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HomeMy WebLinkAbout1996-029 Warranty Deed-RatclifeJACKSON COUNTY TITLE DIVISION CONTINENTAL LAWYERS TITLE COMPANY 370 LITHIA WAY ASHLAND, OREGON 97520 TEL:(503)488-2240/FAX:(503)488-1786 Feb. 26, 1996 CITY OF ASHLAND 20 N. Main Street Ashland OR 97520 Re: Escrow No. LA-65956 Dear Barbara Christensen: We are pleased to advise that the above numbered escrow has been completed, and the following items are enclosed as indicated: 2. 3. 4. 5. Our Check No. 41073 in the amount of $63.10. Escrow Settlement Statement. Deed recorded 2/22/96 as Document No. 96-05493. Copy of Note in the amount of $100,000.00. Copy of Instrument securing the above note recorded as Document No. 96-05494 in the records of Jackson County. You will be receiving a completed copy of the collection escrow instructions from the Collection Department shortly, along with coupons for your payments. We wish to thank you for this opportunity to be of service to you, and to assure you that if you have any questions regarding the enclosures, we will be happy to assist you. Sincerely, JT/cf8 CONTINENTAL LAWYERS TITLE COMPANY JACKSON COUNTY TITLE DIVISION 370 LITHIA WAY ASHLAND, OREGON 97520 FINAL ESCROW STATEMENT OF: Buyer/Borrower: CITY OF ASHLAND Property Location: MAP #391E8AC TAX LOT 103 JACKSON COUNTY, OREGON Close of Escrow: Escrow Officer: 02/22/96 JULIE THOMAS, CoE.O. (L) - Denotes Lender Deducted Fee Escrow No.: LA-65956 Debits Credits CREDITS City of Ashland/Deposit Released Earnest Money .......................... Trust deed with Seller .......................... 21,224.45 1.00 100,000.00 DEBITS Purchase Price .................................. County taxes paid in advance from 02/22/96 to 07/01/96 .................. 129 days at 4.049222 per day Recording of Deed ............................... Trust Deed to CONTINENTAL LAWYERS .... Title Insurance Premium to CONTINENTAL LAWYERS ........................ Settlement or closing fee ....................... Collection Escrow ............................... JACKSON COUNTY TITLE DIVI 120,000.00 522.35 55.00 20.00 55.00 435.00 75.00 Sub-totals 121,162.35 121,225.45 Check Herewith 63.10 TOTAL ...... f, ! ~-"~_~,, · - / ~/x~_~f. . THOM~, C.E.O.' 121,225.45 121,225.45 96-~")5493 ~ ~ TITI~ nnasio~ 502 W. ~n Stz~et (P.O. ~ 218) ~d~o~, OR 97501 (541) 779-2811 KNOW ~T.?. M~ BY TH~E PRESI~TS, ~hat , ALBERT EDWARD RATCLIFFE AND HF, r,R~ G. RATCLIFE hereinafter ~a]led the Grantor, for the cc~siderati~ hereinafter stated, CITY OF ASHLAND, A Municipal Corporation of the State of Oregon hereinafter called the Grantee, does he~- grant, bargain, sell and oo~vey unto the said Grantee and Grantee's b~{~s, suocessors and assi~%s, ttmat oex-t_~n real prope~ wi~h the tene~ts, hereditame~ts and a~m=J~m~es thereunto belonging or apperta{n- ing, situated in the Co%~ty of Jackson , State of Oregon, described as follows to wit: SEE EXHIBIT "A" AYTACHED HERETO AND MADE A PART HEREOF their assigns, that Grantor is lawfully seized /n fee s/mple of the above granted premises, free from all enc~r~, EXEEPT Covenants, cor~tions, restrictions, reservations, rights and rights of way now of r~cord on thin subject property. and that Grantor will ~arrant and forever defend the said premises and every part and parcel th~z-~of a~nst the ~ c/a/ms and demands of all persons ~hcm~r, except THE TRUE AND ~ C0~S~ERATI(~ paid for this transfer, stated in terms of dollars is $ 120,000.00 WHERE THE ~ SO PdDQUIRES, the sir~jular incl~ the plural and all grmtical changes shall be /raplied to make the provisions hereof apply equally to ind/viduals and to corpo~atico~. ,~, ~ w~ss ~mmmJF. ~he grantor has executed ~his instru. ent this /7 day of THIS ~ WILL NOT ~.;~4 USE OF THE PROPERTY DESCRIBED IN THIS INSTHt~H~T IN VIOI2%TI(~ OF APPLICABLE LAND USE LAWS AND RE~JLATIf~S. BEFORE SIG~N~ OR At~a~I~ THIS LIMITS C~ LAWSUITS AGA/]~ FARMING OR FOREST PRACTICES AS DEFINED IN ORS 30.930." ALBERT EDWARD RATCLIFFE ~ HELEN G. RATCLIFFE STATE OF ~ CCX~ITY OF .~,~'%-ra The fcx~going ir~t~m~m~t was acknowledged before me this ALBERT EDWARD RATCLIFFE and I-IET,R~N G. RATCLIFFE day of , 1996, SPACE FOR RECORDER' S USE Notary Public for Oregon My oa~m-dssicn expires M~{ 1 Tax Sta~xa~ents to: Gran~ee 20 N. Main Street Ashland OR 97520 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No. 5907 State of CALIFORNIA Coun~ of SANTA CRUZ On ~r~/¢-~E t-'7, )~ ~ before me, '/.