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HomeMy WebLinkAbout1985-085 Trust Deed - Hoskinson oc 85. ...2~~55 FORM N~ 111-0';10" Trust D~.d Series-TRUST Dr,- ctj::.. b\~@ TRUST DEED~;'9\~()~ \oboo ... . S......------.NS-NESS LAW PUBLISHING CO., PORTLAND, OR. 97204 ~~ ~~ THIS T RUST DEED, made this .----....Z.l~:t..______.._day of .---____9_~_t_QJ'J~x:___..________..__..______..___, 19_8_5____, between - - -- --- - - ---- - - --- - - - -- - - - - __E_l_iz_a b_ e-t_h___HQ.s.ki_D_S_Q_n_ __ __ _ _____ __ __ ____ ___ ___ _ _ __ _ _ _____ _ ___ _ _ _ __ _ _ _ ___._ _. __ __ _ _ __ _ _ _ ___ __ _ _ __ _ _ _ _ __ __ _ ___ __ _ _ __ _ _ _ _ __ _ _ _ _ __ __ __ __ _ _ __ __ _ _ __ __ _ ____ ---.--------- ------ ----.- ---- --- - -- ----- --- - --- -- --- - ------ - - -- -- ---- -- - --- -- -- - - --- --- - - -- - --- - - -- - - -- - -- -- -- - ----.---.--- - ------.---- - -- --- -.--- - - ---------- -----.- --- -- --- - -- - - -- - - - - -- - - --- ----- ---- -- - - -- - - - - -, as Grantor, .....Cra:te.r....T.it.l.e...:Ins.ur.an.c..e....CQmp.anY,'u..an...Qr.e.g.QIL.~Q;q;~o.r.a.tJ.Qn, as Trustee, and .-.- .-... - -- -.. -... -. --.. ---- -- -- - - -. ---...... ----.... ----.... --........ --...... ---........ .--...... ----.....-.-.... --.-.... -- --.... ----..... -.----.... --....... ---...... --.... --........ .---.. ------.. .---.... -- --- ----...... -- --.... .---.. ------ -.- --.....- --.. --- --.....- --.. - -- - - - - -- - - - - -- - - - - -- -- - - - - - - _Ci:ty _ _ _o_f__ _ As h~an d _ _ __ _ _ _ _ __ _ _ _ _ __ _ _ _ ___ _ _ _ _ __ _ ____ ._ __. _._ __ _ _ ____ _ _ ____ _ _ __ _ _ _ _ __ ___ ___ __ _ _ __ __ _ _ __ ____ _ _ __ _ _ __ __._ _ _ __ _ _ ____ _. __ _ _ __ _ _ __ _ _ __ _ _ __ _ _ __ _ _ _ _ _, as Beneficiary, WITNESSETH: Grantor irrevocablysrants, bargains, sells and conveys to trustee in trust, with power of sale, the property in -----------..Jacks.o-n--__________________.._County, Oregon, described as: Beginning at the Northwest corner of Lot 1 of the the City of Ashland, Jackson County, Oregon; thence line of said Lot, 88.2 feet; thence East, parallel with of said Lot, ll8.2 feet to the East line of Lot 2 of North, along the East line of said Lot 2, a distance Northeast corner thereof; thence West, ll8.2 feet to beginning. SOUTHERN HOME South along the said of the TRACT in the West North line Tract; thence 88.2 feet to the point of 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 PERFORMANCE of each a~reement of grantor herein contained and payment of the sum of - - _FQ_ur - - - - Th QU_s_an_d_ _ _ _Ei_ght____H_und_re_d.. __g_Od____D_O_I_l_ O__Q_ ____ ___ _ __ __ _ ___ _ __ _ _ _ _ _ _ _ __ _ _ _ ___ _ __ _ __ _ _ _ _ __ ____ _ __ _ _ ____ _ _ _ _ _ _________ _ _ __ __ __ 00_ _ __ _ _ _ _ _ _ _ _ __ _ _ _ __ --- -- - --- ------- ----- -- --- -- --------- h. ----- ----------- --- ----------------------------------------------oo-------_______Dollars, with interest thereon accordin~ 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 -up-o-n----s-a_le____Qr____t_ra_n_s__f_e_l.:.., 19_00_00_____00_. 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 having obtained the written consent or approval of the beneficiary, then, at the beneficiary's option, all obli~ations secured by this instrument, irrespective of the maturity dates expressed therein, or herein, shall become immediately due and payable. , ..Jheabove 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 maintain said property in ~ condition and repair; not to rfilmove or demolish any buildin~ or improvement thereon,' not to commifor permit any waste of said property. ~. To complete Or restore promptly and in Aood and workmanlike manner any, building or iaiprovement which may be constructed, damaged or destroyed thereon, and pay when due al1 costs incurred there/or. .. 