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HomeMy WebLinkAbout2001 - Deed of Trust - Caruthers Ralph / Boeing Employees Credit Union - 2001121700271820011217002718 Return Address Boeing Employees Credit Union Attic Loan Adnematration P O Box 97050 Seattle, Washington 98124 -9750 2001121 002.1 tmliN [Space Above This Lute For Recording Data] DEED OF TRUS a i -t1/4�- �TEWART TiTLe) THIS DEED OF TRUST ("Sectary Instrument") to made on Decanter 10.2001 The grantor is RALPH CARUTHERS AND PATRICIA CARUiHERS, HUSBAND AND WIFE ("Barman The trustee is BTEWART ("Th site") The beneficiary is Boeing Employees' Credit Union, which is orgsazed and casting wider the laws of the State of Washington and whose address is P.O. Box 97050, Status, Washington 981244750 (Render") Borrower owes Lender the principal sum of S 27,80017 U S Dollars This debt u en evidenced by Borrowers Note dated the same due as this Secunty Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid ember, due and payable on Decanter 20, 2018 Wets the parties to the Note agree to extend this date) This Security but uu ixt secures to Lender (a) the repayment of the debt evidenced by the Note, with =crest, and all renewals, extensions and modiS abons of the Note, (b) the payment of all other mum, with interest, advanced tinder paragraph 6 to protect the security of this Security Instrument, and (c) the performance of Borrower's covenants and agreements under this Security Iustri n nt and the Note For this purpose, Borrower irrevocably grants and conveys to 'Trustee, in trust, with power of sale, the following described property located in KING Canty, Washington Loin Reference Number 1116888 Abbreviated Legal Description 92.03 -94 2 HILLMANS MEADOW GARDENS DIY (d 1 N 1R OF 93 ABB OF93 &S1120F94 Assesses Property Tax Parcel Number or Account Number(s) 334740-0490 THE NORTH HALF OF LOT 02 ALL OF LOT 93 AND THE SOUTH HALF OF LOT 94, BLOCK 2, HILLMANS MEADOW GARDENS, DIVISION NO t ACCORDING TO THE PLAT THEREOF RECORDED N VOLUME 12 OF PLATS PAGE 54, N KING COUNTY. WASHINGTON which has the address of 11853 44TH AVE S TUKWILA posed - KIM Washington 88188 ("Property Address "), t2p Code1 TOGEIHER WITH all the miprovements now or hereafter erected on the property, and all asatimts, appurtenances, and Extorts now or hereafter a part of the property All replacer: and additroas shall also be covered by this Security hstmment Mt of the foregoing is referred to in this Security lnstneoent as the COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and Ms ere ri to rant and convey the Property and dial die Property is unencumbered, except for encumbrances of record Borrower warrants and will defend generally the title to the Property against all clams and demands, subject to any cncumbcances of record THIS SECURITY 1NSTRUMENf combines tmiform covenants for national use and non- wuform cove ants with hinted variations by jurisdiction to constitute a uniform security instrument covering real property UNIFORM COVENANTS Borrower and Lender covenant and agree as follows 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Not 2. Appllcahon of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraph I shall be applied Brat, to any prepayment charges due under die Note, second, to any late charges due tinder the Note, thud, to interest due, and hst, principal due 3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, Foes and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground mu, any Borrower shall pay these obligations an time directly to the person owed payment Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph If Borrower makes these payments directly, Borrower shall proaptly furnish to Lender receipts evidencing the payments Borrower shall promptly discharge any hen which has priority over this Security host ument unless Borrower (a) agrees inn writing to the payment of the obligation secured by the ben in a manner acceptable to Lender, (b e contests m good faith the heui by, or defends against enforcement of the hen in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the hen, or (c) secures Sour the bolder of the hen an agreement satisfactory to Lender r subordinating the hen to this Security Instrtmient If Lender determines that any port of the Property is subject to a lien which may attain priority over thus Security Instrument, Lender may give Borrower a notice identifying the hen Borrower shall satisfy the Lien or take one or more of the actions set f rth above within 10 days of the giving of notice OTBS 093A W A(13/00) (MF 1 d4 pages 4. Hazard or Property Insurance. Borrower shall keep the mntovernents now emitting or hereafter erected an the Property insured against loss by fire, hazards included within the term "extended coverage' and any other hazards, including floods or flooding, for which Lender requires insurance This ammance shall be maintained in the amaeint and for the periods that Leader requires The insurance earner providing the menace shall be chosen by Borrower *ducats Lender', approval which shall not be unreasonably withheld If Borrower fads to mamam coverage described above. Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property m accordance with paragraph 6 All insurance pobctes and renewals shall be acceptable to Lender and shall include a standard nulgsge da use Lender shall have the right to hold the policies and renewals if Lender requires, Benner shall promptly give to Leader all receipts of paid premums end renewal notices In the event of loss Borrow shall give prompt notice to the insurance earner and Lender Leader may make proof of loss if not rode promptly by Borrower Unless Lender and Borrower otherwise agree in witting, insurance proceeds shall be apphed an rtstor on or rem of the Property damaged, if the restoration or repay is economically feasible and Lender's security is not lessened If the restoration or repair is not economically feasible or Lender's seamy would be lessened, the insurance proceeds drat! be en applied to the mans secured by this Security instrumen; whether or not then due, with any excess paid to Borrower If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, than Lender may collect the insurance proceeds Leader may use the meads to repair or restore o the Property or to pay sums secured by this Security i arene s% whether or not tam due The 30.&y period wilt begin • what the notice is gym ` s. Unless Lender and Borrower otherwise agree in worn, any apple on of proceeds to principal shall not catoad a postpone the dare date of the mardily payments referred to in paragraph 1 or change the mrorart of the payments If under era paragraph 20 the Property is acquired by Dander, Barow+e's tight to any Insurance polies and proceeds resuhsog from damage to the Property prior to the acquisition dull pass to Lender to the extent of the ems secured by due Security Instrument maaedutely pnof to the acquisition • 5. Preser atron, Maintenance end Protection of the Property; Borrower's Lan Apphiadsn; Leaseholds. Borrower shall not destroy, damage or =par the Property, allow the Property to deteriorate, or ammo ware as the Property Borrower shall bear default if any forfeiture action or procathag whether end ec enmenal, is begun that m Lenders good fad Judgment could result m Lodetture of the Property or otherwise materially rtnpatr the hat created by this Security Instrument or Lender's security newest Borrow army tame such a default and temstste, as provided in paragraph 17, by causing the action or proceeda;g b be dismissed with a tutors tat, m Lender's good fhdt dean, precludes forfeiture of the Borrower's interest in the Property or other mate ial =pains= of the hen crested by this Security instrument or Lender's security uttered Borrower shall also born default narrow. dialog the lean apphatart proems, gave materially false or maccurate information or statements to Lender (or failed to pronde Larder with any material information) m connection with the loan evidenced by the Note H this Security instrument is ca t lemehold, Borrower shall comply with all the provisions of the lease If Borrower acquires fee title to the Property, the leasehold and the fee tribe shall root merge mikes Lender agrees b the merger m writing 6. Protection of Lender's Rights In the Property. If Borrower fads to perform the covenants and agreements =tamed in this Security Instrument, or than s a legal proceeding that any agnificandy affect Leader's rghts n die Property (such as a proceeding m bankruptcy, probate, err condemnation or forfeiture or to enforce taws or regulat:es), threes Larder any do and pay fa whatever is necessary to protect the Tabu of the Property and Lendees tights m the Property. Lender's actions may include paying any arms secured by a ben which has priority over this Security between; appearing in cote; paying reasonable attorneys' fees and a tenng on the Property to nuke repairs Although Lander may take action under this paragraph 6, Lender does not have to do so Any amount disbursed by Lender under this paragraph 6 shall become additional debt of Borrower seemed by this Security hutment Unless Borrower and Larder agree to other teams of payment, these amounts shall beer interest from the date of disbursement at the Note rate and shall be payable, with tutee t, upon notice from Linder an Borrower requestmg Payer 7. Mortgage Insurance. If Lender required itrortgage nsuumce as a ceadrtion of makaag the loan secured by this Security Iustnamer; Borrower shall pay the rennin required to maintain the mortgage tomertee in effect 14 for any ream, the mortgage insurance coverage required by Linda lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the mortgage mans= previously in effect ate coat substantially equivalent to the cost to Borrow of the mortgage mum= previously in effect, from an are hate mortgage surer approved by Lender If subetmtisliy egtnvalart mortgage msiaro= coverage If not available. Borrower shall pay to Lender each meaty s sum equal to ono-twelfth of the yearly mortgage insurance premum