HomeMy WebLinkAboutDeed APPLICANT 11/17/2020Order No, 0319874
Page 5
PROPERTY DESCRIPTION
PARCEL 1:
Situated in the Southeast one quarter of Section 33, Township 17 South, Range 2 West of
the Willamette Meridian in the City of Springfield, Lane County, State of Oregon and
described as follows: Being (1) all of the lands that were conveyed to the Bond First Family
LLC as ^Parcel I" in that certain Warranty Deed that was recorded April 29, 1997, in Reel
2269, Reception No. 9729069, Lane County Official Records, State of Oregon, (2) all of the
lands that were conveyed to the Bond First Family LLC in that certain Warranty Deed that
was recorded April 29, 1997, in Reel 2289, Reception No. 9729070, Lane County Official
Records, State of Oregon, and (3) all of the lands that were conveyed to the Bond First
Family LLC in that certain Warranty Deed that was recorded April 29, 1997, in Reel 2289,
Reception No. 9729071, Lane County Official Records, State of Oregon, in Lane County,
Oregon.
EXCEPTING THEREFROM the Southerly 50.00 feet by perpendicular measurement of the
lands that were conveyed to the Bond First Family LLC as "Parcel I" in that certain
Warranty Deed that was recorded April 29, 1997, in Reel 2289, Reception No. 9729069,
Lane County Official Records, State of Oregon, in Lane County, Oregon.
ALSO EXCEPT THEREFROM that portion described in Bargain and Sale Deed to the City
of Springfield, Oregon, recorded September 12, 2006, Reception No. 2006-066523, Lane
County Deeds and Records, in Lane County, Oregon.
PARCEL 2:
Situated in the Southeast one quarter of Section 33, Township 17 South, Range 2 West, of
the Willamette Meridian in the City of Springfield, in Lane County, Oregon, and described
as follows: Being all of the lands that were conveyed to Cecelia E. Willis and Mack L.
Bates by that certain Warranty Deed that was recorded February 5, 1958, in Reel 110' 58D,
Reception No. 31445, Lane County Oregon Deed Records, in Lane County, State of Oregon.
EXCEPTING THEREFROM the Southerly 20.00 feet by perpendicular measurement of said
lands, in Lane County, Oregon.
ALSO EXCEPT THEREFROM that portion described in Bargain and Sale Deed to the City
of Springfield, Oregon, recorded September 12, 2006, Reception No. 2006-066523, Lane
County Deeds and Records, in Lane County, Oregon.
Rl"6W Swimm
CASCADE TITLE
MAP NO.
17-02-33-41
THIS MAPIPLAT 1S BEING FURNISHED AS AN AID IN LOCATING THE HEREIN DESCRIBED LAND IN
RELATION TO ADJOINING STREETS, NATURAL BOUNDARIES AND OTHER LAND, AND IS NOT A SURVEY
OF THE LAND DEPICTED. EXCEPT TO THE EXTENT A POLICY OF TITLE INSURANCE IS EXPRESSLY
MODIFIED BY ENDORSEMENT, IF ANY, THE COMPANY DOES NOT INSURE DIMENSIONS, DISTANCES,
LOCATION OF EASEMENTS, ACREAGE OR OTHER MATTERS SHOWN THEREON.
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THIS MAPIPLAT 1S BEING FURNISHED AS AN AID IN LOCATING THE HEREIN DESCRIBED LAND IN
RELATION TO ADJOINING STREETS, NATURAL BOUNDARIES AND OTHER LAND, AND IS NOT A SURVEY
OF THE LAND DEPICTED. EXCEPT TO THE EXTENT A POLICY OF TITLE INSURANCE IS EXPRESSLY
MODIFIED BY ENDORSEMENT, IF ANY, THE COMPANY DOES NOT INSURE DIMENSIONS, DISTANCES,
LOCATION OF EASEMENTS, ACREAGE OR OTHER MATTERS SHOWN THEREON.
TITLE NO. 0319874
ESCROW NO. EU20-1523 IT
TAX ACCT. NO. 0137305 / 1398856
MAP/TAX LOT NO. 17023341#2502#2602
GRANTOR
AMIGOS III, LLC
GRANTEE
ENOCKSON ENTERPRISES LLC
Until a change is requested
all tax statements shall be
sent to the following address:
***SAME AS GRANTEE***
After recording return to:
CASCADE TITLE CO.
811 WILLAMETTE
EUGENE, OR 97401
WARRANTY DEED - STATUTORY FORM
AMIGOS III, LLC, an Oregon Limited Liability Company, Grantor,
conveys and warrants to
ENOCKSON ENTERPRISES LLC, an Oregon Limited Liability Company, Grantee,
the following described real property free of encumbrances except as specifically set forth herein:
SEE EXHIBIT A WHICH IS MADE A PART HEREOF BY THIS REFERENCE
The true consideration for this conveyance is $242,000.00.
BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD
INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195300 (Definitions for ORS 195.300 to 195336)9
195.301 (Legislative findings) AND 195.305 (Compensation for restriction of use of real property due to land use regulation)
TO 195.336 (Compensation and Conservation Fund) AND SECTIONS 5 TO ll, CHAPTER 424, OREGON LAWS 2007,
SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON
LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS
INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR
ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK
WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND
BEING TRANSFERRED /S A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 (Definitions
for ORS 92.010 m 92.192) OR 215.010 (Definitions), TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO
DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS
30.930 (Definitions for OHS 30.930 to 30.947), AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY
OWNERS, IF ANY, UNDER ORS 195.300 (Definitions for OHS 195.300 to 195.336), 195301 (Legislative findings) AND
195.305 (Compensation for restriction of use of real property due to land use regulation) TO 195336 (Compensation and
Conservation Fund) AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17,
CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010.
Except die following encumbrances:
Property taxes in an undetermined amount, which are a lien but not yet payable, including any assessments collected
with taxes in be levied for the fiscal year 20202021.
Covenants, Conditions, Restrictions, Easements and Rights of Way ofrecord, if any.
W RD -TAX LTR(M
Dated thisZ (a _ day ofAft Z676
AMIGOS III, LLC
B
GARY DAVISSON, MANIA AG R�
State of Oregon
County of Lane
This instrument was acknowledged before me on ` y Z(?F� .2020 by GARY A. DAVISSON,
MANAGER OF AMIGOS Ill, LLC.
OFFICIAL STAMP
ASHLEY MULLER
NOTARY PUBLIC -OREGON
COMMISSION NO. 973964
*�ARA
OMMSs"N EXPIRES APflIL 25, 2022
WRD.TA LTR(JT)
Public A]
My commission expires �i-
Exhibit "A"
PARCEL]:
Situated in the Southeast one quarter of Section 33, Township 17 South, Range 2 West of the Willamette Meridian in
the City of Springfield, Lane County, State of Oregon and described as follows: Being (1) all of the lands that were
conveyed to the Bond First Family LLC as "Parcel I" in that certain Warranty Deed that was recorded April 29, 1997,
in Reel 2289, Reception No. 9729069, Lane County Official Records, State of Oregon, (2) all of the lands that were
conveyed to the Bond First Family LLC in that certain Warranty Deed that was recorded April 29, 1997, in Ree12289,
Reception No. 9729070, Lane County Official Records, State of Oregon, and (3) all of the lands that were conveyed to
the Bond First Family LLC in that certain Warranty Deed that was recorded April 29, 1997, in Reel 2289, Reception
No. 9729071, Lane County Official Records, State of Oregon, in Lane County, Oregon.
EXCEPTING THEREFROM the Southerly 50.00 feet by perpendicular measurement of the lands that were
conveyed to the Bond First Family LLC as "Parcel 1" in that certain Warranty Deed that was recorded April
29, 1997, in Reel 2289, Reception No. 9729069, Lane County Official Records, State of Oregon, in Lane
County, Oregon.
