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201406239
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Last modified
7/20/2017 9:00:51 PM
Creation date
10/1/2014 1:16:01 PM
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DEEDS
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201406239
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��14���39 <br /> $, DEFAULT. Trustor wz�1 he in defau�t xf any of the fo�xowzng accur; <br /> Fraud. Any Consumer BarroWer engages �n fraud or material misrepresentatzon in conne�tion with th� <br /> S��ured I]ebt that xs a.n.open end hame e�uzty p�an. <br /> Payments. Any �onsumer Barrower on any Secured I]ebt�at is an open end hame equity plan fails to make <br /> a p ayment when du�. <br /> Property. Any a�tion or inact�on �y �he Borrower ar Trustor oc�urs that adversely affects th� Prap�rty or <br /> Benef�czary's rights in the Properry. This includes, but zs not ��m�ted to, the fo��awxng: �a} Trustor fai�s to <br /> mazntai�z required insurance on the Property; �b} Trustar�razasfers th.e Property; �c} Trustar commits Waste or <br /> other�wise destructiv�Iy uses or fai�s to maa.ntai.n the Prop�rty such that the act�on or zna��zon adversely affects <br /> Benefi�iary's security; �d} Trustor fax�s to pay tax�s on t�.e Property ar otherwzs� faa.�s to a�t and there�y <br /> causes a Ii�n to b� filed agains� �he Properry �h.a� is senzor �o the �zen of thxs Secur�ty �nstrumen�; �e� a so�e <br /> Trustor di�s; �f} if more than one Tru��ar, any Trus�or dzes and Ben.�fz�xary's secur�ty zs adverse�y aff�ct�d; <br /> �g}th.e Prop�rty is taken through emi�ent domain; �h} a judgmen� is f�led aga�.ns�Trustor and subj��ts Trus�ar <br /> and th� Properry to a�tion that adversely affects Beneficiary's interest; or �i} a prior Iienholder foreclases an <br /> the Prop�zrty and as a resu��, B�n�f�czary's interes�zs adverseXy affected. <br /> E��cuti�� �fficers. Any Borrower is an execu��v� offzcer of Benefxc�ary or an affz�za�e and such Borrov�rer <br /> b�com�s inde�ted to B�n�fi�rary or another Iender in.an aggregate amouza� grea�er than the amount perm��ted <br /> under federal. �aws and regulations. <br /> 9. REMEDIES �N I3EFAULT. �n addition ta any ather remedy availab�� under th� t�rms of thxs Se�urz�y <br /> Instrumen�, Benef���ary may acce�erate the 5ecured D�bt and forecl�se thzs Security �nstrume�.t in a manner <br /> provided by Ia�vv �f Trustor zs �n defau�t, �n some instan��s, fed�ral and state law wili requzr� Beneficiary to <br /> provide Trus�or w�th not�c� af the righ� to Gure, or other notices and may estab�ish time schedules for <br /> foreclosure act�ons. Each Trustor requests a c�py of any notice of defaul�and any not�ce of sale�h�reunder be <br /> mailed ta each Trustor at th�address provid�d in Section I abave. <br /> At the option af Beneficiary, aII ar any par� of the agreed fees and charges, accrued interes� and prin�ipal <br /> sha1� be�ome inana�c�iat�Iy due and payable, after gi�zng notxce �f requxred by �avv, upon the oc�urrence af a <br /> defau�t or anytime th�reafter. <br /> �f there �s a default, Trust�e sha1l, at the reques� of B�nefzczary, advert�se and s��� the Properry as a whole nr <br /> in separate parcels at pub�xc auc�zon ta the highest �idder for cash and convey absolute title free and cl�ar �f <br /> ail right, ti�Ie an�zntere�t of Trustor at such time and piace as Trustee desrgnat�s. Truste�sha.�� g��e not��e af <br /> sale includilag th�tzm�, terms and plac�of sale and a descrzptzan of th.e pr�p�rty to �e so�d as requzr�d by the <br /> appl�cab�e�aw in effect at the tim��f the proposed sal.e. <br /> Upon sal.e of the Praper�y and to the extent no� prahib�ted �y �aw, Truste� shall make and deliver a deed �o <br /> tb� Praperty sa�d vvhich �onveys absolute title ta �he purchas�r, and aft�r first paying all fees, charges and <br /> �osts, shall pay �o Beneficxa�y a.1.� moneys advanced for repairs, taxes, �n�urance, �zens, assessments and prior <br /> encumbrances and interest th�reon, and the principal and inter�st vn the Secured D�bt, pay�ng the surp�us, if <br /> any, ta Trus�ar. �enefz�zary may pur�hase the Property. The recitals in any deed af conv�yance shall be <br /> prima facze e��d�nce of�he facts set forth therexn. <br /> Th� acceptance by B�neficiary of any sum zn paym�nt or partial paymen� on the Secured Debt after th� <br /> baiance is due or �s a�ceierat�d or after farec�osure pro��edings are filed shal.� not constitute a waiv�r of <br /> Beneficiary's r�gh� ta require compl�t� �ure of any existing defau.Zt. By not ��ercising any remedy on <br /> Trus�or's default, Benefi��ary do�s nat wai�r� B�nef�c�ary's right to la�er consider th.e event a d�fault if it <br /> happ�ns again. <br /> 10. EXPENSES; ADVANCES �N C�3VENANTSy ATT�RNEYS' FEES; ��LLE�TI�N ��STS. If <br /> Trustnr breach�s any ca�enant zn thzs Security Ins�rument, Trustor agrees �n pay aII expenses Beneficiary <br /> xncurs in p�rfarm�ng such cavenan�s �r pratecting its security �nt�r�st zn the Properry. Such exp�nses in�lude, <br /> but are n�t �imi�ed t�, fees �n�urred far insp�ctzng, pr�ser�ing, or o�herwzse pratecting the Proper�y and <br /> Ben�ficiary's secur�ty interes�. These exp�nses are payable on demanc� and wi11 bear interest from the date of <br /> payment until paid in fuX� at the highest rate of int�rest in effect as provided in the terms of the Secured Deb�. <br /> Trus�or agrees to pay a�1 costs and expenses incurred �y Benef���ary in callecting, enforczng ar protecting <br /> Benefzczary's rights and remedies und�r thzs Security Instrument. This amaun�may �nc�ude, �ut is no� I�m�ted <br /> to, Trustee's fees, court costs, and other �egal exp�nses. To the exten� perm�t�ed by the Uni�ed States <br /> Bankrup��y Cod�, T�us�ar agr�es to pay the reasonable attorn�ys' fees Benef�c�ary incurs �a co��ect the <br /> Secured Debt as awarded by any court exercising jurisd�ct�on under �he Bankruptcy Code. Thzs Security <br /> Instrument sha.i.� remain in effect until releas�d. Trus�or agrees ta pay for any recordat�on costs af such <br /> re�ease. <br /> Security InstrUment-�pen-End-Cons�mer-N� �CP-REDT-NE 71�1�01 1 <br /> VMP�Bankers Systems� VMP-C4�5�NE} �1 Z�7).�D <br /> Wolters Kluwer�inan��al 5ervices�T 994,2Q1 1 Page 4 of 6 <br />
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