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Home My WebLink About2001 - Deed of Trust - Okoye Sunny - 2001012900074120010129000741 3365900136 WHEM RECORDED HAIL TO: MSN SV -79 / DOCUMENT CONTROL DEPT P O SOX 10266 VAN NUYS, CALIFORNIA 914140288 Prepared by: K. BRUNSON AMERICA'S WHOLESALE LENDER 600 108TH AVE NE SUITE 205 BELLEVUE, WA 98004. LOANS 9144705 EscRowlCLosING a OKOYE Abbreviated Legal Descnpoon LOT 8 OF CITY OF TUKWILLA SHORT PLAT NUMBER L2000- 013, REC# 20010129000741 [Include lot. block sod plat or section, township and ram' Full legal descnpuon located on page 1 t� 33G57o-' DEEd OF TRUST THIS DEED OF TRUST, dated January 23 , 2001 , u between cm SUNNY OKOYE, A SINGLE PERSON (Line of Credit Trust Deed) residaig at 142XX 55TH AVENUE SOUTH, TUKWILA, WA 98166 the person or persons si "Chaawr(ir below and hereinalter referred to as we or "us' and CHICAGO TITLE INSURANCE u ANCE COMPANY as trustee and hereinafter referred to ea the "Trustee,' with an address at 701 FIFTH AVENUE #1800, SEATTLE. WA. 98104 , for the benefit of AMERICA'S WHOLESALE LENDER with an address at 4500 PARK GRANADA. CALABASAS, CA 91302.1613 sod hereinafter referred to as 'you' or the "Beneficiary Zo paw, Hal KING %shw a 98166 (the "Premues') Coma ZI? and !tether described u LOT B OF CITY OF TUKWILA SHORT PLAT NUMBER 12000.013. RECORDED UNDER RECORDING NUMBER 20001122900001. BEING A PORTION OF THE SOUTH 93 FEET OF LOT 7. BLOCK 2, HILLMAN'S SEATTLE GARDEN TRACTS, ACCORDING TO THE PLAT THEREOF. RECORDED IN VOLUME 11 OF PLATS, PAGE(S) 24, IN KING COUNTY, WASHINGTON. 41r PREMISES In cooaderax0O of the loan hereinafter descried, we hereby mortgage, gram and convey to the Trustee the premises located at 142XX 55TH AVENUE SOUTH TUKWILA RECEIVED r;iT'/ OF' TLJKWUP ' Nt,i4' c',Ll I 'r{ DOI q-Ce0 LOAN #: 9144705 The Premises inchudes all buildings and other tmprovetnentt now or in the future on the Premises and all rtghts and interests which derive from our ownershtp, use or possesson of the Preauses and all appurtenances thereto The Prenuses are not used principally for agricultural or farnung purposes TERM The maximum term of the Note u 30 years. tnctudtng any renewals or extensions thereof LOAN The Deed of Trust will secure your loan m the principal amount of $ 24, 055.00 thereof as may be advanced and readvanced from time to time to SUNNY I OKOYE or so much the Borrowers) under the Home Equity Credit Line Agreement And Disclosure Statement (the 'Note') dated January 23, 2001 , plus interest and costs. late charges and all other charges related to the loan. all of wfuch sums are repayable according to the Note This Deed of Trust will also secure the performance of all of the promises and agreements made by us and each Borrower and Co- Signer in the Note, all of our promises and agreements in this Deed of Trutt, any extensions, renewals, amendments, supplements and other modifications of the Note, and any amounts advanced by you under the terms of the section of this Deed of Trust entitled 'Our Authonty To You ' Loans under the Note may be made. repaid and remade from time to time in accordance with the terms of the Note and subject to the Credit Limit set forth in the Note OWNERSHIP We are the sole owner(s) of the Premises We have the legal right to mortgage, grant and convey the Premises to the Trustee BORROWER'S IMPORTANT OBLIGATIONS (a) PAYMENT AND PERFORMANCE We will pay to you all amounts secured by this Deed of Trust as they become due, and shall strictly perforrn our obligators (b) TAXES We will pay all real estate taxes. assessments, water charges and sewer rents relating to the Premises when they become due We will not claim any ctedrt on, or nuke deduction from, the loan under the ▪ Note because we pay these taxes and charges We will provide you with proof of payment upon request t• o (c) MAINTENANCE We will mamlam the buildmg(s) on the Prenuses in good condittoo We will not c z, crake m./Kit :hinges in the battdmg(s) except for nornul repairs We will not tear down ary of the budding(%) c, on the Premises without first getting your consent We will not conduct or permit any nuisance or waste on or to Cv the Prenuses We will not use the Premises illegally If tots Deed of Trust is on a unit in a condonvruum or a planned unit development. we shall perform all of our obbpnom under the declaration or covenants creating or ° governing the condomummm or planned taut development, the by -lawn and regubtons of the condonunum or •— planned unit development and constituent docwzsenta ea N (d) INSURANCE We will keep the budding(%) on the Prenuses uasured at all tames agasmt loss by rue. flood and any other hazards you may specify We may choose the insurance company, but our choice is subject to your reasonable approval The pohcin must be for at least the amounts and the time periods that you speedy We soil deliver to you upon your request the policies or other proof of the insurance The policies Haut name you u "mortpgee' and "lou-payee" so that you will receive payment oo all insurance clamp, to the extent of your purest under dm Deed of