bang pad by Borrower when the usuaace coverage lapsed or ceased to be in effect Leader will accept, use and ream Wee payments at e ban reserve in hen of mortgage insurance Loss reserve payments may no longer be required at the option of Lender, if mortgage insurance coverage (in the amount and for the period that Lender regimes) provided by an insurer approved by Leader again becomes available and s obtained Borrower shall pay the premiums required to mamma mortgage mewance in effect, or to provide a loan reserve, unel the requirement for mortgage insurer= ends in aoco dsoche with any written ggreemmt between Borrower and Lender or applicable law S. IImpection. Lauder or its agent may make reasonable mines upon and inspections of the Property !.ender dell give Borrower notice at the tine of or pnor to an inspection specttimg reasooabk cause for the inspection !. Condematlon. The proceeds of any award or clamp for damages, direct or caawquentigl, qtr connection with any condemnation or other taking of any part of the Property, a for conveyance as lieu of condemation, are hereby assigned and shall be paid to Lender bi the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Inatumen% whether or not that due, with any excess pad to Borrower In the event of a partial taking of to Propaty m which the fair market value of die Property mnrsdrately before the taking is equal to or greater than the amount of the nuns secured by this Security Instrument mnenedrately before the taking, =less Borrower and Linder otherwise agree in warm& the sums accrued by this Security instrument shall be reduced by the amount of the proceeds multiplied by the following fraction (a) the total amount of the sums secured umnediately before the taking, divided by (b) the far market value of die Property immediately before the Wang Any balance shall be paid to Borrow In the event of a portal ta of the Property in which the far market value of the Property immediately before the taking less than the amount of the suns secured mnn ediately before the tatting unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security instrument whetter or not the sums are then due OTSS eS3A WA(12/00) (pima of mu) If the Property is abandoned by Borrower, or if atter notice by Lender to Borrower that the condemner offers to make an award or settle a claim for damages. Borrower fails to respond to Lender 'Atha; 30 days after the date the nonce is given, Lender is authorized to collect and apply the proceeds, at its option. either to restoration or repay of the Property or to the sinus secured by this Steady Instrumerd. whether or not then due Unless Lender and Borrower otherwise agree m writing, any application ion of proceeds to principal shall not extend or postpone the due date of the mnhnthly payments referred to In paragraph 1 or change the amount of such payments 10. Borrower Not Rel eased; Forbearance By Leader Not a Waiver. Extension of the time for payment or modtficaton of amortization of the suns secured by this Sccunty Instrument grated by Lender to sty successor m interest of Borrower shall not operate to release the liability of the ongmal Borrower or Borrowers successors to interest Lender shall not be required to commence proceedings agantnst any successor in Interest or refuse to antatd tale for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any deiiwnd made by the anginal Borrower or Borrowers successors m interest My forbearance by Lender in exercising any right or remedy shall not bee waiver of a prelude the exercise of any right or remedy 11. Successors and Assigns Bound; lout and Several Isabtitty; Callipers The covenants and agreements of this Security Instrument shall bind and benefit the successors and mops of Lender and Borrower. subject to the Frontons of paragraph 16 Borrower's covauntr and agreements shall be joint arid several Any Borrower who ontngns this Security lnshwnatt but does not execute the Note (a) Is co -signing due Security Immanent only to mortgage, grant and convey that Borrower's interest m the Propaty wider the tends of due Security Instrument, (b) am not personally obligated to pay the sums secured by due Security Instrument, and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terns of this Security Instrument or the Note vnthout that Borrower's consent 12. Lean Charges. If the loan secured by this Security instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so dust the mtuest or other loan charges collected or to be collected m connection with the loan exceed the paraded Inns, then (a) any such loan charge dull be reduced by the amount necasmy to reduce the charge to the panntted boat, and (b) any sums already collected from Borrower which exceeded pernafed bouts will be refunded to Borrower Lender may choose to cake this refund by reducing the principal owed sunder the Note or by mutkmg a direct payment to Borrower if a refund reduces principal. the reduction will be treated as a partial prepayrrtau without any prepayment charge under the Note 