HomeMy WebLinkAbout1992 - Deed of Trust - Ellefson LaVonne - 92031221969203122196
DEED OF TRUST
s Grantor, lavonne ellefson
4617 south 144th street
chicago title insurance
THIS DEED OF TRUST Is made
BETWEEN AS 1IER SEPARATE ESTATE
whose address Is
and
as Trustee,
whose address 'OW1)4
and KEY BANK OF PUGET SOUND a Washington Corporation, as Beneficiary, whose address is
3474:•
Grantor hereby Irrevocably grants. bargains. sells and conveys to Trustee in trust. with power of sale, the following
described properly in K 1 tar; County, Washington:
LOT 2, BLOCK 4, ADAMS HOME TRACTS, ACCORDING TO THE PLAT THEREOF.
RECORDED IN VOLUME 11 OF PLATS, PAGE(S) 31, IN KING COUNTY. WASH-
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TOGETHER with all the tenements. hereditaments and appurtenances. now or hereafter thereunto belonging or in
anywise appertaining. and the rents, issues and profits thereof and all fixtures and property that may be now
located upon saki real property or may hereafter be installed M or attached to or used In or adapted for use In the
operation of the property and improvements, Including, but without being limited to. all trees, shrubs, rockeries,
retaining walls, walks, driveways, buildings. structures, and all elevators and elevator machinery, wall beds, and
other beds affixed to or used in connection with the building, shades. screens. boilers, water heaters, fumaces, oil
tamers, stokers, thermostats, controls and ventilating, plumbing. lighting, heating, cooking. cooling. watering,
irrigating and refrigerating equipment and appliances now or hereafter installed or placed In, located upon or used
in connection with said premises by the Grantor or any successor to Grantor's interest In said premises, and
including party walls, waters and water rights and easements, it any, on any side of said premises, and the
agreements and rights of the Grantor In respect of such party walls, easements, rights and agreements, all of which
shall be deemed a part of the real estate, whether affixed or annexed or not, shall for the purposes of this Deed of
Trust be deemed conclusively to be real estate and conveyed hereby. Grantor agrees to execute and deliver, from
time to time, such further instruments as may be requested by Beneficiary to confirm the lien of this Deed of Trust on
any property.
THIS GEED IS FOR THE PURPOSE OF SECURING PERFORMANCE of each agreement of Grantor contained
herein and payment of the sum of • • "i , •� t_'t_ t r.1 ' . ... i,
DOLLARS IS .: • : • ) with Interest thereon according to the terms of the promissory Note of even data
herewith, pey+rble to Beneficiary or order and made by Grantor, all renewals, refinancings, modifications or
extensions t1,.reof and also such further sums as may be advanced or loaned by Beneficiary to Grantor, or any of
their successors or assigns, together with interest thereon at such rate as shall be agreed upon and all other
indebtedness and obligations of Grantor to Beneficiary presently existing or hereafter ari sing, directly or Indirectly.
and interest thereon.
.WO/ ..b •Y /V1 H.,,,.,•p,C
The Grantor covenants as follows.
1 That the above described mortgaged properly is not used prtnctpalty for . •gncutturel a farming purposes
2. That each Grantor has good right, power and authority to convey and encumber the same and well forever
warrant and defend the lien and priority of this Deed of Trust against the lawful claims of all persons; that each
Grantor will pay all sums secured hereby when for any cause the same shall become due; that Grantor will not suffer
or permit the above described property to be maintained or used in violation of any laws, municipal ordinances or
regulations; that the above described property will not become subiect to any lien or encumbrance which threatens
the validity or priority of this instrument, thut during the continuance of this Deed of Trust Grantor will neither cause
nor suffer waste of any pan of the above described property.
