgage, to be calculated

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and established at the time Plaintiff applies for Judgment of Foreclosure or Sale.

8. In order to protect its security, Plaintiff (directly and/or through its servicer or agent) has

made advances, or may be obligated during the pendency of this action to make advances, for the

payment of taxes, insurance premiums and other necessary charges affecting the Mortgaged Premises.

Any such sums advanced under the terms of the Note, together with interest (to the extent allowed), are

to be added to the sum otherwise due on and be deemed secured by the Mortgage.

9. All Defendants herein may have, or claim to have, some interest in, or lien upon the

Mortgaged Premises or some part thereof, which interest or lien, if any, has accrued subsequent and/or

subject to the lien of Plaintiff's Mortgage.

10. The Defendants identified more fully in Exhibit “D” are made parties solely for the

reasons set forth in said Exhibit.

11. The Defendants identified more fully in Exhibit “E” are governmental entities made

parties solely by reason of the facts set forth in said Exhibit.

12. Defendants, John Doe #1 through 6 and Jane Doe #1 through 6, are unknown occupants,

if any exist, of the Mortgaged Premises being foreclosed or may be any persons or entities of any kind

otherwise claiming a lien or interest in or against the Mortgaged Premises.

13. Plaintiff sent the notices required by RPAPL § 1304, dated March 28, 2024 to Mark

Vecchiarello and Jessica M. Vecchiarello regular and certified mail to the last known address of the

borrowers and to the residence that is the subject of the Mortgage. Each notice, in at least fourteen point

type, included a list of housing counselors as required by RPAPL § 1304. Further, Plaintiff has complied

with the applicable provisions of RPAPL §1306 in that the notice required by RPAPL §1304, if necessary,

was filed with the superintendent of banks within three business days of mailing. If applicable, copies of

the registration(s) are attached hereto as Exhibit “F”.

14. Plaintiff has complied with the Banking Law, specifically §§595-a, 6-l and/or 6-m, if

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applicable.

15. In the event this action proceeds to a judgment in foreclosure and sale of the Mortgaged

Premises, Plaintiff requests that the Mortgaged Premises be sold subject to any statement of facts an

inspection of the Mortgaged Premises would disclose or an accurate survey would show; covenants,

restrictions, easements and public utility agreements of record, if any; building and zoning ordinances

and possible violations of same; any rights of tenants or persons in possession of the Mortgaged Premises;

any equity/right of redemption of the United States of America within 120 days of the sale; and, any prior

mortgages and liens.

16. If the Mortgage secures more than one property, Plaintiff requests the judgment in

foreclosure provide for the sale of the properties in a particular order to the extent necessary to satisfy

the amounts due as determined by this Court.

17. Pursuant to the terms of the Mortgage, Plaintiff is entitled to recover attorneys' fees and

costs incurred in connection with this action.

18. All Exhibits attached hereto are expressly incorporated and made part of the Complaint

with the same force and effect as if they were set forth herein.

19. There are no other pending proceedings to enforce the referenced Note and Mortgage. To

the extent there are any prior proceedings, it is the intention of the Plaintiff that any such action be

discontinued and the instant action be the only pending action.

WHEREFORE, Plaintiff, M&T Bank, demands judgment:

1. Adjudging and decreeing that any advances Plaintiff or its servicer or agent made or will make

pursuant to the terms of the Note and/or Mortgage for the payment of taxes, insurance premiums and

other necessary charges affecting the Mortgaged Premises, together with interest (to the extent allowed),

are valid liens against the Mortgaged Premises.

2. Fixing the amounts due the Plaintiff for all amounts due under the Note and/or Mortgage,

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including, but not limited to principal, interest, costs, late charges, expenses of sale, allowances and

disbursements, reasonable attorney's fees (to the extent allowed under the Note and/or Mortgage) and all

other monies advanced and paid which are secured by the Mortgage;

3. That the Defendants and all parties claiming by, through or under them and every other person or

entity whose right, title, conveyance or encumbrance is subsequent to or subsequently recorded, or whose

lien is being challenged by being a Defendant in this action, be barred and foreclosed of and from all

right, claim, lien, interest or equity of redemption in and to said Mortgaged Premises;

