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<br /> j �c� '�'L'MPOYtARY CI�ECZING OF'd'HC �CCOl1NT OR RGDUCTION AN CREDIT LIMIT. Merrill ,.
<br /> Lynch ean(a)feeeze the Accoun[;or(b)reduce Uie creJi�limit available to persons si�ning the Agreement dunn�any period in ; �
<br /> �vbich: , ,-
<br /> (1) the valuc af�he Property declines signific<�+ntly below its appraised value for purposes of the Account;or -
<br /> ' (2) Mcrrilt Lynch ec�sonably bclieves that wc or any person who sign�the Agreement will be unable to ,
<br /> � , fulfill the repayment obligations under th$Accuun� bccausc of a matari�i change in our financial circumstances or the
<br /> finnaclal circumstances of any person who signs[he Agreement; or
<br /> „ �"` (3) wc or any person who signs the Agrecment is in defaul[ of any materi�l obligation under the , �'
<br /> . ' pgreement;or -
<br /> (4) governraent action prevents MerriU Lynch from imposing the annual percentage rate set forth in the : ; � :
<br /> Agreement:or , '``�"�'�"� �
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<br /> � (5) governmen[actian impairs Merrill Lynch's security interest in the Property to the extent that the value of , :;�::,��—_
<br /> the securiry interest is less than 120 percent of the credit line;or i�=H�•�---`n"="—
<br /> � -Y. .,-- --- _
<br /> . . (6) a federal or state regulatory agency notifies Merrill Lynch that continued advances would constttute an __- v
<br /> . � unsafe and unsound practice;or ��
<br /> .��::
<br /> t, ��-•-w�.,:_
<br /> (7) the annual percentage race rzaches the maximum allowed under the Agreement. �_s�+_,��.v
<br /> • �•� -,;:.;; -
<br /> � .� Merrill Lynch need noc reinstate credit privileges or increase the credit limit available unless we rec�uest such - , ,�, �
<br /> ,.,... :
<br /> � reinstatement�nd,after investigation,Memll Lynch decermines that the condition no longer exists. ;.,� �
<br /> •,�g,�.�:
<br /> �'- If Merrill Lynch temporarily freezes tii�Acc�unt or reduces our credit limit,we will not be obligated to repay the .�;�;.z,;�i.;.
<br /> .� �.;,,;,
<br /> ' � amounu outstanding under the Account un[il the date such amounts are due,as specified in the Agreement. , _
<br /> ;� �:
<br /> _ S�� If Menill Lynch temporazily freezes the Account, pursuant �a this pazagraph, Merrill Lynch may, but is not i �
<br /> y° � required to,notify us that nU credit card(s)and unused enecics obiainC�i�„e�r�r«ctian�:iih Yhe.°.r�a�:.."t�^�� !!+�'+_mmediately � , .
<br /> . � �.� �
<br /> �
<br /> malled to Merrill Lyvch At che address specified on our most receiit billing statement. If Merrill Lyach exercises this ��;;,
<br /> option, and credlt privileges are later reinstated, Merrill Lynch will issue checks and/or card(s) in accordance with the <1� ;�••
<br />- p r o c e d u r e s d e s c ri b e d in par�gra ph 5. In any event, once Merrill Lynch temporarily freezes tl�e Account under this , ,.•
<br />". � paragraph, thc persons who sign the Agreemcnt will no longcr have any ri�h t to o b t a i n a d d i t i o n a l a d v a n�u n d u t h e : ,t.:.
<br /> . • Account until credit privileges aze reinstated. ; :T:t
<br /> �,;-..
<br /> /, IF MERRI�.I.LYNCH[N VOKES TME POWGR OF SALE UNDER THIS DEE'J OF TRUST.MERRILL LYNCH �;'=
<br /> � SHALL E7CEGUTF OR CAUSE TRUSTEE TO EXECUTE A WRITTEN NOTICE SPECIFYINCi, �VI'CHOUT __ _
<br /> LIMITA'TION, THE FOLLOWING: (a)THE OCCURRENCE f�ND NATURE OP AN EVENT OF DBFAULT: (b)
<br /> MERRI�.L LYNCH'S ELECTION TO ACCELERATE THE DEBT EVIDENCED BY THE A(iREBMENT AND TO �.,�:aF-
<br /> - � � � � � CAUSE THE PROPERTY TO EE SOLD; AND (c) OUR RIGHT, IF ANY, UNDER AFPLICABLE LAW, TO
<br /> - ' --`-` - - RETNSTATB THE ACCOUNT AND AVOID SALE UF THE PROPEItTY, MERRILL LYNCH SHALL.CAUSE SUCH
<br /> =J�'°"'` ` NOaICE TO�BED SHALL HA E OPIES OFNSUCH NOTICE MAILED TO THE PERSONS IN THE MANNER _.,_
<br />�-', .. � LOCATED. -
<br /> - PRESCRIBED aY APPLICABLE LAW. __
<br /> � u � IF WE ARE PERMITTED, UNDER APPLICABLE LAW, BUT FAIL TO REINSTATE IN ACCORDANCB . �--_
<br />- -.`.,:;';�,,. WITH THE TERMS O� THE NOTICE REQUIRED ABOVE IN THIS PARAGRAPH 15. OR IF WE ARE NOT R.�,
<br /> ;>A•-';,�;,:i. °-'; . pEItMITTED TO SO REINSTATE,TRUSTEE SH ALL GIVE PUBLIC NOTICE OF SALE OF THE PROPERTY TO TN� �;,::�:
<br /> '•' PBRSUNS AND IN THE MANNER PRESCRIBED BY APPLICABLE LAW. AF't'fiR THE LAPSE OF SUCH TIME AS �u,���
<br /> MAY IIE REQU[ftED BY APPLICABLE LAW,AND OUR FAIWRE TO ItEDEEM THE PROPERTY BY PAYING TO - ,,,_�
<br /> . rw �__ _ r.--•-
<br /> ` MERRILL LYNCH ALL SUM5 SECURED BY THIS DEED OF TRUST 'fOGETHBR WIT�I ALL COSTS AND s��??z^�
<br /> '` W__��_.����.
