|
. :-a,;.:�.� :., r: ` �
<br /> �: G�._,
<br /> -.�� _ - _ - _�- - . - -- -� -f s - _ .
<br /> � __�,� .i _ ., �_.w.��-�..�.._._ - _�.k�r_----__�.__-._ �i_.�._...._� t ! .� �.
<br /> . . . .. .�`- - -- ,+�'- -• -
<br /> _ . . - .�y.` �.. -
<br /> � . � ° 15.�le R�dions. . , : .�
<br />-- • _ Meccill Lyns�Uas the right under certain cinaimstancc.a spetified in the Credit Documents to(a)sutomatically terminate - - - - - ---_
<br /> _- the Accaunt and ceqair�n�paymetu of aay�muuu[s autssaading undes the Acxoant.Plas the entire asccued interest.tace�of the � _ - -_
<br /> � o t h e r c 8 a r geg l m posed on the Account, (b)Pmlubit additional eatensions of ctedit without requising accelerated payment � � . . . _ , .
<br /> . . amounts outstaading under the Acaount('freeze°the Accauat)or(c)zeduce the c r e d it limit on t h e Acco u n t. � .
<br /> . . . 4 ,.
<br /> s•� ,.�` � (e) PIOTICE. Me;n11 Lync�a+ill have the rig6t to terminate.temgosarUY or permanently free�e,or reduce the c�edit . .:� �
<br /> n1
<br /> � an Me�riIl L nndce w us and to the peisons who sign t3�e Agccemeat(see pa�ug�aph Il � . :�` -.`.<
<br /> IImit ia the Acoount imtaediatelY uP Y��►g ...<< ._ • . .
<br /> ' � abave)of one of the events 1[sted in paragraph IStb)betow. Pazagraph 15(c)sPecifies additional circaimstauces uader which Merritt � � �-�,. _
<br /> � P agrap
<br /> :,�.--�""° Lynch may temporarily fine�ae ar reduce the credit limit in the Acoount. Actions under paragraph 15(c)nced not be preceded by the � - • .
<br /> - - --.-- notice specified ia this snbgazagraph. -
<br /> _ .. . (b) '�VA'ITON AND ACCELIItATIOPI. Mercill Lynch caa terminate the Aocount and demand r�PeY�of� .�:- ::. .: :�,,.'`
<br /> " � , . :
<br /> , , the entire outstaading ba3ance in adwance of the original teim if: . ,�;:�
<br /> .f,
<br /> - � (A) The pasons who siga t1re Agreement fail to meet the repa3+ment terims under ttte Cnedit Documenls; . % ' ;;,;',:'�,'
<br /> exoepi that+uader this subparagcapb only.there is a thirty(30)da7+S�P�ad wit6in whirh Mem11 • 4� �_
<br /> ara ap
<br /> �. . ; Lynch will not terminate the aocount and wbich begins to nm on the day after the notice is given and � �
<br /> �� • .` expires at 11:59 p.m. Fastem ti�me on ths last day of the pedod;oT _ - . : "�. -
<br /> g f� -
<br /> . �.r�-.�_
<br /> - .. (B) Mem'll Lynch receives actual knowledge that the getsons who sign the Agreement have intentionally -
<br /> ' - � (i)omiued material iafo:matioa from,or ia connectlon with,their credic agplicazion,(ii)made anY . ---
<br />;;�i',, - - -;� material statemeuta that are false or misleadiag on,or in comieaion witb,their credit applicffiion,(iii) :���,�-
<br /> �3 commiued azry fiaud or made aay material mism.presentation in coanecdon with the Acxount;or � —
<br /> �:,; - ��
<br />.=� , .. ' `:; , ' ' �i�.
<br />- .. -'�"• (Cq �thout ttis prlor writteu oonsent of Menill Lynch,(�we,or airy peisoa►who signs�the Agreement, _ :::�_:�,�,._.
<br /> ag�ee to seU,uansfer or assiga the Property or any interest in die ProPertY,or('s�the Property or aay � . >� -
<br /> .. .%' •,��:�
<br /> � inierest in the Praperty is sold,aansferred or assigned;or , �--
<br /> . . �r_�<<F e:
<br /> ;. ..�: � ;� �
<br /> ._ . � .��`.is (p) VNe or any peison who sigas the Agr�esn�fails w maintaip ins�raace on the daelling as reqaired t��.:
<br />�`�� . � under pazagraphs 4 and 6 of the i�d of Tr�ut;or ,��_�-`
<br /> ? �( (� We or any peison who sigus the Agrcement commits waste�or pemiits impaitment or deterloration of � t� -,;.
