HomeMy WebLinkAboutL_SP_Exceptions_02_030403_American_Title_v1.pdfRETURN ADDRESS:
CHARTER BANK
LOAN SERVICES
DEPARTMENT
6703 S. 234TH STREET,
SUITE 100
KENT, WA 98032
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DEED OF TRUST iST AAS
DATE: April 29, 2003
Reference # (If applicable) 100013390 Additional on page
Grantor(s).
1 FLASHERS LLC, a Washington Limped Liability Company
Grantee(s)
1 CHARTER BANK
2 FIRST AMERICAN TITLE INSURANCE COMPANY, Trustee
Legal Description- LOT B, SP 094-85, REC 8602269002 Additional on page 2
Assessor's Tax Parcel ID# 125380-0015-08
THIS DEED OF TRUST is dated April 29, 2003, among FLASHERS LLC, A Washington Limited
Liability Company, whose address is 2701 EAST VALLEY ROAD, RENTON, WA 98055
("Grantor"); CHARTER BANK, whose mailing address is BELLEVUE OFFICE, 10885 NE 4TH
STREET, SUITE 100, BELLEVUE, WA 98004 (referred to below sometimes as "Lender" and
sometimes as "Beneficiary"); and FIRST AMERICAN TITLE INSURANCE COMPANY, whose
mailing address is 2101 FOURTH AVENUE, SUITE 800, SEATTLE, WA 98121 (referred to
below as "Trustee").
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DEED OF TRUST
Loan No: 100013390 (Continued) Page 3
Duty to Protect Grantor agrees neither to abandon or leave unattended the Property Grantor shall do all other acts, in
addition to those acts set forth above in this section, which from the character and use of the Property are reasonably
necessary to protect and preserve the Property
DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, (A) declare immediately due and payable all
sums secured by this Deed of Trust or (B) increase the interest rate provided for in the Note or other document evidencing
the Indebtedness and impose such other conditions as Lender deems appropriate, upon the sale or transfer, without Lender's
prior written consent, of all or any part of the Real Property, or any interest in the Real Property A "sale or transfer" means the
conveyance of Real Property or any right, title or interest in the Real Property, whether legal, beneficial or equitable, whether
voluntary or involuntary, whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold
interest with a term greater than three (3) years, lease -option contract, or by sale, assignment, or transfer of any beneficial
interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the
Real Property If any Grantor is a corporation, partnership or limited liability company, transfer also includes any change in
ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company
interests, as the case may be, of such Grantor However, this option shall not be exercised by Lender if such exercise is
prohibited by federal law or by Washington law
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust
Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments,
charges (including water and sewer), fines and impositions levied against or on account of the Property, and shall pay
when due all claims for work done on or for services rendered or material furnished to the Property Grantor shall
maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust,
except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of Trust
Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith
dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized If a lien arises or is
filed as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen
(15) days after Grantor has notice of the filing, secure the discharge of the hen, or if requested by Lender, deposit with
Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient to
discharge the lien plus any costs and attorneys' fees, or other charges that could accrue as a result of a foreclosure or
sale under the lien In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before
enforcement against the Property Grantor shall name Lender as an additional obligee under any surety bond furnished
