HomeMy WebLinkAbout2002 - Deed of Trust - Haggard William / Haggard Lettie - 2002090900048920020909000489
WHEN RECORDED MAIL TO
MSN SV -79 / DOCUMENT CONTROL DEPT
P O BOX 10266
VAN NUYS, CALIFORNIA 91410 -0266
PARCEL ID #: 73t -1OLP0 011.90 -p
Prepared by: K. WESTON
AMERICA'S WHOLESALE LENDER
600 108TH AVE NE SUITE 205
BELLEVUE, WA 98004 -
DOCIDA 00002043605152109
ESCROW /CLOSING • HAGGARD
Abbreviated Legal Description LT 1, K. C. S . P . NO. 386043
REC. NO. 8702121114
[Include lot, block and plat or section, township and range]
Full legal descnpuon located on page 1
• HELOC - Deed of Trust
2C5191WA (04/02)
DEED OF TRUST
(Line of Credit Trust Deed)
THIS DEED OF TRUST, dated September 4 , 2002 , is between
WILLIAM W HAGGARD, AND LETTIE JEAN HAGGARD, HUSBAND AND WIFE
residing at
11532 40TH AVENUE SOUTH, TUKWILA, WA 98168
the person or persons signing as "Grantor(s)" below and hereinafter referred to as "we" or "us" and
STEWART TITLE
as trustee and hereinafter referred to as the "Trustee," with an address at
18000 INTERNATIONAL BOULEVARD SOUTH #510 SEA TAC WA 98188
for the benefit of
AMERICA'S WHOLESALE LENDER
with an address at
4500 Park Granada. Calabasas, CA 91302
and hereinafter referred to as "you" or the "Beneficiary."
[State, Municipality]
Washington 98168
ZIP
Page 1 o14
Initials
20 20909000489
STEUART TITLE DT 22 00
ev G ea / /2002F0a00
KING COUNTY, UR
PREMISES. In consideration of the loan hereinafter descnbed, we hereby mortgage, grant and convey
the Trustee the premises located at
11532 40TH AVENUE SOUTH TUKWILA
(the "Premises ").
v) SIEWARTIffLE
,gor. 3rg9F
KING
County
and further described as
LOT 1, KING COUNTY SHORT PLAT NUMBER 386043. ACCORDING TO THE SHORT PLAT
RECORDED UNDER RECORDING NUMBER 8702121114, RECORDS OF KING COUNTY.
WASHINGTON. '
to
.,. ;,
DOC ID # 00002043605152109
The Premises includes all buildings and other improvements now or m the future on the Premises and all nghts
and interests which derive from our ownership, use or possession of the Premises and all appurtenances thereto.
The Premises are not used principally for agricultural or farming purposes.
TERM. The maximum term of the Note is 30 years, including any renewals or extensions thereof.
LOAN. The Deed of Trust will secure your loan in the principal amount of 5 22,000.00 or so much
thereof as may be advanced and readvanced from time to time to
WILLIAM W HAGGARD
LETTIE JEAN HAGGARD
the Borrower(s) under the Home Equity Credit Line Agreement And Disclosure Statement (the "Note ") dated
September 4 , 2002 , plus interest and costs, late charges and all other charges related to the loan, all of
which sums are repayable according to the Note. This Deed of Trust will also secure the performance of all of
the promises and agreements made by us and each Borrower and Co- Signer in the Note, all of our promises and
agreements in this Deed of Trust, any extensions, renewals, amendments, supplements and other modifications
of the Note, and any amounts advanced by you under the terms of the section of this Deed of 'rust entitled "Our
Authority To You " Loans under the Note may be made, repaid and remade from time to time in accordance
with the terms of the Note and subject to the Credit Limit set forth in the Note
OWNERSHIP We are the sole owner(s) of the Premises We have the legal nght to mortgage, grant and convey
the Premises to the Trustee
cis
m BORROWER'S IMPORTANT OBLIGATIONS•
—u.