ALSO EXCEPT THEREFROM that portion described in Bargain and Sale Deed to the City of Springfield,
Oregon, recorded September 12, 2006, Reception No. 2006-066523 lane County Deeds and Records, in Lane
County, Oregon.
PARCEL 2:
Situated in the Southeast one quarter of Section 33, Township 17 South, Range 2 West, of the Willamette Meridian in
the City of Springfield, in Lane County, Oregon, and described as follows: Being all of the lands that were conveyed to
Cecelia E. Willis and Mack L. Bates by that certain Warranty Deed that was recorded February 5, 1958, in Reel
110'59D, Reception No. 31445, Lane County Oregon Deed Records, in Lane County, State of Oregon.
EXCEPTING THEREFROM the Southerly 20.00 feet by perpendicular measurement of said lands, in lane
County, Oregon.
ALSO EXCEPT THEREFROM that porton described in Bargain and Sale Deed to the City of Springfield,
Oregon, recorded September 12, 2006, Reception No. 2006-066523, Lane County Deeds and Records, in Lane
County, Oregon.
LEGAL. (JT)
T
CASCADE
TITLE
CC.
TITLE NO. 0319874
ESCROW NO. EU20-1523 JT
TAX ACCT. NO. 0137305/1393856
MAPITAX LOT NO. 17 02 33 4102502 #2602
GRANTOR
AMIGOS 111, LLC
GRANTEE
ENOCKSON ENTERPRISES LLC
Lcic Riax Anne
:KuT .l mr—en4r)54
Until a change is requested
all tax statements shall be
sent to the following address:
***SAME AS GRANTEE*-*
After recording return to:
CASCADE TITLE CO.
811 WILLAMETTE
EUGENE, OR 97401
APPROVED & ACCEPTED BY
WARRANTY DEED -- STATUTORY FORM
AMIGOS III, LLC, an Oregon Limited Liability Company, Creator,
conveys and warrants to
ENOCKSON ENTERPRISES LLC, an Oregon Limited Liability Company, Grantee,
the following described real property free of encumbrances except as specifically set forth herein:
SEE EXHIBIT A WHICH IS MADE A PART HEREOF BY THIS REFERENCE
The true consideration for this conveyance is $242,000.00.
BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD
INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300 (Definitions for ORS 195.300 N 195336),
195.301 (Legislative findings) AND 195.305 (Compensation for restriction of use of real property due to land use regulation)
TO 195.336 (Compensation and Conservation Fund) AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007,
SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON
LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS
INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR
ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK
WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND
BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 (Definitions
for ORS 92.010 to 92.192) OR 215.010 (Definitions), TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO
DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS
30.930 (Definitions for ORS 30.930 to 30.947), AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY
OWNERS, IF ANY, UNDER ORS 195.300 (Definitions for ORS 195.300 to 195.336), 195301 (Legislative findings) AND
195.305 (Compensation for restriction of use of real property due to land use regulation) TO 195.336 (Compensation and
Conservation Fund) AND SECTIONS 5 TO It, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17,
CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010.
Except the following encumbrances:
Property taxes in an undetermined amount, which are a lien but not yet payable, including any assessments collected
with taxes to be levied for the fiscal year 2020/2021.
Covenants, Conditions, Restrictions, Easements and Rights of Way of record, if any.
WRD.TAX LTR(rr)
Dated this day of
AMIGOS III, LLC
BY:
GARY A. DAVISSON, MANAGER
State of Oregon
County of Lane
This instrument was acknowledged before me on 2020 by GARY A. DAVISSON,
MANAGER OF AMIGOS 111, LLC.
(Notary Public for Oregon)
My commission expires
Wa Tr Lm(.rm
Exhibit "A"
PARCEL]:
Situated in the Southeast one quarter of Section 33, Township 17 South, Range 2 West of the Willamette Meridian in
the City of Springfield, Lane County, State of Oregon and described as follows: Being (1) all of the lands that were
conveyed to the Bond First Family LLC as "Parcel I" in that certain Warranty Deed that was recorded April 29, 1997,
in Reel 2289, Reception No. 9729069, Lane County Oficial Records, State of Oregon, (2) all of the lands that were
conveyed to the Bond First Family LLC in that certain Warranty Dad that was recorded April 29, 1997. in Reel 2289,
Reception No. 9729070, Lane County Official Records, State of Oregon, and (3) all of the lands that were conveyed to
the Bond First Family LLC in that certain Warranty Deed that was recorded April 29, 1997, in Reel 2289, Reception
No. 9729071, Lane County Official Records, State of Oregon, in Lane County, Oregon.
EXCEPTING THEREFROM the Southerly 50.00 feet by perpendicular measurement of the lands that were
conveyed to the Bond First Family LLC as "Parcel I" in that certain Warranty Deed that was recorded April
29, 1997, in Reel 2289, Reception No. 9729069, Lane County Official Records, State of Oregon, in Lane
County, Oregon,
ALSO EXCEPT THEREFROM that portion described in Bargain and Sale Deed to the City of Springfield,
Oregon, recorded September 12, 2006, Reception No. 2006.066523, Lane County Deeds and Records, in Lane
County, Oregon.
PARCEL 2:
Situated in the Southeast one quarter of Section 33, Township 17 South, Range 2 West, of the Willamette Meridian in
the City of Springfield, in Lane County, Oregon, and described as follows: Being all of the lands that were conveyed to
Cecelia E. Willis and Mack L. Bates by that certain Warranty Deed that was recorded February 5, 1958, in Reel
110'58D, Reception No. 31445, Lane County Oregon Deed Records, in Lane County, State of Oregon.
EXCEPTING THEREFROM the Southerly 20.00 feet by perpendicular measurement of said lands, in lane
County, Oregon,
ALSO EXCEPT THEREFROM that portion described in Bargain and Sale Deed to the City of Springfield,
Oregon, recorded September 12, 2006, Reception No. 2006-066523, Lane County Deeds and Records, in Lane
County, Oregon.
LEGAL (yl)
Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance
Notice is Given By: OREGON PACIFIC BANKING COMPANY Loan Number: 7120159
To: ENOCKSON ENTERPRISES, LLC Order Number. 1207929228
Property Location: 58TH STREET Determination Date:08/13/2020
SPRINGFIELD, OR 97478
❑ Notice of Property IN Special Flood Hazard Area (SFHA)
The building or mobile home securing the loan for which you have applied Is or will be located in an area with special flood hazards. The area has
been identified by the Administrator of IM Federal Emergency Management Agency (FEMA) as a special Rapid hazantl area using FEMA's Hood
Insurance Rate Map or the FMW Ireland! Boundary Map for the following community'
SPRINGFIELD, CITY OF - 41039CI 166F
This area has a one percent (1%) chance of a flood equal tow exceeding the base flood elevation (a 100-yearflood) in any given year. During
the Ida of a 30 -year mortgage loan, the risk of a 100 -year flood in a special flood hazard area is 26 percent (26%). Federal law allows a lender
ant bonower jointly t0 request flte Administrator of FEMA to review Ne determination of whether the property seco nng the loan is located in a
special flood hazard area. If you would like to make such a request, please contact us far further information.
Escrow Requirement for Residential Loans. Federal law may require a tender was servicer to escrow, all premiums and fees for flood insurance
Mat covers any residential building or mobile name waning a loan Nal is located in an area with special flood haiafds. if your lender ratites
you that an escrow account is required for your loan. than you most pay your flood insurance premiums and fees to the lender Or its servicer Win
the same frequency as you make loan payments far the duration of your loan. These premiums and fees will be deposited in the escrow account,
which volt be used to pay the flood insurance provider.
❑ Notice of Property in a Participating Community
The community in which the property securing the loan is located participates in the National Flood Insurance Program (NFIP). Federal law
WIN not allow ue to make you the loan nal you have applied for if you do not purchase flood insurance. The flootl insurance must be
maintained for the life of the loan. If you fail to purchase or renew flood insurance on the property. Federal law authorizes and requires us to
purchase the Rand insurance for you at your expense.
