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200105230
<br />(C) "Lender" is FIRSTUNIONMORTGAGECORPORATION
<br />Lenderisa ACorporation
<br />organizedandexistingunderthelawsof NORTHCAROLINA
<br />Lender'saddressis
<br />1100CorporateCenterDr .,Raleigh,NC27607 -5066
<br />(D) "Trustee" is-:rr
<br />Transnation Title Insurance Company
<br />(E) "MERS" is Mortgage Electronic Registration Systems, Inca MERS is a separate corporation that is acting
<br />solely as a nominee for Lender and Lender's successors and assigns. MERS is the beneficiary under this
<br />Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and
<br />telephonenumberofP. O. Box2026,F1int,MI48501- 2026,tel. (888) 679 -MERS.
<br />(F) "Note" means the promissory note signed by Borrower and dated May2 9, 2 0 01
<br />TheNotestatesthatBorrowerowesLender
<br />Thirty- SevenThousandandNo /100 Dollars
<br />(U.S.$ 37,000.00 ) plusinterest. BorrowerhaspromisedtopaythisdebtinregularPeriodic
<br />Paymentsandtopaythedebtinfullnotlaterthan June 1, 2 011
<br />(G) "Property" means the property that is described below under the heading "Transfer of Rights in the
<br />Property."
<br />(H) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
<br />dueundertheNote, andallsumsdueunderthisSecurityInstrument ,plusinterest.
<br />(I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
<br />RidersaretobeexecutedbyBorrower [checkboxasapplicable] :
<br />0 AdjustableRateRider 0 CondominiumRider 0 SecondHomeRider
<br />0 BalloonRider 0 PlannedUnitDevelopmentRider 0 1- 417amilyRider
<br />❑ VARider Biweek]yPaymentRider 0 Other(s) [specify]
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final,
<br />non - appealablejudicialopinions.
<br />(K) "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 />associationorsimi larorganization.
<br />(L) "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, transfersinitiatedbytelephone, wiretransfers, andautomatedclearinghousetransfers.
<br />(M) "Escrow Items" means those items that are described in Section 3.
<br />(1) "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 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 to, the value and/or
<br />conditionoftheProperty.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the
<br />Loan.
<br />(M- 6A(NE) (0005)
<br />7270834 -00
<br />Initials:
<br />Page2or'15 Form 3028 1 /01
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