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(C) "Lender" is Equ i ty One I I nc . 200600582 Lender is a Corporat 1 on organized and existing under the laws of De 1 awa re Lender's address is 301 Lippincott Drive, Marlton, NJ 08053 (D) "Trustee" is 1Mt 1\ h1VU U1() jcl--u ~(L) U./\.tu,LL (E) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS Is the beneficiary unlier this Security Instrument. MBRS is organized and existing under the laws ot Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (F) "Note" means the! promiAsory note! signed by Borrower and dated January 10, 2006 The Note states that Borrower owes Lender One Hundred Ei ghteen Thousand Two Hundred Fifty and no/10D DOUMS (U.S. S 118,250.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than Februa ry 1. 2036 . (G) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (H) "Loan'! means the debt evidenced by the Note, plus interest, any prepayment charges anl11ate charges due under the Note, and all sums due under this Security Instrllment, plus intmlst. (I) "Riders" melUlS all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: o Adjustable Rate Rider 0 Condominium Rider 0 Second Borne Rider o Balloon Rider 0 Planned Unit Development Rider 0 1-4 Family :Rider OVA Rider 0 Biweekly Payment Rider 0 Omer(s) [specify] (J) "Applicable Law" means all controlling applicable federal, state .and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable fmal, non-appealable judicial opinions. (K) "Community Association Dues, Fees, and Aueslments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (L) "Electronic Funds Transfer" means any transfer of funds. other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic tenninal, telephonic instrument, computer, or magnetic tape so as to order, instnIee, oX' authori~ a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, Butomated teller machine transactions, transfers initiated by telephone. wire transfers, and automated olearinghouse transfers. (M) "Escrow Itfi!n'lS" means rhose items that are described in Section 3. (N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section S) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Propertyj (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on. the Loan. E990B02 fIllo6AINEII04071 Pag. 201 1 ~ I""la"\~ Form 3028 1 (Q 1 6v 'd OV6v 'ON dJo:) IAOJJSj ~ dl~!l PdIAY~JON ~dlE:S 900G 'Ol 'ul?r