~¢.v-1 ~.L)', , % No~A~ ~us~zc , NAME, TITLE OF OFFICER - E.G., 'JANE DOE, NOTARY PUBLIC" personally appeared A~L~¢ ¢. ~¢i',~ ~ ~¢t~* ~ ~.*¢~;~ NAME(S) OF SIGNER(S) ~ personally known to me - OR - ~ proved to me on the basis of satisfactoW evidence to be the person(s) whose name(s)~/are subscribed to the within instrument and ac- knowledged to me that,/see/they executed the same in h~s/h~r/their authorized capacity(lee), and that by h~/h~r/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. SIGNATURE OF NOTARY OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER [] INDIVIDUAL [] CORPORATE OFFICER DESCRIPTION OF ATTACHED DOCUMENT [] PARTNER(S) [] A'I-I'ORNEY-IN-FACT [] TRUSTEE(S) TITLE(S) [] LIMITED [] GENERAL [] GUARDIAN/CONSERVATOR [] OTHER: TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE OF DOCUMENT SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(IFS) SIGNER(S) OTHER THAN NAMED ABOVE ©1993 NATIONAL NOTARY ASSOCIATION · 8236 Remmet Ave., P.O. Box 7184 · Canoga Park, CA 91309-7184 LAND DESCRIPTION Commencing at the ACCEPTED Quarter corner common to Sections 5 and 8, Township 39 South, Range 1 East of the Willamette Base and Meridian, Jackson County, Oregon being monumented with a 1 inch diameter galvanized iron pipe with a 2.5 inch diameter brass cap; THENCE South 00 degrees 13 minutes 53 seconds East for a distance of 1333.07 feet to a 5/8 inch iron rod situated at a point common to those Boundary Lines by Agreement recorded as Documents Nos. 78-11551, 78-09396 and 78-07062 of the Official Records of Jackson County, Oregon; THENCE North 89 degrees 36 minutes 42 seconds East along that Boundary Line by Agreement last referred to hereinabove for a distance of 255.775 feet to a 5/8 inch iron rod; THENCE continuing along said Boundary Line by Agreement, North 00 degrees 41 minutes 17 seconds West for a distance of 5.215 feet to a 5/8 inch iron rod situated in the East-West centerline of the Northeast quarter of Section 8, said Township and Range; THENCE South 89 degrees 56 minutes 07 seconds East along said East-West centerline of the Northeast quarter of Section 8, for a distance of 296.44 feet to a found 5/8 inch iron rod situated at the Northwest corner of Parcel No. 2 of that MINOR LAND PARTITION filed for record the 25th day of October, 1978 and recorded in Volume 2 at Page 55 of "MINOR LAND PARTITIONS" in Jackson County, Oregon; THENCE South 01 degree 56 minutes 46 seconds West along the Westerly boundary line of said Parcel No. 2 as referred to hereinabove for a distance of 138.03 feet to the TRUE POINT OF BEGINNING: THENCE leaving said Westerly boundary line, South 89 degrees 56 minutes 07 seconds East for a distance of 613.37 feet to a point in the new Westerly right of way line of Ditch Road as established and shown on that MINOR LAND PARTITION filed for recorded the 25th day of October, 1978 and recorded in Volume 2 at Page 55 of "MINOR LAND PARTITIONS" in Jackson County, Oregon; THENCE South 01 degrees 21 minutes 25 seconds East along said new Westerly Road right of way line for a distance of 70.81 feet (deed record South 1 degree 21 minutes 25 seconds East for a distance of 70.80 feet) to a found 5/8 inch iron rod; THENCE along a curve to the right having a radius of 300.000 feet, a central angle of 12 degrees 11 minutes 00 seconds and an arc length of 63.79 feet, being subtended by a chord of South 04 degrees 44 minutes 05 seconds West for a distance of 63.67 feet to a found 5/8 inch iron rod; THENCE South 10 degrees 49 minutes 35 seconds West for a distance of 59.68 feet to a point; THENCE leaving said new Westerly Road right of way line South 88 degrees 29 minutes 30 seconds West along the Southerly boundary line of a NATURAL DRAINAGE WAY EASEMENT as shown on that MINOR .96-05,193 Ratcliffe to the City of Ashland Page 2 LAND PARTITION as hereinabove set forth, for a distance of 126.56 feet to an angle point; THENCE continuing along said NATURAL DRAINAGE WAY EASEMENT boundary line the following courses: THENCE North 88 degrees 18 minutes 27 seconds West for a distance of 87.15 feet to a 5/8 inch iron rod; THENCE North 74 degrees 39 minutes 14 seconds West for a distance of 107.58 feet to a 5/8 inch iron rod; THENCE North 54 degrees 03 minutes 43 seconds West for a distance of 47.045 feet to a 5/8 inch iron rod; THENCE leaving said NATURAL DRAINAGE WAY EASEMENT boundary line, North 89 degrees 56 minutes 07 seconds West for a distance of 247.81 feet (deed record North 89 degrees 56 minutes 07 seconds West for a distance of 247.82 feet) to a