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Home My WebLink About1994-051 Trust Deed - Gunter RESOLUTION NO, 94- '~' A RESOLUTION DEDICATING PROPERTY FOR PARK PURPOSES PURSUANT TO ARTICLE XIX, SECTION 3, OF THE CITY CHARTER (GUNTER PROPERTIES). THE CITY OF ASHLAND RESOLVES AS FOLLOWS: SECTION 1. The land described on the attached Exhibits A and B is dedicated for park purposes pursuant to Article XIX, Section 3, of the Ashland City Charter. This resolution was read by title only in accordance with Ashland Municipal Code § 2.04.090 duly PASSED and ADOPTED this /$~ day of ~~. ,1994. Nan E. Franklin, City Recorder SIGNED and ~%PPROVED this -~,~ ~ day of '~-~ , 1994. Catherine M. Golden, Mayor Reviewed as to form: Paul Nolte, City Attorney PAGE i-RESOLUTION DESIGNATING PROPERTY FOR PARK PURPOSES (GUNTER PROPERTIES)~:~.~) L~-59790 94-27549 TRACT A - Beginn/r~ at a point cn ~he ~ 1~ of ~ ~tain A~, ~ ~t ~ ~.0 f~t ~. 41 ~ ~p 39 ~, ~ 1 ~ of ~ Wi~ ~ ~ J~ ~, ~; ~ ~ 89"~' ~ 156.~ f~t; ~ ~ 169.~ f~t ~ ~ ~t of ~~. (Code 5-1, _;u~cc~nt #1-5115-4, Map #391E4ED, Ta~ Lot #200) TRACT B - PA~ORr_. I Cu,.,~c/r~ at a 5/8" ~ pin located at tk~ ~ oorr~_r of Lot Thirty-sev~n (37) of Ashlar~ Acres, _~_o_-~lin~ to the official plat tP~ln~of, nc~ of record; ~ 0'04'50" West a~ the ~ 1/he of said Lot, be/n~ also the east 1/he of Mountain Average, 367.52 feet to t~e west-~ co~]-~r of that tract _~__,t~"ibed in r~-,n,-ded as Rb. 71-13153 of t~ Offic/al ~ocords of Jaoksc~ County, (~ fo~: the true point of beginning; ~ c~tinue SouUh 0"04'50" west (Rec__o_.d South) along said 1/r~, 320.00 feet; the~oe East 647.62 feet, mcxe Or less, to a point C~ the southerly ~ of said tract descmibed in __~m~w~ r~__,i--C_~3~ as Document No. 71-13153 said Off/cial thehoe alcr~j tP~ southerly 1/he of said tz-dc~, th~ fo]low/n~ oourses: North 44"32'00" 325.48 feet, No~[/~ 72°21'20" West 132.49 feet ar~ No~-i~h 80°43'10" West 296.53 feet to true point of beginn/r~. ** West (Code 5-1, A~n~unt #1-5066-1, Map #391E04DA, Tax Lot #300) PAl%~Fr. II - O3~ at the ~outb~t CO~T~_r of ~ ~ ~ ~. 41 ~ ~p 39 ~ ~ 1 ~ of ~ ~~~ ~ J~ ~, ~; ~ ~ 0"~'~" F~ (~ ~h) 570.10 f~t; ~ ~ ~.~ f~t ~ ~ ~ ~ of ~tn A~ ~ ~ ~ ~t of __~; ~ ~ ~ ~1.~ f~t; ~ ~ 211.70 f~t; ~ ~ 475.~ f~t ~ ~ ~~ ~ of ~ ~ ~ it ~ ~ ~ __~ ~ V~ 96 ~ 198 of ~ ~ _~ of J~ ~, ~, ~ ~ ~ ~ly l~of ~ ~-~ (37) of ~ ~, __~ ~ ~ off~ ~t ~f, ~ of _~; ~ ~ ~ ~, ~ f~ ~: ~ ~"15'~" ~ 4.~ f~t, ~h 39"29'~" ~ 1~.~ f~, ~ ~'~'~" ~ 191.~ f~t ~ ~ ~ ~ly 1~ of ~ ~-~ ~ ~ _~ · ~ ~t ~. 71-131~ of ~ ~f~ ~ of J~ ~, ~; ~ ~, ~ ~ ~ly ~, 9.70 f~t ~ ~ ~ ~~ ~ of ~d ~; ~ ~ ~ ~ ~ly ~ of ~d ~, ~ fo~ ~: ~ ~"41'~" ~ 1~.20 f~t, (~o~d 1~.~ f~t), ~ 56"18'~" ~ ~9.~ f~t, ~ ~32'~" ~ 49.~ f~t; ~ ~ ~ ~~ly ~, ~ ~7.62 f~, ~ ~ ~, ~ ~ ~ ~ of ~n A~ ~ ~t ~ ~ 0~'~" FA~ 896.70 f~t ~ ~ ~.~ f~t f~, ~ ~~ ~ of ~d ~ ~ ~ ~. 41; ~ ~ 0"~'~" ~ (~ ~) ~ ~d ~ ~, ~.70 f~ ~ ~ ~~ ~ of ~ ~ ~ ~~ ~ ~ Vol~ 499 ~ 372 of ~ ~ ~of~ of J~ ~, ~; ~ ~ 89"~'~" ~ 156.~ f~t ~ ~ ~~ ~ ~f; ~ ~ 169.~ f~t ~ ~ ~~ ~ ~, ~ ~ ~ ~ ~ of ~ ~~ ~ ~~t ~ ~ Vol~ 499 ~ 371 of ~ ~ ~ of J~~, ~; ~ ~ 89"~'~" ~, ~ ~ ~.10 f~t ~ ~ ~~ ~ ~f, ~ ~ ~ ~ 1~ of ~m~n A~; (Code 5-1, A:,_-cunt #1-05114-8, Map ~391~34DD, Tax Lot #100) (Code 5-8, ~:-_~:unt #1-11369-9, Map ~391E04DD, Tax Lot #100) OFFICIAL RECORDS ,JUL 7 # KATHLEEN $. BECJ(L~IT 'Jackson County, C)r~g~ Recorded 2.'?~ JUN 0~/1994 KATHLEE~I' S.~ECKETT ~,:~--~---~-., ¢ EXHIBIT B Beginni~ at a point c~ the east 1/he of North l~Dunta/n Ave_hue, which point bears 30.0 feei~ F_~ and 580.90 feet North of t~ soui~t corr~r of Dc~ticx~ Land Ci~ No. 41, Township 39 South, Range 1 F_~st of the willam~tt~ Merid/an /n Jackso~ Omunty, Or~jc~; ~ ~ 111.8 feet; ~ Norizh 89'30' w~t; 303.10 feet; iuhenoe South 111.8 feet; ~ South 89" 30' West 303.10 feet tD the ~oint of be~inm/~. (Code 5-1, Aooount #1-5116-2, Map ~%391E4DO, Tax Lot Subject To: 1. T~ effect of said pro~, or any part thereof, ly/r~ with/n the Talent Irrigat/cn DiStr/ct, ar~] subject to all water ~ irrt~atic~ r/ghts, easements for ditches and ml~, cq.r~ all regulations of s~/d Dist~£ct, /nc/;~cj any and all assessments, 3-~ and ~son ~n~ ~-~ Oi::HClAL RECORDS ~-'/m JUN 0Si994 ~T~ S. B~ O._./ JACKSON COUNTY TITLE DIVISION CONTINENTAL LAWYERS TITLE COMPANY 370 LITHIA WAY ASHLAND, OREGON 97520 TEL:(503)488-2240/FAX:(503)488-1786 June 7, 1994 CITY OF ASHLAND 20 EAST MAIN STREET ASHLAND OR 97520 Re: Escrow No. LA-59790 Dear Closing Department: We are pleased to advise that the above numbered escrow has been completed, and the