in the contest proceedings
Evidence of Payment Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or
assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement
of the taxes and assessments against the Property
Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any
services are furnished, or any materials are supplied to the Property, 0 any mechanic's lien, matenalmen's lien, or other
lien could be asserted on account of the work, services, or materials and the cost exceeds $1,00000 Grantor will upon
request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay the cost of
such improvements
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of
Trust
Maintenance of Insurance Grantor shall procure and maintain policies of fire insurance with standard extended
coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real
Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in
favor of Lender Grantor shall also procure and maintain comprehensive general liability insurance in such coverage
amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability insurance
policies Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, business
interruption, and boiler insurance, as Lender may reasonably require Policies shall be written in form, amounts,
coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to
Lender Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance
in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least
ten (10) days prior written notice to Lender Each insurance policy also shall include an endorsement providing that
coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other
person Should the Real Property be located in an area designated by the Director of the Federal Emergency
Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, d
available, within 45 days after notice is given by Lender that the Property is located in a special flood hazard area, for the
full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy
limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
insurance for the term of the loan
Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property ff the estimated
cost of repair or replacement exceeds $1,000 00 Lender may make proof of loss if Grantor fails to do so within fifteen
(15) days of the casualty Whether or not Lender's security is impaired, Lender may, at Lender's election, receive and
retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien
affecting the Property, or the restoration and repair of the Property If Lender elects to apply the proceeds to restoration
and repair, Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender
Lender shall, upon satisfactory proof of such expenditure, pay or reimburse Grantor from the proceeds for the
reasonable cost of repair or restoration if Grantor is not in default under this Deed of Trust Any proceeds which have
not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of
the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued
interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness If Lender holds any
proceeds after payment in full of the Indebtedness, such proceeds shall be paid without interest to Grantor as Grantor's
interests may appear
Grantor's Report on Insurance Upon request of Lender, however not more than once a year, Grantor shall furnish to
Lender a report on each existing policy of insurance showing (1) the name of the insurer, (2) the risks insured, (3)
the amount of the policy, (4) the property insured, the then current replacement value of such property, and the manner
of determining that value, and (5) the expiration date of the policy Grantor shall, upon request of Lender, have an
independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the
Property or if Grantor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not
limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Dead
of Trust or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender
deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and
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Lit paim0w sasuedxa pe ylim 1e111960; 'moleq pequosep se 'sexej Ile iol lepueg asmgwiai pegs 3olue3O Apadad
lest' 941 uo uaq s,lepuag enuquoo pus lopped of lapue-1 Aq pelsenbei st uoilom laylo lanaleym asks pup lsnil;0 pea(]
si11101 uoiUppe w siuewnoop Lions a;noexe Ileys 3owsiO 'lepue-1 Aq Isenbei uodn •sa63eyO pue saga 'saxel 3uaiinO
isnil;o papa sill jo ped a ale se639Li3 pue sea; 'sexes I141.19wwaA06
of 6wlelei suoisinoid Bwmollo; eql S3I.Llu lnV-IVIN3WNU3AOJ A8 S30WHO CNV S33d 'S3XV1 d0 NOIlISOdWI
uoilmuwepuoo 9yi 11pm uo1loquuo0 ui lapu0-1 to
ealsnil Aq paiinow seel,sAaujoUe pue'sesuedxe'slso0 elgsuoseem lie to luawAed loge pieme eq; ueew (legs Pimp eyi
;o spaaowd leu eyl Apad03d ay110 L1011Mlsei to nedei eye io sseupelgepul 0Lil of pegdde aq pieme eLg jo speeowd
leu at# jo uoipod Aue to pe Imil eimbei uoaioele sit le Am lapue-I 'uogeuwepuoo ;o nail w eseywnd to Bwpa9owd
Aue Aq to s6wpeeowd wmwop lueuwwa Aq peuwepuoo si ApedWd eqj jo ped Aum to Ile 11 •spaaoad ION jo uolieollddV
uogedioilied
Loris jiwied of ewi; of awi; woij iepue-1 Aq pelsenbei eq Asw ss uoil%uewnoop pus swatunilsw Lions iepue-1
01 Palangap eq of esnso to 3angep Ilim lolusi0 pus 'eeuadxo s,lolusm0 le Ile e0ioyo umo sit jo lesunoo Aq Bwpeeowd eqj
w pewaseidei eq of pup 6wpee0wd aq; ui elsdioiped of pegque eq pegs lapue-1 inq 'Bwpeeowd Lions ui Aped lewwou
0111 eq Am 3ojmE) pisme 9LO welgo pue uogoe eLp pue;ep 01 Aiessaopu aq Amw se sdels Lions ailel A14dwold pet's
lolueiD pue '6uqum w lepueg Apsou Apdwad IIeLis lolue30 'palq si uomisuwapuoo w Bwpaeomd Aum 11 •s6wp9a00id
ism! to pea(] sig! ;o ped a ale s6wpeeowd u01leuwepu00 016w;elai si0lalAoid 6wmollol OLLL NOIlVNW3CNOO
Iln; w pied eq (lugs ssaupalciapul s,lolusi0 se awil Lions Alun begs pus eolol Iln; ui wewai
pet's pus'einjeu w Bwnuiwoo eq pegs'lsml;o peso si11j;o Alamlep Pug u0gn06xa OLD amnins IpLis lsnil;o papa
sigl w lolusm Aq apew sjuawew6e pue 'seilueiimm 'suoge;ueseidai IM sapueileM Pus suolleluasaiday ;o IenfNns
saquoylne MuewwanoB to suoileln6ei pus 'seouewpio 'smel elgeoqdde
6ugsxe pe wm seilduw0 Apadoid egi;o asn s,lolue30 pus AUOdoid ay; IsLij sjusliem lowel0 •smen y1cM e0uegdwoO
uoiledi0iped Lions liuued of ewil of swill waj lsenbei Aew lapue-1 se sluewnilsw Lions lepue-I ol'pelanilep eq of asnso
JO 'lanileP Ilam lolue30 pus 'aOioLio umo s,lepu91 to lesunoo Aq 6wpaaooid et'; w pe;uesaidei eq 01 pus Bwpapowd
ay; w ejediogied of pa14que eq Ilsgs lepueg inq '6wp0aooid gons w Aped lewwou eLil eq Am 3owe3O esuedxe
s,lolue30 le uogoe ay; puejep Ilsgs ioluel!D 'lsnil;o pea(] siLa lapun lapueg to eelsnil;o lsalalui eqj to Olid s,i0w i0
suoilsenb;eg; peouawwoo si 6wpea0old io uoilos Aue lueAe eyl ul suosied Ile to swiel0 Inlmel eyl;sUle6s Apedad 0Li3
01 eWl eqj pue;ep lanalol pim pus slueLem 303umi!D 'anoge Lidei6sied et'; ui uogdeoxe eqj o; loefgnS '01111 to asua;aC
lepueg of jenil;o pea(] SILU langaP pus einoexe of Aluoylns pue'lemod 'jg0u Iln; eq; seg lolu ug (q) pup 'Isnil;o
Pea(] si11; Li;im uoiloeuuoo w lepue-1 'Aq paldame pup 'jo ions; w penssi uomido elpi leug lo'jmdai allil'Aoilod a0ummsul
allis Aue ui to uogduosep Apedwd ILOH 941 w Lipo; las esoyl uegl leLao seoumigwnoue pus suail Ile 10 leap pup
eei;'eldwis eel w AUadwd eyl 01 P100ai;0 0144 elgelaMiew pus pooh sploq lojueiE) (s) Ima s;ueilem lolusmE) aUll
;snit
;o peep sigj jo lied a ale Appdoid a111 10 digsieumo of Bwlelai suoisinoid Bwmollol agl 31111 d0 3SN3d3C 'AlNVUUVM
lln%ea uodn pagque eq Am lapual goigm of saipaww pup s q6u 3auio pe of uogippe
Lit aq 110gs lg6u gong siunowe esegl;o luewAmd emoes Ilim osle;sml;o pea(] ayl AjunjLw s,e10N eye im elgeAed pus anp