point in the Westerly boundary line of Parcel No. 2 of that MINOR LAND PARTITION filed for record the 25th day of October, 1978 and recorded in Volume 2 at Page 55 of Plat Records of Jackson County, Oregon; THENCE North 01 degrees 56 minutes 46 seconds East along said Westerly boundary line for a distance of 138.03 feet to the point of beginning. Together with and subject to covenants, easements, and restrictions of record and those apparent on the land. Said property contains 2.35 acres, more or less. GRANTORS: Albert Edward Ratcliffe and Helen G. Ratcliffe, h & w February 7, 1996 GRANTEE: City of Ashland, a Municipal Corporation of the State of Oregon. ref:RADCLIFF.leg 96-05493 LA-65956 S~jea-t~: EXHIBIT A 1. Rights of way for water pipe liras, and rights in connection therewith, granted to the City of Ashland, Oregon, by instruments recorded in Volume 21 page 147 and Volume 96 page 20 of t~ Deed Reoords of Jackson County, Oregon. 2. Perpetual nc~-exclusiveeasement for ingress and egress 30 feet in widthoveran existing roadway, granted indeed recorded asNo. 80-05839 of the Official Records of Jackson County, Oregon, and as shown onplat of Minor Land Partition reoorded January 18, 1980 in Volume 3 page 33 of the Mir~r Land Partition Re~ords of Jackson County, Oregon. 3. 15-foot slope easement as shown c~ the Plat of Minor T~nd Partition #7465 reoorded October 25, 1978 in Vol~e 2 page 55 of tr~ ~r Land Partition Records of Jackson County, Oregon, and as shc~n m Minor Land Partition #8189 reoorded Janu_~ry 18, 1980 in Volume 3 ~ge 33 of Minor !and Partition Records of Jackson County, Oregon. (Affects easterly line) 4. Natural Drainage Wayas shown on the Plat of Minor Land Partition #7465 recorded October25, 1978 in Volume 2 page 55 of theM in or land Partition Records of Jackson County, Orecjon, and as shown ohM in or Land Partiticn #8189 reoorded January 18, 1980 in Volume 3 page 33 of Minor Land Partition Records of Jackson County, Orecjon. 5. Agreement to sign in favor of joining future GrandviewAssessment District and to sign in favor of future street improvanants, including curbs and gutters, for Ditch Road, as requiredbytheCityofAshland, and a~t to bear the proportionatepayment of associated costs, set out in instrument r~oorded January 14, 1980 as No. 80-00815 of the Official Records of Jackson County, Oregon. 6. Perpetual utility easement, subject to the terms and provisions thereof, grantedby instrument reoorded February 3, 1995 as No. 95-03098 of the Official Records of Jack_~on 3a¢lson CounF/, Oregon Recorded OFFICIAL RECORDS './0 M CountyClerk PROMISSORY NOTE $100,000.00 Medford, Oregon ,'~_~,_~_~_.~ .=~; ,~1996 I/WE, JOINTLY AND SEVERALLY, PROMISE TO PAY TO THE ORDER OF ALBERT EDWARD RATCLIFFE and HELEN G. RATCLIFFE, husband and wife or the survivor thereof AT PLACE DESIGNATED BY BENEFICIARY, THE SUM OF ONE HUNDRED THOUSAND AND NO/100 DOLLARS, WITH INTEREST THEREON AT THE RATE OF 6 PERCENT PER ANNUM FROM FEBRUARY 22nd, 1996 UNTIL PAID, PRINCIPAL AND INTEREST PAYABLE IN QUARTERLY INSTALLMENTS OF NOT LESS THAN $5,824.57 IN ANY ONE PAYMENT; EACH PAYMENT AS MADE SHALL BE APPLIED FIRST TO ACCUMULATED INTEREST AND THE BALANCE TO PRINCIPAL; THE FIRST PAYMENT IS TO BE MADE ON THE 22nd DAY OF JUNE , 19 96, AND A LIKE PAYMENT ON THE SAME DAY OF EACH SEPTEMBER, DECEMBER, MARCH, JUNE AND THEREAFTER, UNTIL SEPTEMBER 22nd, 2001, WHEN THE WHOLE UNPAID BALANCE HEREOF, IF ANY, SHALL BECOME DUE AND PAYABLE; IF ANY OF SAID INSTALLMENTS IS NOT SO PAID, THE WHOLE SUM OF BOTH PRINCIPAL AND INTEREST TO BECOME IMMEDIATELY DUE AND COLLECTIBLE AT THE OPTION OF THE HOLDER OF THIS NOTE. IF THIS NOTE IS PLACED IN THE HANDS OF AN ATTORNEY FOR COLLECTION, I/WE PROMISE AND AGREE TO PAY HOLDER'S REASONABLE ATTORNEY'S FEES AND COLLECTION COSTS OF THE HOLDER HEREOF, AND IF SUIT OR ACTION IS FILED HEREON, ALSO PROMISE TO PAY (1) HOLDER'S REASONABLE ATTORNEY'S FEES TO BE FIXED BY THE TRIAL COURT AND (2) IF ANY APPEAL IS TAKEN FROM ANY DECISION OF THE TRIAL COURT, SUCH FURTHER SUM AS MAY BE FIXED BY THE APPELLATE COURT, AS THE HOLDER'S REASONABLE ATTORNEY'S FEES IN THE APPELLATE COURT. THIS NOTE IS SECURED BY A DEED OF TRUST OF EVEN DATE HEREWITH WHICH CONTAINS A CONSENT CLAUSE. ~'~ ' ~CITY OF ASHLAND, A MUNICIPA~L CORPORAT I ON · FO41.M. No. S~ I~Oregon Trust Deed Series---TRUST DEED INo restriction ~ assignment).COpyRiGHT [99Z$TEVEN$.~q£$$ LAW pUI~IL[$HING CO,. PORTLAND, OR 97204 " rms tRUSt DEED, made this ...... '.'.~.-..!.