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<br />Fin~,cial ~eports a~~ ,Additional Documents. Trustor will pro,vide to Beneficiary, upon re,quest, any financial statement
<br />or mfonnatlOn B~,?-efl~J.ary may dee~n. reasonably ,?-ecessary. 1 rustor agrees to, sign, dehver, and file any additional
<br />documents or certificatIOns that Beneficiary may consider necessary to perfect, contlllue, and preserve Trustor's obligations
<br />under this Security Instrument and Beneficiary's lien status on the Property.
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<br />6. W A~RANTY OF TITLE. Tru~tor w~rrants that Trustor is or will be lawfully seized of the estate conveyed by this
<br />Secunty Instrument and has the nght to mevocably grant, convey, and sell the Property ro Trustee, in trust, with power of
<br />sale, Trustor also warrants that the Properly is unencumbered, except for encumbrances of record.
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<br />7. DUE ON SALE. Ben~ficiary may, at its ?ption, decl~re the entire balance of the Secured Debt 10. be immediately, ~ue ,and
<br />payable upon the creatIOn of, or contract for the creatton of, a transfer or sale of aH or any part of the Property. fhls nght
<br />IS subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable,
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<br />8. DEFAULT. Trustor will be in default if any of the following occur:
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<br />Fraud. Any Consumer Borrower engages in fraud or material misrepresentation in connection with the Secured Debt that
<br />is an open end home equity plan,
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<br />Payments. Any Consumer Borrower on any Secured Debt that is an open end home equity plan fails to gla~e a payment __~_
<br />when due. .. -- .-..'--.-.- - .------.-. --..- -.--..-.--.--,...,-.-. ...... ..----,.....,-.-.,.~'--~.'.-...-...-... ,- .._._.~,--
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<br />Property. Any action or inaction by the Borrower or Trustor occurs that adversely affects the ProperlY or Beneficiary's
<br />rights in the Property. This includes, but is not limited to, the foHowing: (a) Trustor fails to maintain required insurance
<br />on the Property; (b) Trustor transfers the Property; (c) Trustor commits waste or otherwise destructively uses or fails to
<br />maintain the Property such that the action or inaction adversely affects Beneficiary's security; (d) Trustor fails to pay taxes
<br />on th~ Prope~y or otherwise fails to act and there~y cause~.a lien to be filed against the Property th~t is senior to ~h~ lien
<br />of thiS Secunty Instrument; (e) a sole Trustor dies; (f) If more than one Trustor, any Trustor dIes and BenefiCiary's
<br />sec':!rity is adversely affected; (g) the Pr?perty is taken throu~h eminent .d~main;. (h) a judgm~nt is ~'iled. against Trustor and
<br />subJects Trustor and the Property to actlOn that adversely affects BenefiCiary's lllterest; or (I) a pnor Itenholder forecloses
<br />on the Property and as a result, Beneficiary's interest is adversely affected.
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<br />Executive Officers. Any Borrower is an executive officer of Beneficiary or an affiliate and such Horrower becomes
<br />indebted to Beneficiary or another lender in an aggregate amount greater than the amount pennitted under federal laws and
<br />regulations.
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<br />REMEDIES ON DEFAULT. In addition to any other remedy available under the tenns of this Security Instrument,
<br />Beneficiary may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Trustor
<br />is in default. In some instances, federal and state law will require Beneficiary to provide Trustor with notice of the right to
<br />cure,. or other notices and may establish time schedules for foreclosure actions. Each Trustor requests a copy of any notice
<br />of default and any notice of sale thereunder be mailed to each Trustor at the address provided in Section I above.
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<br />;'\t. the ,option of the Beneficiary, a~1 or ~ny part or th~ .agree~ fees and charges, accrued interest and principal shaH bec<?me
<br />ImmedIately due and payable, after glvmg nolIce If reqUIred by law, upon the occurrence of a default or anytime
<br />thereafter,
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<br />If there is a default, Trustee shaH, at the request of the Beneficiary, advertise and sell the Property as a whole or in
<br />_____~ se~at~te ..p!l:r_c~ls ~L.Public auction to the highest bidder for cash and convey absolute title free ~nd clear of all . rig!!!., titl~_..___.~
<br />- an lllterest oITrustor at such tune and place as I rustee deSignates. 'I rustee snail give nottce of sIlk lllcludlllg The 1l:Im("
<br />tenns and place of sale and a description of the property to he sold as required by the applicable law in effect at the time of
<br />the proposed sale.
