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2 0 � 2 �� 3 �� :� ;� � S. DEFAULT. Tru�tor will be in default if any of the following occur: Fraud. Any Co sumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt tha is an open end home equity plan. Payments. Any �onsumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment when �iue. Property. Any ction or inaction by the Borrower or Trustor occurs that adversely affects the Property or Beneficiary's rig�ts in the Property. This includes, but is not limited to, the following: (a) Trustor fails to maintain requirec� insurance on the Property; (b) Trustor transfers the Property; (c) Trustor commits waste or otherwise destru�tively uses or fails to maintain the Property such that the action or inaction adversely affects Bene�ciary's seq'urity; (d) Trustor fails to pay taxes on the Property or otherwise fails to act and thereby causes a lien to l�e filed against the Property that is senior to the lien of this Security Instrument; (e) a sole Trustor dies; (� if more than one Trustor, any Trustor dies and Beneficiary's security is adversely affected; (g) the Property �s taken through eminent domain; (h) a judgment is filed against Trustor and subjects Trustor and the Property to action that adversely affects Bene�ciary's interest; or (i) a prior lienholder forecloses on the Property and jas a result, Beneficiary's interest is adversely affected. Executive Offic$rs. Any Borrower is an executive of�cer of Beneficiary or an affiliate and such Bonower becomes indebtec� to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal la�ks and regulations. 9. REMEDIES Oly1 DEFAULT. In addition to any other remedy available under the terms of this Security Instrument, Ben��ciary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law iif Trustor is in default. In some instances, federal and state law will require Beneficiary to provide Trustor I,with notice of the right to cure, or other notices and may establish time schedules for foreclosure actiotl►s. Each Trustor requests a copy of any notice of default and any notice of sale thereunder be mailed to each T�ustor at the address provided in Section 1 above. At the option of Bene�ciary, all or any part of the agreed fees and charges, accrued interest and principal shall become im �mediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytim��e thereafter. If there is a defa lt, Trustee shall, at the request of Beneficiary, advertise and sell the Property as a whole or in separate parce s at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title an interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including th� time, terms and place of sale and a description of the property to be sold as required by the applicable law in, effect at the time of the proposed sale. . . , Upon sale of thej Property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Property solc� which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay t}� Beneficiary all moneys advanced for r�pairs, taxes, insurance, liens, assessments and prior encumbrances an'd interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. i� Beneficiary may purchase the Property. The recitals in any deed of conveyance shall be prima facie eviderice of the facts set forth therein. The acceptance �y Bene�ciary of any sum in payment or partial payment on the Secured Debt after the balance is due obr is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Benefciary's ri�lht to require complete cure of any existing default. By not exercising any remedy on Trustor's defaultl, Beneficiary does not waive Beneficiary's right to later consider the event a default if it happens again. I, 10. EXPENSES; VANCES ON COVENANTS; ATTORI�IEYS' FEES; COLLECTION COSTS. If Trustor breaches any covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary incurs in perfo ing such covenants or protecting its security interest in the Property. Such expenses include, but are not limi�ed to, fees incurred for inspecting, preserving, or otherwise protecting the Property and Bene�ciary's seciurity interest. These expenses are payable on demand and will bear interest from the date of payment until pa�d in full at the highest rate of interest in effect as provided in the terms of the Secured Debt. Trustor agrees t� pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rigk�ts and remedies under this Security Instrument. This amount may include, but is not limited to, Trustee's fe$s, court costs, and other legal expenses. To the extent permitted by tYie United States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys' fees Beneficiary incurs to collect the Secured Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. T'his Security Instrument shall.; remain in effect until released. Trustor agrees to pay for any recordation costs of such release. 4 Security Instrument-Open-End-qonaumer-NE OCP-REDT-NE 7/2/2011 VMP� Bankers SyatemsTM P-C48��666111NE� 11071.00 Wolters Kluwer Flnancial Servicps �1994, 2011 d J�e 4 of 8 ` ��/