HomeMy WebLinkAbout492 Strait Way_20180209123540tåù6F:.;Ar1t4ó1p. t.rrt D..d sêr¡.r-rnuSr DEED (No r.3r¡¡.r¡oñ s ırr¡snñ.ñrlNLCOPYRIGHI 1992 SIEVEÑS.NESS LAW FUYTHIS TRUST DEED, made this ?5Íh ....... day oÍDAVID E BOl^,tNTRUST DEEDTITLE COMPAN96between. -. - -.- -- -, as Grantot,--, as Trustee, anda.F- ÇqNIBAl= .P-qlltl as Beneficiary,WITNESSETH:Grantor irrevocably Q¡ants, barþains, se//s and conveys to trustee in trust, with power of sale, the property inJACKS0N -.. County, orepon,desc¡ibed as.'Lot 18, B'lock 3, WEST PINECounty, 0regon. EXCEPTINGDocument No. 7I-02099, OffiILLA SUBDIVISION in the City of Central PointHEREFROM that part 'lying within tract describial Records of Jackson County, Oregon.VTc, Jacksoned intopether wìth all and sìnlular the tenements, heredÍtaments and appurtenances and all other rìþhts thereunto belonginþ or ìn anywìse nowor herealter appertainìng, and the renús, issues and protìts thereoÍ and all Íixtures now or hereaÍter attached to o¡ used. in con¡ection wìththe property.FOR THE PURPOSE OF SECURIIVG PERFORMANCEDavment oI the sm*{***********.r El-_Ey_EN IHO_U_SAND FOUR HU_I'IDRED EISIX*************************************with interest thereon accordinþ to the terms oÍ a promissorynote oÍ even date herewith, payable to beneÍìciary or order and made by Prantor, the Íinal payment oÍ principal and. interest hereoÍ, ìÍr¡oú sooner paid,tobe due and payable FU-l--t= AI4O-U.NT -UPA-N SA,L-Frp.** .The date oÍ matutity oI the debt secured by this instrument is the date, stated above, on which the Íinal ìnstallment oI the notebecomes due and payable.To protect the securìty oÍ this trust deed, lrantor aérees.'l. To protect, preseÍve and maintain the property in Pood condìtÍon and repaìr; not to remove or demolìsh any buìldinp or im-provement thereon; not to commit or permìt any waste oI the property.2. To complete or restore promptly and in þod and habitable condition any buildìn! or ìmprovement which may be constructed,damaþed. or destroyed thereon, and pay when due all cosfs incurred. therelor.3. To comply with all laws, ordinances, repulations, covenants, conditions and restrictìons afÍectìn¿ the property; if the beneÍicìaryso requesús, to join ìn exeætinþ, srch Íìnarrcin! súafemenfs pursuant to the UniÍorm Commercìal Code as the benelìciary may require andto pay Íor Íilinþ same in the proper public olÍice or oIIìæs, as well as /åe cosÉ oÍ all lien searcåes made by Íilìnþ oÍIìcers or searchin¡!a¡lencies as may be deemed desirable by the beneÍiciary.4. To provide and continuously maintain insurance on the buildinés now or hereaÍter erected on theaþainst loss ordamaþe by Íire and sucå other hazatds as the beneÍìcìary may Írom time to time require, in an amount nol less fåanwritten in companies acceptable to the beneficìary, with loss payable to the latter; all policies oI insurance sha/i be delivered to the bene-ÍìcÍary as soon as ìnsured; if the þrantor shall Íail |or any reason to pÍocuÍe any such insurance and to deliver the policies to the beneÍiciaryat least fitteen days prìot to the expiratìon oÍ any policy oÍ insurance now or hereafter placed on the buìldinþs, the beneÍiciary may pro-cure the saure aÉ lrantor's expense. The amount collected under any Íire or other insurance policy may be applied by benelìcìary uponany indebtedness secured hereby and rn sucl¡ order as beneficìary may determìne, oÍ dt option oÍ beneficiary the entìre amount so collected,o1 any part thereoÍ, may be released. to érantor. Such applìcatìon or release shall not cuîe or waive any default ot notice oI delault here-under or invalidate any act d.one pursuant to such notice.5. To keep the property Íree Írom construction lìens and to pay aII úaxes, assessmenfs and other charþes that may be levied orassessed upon ot aþainst the property belore any part oÍ sucfr faxes, assessmenfs and other charþes become past due or delinquent andpromptly deliver rcceipts therefor to beneÍiciary; should the þrantor Íail to ;z:.ake payment oI any taxes, assessmenfs, insurance premiutns,Iiens or other charþes payable by lrantor, eìther by direct payment or by providinþ beneliciary with Íunds with which to make such pay-ment, beneÍiciary may, at its option, make payment thereoÍ, and the a¡¿¡.ount so paid, wìth ìnterest at the rate set lorth ìn the notesecured hereby, toþether wìth the obliþations described in paraþraphs 6 and 7 oÍ this tîust deed, shall be added to and. becotne a part oÍthe debt sec-ured. by this trust deed, without waiver oÍ any tiþhts arisin¿ Írom breach oI any of the covenants hereol and for sucå payments,with interest as aforesaid, the property hereinbeÍore descrìbed, as