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Home My WebLink About1991-040 Trust Deed - EshooALTA Owners Policy (10/21/87) 251526 SX AMERio First American Title Insurance Company o£ Oregon 200 S.W. Market St. · Portland, Oregon 97201 · (503) 222-3651 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, FIRST AMERICAN TITLE INSURANCE COMPANY OF OREGON, a Oregon corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. · . · , Counter~g~ Authorizec~(~'f-f~ce'i .... '~ ~' dba FirST AME~IGAN TITk~ INSU~ANGE GOMPANY OF OSEGON OLTA Form 13 TI 128 8~88 ALTA Owner's Policy (10--21-87) Schedule A SCHEDULE A Policy No. 251526/CTI - 80499 Amount of Insurance $100,000.00 Premium $455.00 Date of Policy: June 25, 1991 at 1:27 P.M. 1. Insured: THE CITY OF ASHLAND, a Municipal Corporation, 2. The estate or interest in the land which is covered by this policy is: an estate in fee simple 3. Title to the estate or interest in the land is vested in: THE CITY OF ASHLAND, a Municipal Corporation, 4. The land referred to in this policy is described as follows: Parcel 2 as shown on the Minor Land Partition Plat filed in the office of the Jackson County Surveyor as No. 12538, and recorded as partition Plat No. P-59-1991 of "Record of Partition Plats" in Jackson County, Oregon. 251526/CTI - 80499 ALTA POLICY FORMS STANDARD COVERAGE SCHEDULE B This policy does not insure against loss or damage, and the Company will not pay costs, attorney's fees or expenses, which arise by reason of the following: . Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records; proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records. . Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. . Easements, encumbrances, or claims thereof, not shown by the public records, reservations or exceptions in patents or in acts authorizing the issuance thereof, water rights, claims or title to water. . Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. . Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose. . Rights of the public in and to any portion lying within the limits of public roadways, if any, and/or rights of private parties over any portion lying within existing roadways or driveways not disclosed by the public records. . An easement for overhead power lines as disclosed by survey filed in the office of the Jackson County, Surveyor as No. 8320. Se An access easement, subject to the term and conditions contained therein, as set forth in instrument recorded as Document No. 91-14555, Official Records of Jackson County, Oregon. SEE SCHEDULE B - CONTINUED 251526/CTI - 80499 SCHEDULE B- CONTINUED A Trust Deed, including the terms and provisions thereof, given by The City of Ashland, a Municipal Corporation, as grantor(s), Crater Title Insurance Co., an Oregon Corporation, as trustee, for George V. Eshoo and Barbara Eshoo, as to an undivided 1/4 interest; John W. Stranberg and Caroline J. Stranberg, as to an undivided 1/4 interest; Ellis V. Wilson and Mildred Wilson as to an undivided 1/4 interest and Ann L. Salter, as to an undivided 1/4 interest, as beneficiary, dated June 24, 1991, recorded June 25, 1991, as Document No. 91- 14556, Official Records of Jackson County, Oregon, given to secure payment of a note in the amount of $70,000.00, with interest thereon. 251526/CTI - 80499 per R.S.N. 5996. DWARDS- 2339" )rds )f Section 9 this survey ;t Main St. o . ?09 9s o,- 9?/e9 • 6y swO ' 0p. ? ?a J cC f. ? sioa ooh c.. C D: Fd roi/rood spike f/ush 'his is on The c enTer : in. e o f Second St per The :dy of S' 36• Ash/ond Engineering Division 6 0•/ ( East 127.70') S. 89' 58' 44" E. 127.70' ,p / s Si• Y`3 • 996 00 ?.0 2 S o?Qro SEE / `??• 2 °? ?s 00- . x . ?? ??? ? ha ??O e??h `? F3•. 'til TA P, OE .O Gj o a 0 ?,• , ?'?! aid <o?c ? c eat \o? ?p Boundary n A60 VC 9 0 hr (? ?s?plob ?9 3 Cl) Y9sIX F \ 00. ?'' 0 S ?o?;? +.0 9 0 S 20 wide mot, 's ?'+oii ;-> p4' `soG ..??, yo aio Nc m p0' o; cess eosemen/ c N per Doc. No. 79-%55 / f oc o oa 2 « SO? ?`? Op t acy \0. 4 \? O 10 AIW or N/y edge Y /• Travelled o/%y 9?p c'?• y oWn ory o• Per R. S. N. 5996 J \ VV' 9 14`y --?_ S£ fr edge of conc. wo// %s " '5 F 1 ' O .1 8 diam. / Pin from SE?y boundoiv ?t Fd 5/8 - diam c/ pin - w/cop m1(d. Swain- ?(0 7 - , per R.S.N. 8320 F 51 L. S. 59 per Vj 0 R S. N. . 5996 1 9 12 deep 0) N (D S. 380 38,16- w ' \ " ?O O 0.06 L verhead fbwer Line ? ( = oy Ala easemenT found l Z O Z . r SW Corner D. L. C. No. 42 Fd. 1969 Jackson Coun/y Surveyor brass cop mkd. ?'?nr n r 1-10 . ?p ?Y 9. N£Yy /ine o/ 25' wide o/% ,,O y 0 9 J c'2\\ per R. S. N. 5996 ' 6'S• 93 06,. North /ine per R S. N. N. 8 INTEREST: ( ) 365 day ( ) 30/360 day ( ) Interest only Collection Escrow CRATER TITLE INSURANCE CO.. 604 W. Main/P.O. Box 250 / Medford, OR 97501 779-7250 / 582-1566 24 Crater Lake Ave., Suite 1 / Medford, OR 97504 779-6442 485 E. Main / Ashland, OR 97520 482-4006 FAX: 779-4013 Collection Escrow Instructions Phone 779-7250 CTI# 80499-SS FROM PAYEE: George V. Eshoo - Baz:ba:ra Eshoo John [I. Stranberg- Carol;~'J. Strm~rg Ellis V. Wilson- ,~d. ldred Wilson Ann L. Salter c/o 1800 Valley View Rd., Aqhl~nd; Or. 975? TO: CRATER TITLE INSURANCE CO. The undersigned Four (4) Executed Promissory Notes Trust Deed: 91- Four (4) P~quest for Full..Rmconveyance Which you may deliver to the order of the obligor upon AND OBLIGOR: City of Ashland City Hall - Attn. Ashland, Or. 97520 hand you herewith the following: 2}liS IS A SECURITY ODLLECTION ACCO~f ONLY. NO BOOK~MP~qG OR DISBUI~AL OF FUNDS IS REQUIRED. IT ~,~T., ]~ TtlE 'EXPOS DUTY OF glJ. BE2~FICIARIES ~I-~IR HEIRS OR ASSIGNS, TO PROVIDE WRITfEN IxN- STRUCTI~I~S PRfI, R~fLY TO COLLECfION ESCROd AGF~NT ADDITIONAL SERVICES REQUESTED: ( ) advice to payee ( ) advice to obligor ( ) project report AMOUNT TO BE PAID THROUGH YOU BY OBLIGOR, AND TERMS OF PAYMENT: Principal balance unpaid: $ -- Interest at -- % per annum from the -- day of -- 19___, on unpaid balances. Installments of not less than $ plus/including daily interest. First installment due on or before and subsequent installments due on or before -- SEE ATTAG~D EXHIBIT "A" by tl'd.s reference incOrporated herein and made a part hereof DISPOSITION TO BE MADE BY YOU OF PROCEEDS OF PAYMENTS RECEIVED AS FOLLOWS: REIEASE OF BDCL~'ENTS TO OBLIGOP~ Ut~N..WR.T_ _T!'~-~ INSTRIL-WIONS FROH ALL BENEFICIAPdlF. q, THEIR HEIP~ OR ASSIGNS, IT WIIJ._ BE ~ DUTY_OF 2]~ PAYEES TO PROVDEg PRD~T %,IRITi~2q INSTRUCTIO['~ TO COLLECTION ESCRO~ AGENT UPON PAY~IqT IN FULL. Multiple payments received with multiple coupons will be posted as such. Any other scheduled or unscheduled over- payments shall be disbursed as directed above unless other specific instructions are given here: Those disbursement instructions marked with ..... may not be changed without written instructions from all parties and constitute conditions of payment through you. Apply payments received to disbursements in the order set forth ~n these instructions. You may not increase your collection charge without 30 days written notice to the affected party. Your set up fee of $ 60.00 is paid herewith. Your monthly payment charges to be paid by At any time, escrow agent may in it's discretion withold disbursement of an unscheduled payment until receipt of written instructions from all parties for the disbursement thereof. THE TERMS ON THE REVERSE SIDE HEREOF HAVE BEEN READ BY THE PARTIES AND SHALL GOVERN THE ADMINISTRATION OF THIS COLLECTION ESCROW. CERTIFICATION. -- Under the penalties of perjury, I certify that the information provided on this form is true, correct, and complete. NOTE -- Enter taxpayer's identification (social security) number on lines below. IF THE ACCOUNT HAS MORE THAN ONE NUMBER FOR REPORTING, LIST NAME, NUMBER AND PERCENTAGE TO BE REPORTED FOR EACH. No account will be accepted without complete tax reporting information. PAYE ,E,~ OBLIGOR' s_s. .., oc, INTEREST: ( ) 365 day ( } 30/360 day ( ) Interest only Collection Escrow CRATER TITLE INSURANCE CO.. 604 W. Main / P.O. Box 250 / Medford, Oil 97501 779-7250 / $82-1566 24 Craft Lake Ave., Suite 1 / Medford, OR 97504 779-6442 485 E. Maid / Askland, OR 97520 482-4006 FAX: 779-4013 Collection Escrow Instructions Phone 779-7250 CTI#. 80499-SS ., FROM PAYEE' George V. F, shoo- Barbara Eshoo John ti. Srranberg- Carol;,~'J. Scranberg Ellis V. Wilson- bEldred Wilson Ann L. Salter c/o 1800 Valley V~_ew Rd._ Aqhlancl. OT. 9752 TO: CRATER TITLE INSURANCE CO. The undersigned Four (4) Execumd Proaissory Nones Trust: Deed: 91- Four (4) Raqu~_s t: for Full Rmccrtveyance AND OBLIGOR' City of Ashland City Hall - Ashland, Or. 97520 Which you may deliver to the order of the obligor upon ADDITIONAL SERVICES REQUESTED' ( ) advice to payee. ( ) advice to obligor AMOUNT TO BE PAID THROUGH YOU BY OBLIGOR, AND TERMS OF PAYMENT: hand you herewith tho following: T~ IS A SECURITY ODLLECTI~ ~ACOO~f ~LY. NO ~EqG OR D~B~~ OF ~ ~ ~Q~~. IT~L~ Tt~ ~~S ~ OF~ ~IR ~ ~ ~SI~, .~ P~~ ~~ S~~~ P~'~Y ~ ~~N ~C~ ~~ project report Principal balance unpaid: $ -- Interest at -- % per annum from the '- clay of -- ., 19~., on unpaid balances. Installments of not less than $ plus/including daily interest. First installment due on or before and subsequent installments due on or before -- SEE AT£AGIED EXHIBIT "N', by d-d.s reference incorporated herein an~ made a part hereof' DISPOSITION TO BE MADE BY YOU OF PROCEEDS OF PAYMENTS RECEIVED AS FOLLOWS: RE!FASE OF DOC~E.'glM TO OBLIGORS UPON W'P~'lr'rE~ INSTRUCTIONS FRO.~':~ AIL B,~qEFICIAP, I~q, THEIR .HEIRS OR ASSIGqS, I.T WIIJ: BE 25IE DUIY OF T}M PAYEES TO....PROV~EE PRO~I? ~fRrlq~_ 'q !:¢T~C~S TO C0LLECr~0~ ESCR~ AGEN'T UPON pAY~iqT IN FULL. Multiple payments received with multiple coupons will be posted as such. Any other scheduled or unscheduled over- payments shall be disbursed as directed above unless other specific instructions are given here' Those chsbursement instructions marked with ..... may not be changed without written instructions from all parties and const;tute conditions of payment through you. Apply payments received to disbursements in the order set forth ~n these instructions. You may not increase your collection charge without 30 days written notice to the affected party. Your ~t up fee of $ 60.1X:) is paid herewith. Your monthly payment charges to be paid by -- At any time, escrow agent may in it's discretion withold disbursement of an unscheduled payment until receipt of written instructions from all parties for the disbursement thereof. THE TERMS ON THE REVERSE SIDE HEREOF HAVE BEEN READ BY THE PARTIES AND SHALL GOVERN THE ADMINISTRATION OF THIS COLLECTION E.~ROW. CERTIFICATION. - Under the penalties of perjury, I certify tlmt the information provided on this form is true, correct, and complete, NOTE -- Enter taxpayer's identification (social security) number on lines below. IF THE ACCOUNT HAS MORE THAN ONE NUMBER FOR REPORTING, LIST NAME, NUMBER AND PERCENTAGE TO BE REPORTED FOR EACH. No account will be accepted without complete tax reporting information. PAYEE,. ~ /3 OBLIGOR: ~ ~ / .... ~ Crater Title Insurance Co. Collection Escr~ Instructions Eshoo, et al - Payee City of Ashland - Obligor F~d%ibit "A" %he parties agree that should any action be necessary to enforce the terms of these escrow instructions, tim prevailing party shall be entitled to an award from the non-prevailing party, of ~his, her of its attorrmys' fees incurred in connmction wi~ the action, including any appeal r/~erefran, as dmtermined by the appropriate court. George~ /~o (n~_ ..