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2� 1 �� 1975 S, DEFAUI�T. Trustar wi��be in defau�t if any of the f�I��wing occur: Fraud. Any �onsumer Bflnower engages in fraud �r materia� misrepresentation in connectifln with the Secured De�t that is an open end home equity plan. Payments. Any Consumer Borrawer on any Secured Deht that is an tipen�nd hame�quity pian fails to make a p ayment when due. Property. Any action or xnaction by �he Bonower or Trustor ac�urs that adversely affects th� Proper�y or Sen�fYc�ary's rights �n the Property. Thi� zn�lud�s, but is n�t Ximited ta, �he following: (a� Trustor fails to maxntain r�qu�red insuranc�an �h� Pr�perty; �b} Trustor transf�rs the Property; �c} Trustor commits wast� �r otherw�se destruct��eXy uses ar fa.ils to maintain�he Property such that th�action or inaction adversely affec�s Beneficiary's s�curi�y; (d} Trus�or fai�s t� pay tax�s on the Prope�r-ty nr �therwYse fa.xls �a act an� thereby causes a Iien ta be filed against the Property that is senxor to the lien of thxs Security �nstr�umenta ��} a sole Trustor dies; �f� zf more than ane Trustor, any Trustor dies and Beneficiary's security is advers�ly affected; (g��he Proper�y is �aken thraugh em�n�nt doma�n; th} a judgment is filed against Trustar and su�jec�s Trustor and the Property to action that ad�ersely affects Beneficiary's interest; or �i} a prior Xienholder forecloses on th�Proper�y and as a result, Bene�ciary's in�erest is ad�ersely affected. Execut�ve Officers. Any B�rrower zs an e�e�utzw� officer of S�neficiary ar an affil�ate and such Borrower becomes �ndebted ta Benefic�ary or another lender in an aggregate amaunt grea�er�han the amount permit�ed under federallaws and regul atxans. 9. REMEDIES �N DEFAL�LT. In addition to any other remedy available under �he terms of this S�curity Instrument, B�neficiary may a�celerate the Secured D�bt and forec�ose this Security Instrument in a manner pro�ided by law xf Trustor is �n default. �n same �ns�ances, federal and state law wi�l require Beneficiary to provide Trustor wYth no�ice of the right �a cure, ar ather notic�s and may es�ablish time sch�dules for foreclosure actions. Each Trus�or requ�s�s a copy of any no�ice af default and any notice of sale thereunder be mailed to each Trustor at�he address pro�ided xn Section � above. At the op�ion of B�nef�ciary, a�l or any part of the agreed fees and charges, accrued interest and principax sha.lX become �mmediate�y du� and paya�le, af�er givxng notice �f requ�red by law, upon the occurr�n�e of a default or anyt�me thereafter. If�here is a default, Trustee sha.�l, at the request af Ben�ficiary, ad�ertise and sell the Property as a whale ar in separate paxce�s at publzc auc�ion to th� h�ghest bxdder far cash and can�ey absolute tit�e free and clear af a11 right, t��Ie and�nterest of Trustar a� such txme and p�ace as Trus�ee designates. Trustee shal� give notice of sale �n�lud�ng the time, t�rms and place af sale and a descriptian of the property ta be sold as required by the app��cable�aw in�ffec� at th�txme of the proposed sale. Upon sale of�he Property and�o �he extent no� prahib�ted by law, Trustee sha1� make and deliver a deed t� the Propexrty sold which conveys absolute title to the purchaser, and after first paying aI� fees, charges and costs, sha.l�pay to Beneficiary a.i�m�neys advanced for r�pairs, tax�s, insurance, Iiens, assessment� and prior encumbrances and interest thereon, and�he princ�pa� and interest an the Secured Deb�, paying th� surpius, Yf any, to Trus��r. Benef�ciary may purchase �a.e Property. Th� rec�tals in any deed af canv�yance sha1l be prima facie evidenc�of the facts set forth therein. The acceptance by Benef�ciary of any sum in payment or partial. paymen� an the Secured Debt aft�r the ba.lance �s due or is accelerated or after fareclosure praceed�ngs are filed sha11 not canstitu.te a waiv�r of Benefxciary's rzght �a require camp�ete �ure of any exist�ng default. By not exercisin� any remedy an Trustar's default, Beneficiary does not wai�e Benef�ciary"s righ� to �ater �onsider the event a defaui� if �t happens again, lU. EXPENSES; ADVANCES QN C�VENANTS; ATT�RNEYS' FEES; ��LLEC'I'IC]N ��STS. If Trus�ar brea�hes any c�venant in �his S��ur��y Instrument, Trust�r agrees to pay all expenses Beneficiary in�urs �n performing such covenants ar prot�cting its secur�ty interest in th� Prap�rty. Su�h expenses inc�ude, but ar� not 1�mit�d to, fees i.ncurr�d far inspecting, pr�serving, or atherwise prot�ctin� the Proper�y and Benefic�ary's secur�ty Xnterest. These expenses are payable on demand and Will �eax in�erest from the date af payment untYl pazd in full at�h�highest rate of interest �n effe�t as pro��ded in the terms of the�ecured De��. Trustor agrees ta pay aII casts and exp�nses incurred by Benefxciary in co�xecting, enfarcing flr protecting Ben�ficiary's rights and remed�es under this SeGurity Instrument. This amau.nt may in�Iude, but xs nat Iim�ted to, Trustee's fe�s, court casts, and oth�r legal expenses. To the extent permitted �y the tTnited States Bankruptcy �ode, Trustor agrees to pay the reasanabl� at�orneys' fees Beneficiary incurs ta caliect the Secured Debt as awarded by any court exercis�ng jur�sdi�tion under the Bankruptcy �ode. This Security Instrumen� sha11 remain in effect untii rel�ased. Trustor agrees to pay far any recordation costs af such release. Se�urity Instrument-�pen-End-Cvnsumer-NE �CP-R�DT-NE 7121Z0'11 VMPC�Banicers Systems� VMP-C465tNEy �1 107},p❑ Walters Kfuwer Financial Ser�ices��994,201� Page 4 a#