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201401366
<br /> "Property" means the property that is described below under the heading "Transfer of Rights in the
<br /> Property."
<br /> "Loan" means all amounts owed now or hereafter under the Debt Instrument, including without limitation
<br /> principal, interest, any prepayment charges, late charges and other fees and charges due under the Debt
<br /> Instrument, and also all sums due under this Security Instrument, plus interest.
<br /> "Riders" means all Riders to this Secut-ity Instrument that are executed by Borrower. The following Riders
<br /> are to be executed by Borrower [check box as applicable]:
<br /> ❑Adjustable Rate Rider ❑ Condominium Rider ❑ Second Home Rider
<br /> ❑ Balloon Rider ❑ Planned Unit Development Rider ❑ Biweekly Payment Rider
<br /> ❑ 1-4 Family Rider ❑ Manufactured Home Rider ❑ Revocable Trust Rider
<br /> ' "Applicable Law" means all controlling applicable federal law and,to the extent not preempted by federal
<br /> law, state and local statutes, regulations, ordinances and administrative rules and orders (that have the
<br /> � effect of law)as well as all applicable�final, non-appealable judicial opinions.
<br /> "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other
<br /> charges that are imposed on Borrower or the Property by a condominium association, homeowners'
<br /> association or similar organization.
<br /> "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check,
<br /> draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument,
<br /> computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an
<br /> account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine
<br /> transactions,transfers initiated by telephone,wire transfers,and automated clearinghouse transfers.
<br /> "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by
<br /> any third party (other than insurance proceeds paid under the coverages described in Section 4) for: (i)
<br /> damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the
<br /> Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
<br /> value and/or condition of the Property.
<br /> "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the
<br /> Loan.
<br /> "Periodic Payment" means the payment amounts as they become due under the Debt Instrument.
<br /> "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its
<br /> implementing regulation,Regulation X(24 C.F.R.Part 3500), as they might be amended from time to time,
<br /> or any additional or successor legislation or regulation that governs the same subject matter. As used in this
<br /> Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a
<br /> "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan"
<br /> under RESPA.
<br /> "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not
<br /> that party has assumed Borrower's obligations under the Debt Instrument and/or this Security Instrument.
<br /> TRANSFER OF WGHTS IN THE PROPERTY
<br /> This Security Instrument secures to Lender: (i)the repayment of the Loan, and all renewals, extensions and
<br /> modifications of the Debt Instrument; and (ii) the performance of Borrower's covenants and ageements
<br /> Borrower Initials L� � �-"'��
<br /> O 2013 GuardianDocs (page�of13 pages)
<br /> NE Closed-End Junior Lien Security Instrument(12/23/2010)
<br /> HC#4829-1645-6456
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