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HomeMy WebLinkAbout1984-056 Trust Deed - Bell f'JRkl No. 881-0regon Trust Deed Series-TRUST - - ------- -- - - -Tf\H f\\) I ~ ~T.. ~8ltJ ~S -"'VENS.NESS LAW PUBLISHING CO., PORTLAND, OR. 97204 84--12548 ~.1...; TRUST DEED /)~bO ;;j, ()c .39.16.. r -G; 3ac-) flJC. -~ ~. - -- - - --.-. - -. - - - -.~ -- - - _. - - - - -~.- ~ - -.. - - - -~ - - -. -- - - - - .--. - -.- -- --.. -- - ~ -- - ~ ~-- THIS TRUST DEED, made this hm.~.~_~__~...____._.__._day of Robert P. Bell 84 19.000.000_., between June . --.. h.... h.... .h... __ _... h.... __.... __.... _ _... __...., - - - - - - - - - - - - - - - - - - - . - - - . - . - - - - - - - -. - . - - - - - . - - - - - - - - - - - ~ - . - - - - - - . - - - - - . - - - - - - - - - - - - - . - - - - - - - - - - - . - ~~. a; ~~.;~;:. ~ ~ ~ ~ ~ ~~:::~ ~:~:~~:~: :!:~ ~ ~~ ~:: 0; ~::::::: ~: ~:: ~::::: ~:~:::::::::::::::::::::: ~: ~::: ~: ::::::::::: ::::::::::::::::::::::::::::::::::::: ::: ::: :::::::::::: ~ h ~~-- -T;~'~~~~ ~ - .~'~d h. "Th-~' "c'i 't'y' - ~'i" A~ h i-~-~'d"'. - -.-.. - - h.... -- - - -. -- -... --...... --. - --... -.. -. - - --. -- h.... -...... --.. h -. -. -- -... -- - - _. - _. -..... - -........ --. -. -- -... -... - -... - -. --.. - _h.. - -..... _.. __ _.__ _ _ _. __ ___ ----.. -.. -. __h. --. __h.. -- --. -. --.. - -- - - -. ----.. --. - - -.. --.. _ -.. -. --.. __ -. __. _.. __.__. __.. _ h..... __ _.... __ __.. ____ _u.u.. UUu.. __. _ __huU__. _ h __. _ U__.... __.. hu.... __.. __ U".h uu.u _..... __. ..u...., as Beneficiary, WITNESSETH: Grantor irrevocably grants, bargains, sells and conveys to trustee In trust, with power of sale, the property In umu--~.?~~.~.?.':l--._umummu__mm__u...County, Oregon, described as: SEE ATTACHED together with all and singular now or hereafter appertaining, tion with said real estate. FOR THE PURPOSE sum of thr.ee.th()LJs~ll(t,. the tenements, hereditaments and appurtenances and all other rights thereunto belonging or in anywise and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connec- OF SECURING PERFORMANCE of each agreement of grantor herein contained and payment of the si.~~(3.e.1l _..m.uu.Dollars, with interest thereon according tv the terms of a promissory note of even date herewith, payable to beneficiary or order and made by grantor, the final payment of principal and interest hereof, if not sooner paid, to be due and payable .()nu?(JJ~_().r-.1:.r.~Il~JE3.r_ ._u _u_ __, 19u The date of maturity of the debt secured by this instrument is the date, stated above, on which the final installment of said 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 beneficiary's option, all obligations secured by this instrument, irrespective of the maturity dates expressed therein, or herein, shall become immediately due and payable. The above described real property is not currently used for agricultural, timber or grazing purposes. To protect the security of this trust deed, grantor agrees: 1. To protect, preserve and maintain said property in good condition and rt!pair; not to remove or demolish any building or improvement thereon; not to commit or permit any waste of said property. 2. To complete or restore promptly and in good and workmanlike manner 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, condi- tions and restrictions affecting said property; if the beneficiary so requests, to join in executing such financing statements pursuant to the Uniform Commer- cial 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 said premises against loss or damage by fire and such other hazards as the be~iis;ia~ may from time to time require, in an amount not less than $Hu__.3.v__O'.vO._______.______..____.__.._.______, written in companies acceptable to the beneficiary, with loss payable to the latter; all policies of insurance shall be delivered to the beneficiary as soon as insured; if the grantor shall fail for any reason to procure any such insurance and to deliver said policies to the beneficiary at least fifteen days prior to the expira- tion of any policy of insurance now or hereafter placed on said buildings, the beneficiary may procure the same at grantor's expense. The amount collected under any fire or other insurance policy may be applied by benefi- ciary 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 hereunder or invalidate any act done pursuant to such notice. 