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2� 1 ��85�2 <br /> S. DE�AULT. Trustor wi11 be in default if any of the following occur: <br /> Fraud. Any Consumer Borrower engages �n fraud or material misrepresentatian in �onnection with the <br /> Secured Debt that xs an open end hame equ�ty p�an. <br /> Payments. Any �onsumer Barrawer on any �ecured Debt�hat is an open end home equity plan fails to mak� <br /> a paym�nt when due. <br /> Pro��rty. Any action or inaction by the Borrower ar Trustor occurs tha� ad�ersely affects �he Prop�rty or <br /> Benefxc�ary's rights �n �he Praperry. This �ncludes, but i� not limi�ed to, the fallowxng: �a} Trustor faxls ta <br /> maznta�n requirec� insurance on the Property; ��} Trustor transf�rs the Praper�y; �c} Trus�ar commits was�e or <br /> otherwise destructxve�y uses or fails ta maintain the Proper�y suGh that �he ac�ian or inaction adverseZy affec�s <br /> Beneficiary's security; �d} Trustor fails to pay taxes an the Prop�rty ar athervwise faixs to act and thereby <br /> causes a lien �o be filed agarnst the Property tha� is senior to the li�n of th�s Se�urity Instrument; �e} a sale <br /> Trustor dies; �f} if more than one Trustar, any Trustor dies and Beneficiary's securxty is adversely affected; <br /> �g}the Property is taken thraugh em�nen� domain; �h} a judgm�nt is fil�d agarnst Trustor and subjects Trustflr <br /> and�he Property ta actian that adversely affec�s Beneficiary's interest; or �i} a prior Iienholder forecloses on <br /> the Property and as a result, Senefici�ry's interest is adversely affected. <br /> Ex��uti�� �ff�cers. Any Borrawer is an execu�i�e officer of Beneficiary ar an affiliate and such Barrower <br /> �ecomes inde�ted ta Beneficiary ar another lender zn an aggregate amount greater than the amount p�rmitted <br /> under federal laws and regulations. <br /> 9. REMEDIES QN` DEFAi3�T. �n addi�xon �� any other remedy availa�ie under the t�rms of this Security <br /> �nstrument, Beneficiary may accelerate the Secured Debt and foreclose this 5ecuri�y Znstrument in a manner <br /> prflvxded by law if Trustor is in d�fauit. In same �nstan��s, federa� and state law w��� requir� Ben�ficiary ta <br /> pro�rde Trus�or with natice af the right to cur�, or ather no�ices and may establish time schedules for <br /> foreclosure actions. Each Trustar requests a copy af any natxce of d�fault and any natice of sal�thereunder be <br /> mailed�o each Trustor at the address provided in Sec�ian 1 abo�e. <br /> At �he aption af Beneficiary, all or any part of the agreed f�es and charges, accrued interest and princYpal <br /> �halX �become immec�ia�e�y due and payable, af�er gi�ing noti�e if required by Iaw, upon the accurrence �f a <br /> defaul�or anytime thereaf�er. <br /> If th�re �s a defau�t, Trustee sha11, at th�request of Senefi�iary, ad�ertxse and sell the Proper�y as a whole ar <br /> �n separat� parcels at publ�c auct�on to �he highest ��dder for cash and convey absoiute titl� free and clear af <br /> a11 right, tit�e and �nt�rest of Trustar at such tim� and place as Trust��designa�es. Trustee shall g��e notice�f <br /> sa�e including the tim�, terms and place of sal� and a descript�an of the proper�y to be sold as requ�red�y the <br /> app�icab�e�aw in�ffect at the time of the prop�s�d sa�e. <br /> CJpan sa.�e of the Property and to the ex�ent not prohibited by law, Trustee sha�1 mai�e and deli�er a de�d to <br /> the Praperty so�d wh�ch conv�ys a�so�ute title ta the purchaser, and after firs� paying aII fees, charges and <br /> cnsts, shal.l pay to Benef�ciary aIl maneys ad�anced for repairs, �axes, znsurance, liens, assessments and prror <br /> en�umbrances and �nterest thereon, and the principal and interest on the Secured Debt, paying the surp�us, if <br /> any, to Trustor. Beneficiary may purchase the Praperty. The recitals in any deed �f canveyance shall be <br /> prima facie evidence of the facts set forth therein. <br /> The acceptance by Seneficxary of any sum in payment or partial payment on the Secured Debt after the <br /> balance is due or is acce�era�ed �r after fareclosure proceedings are fiied shall not constxtu�e a waiv�r of <br /> Beneficiary's right to requYre camp�e�e cure of any exis�ing defaux�. By not exercising any remedy on <br /> Trustar's default, Beneficiary does nat waav� Senef�ciary's right to Iater consider the e�ent a default if it <br /> happens again. <br /> 1U. E�PENSES; AI]VANCES �N C�VENANTS; ATT�RNEYS' FEES; C4LLE�TI�N �QSTS. If <br /> Trus�or breaches any cavenant in this Securi�y rnstrument, Trus�ar agrees ta pay ali e�penses Beneficiary <br /> incur� �n p�rforming such Govenants or protecting its secur�ty interest in the Property. Such expenses �n�lude, <br /> but are not limited to, fees xncurred far inspecting, pres�rv�rng, ar otherw�se pro�ecting th� Property and <br /> Beneficiary's security interest. Thes� expenses are payable fln d�mand and wil� bear interest fr�m the date af <br /> paym�nt until paid in fu11 at the h�ghest rat�of interest in eff��� as pro�id�d in the tenms of the Secured D�bt. <br /> Trustar agrees t� pay al� costs and e�penses incurred by Ben�ficxar� in ca��ecting, enforc�n� or protec�ing <br /> Seneficiary's rights and remedies under this Securi�y Znstrument. This amnunt may include, �ut is nat limxted <br /> to, Trustee's fees, caurt costs, and other l�gal �xpenses. To the extent permit�ed �y the Uni�ed States <br /> Bankrupt�y Code, Trustor agrees �a pay �he reasonable attarneys' fees Beneficiary incurs to �ollect the <br /> Secured Debt as awarded by any court exerc�s�n� jurisdicti�n under �he Bankrup�cy �ode. This S�Curity <br /> Instrument shall remain in effect until released. Trus�ar agrees �a pay for any re�ordation costs af such <br /> release. <br /> Security Instrument-Qp�n-End-Cansumer�N� �CP-R��T-N� 71�12Q1 7 <br /> VMP�Bar�kers SystemsTa" VMP-C465�NE} (�107y.0a <br /> Walters Kluwer Financiaf 5er�ices D1994,201� E'age 4 af fi <br />