HomeMy WebLinkAbout448 N 5th st_20180209123039,J6-'¿L45'¿L,EGAL DESCRIPTIONAI-.,ICE i-.,EA MCCLOUD (DAVIS)448 N STH STCENTRÀL PO]NT OREGON 97502Commencing at the northeasterly corner of Lot 3 in Block 71, inthe City of Central Point, ,fackson County, Oregon, according tothe official plat thereof, now of record; thence Southeasterly,along the easterly line of said Lot 3, a distance of 70.0 feet tothe true point of beginning; thence continuing Southeasterly,along the said easterly l-ine, 70.0 feet to the southeasterlycorner of said I-,ot 3 ¡ thence SouthwesterÌy along the southerlyline of said Lots 3 and 4, a distance of 110.0 feet to thesouthwesterly corner of said Lot 4, thence Northwesterly, alongthe westerly line of said Lot 4, a distance of 70.0 feet,' thenceNort.heasterly, paralleI with the northerly line of said Lots 4and 3 a distance of 110.0 feet to the true point of beginning;being the Southerly 70.0 feet of Lots 3 and 4 in Block 7I of theCity of Central Point, Oregon, according to the official platthereof, now of record.WP GROUP\PROPDESCJ6&"cr C-uniy,Recorded*'ôrtta*t REcoRDs
PROMISSORY NOTEHOMEOWNERSCLIENT NUMBER: #43 CRDATE: 05-03-96CLIENT NAIVIE: ALICE LEA IVCCLOUD (DAVIS)PRINCIPAI AMOUNT. $ 12.5OO.OOBENEFITTED pROpERTy: 448 N 5TH ST., CH\ITRAL POINII OREGON 97502For Val-ue Receiwed, the undersigned jointly and severallypromise/s to pay to the order of CENTRÄL POINT, OREGON, theprincipal sum of*************** * * * * * * :k* * * * * * * * * t( * * * ** * * t( t( rt J< * * ** * * ?k ** * * ** * fl 6ars12 .500. 00This note is for the principal amount only and includes zerointerest.This note shall become due and payable upon transfer or saleof the above benefitted property, except where transfer occurs byinheritance or wiII. In the case of transfer by inheritance, theheirs witl step into the agreement and it will not be due untilsale or transfer of the ProPertY.Upon ful1 palrment. to Central Point, this Note and the TrustDeed that secures it will be deemed satisfied. The undersigned maypay the full amount at any time without penalty-In the case that suit or action is instituted to collect ont.his note, the undersigned promises and agrees to pay in additionto costs and disbursements provided by statute, such additional sumas the court may judge reasonable as attorney's fees to be al-lowedin such suit or action or upon such appeal-This note is subject to the attached terms and conditions ofthe Central Point Woodst.ove Replacement & Rehabilitatíon Loan forHomeowners.Note has been duly executed bYIn witness whereof,undersigned, as of thisWitnessday of )44/-.-t-/Borrower/s:this%,2, l-99the6.dr*"IwP GROUP\PRMNOTCP
/5-Trusl Deed Series - TRUST DEEDCOPYFIGHT36-?145?TRUST DEED3MAYTHIS ?RUST DEED, made thisday of19--, betweenALrCE LEA IrcCrO..UD_...(D4VIS )CITY OF CE\ITRAL POINT ____-___-_--____.., as Beneticiary,WITNESSETH:Grantot irtevocably lrants, barþains, se1ls and conveys to trustee in trust, with power of sale, the property inJACKSON . County, Oreþon, described as..SEE ATIACHED:.toþether wìth all and sinþular the tenements, \ered.itaments and appurtenances and all other iþhts thereunto belon¿in¿ or in anywise nowor hereaÍter appertainin{, and the renús, issues and proÍits thereol and all fixtures now oî herealter attached to or used in connection withthe property.FOR THE PURPOSE OF SECURING PERFORMANCE of each aþreement oÍ þrantor herein contained and payment oÍ the sum"f . T@L--W nOUç4¡¡q FnE HVI-{DBEq êNP -NO-/100*******Ï*******:k*****************rr*-*****************************************?t*)k*********** - -,not sooner paid, to be d.ue aLnd payabte f*Ui¿- Ary-lollNT !lE-O!! -S-4LEJ s ** .The date oÍ maturity of the debt secured by this ìnstrument is the date, stated above, on whìch the final installment ol the rñtebecomes due and payable. Shou/d the þrantor either aþree to,attempt to, or actually sell, convey, or assiEn all (or any part) oI the prop-eÍty ot all (or any part) oÍ érantor's interest in it without Íìrst obtainin¿ the wrítten consenú or approval of the beneÍicìary, then, at thebenelìciary's optionlr, all obli¿ations secured by thìs instrurcnt, irrespectìve ol the maturity dates expressed thereìn, or herein, shall be-come immediately