HomeMy WebLinkAbout2006-031 Trust Deed/Transfer Agrmt - Herrera
~~~kson County Official Records 2006-012692
Cnt=1 Stn=4 SHAWBJ 03/14/200608:00:00 AM
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01180442200600126920100109
I, Kathleen S. Beckett, County Clerk for Jacklon Count
~::~~hlt thl instrument identlned herein WII record:'; ~r:~:~'erk
Kathleen S. Beckett - County Clerk
THIS DEED IS BEING EXECUTED IN COUNTERPARTS OF EACH
- SHALL BE DEEMED AN ORIGINAL REGARDLESS OF TEH DATE OF
AND DELIVERY AND ALL SUCH COUNTERPARTS TOGETHER SHALL
AND THE SAME DOCUMENT.
~~~~~~tTO:
City of Ashland
20 East Main St.
Ashland, OR 97520
Attn: Barbara Christensen. City Recorder
OF WHICH
ITS EXECUTION
CONSTITUE ONE
,
'ECC1.DED BY LAW"r:..RS TITl': !NS. CORP A,S ,".~
...:COM~k.XA! :ON Oi~LY NO LiABILITY IS ACCEPTED
:q.J,; THE CON'JITION OF TITLE OR FOR THE VALIDITY,
<!;I"";':,,:'! OR l:1-+ECT Of THIS DOCUMENT.
" .\..1._.\.,.. lj
ASSUMPTION OF NOTE and TRUST DEED
and
CONSENT TO ASSUMPTION and TRANSFER AGREEMENT
CITY OF ASHLAND AFFORDABLE HOUSING
SDC DEFERRAL PROGRAM
THIS ASSUMPTION OF NOTE AND TRUST DEED and CONSENT TO
ASSUMPTION and TRANSFER AGREEMENT ("Agreement") is made effective the
date of the last signature below among:
Borrower:
ROSALEEN RlCBHART, AS AFFIANT AND
CLAIMING SUCCESSOR TO THE ESTATE OF
DEBRA LYNN HARRISON
New Obligor:
GLORIA HERRERA and
WILLIAM RENE SEGOVIA MARTINEZ
1602 East Jackson Street
Medford, OR 97501
Lender:
CITY OF ASHLAND, OREGON ("City")
With its principal office and post office address at 20 East
Main St., Ashland, OR 97520
Pursuant to the Promissory Note, Deed of Trust, and City of Ashland
AtTordable Housing Resale Restriction Covenant ("Covenant") all dated October 25,
2005, entered into by and between the City of Ashland (the "Lender") and Debra L.
Harrison (the "Borrower"), said Deed of Trost being recorded in the official records of
Jackson County as record number 2005-067584 and said Covenant being recorded in
the official records of Jackson County as record number 2005-067585 in the County
of Jackson, State of Oregon, on November 3, 2005, Lender agreed to defer system
development charges of $5,747.64 due for her construction of a residence on Lot 4 of the
2001 Siskiyou Subdivision in Ashland, Jackson County, Oregon (the "Property") by
making a loan of that amount with payment deferred on the condition she comply with
the covenants and restrictions in the City of Ashland Affordable Housing Resale
Restriction Covenant.
Page 1 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
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Collectively, the Promissory Note; Deed of Trust, and City of Ashland Affordable
Housing Resale Restriction Covenant are the "SDC Loan Documents". Each of the SDC
Loan Documents is made a part of this Agreement by this reference.
Debra Lynn Harrison died before completing construction of her home on the
Property, and Rosaleen Richhart is the Claiming Successor to the Estate of Debra Lynn
Harrison pursuant to the Small Estate Affidavit filed in Jackson County Circuit Court on
January 31, 2006. Ms. Richhart has agreed to transfer Debra's home and leasehold
interest in the Property to the New Obligor in exchange for their assumption of all of the
Estate's present or future obligations and liabilities arising out of or related to the home
and the Property.
