201608565 - Laserfiche WebLink

Browse

2� 1 ��85�5 S. DEFAULT. Trus�ar wiii be in default if any ❑f the fa�lowing occur: Fraud. Any Cansumer �arrower engages in fraud or material misrepresentation rn connection with �he Secured Deb��hat is an apen end home�quity plan. Payments. Any Consumer Borrow�r on an� Secured Debt that is an open end honze equity plan fails to make a payment when due. Praperty. Any action or ina�tion by the Borrower or Trus�or nccurs that adverseiy affects the Property �r Benefi�iary's rights in the Properry. This inc�udes, but is not limited to, the following: �a} Trus�or fa�1s to maintain required insurance on the Praperty; ��} Trus�or transf�rs the Property; �c} Trustor commits waste or otherwise destruc�iv�Iy uses or fails to main�ain the Property such tha� the action ar inact�on ad�ersely affe�ts Benef�ciary's security; �d} Trustor fails to pay taxes on the Praperry ar otherurise fails to act and ther�by causes a lien to �e filed agaxnst the Prop�r�y that is seniar to �he ��en af�his Security Xnstrum�nt; �e) a sole Trust�r d�es; �f� if mor� than one Trus�or, any Trustor dies and Bene�ciary's se�urity �s adversely aff�c�ed; �g� the Property is taken�hrough emin�nt domain; �h} a judgmen� is fil�d against Trustor and subj�cts Trustflr and the Proper�y to a�tion �hat ad�ersely affe�ts Beneficxary's in�eres�; or �i} a prior Iienholder f�recloses on the Property and as a r�su�t, Seneficiary's �nt�r�st is adversely affec��d. Execu�ti�e (]fficers. Any Borrawer x� an executi�e off�cer of Ben�fi�iary �r an affiXiate and such B�rrower becomes indebted to Benefi�ia.ry or another �ender in an aggregate amount grea�er than the amaunt permitt�d under federal Xaws and regulatzons. 9. RENi�DIES aN� DEFAIJLT. In addxtian to any ather remedy a�ailable under the terms of this Security Instrument, B�nefY�rary may accel�rate the �ecured Debt and foreGlose this �ecuri�y Zns�rument in a n�ann�r provided by �aw if Trustor zs in default. In same instances, federa.� and stat� law wil� require Benefic�ary ta provide Trustor w�th not�ce of the r�ght to cur�, or other notices and may establish time sch�dules far foreclosur�actiflns. Each Trustor requests a cflpy of any no�ice of default and any no�ice nf sale thereunder be maiied to each Trustor at the address provided in Section l. abave. A� �he option of Benef�ciary, all or any part of th� agr�ed f�es and �harges, accru�d interest and principal shall �ecome immedYately due and payabl�, aft�r giving notice if required by law, upon the accurr�n�� of a defauit or anytime thereafter. rf there is a default, Trustee shal.l, at the request af B�neficiary, ad�ert�se and sel� the Property as a wh�Ie ar in separat�parce�s at public auction to the highest bxdder for cash and canvey absalu�e title free and c�ear of aI� right, title and rnterest af Trustor at such�ime and place as Trus�ee designates. Trustee shall give natice af sale inc�uding the time, terms and place af sale and a description of the proper�y to be sa�d as requ�red��the appiica�le�aw in effect at the tim�of th�praposed sal.e. Upan sale of the Property and to the �xtent no� prahibi�ed by Iaw, Trustee sha11 make and d�Ii�er a d�ed to th� Praperty sold wh�ch conveys absolute titXe to �he pur�has�r, and after first paying a11 fees, charges and casts, shal� pay to Beneficiary aII maneys advanc�d for repa�rs, taxes, insurance, Xiens, assessments and prior encumbrances and interest�hereon, and th� principal and in�ere�t on the �ecured Debt, paying the surplus, if any, to Trustar. Beneficiary may pur�hase the Prap�r�y. The r�citals in any deed of conveyance shall be prima facYe�v�dence af�he facts set farth therein. The acceptanc� by Beneficia.ry of any sum in payme�t or partia� payment on the Secured Debt after the baXance �s due or is accelerated or aft�r fore�Iosure proceedings ar� filed sha�Z not const�tute a wazver af Beneficia.ry's right to re�uire cample�e cur� af any ex�sting defau�t. By nat exercising any remedy an Trustor's d�fault, Beneficiary daes nat waiv� Beneficiary's rrght to �ater consider the event a d�faul� if it happens again. 1D. E�PENS�S; ADVANCES �N C�VENANTS; ATTC3RNEYS' FEES; ��LLECTI�N CC]STS. �f Trustor breaches any covenant in this Security Instrument, Trustar agrees to pay a1I expenses B�nef�ciary incurs in performin� such co�enan�s or pratecting its security �nterest in the Proper�y. Such expens�s includ�, but are not Iimited ta, fees incurred for insp�cting, preserving, ar otherwise prat��ing the Praper�y and Beneficia.ry's security inter�st. Thes� expenses are payabl� an demand and wi�� bear interest from the dat� af payment untxl paid in full at the h�ghest rate af interest in effect as provided in the t�rms af the S�cured Debt. - Trustar agr�es ta pay all �asts and expenses incurr�d by Beneficiary in colle�ting, �nforcing or protecting Seneficiary's ri�hts and remedi�s under this 5ecurity �nstrument. This amount may rnclude, bu� is nat limited ta, TI'tXS��'S fees, court casts, and oth�r legal e�penses. T� �he extent permitted �y the Un�ted States Bankruptcy Cade, Trustor agrees to pay the reasonable attarneys' fees Beneficiary incurs to collect the Secured Debt as awarded by any �ourt exercising jurisdiction under the Bankruptcy Cade. This S�curity Instrument shaXX remain in effe�t un�il released. Trustor agr�es �o pay far any recordatian �osts of such releas�. Security Instrument-�pen-End-Consumer-N� ❑CE'-R�DT-NE 71212Q11 VMP�Bar�k�rs SystemsT'" VMP-C4G5�N�} f1 1�7}Aa Wvlters Kluwer Financial 5er�ic�s U1994,��1 Page 4 vf 6