eq Ilim golgm juawAsd uoolimq a ea peleeil eq (0) WGION eL4;0 wiei BUIUIBW W agl (Z) lo'Aogod eoueinsui elgeoqdde Aue
;o Lwel eqj (i) leylte Buunp anp awooeq of sivawAed luawlleisw Aue Lilim elgeAed aq pus 6uowe pauoipodds eq pue al0N
ay; ;o aoueleq eqj of peppe eq (g) 'puewap uo algeAmd aq (V) Ilim'uoildo s,lepue-1 is'pus sseupelgepul egi;0 ped e
ewooeq Ilam sesuedxe Lions IIV lolumio Aq ivawhdai;o alsp eqj of lapuag Aq pied to peiinow elep 9111 wwl elON ag; lapun
peBmict Ojai eqj its isojejui leoq ueyl Ilam sesodind gons lol iepue-1 Aq pisd to paimoui sainlipuedxe Lions IIV Apedwd
egl 6umiesaid pup 6umieluim '6uunsw lol slsoo pe 6ulAed put, Apedwd ay; uo peoeld to pamal awq Am is 'sweep laylo
V abed (pallid;uo3) 06££LOOK :ON ue0I
imui 40103310
DEED OF TRUST
Loan No: 100013390 (Continued) Page 5
documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect,
continue, or preserve (1) Grantor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2)
the liens and security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned
or hereafter acquired by Grantor Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall
reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph
Attorney -in -Fact If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for
and in the name of Grantor and at Grantor's expense For such purposes, Grantor hereby irrevocably appoints Lender
as Grantor's attomey-in-fact for the purpose of making, executing, delivering, filing, recording, and doing all other things
as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in the preceding
paragraph
FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed
upon Grantor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall
execute and deliver to Grantor suitable statements of termination of any financing statement on file evidencing Lender's
securely interest in the Rents and the Personal Property Any reconveyance fee shall be paid by Grantor, if permitted by
applicable law The grantee in any reconveyance may be described as the "person or persons legally entitled thereto", and
the recitals in the reconveyance of any matters or facts shall be conclusive proof of the truthfulness of any such matters or
facts
DEFAULT Default will occur if payment in full is not made immediately when due
RIGHTS AND REMEDIES ON DEFAULT If Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender
may exercise any one or more of the following rights and remedies
Election of Remedies Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an
election to make expenditures or to take action to perform an obligation of Grantor under this Deed of Trust, after
Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies
Accelerate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness immediately due
and payable, including any prepayment penalty which Grantor would be required to pay
Foreclosure. With respect to all or any part of the Real Property, the Trustee shall have the right to exercise its power of
sale and to foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either
case in accordance with and to the full extent provided by applicable law
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of
a secured parry under the Uniform Commercial Code
Collect Rents Lender shall have the right, without notice to Grantor to take possession of and manage the Property
and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's
costs, against the Indebtedness In furtherance of this right, Lender may require any tenant or other user of the Property
to make payments of rent or use fees directly to Lender If the Rents are collected by Lender, then Grantor irrevocably
designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of
Grantor and to negotiate the same and collect the proceeds Payments by tenants or other users to Lender in response