following items are enclosed as indicated: Escrow Settlement Statement. ~ Deed recorded June 3, 1994 as Document No. 94-21123.,~ ~-~7~Z~ Copy of Note in the amount of $115,000.00. ~- Copy of Deed of Trust recorded as No. 94-2112~' You will be receiving a completed copy of the collection escrow instructions from the Collection Department shortly, along with coupons for your payments. As no collection escrow has been established for the note, you will need to contact the beneficiary as to where payments are to be made. AT THE TIME OF PAYMENT IN FULL, PLEASE BE SURE TO REQUIRE THE ORIGINAL NOTE, TRUST DEED AND REQUEST FOR FULL RECONVEYANCE FROM THE BENEFICIARY IN ORDER TO OBTAIN A RELEASE TO CLEAR THE LIEN FROM YOUR PROPERTY. FOR YOUR INFORMATION: If you have not received the tax bill for the property you have purchased by NOVEMBER 1ST , please contact the Tax Collector's Office for the bill. (If taxes are included in your monthly payment, YOUR LENDER MAY RECEIVE THE TAX BILL, instead of you.) We wish to thank you for this opportunity to be of service to you, and to assure you that if you have any questions regarding the enclosures, we will be happy to assist you. Sincerely, JULIE THOMAS, C.E.O. Escrow Officer CONTINENTAL LAWYERS TITLE COMPANY JACKSON COUNTY TITLE DIVISION 370 LITHIA WAY ASHLAND, OREGON 97520 FINAL ESCROW STATEMENT OF: Buyer/Borrower: CITY OF ASHLAND Property Location: 391E4DD TL200 & 391E4DA TL300 ASHLAND OR Close of Escrow: Escrow Officer: 06/03/94 JULIE THOMAS, C.E.O. (L) - Denotes Lender Deducted Fee Escrow No.: LA-59790 Debits Credits CREDITS CITY OF ASHLAND/DEPOSIT Trust deed with Seller .......................... 138,034.21 115,000.00 DEBITS Purchase Price .................................. County taxes paid in advance from 06/03/94 to 07/01/94 .................. 28 days at 13.058333 per day Recording of Deed ............................... Trust Deed to CONTINENTAL LAWYERS .... Title Insurance Premium to CONTINENTAL LAWYERS ........................ Settlement or closing fee ....................... Site Inspection in lieu of Survey ............... CONTINENTAL LAWYERS Deposit to LA-59874 Set up Collection Escrow CONTINENTAL LAWYERS ......................... 240,000.00 365.63 40.00 15.00 1,378.25 565.00 50.00 10,376.33 75.00 Sub-totals 252,865.21 253,034.21 Check Herewith 169.00 TOTAL ~U,~E ~H~MAS,~'C. E. O. 253,034.21 253,034.21 PROMISSORY NOTE $115,000.00 Medford· Oregon JUNE 2, 1994 · 1994 I/WE, JOINTLY AND SEVERALLY, PROMISE TO PAY TO THE ORDER OF JAMES EDWIN GUNTER and DORIS MARIE GUNTER, husband and wife or the survivor thereof AT PLACE DESIGNATED BY BENEFICIARY, THE SUM OF ONE HUNDRED FIFTEEN THOUSAND AND NO/100 DOLLARS, WITH INTEREST THEREON AT THE RATE OF 7 PERCENT PER ANNUM FROM JUN[ 3, 1994 UNTIL PAID, PRINCIPAL AND INTEREST PAYABLE IN MONTHLY INSTALLMENTS OF NOT LESS THAN $28,047.43 IN ANY ONE PAYMENT; EACH PAYMENT AS MADE SHALL BE APPLIED FIRST TO ACCUMULATED INTEREST AND THE BALANCE TO PRINCIPAL; THE FIRST PAYMENT IS TO BE MADE ON THE 3 DAY OF JUN[ , 19 95, AND A LIKE PAYMENT ON THE SAME DAY OF EACH MONTH THEREAFTER, UNTIL JUN[ 3, 1999 , WHEN THE WHOLE UNPAID BALANCE HEREOF, IF ANY, SHALL BECOME DUE AND PAYABLE; IF ANY OF SAID INSTALLMENTS IS NOT SO PAID, THE WHOLE SUM OF BOTH PRINCIPAL AND INTEREST TO BECOME IMMEDIATELY DUE AND COLLECTIBLE AT THE OPTION OF THE HOLDER OF THIS NOTE. IF THIS NOTE IS PLACED IN THE HANDS OF AN ATTORNEY FOR COLLECTION, I/WE PROMISE AND AGREE TO PAY HOLDER'S REASONABLE ATTORNEY'S FEES AND COLLECTION COSTS OF THE HOLDER HEREOF, AND IF SUIT OR ACTION IS FILED HEREON, ALSO PROMISE TO PAY (1) HOLDER'S REASONABLE ATTORNEY'S FEES TO BE FIXED BY THE TRIAL COURT AND (2) IF ANY APPEAL IS TAKEN FROM ANY DECISION OF THE TRIAL COURT, SUCH FURTHER SUM AS MAY BE FIXED BY THE APPELLATE COURT, AS THE HOLDER'S REASONABLE ATTORNEY'S FEES IN THE APPELLATE COURT. THIS NOTE IS SECURED BY A DEED OF TRUST OF EVEN DATE HEREWITH WHICH CONTAINS A CONSENT CLAUSE. THERE SHALL BE N0 PREPAYMENT PENALTY. 94-275 w. ~, str~ (P.o. ~ 2].8) M~for~, ~ 975m (5o3) 7~9-aszz 5,,;z . ~ .,'- ';>~' 0i4 97501 and DORIS MARIE 6L~TER CITY OF ASHLAND with ~e ~.