<br /> ; � _ a �' EXP$NSFS INCURRED BY MERRILL LYNCH AND FOR WHICI�IT IS ENTITLED TO REIMBURSEMENT,UNDER �-,.,�-_._�
<br /> ' � APPLICABLE LAW, TRUSTEF SHALL, WITHOUT FliRTHER DEMAND ON OR NOTICE TO US, SBLL THE -�'.�,'� M+�"ny�::
<br /> `'�' • PROPERT'Y AT PUBI.IC AUCTION TO THE HIGHEST BIDDER AT TI�E TIA4E AND PLACE AIJD UNDER TH$ � �'� .�ux�_ w
<br /> . '�.. i-I ORDER AS ���>�..,
<br /> � j��, TERMS DESIGNATED IN'Y'HE PUBLIC NOTICE OF SALE IN ONE OR MORE PARCELS AND IN SUC ,t�.-y��.r;=
<br /> • TRUSTF.EMAYDETERMINB.TRUSTEEMAY POSTPONESALEOFALLORANYPARCELOFTHEPROPEIt'TYBY �. u�,��tl: :
<br /> � ' � PUBLIC ANNQUNCEMENT AT THE TIME AND PLACE OF ANY PREVIOUSLY SCHBDULED SALE AND FROM � •;;;k�,:�::;
<br /> � � TIME TO TIMfi THERBAFTER MAY POSTPONE SUCI-I SALE BY PUBLIC ANNOUNCEMENT A'T'PHE TIME �
<br /> � �-::,;� .., .
<br /> FIXED BY T'HE PRECEDING POSTPONEMENT. MERRILL LYNCH OR MERRILL LYNCH'S DL7SIGNEE MAY :, °;; %:
<br /> .. .
<br />� FURCHASE THE PROPERTY AT ANY SALE. � . .
<br /> _ ..•:. .:.,
<br /> . .. ,,<.,,
<br /> __ . TRUST�ESHALLDELIVERTOTHEPURCHASERATRUSTEE'SDEEDCONVEYINGTHEPRQPERTYSO •
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<br /> SOLD WITHOUT ANY COVENANT OR WARRAN'CY, �Xt'K����u vn tmra.ic�. an� ,.�..►.�...., _.. .._.. ----- - --- --
<br /> TRUSTEE'S DEED SHALL BE PRIMA FACIE EVIDENCE OF THE TRUTH OF THE STATEMENTS MADE „
<br /> T'HEItEIN. TRUSTEE SHALL APPLY THE P[tOCEEDS OC THE SALE IN THE FOLI.OWING ORDER:(A)Ti0 ALL
<br /> REASONABLfi COSTS AND EXPENSES OF THE 5ALE, 1NCLUDING, BUT NOT LIMITED TO. REASONABLE •-
<br /> TRUSTEB'5 AND ATTORN�YS' FEES AND COS'tS OF TITLE EVIDENCE, ALL AS AND TO THE EXTENT •
<br /> - PBRMIT'fED BY APPLICABLE LAV1�;(B) TO ALL SUMS PAYAE3LE PURSUANT TO PARAGRAPH 6 AND 27 OF -�
<br /> THIS DEED OF TRUST; (C)TO INTEREST PAYABLE UNDER THE AGREEMENT; (D)TO OTHER CHARGE3
<br /> PAYABLE UNDER THE AGREEMENT;(E)TO TFIE PRINCIPAL PAYABLE UNDER TFiE AGREEMENT;AND(F)
<br /> - THE EXCESS IF ANY,7'O TFIE pER50N OR PFRSONS LEGALLY ENTITLED THERETO. ,
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