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HomeMy WebLinkAbout1991 - Deed of Trust - Section 1301 Services / McLeod Group - 91030113169103011316 NORTHWESTERN TITLE COMPANY °RECEi:vE© O 250 Arctic Building 700 Third Ave. Stank, WA 9&104 (206) 625.1952 12832 NE 85th City and st Kirkland, WA 98033 R- 12503A' Filed for Record at Request of State Mortgage & • • �r =lit , f . t Escro ., , L " 1 �1ii1 1• Z%v 1 ' 91,0:5rOl RECD F $$ DEED OF TRUST cokoc2- � NORTH WESTERN TITLE COM PANY, a corporation, Trustee, whose address is See attached legal description made a part hereof Loc.) � a n ii�' ?. J ., «+4... w • i f + rni:O iJST biide this di March r ate . .� 1st betweezi'''•.804 iaia.\\*0f Services, Inc., a Washington Coporation whose address is 40 Lake Bellevue, Suite 101, Bellevue, Washington 98005 rroperty in King County, Washington: iMls..:rACE PROVIDED FOR RECORDER'S USE, 413 6 7; 7.00 2.0 • tX , 1991 . Grantor, and McLeod Group, Inc., a Washington Corporation Beneficiary whose address is 213 Lake Street South, Kirkland, Washington 98033 WITNESSETH: Grantor hereby bargains, sells and oonveys to Trustee in Trust, with power of gale, the following described real which real property Is not used principally for agricultural or farming purposes, together with all tenements, heredit4rnc nts. 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 aunt of One hundred fifty thousand and no /100 Dollars ($ 15 0 0 0 0 0 with interest, in accordance with the terms of a promissory note of even date herewith payable to Beneficiary or order. an made . b Grantor. and all renewals, modifications, and extensions there- of, 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, etrurcure or inn. provement being built or about to be built thereon; to restore promptly any building, structure or improvement thereon w may be damaged or destroyed; and to comply with all laws, ordinances, regulations, covenants, conditions and restrictions ..lto..ung the property. 2. To pay before delinquent all lawful taxes and assessments upon the property; to keep the property free and clear of all otne, charges, liens or encumbrances impairing the security of this Dad of Trust, 3. To keep all buildings now or hereafter erected on the property described herein continuously insured against look by tire or other hazards in an amount not Tess than the total debt secured by this Reed 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 interest may appear and then to the Grantor. The amount collected under any insurance policy may be applied upon any indebtednew hereby secured in such order as the Beneficiary shall determin. , 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. 21 :t'1 1661'GL'60 '3NI df0dO 0031:JW WOdd 4. To defend any action or proceedin;, 'sporting to affect the security hereof or the to or powers of Beneficiary or Truster., and to•pay all mita and ex ens'es, includits,., coat of title search and atton !y's fees in a '.,,amiable amount, in any such action or , proceeding, and in any suit brought by Beneficiary to foreclose this Deed of Trust. `t• To pay all swats 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 fens actually incurred, pi provided by statute, 6. Should Granter fail to pay when due any taxes, assesamenta, insurance premium, liens, encumbrances or other charges against m b cuured hereby shall described, a edtBeneficiary b become part the debt aeeccu the in this �t interest at the rate act forth in the 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 ,if th award or Such portior} thereof as may be necessary to fully satisfy the obligation secured hereby, shall he paid to Beneficiary to bw 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 pronti: 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 fur rercunvay• ance 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 conteinid herein. all sums secured hereby shall frantediatelv become dlalejand payable at the option of the Beneficiary. In such event and upon written reeueet of Beneficiary, Trustee or its authorized agent shall sell fhe trust property, in accordance to 'it 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':' sale. Trustee Shall apply the proceeds' of the sale as follows: (1) to the expense of sale, including a reasonable Trustee's fee and atu rney's fee; (2) to the obligation secured by this Deed of Trust; (3) the surplus, if any, shall be deposited with the clerk of the superior court of the uuunty in which the sale took place to be distributed in a000rdance with RCW 61.24,080. 