By an Assignment and Assumption of Land Lease, Mutual Self-Help Agreements,
Release, and Consent of Land Owner ("Assignment") and a Bargain and Sale Deed
executed at the same time of this Agreement, Borrower and New Obligor have agreed to
transfer all of Borrower's Estate's interest, rights, and liabilities arising from or related to
RVCDC's 2001 Siskiyou Mutual Self-Help project and Borrower's Estate's home and
leasehold interest in the Property to New Obligor in exchange for their assumption of all
obligations and liability arising from or related to the project and the Property and
RVCDC's general release and indemnification for all claims related to them.
The parties agree that the consideration for this Agreement is New Obligor's
assumption of all obligations and liabilities arising from and related to SDC Loan
Documents.
The New Obligor has reviewed the SDC Loan Documents and is willing to
assume Debra Lynn Harrison's obligations in exchange for deferral of the SDC fees. The
New Obligor has submitted financial information to the City of Ashland required by
section 4.2 of the City of Ashland Affordable Housing Resale Restriction Covenant, and
the City has found that information, if true, would make the transfer of Debra Lynn
Harrison's home a Qualified Transfer. On the basis of that information being true and
correct, the City is prepared to permit the transfer.
This Agreement is being executed to evidence and confirm the terms for the
City's consent to the transfer of t.he Project and Property and spC Loan Documents to
New Obligor, pursuant to the tertns set forth in this Agreement.
NOW, THERFORE, Borrower and New Obligor hereby agree with the City as follows:
1. Borrower is conveying its interest in the Project and Property to New Obligor,
pursuant to the terms of an Assignment, Deed, and the related documentation
referenced above. The City hereby approves of the transfer pursuant to such
documents on the condition of the truth and accuracy of the information submitted
by New Obligor.
Page 2 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
2
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New Obligor hereby unconditionally assumes all obligations of Borrower to the
City under the SDC Loan Documents, including the obligation to make all
payments and to perform all obligations thereunder. New Obligor also hereby
unconditionally assumes the obligation to perform all obligations herein. Nothing
in this Agreement or in the SDC Loan Documents shall be construed as restricting
or impairing any right of the City to resort to, proceed against, or otherwise
exercise its rights with respect to any security interest in the Property in
accordance with the rights granted to the City by this Agreement and by the SDC
Loan Documents. New Obligor will execute and deliver to the City such
documents reasonably requested by the City to effect and maintain its security
interest in the Property.
The City hereby consents to and approves of the transfer to New Obligor and New
Obligor's assumption of Borrower's obligations under the SDC Loan Documents
without affecting in any manner the restrictions and requirements of the SDC
Loan Documents with respect to any further or additional transfer. This consent
and approval by the City is conditioned, however, upon prior execution and
recording of subordination agreements acceptable to the City by any and all
current lienholders with respect to the Property except USDA Rural
Development.
Borrower also hereby consents to this assumption by New Obligor.
2. Transfer and assumption of obligations will take effect when I) a Bargain and
Sale Deed from the Estate of Debra Lynn Harrison to New Obligor, 2) the
Assignment, and 3) this Agreement are fully executed and recorded in the real
estate records of Jackson County, Oregon effecting the transfer of vesting from
Borrower to New Obligor.
3. Borrower expressly disclaims any representation or warranty with respect to the
Project and Property, the SDC Loan Documents, or the Land Lease and
Assignment, express or implied.
4. New Obligor will defend and indemnify Borrower from and against any and all
claims, actions, proceedings, damages, liabilities, and expenses of every kind,
whether known or unknown, including but not limited to reasonable attorney's
fees, resulting from or arising out of the Project and Property or the SDC Loan
Documents or this Agreement.
5. City releases Borrower from and against any and all claims, actions, proceedings,
damages, liabilities, and expenses of every kind, whether known or unknown,
resulting from or arising out of the Project and Property, the SDC Loan
Documents, and this Agreement.
