201506329 - Laserfiche WebLink

Browse

��15�63�9 S. DEFAULT. Trustar will be in defaul�if any of th.e fox�owina�ccur: Fr�ud. Any Consumer Borr�wer engages in fraud or ma�erxal. mxsrepresentatian in connection with the Secured Debt that is an open end home equity plan. Paymen�s. Any Consumer Borrower on any Secured D�bt that is an op�n end home�quity plan fails to mak� a p ayment when due. Property. Any action ar inact��n b� the Borrower ar Trustor o�curs �hat ad�ersely affects the Prop�rty or Ben�ficzary's rights in the Property. This includes, bu� is not 1imi��d ta, the fallawing: �a) Trustor fails to maintain required i.nsuran.ce an the Properry; �b} Trustor transfers the Propert�r; �c} Trust�r�omm�ts waste ar otherw�s�d�stz-u.ctzvely uses or fails to maintain the Praperty su�h that th�action or inactian adversely affects Ben�f�c�ary'� security; �d} Trustar fails ta pay taxes an th� Praperty ar oth�rwise fails to act and th.ereby �au��s a li�n ta he fil�d against the Pr�perty that is senior to the Iien of this 5ecurity Instrument; �e} a sole Trustor dies; �f} zf mnre th.an one Trustor, any Trustor d�es and Ben�f�Giary's securzty zs ad�rerseXy �.ff�cted; �g}the Praperfiy zs tal�en�hrough emi�.en�domai.n; (h} a judgm.�nt zs��ed agai.nst Trustar and subjects Trustar and�he Praperty �� a�tion that adv�rsexy affe�ts Benefx��ary's znterest; or��} a pr�or ��enho�der fore�I.os�s on th�Prop�rty and as a re�ult, Beneficiary's znt�rest is adverse�y affected. Executxve �fficers. Any Bvrrawer zs an ex�cutxve officer af Beneficxary or an affilzate and such Borrawer be�ames indebted t� Beneficiary or anQther Iender zn an aggregate amaunt gr�ater than th�amount p�rm�tted untier fed�ral Iaws and reguiat�ons. 9. REM��IES �l� DEFAULT. In ad�ition ta any other remedy a�ailabl� under the terms of thxs Secuxity Instrument, Benefxciary may accelerate the Secure�l Debt and forec�os�this �ecuri�y Instrument in� a manner provided by Iaw zf Trustor is in defaul�. �n same instan.�es, fed�ral. and stat�law will require Beneficiary to provide Trustor �vith not�ce of the righ� �o cure, or other not�ces and may estab�xsh time schedul�s for far��losure a�t��ns. Each Trustar requ�sts a c�py af any natice of defau�t and an.y natzce of sa�e thereunder�e maa.X�d to�ach Trustor at the address provided in 5�ction 1 above. At the optian nf B�n�ficiary, aII or any part af th� agreed f��s and charges, a��ru�d Xnterest and przncxpal. sha�I became imm�dxateXy due and pa�able, after giving noti�e �f requ�r�d by �aw, upon the occurrence of a default ar anytime th�r�after. Zf there is a defauit, Trustee sha11, at the request of Benefi.czary, advertxse and sell the Prop�rty as a vvhoie or zn separate parc�Is at public au�tzon to the highest bidder for cash and conv�y absal.ute titx�free and clear of all right, t�tle an.d�nterest�f Trustor at such t�me and place as Trustee d�signates. Trust��shal.� g�ve not�ce of sale including the time, terms and place af sale and a d�s�riptxan�f the praperty to be sold as requ�red by the applicab�e�aw zn effect at the time of the propnsed sale. Llpan sale of�he Prap�rty and�a the extent nat prahibit�d by Iaw, Trustee sha11 make and �i�lr�er a deed to �he Pr�perty sold �vhzch conve�s absolute tzt�e ta the purchaser, and after fzrst paying al� fees, charges and �osts, shal.�pay ta Benefi��ary al.l maneys ad�an�ed far repa�rs, taxes, insuranc�, ��ns, assessments and prior �ncumbrances and interest thereon, and the principal a.x�d�nteres�❑n the Secured Debt, pay�ng the surplus, if an�, to Trustor. Bene��iary may purchas� the Properry. The re�itals in any deed of cQnveyance shall be pr�ma facie evic�ence of the facts set forth therei.n.. The aC��3�aI1C� �7y BeIl�fICi� of any sum 7n payment or part�al. pa�ment �n the Secured D�bt after the �alance is due or zs accelerated or after f�reclosure pra�eedin.gs are fi�ed shall not constxtute a wai��r af Ben�ficiary's right tt� require camplete cure of any existi,n.g defau.It. By not ex�r�zsin� any remedy on Trustor's default, Ben�fzczary d�es nat yvazv� B�nefi�iary's right to �ater cansider the e�ent a default Yf it happ�ns again. 1�. E�ENSES; ADVANCES �l`T C�VENANTS; ATT�RI�TEYS' FEES; C�LLE�TI�N C�STS. �f Trustar br�aches any co�enant xn this Security �nstrument, Trustar agrees to pay aII expenses Benefzciary i�ncurs in p�rforming such covenants ar prot��ting its secur�ty interest in the Propexrty. Such expense� in�Iude, but ar� nat lunited to, fees zncurred for �spectzng, preserving, ar otherwise pratecting the Propezrty and Beneficiary's securit�r interest. Thes�expenses are payabXe an demand and wil�hear int�rest from th�dat�of pa�ment unt�l pai.d in full at the highest rate of interest xn effe�t as pro��ded zn the t�rms of the 5ecured Deb�. Trustor agrees to pay aii costs and expens�s incurred by Benefxciaxy in colle��.ng, enforcing ar pratecting Beneficiary's rights and remedies under this Se�urxt��nstrument. Thzs amount may xn�lude, but is nat�rmited ta, Trust�e's fees, caurt �osts, and oth�r Iegal e�penses. TQ the extent germztt�d by the Unz�ed States Bankruptcy Code, Trustor agr�es to pay the reasonab�� attorneys' fe�s B�n�ficiary in.curs �o co��ec� the S�cured Debt as awarded by any court ex�rcising jurisdiction under the Bankruptcy Cod�. This Se�urit� Instzument shal.� remain xn effect until released. TrusCor agre�s to pay f�r any recardation �osts af such re�ease. Security lnstrur�ne�t-�pen-�n�-Cons�mer-NE OCP-REI7T-NE 7I2120�� VNPD 6ankers 5ystemsT"� VMP-C465tNE} R��p7}.�� Walters Kluw�r Financial Ser�ices�'1994,201 1 Pags 4 af 5