~n%~, ~~s~ts a~d ~ ~eun~o ~ ~r ~ laln- in~, situated in ~he Oma~ of J~ , Sta%e of Oregon, described as follows SEE EXHIBIT "A" A~PACHED H~EEO A~D MADE A PART H~OF **This instrument is being re-recorded to correct the legal description Covenants, cc~ditic~as, restrictices, reservations, rights and rights of way now of record c~ the subject property. is $ 240,000.00 . SPACE FCiC'SLOE JAMES HIFiN (t3NT5I{ and DORIS MARIE ~a~l ~ ~~,~ ~,~ .......... JULIE /,~,. NE ~1~ ,~ OFFICIAL ~~ ~ 97520 ~'~ ~' ......... ~S~UNe~],~S ~ 94-~1~ [.A-59790 ~4-g7.549 E~-!TRT~ A TRACT A - Be~/nn/r~ at a point c~ the east line of North Mountain Avenue, which point bears 30.0 feet East a~ 692.70 feet North of the southeast corr~r of Dc~atic~ ¥_~nd Cla/m No. 41 in Township 39 South, Rar~3e 1 East of the Willamette Meridian in Jacksc~ Oounty, Oreck; thehoe North 89°30' East 156.20 feet; thehoe North 169.30 feet; thehoe South 89°30' West 156.20 feet; ~ South 169.30 feet to the point of b~/n~. (Code 5-1, Aooount #1-5115-4, MaD ~391E4ED, Tax Lot #200) TRACT B- PANCEL I C~.;;~r~ at a 5/8" irc~ pin located at the ~ oorner of Lot Thirty-~ (37) of Ashlar~ Ac~-es, acoord/~ ~ ~ offi~ plat ~f, ~ of ~; ~ ~ 0°~'~" ~ ~ ~ ~ 1~ of ~d ~t, ~ ~ ~ ~ 1~ of ~~ A~, 367.52 f~t ~ ~ ~-~~ ~ of ~t ~-~ ~~ ~ ~~t ~ ~ ~. 71-131~ of ~ Offi~ ~ of J~ ~, ~ f~ ~ ~ ~t of ~~; ~ ~t~ ~ 0~'~" ~ (~ ~) ~ ~d 1~, 320.~ f~t; ~ ~ ~7.62 f~t, ~ ~ 1~, ~ a ~t ~ ~ ~~ly 1~ of ~d ~ ~~ ~ ~ ~ ~ ~t ~. 71-131~ ~d Offi~ ~; ~ ~ ~ ~~ly 1~ of ~d ~, ~ foll~ ~: ~ ~32'~" ~/** 325.~ f~t, ~ 72~21'20" ~ 132.49 f~t ~ ~ ~'10" ~ 296.53 f~t ~ ~ ~ ~t of ~~. ** W~t (Code 5-1, Aooount #1-5066-1, M~p #391ED4DA, Tax Lot #300) PANCEL II - C~,.,~_~ at t~ southeast oorr~_r of ~ti~ [~ Ci~ ~. 41 ~ ~p 39 ~ ~ 1 w~ of ~ Will~ ~i~ ~ J~ ~, ~; ~ ~ 0~'~" ~ (~ ~) 570.10 f~t; ~ ~ ~.~ f~t ~ ~ ~ 1~ of ~~ A~ ~ ~ ~ ~t of ~~; ~ ~~ ~ ~1.20 f~t; ~ ~ 211.70 f~t; ~ ~t 475.~ f~t ~ ~ ~ 1~ of ~ ~ ~ it ~ ~ ~ ~ ~ Vol~ 96 ~ 198 of ~ ~ ~ of J~ ~, ~, ~ ~ ~ ~~ly 1~ of ~ ~-~ (37) of ~~ ~, ~~ ~ ~ offi~ plat ~f, ~ of ~; ~ ~ ~d 1~, ~ foll~ ~: ~ ~°15'~" ~ 4.~ f~t, ~ 39~29'~" ~ 1~.~ f~t, ~ ~°20'~" ~ 191.~ f~t ~ ~ ~ ~~ly 1~ of ~ ~~ ~ ~ ~ ~ ~t ~. 71-131~ of ~ ~fi~ ~ of J~ ~, ~; ~ ~, ~ ~d ~~ly 1~, 9.70 f~t ~ ~ ~ ~~ ~ of ~d ~; ~ ~~ ~ ~ ~~ly 1~ of ~d ~, ~ foll~ ~: ~ ~°41'~" ~ 122.20 f~t, (~ 120.20 f~t), ~ 56°18'~" ~ 229.~ f~t, ~ ~°32'~" ~ 49.~ f~t; ~ 1~ ~d ~~ly 1~, ~ ~7.62 f~t, ~ ~ 1~, ~ ~ ~ 1~ of ~ta~n A~ ~d ~t ~ ~ 0~'~" ~ 896.70 f~t ~ ~ ~.~ f~t f~,, ~ ~~t ~ of ~d ~~ ~ Cl~ ~. 41; ~ ~ 0~'~" ~ (~ ~) ~ ~d ~ 1~, ~.70 f~t ~ ~ ~ ~ of ~ ~~ ~ ~t ~ ~ Vol~ 499 ~ 372 of ~ ~ ~ of J~ ~, ~; ~ ~ 89~'~" w~ 156.20 f~t ~ ~ ~ ~ ~f; ~ ~ 169.~ f~t ~ ~ ~~t ~ ~f, 1~ ~ ~ ~ 1~ of ~ ~~ ~ ~t ~ ~ Vol~ 499 ~ 371 of ~ ~ ~ of J~ ~, ~; ~ ~ 89°~'~" F~.~, ~ ~d 1~, 146.90 f~t ~ ~ ~ ~ of ~d ~; ~ ~ 111.~ f~t ~ ~ ~~ ~ ~f; ~ ~ 89°~'~" ~ ~ ~ ~ 1~ of ~d ~, ~.10 f~t ~ ~ ~~ ~ ~f, 1~ ~ ~ ~ 1~ of ~~ A~; ~ ~ 0~'~" ~ (~ ~), ~ ~d ~ 1~, 10.~ f~t ~ ~ ~ ~t of ~~. (Code 5-1, Acoount #1-05114-8, Map #391E04DD, Tax Lot #100) (Ckxle 5-8, Aooount #1-11369-9, Map #391E04DD, Tax Lot #100) Racord~ OFFICIAL RECORDS ~T~LEE~ ~ L~K and ~~ FORM No. 881~Oregon Trust Deed $e,'ies--TRUST DEED. COPYRIGHT 1992 5TEVF. N5 I'qE55 LAW ,~u~_~_l~r~,?~u au., , ........=~=: ::~;. ..................................................................................................................................................................... ................................................................... ? .......................................................................................................................... , os Orontor, .... C~ST~.~.~B.Th.h...L~.~.S~.~.T.Z~LE...~.~R~Y.~..~...~a~f.~.rn.5a...Car~.ra.t.~an ......... as Trustee, and WI TNESSE TH: Grantor irrevocably grants, bargains, sells and conveys to trustee in trust, with power oF sale, the property in .... ~_~.~_~_~D. ................................ County, Oregon, described as: In ~ ~t ~ ~ ~ is ~ ~i~ for ~s ~ of ~t is ~f~ ~ wi~t ~ ~i~ ~t of ~ ~fi~ ~~, ~ ~t ~]1 ~t ~ ~bly wi~d. See Exhibit "A" Attached hereto together with all and singular the tenements, heredlfaments and appurtenances and all other rights thereunto belonging or in anywise now or hereafter appertainlng, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connection with the property. FOR THE PURPOSE OF SECURING PERFORMANCE of each agreement o! grantor herein contained and payment of the sum of .... TEEN OHSAND AND N 1 0 ...................................... H ........... Of ..0 ............ ** ~~~t~ ( ~]~ OO0 , OO ] ~ ~ ~* ~* ~** ~ ~ ~*D¥o~ars with interest thereon according to the terms of a promissory note of even date herewith, payable to beneficiary or orde~and~made by grantor, the final payment of principal and interest hereof, ii not sooner paid, to be due and payable ......... .