<br /> ��' ; '` the Propetty, or othezwise destr�ctively ases the Properry. such that Merrill Lynch's security is � , .3,�=:�
<br /> . � � adversety affected:ur •, . . '•'�-
<br /> �•�„-
<br /> . . (� R►e or a�+petson who s3gus the Agrecmenc fails to pay taxgs on the Property or takes soms other :- �;;,,e�''_
<br /> , , � - actioA that resalts ia the filing of a lien senior to that of Mem'll Lynch which adversely affects Metrill ;:;;j;. •:;r�
<br /> _ .� - 1-Ynch's securitYt°r . �=�-::-
<br /> . - �. �, 4'�:.....-
<br /> • ' =� (G) A judgnent against us is filecl,If the amount of the judgment and the collatepal subject to the judgme�is '•. .:_��'?
<br />.. . . sucb that Merrill Lynch's security in the Property is adversely affected;or , , � ';�:_
<br />_ ��-
<br /> ' . ' � (H) Aay action or iaaction by us or any person signing the Agreement is taken that adversely aff�cts ',. -__-
<br /> t�. � :;t Metrtll Lynch's securlty for the Account or any right of Merrill Lynch Us such securlry. � . r_
<br />- , ''�/ ., •-�_._
<br /> As zm xfteraaave remedy.aad oaly if MertW Lynch expressly states in the nodce grven under tLis patagraph,MeniU Lyncb may �
<br />;..��: . .� te�ararily or permanently freeze the Accouat or reduce the credit limit for the Accou. if Menill Lynch does not immediatety •;';;::.' .,�. '
<br /> `±:'' ' .� tenninate the Acca�.iat and accelerate payment or take oiher actioa provided for in the Cred:�s Dacuments,it t�as the rlght to take atry of ,z``.'."�. •
<br /> ' �#, the permitted acaiQ3s at a later time providing the wadidon altowing fot termination of the Account and acceleratlon of payment stiU
<br /> , � exists as that tlme. �
<br /> � � In addition,despite aay other ternis of the Credit Dacuments.Merrill Lynch may freeze We Account immediately upon ,
<br /> � f the occurrence of aay vtolation or other event specif ied in this P�&�Pb• Me1riU Lynch caa take this aaion wIthoat giving us aotice -. �
<br /> ,_ • ' � and without dec:z�ing that the violanon or other event allowa Merrill Lynch to term9nate the Account aad accelerate paymeat. ; ,
<br />,.. ; . . '.
<br /> . _ �� If Merrill Lyneh termiaates the Account.the amounts ouutanding under ttte Account and any other amounts ouutanding '
<br /> under tfte Credit Documents are immediately due aad payable in full,and we will be required to immediately repay such amounts
<br /> ,` � � plus the entire accrued interest.late charges and other charges imposeA on the Account. If we do not do so.Merrill Lynch will have .
<br />: � j the ri�ht to invoke sury remedy given it by any of the Credit Documents,or any other remedy avazlable to Metrill LyncH uader
<br /> . . � •-� applicable law. Ttils includes.without limitation,invoking the power of sale under this Deed of Trust.
<br /> . ih all credit card(s) and �. •
<br /> � If Merrill Lynch terminates or permanently freezes the Account, pursuant to this paragrap ,
<br /> unused checks obtained in connection with the Account must be immediately mailed to Merrill Lynch at the address specified on nur
<br /> • � most recent billing statement. ln any eveat.onc�Merrill Lynch freeus or terminates ihe Account under this para�rapb,the persons .
<br /> • :j who sign the Agceement will no longer have any ri�ht to obtain additional advances uuder the Account. .
<br /> ' Merrlll Lynch shall be entitled to collect all reasonable costs and expenses inwrred in pursuing the remedies provided in . ,
<br /> ' � 'i this paragraph. including,but not limited to.reasonable attomeys'feee and the entim accrneal interest,late charges and other charges
<br /> •- � ' anposed on the Account. ln the eate of a foreclosure sale.the Property may be sold in one parcel. �
<br /> �. � _5_ , .
<br /> ; : � � ' '
<br /> ,
<br /> . �,
<br /> � •• �
<br /> - � � �
<br /> _ �
<br /> - - �=---=
<br /> �
<br /> . � • ' " . • ' ' . .t . _ _ ia���vr�r+y ���`; •�ry.
<br /> .. . . . .. � .. . . ' .. .. �.�..._ ' . ... . � .... . .. •• . _ . . . . _.. . . . . .. . . . ..• .. . .
<br />
|