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<br />200610931
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<br />(C) "Lender"is Equity One, Inc.
<br />
<br />Lender is a Corporation
<br />organizt:d and t:xisting undt:r tht: laws of
<br />Lender's address is 301 Lippincott
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<br />Delaware
<br />Drive, Marlton, NJ 08053
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<br />(D) "Trustee"is FIRST AMERICAN TITlE INSURANCE COMPANY
<br />
<br />(E) "MERS" is Mortgagt: Elt:ctronic Registration Systems, Inc. MERS is a separate corporation that is
<br />acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the beneficiary
<br />under this Security Instrument. MERS is organized and existing under tht: laws of Ddaware, and has an
<br />address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
<br />(F) "Note"means the promissory note signed by Borrowt:r and dated November 27, 2006
<br />The Nott: statt:s that Borrowcr owes LenderOne Hundred Fifty Six Thousand and no/100
<br />Dollars
<br />(U.S. $ 156,000.00 ) plus interest. Borrower has promised to pay this debt in rt:gular Pt:riodic
<br />Payments and to pay the debt in full not later than December 1, 2036
<br />(G) "Property"mcans the property that is described below under the heading "Transfer of Rights in the
<br />Propt:rty. "
<br />(H) "Loan" means the debt evidenced by the Note, plus interest. any prepayment chargt:s and late charges
<br />duc under the Note, and all sums due under this Security Instrument, plus interest.
<br />(I) "Riders" means all Ridt:rs to this Security Instrument that arc executed by Borrower. The following
<br />Riders arc to be executed by Borrower [check box as applicable I:
<br />
<br />D Adjustable Rate Rider
<br />D Balloon Rider
<br />D VA Rider
<br />
<br />D Condominium Rider D Second Home Rider
<br />o Planned Unit Dt:vdopment Ridt:r D 1-4 Family Rider
<br />D Biweekly Payment Rider [X] Other(s) [specifYJ
<br />LEGAL DESCRIPTION
<br />
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and ordt:rs (that have the efft:ct of law) as well as all applicable final,
<br />non-appealable judicial opinions.
<br />(K) "Community Association Dues, Fees, and Assessments" mt:ans 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 />chcck, draft, or similar paper instrument, which is initiated through an t:lectnmic terminal, telephonic
<br />instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
<br />or crt:dit 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 St:ction 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) convt:yance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
<br />value and/or condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
<br />tht: Loan. c,9. 'In .
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<br />00858075 InitiaIS//'-/~
<br />.-6A(NE) (0407) Page 2 of 15 Form 3028 1/01
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