HomeMy WebLinkAbout1985-081 Trust Deed - Robertson aka Kroman
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,-NESS LAW PUBLISHING CO" PORTLAND, OR, 97204
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TRUST DEED
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THIS TRUST DEED, made this -..---.??~.~.h....u...day of ..--u.--u.u.Q_~.t.g9,~,~,,,u__'hmu.___....., 19__~_~..., between
..................... h... .Ka.y.e. ._B ...... RO.her.t so n.....a ka.. Kay.e.. B. #,.. Kroman........... __.. h.......... __...................... h....................... _.. h......,
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as Grantor, -.h-M.Q.\.uxtfl,..t_D.. ..r;r.i.tJ_~...~Qmpg..D.Yh"'"'''' ..._..... mh____. h..... ...__....... u ..h..__h........ .h.....h__mh......, as Trustee, and
- - - - - - . - - - - - - . -. - - - ~ - - - - . - - - - - - . - - - . - . - - - - . - - - - ~ - . - - - - . - - - . . - - _ - ~ _ . . _ _ M _ .. _ _ _ _ _ _ _ . . _ _. _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ ~
....... h.... h............ C.i.t.y.. - Q.f.. .As.b.l.a.o.o..... --""""" h.... .._......... _........ "'_' ..00__. .____. __ __.....__ __..... h........ __...... ._...... __.. h....._....
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as Beneficiary,
WITNESSETH:
Grantor irrevocably grants, bargains, sells and conveys to trustee In trust, with power of sale, the property
In h-..--...J".Q..Q)S.$..QIL.____h.mm._....u..County, Oregon, described as:
Lot 27, HIGHLAND PARK TRACT, in the City of Ashland, Jackson County, Oregon.
ALSO, a strip of land 10 feet in width along and adjacent to the Northeasterly line of said Lot 27, being a
portion of vacated Auburn Street, from the Easterly line of Union Street to the North line of Iowa Street, in
the City of Ashland, Oregon, vacated by Ordinance No. 556 of the City of Ashland, record notice of which
appears in Volume 223, Page 409, Jackson County, Oregon, Deed Records.
ALSO, the West half of Union Street, along and adjacent to the East line of said Lot 27, vacated by Ordinance
No. 2271 of the City of Ashland, Oregon, record notice of which appears in Instrument No. 83-15690, Official
Records of Jackson County, Oregon.
together with all and singular the tenements, hereditaments and appurtenances and all other rights thereunto belonging or in anywise
now or hereafter appertaining, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connec-
tion with said real estate.
FOR THE PURPOSE OF SECURING
Three. Thousand
sum of
PERFORMANCE of each agreement of grantor herein contained and payment of the
...E.ive. ..Hundred..Eig.ht.y::-:Nin.e.. .and. no/lnO...
....Dollars, with interest thereon according to the terms of a promissory
note of even date herewith, payable to beneficiary or order and made by grantor, the final payment of principal and interest hereof, if
not sooner paid, to be due and payable .upon .$a.l.~. .QX .tI"'Cln$J~x, 19.
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,. eonveyed, assig,ned 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.
The above described real property is not curtently used for agricultural, timber or grazing purposes.
To protect the security of this trust deed, grantor agrees:
1, To protect, preserve and maintain said property in good 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 good and workmanlike
manner any .qy,ilri.i{lg... pr irnproveme1J! 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, condi-
tions and restrictions affecting said property; if the beneficiary so requests, to
join in executing such financing statements pursuant to the Uniform Commer-
cial 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 said premises against loss or damage by fire
and such other hazards as th~ beneficiary /[lAY from time to time require, in
an amount not less than $H'" H..5 8.9....uu...........HH............H' written in
companies acceptable to the eJ..eficlary, 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 said policies to the beneficiary at least fifteen days prior to the expira-
tion of any policy of insurance now or hereafter placed on said 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 benefi-
ciary 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 said premises free from construction I'-ens and to pay all
taxes, assessments and other charges that may be levied or assessed upon or
against said 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, assess-
ments, 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,
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 of th!s
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, wth interest as aforesaid, the prop-
erty 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 d.ue and payable. ";'ith-
out notice, and the nonpayment thereof shall, at the optIOn of the benef1clary,
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 ~he 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 proceedmg purportmg 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, to pay all costs and expenses, in-
cluding evidence of title and t~e bent;ficiaIY's or trustee's. attorney's fees; the
amount of attorney's fees mentIOned m thIS paragraph 7 m all ca.ses 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 as the ap-
pellate court shall adjudge reasonable as the beneficiary's or trustee's attor-
ney's fees on such appeal.
