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Home My WebLink About1971-021 Lease Assignment-Waiver - NW Acceptance - McGrew Bros Sawmill S OWNER'S WAIVER AND CONSENT Ashland, Oregon day of July _,1971 TO NORTHWEST ACCEPTANCE CORPORATION P. 0. Box 2703 . Eugene, Oregon 97402. (Lender) WHEREAS the above Lender has entered into a Loan Security Agreement with McGREW BROTHERS SAWMILL, INC. Borrower, and as ! security for said loan Borrower has granted Lender a Security Interest in the following described personal property; I See Exhibit A attached hereto and i ! by this reference made a part hereof j' hereinafter referred to as "chattels" now or to be installed or kept at: Mistletoe Road more fully described in Exhibit A attached 'n and b_v this reference ma_d_e a part hereof. _ (Full local address of Borrower) The undersigned owners of the real proper y, in consideration of the loan by Lender to Borrower, consent to the granting by Borrower of a security interest j to Lender in said chattels and consent to any installation and delivery and do waive and relinquish unto the said Lender and assigns, all claims and demands of every, kind against the chattels now installed or hereafter to be installed, this waiver to continue until full compliance by said Borrower with all the terms and conditions of said laon security agreement. The undersigned agrees that . said chattels shall not become part of the freehold but will remain personal property, and may: be repossessed by lender and assigns at any time. WITNESS our hand and seal the day and year above written.' CITY OF ASHLAND (L•S•) BY: " Mayor.' Signed, sealed and delivered in the presence of; j EXHIBIT A Page,1 All buildings, machincry, ciiuirxrellt ; f:Lxtul'CS nOIJ O\Nne (a d j9n her after acquired, including, but not limited to chippers, pullers, barkers, bark hogs, log deck transfers, rolls, log carriages, deck saws, edifiers, eadrlgs, saws, rollers, planers, saw deck machinery, lurn'r,er transfers, compressors, r I` 7. power panels, chip and sawdust recovery systems, bins, . blOWBYS, blower systems, conveyors. burners. grinders, air i' Compressors, shal:penerp. welders, • Gore d y kiln equipment, kiln trUC1CS, boilers, iC2de]"u, pipe and fittings. planers, trimmers, moulders, blow hogs, shavings bins, all :op equipment, all lubrication rack equipment, all fuel pum-D i nqu{.pmonnG, Piro nyC:tamo, hoists, scales and truck C•l: sherS: A por-Lion of the above described 'equipment, including but not limited to the buildings, is f2xcd or to be affixed to the real property described on Exhibit A, Pa,e 2 by this ra o encc IL made a part hereof. , i j i• :i EXl-IIBIT 1 A Page 2 ~ TRACT 1: Commencing at a point on the northcastoriy line of the PDc.lfic Highway 499, which point is 1233.0 feet north of the quarter cor.-ner common to sections 14 and 23 in township 39 south, range 1 cast of the Willamette Meridian in Jackson County, Oregon, thence south 560 13' cast along said highway right-of-way, line 818.6 feet to the east sideline of a proposed street, thence north 197.1 feet to the true point of beginning; thence north 528.9 feet; thence south 56013` east 794.2 feet to the west line o tract described in volume 159, page 115 of the Deed Records of Jackson County, Oregon; thence. south 130.0'feet; thence north 660 18' west 661.13 feet to the true point of beginning. SUBJECT TO: That part lying within public roads. i The effect of said property, or any part thereof, lying within the Talent Irrigation District, and subject to all water and irrigation rights,' easements for ditches and canals, and all regulations of said District. TRACT 2: Beginning at the northwest corner of Government Lot 4 in section I~ 14, township 39 south, range 1 east of the Willamette Meridian in Jackson County, Oregon; thence south 186.5 feet; thence east 266.6 feet, more or less, to the westerly side line of the Southern Pacific Railroad right- of-way; thence north 110 west 190 feet,.more or less, to the north line of said government lot 4; thence west along the northerly line of said govern i ment lot 4 a distance of approximately 251 feet to the place of beginning, r . k containing 1.06 acres of land, more or less. I SUBJECT TO:. j That part lying within public roads. 