~..u..i~__e. ................... ~ ..... 19_ 9.9. The date of maturity of the debt secured by this instrument is the date, stated above, on which the tinal installment of the note becomes due and payable. In the event the within described property, or any part thereof, or any interest therein is sold, agreed to be sold, conveyed, a~signed or alienated by the grantor without tirst having obtained the written consent or approval of the beneficiary, then, at the beneficlary's option· all obligations secured by this instrument, irrespective of the maturity dates expressed therein, or herein, shall become immediately due and payable. To protect the security of this trust deed, grantor agrees: 1. To protect, preserve and maintain the property in good condition and repair; not to remove or demolish any building or im- provement thereon; not to commit or permit any waste of the property. 2. To complete or restore promptly and in good and habitable condition any building or improvement which may be constructed, damaged or destroyed thereon, and pay when due all costs incurred therefor. 3. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the property; if the beneficiary so requests, to join in executing such financing statements pursuant to the Uniform Commercial Code as the beneficiary may require and to pay for filing same in the proper public office or offices, as well as the cost of all lien searches made by filing officers or searching agencies as may be deemed desirable by the beneficiary. 4. To provide and continuously maintain insurance on the buildings now or hereafter erected on the proper.~i,]al~a~{&s damage by fire and such other hazards as the beneficiary may from time to time require, in an amount not less than ~.u.:~. ~ .~cu.u~, written in companies acceptable to the beneficiary, with loss payable to the latter; all policies of insurance shall be delivered to the bene- ficiary as soon as insured; if the grantor shall fall for any reason to procure any such insurance and to deliver the policies to the beneticiary at least fifteen days prior to the expiration of any policy of insurance now or hereafter placed on the buildings, the beneficiary may pro- cure the same at grantor's expense. The amount collected under any fire or other insurance policy may be applied by beneficiary upon any indebtedness ~ecured hereby and in such order as beneficiary may determine, or at option of beneficiary the entire amount so collected, or any part thereof, may be released to grantor. Such application or release shall not cure or waive any detault or notice of default here- under or invalidate any act done pursuant to such notice. 5. To keep the property free from construction liens and to pay all taxes, assessments and other charges that may be levied or assessed upon or against the property before any part of such taxes, assessments and other charges become past due or delinquent and promptly deliver receipts therefor to beneficiary; should the grantor fail to make payment of any taxes, assessments, insurance premiums, liens or other charges payable by grantor, either by direct payment or by providing beneficiary with funds with which to make such pay- ment, beneficiary may, at its option, make payment thereof, and the amount so paid, with interest at the rate set forth in the note secured hereby, together with the obligations described in paragraphs 6 and 7 of this trust deed, shall be added to and become a part of the debt secured by this trust deed· without waiver of any rights arising from breach of any of the covenants hereof and for such payments, with interest as aforesaid, the property hereinbefore described, as well as the grantor, shall be bound to the same extent that they are bound for the payment of the obligation herein described, and all such payments shall be immediately due and payable without notice, and the nonpayment thereof shall, at the option of the beneficiary, render all sums secured by this trust deed immediately due and pay- able and constitute a breach of this trust deed. 6. To pay all costs, fees and expenses of this trust including the cost of title search as well as the other costs and expenses of the trustee incurred in connection with or in enforcing this obligation and trustee's and attorney's fees actually incurred. 