5. To keep said premises free from construction l:ens and to pay all taxes, assessments and other charges that may be levied or assessed upon or against said 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, assess- ments, insurance premiums, liens. C?r other c.h<;lrges p'ayable by g:antor,. either by direct payment or by provIdmg beneftcIary WIth funds WIth wh,ch to make such payment, 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 th!s 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, wth interest as aforesaid, the prop- erty 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 d.ue and payable. ";ith- out notice, and the nonpayment thereof shall, at the optIOn of the beneftcIary, render all sums secured by this trust deed immediately due and payable 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 in 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, in- cluding evidence of title and the beneficiary'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 ap- pellate court shall adjudge reasonable as the beneficiary's or trustee's attor- ney's fees on such appeal. It is mutually agreed that: 8. In the event that any portion or all of said property shall be taken under the right of eminent domain or condemnation, beneficiary shall have the right, if it so elects, to require that all or any portion of the monies payable as compensation for such taking, which are in excess of the amount required to pay all reasonable costs, expenses and attorney's fees necessarily paid or incurred by grantor in such proceedings, shall be paid to beneficiary and applied by it first upon any reasonable costs and expenses and attorney's fees, both in the trial and appellate courts, necessarily paid or incurred by bene- ficiary in such proceedings, and the balance applied upon the indebtedness secured hereby; and grantor agrees, at its own expense, to take such actions and execute such instruments as shall be necessary in obtaining such com- pensation, promptly upon beneficiary's request. 9. At any time and from time to time upon written request of bene- ficiary, payment of its fees and presentation of this deed and the note for endorsement (in case of full reconveyances, for cancellation), without affecting the liability of any person for the payment of the indebtedness, trustee may (a) consent to the making of any map or plat of said property; (by join in granting any easement or creating any restriction thereon; (c) join in any subordination or other agreement affecting this deed or the lien or' charge thereof; (d) reconvey, without warranty, all or any part of the property. The grantee in any reconveyance may be described as the "person or persons legally entitled thereto," and the recitals there;n of any matters or facts shall be conclusive proof of the truthfulness thereof. Trustee's fees for any of the services mentioned in this paragraph shall be not less than $5. 10. Upon any default by grantor hereunder, beneficiary may at any time without notice, either in person, by agent or by a receiver to be ap- pointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of said prop- erty or any part thereof, in its own name sue or otherwise collect the rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attor- ney's fees upon any indebtedness secured hereby, and in such order as bene- ficiary may determine. 11. The entering upon and taking possession of said property, the collection of such rents, issues and profits, or the proceeds of fire and other insurance policies or compensation or awards for any taking or damage of the property, and the application or release thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. 12 . Upon default by grantor in payment of any indebtedness secured hereby or in his performance of any agreement hereunder, the beneficiary may declare all sums secured hereby immediately due and payable. In such an event the beneficiary at his election may proceed to foreclose this trust deed in equity as a mortgage or direct the trustee to foreclose this trust deed by advertisement and sale. In the latter event the beneficiary or the trustee shall execute and cause to be recorded his written notice of default and his election to sell the said described real property to satisfy the obligations secured hereby, whereupon the trustee shall fix the time and place of sale, give notice thereof as then required by law and proceed to foreclose this trust deed in the manner provided in ORS 86.740 to 86.795. 13. Should the beneficiary elect to foreclose by advertisement and sale then after default at any time prior to five days before the date set by the trustee for the trustee's sale, the grantor or other person so privileged by ORS 86.760, may pay to the beneficiary or his successors in interest, respec- tively, the entire amount then due under the terms of the trust deed and the obligation secured tbereby (including costs and expenses actually incurred in enforcing the terms of the obligation and trustee's and attorney's fees not ex- ceeding the amounts provided by law) other than such portion of the prin- cipal as would not then be due had no default occurred, and thereby cure the default, in which event all foreclosure proceedings shall be dismissed by the trustee. 