3. TQ cOmply.with all )/Jws, ordinances, re~ulations, covenants, condi- tions and restriCtions-~/ectingiaid property; if the beneficiary so requests, to join in executing such~ing 'statements pursuant to the Uniform Commer- cial' ~od~, as~ the b.4'neliC,iary may require and to pay for filin~ same in the pro1>>r publiC; ollice or ollices,.. ,as well as the cost 01 all lien searches made by tiling ollicers or sea'Yhin~ "agencies as may be deemed desirable by the bene/iciary. .' , 4. To provide and continuously maintain insurance on the buildings now or herealter erected on the IBid premises against loss or damage by lire :~d a:::~~n~t~~ te~:~~::n a;,~1._:~ntt~-crn~--~~~-~-_-~~~~--~~--~~-~-~, r::U~~ ~~ companies acceptable tt) the beneliciary, with loss payable to the latter,' alJ policies 01 insurance shal1 be delivered to the beneficiary as soon as insured; il the grantor shal1 fail for any reason to procure any such insurance and to deliver said policies to the beneficiary at least filteen days prior to the expira- tion of any policy 01 insurance now or herealter 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 01 beneliciary the entire amount so col1ected, or any part thereol, may be released to grantor. Such application or release shal1 not cure or waive any default or notice of delault hereunder or invalidate any act done pursuant to such notice. 5. To keep said premises Iree Irom construction l:ens and to pay al1 taxes, assessments and other charges that may be levied or assessed upon or against said property be/ore any part 01 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 char~es payable by ~rantor, either by. direct payment or by providing beneliciary with lunds with which to make such payment, beneliciary 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 obli~ations described in paragraphs 6 and 7 01 this trust deed, shall be added to and become a part of the debt secured by this trust deed, without waiver 01 any rights arising Irom breach of any of the covenant. hereol and lor such payments, wth interest as a/oresaid, the prop- erty hereinbefore described, as well as the ~rantor, shal1 be bound to the same extent that they are bound for the payment of the obli~ation herein described, and all such payments &hal1 be immediately due and payable with- out notice, and the nonpayment thereol shal1, at the optit)n of the bene/iciary, 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, fees and expenses 01 this trust includin~ the cost of title ..-arcIa .. well as the otlter co.ts and expenses 01 the trustee incurred in connection with. or in en/orcing this obli~ation and trustee's and attorney's lees actually incurred. 7. To ap'pear in and delend any action or proceeding purporting to affect the securIty rights or powers 01 beneliciary or trustee; and in any suit, action or proceeding in which the bene/iciary or trustee may appear, including any suit lor the lorec/osure 01 this deed, to pay all costs and expenses, in.. cluding evidence 01 title and the beneficiary's or trustee's attorney's lees; the amount of attorney's lees mentioned in this paragraph 7 in all cases shal1 be lixed by the trial court and in the event 01 an appeal Irom any judgment or decree 01 the trial court, grantor lurther a~rees to pay such sum as the ap- pellate court shal1 adjudge reasonable as the beneliciary's or trustee's attor- ney's lees on such appeal. . 1 t is mutually a~reed that: 8. In the event that any portion or al1 01 said property shall be taken under the right 01 eminent domain or condemnation, benellciary shal1 have the right, il it so elects, to require that al1 or any portion 01 the monies payable as compensation for such taking, which are in excess of the amount required to pay all reasonable costs, expenses and attorney's lees necessarily paid or incurred by grantor in such proceedings, shal1 be paid to beneliciary and applied by it first upon any reasonable costs and expenses and attorney's fees, both in the trial and appel1ate 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 expense, to take such actions and execute such instruments as shal1 be necessary in obtaining such com- pensation, promptly upon beneliciary's request. 