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200206911 Financial Reyor[s and Additional Documents. Trustee will provide m Beneficiary upon request, any financial statement or reformation Beneficiary may deem reasonably necessary. Truster agrees m sign, deliver, And file any Additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve 'Duster's obligations ceder this Security Instrumentalist Beneficiary's lien status on the Property, 6. WARRANTY OF TITLE. Tmstor warrants that Trustor is or will be lawfully seized of the estate conveyed by this Security Instrument and has the right to irrevocably grant, survey, and sell the Properly to Tougher, in trust, with power of sale .'fmam :dso warrants Nat the Property is unencumbered, except for encumbrances of record. 7. DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to he immediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 CER_ 591), le applicable. 8. DEFAULT. Truster will be in default if any of the following occur: Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Deb[ that is an open end home equity plan. Payments. Any Consumer Borrower on any Secured Debt that is an open end ]ionic equity plan fails to make a payment when due. @uperty. Any action or inaction by the Borzower or Tmstor occurs that adversely affects the Property or Beneficiary's rights iv the Property. This includes, but is not limited to, the following: (a) Lobster fails to maintain required insurance on the Property; (b) Tmsmr transfers the Property; (c) Truster constants waste or otherwise destructively uses or fails to maintain the Property such that the action or inaction adversely affects Beneficiary's security; ph Truster fails to pay taxes on the Property or otherwise fails to :cal and [hereby causes a lien to be filed against the Property that is senior to the lien of this Security Instrument; (e) a sole Truster dies; (f) if more than one Tougher, any Tmstor dies and Beneficiary's security is adversely affected; (g) me Property Is taken through eminent domain; (h) a judgment is filed gains[ Tmstor and subjects Turner and the Property to action that adversely affects Beneficiary 's interest; or (i) a prior lienholder forecloses on the Property and as a result, Beneficiary 's interest is adversely affected. Executive Officers . Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower becomes indebted m en Beficiary or another leader in an aggregate amount greater than the amount permitted under federal laws and regulations. 9. REMEDIES ON DEFAULT. In addition to any other remedy available under the terms of Nis Security Instrument, Beneficiary may oveelerae the Secured Debt and foreclose this Security Instrument in a manner provided by law if Trustee is in default. In some instances, federal and state law will require Beneficiary to provide Toaster with notice of the right to cure, or other notices and may establish time schedules for Foreclosure actions. Each Procter requests a py ]i of any notice of defaa and any notice Male thereunder he mailed to each Truster at the address provided in Section I above. At the option of the Beneficiary, all or any part of the agreed fees and charges, acemed interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. If there is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Properly as a whole or in separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all tight, title and interest of Tmstor at such time and place as Trustee designates. Tms(ee shall give notice of sale including the (line, terms and place of sale and a description of the properly to be sold as required by the applicable law in effect at the time of the proposed sale. Upon sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a decd to the Property sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay to Beneficiary all moneys advanced for repairs, [axes, monsoon, liens, assessments and prior encumbrances and interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustee Beneficiary not purchase the Property. The recitals in any died of conveyance shall be prima facie evidence of the facts set forth therein. 'ILe aeroplane by Beneficiary of tiny sum in payment or partial payment on the Secured Deb[ after the balance is due or accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require is care of any existing default. By not exercising any remedy on Trans is default, Beneficiary does not waive Beneficiary's right to later consider the event a default if it happens again. 10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Turner breaches any covenant in this Security Instrument, Tmsmr agrees to pay all expenses Beneficiary incurs in performing such covenants or protecting its security interest in the Property. Such expenses include, but are not limited (r, fees incurred for imposing, preserving, or otherwise protecting the Property arty Beneficiary's security interest. These expenses arc pa able on demand and will bear interest from the sate of payment omit paid in full at the highest rate of interest in effect as provided in the terns of the Secured Debt_'rmstor agrica to pay all costs and expenses incurred by Beneficiary, include, bur is not limited to, Tmsice's fees, court costs, and other legal expenses. to the extent pennulee oy me United States Bankruptcy Code, Traitor agrees to pay the reasonable attorneys fees Beneficiary incurs to collect the Secured Debt as awarded by any court exercising jurisdiction under the Bankruptcy Co& this Security Instrument shall remain in effect until repealed. Tmstor agrees to pay for my recordation costs of such release. 11. F,NVIRONMER'CAL LAWS AND HAZARDOUS SUBSTANCES. As used in tus section. (I) Environmental Law moans, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U S.C. 9601 et seq ) and all other federal, state and local laws, regulations, ordinances, coon orders, attorney general pp' ' of interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contmtinmt which has chasartorial is which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, an y substances defined as "hazardous m:narial," "toxic substances," 'hazardous waste" or "hazardous substance" under my Enviromrental Law. Tmstor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be located, stored or released on or in the Property. This restriction does net apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property_ B. Except is previously disclosed and aelmowledged in writing to Beneficiary, Tmstor and every tenant have been, are, and shall remain in full compliance with any applicable Environmental Law. C. Tmstor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on, under or about the Property or there is a violation of my Environmental Law concerning the Property. In such m event, Tmsmr shall take all necessary remedial action in awuNance with any Environments] Law. Ipage 3 of 41 ©194e."k.r. ey=L"ns, n c. or d" "a w.v corm ore REOT NE 1 .lass ®-C465(NE) vice,nz