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HomeMy WebLinkAbout1986-065 Trust Deed - Schaffer FORM ~~;:~re~1!~ted Series-TRUST D~ ctt' SC-08S16 o cr- ~..d;.CJ;, ~() ~\~ 5c. '<c.- '6~D ~ C1.- ~NS-NESS LAW PUBLISHI,NG CO.. PORTLAND, OR. 9720",", ( ~ \) \()() (:\Co \() \ THIS TRUST DEED, mad~ this --.....!.Q.th..___..___..day of ........____~~~.~.h.._______________....__..__.._.., - - - - - -- -. -- --- - -.- - - - -. - - - - -- - .AIl_dr .ea_ _ _S.c_ha_ff.e r_ _ _ _ ___._. _ __ __ _ _ __ __.. __ _ _ _. __ _ _.. _. __ _. ..._ __ _. _ _ _ _ _. _ _ _ _ ._._ _ _._ _ _ _ _ _. __ _... __. _ _ _ __ __ _ _ __ _ _ _ _ __ __ _ _ ___ _ _ _ __ _ _._ __ _. ._'__ _. _. __ _ _ __. _ __ ___ of. _ TRUST DEED -<bOG -- .a.oO 19 .__~.~___, between ~~-G-;~~-t~;:-:::Q:~:~:t~i:::~ift:~::::!!i:~~i~~~:~::::Q:Qmp.~D.y.=::::~:n:::9.i.~g9:ii:::~Qi.P'Qi.~tIQ:ii::~--~~"T~~~t~~"~~d ::::::::::: :::::::::::::: Q: i: t Y::::9. f:: ~~: h 1: ~:Q fC::::::::::::::::::::::::::::::::::: ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: :::: as Beneficiary, RERECORf>ED TO ADD LEGAL WITNESSETH: Grantor irrevOCitbly,rlU1ts, bargaina, sells and connys to trustee in tlU8t, with power 01 sale, the Pl9jMiII~ in .....J_a.c.k..~.Qn.......__.....__..__.......__..County, OrelcJn, deacribed .s: 86-08743 Rerecord to add legal This instnHnent filed for record as an accornodation oniy, It has not becrl examined as to its execution or as to its effect upon the fltle. Crater -ntle Insurance Co. to~ether with all and singular the tenements, hereditaments and appurtenances and all other ri~hts thereunto belon~in~ 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 ~rantor herein contained and payment of the sum of. - - - - - - - F-D ur - - - -Tho-usa nd - -- Ri ght- -- -Hundr-ed -- -and-- --oo-I-l-O-O ------ -- - -- - - - - - -_ - - - - -- - - - -__ - - - -- - - - - - -_ ____ - __ - __ _ ___ - _ _ __ _ __ _ __00_ _ __ ____ __ _ _ __ _ _ _ _ _ _ _ __ _ _ _ _ __ -00--------. .___ ouh_m_u_ouh___m_______________hhn____unh___m__U____________u__uDolIars, with interest thereon accordin~ to the terms of a promissory note of even date herewith, payable to beneficiary or order and made I by ~rantor, the final payment of principal and interest hereof, if not sooner paid, to be due and payable -_Up_OD____s_alen__oru__t_r.ans_f_er_, 19___.___m____. 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 ~rantor without first havin~ obtained the written consent or approval of the beneficiary, then, at the beneficiary's option, all ob1i~ations 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 currently used for agricultural, timber or grazing purposes. To protect the security of this trust deed, grantor a~rees: 1. To protect, preserve and maintain said property in good condition and repair,' not to remove or demolish any bui1din~ or improvement thereon; not to commit or permit any waste 01 said property. 2. To complete or restore promptly and in ~d and workmanlike manner any bui1din~ or improvement which may be constructed, dama~ed or destroyed thereon, and pay when due all costs incurred therelor. 3. To comply with all laws, ordinances, re~ulations, covenants, condi- tions and restrictions allectin~ said property; il the beneliciary so requests, to iqin in executin~ such linancin~ statements pursuant to the Unilorm Commer- cial Code as the beneliciary may require.- and to pay lor lilin~ same in the proper public ollice or ollices, as well as the cost 01 all lien searches made by lilin~ ollicers or searchinA a~encies as may be deemed desirable by the ~eneliciary . . 4. To provide and continuously maintain insurance on the buildin~s now or hereafter erected. on the said premises aAainst loss or dama~e by lire' and such other hazards as the be~liciar~ may Irom time to time require, in an amount not less than $.4----3 .-O-.