__' ............day of ............__F.?.._b...r...u..a.._r...~. ................................/9_.9..6 .....between ~' CITY OF ASHLAND, A MUNICIPAL CORPORATION ......................................................................................................................... , ............· ......................................................, as Grantor, CONTINENTAL LAWYERS TITLE COMPANY, a California Corporation ................................................................................................................................................................................. , aS rusree, anG ALBERT EDWARD RATCLIFFE and HELEN G. RATCLIFFE, husband and w~ '"'6'~'"%'K~'"'~'ff~'9'~"(/6 ~---~'h'~'~'~ J'f'--~H 5'~-~"-'~d d'~ ~-~'"-i'~':.--"53-8'--'S'gfi'--Z'd-f~'Kff6'--'F~I-fbh'"'ZYA-'-;9-~-OT8 ....................................................................................................................................................................................... , WI TNESSETH: Grantor irrevocably ~rants, bargains, sells and conveys to trustee ......... ~.~_~.Q_B ........................... County, Ore,on, described as: See Exhibit "A" Attached hereto together with all and singular the tenements, hereditaments and appurtenances and all other rights thereunto belonging or in anywise now or hereafter appertaining, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connection with the property. FOR THE PURPOSE OF SECURING PERFORMANCE of each agreement of grantor herein contained and payment of the of ....QUE._.HU_.N.DI~.Ep..T.I~QIJ_S.A..~D` .]~Np. NO/!O.O*******.***_~..~.~'~.~.}.*~'..**.?**. *~*.****.********* * * * * * * * * * * * * ( 10 0 · 0 0 0 0 0 ) * * * * * * * * * * ** *~o~ars, with interest thereon according to the terms of a promissorr note of even date herewith, payable to beneficiary or order and made by grantor, the final payment of principal and interest hereof, if ..... Sep. i;..em.be.r. 2~ ,}ox. 2001 not sooner paid, to be due and payable The date of maturity of the debt secured by this instrument is the date, stated above, on which the final installment of the note becomes due and payable. To protect the security of this trust deed, grantor agrees: 1. To protect, preserve and maintain the property in good condition and repair; not to remove or demolish any building or proveraant thereon; not to commit or permit any waste of the property. 2. To complete or restore promptly and in good and habitable condition any building or improvement which may be. constructed, damaged or destroyed thereon, and pay when due all costs incurred therefor. 3. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the property; if the beneficiary so requests, to join in executing such financing statements pursuant to the Uniform Commercial Code as the beneficiary may require and to pay for filing same in the proper public office or offices, as well as the cost of all lien searches made by filing officers or searching agencies as may be deemed desirable by the beneticiary. 4. To provide and continuously maintain insurance on the buildings now or hereafter erected on the property against loss or damage by fire and such other hazards as the beneficiary may from time to time require, in an amount not less than $ ~1~ J.I%~ ~ written in companies acceptable to the beneficiary, with loss payable to the latter; all policies of insurance shall be delivered to the bene- ficiary as soon as insured; if the grantor shall fall for any reason to procure any such insurance and to deliver the policies to the beneficiary at least fifteen days prior to the expiration of any policy of insurance now or hereafter placed on the buildings, the beneficiary may pro- cure the same at grantor's expense. The amount collected under any fire or other insurance policy may be applied by beneficiary upon any indebtedness secured hereby and in such order as beneficiary may determine, or at option of beneficiary the entire amount so collected, or any part thereof, may be released to grantor. Such application or release shall not cure or waive any detault or notice of default here- under or invalidate any act done pursuant to such notice. 