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200307131
<br />(C)' Under" is SECURITY 1 MORTGAGE, INC
<br />Lender's- CORPORATION
<br />organized and existing under the laws of THE STATE OF NEBRASKA
<br />Lender'saddressis 2224 NORTH 91ST PLAZA
<br />OMAHA, NEBRASKA 68134
<br />O)'Trustee "is FIRST AMERICAN 'TITLE INSURANCE COMPANY
<br />(E) 'TIERS" is Mortgage Electronic Registration Systems, he MERS is a separate corporation that is
<br />acting solely as a nominee for Lender and Leader's successors and assigns. MERS is the beneficiary
<br />under this Security Instrument. MFRS is organized and existing trader the laws of Delaware, and has me
<br />address mid telephone number of P.O. Box 2026, flint, MI 48501 -2026, tel. (888) 679 -MFRS.
<br />(F) "Note" moans the promissory, note signed by Borrower and dated June 2, 2003
<br />The Note slates that Borrower owes Lender Seventy -One Thousand Seven Hundred and
<br />0 Do
<br />0 /100 llars
<br />(U. S. $71.700.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than 0 I y 1 , 2023
<br />(G) 'Property" means the property that is described below under the heading "Transfer of Rights in the
<br />Property."
<br />(In "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
<br />due under the Nate, and all shuns 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 />0 Adjustable Rate Rider 0 Condornmium Ruler n Second Home Rider
<br />Balloon Rider L�i Planned Unit Development Rider IA Parody Rider
<br />J VA Rider L. i In, eck 1, Puymurt Rider —J Othcr(s) [specify]
<br />(3) "Applicable Law" means dl controlling applicable federal, state and local stern es, regulations,
<br />urdinances and administrative rules and orders (that have the effect of law) as well es all applicable final,
<br />non- appealablejudidal opinions.
<br />(In "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 />(L) "Electron[, Fuuds Transfer" means any transfer of funds, other than a transaction originated by
<br />check, draft, or similar paper instrument, winch is initiated through an electronic terminal, telephonic
<br />instrument, computer, or magnetic tape se as to order, instruct, or authorize a financial institution to debit
<br />or credit an account Such term includes, but is net limited to, point -of -sale transfers, automated teller
<br />machine transactions, trmsfus initiated by telephone, wire transfers, and automated clearinghouse
<br />transfers.
<br />INS "Escrow items" means those items that are described in Section 3.
<br />(N) 'Tliseellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid
<br />by 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; (ii) condemnation or other taking of all or any part of the
<br />Property; (iii) conveyance in lieu of condemnation, or (iv) misrepresentations of, or omissions ae to, the
<br />value and/or condition ofthe Property.
<br />(0) "Mortgage fasurance" means insurance protecting Leader against the nonpayment of, or default on,
<br />the Loan.
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