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DEED OF TRUST
THIS DEED OF TRUST is made between CITY OF RENTON , a municipal
corporation , Grantor , whose address is 200 Mill Avenue South ,
Renton, Washington 98055 , TRANSAMERICA TITLE INSURANCE COMPANY, a
corporation, Trustee, and SQUIRE CONSTRUCTION COMPANY, a Washington
CD corporation , Beneficiary, whose address is 25403 - 104th Southeast ,
Kent , Washington 98031 .
WITNESSETH : Grantor hereby bargains , sells and conveys to
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Trustee in Trust , with power of sale, the following described real
property in King County, Washington:
That portion of the Southwest quarter of the Northwest
quarter of Section 5 , Township 22 North, Range 5 East ,
W.M. , King County, Washington, described as follows :
Commencing at the west one-quarter corner of said Section
5, thence S 88°38 ' 33" E along the east-west centerline of
said Section 5 , a distance of 648,76 feet to the west line
of the east one-half of said southwest quarter of the
northwest quarter;
Thence N 0°31 ' 17" E along said west line a distance of
20 .00 feet to the north right-of-way line of S.E . 200th
Street;
Thence continuing along said west line N 0 °31 ' 17" E a
distance of 200 .00 feet to the True Point of Beginning;
Thence continuing along said west line N 0 °31 ' 17" E a
distance of 1077 . 88 feet to the north line of said
southwest quarter of the northwest quarter; thence along
said north line S 89°05 ' 31 " E a distance of 651 .70 feet to
the northeast corner of said southwest quarter of the
northwest quarter;
Thence S 0°39 ' 11 " W along the east line of said southwest
quarter of the northwest quarter a distance of 147 . 85
feet;
Thence S 69 °21 ' 46" W a distance of 165 . 28 feet to the
northeast corner of Lot 2 of King County Short-Plat No. R
877058 , recorded under Auditor' s File No. 7808100855;
DEED OF TRUST
PAGE 1
Thence along the boundary of said Lot 2 the following
courses :
N 48°37 ' 32" W a distance of 118 .20 feet ; thence S
53°49 '07" W a distance of 198 .22 feet ; thence S 5°09 ' 11 " E
a distance of 111 . 45 feet ; thence S 89°24 ' 30" E a distance
of 96 .01 feet; thence N 85°17 '46" E a distance of 80 .30
feet; thence S 89°20 '49" E a distance of 59. 00 feet to the
west line of the east 156 .00 feet of said southwest
quarter of the northwest quarter;
Thence along said west line of said east 156 . 00 feet , S
0 °39 ' 11 " W a distance of 928 . 18 feet to said north
right-of-way line of S.E. 200th Street ;
Thence N 88°38 ' 33" W along said north right-of-way line a
in distance of 377 .82 feet to the east line of the west
115 .00 feet of the east half of said southwest quarter of
the northwest quarter; thence along said east line of said
`14 west 115 .00 feet N 0°31 ' 17" E a distance of 200 .00 feet to
the north line of the south 220 .00 feet of said southwest
quarter of the northwest quarter;
Thence along said north line N 88°38 ' 33" W a distance of
115 .00 feet to the True Point of Beginning.
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 Two
Hundred Seventy One Thousand Five Hundred Dollars ($271 ,500 .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
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 .
DEED OF TRUST
PAGE 2
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 . A11 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 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 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
CP 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 .
PI
Zi55 . 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 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.
DEED OF TRUST
PAGE 3
,
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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 of the Beneficiary, the Trustee shall
sell the trust property, in accordance with the Deed 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.
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
al convey at the time of his execution of this Deed of Trust , and such
C) 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 encumberances
for value .
G� 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 .
9 . This is a "wrap-around" Deed of Trust securing a
Promissory Note of even date due to SQUIRE CONSTRUCTION COMPANY , a
Washington corporation, in the amount of Two Hundred Seventy One
Thousand Five Hundred Dollars ($271 ,500 .00) which amount includes
( 1 ) the principal balance of a Real Estate Contract due to MARK S .
WHEATON and ETHEL L. WHEATON , husband and wife , which Real Estate
Contract was recorded under King County Recording No . 7704150576 ,
with an unpaid principal balance of Fifty Five Thousand Dollars
DEED OF TRUST
PAGE 4
•
•
($55000 ) ; and (2) the principal balance of lien(s) of assessment for
King County Sewer LID No. 35, in the total sum of _$27 . 345 .24
These obligations are referred to in this paragraph as "prior
encumbrances" . The Beneficiary of this Deed of Trust has agreed by
terms of the Promissory Note for which this Deed of Trust is
security , to use the appropriate portion of the payment of the
Grantor to it to pay the amounts due under the "prior encumbrances" .
In the event that the Beneficiary shall become in default under the
"prior encumbrances" , Grantor shall have the right to advance
sufficient funds to cure such default , and the funds so advanced ,
together with interest thereon at the rate of 12% per annum, shall
be credited to the next installments of principal and interest due
under the Note secured by this Deed of Trust . Grantor and
TV Beneficiary agree to furnish immediately to the other party all
CD copies of any notices of default received pursuant to the "prior
Qencumbrances" .
lf� Le,
CD DATED: February .1- 7 -; 1984 .
gr 4 CITY OF RENTON , a
municipal corporation
•
By Bw.b&tw �..t .SR.LIWOC .