5. To keep the property free from construction liens and fo pay all taxes, assessments and other charges that may be levied or assessed upon or against the property before any part of such taxes, assessments and other charges become past due or delinquent and promptly deliver receipts therefor to beneficiary; should the grantor fail to make payment of any taxes, assessments, insurance premiums. liens or other charges payable by grantor, either by direct payment or by providing beneficiary with funds with which to make such pay- ment, beneficiary may, at its option, make payment thefeet, and the amount so paid, with interest at the rate set forth in the note secured hereby, together with the obligations described in paragraphs 6 and 7 of this trust deed, shall be added to and become a part of the debt secured by this trust deed, without waiver of any rights arising trom breach of any of the covenants hereof and for such payments, with interest as aforesaid, the property hereinbefore described, as well as the grantor, shall be bound to the same extent that they are bound for the payment of the obligation herein described, and all such payments shall be immediately due and payable without notice, and the nonpayment thereof shall, at the option of the beneficiary, render all sums secured by this trust deed immediately due and pay- able and constitute a breach of this trust deed. 6. To pay all costs, fees and expenses of this trust including the cost ot title search as well as the other costs and expenses o! the trustee incurred in connection with or in entorcing this obligation and trustee's and attorney's fees actually incurred. 7. To appear in and defend any action or proceeding purporting to affect the security rights or powers ot beneficiary or trustee; and in any suit, action or proceeding in which the beneficiary or trustee may appear, includin~ any suit for the foreclosure of this deed, to pay all costs and expenses, including evidence of title and the beneficiary's or trustee's attorney's fees; the amount of attorney's tees mentioned in this paragraph 7 in all cases shall be fixed by the trial court and in the event of an appeal from any judgment or decree of the trial court, grantor further agrees to pay such sum as the appellate court shall adjudge reasonable as the beneficiary's or trustee's at- torney's fees on such appeal. It is mutually agreed that: 8. In the event that any portion or all of the property shall be taken under the right of eminent domain or condemnation, bene- ficiary shaH. h:&ve the right, if it so elects, to require that all or any portion of the monies payable as compensation for such taking, NOTE: The Trust Deed Act provides that the trustee hereunder must be either an attorney, who is an active member of the Oregon State Bar, a bank, trust company or savings and loan association authorized to do business under the laws of Oregon or the United States, a title insurance company autho- rized to insure title to real property of this state, its subsidiaries, affiliates, agents or branches, the United States ar any agency thereof, or an escrow agent licensed under ORS 696.505 to 696.585. TRUST DEED City of Ashland Grantor ALBERT EDWARD RATCLIFFE .Iq~LEN_..G ..... RA.T£L Z E F~E .................................... Ben~fidar~ After Recording Return to [Name, Address, Zip): .. J.&c_K~..o..u....C.6)..u..n...t.y...T i..t. !...e_..D..!_.v...i..$..~ ~.~_... --3--Y 0----Li-t h-in---Way- ............................................... .-Ashl-an~-..O-R-...(..7.$ 2.0 .......................................... SPACE: RESERVED FOR RECORDER'S USE STATE OF OREGON, ~ County of ............................................[ ss. I certify that the within inst~'un~en~ was received for ~ecord on the .......... day of ......................... .._~ ..................,19 ......... at ................. o'clock ._.'".~.M.,~nd recorded in book/reel/volume N&/ .............. on page ........................ and/or?a~ iee/file/instru-~ ment/microfilm/rece'~tib(~ No .................. Record of .................i ........~ said County. Witness my handX~and sea~ of County affixed. NAME; TITLE By ................................................... Deputy 96-05'i94 which are in excess of the amount required to pay all reasonable costs, expenses and attorney's fees necessarily paid or incurred by grantor in such proceedings, shall be paid to beneficiary and applied by it first upon any reasonable costs and expenses and attorney's fees, both in the trial and appellate courts, necessarily paid or incurred by beneficiary in such proceedings, and the balance applied upon the indebted- ness secured hereby; and grantor agrees, at its own expense, to take such actions and execute such instruments as shall be necessary in obtaining such compensation, promptly upon beneticiary's request. 