HomeMy WebLinkAbout2006 - Deed of Trust - Ngo et al - 2006051100221720060511002217
Recording requested by and
when recorded return to:
Washington Mutual Bank
2005 Cabot Blvd. West
Langhorne, PA 19047
Attn: Group 9, Inc.
'I)
Washington
Mutual
THIS DEED OF TRUST (Security Instrument) is between:
QUAN H. NGO, KHAI H. HUYNH AND MICHAEL T. WONG JOINED BY SPOUSES, PHONG KY
HOANG, KRISTIE T NGO AND PHUONG L PHAM
whose address is:
( "Grantor ");
address of which is:
Tax Parcel Number:
•
•
IMMO
60 511002217
2� 3
GROUPS IKC 00 47
04%10/x008 14 36
KING COUNTY , Lin
3225 S 276TH ST AUBURN, WA 98001 -1807
Group 9, Inc. a PENNSYLVANIA
2005 Cabot Blvd. West Langhorne, PA 19047
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WaMu Mortgage Plus'
DEED OF TRUST
Loan Number: 0661570515
corporation, the
( "Trustee "); and
Washington Mutual Bank, a federal association, which is organized and existing under the laws of
the United States of America and whose address is 2273 N Green Valley Parkway, Suite #14,
Henderson, NV 89014 ( "Beneficiary ") and its successors or assigns.
1. Granting Clause. Grantor hereby grants, bargains, sells and conveys to Trustee in trust,
with power of sale, the real property in KING County, Washington, described
below and all rights and interest in it Grantor ever gets:
LYING AND BEING LOCATED IN THE CITY OF TUKWILA, COUNTY OF KING, STATE OF
WASHINGTON; ALL THAT CERTAIN PARCEL OR TRACT OF LAND KNOWN AS:
THE WEST 218.5 FEET OF THE NORTH HALF OF TRACT 4, RIVERSIDE INTERUBAN TRACTS,
ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 10 OF PLATS, PAGE 74, 11\1 KING
COUNTY, WASHINGTON.
734060 -0081 together with all
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insurance proceeds and condemnation proceeds related to it; income, rents and profits from it; all
plumbing, lighting, air conditioning and heating apparatus and equipment; and all fencing, blinds,
drapes, floor coverings, built -in appliances and other fixtures at any time installed on or in or used in
connection with such real property.
All of the property described above is called the "Property." If any of the Property is personal
property, this Deed of Trust is also a Security Agreement which grants Beneficiary, as secured
party, a security interest in all such property. Despite any other provision of this Deed of Trust,
however, Beneficiary is not granted and will not have a nonpurchase money security interest in
household goods, to the extent such security interest would be prohibited by applicable law. As
used herein "State" shall refer to the State of Washington.
2. Obligation Secured. This Deed of Trust is given to secure performance of each promise of
Grantor contained herein and in a WaMu Mortgage Plus(TM) Agreement and Disclosure with
Beneficiary with a maximum credit limit of $ 179,400.00 (the "Credit Agreement "),
including any extensions, renewals or modifications thereof, and repayment of all sums borrowed by
Grantor under the Credit Agreement with interest from the date of each advance until paid at the
rates provided therein. The Credit Agreement provides for variable and fixed rates of interest.
Under the Credit Agreement, the Grantor may borrow, repay and re- borrow from time to time, up to
the maximum credit limit stated above, and all such advances shall be secured by the lien of this
Deed of Trust. This Deed of Trust also secures payment of certain fees and charges payable by
Grantor under the Credit Agreement, certain fees and costs of Beneficiary as provided in Section 9
of this Deed of Trust and repayment of money advanced by Beneficiary to protect the Property or
Beneficiary's interest in the Property, including advances made pursuant to Section 6 below. The
Credit Agreement provides that unless sooner repaid, the Debt is due and payable in full thirty (30)
years from the date of this Deed of Trust (the "Maturity Date "). All amounts due under the Credit
Agreement and this Deed of Trust are called the "Debt."
