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200303486
<br />(C) "Lender" is NEW CENTURY MORTGAGE CORPORATION
<br />Lenderisa CORPORATION
<br />organized and existing under the laws of CALIFORNIA
<br />Lender's address is 18400 VON KARMAN, SUITE 1000
<br />IRVINE, CA 92612
<br />Lender is the beneficiary under this Security Instrument.
<br />(D) "Trustee" is ,r �....... �I�{- 1H 6Ur'q,y1f¢,
<br />Camp".
<br />(E) " Note" means the promissory now signed by Borrower and dated March 14, 2003
<br />The Now slates that Borrower owes Lender Fifty -Six Thousand, Two Hundred Fifty and
<br />No /100 ---------------------------------- ------------------- Dollars
<br />(U.S. $ 56,250.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than Ap r i 1 1 , 2033
<br />(F) "Property" means the property that is described below under the heading "Transfer of Rights in the
<br />Properly."
<br />(C) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
<br />due under the Note, and all sums due under this Security Instrument, plus interest.
<br />(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
<br />Riders are to be executed by Borrower [check box as applicable]:
<br />® Adjustable Rate Rider 0 Condominium Rider Second Home Rider
<br />Balloon Rider Planned Unit Development Rider 1 -4 Family Rider
<br />VA Rider 0 Biweekly Payment Rider © Other(s) [specify]
<br />Prepayment Rider
<br />Arm Rider Addendum
<br />(I) "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 - appealable judicial opinions.
<br />(J) "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 />association or similar organization.
<br />(K) "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 teller machine
<br />transactions, transfers initialed by telephone, wire transfers, and automated clearinghouse transfers.
<br />(L) "Escrow Items" means those items that are described in Section 3.
<br />(M) "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; (it) 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 />condition of the Property.
<br />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the
<br />Loan.
<br />n_ 0000825188
<br />- 6(NE) (0005, Pa1e2un5 T, F Form 3028 1/01
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