5. Trustee shall deliver to the purchaser at the sale ita 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. Trustee's deed shall ratite 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 facia evidence of such compliance and conclusive evi- dence 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 ex.:lu• sive 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 shall appoint to writing a euo ease: trustee, and upon the recording of Such appointment in the mortgage records of the county in which this Dead of Trust is rree.,rde.l the sue-''easor trustee shall be vested with all powers of the original trustee. The trustee is not obligated to notify any party hereto ai CD 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 preceding is brought by the Trustee. G S. This Deed of Trust applies to, inuree to the benefit of, and is binding not only on the parties hereto, but on their hers, ale •� vises, legatees, administrators, executors, successors and assigns. The term Beneficiary shall mean the holder and owner of the nolo Cr) secured hereby, whether or not named as Beneficiary herein- -et ,• T ATE OF WASHINGTON Cf)UNTY OF es r -, '?n this day personally appeared before me to ma known to be the individual described in and who executed the within foregoing instrument, and acknowledged that .Signed the same as i pnultr ea,, ;.. the t • d Dated. ...................... ............. 19 Mail reeonveyance to tary act and deed, for mentioned. d official seal this the State of 19 STATE OF WASHINGTON COUNTY OF D.,• On this_ -day of February 19 91 before me, the undersigned Notary Public in and for the State of Washing ton, duly comrnis'siontd and sworn, personally appeared Toi L. Clark to me known to be the u±G>r - President Riess. the corporation that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corpor• ation, for the uses and purpooes therein mentioned, and on uuth stated that. she is that the seal affixed is Witness my hand above written. ofliciel seal REQUEST' FOR FULL RECONVEYANCE .Do not record. To be used only when note has been paid. SECTION 0' $ R .ES, INC., ash' ation of L. Clam corporate seal of said corporation. authorized to execute the said instrument and affixed t e day and year first Notary P ie leg,'" _heS t of Washington. residing at. 4 TO: TRUSTEE. The undersigned is the legal owner and holder of the note an d all other indebtedness secured by the within Deed of Trust. Said note, together with all other indebtdness secured by said Deed of Trust, has been fully paid and. satisfied; and you are hereby re• quested and directed, on payment to you of any sums owing to you under the term's of said Deed of Trust, to cancel said lint,- above mentioned, and all other evidences of indebtedness secured by said Deed of Trust delivered to you herewith, tcgeth,:r with !lie • • ;!! Deed of Trust, and to convey, without warranty, to the parties designated by the berme of said Deed of Trust, all the ester . held by you thereunder. S1:4I 1661'2Z'60 '3NI dlitidO QJ31jIe Ididd • z •d * * *4N3 * ** DESCRIFTIQNI 41:b1 1661'22'60 EXHIBIT "A" ALL THAT PORTION OF GOVERNMENT LOT 11 AND ALL THAT PORTION OP HENRY MEADER DONATION CLAIM NO. 46 IN THE NORTH 1/2 OF.THE NORTHWEST 1/4 AND THAT PORTION OF THE SOUTHEAST 1/4 OF THE N0RTHID~ST 1/4 ALL SITUATED IN SECTION 25, TOWNS(!IP 23 NORTH. RANGE 1 EAST W.M., BOUNDED AS FOLLOWS: ON THE WEST BY A LINE DRAWN PARALLEL WITH AND DISTANT 43 PEST EASTERLY MEASURED AT RIGHT ANGLES TO THE CHICAGO. MILWAUKEE AND ST. PAUL RAILWAY MAIN TRACK CENTERLINE AS LOCATED AND CONSTRUCTED; ON THE EAST AY A LINE DRAWN PARALLEL WITH AND DISTANT SO FEET WESTERLY .' MEASURED AT RIGHT ANGLES 1"0 BURLINGTON NORTRERNN'RAILROAD COMPANY'S 01.0 MAIN ,..‘LINE TRACK CENTERLINE AS NOW LOCATED AND CONSTRUCTED; x.; - t-OW - THE SOUTH BY A LINE DRAWN PARALLEL WITH AND pWSTANT 330 FEET SOUTHERLY AT • y. : RIGHT: ANGLES TO THE SOUTH LINE OP SAID GOVERNMENT LOT 11; z {. •; ,Ot1 THE NORTH BY THE SOUTH MARGIN OF THE CITY OF SEATTLE'S 30 FOOT WIDE BON ©° Z44'PIPELINE'R1GHT- OP•WAY, AS CONVEYED TO THE CITY OF SEATTLE. BY DEED ►-� 'RECORDED UNDER RECORDING NO 4131067; EXCEPT THAT PORTION THEREOF. DESCRIBED AS FOLLOWS: aep BEGINNING AT A POINT ON THE SOUTH LINE OF SAID DONATION CLAIM AND THE EAST MARGIN OP THE CHICAGO, MILWAUKEE, ST. PAUL & PACIFIC RAILROAD RIGHT -OF -WAY; ►-w THENCE EASTERLY A DISTANCE OF 120 FEET ALONG SAID SOUTH LINE OP SAID cn DONATION CLAIM; o "' THENCE NORTHEASTERLY MEASURED AT RIGHT ANGLES TO SAID SOUTH LINE A DISTANCE OF '� BO FEET; THENCE WESTERLY PARALLEL WITH SAID SOUTH LINE TO SAID EASTERLY MARGIN OF SAID ■x CHICAGO, MILWAUKEE. ST. PAUL 6 PACIFIC RAILROAD RIGHT -OF -WAY; THENCE SOUTHERLY ALONG SAID RAILROAD RIGHT -OF -WAY TO THE POINT OF BEGINNING; EXCEPT ALL COAL AND MINERALS AND THE RIGHT TO EXPLORE FOR AND MINE THE SAME. AS CONVEYED BY DEEDS RECORDED UNDER KING COUNTY RECORDING NOS. 84U40b0V08 mu 8404000909; SITUATE IN THE CITY OF TUKWILA, COUNTY OF KING. STATE OF WASHINGTON. 'GNI df10d0 003,0W Woad