|
(C) "Lender" is HOMECOMINGS FINANCTAL NETWORK, INC. 200306256
<br />Lender is aCORPORATr ON
<br />organized and existing under the laws of DELAWARE
<br />Lender's address is 27725 STANSBURY BLVD, SUITE 375
<br />FARMINGTON HILLS, MI 463.14
<br />(D) "Trustee" is Gary D. Byrne, a member of the Nebraska Bar Association
<br />(E) "MERS" is Mortgage Electronic Registration Systems, Ene. MERS is a separate corporation that is
<br />acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the beneficiary
<br />under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an
<br />address and telephone number of P.O- Box 2026, Flint, Mf 48501 -2026, tel. (888) 679 -MERS.
<br />(h) "Note" means the promissory note signed by Borrower and dated MAY 12TH, 2003
<br />The Note states that Borrower owes Lender ONE HUNDRED EIGHTY TWO THOUSAND AND
<br />NO/ 100 Dollars
<br />(U.S. $ 182, 000. 00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not lalcr tharrJUNE 1ST, 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 prepaymentcharges and late charges
<br />due 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
<br />Riders are to be executed by Borrower [check box as applicable]:
<br />❑ Adjustable Rate Rider n Condominium Rider ❑ Second Home Rider
<br />❑ Balloon Rider ❑ Planned Unit. Development Ridel❑ 1 -4 Family Rider
<br />❑ VA Rider ❑ Biweekly Payment Rider ❑ Other(s) [specify]
<br />(,p "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and orders (thathave the effect of law) as well as all applicable final,
<br />non - appealable judicial opinions.
<br />(K) 'Community Association Dues, Fees, and Assessments" means all dues, fees, asscsamcntsand other
<br />charges that are imposed on Borrower or the Property by a condominium association, homeowners
<br />association or similar organization.
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by
<br />check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
<br />instrunnum, computer, or magnetic tape so as to order, instruel, or authorize a financial institution to debit
<br />or credit an account. Such term includes, but is not limited to, point -of -sale transfers, autnmatedteller
<br />machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
<br />transfers.
<br />(M) "Escrow Items" mcansthose items that are describedin Section 3.
<br />(N) "Miscellaneous Proceeds" means any compcnsatiun, settlement, award of damages, or proceeds paid
<br />by any third party (other than insurance proceeds paid under the coverages describedin Section 5) for: (i)
<br />damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the
<br />Property; (iii) conveyance in lieu of con harnalion; or (iv) misrepresentationsof, or omissions as to, the
<br />value and /or condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpaymentof, ordcfaulton,
<br />the Loan.
<br />MFNF7770 (12/00) / 041 - 703426 -1 "u. =i. L
<br />0-WNEI ROOs) T'.1 "116 Form 3020 1101
<br />b r`
<br />
|