due and payable. The exeøtion by þrantor oI an earnest noney aêreemenú** doei not constìtute a sale, conveyance orassi¡lnmenf.To protect the security oÍ this trust deed, þrantor aélrees.'l. To protect, preseÍve and maintain the property ìn þood condition and repair; not to temove or demolish any buildinþ or im-provement thereon; not to commit or permìt any waste oÍ the property.2. To complete oÍ restoÍe promptly and in lod and habitable condition any buildìn! or ìmprovement which may be constructed,damaþed or destroyed thereon, and pay when due a/l cosfs ìncurred therelor.3. To comply with all laws, ordinances, relulations, covenants, conditions and restrictions aÍÍectinþ the property; iÍ the benefìciaryso requesús, to join in exec-utinþ such financin! sfafemen/s pursuant to the UniÍorm Commercial Code as the beneÍiciary may require andto pay Íor íilinp same ìn the proper public o|Íice or otfìces, as well as fåe cosú oÍ all lien searcåes made by Íilinþ ollicers or searchinpalencies as may be deemed desirable by the beneÍiciary.4, To provide and continuously maintain insurance on the buildinês now or hereaÍter erected on the property aþaìnst ,loss ordamaþe by Íire and such other hazard.s as the beneÍìciary may frotn time to time require, ìn an amount noú less than $..-...-.-....wåtten in companies acceptable to the benelicìary, with loss payable to the latter; all polìcìes of insurance shall be delivered to the bene-Iiciary as soon as insured; if the prantor shall tail tot any reason to procatre any such ìnrurance and to deliver the policÍes to the beneficiaryat least ÍiÍteen days prior to the expiration ol any policy of ìnstrance now oÍ hereaÍter placed on the buìldinþs, the beneÍiciary may pro-cure the sa¡ne af ¿rantor's expense. The amount collected under any fire or other insttrance policy may be applìed by benelìciary uponany ìndebtedness secured hereby and in such order as beneÍÍciary may deterotine, or at option of beneÍicìary the entìre amount so collected.,or any part thercot, may be released to lrantor. Such applicatìon or release shall not cure or waìve any deÍau|t or notice oI deÍault here-under or invalidate any act done pursuant to such notice.5. To keep the property free trom construction liens and to pay all faxes, assessa?ents and other charþes that may be levied orassessed upon or aþainst the property beÍore any part oÍ wcå faxes, assessmen/s and other charþes become pasú due or delinquent andpromptly deliver receipts therelor to beneticiary; should the þrantor Íait to make payment of any taxes, assessmenfs, insurance premiums,lìens or other charpes payable by lrantor, either by d.irect payment or by providinp beneÍiciary with lunds with which to make such pay-tnent, beneÍicìary may, at its option, make payment thereoÍ, atú the amount so paid, wìth interest at the rate set íorth in the notesecured hereby, toþether with the oblìþatìons described in paralraphs 6 and 7 oÍ this trust deed, shall be added to and become a part oÍthe debt secured by this trust deed, without waiver oÍ any riþhts arisinþ Írom breach of any oI the covenants hereol and for such payments,with interest as aforesaid, the property hereinbeÍora described, as well as the érantor, shall be bound to the same extent that they arebound for the payment ol the obli¿ation herein d.escribed, and all such payments såa1l be immediately due and payable without notice,and the nonpay;ø:.ent thereoÍ shall, at the option oÍ the bereÍiciary, render all sums secured by this trust deed immediately due and pay-able and constitute a breach oÍ this trust deed.6. To pay a/1 cosús, fees and expenses ol thÍs trust ìncludìnþ the cost oI title searcå as well as the other cosús and expenses of úåetrustee incurred in connection with or in entorcìn! thìs obli$atìon and. f¡usfee's and attorney's Íees actually incurred.7. To appear ìn and defend any actìon or proceedinþ purportìné to aÍÍect the security rì¿hts or powers oÍ beneficìary or trustee;and in any suit, action or proceedinþ in whìch the beneÍìcìary or trustee may appear, ìncludin! any suit for the Íoreclosure oÍ this deed,to pay all cosfs and expenses, includin¿ evidence ol title and the beneÍiciary's o¡ ú¡usúee's attorney's Íees; the amount