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200208562
<br />Financial Reports and Additional Documents. (raster will provide to Beneficiary upon request, any financial
<br />sWtcment or information Beneficiary may deem reasonably necessary_ Truster agrees to sign, deliver, and file any
<br />additional documents or certifications that Benefient) may consider necessary to perfect- and preserve
<br />Trustor's obligations under iris Security Instrument and Beneticfary's lien status on the Property.
<br />6. WARRANTY OF TITLE. Trustor warrants that 'frostor is or will be lawfully seized of the estate cnveved by this
<br />Security Instrument and has the right to irrevocably grant, convey. and sell the Property to Trustee, in trust, with power
<br />of sale Truster also warrants that the Property is unencumbered, except for encumbrances of record_
<br />7. DUE ON SALE. Beneficiary may, at its option_ declare the entire balance of the Secured Debt to be immediately due
<br />and payable upon the creation of, or contract Cot the creation of', a transfer or sale of the Property_ This right is subject
<br />In the restrictions imposed by federal law (12 ( I . 591), as applicable.
<br />8. DEFAULT. 'IFustnr will be in default if any of the following occur:
<br />Fraud. Any Consumer Burrower engage in Gaud or material misrepresentation in connection with the Secured Debt
<br />that is an open end home equity plan_
<br />Payments. Any Consmucr Borrower on any Secured Debt that is an open end home equity plan fails to make a payment
<br />when due.
<br />Property. Any action or inaction by the Borrower or Irustor occurs that adversely affects the Property or Beneficiary's
<br />rights in the Property- Iles includes, but is not limited to. the following: (a) Trustor fails to maintain required
<br />insurance on the Properly: (b) Trustor transfers the Property. (c) I roster commits waste or otherwise destructively uses
<br />nr Calls to maintain the Property such that the action or inaction adversely affects Beneficiary's security; (d) Trustor fails
<br />to pay taxes on the Property or otherwise fails to of and thereby causes a lien to be filed against the Property that is
<br />senior to the lion of this Security Instrument, (e) a sole I ouster dies; (f) if more than one Trustor, any Truslor dies and
<br />Berefici ny's security in adversely affected: (g) the Property is taken through eminent domain; (h) a judgment is filed
<br />against I j ustor and subjects Truster and the Property to action that adversely affects Beneficiary's interest; or fit a prior
<br />lienholder forecloses on the Properly and as a result. Beneficiary's interest is adversely affected.
<br />Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Borrower beeonre,
<br />indebted to Beneficiary or another lender in an aggregate amount greater tlran the amount permitted under federal laws
<br />and regulations.
<br />9. 11F.MEEdES ON DEFAULT. In addition to any other remedy available under the terms of this Sccunly I fish rwnenl,
<br />Beneficiary may accelerate the Secured Debt and f..relou this Security Inslruntent in a manner prodded by law if
<br />Trustor is in default In some instances. federal and state law will require Beneficiary to provide Truster with notice of
<br />the right to cure, or other notices and may e'tablish time schedules for foreclosure actions_ Lac IF Trustor requests a copy
<br />of any notice of defanIt and any notice of 'a1 thin corder be mailed to each 1) later at the address provided in Section I
<br />above.
<br />At the option of the Benefician'. all of any pail of the agreed fees and charges. accrued interest and principal shall
<br />become immediately due and payable, after giving notice if required by law, upon the Occurrence of a default of
<br />anytime thereatier,
<br />If there is a default, T rattler, shall, al the request of the Beneficiary, advertise and sell the Property as a whole or in
<br />separate parcels at public auction to the highest bidder for cash and convey absolute title free and clear of all right, title
<br />and interest of l raster at such time and pace as Trustee designates. Trustee shall give notice of sale including the time,
<br />terms and place of sale and a description of the property to be sold as required by the applicable law in effect at the time
<br />,,fine proposed sale.
<br />Upon sale of the property and to the extcnl not prohibited by law, 'fmstee shall make and deliver a deed to the Property
<br />sold which conveys absolute title to the purchaser. and aher lint paying all fees, charges and costs. shall pay to
<br />Beneficiary all moneys advanced for repairs. taxes, insurance, liens, assessments and prior encumbrances and interest
<br />thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary may
<br />purchase the Properly. The rcdtals in any deed of conveyance shall he prima facie evidence of the Iacts set foflh
<br />therein.
<br />1 he acceplance by Beneficiary of airy aunt in payment or partial payment on the Secured Debt after the balance is decor
<br />is aceclac,lcd or afle, foreclosure proceedings are fled shall not constitute a waiver of Bcneficiarv's right to require
<br />complete cure of nny existing default By not exercising any remedy on Tif f s default. Beneficiary does not waive
<br />Heneficiary s right to later consider the event a default if it happens again.
<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor breaches
<br />any covenant in this Security Instrument. Trustor agrees to pay all expenses Beiefidary incurs in performing such
<br />covenants or protecting its security interest in the Property. Such expenses include, but arc not limited to, Teti incurred
<br />Cot inspecting, preserving, or otherwise protecting the Property and Beneficiary's security interest. These expenses are
<br />payable on demand and will bear interest from thic dale of payment until paid in full at the highest rate of interest in
<br />effect as provided in the let fit s of the Secured Debt I tstor agrees to pay all costs and expense incurred by Ber eiciary
<br />in collecting, enforcing or protective Beneficiary's rights and remedies under this Scantily Icon untenl. This amount may
<br />include, but is not limited to_ Trustees f es. court costs, and other legal expenses, to the extent permitted by the
<br />(Jutted Stales Bankruptcy Code. Truster agrees to pay the reasonable attorneys fees Bcncflciap incurs to colle;l the
<br />Scouted Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. This Security Instrument shall
<br />remain in effect until released- 1 rustnr agrees to pay Cot any recordation costs of such release.
<br />H. ENVIRONMENTAL LAWS AND IIAZARDOLS SURSTANCES. As used in this section, (1) Environmental Law
<br />means. without limitation, the (onaprcher,ne Environmental Response, Compensation and Iiabihty Act toLRCL V 42
<br />I) SC 9601 at soul.), and all other federal. state and local laws, regulations, ordinances, court orders. altorncy general
<br />opinions of interpretive letters concening the public health, safety, McLane, environment or a hazardous substance. and
<br />(2) Iazardo rs Substance means any loxie radnouctive or hazardous material, waste_ pollutant or contaminant which has
<br />characteristic, ,Inch render the substance dangerous or potentially dangerous to the public health, sally. welfcc of
<br />envi ronnrenl. lire let in mdud,,. without limitation, env ,ubstal e,, defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazndou, substance" under any Eaviromnenlal Law.
<br />Trotter represents. warrants and agrees that.
<br />A. Lxcept as previously disclosed and acknowledged in willing to Beneficiary, no Hazardous Substance is or will be
<br />located, stored or released on of in the Property. This restriction does not apply to small quantities of Iazardous
<br />Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
<br />R. Fxcept as previously disclosed and acknowledged in writing to Beneficiary, Truster and every tenant have been
<br />are. and shall terrain in fall compliance with any applicable Fnvironmental Law.
<br />C. Trustor shall inunediately route Reneticia , if n release or threatened release of'. Hazardous Substance occurs on,
<br />under or ,beat the Propertw or do ae is a violation of any Environmental Law concerning the Properly. In such an
<br />eocut. Trustor shall take all necessary remredial action in accordance with any Fnvironmenlal Law.
<br />(page 3 of 4)
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