--U-O--u----------u----uu---------u., written in companies acceptable to the i>ene lclary, wlth loss payable to the latter,' all policies 01 insurance shall be delivered to the beneliciary as soon as insured; il the ~rantor shall lail lor any reason to procure any such insurance and to deliver said policies to the beneliciary at least lifteen days prior to the expira- tion 01 any policy 01 insurance now or hereafter placed on said buildin~s, the beneliciary may procure the same at ~rantor's expense. The amount thcollected under any lire or other insurance policy may be applied by beneli- ~~l:iary upon any indebtedness secured hereby and in . such order as beneliciary /nay determine, or at option 01 beneliciary the entire amount so collected, or any part thereol, may be released to ~rantor. Such application or release shall 'not cure or waive any delault or notice 01 delault hereunder or invalidate any act done pursuant to such notice. 5. To keep said premises Iree Irom construction l~ens and to pay all taxes, assessments and other char~es that may be levied or assessed upon or a~ainst said property belore any part 01 such taxes, assessments and othe,. char~es become past due or delinquent and promptly deliver receipts therelo,. to beneliciary,' should the ~rantor lail to make payment 01 any taxes, assess- ments, insurance premiums, liens or other char~es payable by ~rantor, either by direct payment or by providin~ beneliciary with lunds with which to make such payment, beneliciary may, at its option, make payment thereol, and the amount so paid, with interest at the rate set lorth in the note secured hereby, to~ether with the obli~ations described in paraAraphs 6 and 7 01 th!s trust deed, shall be added to and become a part 01 the debt secured by thls trust deed, without waiver 01 any rights arisinA Irom breach 01 any 01 the covenants hereol and lor such payments, wth interest as aloresaid, the prop- erty hereinbelore described, as well as the ~rantor, shall be bound to the same extent that they are bound for the payment 01 the obliAation herein described, and all such payments shall be immediately d,ue and payable. ,!ith- out notice and the nonpayment thereol shall, at the optlOn 01 the benellclary, render all' sums secured by this trust deed immediately due and payable and constitute a breach 01 this trust deed. 6. To pay all costs, lees and expenses 01 this trust includinA the cost 01 title search as well as the other costs and expenses 01 the trustee incurred in connection with or in enlorcin~ this obli~ation and trustee's and attorney's lees actually incurred. . 7. To appear in and delend any action or proceedinA purportinA to allect the security riAhts or powers 01 beneliciary or trustee; and in any suit, action or proceedin~ in which the beneliciary or trustee may appear, includin~ any suit lor the loreclosure 01 this deed, to pay all costs and expenses, in- cluding evidence 01 title and the beneliciary's or trustee's attorney's lees,' the amount 01 attorney's lees mentioned in this paragraph 7 in all cases shall be lixed by the trial court and in the event 01 an appeal Irom any judgment or decree 01 the trial court, Arantor further agrees to pay such sum as the ap- pellate court shall adjudAe reasonable as the beneliciary'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 all 01 said property shall be taken under the right of eminent domain or condemnation, beneficiary shall have the ri~ht if it so elects, to require that all or any portion 01 the monies payable as c~mpensation lor such takin~, which are in excess of the amount required to pay all reasonable. costs, expenses .and attorney's fe~s necessaril.y. paid or incurred by ~rantor ln such proceedlngs, shall be pald to benellclary and applied by it lirst upon any reasonable costs and expenses and attorney's lees, both in the' trial and appellate courts, necessarily paid or incurred by bene- liciary in such proceedin~s, and the balance applied upon the indebtedness secured hereby; and ~rantor agrees, at its own expense, to take such actions and execute such instruments as shall be necessary in obtaining such com- pensation, promptly upon beneliciary's request. 