3. Representations of Grantor. Grantor represents that:
(a) Grantor is the owner of the Property which is unencumbered except by easements,
reservations, and restrictions of record not inconsistent with the intended use of the Property and
any existing first mortgage or deed of trust given in good faith and for value, the existence of which
has been disclosed in writing to Beneficiary; and
(b) The Property is not presently and will not during the term of this Deed of Trust be
used for any agricultural purposes.
4. Promises of Grantor. Grantor promises:
(a) To keep the Property in good repair and not to remove, alter or demolish any of the
improvements on the Property without first obtaining Beneficiary's written consent;
(b) To allow representatives of Beneficiary to inspect the Property at any reasonable hour
and to comply with all laws, ordinances, regulations, covenants, conditions and restrictions
affecting the Property;
(c) To pay on time all lawful taxes and assessments on the Property;
(d) To perform on time all terms, covenants and conditions of any prior mortgage or deed
of trust covering the Property or any part of it and pay all amounts due and owing thereunder in a
timely manner;
(e) To see to it that this Deed of Trust remains a valid lien on the Property superior to all
liens except those described in Section 3(a) and to keep the Property free of all encumbrances
which may impair Beneficiary's security. It is agreed that if anyone asserts the priority of any
encumbrance other than those described in Section 3(a) over this Deed of Trust in any pleading filed
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in any action, the assertion alone shall be deemed to impair the lien of this Deed of Trust for
purposes of this Section 4(e);
(f) To keep the improvements on the Property insured by a company satisfactory to
Beneficiary against fire and extended coverage perils, and against such other risks as Beneficiary
may reasonably require, in an amount equal to the full insurable value of the improvements and to
deliver evidence of such insurance coverage to Beneficiary. Beneficiary shall be named as the Toss
payee on all such policies pursuant to a standard lender's loss payable clause. The amount
collected under any insurance policy may be applied upon any indebtedness hereby secured in the
same manner as payments under the Note or, at Beneficiary's sole option, released to Grantor. In
the event of foreclosure or sale of the Property pursuant to the Trustee's power of sale, all rights of
the Grantor in insurance policies then in force shall pass to the purchaser at the Sheriff's or
Trustee's sale;
(g) To sign all financing statements and other documents that Beneficiary may request
from time to time to perfect, protect and continue Beneficiary's security interest in the Property.
Grantor irrevocably appoints Beneficiary as Grantor's attorney -in -fact to execute, file and record any
financing statements or similar documents in Grantor's name and to execute all documents
necessary to transfer title if there is a default; and
(h) To advise Beneficiary immediately in writing of any change in Grantor's name, address
or employment.
5. Sale, Transfer or Further Encumbrance of Property. Loan is personal to Grantor and the
entire Debt shall become immediately due and payable in full upon sale or other transfer of the
Property or any interest therein by Grantor by contract of sale or otherwise including, without limit,
any further encumbrance of the Property.
6. Curing of Defaults. If Grantor fails to comply with any of the covenants in Section 4,
including all the terms of any prior mortgage or deed of trust, Beneficiary may take any action
required to comply with any such covenants without waiving any other right or remedy it may have
for Grantor's failure to comply. Repayment to Beneficiary of all the money spent by Beneficiary on
behalf of Grantor shall be secured by this Deed of Trust. At Beneficiary's option, advance may be
made against the Credit Agreement to pay amounts due hereunder Such shall not relieve Grantor
from liability for failure to fulfill the covenants in Section 4. The amount spent shall bear interest at
the rates from time to time applicable under the Credit Agreement and be repayable by Grantor on
demand. Although Beneficiary may take action under this paragraph, Beneficiary is not obligated to
do so.
