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Home My WebLink About1998 - Deed of Trust - Schneider & Schneider / Westcor Financial - 98050511999805051199 After recording return to: Wntcor Financial, Inc. wec. 3180 Crow Canyon Place 0216 San Ramon, CA 94583 Filed for record at the request of Wash ton Title Comp any • R206381— , DEED OF TRUST + (for use in the State of Washington only) THIS DEED OF TRUST, made this 30th April, 1998 between SCHNEIDER & SCHNEIDER, L.L.C. A Washington Limited Liability Company. GRANTOR, whose address is 39176 Liberty Street, 1235, Fremont, CA 94638 WASHINGTON TITLE COMPANY, a Corporation, TRUSTEE, whose address is 16 S. Grady Way, Suite 120, Renton, WA 98055, and Westcor Financial, Inc., BENEFICIARY, whose address is 3180 Crow Canyon Place 1216, San Ramon, CA 94583 WITNESSETH: Grantor hereby bargains, sells end conveys to Trustee, with power of sale, the following described real property In King County, Washington: ABBREVIATED LEGAL: Ptn. Tract 1, Interurban Add, Vol 10/66 and Ptn NE 1/4, Sec. 23- 23N -4E. Complete Legal attached as Exhibit A. Tax Account No. 359700.0006-07 and 000320- 0009.04 which real property is not used principally for agricultural or fanning purposes, together with all tenements, hereditament', and appurtenances now or hereafter thereunto belonging or in any wise appertaining, end the rents, issues end profits thereof. This Deed is for the purpose of securing performance of each agreement of Grantor herein contained, end payment of the sum of ONE MIWON EIGHT HUNDRED TWENTY FiVE THOUSAND AND 00/100 Dollars ($1,825,000.00) with interest, in accordance with the tenna of a promissory note of even date herewith payable to Beneficiary or order, and made by Grantor, and all renewals, modifications end extensions thereof, and also such further sums as may be advanced or loaned by Beeneficiary 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, structure or improvement begin 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 effecting the property. 2. To pay before delinquent all lawful taxes and asseuments upon the property; to keep the property free and clear of all other charges, flans or encumbrances impairing the security of this Deed of Trust. 3. To keep all buitdinga now or hereafter erected on the property described Wain continuously insured against loss by fire or other hazard in an amount not leas than the total debt secured by this Deed of Trust. All policies shall be held by Beneficiary, and be in such companies u the Beneficiary may approve and have loss payable first to Beneficiary as his interest may appear and than to the Grantor. The amount collected under any insurance policy may be applied upon any indebtedness hereby secured in such order as the Beneficiary shaU determine. Such application by the Beneficiary shall not cause discontinuance of any proceedings to foredstse tfiis Deed of Trust. In the event of foreclosure, all rights of the Grantor In insurance policies then in f9rcj shall pass to the purchaser at the foreclosure sale. LP8-22 /1 - 8 R206381 4. To defend any action or proceeding purporting to affect the security hereof or the rights or powers of 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 fall 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 • art 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 any 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 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 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 percon entitled thereto. 4. Upon default by Grantor in the payment of any indebtedness secured hereby or in the performance of any agreement contained herein, ell sums secured hereby shall immediately become due and payable at the option of the Beneficiary. In such event and upon written request of the Beneficiary, Trustee or its authorized agent shall sell the trust property, in accordance with 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's sale. Trustee shall apply the proceeds of the sale as follows: (1) to the expense of sale, including a reasonable Trustee's fee and attorney's fee; (21 to the obligation C) secured by this Deed of Trutt; (31 the surplus, if any, shall be distributed to the persona entitled C) thereto. tN 6. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which shall convey 11) to the purchaser the interest in the property which Grantor had or had the power to convey at the tine of his execution of this Deed of Trust, and such as he may have acquired thereafter. Trustee's y, 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 MI compliance and conclusive evidence thereof in favor of bona fide purchasers end encumbrances for 0) value. 8. 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 this Deed of Trust to be foreclosed as a Mortgage. 7. In the event of death, incapacity or disability or resignation of Trustee, Beneficiary shall 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 Trusts* 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 the Grantor, Trustee or Beneficiary shall be a party unless such action or proceeding Is brought by the Trustee. 8. This Deed of Trust applies to inures to the benefit of, and is binding not only on the parties hereto, but on their heirs, devlsmes; legatees, administrators, 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. BENEFICIARY: APPROVED & ACCEPTED: West • Fine - -- nc. • • & , L.L.C. Pegs 2 of 3 GRANTOR: 1'faf /. J.i Y . � = : = i i L T _ . J X b V . t . . l . . . i v . • . • • 0 . ✓... - d•S•.]•..• • ... a: ' .- . • • • • Y!. to of ib(IAY tt`I1PS my of wrmyeb.p.% DAT lnaily appeared before me, 06 G n•.wvnrt( or mFRCn1:... laic 004 ROTARY PUSUC1 u\ e 10 DAN\ pi6-- MAf.Igt Of aO.pina onally known to me -OR -14 proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is /are subscribed to the within instrument and acknowledged to me that he /shehhey executed the same in his/her /their authorized capacity(ies), and that by his/her /their signature(s) on the instrument the persons) or the entity upon behalf of which the person(s) acted, executed the instrument. '•'1' C.E. CHAS NOT t 11113446 F06N.A • SAN FRANCISCO t. COUNTY ! Came fl�ru tkt l0, 7000 j ISEAu CERTIFICATE OE ATTACHED I DOCUMENT IMED AT NWT: ATTENTION NOTARY ah..0.r of P.w. at OsouN t 11y..4) Oar. Than N..W Ahem r•bae Witness my hand and official seal. ISIGNATV/tE of NotARY) nforrngtion requested below and in the column to the right is OPTIONAL rding of this document is not required by law and is also optional. aid, however, prevent fraudulent attachment of this certificate to any rthorized document. Taft aT .?g*Mua -= 1wY- •,1 • Ate% a HIGHT mule teary corer ACtTY CLAMED IT altmE ALISI OCORI'011ATE mnts OPAHTNERl$I DLNITED OOENEAAL OATTOPNEY at FACT OTM)STEE OOUMOIANCONlf11VATO OOTHEA: NOrLA N If?RIUEKTMW: Km. of P...«Ns) or Entity, NOW THUNIPPINT 101c CAPACITY CLAMPED BY NE, Oaa7NDUALISI OFFICENN MIUN OPAITmFA$i Oi.amlto OOENETIAL lA _ - °One: t arOgOl la IILTRfLAIa+O 6...l. N Mrlq es 1st , j 42: M1 r.. ..1 1t - • • • PARCEL A: PARCEL B: _ • ii�u3,.''. LMT :t'uv� "a91� + - •.• ... • ;,wa /a •. s •. a:w...4..K W. . . 1 . /....ii' ZSh 4fl.WS Mre t., l]ti:: * - - .Y. :.•