14. Otherwise, the sale shall be held on the date and at the time and place designated in the notice of sale or the time to which said sale may be postponed as provided by law. The trustee may sell said property either in one parcel or in separate parcels and shall sell the parcel or parcels at auction to the highest bidder for cash, payable at the time of sale. Trustee shall deliver to the purchaser its deed in form as required by law conveying the property so sold, but without any covenant or warranty, express or im- plied. The recitals in the deed of any matters of fact shall be conclusive proof of the truthfulness thereof. Any person, excluding the trustee, but including the grantor and beneficiary, may purchase at the sale. 15. When trustee sells pursuant to the powers provided herein, trustee shall apply the proceeds of sale to payment of (1) the expenses of sale, in- cluding the compensation of the trustee and a reasonable charge by trustee's attorney, (2) to the obligation secured by the trust deed, (3) to all persons having recorded liens subsequent to the interest of the trustee in the trust deed as their interests may appear in the order of their priority and (4) the surplus, if any, to the grantor or to his successor in interest entitled to such surplus. 16. For any reason permitted by law beneficiary may from time to time appoint a successor or successors to any trustee named herein or to any successor trustee appointed hereunder. Upon such appointment, and without conveyance to the successor trustee, the latter shall be vested with all title, powers and duties conferred upon any trustee herein named or appointed hereunder. Each such appointment and substitution shall be made by written instrument executed by beneficiary, containing reference to this trust deed and its place of record, which, when recorded in the office of the County Clerk or Recorder of the county or counties in which the property is situated, shall be conclusive proof of proper appointment of the SucceSSor trustee. 17. Trustee accepts this trust when this deed, duly executed and acknowledged is made a public record as provided by law. Trustee is not obligated to notify any party hereto of pending sale under any other deed of trust or of any action or proceeding in which grantor, beneficiary or trustee shall be a party unless such action or proceeding is brought by trustee. NOTE: The Trust Deed Act provides that the trustee hereunder must be either an attorney, who is an active member of the Oregon State Bar, a bank, trust company or savings and loan association authorized to do business under the laws of Oregon or the United States, a title insurance company authorized to insure title to real property of this 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. -~==-:~=S4~.125118 The grantor covenants and agrees to and with the beneficiary and those claiming under him, that he is law- fully seized in fee simple of said described real property and has a valid, unencumbered title theretq This Trust Deed is inferior to a Trust Deed, including the terms and provisions thereof, dated February 1, 1977, recorded February 2, 1977, as Document No. 77-02149, Official Records of Jackson County, Oregon, given to secure payment of a note, with interest thereon. Grantor(s): Lewis P. Bell and Marbeth M. Bell and Robert P. Bell. ~x~t<~xwiUx~(!mkiFJxeJ{el{>ddendxbhe<~X(itg14'ia.~XJJ-J.xp.~~>W~~~~J(~Jl.. Trustee: Crater Title Insurance Company, Beneficiary: Jackson County Federal Savings and Loan Association, a Corporation. Amount: $26,800.00. The grantor warrants that the proceeds of the loan represented by the above described note and this trust deed are: (a)* primarily for grantor's personal, family, household or agricultural purposes (see Important Notice below), (1::i>JxxJ6t~)()t~~iiII)}Q~)Ox~X1Xiix~fi.~i~~"R~:k~~Rm<~~OO~~m.~~Rk~~~r<..>tm..p.~~ ~~ This deed applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, administrators, execu- tors, personal representatives, successors and assigns. The term beneficiary shall mean the holder and owner, including pledgee, 01 the contract secured hereby, whether or not named as a beneliciary herein. In ~onstruing this deed and whenever the context so requires, the masculine gender includes the feminine and the neuter, and the singular number includes the plural. IN WITNESS WHEREOF, said grantor has hereunto set his hand the day and year first above written. x-_.i~u.e_.__tJdJ_u__ * IMPORTANT NOTICE: Delete, by lining out, whichever warranty (a) or (b) is not applicable; if warranty (a) is applicable and the beneficiary is a creditor as such word is defined in the Truth-in-Lending Act and Regulation Z, the beneficiary MUST comply with the Act and Regulation by making required disclosures; for this purpose, if this instrument is to be a FIRST lien to finance the purchase of a dwelling, use Stevens-Ness Form No. 1305 or equivalent; if this instrument is NOT to be a first lien, or is not to finance the purchase of a dwelling use Stevens-Ness Form No. 1306, Or equivalent. If compliance with the Act is not required, disregard this notice. (If the signer of the above is a corporation, use the form of acknowledgment opposite.) (ORS 93.490) ST~::t:FOfO~~~~__ _ _MA.~__2--Sj._ __.., 19. Personally appeared the above named. ) ) ss. .t.'f STATE OF OREGON, County of .) ss. 19_ Personally appeared and ______who, each being first .R<S 5~-r: p. -- Gf?4...l......... duly sworn, did say that the former is the. president and that the latter is the. secretary of __ .