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20050511'7
<br />(C') "Lender" is
<br />MIT LENDING
<br />Lender is a CORPORATION
<br />organized and existing Under the laws of NEW YORK
<br />Ltmde.r's address is
<br />33 MAIDEN LANE, 6TH FLOOR, NEW YORK, NY 10038 -
<br />(l)) "Trustee" is ea.+Ns K" {rte
<br />(E) "MFRS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is
<br />acing solely as a nominee for Lender and Lender's successors and assigns. MFRS is the heneticiary
<br />under this Security Instrument. MFRS is organized and existing under the laws of Delaware, and has an
<br />address and telephone of P.O. Box 2026, Flint, MI 48501 - 2026, tel. (888) 679 -MERS.
<br />(F) "Note" means the promissory note signed by Borrower and dated JUNE 03, 2005
<br />The Note states that Borrower owes Lender
<br />NINETY THOUSAND AND NO/ 100XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
<br />Dollars
<br />(U.S. $ 90,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than JUNE 01, 2035
<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 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 />XX Adjustable Rate Rider Condominium Rider 1 -4 Family Rider
<br />0 Graduated Payment Rider Planned Unit Development Rider 0 Biweekly Payment Rider
<br />�] Balloon Rider Rate Improvement Rider 0 Second Home Rider
<br />XX Other(s) ]specify] ADDENDUM TO ADJUSTABLE RATE RIDER
<br />(.O "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and orders ((ha( have the effect of law) as well os all applicable final,
<br />non- appealablejudicial opinions.
<br />(IC) "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" means any transfer of funds, other than a transaction originated by
<br />check, draft, or similar paper instrument, which is initiated through an electronic (erminal, 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, transfers 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 part of the
<br />Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or ornissions as to, the
<br />value and /or condition of the Property.
<br />inrti�i� .Tf ��
<br />VMP- 6A(NE) (oam) P:rge 2,,f 19 Form 3026 1101
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