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2� 1 ��3987 $. DEFAULT. Trustor wil�be rn defaul�if any of the followYng o�cur: Fraud. Any Con�umer Borrawer engages in fraud or mater�al misrepr�sentation in conn�ctxon w��h the Secured Debt�hat is an op�n end haxne equity pian, Payments. Any Consumer Borrower on any Secur�d I]ebt �hat is an apen end home�quity plan fails ta make a payment v�hen du�. Property. Any action or inactian by the Borrower or Trust�r �ccurs that ad�ersely affects the Praperty or' Beneficxary's rights in the Praperty. This includes, but is not �imited to, �he fol�ow�ng: (a} Trustor fails to mainta.�tn required insurance on the Property; (b} Trustar transf�rs the Property; (c} Trustor commits waste or otherwise d�structi�eXy uses or fa�is�o ma�ntain the Praper�y su�h that the ac�ion or inact�on adversely affe�ts Beneficiary's security; �d} Trustor fax�s �a pay taxes an the Pr�perfiy or otherw�se fa�ls �o a�t and thereby causes a li�n to be fi�ed against the Froper�y that is seniar to �he li�n ❑f this Secur�ty Instrument; �e} a sale Trustor dies; �f� if mare �han one Trustor, any Trustor dies and ��nefxcXary's s�cur�ty is adv�rse�y affected; �g�the Proper�y is taken thraugh�minent doma�n; (h} a judgm�nt Ys �l�d against Trustor and subjects Trustor and the Property ta act�on that adverse�y affects Benef�c�ary's interest; or �i} a prior ��enhalder far�cl�ses �n the Property and as a resul�, Beneficiary's interest is ad�ersely affe�ted. Executive Officers. Any Sorrower is an ex�cutx�e officer of Benefxciary or an affiliate �nd such Borrower be�omes indeb�ed �a Beneficiary or ano�her 1end�r in an aggregate am.�un� greater than the amount permitte� under federa� laws and regulations. �. R.EMEDIES �N DEFAULT. In addition to any other remedy a�ai�able under the terms af thYs Secur�ty Instrument, Beneficiary may accelera�e the Secured Debt and foreclase thzs Security Ins�rument in a manner pro�ided by �avv if Trus�or �s �n default. In some instances, federal and state law will requ�r� Beneficiary to pravxde Trustar w��h n�tice of �he right to cur�, or other notic�s and may �stabXish time schedules for farec�osure actions. Each Trustor requests a copy of any notice of default and any notice af saXe ther�under be mailed to each Trustor at the address provided in Section 1 above. At the aptian af Beneficiary, aI.I or any par� of the agreed fees and charges, accrued inter�st and principa� sha11 become immediately due and payable, after gi�ing natxce if required by �a�v, upan �he accurr�n�e of a default ar any�im��h�reafter. �f th�re is a default, Trustee sha�I, at the request of Benefi�iary, ad�ertise and sell the Pra�erty as a vvh�Ie ar in separate parcels at publi� auc�ion ta the highest bidder for cash and canvey a�so�ute title free and cl�ar of a11 right, �it�e and interest af Trustor at su�h t�me and plaCe as Trus�ee designates. Trustee sha1l give noti�e of sale �nciuding the time, terms and p�ace�f sale and a descriptian af�he property to be sald as r�quired by the app�ica��e law in�ff�ct at�he time flf the pr�posed sa�e. Upan sale of the Property and�� he extent not prohibited by 1aw, Trustee sha1� make and deliver a deed ta the Property s�ld which conveys absolute txt�e to the purchaser, and after fxrst paying a�� fees, charges and cos�s, sha11 pay to Beneficiary all moneys advan�ed for repairs, taxes, insurance, Ii�ns, assessments and prior encumbrances and interest therean, and the pr�nc�pal and interest on the Se�ured Del�t, paying the surp�us, if any, to Trustor. Ben�ficiary may purchase �he Prop�rty. The recitals in any d�ed of conveyance shall be prima fa��e�vxden�e of the fa�ts set forth therein. The acceptance by Benefxciary of any sum in payment or partxal payment on the 5ecured D�b� after th� �alance is due or is acce�erated or after farec�osure proceed�ngs ar� fxled shali not cons�itute a waiver of Ben�ficYary's r�ght ta r�qu�re comp�ete cure of any exzst�ng default. By not exerc�sing any remedy on Trustor's default, Benefzczary daes not waave Benefic�ary's rxght ta later cons�der the e�ent a defaul� zf it happens again. . lU. E�PENSES; ADVANCES �N ��VEN'ANTS; ATT�RNEYS' �ES; ��LLEC']�I(]N C��T�. �f Trustor breaches any co�enan� �n �hxs Security instrument, Trustflr agrees tQ pay al� e�penses �eneficiary incurs zn perfarming such covenants or protecting its securxty interest in th� Property. Such expenses include, but are not ��mi�ed ta, fees incurred for inspe�ting, preserving, ar a�herwise protec�ing th� Property and Beneficiary's se�urity inter�st. These expenses are payable on demand and will bear �nterest from the �a�e af payment until paid in fu11 at�he highest rate�f interest �n effect as pra�Yded xn the terms of the S�cured I]ebt. Trustar agrees ta pay a.�l casts and expenses incurred by Beneficiary in callect�ng, enforcing or protec�ing Benef�ciary's rights and remedies under th�s Securi�y Ynstrument. Th�s amount may inciude, but is no� Iimited to, Trustee's fees, court costs, and o�her Iegal expenses. T❑ the extent p�rmitted by the United States Bankruptcy Code, Trustor agrees to pay the reasona��e attorneys' fees Benefic�ary incurs to coliect the Secured De�bt as awarded by any court exercising jurisd�ct�on under the Bankrup�cy �ode. This Secur�ty Znstrument sha1� rema�n in effect unti� released. Trustor agrees to pay for any recordatian cos�s of such release. Security lnstrum�n#-�pen-End-Cansumer-NE oCP-R�oT-NE 7I212o�� VMP4 Bankers 5ystemsT"� VMi'-C4fi5fNE� t1 1�7f.D0 Wvlt�rs Kluwer Finan�ial 5er�ices 01994,201 T Page 4 af