-
U.S. Department of Housing
And Urban Development OMB No. 2502-0265
A. Settlement Statement
B. Type of Loan: 1.  FHA 2.  FmHA 3.. Conv. Unins. 4.  VA 5.  Conv. Ins
6. File Number
00-000
C. NOTE:
7. Loan Number
6340-2393-2125
8. Mortgage Insurance Case Number
2002-20202
This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p.o.c.)"
were paid outside the closing, they are shown here for informational purposes and are not included in the totals.
D. NAME AND ADDRESS OF BORROWER:
Michael L. Borrower and Nancy Borrower
11 Oldhome Way, Malden, Massachusetts 02148
E. NAME AND ADDRESS OF SELLER:
Samuel Seller and Nancy Seller
100 New Place, Wayland, Massachusetts 01778
Sample Originator Mortgage, Inc.
100 Main Street, Peabody, Massachusetts 01960
G. PROPERTY LOCATION:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
H. SETTLEMENT AGENT:
Standard Law Office, ,
PLACE OF SETTLEMENT:
110 Florence Street, Malden, Massachusetts 02148
I. SETTLEMENT DATE:
June 13, 2003
DISBURSEMENT DATE:
June 13, 2003
J.
SUMMARY OF BORROWER'S TRANSACTION
K.
SUMMARY OF SELLER'S TRANSACTION
F. NAME AND ADDRESS OF LENDER:
100. GROSS AMOUNT DUE FROM BORROWER
101. Contract sales price
102. Personal property
103. Settlement charges to borrower (from Line 1400)
104.
105.
$500,000.00
$14,349.41
ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE:
106. City/town taxes
06/13/2003 to 06/30/2003
107. County taxes
to
108. Assessments
to
109. Condominium Fee 06/13/2003 to 06/30/2003
110.
111.
112.
120. GROSS AMOUNT DUE FROM BORROWER:
$118.44
$59.22
$514,527.07
406. City/town taxes
06/13/2003to 06/30/2003
407. County taxes
to
408. Assessments
to
409. Condominium Fee
06/13/2003 to 06/30/2003
410.
411.
412.
420. GROSS AMOUNT DUE TO SELLER:
300. CASH AT SETTLEMENT FROM/TO BORROWER:
$118.44
$59.22
$500,177.66
500. REDUCTIONS IN AMOUNT DUE TO SELLER:
$20,000.00
$450,000.00
501. Excess deposit (see instructions)
502. Settlement charges to seller (Line 1400)
503. Existing loan(s) taken subject to
504. Country Wide Home Loans, Inc.-Payoff
505.
506. Deposit Retained by R.E. Broker
507.
508.
509.
ADJUSTMENTS FOR ITEMS UNPAID BY SELLER:
210. City/town taxes
to
211. County taxes
to
212. Assessments
to
213. Condominium Fee to
214.
215.
216.
217.
218.
219.
220. TOTAL PAID BY/FOR BORROWER:
$500,000.00
ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE:
200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER:
201. Deposit or earnest money
202. Principal amount of new loan(s)
203. Existing loan(s) taken subject to
204.
205.
206.
207.
208.
209.
400. GROSS AMOUNT DUE TO SELLER:
401. Contract sales price
402. Personal property
403.
404.
405.
$12,555.00
$246,335.00
$20,000.00
ADJUSTMENTS FOR ITEMS UNPAID BY SELLER:
$470,000.00
510. City/town taxes
to
511. County taxes
to
512. Assessments
to
513. Condominium Fee
to
514.
515.
516.
517.
518.
519.
520. TOTAL REDUCTIONS AMOUNT DUE SELLER:
$278,890.00
600. CASH AT SETTLEMENT TO/FROM SELLER:
301. Gross amount due from borrower (Line 120)
$514,527.07 601. Gross amount due to seller (Line 420)
$500,177.66
302. Less amount paid by/for borrower (Line 220)
$470,000.00 602. Less reductions in amount due seller (Line 520)
$278,890.00
303. CASH ( From/To ) Borrower
$44,527.07 603. CASH ( From/To ) Seller
$221,287.66
We, the undersigned, identified in Section D hereof and Seller in Section E hereof, hereby acknowledge receipt of this completed Settlement Statement on June 13, 2003.
SELLER(S)
Samuel Seller
Nancy Seller
BORROWER(S)
Michael L. Borrower
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Nancy Borrower
L. SETTLEMENT CHARGES
700. TOTAL SALES/BROKERAGE COMMISSION BASED ON PRICE: $500,000.00 @ 0.00% =
DIVISION OF COMMISSION (LINE 700) AS FOLLOWS:
701. $15,000.00
to Real Estate, Inc.
702. $15,000.00
to The Real Estate Shop
703. Commission paid at Settlement
704. Deposit Retained by R.E. Broker
Paid From
Borrower’s
Funds at
Settlement
Paid From
Seller's
Funds at
Settlement
$10,000.00
$20,000.00 p.o.c.
800. ITEMS PAYABLE IN CONNECTION WITH LOAN:
801. Loan Origination Fee 1.0000%
to Sample Originator Mortgage, Inc.
802. Loan Discount 1.0000%
to Sample Originator Mortgage, Inc.
803. Appraisal Fee
to AAA Appraisers
$250.00 p.o.c.
804. Credit Report
to TRW
$35.00 p.o.c.
805. Redraw Documents
to Sample Originator Mortgage, Inc.
806. Wire Transfer Fee
to Sample Originator Mortgage, Inc.
807. Assumption Fee
to
808.
to
809.
to
810.
to
811.
to
812.
to
813.
to
814.
to
815.
to
816.
to
900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE:
901. Interest from
06/13/2003
to 07/01/2003 at 67.8082/Day 18 day(s)
902. Mortgage Insurance Premium for
0 Months
to
903. Hazard Insurance Premium for
1 Years
to Travelers Insurance
$1,000.00 p.o.c.
904.
0 Years
to
905.
to
1000. RESERVES DEPOSITED WITH LENDER:
1001. Hazard Ins
3 months at
$72.83 per month to Travelers
1002. Mortgage Ins
0 months at
per month
to
1003. City Tax
3 months at
$200.00 per month to City of Medford, MA
1004. County Tax
0 months at
per month
to
1005. Assessments
0 months at
per month
to
1006.
0 months at
per month
to
1007.
0 months at
per month
to
1008. Aggregate Adjustment
1100. TITLE CHARGES:
1101. Settlement or closing fee
to Standard Law Office
1102. Abstract or title search
to Sample Title Examiner
1103. Title examination
to
1104. Title insurance binder
to
1105. Document preparation
to
1106 Notary fees
to
1107. Attorney's fees
to
(includes above item numbers: )
1108. Title Insurance
to Fidelity National Title Insurance Company
$475.00 p.o.c.
(includes above item numbers: )
1109. Lender's coverage $450,000.00 @ $1,125.00 $1,110.00
to Standard Law Office
1110. Owner's coverage $500,000.00 @ $725.00
$740.00
to Fidelity National Title Insurance Company
1111. Obtain MLC
to City of Medford
1112.
to
1113.
to
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES:
1201. Recording fees:
Deed
$125.00
Mortgage
$175.00 Release(s)
$75.00
1202. City/county tax/stamps:
Deed
Mortgage:
1203. State tax/stamps:
Deed
$2,280.00
Mortgage:
1204. Record Assignment
to
1205. Record MLC
to Middlesex County Registry of Deeds
1300. ADDITIONAL SETTLEMENT CHARGES:
1301.Obtain/Review Survey
to Boston Survey
1302. Overnight Delivery
to Federal Express
1303. Deed Preparation
to Standard Law Office
1304. Discharge Service Fee
to Standard Law Office
1305.
to
1306.
to
1307.
to
1308.
to
1400. TOTAL SETTLEMENT CHARGES (Enter on Line 103, Sec. J-and-Line 502, Sec. K)
$4,500.00
$4,500.00
$100.00
$65.00
$1,220.55
$600.00
$218.49
$600.00
$-478.63
$500.00
$160.00
$1,850.00
$25.00
$300.00
$75.00
$2,280.00
$14.00
$150.00
$25.00
$14,349.41
$25.00
$100.00
$75.00
$12,555.00
We, the undersigned, identified in Section D hereof and Seller in Section E hereof, hereby acknowledge receipt of this completed Settlement Statement (Pages 1 and 2) on June 13, 2003.
SELLER(S)
Samuel Seller
Nancy Seller
BORROWER(S)
Michael L. Borrower
Nancy Borrower
The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed in accordance with this
statement.
Settlement Agent:
Date:
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OWNER OCCUPANCY AGREEMENT
The following Agreement is made on June 13, 2003 between Michael L. Borrower and Nancy Borrower,tenants by the
entirety, Borrowers and Sample Originator Mortgage, Inc., Lender.
1. This Agreement is made with reference to the following facts:
A.
B.
C.
D.
Lender is engaged in the business of making loans secured by residential properties.
Borrowers desire to obtain a loan from Lender in the sum of $450,000.00 and will execute a mortgage or deed of
trust ("Security Instrument") against the property located at Unit 34 of Riverview, 88 Wasmyhome Way,
Medford, Massachusetts 02155 (the "Property") as security for making the loan.
To induce Lender to make the loan, Borrowers have represented that the Property will be owner-occupied (as
defined below) within 60 days after recordation of the Security Instrument and at all times during the one year
period immediately following recordation of the Security Instrument.
Borrowers acknowledge that: (1) Lender would not have agreed to make the loan if the Property was not to be
owner-occupied; (2) the interest rate as set forth on the face of the note and other material terms of the loan were
determined as a result of Borrowers' representations that the Property would be owner-occupied; (3) purchasers of
loans, including government agencies, associations and corporations created by federal and state governments
typically require that properties securing loans they purchase be owner-occupied; (4) Lender's ability to sell a loan
(which it often does in the ordinary course of business) will be impaired if the property is not owner-occupied; (5)
the risks involved and the costs of holding and administering a loan are often higher in the case of a loan where the
property is not owner-occupied; (6) if and when Lender makes a loan secured by non-owner occupied property,
Lender typically makes such a loan on different terms from loans secured by owner-occupied property; and (7) the
damage which would be substantiated by Lender if Borrowers breach this Agreement would be extremely difficult
and costly to remedy.
2. Lender and Borrowers, therefore, agree as follows:
A.
B.
C.
D.
E.
F.
G.
Borrowers agree and warrant that the Property will be owner-occupied (as defined below) within 60 days after the
Security Instrument is recorded and at all times during the one year period immediately after the Security
Instrument is recorded.
If the Property is not owner-occupied (as defined below) within 60 days after the Security Instrument is recorded
and at all times during the one year period immediately after the Security Instrument is recorded. Lender, its
successors and assigns, at its option, may, but need not: (1) declare all sums secured by the Security Instrument
immediately due and payable; (2) raise the interest rate on the note to the rate charged by Lender for non-owner
occupied loans at the time Lender exercises its option to so raise the rate; (3) demand that the outstanding principal
balance of the note be reduced by the Borrowers to a level (or maximum loan to value) normally required by the
Lender for non-owner occupied loans at the time Lender exercises its option to ask that the loan amount be
reduced; or (4) collect from Borrowers the additional fees and discount points normally charged by Lender for
non-owner occupied loans at the time Lender exercises its option to ask that the additional fees be paid.
As used in this Agreement, the term "owner-occupied" means that the property is used as the principal residence of
the Borrowers. The property shall be deemed non-owner occupied if the Borrowers transfer any possessory
interest in the property without the written consent of the Lender, its successors or assigns.
Lender may conduct a physical inspection of the Property 60 days after the Security Instrument is recorded to
determine the occupancy status. There may also be randomly announced inspections thereafter for a reasonable
time period. If it is determined during these inspections that the property is rented for seasonal purposes or
permanently non-owner occupied, Lender will enforce its remedies under the Security Instrument, and this
Agreement including declaring all sums secured by the Security Instrument immediately due and payable.
This Agreement is incorporated into and made a part of the Security Instrument. A breach of any of the conditions
of this Agreement will constitute a default under the terms and provisions of the Security Instrument.
If litigation is brought in connection with a breach of this Agreement by the Borrowers or Lender, the prevailing
party shall be entitled to recover reasonable attorneys' fees and costs.
This Agreement is binding upon the parties, their heirs, administrators, executors, personal representatives,
successors and assigns.
Michael L. Borrower
Nancy Borrower
Sample Originator Mortgage, Inc.
By:
We acknowledge receiving a copy of the Owner-Occupancy Agreement. We certify that we will occupy the Property under
the conditions described above. We fully understand that it is a Federal crime punishable by fine or imprisonment to make
any false statements concerning any of the above facts, as applicable under provisions of Title 18, United States Code,
Section 1014.
Michael L. Borrower
Error! AutoText entry not defined.
Nancy Borrower
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AGREEMENT
RE: REAL ESTATE TAXES AND UTILITIES
Closing Date
06/13/2003
Property
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
Buyer(s)
Seller(s)
Michael L. Borrower and Nancy Borrower
Samuel Seller and Nancy Seller
The above parties agree that (unless the parties have made some other specific arrangements) Seller is liable for all taxes and
utility bills up to and including the date of closing and municipal betterments assessed up to and including the date of the Purchase
and Sale Agreement, Buyer is liable for all taxes, utility bills and betterments after the date of closing. So that the charges are paid
in an orderly manner the parties agree to and acknowledge:
Real estate taxes have been adjusted or otherwise accounted for in the following manner:

A. The parties agree to adjust the real estate taxes by themselves outside of the closing, without involving the bank or
the closing attorney.

B.
The tax rate has been set, the amount of the taxes is known and the taxes have been adjusted at the closing. If the
adjustment is incorrect due to misinformation or clerical error the parties agree to readjust the taxes in accordance
with the corrected information obtained.

C.
The amount of the real estate taxes on the above property is not known at this time. The taxes have this day been
apportioned to the best judgement of the parties. The parties hereto agree to reapportion the taxes when the actual
tax bill is issued. If the bill is in excess of the amount as apportioned this day, the Seller agrees to pay to the Buyer
such portions of the same as the apportionment would show to be due by them and the Buyer agrees that if the tax
bill is less than the amount as apportioned this day the Buyer agrees to pay to the Seller that portion of the taxes
which had been paid by the Seller in excess of the amount that they should have paid.

D. (other)
It is understood that real estate tax bills will not be in the name of the Buyer for approximately one year. Seller will forward any
tax bills received to the Buyer. However, Buyer acknowledges that Buyer is primarily responsible for knowing when taxes are
due and obtaining a tax bill from the Seller or directly from the Tax Collector's office. Buyer will pay interest and penalties if
assessed.
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Utilities and Similar Liens:
Water, sewer and possibly gas and electric charges due to the City or Town should appear on the Municipal Lien Certificate if a
Certificate is available at the closing. However, the figures shown on the Certificate are frequently out of date (the figure shown
has already been paid and a new monthly bill has been issued). Also amounts due for water, utilities (either public or privately
owned), oil, taxes, including water or fire district taxes, and any other charges are based on figures supplied by the municipality,
agency, real estate broker, buyer or seller. The parties understand that these figures may be estimates. Due to this lack of certainty
the items referred to in this paragraph have not been adjusted. The parties agree to make these adjustments between themselves
without involving the lending institution or closing attorney. However, if an exact figure is available or the parties can obtain an
exact figure within a reasonable time after closing, those figures will be included at the option of the parties.
The Buyer and Seller in consideration of the purchase and sale of the property each promise and guarantee to the other that they
pay any sums for which they are responsible.
The Buyer and Seller each agree to supply the other with a forwarding address for future correspondence.
The Buyers, Borrowers, and Sellers jointly and severally and for good and valuable consideration, agree to execute and deliver to
Standard Law Office whatever additional documents or amendments to existing documents, which are reasonably required to
effectuate the transaction provided such additional documents are prepared by said closing attorney and do not in any way
adversely affect, or otherwise enlarge the liability of, any of the undersigned relative to said transaction.
Tax and Mortgage Payoff Information
The undersigned Seller(s) have been informed and understand that the settlement agent is relying on information provided by the
appropriate municipality concerning municipal liens and by the lending institution(s) with regard to any outstanding mortgages.
The undersigned Seller(s) shall remain liable to the settlement agent in the event that any of said information is incorrect and as a
result the full amount owing to said municipality and/or lending institution is not collected from said Seller(s).
SELLER(S)
Samuel Seller
Nancy Seller
BORROWER(S)
Michael L. Borrower
Signed in the presence of:
Witness
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Nancy Borrower
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ATTORNEY'S CERTIFICATION OF TITLE
Malden, Massachusetts
I hereby certify to the mortgagor and the mortgagee, only if required by M.G.L.A. c.93, Section 70, named herein that I have had
the title to the hereinafter mentioned real property examined, relying on the records of the Registry of Deeds and the Registry of
Probate of Middlesex County that, at the time of recording the mortgage, the mortgagor holds good, clear and marketable title of
record to the property herein named, free from all encumbrances which would materially affect the title, and excepting only
matters which are expressly enumerated therein, and the mortgagee is the holder of a satisfactory first mortgage of record given by
Michael L. Borrower and Nancy Borrower, Mortgagor, to Sample Originator Mortgage, Inc., Mortgagee, dated June 13,
2003, covering premises at Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155, and securing the
payment of a note in the sum of $450,000.00, said mortgage being duly recorded by me in Middlesex South Registry of Deeds
Liability herein for rendering such certification to the mortgagor shall be limited to the amount of the consideration as shown on
the deed and liability for rendering such certification to the mortgagee shall be effective for the benefit of the mortgagor only as
long as said mortgagor owns the said premises and for the benefit of the mortgagee only as long as the mortgage is in existence,
and excepting the following matters:
1.
ANY DEFECTS OR OTHER ENCUMBRANCES WHICH A SURVEY OR PLOT PLAN OF THE PREMISES
WOULD REVEAL.
2.
MATTERS NOT OF RECORD.
3.
PROVISIONS OF BUILDING CODES AND LAWS AND ZONING LAW.
4.
ANY STATE, FEDERAL, OR LOCAL LAW OR ORDINANCE OR REGULATION WHICH MAY AFFECT THE
USE OR OCCUPANCY OR RENTAL OF THE MORTGAGED PREMISES AND ALL MATTERS PERTAINING
TO RENT CONTROL AND HOUSING INSPECTION.
6.
An easement given by John E. Small to David Kimball dated March 24, 1965 and recorded on March 25, 1965
at Book 09856, Page 234 with said Registry.
NOTE: Subject to covenants, conditions, restrictions, reservations, easements, liens for assessments, options, powers of attorney,
and limitations on title, created by the laws of Commonwealth of Massachusetts or as set forth in the Master Deed or
Declaration of Condominium, in the related By-Laws, in the Declaration of Trust, or Site Plans and Floor Plans as duly
recorded with Middlesex South Registry of Deeds as the same may have been lawfully amended.
This certification is subject to and does not include nor does it cover any matter which might have been disclosed by inquiry,
examination, or investigation of the aforesaid enumerated matters.
Standard Law Office
The undersigned mortgagor(s) named in the instrument hereby acknowledge receipt of a copy of this certification.
Borrowers
Michael L. Borrower
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Nancy Borrower
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Deed
I/We, Samuel Seller and Nancy Seller, of 100 New Place, Wayland, Massachusetts 01778 in consideration of Five Hundred
Thousand and 00/100 Dollars ($500,000.00 ) Dollars grant to Michael L. Borrower and Nancy Borrower, tenants by the
entirety of 11 Oldhome Way, Malden, Massachusetts 02148 with QUITCLAIM
COVENANTS
Being the same premises conveyed to Samuel Seller and Nancy Seller, Dated August 8, 1988 and Recorded with the
Middlesex South Registry of Deeds on August 8, 1988 at 12:30 PM at Book 42322 Page 22213
Executed as a sealed instrument this 13th day of June, 2003.
Samuel Seller
Commonwealth of Massachusetts
Nancy Seller
Middlesex, ss:
On this 13th day of June, 2003, before me personally appeared Samuel Seller and Nancy Seller, to me known to be the
person(s) described in and who executed the foregoing instrument, and acknowledged that he/she/they executed the same as
his/her/their free act and deed.
Joe Attorney
Notary Public
My Commission Expires: February 15, 2005
X
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CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this 13th day of June, 2003, and is incorporated into and shall
be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument")
of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to Sample Originator
Mortgage, Inc. (the "Lender") of the same date and covering the Property described in the Security Instrument
and located at:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
[Property Address]
The Property includes a unit in, together with an undivided interest in the common elements of, a condominium
project known as:
Riverview
[Name of Condominium Project]
(the "Condominium Project"). If the owners association or other entity which acts for the Condominium Project
(the "Owners Association") holds title to property for the benefit or use of its members or shareholders, the
Property also includes Borrower's Interest in the Owners Association and the uses, proceeds and benefits of
Borrower's interest.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the
Security Instrument, Borrower and Lender further covenant and agree as follows:
A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under the
Condominium Project's Constituent Documents. The "Constituent Documents" are the: (i) Declaration or any
other document which creates the Condominium Project; (ii) by-laws; (iii) code or regulations; and (iv) other
equivalent documents. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to
the Constituent Documents.
B. Property Insurance. So long as the Owners Association maintains, with a generally accepted
insurance carrier, a "master" or "blanket" policy on the Condominium Project which is satisfactory to Lender and
which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss
by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited
to, earthquakes and floods, from which Lender requires insurance, then: (i) Lender waives the provision in
Section 3 for the Periodic Payment to lender of the yearly premium installments for property insurance on the
property; and (ii) Borrower's obligation under Section 5 to maintain insurance coverage on the Property is
deemed satisfied to the extent that the required coverage is provided by the Owners Association policy.
What Lender requires as a condition of this waiver can change during the term of the loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided
by the master or blanket policy.
In the event of distribution of property insurance proceeds in lieu of restoration or repair following a
loss to the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby
assigned and shall be paid to Lender for application to the sums secured by the Security Instrument, whether or
not then due, with the excess, if any, paid to Borrower.
C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that
the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of
coverage to Lender.
D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable
to Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of
the unit or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and
shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument
as provided in Section 11.
E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior
written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of
the Condominium Project, except for abandonment or termination required by law in the case of substantial
destruction by fire or other casualty or in the case of taking by condemnation or eminent domain; (ii) any
amendment to any provision of the Constituent Documents if the provision is for the express benefit of Lender;
MULTISTATE CONDOMINIUM RIDER--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Error! AutoText entry not defined.
Form 3140 1/01
(page 1 of 2 pages)
-
(iii) termination of professional management and assumption of self-management of the Owners Association; or
(iv) any action which would have the effect of rendering the public liability insurance coverage maintained by
the Owners Association unacceptable to Lender.
F. Remedies. If Borrower does not pay condominium dues and assessments when due, then Lender may
pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower
secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts
shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice
from Lender to Borrower requesting payment.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this
Condominium Rider.
Michael L. Borrower
Nancy Borrower
MULTISTATE CONDOMINIUM RIDER--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Error! AutoText entry not defined.
Form 3140 1/01
(page 2 of 2 pages)
Sample Investor Mortgage, Inc.
500 Investor Boulevard
Suite 213
Framingham, MA 01701
Loan No. 6340-2393-2125
File No: 00-000
Property Address : Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
[Space Above This Line For Recording Data]
MORTGAGE
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in
Sections 3, 11, 13, 18, 20, and 21. Certain rules regarding the usage of words used in this document are
also provided in Section 16.
(A) "Security Instrument" means this document, which is dated June 13, 2003, together with all Riders
to this document.
(B) "Borrower" is Michael L. Borrower and Nancy Borrower. Borrower is the mortgagor under this
Security Instrument.
(C) "Lender" is Sample Originator Mortgage, Inc.. Lender is a corporation, organized and existing
under the laws of Commonwealth of Massachusetts. Lender's address is 100 Main Street, Peabody,
Massachusetts 01960. Lender is the mortgagee under this Security Instrument.
(D) "Note" means the promissory note signed by Borrower and dated June 13, 2003. The Note states that
Borrower owes Lender Four Hundred Fifty Thousand and 00/100 Dollars (U.S. $450,000.00) plus
interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full
not later than July 1, 2033.
(E) "Property" means the property that is described below under the heading "Transfer of Rights in the
Property."
(F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
due under the Note, and all sums due under this Security Instrument, plus interest.
(G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicable]:
 Adjustable Rate Rider
 Condominium Rider
 Second Home Rider
 Balloon Rider
 Planned Unit Development Rider
 Other(s) [specify]
EXHIBIT "A".
 1-4 Family Rider
 Biweekly Payment Rider
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(H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final,
non-appealable judicial opinions.
(I) "Community Association Dues, Fees and Assessments" means all dues, fees, assessments and other
charges that are imposed on Borrower or the Property by a condominium association, homeowners
association or similar organization.
(J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by
check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller
machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
transfers.
(K) "Escrow Items" mean those items that are described in Section 3.
(L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid
by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the
Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
value and/or condition of the Property.
(M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default
on, the Loan.
(N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under
the Note, plus (ii) any amounts under Section 3 of this Security Instrument.
(O) "RESPA" means t
implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to
time, or any additional or successor legislation or regulation that governs the same subject matter. As
used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in
regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related
mortgage loan" under RESPA.
(P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or
not that party has assumed Borrower's obligations under the Note and/or this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions
and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under
this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and
convey to Lender and Lender's successors and assigns, with power of sale, the following described
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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property located in the County [Type of Recording Jurisdiction] of Middlesex [Name of Recording
Jurisdiction]
Meaning and intending to convey and hereby conveying the same premises conveyed to (me/us) by deed
recorded herewith.
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
which currently has the address of Unit 34 of Riverview, 88 Wasmyhome Way, Medford,
Massachusetts 02155 ("Property Address"):
TOGETHER WITH all the improvements now or hereafter erected on the property, and all
easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and
additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
Security Instrument as the "Property."
BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and
has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except
for encumbrances of record. Borrower warrants and will defend generally the title to the Property against
all claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform
covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any
prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items
pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S.
currency. However, if any check or other instrument received by Lender as payment under the Note or
this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent
payments due under the Note and this Security Instrument be made in one or more of the following forms,
as selected by Lender: (a) cash; (b) money order;(c) certified check, bank check, treasurer's check or
cashier's check, provided any such check is drawn upon an institution whose deposits
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are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or
at such other location as may be designated by Lender in accordance with the notice provisions in Section
15. Lender may return any payment or partial payment if the payment or partial payments are insufficient
to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the
Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or
partial payments in the future, but Lender is not obligated to apply such payments at the time such
payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender
need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes
payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender
shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied
