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200301609 (C) "Lender" is Ameriquest Mortgage Company Lender is a Corporation organimd and existing under the laws of Delaware Lender's address is 1100 Town and Country Road, Suite 200 Orange, CA 92868 Lender is the beneficiary under this Security Instrument. (D) "Trustee" is Empire Title Company (E) "Note" means the promissory now signed by Borrower and dated January 17, 2003 The Now states that Borrower owes Lender sixty -three thousand seven hundred fifty and 00 /100 Dollars (U.S. $ 63,750. 00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay die debt in full not later thin February 1, 2033 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Now, mid all sums due under this Security lnsnument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: Adjustable Rate Raider El Condominium Rider 0 Second Home Rider El Balloon Rider 0 Planned Unit Development Rider El 1-4 Family Rider El VA Rider ❑ Biweekly Payment Rider 0 Other(s) [specify] (1) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non - appealable judicial opinions. (J) "Community Association Does, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association homeowners association or similar organization. (E) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or audiot]u a financial institution to debit or credit an account. Such term includes, but is not limited to, paint -of -sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those itenvs that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and /or condition of the Properly. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. 0042574368 - 5665 (W- mNE)woosi Pw, Fors 01/16/2003 3:00:09 Form3028 1/01