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201210885 S. DEFAiJY�T.Trustor will be in default if any of the following occur: Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that is an open end home equity plan. Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to make a payment when due. Propert��. Any action or inaction by the Borrower or Trustor occurs that adversely affects the Property or Beneficiary's rights in the Property. This includes, but is not limiCed 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 ta�ces on the Property or otherw�se fails to aet and thereby causes a lien to be filed against the Property that is senior to the lien of this Security Instrument; (e) a sole Trustor dies; (�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 licnholder forecloses on the Property and as a result,Beneficiary's interest is adversely affected. Executive Of�cers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Bonower becomes indebted to Bencficiary or anocher lender in an aggregate amount greater than the amount permitted under federal laws and regulations. 9. REMEDdES ON DEFAiJLL'i'. In addition to any other remedy available under the terms of this Security Instrumeni, Beneficiary may accelerate the Secured DeUt and foreclose this Securiry Instrument in a manner provided by law if Trustor is in default. In some instances, federal and state law will require Beneficiary to providc 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"Cmstor 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 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, ac the request of Seneficiary; advertise and sell the Property as a whole or in separate pazcels at public auction to the highest bidder for cash and convey absolute title free and cleaz of all right,title and interest of Trustor 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 propeny to be sold as required by the applicable law in effect at the time of the proposed sale. Upon sale of the Properry and to the extent 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 ali fees, charges and costs, shall pay to Beneficiary all moneys advanced for repairs,taxes, insurance,liens, assessments and prior encumbrances and interest thereon, 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 Beneficiuy of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure procecdings are filed shall not constitute a waiver of Beneficiary's right to require complete cure 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. 10. EXPENSES; ADVANCES ON Cf)VEN�TS; ATTOI2NEYS' �E�S; COLLECT'ION COSTS. If Trustor breaches any covenant in this Security Instrument, Trustor agrees to pay all expenses Sene£iciary incurs in performing such covenants or protecting its security interest in the Property. Such expenses include, but aze not limited to, fces incurred for inspecting, preserving, or otherwise pratecting 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 Securiry InstrumenY.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 attomeys' fees Beneficiary incurs co collect the Secured Dcbt as awarded by any court exercising jurisdiction under the Bankruptcy Code. This Security Instrument shall remain in effect until released. Trustor agrees to pay for any recordation costs of such release. Secufityln5trtiment-Open-Eny-Consumer-NE OCP-REOT-NE 7/2i20t7 VMPO Bankers Systems^^ VMP-C4651NU (1107).0� Wolters Kluwer Financiai Services�'994,20�1 Page 4 of 6 �� Rt ,� IR�,k _,� ��