9. A t any time and from time to time upon written request 01 bene- liciary, payment of its lees and presentation 01 this deed and the note for endorsement (in case 01 lul1 reconveyances, lor cancel1ation), without affecting the liability 01 any person lor the payment 01 the indebtedness, trustee may (a) consent to the making 01 any map or plat 01 said property; (b) join in granting any easement or creating any restriction thereon,' (c) join in any subordination or other agreement allectin~ this deed or the lien or charge thereof; (d) reconvey, without warranty, all or any part 01 the property. The grantee in any reconveyance may be described as the "person or persons legal1y entitled thereto," and the recitals therein 01 any matters or facts shal1 be conclusive proof of the truthlulness thereo/. Trustee's lees lor any 01 the services mentioned in this paragraph shal1 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, and without regard to the adequacy 01 any security for the indebtedness hereby secured, enter upon and take possession 01 said prop- erty or any part thereol, in its own name sue or otherwise col1ect 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- liciary may determine. 11. The enterin~ upon and taking possession 01 said property, the col1ection of such rents, issues and profits, or the proceeds 01 fire and other insurance policies or compensation or awards for any taking or damage 01 the property, and the application or release thereof as aloresaid, shall not cure or waive any default or notice of delault hereunder or invalidate any act done pursuant to such notice. 12 . Upon de/ault by ~rantor in payment 01 any indebtedness secured hereby or in his performance 0/ 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 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 beneliciary or the trustee shall execute and cause to be recorded his written notice of delault and his election to sell the said described real property to satisfy the obligation secured hereby. whereupon the trustee shall lix the time and place 01 sale, Aive notice thereol as then required by law and proceed to lorec/osethis trust deed in the manner provided in ORS 86.735 to 86.795. . 13. After the trustee has commenced loreclosure 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 privile~ed by ORS 86.'153, may cure the delault or defau:ts. If the delault consists of a lailure to pay, when due, sums secured by the trust deed, the delault may be cured by paying the entire amount due at the time 01 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 perlormance required under the obligation or trust deed. In any case, in addition to curing the delault or delaults, the person elfecting the cure shal1 pay to the beneliciary al1 costs and expenses actual1y incurred in eniorcing the obli-gation 01 the trust deed together with trustee's and attorney's lees not exceeding the amounts provided by law. 14. Otherwise, the sale shal1 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 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 shal1 deliver to the purchaser its deed in lorm as required by law conveying th~ prf!Perty ~ 8O~d, but without any covenant or warranty, express or im- pl.ed. The recItals .n the deed 01 any matters ollact shal1 be conclusive prool 01 the truthlulness thereo/. Any person, exc/udin~ the trustee, but including the grantor 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 trustee's attorney, (2) to the obligation secured by the trust deed, (3) to al1 