• At a minimum, flood insurance purchased most Dover the lesser W.
(1) the outstanding principal balance of the loan; or
(2) the maximum amount of coverage allowed for the type of property under the NFIP.
• Flood insurance coverage under the NFIP is limited to the building or mantle home and any personal property Nat secures your loan ant
not the land half.
• Federal disaster relief assistance (usually in the form of a low-interest loan) may be available for damages incurred in excess of your
flood insurance d your community's participation in Me NFIP B in accordance win NFIP requirements.
• Although you may not be required to maintain flood insurance on all structures, you may still wish to do so, and your mortgage lender
may still require you to do so to protect the collalwal securing the mortgage, If you choose not to maintain good insurance on a
Sher ure and it floods, you are responsible for all flood lasses feeling to Mat structure.
• Availability of Private Road Insurance CoverageFlood insurance coverage under the NFIP may be purchased through an Insurance
agent who will obtain the policy either directly through the NFIP or through an insurance company that participates in the NFIP. Flood
insurance that provides the same level of coverage as a standard flood insurance policy under the NFIP may be available from privale
Insurers that do not participate in the NFIP. You should compare the flood insurance coverage, dedutlibles, exclusions. conditions and
premiums associated wth flood insurance policies issued on behalf or the NFIP and policies issued on behalf of private insurance
companies and contact an insurance agent as to Me availability, cost, and comparison of flood insurance coverage.
❑ Notice of Property in a Non -Participating Community
Flood insurance coverage under Me NFIP is not available far the property securing the loan because the community in which the property is
located does not participate in the NFIP. In addition. d the non -participating community has been identified for at least ane year as
containing a special flood hazard area, wopemes located in the community will not be eligible for Federal disaster relief assistance in the
event of a Federally declared good disaster
® Notice of Property NOT IN Special Flood Hazard Area (SFHA)
The building or mobile home securing the loan far which you have applied is net currently located in an area designated by the Administrator of
FEMA as an SFHA. NFIP Flood insurance is not required, but may be available. If, during the term of In* loan. the subject propend Is identified
as being in an SFHA, as designated by FEMA you may be required to purchase and maintain flood insurance at your expense.
Borrower's Signature / Date
OREGON PACIFIC BANKING COMPANY
LenM'ng Institution
DMvm —k o Geek. 1.'a.Se MA
Co,Borrower's Signature / Date
Lending Institution Authorized Signature /Date
RECORDATION REQUESTED BY:
OREGON PACIFIC BANK
LOAN SUPPORT
1365 Highway 101
P.O. Box 22000
FLORENCE,OR 97439
WHEN RECORDED MAIL TO:
OREGON PACIFIC BANK
LOAN SUPPORT
1365 Highway 101
P.O. Box 22000
FLORENOE,OR 97439
SEND TAX NOTICES TO:
ENOCK90N ENTERPRISES LLC
DEED OF TRUST
THIS DEED OF TRUST is dated August 20, 2020, among ENOCKSON ENTERPRISES LLC, an Oregon Limited
Liability Company, whose address is 795 RIVER AVE, EUGENE, OR 97404 ("Grantor"); OREGON PACIFIC
BANK, whose address is LOAN SUPPORT, 1365 Highway 101, P.O. Box 22000, FLORENCE, OR 97439
(referred to below sometimes as "Lender' and sometimes as "Beneficiary"); and CASCADE TITLE COMPANY,
whose address is 811 WILLAMETTE ST, EUGENE, OR 97401 (referred to below as "Trustee").
CONVEYANCE AND GRANT. For valuable consideration, represented in the Note stated August 20, 2020, in the original principal amount
of $121,000.00, from Grantor to Lender, Grantor conveys to Trustee for the benefit of Lender as Beneficlary all of Grantees right, title,
and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings,
improvements and fixtures; all easements, rights of way, and appurtenances: all water, water rights and ditch rights (including stock in
utilities with ditch or irrigation rights): and all other rights, royalties, and profits relating to the real property, including without limitation all
minerals. oil, gas. geothermal and similar matters, (the "Real Property") located in LANE County, State of Oregon:
See EXHIBIT "A", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully
set forth herein.
The Real Property or its address Is commonly known as TAX ASSESSOR'S MAP NUMBERS 17 02 33 4 1, #
2502 AND #2602, SPRINGFIELD, OR 97478. The Real Property tax Identification number is 0137305 AND
1398656.
CROSS -COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and hall plus interest
thereon, of Grantor to Lender. or any one or more of them, as well as all claims by Lender against Grantor or any one as more of them,
whether now existing or hereafter arising, whether related or unrelated to the purpose of the NOW. whether voluntary, or otherwise.
whether due or not due. direct or Ireland, determined or undetermined, absdule or contingent, liqualaled or unliquidated. whether Grantor
may to liable individually or jointly with pears, whether obligated as guarantor, surety, accommodation party or otherwise, and whether
recovery upon such amounts may be or hereafter may become bared by any statute of limitations, and whether the obligation to repay
such amounts may be or hereafter may became otherwise unenforceable.
Grantor Presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Granter's right, title, and interest in and o all
Present and future leases of the Property and all Rents frau the Property. In atlditlon, Grantor grants to Lender a Uniform Commercial
Code security interest In the Personal Property and Rents.
THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Grantor shall Pay to Lender all amounts secured by
this Dead of Trust as may become due, and shall strictly and in a timely manner perform all of Grantor's obligations under the Note, this
Deed of Trust, and the Related Documents.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees tat Grantees possession and use of the Property shall be
governed by the following provisions:
Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain In possession and control of the Property;
(2) use, operate or manage the Property; and (3) collect the Rents from the Property. The following provisions relate to the use of
the Property or M other limitations on the Property. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON
TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ONE 195.300, 195.301 AND
195.305 TO 195.336 AND SECTIONS 5 TO 11. CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855,
OREGON LAWS 2001 AND SECTIONS 2 TO 7, CHAPTER S. OREGON LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF
THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE
SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE
APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A
LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE
LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES. AS DEFINED IN ORS
30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS. IF ANY, UNDER ORB 195.300, 195.301
AND 195.305 TO 195.336 AND SECTIONS 5 TO 11. CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER
855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010.
Duty to Maintain. Grantor sell maintain the Property in tenantable condition and promptly perform all repairs, replacements. antl
maintenance necessary to preserve its value.
Compliance With Environmental Laws. Grantor represents and warfare$ to Lender that: (1) Ounce me Period of Grantor's ownership
of the Property, there has been ran use, generation, sn"faoWre, slomge, treatment, disposal, release or threatened release of any
Hazardous Substanoo by any person on, under, about or from the Property; (2) Grantor has no knowledge of, a reason to believe
that there has been. except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
Environmental Laws, (b) any use, generation, manufacture, storage, treatment. disposal, release Or threatened release of any
Hazardous Substance on, under, about or from the Property by any prior Owners or occupants of the Property, or (c) any mural Or
threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
acknowledged by Lender in writing, (a) neither Grantor nor any tenant. contractor, agent a other authorized user of me Property
DEED OF TRUST
(Continued) Page 2
shall use, generale, manufacture, store, treat, dispose of or, release any Hazardous Substance on, under, about or from the Property;
and (b) any such activity shall be conducted in compliance with all applicable federal, slate, and local laws, regulations and
ordinances, including without limitation all Environmental Laws. Grantor authorizes Lander and Its agents to enter upon the Property
to make such inspections and tests, at Grantors expense, as Lander may deem appropriate to determine compliance of the Property
with this section of the Deed of Trust. Any inspections or leets made by Lender shall be fm LarMar's purposes only and shall not be
construed to create any responsibility or liability on the pad of Lender to Grantor o to any other person. The representations and
warranties contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor
hereby (1) releases and waives any future claims against Lender far indemnity or contribution in We event Grantor becomes liable for
cleanup or other costs under any such laws: and (2) agrees to indemnify, defend, and hold harmless Lender against any and act
claims, losses, liabilities, damages. penalties, and expenses which Lander may directly or indirectly sustain or suffer resulting from a
breach of this section of the Deetl of Trust or as a consequence of any use, generefion, manufacture, storage, disposal, fall of
threatened release ocwrpng prior to Grantor's ownership or interest in the Property, whether or not the same was or should have
been known to Grantor . The provisions of this section of the Dead of Trust, including the obligation to indemnify and defend, shall
survive the payment of the Indebtedness and Me satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
affected by Lenders acquisition of any interest in the Property, whether by foreGosum or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any strafing of or weeks on
or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will net remove, or grant to
any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel a rack products
without Lender's prior written consent.