9. A t any time and Irom time to time upon written request 01 bene- liciary, payment 01 its lees and presentation 01 this deed and the. note lor endorsement (in case 01 lull reconveyances, lor cancellation), without allectinA the liability 01 any person for the payment 01 the indebtedness, trustee may (a) consent to the makin~ 01 any map or plat 01 said property,' (b) join in Arantin~ any easement or creatin~ any restriction thereon,' (c) join in any subordination or other agreement allecting this deed or the lien or charge thereol; (d) reconvey, without warranty, all or any part 01 the property. The Arantee in any reconveyance may be described as the "person or persons legally entitled thereto," and the recitals therein 01 any matters or lacts shall be conclusive prool 011 the truthlulness thereol. Trustee's lees for any of the services mentioned in this para~raph shall be not less than $5. 10. Upon any delault by ~rantor 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 re~ard to the adequacy of any security lor the indebtedness hereby secured, enter upon and take possession 01 said prop- erty or any part theteol, in its own name sue or otherwise collect the rents, issues and profits, includin~ those past due and unpaid, and apply the same, less costs and expensE!s of operation and collection, includin~ reasonable attor- ney's lees upon any ~ndebtedness secured hereby, and in such order as bene- liciary may determine. 11. The entering upon and taking possession 01 said property, the collection of such rents, issues and profits, or the proceeds of lire and other insurance policies or compensation or awards lor any takin~ or dama~e 01 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 deflfiult by Arantor in payment of any indebtedness secured hereby or in his performance of any aAreement hereunder, the beneliciary may declare all sums seqJred 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 loreclose this trust deed by advertisement and sale. In the latter event the beneliciary 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 satisly the obliAation secured hereby. whereupon the trustee shall lix the time and place of sale, Aive notice thereol as then required by law and proceed to loreclose this trust deed in the manner provided in ORS 86.735 to 86.795. 13. Alter the trustee.hasc.PgJmenc.M-....~by "advertisement and sale, alVl,..tany' tirn~'~prlo"t . to' 5 days before the date the trfJstee conducts the sale, tlte Arantor or ~ny .other person so privileAed by ORS '86.753, may cure the delhult or delau:ts. II the delault consists 01 a lailure to pay, when due, sums secured by thE! trust deee/., tile del~ult., may (be ,cured by paying the entire amount due a~ the. time 01 the cure'. citber 'him stich. portion as would not then be due' had nO default.. occurred.... Any other delault'that is capable of bein~ Oured may be curet!. by tendering "the performance required under the obliAation or trust deed. In any case, in addition to curi~ the default or delaults, the person ellecting the cure shall pay to the beneficiary all costs and expenses actually incurred in enforcinA the obli~ation 01 the trust deed togetheE with trustee' s an~. atto~ne~' s 1.~es,.;~!K'~ ...~xc;.~~gin, the _mounts provided by law. .'. .... ...'.t',. ..'ij: .....'~....~ .,..- "'" .".'. 14. Otherwise, the sale shall be held on the date and at the time and place desiAnated in the notice 01 sale or the time to which said sale may be postponed as provided by law. The trustee may sell said property either in one parcel or in . separate parcels and shall sell the pIU~1 or parcels at auction to the highest bidder lor cash, payable at the tlme of sale. Trustee shall deliver to the purchaser its deed in lorm as required by law conveyinA th~ property ~ so~d; but without any covenant or warranty, express or im- pIled. The recltals In' the deed of any matters of fact shall be conclusive proof of the truthlulness thereol. Any person, excluding the trustee, but including the grantor and ben~liciary, 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 01 sale in- cludin~ the compensation of the trustee and a reasonable charge by tru';tee's attorney, (2) to the obligation secured by the trust deed, (3) to all persons havinA recorded liens subsequent to the interest 01 the trustee in the trust deed as their interes~s may appear in the order 01 their priority and (4) the surplus, il any, to tile Arantor or to his successor in interest entitled to' such surplus. I 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 all title, powers and duties con/erred upon any trustee her~in named or appointed hereunder. Each such appointment an~ substitution shall b~ made by written instrument executed by beneliciary, whlch, when recorded ln the mortAaAe records 01 the county or counties in which the property iSI situated, shall be conclusive prool 01 proper appointment 01 the successor trustee. 