-~__ Ell~ 3' Wilson b~%~re'd Wilson Ann L. Salter-- --/--' - OBLIGOP~: ~e City of Ashland ' ~yor ' --' ) () -REST' 365 day 30/360 day Interest only CRATER TITLE INSURANCE CO.. 604 W. Main / P.O. Box 250 / Medford, OR 97501 779-7250 / 582-1566 24 Crater Lake Ave., Suite I / Medford, OR 97504 779-6442 485 E. Main / Ashland, OR 97520 482-4006 FAX: 779-4013 Collection Escrow Collection Escrow Instructions Phone 779-7250 CTI# 80499-SS FROM PAYEE' George V. Eshoo - Barbara Eshoo 3ohn U. Stranberg- Carol;.FJ. Stranberg Ellis V. Wilson - PRldred Wilson Ann L. Salter _. c/o 1800 Valley View PA.: Ash]and: Or. 9757 TO: CRATER TITLE INSURANCE CO. The undersigned Four (4) Executed Promissory Notes Trust Deed: 91- Four (4) P~quest for Full .,Reconveya~ce Which you may deliver to the order of the obligor upon AND OBLIGOR' City of Ashland Ashland, Or. 97520 hand you herewith the following: THIS IS A SECURITY OOLT.ECI'ION ACCOSt1' OifLY. NO BOOICKEEPEqG OR DISBUt~AL OF FUNDS IS REQUIRED. IT ~,~IIL BE %'r~ EXPRESS DUTY OF AT.T. BF~FICIARIES ~-~.IR ~EIRS OR ASSI~qS, TO PROVIDE WRITI~N IN- STRUCTIONS PRfI~Y TO COT.T.ECTION ESCM]4 AGENT UPON PAY!.t~'TI' IN FULL OF NCrfES, TO RELEASE DOCL~.AF2~IS ADDITIONAL SERVICES REQUESTED' ( ) advice to payee ( ) advice to obligor ( ) project report AMOUNT TO BE PAID THROUGH YOU BY OBLIGOR, AND TERMS OF PAYMENT: Principal balance unpaid: $ -- Interest at -- .% per annum from the -- day of -- 19~, on unpaid balances. Installments of not less than $ plus/including daily interest. First installment due on or before and subsequent installments due on or before -- SEE ATTA~.D EXHIBIT "A",, _by this refereno~ incorporated herein and made a part hereof DISPOSITION TO BE MADE BY YOU OF PROCEEDS OF PAYMENTS RECEIVED AS FOLLOWS' RELEASE OF DOCII~'ENTS TO OBLIC, ORS UPON WRITI~ INSTRUCTIONS FRDM fiTS. B~qEFICIAPg~, THEIR HEIP~ OR ASSI~S, IT WII,T. BE THE DUTY OF %~ PAYEES TO PROV~ PRD}~ ~'RlITf~lq INSTKUCI%O[~ TO COT .T F~CTION ESCRf~ AGE.Mr UPfIN PAiR~IqT IN FUI~. Multiple payments received with multiple coupons will be posted as such. Any other scheduled or unscheduled over- payments shall be disbursed as directed above unless other specific instructions are given here' Those disbursement instructions marked with ..... may not be changed without written instructions from all parties and constitute conditions of payment through you. Apply payments received to disbursements in the order set forth in these instructions. You may not increase your collection charge without 30 days written notice to the affected party. Your set up fee of $. 60.00 is paid herewith. Your monthly payment charges to be paid by -- At any time, escrow agent may in it's discretion wiLhold disbursement of an unscheduled payment until receipt of written instructions from all parties for the disbursement thereof. THE TERMS ON THE REVERSE SIDE HEREOF HAVE BEEN READ BY THE PARTIES AND SHALL GOVERN THE ADMINISTRATION OF THIS COLLECTION ESCROW. CERTIFICATION. - Under the penalties of perjury, I certify that the information provided on this form is true, correct, and complete. NOTE -- Enter taxpayer's identification (social security) number on lines below. IF THE ACCOUNT HAS MORE THAN ONE NUMBER FOR REPORTING, LIST NAME, NUMBER AND PERCENTAGE TO BE REPORTED FOR EACH. No account will be accepted without complete tax reporting information. PAYE~ ~ ~ OBLIGOR' EXHIBIT A OF COLLECTION INSTRUCTIONS THE FOLLOWING PROVISIONS SHALL APPLY TO THE ADMINISTRATION OF THIS ESCROW. A (1). ACCEPTANCE OF PAYMENTS. You are authorized to accept any payments tendered to you to apply upon the above provided installments whether such payment consti- tutes all or only part of any installment and whether or hot it or any installment is then in default. You w;ll apply each net pay- ment tendered first to interest calculated in accordance with these instructions, with the remainder to be credited to princi- pal unless interest only computations have been elected. Escrow agent will not be responsible for determin~ the intent of obligor where irregular payments are submitted with no instructions on disbursement. A (2). SURRENDER OF DOCUMENTS. If you are advised in writing by the Payee, or the authorized representative of the payee, that a default has occurred, you are authorized to surrender to the Payee or such representative all documents then in your possession, thereby terminating this escrow. The payment of any installment directly to the payee; the existence of any offset, counterclaim, or difference as between the parties hereto; or the acceptance of previous delinquent in- stallments shall not alter or limit the terms of these instructions. B. CONDITIONAL PAYMENTS. You are instructed that if part of the payments made hereunder is being paid to obligation (s) (underlying obligations) secured by any part of the property securing the debt collected hereunder, and if any creditor of payee asserts a claim to any part of any payment made hereunder, the application of that portion to be paid to underlying obligation (s) constitutes a precondition to the application of buyers funds to the debt collected hereunder. the Transferees shall thereupon be substituted for the I rans- ferors, for all the purposes of these instructions. You shall be under no obligation to determine the sufficiency of any conveyance, the right of the Transferors to make the same, or whether, if consent of the other party to these instructions is required, such consent has been obtained. G. RESOLVING CONTROVERSIES. If a controversy shall arise between the parties hereto, or with any third per- son, you may withhold disbursements or delivery of documents ~nd await the outcome of such controversy by final legal 'proceedings, or otherwise, as you may deem ap- propriate, or you may institute such interpleader or other proceedings as you may deem proper, and in any of such events you shall not be liable for interest or damages. In the event of any controversy, whether or not resulting in litigation, or in the event of an action to recover your expen- ses or charges from either or both of the parties hereto, you shall be entitled to reasonable attorney's fees and reimbur- sement for your expenses. H. CHARGES FOR ADDITIONAL SERVICES. In addition to the escrow fee paid or agreed upon at the inception of this escrow, the parties hereto jointly and severally agree to pay your customary and reasonable charges for any services performed hereunder, and any other sums which may be- come due to you hereunder. In addition to any other remedies you may have, you are hereby given a lien upon all funds, documents, and other property held by you hereunder, to secure the payment of all your fees and expenses. C. ADD BACK TAXES. If taxes are to be paid by the payee and credited to principal balance you are obligated only to add taxes at such time as paid receipt is presented, rather than as of the date of payment, without obligation to recalculate interest. D. NO RESPONSIBILITY FOR DOCUMENTS OR THEIR TERMS, BEYOND SAFEKEEPING AND DELIVERY. In consideration of the acceptance by you of this escrow, your obligations and duties in connection herewith are con- fined to those specifically enumerated in these escrow in- structions; you shall not be in any manner liable or respon- sible for the sufficiency, correctness, genuineness or validity of any instruments deposited with you, or with reference to the form of execution thereof or the identity, authority or rights of any person executing or depositing the same; you are under no obligation to ascertain the terms or conditions of any such instruments or to comply in any respect with the terms thereof, and you shall not be liable for any loss which may occur by reason of forgeries, false representations or the excercise of your discretion in any particular manner, or for any other reason except gross negligence or willful misconduct. E. NO COMPUTATION OF LA'rE CHARGES. You shall be under no obligation to determine any delinquency or to give notice to any party of any payments due or to become due or of either non.payment or declaration of default. Your duties herein shall be limited to the safekeeping of such money, instruments or other document received by you as escrow holder, and for delivery of the same in accordance with these instructions. YOU SHALL NOT BE RESPONSIBLE FOR THE COMPUTATION OR COLLECTION OF ANY LATE PAYMENT CHARGE OR PENALTY. I. RESIGNATION AS ESCROW AGENT. You may resign from and cancel this escrow agreement at your option upon ninety days written notice of your intention to do so mailed by ordinary mail to the parties hereto at their respective ad- dresses last known to you. At the expiration of said period you may return the papers herein by ordinary mail, to the Payee, or either of them, or his order; and your liability hereunder shall thereupon cease and terminate. J. OPTION TO CLEAR CHECKS BEFORE DISBUR- SEMENT: PAYEES DUTY. TO REIMBURSE FOR UNPAID FUNDS (e.g. NSF): PAYEES RIGHT TO REFUSE NON COM- PLYING PAYMENTS. All items received by you for ap- plication as payment, or otherwise under this agreement shall be accepted by you as escrow agent subject to collec- tion and the Payee or Obligor promises to reimburse you upon demand for any sums disbursed by you for their respec- tive credit or benefit on any item uncollected thereunder. At your option, you may defer the crediting of any payment until you have collected funds. You shall not be responsible for determining the sufficiency of any payment or performance. You may at your option accept late payments or partial payments from t~he Obligor, but such acceptance shall not bind the Payee in turn to accept such payments and if accep- tance is refused by the Payee, you shall not be liable in any manner to the Obligor or the Payee because of such accep- tance and refusal. In the event Payee wishes to refuse such payment he shall so notify you in writing and you may thereupon return such payment to Obligor. K. PROCEDURE UPON DEATH OF PAYEE. You are au horized to retain all funds coming into your hands ';ereunder after you shall have received notice of the death of one of the Payees until you shall have received from the sur- CRATER TITLE INSURANCE CO. "Our Product is Peace of Mbzd" 485 East Main Street · Ashland, Oregon 97520 · (503) 482-4006 · FAX (503) 482-2941 June 26, 1991 City of Ashland Attn: City Recorder City ttall Ashland, Or. 97520 /. ? RE' Escrow ff $0499-SS Eshoo, et al - City of Ashland Dear Nan or Karen, We have closed escrow on ~e above referenced transaction and I enclose herewith the following docunents. - Our receipt for $5,000.00 earnest rm~ney tendered 4/26/91 - Copy: buyers final closing statement ~ Original agreement frcm City of Ashland to transfer assessment lien. - Copy: Escrow closing instructions - Copy: Partial ~lease of Mortgage from A1 ~.~yer: 91-14557 -/ Copy' Quitclaim Deed from Provost. 