to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
which Borrower might have now or in the future against Lender shall relieve Borrower from making
payments due under the Note and this Security Instrument or performing the covenants and agreements
secured by this Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all
payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest
due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments
shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts
shall be applied first to late charges, second to any other amounts due under this Security Instrument, and
then to reduce the principal balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and
the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment
received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each
payment can be paid in full. To the extent that any excess exists after the payment is applied to the full
payment of one or more Periodic Payments, such excess may be applied to any late charges due.
Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due
under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due
for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a
lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c)
premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance
premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
Items." At origination or at any time during the term of the Loan, Lender may require that Community
Association Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues,
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fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of
amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless
Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive
Borrower’s obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver
may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where
payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender
and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period
as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all
purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
"covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly,
pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise
its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to
repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any
time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to
Lender all Funds, and in such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to
apply the Funds at the time specified under RESPA and (b) not to exceed the maximum amount a lender
can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
Law.
The Funds shall be held in an institution whose deposits are insured by a federal agency,
instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the
time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds,
annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower
interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is
made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required
to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing,
however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
annual accounting of the Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender
shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to
make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
Borrower any Funds held by Lender.
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4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions
attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any.
To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in
Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument
unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner
acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in
good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion
operate to prevent the enforcement of the lien while those proceedings are pending, but only until such
proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender
subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is
subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a
notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall
satisfy the lien or take one or more of the actions set forth above in this Section 4.
Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or
reporting service used by Lender in connection with this Loan.
5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected
on the Property insured against loss by fire, hazards included within the term "extended coverage," and
any other hazards including, but not limited to, earthquakes and floods, for which Lender requires
insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the
periods that Lender requires. What Lender requires pursuant to the preceding sentences can change
during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower
subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised
unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time
charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood
zone determination and certification services and subsequent charges each time remappings or similar
changes occur which reasonably might affect such determination or certification. Borrower shall also be
responsible for the payment of any fees imposed by the Federal Emergency Management Agency in
connection with the review of any flood zone determination resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any
particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might
not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk,
hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower
acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of
insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5
shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear
interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon
notice from Lender to Borrower requesting payment.
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All insurance policies required by Lender and renewals of such policies shall be subject to
Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name
Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies
and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid
premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise
required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard
mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender.
Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower
otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required
by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is
economically feasible and Lender's security is not lessened. During such repair and restoration period,
Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect
such Property to ensure the work has been completed to Lender's satisfaction, provided that such
inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in
a single payment or in a series of progress payments as the work is completed. Unless an agreement is
made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall
not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the
sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security
would be lessened, the insurance proceeds shall be applied to the sums secured by this Security
Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds
shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance
claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the
insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day
period will begin when the notice is given. In either event, or if Lender acquires the Property under
Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance
proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and
(b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by
Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the
coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property
or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender
otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
extenuating circumstances exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall
not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the
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Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in
order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is
determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall
promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such
purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series
of progress payments as the work is completed. If the insurance or condemnation proceeds are not
sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the
completion of such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give
Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application
process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's
knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender
(or failed to provide Lender with material information) in connection with the Loan. Material
representations include, but are not limited to, representations concerning Borrower's occupancy of the
Property as Borrower's principal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security
Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security
Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property
and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for
condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security
Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender
may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and
rights under this Security Instrument, including protecting and/or assessing the value of the Property, and
securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any
sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c)
paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security
Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but
is not limited to, entering the Property to make repairs, change locks, replace or board up doors and
windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and
have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not
have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability
for not taking any or all actions authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower
secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
payment.
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If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the
lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless
Lender agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the
Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for
any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the
mortgage insurer that previously provided such insurance and Borrower was required to make separately
designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums
required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a
cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from
an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance
coverage is not available, Borrower shall continue to pay to Lender the amount of the separately
designated payments that were due when the insurance coverage ceased to be in effect. Lender will
accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance.
Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full,
and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender
can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the
period that Lender requires) provided by an insurer selected by Lender again becomes available, is
obtained, and Lender requires separately designated payments toward the premiums for Mortgage
Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was
required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower
shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable
loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written
agreement between Borrower and Lender providing for such termination or until termination is required
by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate
provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it
may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage
Insurance.
Mortgage insurers evaluate their total risk on all such insurance in force from time to time, any
may enter into agreements with other parties that share or modify their risk, or reduce losses. These
agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party
(or parties) to these agreements. These agreements may require the mortgage insurer to make payments
using any source of funds that the mortgage insurer may have available (which may include funds
obtained from Mortgage Insurance premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer,
any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that
derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
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(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the
amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any
refund.
(b) Any such agreements will not affect the rights Borrower has, if any, with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights
may include the right to receive certain disclosures, to request and obtain cancellation of the
Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During
such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until
Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's
satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs
and restoration in a single disbursement or in a series of progress payments as the work is completed.
Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security
would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous
Proceeds shall be applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
the excess, if any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair
market value of the Property immediately before the partial taking, destruction, or loss in value is equal to
or greater than the amount of the sums secured by this Security Instrument immediately before the partial
taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to
Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair
market value of the Property immediately before the partial taking, destruction, or loss in value is less
than the amount of the sums secured immediately before the partial taking, destruction, or loss in value,
unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to
the sums secured by this Security Instrument whether or not the sums are then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third
party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of
action in regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in
Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's
interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be
dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material
impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of
any award or claim for damages that are attributable to the impairment of Lender's interest in the Property
are hereby assigned and shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be
applied in the order provided for in Section 2.
12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
payment or modification of amortization of the sums secured by this Security Instrument granted by
Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of
Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence
proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or
otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand
made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in
exercising any right or remedy including, without limitation, Lender's acceptance of payments from third
persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall
not be a waiver of or preclude the exercise of any right or remedy.
13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower
covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any
Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is cosigning this Security Instrument only to mortgage, grant and convey the co-signer's interest in the
Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to
extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument
or the Note without the co-signer's consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes
Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain
all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from
Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in
writing. The covenants and agreements of this Security Instrument shall bind (except as provided in
Section 20) and benefit the successors and assigns of Lender.
14. Loan Charges. Lender may charge Borrower fees for services performed in connection with
Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this
Security Instrument, including, but not limited to, attorneys’ fees, property inspection and valuation fees.
In regard to any other fees, the absence of express authority in this Security Instrument to charge a
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may
not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally
interpreted so that the interest or other loan charges collected or to be collected in connection with the
Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary
to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which
exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by
reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund
reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge
(whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such
refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might
have arising out of such overcharge.
15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument
must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed
to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's
notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers
unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address
unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly
notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's
change of address, then Borrower shall only report a change of address through that specified procedure.
There may be only one designated notice address under this Security Instrument at any one time. Any
notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address
stated herein unless Lender has designated another address by notice to Borrower. Any notice in
