20021108
<br />(D) "Trustee" is
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<br />Ticor Title Insurance Companv
<br />(E) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate
<br />corporation that is acting solely as a nominee for Lender and Lender's successors and assigns.
<br />MERS is the beneficiary under this Security Instrument. MERS is organized and existing
<br />under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint,
<br />MI 48501 -2026, tel. (888) 679 -MFRS.
<br />(F) "Note" means the promissory now signed by Borrower and dated October 9,
<br />2002 . The Now states that Borrower owes Lender
<br />Seventy Six Thousand One Hundred and 00 /100
<br />Dollars (U.S. $ 76,100.00 ) plus interest. Borrower has promised to pay this
<br />debt in regular Periodic Payments and to pay the debt in full not later than
<br />November 1, 2017
<br />(G) "Property" means the property that is described below under the heading "Transfer of
<br />Rights in the Property."
<br />(ED "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges
<br />and late charges due under the Note, and all sums due under this Security Instrument, plus
<br />interest.
<br />(1) "Riders" means all Riders to this Security Instrument that are executed by Borrower.
<br />The following Riders are to be executed by Borrower [check box as applicable]:
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes,
<br />regulations, ordinances and administrative rates and orders (that have the effect of law) as well
<br />m all applicable final, non - appealable judicial opinions.
<br />(IQ "Community Association Dues, Fees, and Assessments" means all dues, fees,
<br />assessments and other charges that are imposed on Borrower or the Property by a condominium
<br />association, homeowners association or similar organization.
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction
<br />originated by check, draft, or similar paper instrument, which is initiated through an electronic
<br />terminal, telephonic instrument, computer or magnetic tape so as to order, instruct, or authorize
<br />a financial institution to debit or credit an account. Such Won includes, but is not limited to,
<br />point -of -sale transfers, automated teller machine transactions, transfers initiated by telephone,
<br />wire transfers, and automated clearinghouse transfers.
<br />(M) "Escrow Items" means those items that us described in Section 3.
<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or
<br />proceeds paid by any third party (other than insurance proceeds paid under the coverages
<br />described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or
<br />other taking of all or any pan of the Property; (iii) conveyance in lieu of condemnation; or (iv)
<br />misrepresentations of, or omissions as to, the value and /or condition of the Property.
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<br />}
<br />Adjustable Rate Rider
<br />E::]
<br />Condominium Rider 0 Second Home Rider
<br />Q
<br />Balloon Rider
<br />Biweekly Payment Rider 0 1 -4 Family Rider
<br />0
<br />Other(s) [specify]
<br />Q
<br />Planned Unit Development Rider
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes,
<br />regulations, ordinances and administrative rates and orders (that have the effect of law) as well
<br />m all applicable final, non - appealable judicial opinions.
<br />(IQ "Community Association Dues, Fees, and Assessments" means all dues, fees,
<br />assessments and other charges that are imposed on Borrower or the Property by a condominium
<br />association, homeowners association or similar organization.
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction
<br />originated by check, draft, or similar paper instrument, which is initiated through an electronic
<br />terminal, telephonic instrument, computer or magnetic tape so as to order, instruct, or authorize
<br />a financial institution to debit or credit an account. Such Won includes, but is not limited to,
<br />point -of -sale transfers, automated teller machine transactions, transfers initiated by telephone,
<br />wire transfers, and automated clearinghouse transfers.
<br />(M) "Escrow Items" means those items that us described in Section 3.
<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or
<br />proceeds paid by any third party (other than insurance proceeds paid under the coverages
<br />described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or
<br />other taking of all or any pan of the Property; (iii) conveyance in lieu of condemnation; or (iv)
<br />misrepresentations of, or omissions as to, the value and /or condition of the Property.
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