o•
(a) PAYMENT AND PERFORMANCE: We will pay to you all amounts secured by this Deed of Trust as
° they become due, and shall strictly perform our obligauons
Cra
(b) TAXES We will pay all real estate taxes, assessments, water charges and sewer rents relating to the
o Premises when they become due We will not claim any credit on, or make deduction from, the loan under the
Note because we pay the taxes and charges. We will provide you with proof of payment upon request
H
C:2 (c) MAINTENANCE We will maintain the building(s) on the Premises in good condition We will not
• N make major changes in the building(s) except for normal repairs. We wilt not tear down any of t building(s)
s
j $(s ) P lam• Y g( )
on the Premises without fuss getting your consent We will not conduct or permit any nutsance or waste on or to
the Premises. We will not use the Premises illegally If this Deed of Trust is on a unit m a condominium or a
planned unit development, we shall perform all of our obligations under the declaration or covenants creating or
governing the condominium or planned unit development, the by -laws and regulauons of the condominium or
planned unit development and consutuent documents
(d) INSURANCE. We will keep the building(s) on the Premises insured at all times against loss by fire,
flood and any other hazards you may specify We may choose the insurance company, but our choice is subject
to your reasonable approval The pohcies must be for at least the amounts and the time penods that you specify
We will deliver to you upon your request the policies or other proof of the insurance The policies must name
you as "mortgagee" and "loss- payee" so that you will receive payment on all insurance claims, to the extent of
your interest under this Deed of Trust, before we do. The insurance policies must also provide that you be given
not less than 10 days prior wntten notice of any cancellation or reduction in coverage, for any reason. Upon
request, we shall deliver the policies, certificates or other evidence of insurance to you In the event of loss or
damage to the Premises, we will immediately noufy you in wnung and file a proof of loss with the insurer You
may file a proof of Toss on our behalf if we fail or refuse to do so. You may also sign our name to any check,
draft or other order for the payment of insurance proceeds in the event of loss or damage to the Premises If you
receive payment of a claim, you will have the right to choose to use the money either to repair the Premises or to
reduce the amount owing on the Note
(e) CONDEMNATION We assign to you the proceeds of any award or claun for damages, direct or
consequential, m connection with any condemnation or other taking of the Premises, or part thereof, or for
conveyance m lieu of condemnauon, all of which shall be paid to you, subject to the terms of any Prior Deed of
Trust.
(f) GOVERNMENTAL REQUIREMENTS: We will comply with all laws, ordinances and regulations
applicable to the use or occupancy of the Premises
(g) SECURITY INTEREST. We will join with you in signing and filing documents and, at our expense, in
doing whatever you believe is necessary to perfect and continue the perfecuon of your hen and secunty est
in the Premises
• HELOC • Deed of Trust
2C5192WA (04/02)
Page 2 of 4
Initials
;.»+..�.� .��..`
c■i
(1) INSPECTION We will permit you to inspect the Premises at any reasonable time.
• HELOC - DeedetTrust
2C5193WA (04/02)
Page 3at4
- .
Initials
DOC ID # 00002043605152109
(h) OUR AUTHORITY TO YOU If we fail to perform our obligations under this Decd of Trust, you may,
if you choose, perform our obligations and pay such costs and expenses. You will add the amounts you advance
to the sums owing on the Note, on which you will charge interest at the interest rate set forth m the Note. If, for
example, we fail to honor our promises to maintain msurance in effect, or to pay filing fees, taxes or the costs
necessary to keep the Premises in good condition and repair or to perform any of our other agreements with you,
you may, if you choose, advance any sums to satisfy any of our agreements with you and charge us interest on
such advances at the interest rate set forth in the Note This Deed of Trust secures all such advances. Your
payments on our behalf will not cure our failure to perform our promises in this Decd of Trust Any replacement
insurance that you obtain to cover loss or damages to the Premises may be limited to the amount owing on the
Note plus the amount of any Pnor Deeds of Trust
(t) PRIOR DEED OF TRUST: If the provisions of this paragraph are completed, this Deed of Trust is
subject and subordinate to a pnor deed of trust dated January 1, 2001 and given by us for the
benefit of
MORTGAGE BROKERS SERVICES
as beneficiary, in the onginal amount of $ 186,800.00 (the "Prior Deed of Trust"). We shall not
increase, amend or modify the Pnor Deed of Trust without your prior written consent and shall upon receipt of
any written notice from the holder of the Prior Deed of Trust promptly deliver a copy of such nonce to you We
shall pay and perform all of our obligations under the Prior Dent of Trust as and when required under the Prior
Deed of Trust.
(j) HAZARDOUS SUBSTANCES. We shall not cause or permit the presence, use, disposal, storage, or
release of any Hazardous Substances on or in the Premises. We shall not do, nor allow anyone else to do,
anything affecting the Premises that is in vtolauon of any Environmental Law. The preceding two sentences shall
not apply to the presence, use, or storage on the Premises of small quantities of Hazardous Substances that are
cc' generally recognized to be appropriate to normal residential uses and to maintenance of the Premises As used in
OS
.e this paragraph, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
• Environmental Law and the following substances. gasoline, kerosene, other flammable or toxic petroleum
cm products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and
ort radioacuve materials As used tit this paragraph, "Environmental Law" means federal laws and laws of the
a jurisdiction where the Premises are located that relate to health, safety or environmental protecuon
Cis.
(k) SALE OF PREMISES. We will not sell, transfer ownership of, mortgage or otherwise dispose of our
cka interest in the Premises, in whole or in part, or permit any other lien or claim against the Premises without your
prior wntten consent
NO LOSS OF RIGHTS. The Note and this Deed of Trust may be negotiated or assigned by you without
releasing us or the Premises. You may add or release any person or property obligated under the Note and this
Deed of Trust without losing your rights in the Premises.
