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<br />license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify
<br />Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to
<br />the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time
<br />for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an
<br />inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be
<br />entirely for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />Authority to Perform. If Trustor fails to perform any duty or any of the covenants contained in this
<br />Security Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor
<br />appoints Beneficiary as attorney in fact to sign Trustor's name or pay any amount necessary for
<br />performance. Beneficiary's right to perform for Trustor shall not create an obligation to perform, and
<br />Beneficiary's failure to perform will not preclude Beneficiary from exercising any of Beneficiary's other
<br />rights under the law or this Security Instrument.
<br />Leaseholds; Condominiums; Planned Unit Developments. Trustor agrees to comply with the provisions
<br />of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium
<br />or a planned unit development, Trustor will perform all of Trustor's duties under the covenants, by -laws,
<br />or regulations of the condominium or planned unit development.
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by
<br />private or public entities to purchase or take any or all of the Property through condemnation, eminent
<br />domain, or any other means. Trustor authorizes Beneficiary to intervene in Trustor's name in any of the
<br />above described actions or claims. Trustor assigns to Beneficiary the proceeds of any award or claim for
<br />damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds
<br />shall be considered payments and will be applied as provided in this Security Instrument. This assignment
<br />of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien
<br />document.
<br />Insurance. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks
<br />reasonably associated with the Property due to its type and location. This insurance shall be maintained in
<br />the amounts and for the periods that Beneficiary requires. W hat Beneficiary requires pursuant to the
<br />preceding two sentences can change during the term of the Secured Debt. The insurance carrier providing
<br />the insurance shall be chosen by Trustor subject to Beneficiary's approval, which shall not be unreasonably
<br />withheld. If Trustor fails to maintain the coverage described above, Beneficiary may, at Beneficiary's
<br />option, obtain coverage to protect Beneficiary's rights in the Property according to the terms of this
<br />Security Instrument.
<br />All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard
<br />"mortgage clause" and, where applicable, "loss payee clause." Trustor shall immediately notify Beneficiary
<br />of cancellation or termination of the insurance. Beneficiary shall have the right to hold the policies and
<br />renewals. If Beneficiary requires, Trustor shall immediately give to Beneficiary all receipts of paid
<br />premiums and renewal notices. Upon loss, Trustor shall give immediate notice to the insurance carrier and
<br />Beneficiary. Beneficiary may make proof of loss if not made immediately by Trustor.
<br />Unless otherwise agreed in writing, all insurance proceeds shall be applied to the restoration or repair of
<br />the Property or to the Secured Debt, whether or not then due, at Beneficiary's option. Any application of
<br />proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the
<br />amount of any payment. Any excess will be paid to the Trustor. If the Property is acquired by Beneficiary,
<br />Trustor's right to any insurance policies and proceeds resulting from damage to the Property before the
<br />acquisition shall pass to Beneficiary to the extent of the Secured Debt immediately before the acquisition.
<br />Financial Reports and Additional Documents. Trustor will provide to Beneficiary upon request, any
<br />financial statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign,
<br />deliver, and file any additional documents or certifications that Beneficiary may consider necessary to
<br />perfect, continue, and preserve Trustor's obligations under this Security Instrument and Beneficiary's lien
<br />status on the Property.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate
<br />conveyed by this Security Instrument and has the right to irrevocably grant, convey, and sell the Property
<br />to Trustee, in trust, with power of sale. Trustor also warrants that the Property is unencumbered, except
<br />for encumbrances of record.
<br />7. DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be
<br />immediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of all
<br />or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R.
<br />591), as applicable.
<br />8. DEFAULT. Trustor will be in default if any of the following occur:
<br />Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the
<br />Secured Debt that is an open end home equity plan.
<br />Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to
<br />make a payment when due.
<br />Security Instrument -Open -End- Consumer -NE
<br />VMP ® Bankers Systems 1M
<br />Wolters Kluwer Financial Services 0 1994, 2011
<br />xx- xx- xxx017
<br />VMPC4851NE111107)
<br />OCP- REDT -NE 7/1/2011
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