7. Remedies For Default.
(a) Prompt performance under this Deed of Trust is essential. If Grantor does not pay
any installment of the Debt or other amount due hereunder on time, any other event occurs that
entitles Beneficiary to declare the unpaid balance of the Debt due and payable in full under the
Credit Agreement, if Grantor fails to comply with any other term, condition, obligation or covenant
contained in the Credit Agreement or this Deed of Trust or any rider thereto, any other deed of
trust, mortgage, trust indenture or security agreement or other instrument having priority over this
Deed of Trust or if any representation of Grantor herein was false or misleading, the Debt and any
other money whose repayment is secured by this Deed of Trust shall immediately become due and
payable in full, at the option of Beneficiary, and the total amount owed by Grantor shall thereafter
bear interest at the rate(s) stated in the Credit Agreement. Beneficiary may then or thereafter
advise Trustee of the default and of Beneficiary's election to have the Property sold pursuant to
Trustee's power of sale in accordance with applicable law and deliver to Trustee any documentation
as may be required by law. After giving any notices and the time required by applicable law,
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Trustee shall sell the Property, either in whole or in separate parcels or other part and in such order
as Trustee may choose, at public auction to the highest bidder for cash in lawful money of the
United States which will be payable at the time of sale, all in accordance with applicable law.
Anything in the preceding sentence to the contrary notwithstanding, Beneficiary may apply the Debt
towards any bid at any such sale. Trustee may postpone any such sale by providing such notice as
may be required by law. Unless prohibited by law, any person, including the Grantor, Beneficiary or
Trustee, may purchase at any such sale. Trustee shall apply the proceeds of the sale as follows:
(1) to the expenses of the sale, including a reasonable trustee's fee and lawyer's fee; (ii) to the
obligations secured by this Deed of Trust; and (iii) the surplus, if arty, shall go to the person(s)
legally entitled thereto or, at Trustee's discretion, to the government or other official authorized by
State law to accept such amounts.
(b) 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 execution of this Deed of Trust and any interest which Grantor subsequently
acquired. 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. This recital shall be prima
facie evidence of such compliance and conclusive evidence of such compliance in favor of bona fide
purchasers and encumbrancers for value.
(c) To the extent permitted by law the power of sale conferred by this Deed of Trust is
not an exclusive remedy. Beneficiary may cause this Deed of Trust to be judicially foreclosed or sue
on the Credit Agreement or take any other action available in equity or at law. In connection with
any portion of the Property which is personal property, Beneficiary shall further be entitled to
exercise the rights of a secured party under the Uniform Commercial Code as then in effect in the
State of Washington.
(d) By accepting payment of any sum secured by this Deed of Trust 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.
8. Condemnation; Eminent Domain. 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 by this Deed of Trust, shall be paid to
Beneficiary to be applied to the obligation in the same manner as payments under the Credit
Agreement.
9. Fees and Costs. Grantor shall pay Beneficiary's and Trustee's reasonable costs of
searching records, other reasonable expenses as allowed by law and reasonable attorney's fees in
any lawsuit or other proceeding to foreclose this Deed of Trust, in any lawsuit or proceeding which
Beneficiary or Trustee prosecutes or defends to protect the lien of this Deed of Trust, in any other
action taken by Beneficiary to collect the Debt, including without limitation any disposition of the
Property under the State Uniform Commercial Code, and any action taken in bankruptcy
proceedings as well as any appellate proceedings.
10. Reconveyance. Trustee shall reconvey the Property to the person entitled thereto on
written request of Beneficiary or following satisfaction of the obligations secured hereby and
Beneficiary and Trustee shall be entitled to charge Grantor a reconveyance fee together with fees
for the recordation of the reconveyance documents, unless prohibited by law.
11. Trustee; Successor Trustee. Beneficiary may, unless prohibited by law, appoint a
successor Trustee from time to time in the manner provided by law. The successor Trustee shall be
vested with all powers of the original Trustee. The Trustee is not obligated to notify any party
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hereto of a 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.
