HomeMy WebLinkAbout1996-005 Trust Deed - CERVS 96-,00314 (,?,
TRUST DEED
This trust deed is made on ~Ta.~ua.~y 3, ;1_996 , t{~il{~, between CO~UN~T'~
Emergency Resources and Vital Services ("CERVS"), an Oregon non-profit
corporation, as Grantor, the City of Ashland, Oregon, as Beneficiary, and Paul Nolte,
an active member of the Oregon State Bar, as Trustee.
Grantor conveys to Trustee in trust the property described in the attached Exhibit A,
located in the City of Ashland, Jackson County, Oregon with all appurtenances, and all
existing or subsequently erected or affixed improvements or fixtures which shall be
referred to in this trust deed collectively as the property.
This deed secures the following, collectively referred to as the "Obligations":
(A) The payment and performance of all covenants and obligations in this trust
deed, in the Grant Agreement dated January 4 ,1996 between the City of Ashland
andco~raNi~:¥' Emergency Resources and Vital Services ("CERVS"), an Oregon non-
profit corporation by and through the Interfaith Care Community of Ashland ("ICCA")
(further referred to in this deed as the "Agreement"), and in all other security
agreements, notes, agreements, and undertakings now existing or hereafter executed
by Grantor with or for the benefit of Beneficiary; and
(B) The payment and performance of any and all other indebtedness and
obligations of Grantor to Beneficiary of any nature whatsoever, whether direct or
indirect, primary or secondary, joint or several, liquidated or unliquidated, whenever
and however arising, and whether or not reflected in a written agreement or
instrument;
and is given and accepted on the following terms:
1. Grantor agrees to performs all of the Obligations in accordance with their terms.
Until default occurs, Grantor shall remain in possession and control of the property
and subject to the terms of the Contract, Grantor shall be free to operate and manage
the property and receive the proceeds of operation.
2. Grantor warrants that Grantor holds merchantable title to the property in fee simple
or that Grantor holds a vendee's interest in the property under a conditional sales
contract.
3. Grantor warrants and will defend Grantor's title against the lawful claims of all
persons. In the event any action or proceeding is commenced that questions
Grantor's title or the interest of Beneficiary or Trustee under this deed, Grantor shall
defend the action at Grantor's expense.
4. In addition to all powers of Trustee arising as a matter of law, Trustee shall have
the power to take the following action with respect to the property on the request of
Beneficiary and Grantor: (a) joining in the dedication of roads or other rights in the
public; (b) joining in granting any easement or creating any restriction on the property;
PAGE 1-TRUST DEED (p=agree\icca.ded)
.96-003 4
(c) joining in any subordination or other agreement affecting this deed or the interest
of Beneficiary under this deed; or (d) selling the property or any part thereof. Trustee
shall not be obligated to notify any other party of a pending sale under any other deed
or trust or lien, or of any action or proceeding in which Grantor, Beneficiary, or Trustee
shall be a party, unless the action or proceeding is brought by Trustee.
5. If Grantor performs all of the Obligations imposed on Grantor under this instrument
and the Agreement, Beneficiary shall execute and deliver to Trustee a request for full
reconveyance.
6. Grantor shall be deemed to be in default if Grantor fails to perform any of the
obligations imposed by this instrument or the Agreement.
7. On the occurrence of any event of default and at any time thereafter, Beneficiary
may exercise any one or more of the following rights and remedies:
7.1. The right to declare all sums secured hereby immediately due and
payable.
7.2. The right to foreclose by notice and sale by Trustee or by judicial
foreclosure, in either case in accordance with applicable law.
7.3. The right in connection with any legal proceedings to have a
receiver appointed to take possession of any or all of the property, with
the power to protect and preserve the property and to use the property
preceding foreclosure or sale and apply the proceeds, over and above
costs of the receivership, against the loan obligation. The receiver may
serve without bond if permitted by law. Beneficiary's right to the
appointment of a receiver shall exist whether or not apparent value of the
property exceeds the loan obligation by a substantial amount.
7.4. Any other right or remedy provided in this deed or the Agreement.
8. In the event the Trustee exercises the power of sale conferred by this Trust Deed,
the Trustee shall apply the proceeds of the sale in the following order:
8.1. To the expense of the sale, including reasonable attorney fees,
8.2. To the loan obligation secured by this Trust Deed, and
8.3. The surplus, if any, to the persons entitled thereto.
9. A waiver by either party of a breach of a provision of this agreement shall not
constitute a waiver of or prejudice the party's right otherwise to demand strict
compliance with that provision or any other provision. Election by Beneficiary to
pursue any remedy shall not exclude pursuit of any other remedy, and an election to
make expenditures or take action to perform an obligation of Grantor under this deed
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96-00314
after failure of the Grantor to perform shall not affect Benefioiary's right to declare a
default and exercise its remedies under this trust deed or the Contract.
10. Subject to the limitations stated in this deed on transfer of Grantor's interest, and
subject to the provisions of applicable law with respect to successor trustees, this
deed shall be binding on and inure to the benefit of the parties, their successors and
assigns.
Grantor: CO~,gR~NITY EMERGENCY_
Resource.~ and Vit.~tp:~ervices,f
Title~' ~~ ~
State of Oregon
County of Jackson
This instrument was acknowledged before me on January 3, 1996
by Charles R. Taboada, Sr as Contract Person
Emergency Resources and Vital Services, and Donald E. Fichtner
as Treasurer
Services.
of COMMUNITY
of COM~UNr~Y Emergency Resources and Vital
My Commission expires:
PAGE 3-TRUST DEED {p:agree\icca.ded
96-00314
Exhibit A
A.1. PROPERTY DESCRIPTION: Property located at 144 N. 2rid Avenue, Ashland,
Oregon; Map and Tax Lot Number: 9BA 9200; more particularly described as:
Lots 15 and 16 in Block "M" of the RAILROAD ADDITION to the City of Ashland,
Jackson County, Oregon, according to the Official Plat thereof.