to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds
for the demand existed Lender may exercise its rights under this subparagraph either in person, by agent, or through a
receiver
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the
Property, with the power to protect and preserve the Property, to operate the Property preceding or pending foreclosure
or sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the receivership,
against the Indebtedness The receiver may serve without bond if permitted by law Lender's right to the appointment
of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial
amount Employment by Lender shall not disqualify a person from serving as a receiver
Tenancy at Sufferance if Grantor remains in possession of the Property after the Property is sold as provided above or
Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a
tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (1) pay a
reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the demand of Lender
Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or
by law
Notice of Sale Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal
Properly or of the time after which any private sale or other intended disposition of the Personal Property is to be made
Reasonable notice shall mean notice given at least ten (10) days before the time of the sale or disposition Any sale of
the Personal Property may be made in conjunction with any sale of the Real Property
Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all rights to have the
Property marshalled In exercising its rights and remedies, the Trustee or Lender shall be free to sell all or any part of the
Property together or separately, in one sale or by separate sales Lender shall be entitled to bid at any public sale on all
or any portion of the Property
Attorneys' Fees, Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust,
Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon
any appeal Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable
expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the
enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note
rate from the date of the expenditure until repaid Expenses covered by this paragraph include, without limitation,
however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or not
there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or
vacate any automatic stay or injunction), appeals, and any anticipated post -judgment collection services, the cost of
searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, title
insurance, and fees for the Trustee, to the extent permitted by applicable law Grantor also will pay any court costs, in
addition to all other sums provided by law
Rights of Trustee Trustee shall have all of the rights and duties of Lender as set forth in this section
POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee
(pursuant to Lender's instructions) are part of this Deed of Trust
Powers of Trustee In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take
the following actions with respect to the Property upon the written request of Lender and Grantor (a) loin in preparing
and filing a map or plat of the Real Property, including the dedication of streets or other rights to the public, (b) join in
granting any easement or creating any restriction on the Real Property, and (c) join in any subordination or other
suosiad 1943o pe pue 'Auudwoo Algigeil peUwl vol6ugseM e'01-1 SH3HSV"Id sueaw dGMOAog„ PIeM 041 •laMOJiOS
subisse Pus siosseoons sit pue 'NNV9 831HVHO sueaw „Alegi;aumg, pi0m eq1 'Aimor;auag
"Poo Iaiaewwoo wio;wn eq1 ui swim. 4ons
of palnqugg s6uweaw aql enen reqs lsnil;o peep etgl a pouilep asiWe4lo lou sw"l pus spioM ennbai Amu Ix"luoo ail;
se 9eln6us eLii epnpui pe4s lainld eg1 PUB'Iginid aql epnlow pegs IelnBus eq; ui pasn swam. Pus spioM aouewV;o saimS