I t is mutually agreed that:
8, In the event that any portion or all of said property shall be taken
under the right of eminent domain or condemnation, beneficiary shall have the
right, if it so elects, to require that ';Ill or aI?Y portion of the monies pay~ble
as compensation for such taking, whIch are m excess of the amount reqUIred
to pay all reasonable. costs, expenses ,and attorney's fe~s necessaril,y, paid or
incurred by grantor m such proceedmgs, shall be paId to benef1clary 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 applied upon the indebtedness
secured hereby; and grantor agrees, at its own expen~e, to t~k~ such actions
and execute such instruments as shall be necessary m obtammg 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 d.eed am! the note tor
endorsement (in case of full reconveyances, for cancellatIOn), WIthout affectmg
the liability of any person for the payment of 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 man}'
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 there'n 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 ap-
pointed by a court, and without regard to the adequacy of any security for
the indebtedness hereby secured, enter upon and take possession of said prop-
erty 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 attor-
ney's fees upon any indebtedness secured hereby, and in such order as bene-
ficiary may determine.
11. The entering upon and taking possession of said 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 his performance of any agreement hereunder, the beneficiary may
declare all sums secured hereby immediately due and payable. In such an
event the beneficiary at his election may proceed to foreclose this trust deed
in equity as a mortgage or direct the trustee to foreclose this trust deed by
advertisement and sale. In the latter event the beneficiary or the trustee shall
execute and cause to be recorded his written notice of default and his election
to sell the said described real 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 defau:ts. 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 said sale may
be postponed as provided by law. The trustee may sell said property either
in o!le parcel or. in sep~rate 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 purchase.r its deed in form as required by law conveying
th~ property ~o so~d, but wIthout any covenant or warranty, express or im-
plIed. The reCItals m the deed of any matters of fact shall be conclusive proof
of the truthfulness th~r.eof, Any person, excluding the trustee, but including
the grantor and benef1cIary, 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 in-
cluding the compensation 01 the trustee and a reasonable charge by trus'tee'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, il any, to the grantor or to his successor in interest entitled to such
surplus,
16. Beneliciary may lrom 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 all title, powers and duties conferred
upon any trustee herein named or appointed hereunder. Each such appointment
an~ substitution shall b,e made by written instrument executed by beneficiary,
whIch, when recorded m the mortgage records 01 the county or counties in
which the property is situated, shall be conclusive proof of 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 notily 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,
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 do business under the laws .of Oregon or the United States, a title insurance company authorized to insure title to reol
property of this state, its subsidiaries, affi liates, agents or branches, the United States or any agency thereof, or an escrow agent licensed under ORS 696.505 to 696,585,
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60110"'99
PROMISSORY NOTE
Borrower's Name
Kaye Kroman
Loan No. 107 HD-M
Property Address
518 Auburn, Ashland
Loan Amount~3,589.00
Date
10-22-85
Ashland, Oregon
FOR VALUE RECEIVED pursuant to a Deferred Payment Loan from the City
of Ashland, the undersigned jointly and severally promise(s) to pay
to the order of the City of Ashland, a political subdivision of the
State of Oregon, or it's successors, the sum of ($3,589.00
Three Thousand Five Hundred Eighty-Nine and no/lOa dollars.
THIS NOTE shall become due and payable upon any actual or attempted
transfer, voluntary or involuntary, including by operation of law or
death of the undersigned, of any interest in that certain real pro-
perty identified and described in the Trust Deed securing this indebt-
edness. When death of the undersigned causes transfer of the property
to a surviving spouse, the above previous shall not apply and the
rights and responsibilities of this Note shall transfer with the pro-
perty to the surviving spouse. Said payment shall be made in lawful
money of the United States of America at the office of the Ashland
Housing Rehabilitation Program, Ashland, Oregon, or at such other
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 single 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, including reasonable attorney's fees and
court costs at trial and on appeal.
IN WITNESS WHEREOF, THIS NOTE AND TRUST DEED SECURING THE NOTE, HAVE
BEEN DULY EXECUTED BY THE UNDERSIGNED, AS OF THE DATE BELOW WRITTEN.
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