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DEFAULT AND REMEDIES 201701707 Events of Default 19. The Trustor will be in default under this Trust upon the happening of any of the following events: a. if the Trustor defaults in the payment of the Principal Amount or any other amount secured by this Trust, when payment of such amount becomes due under the terms of this Trust or as elsewhere provided for any other amount secured by this Trust; b. if the Trustor defaults in the observance or performance of any term or covenant which the Trustor has agreed to observe or perform under this Trustor or elsewhere; c. if any information or statement the Trustor has given or made before, at or after signing the Trust, in respect of the Property or the Trustor's affairs is incorrect or untrue at the time it was given or made; d. if the Trustor ceases or threatens to cease to carry on in a sound businesslike manner, the business in which the Trustor ordinarily conducts on, or with respect to all or any part of, the Property; e. if a petition in bankruptcy is filed against the Trustor, if the Trustor make a general assignment for the benefit of the creditors, if a receiver, interim receiver, monitor or similar person is placed or is threatened to be placed in control of or for the overview of the Trustor's affairs or Property, or in the opinion of the Beneficiary, the Trustor becomes insolvent; f. if a construction or similar lien is registered against the Property or if default occurs under any other lien, trust or other encumbrance existing against the Property; g. if the Trustor abandons or does not visibly and consistently occupy the Property; or if the Property or a material part of the Property is expropriated. Acceleration on Default 20. If at any time the Trustor should be in default under this Trust, then the Principal Amount, interest and all amounts secured by this Trust will, at the option of the Beneficiary, become due and payable immediately. 21. If at any time the Trustor is in default and the Beneficiary does not require the Trustor to pay immediately in full as described above, the Beneficiary will retain the right to seek full immediate payment if the Trustor is in default at a later time. Any forbearance on the part of the Beneficiary upon default, which includes but not limited to acceptance of late payment, acceptance of payment from third parties, or acceptance of payments less than the amount then due, will not constitute as waiver to enforce acceleration on default.