91-14554 -j Original Recorded Warranty Deed: 91-14555 - Copy: Instructions to escrow from Richard Roberts, tax counsel - Copy: Correspondence from escrow to Richard Roberts - Copies: four tax opinions (originals forwarded to sellers) - Copies: four promissory n~tes - Copy: Recorded Deed of Trust: 91-14556 - Copies: four request for full reconveyance - Copy: Collection Escrc~q Instructions - Policy of title insurance to foll~q under separate cover Crater Title Insurance Co. will hold the original signed notes, recorded trust deed and requests for full re conveyance for safekeeping; the City of Ashland will be responsible for record keeping and monthly disbursal of check to sellers. The copies of notes herein contain addresses where each party indicated addresses for mailing of checks. Thar~ you again for your kind assistance! Sharon Slack Es crc~q Officer Ashland cc' Garrison Turner Underwritten by First American Title Insurance Company of Oregon c.~r~.~r~r,.~,~.su.^.c.~,, ~. co. N_" l 0 6 8 6 OR 97520 ASHLAND~82'4006 DAT~ ~--ffi ~ 19 ~ / PHON~ ~~~o~ ~~/~~ ' s~~ AMOUNT OF ACCOUNT THIS PAYMENT BALANCE DUE E~c~.,c~.,B. / ~l~aank ~°u ASHLAND, OREGON 97520 ASHLAND, OREGON 97520 13625 4-24-91 $*'5,000.c VENDOR # CHECK NO. CHECK DATE CHECK AMOUNT VENDOR # CHECK NO. CHECK DATE CHECK AMOUNT CRATER TITLE INSURANCE COMPANY BUYER CLOSING STATEMENT JUNE 25, 1991 PAGE 1 ORDER: 80499-SS BUYER' CITY OF ASHLAND GEORGE V. ESHOO, BARBARA ESHOO, JOHN W. STRANBERG, CAROLYN J. STRANBERG, ELLIS V. WILSON, MILDRED WILSON, ANN L. SALTER PROPERTY ADDRESS' BARE LAND/SECOND ST. ASHLAND, OR 97520 SETTLEMENT DATE' 06/25/91 PRORATE DATE: 06/21/91 PRICE' $100,000.00 BUYER CHARGES P.O.C .a2~IOUNT Sale Price EST. SET. COUNTY TAXES $1,920.76 prorated from 06/21/91 to 06/30/91 at 5.262356 per day. Settlement or closing fees to CRATER TITLE INSURANCE CO. 100,000. O0 $52.62 $175.00 Lender's Coverage to CRATER TITLE INSURANCE CO. $40.00 Recording Fee to CRATER TITLE INSURANCE CO. $50.00 COLLECTION ESCROW FEE to CRATER TITLE $30.00 GROSS DUE FROM BUYER 100,347.62 BUYER CREDITS P.O. C AMOUNT Earnest money to CRATER TITLE INSURANCE CO. DEPOSIT TO ESCROW to CRATER TITLE INSURANCE CO. NOTE AND TRUST DEED to ESHO0, STRANBERG, WILSON, SALTER Amount: 70,000.00 5,000.00 25,347.62 70,000.00 TOTAL PAID BY/FOR BUYER GROSS DUE FROM BUYER TOTAL PD BY/FOR BUYER 100,347.62 100,347.62 100,347.62 PL~%SE EXAMINE THIS STATEMENT AT ONCE. If no error is reported in 15 days, the account will be considered correct. Failure to report error within the above 15 days shall constitute CRATER TITLE INSURANCE COMPANY BUYER CLOSING STATEMENT JUNE 25, 1991 PAGE 2 ORDER: 80499-SS THANK YOU FOR THE OPPORTUNITY TO BE OF SERVICE. SHARON SLACK, ESCROW OFFICER TO: CRATER TITLE INSUP~iqCE CO. 485 E. Main Street Ashland, Oregon 97520 RE: Escrow # 80499-SS Reference is made to that earnest money agreement dated April 1, 1991 wherein Ann Salter, George Eshoo, Barbara Eshoo, Ellis Wilson, Hildred Wilson, John Stranberg and Carolin Stanberg are the "sellers" and The City of Ashland is the 'Buyer"; page -2- of said agreenmnt under "Evidence of Title": The City of Ashland agrees that the sellers referenced above shall be allowed to transfer the existing City assess- ment liens from the property being conveyed herein, to the property being retained by the sellers .* The City of Ashland shall not assun~ any portion of said liens, but they shall be transferred to the sellers adjacent property and shall remain subject to t/~e same terms and con- ditions. * Parcel 1 as set forth on map attached hereto~ A copy of the City lien search is attached hereto and by the authorized signatures below, transfer of said lien to sellers remaining property is effected. CITY OF AS}{LAND: by CITY OF ASHLAND 20 East Main Street Ashland, OR 9?520 LIEN SEARCH District / Map / Taxlot: Lien Number: Locat i on: Owner Name: Street: City, State, Zip: 60 / 09BD / 6100 546 N SECOND ST ESHO0 GEORGE V/BARBARA 1800 VALLEY VIEW RD ASHLAND, OR 99520 Installment months: Installment amounts: Overdue Principal to 03/15/91: 3 and 9 5?. 93 0. O0 Principal Outstanding: 8.00~ Interest from 03/15/91: Past Interest Due: TOTAL OWING on 05/16/91: 986.83 12.59 0.00 939.48 INTE~EE~T PER D~M {~8.00X / :365 x $926.83): 0'~O Nan E. Fl-a~l~iin., City Recorder Dated: 05/16/91 CITY OF ASHLAND P-O East Main Street Ashland, OR 9?580 LIEN SEARCH District / Map / Taxlot: 60 / 09BD / 6200 Lien Number: 54? Lc, cation: E MAIN ST Owner Name: Street: City, State, 2ip: ESHO0 GEORGE V/BARBARA 1800 VALLEY VIEW RD ASHLAND, OR 9?580 Installment months: Installment amounts: Overdue Principal to 03/15/91: 3 and 9 98.48 0.00 Principal Outstanding: 8.00% Interest from 03/15/91: Past Interest Due: 1~575.62 21.41 0.00 1,599.03 8.00% / 365 x $1~75.62): ~ · ..... /d4 .... Nan E. Franklin, City Recorder Dated: 05/16/91 Section 9 ,is survey Main St. ~0 ! N'p edge /ravelled o/leX . SW Come, D.t.C. No..I3 L Kd. 19¢9 Jackson County---'-*'4 Surv~yo, bra~ cop mhd Fd 5./8" d/om ct. l~in per H $.H 8330 ../ Ca $. 3,8' 38' 16" W. 0.06' . NWIy boundary of D~ per R, S.I~ 5996 Overhead Power I/ne t' No easemenl found ) SE.~' edge of ~on¢. from SE?)' boundary NETv h'ne of 25' w/de alley ~'OP. No,lb l/nm o ESCROW INSTRUCTIONS TO CRATER TITLE INSURANCE COMPANY DATED June 13, 1991 FROM SELLER: GEORGE V. ESHOO, BARBARA ESHOO, JOHN W. STRANBERG, CAROLYN J. STRANBERG, ELLIS V. WILSON, MILDRED WILSON, ANN L. SALTER CITY OF ASHLAND, A MUNICIPAL CORPORATION 1. PROPERTY DESCRIPTION: This escrow covers real property described in preliminary title report No. 80499-SS of Crater Title Insurance Company, dated June 10, 1991, or if none of the property subject to this escrow is located in Jackson County, then as described in preliminary title report No. of dated 2. TERMS OF TRANSACTION $100,000.00 SALES PRICE 5,000.00 EARNEST MONEY 25,000.00 BALANCE OF DOWN PAYMENT AT CLOSE OF ESCROW 70,000.00 IN THE FORM OF FOUR (4) NOTES EQUAL PROMISSORY NOTES OF $17,500.00 EACH, ONE IN FAVOR OF EACH OF THE SELLING PARTIES, TO BE PAYABLE MONTHLY AND FULLY AMORTIZED OVER A PERIOD OF FIFTEEN (15) YEARS FROM THE CLOSE OF THIS TRANSACTION. INTEREST TO ACCRUE AT TEN (10) PER CENT PER ANNUM FROM CLOSE OF ESCROW. PARTIES HEREIN UNDERSTAND AND AGREE THAT A MATERIAL CONSIDERATION OF THIS SALE IS THAT THE INTEREST SELLERS RECEIVE ON THE NOTES REFERENCED ABOVE WILL BE EXEMPT FROM UNITED STATES AND STATE INCOME TAXES. FOR THE SAME CONSIDERATION, THE PURCHASER AGREES THAT UNDER NO CIR- CUMSTANCES SHALL IT BE ALLOWED TO PRE-PAY ANY PORTION OF EITHER PRINCIPAL OR INTEREST. PARTIES UNDERSTAND AND AGREE THAT THE SELLERS WILL BE ALLOWED TO TRANSFER THE EXISTING CITY ASSESSMENT LIENS FROM THE PROPERTY BEING TRANSFERRED HEREIN TO THE PROPERTY BEING RETAINED BY THE SELLERS. PARTIES HEREIN UNDERSTAND AND AGREE THAT A COLLECTION ESCROW ACCOUNT WILL BE ESTABLISHED WITH CRATER TITLE AT 604 W. MAIN STREET TO HOLD THE FOUR ORIGINAL SIGNED NOTES, RECORDED TRUST DEED AND FOUR REQUESTS FOR FULL RECONVEYANCE FROM EACH OF THE BENEFICIARIES. IT IS FURTHER UNDERSTOOD THAT SAID COLLECTION ESCROW ACCOUNT WILL ACT AS A SECURITY FOR ORIGINAL DOCUMENTS ONLY AND THAT THE BUYER WILL BE BE RESPONSIBLE FOR BOOKKEEPING AND DISBURSAL OF PAYMENTS TO THE FOUR BENEFICIARIES IN THE MANNER THAT THEY MAY INSTRUCT. UPON PAYMENT IN FULL, IT SHALL BE THE DUTY OF EACH BENEFICIARY TO GIVE PROMPT WRITTEN INSTRUCTIONS TO THE COLLECTION ESCROW AGENT TO RELEASE DOCU- MENTS THAT THEY HOLD TO THE BUYERS FOR RECONVEYANCE. THE ESCROW AGENT HEREIN IS AUTHORIZED TO INSERT THE NECESSARY DATES ON THE NOTE AND TRUST DEED~ TO PROVIDE FOR INTEREST FROM THE DATE OF THE CLOSE OF ESCROW, AND TO PROVIDE FOR THE FIRST PAYMENT TO BE DUE ONE MONTH FROM THE DATE OF CLOSE OF ESCROW. SAID DATES MAY ALSO BE INSERTED IN COLLECTION ESCROW INSTRUCTIONS PROVIDED THAT THEY ARE IN AGREEMENT WITH THE DATES IN THE DOCUMENTS DELIVERED WITH SUCH INSTRUCTIONS. The parties herein have agreed to an estimated segregated tax figure based upon good faith estimates, and hereby instruct escrow agent to prorate taxes based upon that estimated figure. Such prorate shall determine the responsibility of the parties for the tax year in question as to their respective property tax liabilities. DOCUMENTS TO BE FURNISHED IN ESCROW: WARRANTY DEED NOTE TRUST DEED kEQUEST FOR FULL RECONVEYANCE COLLECTION ESCROW INSTRUCTIONS W-9 REPORTING PARTIAL SAT. OF MTG/AL MEYER 4. TITLE IS TO BE CONVEYED TO: CITY OF ASHLAND, A MUNICIPAL CORPORATION , CLOSING OF ESCROW: You are authorized to deliver or record the above mentioned documents and disburse funds when you are prepared to issue your title policy as specified below in the amount of ONE HUNDRED THOUSAND AND 00/100 DOLLARS insuring buyer with items Nos. 3,4 of the preliminary title report to remain, showing any exceptions created by the recording of said documents, and the exceptions standard to the policy form. Policy Form: OWNERS 6. CLOSING DATE: This escrow shall be closed on or before June 21, 1991. , PRORATES: Prorated items set forth on Exhibit A, Estimated prorated to June 21, 1991. 8. PROCEEDS: Pay proceeds to seller, or order of seiler. Closing Costs, are to be 9. 10. 11. 12. 13. ESTIMATED CLOSING COSTS: See Exhibit A attached and made a part hereof. Some items are estimates. The final closin~ statement may vary due to per diem charges and other information obtained prior to closing. SELECTION OF DOCUMENT FORMS: The document forms which the parties have instructed the escrow agent to complete have been selected by the parties after such advice and consultation as they have determined to be necessary. All forms furnished by escrow agent have been reviewed and approved by the parties. DETERMINATION OF DISPUTES: Escrow agent shall not be required to determine or arbitrate any dispute of the principals with each other or third parties, but may await the settlement of any such controversy by final appropriate legal proceedim6s or otherwise. Escrow agent may in its discretion, institute such appropriate interpleader or other proceedings as it may deem proper in connection with any dispute. ATTORNEYS' FEES: Should escrow agent become involved in any litigation, including interpleader brought as a result of this transaction, all parties shall be ~otntly and severally liable to agent for all expenses and attorneys' fees which it may incur by reason of such litigation. by it, C05t5, TERMINATION OF ESCROW: This escrow shall be closed on or before the closing date specified in Paragraph No. 6 above. Escrow agent is authorized to close the transaction subsequent to that date provided that a written instruction to the contrary has not been furnished by any of the parties to the escrow. If AT ANY TIME either party to this transaction notifies the escrow agent in writing of its intent not to proceed with this transaction, the duty of escrow agent to complete the same shall cease. Likewise, if this escrow is not completed within thirty days of the closing date as set forth herein or extended in writing, the duty of escrow agent to complete the same shall cease. In either event, all documents and funds not designated as earnest money shall be returned to the parties providing the same, and all escrow cancellation fees, title cancellation fees and costs incurred by escrow agent shall be deducted from the funds held by it. In the event that the parties have provided escrow agent with mutual instructionm-as to the disposition of the balance of earnest money deposited, all funds will be disbursed in accordance therewith. In the event that the parties have not provided instructions for the disposition of the balance of the earnest money when the duty to coarplete the transaction ceases, escrow a~ent shall continue to hold said sum pending such mutual instructions or other adequate directions as to the disposition thereof. For each month thereafter that escrow agent maintains said funds in its account, the sum of $10.00 shall be deducted therefrom for administrative duties. NAME: SSN/ID NO.: NAME: SSN/ID NO.: NAME: SSN/ID NO.: NAME: SSN/ID NO.: 16. Payments made in accordance with the settlement statement are based on demands and information provided to the escrow agent, which may not be 100% accurate. Where shortages occur, the party responsible for the payment will provide escrow agent with any additional funds which may be required to complete payment of the described disbursement. In the event of overpayment, any amount under $5.00 will be credited to escrow agent as additional fees. Any amount over $5.00 will be refunded by endorsement of the refund to the appropriate party without recourse. In either case, the funds supplied or refunded shall not be considered a part of the settlement reflected by the settlement statement. 