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200302235
<br />DOC ID j/ 0002055886657088
<br />(D) "Trustee" is
<br />FIDELITY NATIONAL TITLE INSURANCE CO.,AN ARIZONA CORPORATION
<br />P.O. BOX 32695 PHOENIX, AZ 85064 -
<br />(E) "MERS" is Mortgage Electronic Registration Systems, Inc. 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 />telephone number of P.O. Box 2026, Flint, MI 48501 -2026, Let. (888) 679 -MERS.
<br />(F) "Note" means the promissory note signed by Borrower and dated FEBRUARY 14, 2003 . The
<br />Note states that Borrower owes Lender
<br />FIFTY FIVE THOUSAND and 00 /100
<br />Delius (U.S.$ 55,000.00 ) plus interest. Borrower has promised to pay this debt in regular
<br />Periodic Payments and to pay the debt in full not later than MARCH 01 , 2018
<br />(G) "Property" means the property that is described below under the heading "Transfer of Rights in the
<br />Property."
<br />HD "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due
<br />under the Note, and all sums due under this Security Instrument, plus interest.
<br />(I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders
<br />are in be executed by Borrower [check box as applicable]:
<br />0 Adjustable Rate Rider F] Condominium Rider 0 Second Home Rider
<br />0 Balloon Rider F1 Planned Unit Development Rider ® 1 -4 Family Rider
<br />0 VA Rider F1 Biweekly Payment Rider 0 Others) [specify]
<br />Q) "Applicable Law" means all controlling applicable federal, state and local statures, regulations, ordinances
<br />and administrative rules and orders (that have the effect of law) as well as all applicable final, non - appealable
<br />judicial opinions.
<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 association
<br />or similar organization.
<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 m 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, auomated teller machine transactions,
<br />transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(M) "Escrow Items" means those items that are described in Section 3.
<br />(N) "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) damage
<br />m, or destruction of, the Property; (it) condemnation or other taking of all or any part of the Property; (iii)
<br />conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as m, the value and /or
<br />condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the
<br />Lon.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (0 principal and interest under the
<br />Note, plus (ii) any amounts under Section 3 of this Security Instrument.
<br />(Q) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its
<br />implementing regulation, Regulation X (24 C.F.R. Pan 3500), as they might be amended from time to time, or
<br />my 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" under
<br />RESPA.
<br />(R) "Successor in Interest of Borrower" means any party that has taken tide m the Property, whether or not
<br />that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lender's successors
<br />and assigns) and the successors and assigns of MERS. This Security Instrument secures in Lender: (i) the
<br />repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of
<br />Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located
<br />in the
<br />COUNTY of HALL
<br />[Type of Recording Iurirdie ien] INxme or Recordue Picodimieal
<br />7(�i0
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<br />(:D�6A(NE) (fafe,) , CHL(01101) Page 2al]t 77.3028 1/01
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