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2� 1 ��78 S. D�FAULT. Trustor will b��n default if any of the fallflwYng occur: Fraud. Any Consum�r Borrower engages in fraud or mater�a�. misrepresentation xn connectian wi�h the Secured Debt that xs an�pen end home equity plan. Payments. Any Consumer Barrawer on any Secured Debt that �s an apen end home equity plan faiis to make a payment when due. Proper�y. Any actian or inaGtion by the Borr�wer ar Trustor occurs tha� adversely affects the Pragerty or B�neficiary's rights in the Property. This includes, but is no� lirx�ited to, the fo�lowing: �a} Trustor faiXs ta maintain required insurance on the Praperty; �b} Trustor transfers �he Property; �c} Trustor cQmmxts was�e or a�herwise des�ru�ti��ly uses ar fails to main�ain the Property such tha� the actian or inaction adversely affects Benef�ciary's security; �d} Trus�ar fails to pay �ax�s on the Prapear�y �r atherwise fails to act and thereby causes a lien to b� filed against the Praper�y that is senior to the lien of this Securzty �nstrument; �e} a sfli� Trustar dies; �f} if mor�than one Trust�r, any Trustor dies and Beneficiary's security is adversely affect�d; �g}the Property is taken through emYn�nt dama�n; �h} a j udgment is filed against Trustor and sub j ects Trustor and th� Proper�y to ac�ion that adv�rsely affects Benefic�ary's �n�erest; or �i} a priar lienholder forec�oses on the Property and as a result, Beneficiary's interes� is adversely affec�ed. Execut�ve 4ff�cers. Any Borrower is an executive �fficer of B�nefx�iary or an affiliate and such B�rrower becam�s inde�ted ta Benefzciary or another lender in an aggregate amount gr�ater than the amaunt p�rmitte� under federal laws and regulations. 9. REMEDIES �N DEFAULT. �n additian to any other rem�dy a�axlable under the terms nf this Security Ynstrum�nt, Beneficiary may accelerate the Secured I]�bt and fareclos� this Secur�ty �nstrument in a mann�r provided by law if Trustor is xn default. In some instances, federal and state law w��l require Beneficiary to provid� Trus�or with not�ce �f the r�gh� ta �ure, ar ather noti�es and may es�ablish �im� schedules for foreclosur�actian�, Each Trustor reques�s a copy�f any notice of default and any notice of sal�thereunder�e mailed to �ach Trustor at the address pro��ded xn Section I abave. At �he option of Beneficiary, aII or any part of the agreed fees and charges, accrued interest and prxncip� shall hec�me immediately due and paya�Ie, after giving no�xce xf required by 1aw, upon the ac�urren�e af a default ar anyt�me thereaf�er. �f�h�re is a d�fault, Trustee shal�, at the request of Beneficiary, ad�ertise and sell tl�e Praperry as a whale or in separate parcels at pub�ic auction to th� hYghest b�dder for cash and con�ey absolute title fr�� an� �lear of all rxght, title and in�erest of Trus�ar at su�h time and place as Trust�e designates. Trustee sha11 give notice of sale �ncluding the�im�, terms and place of sale and a des�ription of the praperty to be sold as r�quxr�d by the applicabie Ia�v in eff�c�a�the time af the proposed sa��. Upon sa.le of the Praperry and to the extent nat prabibi�ed by law, Trustee sha�I make and d�liver a deed �o the Property snld which cnn�eys absaiut� title ta the purchaser, and after fxr�t pay�n� a.�� fees, charges and casts, shall pay to Beneficiary a11 moneys advanced for repairs, taxes, insuranc�, lxens, assessments and pr�ar encumbrances and in�erest th�reon, and the principa.� and interest on the Secured Debt, paying �h� surpius, if any, to Trustor. Beneficiary may purchase the Property. The re�itaXs xn any deed of con�eyance shall be prima fac�e evidence of the fa�ts set forth therern. The acc�p�ance by B�n�f�c�ary of any sum in payment or partial paym�nfi on the Secured Debt after the balance is due or rs accelerated ar after foreclasure pr��eedings axe filed shal� n�t cons�itu�e a waiver of Beneficiary's right to require c�mplete cure of any exYs�ing defaui�. By nat �xercising any rem�dy on Trustor's default, Beneficiary does not waive Benefi�zary's right to later cansxder the event a default if it happens again. l�. E�PENS�S; ADVANCES �N ��VENANrrS; ATTaRI�IEYS' FEES; C�LLE�TI(]N �a�TS. �f Trustar breaches any �ovenan� �n �his Security �n�trument, Trustor agre�s to pay alI e�pens�s Bene�c�ary �ncurs in performing su�h covenants �r protecting its s�curity interest in the Property. Such expenses incXude, but ar� no� �imi�ed �o, fees xncurred for inspect�ng, pres�rving, or o�herwise pratecting th� Property and Seneficia.ry's security �nterest. These exp�nses are payable on demand and will bear in�erest fram�he date of payment until paid in full at the highest rate of interest in eff��t as provided in the terms of�he Secured Debt. Trustor agr�es �a pay aII costs and expenses incurred by Beneficiary in collecting, enforcing or prate��ing Beneficiary's r�ghts and r�medxes under this S�curity Instrument. This amaunt may include, but is nat �xmited to, Tru��ee's fees, court costs, and flth�r l�gal expenses. To �he e�tent perm�tted by the United States Bankruptcy �ade, Trustor agrees ta pay �he reasona�Xe at�orneys' fees Senefic�ary xn�urs to callect th� S��ured Debt as av�arded �y any court exer�xsing jurisdiction under the Bankruptcy �ade. This Security Instrument shall remau�. in effect unt�l r�l�ased. Trus�ar agrees to pay for any re�ordat�an costs af such r�lease. Se�urity Instrument-�pen-End-Ctinsumer-N� ❑CF-R�DT-NE 7121��1 1 VMPC7�ankers Systems'r"� VMP-C4S5{N�} [1�p7).00 Walters Kluwer Financial Ser�ic�s��994,201 1 Page 4 Qf 6