6. The Agreement of the parties incorporates the recitals and may be signed in
counterpart.
Page 3 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
3
-,~
~-
IN WITNESS WHEREOF, this instrument has been duly executed as of the date and year
first above written.
CITY :
The City of Ashland, Oregon, a municipal
corporation acting by and through its
AFFORDABLE HOUSING PROGRAM
By: Brandon Goldman, Housing Program
Specialist, Department of Community Development
Approved as to form:
[Assistant] City Attorney
Date:
STATE OF OREGON )
): ss
County of )
The foregoing instrument was acknowledged before me this _ day of
, 2006, by Brandon Goldman, on behalf of the City of Ashland,
Oregon.
NOTARY PUBLIC FOR OREGON
My Commission Expires:
NEW OBLIGOR:
Page 4 of 5 - City of 'Ashland Affordable Hous~ng SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
l.{
STATE OF OREGON
County ofJ~
)
): ss
)
The foregoing instrument' was acknowledged before me this ~ day of
-::J- 1" ---bnJ aN'1 .2006 by Gloria Herrera.
CLARA ROWE
NOTARY PUBUC-oREGON
c:ClW.1ISSICN NO. 394307
M\' CQ.I._ON EXAAES JUN 27. 2009
NOTARY PUBLIC FOR OREGON
My Commission Expires: ~ ... ,;; 7... (J c;
STATE OF OREGON )
): ss
County of ~cJzc--vY\- )
The foregoing instrument was acknowledged before me this ~ day of
'":1-..eb (1.1 ~ . 2006 by William Rene Segovia Martinez.
OFFICIAl SEAl
CLARA ROWE
NOTARY PU8lIC-oREGON
COMMISSION NO. 394307
MY COMMISSION EXPIRES JUN 27. 2009
tk..~~
NOTARY PUBLIC FOR OREGON
My Commission Expires: . U, "CJ 7 -LJ 7
BORROWER:
~ b U/k/ J/ ~L...d
Rosaleen Richhart as Affiant and Claiming
Successor to the Estate of Debra Lynn Harrison
STATE OF MISSOURI)
): ss
CITY OF ST. LOUIS )
JACOB METHENY
NotarY Public - ~0tarY, seal
State of Mlssoun
St. Louis County
My Commlaalon Expires Jan. 26. 2009
CommissIon #I 05658529
Page 5 of5 - City of Ashland AffordableHousing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
5
..,-.. ~.
~~it~r~1~c~~TO:
City of Ashland
20 East Main St.
Ashland, OR 97520
Attn: Barbara Christensen, City Recorder
~5"
'5'
/I
ASSUMPTION OF NOTE and TRUST DEED
and
CONSENT TO ASSUMPTION and TRANSFER AGREEMENT
CITY OF ASHLAND AFFORDABLE HOUSING
SDC DEFERRAL PROGRAM
THIS ASSUMPTION OF NOTE AND TRUST DEED and CONSENT TO
ASSUMPTION and TRANSFER AGREEMENT ("Agreement") is made effective the
date of the last signature below among:
Borrower:
ROSALEEN RICHHART, AS AFFIANT AND
CLAIMING SUCCESSOR TO THE ESTATE OF
DEBRA LYNN HARRISON
New Obligor:
GLORIA HERRERA and
WILLIAM RENE SEGOVIA MARTINEZ
1602 EastJackson Street
Medford, OR 97501
Lender:
CITY OF ASHLAND, OREGON ("City")
With its principal office and post office address at 20 East
Main St., Ashland, OR 97520
Pursuant to the Promissory Note, Deed of Trust, and City of Ashland
Affordable Housing Resale Restriction Covenant ("Covenant") all dated October 25,
2005, entered into by and between the City of Ashland (the "Lender") and Debra L.