9. At any time and from time to time upon written request of beneficiary, payment of its fees and presentation of this deed and the note tar endorsement (in case of full reconveyances, for cancellation). without affecting the liability of any person for the payment of the indebtedness, trustee may (a) consent to the making of any map or plat of the property; (b) join in granting any easement or creat- ing any restriction thereon; (c) join in any subordination or other agreement affecting this deed or the lien or charge thereot,~ (d) reconvey, without warranty, all or any part of the property. The grantee in any reconveyance may be described as the "person or persons legally entitled thereto," and the recitals therein of any matters or facts shall be conclusive proof of the truthfulness thereat. Trustee's fees for any of the services mentioned in thls paragraph shall be not less than $5. 10. Upon any default by grantor hereunder, beneficiary may at any time without notice, either in person, by agent or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of the property or any part thereof, in its own name sue or otherwise collect the rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney's fees upon any indebtedness secured hereby, and in such order as beneficiary may determine. 11. The entering upon and taking possession of the property, the collection of such rents, issues and profits, or the proceeds of tire and other insurance policies or compensation or awards for any taki~g or damage of the property, and the application or release thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. 12. Upon default h? gr~ntc: in pa~'~,en! o! any indebtedness secured hereby or in grantor's performance of any agreement hereunder. time being of the essence with respect to such payment and/or performance. the beneiiclary may declare all sums secured hereby immediately due and payable. In such an event the beneficiary may elect to proceed to toreclose this trust deed in equity as a mortgage or direct the trustee to foreclose this trust deed by advertisement and sale, or may direct the trustee to pursue any other right or remedy, either at law or in equity, which the beneficiary may have. In the event the benetlclary elects to foreclose by advertisement and sale, the bene- ficiary or the trustee shall execute and cause to be recorded a written notice of detault and election to sell the property to satisfy the obliga- tion secured hereby whereupon the trustee shall fix the time and place of sale, give notice thereof as then required by law and proceed to foreclose this trust deed in the manner provided in ORS 86,735 to 8d.795. 13. After the trustee has commenced toreclosure by advertisement and sale, and at any time prior to 5 days before the date the trustee conducts the sale, the grantor or any other person so privl/eged by ORS 8d.753, may cure the default or defaults. If the detault consists of a failure to pay, when due, sums secured by the trust deed, the default may be cured by paying the entire amount due at the time of the cure other than such portion as would not then be due had no default occurred. Any other default that is capable of being cured may be cured by tendering the performance required under the obligation or trust deed. In any case, in addition to curing the de- fault or defaults, the person effecting the cure shall pay to the beneticiary all costs and expenses actually incurred in enforcing the obligation of the trust deed together with trustee's and attorney's fees not exceeding the amounts provided by law. 14. Otherwise, the sale shall be held on the date and at the time and place designated in the notice of sale or the time to which the sale may be postponed as provided by law. The trustee may sell the property either in one parcel or in separate parcels and shall sell the parcel or parcels at auction to the highest bidder tar cash, payable at the time of sale. Trustee shall deliver to the purchaser its deed in form as required by law conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in the deed of any matters of fact shall be conclusive proof at the truthfulness thereof. Any person, excluding the trustee, but including the grantor and beneticiary, may purchase at the sale. 15. When trustee sells pursuant to the powers provided herein, trustee shall apply the proceeds of sale to payment of (f) the ex- penses of sale, including the compensation of the trustee and a reasonable charge by trustee's attorney, (2) to the obligation secured by the trust deed, ('3) to all persons having recorded liens subsequent to the interest of the trustee in the trust deed as their interests may appear in the order of their priority and (4) the surplus, it any, to the grantor or to any successor in interest entitled to such surplus. 