Removal of Improvements. Grantor shall not demolish or rednove any Improvements from the Real Property without Lender's prior
written consent. As a condition to the removal of any Improvements, LaMar may require Grantor to make arrangements satisfactory
to Lender to replace such Improvements with Improvements of at least equal value.
Le.der'5 Right to Enter. Lender and La Mar's agents and representatives may enter upon the Real Property at all reasonable times to
attend to Lenders interests and to inspect the Real Property for purposes of Grantors compliance with the terms and conditions of
this Deed of Trust.
Compliance with Governmental Rsqulrerosnla. Grantor shall promptly comply with all laws, ordinances, and regulations, now or
hereafter in effect, of all governmental authoplies applicable to the use or occupancy of the Property, including without limitation, the
Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance
during any proceeding, including appropriate appeals, so long as Grantor has purl Lender in writing prior to doing so and so long
as, in Lender's sole opinion, Lenders Interests in the Peabody are not jeopardized. Lender may require Grantor to Post adequate
security or a surely bond, reasonably satisfactory to Lender, to protect Lenders interest.
Duty to Protect. Grantor agrees neither to abandon or leave unattended Me Property. Grantor shall do all other acts, in addition to
those eels set forth above in this section, which from the character and use of the Property are reasonably necessary to prolect and
preserve the Property.
DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this
Dead of Trust upon the sale or transfer, without Lenders prior written consent, of all or any pan of the Real Properly, or any interest in the
Real Radial A "sale or transfer" means the conveyance of Real Properly or any right, title or interest in the Real Property: whether legal,
beneficial or equitable; whether voluntary or involuntary: whether by outright sale, deed, Installment sale contract, land contract, contract
for used, leasehold interest with a term greater than three (3) years, leares option contract, Or by sale, assignment, or transfer of any
beneficial interest in or to any lend trust holding title to the Real Property, or by any other method of conveyance of an india l in the Real
Properly. If any Grantor is a corporation, partnership or limited liability company, transfer also includes any restructuring of the legal entity
(whether by merger, division or otherwise) o any change in ownership of more than twenty-five percent (25%) of the voting stock,
partnership interests or tinged hill company Interests, as the case may be, of such Grantor. However, this option shall not be
exercised by Lender if won ideal Is prohibited by federal law or by Oregon law.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Properly are pad of this Deed of Trust:
Payment. Grantor shall pay when clue land in all events prior to delinquency) sit taxes, special taxes, assessments. charges (including
water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done
on o for services rendered a malarial furnished to the Property. Grantor shall maintain the Property tree of all liens having portly
over or equal to the interest a Lender under this Deed of Trust, except for the lien of taxes and assessments ret due and except as
otherwise provided in this Deed of Troll.
Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute aver the
obliged.. to pay, so long as Lenders interest in the Property Is not jeopotlaea. If a lien arises or is filed as a result of nonpayment,
Grantor shall within fifteen Ll 5) days after the lien apses or, if a lien is filed, within fifteen (15) days after Grantor has notice of the
filing, secure the discharge of the lien, or if requested by Lender, deposit with LaMar cash or a sufficient corporate surety hand or
other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges
that could accrue as a result of a foreclosure o sale under the lien. In any contest. Grantor shall defend itself and Lender and shall
satisfy any adverse judgment before enforcement against the Property. Grantor shall name LaMar as an additional obligee under any
surely bond furnished In the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the lazes or assessments and
all schemes the appropriate governmental official to deliver to Lander of any fare a wall statement of the taxes and assessments
against the Property.
Notice of Construction. Grantor shall notify LaMar at least fifteen (15) clays before any work is commenced, any services are
furnished. a any materials are supplied to the Property, If any mechanics lien, matepalmi lien, a other lien could be asserted on
account of the work, services, or makenals. Grantor will upon request of Lender furnish to Lender advance assurances salisfackory to
Lender that Grantor can and will pay Me cost of such Improvements.
PROPERTY DAMAGE INSURANCE The following provisions relating to roaring the Property area part of this Deetl of Trust.
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage
endorsements on a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient
to avoid application of any coinsurance clause, and with a standard mortgagee deuce in favor of Lender Grantor shalt also procure
and maintain comprehensive general liability insurance In such coverage amounts as Lender may request with Trustee and LaMar
being named as additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other Insurance,
including but not limited to hezerd, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be
written in form, amounts, coverages and basis assembly acceptable to Lender and issued by a company or companies reasonably
acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the polices or certifcates of insurance
in form satisfactory to Lager, Including stipulations that coverages will not be cancelled or diminished without at least thirty (30)
days Wilar written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage In favor of
Lender will not be impaired in any way by any act, omission Or default of Grantor or any other person. Should the Real Property be
located in an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area.
Grantor agrees to obtain and maintain Federal Flood Insurance, if available, for the full unpaid principal balance of the ban and any
prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, o as
omawise required by Lender, and to maintain such Insurance for the term of the loan.
Application of Proceeds. Grantor shall promptly notify Lander of any loss o damage to the Property. Lander may make proof of loss
if Grantor fails to do so within fifteen (15) clays of the casualty. Whether or not Lenders security is impaired, Lender may, at Lenders
election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of
any lien attracting the Property, or the restoration and repair of the Property. If LaMar elects to apply the proceeds to restoration and
repair, Grantor shall repair a replace the damaged or destroyed Improvements in a manner satisfactory to Lentler, Lender snail, upon
satisfactory proof of such expenditure, pay or reimburse Grantor tram the proceeds for the reasonable cost of repair or restoration if
Grantor is not In default under this Deed of Trost. Any proceeds which have not been disbursed within 180 days after their receipt
DEED OF TRUST
(Continued) Page 3
and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender
untler this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall M applied to the principal balance of the
Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness. such Proceeds Shall be paid to Grant" as
Grantors interests may appear.
Grantors Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report
on each existing policy of insurance showing: (1) the name of the Insurer; (2) the risks insured; (3) the amount of the policy; (e)
the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the
expiration date of the policy. Grantor shall, upon request of Lenderhave an independent appraiser satisfactory to Lender determine
the cash value replacement cost of the Property.
LENDER'S EXPENDITURES. If any acttch or proceeding is commenced that would malembly affect Lenders interest in the Property or if
Grant" fails to comply with any Provision of this Deed of Trust or any Related Documents, Including but rot limited to Granters failure to
discharge or pay when due any amounts Grant" is required to discharge or Pay under this Dead of Trust a any Related Documents,
Lender on Grantors behalf may (but shall trot be obligated lo) take any action that Lender deem$ appropriate. Moutling but not gmRed to
discharging or paying all taxes, liens. Security interests, encumbrances and other claims, at any time levied or placed on the Property and
paying all costs for insuring, maintaining and preserving the Property. All such expenditures Incurred or paid by Lender for such Purposes
will than bear Interest at the rate charged under the Note from the date incurred or paid by LaMar to the data of repayment by Grantor. All
such expenses will become a part of the Indebtedness and, at Lenders option, will (A) be payable on demand (B) be added to the
balance of the Nate and be apportioned among and be payable with any Installment payments to bec"ne due during either (1) the term of
any apriicable insurance policy; or (2) the remaining Senn of the Note; or (C) be treated as a balloon payment which will be due and
payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right Shall b , in addition to all other
rights and remedies to which LaMar may be entitled upon Default.
