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Home My WebLink AboutD 20020501003821 After recording return to: WARREN, BARBER& FONTES, P.S. 2�020� P.O. BOX 626 01003821 RENTON, WASHINGTON 98057-0626 TRANSI�ITION TI DT sa.ee PAGE e01 QF 805 0S/81/Z0g2 iS:34 KING COUNTY, WA DOCUMENT TITLE: Deed of Trust REFERENCE NUMBER OF RELATED DOCUMENT: N/A GRANTOR: McGowan, Ronald E., a single person TRUSTEE: Commonwealth Land Title Insurance Company BENEFICIARY: City of Renton, a municipal corporation �; ABBREVIATED LEGAL DESCRIPTION: PTN LOT 9 TOWN OF RENTON � ADDITIONAL LEGAL DESCRIPTION ON PAGE(S): 1 '� ASSESSOR'S TAX PARCEL NUMBER(S): 7231501315 � � �` /l DF.Fn nF TRi1�T �C�� v''v0��c�,��Di�C� � THIS DEED OF TRUST is made between RONALD E. McGOWAN, a single person, "� Grantor, whose address is 317 Main Avenue South, Renton, WA 98055, COMMONWEALTH � LAND TITLE INSURANCE COMPANY, a corparation, Trustee, and CITY OF RENTON, a �� municipal corporation, Beneficiary, whose address is 1055 S Grady Way, Renton, WA 98055. WITNESSETH: Grantor hereby bargains, sells and conveys to Trustee in Trust, with power of sale, the following described real property in King County, Washington: ' THE SOUTH 40.00 FEET OF LOT 9 IN BLOCK 15 OF TOWN OF RENTON, AS PER PLAT THEREOF RECORDED IN VOLUME 1 OF PLATS, PAGE 135, RECORDS OF K1NG COUNTY; EXCEPT THE WESTERLY 5.00 FEET THEREOF DEEDED TO THE CITY OF RENTON FOR ALLEY PURPOSES BY DEED RECORDED UNDER RECORDING NUMBER 4571646; EXCEPT T 1��i^� rrrT�' THE BALANCE CONVEYED BY DEED RECORDED UNDER RECORDING NUMBER ;�Q01�� jqa� EXCEPT THAT PORTION LY1NG EASTERLY OF A L1NE BEGINNING AT A PO1NT ON THE NORTH LINE 6.63 FEET WESTERLY OF THE NORTHEAST CORNER AND ENDING AT A PO1NT ON THE SOUTH L1NE 9.28 FEET WESTERLY OF THE SOUTHEAST CORNER THEREOF; SUBJECT TO AN EASEMENT TO PUGET SOUND ENERGY, INC. FECORDED �J`Illi;�P�i CJIt��IPdC iv`Ul`1BER 2G0003060009�9. SITUATE IN THE COUNTY OF K1NG, STATE OF WASHINGTON. �� ILEQ FOR RECORD AT TH�REt1UEST OF DEED OF TRUST—Page 1 T��s'''�'�j�� '�»��'��+�t��Ed� 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. This deed is for the purpose of securing performance of each agreement of Grantor herein contained, and payment of the sum of Eight Thousand Dollars and No Cents ($8,000.00) 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 alse �uch furthFr surns as may�e a�tvanced or loanea by 3enericiary 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 properly; 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 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 first to the Beneficiary as its �, ir�terest��nay a�pear 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 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. • I 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. � '� , 6. Should ('irantor fail to nav�vh.P�.��ae a:�y ta,��s, usses�men�s, insu�ance premiums, liens, encumbrances or other charges against the property hereinabove described, Beneficiary DEED OF TRUST—Page 2 . . l 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 'T'" request of the Beneficiary, the Trustee shall sell the trust property, in accordance with the Deed � ��r� of Trust Act of the State 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. :�r�,:a • � 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. 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 mort�a.ae re�ords of±re �o�wnt�;�i:��v:::��,h ti is L..e� �f Tru�i is re�or•ded, 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 DEED OF TRUST—Page 3 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 i 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. � 9. If tr�e Pr�Yer�y; o�any pa�t�liereof,-is so1d, conveyCd, iransferred, ericumbered, or full possessory rights therein transferred, or if a controlling interest in Grantor(if a corporation) or a general partnership interest in Grantor(if a partnership) is sold, conveyed, transferred or encumbered, without the prior written consent of the Beneficiary,then Beneficiary may declare all sums secured by the Deed of Trust immediately due and payable, or at its sole option it may so consent and may increase the interest rate of said loan to such rate as Beneficiary shall request. Such increase in interest shall entitle Beneficiary to increase monthly payments on the loan so as to retire the obligation within the original stipulated time. This provision shall apply to each and every sale, transfer, conveyance or encumbrance regardless of whether or not Beneficiary has consented or waived its rights, whether by action or non-action, in connection with any previous _— sale, transfer, conveyance or encumbrance, whether one or more. � � �'� DATED: A��`.� �.� , 2002. � � � � �/�s'�.� �'3 -- � Ronald E. McGowan �� ;� STATE OF WASHINGTON ) _�'°� ) ss COUNTY OF K1NG ) I certify that I know or have satisfactory evidence that Ronald E. McGowan is the person who appeared before me, and who signed this instrument and acknowledged it to be his free and voluntary act for the uses and purposes mentioned in the instrument. DATED: Y � , 2002. b�}7!31}""��... av�•�� - =' ��s�o�i C '�' . :�.f��' ��'�r � ; /,. ��7� �.� :._ Notary Public in and for t aLte = y: " � �:"� of Washingt g at�/l,'I . _ �� ...R. ,� _ on, residin v'►=. -'r�t1t.�C' 's. � ��K11@ Ci. a • o ; ' p�'�:'��f��b��.;� My appointment expires: a ("�,rj ".,. ........• ��" .�'� .%,r�f �1'ASy�,.•. ��4pnn��. DEED OF TRUST—Page 4 I . . � I � . 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 4�— said Deed of Trust, has been fully paid and satisfied; and you are hereby requested and directed, � . � on�ay.�ent to ya�,z�f�.ny su�:s av��ir�g tc y�ca ur�d�r t�e t��-�s af said Beed of i i-us�, t� uancel - "�; 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 convey, without warranty, � to the parties designated by the terms of said Deed of Trust, all the estate now held by you � thereunder. � :� ,�,,, DATED: � �� n: � • � � :� � ..� ..�.., DEED OF TRUST—Page 5 i