BARBARA Y. SHINPOCH,
Mayor
Attest :
MAXINE E. MOTOR,
City Clerk
STATE OF WASHINGTON )
) ss
COUNTY OF KING )
On this day personally appeared before me BARBARA Y. SHINPOCH
and MAXINE E. MOTOR to me known to be the Mayor and City Clerk ,
respectively, of the CITY OF RENTON the municipal corporation that
executed the foregoing instrument , and acknowledged the said
instrument to be the free and voluntary act and deed of the
corporation, for the uses and purposes therein mentioned, and on
oath stated that they are authorized to execute the instrument .
DATED: February,7 , 1984 .
I Qr43-11 (2>42242,--aP
Not- y Public in and for the
State of Washington, residing
at Renton .
DEED OF TRUST �.
PAGE 5
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
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 convey, without warranty, to the parties designated
Tr by the terms of said Deed of Trust, all the estate now held by you
thereunder .
DATED: , 19
DEED OF TRUST
PAGE 6
•
INTEROFFICE CORRESPONDENCE
Date
TO;
FROM: Maxine E. Motor, City Clerk
SUBJECT;
We return herewith fully executed document(s) , as above-
captioned, copy of which we have retained for our official
public records. Copies should be forwarded to
and the other for your file.
Pursuant to your memo of we return herewith
document(s) , as above-captioned, which have been signed by
City Officials and need to be forwarded for further execution
by
We return herewith recorded document(s) , as above-captioned,
copy of which we have retained for our official public records.
Copies should be forwarded to appropriate parties and retained
as necessary for your files.
Please file a fully executed copy with the City Clerk's office
for our permanent records when received.
Thank you.
MEM:db
cc:
OF R4,�
O OFFICE OF THE CITY ATTORNEY • RENTON,WASHINGTON
V •0 POST OFFICE BOX 626 100 S 2nd STREET • RENTON. WASHINGTON 98057 255-8678
LAWRENCE J.WARREN, CITY ATTORNEY DANIEL KELLOGG, ASSISTANT CITY ATTORNEY
90 CO' DAVID M. DEAN, ASSISTANT CITY ATTORNEY
'9gpFO 3EP���O�' MARK E. BARBER, ASSISTANT CITY ATTORNEY
ZANETTA L.FONTES, ASSISTANT CITY ATTORNEY
February 27 , 1984 MARTHA A.FRENCH, ASSISTANT CITY ATTORNEY
TO: Maxine E. Motor, City Clerk
FROM: Lawrence J. Warren, City Attorney
Re : Squire Condemnation
Dear Maxine :
Enclosed please find the Statutory Warranty Deed from Squire
Construction Company to the City of Renton and the corresponding
Deed of Trust from the City to Squire Construction. Please
inform me of the filing numbers on these documents as soon as
possible as I must insert the filing numbers in the promissory
note before tendering it to Mr. Squir
"
Lawrence ' . Warren
LJW:nd
Encl.
�C+cst-dL Lic30 J t) .?, C�
! Leo `� Z < �� L
a
�•, NOW
CITY OF RENTON
�� 0 Lawrence J. Warren, City Attorney
amIL Daniel Kellogg - David M. Dean -Mark E. Barber - Zanetta L. Fontes-Theodore R. Parry
Assistant City Attorneys
March 6 , 1989
Mr. Fred Squire
25403 104th S .E.
Kent, WA 98031
Re: Sale to City of Renton
Reconveyance of Deed of Trust
Dear Mr . Squire:
As you know , our firm represents the City of Renton. We are
informed that the City has recently made the final payment on the
promissory note and Deed of Trust dated February 25, 1984 for the
purchase of your property .
I am presuming that you have the origin. of the Deed o ' Trust in
favor of the City (King County Recordin• No. 8403050804 )
Would you be so kind as to return to m • fice t. - following
documents:
1 . Original promissory note: According to my records , Mr .
Warren forwarded the original of the promissory note to
you on March 6 , 1984. Please endorse on the face of the
promissory note "Paid In Full" . The endorsement must be
dated and executed by a properly authorized corporate
officer .
2. The original Deed of Trust: Please have a properly
authorized corporate officer execute the Request for
Reconveyance on page 6 of the Deed of Trust. If you do
not have the original , please sign the Request for
Reconveyance on a copy of the Deed of Trust and return
it to my office.
Please return both the original promissory note and the original
Deed of Trust to my office in the self-addressed, stamped envelope
which I have provided. We will then secure the reconveyance of the
property by the Trustee.
Post Office Box 626 - 100 S 2nd Street - Renton, Washington 98057 - (206) 255-8678
law
Mr . Fred Squire
March 6 , 1989
Page 2
Please also forward to me any evidence which you may have that your
Real Estate Contract with Mark and Ethel Wheaton ( King County
Recording No. 7704150576) , and the King County Sewer LID No. 35
assessment in the sum of $27, 345. 24, have both been paid in full ,
pursuant to the obligation which you undertook with the City of
Renton.
If you have any questions with regard to this matter , please feel
free to contact me.
Very truly yours,
Daniel Kellogg
DK: nd
cc: Mayor
City Clerk
Marilyn Petersen
L8. 36.12