13. Notices. Any notice to Borrower provided for In this Security Instrument shall be given by dehvatng it or by mailing it by first class mail unless applicable law requires use of another method The notice dull be directed to the Property Address or any other address Borrower designates by notice to Lauder Any nonce to Lander shall be given by first class eel to Linda's address stated hewn or any other address Lender designates by notice to Borrower Any nonce provided for m this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided m this paragraph CA 14. Governing Law'. Sevenbdttty. This Security Instrument shall be governed by federal law and the law of due jurisdiction in which the Property is located hi the event that any provision or clause of this Security Iastnnnrust or the a " Note conflicts with applicable law, such conflict shall not affect other prolusions of sus Security Instrument or the Note o which can be given effect without the conflicting provision TO this end the provisions altos Security Instrument and the • Note are declared to be severable hr 13. Bonowa's Copy. Borrower shall be given one conformed copy of the Note and of this Se unty Inetnmhatt 16 Transfer at the Property or a Beneficial lateral an Borrower. If all or any part oldie Prapaty any interest • m it is sold or transferred (or if a beneficial interest m Borrower is sold or transferred and Borrower is not a naturist person) ✓ without Linda's poor wnttcn consent, Lender tray, at its °phut, require immediate payment in full of all sums sewed by this Security lastranant However, this option shall not be exercised by Lender if exercise is prohibited by foderat law as of the date of this Seewvty butrurnau If Lender exercises th option, Lender shall give Borrower nonce of acceleration The notice shall provide a period c of not less than 30 days from the data the notice is delivered or mailed within which Borrower Mint pay all sums secured by this Security Instrument if Borrower hits to pay these scans prior to the expiration of this period, Leader may invoke any remedies pamatted by this Security Instrument without further nonce or demand on Borrower 17. Borrower', Right to Reinstate. if Borrower meets certain condrpons, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of (a) 5 days (or inch other period as applicable law may specify for reinstatement) before sale of the Property purulent to any power of sale contained in this Security Inststunent, or (b) entry of a judgement a nforxmg this Security Instru tie nt Those conditions are that Borrower (a) pays Lender all sumo which then would be due under this Security Instrument and the Note as if no acceleration had occurred, (b) cures any default of any other covenants or agreements, (c) pays all expenses incurred m enforcing this Security Instrument, mctudmg, but not hunted to, reasonable attorneys' fees, and (d) takes ant action as Lender may reasonably require to assure that the lien of this Security instrument, Lenders rights m the Property and Borrower's obligation to pay the sums secured by thus Security Instrument shall continue unchanged Upon reinstatement by Borrower, this Security Immanent and the obtiptons sec redheeby shall remain tally effective as if no axderanol%had occurred However, this right to reinstate shall not apply in the case of acceleration under paragraph 16 18. Sal. of Note; Clangs of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower A sale may result in a change in the entity (known as the "Loan Servicer") that collects monthly payments due under the Note and this Security Instrument There also may be one or more changes of the Loan Saner unrelated to a talc of the Note If there is a change of the Loan Serncer, Borrower will be given written notice of the change in accordance with paragraph 13 above slid spillable law The notice w►B state the name and address of the new Loan Sinner and the address to which payments should be made The nonce will also contain any other mfonnation required by applicable law • 19. Hazardous Substances Borrower shall not cause or pcmnt the presence, use, d sposa], storage, or release of any Hazardous Substances on or in the Property Borrower shall not do, nor allow anyone-else t do, anything affecting the Property that is m violation of any Environmental Law The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential urea and to maintenance of the Property Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party Involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remed►ation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Envronmanul Law As used in this paragraph 19, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances gasoline, kerosene, other flarnmabk or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive natenals As used in this paragraph 19, "Environmental Law' means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection OTBS093A WA (12/00) (Pig i0(4pWa) NON - UNIFORM COVENANTS Banower and Lender fhrther covauat end agree as