Trust, before we do The Insurance policies must also provide that you be given not ku than 10 days prior wngea notice of any cancellation or reduction in coverage, for any reason Upon request. we shall deliver the policies, ceruficates or other evidence of assurance to you In the event of loss or damage to the Premises, we will msmtxhately notify you in wntuta and file a proof of toss with the insures You many file a proof of loss on our behalf If we fail or refuse to do so You may also sign our name to any check, draft or other order for the payment of insurance proceeds to the event of loss or damage to the Premises If you receive payment of a chain, you will have the nght to choose to use the money either to repair the Premises or to reduce the amount owing on the Note (e) CONDEMNATION We assign to you the proceeds of any award or claim for damages, direct or corssequeaual, m coanecuon with any condemnation or other taking of the Premises. or part thereof, or for coaveyance m lieu of condemnation. all of whsch shall be paid to you. subject to the terrni of any Pnor Deed of Trust (1) GOVERNMENTAL REQUIREMENTS We will comply with all laws, ordinances and regulations applicable to the use or occupancy of the Premises (g) SECURITY INTEREST We will join waft you in signing and filing documents and, at our expense, m doing whatever you behave is necessary to perfect and continue the perfection of your ben and security merest m the Premises • HE LOC • Deed of Trust 2C5192WA (03/99) Page 2 o14 mania RECEIVED CITY OF TUKtNILI 'ERivli • LOAN #: 9144705 (h) OUR AUTHORITY TO YOU If we fail to perform our obligations under this Deed of Trust, you may, if you choose, perform our obligations and pay such costs and expenses You will add the amounts you advance to the sums owing on the Note. on which you will charge interest at the interest rate set forth m the Note If. for example. we fad to honor our promises to maintain msurance m effect. or to pay filing fees. taxes or the cosu necessary to keep the Premises m good condttwn and repair or to perform any of our other agreements with you, you may. tf you choose. advance any sums to satisfy any of our agreements with you and charge us Interest on such advances at the interest rate set forth tn the Note Thu Decd of Trust secures all such advances Your payments on our behalf will not cure our fadure to perform our promises in this Deed of Trost Any replacement insurance that you obtain to cover Toss or damages to the Premtses may be limited to the amount owing on the Note phis the amount of any Prior Deeds of Trust (t) PRIOR DEED OF TRUST If the provsrons of thus paragraph are completed. this Deed of Trust is subject and subordinate to a pnor deed of mist dated January 23, 2001 and given by is for the benefit of as beneficiary, m the original amount of S (the 'Prior Deed of Trust') We shall not increase. amend or modify the Prior Deed of Trust without your prior wruten consent and shall upon receipt of any wnnen notice from the holder of the Pnor Deed of Trust promptly deliver a copy of such notice to you We shall pay and perform all of our obligations under the Prior Deed of Trust as and when required under the Prior Deed of Trust (l) HAZARDOUS SUBSTANCES We shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or tn the Prenuses We shall not do, nor allow anyone ebe to do, anythung affectuig the Premises that u in violation of any Environmental Law The precedmg two sentences shall not apply to the presence. use, or storage on the Premises of small quantities of Hazardous Substances that are generally recognized to be appropnate to normal residential uses and to maintenance of the Premises As used in this pangraph, "Ilazardaus Substances' are those substances defined as toxic or hazardous substances by Environmental Law and the following substances gasoline, kerosene, other flammable or toxic petroleum products. toxic pesticides and herbicides, volatile solvents, materials contauung asbestos or formaldehyde. and radioactive matenals As used in this paragraph. " Envinnmental Law' means federal laws and laws of the jurisdiction where the Prenuses are located that relate to health, safety or environmental protection •• (k) SALE OF PREMISES We will not sell, transfer ownership of, rnongage or otherwise dispose of out C=2 ° interest in m the Preues, m whole or tn part. or permit any other hen or claim against the Premises without your can pin. mitten consent cn c• (1) INSPECTION We will pernut you to uupect the Premues at any reasonable time ° NO LOSS OF RIGHTS The Note and this Deed of Trust may be negotiated or assigned by you without • — releasing us or the Premises You may add or release any person or property obligated under the Note and this Deed of Trust without losing your rights in the Premises cW DEFAULT Except as may be prohibited by applicable law, and subject to any advance notice and cure penod sf required by applicable law, if any event or corxhtwn descnbed in Paragraph 12 A of the Note occurs, the Trustee may foreclose upon Thu Deed of Trust by noose and sale or you may