16. Beneficiary may from time to time appoint a successor or successors to any trustee named herein or to any successor trustee appointed hereunder. Upon such appointment, and without conveyance to the successor trustee, the latter shall be vested with all title, powers and duties conferred upon any trustee herein named or appointed hereunder. Each such appointment and substitution shall be made by written instrument executed by beneficiary, which, when recorded in the mortgage records of the county or counties in which the property is situated, shall be conclusive proof of proper appointment of the successor trustee. 17. Trustee accepts this trust when this deed, duly executed and acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any party hereto at pending sale under any other deed of trust or of any action or proceeding in which grantor. beneficiary or trustee shall be a party unless such action or proceeding is brought by trustee. The grantor covenants and agrees to and with the beneficiary and the beneficlary's successor in interest that the grantor is lawfully seized in fee simple of the real property and has a valid, unencumbered title thereto and that the grantor will warrant and forever defend the same against all persons whomsoever. The grantor warrants that the proceeds of the loan represented by the above described note and this trust deed are: (a)* primarily for grantor's personal, family or household purposes (see Important Notice below), (b) for an orgarHzation, or (even if grantor is a natural person,) are for business or commercial purposes. This deed applies to, inures fo the benefit of and binds all parties hereto, their heirs, legatees, devisees, administrators, executors, personal representatives, successors and assigns. The term beneficiary shall mean the holder and owner, including pledgee, of the contract secured hereby, whether or not named as a beneficiary herein. In construing this trust deed, it is understood that the grantor, trustee and/or beneficiary may each be more thar~ one person,' that if the context so requires, the singular shall be taken to mean and include the plural, and that generally all grarr~r~atical changes shall be made, assumed and implied to make the provisions hereof apply equally to corporations and to individuals. IN WITNESS WHEREOF, the grantor has executed this instrument the day and year first above written. c'C'I ~.~ ". --_.~ ......... ~ * IMPORTANT NOTICE: Delete, by lining out, whichever warranty {a) or [b) is 0~// ASHLA~/ no, a~,,,cab,e; i' warr~n~ ,a, is a,~,,cab,e and ,he benef,c,a,y , .... ed,,or ,~-- '~--/~'-f~ L~---'~'~"-> -:----~:'~;~f~ -~.~----- If com~licnee w~ ~he Ac~ ~s ~o~ req~e~. ~s~e~ ~ ~o~ce. _ ..............................~ ...................................................... ~F~ OF 0~0~, Co~y of .......... ~.~_~.~_~ ........................... ) ss. ~'s [~s~e~ ~s ~c~o~fe~e~ 5efo~e ~e o~ ......... ~.~d~._.._'.J ................... ..... ................................................... ~ . _~.~.~_~_ ......................................................................................................................... ......... ................................................................................................................. ~:~"~ FBbU~ ~. ~ ~ '- : ....................................... : ~,~.~'~.~ ~0~ ' ' ~ ~ ~, ~ Notary Public tot Oregon : ": COMMiSSiON NO. 0~0453 . · · ' c~ REQUEST FOR FULL RECONVEYANCE (To be used only when obllgatio~s have been ~id,} ~O: ..................................... , ~rus~ee ~e u~ders/gn~ is ~he legal owner ~ holder of ~ll i~deb~ed~ess secured ~ ~e ~ore~oi~ ~rus~ deed. ~/1 su~s secured by ~he frus~ deed h~e bee~ ~u//y p~/d ~ sa~isf/ed. ~o~ AereDy ~re directS, on pay~en~ ~o you of ~ s~s owi~ ~o you under ~e ~rus~ deed or pursun~ ~o s~a~ute, ~o c~ce/ ~// e~[de~ees o~ /~deb~ed~ess secured by tAe ~rus~ deed [wAic~ ~re de/i~ered ~ you 6erewith to~e~her wi~h the trus~ de~J ~nd ~o r~on~ey, ~o~ ~rr~ty, to t~e p~rf/es designated bY ~he ter~s of ~he ~rus~ deed ~he held by ~ under ~Ae ~e. ~M/reco~vey~ce ~d d~en~s ~o DATED.. ....................................... 