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<br />200707884
<br />
<br />(C) "Lender" is AFS Financial, Inc.
<br />
<br />Lender is a corporation
<br />organized and existing under the laws of Rhode Island
<br />Lender's address is 25 Enterprise Center, Newport, RI 02842
<br />
<br />(D) ''Trustee'' is First American Title Insurance Company
<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 number 01'1'.0. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
<br />(F) "Note" means the promissory note signed by Borrower and dated August 21, 2007
<br />The Note states that 13orrower owes Lender twenty-eight thousand and 00/100
<br />Dollars
<br />(U. S. $ 28, 000 . 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 September 1, 2037
<br />(G) "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 arc executed by Borrower. The following
<br />Riders arc to be executed by Borrower [check box as applicable]:
<br />
<br />[J Adjustable Rate Rider
<br />D 13alloon Rider
<br />D VA Rider
<br />
<br />D Condominium Rider D Second Ilome Rider
<br />D Planned Unit Development Rider D I ~4 Family Rider
<br />D Biweekly Payment Rider 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 limitcd to, point-of-sale transfers, automatcd tcller
<br />mill:hine transactions, transfers initiated by telcphonc, wire transfers, and automated clearinghouse
<br />transfcrs.
<br />(M) "Escrow Items" mcans those items that arc described in Sedion 3.
<br />(N) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid
<br />by any third party (othcr than insurance proceeds paid undcr the coverages described in Scction 5) for: (i)
<br />damage to, or destruction of, the Property; (ii) l:ondemnation or other taking of all or any part of the
<br />Property; (iii) wnveyance in licu of l:ondemnation; or (iv) misrcprcsentations of, or omissions as to, thc
<br />value and/or condition of the Property.
<br />(0) "Mortgage Insurance" means insurance protecting Lendcr against the nonpayment of, or default on,
<br />the Loan. ,<is, ...-\\\(_\<~\ \..)3\(
<br />2007-921601 2007-3995
<br />C"_\C
<br />Initials:
<br />
<br />G-6A(NE) (0407).01
<br />@
<br />
<br />Poge 2 or 15
<br />
<br />Form 3028 1/01
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