HomeMy WebLinkAbout2002 - Deed of Trust - Chin Gilbert / China Passage Restaurant - 20021031003186AFTER RECORDING MAIL TO:
Name
Larry C. Leonardson
Address PO Box 804
20021031003186
MOB 001 of OF
10/33/2002 Zz 00
KING COUNTY: ugti
City /State Bothell WA 98041 -0804
Deed of Trust (Third)
(For Use in the State of Washington Only)
THIS DEED OF TRUST, made this day of
2002 ,BETWEEN GILBERT W. CHIN
, GRANTOR,
whoseaddressis c/o China Passage Restaurant,
22003 - 66th Ave W, Mountlake Terrace, WA 98043,
and FIRST AMERICAN TITLE INSURANCE COMPANY, a Cavfomia corporation as TRUSTEE, whose address
is 4th and Blanchard, Seattle WA 98121
.fit .Y1.,,.
FirstAmerican Title
Insurance Company
(this space for title company use only)
mid LYLE KUSSMAN
BENEFTCIARY,whoseaddressis PO Box 1705. Bothell WA 93041
WITNESSETH Grantor hereby bargains, sells and conveys to Trustee in Trust,
with power of sale, the following described real property in Ki nq County, Washington
(Parcel 3)
See Exhibit A Attached Hereto
* and including the reasonable
value of all professional services
provided by Beneficiary and for
the benefit of said real estate
from and after the date of this
Deed of Trust, to and for the
benefit of the Grantor.
Assessor's Property Tax Parcel/Account Number(s) 812520 0280 OQ
which real property is not used principally for agncultural or fanning 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
Thirty -eight thousand five .hundred and no /100 ' Dollars($ 38,500.00 )
with inter roc tht of a promissory note of even date herewith, payable to Beneficiary or order, and made
by Granto sand al rro ew1s, n�od:flcations and extensions thereof, and also such further sums as may be advanced or loaned by
Beneficiary to Gra if ra r Y Wf t I d su cessortpri ssigns, together with interest thereon at such rate as shall be agreed upon
LPE -22 (11/96)
page 1 of 2
..._..._...
To protect the security of this Deed of Trust, Grantor covenants and agrees
1 To keep the property rn 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 properly, 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 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 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 msurance policy may be applied upon any indebtedness hereby secured in such order as the Beneficiary shall determine
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 an force shall pass to the purchaser at the foreclosure sale
4 To defend any 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, including cost of title search and attorney's fees to a reasonable amount, to any such action or proceeding, and in any sun
brought by Beneficiary to foreclose this Deed of Trust
5 To pay all costs, tees 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 attomey'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
heremabove 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 accepung payment of any sum secured hereby after its due date, Beneficiary does not waive its nght 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 pan of the property covered by this Deed of Trust to the person enutled thereto, on wntten request of
the Grantor and the Beneficiary, or upon sausfaction 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 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 the sale, including a reasonable Trustee's fee and attomey's fee, (2) to the obligation secured by this Deed of Trust, (3) the surplus, if any,
shall be dutnbuted 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
t^r's which Grantor had or had the power to convey at the tune 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 puma facie evidence of such compliance and conclusive evidence thereof rn favor of bona fide 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 this Decd of Trust to be foreclosed as a mortgage
.- - 7 In the event of the death, incapacity, disability or resignauon of Trustee, Beneficiary may appoint m wnung 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
N vested with all powers of the ongmal 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
o the Trustee
CV
8 This Deed of Trust ap es to, inures to the benefit of, and is binding not only on the parties hereto, but on their heirs, devisees, legatees,
administrators, executo and assigns The term Beneficiary shall mean the holder and owner of the note secured hereby, whether or not
named as Beneficia erem
Gg..B . CHIN
REQUEST FOR FULL RECONVEYANCE
Do not record To be used only when note has been paid
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 other indebtedness secured by said Deed of Trust, has been fully paid 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
evidence 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
Do not lose or destroy this Deed er ustORTHENOTEwhichttsecures Both must be delivered to the rrusteeformnrelattonbefore
reoora>eyance lull be mode.
LPB -22 (11/96) page 2 of 2
Z
Q •
=Z
W
6
lY
00
to
W=
J 1.
N LL
W o.
I d.
W
2
Z
Z0
11.1 ui-
0 co,
0-
.O H'
WW
LL ~.
O
w.
H 0
Z
STATE OF WASHINGTON, , ACKNOWLEDGMENT - Individual
j ss
County of
King
g
On this day personally appeared before me
GILBERT W. CHIN
to be the individual(s) described in and who executed the within and foregoing instrument, and acknowledged that
signed the same as h 1 S free and voluntary act and deed, for the uses and purposes therein mentioned
GIVEN under my hand and official seal this 30th day of October 2002
to me known
he
- ti 14OP,I °s' A
H . %. • 'S'4/- ='
i
I aty ubltc in and foi the State of Washington
testd:ng at Lynnwood
My appointment expires 7 -29 -03
STATE OF WASHINGTON,
County of
On this day of before me, the undersigned, a Notary Puhlit. in and for the State of
Washington, duly commissioned and sworn, personally appeared
and to me known to be the
President and Secretary, respecuvely, of
the corporation that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary
act and deed of said corporation for the uses and put poses therein mentioned, and on oath stated that
authorized to execute the said monument and that the seal affixed (if any) is the corporate seal of said corporation
ss
ACKNOWLEDGMENT - Corporate
Witness my hand and official seal hereto affixed the day and year first above wntten
Nomt y Public in and fat the State of Washington,
. residing at
My appointment expires
Thvt jurat is page of and is attached to dated
Z
•
Z
00
CO
W2
J H
! ul0.
g-
u_
a
1W
ZF
Z O0.
.0
Cl
W W.
1• U
LL H:
Z'
LLI
• (1)
0.
Z
Parcel 3:
Common Address
Legal Description
Exx1BIT A
16804 - 53i° Ave S, Tukwila, WA 98188
Tract 28, Sunrise View , according to the unrecorded plat thereof,
EXCEPT that portion thereof conveyed to the State of Washington for Primary
State Highway No 1, in King County, Washington
Parcel Nos 812520 0280 00
EXHIBIT A to Deed of Trust No 1
c \rcif -4342 exadotl •