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2� 1 ��891 S. DEFAITLT. �'rustor wi.l�be in default if an.y of the following occur: Fraud, Any C�nsumer Borrower engages in frauc� or mater�al misrepr�sentation in connec�ion with �he 5ecured Debt that is an open end home equity plan. Payments. Any �ansumer Borrav5rer�n any Secured De��that is an apen end home equity plan faiis to make a p aymen�when due. Property. Any action or inaction by the Borrower ar Trustor accurs that adversely aff��ts �he Property or Beneficiary's righ�s in th� Property. This �ncludes, but �s nat limited ta, the fo��owing: �a} Trustor fails to maintain required insuran�e on�he Propexrty; (b� Trustflr transfers the Praper�y; �c� Trus�or commits was�e or otherwise destructxvely uses or fails�o maxntain�he Properry such tha��he ac�ian or inactian ad�ersely aff�cts Beneficiary's security; (d} Trustor fails to pay �axes on the Proper�y or otherwise fails �o act and thereby causes a �ien to be frled agaa.nst the Praperty that is senior to the lien af�his 5ecurity �nstrumen�; �e} a so1� Trustor dies; ��} if more than one Trustor, any Trustor di�s and Beneficiary's security is advers�ly affec�ed; �g��he Property is taken through eminent domain; �a.} a�udgment is filed against Trustor and sub�ects Tru.stor and the Praperty ta actxan tha� adverseiy affec�s Benef�ciary's interest; or �i} a prior lxenhoider f�recloses on the Property and as a resuit, �eneficiary's in�erest is adversely affected. Exe�utive �ffi�ers. Any Bonow�r �s an executi�e affic�r af Benefi�iary or an aff�lxate and such Barrower becomes �nd�bt�d to Bene��iary or another xender in an aggregate amflunt greater than,the amount permit�ed under f�deral Iaws and regula�i�ns. 9. REMEDIES �N DEFAULT. �n add�t�fln to an.y ather remedy a�a.�lable under th� terms of this Se�urity �ns�rument, Beneficiary may accelerate th� Secur�d Debt and foreclose �his Secur��y Instrument in a manner provid�d by Iaw if Trust�r is in defau�t. In some instances, federal and state Iavv vvi�l require Beneficiary to provide Trus�ar v�rith nnt�ce of �he right ta cure, ar nther notices and may establish time schedules for fareciosure a�tions. Each Trustor requests a copy af any notice of default and any not�ce of sale th�reunder be ma�Ied�o each Trustor at the address pro�ided in Sec��on 1 above. At the option of Beneficxary, aII or any part of the agreed fees and charg�s, accrued in�erest and principal sha.�I become immediat��y due and payabie, after giv�ng natice if required by law, upon the occurr�n�e of a default or anytime thereafter. If there is a default, Trustee sha.11, at the request of Beneficiary, adv�rtis� and sell the Property as a who�e ar in separate parcels at pu�l�c auction to the highes�bidder far cash and canvey ab�alute title fr�e and clear of a.�l right, title and xnterest of Trustor at such time and piace as Truste�d�s�gnates. Trustee sh�I gi�re natice of sale znc�ud�ng the time, terms and place af sale and a descri��ion flf the prQperty �a be so�d as required by�he applicable law in effect at the tim�of the prapased sale. Upon sale of the Property and to the exten� n�t prohibited b� law, Trust�� shall make and deliver a deed to the Propex-�y sold which con�eys absa�ute ti��e to the purchaser, and after first paying a�l fees, charges and costs, shall.pay �a Benefi�iary aIl moneys ad�anced far repairs, taxes, insuran�e, Iiens, assessments and prior encum�rances and rnterest thereon, and�he principal and int�res� an�he Secured Debt, pay�ng th�surplus, if any, to Trustor. Beneficiary may purchase �he Properfiy. Th� recitals in any deed of canv�yance shall l�e prima facie evi�i�nce af th�facts se�forth therein. The acceptance by Beneficiary of any sum in payment or partial payment on the Secured Debt after the balan�� s due or �s acce�era�ed ar after foreciosur� proceed�n.�s are filed sha11 not cons�itute a waiver af Benefzciary's right to requir� complete cure of any existing d�fault. By not exer��sYng any remedy on Trust�r's defaul�, Beneficiary do�s nnt waive Beneficiary's righ� �0 1at�r �flns�d�r the �ven� a default if it happens again. l�. �XPEN'SES; AI�VANCES �N C�V�NANTS; ATT[)laNEYS' FEES; ��LLECTI�N C�STS. If Trustor breaches an� covenant in th�s Security Instrumen�, Trustor agrees ta pay a�l �xpenses Beneficiary incurs in performing such covenants❑r protecting its security interest in the Property. Such expenses �nc�ude, but are not iimited ta, fees incurr�d for inspec�ing, preser�ing, vr otherwise protecting �he Property and B�neficiary's secur�ty inter�st. These exp�ns�s are payab�� on demand and will bear interest from�he date of payment un�i�paid in fu�� at the h�ghest rate of interes�in effect as provided in�he terms of th�Secured �]ebt. Trustar agrees tn pay all costs and expenses �.ncurred by Beneficiary in callecting, enforcing or protecting Beneficiary's rights an.d remed�es under this 5ecurity �nstrument. Th�s amaun�may�nclude, but is not Iimited to, Trustee's f�es, court costs, and other ��gal e�penses. To the exten� permitted by the United �ta�es Bankrupt�y C�de, Trustar agrees to pay the reasonab�e at�arneys' f�es Beneficiary incurs to �o�lec� the Secured Debt as awarded by any cour� exercising jurisdiction under the Bankruptcy �ode. This Security 7nstrum�nt shal� remain in effect u.ntil released. Trustor agrees to pay for any recordat�on casts of such release. 5ecurity fns#rument-�pen-End-Car�sumer-NE DCP-R�DT-NE 712120�1 VMP�Bank�rs Systems7"' VMP-C4fi5tN�y �1 107}.OQ Wa{ters Kluwer Financial S�r�i�es C�7�994,2��1 Page 4 vf 6