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HomeMy WebLinkAbout1991-106 Trust Deed - Christian FORM No. 881-o"9OR Trul' Deed Sori_TRUST DEE( ~ NE . "", 93,-27694 COPYRIGHT 1990 ~ \ ~: TRUST DEED THIS TRUST DEED, made this h.~........day of ............ ......................, 19....9.1., between - -- - - -- - - --- -- --- -- - - __Liz a___K __ _ _ -_C.hris t.ian _ _ __ _ _ ____ _ _ __ _ __ _ __ __ _. _. __ ____ _ __ _ _ ___ _ _ ____ _ _____ _ _ ____ _ _ ____ _ _ ____ _ _ ___ _ _ _ __ _ _ _ _ __ _ _ _ _ ____ _ _ __ __ _ _ __ _ _ _. _ _ _ _ __._ _ _ __ __ _ _ _. __ _ _ __ _ _ _ _ ___ ----- - ------- ---- -- -- -- -- - - -- - - - -.- - - - - - - - - - - -- - - ---- -- - - --- - -- - - -- - - -- ---- -. -. - -.- - --- - - -- - - -. - - -- -. -- - - -.- -- -- -- --- - ----- - -------- --- - -- -- - - -- --.. ---- - - ---- -- - ---- - -- -- _e. - __. - __ __ __ ___ - __ - - __ - - ______ - ____ - - __, as Grantor, ----CQntinen-ta~-uLawy-er.s----Ti:tle---C-ompan~--.u------u----------------------u________________u___, as Trustee, and - --- _u - - - - _C it_yu__of_ - -As_h~an_d_,__ u a _ umuni_cip al_ _ -c.oxporat. io_n_ u _ _ _. __ _ _ _ _ ____ _ _ u_ _ _ _ u __ _ _ __ u _ _ ____ _ _ __ _ _ _ _ ____ _ _ ____ _ _ __ __ _ _... _ _ ___ __ _ ___ ___ - --- - - - u - - - 2 0_ __E_a.s _t - - _Ma in _ _ _S.t r e e t. + _ _ .Ashlan d -r _ _ _ _O_R _ __ --9__1 5-20__ __ _ _ __ __ _ _ __ u _ _ __ __ _ _ u u _ _ __ u __ _ _ u _ _ __ u _ _ _ _ u _ _ u u _ _ u _ _ __ _ _ u _ _ __ _ _ __ _ _ __ _ _ _ _., as Beneficiary, WITNESSETH: Grantor irrevocably grants, bargains, sells and conveys to trustee in trust, with power of sale, the property in -------------Jacks-on--______uu________u_County, Oregon, described as: Lot 391in GREENSPRINGS SUBDIVISION in Jackson County, Oregon, according to the Official plat thereof, now of record. together with all and singular the tenements, hereditaments and appurtellances and all other rights thereunto belonging or in anywise now or hereafter appertaining, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connec- tion with said real estate. FOR THE PURPOSE OF SECURING PERFORMANCE of each a~reement of grantor herein contained and payment of the sum of - - - (-$- 4-, - 0 -0- Q -e- -0-0-)- 00 - F-ouroo - --t-ho-usand----d.ol-l-ar-s- --and--- -----no-I-l 0-0- _ _ ____00 ___ __ ____ ~ 00____00 00 __ ____ _ _ *___ ________ _*n_____ __ __ __ u 00 U_ _ _00_ ---------------------------------_______._______h_____ -------------------------oo-----u--u----------___oo_oo__un_____Dollars, with interest thereon according to the terms of a promissory note of even date herewith, payable to beneficiary or order and made by ~rantor, the final payment of principal and interest hereof, if not sooner paid, to be due and payable upon-us-al_e____OI_oo_tr_ans_fer__, 19_00___________. 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. To protect the - security of this trust deed,. grantor agrees: 1. To protect, preserve and maintain said property in ~d condition and repair; 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 ~od and workmanlike manner any building or improvement which may be constructed, damaged or destroyed thereon, and pay when due alJ costs incurred therelor. 3. To comply with alJ laws, ordinances, regulations, covenants, condi- tions and restrictions aflecting said property,' if the beneficiary so requests, to join in executing such financing statements pursuant to the Uniform Commer- cial Code as the beneliciary may require and to pay for filing same in the proper public oflice or ollices, as welJ as the cost of alJ 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 :~d a:;:~~n~t~~~ ~~:a;t:n a$__~_~,-n11tr~~D-rJ~~--~~~-~___~~~~__~~__~~_~_~, r:~U%~ ~~ companies acceptable to the beneficiary, with loss payable to the latter,' alJ policies 01 insurance shalJ be delivered to the beneficiary as soon as insured; if the grantor shalJ fail for