Pawn a41 ;o Aeuow Inlmgl ui slunowe ueew pe4s munowe iapop of seou"im;mi lie'Aiwluoo mol of palms Alleogioeds ssalun
isnil;o peea sigl ui Pesn uagm s6uweaw 6uimollo; enl eAeq Reqs smei pue spiom pezilelidgo 6uimollo; eLii SNOI11NUM
;swl )o Pea(] sig. Aq painoes sseupeAmpul pe o. se uol6uigsoMjo m m.9 eq; ;o sinal uoydwexe
peelsewog eLii ;o splmuaq pue s44611 Ile seAMM pug sesealea Ageieq lolueio uoildwax3 pealsawOH ;o jaAIeM
1sniJ,;o peep sit;;o aoueuuoliad agl ui eouesse aql;o si ewil aousss3 eLii;o sl awrl
sseupelgepul eta iapun Aliligeil to len{L;o Pee(] sigl;o suoile6ilgo eLii woi; iolueto 6uissalej
;nogym uoisua;xe to Boupieegio; to Aam Aq sseupCigapul en; Pus Isnil ;o paaa sap o. e0uaje;Bi qLm siossecons
slolugio 41IM leap Aaw 'loluele 01 awl0u Ino41im'iepual 'lolueto Lima leglo uosied a u pmseA sewooeq Aliedwd eta
;o digsaeumo;I suBisse Pus sioss000ns iieLp'sailied aLil;o ai;auaq agi 01 einui Pus uodn Wpuiq eq hags lsnil;o pea(]
sitp'lsalelw sdoluelo;o la;suaii uo;snil;o Pae(] sig. w Palms suogalwg Aug of loafgnS •su6rssV Pus siossaoonS
isml;o pea(] sig. ;o uoismad largo Aug ;o Mliqueolo;um t0 ApPIIOA'A4iIe6aI et; 106Ne lou pens.swl;o Pae(] si41
;o uoissnwd Aug ;o Appgaamo;ueun to 'A ipila w 'A;ge6alp eel 'mel Aq pannbei asmuetao ssalun lswJ.;o peva si41 woi;
pelelep paiepisuoo eq Reqs it 'pegipow os eq louueo uoismoid 6uipumio eni li olgeeolo;um Pus pgeA 'IeBel sewooeq
U igna os pagipow p"lapisuoo eq pets UOIS Awd 6utpua4o e41 'algisum 11 eouelswnw o ia44o Aug of Be algaawo;uaun
to 'pgenui Ilabepi uoismoid Bwpuego eLii e>Iew lou pe4s 6wpug 1041 'eoumswnwio Aug of sa elgaawo;ueun
io 'pilenw 'Ie6alP eq o; ;snit to papa sigl ;o uoismoid Aug spur; uorjapsunf lumedwoo ;o lino a 11 'AllllgelanaS
lepual;0 u0118t0sip elos eta w PIa441im to paluei6 eq Aew
luasuoo Lions seego Ile w pug pwinbei si luasuoo 4ons eimgm seouelsu luenbesgns of luasuoo 6unuluoo ainlilswo lou
IIe4s aoumsu Aug ui iapuel Aq luasuoo 4ons;o 6uguet8 egl';snil;o pea(] sigi iapun pennbei si lapual;0 luasuoo aqi
IaneuegM suogoasuwl emin; Aue of se suogeBggo s,loluelo;o Aug ;o io s146u e,lapuCl;o Aug ;o lemam a ainlgsuoo
ile4s 'lo;ua/o pue lepue-1 uagm;eq 6ugaap;o asinoo Aue lou 'lapua,7Aq lanrem loud oN ;snil;o papa srg;;o uorsmoid
iaq.o Aug to uoisiAoid jvgj Ulm e0ueildwo3 Souls puawap of esiwaglo lg6u s,lapue-I to lamem B eln;i;suo0 to aoipnfeid
lou Ileus lsnil;o pee(] si4l;o uoisiAoid a;0 lepue-I Aq lameM V 146u teglo Aug to ig6ii Lions 10 IaAiaM a se eletedo
IIe4s 146u Aug 6ustolexe ui lapual;o lied aql uo uoissiwo to Aalep ON lepual Aq peu619 pue BUIiuM w u9m6 si IaAIBM
Lions ssalun Isnil ;o peep sill iapun slg6ii Aug paMem ene4 0l peweep aq lou Ileqs iepual 'lapual Aq JGAIBM ON
uol6uigse/A;o ejmS'Aunoo MIN
;o slinoo "qa;o uotloipsunf eql of Dwgns ol;senbei s,iopual uodn seei6e loluelo 'IinsmBi a si aiagi;I anuaA;o aorogo
U01BUILISO yi
;o a;elS a4i ur iapuel Aq paldaooe ueaq se4 Isnil ;o Papa si41 uoi6uigseM ;o eiMS aq; ;o smel a43 pug
Mel feiapa; girm aauepi000e ui paoio;ua Pus pangsuoo 'Aq paulaA06 aq IIIm isnij;o Pana slgl meq 6u;wens
lapual;o luasuoo uallum enl;noglim'Alioedeo Aug w tepual;o li;eueq aqj lo; to Aq play ewe Aug Is Aliedwd e41 w
almse to Isaimlu ieglo Aue Lilim isnil;o peep si41 Aq pelealo ej%se to lssimut aqj ;o te6law ou eq Iletis eieLil 'jeruaw
.swl to pea(] si41;o suoismoid 941 eugep to lmtdie;w
ol pasn eq oa 1ou ete pug Aluo sesodind eouaruamm lo; ale;snil;o peas sig; ui s6upeet uogdeo s6urpeaf4 uogdeo
Auedad eel ;o uorlwdo a414;im uoiloauuoo w spew seinlipuadxe nseo Ile ssel Auadwd
eqj woi; siftoei tseo Ile ueew llegs ,ewo0ui Bulelado laN„ emnbpi llugs iapuel se lialap pug wle; 4ons w maA
leosg snoAwd s,lolueio Buunp Alied0id aql woi; Pemmoai ewooui bugaiedo lau ;o;uewelels peippeo a 'lsenbei uodn
'tapue-1 0I gsiwn; pe4s lolugio 'eouepisai s,lolualo uegl leo;o sesodind lo; pasn si Aliedoid eel ;l •sliodaH IenuuV