3. That Grantor will keep the ie..provements upon such property constantly insured for the benefit of the
Beneficiary against fire and all other hazards and risks, including war risks, required by Beneficiary in such manner
and amounts and in such companies and under policies in lam approved by Beneficiary and cause all policies and
renewals thereof, together with receipts showing payment of tha premium therefor, to be deposited with the
Beneficiary at least thirty (30) days prior to the expiration of any existing insurance; that Grantor will pay all
premiums upon any life insurance policy which may be held by the Beneficiary as additional security for the debt
herein referred to. All policies for such insurance shall be carried in companies approved by Beneficiary, shall be
subject to the approval 01 Beneficiary as to amount, content and forms of policies and expiration dates (provided
that any policies approved in writing by Prior Mortgagee shall also be deemed approved by Beneficiary) shall
contain a Non - Contributory Standard Mortgagee Clause and the Lender's Loss Payable Endorsement, or their
LI equivalents, in favor of Prior Mortgagee and Beneficiary, and shall provide that the proceeds thereof shall be
tQ payable to Prior Mortgagee and Beneficiary. Grantor hereby assigns to Beneficiary (subject to the rights of Prior
▪ Mortgagee) all insurance proceeds which it may be entitled to receive and such proceeds shall be delivered to and
• held by Beneficiary to be applied, at the sole discretion and option of Beneficiary, (i) to the reduction of the unpaid
• principal 01 the indebtedness secured by this Deed of Trust or (ii) to the restoration of the Premises or any portion of
rl the Premises that has been damaged or destroyed to the same condition, character and value as nearly as may be
Cy, to that as existed prior to such damage or destruction.
0 4, That Grantor will pay all taxes, liens and assessments now or hereafter Ievled upon or charged by any
govemmentat body against the above described propertyor on account thereof and against this instrument and the
Cr) debt hereby secured and the interest thereon and exhibit to the Beneficiary official receipts showing payment
thereof ten (10) days before the delinquency of such taxes, liens and assessments; Beneficiary shall be the sole
judge of the legality and validity of any tax, lien or charge and official receipts therefor shall be conclusive evidence
of the payment, amount and validity thereof unless Grantor in good faith is diligently contesting the same and shall
indemnify the Beneficiary thereof to its satisfaction.
5. That there exists Prior Mortgage(s) or Deed(s) of Trust on the Premises described as follows:
Grantor covenants and warrants to Beneficiary that it will timely perform or cause to be performed all of the
obligations of Grantor under the Prior Note and the Prior Mortgage and agrees that defautt thereunder may, at the
option of Beneficiary herein, be treated as defautt hereunder. Grantor covenants and warrants to Beneficiary that it
will riot execute any amendment to the Prior Mortgage changing the rate of interest thereunder, or changen5 a
term Of payment terms thereof, or incur any additional indebtedness secured by the Prior Mortgage, without the
prig written consent of Beneficiary herein, which consent may be withheld in Beneficiary's sole discretion, Of
execute any other amendment of the Prior Mortgage without the Beneficiary's prior written consent (which, as to
such other amendments, will not be unreasonably withheld). Beneficiary reserves the right to perform any of the
obligations of Grantor under the Prior Mortgage, Of to pay any sums required to be paid by the Grantor by the terms
of the Prior Note Of the Prior Mortgage, and Grantor agrees that no such performance or payment by Beneficiary
shall be o,' meJ a waiver by Beneficiary of its right to treat the failure of Grantor to perform such obligations or make
such payments as a default hereunder.
In the event that Beneficiary so elects to make any payment and /or perform any act upon which Grantor has
defaulted, then at the option of the Beneficiary all monies so paid and all costs and expenses incurred thereby,
including reasonable attorneys' lees, may be added to the debt which is secured by this Deed of Trust and bear
interest at the default rate specified in the Note, or all monies so paid and ail costs and expenses incurred thereby,
including all reasonable attorneys' fees, may be dectared immediately due and payable and such sums shall bear
interest at the detautt rate specified in the Note until paid. and Grantor's failure to reimburse Beneficiary upon
demand therefor shall constitute a further event of default under this Deed of Trust. Beneficiary does not assume
any of the obligations of Grantor under the Prior Note and Prior Mortgage.