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<br />9.
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<br />Upon sale of the Property and to tbe extent not prohibited by law, Trustee shall make and deliver a deed to the Property
<br />sold ,?,,~ich conveys absolute title to the, purchaser, ,and after ~'irst paying all fees, ch~rges and costs, shall ,pay to
<br />BenefiCiary all moneys advanced for repalfs, taxes, lllsurance, hens, assessments and pnor encumbrances and ,"terest
<br />thereon, and the principal an,d in~erest on the Secured Debt, paying, the . su.rplu~, if any, to Trustor.. Benefici~ry may
<br />purchase the Property. The reCitals III any deed of conveyance shall be prnlla laCle eVidence of the facts set forth therem.
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<br />The acceptance by Beneficiary of any sum in payment or partial payment on the Secured Debt after the balance is due or is
<br />accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Beneficiary's right to require complete
<br />cure of any existing default. By not exercising any remedy on Trustor's default, Beneficiary does not waive Beneficiary's
<br />right to later consider the event a default if it happens again.
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<br />10. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. If Trustor breaches
<br />any covenant in th~s S~curity ,nst,rument,. Trustor agrees to pay all expenses Beneficiary i.nc';lrs in performing su~h
<br />~ovena!lts or prote~tlllg Its secunty mterest .m the Property. Such expe,?-s~s lllc1ude, ~ut. are not IlTlIlted to, fees lllcurred for
<br />lllspectmg, prcservlllg, or otherWise protectlllg the Property and BenefiCIary's secunty mterest. These expenses are payable
<br />on demand and will bear interest from. the date of payment until paid in full at the highest rate of interest in effect as
<br />provid~d in the t~nns of the ~ecured D~~t. 'l'rus~or agrees to p~y all costs ,and exp~nses incurred ?Y., Beneficiary in
<br />~oIIectlllg, eJ?-forclll~ <;Jr protectlllg BenefiCiary's nghts and remedies under thiS Secunty Instrument.. I hIS amount l~laY
<br />lllclude, but IS not lunlted to, Trustee's fees, court costs, and other le~al expenses. To the extent penllltted br the Ulllted
<br />States Bankruptcy Code, Trustor agrees to pay the reasonable attorneys fees Beneficiary incurs to collect the Secured Debt
<br />as awarded by any court exercising jurisdiction under the Bankruptcy Code, This Secunty Instrument shall remain in effect
<br />until released. Trustor agrees to pay for any recordation costs of such release.
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<br />- --- ~T.-"ENvm.ONMENT'...tL~*WS-AND--HAZARDoUS-SUnsTANCES. As used in this section,' (1) [;n;'ironme.u!<ll Law
<br />means, without limitation, the Comprehensive EnviroumentalResponse, Compensation and Liability Act (CERCLA, 42
<br />U .S.c. 9601 et seq,), and all other federal, state and local laws, regulations, ordinances, court orders, auorney general
<br />opinions or interpretive letters concerning the public health, safety, welfare, enviromnent or a hazardous substance; and (2)
<br />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 tlie public health, safety, welfare or
<br />environment. The ternl includes, without limitation, any substances defined as "hazardous material," "toxic substances,"
<br />"hazardous waste" or "hazardous substance" under any Envirolllnental Law,
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<br />Trustor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to I~eneficiary,no HazardOUS Substance is or will be
<br />I?cated, stored or released on or iJ?- the Property. T,his ~estri~lipp'aoes"llofapply, to s.\llall quantities of Hazardous
<br />Substances that are generally recoglllzed to be appropnate for the nonnal use ~nm.lp.tenance of the Property.
<br />B. Except as pre,,:io';lsly disclose~ and a~knowledge.d III w~iti,?-g tlt. BeIwfici~ry" Trustor a,nd every te..M.' . ut have been, are,
<br />and shall remallllll full comphance With any apphcable EnVironmental Law. . . .
<br />C. Trustor shall immediately notify 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. I n such an
<br />event, Trustor shall take all necessary remedial action in accordance with any Environmental Law.
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