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201209560 8. DEFAULT.Trustor will be in default if any of the following occur: Fraud. Any Consumer Bonower engages in fraud'or material misrepresentation in connection with the Secuzed Debt that is an open end home equity plan. Payments.Any Consumer Sorrower on any Secured Debt that is'an open end home equity plan fails to make a payment when due. Property. Any action or inaction by the Borrower or Trustor occurs'that adversely affects the Property ar Beneficiary's rights in the Properiy. This includes;'but is not lirnited to;'the following: (a) Trustor fails to maintain required insurance�n the Properry; (b)Trustor transfers the Property; (c)Trustor commits waste or otherwise des[ructively uses or fails to maintain the Propeny such that the action or inaction adversely affects 'Beneficiary's securiry; (d)Trustor'faiis to pay'taxes on the Property or otherwise fails to act and thereby causes a lien to be filed against the Property that is senior to the lien of this Securiry Insmunent; (e) a solc Trustor dies; (�if more than one Trustor, any Trustor dies and Beneficiary's security"is adversely affected; (g)the Property is taken through eminenf domaui;(h)a judgment is filed againsf Trustor and subjects Trustor and the Property to action that adverselyaffects Beneficiary's interest; or(i)apriorlienholder forecloses on the Property and as a result,Beneficiary's interestis adversely affected. �xecutive Officers.'Any Borrower is"au executive officer of Beneficiary or an=affiliate"and such Borrower becomes indebted to Beneficiary or another lendex in an aggregate amount greater than the amount perxnitted under federal laws and regulations: 9. I2EMEI)I�+S ON DEFAUI.1'. In addition ro any other remedy available under the terms of this 8ecurity Instrument,Beneficiary may accelerare'the Secured Debt`and foreclose this 5ecurity Znstrument is`a manner providcd by law if Tzustox 3s in'default. In somc instances, federal and state law will rcquire Beneficiary to pzovide Trustor with notice of chc right to cure,`or other notices and may establish tisne schedules for foreclosure actlons. Each Trustor requests a copy of any notice of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1 above. At the option of Beneficiary, a11 or any part ofthe agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. If there is a default, Trustee shall,af the request of Beneficiary, advertise and sell the Property as a whole or in sepazate parcels at public auction to the highest biddcr for cash ai�d convey absolute title£zee and clear of atl right,title and interest of Trustor at such tnne and place as Trustee dcsignates. Trustee shall give notice of sale including the time,tercxts aad place of sale and a description of ttxe property to be sold as required by the appiicable law in effect at the time of the proposed sale. Upon sale of the Property and to the extent not proh3bated by law, Trustee shall make and deliver a deed to the Pzoperty sold which conveys absolute xitle to the purchaser, and after first payzng all fees, chazges and costs, shalT pay to Beneficiary all moneys advanced for repairs,tases,insurance,liens, assessments and prior encuznbzances and interest thereon, and the principal and interest on the 5ecured 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 Beneficiuy,of any sum in payment or partial payment on the Secured Aebt after the balance is due or is accelerated oz after foreclosure proceedings are fzled shall not constitute a waiver of Beneficiary's right to require compietc cucc of any existing default. By not exercising any-remedy on Tzustor's default, Beneficiary does not,waive Beneficiary's,right to-later considez tbe evenc a default if it happens again. 10. EXPENSES; ADVA.NCES ON GOVENAN'i'S; ATTORNEYS'<FEES;;COLLECTION COSTS. If Trustor breaches any covenant in this Security Instrument,;Tmstor agrees to pay all expenses Beneficiary incurs in performing such covenants or protecting-its security interest in the Property. Such expenses include, but are-not limited to, fees incurred for inspecting, preserving, or otherwise protecting the Property and Beneficiary's security interest. These expenses are payable on demand and will bear 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 costs and expenses incurred by Beneficiary in collecting; enforcing:or protecting Beneficiary's rights and remedies under this Security Instrument.This amount may include,but is not lnnited to; Trustee's fees, coun costs, and other legal expenses. To the extent permicted by the United States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys' fees Beneficiary incurs to collect the Seeured Debt as awazded by any court exercising jurisdiction under the Bankiuptcy Code. This Security Instnunent shall'remain in effect until released: Truston agrees to pay for-any recordation costs of`such release: �� �� Securl[y InstrumenGOpen-Entl-Consumer-NE OCP-PEDT-NE 7/2/2011 VMPO��Ban',eers Syscemsnn VMP-C465(NE1 f11071.00 Wolters Kluwer Financial Services�!994,?.0'�1 � Page a of 6