WARRANTY; DEFENSE OF TITLE. The following provisions relaxing to ownership of the Property are a pad of this Deed of Trust:
Title. Grantor wanants that. (a) Grantor holds good and marketable title of record to the Property in fee simple, free and clear of of
Ilan and encumbrances other Iran these set forth in the Real Property description a in any title insurance policy, title report, or final
title opinion Issued in fav" of, and accepted by. Lender in connection with this Dead of Trust, and (b) Grantor has the full right,
Power, and aulhonly to execute and deliver this Deed of Trust to Lender.
Defense of Title. Subject W the exception in the paragraph above. Grantor warrants and will forever defend the title to the Prosody
against the lawful claims of all person. in the event any action Or proceeding is commenced that questions Grantor's title or the
interest of Trustee or Lender under Nis Deed of Trust. Grantor strait defend due action at Grantors expense. Grantor may be the
nominal party in such procietling, but Lender shall be entitled to participate in the proceeding and to be represented in the Proceeding
by counsel of Lender's own chance, and Grantor will dallver. or cause to be defivered, to Lender such instruments as Lender my
request from time to time to permit such participation.
Compliance With Lam. Grantor warrants that the Property and Grantor's use of the Properly complies with all existing applicable
laws. ordinances, and regulations of governmental authorities.
Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Deed of Trust
shall Survive the execution and delivery of this Deed of Trust, Shall be continuing In nature, and shall remain In full force and effect
until such time as Grantors Indebtedness shall be paid in full.
CONDEMNATION. The following Provisions relating to condemnation proceedings are a part of this Deed of Trust'
Proceedings. If any proceeding In condemnation is filed. Grantor shall promptly notify Leader In writing, and Grantor shall promptly
take such steps as may be necessary to defend Ne action and obtain the award. Grantor may be the nominal party in such
proceeding, but Lender sial be entitled to perttispaie In the proceeding and to be represented In the proceeding by counsel of its own
twice, and Grantor will deliver or cause to be defivered to Lender such instruments and documentation as may be requested by
LaMar from time to time to permit such participation.
Application of Not Proceeds. If all or any pad of the Property is candarmed by eminent domain proceedings or by any proceeding or
purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied
to the Indebtedness " the repair or possession of the Property. The net Proceeds of the award shall mean the award after payment of
all reasonable costs, expenses, and alt"treys' fees incurred by Trustee " Lender in connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
taxes, fees and changes are apart of this Deed of Trust:
Current Taxes, Fees and Charges. Upon request by Lentler, Grantor Shall execute such documents In addition to Nis Deetl of Trust
and take whatever other action is requested by Lender to perfect and continue Lenders lien on the Real Property. Grantor shall
reimburse L8md9r for all taxes, as described below, together with all expenses incurred in recording, perfecting or c"ai"nng INS Deed
of Trust. Including without limitation all taxes, fees, documentary Stamps, and other charges for recording a registering this Dead of
Trust.
Taxes. The following shall constitute taxes to which this section appfiea: (1) a specific tax upon this type of Dead of Trust or upon
all or any part of the Indebtedness secured by this Dead of Trust; (2) a specihic tax on Grantor which Grantor is Mahodzed or
required to deduct from payments on the indebtedness secured by this type of Dead of Trust; (3) a lax on this type of Deed of Trust
chargeable against the Lender or the homer of the Note; and (4) a specific tax on all or any portion of the Indebtedness a on
payments of principal and interest made by Grantor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the dale of this Dead of Trust, this event shall
have the same effect as an Event of Default, and LaMar may exercise any or all of Its available remedies for an Event of Default as
provided below unless Grantor either (1) pays the tax before it becomes delinquent, M (2) contests the tax as provided above in the
Taxes and Liens section and deposits wiN Leader cash of a sufficient corporate surety band or other security satisfactory to Lender.
SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions staling to NB Dead of Trust as a security agreement are a
part of this Deed of Trust
Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
Leader shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender, German shall take whatever action is requested by Lender to perfect and continue Lenders
security interest in the Rents and Personal Property. In addition to recoding this Deed of Trust in the real property records. Lender
may, at any lime and without further authorization from Grantor, fix executed counterparts, copies or reproductions of this Deed of
Trost as a financing statement. Grantor shall reimburse Lender fon all expenses incurred in perfecting a continuing this security
interest. Upon default, Grantor Shalt not remove, sever or detach Ne Personal Properly from the Property. Upon default, Grantor shall
assemble any Personal Properly not affixed to the Property in a manner and at a pace reasonably convenient to Grantor and Lender
and its it available to Lender within three (3) days after mci of written demand from LaMar to the extent permitted by applicable
taw.
Addressee. The mailing addresses of Grantor (debtor) and Lenten (secured party) from which information concerning the security
interest granted by this Dead of Trust may be obtained (each as required by Ne Uniform Commercial Cade) are as staled on the first
page of this Deed of Trust.
FURTHER ASSURANCES; ATTORNEY -N -FACT. The following provisions relating to further assurances and attorney-tn-fact are a pan of
this Deed of Trust
Further Assurances. Al any time, and from time N time, upon request of Lender, Grantor will make, execute and deliver, or will cause
to be matle, executed or delivered, to Lender or to Lenders designee, and when requested by Lender, cause to be filed. recorded.
refiled, or rerecorded. as the was may be, at Such times and in such offices and places as Lender may deem appropriate, any and all
such mortgages, deeds of trust, security deeds, security agreements, financing Statements, continuation Statements. Instruments of
further assurance, cerlificeles, and other documents as may, in the sok opinion of Lender, be necessary on desirable in "der to
DEED OF TRUST
(Continued) Page 4
effeduate, Complete, paned, conpnue, or preserve (1) 6rarilar'9 obligations under the Note, this Dead of Trost, and the Related
Documents, and (2) the liens and security Interests created by this Deed of Trust as first and prior liens on the Property, whether
now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall
reimburse Lander for all costs and expenses incurred In Connection with the matters referred to in this poragreph,
ARorney-In-fad. If Grantor fails to do any of the things retorted to in the preceding paragraph. Lender may do so far and in the name
of Grantor and at Grantors expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantors attorney -in -fad for
the purpose of making, executing, delivering, filing, recording. and doing all other things as may be monetary or desbade, in Lenders
sole opinion, to accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. It Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor
ober this Deed of Trust, Lander shall execute and deliver to Trustee a request for full reconveyance and shelf execute and deliver to
Grantor suitable statements of tennlnallon of any financing statement on file evidencing Lenders security interest in the Rents and Ne
Personal Property. Any reconveyance fee required by law shall be said by Grantor, if permitted by applicable law.
EVENTS OF DEFAULT. Each of the following, at Lander's option, shall constitute an Event of Default under this Deed of Tumb
Payment Default Grantor fails to make any payment when due under the Indebtedness,
Other Defaults. Grantor fails to comply with or to perform any other term, obligation. Covenant or Condition Cnntalred in this Dead of
Trust or in any of the Related Documents or to comply with or to perform any term. obligation, Covenant or condition captured in any
other agreement between Lender and Grantor.
Compliance Default. Failure to comply with any other term, obligation. Covenant or condition Contained in this Deed of Trus, the Note
or in any of the Related Documents.
Default on other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or
insurance, or any other payment necessary to prevent filing of or to effect discharge or any lien.
Environmental Default Failure of any perry to comply with or perform when due any term, abligalbn, covenant or Condition contained
in any environmental agreement executed in connection with the Property.
