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201210498 �. I3E�'�LgJY��'e Trustor will be in default if any of the following occur: Frauc3. Any Consmner Sorrower engages in fraud or material misrepresentation in connection with the Secured Debt that is an open end home equity plan. Paymeabts. 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 Borrowez or Trustor occurs that adversely affects the Property or Beneficiary's rights in the Property. This includes, but is not limited to, the following: (a) Trustor fails to maintain required insurance on the Property; (U) Trustor transfers the Property; (c) Trustor coiu.mits waste or otherwise destructively uses or fails to maintain the Property such that the actiou or inaction adversely affects Beneficiary's security; (d) Trustor fails to pay taxes on the Proper�y or otherwise fails to act and thereby causes a lien Co be filed against the Property that is senior to the lien of this Security Instiument; (e) a sole Trustor dies; (i� if more thau one TrusCor, 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 Ihat adversely affects Beneficiary's interest; or (i) a prior lienholder forecloses on the Property and as a result, Beneficiary's interest is adversely affected. Execo.ntiae Of#'ieers. Any Borrower is an executive officer of Seneficiary or an affiliate and such Borrower bccomes indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws and regulations. 9• IZL+:Ni�I3I�S ON DE�'ALJI.T. In addition to auy other remedy available under the terms oP this Security InstrutnenC, Beneficiary inay accelerate the Secured DeUt and foreclose this Security Insh-ument ui a manner provided by law if Trustor is in default. In some instances, federal aud state law will require Beneficiary to provide Trustor with notice of the right to cure, or other notices aud 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 Section 1 above. At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall becoine imrnediately due and payaUle, after giving notice if rcquired Uy law, upon the occurrence of a default or anytune thereafter. If there is a default, Trustee shall, at the request of Seneficiary, advertise and sell the Property as a whole or in separate parecls at public auction to the highest Uidder for cash and convey absolute title free and clear of all right, title and interest of'd'rustor at such time and place as Trustee designates. Trustee shall give notice of sale including the time, texms aud place of sale and a description of the property to be sold as required by the applicaUle law in effect at the time of the proposed sale. Upon sale of the Property and to the extent not prohiUited by law,.Trustee shall make and deliver a deed to the Property sold which conveys absolute titl"e 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 cncumbrances and interest thereon, and the principal and interest on the Secured DeUt, paying ihe 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 thereili. The acceptance by Beneficiary oP any sum in payment or partial payment on the 5ecured Debt after the balance is due or is accclerated or after foreclosure proceedings aze filed shatl no[ constitute a waiver of Seneficiary's right to require complcte cure of any existing default. By not exercisiug any remedy on Trustor's default, Beneficiary does not waive Beneficiary's right to later consider the event a default if it happens again. 10. �X�'E+NSES; ALDVANC�;S ON COVEN�,N'�S; A'I"I'0121VEYS' P+�;ES; COL%,�CB'ION COSTS. If Trustor breaches any covenant in lhis Security Instrument, Trustor agrees to pay all expenses I3eneficiary incurs in perfonning such coveiaants 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 beaz interest from the date of paymezit 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 InsriZunent. 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 Bcncficiary incurs to collect the Secured Debt as awarded by auy court exercising jurisdiction under the Baulcruptey Code. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any recordation costs of such release. �l�� Security Instrument-OpernEnd-Consumer-NE OCP-RE�T-NE 7/2/2011 vMP�13ankers SystemsT^^ vMP-C465(NE) (1107).00 Wolters Kluwcr Financlal Services 01994,2011 . Page 4 of 6