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HomeMy WebLinkAbout1984-061 Trust Deed - Coleman 'oaM .... ..1-o....on Trilt Deed ........TIUST TN.l LII :J-1 (, t/? J) "'-"'VENS.NES. LAW PUBLISHING co., PORTLAND, OR. 87204 r,,:: 'Z '!!!9 :r-.... THIS TRUST DEED, made this .........~.~.~...._u.u...day of ......~~-~-~.~.~....u....._............__u...........u, 19 u.~uu, between Jack 0 & Lole Coleman .... ........... .~............ -.... ..';'. ..... ....... -.... ...... -..... ~ .,.. ...........-. ........ ... ........ -....-.....-.... -..................... -..................................-. .-.... -........... -.... --...... -.. --.... -..- Coleman . ~~-G;~~-t~;:-:::::~~~~~?~::~~:~:~y.::!~E~::~~~~:~:~~~:~::~~!~~!~~:~X:~~~~::!~~~!::~~~~y.::::::::::::::::::::::::::::::::::::--~~--T~~t;~U~ 85-..04369 TRUST DEED I'~ : 1/1 @) . ... Ih~.. Q~ ~.~..Q.f...~~ h.~~ n~. _ ............._ _..... _..... _ _ _..... ....._......... ...... _....... ............ ...... ..... ..._...._ ... ................... _ _ __.. ........... ....... ....... ....... :.... ........., as Beneficiary, WITNESSETH: Grantor irrevocably srants, barsains, sells and conveys to trustee in trust, w,ith power of sale, the property in u. uJ.o.cJS.$Qfl....... _.. u... u.... u.. __. ..u. u _.. County, OreMon, described as: Lots 30, 31 and 32 in Block 'K' of RAILROAD ADDITION to the City of Ashland. Jackson County, Oregon, according to.the official plat thereof now of record. v together with all and sin~ular the tenements, hereditaments and appurtenances and all other ri~hts thereunto belon~in~ or in anywise now or hereafter appertainin~, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connec- tion with said real estate. FOR THE PURPOSE OF SECURING PERFORMANCE 01 each a~reement of ~rantor herein contained and payment of the sum of _.. _ _ _ _ _. _ .ten _ _ thousand.. _ _ _three._ hundred.._ __ thi_r: t~~_tiYe udo.llar:s_ _ and.. _f.if toY _ _ dent s_ _ _ 00 _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _..00 _ _ _ _ _ _ __ __ _ _ _ _ _ _. ___ _00 _. _ __ _ __ _ _ 00 _ _. _ _. _ _ _ __ _ _ _ _ _ __ - - - - - - - - - - - - .'-- - - - - -. - - - _.- . - - - n - - - -- - - - - - __ _. - -00 - n --. - - - - - - -- ~ - --_ __ _ n_ _h _ _n ___ 000_000___ _ _ _u_uu_u__u______._____Dollars, with intere~t thereon accordin~ to the terms of a promissory note 01 even date herewith, payable to beneficiary or order and made by grantor, the final payment of principal and interest hereof, if not Sooner paid, to be due and payable ---~~~--~~~~__~!:.__~~!':~~_~_f~.I:_______________um_n' 19__________000_. The date of maturity of the debt secured by this instrument is the date, stated ahove, on which the final installment" of said note becomes due and payable. In the event the within described proI'fWty, or any part thet1eof, or any interest therein is sold, a~reed to be sold, conveyed, assi~ned or alienated by the ~rantor without first havin~ obtained the written consent or approval of the beneficiary, then, at the beneficiary's option, all obligations secured. by this it1$trf,lmentt 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....lcultural, timber or grazing purposes. To protect the security of this trust deed, ~rantor a~rees: (a) consent to the making of any map or plat of said property; (b) join in 1. To protect, preaerYe and maintain' said property in . good condition granting any eaeeme~t or creat.ing any "restriction tltereorr; (c) join in any and repair; not to remove or demolish any building or improvement thereon; subordination or othe,r agreement allecting this deed or the lien or charge not to commit or permit any waste 01 said properly. thereol,' (d) reconvey, without warranty, all or any part 01 the property. The 2. To complete or restore promptly and in good and workmanlike grantee in any reconveyance may be described as the "person or. persons manner. any buildin4 or improvement whida nNlY be ,constructed, damaged 0' lega1~y entitled tJa~et~," and the recitals therein 01 any matters or lacts shall destroyed thereon, and pay when due all cos's .incurred there/or. be conclusive proof o~ the truthfulness thereol. Trustee's fees for any 01 the 3. To comply with all la",., ordinlaacCts, relulations, covenants, condi- services mentioned in this paragraph shall be not less than $5. tio,. 