well as the þrantor, shall be bound to the same extent that they arebound tor the payment oI the obliþation hetein descrìbed, and all such payments såal/ be inmediately due and payable without notice,and the nonpayment thereoÍ shall, at the option of the betæÍiciary, render aI1 sums secttred by this trust deed immedìately due and pay-able and constìtute a breach of this trust deed.6. To pay all cosfs, Íees and expenses oI thÍs trust ìncludìnþ the cost oÍ title searcå as well as the other cosfs and expenses ol låetrustæ incurred in connection with or in enÍorcÍnþ this obliþatìon and trustee's and attorney's Íees actually incurred.7, To appear in and defend any action or proceedÍnþ purportinþ to aftect the searity tiþhts or powers oÍ beneliciary or trustee;and in any suit, actìon or proceedìn! ìn whìch the beneÍiciary or trustee may appar, includin! any suit Íor the íoreclosu¡e of this deed,to pay all cos/s and expenses, includin¿ evìdence oÍ title and the beneficiary's or úrusfee's attorney's íees; the amount oI attorrey's Íeesmentioned in thÍs paraþraph 7 in a,l/ cases shall be Íìxed by the tilal court and Ín the event oI an appeal lrom any judþment or d.ecreø oÍthe trial cdtrt, érantor Íurther aéîees to pay such sum as the appellate court shall adjud(e reasonable as the beneÍiciary's or úrusúee's af-torney's fees on such appeal,It ìs mutually aéîeed that:8. In the event that any portion or all oÍ the property shall be taken under the ri¿ht oÍ er;r:.inent domaìn or condemnation, bene-Iicìary shall have the iêht, iÍ if so elecfs, to require that all or any portion oî the monies payable as conpensaúion lor such takin!,NOTE: The Trust Deed Acl provides thot the lruslee hereunde¡ must be eilhe¡ on ottornêy, who is on oclive membe¡ of the Oregon Stote Bor, o bonk,lrust compony or sovings ond loon ossociotion oulhorized to do business under lhe lows of Oregon or the Uniled Stotes, o l¡lle insuronce compony oulho-rized to insure title to reol property of th¡s stale, its subsidiories, offiliotes, qgenls or brcnche:, tho United Slotes or ony ogoncy thereof, or on .¡crowogent licensed under ORS ó9ó.505 to ó96.585.TDI ICl ¡¡EE¡¡ıı ¡ıñ ^F ^FF^^rt
-r:'I12. upondelault by êrantof rn payment ot any tndeoteaness secured neÍeDy or tn erantor a perrarmancc or arty agreeutcrtl rtcrcurtuct ' .ttttcbeinþ of fIrL essence wiih-respect to wch payment andlor perlormance, the beneÍiciary may declare all sums secttred hereby immediatelydue-and payable. In such an event the beneÍiciary may elect to proceed to Íoreclose fåis frusf deed in equity as a mortéae,e or dìrect thetrustee tò ioreclose fhis frusú deed by advertisement and sale, oÍ may direct the trustee to pursue any other tiþht or remedy, eitheî atlaw or in equity, which the beneÍiciary may have. fn the event the beneÍiciary elects to foreclose by advertisement and sale, the bene-Iiciary or thL tiustee shall execute and cause to be recorded a wrìtten notice oÍ delault and election to sell the property úo safisfy the oblila-tion secured hereby whereupon the trustee shall fix the time and place of sale, þive notice thereoÍ as then required by law and proceedto Íoreclose fåis frusf deed in the manner provided in ORS 86.735 to86-795.13. AÍter the trustee has commenced. Íoteclosure by advertisement and sale, and at any time prior to 5 days before the date thetrustee conducts the sale, the érantor or any other person so privileled by ORS 86.75j, may cure the deÍault or deÍaults. Il lhe delaultconsjsfs oI a Íailure to pay, when due, sums secured by the trust deed, the delault may be cured by payin{ the entire amount due at thetime oÍ the cure other lhan such portion as would not then be due had no deÍault occurred. Any other deÍault that is capable of bein{cured may be cured by tenderinþ the perÍormance required under the obli¿ation or trust deed. In any case, in addition to curinþ the de-Íault or'delaults, the petson eiÍectin! the cure shall pay to the beneÍiciary all cosfs and expenses actually inørred in enÍorcin¿the obliþation oÍ the trust deed topether with trustee's and attorney's lees nof exceedinp the amounts provided by law.l4l Otherwise, the sale shall-be held on the date and at the time and place desi¿nated in the notice ol sale or the time to whichthe sale may be postponed. as provìded by law. The trustee may sell the property either in one parcel or in separate parcels and shall sellthe parcel or paicels at auctiotn to the hiþhest bìdder Íor cash, pay'able at the time of sale. Trustee shall deliver to the purchaser its deedin qorm as required by law conveyin! the property so so,ld, but without any covenant òr warranty, express or