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2� 1 ��85�4 <br /> S. D��'AULT, Trustor wi�I be in defau�� if any of the following�ccur: . <br /> Fraud. Any Consumer Borrower engag�s in fraud or material misrepresentation in canne�tion wi�h the <br /> Secur�d Deb�that is an apen end home equity pian. <br /> Payments. Any �onsumer�3orrower on any Secur�d Debt that is an open end hame equity p�an fails to make <br /> a payment when due. <br /> Praperty. Any action or inactxan by the �orrower or Trustor occu.rs that adversely aff�cts th� Prop�rty or <br /> Benefic�ary's rzghts in the Prop�rty. This include�, but xs not limzted to, the fa�Xowing: �a} Trustor faixs to <br /> main�ain requ�red �n�urance fln the Prop�rty; �l�} Trustor�ransfers the Property; (�} Trustor commits wast� ar <br /> atherwxse destruct�vely uses ar faiis tn mainta�n the Praperty such �hat the action or xnactran ad��rsely affe�ts <br /> , Ben�fic�ary's security; �d} Trtzs�or fails to pay taxes on �h� Praperty ar atherwzse fails to act and thereby <br /> causes a lien t❑ b� fxled against the Proper�y �hat is senior to the Iien of th�s Secur�ty Ynstrument; �e� a sflie <br /> Trustor dies; �f� if more than ane Trustar, any Trust�r dies and Benefi�iary's security is ad��rs��y affect�d; <br /> ��} the Pr��er�y is taken�hraugh eminent domain; �h} a judgm�nt is filed against Trustor and subjects Trustar <br /> and the Property to action that ad��rse�y affec�s Seneficiary'� in�erest; or �i} a priar lienholder foreclases an , <br /> the Property and as a resul�, Beneficiary's in�erest is ad�ersely affected. <br /> Executive �ffi�ers. Any Barrower is an execut�ve offzcer of Bene��iary flr an aff�liate and su�h Barrow�r <br /> becomes indebted ta Benefz�xary or anather lender in an aggregate amount great�r than the amaunC permi�t�d <br /> und�r f�deral� 1 aws and regul ations. <br /> 9. REN�DI�S �N DEFA[JLT. Zn addzt�on t� any other remedy avai�able under the terms of this Securi�y <br /> znstrumen�, Beneficiary may acc�lerate the Secured Debt and fore��ase �his Securi�y Znstrumen� in a manner <br /> pro�id�d by Iaw if Trust�r is in default. Xn some instances, fed�ral and stat� Iaw will requxre Ben�f�ciary to <br /> pro�ride Trustar with no��c� of the r�ght ta �ure, �r ather not�ces and may es�a�iish time schedul�s far <br /> foreclosure actions. Each Trustor requests a copy of any not�ce of default and any notice of sale thereunder be <br /> mailed to each Trustor at the address pra�ided xn Se�tian 1 abo�e. <br /> At �he optxon af Beneficiary, a11 flr any part of the agr�ed fees and charges, accrued interest and princ�pal <br /> sha11 become imxned�ately due and paya�le, after giving nfltice if requ�red by law, upon the occurrenc� of a <br /> default or anyt�m�thereaf�er_ <br /> �f th�re zs a default, Trust�� shall, at the request of Beneficiary, advert�se and sell the Praperty as a whol� or <br /> in s�parate parcels at publi� auction tn the highest bidder fflr cash and can�ey abso�ute title fr�e and clear of <br /> ail right, title and in�erest af Trustor at �uch time and pla�e as Trust�e designates. Trustee sha.ii gi�e natice af <br /> sale including the time, terms and place flf sale and a descrip�ion of th�property to b� sold as required by the <br /> applYcable law in�ffect at th�time of th�propos�d sa�e. <br /> Upon sale af th� Property and to th� exten� not proh�bited by �aw, Trustee sha11 make and de����r a deed to <br /> the ProperCy sol�l whi�h �on�eys abso�ute tx�Ie to the purchaser, and after first paying all fe��, charges and <br /> costs, shall pay to Benefi�iary al.� maneys ad�anced far repairs, taxes, insuranc�, liens, assessments and pri�r <br /> encumbran�es and interest thereon, and the principal and interes� on �he Secured Deb�, payxng �he surplus, if <br /> any, �o Trustor. B�neficzary may pur�hase �he Property. The re�itals in any deed of conveyance sha�� be <br /> prima facie e�idence of the facts set forth therein. <br /> The accep�an�e by Benef���ary af any sum in payment or partYal payment an the S�cured D�bt after the <br /> ba.�an�� is due or is accelerated or after farec�osur� pr�ceedings are filed sha�I not constitute a wa��ver of <br /> Ben�fxciary's rzght to requ�re compl��� eure of any �xistxng default. By no� exerc�sing any r�medy an <br /> Trus�or's defau�t, Benef�c�ary does not wai�ve Beneficiary's r�ght to �ater cansider �he event a d�fault if it <br /> happens agarn. <br /> 10. E�PENSES; ADVAI��ES �N ��V�NANTS; ATT�RNEYS' FEES; ��LLECTI�N CQSTS. 7f <br /> Trustar breaches any covenant in this Securi�y Znstrument, Trustor agrees to pay a�� �xpenses Benef�ciary <br /> incurs in perforrning such co�enants or protect�ng its se�urity in�erest in the Property. Such expenses include, <br /> but are not l�mited to, fees incurred for inspecting, preserving, or atherw�se protecting the Prop�r�y and <br /> Beneficiary'� securi�y int�res�. These expenses are payabie on demand and wzll bear interest from the date of <br /> paym�nt unt�l paid in ful� at��ae high�st rate of interest in effe�t as provided in�he terms of th� S�cured Debt. <br /> Trustor agrees ta pay a�l costs and exp�nses incurred �y Bene�ciar� in cflllecting, enfarcin� or pro�ecting <br /> Beneficiary's rights an�i remedies under this Securx�y Instrument. Thxs amaunt may include, but is noC limi��d <br /> to, Trust��'s fe�s, caurt costs, and other �egal. expenses. To the ex�ent p�rmitted �y the Uni��d States <br /> Bankrupt�y �od�, Trustor agrees ta pay the reasona�le attorney�' fee� B�ne��iary inCurS to collect the <br /> Secur�d T3ebt as awarded by any court exercising jur�sd�ct�on under �he Bankruptcy �od�. This S�curity <br /> Instrument shall remain in effect until released. Trustor agrees ta pay for any re��rdatian cas�s �f such <br /> r�lease. <br /> 5e�urity f�strUment-0pen-Er�d-CQnsumer-NE QCI'-R�DT-N� 71�1�01 1 <br /> VMPD gankers 5ystemsT''^ VMP-C4fi5�N�} f1�07}.D� <br /> Walters Kluwer�inar�cial 5er�ices C��994,20'I 1 Page 4 at� <br />