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��15�5�55 � 6en�ficiary requir�s pursuant ta the preceding Trustar faiis tn mainta�n the co�erage described abo�e, Benefic�ary may, at Beneficiary's optian, obtain shall �e chosen k�y Trustvr subject to Beneficiary's appr��a1, which shall nt�t be unr�asonably withheld. If cv�erage tv pr¢tect B�neficiary's rights in the Praperty acGv�ding to the t�rms of this Security Instrument. two sentences can change during th�t�rm ❑f the 5ecured Debt. The insu�ance carrier prv�iding the insurance Ail insurance pvlicies and renewals shall �e acceptabie to 6eneficiary and shaf! include a standard "mortgage clause" and, where appli�af�le, "lass payee clause." Trustar Shall immediately natify Beneficiary vf canceilatian �r termination vf the insuranc�. 6enefic�ary shali ha�e th� �ight to hald the p�li�ies and renewals. lf Beneficiary requires, Trustar shall immediately gi�� to Beneficiary all receipts vf paid prerniums and renewai natices. Upon �ass, Trustor sha11 �ive imrnediate natice to the �nsurance carrier and Benefi�iary. B�neficiary may mak� prvaf of loss if not made immediately by Trustor. Unl�ss vtherwtse agreed in writing, all insurance prvice�ds shall he applied ta the restoratian or repair vf the Property or to th� Secur�d Debt, whether vr not th�n due, at Benefi�iary's t�ptivn, any applicati�n of prc�ceeds to principal shall n�t extend or postpvne th�due date of the scheduled payment nor change the am�unt❑f any paym�nt. Any excess will be paid tv the Trusta�. !f the Praperty is acquired k�y Beneficiary, Trustor's right to any insurance palicies and prQc�eds resuiting from darnag�t�the Property before the acquisition shall pass to Beneficiary tv the extent of the Secured Debt immediat�ly befvre the acquisitEon. Financial R�ports and Additional D�cuments. Trust�r will provide to Beneficiary u�vn request, any' financia� staternent or informativn Beneficiary may d�em reasonably necessary. Trustor agrees to sign, deli�er, and file any add�tional �lvcum�nts vr c�rtifications that Benefi�iary may cansider necessary tv perf�ct, cvntinue, and pr�ser��Trustor's ab�igat�ons und�r this Security tnstrument and Beneficiary`s lien status on th� Property. s. WARR.ANTY�F T�TLE. Tru$tar warrants that Trustar is o�will ae lawfully seized vf the �state c�n�eyed by this 5ecurity lnstrument and has the right ta irre�o�ably �rant, con�ey, artd sel� the Property ta Trustee, in trust, with power vf sa�e. Trustar alsa warrants that the Property is unencumbered, exCept far�ncurnbrances❑f re�ord. 7. DUE �N SALE. B�neficiary may, at its option, declare the entir� balance of the Secured D�bt t� k�� mmediately due and payable upon th� creation of, or cflntract for the �reatian vf, a transfer vr safe�f all vr any part af the Property. This ri�h� is subject t�the �estrictions impt�sed �y federa! iaw ��2 �.F,R. �9��, as applicable. 8. I�EFAULT. Trustor w�ll be in default if any vf the fa�lawing �ccur; Fraud. Any�ansumer Borrower engages in f'raud or rnate��a� misrepresentation in canne�t��n with the Secured D�ht that is an open end h�me equtty p1an. Paym�nts. Any�onsumer Borrower �n any Secured Debt that is an open �nd home equity p�an fa+ls to make a payment when due. Praperty. Any action or inaction �y the Borrower or Trustor occurs that ad�ersely affects the Property ❑r Beneficiary's rights in the Prvperty. This inCludes, but is not limited to, the f�llawing: �a) Trustor fails tv maintain requir�d insuran�e on the Pr�perty; �b} Trustor transfers the Pr�p�rty: �� Trustor cammits waste ❑r atherwise d�structi�e�y uses ar fails to mainta�n the Property such that the activn or inactivn ad�ersely affects Ben�ficiary's security; �d} Trustor fa�ls to pay taxes �n the Property or atherwise fails ta act and thereby causes a lien t� be filed against the Property that is senior to the lien vf this S��urity Instrument; (e} a sole Trustar dies; (f} if more than �ne Trustar, any Trustar dies and Beneficiary's security is ad�ersely affected; {g} the Property is taken thr�ugh erninent domain: �h} a judgment is filed against Trustor and subjects Trustar and the Praperty tfl activn that ad�ersely affects Benefic�ary's inter�st; Qr �i} a prior iienholder fareclases vn the P�operty and as a �esuEt, Beneficiary's inter�st is ad�erseEy affect�d. Execut�ve t]fficers. Any Borrower is an executi�e officer of genefi�iary or an affiliate and such Barrawer hecvrnes indebted t❑ Beneficiary or anvther lender in an aggr�gate amount greater than th� amount permitted under federa� �aws and regulatians. 9. REMEDIES �N DEFAilLT. In additi�n t� any ather r�medy a�ailable under the terms of this 5ecurity Instrument, Beneficiary may accelerate the Secur��i Debt and fvreclose thrs S�curity Instrument in a mann�r � {page 4 vf 7} * � _1994 Walters F{iuwer Financial Ser►�ices-Bankers 5ysterns Fvrm IJSBQCP-�T-NE 1"f 11 filZ�"I