connection with this Security Instrument shall not be deemed to have been given to Lender until actually
received by Lender. If any notice required by this Security Instrument is also required under Applicable
Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security
Instrument.
16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be
governed by federal law and the law of the jurisdiction in which the Property is located. All rights and
obligations contained in this Security Instrument are subject to any requirements and limitations of
Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it
might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In
the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable
Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
given effect without the conflicting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include
corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and
include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to
take any action.
17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security
Instrument.
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18,
"Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited
to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or
escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser.
If all or any part of the Property or any Interest in the Property is sold or transferred (or if
Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without
Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this
Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited
by Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice
shall provide a period of not less than 30 days from the date the notice is given in accordance with Section
15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to
pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this
Security Instrument without further notice or demand on Borrower.
19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,
Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time
prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in
this Security Instrument; (b) such other period as Applicable Law might specify for the termination of
Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those
conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security
Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or
agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not
limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for
the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and
(d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and
rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security
Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums
and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c)
certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon
an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic
Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured
hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall
not apply in the case of acceleration under Section 18.
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest
in the Note (together with this Security Instrument) can be sold one or more times without prior notice to
Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects
Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan
servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be
one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan
Servicer, Borrower will be given written notice of the change which will state the name and address of the
new Loan Servicer, the address to which payments should be made and any other information RESPA
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is
serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations
to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not
assumed by the Note purchaser unless otherwise provided by the Note purchaser.
Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an
individual litigant or the member of a class) that arises from the other party's actions pursuant to this
Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by
reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such
notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the
other party hereto a reasonable period after the giving of such notice to take corrective action. If
Applicable Law provides a time period which must elapse before certain action can be taken, that time
period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and
opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to
Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective
action provisions of this Section 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those
substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the
following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides
and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive
materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is
located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes
any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an
"Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an
Environmental Cleanup.
Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower
shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any
Environmental Law, (b) which creates an Environmental Condition or (c) which, due to the presence, use,
or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property.
The preceding two sentences shall not apply to the presence, use, or storage on the Property of small
quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential
uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer
products).
Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand,
lawsuit or other action by any governmental or regulatory agency or private party involving the Property
and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any
Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of
release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a
Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified
by any governmental or regulatory authority, or any private party, that any removal or other remediation
of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all
necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any
obligation on Lender for an Environmental Cleanup.
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration
following Borrower's breach of any covenant or agreement in this Security Instrument (but not
prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall
specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days
from the date the notice is given to Borrower, by which the default must be cured; and (d) that
failure to cure the default on or before the date specified in the notice may result in acceleration of
the sums secured by this Security Instrument and sale of the Property. The notice shall further
inform Borrower of the right to reinstate after acceleration and the right to bring a court action to
assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If
the default is not cured on or before the date specified in the notice, Lender at its option may
require immediate payment in full of all sums secured by this Security Instrument without further
demand and may invoke the STATUTORY POWER OF SALE and any other remedies permitted
by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the
remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and
costs of title evidence.
If Lender invokes the STATUTORY POWER OF SALE, Lender shall mail a copy of a
notice of sale to Borrower, and to other persons prescribed by Applicable Law, in the manner
provided by Applicable Law. Lender shall publish the notice of sale, and the Property shall be sold
in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at
any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the
sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security
Instrument; and (c) any excess to the person or persons legally entitled to it.
23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall
discharge this Security Instrument. Borrower shall pay any recordation costs. Lender may charge
Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for
services rendered and the charging of the fee is permitted under Applicable Law.
24. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes
all rights of courtesy and dower in the Property.
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this
Security Instrument and in any rider(s) executed by Borrower and recorded with it.
Witness
Michael L. Borrower
Nancy Borrower
[Space Below This Line For Acknowledgment]
Commonwealth of Massachusetts
Middlesex, ss:
On this 13th day of June, 2003, before me personally appeared Michael L. Borrower and Nancy Borrower, to me known to
be the person(s) described in and who executed the foregoing instrument, and acknowledged that he/she/they executed the
same as his/her/their free act and deed.
Joe Attorney
Notary Public
My Commission Expires: February 15, 2005
MASSACHUSETTS--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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NOTE
June 13, 2003
Malden,
[City]
Massachusetts
[State]
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
[Property Address]
1. BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U.S. $450,000.00 (this amount is called "Principal"), plus interest, to
the order of the Lender. The Lender is Sample Originator Mortgage, Inc.. I will make payments under this Note in the form of
cash, check, or money order.
I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled
to receive payments under this Note is called the "Note Holder".
2. INTEREST
Interest will be charged on unpaid Principal until the full amount of Principal has been paid. I will pay interest at a yearly rate
of 5.5000%.
The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B) of
this Note.
3. PAYMENTS
(A) Time and Place of Payments
I will pay principal and interest by making a payment every month.
I will make my monthly payment on the First day of each month beginning on August 1, 2003. I will make these payments
every month until I have paid all of the principal and interest and any other charges described below that I may owe under this
Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on
July 1, 2033 I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date."
I will make my monthly payments at 500 Investor Boulevard, Suite 213, Framingham, Massachusetts 01701 or at a
different place if required by the Note Holder.
(B) Amount of Monthly Payments
My monthly payment will be in the amount of U.S. $2,555.06.
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a
"Prepayment." When I make a Prepayment, I will tell the Note Holder in writing that I am doing so. I may not designate a
payment as a Prepayment if I have not made all the monthly payments due under the Note.
I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my
Prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my Prepayment
to the accrued and unpaid interest on the Prepayment amount, before applying my Prepayment to reduce the Principal amount of
the Note. If I make a partial Prepayment, there will be no changes in the due date or in the amount of my monthly payment unless
the Note Holder agrees in writing to those changes.
5. LOAN CHARGES
If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan
charges collected or to be collected in connection with this loan exceed the permitted limits, then: (i) any such loan charge shall be
reduced by the amount necessary to reduce the charge to the permitted limit; and (ii) any sums already collected from me which
exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I
owe under this Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a partial
Prepayment.
MULTISTATE FIXED RATE NOTE--Single Family--FNMA/FHLMC UNIFORM INSTRUMENT
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6. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) Late Charges for Overdue Payments
If the Note Holder has not received the full amount of any monthly payment by the end of 15 calendar days after the date it is
due, I will pay a late charge to the Note Holder. The amount of the charge will be 3.000% of my overdue payment of principal
and interest. I will pay this late charge promptly but only once on each late payment.
(B) Default
If I do not pay the full amount of each monthly payment on the date it is due, I will be in default.
(C) Notice of Default
If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain
date, the Note Holder may require me to pay immediately the full amount of Principal which has not been paid and all the interest
that I owe on that amount. That date must be at least 30 days after the date on which the notice is mailed to me or delivered by
other means.
(D) No Waiver By Note Holder
Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the
Note Holder will still have the right to do so if I am in default at a later time.
(E) Payment of Note Holder's Costs and Expenses
If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid
back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses
include, for example, reasonable attorneys' fees.
7. GIVING OF NOTICES
Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by
delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note
Holder a notice of my different address.
Any notice that must be given to Note Holder under this Note will be given by delivering it or by mailing it by first class mail to
the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different address.
8. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this
Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also
obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or
endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights
under this Note against each person individually or against all of us together. This means that any one of us may be required to pay
all of the amounts owed under this Note.
9. WAIVERS
I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor.
"Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the
right to require the Note Holder to give notice to other persons that amounts due have not been paid.
10. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note
Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"), dated the same date as this Note,
protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this Note. That
Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts
I owe under this Note. Some of those conditions are described as follows:
If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a
natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender
may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be
exercised by Lender if such exercise is prohibited by Applicable Law.
MULTISTATE FIXED RATE NOTE--Single Family--FNMA/FHLMC UNIFORM INSTRUMENT
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If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a
period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower
must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this
period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on
Borrower.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
Witness
Michael L. Borrower
Nancy Borrower
Pay to the order of:
Sample Investor Mortgage, Inc.
Without Recourse
Sample Originator Mortgage, Inc.
By:
June 13, 2003
MULTISTATE FIXED RATE NOTE--Single Family--FNMA/FHLMC UNIFORM INSTRUMENT
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FNNote
ADDENDUM TO HUD-1
Loan Number:
6340-2393-2125
Borrower(s):
Michael L. Borrower and Nancy Borrower
Seller(s):
Samuel Seller and Nancy Seller
Lender:
Sample Originator Mortgage, Inc.
Property:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
Date:
June 13, 2003
To the Settlement Agent:
I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate
statement of all receipts and disbursements made on my account or by me in this transaction. I further certify that I have received
a copy of the HUD-1 Settlement Statement.
SELLER(S)
Samuel Seller
Nancy Seller
BORROWER(S)
Michael L. Borrower
Nancy Borrower
From the Settlement Agent:
The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will
cause the funds to be disbursed in accordance with this statement.
Date: June 13, 2003
Standard Law Office
Settlement Agent
WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties
upon conviction can include a fine and imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010.
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Sample, Example and Demonstration
Attorneys at Law
Sample Address
Sampleville, Mass 01292
Ample A. Sample
J. Fenimore Example *
Daemon Z. Demonstration **
* Also admitted in North Dakota
** Also admitted in Kansas
J. Fenimore Example, Jr.
Mary C. Partnerhoper
Mercedes M. Ferrari
Leroy C. Daddytrack
Geoffery Quatar Al-Habar
*** Powered by Office XP
LOAN CLOSING IDENTIFICATION STATEMENT
MORTGAGEE:
Sample Originator Mortgage, Inc.
BUYERS/MORTGAGORS:
Michael L. Borrower and Nancy Borrower
SELLERS:
Samuel Seller and Nancy Seller
LOCUS:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
CLOSING DATE:
June 13, 2003
I, Standard Law Office, closing attorney for the above-captioned transaction, hereby state as follows:
BUYERS:
SELLERS:
___________
__________
I have personal knowledge of said parties through previous business dealings.
___________
__________
I am confident that said parties are whom they claim to be through current transaction dealings.
___________
__________
Attached are copies of acceptable forms of identification.
___________
__________
I have requested and reviewed identification at closing and I am confident that said parties are
who they claim to be.
Joe Attorney
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 CORRECTED (if checked)
FILER'S name, street address, city, state, ZIP code, and telephone no.
OMB No. 1545-0997
1 Date of closing
06/13/2003
2003
Proceeds From Real
Estate Transaction
Form 1099-S
2 Gross proceeds
$500,000.00
FILER'S Federal identification number
TRANSFEROR'S identification number
04-?
999-99-9999
3 Address or legal description
Copy B
For Transferor
88 Wasmyhome Way
Medford, MA 02155
TRANSFEROR'S name
Samuel Seller and Nancy Seller
Street address (including apt. no.)
100 New Place
City, state, and ZIP code
Wayland, MA 01778
4 Transferor received or will receive property or services as part of the
Account number (optional)
5 Buyer's part of real estate tax
consideration. (if checked)……………………………………
00-000
Form 1099S-S