luawpuawe to uoileimig
e41 Aq punoq to paBiego aq o; 146nos serped to Aced a41 Aq PauBis pue 6uiwM w uaAiB ssalun em109g9 eq IIe4s lsnii
;o Pee(] sill of luawpuawa io;o uoilelalle oN isnil;o peep si41 w giro; yes siallaw enl 01 se segied e41;o lueweeibB
pue 6upualsiapun enlue etl salnlilsuoo 'sluawnooa pmelaH Aug Lilim iegle6o; 'lsnil ;o pea(] sill 'sluawpuowV
Isnil;o papa sin; ;o lied a pie suoisiAwd snoeuellaosw Bwmollol agi •SNOISIAOHd SnO3NVI13OSIW
Sio;uei0
lie of ueAB Coilou aq o; peweep si lolueio Aug 01 impual Aq u9A16 aw10U Aua 'loluelo euo vena Clow S1 aia4111 'lauuew
1a41oug ui ueAi6 aq of mel Aq pemolig io peiinbei eoilou to; ldeoxo pue 'mel elgeoildde of ioefgnS ssaippg iu0lino s,ioluelo
;o seun; lie Is pewio;ur iapuel dee>i of seei6e lolueto 'sesodind eogou loj sseippe s,4W eqa eBump 01 si eogou eq;
;o esodind eLii lag1 Bui4oads 'segied laglo agl o; 6oilou U8911M lewi0; Bu1m5 Aq lswl;o pea(] si41 iapun seogou io; sseippg
sp a6uego Aew Ahad AuV Isnil;o pea(] si41;o Buuut6aq agi leeu umogs se 'ssaippg s,lapue-I of lues aq Rugs;snit;o pee(]
sigl levo Apioud seq Lionim uaq Aug ;o laploq eel woi; ainsoloelo;;o saogou;o seidoo IIV lswl;o papa sins ;o 6uwu6eq
aqj .eau umots sesseippe a41 01 peloexp 'piedaid e6elsod lisw patalsibei to paggiao 'sselo lsig se 'Paw smmS Pawn e41
Lit paUsodep uagm'papew;i 9o'iaunoo I46wiano pezw600ei Apguoaleu a 4Um papsodep ue4m'(meI Aq peimbei esimia4;o
ssalun) apwisomelai Aq PaMeoei Apenloe uagm 'palengep Apanloe uagm emloa4e aq pays pug '6wlum w umA16 eq pens
ales;o eogou Aug Pus ;Inmep;o aogou Aug uoganwg lnoniim Buwpnl0u 'Isnil;o peep si41 iapun uaM6 eq of pannbw eogou
Aua 'lauuew la4;oue w uaA15 eq 01 Mel Aq pamolls to pennbai aalou Io; Ideoxe Pus 'mal elggoildda of loalgnS 'S3OLLON
uognplsgns
lo; suoismoid ienlo pe ;o uoisnloxe a41 0l wenoB pays eelswl to uoalnlilsgns lo; einpoowd sig. Mal elgeoildde
Aq Pus lsnil;o pea(] sigl w aalswl e41 uodn pails;uoo sagnp Pus 'lamod 'elle m41 Ile of peeoons IIe4s 'Aliadwd 014110
eoueAenuoo lnoglim'eolsnil iosseoons agi lseialw w siosseoons sli to iapuel Aq pe6pelmou>loa pue pa;noex0 aq Rugs
luawnilsui agi pug 'ma;swl tossmoons e4a;o sseippe pug eweu eLii pug 'papioo0i si ;snil;o Pea(] siLil elegm IegwnN
ely sigypnV agl to eBgd pup >lo0q eq; 'ioluaiD pup 'aalswl 9BpuBl IpuBuo Bill ;o saww ail. 'mel elms Aq pannbw
siquaw leo;o Ile 01 u0141ppa a U1m000 IIe4s luewnilsu aqj uolBu4siaM ;o aleaS 'Alunoo ONIN to IGPJ009l eql 10
aoiNo eq; w papmei pug iapuel Aq pabi almou>loa puts pelnoexe luawnilsui us Ag lsnil;o pea(] sigl iapun peluodde
aalsnil Aug of aalsnil lossaoons a luiodde awil o; awe woi; Aew 'uoildo s,lapual lg 'iapuel aalsnil lossaoanS
mel elgeogdde Aq papiAoid lumxe Iln; eel of
pug 4yim eouepi000e ui asuo teg1te w 'einsoioalo; leioipnf Aq asoloelo; ol;n6u etp ene4 (legs tepual Pus 'eles puts aogou
Aq esoloeto; of ig6u e41 eAuq IIe4s aalsnil a41'Ailadad eel ;o lied Aug to Ile 0l loedsai gjLM'en0ge quo; las saiPewei
puts %q6u eql of uoipppa ul mel elgeoildde iapun em.snil lo; pwinbei suoileoi;ilenb Ile lmmw Ilags 9msnil •aalsnil
aalswl Aq IgBnwq si Bwpea0wd to uoilog eLii ssalun to 'mel elge01Iddg
Aq pannbai ssalun 'Ailed a eq pe4s aalswl /o 'iapuel 'lo;uejo 4oi4m w 6upaeowd io uw.oe Aua;o io 'veil io peep
Isnil tetgo Aug iapun alas 6upued a;o A7led leg;o Aue lggou of palabilgo eq lou llegs e01sni1 ANION of suorie6pgo
lsnil;o pee(] sill iapun iepuel l0lsaimut e43 10 isnil;o Pea(] si416ugoe4B lueweeibe
g 06ed (penin;uoo) 06SCL000I :ON ueo7
.isna.i �6 a33a
DEED OF TRUST
Loan No: 100013390 (Continued)
Page 7
and entities signing the Note in whatever capacity
Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Grantor, Lender, and Trustee, and includes
without limitation all assignment and security interest provisions relating to the Personal Property and Rents
