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HomeMy WebLinkAbout1985-083 Trust Deed - Susich aka Iverson FORM No. 881-oregon Trust'Deed Seri_TRUST ~ ID ) " --- c:r.. S99 '7D ~ TRUST DEED oc 86-00675-. 8.tJD ~ '~ENS.NESS LAW PUBLISHING CO.. PORTLAND. OR. 97204 ~ ,DO ~5~ 31-lc-CfC~ ( 3800 ) THIS TRUST DEED, made this uu.--~P.t.h...__..__u.day of uu...--.--I;?~~~~!:?~.~...u__uu..__..u..__., 19u~.~u., between .... _u - - --... -.. - - - _.u R ~ :tJ~\. ..6...e.SJJS i ch. ..whQ. - u9.Q.<;rui;J;.e_Q._u .t.i_t.l~u. as_ u.R.u.tb... B.t....L Ye.r .5.Q D_..... _ _ _ u. _ _u.. _ uu.. .u... __... u.. ...... -.. ................. ............. - .... -... -...... -........ -... -.. -... -. -- - - - - -... - -.........-. -.-... ..... ...... .................. ... -... ..... - ...... -...... ..... ..-.-.. -. -- - - -.-. - - .... ..- - -... -....-. -.-.. -.., as Grantor, ..Cr.at-er--uTit.leu-I.ns_ur.ance...C.o.mp.an~.,.u.an__.O.r.e.9QD.uCO.r.p.Q.r.a.t.iQn.., as Trustee, and :::::::::::::::::::::::::::::: c: iii.:::9:(: i. ~ h i ~ ii:~::::::::::::::::::::::::::::::::: :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: : as Beneficiary, WITNESSETH: Grantor irrevocably grants, bargains, sells and conveys to trustee in trust, with pow.e.r of sale, the property in .-----..JaC.KS.Q.O..--__-.______u__..________.County, Oregon, described as: Lot 47 of HIGHLAND PARK ADDITION, in the City of Ashland, Jackson County, Oregon. together with all and singular the tenements, hereditaments and appurtenances and all other ri~hts thereunto belon~in~ or in anywise now or hereafter appertainin~, 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.o u_r_ - - _ThQ_U ~ _artd_ _ _ _ E_i 9-h t __ _Jl YJJJl~_~g_ ___g_n g_ __ _P9_1__l_Q_ Q __ _ _ _ _ ___ _ _ _ _ _. _ _ _ _ _ _ _ _ _ _ __ _ _ _ ___ _ _ _ m ___ _ _ __ _ _ __ ___ _ _ _ __ _u_ u __ _ _ ____ _. __ _ _ _ _ _ _ _ _ _ __ _ __ _ _ ___ _n_n___m_n__ -nu---------n-----nun-_____hn_________________m______uDol1ars, with interest thereon accordin~ to the terms of a promissory note of even date herewith, payable to beneficiary or order and made by ~rantor, the final payment of principal and interest hereof, if not sooner paid, to be due and payable --upo.n----s-a_l_e____Qr____tr_a_o.s__f.e_r_, 19m_ __n______. 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, a~reed 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 agrees: 1. To protect, preserve and mainta,in said property in Rood condition and repair; not to remove or demolish any buildin~ or improvement thereon; not to commit or permit any waste 01 said property. 2. To complete or restore promptly and in Rood and workmanlike manner any builqing or improvement which may be constructed, damaged or destroyed thereon, and pay when due all costs incurred therelor. 3. To comply with all laws, ordinances, regulations, covenants, condi- tions and restrictions allecting said property; if the beneliciary so requests, to join in executing 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 of all lien searches made by liling ollicers or searching agencies as may be deemed desirable by the beneliciary. 4. To provide and continuously maintain insurance on the buildin~s now or herealter erected on the said premises a~ainst loss or damage by lire and such other hazards as th*;. be9f~Mry /fiN' Irom time to time require, in an amount not less than $-----~--,--O-U-U-.--U-U---------------u---------------_, written in companies acceptable to the beneficiary, with 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 lilteen days prior to the expira- tion 01 any policy of insurance now or herealter placed on said buildings, the beneficiary may procure the same at ~rantor' s expense. The amount collected under any lire or other insurance policy may be applied by beneli- ciary upon any indebtedness secured hereby and in . such order as beneliciary may determine, or at option 01 beneliciary the entire amount so collected, or any part thereol, may be released to grantor. 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 charges that may be levied or assessed upon or against said property belore any part 01 such taxes, assessments and other charges become past due or delinquent and promptly deliver receipts therefor to beneliciary; should the grantor lail to make payment 01 any taxes, assess- ments insurance premiums, liens or other charges payable by grantor, either by di~ect payment or by providing 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 together with the obligations described in paragraphs 6 and 7 01 this trust deed, shall be added to and become a part 01 the debt secured by this trust deed, without waiver 01 any rights arising Irom breach 01 any 01 the covenants hereol and lor such payments, wth interest as aloresaid, the prop- erty hereinbe/ore described, as well as the ~rantor, shall be bound to the same extent that they are bound lor the payment 01 the obligation herein described, and all such payments shall be immediately d.ue and payable. ,,:ith- out notice, and the nonpayment thereol shall, at the option 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 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 obli~ation and trustee's and attorney's fees actually incurred. 