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HomeMy WebLinkAbout2010-007 Trust Deed - Roth r Jackson County Official Records 2010 -003288 TRUST DEED R TD NC Cnt =t Stn =6 HELMAB 28 2010 02:58:47 PM NAME AND ADDRESS OF GRANTOR: $25.00 110 $15.00 5.00 $10.00 $5.00 $.015. Total:$66.00 Ronald E. Roth 6950 Old Highway 99 South 111111 1 III 1111111111 Ashland, OR 97520 01412038201000032880050055 NAME AND ADDRESS OF BENEFICIARY: I, Christine Walker, County Clerk for Jackson County, Oregon, certify City of Ashland, Oregon that the Instrument Identified herein was recorded In the Clerk 20 East Main Street records. Christine Walker County Clerk Ashland, OR 97520 AFTER RECORDING RETURN TO: Richard Appicello Ashland City Attorney 20 East Main Street Ashland OR 97520 THIS TRUST DEED is made this 2. day of SA LOt 2010, between Ronald E. Roth and Kathleen MacMichael, as Grantor, Richard Appicello, Attorney at Law, as Trust and City of Ashland, Oregon, Beneficiary. Grantor irrevocably grants, bargains, sells and conveys to Trustee in trust, with power of sale, the property in Jackson County, Oregon, described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND INCORPORATED HEREIN together with the tenements, hereditaments and appurtenances and all other rights thereto belonging or in anyway now or hereafter appertaining, and the rents, issues and profits thereof and all fixtures now or hereafter attached to the property; FOR THE PURPOSE OF SEQLJRING PERWMANCE of each agreement of grirloy herein contained and payment oft e,ysymof T14i ty Foy e Itoug flN0 IWoMUNOR4D, FifirSIX DOLLARS S 2 S �o 1 with interest thereon according to 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 F 0Li unity 1 k 1 O 1 The date of maturity of the debt secured by this instrument is the date, stated above, on which the final installment of the note becomes due and payable or such earlier date as may be occasioned by a default under the terms of said promissory note. 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 improvement 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 property against loss or dams a by fire and such other hazards as the beneficiary may from time to time require, in an amount not less than 3 S 2 g 5 6 I- 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 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 procure 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 hereunder 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 payment, Beneficiary may, at its option, make payment thereof, ,1 and the amount so paid, with interest at the rate set forth in the note secured hereby, together with the obligation 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 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 or any suit or action related to this instrument, including but not limited to its validity and /or enforceability, to pay all costs and expenses, including evidence of title and the Beneficiary's or Trustee's attorney fees; the amount of attorney 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 that the appellate court shall adjudge reasonable as the Beneficiary's or Trustee's attorney 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, 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 Beneficiary 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 compensation, promptly upon Beneficiary's request. 9. At any time and from time to time upon written request of Beneficiary, payment of its fees and presentation of this deed and the note for endorsement On 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 the property; (b) 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 therein 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 appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of the property 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 attorney's lees upon any indebtedness secured hereby, and in such order as Beneficiary may determine. 11. The entering upon and taking possession of the 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 Grantor's performance of any agreement hereunder, time being of the essence with respect to such payment and /or performance, the Beneficiary may declare all sums secured hereby immediately due and payable. In such an event the Beneficiary may elect to proceed to foreclose this trust deed in equity as a mortgage or direct the Trustee to foreclose this trust deed by advertisement and sale, or may direct the Trustee to pursue any other right or remedy, either at law or in equity, which the Beneficiary may have. In the event the Beneficiary elects to foreclose by advertisement and sale, the Beneficiary or the Trustee shall execute and cause