'attd ,,,'rictions allecting sai. property; il the beneliciary so requests, to 10. Upon any default by grantor hereunder, beneliciary may at any join in executin, such .Ii~, statements pursuant to the Uniform Commer- time without notice, either in person, by agent or by a receiver to be ap- cial Code as the beneficiary may require and to pay for liling same in the pOinted by a court, -.nd without regard to the adequacy 01 any security lor proper public ollice or ollices, as well as the cost 01 all lien searches made the indebtedness herel;Jy secured, enter upon and take possession 01 said prop- by lili~ ollieers or 8elU'Chm, a,enci.. as may be deemed deeirable by the erty or any part th:!eol, in its own name sue or otherwise collect the rents, beneliciary. issues and profits, i uding those. past due and unpaid, and apply the same, 4. To provide and continuously maintain insurance on the buildin,s less cost. andexpens 01 operation' and collection, including reasonable attor- now . or herealter erected on the said premises a~ainst loss or dama,e. by lir. ney's . lees upon any ~nd.btedness secured hereby, and in such order .. bene- :~ a=n~t::~ ~:a~::n a;_~.~_~_fd~~!~~~tf~~__~~~_~___~~~~__~~__~~~_~, r::u~c;; ~ liciary ';;Y T~:er:;:~ng upon and takin' possession of said property, the companies acceptable to the beneficiary, with loss payable to the latter; all collection 01 such re~ts, issues and prolits, or the proceeds 01 lire and other policies 01 insurance .hall be delivered to the beneliciary as soon as insured; insurance policies or qompensation or awards for any taking or damage R.I the il the 'rantor shall lail lor any reason to procure any such insurance and to. property, and the apRlication or release thereol as aloresaid, shall not,Eure or deliver ..id policies to the beneliciary at least lilteen days prior to the expira- waive any delault orl notice 01 delault hereunder or invalidate any srit done tion 01 ..y polley of insurance noW or herealter placed on said buildin's, pursuant to such noti~e. the berreliciary may procure the same at ,rantor's expense. The amount collected under any lire or other insurance policy may be applied by beneli- 12 . Upon' del~ult by 'rantor in payment 01 any indebtedness secured ciary upon any indebtedness secured hereby ..,md in such order as beneliciary hereby or in his perl rmance of any a'reement hereunder, the beneliciary may may determine, or at option 01 beneliciary tlteentire amount so collected, or declare all sums sec red hereby immediately due III'Id payable. In such an any part thereol, may be released to ~rantor. Such application or release shall event the beneficiary' at his election may proceed to loreclose this trust deed not cure or waive any default or notice of delault hereunder or invalidate any in equity as. a mort.,e or direct the trustee to loreclose this trust deed. by act done pursuant to aach I)Otice. advertisement and sa~e. In the latter event the beneficiary or the trustee shall 5. To keep said premis.. Iree lrom construction I~ens and to pay all execute and cause to !be recorded his written notice 01 default and his election taxes, aaseuments and~otlter charges that may be levied or assessed upon or to sell the said de ribed real property to satisly the obli,ations secured a~aia!Jt ..;dproperty beIore any part 01 such taxes, assessments and other hereby, whereupon th trustee shall fix the time and place 01 sale, ,ive notice claar~. become past due or delinquent and promptly deliver receipts therelor thereol as then requ',"". J......fIIWl,-J)I'QCeed to 10(ecI9lO, tlUs tru8t deed in to beneliciary; Mould the ,rantor fail