implied. The ¡ecilals in thedeed oÍ any matters of Íact shall bè corclusive prooÍ oÍ the truthÍulness /åereof. Any person, excludinþ the trustæ, but includìnp theérantor and beneficiarl, maf purchase at the sale.15. When frusúee sel/s jursuant to the poweß provìded herein, trustee shall apply the proceeds oI sale to payment of (1) the ex-penses ol sale, includinþ the compensation oÍ the trustee and a leasonable charþe by trustee's attorney, (2) to the obli¿ation æcured. byihe trust deed, (3) to ail persons havinþ recorded ,liens subsequent to the interest oI the trustee in the trust deed as their interests mayappear in the otder of their priority and (4) the surplus, iÍ any, to the þrantor or to any successor in interest ent;tled fo sucå surplus.16. Beneticiary may Írom time to time appoint a successor or successors to any tÍustee named herein or to any successor lrusfeeappointed hereund.er. upon such appointment, and without conveyance /o /åe successor trustee, the latter shall be vested wìth all title,ji*"r" and duties conferred. upon any trustee herein named or appointed hereunder, Each such appoìntment and substitution shall beàade by written instrument executed by beneficiary, which, when recorded in the morteaþe records oI the county or counties in which theproperty ìs situated, shall be conclusiwe præÍ of proper appointment of fåe successor trustee,' li. Trustee accepts låis rrusf when this deed, duly executed. and acknowledêed, is made a public record as provided by |aw. Trusteeis not obti(ated to notiÍy any party hereto of pendinþ sale under any other deed oI trust or of any action or proceedin¿ in which Prantor,beneÍicìary or trustee shall be a party un,less sucå action or proceedinþ is brouþht by trustee.The prantor covenants and aþrees to and with the beneficiary and the benelicìary's sccesso¡ in interest that the élantoî is lawfullyseízed in Íæ simple oI the real propetty and has a valid, unencumbered title theretoand that the þrantor will watrant and Íorever deÍend the same aéainst all persons whomsoevet.The lrântor warrants that the _o¡oceeds oI the loan represented by the above described note and fhis frusl deed are:(a)xþrimaríly Íor þrantor's peisonal, Iamily or househoid puÍposes (see Important Notìce below),(n) Io, an or¿anizàtìon, or (even iÍ þrantor is a natural ærson') are Ior business or commercial purposes.ihis deed "pp1i." to, inures to the benelit of and bir¡ds all parties hereto, their heirs, Ieþatees, devisees, administrators, executors,personal representafives, successors and assi4¡ns. The term beneficiary shall mean the holder and owner, irrcluding pledþee, oI the contractsecured hereby, whether or not named as a beneÍiciary hereinInconiiruin¿ this trust deed, il is undersfood that the érantor, trustee andfor beneficiaty may eachbe more thanone petson; thatiÍthecontext soreäri¡es, thesingularshallbetakentomean-andincludetheplural,andthatþenerallyalt¿rammaticalchan(ésshallbemade, assumed and implìed to make the provisìons hereot apply equally to corporatìons and to individuals-IN WITNESS I(¡IEREOF, the þrantor has executed this ithe day and yeat [irst above written.* lrr^PORTANT NOTICE: Delete, by lining out, whichever worronly (ol or (b) isnot opplicoble; if worronty (ol is opplicoble ond the beneficiory is o crediloros such word is defined in tlre Truih-in-Lending Act ond Regulotion Z, thebeneficiory MUSÍ comply with the Act ond Regulotion by moking requireddisclosures; for this purpose use Slevens-Ness Form No.1319, or equivolenl.lf complionce with the Act is not required, disregord thís notice.Counly, orcgdRecordedCIAL RECORDSbyuN 2 i 1996DATED:STATE OF OREGON, County oÍacknowlþed beforc me onThis instrument was acknowledþed before me onbyasor1s.?ú..,19 ,Ézq Z-Íor OreþonMy comrnission expires ...-2REQUEST FOR FUtt RECONVEYANCE (To be used only when obligotions hove been poid.), TrusteeThe undersiEned is the )e¡al owner and holder of all indebtedness secvred by the Íore(oiné trust deed. AII sums secured by the trustdeed have been Íully paid and saúisfied. You hereby are directed, on payment to you oI any surns owin! to you under the terms oÍ thetrust deed ü pursuant to statute, to cancel all evìdences ol indebtedness secured by the trust deed (which are delivered to you herewìthtopether with the trust deed) and to reconvey, without waÍranty, to the pa:ties desipnated by the terms of the trust deed the estate nowheld by you under the same. Mail reconveyance and doctments to ..TO19Do nol lose or destroy this Trust Deed OR THE NOTE which it secures'Eoth musl be delivered lo the lruslee for concellolion beforereconveyonce will be mode.,f.