12. Savings Clause. If a law which applies to this Deed of Trust or the Credit Agreement and
which sets maximum loan charges is finally interpreted by a court having jurisdiction so that the
interest or other loan charges collected or to be collected in connection with this Deed of Trust or
the Credit Agreement exceed the permitted limits, then: (i) any such loan charge shall be reduced by
the amount necessary to reduce the charge to the permitted limit; and (ii} any sums already
collected from Grantor which exceeded permitted limits will be refunded to Grantor. Beneficiary
may choose to make this refund by reducing the principal owed or by making a direct payment. If a
refund reduces the principal, the reduction will be treated as a partial prepayment.
13. Miscellaneous. This Deed of Trust shall benefit and obligate the heirs, devisees, legatees,
administrators, executors, successors and assigns of the parties hereto. The term "Beneficiary"
shall mean the holder and owner of the Credit Agreement secured by this Deed of Trust, whether or
not that person is named as Beneficiary herein. The words used in this Deed of Trust referring to
one person shall be read to refer to more than one person if two or more have signed this Deed of
Trust or become responsible for doing the things this Deed of Trust requires. This Deed of Trust
shall be governed by and construed in accordance with federal law and, to the extent federal law
does not apply, the laws of the State of Washington. If any provision of this Deed of Trust is
determined to be invalid under law, the remaining provisions of this Deed of Trust shall nonetheless
remain in full force and effect.
14. Beneficiary and Similar Statements. Beneficiary may collect a fee in the maximum amount
allowed by law for furnishing any beneficiary statement, payoff demand statement or similar
statement.
15. Riders. If one or more riders are executed by Grantor and recorded together with this
Security Instrument, the covenants and agreements of each such rider shall be incorporated into and
shall amend and supplement the covenants and agreements of this Security Instrument as if the
rider(s) were a part of this Security Instrument. [Check applicable box(es)]
❑ Condominium Rider ❑ Other:
(specify)
❑ Planned Unit Development Rider
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By signing below, Grantor accepts and agrees to the provisions of this Deed of Trust and any
rider(s) executed by Grantor concurrently therewith.
DATED at Ve,S M O the.
GRANTOR(S):
QU H NGO
A 11011 'A L r$. h ./
KHAI H F NH
The undersigned joins in the execution and delivery of this Security Instrument to subordinate any
interest he or she may have or may acquire in the subject Property, including without limitation,
any homestead or marital rights, and to acknowledge all the terms and covenants contained in this
Security Instrument and any riders hereto.
;Or � H a'1Y � OANG o D 0
KRISTIE T NG � /n ,
I rflit
P1 1.21/ G L PRAM
32 :54 (11/10/05) w7.1
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this a C9 day of Apr: t , ,2Ob(0 .
BANK
20060511002:
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Page 6 of 7
STATE OF WASHINGTON
COUNTY OF
On this day personally appeared before me :
QUAN H NGO
MICHAEL T. WONG
KHA1 H HUYNH
PHONG KY HOANG
KRISTIE T NGO
PHUONG L PHAM
to me known to be the individuals described in and who executed the within and foregoing instrument and
acknowledge that they signed the same as their free and voluntary act and deed, for the uses and purposes
therein mentioned.
WITNESS my hand and official seal this or- d day of
Notary Public i and for he State of Washington
Residing at: S 1( D irvt, l
S !k
My Commission expires: ('r. 0 76 9Oot
TO: TRUSTEE
The undersigned is Beneficiary of the within Deed of Trust, and the legal owner and holder of
the WaMu Mortgage Plus(TM) Agreement secured thereby. Said Deed of Trust is hereby
surrendered to you for reconveyance and you are requested, upon payment of all sums owing to
you, to reconvey without warranty, to the person(s) entitled thereto the right, title and interest now
held by you thereunder.
DATED
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K n
}
1 SS
Ar,
REQUEST FOR FULL RECONVEYANCE
Do not record. To be used only when Grantor's
indebtedness has been repaid and Credit Agreement cancelled.
Washington Mutual Bank
By
BANK Page 7 of 7
Its
0661570515
, ,006
200605110022
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