to make payment 01 any taxes, aasess- the manner provided, O~S 86.740 to 86.795. ment., i....".ance IN'emiuJa1a, . ,iens or other char'es payable by grantor, either 13. Should t' beneliCiarY elect to Ioreel08e by advertisement and ..Ie by diteel. payment . or by providin~ beneliciary with lunds with which to then after default at any time prior to five days before the date set by' ,b.e make such payment, beneficiary may, at its option, make payment thereof, trustee for the trust e's. ...le,. ~>~an'or or. other peraon aoprivilepdt by IIftdthe amountao. paitl,with int...., at the rate set lorth in the note secured ORS 86.760, may p y fa: tlaeJberieflaa,y'or his successor. in iiaU,..~' res,.ec- hweby. to4ether with the oblii,.ti(>nst deact'ibed in,~ra'rapha 6 ,.nd 7 01 th~s tively, the entire a unt then due under u... terma 01 the trust deed and the trUst deed, shall be added to and become a part, of the debt s~ed by th.s obligation secured t reby (includin, costs 1Jnd' expenses actually incurred in tn.a. deMl, witftout w.wer 01 any ri_t. armn,' Ir~m "reach 01 any 01 the enlorcing the terms I the obli,ation and trustee's and attorney's lees not. ex- covenant. hereof and lor,.8UCIa paymftnU, ""'Ia inter.t as alaresaid, the prop- ceeding the amounts;- provided by law) other than such portion 01 the #,in- erty h.,..inbelore. dacribed, as w~1 a. the. wantor, ,~I be'!ou~ to t~e cipal as would not hen be due had no default occurred, and thereby Cure ..me exte"t that they are bound.. . lor the. payment of t.he obl.,atlOn here.n thhe default. in whic...,.., ~1'~~~,,;",9!!~_ .~!.,..b.e, !!i~iss~ by described, an4 alt weh'paymern shall be :immediately due and' payab'e with- t e trustee. I . ' . . ,. .... , ...,~. '., . out lIO.t.e, ..." the nota,pIt . yment Uter. 80. I.. Mall, at tM OPtion. '01. the beneliciary, 14. Otherwise:' the sale shall be held on the date and at the time and render all ... secured, by thia truatd.-d immediately due and ~yable and place desi,nated in he notice 01 sale or the time to which said sale may conetitut, ~""eaeh 01 this triast deed. be postponed as pro, ided by 'awe The t",.e 'may :-"11. eai4 property either " . .6; 'Tct< pay all costs, Iec!s Mid expenses of this trust inelUdin, the cost in one Parcel or iz;aseparatep.rcels alld 8IIall sell the parcel or parcels at 01 title search as well as the other _costs and expenses 01 the trustee incurred auction to the hi~he,.t bidder lor cash, payable at the t.me of sale. Trustee in connection with or in enlorcin, this obli,ation and trustee's and attorney's shall deliver to tile purchaser its deed in lorm as required by law conveyin, lees actua1~ incurred. the property eo fIOld~ but withou" any COy....,.,. or warranty, express or im- 7. To appear in and delend any action or proceedin, purportin, to plied. The recitals in! the deed of any matters 01 lact shall be conclusive prool 1tl10llt tho _,~t., ri4ht. or power. 01 beneficiary or trustee; ,,,''' in any suit, 01 the tru.. tlaf.ulness .tereol. Any.. perao.n, excludin,.' the trustee, but ineludin~ action or proceeiling .n which the beneliciary or trustee may appear.,. iftCludin, the 'rantor and bene. iary, may purchase at the sale. any .auit lor 'lie IoreelofJUre eI thQ deed, to pay ." coets aftd-.penae., in- 15. When tru tee sells pursuant to the powers provided herein, trustee cIudin, evWeace 01 title ancl. the b...ticiary's or ~stee'. a"orney'. .,....; tlte altall 'apply the ~roe 01 sale to 'payment of (I) the upenseaol sale, in- amount 01 attorney's lees mentioned in this parqraph 7 in all ~ossh,.ll be cludin, the com ion ai, the trultee and II r8ll8OrUlbJe cia,.,.,. by truetee's fixed by the trial court arid in the event 01 atl appeal Irom any judAntent' or attorney, (2) to the. obli,ation secured by the trust deed, (3) to all persons decree of the trial court, 'rantor lurther agrees to pay such sum as the ap- having recorded li=:1n subsequent to the interest 01 t. he trustee in the trust pell.te court shall adjud,e reasonable as the beneliciary's or trustee's attor- deed as their inter s may appear in th. order 01 their priority Itnd (4)' the ney's lee. on aach appeal. surplus, il any, to t e ,rantor or to his successor in interest entitled to such It i. mutu.l1y a".eed tltat: surplus. 