any reason to procure any such insurance and to deliver said policies to the beneliciary at least fifteen days prior to the expira- tion 01 any policy of insurance now or hereafter placed on said buildings, the beneliciary may procure the same at grantor's expense. The amount collected under any fire or other insurance policy may be applied by beneli- ciary upon any indebtedness secured hereby and in such order as beneficiary may determine, or at option 01 beneficiary the entire amount so colJected, or any part thereol, may be released to grantor. Such application or release shall not cure or waive any default or notice 01 delault hereunder or invalidate any act done pursuant to such notice. 5. To keep said premises free from construction liens and to pay all taxes, assessments and other ch~rges that may be levied or assessed upon or against said property before any part 01 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. ,!r other c,hlfJrges p,ayable by g~antor,. either by direct payment or by provJdJng benefJcJary WJth funds WJth whJch 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 01 this trust deed, shalJ 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 prop- erty hereinbelore described, as well as the grantor, shalJ be bound to the same extent that they are bound for the payment of the obligation herein described, and alJ such payments shalJ be immediately d.ue and payable. ,,:ith- out notice and the nonpayment thereof shalJ, at the optJon of the benefJcJary, 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 01 title search as welJ as the other costs and expenses of the trustee incurred in connection with or in enlorcing this obligation and trustee's and attorney's fees actualJy incurred. 7. To appear in and defend any action or proceeding purporting to affect the security rights or powers of beneliciary or trustee; and in any suit, action or proceeding in which the ~eneliciary or trustee may appear, includi!1g any suit for the foreclosure of thJS deed, to pay alJ costs and expenses, In- cluding evidence of title and the beneliciary's or trustee's attorney's fees,' the amount 01 attorney's fees mentioned in this paragraph 7 in alJ cases shalJ be fixed by the trial court and in the event of an appeal from any judgment or decree 01 the trial court, grantor further agrees to pay such sum as the ap- pelJate court shalJ adjudge reasonable as the beneficiary's or trustee's attor- ney's fees on such appeal. it is mutually a~reed that: 8. In the event that any portion or alJ 01 said property shalJ be taken under the right of eminent domain or condemnation, beneficiary shalJ have the right, if it so elects, to require that alJ or any portion of the monies payable as compensation for such taking, which are in excess of the amount required to pay alJ reasonable costs, expenses and attorney's fees necessarily paid or incurred by grantor in such proceedings, shalJ 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 applJed 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. A t 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 fulJ reconveyances, for canceJ1ation), without aflecting the liability of any person for the payment 01 the indebtedness, trustee may (a) consent to the making of any map or plat of said property; (b) join in . granting any easement or creating any restriction thereon,' (c) join in any subordination or other agreement aflecting this deed or the lien or charge thereol,' (d) reconvey, without warranty, alJ or any part of the property. The grantee in any reconveyance may be described as the H person or persons legalJy entitled thereto," and the recitals therein 01 any matters or facts shalJ be conclusive prool 01 the truthfulness thereol. Trustee's fees for any 01 the services mentioned in this paragraph shalJ be not less than $5. - 10. Upon any delault 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 01 any security lor the indebtedness hereby secured, enter upon and take possession of said prop- erty or, any part thereol, in its own name sue or otherwise collect the rents, issues and prolits, including those past due and unpaid, and apply the same, less costs and expenses 01 operation and colJection, including reasonable attor- ney's fees upon any indebtedness secured hereby, and in such order as bene- liciary may determine. 