7. To appear in and defend any action or proceeding purportin~ to allect the security rights or powers 01 beneliciary or trustee,' and in any suit, action or proceeding in which the beneficiary or trustee may appear, including any suit lor the loreclosure 01 this deed, to pay all costs and expenses, in- cluding evidence of title and the beneliciary's or trustee's attorney's lees,' the amot,fnt of attorney's fees mentioned in this para~raph 7 in all cases shall be lixed by the trial court and in the event 01 an appeal lrom any judgment or decree 01 the trial court, grantor lurther agrees to pay such sum as the ap- pellate court shall adjud~e reasonable as the beneficiary's or trustee's attor- ney's lees on such appeal. . I t 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, beneliciary shall have the right il it so elects, to require that all or any portion 01 the monies payable as c~mpensation lor such taking, which are in excess 01 the amount required to pay all reasonable costs, expenses and attorney's lees necessarily paid or incurred by ~rantor in such proceedin~s, shall be paid to beneliciary 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 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 com- pensation, promptly upon beneliciary's request. 9. A t any time and lrom time to time upon written request 01 bene- liciary, payment 01 its fees and presentation 01 this deed and the note lor endorsement (in case 01 lull reconveyances, lor cancellation), without allecting the liability 01 any person lor the payment 01 the indebtedness, trustee may (a) consent to the makin~ of any map or plat 01 said property; (b) join in ~ranting any easement or creating 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 of the property. The grantee in any reconveyance may be described as the Hperson or persons legally entitled thereto," and the recitals therein 01 any matters or lacts shall be conclusive prool 01 the truthlulness thereol. Trustee's lees lor any 01 the services mentioned in this paragraph shall be not less than $5. 10. Upon any default by grantor hereunder, beneliciary may at any time without notice, either in person, by agent or by a receiver to be ap- pointed by a court, a.nd without regard to the adequacy 01 any security lor the indebtedness hereby secured, enter upon and take. possession 01 said prop- erty or any part thereol, in its own name sue or otherwise collect the rents, issues and prolits, including those past due and unpaid, and apply the same, less costs and expenses 01 operation and collection, including reasonable attor- ney's lees upon any indebtedness secured hereby, and in such order as bene- liciary may determine. 11. The entering upon and takin~ possession 01 said property, the collection 01 such rents, issues and prolits, or the proceeds 01 lire and other insurance policies or compensation or awards lor any taking or damage 01 the property, and the application or release thereol as aforesaid, shall not' cure or waive any delault or notice 01 delault hereunder or invalidate any act done pursuant to such notice. 12 . Upon default by grantor in payment 01 any indebtedness secured hereby or in his perlormance 01 any agreement hereunder, the beneliciary may declare all sums secured hereby immediately due and payable. In such an event the beneliciary at his election may proceed to loreclose 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 01 delault and his election to sell the said described real property to satisly the obligation secured hereby. whereupon the trustee shall lix the time and place 01 sale, give 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 has commenced loreclosure by advertisement and sale, and at any time prior to 5 days belore the date the trustee conducts the sale, the grantor or any other person so privileged by ORS 86.753, may cure the delault or delau:ts. II the delault consists 01 a lailure to pay, when due, sums secured by the trust deed, the delault may be cured by payin~ the entire amount due at the time 01 the cure other than such portion as would not then be due had no delault occurred. Any other delault that is capable 01 bein~ cured may be cured by tendering the perlormance required under the obligation or trust deed. In any case, in addition to curing the delault or delaults, the person ellecting the cure shall pay to the beneficiary all costs and expenses actually incurred in enlorcing the obligation 01 the trust deed together with trustee's and attorney's lees not exceeding the amounts provided by law. 14. Otherwise, the sale shall be held on the date and at the time and place desi~nated 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 parcel or parcels at auction to the highest bidder lor cash, payable at the time 01 sale. Trustee shall deliver to the purchaser its deed in lorm as required by law conveying th~ property ~ so~d,. but without any covenant or warranty, express or im- plied. The recitals In the deed 01 any matters 01 lact shall be conclusive prool 01 the truthlulness thereol. Any person, excludin~ the trustee but including the ~rantor and beneliciary, may purchase at the sale. ' 15. When trustee sells pursuant to the powers provided herein, trustee shall apply the proceeds 01 sale to payment 01 (1) the expenses 01 sale in- cluding the compensation 01 the trustee and a reasonable charge by tru':tee's attorney, (2) to t!