|
200207910
<br />(C) "Lender" is Principal Residential Mortgage, Inc
<br />Lenderisa Corporation
<br />organized and existing under the Laws of the .State of Towa
<br />Lender's address is
<br />711 High Street, Des Moines, IA 50392
<br />(D) "Trustee" is °m— -- AMCRi[ANP'ov z e_r t[e.L✓S.sanN4 E 4y�e)r
<br />ypC, Nnnn/yao, Dr:re&,,& Y0e 131,E A,
<br />(E) "MERS" is Mortgage Eleclronto Registration Systems, Inc. MERS is a separate corporation that is
<br />acting solely as a nominee for tender and Lender's successors and assigns. MFRS 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, MI 48501 -2026, tel. (888) 679 -MERS.
<br />(1) "Note" means the promissory note signed by Borrower and dated July 22, 2002
<br />The Note states that Borrower owes Lender
<br />One Hundred Seventy Thousand and 00 /100 Dollars
<br />(U.S- $ 170, 000. 00 ) plus interest. Rorrowcr has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than August 1, 2022
<br />(0) "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
<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 />0 Adjustable Rate Rider 0 Condominium Rider U Second Home Rider
<br />0 Balloon Rider 0 Planned Unit Development Rider El 14 Family Rider
<br />[] VA Rider U Biweekly Payment Rider n Other(s) (specit'y]
<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 />(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
<br />association or similar organization.
<br />(L) "Electronic Funds Transfer" meatus 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 />instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
<br />or credit an account. Such term includes, but is not limited to, point of sale transfers, automated teller
<br />machine transactions, transfcns initiated by telephone, wire transfers, and automated clearinghouse
<br />transfers.
<br />(M) "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
<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 pan of the
<br />Property; (iii) conveyance in lieu of condemnation; or (iv) misrcpaxentalions of, or omissions as to, the
<br />value and /or condition of the Property.
<br />(0) "Mortgage Insurance" mearis insurance protecting Lender against the nonpayment of, or default on,
<br />the Loan.
<br />9
<br />(0- 6AINE) iw0c Page v of i e Form 3028 1101
<br />� i /I
<br />
|