to be recorded a written notice of default and election to sell the property to satisfy the obligation 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 86.735 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 default or defaults. If the default consists of a failure to pay, when due, sums secured by the trust deed, the default may be cured by paying the entire amount due at the time of the cure other than such portion as would not then be due had no default occurred. Any other default that is capable of being cured may be cured by tendering the performance required under the obligation or trust deed. In any case, in addition to curing the default or defaults, the person effecting the cure shall pay to the Beneficiary 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 shall be held on the date and at the time and place designated in the notice of sale or the time to which the sale may be postponed as provided by law. The Trustee may sell the 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 implied. 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, including 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 any successor in interest entitled to such surplus. 16. 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, which, when recorded in the mortgage records 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. The Grantor covenants and agrees to and with the Beneficiary and the Beneficiary's successor in interest that the Grantor is lawfully seized in fee simple of the real property and has a valid, unencumbered title thereto, except as may be set forth in an addendum or exhibit attached hereto, and that the Grantor will warrant and forever defend the same against all persons whomsoever. This deed applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, administrators, executors, personal representatives, successors and assigns. The term Beneficiary shall mean the holder and owner, including pledgee, of the contract secured hereby, whether or not named as a Beneficiary herein. The singular shall include the plural. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007. IN WITNESS WHEREOF, a Grantor has executed this instrument the day and year first above written. `I/ t 1 Ronald Ro ath een MacMichael STATE OF OREGON County of Jackson ss The foregoing instrument was acknowledged before me on the 2' of D fr. km.,6E/L. 2009, by Ronald E. Roth. SO Notary Public for Oregon /late OFFICIAL SEAL ti M commission ex ires: 0 2 5' 1 L. 1 JJ ma ALLEN 0 DRESCHER fl y p k NOTARY PUBLIC -OREGON p COMMISSION N0. 431814 0 MYCOMMISSION EXPIRES FP OBER 28, 201 0 STATE OF OREGON County of Jackson ss The foregoing instrument was acknowledged before me on the ZG day �c 20 10 by Kathleen MacMichael. r l� -�.1 Notary Public for Oregon y OFFICIAL SEAL 1 UEANNA MONIQUE COSMO Otl My commission expire Zsl 3 L. MI_ ON EX I' 8 r II. 1 EXHIBIT "A" 5 e l A T TAC-14 E EXHIBIT "A" LEGAL DESCRIPTION PROPERTY LINE ADJUSTMENT ASSESSORS MAP NO. 402E20 Tax Lot 900 A Property Line Adjustment of that tract of land described within Instrument No. 98- 53631 of the Official Records of Jackson County, Oregon, with that tract of land described within Instrument No. 98 -53632 of said Official Records, lying situate within the Southeast Quarter of Section 20, Township 40 South, Range 2 East of the Willamette Meridian, in Jackson County, Oregon, more particularly described and bounded as follows, to wit; BEGINNING at a 5/8 inch iron pin at the Northwest corner of that tract of land described within Instrument No. 98 -53631 of the Official Records of Jackson County, Oregon, said corner lying along the southeasterly right of way line of U.S. Interstate 5; thence South 00 °04'39" East, leaving said southeasterly line, a distance of 368.12 feet to a 5/8 inch iron pin along the northerly right of way line of Old Siskiyou Highway 99; thence following said northerly line, a distance of 186.98 feet along the arc of a 174.63 foot radius curve to the right, having an included angle of 61 °20'54" (Chord bearing North 84 °38'57" West, 178.18 feet) to a point of tangency; thence North 53 °58'30" West, 14.90 feet to a point of curvature; thence 52.02 feet along the arc of a 130.52 foot radius curve to the left, having an included angle of 22°50'12" (Chord bearing North 65°23'36" West, 51.68 feet) to a 5/8 inch iron pin; thence North 44 °34'45" East, leaving said northerly line, a distance of 54.20 feet to a 5/8 inch iron pin; thence East, 33.25 feet to a 5/8 inch iron pin; thence North 21 °36'32" East, 93.94 feet to a 5/8 inch iron pin; thence North 33 °39'40" East, 234.63 feet to the POINT OF BEGINNING. Containing 44,529 square feet (1.02 acres), more or less.