Grantor wet promptly notify Beneficiary in writing of any default by Grantor in the performance or observance of any
of the terms, covenants or conditions on the part of the Grantor to be performed under the Prior Note or the Prior
Mortgage
Grantor will (a) promptly notify Beneficiary in writing of the receipt by Grantor of any notice (other than notices
customarily sent on a regular periodic basis) from the mortgagee under the Prior Mortgage and of any notice noting
or claiming any default by Grantor in the performance or observance of any of the terms, covenants or conditions on
the part of the Grantor to be performed or observed under the Prior Note or the Prior Mortgage. and (b) promptly
cause a copy of each such notice received by Grantor from the mortgagee under the Prior Mortgage to be delivered
to Beneficiary
Grantor will, within ten (10) days after written demand from Beneficiary• use its best efforts to obtain from the
Mortgagee of the Prior Mortgage and deliver to the Beneficiary a certificate stating that such Prior Mortgage is in full
force and effect, is unmodified, that no notice of default thereunder has been served on the Grantor thereunder and
stating whether or not there are any defaults thereunder, and specifying the nature of such defaults, if any.
Grantor will furnish to Beneficiary upon demand, proof of payment of all items which are required to be paid by the
Grantor pursuant to the Prior Note and the Prior Mortgage and proof of payment of which is required to be given to
the Mortgagee under the Prior Mortgage.
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6. Upon request of Beneficiary, Grantor shall pay to Beneficiary at the time of and In add. of do the . ulsr
installments of principal and interest payable under the terms o1 said note a o rata
insurance premiums estimated by the Beneficiary next to come due so that thirty (30) days before Mn• delinquency
thereof Beneficiary will have on hand an amount sufficient to pay the next maturing taxes and insurance premiums.
The amount of the additional payment lobe made on account of taxes, assessments and insurance premiums shall
be adjusted annually or more frequently as Beneficiary deems necessary and any deficit shall be immediately paid
by Grantor upon request and any surplus shall be credited on the indebtedness. Subsequent payments on account
of taxes, assessments and insurance premiums shall be made in accordance with the next estimate by the
Beneficiary of annual requirements. r .onies paid to Beneficiary on account of taxes, assessments or insurance
pre hums shall not bear interest and. in the event of default of the Grantor. Beneficiary a1 its option may apply any
monies in this account to any part of the debt secured hereby.
7. In any suit to foreclose this Deed of Trust or in any nonjudiciel foreclosure pursuant to RCW Chapter 61.24, or
in any suit or proceeding in which the Beneficiary is obliged to defend or protect the lien hereof. or in which
Beneficiary is a party and the above described real property or any part thereof is the suct matter thereot,
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including suits to quiet title or for condemnation or partition o1 the whole or pert of said property. or any interest
therein, Grantor agrees to pay Beneliciary all costs and a reasonable attorney's lee, including all such costs and
reasOnableatloinujsk, osincurredinanyappealta• bnlharalromtoanyappellatecoin „andturh ag:o to pay
such reasonable costs of searching records and abstracting the same as may necessarily be incurred in
foreclosing this instrument or defending the same. or participating in any suit or proceeding above referred to,
which sum shall be secured hereby and included in any decree of foreclosure. In the absence of any such suit or
proceeding and in case of default, Grantor agrees to pay such necessary expenses. including reasonable
attorneys fees, incurred by Beneficiary in making collection of delinquent payments or curing any other default
Acceleration of maturity once claimed hereunder by Beneficiary may, at the Beneficiary's option. be set aside.