8. In tlle event that ..y ~tion or all 01 Mid P"flperty shall b.,aken 16. For any Ireason permitted by la. beneliciary may Irom time to under the ri,ht 01 eminent domain or condemnation, benef.ciary shall have the time appoint a succe~r or successors to any trustee named herein or to any ri,ht, il it so elects, to require that all or any portion of the monies payable successor trustee apr*>inted hereunder. Upon such appointment, and without as compensation lor such takin', which are in excess 01 the amount required conveyance to the s$ccessor trustee, the latter shall be vested with all title, to pay all reasonable costs, expenses and attorney's fees necessarily paid or powers and duties conlerred upon any trustee herein named or appointed incurred by ,rantor in such proceedings, shall be paid to beneficiary and hereunder. Each suc^ appointment and substitution shall be made by written applied by it lirst upon any reasonable costs and expenses and attorney's lees, instrument executed. by beneliciary, containing reference to this trust deed both in the trial and .ppellate courts, necessarily paid or incurred by bene- and its place 01 r~rd, which. when recorded in the office 01 the County liCiary in suc'" procetdi...., and the. balance applied upon tb.e". ind..tedne. Clerk or Rec6rder 01, the county or e6unties in which the property is situated, secured hereby; and 'rantor a'rees, at its own expense, to take such actions shall be conclusive prool 01 proper appointment 01 the lUCCea80r trustee. and execute such instruments as shall be necessary in obtainin, such com- pensation, promptly upon beneficiary's request. 17. Trustee .ccept. this trust when this deed, duly executed and 9. At any time and from time to time upon written request 01 bene- acknowled,ed is mate a public record as provided by law. Trustee is not liciary, payment 01 its fees and presentation 01 this deed and the note for obligated to notily a y party hereto 01 pending sale under any other deed 01 endorsement (in ease 01 full reconveyances, lor cancellation), without aflecting trust or 01 any acti n or proceedin, in which grantor, beneliciary or trustee I h 1 h .nd b ed shall be a party unl,ss such action orproceedin, is brou,ht by trustee. the. ~iabi~ity 01 any person or t e payment 0 t e. e t ness, trustee may I NOTE: The Trust Deed Act provid.. that the truatee hereunder must be either ani at~mey, who is an aetiv, member of .the Oregon State Bar, a bank, trust company or IOvings 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, affiliate., agents or branches, the United States or any agency thereo~, or an escrow agent licensed under ORS 696.505 to 696.585. ,. I r~~;~ '( . ~. . ~ 85...04369 The grantor covenants and agrees to and with the beneficiary and those claiminRunder him, that he is law- fully seized in fee simple of said described real property .and has a valid, 'unencumbered title thereto and that he will warrant and forever defend the $~me asainst all personsl whomsoever. i The grantor warrants that the proceeds of the loan represented by the above d"scribed note and this trust deed are: (a)* primarily 10,. ,rantor's personal, family, household or a~ricultura1 purpo~s (see Important Notice below), (b) for an or,anization, or (even. if ~rantor is a natural person) are for buai1Je. or commercial purposes other than agricultural purposes. I This deed applies to, inures to the benefit 01 and bit.Klsall patties hereto, their heirs, le,atees, devisee., administrators, e~ecu- t0l'8,personal repreaentatives, ,successors and assi,,.. The term beneficiary shall mean I the holder and owner, inc1udin, pledgee, of the contract secured hereby, whefher. or not named as a beneficiary herein. In!5onstruin, th~s deed and whenever the context so requires, the maaculine. ~end.er includes the ft!Jminine and the neuter, and the sin,ular number inclu~es the ~lura1. . IN WITNESS WHEREOF, said grantor has hereunto set his hand I the day and year first above written. I h_ ---1)-~--~_~_--h________________ (ORS 93.490) My Commission Expires I STATE OF OREGON, ~nty of---h---uh_______hm_______________h_____um__u_____) SSe 0. 