7. To appear ih and defend any action or proceeding purporting to affect the security rights or powers of beneficiary or trustee; and in any suit, action or proceeding in which the beneficiary or trustee may appear, including any suit for the foreclosure of this deed, to pay all costs and expenses, includir~ evidence of title and the beneticiary's or trustee's attorney's fees; the amount of attorney's fees mentioned in this paragraph 7 in all cases shall be fixed by the trial court and in the event of an appeal from any judgment or decree of the trial court, grantor further agrees to pay such sum as the appellate court shall adjudge reasonable as the beneficiary's or trustee's at- torney's fees on such appeal. It is mutually agreed that: 8. In the event that any portion or all of the property shall be taken under the right of eminent domain or condemnation, bene- ficiary shall have the right, if it so.'elects, to require that all or any portion of the monies payable as compensation for such taking, NOTE: The Trust Deed Act provides that /he trustee hereunder must be either an attorney, who is an active member of the Oregon State Bar, a bank, trust company or savings and loan association authorized to do business under the laws of Oregon or the United Stales, a title insurance company autho- rized to insure !itle to real properly of this state, its subsidiaries, affiliales, agents or branches, the United States or any agency thereof, or an escrow agent licensed under ORS 696.505 to 696.58.5. TRUST DEED SPACE RESERVED FOR HECORDER'S USE ....C.I.TX... Q F....A S.I-[LAND .......................................... Granlor .... .G.[lr~..t.e.r_ ................................................................... Beneficiary After Recording Return to (Name, Address, Zip): .... .$. a C.k.~.Q.n.....C.Q.U n...t y_..Ti._t.!.e.... Di_v_ is_io.~. .... .3.7_.0.... L i thin... g/a y. ............................................ .... Aa hl ancl...O.R...9..7.5.2 0. ....................................... STATE OF OREGON, ~ County oi .......................................... f ss. I c~rtiiy that the within instru- ment was received £or record on the ........ day ~ .................................... ,19 ........ , at ................ X~iclock ....... M.~d recorded ............... on page .................. k'" or/~s ieeffile/instru- rnen~/rnlcrofilrn/~ept;on No ............... Record of ......... _//....x,X ...... o£ said County. Wit~2~ss myX~and and seal o£ ........ ~-;;~ ................................~ ........;;;-j ....... By .................................................., Deputy JACKSON COUNTY TITLE DIVISION CONTINENTAL LAWYERS TITLE COMPANY 370 LITHIA WAY ASHLAND, OREGON 97520 TEL:(503)488-2240/FAX:(503)488-1786 June 7, 1994 CITY OF ASHLAND 20 EAST MAIN STREET ASHLAND OR 97520 Re: Escrow No. LA-59874 Dear Closing Department: We are pleased to advise that the above numbered escrow has been completed, and the following items are enclosed as indicated: 2. 3. 4. Escrow Settlement Statement. Deed recorded June 3, 1994 as Document No. 94-21130.-~ Copy of Note in the amount of $44,000.00. Copy of Trust Deed recorded as No. 94-21131. ~ ~- You will be receivin9 a completed copy of the collection escrow instructions from the Collection Department shortly, along with coupons for your payments. As no collection escrow has been established for the note, you will need to contact the beneficiary as to where payments are to be made. AT THE TIME OF PAYMENT IN FULL, PLEASE BE SURE TO REQUIRE THE _0~!_~N~_N_/ITE, TRUST DEED AND REQUEST FOR FULL RECONVEYANCE FROM THE BENEFICIARY IN ORDER TO OBTAIN A RELEASE TO CLEAR THE LIEN FROM YOUR PROPERTY. FOR YOUR INFORMATION: If you have not received the tax bill for the property you have purchased by NOVEMBER 1ST , please contact the Tax Collector's Office for the bill. (If taxes are included in your monthly payment, YOUR LENDER MAY RECEIVE THE TAX BILL, instead of you.) We wish to thank you for this opportunity to be of service to you, and to assure you that if you have any questions regarding the enclosures, we will be happy to assist you. Sincerely, ~~LI~E THOMAS, C.E.O. Escrow Officer CONTINENTAL LAWYERS TITLE COMPANY JACKSON COUNTY TITLE DIVISION 370 LITHIA WAY ASHLAND, OREGON 97520 FINAL ESCROW STATEMENT OF: Buyer/Borrower: CITY OF ASHLAND Property Location: 391E4DD TL300 ASHLAND OR 97520 Close of Escrow: Escrow Officer: 06/03/94 JULIE THOMAS, C.E.O. (L) - Denotes Lender Deducted Fee Escrow No.: LA-59874 Debits Credits CREDITS CITY OF ASHLAND/DEPOSIT Escrow ...................................... Trust Deed with Seller .......................... 