Default in Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, Purchase or sales
agreement, or any other agreement, in favor of any other creditor or person that may maledally affect any of Grantors property car
Grantors ability to repay the Indebtedness a Grantor's ability to perform Grantors obligations under this Deed of Trust or any of the
Related Documents.
False Statements. Any warranty, representation or statement made or Furnished to Lender by Grantor or on Grantor's behalf under
this Dead of Trust or the Related Documents is false or misleading in any material respect. either now or at the time made or furnished
or becomes false or misleading at any time Whereafter.
Defective Collaticalleation. This Deed of Trust or any of the Related Documents ceases to ba In full force and effect ducluding failure
of ally collateral document to Create a valid and perretled security interest an lien) at any time and for any reason.
Death or Insolvency. The dissolution of Grantors (regadlass of whether election to Continue is made), any member withdraws from
Me limited liability Company, or any other lefmusteen of Grantors existence As a going business or the death of any member, the
insolvency of Grantor. Me appointment of a receiver for any pan of Grantor's propend, any assignment for the benefit of Creditors,
any type of Creditor workout. or the commencement of any proceeding under any bankruptcy or Insolvency laws by or against
Grantor.
Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
repossession or any other method, by any creditor of Grantor or by any governmental agency against any property securing the
Indebtedness, This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, that
Event of Default shall not apply it (here is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is Ne
basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the Creditor or forfeiture proceeding and
deposits with Lender resines or a surely band for the creditor or forfeiture proceeding. In an amount determined by Lender, In its sole
discretion, as being an adequate reserve or bond for the dispute.
Breach of Other Agreement. Any breach by Grantor oder the terms of any other agreement between Grantor and Lander that is not
remedbd within any grace period provided therein, including without limitation any agreement Concerning any indebtedness or other
obligation of Grantor to Lender, whether existing new or later.
Events Affecting Guarantor, Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
Guarantor dies or becomes incompetent or revokes a disputes the validity of, or liability under, any Guaranty of the Indebtedness.
Adverse Change. A material adverse change occurs In Grantor's financial Condition, or Lander believes the prospect Of payment or
performance of the Indebtedness is Impaired.
Insecurity. Lender in good faith believes Itself insecure.
Right to Cure. if any default, other than a default in payment, is curable and if Grantor has not been given a notice of a breach of the
same provision of (his Deed of Trust within the preceding twelve (12) months, it may be cured if Grantor. after LaMar sends written
police to Grantor demanding cure of such default (1) Cores the default within fifteen (15) days; or (2) of the cure requires more
than fifteen (15) days. immediately intliales steps which Lender deems in Lenders sole discretion to be sufficient to Cute the default
and thereafter Continues and Completes all reasonable and necessary steps sufficient to produce Compliance as soon as reasonably
pradical.
RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Dead of Trust, al any time thereafter, Trustee or Lander
may exercise any one or more of the following rights and remedies:
Section of Remedies. Election by Lender to pursue any remedy shall non exclude Consult of any other remedy, and an election to make
expenditures or to lake sabot to perform an obligation of Grantor under this Deed of Trost after Granters failure to perform, shall net
affect Lenders right to declare a default and exercise Its remedies.
Accelerate Indebtedness. Lander shall have the right at its option without notice to Grantor to declare the entire Indebtedness
immediately due and payable, including any prationa l penally which Grantor would be required to pay.
Foreclosure. With respect to all or any pad of the Real Property. the Trustee shall have the right to foreclose by notice and sale, and
Lender shall have the right to foreclose by judicial foreciosure, in either case in accordance with and In lire full extent provided by
applicable law. If this Dead of Trust Is foreclosed by judicial foreclosure. Lender will ho entitled to a judgment which will provide that
if Ne foreclosure sale proceeds are insuf ident to satisfy the judgment, execution may issue for the amount of the unpaid balance of
the judgment.
ULC Remedies. With respect to all or any part of Ne Personal Property, Lender shall have all the rights and remedies of a secured
party under the Uniform Commerelal Code,
Collect Rents. Lender shall have the right, without notice to Grantor to take possession of and manage the Property and Collect the
Rends, including amounts past due and unpaid. and apply the net proceeds, over and above Lender's costs, against Ne Indebtedness.
In furtherance of this right, Lender may require any tenant a other user of the Property to make payments of rent or use fees directly
to Leader. If the Rents are collected by Lender, then Grantor Irrevocably designates Lender as Grantor's attorney -in -fad to endorse
instruments received in payment thereof in the name of Grantor and to negotiate Iha same and collect the proceeds. Payments by
tenants or other users to Lentler in apparent to Lender s demand shall satisfy the obWgalaons for which the payments are made,
whether or not any proper grounds for the demand existed, Lender may exercise its rights under this subparagraph either in Camen,
by agent, or through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any pan of the Property, with
the power to protect and preserve the Property, 10 operate the Property preceding torectosure or sale, and to collect the Rents from
DEED OF TRUST
(Continued) Page 5
the Property and apply the proceeds, over and above the cast of the receivership, against the MWabtedness- The receiver may serve
without band if permitted by law. Lenders right W the appointment of a receiver shall exist whether or net the apparent value of the
Property exceeds me Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from small as a
receiver.
Tenancy at Sufferance. If Grantor remains in possession of the Property affair the Property is sold as provided above or Lender
rlherwlse becomes entitled to possession of the Property upon default of Grantor, Grantor shall became a tenant at sufferance of
Lender a the purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for Me use of the Property, or
(2) vacate the Property immedlalely upon the demand of Lender.
Offer Remedies. Trustee or Lender shalt have any other night or remedy provided in this Dead of Tonal or the Now or available at law
or in equity.
Notice of Sate. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the
time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable matice shall mean
notice given at least fifteen (15) days before the time of the sale or disposition. Any sale of the Personal Property may be made in
conjunction with any sale of the Real Property.
Sale of the Property. To the exlenl permitted by applicable law, Grantor hereby waives any and all rights to have the Property
marshalled. In exercising Its rights and remedies, the Trustee or Lender shall be free to sell all or any part of the Property together of
separately, in one sal or by separate sales. LaMar shall be entitled to bid at any public sale o0 all or any portion of the Property.
Attorneys' Fees-, Expenses. if Lender institutes any suit or action to enforce any of the terms of this Deed of Than. Lender shall be
entitled to recover such sum as the court may adjudge reasonable as altornays' fees at trial and upon any appeal. Whether or not any
court action Is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
necessary at any lime for She protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable
on demand and shag bear interest at the Note to from the data of the expenditure until repaid. Expenses covered by this paragraph
include, without limitation. however subject to any limits under applicable law, Landers attorneys' fees and Lenders legal expenses.
whether a not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or
vacate any automatic sly or injunction), appeals, add any anticipated post -judgment collection services, the cast of searching
records, obtaining Mlle reports (including foreclosure reprms), surveyors' reports, and appraisal fees, title insurance, and fees for the
Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in station to all other sums provided by
all
Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relling to the powers and obligations a Trustee are part of this
Deed of Trust:
Powers of Trostes. In addition Or all powers of Trustee arising as a matter of law. Trustee shrill have the power to lake the following
actions with respect to the Property upon the written request of Lender and Grantor(a) loin in preparing and filing a map or plat of
the Real Properly, including the dedication of streets or other rights to the pudic (b) join in granting any easement or creating any
restriction on the Real Property: and (c) join in any subardination or other agreement affecting this Dead of Trust a the modest of
Lender under Ih is Deed of Trust.
Obligations to Notify. Trustee shall not be obligated to notify any other party of a pending sale under any other trust dead or lien, or
of any action Or proceeding in which Grantor, Lender, or Trustee shall be a party, unless the action or proceeding is brought by
Trustee.
Trusts. Trustee shall meet all quallficaGons required for Trustee under applicable law. In addition to the rights and remedies set
forth above, with respect to all of any part of the Property, the Trustee shall have the right to foreclose by notice and sal, add Lender
shall have the right l foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable
taw.