00- -- - -- ---- - -_ n_ - - - ___ _ _ __ _ 00___ __u__ 00 _ _ _ _ _ ___ ____ 0. h __, 19 _h _ __ n_ __ _ ____. Personally appeared. - - _ __moo_ -- -- __ ____ _ _____ _ _ _____ _ _ _~ _ _ _ m _ n_ 00000 _ _ _____ __ _ __ __ _ _ _ __ _ _ _ ---and 00 - - - ,- -- no. Uh__h__ no._ -__hn____m____J_ _ __h___h_ _ -_____uh_____uh___ ___0._ _ _______ who, each bein, first i duly sworn, did say that the former is them--------___h______h______oo__m__h__m_m__h______ president and that the l~tter is the------m--m----_____________m___m_______hu___hh_______m__ secretary of -- - ------ --- -- - --_____ _;____ __ .____u_ __ ____ h ____ _ _ _ _ __ _________00_____ _ _ _ __ ______00_____ _____ 00__ __ _ _ _ _ _ _ _ _ _ __" i ~-- ~~;p~;~-ti~~-: - ~d - -th~t --t~~ - -~~~i - ~Iii~~d- - t~--th~ - -i~~~~~i~~- - i~~t~;;;~_;;t- -i~ - th~ corporate seal of said corporation and that the instrument was ai~ned and seale. d in behalf of said cprporation by authority of its. board of directors; and each of them acknotyledged said instrument to be its voluntary act and deed. Before rn.: - - -- - -- - - - -----. - -- - - - - JANE - -DAVIS- --.- - -. - - --. --- - ------ NOT ARYPUBLIC- OREGON * IMPO~lAt4T NOTICE: D....., by lining out, whlche.,., warranty (a) or (b) is notappli...; if warrantylGl ... applicabl. and, the ben.ficiary is a creditor ... IUch'wo~ Is .Rn. in .... Truth-in-LentlingAct CII'lcI -..ulation Z, the ""enclary MUST comply with. the Act and l-sulatlon by mcddngrequired disclosures; for this, purpose, if this instrum.nt is to be a FIIST'iien. to financ. the purch... of a cIw.1Iinl, u.. Se.vens-N.ss Form No. 1305 or equival.nt; If.lhis Instrument is NOT to be afftst lien,. or is. not to finance the purchas. 01 a. dWelling use Stev.ns-N... Fo...... No. 1306,. or equival.nt. If complianc. with ..the Act is not .....uired, ......rei thil notic.. 'If the sign., of the above Is a corporation, u.. the form. of admowleclgment opposite.) STATE OF OREGON, ) , COU3~ 20~ '::-8~N_.---h_3 as. _~__h__oo_______ -_________ __ __au _ _____ _n ___ ___h _nO. _ _ _ ____n._' 19_.__ 00_ ___ _ _. Personally appeared the above namedh_h__________h___.. h .-------~k-~--- _~!_ _____~~~_______ ____ ______ .. --_...... --- --... --- --.... --.. . .... ---........ -- -... --_.... -.. --........ -- -_.... --.. --.. ----.. -_.... --.............. --- -_.....-..-.... -_.... --- --.. . ----- - __k_Q _~f\_ __ _~_ ~_ _e-: _~ _~!\J___ _ __ 00 ____ _ __ ___ _ _ _ _ _ _ _ _ __. ___ - - .. ... .. .. .. - .. .. .. - -. .. .. .. - - .. .. .. .. .. .. .. - .. - .. .. - .. - - .. - - .. .. .. .. - .. - .. .. .. - - ~ - - - . - - - - - - -, - - - - - - - - ~ - - - - - - - - - . - - . - - - - - - - - - - - - - - - - -- h-n----h_oou_nnnn_oo__and acknowled~ the foregoi~ instru- ment to be------~-_t~--n_volunta,.y act and deed. Be Notary Public for Oreflon! - - - - - - - - - - - - - - - - - - - - - - - - - - - . . - - - - ... -'- - .. - ... - - - - - - . ... - - - - - - - - - - - - - - - - - - - - ... - - - - - - - - - - - - - - - - - - - ... - - - ... - ... - ... - (OFFICIAL SEAL) My commission expIres: 12- - 2 -r-rs."( My commission expires: (OFFICIAL SEAL) REQUEST POI FULL IECONVEY ANCE T. be used only when o"",at.ons have ..... paidr TO: __h -- -- - M__h - - - -- - - - - _____ ______ _ _ __ _ _____ ___h__ __ ___00______ _ ____ _h 00_____ __ __h _ ____ -_.