11. The entering upon and taking possession 01 said property, the colJection 01 such rents, issues and prolits, or the proceeds 01 fire and other insurance policies or compensation or awards for any taking or damage 01 the property, and the application or release thereol as aloresaid, shalJ not cure or waive any delault or notice 01 delault hereunder or invalidate any act done pursuant to such notice. 12 . Upon default by grantor in payment of any ind~btedne~s secured hereby or in his performance of any agreement hereunder, tJme be.Jl~g 01 the essence with respect to such payment and/or performance, the benelJcJary may declare aJ1 sums secured hereby immediately due and payable. In such an event the beneliciary at his election may proceed to foreclose. this trust deed in equity as a mortgage or direc! the trustee to foreclose thJS trust d*;ed by advertisement and sale, or may dJrect the trustee to pursue any other rJght or remedy, either at law or in equity, which the. beneficiary may have. In t~~ event the beneliciary elects to foreclose by advertJsement and sale, the benelJcJary or the trustee shalJ execute and cause to be recorded his written notice of delault and his election to sel1 the said described real property to satisly the obligation secured hereby whereupon the trustee shall fix the time and place .01 sale, give notice thereof as then required by law and proceed to foreclose thJS trust deed in the manner provided in ORS 86.735 to 86.795. 13. After the trustee has commenced foreclosure by advertisement and sale and at any time prior to 5 days before the date the trustee conducts the sale' the grantor or any other person so privileged by ORS 86.753, may cure the'delault or delaults. If the delault consists 01 a failure to pay, when due, sums secured by the trust. deed, the default may be cured b~ paying the entire amount due at the tJme of the cure other than such portJon as would not then be due had no delault occurred. Any other delault that is capable of being cured may be cured by tendering. the pf!r.formance ~equired under the obligation or trust deed. In any case, In addJtJon to cUring .tl,!e default or defaults the person eflecting the cure shall pay to the benefJcJary all costs and expenses actually. incurred in enforcing the obligation of the trust deed together with trustee's and attorney's fees not exceeding the amounts provided by law. 14. Otherwise, the sale shalJ 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 selJ said property either in one parcel or in separate parcels and shall selJ 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 selJs pursuant to the powers provided herein, trustee shall apply the proceeds 01 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. Beneliciary may Irom time to time appoint a successor or succes- sors to any trustee named herein or to any successor trustee appointed here- under. Upon such appointment, and without conveyance to the successor trustee, the latter shall be vested with alJ title, powers and duties conlerred upon any trustee herein named or appointed hereunder. Each such appointment and substitution shall be made by written instrument executed by beneficiary, which, when recorded in the mortgage records 01 the county or cou~ties in which the property is situated, shall be conclusive proof 01 proper appOIntment 01 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 01. pending sale under any other deed 01 trust or of any action or proceeding in which