200207135 - Laserfiche WebLink

Browse

200207135 Financial Reports and Additional Documents. Traitor will provide to Bemflexry upon request, any, financial statement or umomation Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any additional documents or certifications that Bcnafioiary may consider necessary m perfect, cod mie, and preserve Tmstor's Obligation under this Security lnstmment and Beheficiary%s Lien scams on tM Property_ 6. WARRANTY OF TITLE. Trustor warrants that Truster is or will be lawfully seized of the estate conveyed by this Security Instrument and tons the right to irrevocably Limit, convey, may sell the PIG Hy to Trustee, in trust, with power of sale. Tmstor also warrants thin the Property is unencumbered, except for eneuMfe'Mces of record. 9. DOE ON SALE. Beneficiary may, at its option, dcolam the came balance of the Secured Debt to be inuhedlatety due and payable upon the mention of, or cont of for the mention of, a transfer or sale of the Property. This fight is subject to the restrictions imposed by federal law (12 C. P. R 591), as applicable 8, DEFAULT. Tmstor will be in default if my of the following occur: Fraud. Any Consumer Borrower engages in fraud or material misreprese cation in connection with the Second Debt Had is an open end home equity plan. Payments. Any Consumer Borrower on any Secured Debt that is an open end from equity plan fails to make a pay °meet when due. Property. Any action or nation by the Borrower or Tmsmr occurs Hill adversely officers the Property er Benefieiam's fights in the Pro One This includes, but is ran Bridled lo, the following, (a) Tmsmr fails to maintain required insurance on the property; (b) Trustor transfers the Property; let Poster warrants waste or otherwise dcstnm[irely uses or furls to maintain the Properly such Bat the action or function adversely aBems Bcucfidary° s severity; (d) forma fails to pay taxes on the Property or otherwise fells to act mid thereby causes a lien to be filed against the Property that is armor to the lien of this Security Nstrument; (e) a sale Trustor dies, ( if mom than one Trustor _ any Toaster dies and Benefiaary's security is adversity affected (g) the Property is taken through eminent domaiq (h) n judgment is filed aganst Trustor end subjects Trustor and ate Property to action But adversely, affects Beneficiary's interest; or (i) a prior Iicnholdcr forecloses on the Propery and as a result, Beneficiary's interest is adversely affected. Executive Officers. Any Borrower is an executive officer of Beneficiary or or affiliate mid such Borrower becomes indebted to Beneficiary or another lender in an aggregate amount greater Nan the amount pernulled under federal laws amt regulations. 9. REMEDIES ON DEFAULT. In addition to al offer remedy available tinder the terms of this Security minimum, Ben�einry may accelerate the Secured Debt mid foreclose this Security Inswmcut in a framer provided by Inv if Toaster is in defiault. In some instances, federal .mud stoic law will mature Bemfrciary� to provide Trustor with notice of the right to cue, or other notices and m7r establish time schedules for fondu6me refusal Each Tmstor requests a copy of any notice of default and any notice of sale thereunder be mailed In each Trustor at the address provided in Section I above At the option of the Bcucficiary, At or my put of the agreed fees and charges, record interest and principal shall become immediately due and payable, alter giving ender of required by law, upon the occurrence of a default or anytime thereafter_ If them is a default, Trustee shall, at the request of the Beneficiary, advertise and sell the Properrs as a whole or in separate parcels a public auction to the Highest bidder for cash and convey absolute title free ant dear of all right, title and interest of Truslor at such time and place as Tongue: designates. Trustee Art give notice of sale including the time, terms and place of sale and a description of the property to be sold as required by the applicable law in effect it the time of the proposed sale. s on sale of the property and to line extent not prohibited by low, Trustee shall make and deliver a deed to the Property sold which conveys absolute title to the purdmsa, and agar first parrying all fees, charges and costs, shall pay to Beneficiary all m advanced for repairs, taxes, i curate, liens, assessments and prior encumbrances and interval thereon, and the principal and interest on the Secured Debt, paying the srrplus, if any, to Trader. Benefichuy may purchase Me Property. The rounds in any decd of conveyance shall be prince facie evidence of the facts Sul forth therein The acceptance by Beneficiary of any mm in payment or partial payment on the Served Debt after the balance is due or is accelerated or after foreclosure proceedings me filed shall not constitute a waiver of Beneficiary's fight to require complete cure of any existing default. By not exercising any remedy on Tmstur's default, Beneficiary does not wave Beneficiary's right to later consider the event a default if it happens again. 10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Tmsmr breaches any eovennnt in tits Security Instrument. Tmstor agrees to pay all expenses Beneficiary incurs perforating such covenants or protecting its security immesh in the Property. Such expenses include, but are not limited to, fees incurred for petting, preserving, or otherwise protecting Inc. Property and Benefict`7 rimy interest These expenses me payable on demand and will bear interest from the date of Payment until p i in full at the Highest rate of interest in effect as provided in the terms of the Secured Debt. Truster agrees to pay all costs and expenses incurred by Beneficiary in collecting, enforcing or protectlng Beneficiary's rights and ronedfes under this Senuity Instrument . This amount Hill include, but is enl limited to, Tmatee's fees, court costs, mm other legal expenses. To the agent permitted by the Uniled States Bonkmptw Code, Tmsmr agrees to pay the reasonable attorneys' fors Bcncificiary incurs to collect the Secured Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code, This Security Instrument shall remain in effect until released. Tmsmr agrees to pay for any recordation costs of such release. 11. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law without Initiation the Comprehensive EmInonmctrad Response, Compensation mid Liability Act (CERCLA, 42 UcS. C. 9601 el sea.), will all other heard, state nom local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public InealBg safety, welfine, environment or a baeardoms substance; aW (2) Rauvdous Substance memo any toxic, raNOactwe or hazardous material, waste, pollutant or containment which less characteristics which render the substance dangerous or potentially, dangerous to the public health, safety, welfare or environment The term includes, without hinagion, mry substances defined as " hazardous material," "toxic substances," "bnwardons wash" or "lines dons substance" under any Envimmnemal Law_ Tmstor represents, warrants and agrees IIaL A. Except as previously disclosed and acknowledged in writing to Bcneficiary, no 1LVartlous Substance is or will be turned, scored or released on or in the Property. This rctriction does act apply to stall quantities of HaTdrdmna Substances that are generally recognivcd to he appropriate for the named use and nomaenvnce of the Property. B. Except as previously disclosed and acknowledged In wthing to Beneficiary, Tmstor mid every team have bccu, arc, and shall remain in full compliance with any, applicable Environmental Law_ C. Tnvstor shall immediately notify Beneficiay if a release of threatened release of a Hassrdous Substance occurs on, under or about the Property or there is a violation of any EnviromneNal Law concerning the Property. In such an went, Tmstor shall lake all vewssmy remedial action in accordance with mry Enviromnrnml Law. eUerss ., _, e ""a Mn r" "oea off NE hna,aa yC 12ti f° (M.-C4661NEI faeae)