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HomeMy WebLinkAboutL_Deed_of_Trust_080326.pdfWhen recorded return to: Erik Dornttaier 2822 - l2th Ave. W. Seattle, WA 98119 R, a, a, --I uVty IJ -VV -- Filed for Record at Request of: Craig D. Thieibar, Attorney at Law DEED OF TRUST 7q() ( For use to the State of Washington only) THIS DEED OF TRUST, made this 24th day of March, 2008, between ROBERT D WILSON and DORAVIN A. WILSON, husband and wife as GRANTOR(S), whose address is 720 So. 55th St- Rrnton, WA 98055 and COMMONWEALTH LANF M—E as TRUSTEE, whose address is 14450 N,E29th Pl., Ste. 200Bellevue. WA 98007 and ER13C_D M n a erso and 7OH1Y l I-IN5ON a m hi se to estate as BENEFICIARY, whose address is 2822 -12th Ave. W., Seattle, WA 98119_ WITNESSETH: Grantor(s) her by bargain(s), sell(s), and conveys) to Trustee in trust, with power of sale, the following described real property in King County, Washington: Parcel 3, King County Short Plat No_ 674217, recorded under lording No 7603170525, in King County, Washington. Abbreviated Legal: (Required if full legal not inserted above.) Sa}t +acrlt t± ¢s were filed for record Tax Parcel Number(s): 312305-9125.02 by Commonwealth Land Title aS accommodation only. It has not been examined as to proper execution or as to its effect u l - which real property is not used principally for agricultural or farming purposes, tog all the tenements, hereditaments, and appurtenances now or hereafter thereunto belonging or in any wise appertaining, and the rents, isrars, and profits thereof. This Feed of Trust is for the purpose of securing performance of each agreement of Grantor(s) contained in this Deed of Trust, and payment of the sum of FORTY THOUSAND AND N01100 Dollars ($40,000.00) with interest, in accordance with the terms of a promissory note of even date herewith, payable to Bcneficiary or order, and made by Grantor{s), and all renewals, modifications, and extensions (hereof, and also such further sums as may be advanced or loaned by Benc5ciary to Granior(s), or any of Gran(or(s)' successors or assigns, together with interest thereon at such sate as shall be agreed upon. DUE DATE: The enure balance of the promissory note secured by this Deed of Trust, together with any and all interest accrued thereon, shall be duc and payable in full on March 26, 2011 To protect the security of this Deed of Trust, Grantors) covenants) and agrm(s): 1. To keep the property in goad condition and rcpair; to permit no waste thereof; to complete any building, stnuclure, or improvement being built or about to be built thereon; to restore promptly, any building, stricture, or improvement thereon which may be damaged or destroyed; and to comply with all laws, ordinances, regulations, covenants, conditions, and restrictions affecting the property. 2. To pay before delinquent all lawful taxes and asaessments upon the property; to keep the property free and LPB 22A -05(i-1) Page 1 of 3 of all other charges, liens, or encumbrances impairing the security of this Decd of Trust. 3. To keep all buildings now or hereafter erected on the property described herein continuously insured against loss by fire or other hazards in an amount not less than the total debt secured by this Decd Of Trust. All policies shall be held by the Beneficiary, and be in such companies as the Reneficiary may approve and have loss payable first to the Beneficiary, as its interest may appear, and then to the Grantor(s). The amount collected under any insurance policy may be applied upon any indebtedness hereby secured is such order as the Beneficiary shall detennine. Such application by the Beneficiary shall not cause discontinuance of any proceedings to foreclose this Deed of Trust. In the event of foreclosure, 211 rights of the Grantor(s) in insuranoe policies then in force shall pass to the purchaser at the foreclosure sale 4. To defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and to pay a]I costs and expenses, including cost of title search and attorney's fees in a reasonable amount, in any such action or proceeding, and in any suit brought by Beneficiary to foreclose this Deed of Tnist. 3. To pay all costs, fees, and expenses in connection with this Deed of Trust, including the expenses of the Trustee incurred in enforcing the obligation secured hereby and Trustee's and attorney's fees actually incurred, as provided by statute. 6- Should Grantors) fail to pay when due any taxes, assessments, insurance premiums, liens, encumbrances, or other charges against the property hereiukove described, Beneficiary may pay tha same, and the amount so paid, with interest at the rate set forth in the note secured hereby, shall be added to and become a part of the debt secured in this Deed of Trust. 