HomeMy WebLinkAbout2005 - Deed of Trust - Kocchar Kanwaljit Singh / GHR LLC - 20051121002111KANWALJIT SINGH KnCHHAR
5708 S 142nd ST
TIJKWTLA WA 98168
FILE NO. 4051101
GARY P. SCHUBTZ'- Attorney
1900 SOUTH 'PUGET DR, STE 208
RENTON, WA . 98055
DEED OF TRUST
(For Use in the State of Washington Only)
RE: 5708 S 142nd ST, TUKWILA WA 98168 & 918 W MEEKER ST. KENT WA 98032
Grantor(s): GHR, LLC
Grantee(s): KOCHHAR, Kanwaal�ji Singh
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Assessor's Tax Parcel LD, No. 336590- 0765 -09 & 242204 - 9104 -
THIS DEED OF TRUST, made this
„[ „A , Washirgton limited liability company
GRANTOR
whose address is
16TH day of NOVEMBER
15842 94th AVE SW, BURIEN WA 98166
whose address is 5708 S 142nd ST TUKWILA WA 98168
Pate! of 4
ill' I
20051121002111
OLD REPUBLIC J t DT 38.80
PROPOS OF 00
K COUNTTY, WA
20051121002111.001
2005 between
GARY P. SCHUETZ - Attorney at Law,
address is 1900 SOUTH PUGET DR, STE208, RENTON, NA 98055,' and
jggitt►j„7j;T §ThIGH KO AR, an unmarried individual.
BENEFICIARY,
TRUSTEE, whose
WITNESSETH: Grantor hereby bargains, sells and conveys to Trustee in Trust, with power of sale, the
following described real property in KING County, Washington:
LEGAL DESCRIPTION attached hereto as "EXHIBIT A” and incorporated herein by .
this reference thereto.
The property described herein may not be sold or otherwise transferred prior
to payment in full of the Note herein secured without the Beneficiary's
consent. Breach of this provision will result in all sums hereby secured
becoming imediately due and payable at the option of the Beneficiary.
See "ALL— INCLUSIVE DEED OF TRUST RIDER" (2) attached hereto and incorporated
herein by this reference thereto.
�
OLD REPUBLIC T11i.E LTD. Cr) ` t .
which real property is not used principally for agricultural or farming purposes, together with all the 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 FDUR.HUNDR>;R..T.0 1 'HOIJSAND & N /Mars ($ 420,000.00--- - ----- )
with interest, in accordance with the terms of a promissory 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 and 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; 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 lire or other hazards in an amount not less that the total debt secured by the 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 interest may appear, and then to the Grantor. The amount
collected under any insurance 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 proceedings purporting to affect the security hereof or the rights or powers of the
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 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.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 At 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 of Trust; (3) the surplus, if any, shall be distributed to the persons
entitled thereto.
5. Trustee shalt 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. 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 conclusive evidence thereof in favor of
bona tide purchaser and encumbrancers 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 Ibis Deed of Trust to be foreclosed as a mortgage.
O il
Page 2 of 4
2005112100211'x002
7. In the event of the death, incapacity, disability or resignation of the 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,
R. This Deed of Trust applies to, insures 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 ccured hereby, whether or not named as :encficiary herein.
for "w
GHR, LLC l GHR, LLC
State of Washington
County of ...KING
State of Washington
County of Kific3
•.. (Seal or Stamp)
Page 3 of 4
Ay: G(IRUNAM SINGH, Member
I certify that I know or have satisfactory evidence that a%l2DEV SINGH MANN and
GURUNAM SINGH (Name of Person)
is the person who appeared before me, and said person acknowledged that (he/she) signed this instrument and
acknowledged it to be (his/her) free and voluntary act for the uses and purposes mentioned in the instrument.
Dated:
(Signature)
(Seal or Stamp) • t;ARY P t SCBUETZ, Notary Public
My appointment expires
(Title)
05 -04 -07
I certify that I know or have satisfactory evidence that and O SII�GH MANN
and • QIRLII>fAM_ SINGH
(Name of Person)
is the person whoa
appeared before me, and said person acknowledged that (he/she) signed this instrument, on
oath stated that (halshe) was authorized to execute the instrument and acknowledged it as the
Managing Members
(Type of authority, e.g., officer, trustee. etc.)
CUR, LLC
(Name of party on behalf of whom the instrument executed)
to be the free and voluntary act of such party for the uses and
Dated: // d
pu.4
Y P Z (' . Public
• .. �
,1 +.otol t� f f . My appointment expires (Tllle) i,5 0 4 / 07.
20051121002111.003
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 ether indebtedness secured by said Deed of Trust, has been fully aid 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 reconvey, without warranty, to the parties designated by the terms of said Deed
of Trust, all the estate now held by you thereunder.