persons having recorded liens subsequent to the interest of the trustee in the trust deed as ~heir interests may appear in ~he order 01 . th~ir priority and (4) the surplus, II any, to the grantor or to hIS successor .n 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 trustee herein named or appointed hereunder. Each such appointment am! substitution shall be made by written instrument executed by beneliciary, whIch, when recorded in the mort~a~e records of the county or counties in :,h:;:; ::c:::e~~~s:~e~ituated, shal1 be conclusive prool 01 proper appointment 17. Trustee accepts this trust when this deed, duly....xecuted and acknowledged is made a public record as provided by law. -.rustee is not obligated to notily any party hereto 01 pending sale under any other deed of trust or 01 any action or proceeding in which grantor, bene/iciary 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 Jgws of Oregon or the United States, a title insurance company authorized to insure title to real property of this $~at., its subsidiaries, affiliates, agents or branches, t..,,-United States or any agency thereof, or an escrow agent licensed under ORS 696.505 to 696.585. _i The ~rantor covenants and agrees to and with the beneficiary and those claiming under him, that he is law- lully seized in lee simple 01 said described real property and has a valid, unencumbered title thereto This Trust Deed is inferior to a Contract of Sale, including the terms and provisions thereof, executed September 12, 1974, by and etween Elmer I. Newton and Mary Esther Newton aka Mary Newton, husband and wife, as sellers, and Kelsey Bower and lizabeth Hoskinson, as purchasers, recorded August 14, 1979, as Document No. 79-17689, Official Records of Jackson ~nty, Oregon. (includes additional pro~rt~.) and that he will warrant and forever de/end the same ssainst all persons whomsoever. The ~rantor warrants that the proceeds of the loan repreeented by the above dellCribed note and this trust deed are: (a)* primarily for ~rantor'. personal,. fliaUly, household or a~ricultura1 purposes (see Important Notice below) (ttk~~.ft~titm,lAt_tPJdKmntwK~RlJllXIIDIIIHJIII~~~~~W~ All>>OIII. This deed applies to, inures to the benefit of and binds all parties hereto, their heirs, le~atees, devisees, administrators, e%ecu- tor., . personal representatives, successors and assi~ns. The term beneficiary shall mean the holder and owner, includi~ pled,., of the contract secured hereby, whether or not named as a beneficiary herein. In~nstruin~ this deed and whenever the context so requires, the masculine .nd.er includes the feminine and the neuter, and the sin,ul~r number includes the plural. IN WITNESS WHEREOF, said iran tor has hereunto set his hand the day and year lirst above written. · IMPORTANT NOTICE: Dele", by lining out, whlchey., warranty (a) or (b) is not applicable; if warranty (a) Is applicable and the beneficiary Is a crteclitor as such word is defined in the Truth-in-Lending Act and .egulatlon Z, the beneficiary MUST comply with the Act and Regulation by making .....uired disclosures; for this purpose, if thil Instrument is to be a FIRST lien to finance the purchase of a dwelling, use Stevens-Nell Form No. 1305 or equivalent; If this Instru....nt il NOT to be a fint lien, or is not to finance the purchase of a dwelling use Stevenl-Nels Form No. 1306, or equivalent. If compliance with the Act I. not required, dls....ard this notice. (If the sign.r of the above is a corporation, use the. form of acknowl.dgment opposite.) STATE OF OREGON, ) ) SSe County of ____J_ackso_o_________________________) _____________Q_c_t_o_be_r____2_1_1-______ _ _ _ __ _____, 19__8_5__ _ _. Personally appeared the above named___~____________________ - --- - - - - -- _ _ _ Eli_z.ab_e th __ _ Ho sk ins_on __________ __ _ _ __ __ __ _ ___ ______________oo_____oooo_____aoo acknowled~ed the fore~oin~ instru- ment to beuu.