7. DUE ON SALE- (OPTIONAL — Not applicable unless initialed by Grantor and Benefrmary) The property described in this scctttity instrument may not be sold or transferred without the Beneficiary's consent. Upon breach of this provision, Beneficiary may declare all sums due under the nate and Deed of Trust immediatelydueand payable, unless prohibited by applicable law. J.. " f Grantor (initials) Beneficiary(Initials) 1T IS MMALL'Y AGREED THAT: 1. in the event any portion of the property is taken or damaged in an eminent domain proceeding, the entire amount of the award or such portion astray be necessary to fully satisfy the obligation secured by this Deed of Trust shall be paid to Beneficiary to be applied to said obligation, 2. By accepting payment of any sum muted by this Deed of Trust after its due date, Beneficiary does not waive its rigItt to require prompt payment when due of all other sums so secured or to declare default for failure to so pay. 3. The 'I'mstee shall reconvey all or any part of the property covered by this Deed of Trust to the person entitled thereto, on written request of the Grantor(s) and the Beneficiary, or upon satisfaction of the obligation secured and written request for reconveyance made by the Beneficiary or the person entitled thereto. 4 Upon default by Grantor(s) in the payment of any indebtedness secured by this Deed of Trust or in the performance of any agreement contained in this Deed of Trust, all sums secured hereby shall immediately become due and payable at the option of the Beneficiary subject to any cure period provided in the note secured by this heed of Trust.. In such event and upon written request of Beneficiary, Trustee shall sell the trust property, in accordance with the Deed of Trust Act of the State of Washington, at public auction to die highest bidder. Any person except Trustee may bid at Trustee's sale. Trustee shall apply the proceeds of the sale as follows: (1) to the expense of the sale, including a reasonable Trustee's fee and attorney's fee; (2) to the obligation secured by this Deed of Trust; and (3) the surplus, if any, shall be distributed to the persons entitled thereto. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which shall convey to the putchaser all right, title and interest in the real and personal property which Grantor(s) had or had the power to convey at the time of the execution of this Dccd of Trust, and such as Grantor(s) may have acquired thereafter- Trustee's deed shall recite the facts showing that the sale was conducted in compliance with all the requirements of law and of this Deed of Trust, which recital shall be prima facie evidence of such compliance and conclusive evidence thereof in favor ofbona fide purchaser and cncumbrancers for value. 6 The power of sale conferred by this Deed of Trust and by the Deed of Trust Act of the State of Washington is not an exclusive remedy; Beneficiary may cause this Deed of Trust to be foreclosed as a mortgage. In The event of the death, incapacity, disability, or resignation of Trustec, or at the discretion of the Beneficiary, Beneficiary may appoint in writing a successor trustee, and upcn the recording of such LPB 22A -05(i-1) Page 2 of 3 LVv--1 -- I - appointment in the mortgage records of the county in which this Deed of Trust is recorded, the successor trustee shall be vested with all powers of tire original trustee. The trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust er of an action or proceeding in which Grantor(s), Truslea, or Beneficiary shall be a party unless such action or proceeding is brought by the Trustee. 8. This Deed of Trust applies to, inures to the benefit of, and is binding not only on the parties hereto, but an his/her/their heirs, devisees, legatees, administrators, executors, and assigns. The teen Beneficiary shall mean the holder and owner of the note secured hereby, whether ox not named as Beneficiary herein. 9. ADDITIONAL TERMS AND CONDITIONS: (check one) a. (X) None b. ( ) As set forth on the attached Exhibit which is incorporated by this reference. Note If neither "a" nor "b" is checked, then option "a" applies.) ROBERT D. WILSON DORAViN A. WILSON STATE OF WASHINGTON ) ss. COUgTY OF KING ) I certify that 1 know or have satisfactory evidence that Robert D- Wilson and Doravin A. Wilson are the persons who appeared before me, and said persons acknowledged that they signed this itutrument and acknowledged it to be their free and voluntary act for the uses and purposes mentioned in the instruntenE. DATED: _ c & L66 Pritu i R D. Tltielbar NOTARY PUBLIC in and for the State of Waskurigton, residing at Puy3llup— My Commission Expires, 9/30/2009 REQUEST FOR FULL RECONVEYANCE - Do not record. To be used only when note has been paid. Ta TRUSTEE The undersigned is the legal owner and holder of the note and all other indebtedness secured by the within Deed of Trust. Said note, together with all other indebtedness secured by said Deed of Trust, has been fully paid and satisfied; and you are hereby requested and directed, on payment to you of any sums owing to you under the terms of said Deed of Trust, to cancel said note above mentioned, and all other evidences of indebtedness secured by said Deed of Trust delivered to you herewith, together with the said Deed of Trust, and to recanvey, without warranty, to the parties designated by the terms of said Deed of Trust, all the estate now held by you thereunder Dated: L.PB 22A -65(i-1) Page 3 of 3