Dated:
4
REQUEST FOR FULL RECONVEYANCE
Do nor record. To be used only when nose has been paid.
Page 4 of 4
20051121002111.004
LEGAL DESCRIPTION EXHIBIT
The land referred to is situated in the County of King, City of Tukwila, State of Washington, and
is described as follows:
PARCEL A:
Lot(s) 1 and 2, Block 8, HILLMANS SEATTLE GARDEN TRACTS, according to the plat thereof recorded in
Volume 11 of Plats, page(s) 24, records of King County, Washington.
PARCEL B:
That portion of the Southeast quarter of the Northwest quarter of Section 24, Township 22 North, Range 4
East, W.M., in King County, Washington, described as follows:
Beginning at the intersection of the South line of Meeker Avenue, now Meeker Street, with the East line of
Madeen Avenue;
THENCE East along the South line of Meeker Avenue, now West Meeker Street, 60 feet to the True Point of
Beginning?
THENCE South parallel to the East line of Madeen Avenue 180 feet;
THENCE East 60 feet;
THENCE North parallel to the East line of Madeen Avenue 180 feet;
THENCE West 50 feet to the True Point of Beginning.
BOTH SITUATE in the County of IGng, State of Washington
LL- INCLUSIVE D® OF TRUST RID
This Deed of Trust is junior and subordinate to and inclusive of that
certain Deed of Trust dated 12/30/02 under.King County
Rep No 20030106002853 executed by Beneficiary herein in the
original amount of $' 138, 950.00 the present , unpaid - :3balance. of which
as of the date of this Deed of Trust is approximately $134,633.00.
The Beneficiary herein agrees to continue to pay said Deed of Trust
from payments received hereunder according to all terms and
conditions contained therein.
In the event Beneficiary fails to make any payments under said prior
Deed of Trust, Grantor herein may give written notice to Beneficiary
that unless any such delinquent payments are made within fifteen (15)
days, Grantor will make the payments together with any late charge,
additional interest, penalties and costs assessed by the holder of
said prior Deed of Trust. The 15 day period , may be shortened to
avoid the exercise of any remedy by said holder. Grantor herein may
deduct any amounts so paid plus a late charge of 5.000% of the amount
so paid and any attorney's fees and costs incurred by Grantor in
connection with the delinquency from payments next becoming due
Beneficiary hereunder. In the event Grantor makes such delinquent
payments on three accessions, Grantor shall have the right to make
all payments due thereafter directly to the holder of said prior Deed
of Trust and deduct the then balance owing on such prior Deed of
Trust from the then owing balance owing on this Deed of Trust and
reduce the monthly payments hereunder by the amount so paid on said
prior Deed of Trust as such payments become due.
Member = GEM, LLC
ACCE ED AND APPROVED BY BENEFICIARY:
(BENEFICIARY) KANWALJIT SINGH KCCHHAR
(BENEFICIARY)
20051121uut1il.uuo
This Deed of Trust is junior and subordinate to and inclusive of that
certain Deed of Trust dated 12/03/01 under. King County
Rec No 20011219002893 executed by Beneficiary herein in the
original amount of $'85, 000.00 the present. unpaid" balance' of. which
as of the date of this Deed of Trust is approximately $ 85,208.00.
The Beneficiary herein agrees to continue to pay said Deed of Trust
from payments received hereunder according to all terms and
conditions contained therein.
In the event Beneficiary fails to make any payments.under said prior
Deed of Trust. Grantor herein may give written notice to Beneficiary
that unless any such delinquent payments are made within fifteen (15)
days, Grantor will make the payments together with any late charge,
additional interest, penalties and 'coats assessed by the holder of
said prior Deed of Trust. The 15 day period may be shortened to
avoid the exercise of any remedy by said holder. Grantor herein may
deduct any amounts so paid plus a late charge of 5.000% of the amount
so paid and any attorney's fees and costs incurred by Grantor in
connection with the delinquency from payments next becoming due
Beneficiary hereunder. In the event Grantor makes such delinquent
payments on three accessions, Grantor shall have the right to make
all payments due thereafter directly to the holder of said prior Deed
of Trust and deduct the then balance owing on such prior Deed of
Trust from the then owing balance owing on this Deed of Trust and
reduce the monthly payments hereunder by the amount so paid on said
prior Deed of Trust as such payments become due.
ACCEPTED AND APPROVED BY BENEFICIARY:
ms's_
(BENEFICIARY) - KANWALJIT SINGH KOCHHAR
(BENEFICIARY)
ALL-INCLUSIVE DEED OF TRUST RIDER
20051121002111.007