~~e.ru....:u..uu.voluntary act :. deed. ~~z.~Cl AL ...."u.m._..u._ .. .m.wm.... ........ uuuu.__umu......... Notary Pu lic for Ore~on My commisaion expires: 12 -1,. 1- n JANE DA Vl~ NOT A~~ PUBLIC -:.. O'~EGON My CommIssion Expires -----------...,.... - --.------ STATE OF ORE N, oun y 0 _____________00______ -- -- - -- --- - 00 - - __ ___ ___ __ - - ___ __ ____ _____ ___ _ _ 00 _ ____ _ __ 00 __ __, 19___ _ __ _ _.__ _ _ _ __. Personally appeared - _ _ -- - ---- _ -- -- -__ _ __ --- ____ __ ____ _ _ _ __ _ __ _ _ ___ _ ___ _. _ _ ___ __ _____ _ _ _ _ _ __ _ _ _ _ _ _and - 00-- -- ----- ------- ------00 ___________ __________ 00__ ____00 ______________________ __ _ ___00 ________ who, each bei~ first duly sworn, did say that the former is the____________________________________________________________ president and that the latter is the--------________________________________________________oo____________ secretary of ______ __ _ _____ - _____ __ ___ ____ __ _____ _ ____ ____ ____ __ _ _ _ _ __ _____ _______ _ _ _ _ _ __ .___________ __ __ __ ___ _ _ _ _ _ _ _ _ _ _ _ ___. -) SSe ~--~~~;~-ti~~:-~~--th~t --th~--~~i-~ffi;.~d- -t~--th; --f~~;~i~~--j~~t~~~-;;t- -i~ --th~ corporate seal of said corporation and that. the instrument was si,ned and sealed in behalf of said corporation by authority of its board of directors,' and each of them acknowledpd said instrument to be its voluntary act and deed. Before me: Notary Public for Ore~on (OFFICIAL SEAL) My commission expires: T. be used only wh.n obUlatlons have be.n paid. IEQUEST FOI FULL IECONVEY ANCE TO: ---------..______ _ ___ _ __ __h_________ _______________________._________ ____________ ___________________, Trustee The undersi~ned is the le~al owner and holder of all indebtedness secured by the fore,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 of indebtedness secured by said trust deed (which are delivered to you herewith to~ether with said trust deed) and to reconvey, without warranty, to the parties desi~nated by the teraJsof said trust deed the estate now held byfyou under the same. Mail reconveyance and documents to --------------________________________________________________00__________________________________________. DATED: ___ - - _.. ___ ___ _____ __ - _ _ _ _ ___ __ 00__ __ _____ __ _______ _____ __ _ _______ _ _ _ __ _ _, 19_00_________. ----... ------------ ----- ------- -------...------------...------...--------- -------- ...-... ------ - -- - --- -.... -... -- - -... ---........ -- -- - --... -...... ---.........- Beneficiary D. n.t I... er d.str.y this Tru.t D..d 01 THE NOTE which it secure.. loth must 1M delivered to the trustee for cancellation before reconveyance will b. made. TRUST DEED STATE OF OREGON, ~ss. (FORM No. 111) STEVENS-NESS LAW PUB. CO.. PORTLAND. ORE. Grantor Beneficiary AFTER RECORDING RETURN TO City of Ashland Rehabllitation Division Ash1.and:,. 'Oregon 97520 -----n SPACE RESERVED FOR RECORDER'S USE J___ Coauty, Oregon IecJorded omcw, IICOBDS 11."/1) DEe 1 11985 .1/& ~ 8.IECDJT " Clad UCOBDQ ",~,..~r'~1 ~ .-~ . 'I ~, PROMISSORY NOTE Borrower's Name Liz Hoskinson Loan No. 085 HD-M Property Address 1280 Iowa St. Loan Amount$4;800 Date 10/16/85 Ashland, Oregon FOR VALUE RECEIVED pursuant to a Deferred Payment Loan from the City of Ashland, the undersigned jointly and severally promise(s) to pay to the order of the City of Ashland, a political subdivision of the State of Oregon, or it's successors, the sum of ($ 4,800 four thousand eighthundred---------------~---------------dollars. THIS NOTE shall become due and payable upon any actual or attempted transfer, voluntary or involuntary, including by ope~ation 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 th~ 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. /O/~~g~ Signature Date . I'