follows 20. Acceleration; Remedies. Leader shall give notice to Borrower prior to aaderatIon following Borrower's breach of any covenant or agreement in this Security Instrument (but not poor to aecderaloa seder paragraph 16 ' Men applicable law provides otherwise). The antics shall specify: (a) the dehnh; (b) the action required to are the default; (e) a date, not less than 30 days from the date the notice Is given to Borrower, by which the default must be eared; and (d) that failure to ears the default on or before the date speeded In the notice may ninth in acceleration of the sums secured by this Security Instrument and sale of the Property at public auction at a data not less than 120 days in the future. The utter shall farther inform Borrower of the right to remstate after accelerat on, the right to bring a court action to assert the nor tepee of a default or any other defense of Borrower to acalerahon and sale, and any other mutters required to be included in the notice by applicable law. If the default le not aired on or before the date specified in the notice, Leader at its option may require Immediate payment In fail of an sums secured by this Security Ins rament wlthset farther dammed and may mole the power of sale and any other remedies permitted by applicable 4w. Lender shall be entitled to collect all warts Incurred en In pursaieg the remedies provided In this paragraph 20, Indadtng, but lot Wolfed to, reasonable attorneyl' fees e— and costs snide evidence. If Lender invokes the power of sale, Lender shah give written notice to Trustee of the occurrence of an event of • default and of Leader's dection to cause the Property to be sold. Trustee and Lender shaft take such action represg c notice *fade and shall give suck notices to Borrower mid to other persons as applicable law may requires After the fr. tine required by applicable law and after publication of the notice of sale, Trashy without demand at Borrower, alias sell the Property at pubic auction to the highest bidder at the time and place and ands the terms desigantd la N the notice of sale m one or more parcels and to any order Trustee determine e Trustee may postpone ado of the Property the of ale. Lender or may purchase the Property at ayade announcement at the time and place dud m Trustee shun deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or implied. The recitals in tbe Tnutees deed dual be prima fade evidence of the truth ef the N statements made Mersa. Trustee shalt apply the proceeds of tie sale In the following a to all espouses of the sale, including, bat not limited to, reasonable Trustee's and attorneys' fans: (b) t. Idi sums seared by this Security Instrument; and (e) any exam to die person or peens legally entitled to it orb the clerk of the a nperlar court of the county In which the sale took place. IL Raconvpanee. Upm payment of all sums sensed by this Security fo:trument, Lender shag request lliustee to reconvey the Property aid shall mrrendx this Security Instrument and any other documents evidencing debt seared by this Security Instrument to Trustee Trustee shall recency the property without warranty to the person or pas= legally =tided to rt Such person or persons dull pay any recordation cow and, as permitted by law, drill pay lender a reconvert= fee 22. Substitute Trustee. k accordance with applicable law, Louder may from we so tine appoint a macaw trustee to any Trustee appointed hereunder who has ceased to as Without conveyance of tie Property, the successor trustee shall succeed to all the tide, power end dunes oonfared upon Trustee herein and by applicable few 23. Use of Property. The Property is not used prmetpally for agncultaal or faun ptrposee BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained rn this Security Instrument and in aryndcr(a) emoted byBotrower and recorded with it STATE OF WASHINGTON WiTNE. S sY2iniitid o allus rem the day and in des cern Ny A1 {l�.iV My Coun1rigiiBlin WW1 $4449 Date 091A WA(l2/ O REQUEST FOR , : • PATRICIA CARUfif_RS Owner of Collateral (other than Borrower) Owner of Collateral (other than Barrowr) STATE OF WASHINGTON, County as On this it day of Zt`eah •1Tpl ( before me the underngne&a Notary Pubbc m and for to State of Washington, duly commissioned and sworn, personally appeared t.+t I PA CANCORIS ink f ;tr(. o wne r s tome lawn to be the mdhvdual(s described m and who executed the foregoing wtument, and acknowledged tome that signed see/ R In t,� am. free aid voluntary act and deed, for the trots and purposes theism mermonec r c m and for the State of Washington rending at Ave To Truster The undersigned is the holder of the Agreement secured by this Deed of 'Dust Said Agreement, together with aA other indebtedness secured by the Deed of Trust, have been paid in full You are hereby directed to caned said Agrantue and the Deed of Trust, which are delivered hereby, and to reconvey, without warranty, all the ester now held by you under this Deed of Trust to the person or persons legally entitled thereto OAF 4ot4 )