201404506 - Laserfiche WebLink

Browse

��14�45�� S. DEFA,I,ILT. Trustor wx��be xn default if any of the following accur: Fraud. Any �ansumer Barrawer engages in fraud or material, mxsr�presen�ation zn Gonnectian wzth the S�cured Debt th.at is an open end home equzty p�an. Payments. Any Consum�r Sorrower on any Se�ured Debt that zs an open end home equzty pl�n faz�s to make a p ayment wh�n due. l�r-operty. Any action or �nacti�n by the Barrower or Trustar o�curs �h.at ad�ersely affe�ts the Praperty or Benefzciary's rzghts �n the Properry. Th�s �nc�udes, but is not ��m�ted ta, the fo��o�vzng: �a} Trustor faiis t❑ maznta.i.n requrred znsuran�e on th� Pr�perty; (b} Trustar�ransfers the Pr�p�r�y; �G} Trustor comm�ts wast� ar oth�rw�s� destru�tr�re�y uses or faixs to mainta�n�he Pr�per�� such that th� a�tran or znact�an adverse�y affe�t� Bene�i�xa�z y's s�curi�r; �d} Trus�or fai.xs ta pay taxes �n the Property ar otherwzse faa.ls ta a�� anc� ther��y causes a ��en to b� filed against the Property tha� is sen�or to th� lzen of�his S�curzty Znstrumen�; �e} a sole Trustor d��s; (f} if more than ane Trustor, any Trustar d�es and B�nefxcza�y's s��urzty �s ad�erse�y aff�eted; (g} t.�.e Property is taken through em�nent d�main; th} a j udgment zs fz�ed aga�ns� Trustar and subj ects Trustor ar�d the Property to actxnn that ad��rse�y affects Benef��iary's interest; or (z� a prxor �ienholder forecloses on th�Prop�rty and as a result, Benef��ary's xnteres� xs ad�ersely aff�cted. Ex�cutive �ff��ers. An.y Borrower is an. executiv� offzcer of Bex�ef��ary ar an affi��at� and such Barrawer b��am�s �nde�ted to B�nefzczary or an�th.er x�nder �n a.za aggregate amount greater�han the amount permztted under federai laws an�regu�at�ons. �. 1�EMEDIES �N' DEFA.UL�'`. �n additi�n �a any ath�r remedy a�ai.Iable under th� t�rms of thzs Securi�y Znstrument, Beneficzary may ac�e�erate th� 5ecured Debt and forec�ase �his Secur�� nstrument zn a manner provxded by Iaw �f Trustor zs zn de�au�t. �n some instances, f�deral. and sta�e �aw wzl� require Benefic�ary to pro�ide Trust�r w�th. notice �f the right ta cure, or other no�ices and may es�ab�zsh time schedules for fare��osure actions. Each Trus�or requests a capy of an� notice af defauZt and any notzce of sa�e th�reunder be mailed to each Trustor at the address pro�id�d zn 5ection � abo�e. At the optzori of Benef�c�ary, al.l or any part of the agreed fe�s and charges, accrued znterest and prznc�pa.1 shall becom� immed�at�ly due and payable, aft�r gi�ing notxce if requ�red by Iaw, upan th� o�currence of a defau�t or any��m�th.ereaf-��r. Zf ther� zs a defau�t, Trustee shal.�, at �he request of Benefzczary, adver��se and sell the Property as a whale ar in separate parcels at public auctzan t� the h�ghest bidder for cash a�ad �on�ey abso�ute titl� free and clear of a1.� right, tzt�� and in�erest of Trustor at such t�m� and�lace as Truste�des�gnates. Trustee shaJ.l gi�e natzce �f sal.e includzng the time, terms and p�ace of sale and a descrzption of�h.e praperty ta be so�d as requzred by the appx�ca�le Iaw xn effect at the�ime af the proposed sal.e. Upon sal.e of the Praperty and to the extent not prohxbi�ed by �av�, Trustee shall make and de�zver a deed C� the Property sald whzch con�eys absolute tzt�e ta �he purchaser, and after fxrst paying al.� fees, charges and �osts, shall pay to Ben�f�czary all man�ys advanced f�r repairs, �axes, insurance, �i�ns, assessme�ts and prior �ncumbrances and iz�terest ther�on, and �he prin�ipal and znter�st ❑n th� Secured D�bt, payzng the surplus, if any, ta Trustor. B�nefic�ary may purchase the Property. The r�citals �n any deed of �on�eyance shall be pr�ma facz�e��d�nce of�he facts se�forth�erexn. The accep�ance by Benef�czary of any sum xn payment or par�xal. pa�men� on the Secured Debt after the bal.ance is due or is accel�ra�ed or after for�ciosure praceedzngs are fi�e� shall not consti�ute a wai�er of Beneficzary's righ� to requ�re comp�ete cure af any exxs�zng defau�t. By not exer�isxng any remedy nn Trustor's defaul�, Benef�czary does no� waive Benefi�zaryys righ� to later consider the e�ent a default if it happens agazn. 14. E�PENSES; ADVANCES 4N C�VENANTS; ATTURNEYS' FEES; C�LLECTI�N CC)STS, �f Trustor br�aches any ca�enant zn th�s Secur�ty �ns�rum�nt, Trustor agrees to pay aII expenses Benefi�iazy zn�urs xn perfarming such covenants or pratecting zts se�urzty zn�erest �n the Prop�rty. Such expenses zncludey bu� are not 1�mzte� to, fe�s incurr�d for �nspectzng, preser��ng, flr otherw�se protec��ng the Property an�i Benef��zary's security interest. Thes� expenses are payabl� an demand and wz1l b�ar interest from�h.e dat� flf payment untxl pazd zn fu11 at th�h�gh�st rate of znt�rest in effect as provzded zn the terms of the Secured Debt. Trustor agrees to pay a�� casts and expenses i.ncurred by B�nefzciary �n col�ectzr�g, �nforcing or protectzng Benefic�ary's r�ghts and remedxes under�hzs Secur�ty �nstrumez�t. Thzs a�maunt may znc�ude, but is no� ��mited to, Trust�e's fees, cour� costs, and oth�r xega� exp�nses. To th� ex�ent permztted by the Un�ted Sta��s �ankrup�cy �o�e, Trus�or agrees ta pay the reasonable at�orn�ys' fees Benefi�iary zncurs ta collect the Se�ured D�bt as awarded �y any Gourt exercisin� �urisdxctxon und�r the Ban.kruptcy Cod�. Th�s S��urzty �nstrument shal� re�axn zn effect u�til released. Trustor agr�es to pay for any recardation costs �f such re�eas�. 5ecurity Instrcament-�pen-End-Cansumer-NE DCP-R�DT-NE 7121201 1 VMP�Bar�kers Systems'�'" VMP-C4G5{NE} ti�n7}.pp W�Iters Kluwer Firtancia[S�r�ices cQ1394,201 1 Pag�4 af� �.�^ �