17. Trustee accepts this trust when this deed, duly executed and acknowledAed is made a public record as provided by law. Trustee is not obligated to notify atly party hereto 01 pendinA sale under any other deed 01 trust or 01 any action or proceeding in which grantor, beneliciary or trustee shall be a party unless such action or proceeding is brouAht 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 Oregcm or the United States a title insurance company authorized to insure title to real property of this state, its subsidiaries, affiliates, agents or branches, the United States or any agency thereoi, or an escrow agent licensed under ORS 696.505 to 696.585. II ~ti-OB743 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 and that he will warrant and forever defend the same against all persons whomsoever. The ,rantor warrants that the proceeds of the loan repreaented. by the above d.aaibed note and this trust deed are: (a>* primarily for ..grantor's pertional,' family, houllehoId or ._ricultural ~r~ (_ Important Notice below), OOC}ftt}lll>>il~X<<_HMIc"a=K18J1OO11.IIkJmRnlJUl}fOt~~~Jft.Hif8iK1WlMmvrX1 ~K This deed applie~ to, inures to the benefit of and binds all parties her.eto, their heira, le~atees, devisees, administrators, e.xecu- tor., perSonal representative8, successors and assi~ns. The term beneficiary shall mean the holder and owner, includi~ pled,., of the contractaecuced hereby, whether or not named as a beneficiary herein. In ~nstruinl this deed and whenever the contezt so requires, the ma~line,.nd.er. itJc1udes' the. feminine and the neuter, and the sin~ul~r number inclutles the plural. IN WITNESS'WHEREOF, said srantorhas hereunto set his hand the day and year first above written. ~----~-- - · lM~rrANT NOTICE: Dele.., by lining out, whlche.,., warranty (a) or (b) I. not .'.NIt.'e; If wal'l'aftty (a) I. apphcable and the beneficiary I. a eNd'tor a. sU~h\'WOrc! 'I. ct.f(n~, In the Truth-In-Lending Act and Regulation I, the beneflclaiy MUST'-~oniply with the Ad and Regulation by making required dIKlolure.;' 'for,thl. purpo.., If thll in.trument I. to be a FIRST lien to finance the purchase of a elwelling, use s~ven.-Ne.. Form No. 1305 or equivalent; If thll In.trument I. NOT to be a flnt lien, or i. not to finance the purcha.e .~f a dwelling use S"ven.-Ne.. Form No. 1306, or equivalent. If compliance with the Act I. not required, di.....ard thl. notice. (If the signer of the above is a corporation, UN the form of acknowledilment opposite.) STATE OF OREGON, ) " . Jackson )ss. County of u_n_ _ _ _____uuu__ __U_nn___ ___ 00_ _00 ______ _ _ __) _uu____Ma_rc_hu__l_O_umn_u____ __00___ _ _ ____000' 19_8_6___ _ _. Personally appeared the above named__________________um_ "' --- - - - - _An_dr_e_a_ _ _ _S'chaf_fer _ ______ 00 _u _ _ _ _ u _ ______ ___ __ _ 00 _ _ ___ _ ___ -----_u__oo____________u____and acknowled~ed the foregoin~ instru- ment to be________he_ru____u________ -voluntarx. act and deed. Before ) (OFFICIAL SEAL) My commission expires: 12/27 /87 " ,._-~................,..... -- - -- - - --- - u ---- - u..-JANE "&AVlS-u - - ...-.............. NOTARY PUBLIC - OREGON M''1 Commissior) Expires STATE OF OREGON, County of-----_______u_uu__u_______u_u_uuu______uu__uu__) 88. - - -- - ----- - --- - 00 00- ___ u_ _ __ _ _n____ ___ ____ __~_ _ ____ _ u _ _ __ _ _, 19__ __ 00 ______00__. Personally appeared - - - -00-- __ 0000-- 00 _ __ -__0000 00__00 00 _ _ 00 _00 _ 00 __ ___00 _ _ _u_ _ __00_ n __ _ 00 _ _ _ _ _ _and - ---- - - ------ --------------00------------------- - ____ ___ ___ -_______h___________u __________00__ who, eacIJ. bei~ first duly sworn, did say that the former is the-u-_oou________________oou___oo____u__uu___uoou_____ president and that the l.tter is theu-------m___u___oo_n_______UU_n_h_U_UooU__________________ secretary