HomeMy WebLinkAboutD 9011211148 •
i E; .moi1- ,-
WHEN RECORDED RETURN TO:
90/11/21 #1148 i A
Warren, RECD F 9• 0n
Kellogg, Barber, Dean & Fontes, P. S. RECFEE 2. 00
Attorneys at Law
P.O. Box 626 CASHSL ***11 .00
Renton, WA 98057 55
DEED OF TRUST
THIS DEED OF. TRUST is made between THE CITY OF RENTON, a
Washington municipal corporation, Grantor, whose address is 200 Mill
Avenue South, Renton, WA 98055, TICOR TITLE INSURANCE COMPANY, a
corporation, Trustee, and ETHYL M. HOLM, a single person, Beneficiary,
whose address is 1015 Tacoma N.E. , Renton, WA 98056.
WITNESSETH: Grantor hereby bargains, sells and conveys to Trustee
in Trust, with power of sale, the following described real property in
(\i King County, Washington:
Lot 10, Block 10, and that portion of Lot 9, Block 10, Town
of Renton, according to the plat recorded in Volume 1 of
Plats, page 135, in King County, Washington, lying South of
the South line of building located on Lots 8 and 9, said
Block 10, and commonly known as O.K. Garage, which said line
begins at a point on the West line of said Lot 9 distant
4O 13 . 75 feet South of the Northwest corner of said Lot 9 ;
�- thence South 89°07'30" East along the South line of said
building 115 feet to the West line of alley as established;
N EXCEPT the East 5 feet of said lots condemned for alley by
Q� O the City of Renton under King County Superior Court Cause
No. 87129, Ordinance No. 272 ; and
CT)
EXCEPT portion of said Lot 10 conveyed to the City of Renton
for street by deed executed August 21, 1929, recorded
December 2 , 1931, under King County Auditor's File No.
2701178 .
which real property is not used principally for agricultural or farming
purposes, together with all tenements, hereditaments, and appurtenances
now or hereafter thereunto belonging or in any wise appertaining, and
the rents, issues and profits thereof.
FILED FOR RECORD +
DEED OF TRUST r i1T QUEST OF
TlCOR ,1TLE IfJSURgRE
PAGE - 1 1008 WESTE!?N NCE CO,
SEATTLE AVE. SUITE200
l"`q 98104
çii. 00
This deed is for the purpose of securing performance of each
agreement of Grantor herein contained, and payment of the sum of One
Hundred Fifty Nine Thousand Two Hundred Ninety One and 48/100 Dollars
($159, 291. 48) with interest, in accordance with the terms of a
promissory note ("Note") of even date herewith payable to Beneficiary
or order, and made by Grantor, and all renewals, modifications and
extensions thereof, and also such further sums as may be advanced or
loaned by Beneficiary to Grantor, or any of their successors or
assigns, together with interest thereon at such rate as shall be agreed
upon.
To protect the security of this Deed of Trust, Grantor covenants
and agrees:
1. To keep the property in good condition and repair; to permit
no waste thereof; to complete any building, structure or improvement
being built or about to be built thereon; and to comply with all laws,
ordinances, regulations, covenants, conditions and restrictions
affecting the property.
2 . To pay before delinquent all lawful taxes and assessments upon
the property; to keep the property free and clear of all other charges,
liens or encumbrances impairing the security of this Deed of Trust.
3 . To keep all buildings now or hereafter erected on the property
CJ described herein continuously insured against loss by fire or other
�} hazards in an amount not less than the total debt secured by this Deed
— of Trust. All policies shall be held by the Beneficiary, and be in
such companies as the Beneficiary may approve and have loss payable
cQ first to the Beneficiary as its interest may appear and then to the
— Grantor. The amount collected under any insurance policy may be
applied upon any indebtedness hereby secured in such order as the
Q-) Beneficiary shall determine. Such application by the Beneficiary shall
not cause discontinuance of any proceedings to foreclose this Deed of
Trust. In the event of foreclosure, all rights of the Grantor in
insurance 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 all 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 Trust.
5. 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.
DEED OF TRUST
PAGE - 2
6. Should Grantor fail to pay when due any taxes, assessments,
insurance premiums, liens, encumbrances or other charges against the
property hereinabove described, Beneficiary may pay the 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.
