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(C) "Lender "is NEW CENTURY MORTGAGE CORPORATION 200305912 Lcnderisa CORPORATION organized and existing under the laws of CALIFORNIA Lender'saderessis 18400 VON BARMAN, SUITE 1000 IRVINE, CA 92612 Lender is the beneficiary under this Security Instrmment. (D) "Trustee" is -Mlaza L (E) "Note" means the promissory now signed by Borrower and dated Apr i 1 21 , 2003 The Now states that Borrower owes Lender One Hundred Thirty -Eight Thousand, Five Hundred Fifty and No /100 ----------------------------- - - - --- Dollars (U.S. $ 138,550.00 ) plus incerest. Borrower has promisel to pay this debt in regular Periodic Payments and to pay the debt in full not later than May 1 , 2033 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (0) "Loan" means the debt evidenced by the Now, plus interest, any prepayment charges and law charges due under the Note, and all sums due under this Security instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are in be executed by Borrower [check box as applicable]: Adjustable Rate Rider 0 Condominium Rider El Second Home Rider II Balloon Rider El Planned Unit Development Rider D 1-4 Family Rider El VA Rider 0 Biweekly Payment Rider © Other(s) [specify] Prepayment Rider Arm Rider Addendum (I) "Applicable Law" means all controlling applicablee federal, state and local stam[es, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non - appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a emldominium association, homeowners association or similar organisation. (K) "Electronic Funds Transfer" meats 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 authorize a financial institution to debit or credit an account- Such term includes, but is not Emitted to, point -of -sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items 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 Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. 0000796683 111 1 4.6(NE)pmo ) Page z o, 15 Form3028 1101