|
<br />200702794
<br />
<br />DOC 10 #: 00016472195604007
<br />
<br />(D) "Trustee" is
<br />x~~~~xR&XERX~~X~~
<br />xix~xxx~~ZNR0RX~X~MXN~~XNEX~~~~~
<br />(E) "MER..li" is Mortgagc Electronic Registration Systems, Inc. MERS is a separate corporation that is acting
<br />solely as a nominee for Lendcr and Lender's succcssors and assigns. MERS is the beneficiary under this
<br />Security Instrument. MERS is organized and existing under the laws of Dclaware, and has an addrcss and
<br />telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679~MERS.
<br />(m "Note" means the promissory note signed by Borrower and dated APRIL 06, 2007
<br />Note states that Borrower owes Lender
<br />SEVENTY THOUSAND and 00/100
<br />
<br />Ticor Title Insurance Company
<br />
<br />. The
<br />
<br />Dollars (U.S. $ 70, 000 . 00 ) plus interest. Borrower has promised to pay this debt in regular
<br />Periodic Payment,> and to pay the debt in full not later than MAYO 1 , 2037
<br />(G) "Property" means the property that is described below under thc heading "Transfer of Rights in the
<br />Property. "
<br />(H) "Loan" means the debtcvidenced by the Note, plus interest, any prepayment charges and latc charges
<br />duc under the Note, and all sums due under this Security Instrument, plus interest.
<br />(I) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
<br />Riders are to bc executed by Borrowcr [check box as applicable]:
<br />
<br />D Adjustable Rate Rider
<br />D Balloon Rider
<br />D VA Rider
<br />
<br />D Condominium Rider D Second Home Rider
<br />D Planned Unit Development Rider D 1-4 Family Rider
<br />D Biweekly Paymcnt Rider D Othcr(s) [specify]
<br />
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative roles and orders (that have the effect of law) a'l wcll as all applicable final,
<br />non-appcalable judicial opinions.
<br />(K) "Community Association Dues, Fees, and Assessments" means all ducs, fces, assessments and othcr
<br />chargcs that are imposed on Borrower or the Propcrty by a condominium a'lsociation, homeowners association
<br />or similar organization.
<br />(1.,) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check,
<br />draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument,
<br />computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an
<br />account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine
<br />transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.
<br />(M) "Escrow Items" means those items that are dcscribed in Section 3.
<br />(N) "Miscellaneous Proceeds" means any compcnsation, settlement, award of damages, or proceeds paid by
<br />any third party (other than insurance proceeds paid under the coveragcs dcscribed in Section 5) for: (i) damage
<br />to, or destruction of, thc Property; (ii) condemnation or other taking of all or any part of the Propcrty; (iii)
<br />conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or
<br />condition of the Propcrty.
<br />(0) "Mortgage Insurance" means insurance protecting Lender against the nonpaymcnt of, or default on, the
<br />Loan.
<br />(P) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest undcr the
<br />Note, plus (ii) any amounts under Section 3 of this Security Instrument.
<br />(Q) "RESPA" means the Real Estate Settlement Proccdures Act (12 U.S.C. Section 2601 ct scq.) and its
<br />implemcnting regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from timc to time, or
<br />any additional or successor legislation or regulation that governs the same subject malter. As used in this
<br />Security Instrument, "RESPA" rcfcrs to all requiremcnt'l and restrictions that are imposed in regard to a
<br />"fcderally related mortgagc loan" even if the Loan does not qualify as a "federally related mortgage loan"
<br />under RESP A.
<br />(R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whcther or not
<br />that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
<br />
<br />TRANSFER OF RIGHTS IN THE PROPERTY
<br />The beneficiary of this Security Instrument is MERS (solely as nominee for Lender and Lendcr's successors
<br />and assigns) and the successors and assigns of MERS. This Security Instrument secures to Lendcr: (i) the
<br />repayment of thc Loan, and all renewals, extensions and modifications of the Note; and (ii) thc pcrformance of
<br />Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower
<br />irrevocably grant'l and conveys to Trustee, in trust, with power of sale, the following describcd property
<br />located in the
<br />
<br />COUNTY
<br />
<br />IType of Recording Jurisdiction]
<br />
<br />of
<br />
<br />HALL
<br />
<br />[Name of Recording Jurisdiction]
<br />
<br />~ -6A(NE) (0407)
<br />
<br />CHL (08/05)
<br />
<br />Page 2 of 11
<br />
<br />Form 3028 1/01
<br />
<br />'J~
<br />
|