4. That said Mortgaged Premises, or such part thereof as may be necessary to raise the amounts due

herein, be decreed to be sold according to law subject to any statement of facts an inspection of the

Mortgaged Premises would disclose or an accurate survey of the Mortgaged Premises would show; as

further discussed in the Complaint above;

5. That out of the monies arising from the sale of the Mortgaged Premises, the Plaintiff may be paid

the amounts due on the Note and/or Mortgage, plus all other amounts provided for and allowed under

the judgment, including attorneys' fees and costs to be incurred in connection with this action, together

with any sums expended as aforesaid, with interest as allowed by law upon any advances from the dates

of the respective advance payments, to the extent allowed;

6. That any Defendants referenced in paragraph 2 of this Complaint (and any original or subsequent

obligors so named in this action) may be adjudged to pay any deficiency that may remain after applying

all of said monies so applicable thereto, unless the debt has been listed and discharged in a bankruptcy

proceeding with respect to said Defendant;

7. That either or any of the parties to this action may become a purchaser upon such sale;

8. That this Court, if requested, forthwith appoint a receiver of rents and profits of said Mortgaged

Premises with the usual powers and duties;

9. In the event Plaintiff possesses any other liens against the Mortgaged Premises, they shall not be

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merged with the same/instant matter. Plaintiff specifically reserves its right to share in any surplus monies

arising from the sale of the Mortgaged Premises by virtue of its position as a judgment or other lien

creditor, excluding the mortgage being foreclosed herein.

10. That the plaintiff be granted such other and further relief as may be just, equitable and proper.

Date:__July 2, 2024______ By: ______________________
Veronica M. Rundle, Esq.
McCalla Raymer Leibert Pierce, LLC
420 Lexington Avenue, Suite 840
New York, New York 10170
Phone: 347-286-7409
Fax: 347-286-7414
Attorneys for Plaintiff,
M&T Bank
File No. 23-14553NY

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SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF ROCKLAND

M&T Bank,

Plaintiff,

vs.

Mark Vecchiarello; et al,

Defendants.

SUMMONS & COMPLAINT
FOR MORTGAGE FORECLOSURE

McCalla Raymer Leibert Pierce, LLC
420 Lexington Avenue, Suite 840
New York, New York 10170
Phone: 347-286-7409
Fax: 347-286-7414
Attorneys for Plaintiff: M&T Bank
File No. 23-14553NY
_____________________________________________________________
Pursuant to 22 NYCRR 130-1.1, the undersigned, an attorney admitted to practice in the Courts of New York State, certifies that upon information and
belief and reasonable inquiry, the contentions contained in the annexed document are not frivolous.
Dated:

Service of a copy of the within is hereby admitted.

Dated:
_______________________________________________________
Attorney(s) for:

PLEASE TAKE NOTICE

 that the within a (certified) true copy of a
entered in the office of the clerk of the within named Court on 2024
 that an Order of which the within is a true copy will be presented for settlement to the
Hon. On of the judges of the within named Court,
At
on 2024, at
Dated:

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EXHIBIT A
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M&THomeEquity Account Agreement and Disclosure Statement
Manufacturers and Traders Trust Company

M&TBank
Date : September 14, 2019
Draw Period Expiration Date : September 14, 2029

Borrower l's Name Mark Vecchiarello
Borrower l's Address 18 Kendall Dr, NewCity, NY 10956

Address of Mortgaged Property: 18 Kendall Drive, NewCity, Rockland, NY 10956
Credit Limit $160,000.00
Pay.ment option: Interest Only Period

BASEACCOUNT: OTHERFINANCECHARGES
Initial Corresponding 6.89 %
ANNUALPERCENTAGERATE Application Fee . $0_40
Initial Daily Periodic Rate .0188767 % Origination Fee $0_.00

Margin 1.64% Processing Fee $0_40
. Lock-in Fee
MaximumCorresponding %
ANNUALPERCENTAGERATE152
$100.00

