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201207845 8. Y)EFAIJi,'i'. Tiustor will be iu dePault if any of the following occur: Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with thc Securcd Debt that is an open end home equity plan. Payments_ Any Consumer Borrower on any Secured DebC that is an opcn end home equity plan Pails to makc a paymcnt when due. Propea-ty. Any action or inaction by the Borrower or Trustor occurs that adversely affects the Psoperty or Seneficiary's rights in the Property. This includes, but is not limiteci co, the following: (a) Trustor fails to mauitain required insurance on the Property; (b) Trustor transfers the Property; (c) Trustor commits waste or otherwise destructivcly uses or faiis to maintain the Property such that the action or inaction adversely affects Beneficiary's security; (d) Trustor fails to pay t�es on the Property or otherwise fails to act and thereby causes a lien to be filed againsC the Property that is senior to the lien of this Security Instrument; (e) a sole Trustor dies; (fl if mare than one Trustor, any Trustor dics and Beneficiary's security is adversely affected; (g) the Property is taken through eminent domain; (h) a judgment is filed against"d'rustor and subjects Trustor and the Property to action that adversely affects Beneficiary's interest; or (i) a prior lienholder forecloses on the Property and as a result, Seneficiary's interest is adversely affected. �xecutive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes indebted to Beneficiary or another lendcr in an aggregate amount greater than the amount pemutted under federai laws and regulations. 9. 12Eli�dEDiES ON FDEff�'AUI,T. In addition to any other remedy available under the terms of this Security Instniment, Beneficiary may accelerate the Secured Debt and foreclose this Sccurity Instrument in a manner provided by law if Trustor is in default. In some instances, federal and state law will require Bencficiary to provide Trustor with notice of the right to cure, or other notices and may establish time schedules for foreclosure actions. Each Trustor requests a copy of any notice of default and any notice of sale thereunder be mailed to each'I'rustor at thc address provided in Section 1 above. At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become inunediately due and payable, af[er giving notice if required by law, upon the occurrence of a defauit or anytime thereafter. If there is a default, `Trustee shall, at the request of Beneficiary, advertise and sell the Propercy as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolutc titie free and clear of all right, title and interest of Truslor at such time and place as Trustee designates. Trustee shall give notice of sale including the 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 salc. Upon sale of the Property and to the cxtent not prohibited by law, Trustee shall make and deliver a deed to the Property sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to Beneficiary all moneys advanced for repairs, ta�ces, insurance, liens, assessments and prior encumbrances and interest thereou, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth therein. The acceptance by Beneficiary of any sum i� payment ar partiai payment on the 3ecured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require complete curc of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does not waive Beneficiary's right to later consider the event a default if it happens again. f0. EXPENSP:S; ADV�,NCES ON COVENANTS; A'd'T'OY2NEYS' + +�5; COg,LECTION COSTS. If Trustor breaches any covcnant in this Security Instrument, Trustor agrees to pay all expenses Seneficiary incurs in performing such covenants or protecting its security interest in the Property. Such expenses include, buL are not limited to, fees incurred for inspecting, preserving, or otherwise protecLing the Property and Beneficiary's security interest. These expenses are payabic on demand and will bcar interest from the date of payment until paid in full at the highest rate of interest in effect as provided in the terms of the Secured Debt. Trustor agrees to pay all cosLs and expenses incurred by Beneficiary in collecting, enforcing or protecting Beneficiary's rights and remedies undez this 5ecurity Instrument. This amount may include, but is not limited to, Trustee's fees, court costs, and othes legal expenses. To the extent permitted by the United States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys' fees BenePiciary incurs to collect the Secured Debt as awarded by any courL exercising jurisdiction under the Banla�uptcy Code. This Sccurity Instrument shall remain in effect until released. Trustor agrees to pay for any recordation costs of such release. Security Instrument-Open-End-Consumer-NE OCP-RE�T-NE 7/Z/2011 VMP�Bankers SystemsTM' VMP-C465(NE) ('I'107).00 Wolters Kluwer Financiai Services m1994,ZO7 7 . Pagc 4 of 6