17. ALL CONTINGENCIES, CONDITIONS AND/OR REQUIREMENTS OF EACH OF THE PARTIES, AS THE SAME ARE SET FORTH ON THE ORIGINAL EARNEST MONEY AGREEMENT OF THE PARTIES, INCLUDING THE TERMS OF ANY ADDENDA, COUNTER-OFFERS OR OTHER ELEMENTS INCORPORATED IN THE FINAL WRITTEN EXPRESSION OF THE PARTIES' AGREEMENT HAVE BEEN MET TO THE SATISFACTION OF EACH OF THE PARTIES. 18. Crater Title Insurance Co., as escrow agent, receives certain benefits as a result of escrow deposits in our escrow trust account. These benefits provide banking services and accounting and computer services. On the average, these benefits amount to approximately $30.00 per escrow. These in kind benefits, which support escrow operations and various costs associated with complicance with state escrow regulations, are utilized to offset the need for higher escrow rates. THE PARTIES HERETO HAVE BEEN ADVISED TO REVIEW THE TRANSACTION WITH THEIR LEGAL AND TAX PROFESSIONALS. THE ESCROW AGENT HAS PROVIDED NO TAX OR LEGAL ADVICE AS TO THE EFFECT OF THIS TRANSACTION, AND NEITHER THE ESCROW AGENT NOR ANY REAL ESTATE LICENSEE INVOLVED HAS ANY RESPONSIBILITY FOR DOING SO. Any matters not covered by these instructions which may arise in connection with this transaction are the responsibility of the parties and shall be handled outside of this escrow, including but not limited to any law, regulation or ordinance affecting this transaction or the property which is the subject hereof. THE ESCROW HOLDER ASSUMES NO RESPONSIBILITY FOR DETERMINING THAT THE PARTIES TO THIS ESCROW HAVE COMPLIED WITH THE REQUIREMENTS OF THE TRUTH IN LENDING LAW, CONSUMER CREDIT PROTECTION ACT OR SIMILAR LAWS. IT IS UNDERSTOOD BY THE PARTIES SIGNING THE ABOVE ESCROW INSTRUCTIONS OR THOSE ESCROW INSTRUCTIONS WHICH ARE ATTACHED HERETO THAT SUCH INSTRUCTIONS CONSTITUTE THE WHOLE AGREEMENT BETWEEN THIS FIRM AS AN ESCROW AGENT AND YOU AS A PRINCIPAL TO THE ESCROW TRANSACTION. THESE INSTRUCTIONS MAY NOT INCLUDE ALL THE TERMS OF THE AGREEMENT WHICH IS THE SUBJECT OF THIS ESCROW (OR MAY VARY FROM THE TERMS THEREOF). READ THESE INSTRUCTIONS CAREFULLY AND DO NOT SIGN THEM UNLESS THEY ARE ACCEPTABLE TO YOU. THE TAXPAYER I.D. NUMBERS FURNISHED HEREIN ARE CORRECT, AND THE PERSON PROVIDING THE SAME SO I~T T T~ 'X! T.?TT ~1~'T B~RB~kRA ESHO0 CAROLYN J. S~RANBERq /~ //~ ) PORTLAND, OR, :72i~0~4{'~ ~'-2 -91-14557 3LL MEN BY THESE PRESENTS, That havin~ received tile sum of .DOLLARS ............................................................... a~ a partial payment on that certain mortgage executed br~or~...~ mortgagor dated . J~y ~, ...... 19.79 .... in ~0~8~ * .............................. mortgagee and recorded Record o[ Mort~n~es {or the Count~ of . JacBm , State number 7%15548 '?'~ (indicate which), on . . J~y 25, .. , 19 79 , does hereby release from the lien oi said mortgage, the following described premises therein described, viz: S~ ~~D ~~T "A" , aka Caroline J. Stranberg M~ C. ~yer by 1mutant recor~d ~ ~~er 7, 1983 ~ ~c~nc ~. 83-21108, 0f~~ ~r~ Ja~ ~m~, ~eg~. '~ md m-recor~d ~c 8, 1979 ~ ~c~c ~. 79-17056, 0fficial ~cor~ of J~s~ ~m~, ~egm. and that the remainder oi said lands in said mortgage s~ciiied shall remain subject thereto as heretofore. In construing this partial release oi mortgage, where the context so requires, singular includes plural and all gra~atic~ changes shall be implied to make the provisions hereo[ apply equally to corporations and to individuals. In Witness Whereof, the grantor has executed this instrument t~s..~.,.day o[ ........... J~ ................. , 19.9~; ii a corporate grantor, it has caused its name to be signed and seal aHixed by its oiiicers, duly authorized thereto by o~der o, it~ board o, directo, s.-- --,~0 )"-~ ~~,~ ..................................... 11[ ~xetuled by o t~rporotion, affix corporato seal) STATE OF OREGON, County o, ..... .............................. ........... ............................. , ..... 9.1.. Personally appeared tho ahov~ nmod ........................ - e. ,.:/~ ~ cane led ed the toregozn~ znstru- . ...... . .... ~'1~ ~...~-.~..; ........ voluntary act and deed. .~.~, %,,,,~~,~,o~ ~,,~s: 10-23-92 STATE OF OREGON, County et ...................................................... ) ss. Personally appeared .............................................................................. and ............................................................................................ who, being duly sworn, each for himself and not one for the other, did say that the former is the ...................................................................... president and that the latter is the ...................................................................... secretary of .......................................... ...................................................... : ................................................... , a corporation, and that the sea/ attixed to the foregoing instrument is the corporate sea/ of said corporation and that said instrument was signed and sealed in be- half of said corporation by authority et its board of directors; and each et them acknowledged said instrument to be its voluntary act and deed. Before me: ........................................................................... (orr~c~An N~;';;;~;/;[;i;li~ for Orego, SSAL) My commission expires: Partial Release of STATE OF OREGON, County of ........................................ ) ss. MORTGAGE ~ certify that the within instru- ......... .~...~..e.~ ........ ment was received for record on the ........................................... . ............. dali, ............ : ................. ,1~ ........ , a, .................. ...... ........................................................................ TO SPACE;(DON'T "£S~awaUSE T"'S in book/reel/vOtq, me No../ ...... .. .......... on FOR a£CORDiNe page ........ ~...or%doc/ment/iee/iile/ ....Es.h..c~...,. et al ... TIES WH,:.,~ instrument/microfilrn~o ........................ USED.) Record of Mortg/~es o~id County. ........................................................................ Witness//my hand a~ seal AFTER RECORDING RETURN TO 485 E Main St ......................................... ' * NAME TITLE Ashland, Or. 97520 80499-SS By .................................................... Deputy :::':;~:T~i::L:~i:~.Z:~-~i-__-~ ::~ _ : : .,. : :":: iL.. ~.'::: :.:: 2...::..~ _:.::i:_- _-2_~L£V:-Lt:::.L: :l -:_ 2. ::'~,'"~- 7:~::E_~ : L :::7. :L '7. ':7~::7._1:7 L: 7~11~:::2¥T_~7" .:Li'q_--:~' ::'~ 7.-~-:_T~._~/i-~i_'~:-T-~::~: EXHIBIT "A" Parcel 2 as shc~n on the Minor Land Partition Plat filed in the office of the Jackscm County Surveyor as No. 12538, and recordmd as partition Plat No. P-59-1991 of "Rmcord of Partition Plats" in Jackson County, Oregon. Jackson County, Oregon Recorded OFFICIAL RECOP. D$ ,/.',~7 JUN 2 51901 p KATHLEEN S. BECKETT FOitM No. 721--QUITCLAIM DEED (Individual or Corporalej. . or. 8~v~'$5 QUITCLAIM DEED COPYRIGHT 1990 STEVENS-NESS LAW PUBLISHING CO.. PORTLAND. OR 9*7204 · KNOW AL~. MEN e¥ tHESE PRESENTS, That .......................................................................................................... ...... ' ~M.S ..... P.~~..&~..3.~.~..~ .... ~~ ................................... hereinafter ~lled grantor, for the consideration hereinafter stated, does hereby remise, release and quitclaim unto...~O~...~ hereinMter called grantee, and unto grantee's heirs, suc~ssors and assigns all of the grantor's right, title and interest in that ~rtain real property with the tenements, hereditaments and appurtenan~s thereunto belonging or in any- wise appertaining, situated in the County of ....... .~a.~.~ .................... , State of Ore~on, described as follows, to-.wit: * Ann L. Salter THIS ~ IS GIV~q TO RELINOUISIt AND EX~IN~I ALL RIC. r~S TO THOSE ~RTAIaN EAS~qTS AS SET FOin~-t TN DOC~,IF2~ i'D. 79-15549, Official Records of Jadcson County, Oregon. Jackson Counly, Oregon Recorded OFFICIAL RECORDS JUN 2 5 1991 fl M. KATHLEEN S. BECKETT (IF SPACE INSUFFICIENT. CONTINUE DESCRIPTION ON REVERSE SIDE) To Have and to Hold the same unto the said grantee and grantee's heirs, successors and aEsir, ns forever. The true and actual consideration paid for this transfer, stated in terms of dollars, is $ .n./..a.. ...................... (D~~,- +~e- ~- e~rmidera t'io n - comqst r 'crf- o r -incltrd'e~ -o-t ~t~ f' -p? ~ ~r? y .or ~ru-e-~fv-e~ or p~SFnTs'~'~v7ffc-h-Tg' par+ et.~h~ cozmrczer'anor~ (indicate which).(D (The aentence between the aymbola (D, it not applicable, ahould be deleted. See ORS 93.030.) In construing this deed, where the context so requires, the singular includes the plural and all grammatical chan~es shall be made so that ttu's deed shall apply equally to corporations and to individuals. In Witness Whereof, the grantor has executed this instrument this..],~.t~ll .... day of ....... .J.~ .................... 19..9...1...; if a corporate grantor, it has caused its name to be signed and'~ts seal af~f~'~ an officer ~r other person duly au- thorized thereto by order of its board of d irector~. TH~S ~NSTRUMENT W~L NOT ALLOW USE O~ THE PROPERTY DS- "~'g'."~'~'O~/~'''~: '""'"'""''~"""-~": ............................................ SCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING ......... ~ ................................ ~ ............................................... THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR ~,"~~ //,~. ~.~...~...~-.~ COUNTY PLANNING DEPARTMENT TO VERIFY APPROVED USES. " ~;{~":~).~ .................................. ~ .............................. s "~' JacKson TA TE OF 0 OUnty of ss ........................................................ , . T~s cknowled~ed before me on J~ ~y...~~~~.~.~:~z.~..~... ~~ ............................................................ . '~%~T"~ .." · -- , ' ............................................................................................. ' ~fZ~ir~ wa~.a~oWled~ed before me on .................................................... , 19 ........ , ~ .... ~, -~---~e~., .... ~~ ...... ~...~.~ .............................................................................................................. . ', ......... .,.~... ........................................................................................................... o, ...... : .... .... ............. ..>. ..................................................................................... .............. ' ',,,,,,,,, ~o" Notary Pubhc for Ore~on My commission expires ............ .10~.2~-92 ................................ Provost STATE OF OREGON, .~~ CTI- 80499-SS FOqM No. 6~']--WARRANTY DEED (Individual or Corporat COPYRIGHT 1990 STEVENS-NI~$$ LAW PUBLISHING CO., PORTLAND, OR g7204 91-14555 KNOW ALL M~N BY THES~ PRESENTS, That.__~9~g~__~,_._~99,___~b~a_Esho. o, Str~e~g, ~rol~ J. Str~e~g, Ellis V. Wilsm, }glUed Wilsm md ~SalEer hereinafter called th~an~&~e ~ns,~g;~n~remaiter stated, to grantor pa,d by the grantee, does hereby grant, bargain, sell and convey unto the said grantee and grantee's heirs, successors and assigns, that certain real property, with the tenements, hereditaments and appurtenances thereunto belonging or ap- pertaining, situated in the County of JA~~ ........ and State of Oregon, described as follows, to-wit: (SEE A%TACHED EXHIBIT "A", which by this reference is incorporated herein) (IF SPACE INSUFFICIENT, CONTINUE DESCRIPTION ON REVERSE SIDE) To Have and to Hold the same unto the said grantee and grantee's heirs, successors and assigns forever. And said grantor hereby covenants to and with said grantee and grantee's heirs, successors and assigns, that grantor is lawfully seized in fee simple o£ the above granted premises, free from all encumbrances EXCEPT any covenants, conditions, restrictions, easenmnts or rights of way or record or apparent on the ground. and that grantor will warrant and forever defend the said premises and every part and parcel thereof against the lawful claims and demands o£ all persons whomsoever, except those claiming under the above described encumbrances. The true and actual consideration paid for this transfer, stated in terms of dollars, is $100,000.00 - · OHowever, the actual consideration consists o£ or includes other property or value given or promised which is ihe whole consideration (indicate which).O (The sentence between the symbols O, if not applicable, should be dele fed. See ORS 93.050.) part of the In construing this deed and where the context so requires, the singular includes the plural and all grammatical changes shall be implied to make the provisions hereof apply equally to corporations and to individuals. In Witness Whereof, the grantor has executed this instrument this .... 2.~.tt3... day of ........... JLlr~ ................. ,19_91..; if a corporate grantor, it has caused its name to be signed ~nd its seal afj~.xed by an o~ficer(O~ oth,~r~ duly authorized to do so by order of its board of directors. A~r~ ~- f,~-~.,~,~2 ~,,. ~'~ ,'~ _ . PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY O~:lfdULll! W . ~i[tu~.r~/ tJaro.Jq]FI1, COUNTY PLANNING DEPARTMENT TO VERIFY APPROVED USES. .,-,-, ," :,-.,.'' ,--,.. ~' .......... /~LJ_iS V. ~lS. on /¥nJ_elrecl Wi~LSDO/ 0~_.~_ STATE OF OREGON, County ............ S~O~ ....................... )ss. This instrument was acknowledged before me on .... .JUiFI~_24.~~?~.~.~...:'~,;;!z.., ....................................................................................................................,.: ..... 2 2 ............. ............ ,...::.: .............. Eshoo, et al STATE OF OREGON, 91-14555 ' EXHIBIT Parcel 2 as shown on the Minor t~_nd Partition Plat filed in the office of the Jackson County Surveyor as No. 12538, and recorded as partition Plat No. P-59-1991 of "Record of Partition Plats" in Jackson County, Oregon. Reserving to the grantors, their heirs, successors, and assigns 'fOr a Period of-fifteen (15)Years from June 25; ]qq] herein, or until the land being sold ceases to be used as a municipal parking lot, whichever date shall be later, an easement which shall allow access from the parcel being retained by grantors onto the parcel being purchased. Grantors and Purchaser acknowledge that at the time of sale and creation of this easement, the point of access for the easement has not been exactly determined, nor has the final design of the municipal parking lot. To create as much certainty as possible, and to insure that Grantors' access is Perfected in a manner that assures that Purchaser shall not suffer a net loss of any parking spaces as a result thereof, this easement is restricted to a single location of access, which shall be 6 feet in width and such access shall be restricted to occurring totally within a 20 foot portion of the Northern boundary, 50-70 feet from the Eastern boundary, as illustrated on Exhibit "B". Purchaser shall design its parking lot so as to leave a five (5) foot wide space within the same twenty (20) foot portion on Purchaser"s side of the Northern boundary; an example is shown on Exhibit "B" for illustrative purposes only. If said five (5) foot wide space needs to be moved by Purchaser because of the exact location of the easement within the twenty (20) foot area finally chosen by Grantors or their heirs, successors, or assigns, such movement shall not cause the net loss of the total number of parking spaces originally installed. Grantors or their heirs, successors, or assigns shall pay for the cost of any re-striping or other repairs or alterations required on Purchaser's parking lot as a result thereof. With the exception of the above mentioned five (5) foot wide space on the Purchaser's parking lot and any authorized alterations and re-striping just provided for, this easement shall not otherwise .interfere with Purchaser's use of said proPerty as a municipal parking lot, or be in contravention of applicable land use and building code provision. This easement is not intended to, and shall not, retain to grantors or their heirs, successors, or assigns any particular right to use the land being conveyed, including for parking purposes, other than is allowed the general public by applicable law, subject to any existing or future ordinances restricting parking privileges of any persons in municipal parking lots. The easement herein reserved shall run with the land being retained by grantors, subject to termination as provided for above. Ail costs associated with the installation of any improvements constructed to effectuate this access easement, including costs of repairs or alterations on Purchaser's land and any necessary improvements thereon, and any future repair or maintenance costs concerning said easement improvements shall be the responsibility of grantors and their heirs, executors and assigns. Grantors and their heirs, successors, and assigns shall have a continuing duty to maintain and repair any improvement constructed pursuant hereto, which shall include the duty to maintain and repair any improvement on the land being conveyed which is constructed or altered to effectuate this easement. Upon termination of this easement, grantors or their heirs, executors and assigns shall be responsible to pay for necessary removal of any improvements and consequential repairs on Purchaser's land and to bring any remaining improvements of Grantor's into compliance with existing building codes necessitated by such termination. GRANTORS HEREI~ relinquish and extinguish all rights to those certain ease- n~nts as set forth in Doc~nent No. 79-15549, Official Records of Jackson County, Oregon. SUBJECT TO. Rights of the public in and to any portion lying within the limits of public roack.~ays, if any, and/or rights of private parties over any portion lying within existing roadways or drive~ays not disclosed by the public records. An easement for overhead Dower lines as disclosed by survey filed in the office of ~e Jackson Co~ty Surveyor~, as No. 8320. Jackson County, Oregon Recorded OFFICIAL RECORDS //:~>' JUN 2 5 I99{ ? M.. KATHLEEN S. BECKETT C-~ERK and RECORDER " - ~____ .: ..... _ _ ~-~-~, PRESTON THORGRIMSON SHIDLER GATES & ELLIS 3200 U.S. Bancorp Tower 111 S.W. Frith Avenue Portland. OR 97204-3688 Telephone: (503) 228-3200 Facsimile: (503) 248-9085 ATTORNEYS AT LAW RICHARD D. ROBERTS June 14, 1991 Ms. Sharon Slack, Escrow Officer Crater Title Insurance Company 485 E. Main Street Ashland, Oregon 97520 Subject: Escrow 'No. 80499 Eshoo et al: City of Ashland Dear Sharon: Enclosed are four original undated opinions relating to the tax-exempt aspects of this transaction. You are authorized to date and release the opinions to the grantors after the notes have been dated and the transaction is closed. Please also insert the date of the notes in the opinions. Please send certified copies of the dated notes and our dated opinion after closing. Please call if you have any questions. Very truly yours, PRESTON THORGRIMSON SHIDLER GATES & ELLIS Richard D. Roberts RDR/pst CC.' Garrison Turner Jill Turner George Eshoo Anchorage · Bellevue · Seattle · Spokane · Tacoma · Washington, D.C. A Partnership Including A Professional Corporation CRATER TITLE INSURANCE CO. 485 East Main St. ASHLAND, OREGON 97520 Phone 482-4006 Jurm 25, 1991 Preston Thorgrin~c~ Shidler Gates & Ellis Attn: Richard D. Roberts 111 S .W. ~ifth Avenue Portland, Or. 97204-3688 RE: Escrow # 80499-SS Eshoo, et al- City of Ashland Pursuant to your instructions dated June 14, 1991 (copy attached) I am enclosing herewith certified copies of your dated opinions and certified copies of notes as they pertain. The original opinions and copies of the notes have been dmlivered to the respective parties this date. CRATER TITLE INSURANCE CO. Sharon Slack Escrow Offioer Ashland cc: Garrison Turner City of Ashland PRESTON THORGRI MSON SHIDLER GATES & ELLIS ATTORNEYS AT LAW 3200 U.S. Bancorp Tower 111 $.W. Fifth Avenue Portland, OR 97204-3688 Telephone: (503) 228-3200 Facsimile: (503) 248-9085 City of Ashland 1175 E. Main Street Ashland, Oregon 97520 Ann L. Salter George F_shoo Barbara P. Eshoo Ellis Wilson Mildred Wilson John W. Stranberg Caroline Stranberg Subject: $70,000 City of Ashland, Oregon Promissory Notes We have acted as special counsel in connection with the issuance by the City of Ashland, in Jackson County, Oregon (the 'Issuer') of its Promissory Notes (the 'Notes'), which are dated .Jur~ 2/+, 199]. and are in the aggregate principal amount'of Seventy Thousand Dollars ($70,000). The Notes are issued to finance the purchase of real property to be used for public purposes. We have examined the law, a duly certified transcript of proceedings of the Issuer and other documents which we deem necessary to render this opinion. We have relied on the certified proceedings and other certifications of public officials regarding questions of fact material to our opinion and have not undertaken to verify the same by independent investigation. We have not received and thus express no opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material relating to the issuance of the Notes or otherwise used in connection with the Notes. Based on our examination, we are of the opinion, under existing law, as follows: 1. The Notes have been legally authorized under and pursuant to the Constitution and Statutes of the State of Oregon and the Charter of the City. The Notes are valid and legally binding special obligations of the Issuer. 