This is important tax
information and is being
furnished to the Internal
Revenue Service. If you
are required to file a
return, a negligence
penalty or other
sanction may be
imposed on you if this
item is required to be
reported and the IRS
determines that it has
not been reported.
$118.44
(keep for your records)
Department of the Treasury – Internal Revenue Service
Instructions for Transferor
For sales or exchanges of certain real estate, the person responsible for
closing a real estate transaction must report the real estate proceeds to the
Internal Revenue Service and must furnish this statement to you. To
determine if you have to report the sale or exchange of your main home on
your tax return, see the Schedule D (Form 1040) instructions. If the real
estate was not your main home, report the transaction on Form 4797, Sales
of Business Property, Form 6252, Installment Sale Income, and /or
Schedule D (Form 1040), Capital Gains and Losses.
Box 1. Shows the date of closing.
Federal mortgage subsidy. You may have to recapture (pay back) all or
part of a Federal mortgage subsidy if all the following apply:
Box 4. If marked, shows that you received or will receive services or
property (other than cash or notes) as part of the consideration for the
property transferred. The value of any services or property (other than cash
or notes) is not included in box 2.

You received a loan provided from the proceeds of a qualified
mortgage bond or you received a mortgage credit certificate,

Your original mortgage loan was provided after 1990, and

You sold or disposed of your home at a gain during the first 9 years
after you received the Federal mortgage subsidy.
This will increase your tax. See Form 8828, Recapture of Federal
Mortgage Subsidy, and Pub. 523, Selling Your Home.
Error! AutoText entry not defined.
Box 2. Shows the gross proceeds from a real estate transaction, generally
the sales price. Gross proceeds include cash and notes payable to you, notes
assumed by the transferee (buyer), and any notes paid off at settlement.
Box 2 does not include the value of other property or services you received
or are to receive. See Box 4.
Box 3. Shows the address or a legal description of the property transferred.
Box 5. Shows certain real estate tax on a residence charged to the buyer at
settlement. If you have already paid the real estate tax for the period that
includes the sale date, subtract the amount in box 5 from the amount already
paid to determine your deductible real estate tax. But if you have already
deducted the real estate tax in a prior year, generally report this amount as
income on the "Other income" line of Form 1040. For more information,
see Pub. 523, Pub. 525 and Pub. 530.
IRS1099M
-
 VOID
FILER'S name, street, address, city, state, ZIP code and telephone no.
 CORRECTED
1 Date of closing
06/13/2003
2 Gross proceeds
$500,000.00
FILER'S Federal identification number
TRANSFEROR'S identification number
04-?
999-99-9999
TRANSFEROR'S name
Samuel Seller and Nancy Seller
OMB No. 1545-0997
2003
Proceeds From Real
Estate Transaction
Form 1099-S
3 Address or legal description including city, state, and ZIP code
Copy C
For Filer
88 Wasmyhome Way
Medford, MA 02155
Street address (including apt. no.)
100 New Place
City, state, and ZIP code
4 Check here if the transferor received or will receive property or services as
Wayland, MA 01778
part of the consideration.
Account number (optional)
5 Buyer's part of real estate tax
00-000


For Privacy Act
And Paperwork
Reduction Act
Notice, see the
2003 General
Instructions for
Forms 1099,
1098,5498,
and W-2G.
$118.44
Department of the Treasury – Internal Revenue Service
Form 1099S-S
Instructions for Filers
General and specific form instructions are provided as separate
products. The products you should use for 2003 are the
General Instructions for Forms 1099, 1098, 5498, and W2G and the separate specific instructions for each information
return you file. Specific information needed to complete this
form is given in the 2003 Instructions for Form 1099-S. A
chart in the general instructions gives a quick guide to which
form must be filed to report a particular payment. To order
these instructions and additional forms call 1-800-TAX-FORM
(1-800-829-3676).
Caution: Because the IRS processes paper forms by
machine (optical character recognition equipment), you
cannot file with the IRS Forms 1096, 1098, 1099, or 5498
that you print from the IRS Web Site.
Due dates. Furnish Copy B of this form to the transferor
by February 2, 2004.
File Copy A of this form with the IRS by March 1,
2004. If you file electronically, the due date is March 31,
2004.
I hereby acknowledge receipt of a copy of the aforesaid Form 1099-S which has been given to me on June 13, 2003.
Samuel Seller
Error! AutoText entry not defined.
Nancy Seller
IRS1099M
-
CERTIFICATION FOR NO INFORMATION REPORTING
ON THE SALE OR EXCHANGE OF A PRINCIPAL RESIDENCE
This form may be completed by the seller of a principal residence. This information is necessary to determine whether
the sale or exchange should be reported to the seller, and to the Internal Revenue Service on form 1099-S, Proceeds From Real
Estate Transactions. If the seller properly completes Parts I and III, and makes a 'yes' response to the assurances (1) through (4) in
Part II, no information reporting to the seller or to the Service will be required for that seller. The term 'seller' includes each owner
of the residence that is sold or exchanged. Thus, if a residence has more than one owner, a real estate reporting person must either
obtain a certification from each owner (whether married or not) or file an information return and furnish a payee statement for any
owner that does not make the certification.
Part I.
Seller Information
1.
Name: Samuel Seller
2.
Address or legal description (including city, state, and ZIP code) of residence being sold or exchanged:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
3.
Taxpayer Identification Number (TIN):
Part II.
999-99-9999
Seller Assurances
Check ‘yes’ or ‘no’ for assurances (1) through (4).
Yes
No


(1) I owned and used the residence as my principal residence for periods aggregating 2 years or more
during the 5-year period ending on the date of the sale or exchange of the residence.


(2) I have not sold or exchanged another principal residence during the 2-year period ending on the date of
the sale or exchange of the residence (not taking into account any sale or exchange before May 7, 1997).


(3) No portion of the residence has been used for business or rental purposes by me (or my spouse if I am
married) after May 6, 1997.


(4) At least one of the following three statements applies:
The sale or exchange is of the entire residence for $250,000 or less.
OR
I am married, the sale or exchange is of the entire residence for $500,000 or less, and the gain on the sale
or exchange of the entire residence is $250,000 or less.
OR
I am married, the sale or exchange is of the entire residence for $500,000 or less, and (a) I intend to file a
joint return for the year of the sale or exchange, (b) my spouse also used the residence as his or her principal
residence for periods aggregating 2 years or more during the 5-year period ending on the date of the sale or
exchange of the residence, and (c) my spouse also has not sold or exchanged another principal residence
during the 2-year period ending ont he date of the sale or exchange of the residence (not taking into account
any sale or exchange before May 7, 1997).
Part III.
Seller Certification
Under penalties of perjury, I certify that all the above information is true as of the end of the day of the sale or exchange.
Samuel Seller
Error! AutoText entry not defined.
06/13/2003
Date
-
CERTIFICATION FOR NO INFORMATION REPORTING
ON THE SALE OR EXCHANGE OF A PRINCIPAL RESIDENCE
This form may be completed by the seller of a principal residence. This information is necessary to determine whether
the sale or exchange should be reported to the seller, and to the Internal Revenue Service on form 1099-S, Proceeds From Real
Estate Transactions. If the seller properly completes Parts I and III, and makes a ‘yes’ response to the assurances (1) through (4)
in Part II, no information reporting to the seller or to the Service will be required for that seller. The term ‘seller’ includes each
owner of the residence that is sold or exchanged. Thus, if a residence has more than one owner, a real estate reporting person must
either obtain a certification from each owner (whether married or not) or file an information return and furnish a payee statement
for any owner that does not make the certification.
Part I.
Seller Information
1.
Name: Nancy Seller
2.
Address or legal description (including city, state, and ZIP code) of residence being sold or exchanged:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
3.
Taxpayer Identification Number (TIN):
Part II.
987-58-9654
Seller Assurances
Check ‘yes’ or ‘no’ for assurances (1) through (4).
Yes
No


(1) I owned and used the residence as my principal residence for periods aggregating 2 years or more
during the 5-year period ending on the date of the sale or exchange of the residence.


(2) I have not sold or exchanged another principal residence during the 2-year period ending on the date of
the sale or exchange of the residence (not taking into account any sale or exchange before May 7, 1997).


(3) No portion of the residence has been used for business or rental purposes by me (or my spouse if I am
married) after May 6, 1997.


(4) At least one of the following three statements applies:
The sale or exchange is of the entire residence for $250,000 or less.
OR
I am married, the sale or exchange is of the entire residence for $500,000 or less, and the gain on the sale
or exchange of the entire residence is $250,000 or less.
OR
I am married, the sale or exchange is of the entire residence for $500,000 or less, and (a) I intend to file a
joint return for the year of the sale or exchange, (b) my spouse also used the residence as his or her principal
residence for periods aggregating 2 years or more during the 5-year period ending on the date of the sale or
exchange of the residence, and (c) my spouse also has not sold or exchanged another principal residence
during the 2-year period ending ont he date of the sale or exchange of the residence (not taking into account
any sale or exchange before May 7, 1997).
Part III.
Seller Certification
Under penalties of perjury, I certify that all the above information is true as of the end of the day of the sale or exchange.
Nancy Seller
Error! AutoText entry not defined.
06/13/2003
Date
-
4506
Form
Request for Copy or Transcript of Tax Form
OMB No. 1545-0429
 Read instructions before completing this form.
 Type or print clearly. Request may be rejected if form is incomplete or illegible.
(Rev. May 1997)
Department of the Treasury
Internal Revenue Service
Note: Do not use this form to get tax account information. Instead, see instructions below.
1a Name shown on tax form. If a joint return, enter the name shown first.
1b First social security number on tax form or employer identification
number. (See instructions.)
Michael L. Borrower
123-45-6789
2a If a joint return, spouse's name shown on tax form
2b Second social security number on tax form
Nancy Borrower
987-65-4321
3 Current name, address (including apt., room, or suite no.), city, state, and ZIP code.
11 Oldhome Way , Malden, MA 02148
4 Address, (including apt., room, or suite no.), city, state, and ZIP code shown on the last return filed if different from line 3
5
If copy of form or a tax return transcript is to be mailed to someone else, enter the third party's name and address.
6
If we cannot find a record of your tax form and you want the payment refunded to the third party, check here
7
If name in third party's records differs from line 1a above, enter the name here (see instructions.) 
..................................

8 Check only one box to show what you want. There is no charge for items 8a, b, and c:
a

Tax return transcript of Form 1040 series filed during the current calendar year and the 3 prior calendar years (see
instructions).
Verification of nonfiling.
Form(s) W-2 information (see instructions).
d Copy of tax form and all attachments (including Form(s) W-2, schedules, or other forms). The charge is $23 for each period requested.
Note: If these copies must be certified for court or administrative proceedings, see instructions and check here
 ......................................
b
c

9 If this request is to meet a requirement of one of the following, check all boxes that apply.

Small Business Administration
Department of Education
10 Tax form number (Form 1040, 1040A, 941, etc.)
11 Tax period(s) (year or period ended date) If more than four, see
instructions.