10,376.33 44,000.00 DEBITS Purchase Price .................................. County taxes paid in advance from 06/03/94 to 07/01/94 .................. 28 days at 1.619083 per day Recording of Deed ............................... Trust Deed to CONTINENTAL LAWYERS .... Title Insurance Premium to CONTINENTAL LAWYERS ........................ Settlement or closing fee ....................... Set Up Collection to CONTINENTAL LAWYERS ..... Site Inspection in lieu of Survey ............... CONTINENTAL LAWYERS Talent Irr Transfer Fee ........................ Talent Irr District 54,000.00 45.33 40.00 15.00 50.00 118.50 37.50 50.00 20.00 Sub-totals 54,376.33 54,376.33 Balance due this company 0.00 TOTAL [J~~I1~.T~TH'~O~OMA~-:C.~..O. .~~' 54,376.33 54,376.33 PROMISSORY NOTE $44,000.00 Medford, Oregon JUNE 2, 1994 · 1994 I/WE, JOINTLY AND SEVERALLY, PROMISE TO PAY TO THE ORDER OF JACK R. GUNTER and BETTY IRENE GUNTER, husband and wife or the survivor thereof AT PLACE DESIGNATED BY BENEFICIARY· THE SUM OF FORTY FOUR THOUSAND AND NO/100 DOLLARS, WITH INTEREST THEREON AT THE RATE OF 6 PERCENT PER ANNUM FROM JUN[ 3, 1994 UNTIL PAID· PAYABLE IN ANNUAL INSTALLMENTS OF NOT LESS THAN 810,445.44 IN ANY ONE PAYMENT; INTEREST SHALL BE PAID ANNUALLY AND IS INCLUDED THE MINIMUM PAYMENTS ABOVE REQUIRED; THE FIRST PAYMENT IS TO BE MADE ON THE 3 DAY OF JUN[ , 19 95 , AND A LIKE PAYMENT ON THE SAME DAY OF EACH JUNE THEREAFTER, UNTIL THE WHOLE SUM, PRINCIPAL AND INTEREST HAS BEEN PAID. IF ANY OF SAID INSTALLMENTS IS NOT SO PAID· ALL PRINCIPAL AND INTEREST TO BECOME IMMEDIATELY DUE AND COLLECTIBLE AT THE OPTION OF THE HOLDER OF THIS NOTE. IF THIS ,NOTE .IS PLACED IN THE HANDS OF AN ATTORNEY FOR COLLECTION, I/WE PROMISE AND AGREE TO PAY HOLDER'S REASONABLE ATTORNEY'S FEES AND COLLECTION COSTS, EVEN THOUGH NO SUIT OR ACTION IS FILED HEREON; HOWEVER, IF A SUIT OR AN ACTION IS FILED, THE AMOUNT OF SUCH REASONABLE ATTORNEY'S FEES SHALL BE FIXED BY THE COURT, OR COURTS IN WHICH THE SUIT OR ACTION, INCLUDING ANY APPEAL THEREIN, IS TRIED, HEARD OR DECIDED. THIS NOT~ IS SECURED BY A DEED OF TRUST OF EVEN DATE HEREWITH WHICH CONTAINS A CONSENT CLAUSE. THERE SHALL BE NO PREPAYMENT PENALTY. .)4-21130 O gsc C0t!~fY TITLE DMSI(~q (I~TI]~ LA~ TI~%E (~ANY 502 W. Y~'~n Street (P. 0. Box 218) Medford, 0~ 97501 I~ETUR~J TO I)~('_K~I'J CC'.(!~TY ~:!T'.E DIVISICI~I 502 'W[5. ~',":,: ':; ~ ' "' i'4>, ')7501 JACK R. GUNTER and BETTY IRS~qE (NJNTER (503) 779-2811 hereinafter called the GranT~r, f~r the cx~si~e~_ atic~ hexe/nafter stated, to Grantor by CITY OFASHLAND with the tenements, hered/taments and appu~-~ thereunto belc~gin~ ~r apper~_a~u- ing, situated in the Co%~ty of Jackson , State of Oregon, described as follows to wit: SEE EXHIBIT "A" A~PACHED HERETO AND MADE A PART HEREOF And Grantor hereby coremants to and with Grantees and the heirs of th~ survivor ar~ their assigns, that Grantor is lawfully seized in fee simple of the above granted t~s~ises, free fr~m all emcu~m-~nces, _EXCm:~ SEE EXHIBIT "A" A~TAC~ED HERETO AND MADE A PART HEREOF and that Grantc= will warrant a~d fore~e~- defend the said pr~nises and every part and parcel thereof a~a/nst the lawful cla/ms and dema~4-~ of all ~ ~h~ms~%~r, except THE T~3E AND ACTt~L CC~S~nERATIC~ paid f~r this transfer, stated in terms of dollars is $ 54,000.00 changes shall be implied to mak~ the provisions hereof apply ec~l ly to individuals and to cqrparatiar~. ~N WITNESS ~R~OF, the grant~r has executed this instrtm~t this~ day of ~J[JA! ~ , 1994. VIOLATIf~q OF APPLIC2%BLE IAND USE LAWS AND Pd~GULATI~. BEFORE SIG~ING OR ~,'~ THIS ( OF The fcxego~ instzurent was acknowl~ befo,-e me this~ No~%ry Public fo~ Oregon My cu,~dssiom expires Mail Tax Sta~m~nts to: Grantee 20 East Main Street Ashland OR 97520 day of J .36 SPACE FOR RECORDER' S USE · 1994, LA-59874 EXHIBIT A Beginning at a point on the east line of North Mountain Avenue, which point bears 30.0 feet East and 580.90 feet North of the southeast ~orner of Donation Land Claim No. 41, Township 39 South, Range 1 East of the Willamette Meridian in Jackson County, Ore~; thence North 111.8 feet; ~ North 89°30' East 303.10 feet; thehoe South 111.8 feet; thehoe South 89° 30' West 303.10 feet to the point of beginning. (Code 5-1, Aocount #1-5116-2, Map #391E4DD, Tax Lot #300) Subject To: 1. The effect of said property, or any part ~f, lying within the Talent Irrigatic~ District, and subject to all water and irrigation rights, easements for ditches and canals, and all regulations of said District, including any and all assessments, liens and lacksen Counly, Orc~16i~ Recorded OFFIC!AL RECORDS .2.',,¢ JUN 0 3 1994 fM. KATHLEEN $. BECKETT .CLERK and RECORDER FORM No. 881--Orego~ Trust D~d Series--TRUST DEED. ~' EVENS-NE$$ LAW PUBLISHING CO TLAN ~"fOE 97204 r usr Z ED., a e .. .........day ...................2.u.