201402779 - Laserfiche WebLink

Browse

��14��779 �. DEFAULT. Trustor wz��b�zn defaulC if any af the follawing occur: Fraud. Any Cansumer Borrawer engages in fraud or mater�al. mzsrepresentatzon in connec�ion with �he S�cured Debt that zs an op�n end home equity p�an. Payments. Any Consum�r Borrow�r on any S�cur�d Debt that xs an apen end home equity plan fai.ls to make a p ayment wh�n due. Property. Any ac��on ar inactian by the Borrower ar Trustor occurs that ad�ersely affects the Proper�y or B�neficiary's rzghts xn th.e Property. This inc�udes, but is nat lxmzted to, �h.e fnl�owing: �a} Trustor faixs to maintain requ�red znsura.n��n the Praperry; (b} Trustor transf�rs the Prop�rty; �c} Trustor�ommi�s waste or oth�rwise destruct��Iy us�s or fails ta m.a�n�a.in�he Property such�ha��he action ar ina��on adversely affects B�neficiary's secur��y; �d} Trustor fa�.�s �a pay taxes on the Propea�y or ath�rwise fa��s to a�t and th�reby caus�s a Iien to be fz�ed against th� Proper�y �hat �s senior to the �zen of thxs S�curzty Ins�rum�nt; �e} a so�e Trustor dies; �f} if more than one Trustor, any Tru�tor �Ixes a.nd Benefzczary's security is adverse�y affected; �g� the Property is taken through em�n�nt domain; �h} a judgment is filed agai.nst Trus�or and subj��ts Trustar and the Property to act�on tha� adversely affe�ts Benefzciary's interest; or �z} a prior lienholder forec�os�s �n the Property and as a result, Benefz�xary'� interest is ad�erse�y affected. Exe�ut�ve �fficers. Any Borrow�r �s an ex�cuti�� officer of B�n�f�cxary or an affzlzate and su�h B�rrawer becomes �ndebted to Benef�ciary or anath�r ��nder xn axa aggregate amount greater�han the amnunt permitted under federal�aws and regulatzons. 9. REMEDIES DN DEFAULT. In addition to any other remedy ava�.�ab�e under the terms of th�s Securiry �nstrument, Beneficiary may accelerate the Secured Debt and for�c�os� th�s Security Instrument �n a manner pro��d�d by Xa� if Trus�ar zs xn d�fau�t. T�n some znstan�es, federal. and s�ate �aw w��l require Benef��ary to provxde Trustor v�ith nntice of �he r�ght to cure, ar other na�ices and may �stab��sh txme s�h�dules far farec��sure act�ons. Each Trustor reques�s a copy af any notzc��f default and any not��e of sa��thereunder be mai�ed ta each Trustar at the address prov�ded in Sectian � abave. At the opt�an �f Ben�fx�iary, all or any part of the agreed fees and char�es, accrue� znterest and principal. shai� becQm� xmmediately due and paya��e, after giving notice if requ�red by law, upan the o��urrenc� of a default or anytime thereafter. Zf there is a defau�t, Trustee shal.l, a� the requ�st of�eneficiaxy, ad�ert�se and se��the Property as a whole or �n separate parcels at publi� auction�a the hzghest bzdder for cash and con�ey absolute titl� free and clear of a1I right, title ax�d interest af Trustar at su�h t�me and p�ace a.s Trus��d�szgnates. Trustee sha11 gi�e notice of sale includzn� the time, terms and place af sal.e and a descrzptzon af�h.e proper�y�o be sa�d as required by th� appli�able Iavv in�ffect at the time of the proposed sa1e. Lrpon sale of th.e Proper�y and t� th� �xtent not prohzbi�ed by Iaw, Trustee shal.� mak� and de��ver a deed to the Praperty sold v�hich conveys absalute titi� to the purchaser, and aft�r f�rst payzng a�.� fees, charges and costs, shal.� pay ta Benef�c�ary a1� moneys advanced for repa�.rs, taxes, xnsurance, �iens, ass�ssments and priar encumbran�es and xnter�st�hereon, and the princ�pal and interest an the Secured Debt, paying the surplus, if any, ta Trustar. Beneficiary may pur��iase the Property. The recitals in any deed of C�nWeyance sha11 he �rima fa�ze evxdence of the facts set forth therexn. The acceptance by B�n�fi�iary of any sum in, paymeza� or partzal payment on the Secured I]ebt after the bal.ance zs due ar is accelerat�d ar after forec�osur� proceedi.za.gs ar� f��ed shal.l not cons�itu�e a wai�er af Benefic�ary's rzght to require complete cure of any exi��ing defau��. By no� exerczs�ng an.y remedy on Trustor's d�fau�t, Benef�c�azy daes nat wai��e B�neficiary's r�ght to �ater consider the �vent a default if it happens again.. lU. E�P�NSES; ADVAN�ES �N ��VENANTS; ATT�RNEYS' FEES; C�LLECTI�N C�STS. �f Trustor br�aches any ca�enant in this Security Instrument, Trustar agrees ta pay al.� exp�nses Benefic�ary i.ncurs in perfarmzzag such co��nar�.ts or protecting its se�uri�y interest in th� Property. 5uch expens�s �nclud�, but are not �imited to, fees incurred far znspectxng, pr�ser�zng, or oth�rwis� protecting the Property and Ben�fi��ary's s��urzty znterest. These expenses are payab�e on d�mand and wx�� bear znterest fram the date of paym�nt until pa�.d �n fu�� at the highest rate af interest in effect as pr��zded zn the terms of the Secured Debt. Trustor agre�s ta pay a11 casts and expenses �ncurred by BenefiGiary �n �a��ct�ng, �nfor��ng or protecting Beneficiaxy's rights and remedzes under this Security Instrumen�, Thxs amount may include, but is no�lzm�ted to, Trustee's fees, c�urt �os�s, and ather legal expenses. To the e��nt permit�ed by th� Unit�d States Bankx-uptcy Code, Trustor agrees �a pay the reasona��e attarneys' fees Benef�c�ary xncurs �o coll�c� the Secured I]ebt as awarded by any cour� exerczsi.�.g jurisdic��on under th.e Bankru�tcy Code. This Security �ns�rum�nt shal.l r�main in effect unt�� re�eased. Trustor agrees �a pay far any recordation costs of such releas�. Sec�rity[nstrtament-Open-End-Cvnsumer-N� �CP-R�DT-N� 71�12�� VMPO ga�kers Systems''�'' VMP-C4�5{NE) (�107y.4Q Wolters f�f�wer Financ�af Ser�rices��994,2�T T Page 4 vf 6 � f� ��