Harrison (the "Borrower"), said Deed of Trust being recorded in the official records of
Jackson County as record number 2005-067584 and said Covenant being recorded in
the official records of Jackson County as record number 2005-067585 in the County
of Jackson, State of Oregon, on November 3,2005, Lender agreed to defer system
development charges of $5,747.64 due for her construction ofa residence on Lot 4 ofthe
2001 Siskiyou Subdivision in Ashland, Jackson County, Oregon (the "Property") by
making a loan of that amount with payment deferred on the condition she comply with
the covenants and restrictions in the City of Ashland Affordable Housing Resale
Restriction Covenant.
Page 1 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
fo
~-r- -
r I
Collectively, the Promissory Note; Deed of Trust, and City of Ashland Affordable
Housing Resale Restriction Covenant are the "SDC Loan Documents". Each of the SDC
Loan Documents is made a part of this Agreement by this reference.
Debra Lynn Harrison died before completing construction of her home on the
Property, and Rosaleen Richhart is the Claiming Successor to the Estate of Debra Lynn
Harrison pursuant to the Small Estate Affidavit filed in Jackson County Circuit Court on
January 31,2006. Ms. Richhart has agreed to transfer Debra's home and leasehold
interest in the Property to the New Obligor in exchange for their assumption of all of the
Estate's present or future obligations and liabilities arising out of or related to the home
and the Property.
By an Assignment and Assumption of Land Lease, Mutual Self-Help Agreements,
Release, and Consent of Land Owner ("Assignment") and a Bargain and Sale Deed
executed at the same time of this Agreement, Borrower and New Obligor have agreed to
transfer all of Borrower's Estate's interest, rights, and liabilities arising from or related to
RVCDC's 2001 Siskiyou Mutual Self-Help project and Borrower's Estate's home and
leasehold interest in the Property to New Obligor in exchange for their assumption of all
obligations and liability arising from or related to the project and the Property and
RVCDC's general release and indemnification for all claims related to them.
The parties agree that the consideration for this Agreement is New Obligor's
assumption of all obligations and liabilities arising from and related to SDC Loan
Documents.
The New Obligor has reviewed the SDC Loan Documents and is willing to
assume Debra Lynn Harrison's obligations in exchange for deferral of the SDC fees. The
New Obligor has submitted financial information to the City of Ashland required by
section 4.2 of the City of Ashland Affordable Housing Resale Restriction Covenant, and
the City has found that information, if true, would make the transfer of Debra Lynn
Harrison's home a Qualified Transfer. On the basis of that information being true and
correct, the City is prepared to permit the transfer.
This Agreement is being executed to evidence and confirm the terms for the
City's consent to the transfer of the Project and Property and SDC Loan Documents to
New Obligor, pursuant to the terms set forth in this Agreement.
NOW, THERFORE, Borrower and New Obligor hereby agree with the City as follows:
1. Borrower is conveying its interest in the Project and Property to New Obligor,
pursuant to the terms of an Assignment, Deed, and the related documentation
referenced above. The City hereby approves of the transfer pursuant to such
documents on the condition of the truth and accuracy of the information submitted
by New Obligor.
Page 2 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
~7
...,--
New Obligor hereby unconditionally assumes all obligations of Borrower to the
City under the SDC Loan Documents, including the obligation to make all
payments and to perform all obligations thereunder. New Obligor also hereby
unconditionally assumes the obligation to perform all obligations herein. Nothing
in this Agreement or in the SDC Loan Documents shall be construed as restricting
or impairing any right of the City to resort to, proceed against, or otherwise
exercise its rights with respect to any security interest in the Property in
accordance with the rights granted to the City by this Agreement and by the SDC
Loan Documents. New Obligor will execute and deliver to the City such
documents reasonably requested by the City to effect and maintain its security
interest in the Property.
