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20010515"7
<br />(C)'Under"is Principal Residential Mortgage, Inc
<br />Lender is a Corporation
<br />organized and existing under the laws t iie State of Iowa
<br />Lender's address is
<br />711 High Street, Des Moines, IA 50392
<br />(D) "Trustee" is Service Link
<br />4000 Industrial Blvd, Aliquippa, PA 15001
<br />(E) "HERS" is Mortgage ElectronicRegistrationSystems, Inc. MERS is a separatecorporationthat is
<br />acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the beneficiary
<br />under this Security Instrument. MERSis organizedand existing underthe laws of Delaware,and has an
<br />address and telephone number of P.O. Box 2026, Flint, MI 48501 -2026, tel. (888) 679 -MERS.
<br />(F) "Note" meansthe promissorynote signed by Borrowerand dated May 23 , 2001
<br />The Note states that Borrower owes Lender
<br />Fifty Two Thousand and 00 /100 Dollars
<br />(U.S. $52,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later thane 1, 2016
<br />(G) "Property" means the propertythat is describedbelow under the heading "Transferof Rights in the
<br />Property."
<br />(Ii) "Loan" meansthe debt evidencedby the Note, plus interest,any prepaymenthargesand late charges
<br />due under the Note, and all sums due under this Security Instrument, plus interest.
<br />(I) "Riders" means all Riders to this Security Instrumentthat are executedby Borrower. The following
<br />Riders are to be executed by Borrower [check box as applicable]:
<br />0 Adjustable Rate Rid Condominium Rider EJ Second Home Rider
<br />El Balloon Rider D Planned Unit Development RZO 1 -4 Family Rider
<br />E:1 VA Rider 0 Biweekly Payment Rider 0 Other(s) [specify]
<br />W "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinancesand administrativerules and orders (thathave the effect of law) as well as all applicablefinal,
<br />non - appealable judicial opinions.
<br />(K) "Community Association Dues, Fees, and Assessments" meansall dues, fees, assessmentsand other
<br />charges that are imposed on Borrower or the Property by a condominium association, homeowners
<br />association or similar organization.
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by
<br />check, draft, or similar paper instrument,which is initiated through an electronic terminal, telephonic
<br />instrument,computer,or magnetictapeso as to order, instruct, or authorizea financialinstitutionto debit
<br />or credit an account. Such term includes, but is not limited to, point -of- saletransfers, automatedteller
<br />machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
<br />transfers.
<br />(M) "Escrow Items" meansthoseitemsthat are describedin Section3.
<br />(N) "Miscellaneous Proceeds" meansany compensation settlement award of damages,or proceedspaid
<br />by any third party (otherthan insuranceproceedspaid under the coveragesdescribedin Section 5) for: (i)
<br />damageto, or destructionof, the Property; (ii) condemnationor other taking of all or any part of the
<br />Property; (iii) conveyancein lieu of condemnation pr (iv) misrepresentationof, or omissions as to, the
<br />value and/or condition of the Property.
<br />(0) "Mortgage Insurance" meansinsuranceprotectingLenderagainst the nonpaymentof, or defaulton,
<br />the Loan.
<br />ia LA
<br />�® 6A(NE) (0005) Page 2 of 15 Init Form 3028 1/01
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