__n...e. ..................................... ....be , een CITY OF ASHLARD ................................................................... . ..........................................................................................................................., as Gra..qtor, ....... `C.~`~.~.N.~T~[..N..E..N.?..A..~.~.~...A..W...y`~.~.~.~.~.~.~T~.CQ~ ..... c3.. C~..i£..o.r.D, ic~. C.Q~pQ~c3..ti.o~ ...... as Trustee, and ........... .5...A...C..g__.R..:...G.P...N..T~_R......a...qQ....B..~.ZT~....I.P, ENE,...G.UN~ER ..... ku~.ba..n.cL.~,ncL..~..Le....o~_...~e....s.u~:.v.±.~o ! WITNESSETH: 0[~_.., ~1 , ~ntor irrev?~ably grants, bargains, sells and conveys to trustee in trust, with power of sale, the property in i' ...................~'~' ................... County, Oregon, described as: In the event the pmpe2L-y which is t~ sec~r±L~z for tl~s deed of trust ±s transf~ or w±thouL the wr±L-to~ ~t of the l~aue£±c~ary l~__re~, which o:ausenL shall r~c be ummmsonably w±thheld. See ExhSb±t "A" Attached together with all and singular the tenements, hereditaments and appurtenances and all other rights thereunto belonging or in anywise now or hereafter appertainlag, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connection with the property. FOR THE PURPOSE OF SECURING PERFORMANCE at each agreement of grantor herein contained and payment of the sum ~ * *_*..*.._*_'~_~.~_.~.~.~.'~.(.4_4.,.0. Q0....0.0_)*.~..*..~.~.~'.'~_*..*.*.'~.~'..* *.* m,ars, with interest thereon according to the terms of a promissory note of even date herewith, payable to benefi.ciary or, orde~ .and made by grantor, the final payment of principal and interest hereof, if ! not sooner paid, to be due and payable a E m a 12 u r 1 E y 19 ..... The date at maturity of the debt secured by this instrument is the date, stated above, on which the final installment at the note becomes due and payable. In the event the within described property, or any part thereof, or any interest therein is sold, agreed to be sold, conveyed, assigned or alienated by the grantor without first having obtained the written consent or approval of the beneficiary, then, at the beneflciary's option, all obligations secured by this instrument, irrespective of the maturity dates expressed therein, or herein, shall become immediately due and payable. To protect the security of this trust deed, grantor agrees: I. To protect, preserve and maintain the property in t~ood condition and repair; not to remove or demolish any building or im- provement thereon; not to commit or permit any waste of the property. 2. To complete or restore promptly and in good and habitable condition any building or improvement which may be constructed, damaged or destroyed thereon, and pay when due all costs incurred therefor. 3. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the property; if the beneficiary so requests, fo ]oin in executing such financing statements pursuant to the Uniform Commercial Code as the beneficiary may require and to pay for filing same in the proper public office or offices, as well as the cost of all lien searches made by filing officers or searching agencies as may be deemed desirable by the beneficiary. 4. To provide and continuously maintain insurance on the buildings now or hereafter erected on the propert4< ~alnst 1os~ or damage by fire and such other hazards as the beneficiary may from time to time require, in an amount not less than written in companies acceptable to the beneficiary, with loss payable to the latter; all policies of insurance shall be delivered to the bene- ficiary ae soon as insured; if the grantor shall fail for any reason to procure any such insurance and to deliver the policies to the beneficiary at least fifteen days prior to the expiration of any policy of insurance now or hereafter placed on the buildings, the beneficiary may pro- cure the same at grantor's expense. The amount collected under any fire or other insurance policy may be applied by beneficiary upon any indebtedness secured hereby and in such order as beneficiary may determine, or at option of beneficiary the entire amount so collected, or any part thereof, may be released to grantor. Such application or release shall not cure or waive any default or notice of default here- under or invalidate arty act done pursuant to such notice. 