-e obli~ation secured by, the trust deed, (3) to all persons haVing recorded liens subsequent to the Interest 01 the trustee in the trust deed as their interests may appear in the order 01 their priority and (4) the surplus, il any, to the grantor or to his successor in interest entitled to such surplus. 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 conlerred upon any .tru~tee herein named or aP1X!inted. hereunder. Each such appointment ane:! substitution shall b.e made by written Instrument executed by beneliciary, which, when recorded In the mort~age records 01 the county or counties in which the property is situated, shall be conclusive proof 01 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 notify any party hereto 01 pendin~ sale under any other deed 01 trust or 01 any action or proceeding in which ~rantor, beneliciary 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 real property of this state, its subsidiaries, affiliates, agents or branches, the United States or any agency thereof,' or an escrow agent licensed under ORS 696.505 to 696.585. ---n 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 grantor warrants that the proceeds of the loan represented by the above described note and this trust deed are: (a)* primarily for grantor's personal, family, household or agricultural purposes. (see Important Notice below), (Ilk Xting xagoSplion mac incocodk Mato( io mmtookanat at Xonbieltiwar x>YoxaEdrexa*aX enaka nuifix itik2ratitap Xexnaaeaa• This deed applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, administrators, execu- tors, 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. In construing this deed and whenever the context so requires, the masculine gender includes the feminine and the neuter, and the singular number includes the plural. IN WITNESS WHEREOF, said grantor has hereunto set his hand the day and year first above written. e IMPORTANT NOTICE: Delete, by lining out, whichever warranty (a) or (b) is not applicable; s ef dty (a) Is applicable and the beneficiary is a creditor as such ry word M y In the Truth-In-Lending Act and Regulation lation q, the benefl<iary MUST comply r T comply with the e A ct e R and Regulation by making required disclosures; for this purpose, if this instrument is to be a FIRST lien to finance the purchase of a dwelling, use Stevens -Ness Form No. 1305 or equivalent; If this instrument is NOT to be a first lien, or is not to finance the purchase of a dwelling use Stevens -Ness Form No. 1306, or equivalent. If compliance with the Act Is not required, disregard this notice. IANE �A V(S (If the signer of the above Is a corporation, NOTARY PUBLI rip use the farm of acknowledgment apposite.) OREGON STATE OF OREGON, My Commission Expires STATE OF OREG sa. County of Jackson 19 December 16, 19 85 Personally appeared and Personally appeared the above named who, each being first Ruth B,.S,us ich who. ...ac.quire.d....t.it.le duly sworn, did say that the former is the as Ruth B. Iverson president and that the latter is the secretary of a corporation, and that the seal affixed to the foregoing instrument is the corporate seal of said corporation and that the instrument was signed and and acknowledged the foregoing instru- sealed in behalf of said corporation by authority of its board of directors; ment to be her voluntary act and deed. and each of them acknowledged said instrument to be its voluntary act and deed. e-.m»: Before me: (OFFICIAL _04 SEAL) _ET -1 Notar •tic for -:on Notary Public for Oregon (OFFICIAL SEAL) My commission expires: 12/27/87 My commission expires: REQUEST FOR FULL RECONVEYANCE T. be used only when obligations have been paid. TO: Trustee The undersigned is the legal owner and holder of ell indebtedness secured by the foregoing 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 owing to you under the terms of said trust deed or pursuant to statute, to cancel all evidences of indebtedness secured by said trust deed (which are delivered to you herewith together with said trust deed) and to reconvey, without warranty, to the parties designated by the terms of said trust deed the estate now heldd bbbyfyou un der the same. Mail reconveyance and documents to i DATED: v A Beneficiary De net Iva sr eased this Trust Dud OR THE NOTE which It .Both must be delivered to IM trustee for wnullalian before nunrgan <e will be made. TRUST DEED STATE OF OREGON, ea. (FORM No. WI STevEes•eees LAW PUS. co.. PORTLAND. one. Jackson County, Oregon Recorded i1 SPACE RESERVED OFFICIAL RECORDS Grantor /1 FOR /f aJAN 1 31986 4 a. RECORDER•S USE KATHLEEN S. BECKETT Beneficiary CLE .CORDER AFTER RECORDING RETURN TO /1./ 1 Dtryutp 1 /~ PROMISSORY NOTE Borrower's Name Ruth Susich Loan No. 130 HD-M Property Address 550 Fairview . Loan Amount $4,800.00 Date 12-16-85 Ashland, Oregon FOR VALUE RECEIVED pursuant to a Deferred Payment Loan from the City of Ashland, the undersigned jointly and severally promise(s) to pay to the order of the City of Ashland, a political subdivision of the State of Oregon, or it's successors, the sum of ($ 4.800.00 Four Thousand Eiaht Hundred and 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 deatJl 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. ~.LI Signature / c2../ ~ d' ..$--- / ' ate Signature Date II