Successor Trustee. Lender, at Lenders option, may from time to tome appoint a successor Trustee to any Trustee appointed under
This Deed of Trost by an instrument executed and acknowledged by Lender and recorded In the office of the recorder of LANE County,
State of Oregon. The instrument shall contain, in addition to all other matters recorded by state law, the names of the original Lender,
Trustee, and Grantor, the book and page where this Dead of Trust is recorded, and the name and address of the successor busies,
and ga instrument shall be executed and acknowledged by Lender or its successors in interest. The successor trustee, without
conveyance of the Property, shall succeed to all the title, power, and duties contended upon the Trustee in this Dead of Trust and by
applicable law. This procedure for substitution of Tuslee shag govem to the exclusion of all other provisions for substitution.
NOTICES. Any notice required to be given under, this Deed of Trust, including without limitation any notice of default and any notice of
sale shag be given in writing, and shall be effective when actually delivered, when actually received by alefacsissm (unless otherwise
required by law), when deposited with a nationally recognized overnight courier. Or, if mend, "an deposited in the United Stara mail, as
first Gass. certified or registered mail postage prepaid. directed to the addresses shown near the beginning of this Deed of Trost. All
copies of notices of foreclosure from the holder of any lien which has priority over this Dead of Trust shall be sent to Lenders address, as
shown near the beginning of this Dead of Trust. Any party may Mange its address for polices under itis Deed of Trust by giving formal
written duce to the other parties, specifying that the purpose of the notice Is to change the party's address. For notice purposes, Grantor
agrees to keep Lender informed at all rimes of Grantors current address. Unless otherwise provides or required by law, if there Is more
than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.
APPRAISAL UPDATE. If al any time during the farm of this Deed of Trust, the Lender, in the reasonable orchard of its judgment,
determined that it is likely that there hes been a material adverse change in the value of the Real Property, Lender may obtain, at
Borrower's expense, an appraisal of the Real Property prepared by an appraiser satisfactory to Leiter and in a form and substance
satisfactory le Lender.
COMPLIANCE WITH CONTROLLED SUBSTANCES LAWS. Grantor hereby agrees (1) not to enter into, consent to or permit any lease,
sublease, license or other agreement relating to, or otherwise permit the use or Occupancy of the Property for a Conlrolld Substances Use
or in any lamer that violates or could violate any federal or state Controlled Substances Laws, including, without Iivtltation, any business,
communications, financial transactions or other activities related to Controlled Substances or a Controlled Substance Use that violate or
could violate any Controlled Substances Laws (collectively, "Drug -Related Activities"), (2) not to engage in any Drug -Related Activities: (3)
not to make any Payments to Lender from funds denied from Drug -Railed Activities, (4) to provide W Lender, from time to time, within
thirty, (30) days after Lenders request thereto, any information that Lender reasonably requests, relating to compliance with this Section;
(5) include in all lases and other agreements for use and occupancy of the Property, provisions that (1) prohibit any Controlled Substance
Use or Drug -Related Activities on Me Property and (ii) peddyl the Lender to make physical inspections of Me Property upon the request of
the Lender. Larder shall be permitted to make physical inspeolions of the Property to assure compliance with the provisions of this
Section from time to lime upon ten (10) days' prior written notice to Borrower. For purposes of this Section, (1)'Controlled Substances
Laws" means the Federal Controlled Substances Act (21 US.C. §§ 801 at seq.) or any other all or related federal, state or local law,
ordinance, code. rule, regulation, or order, (ii) "Controlled Substances" means marquag8, cannabis. or other controlled aubslncee as
defined in the Federal Controlled Substances Act or that otherwise are illegal or regulated under any Controlled Substances Laws: and (iii)
"Controlled Substances Use" means any cultivation, growth, creation, production, manufacture, sale. distribution, storage, handling,
possession, or other use of a Controlled Substance, The Provisions of this Section shall apply mtwithslnding any state or local law
permitting the Controlled Substances Use or Drug Related Activities. Notwithstanding any provision In any Loan Document to the Ordinary,
ro direct or indirect disclosure by Borrower to Lender or any person affiliated with Lender, and no knowledge of the Lender or any person
agill with the Lender, of the existence of any Doug -Relaid Activities or Controlled Substance Use on. In or about the Property shail
estop Lender or waive any right of Lender to Invoke any remedy under the Loan Documents for violation of any provision hereof related to
the prohibition of any Drug -Related Activities or Controlled Substance Use on, in or about me Property. The foregoing shall apply
notwithstanding the receipt or execution of an Estoppel Certificate Or a Subordination. Non-Dislurbance, or Abommenl Agreement or other
document from or with any tenant of Borrower engaged in such prohibited activity.
DIGITAL SIGNATURES. The undersgned agree that this Agreement and any Other agreement, security agreement, assignment, guarantee
DEED OF TRUST
(Continued) Page 6
or disclosure delivered together with this Agreement individually and collectively, 'Low Document") may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to be an original; and all such Counterparts, or as many of
them as the Lender and Borrower shall preserve undesmayed, shall together constitute but one and the same instrument. The delivery of
this Loan Document by facsimile, scanned image or other electronic transmission will be heated as delivery of an anginal document, antl
any signature of any party thereon shall be considered to be an original signature, with the same legal effect as an original signature on an
anginal document At the request of any party, a facsimile, Scanned image or other electronically transmitted Loan Document shall be
re -executed by all names in onginal form, antl the original signatures delivered to the other parry. No party may raise Ne use of a
facsimile, scanned Image or other electronically transmitted Loan Document. or the fact that any signature was transmitted through the use
of a facsimile, scanned image on other electronic transmission, as a defense to the validity Or enforcement of this Lon Document.
MISCELLANEOUS PRO)ASIONS, The following miscommeous provisions are a part of this Deed of Trust:
Amendments. This Deed of Trust together with any Related Documents, Constitutes the entire understanding and agreement of the
parties as to the metiers set forth In this Deed of Trost. No alteration of or amendment to this Deed of Trust shall be effective unless
given in writing and signed by Ne pally or parties sought to be Charged or bound by the atterelion or amendment.
Annual Reports. If the Property is used for purposes other gun Grantor's residence. Grantor shall famish to Lender, upon request, a
Codified statement of net operating income received from the Property during Grantors previous fiscal year in such form and detail as
Lender shall require. "Net operating income" shall mean all Cash receipts from the Property less all Cash expenditures made In
Connection with the operation of the Property.
Caption Headings, Caption headings In this Deed of Trust are for Convenience purposes only and are ant to be used to interpret or
define the provisions of Nis Deed of Trust.
Merger. There shall be no merger of the interest a estate created by this Deed of Trust with any other interest or estate in the
Property at any time held by or fa the berw it of Lender in any capacity, without the written Consent of Lender.
Governing Law. This Deed of Trust will be governed by federal law applicable to Lander and, to Bre extenl Cwt preempted by federal
law, the laws of the State of Oregon without regard to its conflicts of law provisions. This Dead of Trust has been accepted by
Lender in the Slate of Oregon.
Choice of Venue. If there is a lar l Grantor agrees upon Lender's request to submit to the jurisdiction of Ne coons of LANE
County, State of Oregon.
No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in
writing and signed by Lender. No delay or omission on Ne pad of Lender in exercising any right Shall operate as a waiver of such
right or any other right. A waiver by Lender of a provision of Nis Deed of Trust shall not prejudice or Constitute a waiver of Lenders
right otherwise to demand strict Compliance with that provision or any other provision of this Deed of Trust, No prior waiver by
Lender, nor any course of dealing between Lender and Grantor, shall Constitute a waiver of any of Lenders rights or of any of
Grantor's obligations as to any future transactions. Whenever Ne consent of LaMar is required under this Dead of Trust, the granting
C such Consent by Lender In any instance shall not constitute continuing consent to subsequent instances where such consent is
required and in all cases such Consent may be granted or withheld in the sole discretion of Lender.