of --------- ------ -- ____ _~__ __ 00 ______ _ _ u __ __ 00 _ ___ __ _ _ __ _______________ u 00 _ 00 ______________ __ __00 _ __ _ _ _ _ _ _ __ _ ___ - - --- --- -- - - - -- ------- - --- - -- - -- 00 _ _ _ _ _ __ _ _ 00 _ ___ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ __ _ _ _ _ _ _ _ _ _ u _ _ _ _ ___ _ _ _ _ __ _ _ _ ___ _ _ _ _____ _________ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ __, a corporation, and that tile seal affixed to the foregoin~ instrument is the corporate seal of said corporation and that the instrument was signed and sealed in behalf of said corporation by authority of its board of directors; and each of them acknowledged said instrument to be its voluntary act and deed. Before me: My commission expires: Notary Public for Ore~on REQUEST FOR FULL RECONVEYANCE Te be uHcI only wh.n obligations hay. been paid. TO: ___U__h~_______ __ - - - -____00_____00 __ 00__ __ 00_____00_______00__00___ ________________00_____________, Trustee (OFFICIAL SEAL)' The undersi~ned is the le~al owner and holder of all indebtedness secured by the f6re~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 owin~ to you under the terms of said trust deed or pursuant to statute, to cancel all evidences 01 indebtedness secured, by said trust deed (which are delivered to you herewith to.,ther 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 byfyou under the same. Mail reconveyance and documents to -------------00------------00---00------_________00________________00___00________________________________. D AT ED: - - - - - - .. - - - - - - __ - _ - _ _ - - _ _ _ _.__ _ __ _ _ 00 _ _ _ __ _ _ _ __ _ __ _ 00 _ _ __ _ _ _ __ _ _ __ _ "' 00 00 _ ., 19 __ __ __ _ _ _ _ _ _ . - --.... - ----.. - ---.. - - -...... - ------.. -----------..----- --- ...----------...------------- -... -..-.. ....---... ----- -.. --_...... --- ------ -- ---- -... ..----........ ---... -----------...--... -... ---------------- ....-----------------..-.......-.... ......-..-.. -.. ....----- -- - ..--- - ---- --- - -.. --- -- - ~-- -- - - -- - - - -..- --...- Beneliciary D. not I.s. or d.strey thil Trult Deed OR THE NOTE which it lecur.l. loth mUlt b. deliv.r.d to the trus... for cancellation before reconv.yanc. will b. made. T&UST DEED (FORM No. 111>> STEVENS-NESS LAW PUB. co., PORTL.AND. ORE. Grantor Beneficiary AFTER RECORDING RETURN TO 1>;, t':, ~. -. .; .~ ~ : ,. II ~. ~ " i: ~ n l"1 l~ .- m91 en 8= ; as: .... II ~.I: ~.,8 ~~ 0: 2~ ~tj ~~i ! . - - - "'--'" ~ ~~" J\L., By . .~.:~== .................. ___.;;... __....~. ~.-.,. .~...,' ,.J - ummt .....y 9........, oonW ...... CJII inetru- ............, raty. tMl 01 TfTL. Deputy TRACT A: Beginning at a point 132.0 feet North and 277.6 feet East of the Southwest cornel". of Donation Land Claim No. 40 in Township 39 Sou th, Range 1 East of .the Wi11amette Meridian in Jackson County, Oregon; thence East 43.0 feet; thence South 690 54' East 52.73 feet; thence North 220 00' East 56.90 feet; thence North 700 48' West 75.01 feet, to a point 191.3 feet North and 320.6 feet East of the Southwest corner of. said Donation Land Claim No. 40; thence North 26.1 feet; thence North 450 00' West 14.14 feet; thence West 33.0 feet; thence South 95.4 feet to the point of beginning. TRACT .B: Beginning at a point 132.0 feet North and 257.6 feet East of the Southwest corner of Donation Land Claim No. 40 in Township 39 South, Range 1 East of the Willamette Meridian in Jackson County, Oregon; thence North 238.3 feet to the South line of Nutley Street in the City o'f Ashland, Oregon; thence East along said street line, 20.0 feet; thence South 238.3 feet; thence West' 20.0 feet to the point of beg inn ing . .---. PROMISSORY NOTE Borrower's Name Andrea Schaffer Loan No~ 276 HD-M Property Address ll2~ Nutley, Ashland Loan Amount $4,800.00 Date 3/l0i86 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 s~ccessors, the sum of ($4.800.00 Four Thousand Eight Hundred ~nd no/IOO 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 tbe 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 survivin'g 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. ~~ _/d'(1~#~~ Signature '}uMd ItJl )6 / Date Signature Date II