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Home My WebLink About2014 - Deed of Trust - Segale Properties LLC - 20140707000098 Return Address City Clerk 20140707000098 CITY OF TUKWIL DT 77.00 City Of Tukwila PAGE-001 OF 005 6200 Southcenter Boulevard 07/07/2014 Tukwila, Washington 98188 Document Title(s) (or transactions contained therein): Deed of Trust Reference Number(s) of Documents assigned or released: N/A (on page _ of documents(s)) Grantor(s) (Last name first, then first name and initials): SEGALE PROPERTIES LLC Grantee(s) (Last name first, then first name and initials): CITY OF TUKWILA Legal description (abbreviated: i.e. lot, block, plat or section, township, range) PTN. SW 1/4 NE % of SEC 35, TWN 23N RGE 4E to Full legal is on pages 4-5 of document. Assessor's Property Tax Parcel/Account Number(s): 3523049120 DEED OF TRUST (For Use in the State of Washington) THIS DEED OF TRUST,made this3 lay of JUl/le 2014, between SEGALE PROPERTIES LLC, a Washington limited liability company, GRANTOR,whose address is 5811 Segale Park Drive C, Tukwila, WA 98188, COMMONWEALTH LAND TITLE COMPANY OF PUGET SOUND, LLC, a Washington limited liability company, TRUSTEE,whose address is 14450 N.E. 29th Place,#200, Bellevue, WA 98007, and THE CITY OF TUKWILA, a non-charter, optional code Washington municipal corporation, BENEFICIARY,whose address is 6200 Southcenter Boulevard,Tukwila, WA 98188. WITNESSETH: Grantor hereby bargains, sells, and conveys to Trustee in trust,with power of sale,the following described real property in King County, Washington: Assessor's Tax Parcel ID# 3523049120 See legal description set forth in Exhibit A attached hereto and incorporated herein 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 Grantor's obligation under that certain Fire Facilities Agreement between Grantor and Beneficiary dated thetirf'day of" jA4 , 2014 and approved by the Beneficiary's City Council as Ordinance Ati 40 on (6 — — 2014. 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 improvements being built or about to be built thereon,to restore promptly any building, structure, or improvement thereon which may be damaged or destroyed; 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 described herein continuously insured against loss by fire or other hazards in an amount not less than 90% of the insurable value thereof. All policies shall name Beneficiary as a loss payee as its interest may appear. 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, 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 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 as may be necessary to fully satisfy the obligation secured hereby, shall be paid to the 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 Trustee 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 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 written request of Beneficiary, 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 the sale, including a reasonable Trustee's fee and attorney's fee; (2)to the obligation secured by this Deed or Trust; and(3)the surplus, if any, shall be distributed to the persons entitled thereto. 5. 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 acquitted thereafter,Trustee's deed shall recite the facts showing that the sale was conducted to compliance with all the requirements of law and this Deed of Trust,which recital shall be prima facie evidence of such compliance and conclusive evidence thereof in favor of bona fide purchaser 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, 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 an 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 and assigns. The term Beneficiary shall mean the holder and owner of the note secured hereby, whether or not named as Beneficiary herein. Segale Properties LLC By Metro Land Develop - Inc. Its Manager Lkl1L F.rk A. Seg. e, ice President STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) On this j day of JV(1 Q. , 2014, before me,the undersigned, a Notary Public in and for the State of Washington, duly commissioned and sworn,personally appeared Mark A. Segale,to me known to be the person who signed as Vice President of Metro Land Development, Inc., Manager of SEGALE PROPERTIES LLC,the limited liability company that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said partnership for the uses and purposes therein mentioned, and on oath stated that Mark A. Segale was authorized to execute said instrument on behalf of the company. IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. Signature of Notary) „•‘\0‘ 04.0,510N co r; Co ‘05"0OTARy e _ _ (Print or stamp name of Notary) A PUBLIC; z 15-` ;° NOTARY PUBLIC in and for the State of Washington, I�A��e�,, residing at ' t e e ,yl My appointment expires: 1 Z- t s-,r. ea,ee EXHIBIT "A"to Deed of Trust Legal Description of Encumbered Property THAT PORTION OF THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF SECTION 35, TOWNSHIP 23 NORTH, RANGE 4 EAST, W.M., DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 35; THENCE SOUTH 87°50'09" EAST ALONG-THE NORTH LINE THEREOF 449.30 FEET; THENCE SOUTH 02°09'51"WEST 36.00 FEET TO THE SOUTH MARGIN OF SOUTH 180Th STREET AND THE TRUE POINT OF BEGINNING; THENCE SOUTH 87°50'09" EAST ALONG SAID SOUTH MARGIN 786.92 FEET; THENCE ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 50.00 FEET THROUGH A CENTRAL ANGLE OF 95°35'05"AN ARC DISTANCE OF 83.41 FEET; THENCE SOUTH 07°44'56"WEST 348.56 FEET; THENCE NORTH 87°50'09"WEST 802.76 FEET; THENCE NORTH 02°09'51" EAST 401.77 FEET TO THE TRUE POINT OF BEGINNING; (ALSO KNOWN AS LOT 3 OF CITY OF TUKWILA BOUNDARY LINE ADJUSTMENT NO. 93-0085, RECORDED UNDER KING COUNTY RECORDING NO. 9311301961); SITUATE IN THE CITY OF TUKWILA, COUNTY OF KING, STATE OF WASHINGTON.