oÍ attorney's Íeesmentioned in thìs parapraph 7 ìn al,l cases shall be [ixed by the trial court and in the event oÍ an apped Írom any judþment or d.ecree olthe trìal court, þÍantor Íurther aþrees to pay sttch sur¡I as the appellate court shall adjud¿e reasonable as the beneliciary's or frusfee's aú-torney's fees on such appeal.It is mutually aþreed that:8. In the event that any portion or all of the property shall be taken under the rì¿ht oI eminent domaìn or condemnation, bene-lìciary shall have the ri¿ht, if iú so elecfs, to require that all or any portìon oI the monies payable as compensatìon Íor such takinp,NOTE: The Trusl Deed Act provides lhal the truslee he¡eunde¡ musl be eilher an atlorney, who ¡s an act¡ve member 0f the 0¡eg0n Stale Bat a bank, trust companyor savings and loan associat¡0n author¡zed lo do business under the laws ol oregon or the Un¡ted Stales, a title lnsurance c0mpany authorized l0 insure title lo realproperty 0l this state, ¡ts subsidiaries, atlil¡ales, agents or branches, lhe United Skles or any agency thereol, 0r an escrow agenl l¡censed under oRS 696.505 to 696.585.'WARNING: 12 USC lmli-3 regulales and may prohibit exercise of this opt¡on."lhe publlsher suggesb lhat such an agreemenl address the issue ol oblaining benel¡ciary's consenl ¡n complete deta¡|.TDII<T IìEENSTATE OF OREGON,
beinþof flre essence wÍth respectto such payment andlor perÍotmance, the beneÍiciarymay declare all sums sectsred herebyimmzdiatelydue and payable..fn sucå an event the beneficiary may elect to proceed to Íoreclose this ttust deed in equity as a mortéaée or di:ect thetrustee to Íoreclose this trust deed by advettisement and sale,oÍ may direct the trustee to puÍilte any other riéht or remedy, elther atIaw or in equity,which the beneÍiciary may have. In the eventthe beneliciary elects to Íoreclose by advertisement and sale, tÍre bene-Íiciaryor the trusteeshall execute and euse to be recorded a written notìce oÍ default and election to sell the property fo safisfy the obli¿a-tìon securedhereby whereupon the trustee shall lix the time and place oÍ sale, þive notice thereoÍ as then required by law artd proceedto Íoreclose this trust deed in the manner provided in OIRS 86'735 to86.795.13. AÍter the trustee has commenced Íoreclosure by advertisement and sale, and at any time prior to 5 days bef,cre the éate thetrustee conducfs /åe sale, the þrantor or any other person so privile¿ed by ORS 86,753, may cute the default or deÍaults. IÍ the delaultconsisfs oÍ a Íailure to pay, when due, sums secu¡ed by the trust deed, the default may be cured by payinþ the entire amount du= at thetime ol the cure other than such portion as would not then be due had no default occurred.. Any other deÍault that is capable oI bein!cured may be cured by tenderinþ the perÍormance required under the oblipation oî trust deed. In any case, in addition to curinê the de-fautt or deÍaults, the person eiÍectin¿ the cure shatl pay to the beneficiary all cos/s and expenses actually incurred in enforcinþthe obliþation oI the trust deed topether with trustee's and attorney's lees nof exceedinp the amounts provided by |aw.l4l Otherwise, Éfie sale shatl be held on the date and at the t;ime and place desipnated in the notice oI sale ot the time to whichthe sale may be postponed as provided by \aw. The trustee may sell the property either in one parcel or in sepatate parcels and shall sellthe parcel or parcels at auction to the hi¿hest bidder for cash, payable at the time of sate. Trustee shall deliver to the purchaser its deedin Íorm as rejuired by law conveyìn! the property so so/d, but without any covenant or warranty, express or implied.The recitals inthedeed oÍ any matters oI Íact shall bè conclusive proof oÍ the truthÍulness fåereol. Any person, excludin! the trustee' but incluainþ theérantor and beneÍiciary, may purchase at the sale.15. When lrusfee se/1s jursuant to the powers provided herein, trustee shall apply the proceeds oÍ sale to payment oÍ (I) the ex-penses of sate, includinþ the compensation oI the t¡ustee and a reasonable charþe by frusfee's attorney, (2) to the obli¿ation æcured bythe trust deed,(3) to all persons havinþ recorded liens subsequenÉ to the interest oÍ the