grantor, beneliciary or trustee shalJ 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 ao 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 su.bsidiaries, affiliates, agents or branches, the United States or any agency thereof, or an escrow agent licensed under ORS 696.505 to 696.585. II 4 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 thereto this Trus Deed is inferior to the Trust Deed recorded as Documents No. 75-09838, No. 76-22430, No.77-14557, No. 80-18054, No. 81-00236 as well as Volume 509 pg 123 dated June 20, 1961 and Volume 555 pg 111 dated October 17,1963 both * and that.. he will warrant and forever defend the same a~ainst all persons whomsoever. * recorded in Deed Records of Jackson County Oregon. The grantor warrants that the proceeds of the loan represented by the above described note and this trust deed are: ( a)* primarily for grantor's personal, family or household purposes (see Important Notice below), (b) for an organization, or (even if grantor is a natural person) are for business or commercial purposes. I I' ,I II L , I I' I I I This deed applies to, inures to the benefit of and binds al1 parties hereto, their heirs, legatees, devisees, administrators, executors, personal representatives, successors and assi~ns. The term beneficiary shall mean the hoJder and owner, including pledgee, of the contract secured hereby, whether or not named as a beneficiary herein. In construing this deed and whenever the context so requires, the masculine gender include. the feminine and the neuter, and the singular number includes the plural. IN WITNESS WHEREOF, said grantor has heke '~el'7i~~.d the day~ye~irst above written. r / ...., ;u;.;oaTANT NOTICE: Delete, by lining out, whichever warranty (a) or (Ii · ""''''" ....-"':,::._::~:~. .~'. .....:.. ."~..~ _.-:~:.~~~................._.......... 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 I I - .' ._' beneficiary MUST comply with the Act and Regulation by making required _.._..... .~h:~.n.... .___.. .._... n ........ .... no......... ........ no..n h...... ........ ...... disclosures; for this purpose use Stevens-Ness Form No. 1319, or equivalent. If compliance with the Act is not required, disregard this notice. --... ---------.-. - ---- - ------ ------ ----... --- ---- -- --... -- -..-.... ---.. -- -- -- --...... ---.... ---.----... ... ... II II II I STATE OF OREGON, County of --------.Jac.ks_on___________________________) SSe This instrument was acknowledged before me on ____________________________________________________, 19________, by - --------Liza--K.____Chr_is_t..ian__ __ __ __ __ _ _ __ __ _ _ ___ ___ _ ___ _ _ __ _ _ __ _ _ __ _ _ __ _ _ __ _ _ __ _ _ __. __ _ _ __ ___ ___ __ _ _ __ __ _ _ _____ _ __ __ _ _ ____ _________. This instrument was acknowledsed before me on ____________________________________________________, 19________, by ____ _ ____ _ _ __ __ _ _ ____ _ _ __ ___ _____ _.. __ __ _ _____ _ _ ____ _ _ __ __ _ _____ _ _ __ __ _ _ ________ _ _ ___ _ __ _ ___ _ _ __ _ _ _ _ _ _ __ _ ____ _ __ _ _ ______- __ _ _ __ __ _ _ ____ _ _ __ _ _ _ ___ _ _ _ _ __ _ _ _ _ __ __ _ _ __ _. ~ ~~~~~~~~~~~~ ~~~~~~~~~~~ ~~~~~~~~~~~~ ~~~~~~:~~~~~~~~::~~:: :~:~~~~~~~~~ :~~~~::~~~~:::~~~~ ~~~:~~~~~::: ~~~~::: :~~~~::~ :~~~ :::~:~~~~~:~~: ~ RO~Bi~~ PEt\RC~ Si\\iTfi ~ I. ~ I ....., or... ''\.' ;r .... /I' r-.. '; ~ --0. \ ~ ~,.~ :'~~ .... '.-~. 0 'r~. ~. If! Ii ,~, ~ .~~.. >. &-',' '" t,;' t ~.' 7.1 I' l r 11 ~... 1 ... Ji ~ ." ~.,;Y a ,I""ti "',;, j >>~'.J t... ii '-' - i\b \..:J. tf ,1M '.. ~ II y CommiSSion Expires ~ " .. I' -- - -. ---.. - ---- -. ---- ----- - - --- ---. -- -. - ---- --. ---- -. ---------.------ ---- ---. -------. - ----- - -----...--..-- Notary Public for Oregon My commission expires _______________________________________________________________. IEQUIST FOI FULL IECONVEY ANCE T e be u.ed only when oblllatlon. have b..n paid. TO: .. -. _'00 - ~- - _e. - - -- - - - - ___..._u -_ - _._ - ._. ___.