__00___' Trustee 1'he undersigned is the le,alowner and holder of all indebtedness secured by the fore~oin~ trust deed. All sums secured by said trust deed have been fully paid and satiidied. You hereby are directed, on payment to ~ou of any sums owin, to you under the terms of said trust deed or pursuant to statute, to cancel all evidences of indebtedness secured I by said trust deed (which are delivered to you herewith to,ether with said trust deed) 'and to reconvey, without warranty, to the parties de8i~nated by the terms of said trust deed the estate now held byfyou under the same. Mail reconveyance and documents to __._. m .. ___000000____________00_.___ _ '------00.---_00_________00___00__00__00________0000____________.. tJ A TED: _ _ - - . , _ __ _ ' u 00 .. _ 00 00 - _ - , __ n _ _ 00 - _ _ __ _ n h __ __ _ __ _ __ _ _ _ __ _ _ _ . , _ __, 19 _ __ _ _ _ _ 00 00 . i - - - -- - - - - - --... -- -- - -- - - -- - - - -- -- -- --- - - - -- -- - - -- --- -- -... - -- - -... - --- -... - - - - - - -- - - - - - - - - - --... _. - - - - -- - - -- -- -- --- - - ---- -- ----...- - - - - ------... ----...--...... ..----- - ----------- - --..-..... -- - - - - ---- - - - - - -- -- - - - --... - - - - - - - - - - - - - - -- - - - ~ -- - - - - - - -- Beneficiary D. not 10.. .r de.tr.y this Tru.t D.ed OR THE NOTE which it .ecure.. loth mu.t be delivered to the truttee for cancellation before reconveyance will be made. TRUST DEED (FORM No. 111) SSe STEVENS-NESS LAW PUB. CO., PORTLAND. ORE. Grantor ! SPACE RE....VEC FO" RECORDE.... US~ I Jackson County, Oregon Beoorded omcw. RECORDS jIJ.'iJ/ MAR 2 8 W5cJ9-.1L KATHLEEN S. BECKETT C BIt and BEe BOER Deputy ru- the --- - - ----- - - ---- - - ---- - ---- -- - --- -.. - -- - - -- -- - - - - -- - -.. - -- - - - - -- --- - -- -- -.- -.-.-, ded uon ile/ Beneficiary AFiER RECORDING RETURN TO ntr. , 01 -- -... - - ---- - - -- -- - - -- -- - - --- - - - -- - - - -.-- - -- -- --.. ...--... .........._....~. , ~ : ./"".........., B/~_ - - __u - - __ -_ - _ __ -~-_;~u._\.~.~~'_u_ ___ ~~u_=~_--:ueputy . 'I' . ------r1 --------/ lr r~ PROMISSORY NOTE * . -- Loan Amount: I C> I '3:5 5>. S- c) Date: q -/4 "';"~Ashland, Oregon. Loan Number () 4:2 H()-L FOR VALUE RECEIVED pursuant toa Deferred Payment Loan from the City of Ashland, the undersigned jointly and severally promise (8) to pay to the order of the City of Ashland, a polit.ical sub- division of the State of Oregon, or its sQccessors, the sum of ~NT~}~ Tlt~ t-t-I'\b~ T-fttf2.'1- dollars ($ I ~J 3'::,~, $"'0 ) . FC'ie,...,.-.J> F/~ ceN,1 This Note shall become due and payable upon any actual or attempt- ed transfer, voluntary or involuntary, including by operation of law or death of the undersigned, of any interest -in that cer- tain real property identified and described in the Trust Deed securing this indebtedness. When death of the undersigned causes transfer of the property to a survivihg spouse, the above pre- viousshall' rlot apply and the rights and responsibilities of this Note shall transfer with the property to the surviving spouse. Said payment shall be made in lawful money of the United States of America at the office of the Ashland Home Rehabilita- tion Program', Ashland, Oregon, or at such other places as shall be designated by the City of Ashland. The undersigned reserves the right to rep$Y at any time all of the principal amount ~f this Note in a'si~gle payment without the payment of pe~alties,discount or pre$iums. 'Payment of less than the full sum owing shall not be accepted. If suitor action is instituted by the City of Ashland tore- cover on this Note, the p'revailing 'party $grees to pay to the losing party all costs of such collection, including reasonable attorney's fees and court.cost~ at trial 'nd on appeal. Demand,' protest and notice of demand and protest are hereby. waived, and the undersigned hereby waives, to the extent author- ized by l'aw, any and all homes.tead and otl1ler exempt ion rights which otherwise.would apply to the debt evidenced by this Note. IN WITNESS WHEREOF, THIS NOTE AND TRUST D~ED SECURING THE NOTE, HAVE BEEN DULY EXECUTED BY THE UNDERSIGNE~, AS OF THE DATE ABOVE WRITTEN. ~ (). ~ + II