19 ......... Do not lose or destroy this Trust Deed OR THE NOTE which it secures. Both must be delivered to the trustee for cancellation before ~econveyance will be made. Beneficiary ' 96-05,194 LAND DESCRIPTION Commencing at the ACCEPTED Quarter corner common to Sections 5 and 8, Township 39 South, Range 1 East of the Willamette Base and Meridian, Jackson County, Oregon being monumented with a inch diameter galvanized iron pipe with a 2.5 inch diameter brass cap; THENCE South 00 degrees 13 minutes 53 seconds East for a distance of 1333.07 feet to a 5/8 inch iron rod situated at a point common to those Boundary Lines by Agreement recorded as Documents Nos. 78-11551, 78-09396 and 78-07062 of the Official Records of Jackson County, Oregon; THENCE North 89 degrees 36 minutes 42 seconds East along that Boundary Line by Agreement last referred to hereinabove for a distance of 255.775 feet to a 5/8 inch iron rod; THENCE continuing along said Boundary Line by Agreement, North 00 degrees 41 minutes 17 seconds West for a distance of 5.215 feet to a 5/8 inch iron rod situated in the East-West centerline of the Northeast quarter of Section 8, said Township and Range; THENCE South 89 degrees 56 minutes 07 seconds East along said East-West centerline of the Northeast quarter of Section 8, for a distance of 296.44 feet to a found 5/8 inch iron rod situated at the Northwest corner of Parcel No. 2 of that MINOR LAND PARTITION filed for record the 25th day of October, 1978 and recorded in Volume 2 at Page 55 of "MINOR LAND PARTITIONS" in Jackson County, Oregon; THENCE South 01 degree 56 minutes 46 seconds West along the Westerly boundary line of said Parcel No. 2 as referred to hereinabove for a distance of 138.03 feet to the TRUE POINT OF BEGINNING: THENCE leaving said Westerly boundary line, South 89 degrees 56 minutes 07 seconds East for a distance of 613.37 feet to a point in the new Westerly right of way line of Ditch Road as established and shown on that MINOR LAND PARTITION filed for recorded the 25th day of October, 1978 and recorded in Volume 2 at Page 55 of "MINOR LAND PARTITIONS" in Jackson County, Oregon; THENCE South 01 degrees 21 minutes 25 seconds East along said 'new Westerly Road right of way line for a distance of 70.81 feet (deed record South 1 degree 21 minutes 25 seconds East for a distance of 70.80 feet) to a found 5/8 inch iron rod; THENCE along a curve to the right having a radius of 300.000 feet, a central angle of 12 degrees 11 minutes 00 seconds and an arc length of 63.79 feet, being subtended by a chord of South 04 degrees 44 minutes 05 seconds West for a distance of 63.67 feet to a found 5/8 inch iron rod; THENCE South 10 degrees 49 minutes 35 seconds West for a distance of 59.68 feet to a point; THENCE leaving said new Westerly Road right of way line South 88 degrees 29 minutes 30 seconds West along the Southerly boundary line of a NATURAL DRAINAGE WAY EASEMENT as shown on that MINOR "96-05494 Ratcliffe to the City of Ashland Page 2 LAND PARTITION as hereinabove set forth, for a distance of 126L~6~ feet to an angle point; THENCE continuing along said NATURAL DRAINAGE WAY EASEMENT boundary line the following courses: THENCE North 88 degrees 18 minutes 27 seconds West for a distance of 87.15 feet to a 5/8 inch iron rod; THENCE North 74 degrees 39 minutes 14 seconds West for a distance of 107.58 feet to a 5/8 inch iron rod; THENCE North 54 degrees 03 minutes 43 seconds West for a distance of 47.045 feet to a 5/8 inch iron rod; THENCE leaving said NATURAL DRAINAGE WAY EASEMENT boundary line, North 89 degrees 56 minutes 07 seconds West for a distance of 247.81 feet (deed record North 89 degrees 56 minutes 07 seconds West for a distance of 247.82 feet) to a point in the Westerly boundary line of Parcel No. 2 of that MINOR LAND PARTITION filed for record the 25th day of October, 1978 and recorded in Volume 2 at Page 55 of Plat Records of Jackson County, Oregon; THENCE North 01 degrees 56 minutes 46 seconds East along said Westerly boundary line for a distance of 138.03 feet to the point of beginning. Together with and subject to covenants, easements, and restrictions of record and those apparent on the land. Said property contains 2.35 acres, more or less. GRANTORS: Albert Edward Ratcliffe and Helen G. Ratcliffe, h & w February 7, 1996 GRANTEE: City of Ashland, a Municipal Corporation of the State of Oregon. ref:RADCLIFF.leg Jackson Counh/, Oregon Recorded OFFICIAL RECORDS unty Clerk