____ __.. _ _. and acknowledged the foregoing instru- ment to be__ -H.J-S voluntary act and deed. Before me: a corporation, and that the seal affixed to the foregoing instrument is the corporate seal of said corporation and that the instrument was signed and sealed in behalf of said corporation by authority of its board of directors; and each of them acknowledged said instrument to be its voluntary act Notary Public for on !....,;-:t :',~.V:5 (OFF CIAL P,.;"~:, '.~:?~~'~.:)fIi L) (OFFICIAL SEAL) My commission ex ~"'.c:or\- REQUEST FOR FULL RECONVEYANCE To be used only when obligations have been paid. TO: __ u __, Trustee The undersigned is the legal owner and holder 01 all indebtedness secured by the foregoing trust deed. All sums secured by said trust deed have been fully paid and satisfied. You hereby are directed, on payment to you 01 any sums owing to you under the terms 01 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 deed) and to reconvey, without warranty, to the parties designated by the terms of said trust deed the estate now held byfyou under the same. Mail reconveyance and documents to DATED: , 19 Beneficiary Do not lose or destroy this Trust Deed OR THE NOTE which it secures. Both must be delivered to the trustee for cancelbtion before reconveyance will be made. TRUST DEED FOR STC~~:t::f ~_~EGO~:_u__________UhU__} SS. I certify that the within instru- ment was received for record on the ________day of ___u____n____________.___h.' 19_h__n_' at. -._hh_____hO'~ckh----M., and recorded in bookl reel I vol~e f)lO..h__h____U_______on page___.._____________or _~'documentl feel file I instrument / ITJ,icrofilrrl\ No. Recor~".pf/.ivI ortgages\ql said County. ,.."'" Witness my hand and seal of County affixed. (FORM No. 881) STEVENS-NESS LAW PUB, CO" PORTLAND, ORE, Grantor SPACE RESERVED RECORDER'S USE Beneficiary AFTER RECORDING RETURN TO NAME TITLE )./ p ___ _.. _ __ __ _ _u __ _ _ u__ _ u_ __ __ U __ _ _ __ _ ..Depu"y 84. -12548 DESCRIPTION SHEET See page 1 for vesting and encumbrances, if any. Description of the tract of land which is the subject of this report. Beginning at the Southwest corner of Lot 21, Block "Q", RAILROAD ADDITION, to the City of Ashland, Jackson County, Oregon; thence South 890 54' East, along the North line of Main Street, 11 feet, 3 inches; thence North 00 46' East, 39 feet, to line between Lots 20 and 21, said block; thence South 150 38' West, 41 feet, to the point of beginning. ALSO: Lots 19 and 20, Block "Q", RAILROAD ADDITION, in the City of Ashland, Jackson County, Oregon. EXCEPTING THEREFROM the following: Beginning at the Northeast corner of Lot 20, Block "Q", RAILROAD ADDITION, to the City of Ashland, Jackson County, Oregon; thence North 740 22' West, 13 feet, 10 inches; thence South 00 46' West, 56 feet, to line between Lots 20 and 21, said block; thence North 150 38' East, 54 feet, to the point of beginning. Jackson County. Oregcm . Recorded , OmCIAL RECORDS /P. "35 AUG 11984 AI.M. KATHLEEN S.BECKETT CLERK and RECOl\DER By~"~~~ >>eputy Order No. 58625/14-21 '3/ PROMISSORY NOTE Loan Amount; $3,016.00 Loan Number 016 HD-M-I Date:~'J 5 't'f Ashland, Oregon. FOR VALUE RECEIVED pursuant to a Deferred Payment Loan from the City of Ashland, the undersigned jointly and severally promise (s) to pay to the order of the City of Ashland, a political sub- division of the State of Oregon, or its successors, the sum of three thousand, sixteen dollars ($ 3,01~.OO ). This Note shall become due and payable upon any actual or attempt- ed transfer, voluntary or involuntary, including by operation of law or death of the undersigned, of any interest in that cer- tain real property identified and described in the Trust Deed securing this indebtedness. When death of the undersigned causes transfer of the property to a surviving spouse, the above pre- vious shall nol apply and the rights and responsibilities of this Note shall transfer with the property to the surviving spouse. Said payment shall be made in lawful money of the United States of America at the office of the Ashland Home Rehabilita- tion Program, Ashland, Oregon, or at such other places as shall be designated by the City of Ashland. The undersigned reserves the right to repay at any time all of the principal amount of this Note in a single payment without the payment of penalties, discount or premiums. Payment of less than the full sum owing shall not be accepted. If suit or action is instituted by the City of Ashland to re- cover on this Note, the prevailing party agrees to pay to the losing party all costs of such collection, including reasonable attorney's fees and court.costs at trial and on appeal. Demand, protest and notice of demand and protest are hereby waived, and the undersigned hereby waives, to the extent author- ized by law, any and all homestead and other exemption rights which otherwise would apply to the debt evidenced by this Note. IN WITNESS WHEREOF, THIS NOTE AND TRUST DEED SECURING THE NOTE, HAVE BEEN DULY EXECUTED BY THE UNDERSIGNED, AS OF THE DATE ABOVE WRrrTEN. ,,< ~~ P /1JJ f)VN 102 S 8'',c