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<br />,.
<br />
<br />200700328
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<br />(C) "Lender" is
<br />Wilmington Finanl;e, Inl;.
<br />
<br />Lender is a Corporation
<br />
<br />organized and existing under the laws of
<br />
<br />Lender's address is 401 Plymouth Road, Suite 400
<br />Plymouth Meeting, P A 19462
<br />
<br />(D) "Trustee" is
<br />INDUSTRY PARTNERS (NE LOANS ONLY)
<br />
<br />(E) "MERS" is Mortgage Electronic Registration Systcms, Inc. MERS is a separate corporation that is acting solely as a
<br />nominee for Lender and Lender's sUl;cessors and assigns. MERS is the beneficiary under this Security Instrument . MFRS is
<br />organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI
<br />48501-2026, tel. (888) 679-MERS.
<br />
<br />Delaware
<br />
<br />(F) "Note" means the promissory note signed by Borrower and dated
<br />The Note states that Borrower owes Lender
<br />Sixty-Six Thousand Six Hundred and 00/100
<br />(U.S. $ 66,600.00
<br />Payments and to pay the debt in full not later than
<br />(G) "Property" means the property that is described
<br />
<br />December 13,2006
<br />
<br />Dollars
<br />) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />January 1,2037
<br />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 latc charges due under the
<br />Note, and all sums due under this Security Instrumcnt, plus interest.
<br />
<br />(I) "Riders" means all Riders to this Security Instrument that arc cxecuted by Borrower. The following Riders are to he
<br />executcd by BOITower [check box as applil;ablel:
<br />
<br />[Xl Adjustable Rate Rider D Condominium Rider
<br />
<br />D Balloon Rider D Planned Unit Development Rider
<br />
<br />D VA Rider D Biweekly Payment Rider
<br />
<br />D Second Home Rider
<br />D 1-4 Family Rider
<br />o Other(s) [specify]
<br />
<br />(J) "Applicable Law" means all controlling applil;able federal, state and local statutes, regulations, ordinanl;es and
<br />administrative rules and orders (that have the etJeet of law) as well as all applicable final, non-appealahle judicial opinions.
<br />
<br />(K) "Community Association Dues, Fees, and Assessments" means all dues, tees, assessments and other charges that arc
<br />imposed on Horrower or the Propeliy 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 clectronic terminal, telephonil; instrument, computer, or magnetil; 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-
<br />of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated
<br />clcaringhouse transfers.
<br />(M) "Escrow Items" means those items that are deseribcd in Section 3.
<br />
<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party
<br />(othcr than insurance proceeds paid undcr 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; (iii)conveyanl;e 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 />Initi.ls ':1\Q f... ,Jg
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<br />_ .6A(NE) (0407).01
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<br />DDS-NET
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