Department of Veterans Affairs
Financial Institution
12 Complete only if line 8d is checked
Amount due:
a Cost for each period
$
b Number of tax periods requested on line 11
c Total cost. Multiply line 12a by line 12b.
Full payment must accompany your request.
$
Make check or money order payable to "Internal
Revenue Service."
23.00
Caution: Before signing, make sure all items are complete and the form is dated.
I declare that I am either the taxpayer whose name is shown on line 1a or 2a, or a person authorized to obtain the tax
information requested. I am aware that based upon this form, the IRS will release the tax information requested to any
party shown on line 5. The IRS has no control over what that party does with the information.
Please  _______________________________________________________________________________
Signature. See instructions. If other than taxpayer, attach authorization document.
Date
Sign
 _______________________________________________________________________________
Title (if line 1a above is a corporation, partnership, estate, or trust)
Date
Here
 _______________________________________________________________________________
Spouse's signature
Date
Error! AutoText entry not defined. Form 4506 (Rev. 12-98)
Telephone number of requester
(
)
Best time to call
TRY A TAX RETURN
TRANSCRIPT
(see line 8a instructions)
IRS4506M
Form
W-9
(Rev. January 2003)
Department of the
Treasury Internal
Revenue Service
Request for Taxpayer
Give form to the
requester. Do not
send to IRS.
Identification Number and Certification
Print or type
See Specific Instructions on page 2.
Name Michael L. Borrower
Business name, if different from above
Individual/
Please check appropriate box:  Sole Proprietor
Address (number, street, and apt. or suite no.)
22 Main Street
 Corporation
 Exempt from backup
 Partnership  Other ……..…
withholding
Requester's name and address (optional)
City, state, and ZIP code
Malden, MA 02148
List account number(s) here (optional)
Part I
Taxpayer Identification Number (TIN)
Enter your TIN in the appropriate box. For individuals, this is your social security number
(SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part I
instructions on page 3. For other entities, it is your employer identification number (EIN). If
you do not have a number, see How to get a TIN, on page 3.
Social Security Number
123-45-6789
or
Employer Identification Number
Note: If the account is in more than one name, see the chart on page 4 for guidelines on whose
number to enter.
Part II
Certification
Under penalties of perjury, I certify that:
1.
2.
3.
The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and
I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service
(IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer
subject to backup withholding, and
I am a U.S. person (including a U.S. resident alien).
Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because
you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition
or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than
interest and dividends, you are not required to sign the Certification, but you must provide your correct TIN. (See the instructions on page 4.)
Sign
Here
Signature of
U.S. person 
Date
Purpose of Form
06/13/2003
Nonresident alien who becomes a resident alien.
Generally, only a nonresident alien individual may use the terms of a tax
treaty to reduce or eliminate U.S. tax on certain types of income. However,
most tax treaties contain a provision known as a “saving clause.” Exceptions
specified in the saving clause may permit an exemption from tax to continue
for certain types of income even after the recipient has otherwise become a
U.S. resident alien for tax purposes.
If you are a U.S. resident alien who is relying on an exception contained in
the saving clause of a tax treaty to claim an exemption from U.S. tax on
certain types of income, you must attach a statement that specifies the
following five items:
1. The treaty country. Generally, this must be the same treaty under which
you claim exemption from tax as a nonresident alien.
2. The treaty article addressing the income.
3. The article number (or location) in the tax treaty that contains the saving
clause and its exceptions.
4. The type and amount of income that qualifies for the exemption from tax.
5. Sufficient facts to justify the exemption from tax under the terms of the
treaty article.
A person who is required to file an information return with the IRS, must
obtain your correct taxpayer identification number (TIN) to report, for
example, income paid to you, real estate transactions, mortgage interest
you paid, acquisition or abandonment of secured property, cancellation of
debt, or contributions you made to an IRA.
U.S. person. Use Form W-9 only if you are a U.S. person (including a
resident alien), to provide your correct TIN to the person requesting it (the
requester) and, when applicable, to:
1. Certify that the TIN you are giving is correct (or you are waiting for a
number to be issued),
2. Certify you are not subject to backup withholding, or
3. Claim exemption from backup withholding if you are a U.S. exempt
payee.
Note: If a requester gives you a form other than Form W-9 to request
your TIN, you should use the requester’s form. However, this form must
meet the acceptable specifications described in Pub. 1167, General Rules
and Specifications for Substitute Tax Forms and Schedules.
Foreign person. If you are a foreign person, use the appropriate Form W8. (See Pub. 515, Withholding of Tax on Nonresident Aliens and Foreign
Entities).
Form W-9 (Rev. 1-2003)
-
-
W-9
Form
(Rev. January 2003)
Print or type
See Specific Instructions on page 2.
Department of the
Treasury Internal
Revenue Service
Name Nancy Borrower
Request for Taxpayer
Identification Number and Certification
Give form to the
requester. Do not
send to IRS.
Business name, if different from above.
Please check appropriate box:
Individual/
 Sole Proprietor
 Corporation
 Partnership  Other ……..…
Address (number, street, and apt. or suite no.)
22 Main Street
 Exempt from backup
withholding
Requester's name and address (optional)
City, state, and ZIP code
Malden, MA 02148
List account number(s) here (optional)
Part I
Taxpayer Identification Number (TIN)
Enter your TIN in the appropriate box. For individuals, this is your social security number
(SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part I
instructions on page 3. For other entities, it is your employer identification number (EIN). If
you do not have a number, see How to get a TIN, on page 3.
Social Security Number
987-65-4321
OR
Employer Identification Number
Note: If the account is in more than one name, see the chart on page 4 for guidelines on
whose number to enter.
Part II
Certification
Under penalties of perjury, I certify that:
1.
2.
3.
The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and
I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue
Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am
no longer subject to backup withholding, and
I am a U.S. person (including a U.S. resident alien).
Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding
because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid,
acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments
other than interest and dividends, you are not required to sign the Certification, but you must provide your correct TIN. (See the instructions on page 4.)
Sign
Here
Signature of
U.S. person 
Date 06/13/2003
Nonresident alien who becomes a resident alien.
Generally, only a nonresident alien individual may use the terms of a tax
treaty to reduce or eliminate U.S. tax on certain types of income. However,
most tax treaties contain a provision known as a “saving clause.”
Exceptions specified in the saving clause may permit an exemption from
tax to continue for certain types of income even after the recipient has
otherwise become a U.S. resident alien for tax purposes.
If you are a U.S. resident alien who is relying on an exception contained
in the saving clause of a tax treaty to claim an exemption from U.S. tax on
certain types of income, yu must attach a statement that specifies the
following five items:
1. The treaty country. Generally, this must be the same treaty under which
you claim exemption from tax as a nonresident alien.
2. The treaty article addressing the income.
3. The article number (or location) in the tax treaty that contains the
saving clause and its exceptions.
6. The type and amount of income that qualifies for the exemption from
tax.
7. Sufficient facts to justify the exemption from tax under the terms of the
treaty article.
Purpose of Form
A person who is required to file an information return with the IRS, must
obtain your correct taxpayer identification number (TIN) to report, for
example, income paid to you, real estate transactions, mortgage interest
you paid, acquisition or abandonment of secured property, cancellation
of debt, or contributions you made to an IRA.
U.S. person. Use Form W-9 only if you are a U.S. person (including a
resident alien), to provide your correct TIN to the person requesting it
(the requester) and, when applicable, to:
1. Certify that the TIN you are giving is correct (or you are waiting for
a number to be issued),
2. Certify you are not subject to backup withholding, or
3. Claim exemption from backup withholding if you are a U.S. exempt
payee.
Note: If a requester gives you a form other than Form W-9 to request
your TIN, you should use the requester’s form. However, this form must
meet the acceptable specifications described in Pub. 1167, General Rules
and Specifications for Substitute Tax Forms and Schedules.
Foreign person. If you are a foreign person, use the appropriate Form
W-8. (See Pub. 515, Withholding of Tax on Nonresident Aliens and
Foreign Entities).
Form W-9 (Rev. 1-003)
-
Form W-9 (Rev. 1-2003)
Example. Article 20 of the U.S.-China income tax treaty allows
an exemption from tax for scholarship income received by a
Chinese student temporarily present in the United States. Under
U.S. law, this student will become a resident alien for tax
purposes if his or her stay in the Untied States exceeds 5 calendar
years. However, paragraph 2 of the first Protocol to the U.S.China treaty (dated April 30, 1984) allows the provisions of
Article 20 to continue to apply even after the Chinese student
becomes a resident alien of the United States. A Chinese student
who qualifies for this exception (under paragraph 2 of the first
protocol) and is relying on this exception to claim an exemption
from tax on his or her scholarship or fellowship income would
attach to Form W-9 a statement that includes the information
described above to support that exemption.
If you are a nonresident alien or a foreign entity not subject
to backup withholding, give the requester the appropriate
completed Form W-8.
What is backup withholding? Persons making certain payments
to you must under certain conditions withhold and pay to the IRS
30% of such payments (29% after December 31, 2003; 28%
after December 31,2005). This is called “backup withholding.”
Payments that may be subject to backup withholding include
interest, dividends, broker and barter exchange transactions,
rents, royalties, nonemployee pay, and certain payments from
fishing boat operators. Real estate transactions are not subject to
backup withholding.
You will not be subject to backup withholding on payments
you receive if you give the requester your correct TIN, make the
proper certifications, and report all your taxable interest and
dividends on your tax return.
Page 2
Specific Instructions
Name
If you are an individual, you must generally enter the name
shown on your social security card. However, if you have
changed your last name, for instance, due to marriage without
informing the Social Security Administration of the name
change, enter your first name, the last name shown on your social
security card, and your new last name.
If the account is in joint names, list first, and then circle, the
name of the person or entity whose number you entered in Part I
of the form.
Sole Proprietor. Enter your individual name as shown on your
social security card on the “Name” line. You may enter your
business, trade, or “doing business as (DBA)” name on the
“Business Name” line.
Limited liability company (LLC). If you are a single-member
LLC (including a foreign LLC with a domestic owner) that is
disregarded as an entity separate from its owner under Treasury
regulations section 301.7701-3, enter the owner’s name on the
“Name” line. Enter the LLC’s name on the “Business name”
line.
Other entities. Enter your business name as shown on required
Federal tax documents on the “Name” line. This name should
match the name shown on the charter or other legal document
creating the entity. You may enter any business, trade, or DBA
name on the “Business name” line.
Note: You are requested to check the appropriate box for your
status (individual/sole proprietor, corporation, etc.).
Exempt from Backup Withholding
Payments you receive will be subject to
backup withholding if:
If you are exempt, enter your name as described above and
check the appropriate box for your status, then check the
“Exempt from backup withholding” box in the line following the
business name, sign and date the form.
Generally, Individuals (including sole proprietors) are not
exempt from backup withholding. Corporations are exempt from
backup withholding for certain payments, such as interest and