2. We are of the opinion that interest on the Notes is excluded from gross income for purposes of federal income taxation under Section 103(a) of the Internal Revenue Code of 1986 (the "Code'). We are also of the opinion that the Notes are not private activity bonds. 3. We are further of the opinion that interest on the Notes is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals or corporations, but is taken into account in the computation of adjusted current earnings for purposes of the corporate alternative minimum tax under Section 55 of the Code and in the computation of the environmental tax on corporations under Section 59A of the Code. 4. The interest on the Notes is exempt from State of Oregon personal income taxes. 5. The opinions set forth herein are only addressed to the Issuer and the initial holders of the Note shown as addressed on the first page of this opinion. Pursuant to the registration requirements of Anchorage · Bellevue · Seattle · Spokane · Tacoma · Washington, D.C. A Partnership Including A Professional Corporation PRESTON THORGRIMSON SHIDLER GATES & ELLIS Legal Opinion June 25 Page 2 ,1991 Section 149(a) of the Code, any transfer of the Note to a subsequent holder may adversely affect the exemption from federal income tax of the interest on the Note. 6. Thc opinions set forth above arc qualified only to thc extent that certain rights and remedies of the Noteowner may be limited or rendered ineffective by applicable bankruptcy, insolvcncy, reorgani:,ation, moratorium or other laws or judicial decisions or principles of equity relating to or affecting the enforcement of creditors' rights or contractual obligations generally. Under the Code, the Issuer is required to comply with certain requirements relating to the use of the facilities financed with the proceeds of the Notes and the use and investment of the proceeds of the Notes. The Issuer has covenanted to comply with these requirements and the opinion expressed in paragraph 2. hereof assumes such compliance. Failure to comply with these requirements may cause the interest on the Notes to be included in gross income for federal income tax purposes retroactively to the date of issuance of the Notes. Except as stated herein, we express no opinion regarding any federal, state or local tax consequences arising with respect to ownership of the Notes. Owners of the Notes should be aware that the ownership of tax-exempt obligations may result in collateral tax consequences. Respectfully submitted, . PRESTON THOR(3RIMSON SHIDLER GATES & ELLIS fa... PRESTON THORGRIMSON SHIDLER GATES & ELLIS ATTORNEYS AT LAW 3200 U.S. Bancorp Tower 111 S.W. Fifth Avenue Portland, OR 97204-3688 Telephone: (503) 228-3200 Facsimile: (503) 248-9085 City of Ashland 1175 E. Main Street Ashland, Oregon 97520 Ann L. Salter George Eshoo Barbara P. Eshoo Ellis Wilson Mildred Wilson John W. Stranberg Caroline Stranberg Subject: $70,000 City of Ashland, Oregon Promissory Notes We have acted as special counsel in connection with the issuance by the City of Ashland, in Jackson County, Oregon (the 'Issuer') of its Promissory Notes (the 'Notes'), which are dated June 24, L99L and are in the aggregate principal amount 'of Seventy Thousand Dollars ($70,000). The Notes are issued to finance the purchase of real property to be used for public purposes. We have examined the law, a duly certified transcript of proceedings of the Issuer and other documents which we deem necessary to render this opinion. We have relied on the certified proceedings and other certifications of public officials regarding questions of fact material to our opinion and have not undertaken to verify the same by independent investigation. We have not received and thus express no opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material relating to the issuance of the Notes or otherwise used in connection with the Notes. Based on our examination, we are of the opinion, under existing law, as follows: 1. The Notes have been legally authorized under and pursuant to the Constitution and Statutes of the State of Oregon and the Charter of the City. The Notes are valid and legally binding special obligations of the Issuer. 2. We are of the opinion that interest on the Notes is excluded from gross income for purposes of federal income taxation under Section 103(a)of the Internal Revenue Code of 1986 (the *Code'). We are also of the opinion that the Notes are not private activity bonds. 3. We are further of the opinion that interest on the Notes is not an item of tax preference for purposes of the federal alternative mLnimum tax imposed on individuals or corporations, but is taken into account in the computation of adjusted current earnings for purposes of the corporate alternative minimum tax under Section 55 of the Code and in the computation of the environmental tax on corporations under Section 59A of the Code. 4. The interest on the Notes is exempt from State of Oregon personal income taxes. 5. The opinions set forth herein are only addressed to the Issuer and the initial holders of the Note shown as addressed on the first page of tl~rs opinion. Pursuant to the registration requirements of Anchorage · Bellevue · Seattle · Spokane · Tacoma · Washington, D.C. A Partnership Including A Professional Corporation PRESTON THORGRIMSON SHIDLER GATES & ELLIS Legal Opinion Page 2 ,1991 Section 149(a) of the Code, any transfer of the Note to a subsequent holder may adversely affect the exemption from federal income tax of the interest on the Note. 6. The opinions set forth above are qualified only to the extent that certain rights and remedies of the Noteowner may be limited or rendered ineffective by applicable bankruptcy, insolvency, reorga~ni?otion, moratorium or other laws or judicial decisions or principles of equity relating to or affecting the enforcement of creditors' rights or contractual obligations generally. Under the Code, the Issuer is required to comply with certain requirements relating to the use of the facilities financed with the proceeds of the Notes and the use and investment of the proceeds of the Notes. The Issuer has covenanted to comply with these requirements and the opinion expressed in paragraph 2. hereof assumes such compliance. Failure to comply with these requirements may cause the interest on thc Notes to be included in gross income for federal income tax purposes retroactively to the date of issuance of thc Notes. Except as stated herein, we express no opinion regarding any federal, state or local tax consequences arising with respect to ownership of the Notes. Owners of the Notes should be aware that the ownership of tax-exempt obligations may result in collateral tax consequences. Respectfully submitted, PRESTON THORGRIMSON SHIDLER GATES & ELLIS PRESTON THORGRIMSON SHIDLER GATES & ELLIS ATTORNEYS AT LAW 3200 U.S. Bancorp Tower 111 S.W. Fifth Avenue Portland, OR 97204-3688 Telephone: (503) 228-3200 Facsimile: (503) 248-9085 June 25 ,1991 City of Ashland 1175 E. Main Street Ashland, Oregon 97520 Ann L. Salter George Eshoo Barbara P. Eshoo Ellis Wilson Mildred Wilson John W. Stranberg Caroline Stranberg Subject: $70,000 City of Ashland, Oregon Promissory Notes We have acted as special counsel in connection with the issuance by the City of Ashland, in Jackson County, Oregon (the 'Issuer") of its Promissory Notes (the 'Notes"), which are dated 3~nna 2Z~. lq91 and are in the aggregate principal amount 'of Seventy Thousand Dollars ($70,000). The Notes are isSUed to finance the purchase of real property to be used for public purposes. We have examined the law, a duly certified transcript of proceedings of the Issuer and other documents which we deem necessary to render this opinion. We have relied on the certified proceedings and other certifications of public officials regarding questions of fact material to our opinion and have not undertaken to verify the same by independent investigation. We have not received and thus express no opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material relating to the issuance of the Notes or otherwise used in connection with the Notes. Based on our examination, we are of the opinion, under existing law, as follows: 1. The Notes have been legally authorized under and pursuant to the Constitution and Statutes of the State of Oregon and the Charter of the City. The Notes are valid and legally binding special obligations of the Issuer. 2. We are of the opinion that interest on the Notes is excluded from gross income for purposes of federal income taxation under Section 103(a) of the Internal Revenue Code of 1986 (the "Code~). We are also of the opinion that the Notes are not private activity bonds. 3. We are further of the opinion that interest on the Notes is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals or corporations, but is taken into account in the computation of adjusted current earnings for purposes of the corporate alternative minimum tax under Section 55 of the Code and in the computation of the environmental tax on corporations under Section 59A of the Code. 4. The interest on the Notes is exempt from State of Oregon personal income taxes. 5. The opinions set forth herein are only addressed to the Issuer and the initial holders of the Note shown as addressed on the first page of tkis opinion. Pursuant to the registration requirements of Anchorage · Bellevue · Seattle · Spokane · Tacoma · Washington, D.C. A Partnership Including A Professional Corporation PRESTON THORGRIMSON SHIDLER GATES & ELLIS Legal Opinion Page 2 ,1991 Section 149(a) of the Code, any transfer of the Note to a subsequent holder may adversely affect the exemption from federal income tax of the interest on the Note. 6. The opinions set forth above are qualified only to the extent that certain fights and remedies of the Noteowner may be limited or rendered ineffective by applicable bankruptcy, insolvency, reorga_ni:,otion, moratorium or other laws or judicial decisions or principles of equity relating to or affecting the enforcement of creditors' rights or contractual obligations generally. Under the Code, the Issuer is required to comply with certain requirements relating to the use of the facilities financed with the proceeds of the Notes and the use and investment of the proceeds of the Notes. The Issuer has covenanted to comply with these requirements and the opinion expressed in paragraph 2. hereof assumes such compliance. Failure to comply with these requirements may cause the interest on the Notes to be included in gross income for federal income tax purposes retroactively to the date of issuance of the Notes. Except as stated herein, we express no opinion regarding any federal, state or local tax consequences arising with respect to ownership of the Notes. Owners of the Notes should be aware that the ownership of tax-exempt obligations may result in collateral tax consequences. Respectfully