Severabgity. If a could of competent jurisdiction finds any provision of this Deed of Trust W be illegal, invalid, or unenforceable as to
any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If
feasible, the offending provision shall be Considered modified so that it becomes legal, valid and enforceable. If the offending
provision Cannot be so mortified It shall be considered deleted from this Deed of Trust. Unless otherwise required by law, Ne
illegality, trendily, or unenforceability of arty provision of this Deed of Trust shall not affect the legaltly, validity or enforceability of
any other provision of this Deetl of Trust.
Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantors interest, this Deed of Trust
shall be binding upon and inure is the benefit of Ne parties, (heir successors and assigns. If ownership of the Property becomes
vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantors successors with reference to this
Deed of Lust and Ne Indebtedness by way of forbearance or extension without releasing Grantor from Ne obligations of this Deetl of
Trust or liability under the Indebtedness.
Time is of the Essence. Time is of the essence in Ne performance of this Deed of Trust.
Waive Jury. All parties to this Deetl of Trust hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought
by any party against any Cher party.
Waiver of Homestead Exemption. Grantor thereby releases and waives all rights and benefits of the homestead exemption laws C the
State of Oregon as to all Indebtedness seemed by this Deed of Trust.
Commercial Deed of Trust. Grantor agrees with Leader That Nis Deed of Trust is a Commercial deed of trust ani that Grantor will net
Change the use of he Property without Lender's prior written Consent.
DEFINITIONS. The following Capitalized wads and terms shall have the following meanings when used in Nis Deed of Trust. Unless
specifically stated to the contrary, all references b dollar amounts shall mean amounts in lawful money of the United Slates of America.
Words and terms used in the singular shall inctude the plural, and the dural slull include Ne singular, as the tented may require. Words
and lams not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
Beneficiary. The word "Beneficiary' means OREGON PACIFIC BANK, and its successors and assigns.
Borrower. The word "Borrower" means ENOCKSON ENTERPRISES LLC and includes all do signers and co duakers sighing the Note
and all their successors and assigns.
Dead of Trust. The words "Deed of Trust" mean this Dead C Trust among Grantor, Lender, and Trustee, and includes without
limitation all assignment and security interest provisions relating to We Personal Property and Renis.
Default. The word 'Default" means the Default set forth in this Deed of Trust In the section tillad'Defsoult".
Environmental Laws. The words -CcAronmental Laws" mean any and all state, federal ani local statutes, regulations and ordinances
relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980. as amended, 42 U S C Section 9601, at seq. ("CERCLA" ), the Superfund
Amendments and Reauthorization Act of 1986, Pub, L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C.
Section 1801, at W. the Resource Conservation and Recovery Act 42 U.SC Section 6901, at seq., or other applicable sole or
Scandal laws, rules, or regulations adopted pursuant (hereto or intended to protect human health or the envhoomenl.
Event of Default. The words 'Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of
default section of this Dead of Trust.
Grantor. The word "Grantor' means ENOCKSON ENTERPRISES LLC.
Guarantor. The ward "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness
Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all Or pan of
the Note.
Hazardous Substances. The words 'Hazardous Substances" mean materials that. because of their quantity, concentration or
physics, chemical or infectious characteristics, may cause of pose a present or potential hazard to human health or the environment
when imprapedy used, treated, stored, disposed o, generated, manufactured, tormented or otherwise handled. The words
"Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous to toxic
substances, materials as waste as defined by or listed under the Environmental Lewis, The term "Hazardous Substances' also
mdu les, without limitation, petroleum, including Crude W and any fraction thereof and asbestos.
Improvements. The word! 'Improvements' means all existing and future Improvements, buildings. structures, hll homes affixed on
the Real Presets, facilities, additlons, replacements and other Construction an the Real Property.
DEED OF TRUST
(Continued) Page 7
Indebtedness. The word "Indebtedness means the Loan and all other loans and indebtedness of Borrower to Leader, including but
not limited to Lender. payments of insurance or taxes, all amounts Lender pays to protect its interest in the Collateral, overdrafts in
deposit accounts with Leader, and all other Indebtedness, obligations, and liabilities of Borrower to Lender, whether matured or
umnatured, liquidated or unliquidated, direct or indirech absolute or contingent, joint or several, due or to become due, now existing or
hereafter Mixing.
Lentler. The word! 'lender" means OREGON PACIFIC BANK, its successors and assigns.
Nota. The ward "Note" means the promissory note dated August 20, 2020, in the original principal amount of
$121,000.00 from Grantor to Lentler, together with all renewals of, extensions of. modifications of, refinancings of, consolidations
of and sebsltiations for the promissory, able or agreement. The maturity data of the Note is August 20, 2021,
Personal Property. The words "Personal Property" mean all equipment, fixtures, and other empire of perwnal property now or
hereafter owned by Grantor, and now re hereafter attached or affixed to the Real Property; together with all accessions, pads, and
additions to all replacements of, and all substitutions for, any of such property: and together with all proceeds (including without
installed all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property.
Properly. The word "Property" means collectively the Real Property and the Personal Property.
Real Praised, The words "Real Property mean the real property, interests and rights, as further described in this Dead of Trust.
Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
agreements, guaranties, security agreements, mortgages, deeds of trust. security deeds, collateral mortgages, and ell other
instruments, agreements and documents, whether now or hereafter existing. executed in connection with the Indebtedness.
Rants. The word "Rents" means all present and future rents, revenues. income, issues, royalties, Profits, and other benefits derived
from the Property.
Trustee. The wad'Trustee" means CASCADE TITLE COMPANY, whose address is 811 WILLAMETTE ST, EUGENE, OR 97401 and
any substitute a successor trustees.
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND GRANTOR AGREES TO ITS TERMS.
GRANTOR
ENOCKSON ENTERPRISES LLC
MARK B. ENOCKSON, Manager of ENOCKSON ENTERPRISES LLC
r/JLIMITED LIABILITY COMPANY ACKNOWLEDGMENT
STATE OF d� OFFICb1LSTAMP
> TARA ASHLEY MULLER
SS i NOTARY PUBLIC -OREGON
COUNTY OFLAYW )� CO MMISSION N0.973964
Elsa. MY COMMISSION EXPIRES APRIL25,2022
On this 2 • � day of _ 20-Zl before me, the undersigned Notary Public,
personally appeared MARK & ENOCKSON, Manager'df ENOCKSON ENTERPRISES LLC. and known to me to be a member on, designated
agent of the limited liability company that executed the Dead of Trust and acknowledged the Dead of Trust to be the tree and voluntary ad
and deed of the limited liability company, by authority of statute, its articles of aganufadon or its operating agreement, for the uses and
purposes therein mentioned, and on oath staled that he as she is witharized to execute the Deed of Trust and in fact executed the Deed of
Trust an behalf of the campany.
BY 1 Residing at
Notary Public a and for the Slate of F� My commission expires
REQUEST FOR FULL RECONVEYANCE
(To be used only when obligations have been paid in full)
TO Treat.
The undersigned Is the legal owner and holder of all Indebtedness secured by this Deed of Trust, All sums secured by this Deed of Trust
have been fully paid and satisfied. You are hereby directed, upon payment to you of any sums owing to you under the terms of this Deed
of Twat or pursuant to any applicable statute, to cancel the Note secured by this Dead of Trust(which is delivered to you together with
this Deed of Trust), and to reconvey, without warranty, W the parties designated by the terms of this Deed of Trust, the estate now held
by you under this Deed of Trust. Please mail the reconveyance and Related Documents to:
Beneficary:
BY:
led
Lase ro. Ver. 19.1.0.048 Cop, Flamers USA Corporation 1997, 2020. All Rights Reserved. - OR CNCFNLPL1301.FC TR -14692
PR -1