IT IS MUTUALLY 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 thereof as may be necessary to fully satisfy the obligation
secured hereby, shall be paid to Beneficiary to be applied to said
obligation.
2 . By accepting payment of any sum secured hereby after its due
date, Beneficiary does not waive its right to require prompt payment
when due of all other sums so secured or to declare default for failure
to so pay.
3 . The Trustees 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 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 the Grantor in the payment of any indebtedness
'� secured hereby or in the performance of any agreement contained herein,
all sums secured hereby shall immediately become due and payable at the
option of the Beneficiary. In such event, and upon the written request
N of the Beneficiary, the Trustee or its authorized agent shall sell the
trust property, in accordance with the Deed of Trust Act of the State
CD of Washington, at public auction to the 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 sale, including
a reasonable Trustee's fee and Attorney's fee; (2) to the obligation
secured by this Deed of Trust; (3) the surplus, if any, shall be
distributed to the persons entitled thereto.
5. The Trustee shall deliver to the Purchaser at the sale its
deed, without warranty, which shall convey to the Purchaser the
interest in the property which Grantor had or had the power to convey
at the time of his execution of this Deed of Trust, and such as he may
have acquired thereafter. The 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 of bona fide purchasers and encumbrances for value.
DEED OF TRUST
PAGE - 3
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.
7 . In the event, of the death, incapacity or disability or
resignation of Trustee, Beneficiary may appoint in writing a successor
trustee, and upon the recording of such 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 the original
trustee. The trustee is not obligated to notify any party hereto of
pending sale under any other Deed of Trust or of any action or
proceeding in which Grantor, Trustee 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 on their heirs,
devisees, legatees, administrators, executors, successors and assigns.
The term Beneficiary shall mean the holder and owner of the note
secured hereby, whether or not named as Beneficiary herein.
DATED: November 020 , 1990 .
THE CITY OF RENTON
by
Earl Clymer, M. •r
ATTEST:
CD
by PPU((qi114111
City Cle � ,
DEED OF TRUST
PAGE - 4
•
STATE OF WASHINGTON )
ss
COUNTY OF KING )
I certify that I know or have satisfactory evidence that Earl
Clymer and Marilyn Peterson signed this instrument, on oath stated that
they were authorized to execute the instrument and acknowledged it as
the Mayor and City Clerk of The City of Renton to be the free and
voluntary act of such party for the uses and purposes mentioned in the
instrument.
Dated: November ccAO, 19• : .
de
D.
ss�oN4.,9 tary Public in and for the State of
f ;�°° MO?4p, . s� �5 ashington, residing at Renton.
* Y appointmentexpires: -7"79- 1r'
M Z-
fte
yr9 j99tiO�
` vA S!'EIA
�.a•tee... REQUEST FOR FULL RECONVEYANCE
TO: 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
N 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
CD
CD of Trust, and to convey, without warranty, to the parties designated
by the terms of said Deed of Trust, all the estate now held by you
thereunder.
DATED: 19
D5.4 : 06: 11/19/90:dk
DEED OF TRUST
PAGE - 5
•
t$ CITY OF RENTON
Office of the City Attorney
Earl Clymer, Mayor Lawrence J. Warren
Girt OE RENTo4
JAN '. 31991
January 2 , 1991
'iiECEIVED
„i- Y CLERK'S OFFICE
Ms. Marilyn J. Petersen
City Clerk
City of Renton
200 Mill Ave. So.
Renton, WA 98055
Re: Holm to City of Renton Real Estate Transaction
Dear Marilyn:
I am pleased to enclose to you the original of the Statutory
Warranty Deed which has been recorded under King County Recording
No. 9011211147, as well as the original Policy of Title Insurance,
Ticor Policy No. A-406064 . You should retain these documents in
a safe place.
I am also enclosing for your records a copy of the recorded Deed
of Trust which was recorded under King County Recording No.
9011211148, and the Promissory Note dated November 20, 1990, in the
principal sum of $159, 291.48 .
It has been my pleasure to have been of assistance to you with
respect to this transaction. If there is any question, please feel
free to contact me.
Ve • yours,
111*
Daniel Ke ogg
DK: lds
Enclosures
L8 . 55/39
Post Office Box 626 - 100 S 2nd Street -Renton, Washington 98057- (206) 255-8678