Minimum Corresponding 22
ANNUALPERCENTAGERATE%

-
Loan: ORIGINATIOCEXPENSES
For Loans Having Terms of 12 to 60 Months Appraisal Fee $56.00
Initial Corresponding ANNUALPHKETAGERATE
10.75% Survey Fee $0.00
E & O/Title Report Fee $1 15.00
Initial Daily Periodic Rate .0294520%
Title Insurance Premium $0.00
Margin 5.50%
Mortgage Recording Fee $60.00
Closing Fee $020
For Loans Having Terms of 61 to 120 Months
Mortga
Initial Corresponding ANNUALPERCENTAGERATE1140% eC t mer Tax $1,650.00
Initial Daily Periodic Rate .0301369% Paid at Closing $0.00
Margin E5% Recordation Tax $0.00
Flood Determination Fee $4.00
For Loans Having Terms of 121 to 180 Months OTHERFEES
Initial Corresponding ANNUALPERCENTAGERATE
11.25% Stop Payment Charge $9__.50
2%of Billed"

-
Late Charge "Amount
Initial Daily Periodic Rate .0308219%
Returned Loan Check Charge $7.00
Margin 6.00%
Returned Payment Charge $20.00
. Discharge Fee $50.50
For Loans Having Terms of 181 to 240 Months
Reconveyance Fee $0.00
Initial Corresponding ANNUALPERCENTAGERATE 11.50% Annual Fee $0.00
Initial Daily Periodic Rate 0315068%
Margin 625%

For Loans Having Terms of 241 to 300 Months
Initial Corresponding ANNUALPERCENTAGERATE11.75%
Initial Daily Periodic Rate .0321917%
Margin 6_.5.0%

1. Definitions. In this Agreement the following definitions apply: Parties to the Agreement.
"We," "Lender"
"Agreement" means this M&T HomeEquity
Account Agreement and
"us," "our"
or means the Lender named above or any person
Disclosure Statement, the Mortgage and any amendment or addendum to or entity to whomthe rights of the Lender have been assigned.
"You," "your," "yours" "Borrower"
this Agreement. or means each and every person signing
this Agreement as a Borrower, whether one or more persons sign.

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"Owner" means a person who owner or part owner of the Mortgaged If more than one
is to repay the balance transferred
take to to a Loan.

