HomeMy WebLinkAbout2000 - Deed of Trust - Holdaas et al - 2000120100192420001201001924
When Recordediuun To
Bran Wichmann
15201 Military Rd S
Seattle, WA 98188
Mil 20 01201 1924
PIS Ire 1 OF DT to ee
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DEED OF TRUST
THIS DEED OF TRUST, made on November 30, 2000 between Timothy A and Sheryl
Holdaas, husband and wife, Grantor, whose address is 4432 S 148th St in Tukwila, WA ,
Bnan Wichmann, Attorney at Law, Trustee, whose address is 15201 Military Rd S, Seattle, WA 98188,
and Thomas A and Shirley Holdaas, husband and wife, Beneficiary whose address is 15908 SE 184th St,
Renton, WA 98058
WITNESSETH Grantor hereby bargains, sells and conveys to Trustee to Trust, with power of
sale, the following descnbed real property m KING County, Washington
Abbreviated legal descnpuon Ptn Of Lots 13 and 14, Block 6, Adams Home Tracts
Full legal description attached as Exhibit A.
N TAX PARCEL NOs 004000 - 0780.08 and 004000 - 05
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which real property is not used pnncipally for agricultural or fanning 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 secunng performance of each agteemcnt of grantor hercm
`" contained, and payment of the sum of two hundred thousand dollars even with interest, in accordance with
the terms of a pronussory note of even date herewith payable to Beneficiary or order, and made by
C73 Grantor, and all renewals, modifications and extensions thereof, and also such further sums as may be
N advanced or loaned by Ben eficrary to Grantor, or any of their successors or assigns, together with mtercst
thereon at such rate as shall be agreed upon
To protect the secunty of this Deed of Trust, Grantor covenants and agrees
To keep the property in good condmon and repair, to pernut no waste thereof, to complete any
building, structure or improvement being built or about to be built thereon, to restore promptly any
budding, 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 tmpainng the secunty of this Deed of
Trust
3 To keep all buildings now or hereafter erected on the property descnbed herein continuously insured
against loss by fire or other hazards in an amount not less than the total debt secured by this Deed of
Trust All policies shall be held by the Beneficiary, and be m such companies as the Beneficiary
may approve and have loss payable first to the Beneficiary as its interest may appear and then to
Grantor. The amount collected under any insurance policy may be apphcd upon any indebtedness
booby secured in such order as tho Beneficiary shall detenrune Such application by the
Beneficiary shall not cause discontinuance of any proceedings to foreclose this Deed of Trust In
the event of foreclosure, all nghts of the Grantor in insurance policies then in force shall pass to the
purchaser at the foreclosure sale
4 To defead nay action or proceeding purporting to affect the security hereof or the nghts or powers
of
Beneficiary or Trustee, and to pay all costs and expenses, rncludmg cost of title search and
attonwy's foes in a reasonable amount, m 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 any
reconveyance fee and the expenses of the Trustee incurred in enforcing the obligation secured
hereby and Trustees attorney's fees actually incurred, as provided by statute
6 Should Grantor fail to pay when due any taxes, assessments, insurance premiums, hens,
encumbrances or other charges against the property hereinabave 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 m an eminent domain proceeding, the
entire amount of the award or such portion thereof 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 swn 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 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 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 heroin, 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 or its authonzed agent shall sell the trust property, in accordance with the Deed of Trust
cNt
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 dike sale as follows (1) W the expense
c of sale, including a reasonable Trustee's fee and attorney's fee, (2) to the obligation secured by this
Deed of Trust, 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
(Ohm execution of thus Deed of Trust, and such as he may have acquired thereafter Trustee's deed
shall recite the facts showing that the sale was conducted m compliance with all the requirements of
law and of this Deed of Trust, which recital shah be pnma face evidence of such compliance and
conclusive evidence 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 exclusive remedy, Beneficiary may cruse 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
m wntmg a successor trustee, and upon the recording of such appointment in the mortgage records
of the county to wluch this Deed of Trust is recorded, the successor trustee shall be vested with all
powers of the original trustee The trustee is not obhgated to notify any party hereto of pending sale
under any other Deed of Trust or any action or proceeding In which Grantor, Trustee or Beneficiary
shall be a party unless such action or proceeding is brought by the Trustec
8 This Deed of Trust apphes to, inures to the benefit of and is bmdmg upon not only the parties
hereto, but on their heirs, devisees, legatees, admwstrators, executors, successors and assigns The
term Beneficiary shall mean the holder and owner of the note secured hereby, whether or not named
as Beneficiary herein
State of Washington
County of King
)
I certify that I know or have sausfactory evidence that Timothy A and Sheryl Holdaas, husband
and wife are the persons who appeared before me, and said persons acknowledged that they sigmed the
instrument, and acknowledged it to be their free and votumary act of such parry for the uses and purposes
therein mentioned
Dated November 30, 2000 _
--01-17%,1 "N Anthony J
�Gt Washington, rest . at Seatac
. . 5s1Oiy'•• 1 My appointment expires 06 /17/02
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Exhibit A
THAT PORTION OF LOTS 13 AND 14, BLOCK 6, ADAMS HOME TRACTS, ACCORDING TO THE
PLAT THEREOF RECORDED IN VOLUME 11 OF PLATS, PAGE 31, RECORDS OF KING
COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS BEGINNING AT THE SOUTHEAST
CORNER OF SAID LOT 13, THENCE N 88°02'35" W, ALONG THE SOUTH LINE THEREOF, 2200
FEET TO THE TRUE POINT OF BEGINNING, THENCE CONTINUING N 88°02'35" W 170 99 FEET
TO THE WEST LINE OF THE EAST ONE -HALF OF SAID LOT 14, THENCE N01°09'52" E ALONG
SAID WEST LINE, 218 08 FEET, THENCE S 88°02'35" E 10105 FEET, THENCE S 01°10'43" W
73 33 FEET, THENCE S 88°02'35" E 7004 FEET, THENCE S 01 °10'43" W 144 75 FEET TO THE
TRUE POINT OF BEGINNING, EXCEPT THE SOUTH 500 FEET THEREOF AS DEDICATED TO
THE CITY OF TUKWILA FOR ROAD PURPOSES BY REC N0 9208121704
THAT PORTION OF LOTS 13 AND 14, BLOCK 6, ADAMS HOME TRACTS, ACCORDING TO THE
PLAT THEREOF RECORDED IN VOLUME 11 OF PLATS, PAGE 31, RECORDS OF KING
COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS BEGINNING AT THE SOUTHEAST
CORNER OF SAID LOT 13, THENCE N 88 W, ALONG THE SOUTH LINE THEREOF, 2200
FEET, THENCE N 01°10'43" E 144 75 FEET, THENCE N 88°02'35" W 7004 FEET, THENCE N
01 °10'43" E 73 33 FEET, THENCE N 88°02'35" W 10105 FEET TO THE WEST LINE OF THE EAST
ONE -HALF OF SAID LOT 14, THENCE N 01°09'52" E 93 00 FEET, ALONG THE WEST LINE
THEREOF, TO THE NORTH LINE OF SAID LOT 14, THENCE S 87°59'10" E, ALONG THE NORTH
LINE OF SAID LOTS 14 AND 13,19307 FEET TO THE NORTHEAST CORNER OF LOT 13,
THENCE S O1 °10'43" W, ALONG THE EAST LINE OF SAID LOT 13, 310 89 FEET TO THE POINT
OF BEGINNING, EXCEPT THE SOUTH 500 FEET THEREOF AS DEDICATED TO THE CITY OF
TUKWILA FOR ROAD PURPOSES BY REC 140 9208121704
End of Exhibit A