'i "Covenants that no mill waste, sawdust, or slab of any kind shall ever be burned on above described real property,.and in event this covenant is k, violated, said real property shall revert to the grantors herein, their heirs and assigns, and all rights of the grantee hereunder, his successors heirs and assigns; shall thereupon terminate," as set out in deed recorded in Volume 336 page 250 of the Deed Records of Jackson County, Oregon. The effect of said property, or any part thereof, lying within the Talent f Irrigation District; and subject to all water and irrigation: rights, ease- ments for ditches and canals, and all regulations of said district. i• t TRACT 3: Beginning at the Northwest corner of Government Lot 4.in Township 39 South, Range 1 East of the Willamette Meridian in Jackson County, Oregon; thence South 251.0 feet;.thence North 56013' West 1588.4 feet to the West line of the Southeast quarter of Section 14; thence Nort' along-said West line 474.0 feet; thence East 1120.0 feet; thence North 455.0 feet to an intersection with the southerly line of the Southern ~i Pacific Railroad right-of-way; thence Southerly along said right-of-way line 1850.0 feet to a point due East of the.point of beginning; thence li West 231.0 feet to the point of beginning. Ii i! SUBJECT TO: A 40 foot road from adjoining City property leased to Thomas J. Parker & Associates, Inc., Pacesetter r-iom~s, Inc., the Oregon State Fortis' Service and the Ashland Acres Riding Association, to I3ighway 99. J EXHIBIT A Page 3 :I TRACT 4: Beginning at the center of Section 14 'in Township 39 South, anTt I East of the Willamette Meridian in Jackson County, Oregon; thence South 120.0 feet to the true point of beginning; thence East 300.0 feet; thence North 220 West 126.0 feet; thence North 110 40' West 25.0 feet; thence North 470 00' East 720.0 feet, more or less, to the Southerly right- of-way of the Southern Pacific Railroad; thence Southeasterly along said right-of-way 450.0 feet, more or less, to the most Northerly point of land presently leased by McGrew Bros. Sawmill, Inc.; thence South 455.0 feet; thence West 1120.0 feet; thence North 80.0 feet to the true point of beginning. SUBJECT TO: (1) A 40 foot road right-of-way as presently surveyed and used along the Westerly side of the above described land. (2) Eastment to City of Ashland for water pipeline' purposes. (3) Subject to existing power line easement. I i i i i I ASSIGNMENT OF LEASE FOR VALUABLE CONSIDERATION, the undersigned (Assignor) hereby assigns unto NORTEEgEST. ACCEPTANCE CORPORATION (Assignee,) its successors and assigns, all of its right, title and interest in, to and under that certain lease dated February 19th, 1963, between CITY OF ASHLAND as Lessor, and the undersigned, as Lessee, covering the premises known as Mistletoe Road V and as more particularly described in said lease. TO Ii4VE AND TO HOLD said lease and the premises unto said Assignee, its successors and assigns, from this day forward for the remainder of the term of said lease and any renewals and/or extensions thereof. This Assignment is executed and delivered to the Assignee only as security Note and Loan Security for a Agreement executed by Assignor in favor of Assignee. Assignee may take, possession of the premises in the event of any default by Assignee in its obligations to Assignee under said security agreement. Said right to take possession shall be exercised by giving written notice to the assignor and Lessor. It is understood and agreed that Assignee does not assume and shall not incur any liability for the payment of rent and shall not be obligated to perform any of the other obligations and shall not.be subject to any covenant or condition imposed by the lease or otherwise until such time as Assignee gives the written notice and actually takes physical possession of the leased premises for the purpose of conducting a lumber business therein. However, Assignee shall be liable for $50.00 annual .rental payment, but for no other obligation, covenant or condition contained in the lease or otherwise, during any period Assignee physically occupies the premises for any other purpose. Assignee shall have an absolute right to terminate the lease at any time following the date it takes physical possession of the premises, upon 30 days written notice to Lessor, upon and after which termination the Assignee shall have no further liability or obligation whatsoever to Lessor. -Assignee's rights hereunder shall survive any re-entry repossession or foreclosure of or upon the premises by Lessor. Notwitnstanding this assignment or any action t I taken by Assignee, the undersigned Assignor is and shall remain fully liable for j all liabilities, obligations and duties of Lessee as provided in said lease. This i. assignment shall terminate upon full payment by Assignor of its obligation to i i Assignee. DATED this tE-~) day of July 19 71 i LESSEE-ASSIGNOR: McGREW BROTHERS SAWMILL, INC. By 'j4 President , The undersigned Lessor consents to the above assignment and agrees to all of the terms and conditions contained therein. Dated this day of July, 1971 i • j LESSOR: CITY OF ASHLAND Mayor i 1