5. To keep the property free from construction liens and to pay all taxes, assessments and other charges that may be levied or assessed upon or against the property before any part of such taxes, assessments and other charges become past due or delinquent and promptly deliver receipts therefor to beneficiary; should the grantor fail to make payment of any taxes, assessments, insurance premiums, liens or other charges payable by grantor, either by direct payment or by providing beneficiary with funds with which to make such pay- ment, beneficiary may, at its option, make payment thereof, and the amount so paid· with interest at the rate set forth in the note secured hereby, together with the obligations described in paragraphs 6 and 7 of this trust deed, shall be added to and become a part of the debt secured by this trust deed, without waiver of any rights arising from breach o! any of the covenants hereof and for such payments, with interest as aforesaid, the property hereinbefore described, as well as the grantor, shall be bound to the same extent that they are bound for the payment of the obligation herein described, and all such payments shall be immediately due and payable without notice, and the nonpayment thereof shall, at the option of the beneficiary, render all sums secured by this trust deed immediately due and pay- able and constitute a breach of this trust deed. 6. To pay all costs, fees and expenses of this trust including the cost of title search as well as the other costs and expenses of the trustee incurred in connection with or in enforcing this obligation and trustee's and attorney's fees actually incurred. 7. To appear ih and defend any action or proceeding purporting to affect the security rights or powers o! beneficiary or trustee; and in any suit, action or proceedin~ in which the beneficiary or trustee may appear, including any suit for the foreclosure of this deed, to pay all costs and expenses, includin~ evidence of title and the beneficlary's or trustee's attorney's fees; the amount of attorney's fees mentioned in this paragraph 7 in all cases shall be fixed by the trial court and in the event of an appeal from any judgment or decree of the trial court, grantor further agrees to pay such sum as the appellate court shall adjudge reasonable as the beneficiary's or trustee's at- torney's fees on such appeal. It is mutually agreed that: 8. In the event that any portion or all of the property shall be taken under the right of eminent domain or condemnation, bene- ficiary shall have the right, if it so elects, to require that all or any portion of the monies payable as compensation for such taking, NOTE: lhe lrust Deed Act provides !hat the trustee hereunder most De either an attorney, who is an active member of the Oregon State Bar, trust company or savlngs and loan association authorized ~o do business under the laws of Oregon or the United States, a title insurance company autho- rized to insure title to real property of lhis state, its subsidiaries, affiliates, agents or branches, the United States or any agency thereof, or an escrow agent licensed under ORS 696.505 to 696.585. STATE OF OREGON, TRUST DEED ss. County o£ ........................................... CITY OF ASHLAND I certify that the within instru- ......................................................................................... meat was receiK~d for recor~ on the ......................................................................................... . .......day oi ..; ...........~ ............/Z...., 19 ........, Grantor SPACE RESERVED at ................o clock ....~..M.~nd recorded .........................................................................................RECO.~,E.'S ~SEpage ........................of~s~e/file/instru- ......................................................................................... ment/ rnicro£ ilrn / r~e ptionX~ o ................. , "o.otl,ioo' Record of ........ / ..............of s~ix~ County. Wit~ss my hand an~xseal dackson County TStle D±vSs±on Ashland OR 97520 .......................................................................................... By ....................................................Deputy