submitted, PRESTON THORGRIMSON SHIDLER GATES & ELLIS PRESTON THORGRIMSON SHIDLER GATES & ELLIS ATTORNEYS AT LAW ., 1991 3200 U.S. Bancorp Tower 111 S.W. Fifth Avcnuc Portland, OR 97204-3688 Telephone: (503) 228-3200 Facsimile: (503) 248-9085 City of Ashland 1175 E. Main Street Ashland, Oregon 97520 Ann L. Salter George Eshoo Barbara P. Eshoo Ellis Wilson Mildred Wilson John W. Stranberg Caroline Stranberg Subject: $70,000 City of Ashland, Oregon Promissory Notes We have acted as special counsel in connection with the issuance by the City of Ashland, in Jackson County, Oregon (the 'Issuer') of its Promissory Notes (the "Notes'), which are dated June 24, ]_99]_ and are in the aggregate principal amount' of Seventy Thousand Dollars ($70,000). The Notes are issued to finance the purchase of real property to be used for public purposes. We have examined the law, a duly certified transcript of proceedings of the Issuer and other documents which we deem necessary to render this opinion. We have relied on the certified proceedings and other certifications of public officials regarding questions of fact material to our opinion and have not undertaken to verify the same by independent investigation. We have not received and thus express no opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material relating to the issuance of the Notes or otherwise used in connection with the Notes. Based on our examination, we are of the opinion, under existing law, as follows: 1. The Notes have been legally authorized under and pursuant to the Constitution and Statutes of the State of Oregon and the Charter of the City. The Notes are valid and legally binding special obligations of the Issuer. 2. We are of the opinion that interest on the Notes is excluded from gross income for purposes of federal income taxation under Section 103(a) of the Internal Revenue Code of 1986 (the "Code'). We are also of the opinion that the Notes are not private activity bonds. 3. We are further of the opinion that interest on the Notes is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individu',ds or corporations, but is taken into account in the computation of adjusted current earnings for purposes of the corporate alternative minimum tax under Section 55 of the Code and in the computation of the environmental tax on corporations under Section 59A of the Code. 4. The interest on the Notes is exempt from State of Oregon personal income taxes. 5. The opinions set forth herein are only addressed to the Issuer and the initial holders of the Note shown as addressed on the first page of tl~s opinion. Pursuant to the registration requirements of Anchorage · Bellevue · Seattle · Spokane · Tacoma · Washington, D.C. A Partnership Including A Professional Corporation PRESTON THORGRIMSON SHIDLER GATES & ELLIS Legal Opinion June 25. Page 2 ,1991 Section 149(a) of the Code, any transfer of the Note to a subsequent holder may adversely affect the exemption from federal income tax of the interest on the Note. 6. The opinions set forth above are qualified only to the extent that certain rights and remedies of the Noteowner may be limited or rendered ineffective by applicable bankruptcy, insolvency, reorganization, moratorium or other laws or judicial decisions or principles of equity relating to or affecting the enforcement of creditors' rights or contractual obligations gener',dly. Under the Code, the Issuer is required to comply with certain requirements relating to the use of the facilities financed with the proceeds of the Notes and the use and investment of the proceeds of the Notes. The Issuer has covenanted to comply with these requirements and the opinion expressed in paragraph 2. hereof assumes such compliance. Failure to comply with these requirements may cause the interest on the Notes to be included in gross income for federal income tax purposes retroactively to the date of issuance of the Notes. Except as stated herein, we express no opinion regarding any federal, state or local tax consequences arising with respect to ownership of the Notes. Owners of the Notes should be aware that the ownership of tax-exempt obligations may result in collateral tax consequences. Respectfully submitted, PRESTON THORGRIMSON SHIDLER GATES & ELLIS A/ / RichaxWD. Roberts CRATER TITLE INSURANCE COMPANY 604 West Main Street, P. O. Box 250, Medford, Oregon 97501 NOTE $17,500.00 june 24 , 1991 Each of the undersigned promises to pay to the order of ANN L. SALTER , at 861 Clay Street, Ashland, Or. the sum of SEVENTEEN THOUSAND FIVE HUNDRED AND 00/~00 DOLLARS with interest thereon at the rate of 10.000 percent from June 25 , 1991 until paid, payable in monthly installments of not less than $188.06 in any one payment. Interest shall be paid monthly and is included in the minimum payments above requested. The first payment to be made on the 25~ day of July, 1991, and a like payment on the same day of each month thereafter, until the whole sum, principal and interest has been paid. 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 any attorney for collection, each of the undersigned promises and agrees to pay the reasonable collection costs of the holder hereof, and if suit or action is filed hereon, also promises 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 trust deed on real property in JACKSON County, OR and subsequent matters of public record may affect the security, identity of the holder, or other terms hereof. So long as the trust deed remains as security for this note, any transaction relating to this note or the trust deed must be recorded in the above county in order to be effective to the trustee. Due Jur~ 25 2006 UNDER NO CIRCL~;TANCES SHALL THIS N(//~, OR ANY PORTICIN OF PRINCIPAL OR INTEREST %t{ERELN, BE PRE-PAID. CITY OF .~HLAND, A MUNICIPAL CORPORATIO~I_~ Mayor 'J Recorder CRATER TITLE INSURANCE COMPANY 604 West Main Street, P. O. Box 250, Medford, Oregon 97501 NOTE $17,500.00 June 24 , 1991 Each of the undersigned promises to pay to the order of ELLIS V. WILSON and MILDRED WILSON, Husband and wife as tenants b~ the entirety~ at 1475 %~ndsor St., Ashland, Or. the sum of SEVENTEEN THOUSAND FIVE HUNDRED AND 00/100 DOLI2%RS with interest thereon at the rate of ~10.000 percent from .l,_w~ 25 , 1991 until paid, payable in monthly installments of not less than $188.06 in any one payment. Interest shall be paid monthly and is included in the minimum payments above requested. The first payment to be made on the 25th day of July , 1991, and a like payment on the same day of each month thereafter, until the whole sum, principal and interest has been paid. 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 any attorney for collection, each of the undersigned promises and agrees to pay the reasonable collection costs of the holder hereof, and if suit or action is filed hereon, also promises 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 trust deed on real property in JACKSON County, OR and subsequent matters of public record may affect the security, identity of the holder, or other terms hereof. So long as the trust deed remains as security for this note, any transaction relating to this note or the trust deed must be recorded in the above county in order to be effective to the trustee. Due June 25 , 2006 UNIER NO CIRCI~TANCF?q SHALL THIS NOTE, OR ANY PORTION OF PRINCIPAL OR INTENT THEREIN, BE PRE-PAID. Mayor - Recorde~ ' CRATER TITLE INSURANCE COMPANY 604 West Main Street, P. O. Box 250, Medford, Oregon 97501 NOTE $17,500.00 june 24 , 1991 Each of the undersigned promises to pay to the order of GEORGE V. ESHOO and BARBARA ESHO0, Husband and wife as tenants by'the entirety at 1800 N. Valley View, Ashland, Ozhe sum of SEVENTEEN THOUSAND FIVE HUNDRED AND 00/100 DOLLARS with interest thereon at the rate of 10.000 percent from June 2~ , 1991 until paid, payable in monthly installments of not less than $188.06 in any one payment. Interest shall be paid monthly and is included in the minimum payments above requested. The first payment to be made on the 25th day of July , 1991, and a like payment on the same day of each month thereafter, until the whole sum, principal and interest has been paid. 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 any attorney for collection, each of the undersigned promises and agrees to pay the reasonable collection costs of the holder hereof, and if suit or action is filed hereon, also promises 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 trust deed on real property in JACKSON County, OR and subsequent matters of public record may affect the security, identity of the holder, or other terms hereof. So long as the trust deed remains as security for this note, any transaction relating to this note or the trust deed must be recorded in the above county in order to be effective to the trustee. Due June 25 , 2006 CZ USTA NOra, OZ PORTION OF PRINCIPAL OR LNTEREST t RELN, BE PREP AID. CITY__OF/ASHLAND, ,A MUNICIPAL CORPORAT~ bhyor gacorc~rZ CRATER TITLE INSURANCE COMPANY 604 West Main Street, P. O. Box 250, Medford, Oregon 97501 NOTE $17,500.00 June 24 , 1991 Each of the undersigned promises to pay to the order of JOHN W. STRANBERG and GAROLINE J. STKANBERG, Husband and wife as tenants by the entirety at 1675 N. Valley View, AShl~nd,~O~he sum of SEVENTEEN THOUSAND FIVE HUNDRED AND 00/100 DOLLARS with interest thereon at the rate of 10.000 percent from Jttr~ 2~ , 1991 until paid, payable in monthly installments of not less than $188.06 in any one payment. Interest shall be paid monthly and is included in the minimum payments above requested. The first payment to be made on the 25th day of July , 1991, and a like payment on the same day of each month thereafter, until the whole sum, principal and interest has been paid. 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 any attorney for collection, each of the undersigned promises and agrees to pay the reasonable collection costs of the holder hereof, and if suit or action is filed hereon, also promises 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 trust deed on real property in JACKSON County, OR and subsequent matters of public record may affect the security, identity of the holder, or other terms hereof. So long as the trust deed remains as security for this note, any transaction relating to this note or the trust deed must be recorded in the above county in order to be effective to the trustee. Due June 25 , 2006 UNIER NO CIRCIlVMTANCES SHALL THIS NOTE, OR ANY PORTIflN OF PRINCIPAL OR Ii~fEREST THEREIN, BE PRE-PAID. , .... '?~-~t 0°' ='~.~;~"* Fr'Ol~! CRATER TITLE INS. ?0 ASHLAND .~TI- 80499-SS 91-14556 TKUST DEED ~ ~ 9.,~, 9~ ,.~.~,. THIS TRUST D~D, made thi~ 2~h ....... d.F el J~ ................................................................................. , IK..~.~.., between .Qas Grantor,. ........... ~.~...~.~..~~~.~...~.,.,...~..~gQD...~Q~~ ............................ , a~ Trustee, and rge...~.,...E~.~.o...~..B.~b.~a.,~.~k~Q ..... ~...~o...~..~~d..lia..tn~er~a~;..Jo~.I4 ..... S:r~rE..~ ~!~..2.,,.~.~,rg,,,, ~....:o...~.,~~d..1Za..in~m~:;..Ellte...V..,..Wi h~..~ 2~~a..~h~, a~ Beneficiary, . ', WITN~SSETH: Grantor irrevocably ~rant~, ba:Nains, ~ella and conveye to trustee in trust, with power of sale, the property ~' ~n ........... .