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200302936
<br />DOC ID # 0002174009358078
<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. MFRS 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 -MFRS.
<br />(F) "Note" means the promissory note signed by Borrower and dated MARCH 12, 2003 . The
<br />Note states that Borrower owes Lender
<br />ONE HUNDRED THIRTY THOUSAND and 00 /100
<br />Dollars (U.S. $ 130,000.00 ) plus interest Borrower has promised to pay this debt in regular
<br />Periodic Payments and in pay the debt in full not later than APRIL 01, 2033
<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 due
<br />under the Note, and all sums due under this Security Instrument, plus interest.
<br />(1) "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 />Adjustable Rate Rider E] Condominium Rider 0 Second Home Rider
<br />Balloon Rider Phoned Unit Development Rider 1-4 Family Rider
<br />VA Rider 0 Biweekly Payment Rider 0 Other(s) [specify]
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances
<br />and administrative rides 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 to order, instruct, or authorize a financial institution to debit or credit an
<br />account Such term includes, but is not limited m, point -of -sale transfers, automated refer machine transactions,
<br />transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(Ad) "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 />to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii)
<br />conveyance in lieu of condemnation; or (]v) misrepresentations of, or omissions as in, 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 />Loan.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the
<br />Note, plus (ti) 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 (2] C.F.R. Part 3500), as they might be amended from time to time, or
<br />any 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 thin 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 drat has taken title to 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 Otis 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 Wares to Lender: (i) the
<br />repayment of the Loan, and all renewals, extensions and modifications of the Note; and (u) the performance of
<br />Borrower's inventors 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 furiedfcdoal
<br />(0 SA(NE)(0006pi CHL(01 101)
<br />INnme of Recording Iuri,dicrion]
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