DEFAULT Except as may be prohibited by apphcable law, and subject to any advance notice and cure period if
required by applicable law, if any event or condition described in Paragraph 12 A of the Note occurs, the
Trustee may foreclose upon this Deed of Trust by notice and sale or you may foreclose judicially, in either case
in accordance with and to the extent provided by law You may bid at any public sale on all or any poruon of the
property In addiuon, you or the Trustee may, in accordance with applicable law, (i) enter on and take possession
of the Premises, (u) collect the rental payments, including over -due rental payments, directly from tenants; (tit)
manage the Premtses, and (iv) sign, cancel and change leases We agree that the interest rate set forth in the Note
will continue before and after a default, entry of a judgment and foreclosure or public sale In addiuon, you shall
be entitled to collect all reasonable fees and costs actually incurred by you in proceeding to foreclosure or to
public sale, including, but not limited to, trustee's fees, reasonable attorneys fees (whether or not there is a
judicial proceeding) and costs of documentary evidence, abstracts and title reports.
ASSIGNMENT OF RENTS, APPOINTMENT OF RECEIVER. As additional security, we assign to you the
rents of the Premises You or a recover appointed by the courts shall be entitled to enter upon, take possession
of and manage the Premises and collect the rents of the Premises including those past due.
WAIVERS. To the extent permitted by applicable law, we waive and release any error or defects in proceedings
to enforce this Deed of Trust and hereby waive the benefit of any present or future laws providing for stay of
execution, extension of ume, exemption from attachment, levy and sale and homestead exemption.
BINDING EFFECT: Each of us shall be fully responsible for all of the promises and agreements in this Deed of
Trust Until the Note has been paid m full and your obhgauon to make further advances under the Note has been
terminated, the provisions of this Deed of Trust will be binding on us, our legal representatives, our heirs and all
future owners of the Premises This Deed of Trust is for your benefit and for the benefit of anyone to whom you
may assign it Upon payment in full of all amounts owing to you under the Note and this Deed of and
provided any obligation to make further advances wider the Note has terminated, this Deed of Trustyour
rights in the Premises shall end
«
DOC ID # 00002043605152109
NOTICE Except for any nonce requtred under applicable law to be given in another manner, (a) any nonce to
us provided for in this Deed of Trust shall be given by delivering it or by mailing such noucc by regular first
class mail addressed to us at the last address appearing in your records or at such other address as we may
designate by nonce to you as provided herein, and (b) any notice to you shall be given by certified mail, return
receipt requested, to your address at
AMERICA'S WHOLESALE LENDER
4500 Park Granada Calabasas, CA 91302
or to such other address as you may designate by notice to us Any nonce provided for in this Deed of Trust
shall be deemed to have been given to us or you when given in the manner designated herein.
RELEASE Upon payment of all sums secured by this Decd of Trust and provided your obligauon to make
further advances under the Note has terminated, the Trustee shall discharge this Deed of Trust without charge to
us, except that we shall pay any fees for recording of a reconveyance of this Decd of Trust.
SEVERABILITY If any provision m this Deed of Trust is held invalid or unenforceable, the remaining
provisions shall continue in full force and effect
GENERAL. You or the Trustee can waive or delay enforcing any of your nghts under this Deed of Trust
without losing them Any waiver by you of any provisions of this Deed of Trust will not be a waiver of that or
any other provision on any other occasion.
SUBSTITUTE TRUSTEE. Beneficiary may, from tune to time, appoint a successor trustee by an instrument
executed and acknowledged by Beneficiary and recorded in the county in which this Deed of Trust is recorded,
and upon such recordation the successor trustee shall become vested with the same powers, nghts, duties and
authority of the Trustee with the same effect as tf ongmalty made Trustee hereunder.
MERGER. There shall be no merger of the interest or estate created by this Deed of Trust with any other estate
or interest to the Premises at any time held by you or f your benefit without your wntten consent
THIS DEED OF TRUST has been signed by ea of us under the s ate first
• HELOC - Deed of Trust
2C5194WA (04/02)
1►,%i
Grantor LETTI' AN A'�
(SEAL)
. C S� t t
- � C
0 t: �f o •. c a I t (SEAL)
Granturi : O NO �'m•: SJ
ii1 tr j PtlBLI O` y r
STATE OF WASHINGTON t I � I VO F O
} as. ���....- -
County of Kl n g
On this day personally appeared before me Wi113.am W. Haggard and Lettie
Jean Haggard
to me known to be the individual s descnbed in and who executed the within and foregoing instrument,
and acknowledged that t hey signed the same as their free and voluntary act and deed,
for the uses and purposes therein menuoned.
GIVEN under my hand and official seal this 4th day o r S . t e mb e r , 2 00 2
Grantor
My Appomtment Expires on 10/19/02
Notary Pub in and for the S
Fed d al Way
Page 4 of 4
(SEAL)
(SEAL)
Washmgt n, residing at