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200603407 (C) "Lender" is Equi ty On e. I ne . Lender is a Corporati on organized and existing under the laws of De 1 awa re Lender's address is 301 L; ppi neott Dr; ve, Marlton. NJ 08053 (D) "Trustee" is FIRST AMERICAN TITLE INSURANCE COMPANY (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 under this Security Instrument. MERS Is organized and eltisting under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, M14850lw2026, tel. (888) 679-MERS. (F) "Note" means the promissory note signed by Borrower and dated Apri 1 7. 2006 The Note states that Borrower owes Lender Sixty Three: Thousand Ni ne Hundred and no/100 Donars (U.S. $ 63.900.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than May 1, 2036 (G) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (B) "Loan" means the debt evidenced by the Note, plus in~rest, any prepayment charges and late charges due under the Note, and ail sums due under this Security Instrument, plus interest. (I) "Riders" means all Riders to this Security Instrument ~t are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable): D Adjustable Rate Rider D Condominium Rider D Second Home Rider D Balloon Rider 0 Planned Unit Development. Rider 0 1-4 Family Rider D VA Rider D Biweekly Payment Rider IX] Other(s) [specify) LEGAL DESCRIPTION (J) "Applicable Law" means all controlling applicable federal, stale and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as ail applicable final, Don-appealable judicial opinions. (K) "Community Association Dues, Fees. and Assessments'l means all dues, fees, assessments and other charges that arc 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 terminal, telephonic instrument, computer. or magnetic tape so as to order, instruct, or authorize a financial instimtion to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone. wire transfers, and automated clearinghouse transfers. , (M) "Escrow Items" means those items that are described in Section 3. (N) "MJscellaneous Proceeds" means any compensation, sealement, 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; (li) condemnalion or other taking of ail or any part of the Property; (ill) coDveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value andlor condition of the Property . (0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. 00800039 CIl-6AINEI'040?1 Pail. 2 01 16 '"'c/;J!;f::;, 'OM '028 1101