__.. 00..____. _e. __".u _________. 00 _.h___ 00_.._____._, Trustee The undersi,ned is the 1e,al owner and holder of all indebtedness secured by the fore,oin, trust deed. All sums secured by said trust deed have been fully paid and satisfied. You hereby are directed, on payment to you of any sums owi~ 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 deed) and to reconvey, without warranty, # to the parties desi,nated by the terms of said trust deed the estate now held by you under the same. Mail reconveyance and documents to ._ _0' -------------.-.---------u---,--_____________._______uu___________.-_______._____________00________. D A TED: - - - - . - .- - - -- . - - - -- - - - - - - - - - - _ _ _ _. _ _ __ _ _ __ __ _ __ _ _ __ _ . 00 __ _ __ _ _ _ __ . _ _ _ _ _ _ _, 19 __ 00 _ _ _ _ u _ . -...... - - - ...._. _0_...... _ _. _ _ __ ...._............_ _......_.....__............_..___................._....._ _...... _........_........................_ ___........ .._........ _ ..__... _ __... _ _ .......... .___ _. _ ..____.... --- -. -...-...--.....-...- - - -- --"---.....-... ......-.....-......--...-...--.........---....-.......-...-....-... - --. --.... --. -. --. - - ---- - -.. - --- - - - -..- -.. - - - -. - - --- - - - - - - - - -. Beneficiary De n.t I... or d..tr.y this Tru.t Deed 01 THE NOTE which it ..cur... I.th mu.t b. d.liv.r.d to the tru.t.. for canc.llation before reconv.yanc. will b. mad.. TRUST DEED /J.'/'1 NOV 1 3 1991 STATE OF OREGON, } SSe County of __________________________________________. I certify that the within instrument --~eived for record on the ____________ day ~-------------------------------------------, 19________, t:----- o'clock ______M., and recorded Vreel/volume No. ___.0_______________ on 1__________.0_________ or as fee/file/instru- ~"crofilm/ reception No. m__u... u_ .u' I MortAa~s of said County. itness my hand and seal of \ affixed. (FOIM No. 111) STEVENS-NESS LAW PUB. co.. PORTLAND. ORE_ Grantor Jackson County, Oregon Recorded OFFICIAL RECORDS Beneficiary AFTER RECORDING RETURN TO 1M. KA THLEEN . s. BECKm ~G!:~~ IIiI T --------!_-----------------------------____________ Deputy i ~ ~ -- - - -- - - -- -- - - -- - - -- -- - - -- - - -- -- - - -- - - -- - - -;I~~-~ -- - -. City of Ashland 20 East Main Street Ashland~ 'OR ~,9,15'20 ----n PROMISSORY NOTE Borrower's Name ~~ Loan No. Property Address ~ l::>o.k ~ Lc)an Amoun14Cf)O. C() Date~~1 \Cf1J Ashland, Oregon FOR VALU RECEIVED pursuant to a Deferred ~ayment Loan from the City of Ashland, the undersigned jointly a~d severally promise (s) to pay to the order of the City of Ash~and, a political subdivision of the~~~~~r!~o~~~or it'$ successors, the sum of ($4i).JCJ~CO ) ~ XX)foo dollars. THIS NOTE shall become due and payable upon any actual or attempted transfer, voluntary or involunta*y, including by operation of law excluding the death of le$s than all of the undersigned, of any interest in that certa~n real property identified and described in the Trust Deedisecuring this indebtedness. When death of the undersign~d causes transfer of the property to a surviving spouse or mino* children, the above shall not apply and the rights and respons~bilities of this Note shall transfer with the property to the su*viving spouse. Said payment shall be made in lawful money of t~e United States of America at the office of the Ashland Commu*ity Development Department, Ashland, Oregon,' or at such otliter 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 sin,le 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 recover on this Note, the prevailing party agrees to pay to the losing party all costs of such collection, includ!ng reasonable attorney's fees and court costs at trial ahd on appeal. IN WITNESS WHEREOF, THIS NOTE AND TRUST DE~D SECURING THE NOTE, HAVE BEEN DULY EXECUTED BY THE UNDERSIGNED, AS OF THE DATE BELOW WRITTEN. 9~fi/ Signature Date