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200208823 '-
<br />Financial Reports and Additional Docummrats. ']Victor will provide to Beneficiary upon request, any financial
<br />smtement or information Beneficiary may deem reasmnzhly necessary. Trustor agrees to sign, ddiyer, and tile any
<br />additional documents or certifications that licneHctmy may, consider necessary to perfect, continue, and preserve
<br />Tmsfmr', obligations under thss Security Instrument and Beneficiary 's lien status on the Property_
<br />fi, WARRANTY OF TEI'LE frusmr warrants that Trustor is or will be lawfully seized of die estate conecyel by this
<br />Security Instrument and has the right to irrevocably grant, mosey, mid sell the Property u, 'rrustcc, in bust, with power
<br />of sale. Tustor also warrants that the Properly 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 payahle upon the creation of, or contract for the ctentuai of, a transfer or sale of the Property phis right is suhjcct
<br />to the restrictions imposed by federal law (12 CF.R. 591), as applicable.
<br />S. DEFAULT. Truster will be in default ifany of the following occur'
<br />Fraud. Any Consumer Borrower engages in Gaud or material mtsrepreacmalion in connection with the Sc rued Debt
<br />that in an open end home equity plan
<br />Payments. Any Consumer Borrower on mry Secured Debt that is an open end home equity plan fails to make a payment
<br />when due.
<br />Property. Any action m inaction by the Bra rower or I justor occurs that adversely affects the Propefty or Beneficial} %s
<br />rights in the Property_ This includes, but is not limited to. the following' (a) Trust,,, rails to maintain required
<br />insurance nn the Property; (b) Trustnr transfers the Properly, (c) Trustnr commits waste or otherwtse destructrvcly uses
<br />or fails to maintain the Proper such that the action or inaction adversely affects Beneficiary's sectnily� (d) Truxtor fails
<br />to pay taxes on the Property I, I I fad, to act and thereby causes a lien to he filed against the Property that is
<br />senior to the Ian of till: Se uiity Instrument. (c) a sole l orator dtcs; (t) if more [Iran one I ruslof, an Gustor dies and
<br />Reneficiary', security is ad 'ersely affected; (g) the Property, is taken Through eminent domain; (h) a judunent is filed
<br />against Trustor and suhjccts Truxtor and the Property to action that adversely affects Beneficial,', interest. or (p a poor
<br />],,,,holder forecloses on the Property and as a result. Beneficiay" interest rs adversely affected
<br />Executive Officers. Any Bon'owcr is an execauive officer of Beneficiary or an affiliate and such Borrower becomes
<br />indebted to Beneficiary or another lender in an aggregate amount greater than the amount permitted under federal laws
<br />and regulations.
<br />9. REMEDIES ON DEFALLT. In addition to any other remedy available under the terns of This Security lux(I umrent
<br />Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if
<br />Ion,tot' is m default. In corn, instances_ federal and state law will require Reneficiary to provide Tru'inr with notice of
<br />fire right to cure, or other rm cos and uas establish time schedules for foreclosure actions. Each TiLxlflr rcgUell' a copy
<br />of any notice of default and arry notice of sale thereunder be mailed to each Trustor at the address provided in Section I
<br />'hove
<br />At the option of the Beneficiary, all or any par[ of the agreed fees and charges, accrued interest and principal shall
<br />beenne immediately due and payable _ after giving notice if required by law. upon the occurrence of a default or
<br />anytime thereafter.
<br />If there is a default, Trustee shall, at die request of the Benefciary, advertise and sell the Property as a w1iole or in
<br />separate parcels at public auction to file highest bidder for cash and convey absolute title Gee and clear of all right, title
<br />and interest of Trustor at such time and place as Trustee designates. Trustee shall give notice of sale including the time,
<br />terns 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 />,If the proposed sale.