trustee in the trust deed as their interests mayappeat in the order oÍ theÍr priority and (4) the surplus, iÍ any, to the lrantor or to any successor in interest entitled to such su:p.lus.76. BeneÍiciary may from time to time appoint a successor of successors to any trustee named hereìn oÍ to any successor f¡us1eeappoìnted hereunder. (Jpon such appointment, and wìthout conveyance fo fåe successor trustee, the latter shall be vested with all title,pj*"r" and duties conÍerred upon any trustee herein named or appointed hereunder. Each such appointment and subslitution ehall bemade by written instrument executed by beneficiary, which, when recorded in the mortlaþ.e records of the county or counties in which theproperty is sifuaÉed, shall be conclusive prooÍ oÍ proper appointment oI fåe successo¡ trustee'- 17. Trustee accepts fárs frusf when this deed, duly executed ¿tnd. acknowledþed, is made a public record as provided by law.Trusteeis not oblipated to notily any pafty hereto of pendin! sale under ar¡y other deed oI trust or ol any action or ptoceedinþ in which êrantor,beneÍiciary or trustee shall be a party unless sucå action or proceedin! is brouþht by trustee.The þrantor covenants and aþrees to artd with the beneÍiciary ¿tnd the beneÍiciary's successor in interest that the érantor is )awÍullyseized ìn fee simple oI the teal property and has a valid, unenctmbered title theretoand that the þrantor will warrant and Íorever deÍend the same aélaifisf all persons whomsoever.The þrantor warrants that the proceeds oI the loan represented by the abowe described note and fåis frusf dæd. are:(a)* primarily Íor þrantor's personal, Íamily or household purposes (see Important Notice below),(b) Íor an orþanization, or (even iÍ Qrantor is a natural person') are Ior business or cornrnercial purposes.ihis deed applies to, imres to the beneÍit oÍ and binds all parties hereto, their heirs, leþatees, devisees, administrators, executots,personal representatives, succ€ssors and assi¡¡ns. The term bereÍiciary shall mean the holder and owner, itrcludinþ pled(ee' oI the contractsecured hereby, whether or not named as a beneÍiciary hereinIn conÃiruin¿ this trust deed, it is understood that the ê¡antot, trustee andfor beneÍiciary may each be more than one perscn; thatiÍ the context so rJgrires, the sin¿ular shall be taken to mean-and. include the plural, and that þenerally all þramatical chanþís ehall bemad.e, asstmed and implied to make the provisions hereoÍ apply equally to corporations and fo individuals-IN WITNESS I4I¡1EREOF, the þrantor has execu/ed this instrument the day and year first above writlen.ut. pt Étq'L.vt 'DATED: 19* ItvtPORTANT NOTICE: Delete, by lining out, whichever worronly (o) or {b) isnot opplícoble; if worronty (of is opplicoble ond îhe beneficiory is q credito¡os such word is defined in the T¡uth-in-Lending Act ond Regulotion Z, thebeneficiory MUST comply w¡th fhe Act ond Regulotion by moking requireddisclosures; for this purpose use Slevens-Ness Form No.13'l9, or equivolent.lf <omplionce with the Act is nol required, disregord this nolSTATE OF OREGONThis instrumentøv.. ...Q/c¿....kç.This instrument was acknowledéed before me onon ñ2a-r¿. 3./câ,,Lè1e?..þ__,) ss.byASofMy commission expiresQ-trPublic for OreþonREQUESf FOR FULL RECONVEYANCE (To be used only when obligotions hove been poid.)TO:. , TrusteeThe undersiþned is the leþal owner and holder of all indebtedness secured by the forePoiné trust deed. AIl sums secured by the trustdeed. have been |ully paid and safislied. You hereby are directed, on payment to you oÍ any surrrs owiné to you under the terms oÍ thetrust deed or pursuant to statute, to cancel all evidences oI indebtedness secured by the trust deed (which are delivered to you herewithtoÉethet with the trust deed) and to reconvey, without warranty, to the parties desi¿nated by the terms oÍ the trust deed the estete nowheld by you under the same. Mail reconveyance and dættments toDo not lose or deslroy this T¡usl Deed OR IHE NOTE which it secures.Both musl be delivered to the truslee for concellotion beforereconveyonGe will be mode.--/OFFICIAL SEALBETTY I'. PRENTICENOTABY PUBLIC . OREGONcoMMTSStON N0.022268MY COMMISSION EXPIBES FE8. 18, 1997Beneficiary