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<br />(C) "Lender" is 2 0 0 6 0 2 8 9 0
<br />MERITAGE MORTGAGE
<br />Lender is a CORPORA nON
<br />organized and existing under the laws of a federal savings bank
<br />Lender's address is 9300 SW GEMINI DRIVE
<br />BEA VERTON, OR 97008
<br />(D) "Trustee" is #/ r I O,X'{}
<br />~~ft~~~~~~~l~ OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
<br />(E) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a
<br />nominee for Lender and Lender's successors and assigns. MERS is the beneficiary under this Security Instrument. MERS is
<br />organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-
<br />2026, tel. (888) 679-MERS.
<br />
<br />(F) "Note" means the prom issory note signed by Borrower and dated March 31, 2006
<br />The Note states that Borrower owes Lender
<br />Fifty-Eight Thousand Five Hundred and 00/100 Dollars
<br />(U.S. $ 58,500.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than April 1 , 2036
<br />
<br />(G) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. "
<br />
<br />(H) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note,
<br />and all sums due under this Security Instrument, plus interest.
<br />
<br />(I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be
<br />executed by Borrower [check box as applicable]:
<br />
<br />[K] Adjustable Rate Rider D Condominium Rider
<br />D Balloon Rider D Planned Unit Development Rider
<br />D V A Rider D Biweekly Payment Rider
<br />
<br />D Second Home Rider
<br />D 1-4 Family Rider
<br />D Other(s) [specify]
<br />
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
<br />administrative rules and orders (that have the effect oflaw) as well as all applicable final, non~appealable judicial opinions.
<br />(K) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are
<br />imposed on Borrower or the Property by a condominium association, homeowners association or similar organization.
<br />
<br />(L) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar
<br />paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to
<br />order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-
<br />sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated
<br />clearinghouse transfers.
<br />(M) "Escrow Items" means those items that are described in Section 3.
<br />
<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party
<br />(other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the
<br />Property; (ii) condemnation or other taking of all or any part of the Property; (Hi) conveyance in lieu of condemnation; or (iv)
<br />misrepresentations of, or omissions as to, the value and! or condition of the Property.
<br />
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
<br />Initials: ~ tJ ,~ (},.xc?
<br />
<br />Form 3028 1/01
<br />
<br />G-6A(NE) (0407)
<br />il!l
<br />DDS-NET
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