8. Upon the occurrence of an event of default hereunder, all sums secured hereby shall immediately become
due and payable at the option of the Beneficiary. No waiver by Beneficiary of any default on the pad of Grantor shall
be construed as a waiver of any subsequent default hereunder. In event of such default 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. (RCW Chapter 61.24 as existing now. or hereafter amended). 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 attorneys lee: (2) to the obligation secured by this
Deed of Trust (3) the surplus. it any, shall be distributed to the persons entitled thereto. 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 his execution of this Oeed 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 prima facie evidence of such
compliance and conclusive evidence thereof in favor d bona fide purchasers and encumbrances for value. The
power of sale conferred by the Deed of Trust and by the Deed d Trust Act of the State of Washington is not an
exclusive remedy and when not exercised. Beneficiary may foreclose this Deed of Trust as a mortgage. In the event
of the death, incapacity or disability or resignation of Trustee. Beneficiary may 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 trustee 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 Oeed 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.
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9._ In the event of the passage after the date of this Deed of Trust of any Federal. State or local law. deducting
from the value of real property tor the purpose of taxation any lien thereon, or changing in any way the laws now in
force for the taxabon of mortgages, deeds of trust, or debts secured thereby. for Federal, State or focal purposes, or
the manner of the collection of any such taxes so as to affect the interest of Beneficiary, then and in such event,
Grantor shall bear and pay the full amount of such ta:.es, provided that it for any reason payment by Grantor of any
such new or additional taxes would be unlawful or if the payment thereof would constitute usury or render the loan
or indebtedness secured hereby wholly or partially usurious under any of the terms or provisions of the Note, or the
within Deed of Trust. or otherwise. Beneficiary may. at its option, without demand or notice. declare the whole sum
secured by this Deed of Trust with interest thereon to be immediately due and payable. or Beneficiary may, r r•;
option. pay that amount or portion of such taxes as renders the loan or indebtedness secured hereby untawful or
usurious. in which event Grantor shall concurrently therewith pay the remaining lawful and nonusurious portion or
balance of said taxes.
10 This Deed of Trust applies to. inures to the benefit of. and is binding not only on the parties hereto. but on their
Heirs, devisee.. legatees, administrators, executors successors and assigns. All obligations of Grantor hereunder
are joint , s :-venal. The term "Beneficiary” shall mean the holder and owner. including pledgees. of the note
secured hereby. whether or not named as Beneficiary herein. Without effecting the liability of any other person for
the payment of any obligation herein mentioned (including Grantor should he convey said real property) and
without affecting the lien hereof upon any property not released, Beneficiary may. without notice. release any
person so liable. extend the maturity or modify the terms of any such obligation. or grant other indulgences, release
or reconvey or cause to be released or reconveyed at any time all or any part of the realty described herein, take or
release any other security or make compositions or other arrangments with debtors. Beneficiary may also accept
additional security either concurrently herewith or thereafter. and sell same or otherwise realize thereon. either
before. concurrently with, or after sale hereunder. This Deed of Trust shall be so construed that wherever
applicable. the use of the singular number shall include the plural number. the use of the plural number shall include
the singular number. the use of any gender shall be applicable to all genders and shall likewise be so Construed as
applicable to and including a corporation. The word "Note" shall include all notes evidencing the indebtedness
secured hereby. 11 any of the provisions hereof shall be determined to contravene or be invalid under the laws of the
State of Washington. such contravention or invalidity shall not invalidate any other provisions of this agreement. but
it shall be construed as if not containing the particular provision or provisions held to be invalid. and all rights and
obligations of the parties shall be construed and enforced accordingly. No waiver by Beneficiary of any default on
the pan of Grantor shall be construed as a waiver of any subsequent default hereunder. Any notices to be given to
Grantor by Beneficiary hereunder shall be sultictent it marled postage prepaid, to the above described address o1
the Grantor, or to such other address as Grantor has requested in writing to the Beneficiary, that such notices be
sent Any lime period provided in the giving of any notice hereunder shall commence upon the date such notice is
nepos fed in the marl
tt is further agreed between the parties as follows
T hat if Grantor defaults in any of the covenants or agreements contained herein, or in said Note. then the Beneficiary
may perform the same. and all uxpendifures made by the Beneficiary in s0 doing shall oraw interest al the rate set
forth rn the Note secured hereby and shall be repayable by the Grantor to the Benlrciary on demand, and together
++nth interest and costs accruing thereon, shall be secured by this instrument if the Benelrciary herein makes
pay ment on the prior lien(s) pursuant to this covenant this Beneficiary may at his option be subrogaled to Inc rights
of the poor Mortgages) f0 the extent of payments s0 made. and the subrogation rights so acquired by the Beneliciary
herein shall be fully recognized and not contested by the Grantor herein. or at lie opl.on OI the Beneficiary the
payments so made may be tacked to the balance due under the Note for which this rnstrurnerrt is security
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In the event of a salo or transfer, in any manner of the above described prem,.es a any past thereof without
Beneuciary's prior ,wrdten consent the balance of unpaid principal with accrued Interest and alt other
indebtedness hereby secured. shall, al the 13enefrctary's election. become immediately due without further notice.