dividends
Note: If you are exempt from backup withholding, you should
still complete this form to avoid possible erroneous backup
withholding.
Exempt payees. Backup withholding is not required on any
payments made to the following payees:
1. An organization exempt from tax under section 501(a), any
IRA, or a custodial account under section 403(b)(7) if the
account satisfies the requirements of section 401(f)(2);
2. The United States or any of its agencies or
instrumentalities;
3. A state, the District of Columbia, a possession of the
United States, or any of their political subdivision or
instrumentalities;
4. A foreign government or any of its political subdivisions,
agencies, or instrumentalities; or
5. An international organization or any of its agencies or
instrumentalities;
Other payees that may be exempt from backup withholding
include:
6. A corporation;
7. A foreign central bank of issue;
8. A dealer in securities or commodities required to register
in the United States, the District of Columbia, or a possession of
the United States;
1. You do not furnish your TIN to the requester, or
2. You do not certify your TIN when required (see the Part II
instructions on page 4 for details), or
3. The IRS tells the requester that you furnished an incorrect
TIN, or
4. The IRS tells you that you are subject to backup withholding
because you did not report all your interest and dividends on your
tax return (for reportable interest and dividends only), or
5. You do not certify to the requester that you are not subject to
backup withholding under 4 above (for reportable interest and
dividend accounts opened after 1983 only).
Certain payees and payments are exempt from backup
withholding. See the instructions below and the separate
Instructions for the Requester of Form W-9.
Penalties
Failure to furnish TIN. If you fail to furnish your correct TIN
to a requester, you are subject to a penalty of $50 for each such
failure unless your failure is due to reasonable cause and not to
willful neglect.
Civil penalty for false information with respect to
withholding. If you make a false statement with no reasonable
basis that results in no backup withholding, you are subject to a
$500 penalty.
Criminal penalty for falsifying information. Willfully
falsifying certifications or affirmations may subject you to
criminal penalties including fines and/or imprisonment.
Misuse of TINs. If the requester discloses or uses TINs in
violation of Federal law, the requester may be subject to civil and
criminal penalties.
1986-2003 Standard Solutions, Inc.
-
Page 3
Form W-9 (Rev. 12-2002)
Part I. Taxpayer Identification
Number (TIN)
9. A futures commission merchant registered with the
Commodity Futures Trading Commission;
10. A real estate investment trust;
11. An entity registered at all times during the tax year under the
Investment Company Act of 1940;
12. A common trust fund operated by a bank under section
584(a);
13. A financial institution;
14. A middleman known in the investment community as a
nominee or custodian; or
15. A trust exempt from tax under section 664 or described in
section 4947.
The chart below shows types of payments that may be exempt
from backup withholding. The chart applies to the exempt
recipients listed above, 1 through 15.
If the payment is for …
Interest and dividend
payments
Broker transactions
Barter exchange
transactions and
patronage dividends
Payments over $600
required to be reported
and direct sales over
$5,0001
Enter your TIN in the appropriate box. If you are a resident
alien and you do not have and are not eligible to get an SSN,
your TIN is your IRS individual taxpayer identification number
(ITIN). Enter it in the social security number box. If you do not
have an ITIN, see How to get a TIN below.
If you are a sole proprietor and you have an EIN, you may
enter either your SSN or EIN. However, the IRS prefers that you
use your SSN.
If you are a single-owner LLC that is disregarded as an entity
separate from its owner (see Limited liability company (LLC)
on page 2), enter your SSN (or EIN, if you have one). If the LLC
is a corporation, partnership, etc., enter the entity’s EIN.
Note: See the chart on page 4 for further clarification of name
and TIN combinations.
THEN the payment is
exempt for …
How to Get a TIN. If you do not have a TIN, apply for one
immediately. To apply for an SSN, get Form SS-5, Application
for a Social Security Card, from your local Social Security
Administration office or get this form on-line at
www.ssa.gov/online/ss5.html. You may also get this form by
calling 1-800-772-1213. Use Form W-7, Application for IRS
Individual Taxpayer Identification Number, to apply for an ITIN,
or Form SS-4, Application for Employer Identification Number,
to apply for an EIN. You can get Forms W-7 and SS-4 from the
IRS by calling 1-800-TAX-FORM (1-800-829-3676) or from the
IRS Web Site at www.irs.gov.
If you are asked to complete Form W-9 but do not have a TIN,
write “Applied For” in the space for the TIN, sign and date the
form, and give it to the requester. For interest and dividend
payments, and certain payments made with respect to readily
tradable instruments, generally you will have 60 days to get a
TIN and give it to the requester before you are subject to backup
withholding on payments. The 60-day rule does not apply to
other types of payments. You will be subject to backup
withholding on all such payments until you provide your TIN to
the requester.
Note: Writing "Applied For" means that you have already
applied for a TIN or that you intend to apply for one soon.
Caution: A disregarded domestic entity that has a foreign owner
must use the appropriate Form W-8.
All exempt recipients
except for 9
Exempt recipients 1
through 13. Also, a person
registered under the
Investment Advisers Act
of 1940 who regularly
acts as a broker
Exempt recipients 1
through 5
Generally, exempt
recipients 1 though 72
1
See Form 1099-MISC, Miscellaneous Income, and its
instructions.
2
However, the following payments made to a corporation
(including gross proceeds paid to an attorney under section
6045(f), even if the attorney is a corporation) and reportable on
Form 1099-MISC are not exempt from backup withholding:
medical and health care payments, attorneys’ fees; and payments
for services paid by a Federal executive agency.
1986-2003 Standard Solutions, Inc.
-
Form W-9 (Rev. 1-2003)
Part II. Certification
To establish to the withholding agent that you are a U.S. person,
or resident alien, sign Form W-9. You may be requested to sign
by the withholding agent even if items 1, 3, and 5 below indicate
otherwise.
For a joint account, only the person whose TIN is shown in
Part I should sign (when required). Exempt recipients, see
Exempt from backup withholding on page 2.
Signature requirements. Complete the certification as indicated
in 1 through 5 below.
1. Interest, dividend, and barter exchange accounts opened
before 1984 and broker accounts considered active during
1983. You must give your correct TIN, but you do not have to
sign the certification.
2. Interest, dividend, broker, and barter exchange accounts
opened after 1983 and broker accounts considered inactive
during 1983. You must sign the certification or backup
withholding will apply. If you are subject to backup withholding
and you are merely providing your correct TIN to the requester,
you must cross out item 2 in the certification before signing the
form.
3. Real estate transactions. You must sign the certification.
You may cross out item 2 of the certification.
4. Other payments. You must give your correct TIN, but you
do not have to sign the certification unless you have been
notified that you have previously given an incorrect TIN. “Other
payments” include payments made in the course of the
requester's trade or business for rents, royalties, goods (other than
bills for merchandise), medical and health care services
(including payments to corporations), payments to a
nonemployee for services, payments to a nonemployee for
services, payments to certain fishing boat crew members and
fishermen, and gross proceeds paid to attorneys (including
payments to corporations).
5. Mortgage interest paid by you, acquisition or
abandonment of secured property, cancellation of debt,
qualified tuition program payments (under section 529), IRA
or Archer MSA contributions or distributions, and pension
distributions. You must give your correct TIN, but you do not
have to sign the certification.
Page 4
What Name and Number To Give the
Requester
For this type of account:
Give name and SSN of:
1. Individual
2. Two or more individuals (joint
account)
The individual
The actual owner of the
account, or if combined
funds, the first individual
on the account1
The minor2
3. Custodian account of a minor
(Uniform Gift to Minors Act)
4. a.The usual revocable savings
trust (grantor is also trustee)
b. So-called trust account that is
not a legal or valid trust under
state law
5. Sole proprietorship or singleowner LLC
The grantor-trustee1
The actual owner1
The owner3
For this type of account:
Give name and EIN of:
6. Sole proprietorship or singleowner LLC
7. A valid trust, estate, or pension
trust
8. Corporate or LLC electing
corporate status on Form 8837
9. Association, club, religious,
charitable, educational, or
other tax-exempt organization
10. Partnership or multi-member
LLC
11. A broker or registered nominee
12. Account with the Department
of Agriculture in the name of a
public entity (such as a state or
local government, school
district, or prison) that receives
agricultural program
payments.
The owner3
Legal entity4
The corporation
The organization
The partnership
The broker or nominee
The public entity
1List
first and circle the name of the person whose number you
furnish. If only one person on a joint account has a SSN, that
person’s number must be furnished.
2Circle the minor's name and furnish the minor's SSN.
3
You must show your individual name, but you may also enter
your business or "DBA" name. You may use either your SSN or
EIN (if you have one).
4List first and circle the name of the legal trust, estate, or pension
trust. (Do not furnish the TIN of the personal representative or
trustee unless the legal entity itself is not designated in the
account title.)
Note: If no name is circled when more than one name is listed,
the number will be considered to be that of the first name listed.
Privacy Act Notice
Section 6109 of the Internal Revenue Code requires you to provide your correct TIN to persons who must file information returns with
the IRS to report interest, dividends, and certain other income paid to you, mortgage interest you paid, the acquisition or abandonment
of secured property, cancellation of debt, or contributions you made to an IRA or Archer MSA. The IRS uses the numbers for
identification purposes and to help verify the accuracy of your tax return. The IRS may also provide this information to the
Department of Justice for civil and criminal litigation, and to cities, states, and the District of Columbia to carry out their tax laws. We
may also disclose this information to other counties under a tax treaty, or to Federal and state agencies to enforce Federal nontax
criminal laws and to combat terrorism.
You must provide your TIN whether or not you are required to file a tax return. Payers must generally withhold 30% of taxable
interest, dividend, and certain other payments to a payee who does not give a TIN to a payer. Certain penalties may also apply.
-1986-2003 Standard Solutions, Inc.
-
-
LEAD PAINT INDEMNIFICATION
TO:
Sample Originator Mortgage, Inc.
DATE:
June 13, 2003
The undersigned hereby acknowledge that they have been apprised of the existence of Massachusetts General Laws, Chapter
111, Sections 190-199 and Rules and Regulations of the Department of Public Health Lead Poison Program which impose
legal duties and liabilities on certain owners of residential real property, for a mortgage loan at Unit 34 of Riverview, 88
Wasmyhome Way, Medford, Massachusetts 02155.
In further consideration of Sample Originator Mortgage, Inc. granting the above referenced mortgage loan, the undersigned
agree to take whatever steps may be necessary to comply with the aforementioned statute and rules and regulations and further
agree that if the subject property should contain lead-based substances which results in the undersigned incurring any expense
on their part that they will indemnify and hold harmless Sample Originator Mortgage, Inc. its successors and assigns, and
make no claim against said Sample Originator Mortgage, Inc., and further that if the undersigned, any member of its family,
other occupant of the premises or guest is adversely affected by the presence of any lead-based substance that the undersigned
will indemnify and hold harmless said Sample Originator Mortgage, Inc. its successors and assigns from and against all
liability, loss, damage or injury and all reasonable costs and expenses, including reasonable attorney's fees arising from said
adverse effects.
Executed under seal this 13th day of June, 2003.
Witness
Michael L. Borrower
Nancy Borrower
-
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MECHANIC'S LIEN CERTIFICATE
TO:
Fidelity National Title Insurance Company
RE:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
Dear Sir or Madam:
I (We) understand that you intend to issue a policy of title insurance and insure title to the premises above noted in
connection with the following:

a mortgage to Sample Originator Mortgage, Inc. in the amount of $450,000.00.

a deed to Michael L. Borrower and Nancy Borrower in the amount of $500,000.00.
It is also understood that said policy(s) will not take exception to:
1.
Unrecorded matters which could be ascertained by an inspection of said premises or by making
inquiry of persons in possession thereof; and
2.
Mechanic's or materialmen's liens.
In consideration of your issuing said policy(s), without taking exception as noted above, we hereby state an oath that:
1.
There are no tenants, lessees or parties in possession of said premises other than
2.
We have no knowledge of any work having been done to the premises that would entitle anyone now
or hereafter to claim a mechanic's or materialmen's lien on the premises.
In further consideration of the foregoing, we jointly and severally do hereby indemnify you and agree to hold you
harmless by reason of any loss, costs or damages which you may sustain by reason of issuing said policy(s), without taking
exception as noted above, and in reliance on the foregoing.
EXECUTED as a sealed instrument to all parties on the 13th day of June, 2003 .
Samuel Seller
Nancy Seller
Subscribed and sworn to before me this 13th day of June, 2003.
Notary Public: Joe Attorney
My Commission Expires: 02/15/2005
Error! AutoText entry not defined.
-
Sample, Example and Demonstration
Attorneys at Law
Sample Address
Sampleville, Mass 01292
Ample A. Sample
J. Fenimore Example *
Daemon Z. Demonstration **
* Also admitted in North Dakota
** Also admitted in Kansas
J. Fenimore Example, Jr.
Mary C. Partnerhoper
Mercedes M. Ferrari
Leroy C. Daddytrack
Geoffery Quatar Al-Habar
*** Powered by Office XP
June 13, 2003
Country Wide Home Loans, Inc.
123 Out of Debt Road
Paid Off, MA 23146
RE:
Sellers:
Property:
Loan Number:
Samuel Seller and Nancy Seller
100 New Place, Wayland, Massachusetts 01778
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
564646464646 (First Mortgage)
Dear Sir or Madam:
Enclosed please find a check in the amount of $246,335.00 representing the mortgage payoff on the above-referenced loan.
The payoff is broken down as follows:
Principal
Interest
Release
Escrow
Per Diem
Fax Charge
$245,000.00
$1,945.00
$20.00
$-850.00
$160.00 (4 days) @ $40.00/day
$60.00
Total Due:
$246,335.00
Said First Mortgage recorded on 06/15/1999 with the Middlesex South Registry of Deeds at Book 09784, Page 355.
Subject to an assignment recorded at Book 09784, Page 356. Please forward mortgage discharge to the attention of the
Mortgage Discharge Department. We would greatly appreciate the inclusion of the correct book, page, instrument
numbers and property address. Thank you.
Very truly yours,
Pam Paralegal
Standard Law Office
File No:00-000 File ID:Sample
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Sample Originator Mortgage, Inc.
100 Main Street, Peabody, Massachusetts 01960
AGREEMENT TO REAPPORTION
PROPERTY:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
BORROWER(S): Michael L. Borrower and Nancy Borrower
SELLER(S):
Samuel Seller and Nancy Seller
LENDER:
Sample Originator Mortgage, Inc.
PROPERTY:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
DATE:
June 13, 2003
WHEREAS the amount of the real estate taxes on the above property for fiscal year 2003 is not known at this time; and
WHEREAS the said taxes have this day been apportioned according to the best judgment of the parties; NOW THEREFORE, the
parties hereto agree to reapportion the taxes when the 2003 tax bill is actually issued. If the bill is in excess of the amount as
apportioned this day, the Seller agrees to pay to the Buyer such portion of the same as the apportionment would shown to be due
by the Seller and the Buyer agrees that if the tax bill is less than the amount apportioned this day, the Buyer will refund to the
Seller that portion of the taxes apportioned to the Seller in excess of the correct amount.
SELLER(S)
Samuel Seller
Nancy Seller
BORROWER(S)
Michael L. Borrower
Seller's Forwarding Address:
Samuel Seller and Nancy Seller
100 New Place, Wayland, Massachusetts 01778
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Nancy Borrower
REQUEST FOR SELLER(S) TAXPAYER IDENTIFICATION NUMBER
AND
FORWARDING ADDRESS
Name(s) as shown on account (if joint account, also give joint owner's name);
DATE OF CLOSING:
June 13, 2003
PROPERTY ADDRESS:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
PRINCIPAL RESIDENCE: 
INVESTMENT PROPERTY: 
PURCHASE PRICE:
Five Hundred Thousand and 00/100 Dollars ($500,000.00)
Under penalties of perjury, I/We certify that the number shown on this statement is my/our correct Taxpayer Identification
Number and further that all information contained on this form is true, correct and complete.
Signature:
Samuel Seller
Taxpayer's Identification Number (Social Security Number or Employer Identification Number: 999-99-9999)
Signature:
Nancy Seller
Taxpayer's Identification Number (Social Security Number or Employer Identification Number: 987-58-9654)
FORWARDING ADDRESS:
`
NEW TELEPHONE NUMBER:
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SMOKE DETECTOR CERTIFICATE AND INDEMNIFICATION AGREEMENT
TO:
Sample Originator Mortgage, Inc.
PROPERTY:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
DATE OF SALE:
June 13, 2003
BUYER(S)/MORTGAGOR(S):
Michael L. Borrower and Nancy Borrower
SELLER(S):
Samuel Seller and Nancy Seller
The undersigned being the respective Buyer(s) and Seller(s) of the above captioned property hereby represent and warrant to
Sample Originator Mortgage, Inc., ("Lender") that we have read and received a copy ("Exhibit A") of the law concerning the
installation of smoke detectors in residential buildings or structures (M.G.L.A., Chapter 148, Sections 26E and 26F); that the
Seller(s) has/have installed the approved smoke detectors in the above captioned premises in operating condition at the
required locations prior to this date of sale or transfer , all in compliance with the law; and that Buyer(s) has/have inspected the
above captioned premises and found the approved smoke detectors installed therein in operating conditions at the required
locations prior to this date of sale or transfer, all in compliance with the law.
The undersigned understand and agree that Lender is relying on the foregoing representations and warranties in connection
with the granting to the Buyer(s) a purchase money mortgage loan secured by a first mortgage on the premises in order to assist
the Buyer(s) in the purchase of the premises from Seller(s).
The undersigned hereby agree, jointly and severally, to indemnify and hold harmless the Lender, its successors and assigns,
from and against any and all liability, loss, damage, or injury and all reasonable costs and expenses (including without
limitation reasonable attorney's fees) related to or arising out of any misrepresentations herein contained or any failure to fully
comply with the smoke detector law, as herein set forth.
Executed as a sealed instrument this 13th day of June, 2003.
SELLER(S)
Samuel Seller
Nancy Seller
BORROWER(S)
Michael L. Borrower
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Nancy Borrower
SMOKE DETECTOR CERTIFICATION AGREEMENT
EXHIBIT "A"
From:
Massachusetts General Laws, Chapter 148, Sections 26(E) and 26(F)
S. 26(E) Local Option for Smoke Detectors in Private Dwellings.
(a) In any city or town which accepts this section, one and two family dwellings occupied in
whole or in part for residential purposes and not regulated by sections twenty-six A or
twenty-six B shall be equipped with approved smoke detectors. Owners of such buildings or
structures shall install either an approved monitored battery powered smoke detector or an
approved primary power smoke on each level of habitation and on the basement level;
provided, however, that the head of the fire department shall allow the installation of
approved monitored battery powered smoke detectors. Such approved smoke detectors shall
be installed in the following manner; an approved smoke detector shall be installed on the
ceiling of each stairway leading to the floor above, near the base of, but not within each
stairway and an approved smoke detector shall be installed outside each separate sleeping
area.
(b) Buildings or structures occupied in whole or in part for residential purposes and containing
not less than three nor more than five dwelling units and not regulated by section twenty-six A
or twenty-six B or twenty-six C shall be equipped with approved smoke detectors. Owners of
such buildings or structures shall install either an approved monitored battery powered smoke
detector or an approved primary power smoke detector outside each separate sleeping area;
provided, however, that the head of the fire department shall allow the installation of
approved monitored battery power smoke detectors; and provided, further, that in all common
hallways of said residential buildings or structures a series of interconnected approved
primary power smoke detectors shall be installed.
Added by St. 1979, c. 712 § 1. Amended by St. 1982 c. 573 § 2; St. 1989, c. 527, § 2.
S. 26(F) Sellers to Install Smoke Detectors; Enforcement.
(Effective January 1, 1982, S. 26F is added, as follows:)
All buildings or structures occupied in whole or in part for residential purposes, and not
regulated by section twenty-six A, twenty-six B, or twenty-six C shall, upon the sale or
transfer of such building or structure, be equipped by the seller with approved smoke
detectors as provided in section twenty-six E.
The head of the fire department shall enforce the provisions of this section. The provisions of
section thirty shall not apply to this section. (1979, 712, S1, approved November 9, 1979; by
S.2, effective January 1, 1982)
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-
Sample Originator Mortgage, Inc.
100 Main Street, Peabody, Massachusetts 01960
IMPORTANT INFORMATION REGARDING
PAYMENT OF REAL ESTATE TAXES
Real estate taxes bills in Massachusetts are prepared in the name of the owner of record as of January 1 for the following tax year
which runs from July 1 through June 30 of the next calendar year (the fiscal year). Real estate tax bills may be due twice a year
with the first payment due November 1 (or thirty days after the tax bills are issued, whichever is later) for a period running from
July 1 through December 31, and the second payment due May 1 for the period running from January 1 through June 30. Some
municipalities are now on a quarterly tax basis. In this case, the tax bills would be due four times a year: August 1, November 1,
February 1 and May 1 (or thirty days after tax bills are issued, whichever is later).
If you are a new owner, you may not receive your real estate tax bill directly from the city/town for the first two or three tax
payment periods. However, you are still obligated to make sure that the real estate taxes are paid punctually as one of the
obligations under your mortgage agreement. You should request that the tax collector's office send the real estate tax bills in care
of you so they are not forwarded to the former owner. In cases where tax bills cannot be sent to your attention, you should obtain
duplicate copies from the collector's office after the tax bills have been issued. Check with the collector's office the first week in
July (if quarterly), October, January (if quarterly), and April to see if the tax bills have been issued
IN THE EVENT THAT THE BANK IS COLLECTING A MONTHLY ESCROW FROM YOU FOR REAL ESTATE TAXES,
YOU SHOULD MAKE SURE BOTH COPIES OF THE TAX BILL REACH THE BANK AT LEAST 20 DAYS PRIOR TO
THE TAX DUE DATE. THIS WILL BE YOUR RESPONSIBILITY AND NOT THAT OF THE BANK.
Any real estate tax bill which remain unpaid after the due date not only places you in default under your mortgage agreement, but
also subjects you to interest and penalties from the city/town.
In the event that the bank is NOT collecting tax escrow from you, you will be responsible for paying your taxes directly to the
city/town. The Bank requests a copy of your paid receipted tax bill within 30 days after the date the tax bills are due.
This notice is given to you in order to help you understand the real estate procedures in Massachusetts and to assist you in making
sure that your real estate tax obligations are met in a timely manner.
If you have any questions, please contact the loan servicing department, ( ).
We acknowledge receipt of this notice.
Date:
June 13, 2003
Property:
Unit 34 of Riverview, 88 Wasmyhome Way, Medford, Massachusetts 02155
Michael L. Borrower
--Error! AutoText entry not defined.
Nancy Borrower
-
Sample, Example and Demonstration
Attorneys at Law
Sample Address
Sampleville, Mass 01292
Ample A. Sample
J. Fenimore Example *
Daemon Z. Demonstration **
* Also admitted in North Dakota
** Also admitted in Kansas
J. Fenimore Example, Jr.
Mary C. Partnerhoper
Mercedes M. Ferrari
Leroy C. Daddytrack
Geoffery Quatar Al-Habar
*** Powered by Office XP
NOTICE OF AVAILABILITY
OF OWNER'S TITLE INSURANCE
Date:
June 13, 2003
To:
Michael L. Borrower and Nancy Borrower
Re:
Purchase of property identified as:
88 Wasmyhome Way
Medford, Massachusetts
02155
A Mortgagee's Policy of Title Insurance insuring the title to the property you are buying is being issued to your
mortgage lender, but that policy does not provide title insurance coverage to you.
You may obtain an Owner's Policy of Title Insurance which provides title insurance coverage to you. You have an option of
obtaining an ALTA owner's policy of title insurance or an Extended Coverage Protection Owner's Policy of title insurance. The
additional cost to you for an Owner's Policy of Title Insurance in the amount of $500,000.00 is $725.00, and the cost for an
Extended Coverage Protection Owner's Policy of title insurance in the same amount is $525.00, if you request it at this time.
If you are uncertain as to whether you should obtain an Owner's Policy of Title Insurance, you are urged to seek
independent advice.




Standard Law Office
I/we do request an Extended Coverage Protection Owner's Policy of Title Insurance.
I/We do request an Owner's Policy of Title Insurance.
I/We do not request an Owner's Policy of Title Insurance.
Michael L. Borrower
Date: June 13, 2003
Nancy Borrower
Date: June 13, 2003
-