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tun- 30 -00' 13:10 From- T -601 P 12 F -139
<br />2000OS488
<br />(C) "Lender" is FIRST UNION MORTGAQE CORPORATION
<br />Lendcrisa A Corporation
<br />nrganised and existing under the laws of NORTH CAROLINA
<br />Lender's address is
<br />1100 Corporate Center Dr., Raleigh, NC 27607-5056/�
<br />(1)) "'Trustee" is Ticor Title Insurance Company
<br />(F) "MFRS" is Mortgage Electronic Registration Systems, Inc_ NMRS is a separate corporation that is acting
<br />solely as a nomineu for Lender and Lender's successnrs and assigns. MFRS is the beneficiary under this
<br />Security Instrument. NT-RS is organised and existing under the laws of Delaware, and has au4 ndchess and
<br />telephone of P.O. Box 2026, Flint, lull 48501.2026, tel. (888) 679 -MFRS.
<br />(F) "Note" means the promissory note signed by Borrower and dated June 30 , 2000
<br />The Note states 11411. Borrower owes Lender
<br />Two Hundred Eighty Thousand and No /100 11,41as
<br />(U.S. $ 280,000.00 ) plus interest. Borrower has promised to pay dais debt in regular Periodic
<br />Payments and to pay the debt in full not later than Ju l y 1 , 2030
<br />(G) "Property" paeans the property that is described below under the heading "Transl'er of Rights in the
<br />Property."
<br />(11) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
<br />due under the Not,.-, and all sums due under this Security Instrument, plus interest.
<br />(i) "Itiders" metuas all riders to this Security Instrument that are executed by Borrower. The following riders
<br />:ire to be executed by Borrower lcheck box as applicahlel:
<br />a Adjustable Rata Rider E:1 Condominium Rider Second Horne Rider
<br />El galloon Rider Planned .Unit Development Rider l -4 Faunily Rider
<br />Q VA Rider C9 Biweekly Payment Rider Other(S) [specify]
<br />(,1) "Applicable Law" metuls all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and otirninistaalive rules and orders (that have the effect of law) as well as all applicable final,
<br />non- appealahlc judicial opinions.
<br />(K) "Community Association Dues, Fetq, and Assessments" ►neans all dues, fees, assessments, and other
<br />charges that are imposed on Borrower or the Property by a condominium association, homeowneri
<br />association or Similar organization.
<br />(L) "1:leclrunie Fundii Trungfer" moans any uansfer of funds, other than 11 trimsaction originated by check,
<br />draft, or similar paper instrument, which is initiated through an electronic terminatl, telephonic insuumem,
<br />computer, or magnetic tape so as to order, instruct, or authorize a Imancial institution to debit or credit nn
<br />account. Such term includes, but is not. limited to, puint -of -sale transfers, automated teller n►achine
<br />transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse trarnil'ers.
<br />(M 1 "rscrom, Items" means those itemi that are described in Section 3.
<br />(N) "Miscellaneous Proceeds" mean any compensation, settlement, award of damages, or procoods paid by
<br />any diird party touter than insurartce proceeds paid under the coverages described in Section 5) for: (i)
<br />damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property;
<br />(iii) conveyance in lieu of condemnation: or (iv) misrepresentations of, or omissions as w, the value a4nd/ur
<br />conalibon o('1110 Property.
<br />(0) "Mortgage Iusurunce" means insurar4ce protecting Lender agttinst the nonpayment of, or default on, the
<br />Loan.
<br />7200303 -00
<br />(nlllals: .
<br />(M- eA(NE) aee ea.oz Papa 2 of 16 Form 9028 3199
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