Default The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default"
Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations
and ordinances relating to the protection of human health or the environment, including without limitation the
Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U S C Section
9601, et seq ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub L No 99-499 ("SARA"),
the Hazardous Materials Transportation Act, 49 U S C Section 1801, et seq , the Resource Conservation and Recovery
Act, 42 U S C Section 6901, at seq, or other applicable state or federal laws, rules, or regulations adopted pursuant
thereto
Grantor The word "Grantor" means FLASHERS LLC, a Washington Limited Liability Company
Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity,
concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to
human health or the environment when improperly used, treated, stored, disposed of, generated, manufactured,
transported or otherwise handled The words "Hazardous Substances" are used in their very broadest sense and
include without (imitation any and all hazardous or toxic substances, materials or waste as defined by or fisted under the
Environmental Laws The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum
by-products or any fraction thereof and asbestos
Improvements The word "Improvements" means all existing and future improvements, buildings, structures, mobile
homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property
Indebtedness The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable
under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of
and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge
Grantor's obligations or expenses incurred by Trustee or Lender to enforce Grantor's obligations under this Deed of
Trust, together with interest on such amounts as provided in this Deed of Trust
Lender. The word "Lender" means CHARTER BANK, its successors and assigns
Note The word "Note" means the promissory note dated April 29, 2003, in the original principal amount of
$1,431,425.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
consolidations of, and substitutions for the promissory note or agreement NOTICE TO GRANTOR: THE NOTE
CONTAINS A VARIABLE INTEREST RATE
Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property
now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property, together with all
accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property, and together with
all issues and profits thereon and proceeds (including without limitation all insurance proceeds and refunds of premiums)
from any sale or other disposition of the Property
Property. The word "Property" means collectively the Real Property and the Personal Property
Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed
of Trust
rt
Related Documents. The words "Related Documents" mean all promissory notes, or 'it agree merts,, loan agreements,
environmental agreements, guaranties, security agreements, mortgages, deeds or eeds, collateral
mortgages, and all other instruments, agreements and documents, whether now,,pf-17eceattei' 9xL5tI i, executed in
connection with the Indebtedness
Rents. The word "Rents" means all present and future rents, revenues, Incomeu
, isse o �Itiesi pr„o its, and other
benefits derived from the Property ;1 `�,
Trustee. The word "Trustee" means FIRST AMERICAN TITLE INSURANCE COMPANY, Whose'rtiallmg.a dress is 2101
FOURTH AVENUE, SUITE 800, SEATTLE, WA 98121 and any substitute or successor trusteos� t ?
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND GRANTOR
AGREES TO ITS TERMS.
GRANTOR:
FLASHERS LLC, A WASHINGTON LIMITED LIABILITY COMPANY
By:
DIANE E WILK NS, managing Member of� FLASHERS LLC, a
We hlLiability Company ,
'ST , Managing Memberof FLASHERS LLC, a !'
Washington Limited Liability Company
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