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200209505
<br />Financial Reports and Additional Documents. Trustor will provide to Beneficiary upon request, any financial
<br />statement or information Beneficiary may deem reasonably necessary. Trustor agrees to sign, deliver, and file any
<br />additional documents or certifications that Beneficiary may consider necessary to perfect, continue, and preserve
<br />Tmstor's obligations under this Security Instrument mid Beneficiary's lien stums on the Property.
<br />fi. WARRANTY OF TITLE. Trustor wartands that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Security Instrument and has the right to irrevocably grant, convey, and sell the Pro perty to Trustee, in trust, with power
<br />of sale. Trustor also warrants that the Property is unencumbered, except for rotation rances of rceud.
<br />7. DUE ON SALE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to he immediately due
<br />and payable upon the creation of or contract for the creation of a transfer or sale of the Property. This right is subject
<br />to the restrictions imposed by federal law 112 C_I'_R 591), as applicable -
<br />g. DEFAULT. Trustor will be in default if any of the following occur:
<br />Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt
<br />that is an open end home equity plan_
<br />Payments. Any Consumer 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 Trustor occurs that adversely affects the Property or Beneficiary's
<br />rights in the Property, this includes, but is not limited to, the following: (a) Trustor fails to maintain required
<br />insurance on the Property; (b) Trustor transfers the Property; (c) Trustor co omits waste or otherwise destructively uses
<br />or fails 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 act and thereby causes a lien to be filed against the Property that is
<br />senior to the lien of this Security Instrument; (e) a sole Trustor dies; (L) if more than one Trustor, any Trustor dies and
<br />Beneficiary's security is adversely affected; (g) the Property is taken through eminent domain; (h) ajudgment is filed
<br />against Trustor and subjects Trustor and the Property to action that adversely affects Beneficiarv's interest; or (i) a prior
<br />henl, lder 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 mid 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 DEFAULT. In addition to any other remedy available under the terns of this Security Instrument,
<br />Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if
<br />Trustor is in default. In some instances, federal mid state law will require Beneficiary to provide Trustor with notice of
<br />the right to cure, or other notices and may establish time schedules for foreclosure actions. Each 'I rustor requests a copy
<br />of any notice of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section 1
<br />above.
<br />At the option of the Beneficiary, all or any part 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 or
<br />anytime thereafter.
<br />If there is a default. Trustee shall, at 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 mid convey absolute title free mid clear of all right, title
<br />and interest of 'I rustor at such time and place 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 he sold as required by the applicable law in effect at the time
<br />of the proposed sale.
<br />Upon sale of the property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the Property
<br />sold which conveys absolute title to the purchaser, and after first 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 Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth
<br />therein_
<br />The acceptance by Bcncficiary of any sum in payment or partial payment on the Secured Debt after line balance is due or
<br />is accelerated or after foreclosure proceedings are tiled shall not constitute a waiver of Beneficiary's right to require
<br />complete cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does not waive
<br />Beneficiary's right to later consider the went a default if it happerN again.
<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If victor breaches
<br />any covenant in this Security Instrument, Truster agrees to pay all expenses Beneficiary incurs in performing such
<br />cmenants or protecting its security interest in the Property. Such expenses include, but are net limited to, fees incurred
<br />for inspecting, presening, or otherwise protecting the Property and Beneficiary's security interest_ 'I These expenses are
<br />payable on demand and will bear interest from the date of payment until paid in fill at the highest rate of interest in
<br />effect as provided in the terns of the Secured Debt. Trustor agrees to pay all costs aid expenses incurred by Beneficiary
<br />in collecting, enforcing or protecting Beneticiary's rights and remedies under this Security Instrument_ This amount may
<br />include_ but is or limited to, Trustee's fees, court costs, . and other legal expenses_ To the extent permitted by the
<br />United States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys' fees Beneficiary incurs to collect the
<br />Secured Debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. This Security Instrument shall
<br />remain in effect until released. Truster agrees to pay for any recordation costs of such release
<br />IL ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means. without limitation, the Comprehensive Fnvirnnmental Response, Compensation and Liability Act (CERCLA, 42
<br />IT_S.0 9601 el scq.), and all other federal, state mid local laws, regulations, ordhunces, court orders, attorney general
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; mud
<br />(2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has
<br />characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or
<br />enviromnent. The term includes, without timimtion, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Fnvirnnmental I aw.
<br />Trustor represents, warrants and agrees that
<br />A. Except as previously disclosed mid acknowledged in writing to Beneficiary, no Hazardous Substance is or will be
<br />located, stored or released on or in the Property. This restriction does not apply to small quantities of Hazardous
<br />Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property.
<br />B Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every Iciant have been,
<br />are, and shall remain in fill compliance with any applicable Environmental Law.
<br />C. Trustor shall immediately nobly Beneficiary if a release or threatened release of a hazardous Substance occurs on,
<br />under or about the Property or there is a violation of any Environmental law concerning the Property. In such an
<br />event, Trustor shall take all necessary remedial action in accordance with any Environmental Law. y�
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