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<br /> 8. DEFAI�LT. Trustor will be in default if any�f the following occur:
<br /> Fraud. Any C�nsumer Borrower engages in fraud or mat�rial mi5representation in conn�ction with the
<br /> Secured Debt that is an apen end hnm�equity plan.
<br /> Payments. Any C�nsum�r Borrower �n any Se�ured Debt that is an open end home equ�ty plan fails to make
<br /> a payment when due.
<br /> Property. Any action or inaction by the Borrawer or Trustor occurs that ad�ersely affects the Pr�per�y �r
<br /> Benefi�iary'� rights in the Froperty, This includes, but �s n�t limited �a, th� fo��owing: �a} Trustor fai�s to
<br /> maintain requir�d insurance on the Property; {b} �'rustar �ransfer� the Pr�perty; �c} Trustar�ommits was�e ar
<br /> atherwise destru�tively uses or fails ta maintain �he Property such �hat th� action or inaction ad�ersely affect�
<br /> 8�neficiar�'s s��urity; �d� Trustor fails to pay taxes Qn the Property ar atherwise fails to act and thereby
<br /> causes a lien t� b� filed against the Prop�rty that is senior t� the lien of this Security Instrument; �e} a sale
<br /> T'rustor dies; �f} if more than one Trustor, any Trustor dies and Beneficiary's 5ecuri�y is ad�ersely affected;
<br /> �g} the Property is taken through eminent domain; �h) a judgment is filed against Trustar and subjects Trustor
<br /> and the Property to acti�n that adversely affects Beneficiary's interest; ar �i) a prior �ienho�der forecloses on
<br /> the Praper�y and as a result, Beneficiary's interest is ad�ersely affect�d.
<br /> Executi�� �fficers. Any Borrawer is ar� executi�e flfficer of B�neficiary �r an affiliate and such Borrower
<br /> becomes indeb�ed ta B�ne�ciary ar an�ther lender in an aggr�gat� amaunt greater than the amaun� permitted
<br /> under federal �aws and regulations.
<br /> 9. REMEDIES UN DEFAULT, �n additi�n t4 any other r�medy available under the terms �f �his 5�curity
<br /> �nstrument, B�nefxciary may accelerate the S�cured D�bt and foreclose this Security Instrument in a manner
<br /> pro�i�ed by iaw if Trustor is in default. �n same instances, federal and state �aw �vi�l require Beneficiary to
<br /> pra��de Trustor with notice of the right to cure, ar other notices and may establish time schedules far
<br /> forecl�sure actions. Each Trustor requests a copy of any notice of defau�t and any n�tice of sale thereunder be
<br /> ma�led to each Trustor at the address pra�ided in 5ection I abo��,
<br /> At the optian af Beneficiary, a�l or any part of the agreed fe�s and charges, accrued interest and prin�ipal
<br /> shall become immedia�e�y due and payable, after giving no�ice if required by law, upon the occurrence of a
<br /> default or anytime ther�after,
<br /> �f there is a defau��, Trust�e shall, at the request of Seneficiary, adv�rtise and sell �he Prap�rt� as a whole or
<br /> rn separa�e parcels at publi� auction to �he highe�t b�dder far cash and �onv�y absolute tit�e free and �lear of
<br /> a11 right, title and int�rest of Trustflr at su�h time and place as Truste�designates. Trustee shall give notice �f
<br /> sale inc�uding the time, terms and place of sale and a descripti�n af the property to be sold as re�uired by the
<br /> applicable law in eff�ct at the time af th�propose� sa1e,
<br /> Upon sale of the Praperty and to the extent not prohibited by law, Trust�e sha11 make and deli�er a deed to
<br /> the Property sold wh��h �on��ys absolute title tfl the purchaser, and aft�r first paying all f��s, charges and
<br /> costs, shall pay to Beneficiary all maneys ad�anced for repairs, taxes, insurance, liens, assessmen�s and prior
<br /> encumbran�es and interest thereon, and the principa� and int�r�st an the �ecured Debt, pay�ng the surplus, if
<br /> any, t� Trustor. Beneficiary may purchase the Praperty. The recitals in any de�d of c�n�eyance shall be
<br /> prima facie evid�nce af the facts set for�h therein.
<br /> Th� acceptance by Ben�ficiary of any sum in payment ar partial payment on the Secured Debt after the
<br /> balance is due or is accelerated or after fare�losure proceedings are filed sha11 n�t c�nstitute a waiver af
<br /> Beneficiary's righ� to require complere cure of any e�isting default, By not e�cercising any remedy on
<br /> Trustar's default, Beneficiary does not vvai�e Benef��iary's right to later consider th� e�ent a default if it
<br /> happens again,
<br /> lU. E�PENSES; ADVANCES �N C(�VENANTS; ATT�RNEYS' FEES; �(]LLE�TI�N ��STS. If
<br /> Trus�or br�aches any co�enant in this 5ecurity InStrument, Trustor agrees ta pay all �xpen�es B�neficrary
<br /> incurs in performing suc� co�enar�ts or prot�cting its s�curity interest in th� Property. Such expenses inclu�e,
<br /> but are not limited to, fees incurred for inspecting, preser�ing, or ❑th�rw�se protecting the Praperty and
<br /> Beneficiary's security tnter�st. These expenses are payable �n demand and will b�ar ir��erest fr�m the dat� of
<br /> paym�nt until paid in full at�h� highest rate of int�rest in effect as provided in the terms af the Secured L�eb�.
<br /> Trustor a�rees to pay a�l cQsts and expen5es incurred �y B�n�fi�iary in callec�ing, enforcing or protect�ng
<br /> Beneficiary's rights and remedi�s under this Security �nstrument. This am�unt may in�lude, aut is not limited
<br /> ta, Trustee's fees, cour� costs, and other legai expenses. T� �he extent permitted by the U171t�C� Stat�S
<br /> Bankruptcy Code, Trustor agrees ta pay the reasonable att�rneys' f�es B�neficiary incurs to collect the
<br /> Secur�d Debt as awarded by any cour� �xercising jurisdi�ti�n und�r the Bankrupt�y Code. This 5ecurity
<br /> xnstrument shall remain in effe�t until released. Trus�or agrees �o pay for any recordat�on costs af such
<br /> release.
<br /> Security lnstrument-�p�n-End-Cansumer-NE �CP-REDT-N� 7121��1�
<br /> VMPa�ankers Syst�msT"4 VMP-C465�NEy �1 1 a7'�.Q�
<br /> Wolters Kluwer Finar+ciaf Ser�i�es C�]1994,�49� �'age 4 of 6
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