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2� 1 �� 1 �7� $. DEFAULT. Trustor will l�e in defau�t if any ❑f the fal��wing occur; Fraud. Any Consumer Borr�wer engages in fraud or ma�er�al misr�pres�ntation �n c�nnection with the Secured D�b�that is an open�nd home equity plan. Paym�nts. Any Cansumer Borrower an any Secured Debt that is an apen end home equity p�an fails to ma1�� a paym�nt when due. Prvperty, Any action or inaction by the Borrower or Trus�or ❑ccurs tha� ad�ers�iy affects the Proper�y ar Beneficiary's rights in the Property. This inc�udes, but is nat limited �o, the f��lowing: �a} Trustar fai�s to maintain required znsuran�e on the Prop�r�y; �b} Trus�ar transfers the Praperty; �c} Trustar commit5 wast� or otherwise destructi�ely uses �r fai�s ta maintain the Proper�y such that the action or inac�ian ad�erse�y affects Beneficiary's se�urity; td} Trustar fails to pay taxes an the Property ar atherwise fail� t� act and thereby causes a lien to be filed against the Property that is senior ta the lien af this Security Instrument; �e} a sole Trustor dies; �f} if m�re than one Trustor, any Trustar dies and Beneficiary's security is adversely affected; �g} the Property is taken�hrough eminent domain; �h} a j udgment is fil�d against Trustor and subj ects Trustar and the Praperty to a��ion that ad�ersely affects B�ne�ciary's interest; �r (i� a prior 1�enhalder for�closes an the Property and as a result, Beneficiary's interest is ad�ersely aff�cted. Executi�e (]ff�cers, Any Borrower is an executive officer �f Beneficiary or an affiliat� and su�h Barrower becam�s indeb�ed to Beneficiary or annther lender in an aggregate amount greater than the amount permitted under f�deral laws and regulations. 9. R.EMEDIES �N DEFAULT, Yn addition to any other r�medy available und�r �he �erms of this Security 7nstrument, Beneficiary may accelerate the 5ecured Debt and fareclose this Security �n�trument in a manner pravided by law if Trustor �s in d�fault. �n same instances, federal and state law wi�l require Ben�fi�iary to pra�ide Trustar wi�h nat�ce nf �he right ta cure, or other nvtices and may estab�ish tim� schedule� for fareclo5ure actions. Each Trust�r requests a capy of any no�ice of default and any notice of sate thereunder b� mailed to each Trust�r at the address pro�ided in Sec�ion � abo�e. At the optian of ��neficiary, all or any part of th� agreed fees ax�d �harges, accrued intere�t and principal shall �ecome imm�diately due and payable, after giwing natice �f r�quired by law, upan the accurrence af a default ar anytime thereaft�r. If there is a default, Trustee shall, aC the request af Benefic�ary, advertise and sell the Property as a whole or in separa�� parce�s at pub�ic auctzon to the highest bidder far cash and c�n�ey absolut� title free and clear of a11 ri�ht, titl� and interest of Trustor at such time and plac� as Trustee de5ignates. Truste�shall give notice of sale in��uding the time, terms and place of sale and a descr�ption�f the prop�r�y to be sold as requir�d by the applicable law in effect at the tim�of the proposed sa1e. Upan sale �f�he Property and to the extent nat pr�h�b�ted by law, Trustee shall mak� and d�li�er a deed to Che Property so�d which canveys absalute title ta the purchaser, and after firs� paying all fees, charg�s an� costs, sha�l pay ta Beneficiary a11 maneys advanced for repairs, ta�ces, insurance, liens, ass�ssmen�s and prior en�umbrances and interest thereon, and the principal and interest on th� Se�ured Debt, paying �h� surplus, if any, to Trustor. Beneficiary may purchase the Property. The recitals in any d��d �f conveyan�e shall be prima facie e�idence af the facts set fflr�h�herein. The acceptance by Beneficiary of any sum in payment or partial payment on th� Secured I]ebt after the balance is due or is accelerat�d or af�er f�reclosure prace�dings are filed shall na� canstitute a waiver ❑f Beneficiary's right to require �omp�ete �ure of any �xisting default. By not ex�rcising any reme�y �n Trust�r's default, Benefi�iary d�es nat waive Beneficiary's right to �at�r consid�r the event a default if it happens again. lU. E�PENSES; ADVANCES �N C�VENANTS; ATTURNEYS' FEES; �ULLECTIQN �4STS. If Trustor breaches any cn�enant in this Security Ins�rumen�, Trustvr agrees ta pay all �xpens�s Benefi�iary in�urs in performing such co�enants or protecting its security inter�st in th� Property. Such expenses inclu�e, but are nvt limited to, f��s incurred f�r insp�cting, preserving, or otherwise pra�ecting the Pr�perty and Beneficiary's security interes�. These expenses are payable �n demand a.nd will bear int�rest fr�m �he date of payment un�il paid in full at th� highes� rate of inter�st in effeCt as pravided in�he terms�f the Se�ured Debt. Trus�or agrees to pay all casts and expenses incurred by Ben�ficiary in coliect�ng, enforcing or pratecting Ben�ficiary's rights and remedies under this S�curity InstrumenC. This amaunt may include, but �s not lim�ted to, Trus�ee's fees, court costs, and other 1�ga1 �xpenses. Ta the extent permitt�d by the United States Bankruptcy �ode, Trustor agr�es to pay the r�asonable att�rneys' fees Ben�fi�iary incurs C� collec� the 5ecur�� Debt as awarde� by any court exercising jurisdiction und�r the Bankruptcy Code. This Security �nstrumen� shall remain in effect untiil released. Trustor agrees to pay fc�r any recordation costs of such release. 5ecurity Instrument-C3pen-End-Cvnsumer-N� 4CP-REDT-N� 7'1212Q 1 1 VMPC�6ankers SystemszN' VMP-C465(NE) i1107y.0� Wplters Kluwer�inancial 5er�ices�1994,2fl11 Page 4❑#fi