Property, who is signing this Agreement and the Mortgage but whose Borrower is identified at the beginning of this Agreement, each has · the
liability is limited to the Owner's interest in the Mortgaged Property. The authority to write checks or obtain loans, without the signature, endorsement
Ownerdoes not have the right to obtain loans on the Account. or permission of any other Borrower.
Parts of the Account.
means the M&T Home Equity Account evidenced by this
"Account"
3. Draw and Repayment Periods. The Account will consist of two
Agreement. periods, a Draw Period and a Repayment Period. You are permitted to
"Base
Account" means the part of the Account from which loans will be obtain new advances and CHOICELoans from time to time (as permitted),
made, unless the loan is made at a time when a special Tier interest rate is in only during the Draw Period. The Draw Period will end 10 years from the
effect. The -interest rate applicable to the Base Account may change. date of this Agreement. If the Mortgaged Property is located in Connecticut,
"Loan" means the part of the Account to which you have elected to transfer the Draw Period will end nine years and ten months from the date of this
all or a portion of the outstanding balance. The interest rate applicable to a Agreement. The Repayment Period, which begins with the first Billing
Loan will not change, once the Loan has been established. Cycle following the end of the Draw Period, will continue until you have
"Tier"
means the part of the Account from which loans will be made when a paid the Total Balance in full. The Repayment Period will be approximately
special promotional rate is in effect, if, from time to time, we offer such 20 years. Depending on the balance in the Account at the end of the Draw
promotions. The interest rate applicable to a Tier may or may not change, Period and on the Annual Percentage Rate(s) which apply, your required
depending on the terms of the particular promotion. . payments may repay the balance in less than 20 years.
Other Terms Used in this Agreement.
Cycle"
"Billing means the interval between the dates on which monthly 4. Our Agreement to Make Loans. We agree to pay checks written on
billing statements are prepared or would be prepared if a monthly statement this Account, so long as they do not cause the Loan Balance to exceed the
were required. The Billing Cycle may also be referred to as the "Statement Credit Limit, which are dated, drawn and issued on this Account by you
Period" Period" Draw Period and received by us during the Draw Period, except
or "Billing on your monthly billing statement. during the
Limit" Wewill not pay any check dated,
"Credit means the total dollar amount of credit that we have as provided in the following sentence.
approved for your Account. The total of the Outstanding Loan Balances in drawn or issued by you or received by us aher this Account is Terminated or
the Base Account, all Tiers and all Loans may not exceed the Credit Limit. during any period when your right to further extensions of credit is
"Draw Period" means the first phase of the Account during which you can Suspended as provided in this Agreernent. You agree that any checks
obtain loans and make transfers to Loans. The Draw Period begins aher we written on this Account will be only those checks issued by us for that
approve the credit, you have signed this Agreement, you have signed and special purpose.
acknowledged the Mortgage, you have delivered all the required documents
to us, you have paid any required Origination Fee, Processing Fee and 5. Postdated and Stale Dated Checks. Procedures and laws applicable to
Mortgage Recording Tax, and no one has rescinded this Agreement within postdated and stale dated checks in connection with transactions on regular
the time provided under the Notice of Right to Cancel. checking accounts of Manufacturers and Traders Trust Companyshall apply
"Mortgage" means the Mortgage or deed of trust given to checks under this Agreement. You agree not to issue postdated checks.
by the Borrower
and/or the Owner to secure this Account.
"Mortgaged Property" means the property covered by the Mortgage given to 6. Our Liability. We have no responsibility for failure of any machine,
secure this Account, as is more particularly described in the Mortgage. merchant or other party to honor checks or any other means which we may
Balance" Balance" be used to obtain a loan from this Account.
"Outstanding Loán or "Loan means the unpaid principal permit from time to time to
balance of loans made on the Account.
Balance" Balance"
"Outstanding Total or "Total means the unpaid balance 7. Security Interest.
of loans, Finance Charge, Other Charges and any other amounts owed on
(a) You and any other Owners of the Mortgaged Property give us a
th s Account. The Outstanding Total Balance may also be referred to as the
Mortgage on the Mortgaged Property to secure the payment of all money
NewBalance' on your monthly billing statement.
Perwd" due under this Agreement, including future advances. The rights and duties
Repayment means the phase of the Account after the Draw Period
of you and any other Owners and of us are set forth in this Agreement and in
has ended, during which any unpaid balance must be paid. You may not
the Mortgage
obtain new loans or make transfers to a Loan during the Repayment Period.
"Suspension"
means that you will not, during the period of Suspension, be (b) You also give us a security interest in:
able to obtain loans or any extension of credit on the Account. Suspension .
AHof your money on deposit with us. This includes money now
affects the Account temporarily, and credit privileges may be restored when on deposit or which may be deposited m the future with us by you,
the reason for the Suspension no longer exists.
"Termination" including deposits with any co-depositor, including your spouse. If
means that you will no longer be able to obtain loans or any
there is a default under this Agreement or the Mortgage we, after
extension of credit on this Account. Termination affects the Account
notice required by law, may set-off amounts owed under this
permanently.
Agreement against such deposits.
2. General Description of the Account. Your Account is a revolving loan (ii) The proceeds and returned premiums of any credit life insurance
account, sometimes called a line of credit. It is secured by a Mortgage, You which you may obtain or of property insurance covering the
may obtain loans (also referred to as advances) from time to time during the Mortgaged Property and, if applicable, flood insurance.
Draw Period, up to the Credit Limit, by writing checks or by using other
methods which we may permit. Wewill add the loans to the balance of the (iii) Collateral securing other obligations to us may also secure this
Account
Base Account; you will repay the loans by monthly payments. As you repay
the loans, we will again make the credit available to you during the Draw (c) Wewaive our security in the Mortgaged Property as to any loan to the
Period, up to the Credit Limit. At the end of the Draw Period, you will extent that it would cause the Loan Balance to exceed the Credit Limit.
repay the Total Balance during the Repayment Period. We will charge a
Finance Charge on the Outstanding Loan Balance during the Draw and (d) We waiveany security interest,
.

Case Info

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Document Filed Date

July 03, 2024

Case Filing Date

July 03, 2024

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Document for M&T Bank v. Mark Vecchiarello, Jessica M Vecchiarello Aka, Jessica Vecchiarello, State Tax Commission

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