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Lender's address is
<br />343 Thornall Street, Edison, N) 08837
<br />Lender is the beneficiary under this Security Instrument.
<br />(D) "Trustee" is Western Pioneer Title Company
<br />(E) "Note" means the promissory note signed by Borrower and dated November 26, 2003
<br />The Note states that Borrower owes Lender
<br />Six hundred forty-nine thousand nine hundred fifty and 00/100 Dollars
<br />(U.S. $ 649,950.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic
<br />Payments and to pay the debt in full not later than December 1, 2033
<br />(F) "Property" means the property that is described below under the heading "Transfer of Rights in the
<br />Property. "
<br />(G) "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 />(H) "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 />Adjustable Rate Rider 0 Condominium Rider 0 Second Home Rider
<br />0 Balloon Rider 0 Planned Unit Development Rider 0 1-4 Family Rider
<br />0 VA Rider 0 Biweekly Payment Rider 0 Other(s) [specify]
<br />(I) "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 />(J) "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 />(I) "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 />(L) "Escrow Items" means those items that are described in Section 3.
<br />M "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 />(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
<br />the Loan.
<br />(O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the
<br />Note, plus (ii) any amounts under Section 3 of this Security Instrument.
<br />(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its
<br />implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to
<br />time, or any additional or successor legislation or regulation that governs the same subject matter. As used
<br />in this Security Instrument, "RESPA" refers to all requirements and restrictions that a e imposed in regard
<br />inti~s:
<br />10 -6 (OR) 10,04).0 1 Page 2 W, e Form 3038 1/01
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