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<br />200706000
<br />
<br />(C) "Lender" is
<br />FIRST MAGNUS FINANCIAL CORPORATION, AN ARIZONA CORPORATION
<br />
<br />Lender is a CORPORATION
<br />organized and existing under the laws of ARIZONA . M~
<br />Lender's address is B '\
<br />803 NORTH WILMOT ROAD, TUCSON, AZ 85711 ...... :
<br />(0) "Trustee" is iJ. "', .1 J/
<br />'P191J'f8/to/AJ'~"f~l-l'IfJr,m. TICOP TITLE INSURANCE COMPANY j\L-r. i, f
<br />
<br />(E) "MERS" is Mortgage Electronic 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 the laws of Delaware, and has an
<br />address and telephone of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
<br />(F) "Note" means the promissory note signed by Borrower and dated JULY 11, 2007
<br />The Note states that Borrower owes Lender
<br />8GHTY ONE THOUSAND NINE HUNDRED AND N0I100 X X X X X X X X X X X X X X X X X X X X X
<br />Dollars
<br />(U.S. $ 81,900.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than AUGUST 01, 2037
<br />(0) "Property" means the property that is described below under the heading "Transfer of Rights in the
<br />Property. "
<br />(H) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
<br />due 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 be executed by Borrower [check box as applicable]:
<br />D Adjustable Rate Rider D Condominium Rider D 1-4 Family Rider
<br />D Graduated Payment Rider D Planned Unit Development Rider D Biweekly Payment Rider
<br />D Balloon Rider D Rate Improvement Rider D Second Home Rider
<br />D Other(s) [specify]
<br />
<br />(J) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
<br />ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final,
<br />non-appealable judicial opinions.
<br />(K.) "Community Association Dues, Fees, and Assessments" means 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 />check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
<br />instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
<br />or credit 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 Section 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) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
<br />value and/or condition of the Property. . .(;,,/... .,.~.. \
<br />
<br />InKI.':~ i ,.2l
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