~.~ ........................... County, Ore,on, described (~n~d fr~ ~o~) ~ ~o ~ m~~d m~~d 1/4 incense. Parcel 2 as shown on tha Minor Land Parr/cian Plat filed in the office of the Jackson Cbun~ Sm-vayor as No. 12538, and reeorded as Partitic~ Plat No. P-$9-1991 of "P~cord of Patti:ion Plats" in Jackson County, Oregon. now or hereaite~ appe~ta;ni~, and th~ r~nt~, i.ue~ dad ~rotit~ theteot and aH Hxture~ now or her~atter atta~ed to or u~ed in connec- tion with ~id real FOR THE ~UR~OS~ OF SECURINO ~ERFORM~C~ ct each a~t~ement ot ~rantor her~in confined and payment of the note ct even date herewith, payable to beneti~ar~ or order and m~do ~y ~rantor, the final payment ot ~rJnci~ and tnt~r~t hereof, The date el maturity at th~ debt ~cured by th;~ Instrument i~ tho datO, ~tated above, on which the tinal inataltment of aaid note become due and payable, ~n the ewnt the wit3in detcrtbed property, or any part tbereo~ or a~ internee t~rein is aold, aEteed to acid, ~nv~yed, aas/~aed Or alienated by the arantor without tatar havtnJ obtained the written consent or approval et the then, at the beneticiary'~ o~tion, all oblJ~atio~ t~cured by thi~ tn~ttu~e~t, irrespective o~ the matuttty datea expressed thercia, or hdraln, ~ll ~CO~e immedia~ely due ~ payable. ~o protect the security el thl~ tru3t deed, ~rantor and repair; ~t ~ remove ct dimol;~ any buiJdin~ Og J~tovement thereon/ 4ubordJnet~n cz other ajreement all~ctin~ thJ~ de~d ct the )lan or charJe 3, ~O ~m~/Y w/th all Iowa. Ord/~el, tejulattotltt ~venanta, ronda- aery/au mim;o~ed Jn this ~ta~taph IhdlI be not leal than ~5, jOJfl Iff 4XeOUlJ~d s~h tl~ncJn~ atatementi purauant to the Un;term ~ommtt- time without not'e, either ~n paean, by ascot or by d r~geJvet to be ~w or h~e~ter er~ted on tar ~ pte~aea a~a~nit loam et damaje by lire ney'm Ieee upon any Jhdebtedneaa ieeured hereby, and ;n auoh otd,~ at ~d suc~ other ~u~da aa the bane/inety ~y Item f~me fo time requtre, in IJelary may determine. an amount ~r ]ta~ than t ................................................................ , II. ~he enterln6 u~n and takta~ $oatflaJon et aaid property, the ~mpa~ea aCCeptable to the beneticiaty, w;t~ loaj payable to the letter; ail collect;off ct eu~h rents, Jiaue~ 4~ prolite) or the proeled~ ct tlre dndother d lhe ~rintor aAall lad Jot lay reamn go procure any ouch ~n~urance and to pmflerfy, and the application or telaaae ~heteot al aJoreaa;d, ahall not cure d~ivu Mid ~/ie/ea to the bene/~y at lea. (l(teen daft ~rlOr to the expire, weave any delauit or ~tieO el delauit hereu~er et invalidate any act done tlon el any ~HGy OI t~iwra~e now Or herealter placed on Mid bul]~l, puriuant tO e~gh flOtige. ' the benetlc~ary may pr~e the name at ~rantor'~ exgeflle. ~he amount ~, Upon deJault by arantot In ~ayment et any tndebtedneea e~ured ~ll~t~ uffdat any t~e or other ~autance policy may be app2~ by benatJ- hereby or ~n hJa perlOrmanCe el any a~reement ~ereund~. time beJn~ el t~e may der~mtne, or at opdon el be~elicJaty gar eatffe amount aa colle~rea, or d~/ara all ~ume aecur~ hereby immedmtely due and payable, In au~h an any part ther~l, ~y be releaaed to ~rantor. Such.application Of reieaee Ihdl~ ¢veflt t~e beneI~iary at Ail eIeation may proceed to tateeloae thi, trust not cure o, waive any detault O' no,lee oJ delaulf Aerevnaet et ;nva]Jdate any ~ equJfy aa a mortaaae or dJte~l the ttultee to Iorecloae thin true( d~e~ by art done purauant to ouch ~tlCe. a~vett~eamant a~ s~e, or may d~r~t the ttuUee to putaue any other.r~ht or 5. To Aarp ~d premier lree iron conatfttctJon l/eno and to pay all remedy, e;fhet df Idw or ;n ,ruby, which zhe benetJcJat~ may have. In the event taxel, aa~a~enta and other ch~ei that may ba levied or dalel~d W~fl Ot tha beneJ/c/arF al~t~ to lor~lole bF advertiaement and aa/e, the benelic;ary or d~almt ~Jd 9,ogerty be/o,e any 9~rt et I~ch taxfl, aeeeaamenta and other the t~lt*e ahall execote ~ c~aae to be e,~td,d Aia written notice el ~ar~es become pant due or delinguent and promptly dtlJv~t ~li~tl there(or ~nd h~a elbe;on to nell fha aaJd dca~ib~ r~! properly fO adf]a/y fha oblJ~aflan fO beMtJ~aty; eAou;d zhe ~ranto~ taJ] to maba 9ayment el Iny tazea, a,~aa- aeeuted .heteb~ whereupon the taunter aha]; tjx the tim. and place al ia/e, hive make ouch 9aFfeCt, befletJg~ry may, 4t ill Option, make payment thereof, 25. Alter the ttuataa ~aa ~mmenced tot~loaure by advertileme~t and arid the a~unt io p~d, with in~ere~ at the rate art torah ~n t~4 ~te ~ecured aa/e, and 4t any Hme proof go J day~ betoro the data the ttgltee condu~;~ the ttU~ deed. ~all be added ~0 ~ become a,p~t el the debt ~a~ured by th~a the d~ault or data,ltl. It the detault ~onaiata el a torture to pay~ when due, arty her~alora deacr~ed, al well aa the ~rantor. abel) be bound te tar riot the~ be due had ~ detault occurred. Any other detault ihat ia capable ~e e~tent that they ~, b~ tot tar p,yment el fha obligation hlre;~ be;n~ cured may be ~ur~ by render~n6 the pettot~a teq~)r.d under out ~g~Ce, ~d the ~npayment ther~t ih~l, at the option et the b,netialaty, detauita, tar peraon ellectJn~ the cure ahall pay to tho benetJ~ary all ~mt~tate a breach el th~s ~ruat deed. 91-14556 The ~rantor covenants and a~ree= to and with the beneticiary and those claimin~ under him, that he ia law- fully =ei;ed in Ice =Jrnple o! =aicI de~cribed re,~l property and ha= a valid, unencumbered title th=rate and thor he will warrant and forever defend the same a~ain~t all per, one whomsoever. p,r,ona,, ,.m,ly o, ~ou.ho/d ~ur~o,., ~. Important Notl~ (even ii ~rantor i; a nora,si ps.on) =~e toe buaineea or commercial purposfl, Thio deed apptiei to, inures to ~he beneiit o~ and bhld~ ell parties hereto, ~helr heirs, lei~atee., devi=ees, ~d~niatr~ora, executors, ~r~nal roprosentatJve~, ~uccesaor= and a~ai~na. T~e term beneHclary ~hall mean t~e holder and owner, includ~n~ pled~ee, ot the contract secured hereby, w~ethet o~ not named ~ ~ benetl~ary herein, In con.ruln~ this deed ~nd whenever the contexi ~ require~, the masculine IN WITNESS WHEREOF, said ~rantor has hereunto sot hls.h~nd the day and year tJr, t above written. ~ IM-~01~TANT NOTICE: Del,ts, by lining out, whichever warranty {a} or (b) Is net a~pll~able/ If warranfy (a) I~ appll~abl~ and the beneficlaw Is a cmdlter as such werd i~ defln~ In the Truth-jrt-Lending Act and Regulation Z, the ~neficla~ MUST comply with the Act and Regulation by making required disclo~uresl for thl~ purpose use Sleven~-Ne~s Fe~m No. 1319~ er equlvalenf. If compliance with the Act Ii not requital, diE. hard Ibis notice. STATE OF OREGON, County o! .... r..~:~-~..-"..~.:: ......................... This instrument wa~ acknowled~,ed betore me on ............. ..~./,.'.<.~.::.~. ..... :~.~... ........ by ................. ~ne.. ~:L...~.~n,...L~.or...~...t~.. ~... oz..~~ ........................ '~ Thi~ instrument w~s ac~owled~ed betore . .... --:~ ....... :-~,-~- -~_~ ~'-:='-~:-~--~-' .................................................................. : .......................................................................... ............................................. , ........ : ................... .................................................... ~TAI~'/ ~i}}~l_~ ~ 0~i~0~ { ' ~ . ~otary Pubfic for Ore,on ,/_ ~y Commi.ion Expire,--. ~-f:'. ;:- · FORM NO, ~ '" ACKNOWI-[DGM[N'T STATE OF Co~ty of ........ ~.~~ ............................. . ~E IT REMEMBERED, That on tht~ ...... ~.~ .............. day ot ................ ~ ................................ , I~.~.., before me, the under~ned, a ~otary Publio in and for said ~ounty and State, personally appeared the within ........ ' ........ : ................................................. ,~ .~-~-o:'?~ ~ ............................................................. ~nOWn tO "' . IO BE L~ED ONLY WHEN OBLIGATIONS HAVE BEEN PAID IN FILL. TO: CRA2YJ% TITLE INSURANCE OD. The undersigned is the legal o~r and holder of all indebtedness secured by Trust Deed dated June 24, --1991 and recorded as Instrument No. 91-,,, ~-f th6 OfficialRm~ of JACKSCN ODII~fY on J~ 25. , 1991_d~ All suns secured by said Trust Deed have been fully' ' paid and Sa . You hereby are directed, on paymmnt to you of any sn~s c~ring to you under the germs of said Trust Dined or pursuang to statute , to cancel all evidances of indebtedness secured by said Trust Deed (which are delivered to you herewith together with said trust deed) and to reconvey, without warranty, to the parties designated by the terms of said Trust Deed the estate now held by you under the saturn. Mail reconveyanc~ and docume~_~nts to: Dated: Caroline J~ S t~anberg ~ . ._ Beneficiary" %0 BE LMED ONLY WHEN OBLIGATIONS ~HAVE BEEN PAID IN FULL. TO: CRATER TITLE INSURANCE CO. /ha undersigned is the legal c~mr and holder of all indebtedness secured by Trust Deed dated June 24, , 1991 and recorded as Instrunmmt No. 91- o-f the' offieiai Rm~"~ of JACKS~IN COUNI% on Jurm 2b , 1991. Ail su~s secured by said Trust Deed have been fully Paid and Satzs~-f~i-~d. You hereby are directed, on payment to you of any s~nm owing to you under the terms of said Trust Deed or pursuant to statute , to cancel all evidences of indmbtednmss secured by said Trust Deed (which are delivered to you herewith together with said trust c~ed) and to reconvey, without warranty, to the parties dmsignated by the terms of said Trust Deed the estate now held by you under the saturn. Mail reconv~yance and docunmnts to: Dated: EIi~s V. Wilson -Beneficiary ,RE~Y-qT FOR FULL RECONVEYANCE TO BE LMED ONLY WHEN OBLIGATIONS 'HAVE BEEN PAID IN FULL. TO: CRATER TITLE INSURANCE CO. The undersigned is the legal c~mr and holder of all indebtednmss secured by Trust Deed da~ed Jurm 24 , 1991 and recordmd as Ins~~t No. .... 9~- ~f ~ officiai~R~--~ of JACKSON COUNTY on J~ 25 , 1991 · All suns secured by said Trust Deed have been -fully pard a~d 'satisfie'd. You hereby are directed, on payment to you of any sur~_ owing to you under the terms of said Trust Deed or pursuant to statute , to cancel all evidences of indebtedness secured by said Trust Deed (which are delivered to you herewith together with said trust c~ed) and to reconvey, without warranty, to the parties designated by the terms of said Trust Deed the estate now held by you under the santo. Mail reconveyance and doc~nmnts to: Da~ed: ~ ~lter RI~I.F. BT FOR FULL REODNVEYANCE 70 BE LMED ONLY WHEN OBLIGATIONS HAVE BEEN PAID IN FIR~. TO: CRATER TITLE INSURANCE CO. The undersigned is the legal owner and holder of all indebtedness secured by Trust Deed datad June 24, , 1991 and recorded as Instrument No. 91- o-f rJ'xe' Official Ra~--~'~ of Jg/I<SON 00IlqTY on ' June 25 ,, '1991 . Ail suns secured by said Trust Deed have been ~ly paid and 'sat. iS'fie'd. You hereby are directed, on paynmnt to you of any s~ o~ring to you under the terms of said Trust Deed or pursuant to staru~e , to cancel all evidences of indebtednmss secured by said Trust Deed (which are delivered to you herewith together with said trust deed) and to reconvey, without warranty, to the parties designated by the terms of said Trust Deed the estate now held by you under the saturn. Mail reconveyance and docu~nts to: Dated: ~ ~nef£c~ary Barbara Eshoo Beneficiary