foreclose judactally, m either case in accordance with and to the extent provided by law You may bid at any public sale on aU or any poison of the property In addition. you or the Trustee tray, in accor with applicable law. (0 enter on and take posseunon of the Premises, (u) collect the rental paytnents, including overdue rental payments, dhrectly from tenants, (nu) mute the Premises, and (iv) sign. cancel and change leases We agree that the interest rate set forth in the Note will continue before and after a default, entry of a judgment and foreclosure or public sale In addition, you shall be entitled to collect all reasonable lees and costs actually incurred by you in proceedsrig to foreclouue or to public sale. mchidmg, but not (muted to, tnutee's fees. reasonable attorneys fees (whether or not there s a judical proceeding) and coats of documentary evidene, abstracts and ink reports ASSIGNMENT OF RENTS. APPOINTMENT OF RECEIVER As addslsonal secwuy, we ausgn to you the RCM of the Premises You or a receiver appointed by the courts shall be entitled to enter upon, take possession of and Damage the Premises and collect the rents of the Premises reludmg those past due WAIVERS To the extent permuted by applicable law, we waive and release any error or defects in proceedings to enforce this Deed of Trust and hereby waive the benefit of any present or future laws providing for stay of execution, extension of time, exempt= from attachment, levy and sale and homestead exemption BINDING EFFECT Each of us shall be fully responsible for all of the promises and agreements in this Deed of Trust Until the Note has been paid in full and you obligation to make further advances tinder the Note has been terminated, the provusons of this Deed of Trust will be binding on us. our legal representauves. our heirs and all futiue owners of the Premises Thu Deed of Trust u for your benefit and for the benefit of anyone to whom you may assign a Upon payment to hill of all amounts owing to you under the Note and this Deed of Trust, and provided any obligasoa to make further advances under the Note has terminated, this Deed of Trust and your nghts m the Prenuses shall end /�. n • HELOC • Deed of Trust heats ____ 2C5 t93WA (03199) Page 3 of 4 RECEIVED CITY OP TUKI IU 'C_f ? !bit r_tv • LOAN #: 9144705 NOTICE Except for any nonce required under applicable taw to be given m another manner. (a) any nonce to us provided for tn this Deed of Taut shall be given by delrvermg it or by mailing such nonce by regular first class mail addressed to us at the last address appearing tn your records or at such other address as we may designate by notice to you as provided herein, and (b) any nonce to you shall be given by certified nail. return receipt requested, to your address at AMERICA'S WHOLESALE LENDER 4500 PARK GRANADA CALABASAS. CA 91302 -1613 or to such other address as you may designate by notice to to Any nonce provided for m this Deed of Trust shall be deemed to have been given to us or you when given in the manner designated herein RELEASE Upon payment of all sums secured by this Deed of Trust and provided your obligation to make further advances under the Note has terminated, the Trustee shalt discharge this Deed of Trust without charge to w, except that we shall pay any fees for recording of a reconveyance of this Deed of Trust SEVERABILIIY If any provision in this Deed of Trust is held invalid or unenforceable, the renuuimg provisions shall continue in full force and effect GENERAL You or the Trustee can waive or delay enforcing any of your rights under this Deed of Trust without losing them Any waver by you of any provisions of this Deed of Trust will not he a waiver of that or any other provision on any other occasion SUBSTITUTE TRUSTEE Beneficury may. from time to time. appoint a successor trustee by an instrument executed and acknowkdged by Beneficiary and tecorded in the county in which this Deed of Trust n recorded, and upon such recordation the successor trustee stall become vested with the same powers, rights, duties and authority of the Trustee with the same effect as if ongtnally made Trustee hereunder MERGER There shall be no merger of the interest or estate created by thu Deed of Trust with any other estate of interest in the Premises at any tine held by you or for your benefit without your written consent THIS DEED OF TRUST has been signed by each of us under seal on the date first above wnuen My Appotnunent Expires on • HELIX - Coed of Trost 2C5184WA (03199) Gnaw Ocala STATE OF WASHINGTON l J sat Cowsty of =71 O v1ti15\ On tbn day personally appeared before me ,c- to AKni e_ to me )mown to be the tndtvsdua) described in and wbo executed the within and roman)) =tumcat, and acknowledged that N e. shoed the same as '\'3 free and voluntary act and deed. for the uses and -•• 4 . GIVEN under m j• • t a da ; -t .. • .. , t: bt) 1 SHARO 1— - STATE OF WASHINGTON NOTARY —•— PUBLIC In' to11Yt5SiON MU 7-09 Page 4of4 (SEAL) (SEAL) (SEAL) (SEAL) Notary he and for the State of Washington, residing at RECEIVED ;ITV OF TUKWIL.A 'ErpMt t 1 ;EN t E_i•