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201210445 8. DUE Oi\' SALE: Beneficiary may, ar ics option, dcclare the en[ire balance of die Secured llebt to be inmiediately due and payablc upon [he creation ol', or contract for Lhe creation of, a translcr or sale of all �r anv part of ihe Propert}�. This right is subject to ihe ree�rictions imposed by Iederal law (12 C.F'.R. 591), as applicable. 9. DEFAULT. 7�rustor will be in delault if any of Che following occur: Fraud. Any Consumer Borrower engae,es in kraud or material misrepresenration in�conn�etion wi[h �hc Secured Debt t1uL is an open eud l�ome eyuit plan. Payments. Any Consumer Borrnwer un any Securcd llebt tl�at is an open end home equity plan fails to make a payment when due. Property. Any xction or inaction by thc Borrower or Trustor occurs that adversely affects the Property or Beneficiary's rights in the Pcoperry. This includes, but is not limited to, the following: {a) Trustor fails to maintain required insurance on the Pmpeny; (b) Trustor uansfers the Properry; (c) Tivstor commits waste or otherwisu destructively uses or lails to maintain the Properry such that the ac[ion or inac[ion adversely affects BencCiciary's security; (dj "i'rustor fails to pay taxes on the Property or otherwise Cails to ae[ and thereby causcs a lien to be filed agairist the Property �ha� is seniur to the lien of diis Security Instrument; (e) a sole Trustor dies; (f} if more than one Trus[or, any Trusror dies and Beneficiary's secuuty is adversely affceted; (g) [he Property is Laken through emi�iem domali�; (h) a judgment is filed against "1'rustor and subjecls Trustor and che Property to action Iha[ adveascly aCfects Beneficiary's intcrest; or (i) a prior lienhol�cr lorecloses on die Property and as a result, Beneticiary's interest is adversely affected. Executive OfFicers. Any Rorrower is an executive officer of Beneficiary or a� aPfiliate and such Borrowcr becomes nidebted �o Beneficiary or another lender in an aggregate amoum �,�rcatcr than the amount permitted under federal laws and regulations. 10. REMEDIES O� DEFAULT. In additiun [o any other remedy available under the terms of lhis Securiry Instrument, Beaeficiary may accelera[e the Secured Deb( and foreclose this Securily Instivment in a manncr provided by law if Truslor is in deYault. In some ins�ance.ti, 1�cderal and state law will require Beneficiary �o provide Trustoe widi noLice ol the right to cure, or other notices and may establish cime schedules for foredosure actions. Lach Trustor rcyuests a copy of any notice ot def�ulL and anv notice of sale tl�ereundor be mailed to each Trus[or ai thc address provided m Seclion 1 above. At the option of Beneliciary, all or any part oY thc agreed fees and charges, accrued inierest and principal sh�ll becomc imrnediately dtte and payable, al�ter giving notice if reguued by law, upon the occurrence of a default ar anyume thereafter. If I.here is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Property ati a whole or in eeparate parcels at public auction to the highest bidder for cash and convey absohi[e title free and clear of all right, ritle and interest of Trustor at such time and place as Trustee designates. Tnistee shall give notice of sale including the time, terms and place of sale end a dervcription oP the property co be sold as reyuired by the applicable law in effeci ac tt�e time of[he proposed sale, Upon salc nl the Property and to the extcnt not prohibited by law, Trus�ce shall make and deliver a deed to the Yroperty sold wltich convcys abeolute tiYle to the ptirchaser, end after first paying all fees, eharges and cosls, shall pay to �3eneficiary all moneys advaneed for repairs, taxes, inaurance, liens, assessmems and prior encumbrances and inLerest thcrcon, and the principal end inter�st on the Seeured Debt, paying the surplus, if any, to Trustor. Bencficiary rnay purehase tl�e Property. ��hc recitals in any deed of convcyance shall be prima facie evidence ol�the facts set forth therein. The acceptancc by Beneficiary of any sum in paymcnt or partial payment on the Sccured Debt after the balance is due or is aceclerated or afrer foreclosure proccedings are filed shail no� constimte a waiver of Benefici2ry's right tp reyuirc eomplete cure of any existing dcfault. By not exercising any remcdy on Trustor's defaull, Beneficiary does not waive Bcnel'iciary's right to later conaider the event a dcfault if it happens again. �page 5 of 9J �1�30 Wnlmrs I