All covenants hereof shall run with the land and shall not be extinguished by any foreclosure. Upon payment of the
debt in full and complete performance hereof by Grantor. Beneficiary shall execute and deliver to Grantor or the
payer a proper satisfaction of this instrument for recording at the latter's expense.
It is understood and agreed that tirr is of the essence as to all covenants and agreements contained in this
instrument.
An event of delault on the pan of Grantor within the meaning of this instrument shall be deemed to exist in the event
of any default in the payment of interest or any installment of principal or it there be any breach in the performance or
observance of the Grantor's covenants hereunder or it any court of competent Jurisdiction renders a decision that
this instrument is not a lien of the priority set out in this instrument upon the whole of the mortgaged property or 11
Grantor shall assign the rents or any pan of the rents 01 the mortgaged property without the prior written consent of
Beneficiary or it there be an actual or threatened demolition or removal of any building erected or to be erected
upon said premises or any waste of the mortgaged property or in the event ol any default on any Prior Mortgage(s)
or Deed(s) of Trust t1 an event of delault shall exist as herein defined. 11 shall be optional with the Beneficiary to
accelerate the maturity of said Note and to declare the entire mortgage indebtedness immediately due and payable
without notice and to foreclose this instrument and without waiving any other remedy or right. Any installment of
principal or interest not paid when due shall bear interest atthe highest ram allowed by law from date of delault until
paid.
Witness the hand(s) and seal(s) of the Grantor(s) on the day an year first above written.
11eJ /J .4 -d�' �• (Seal)
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(Seal)
(Seal)
(Seal)
STATE OF WASIiI TON
COUNTY OF Isli.
On this day personalty appeared before me C26-1672Af `1
to me �lqyn to be the individual(s) described in and ex ed the within foregoing instrument
and acknowledged that signed the same as free and
voluntary act aild deed, for the uses and purposes therein mentioned.
GIVEN • my rand and(tf al seat t ' /! day of � - /91 % /�
4 \�5��r // My Commission Expires �! ��7�
bfiafn tale of Washington
• riVatid4 ore -_ "����•7rr<L/
• • :gt:c •
STATE OF W S1*1NGTON
COI>iNT %� .
On Ufif day c' 19
troiore me. the und.rsgned,Notary Public in and for the State of Washington. d
appeared
missioned and sworn, personally
to me known to be the _➢rent and
the foregoing instrument. and acknow
for the uses and puuposes the
said instrument and th
ed the said instrument to be the tree and voluntary
mentioned, and on oath stated that
seat affixed is the corporate seal of said corporation.
Witness my hand and official seal hereto affixed the day and year first above written.
Notary Public in and lot the Stale ol Washington
residing at
and
Secretary respectively, of
the corporation that executed
act and deed of said corporation.
is authorized to execute the
My Commission Expires
REQUEST FOR FULL RECONVEYANCE
Go 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. Saud Note. together with all other indebtedness secured 1y said Deed of Trust has been Tully 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 evidences 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 _.._ -•, 19 _�-
mad tycouuveyance 10
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