The City hereby consents to and approves of the transfer to New Obligor and New
Obligor's assumption of Borrower's obligations under the SDC Loan Documents
without affecting in any manner the restrictions and requirements of the SDC
Loan Documents with respect to any further or additional transfer. This consent
and approval by the City is conditioned, however, upon prior execution and
recording of subordination agreements acceptable to the City by any and all
current lienholders with respect to the Property except USDA Rural
Development.
Borrower also hereby consents to this assumption by New Obligor.
2. Transfer and assumption of obligations will take effect when 1) a Bargain and
Sale Deed from the Estate of Debra Lynn Harrison to New Obligor, 2) the
Assignment, and 3) this Agreement are fully executed and recorded in the real
estate records of Jackson County, Oregon effecting the transfer of vesting from
Borrower to New Obligor.
3. Borrower expressly disclaims any representation or warranty with respect to the
Project and Property, the SDC Loan Documents, or the Land Lease and
Assignment, express or implied.
4. New Obligor will defend and indemnify Borrower from and against any and all
claims, actions, proceedings, damages, liabilities, and expenses of every kind,
whether known or unknown, including but not limited to reasonable attorney's
fees, resulting from or arising out of the Project and Property or the SDC Loan
Documents or this Agreement.
5. City releases Borrower from and against any and all claims, actions, proceedings,
damages, liabilities, and expenses of every kind, whether known or unknown,
resulting from or arising out of the Project and Property, the SDC Loan
Documents, and this Agreement.
Page 3 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
~~
-,- ~
6. The Agreement of the parties incorporates the recitals and may be signed in
counterpart .
IN WITNESS WHEREOF, this instrument has been duly executed as ofthe date and year
first above written.
CITY:
The City of Ashland, Oregon, a municipal
corporation acting by and through its
AFFORDABLE HOUSING PROGRAM
/)
,t )
c/vK~
y: Brandon Goldm , Housing Program
Specialist, Departm nt of Community Development
Approved as to form:
~L,v. v.L-~
[Assistant] City Attorney
Date: 7_ /,1' / 0 ~")
, ,
STATE OF OREGON )
): ss
Countyof~ )
~
The foregoing instrument was acknowledged before me this J'l.;,;' day of
J;~ ' 2006, by Brandon Goldman, on behalf of the City of Ashland,
Oregon.
_OFFICIAL SEAL
B. BOSWELL
NOTARY PUBLlC-QREGON
COMMISSION NO. 391525
MY COMMISSION EXPIRES APR. 07, 2009
~
NOTARY PUBLIC FOR OREGON
My Commission Expires: '1-'7- D q
NEW OBLIGOR:
GLORIA HERRERA
WILLIAM RENE SEGOVIA MARTINEZ
Page 4 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
* q
STATE OF OREGON )
): ss
County of )
The foregoing instrument was acknowledged before me this _ day of
, 2006 by Gloria Herrera.
NOTARY PUBLIC FOR OREGON
My Commission Expires:
STATE OF OREGON )
): ss
County of )
The foregoing instrument was acknowledged before me this _ day of
, 2006 by William Rene Segovia Martinez.
NOTARY PUBLIC FOR OREGON
My Commission Expires:
BORROWER:
~/j~:i-
Rosaleen Richhart as Affiant and Claiming
Successor to the Estate of Debra Lynn Harrison
STATE OF MISSOURI)
): ss
CITY OF ST. LOUIS )
The forrg instrument was acknowledged before me this 0 ~ day of
fY)CtI'~ , 2006, by Rosaleen Richhart, as Affiant and Claiming Successor
to the Estate of Debra Lynn Harrison on behalf of said Estate.
JACOB METHENY
Nolary Public - Nolary Seal
State of Missouri
Sl Louis County
My Commission Expires Jan. 25 2009
Commission # 05658529 '
ARY PUBLIC FO
y Commission Expires:
Page 5 of 5 - City of Ashland Affordable Housing SDC Deferral Program
Assumption of Note and Trust Deed and Consent Agreement 21006
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