<br />Upon sd, of file properly and to die extent nut prnhfbimd by law_ I r,tee shall make and deliver a deed to the Property
<br />sold which conveys absolute title (o the ImIdal et and after firel paying all fees, charges and costs. shall pay to
<br />Beneficiary all moneys motioned for repairs taxes, insurance, liens, assessments and prior encumhrances and interest
<br />thereon_ and the principal and interest on the Secured Debt paying the surplus. if any, ma Trustor. Beneficiary may
<br />purchase the Property The recitals ill any deed of cona,yanec shall be puma facie evidence of the facts set fofth
<br />therein.
<br />The acceptance by Beneficiary of Lilly sum in payment or partial payment on the Secured Debt after the holanec is due or
<br />is accelerated or after fore,1k;,me proceedings are tiled shall not constitute a waiver of Benefciary s right m require
<br />complete cure of any existing default By not exercising any remedy ou TI'list,),'s default. Bencfic iaI doer not w'aiac
<br />Beneficiary' x right to later consider file even I a default if it happens again
<br />10. EXPENSES; ADVANCES ON COVENANT S; ATTORNEYS' FEES; COLLECTION COSTS II Tutor breaches
<br />any covenant in this Secuity Insinaturt Trustor agrees to pay all expenses Beneficiary incurs iu petfn'mtng such
<br />covenants or protecting its security molest in the Property_ Such expenses include, but are not Honied to fees incurred
<br />for inspecting, preserving or otherwise protecting the Property and Beneficiary's security inuicst. These expenses are
<br />payable on demand and i all bear interest from the dale of payment until paid in full at Ilse higheN rat, of interest in
<br />effect as pro ided in the terms of the Secured Debt l rustor agrees to pry all costs and expenses incurred by Beneficiary
<br />in collcchub enlbuing or protecting Beneicmry's right. and remedies under this Security Instru icin This amount may
<br />include. hill Is not limited to, llarsmc's fell_ court casts. and other legal expenses. To the extent permitted by the
<br />Lnifed Stale, Bankruptcy Code, I ru.aor agrees to pay the reasonable aNOrneys' fees Beneficiary incurs to collect the
<br />Secured Debt as award,d by any court exercising jurisdiction under the Bankruptcy Code T his Sccurily lnstrument shall
<br />remain to effect until released. T ustor agrees to pay for any recordation costs of such release.
<br />IL ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in fires section. I U Environmental Law
<br />means_ without limitation the Comprehensive Fnvirmunenml Response Compensalion mid Liabilitt Act (CFRCLA, 42
<br />I;.S.( . 9601 at seq. ). and all other federal. state and local Taws_ regulations. ordinances_ court looters. attorney general
<br />I ;mans or rnterpreticc letters ecuceiri nb the puhlic health, sa@ty, welim, environment or a hazardous substance and
<br />(2) hazardous Substance mcans any toxic, lmhoacliwe or hazardous mammal. waste, pollutant or contaminant which has
<br />characteristics which render the substance dmryeoovs or potentially dangerous to the public health, safety. welfare or
<br />environment The term includes, without Jinntabor, any substances defined as' "hazm'do., material," "toxic substances."
<br />"hazardous vraste" oo "hazardous substance" under any fro iionmental Law_
<br />Tuuslor represent,, 11111,111 mid agrees that
<br />v. I xcept as pars loud} disclosed and Licknmvledgctl in writing to Beneficiary, no Hazardous Substance is or will he
<br />located. stored or released o l or in the Pooperty- I Ills restriction does nut apply to small quantities of Hazardous
<br />Substances that are generally recognized to be appropriate for the normal use and nininmnance of the Property=.
<br />B_ Except as previously disclosed and acknowledged in writing to Beneficiary. Trustor and every tenant lace Moen,
<br />arc, and +hall femain in full compliance will any applicable Envinnumenlal Law.
<br />C'. 'rustor shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on.
<br />render or about the Properly, or (here is a violation of any Environmental, Laic concerning the Property_ In such au
<br />event. 'I rustor shall fake all necessary remedjal action in accordance with any I_ii,n onm,ant Lac.
<br />4)
<br />- C465(NE) asor: of
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