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201209882 S. IDEFAIJLT.Trustor will be in default if any of the foilowing occur: �raud. Any Consumer Sorrower enga;es in fraud or material misrepresentation in connection with the Secured Debt that is an open end home equity plan. Payanents.Any Consumer Borrower 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 or Beneficiary's rights in the Properry. This includes, but is not limited to, the following: (a) Trustor fails to maintain required insurance on the Property; (b)Trustor transfers the Property; (c)Trustor commits waste or otherwise destructively uses or fails to maintain the Property such that the action or inaction adversely affects Beneficiary's security; (d) Trustor fails to pay taxes on thc Propczty or odienvise fails to act and thereby causes a lien to be filed against the Property that is senior to the lien of th3s Security dnstrument; (e) a sole Trustor dies; (fj if more than one Trustor, any Trustor dies and Beneficiary's security is adversely affected; (g)the Property is taken through eminent domain;(h)a judgment is filed against Trustor 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,Beneficiary's interest is adversely affected. Executive Offacers. Any Borrower is an executive officei of Beneficiary or an affiliate and such Borrower becomes indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws and regulations. 9. REl!'d]EDIE5 ON IIEFAULT. In addition to any other remedy available under the terms of this Security Instrument, Eeneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by-law if Trustor is in default. In some instances, federal and state law will require Beneficiary 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 Trustor at the address provided in Seccion 1 above. At the option of Seneficiary, all or any part of the 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 thereaftez. If there is a default, Trustee shall, at the request of Beneficiary, advertise and sell the Property as a whole or in separate pazcels at public auction to the highest bidder for cash and convcy absolute title free and clear of all right,title and interest of Trustor at such time and place as Trustce designates. Trustee shall give notice of sale inciuding the time,terms and place of sale and a description of the property to be sold as required by the appiicable law in effect at the tune of rhe proposed sale. Upon sale of the Property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Property sold which conveys absolute tide to the purchaser, and after first paying all fees, chazgcs and costs, sha11 pay to Beneficiary all moneys advanced for repairs,ta�ces,insurance,liens, asscssments and prior encumbrances and interest thereon, and the principal and interest on the Secured Debt,paying the surplus, if any, to Trustoz. Beneficiary may purchase the Properry. The recitals in any deed of conveyance shail be prima facie evidence of the facts set forth therein. The acceptance by Beneficiary o£any sum in payment or paztial payment on the Secured Debt after thc balance is due or is accelera[ed or after foreclosure pzoceedings are filed shall not constitute a waiver of Beneficiary's right to require comple[e cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does not waive IIeneficiary's right to later consider the event a default if it happens again. 10. EXXPENSES; ADVANCES ON COVENANTS; r�'i"PORNEXS' k'EES; COLLEC'i'ION COSTS. If Trustor breaches any covenant in this Security Instrument, Trustor agrees to pay all expenses Beneficiary incurs in performing such covenants or protecting its security interest in the Psoperty. Such expenses include, but aze not limited to, fees incurred for inspccting, 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 fu11 at[he highest rate of interest in effect as provided in the terms of the Secured Debt. Trustor agrees to pay all costs and expenses incurred Uy Beneficiary in collecting, enforcing or protecting Beneficiary's rights and remedies under this Security Instrument.This amount may include,but is not limited to, Trustee's fees, court costs, and other legal expenses. To the extent permitted by the United States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys' fees Beneficiary incurs to collect the Secured Debt as awazded by any court exercising jurisdiction under the Baukruptcy Code. This Security Instrument shall remain in effect untii released. Trustor agzees to pay for any reeordation cosCs of such release. � Security Instrument-Open-End-Consumer-NE OCP-REDT-NE 7/2/2011 VMP�Bankers Systems'R^ ' VMP-C465(NE) (1107�A0 lNolters Kluwer Financial Services 91994,2�1� Page 4 of 6