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2� 15�7938
<br /> � $. DEFAULT. Trustor wi11 be in defaul� �f any�f�he following occur:
<br /> Fraud. Any �ansumer B�rrower enga�es in fraud ar material misrepresentation in connection with the
<br /> �ecured Debt that is an apen end home equity p�an,
<br /> Payments. Any �onsumer Borrower on any Secured I3�bt that i� an apen end home equity pian fai�s to make
<br /> a payment when due. �
<br /> Property. Any action or inactian by the Borrower ar Trust�r occurs that adversely affects the Property or
<br /> BenefiCzary's ri�hts in the Praperty, This inclu�l�s, but is nat limited to, the follawing: (a} Trustor fa�ls ta
<br /> maintain required insurance on the Property; �b} Trustar transf�rs th� Property; (c} Trustor commits waste Qr
<br /> atherwise destru�t�v�ly uses or fails to maintain the �'roperty such that the action or inaGtion adv�rsely affects
<br /> Beneficiary's se�urity; �d} Trus�ar fails to pay taxes on the Property or otherwise fails ta ac� an� th�r�by
<br /> causes a 1i�n t� b� filed against the Property that is senior to the lien �f this Security �nstrumen�; �e� a sol�
<br /> Trustar dies; �f} if more Chan one Trustor, any Trustor di�s and Beneficiary's securi�y is adversely affected;
<br /> �g} the Proper�y is taken�hrough emin�nt domain; ��} a judgment is filed against Trustflr and subjects Trustar
<br /> and the Property t� action that ad�er5�ly affects B�n�fi�iary's interest; or (i} a prior lienholder forecloses on
<br /> the Property and as a result, Benefi��ary's inCerest is ad�ersely affect�d.
<br /> Executive []fficers. Any Barrower is an executi�e officer of Beneficiary or an affiliat� and such Borrawer
<br /> becames indebt�d t� Beneficiary or another lender in an aggregate amount greater than the amount permitted
<br /> under f�deral laws and regulations.
<br /> 9. REMEDIES �N DEFAULT, In addition ta any o�her remedy a�ailable under the terms of this Securi�y
<br /> Instrum�nt, Benef�ciary may accelerate th� Secur�d Debt and fareclose this Security Instrument in a manner
<br /> pr��ided by law if Trustor is in default. In sam� in�tanc�s, federa� and �tat� law �vill require �eneficiary t�
<br /> pro�ide Trustor with notice of the right �o �ure, ar a�her nati�es and may �stabl ish tim� schedules for
<br /> foreclosure actions. Each Trustar re�uests a c�py of any natice af default and any r�otice of sale thereunder be
<br /> mai�ed ta�ach Trustar at the address pr�vided in Section l al�ove.
<br /> At �he opti�n of Beneficiary, a11 or any part af the agreed fees and charges, a�crued interest and principal
<br /> shall become immediately due and payable, after giving notice if requir�d by law, upon the o�currence af a
<br /> defau�t or anytime ther�after.
<br /> �f th�re is a defa�lt, Trustee sha11, at the request of Ben�ficiary, ad�ertise and sel� the Praperty as a whole ar
<br /> in separate parcel5 at publi� auction t❑ the highest bidder far cash and convey abso�ute title free and clear of
<br /> all right, titl� and int�rest of Trustor at such time and place as Trustee designates. Trustee shall gi�e natice of
<br /> sale including the tim�, terms and place af saie and a d�scrip�ion of�he prop�rty to be sol� as required b� the
<br /> applicab�e �aw in effe�t at th� time of�he proposed sal�.
<br /> � Upon sale af the Prop�r�y and to �he extent not prohibited by law, Trus�ee sha11 make and deli�er a deed to
<br /> the Property sold wh�ch Gon�eys absolute title to the purchaser, and after first paying all fees, �harges and
<br /> Gosts, shall pay to Beneficiary all moneys ad�anced far repairs, taxes, �nsurance, liens, asse5sm�nts and prior
<br /> encumbrances and interes�therean, and the principal and interest on th� S�cur�d Debt, paying �he surplus, if
<br /> any, to Trustor, Beneficiary may purchase �he Property. The rec�tals in any deed of can�eyance sha11 �e
<br /> prima facie evidence�f the facts set forth therein.
<br /> '�he acceptance by BenefiGiary of any sum in paym�nt or partial payment on the Se�ux�d Debr aft�r the
<br /> balance is due or is acc�lerated or af�er forec�osur� proc�edings are filed shall not cnnstitute a wa��er af
<br /> Beneficiary's ri�ht to reauir� complete cure of any existing defau�t. By n�t exercising any remedy on
<br /> Trustar's defau��, g�neficiary dae� not waive �eneficia�ry's right to later cansider the e�en� a defaul� if it
<br /> happens again.
<br /> 10, EXPENSES; ADVAN�ES �N` ��VENANTS; A►TT()�TEYS' FEES; C�LLE�TI�N C[�STS. �f
<br /> Trustar br�aches any �ovenant in this Security Instrument, Trus�or agrees to pay all exp�nses Ben�fic�ary
<br /> incurs in p�rforming such co�enants or protecting its se�urity interest in the Property. SuCh exp�nses in�lude,
<br /> but are n�t limited to, fees incurred for inspecting, preser�ving, ar o�herwise pro�ecting the Prop�rty and
<br /> Beneficiary's security interest. These ex�enses are payab�e on demand and will ��ar interest fram the dat� of
<br /> payment until paid in fu11 at�he highe�t rat� ❑f interes� in effect as pro�ided in the �erms ❑f the Secur�� D�bt.
<br /> Trustor agrees �o pay all casts and expens�s incurred by Beneficiary in collecting, enforcing flr prntectin�
<br /> Beneficiary's righ�s an� remedies under rhis Security �nstrument. This amaunt may include, �ut is not limited
<br /> ta, Tru�tee's fees, court costs, and other legal expenses. To �he extent permitted by the United State�
<br /> Bankruptcy �nde, Trust�ar agrees ta pay th� reasonable attorneys' fees Benefi�iary incurs ta Gflll�ct the
<br /> aecured I]ebt as award�d by any �ourt ex�rcising jurisdiction under the Bankruptcy �ode, This 5�curity
<br /> Znstrument sha11 remain in effect untii released. Trustar agrees to pay for any r�carda�ion casts �f such
<br /> release,
<br /> 5ecurity Instrument-�pen-End-Cvnsumer-NE �CP-REUT-NE 71�1241�
<br /> VMF�8ank�rs SystemsT�" VMP-C455�N�� �1 1 Q7},pp
<br /> Wolters Kluwer Financisl Ser�ices(�3�994,2Q�3 Page 4�f 6
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