HomeMy WebLinkAboutApplication APPLICANT 10/20/2010
~< of 5p,f",""d ·
Development Services Department
225 Fifth Street.
Springfield, OR 97477
Minimum Development Standards
.
. -.
A licant Name: f/1.
Com an: N W C dptl
Address: 275~ NE '15 +J f/.
.;':....."'.
Fax:
SeA#u WA 8Jo~
Phone: S 77 - if 30tj
A
Address:
Fax:
Ore &ft404
','9';;;';,j~r.)""~"'.:' ,:''''}1;1:;'':'.",/-:''._,:'",<;,'' >.<",~"'..~;;'-'" ""i'r-,~ .""SW j,' __""'.
,...-.,.'.'-""....-.,;'.-"'..-"..;
"_h
Owner:
Phone: 2.0& - 6:1-5- 9 ~ ~"3
Com an : p.W.
Address: 2"15"
~ .~~
.J..../ (or
jV.E. Ljt)+b 11.
)/IJ/'/:-(, lor.
oS
,'",',' .
- ~.'
,- ':
.
E 15"; 13'
TAX LOT NO S 7..00 I e '2-IO;L.
GIA -I w#\
. -Pi . Acres 0 S uare Feet ~
",' ,x,' "',,") H" -f' "." .;~_ ' .'
ASSESSOR'S MAP NO: 17-03-2-'2--2.0
Pro ert Address: '3.?- 7 DC' ~ ;t6G
'l"', ,-.,_,-..- 7''<.~' ':;',<< -,<'.:..
Description of If you are filling in this form by hand, please attach your proposal description to this application.
Pro osal: S~~ IJtiffl^i-l/ve 0.... ~l..,t~ ?lilt-I"/.-
. ...
Associated Cases:
Case No.:
10
'6
Date:
Reviewed b :
A lication Fee:
Technical Fee:
3<:;'.Jo
o
-- -:",." ii..~'1?'5+;."ih'F;\:~~',.;.
o
PROJECT NUMBER: -
TOTAL FEES:
;k,~ '. ,~l(-..,'_...j._,~:t'<"':.&<'t;l'~<;.:,,'Ri:J:dJ(.;i.E'f?S'T:;,n~j.t;;;;:L"'~.::niJifi't':,0!'J.Sl'W''''.~;'-\4 '.i~"'P:~tteI:->i.>~j,~bal,"'"i.l"-'!.hj3:'!'.::-,,'It"::','~:
~'.'
Date Received:
OCT 2 0 2010
Original Submittal
Revised 1/1/08 Molly Markarian
1 of 6
.
..
Signatures
The undersigned acknowledges that the information in this application is correct and accurate.
Applicant:
Date:
Signature
"
Print
. ,
1.,....l
If the applicant is not the owner/ the owner hereby grants permission for the applicantto act il1 his/her behalf.
.. . , . .'. .
Owner:
K
.Date:
Signature
.'
'.....
, ,,'
Print
__..__ '___.n~_._ ......_._.._____~
',....." l r. ~ I , '.' l' ~l
Plot Plan
Preparation:
I certify that I prepared the'attachedcplot plan and that it contains the information specified in the submittal
requirements checklist. I certify that the plot plan is accurate'9ase9 upon field 'ocates'an~.the best
available information. I understand that City staff.will rely upon the plot plan in making any decisions
,regarding the Minimum DevelopmentStandards-application. I accept full responsioi1ity and liability in the
I event that there are any omissions, mistakes, - or inaccuracies In the plot plan. . . . -. -' ~
'.
Date:
.
Plot Plan Preparer Signature
.
Print
'.
",
.' .
" ,
"
Revised 1/1/08 Molly Markarian
.~
2 of 6
Oct 18 10 01:11p
p.1
.
.
Signatures
tth7infuf ation in this application is correct and accurate,
. Oate:.L:o--/O"uc:'/' 6
S gnature
;t1410/L If1@QJJ4U)
Print
if rhe appUcant Is not the owner r.er hereby grants pennission for the applicant to act in hls/ller behalf.
Owner: _/_
N::::-- Date: /0 - /cP ,2 0/ 0
ignature
ftJ4v!c: 111.cl--lfJif'I/fe.J)
Print
I certify that [ prepared the attached plot plan and ttlat it ::ontains the lnrormatior. specifi-ed in the submittal
re-quirements checklist. I certify that the plot plan is accurate based upon field locates and the best
available fnformatron. ! l,.:naersrend that City staff will rely upon the plot plan in making any decisions
regarditlQ the Minim Development Standards application. I aLcept full responsibiHty and liability in the
event that there e any missions, mistakes, or Inaccuracies in the plot plan.
~6
Date:
/0-20-} 0
Plot Plan
Preparation:
Plot PI n Preparer Signature
Paul
Print
J;/;I c-II/t I-JY'~
Date Received:
OCT 2 0 2010
Original Submittal
Revised 1/ l/OS Molly M('Jrkarian
2of6
.
.
L'; ,
.,
,.J
.,'
ii
.
.
, "
'.
Minimum Development Standards Application Process
As stated in SDC 5.15-100, the minimum development standards (MDS) process is intended to support
economic development by minimizing City review for minor additions, expansions, or chang~s in use as
specified in SDC 5.15-100. MDS ensures that such development, however, complies with specific
appearance, transportation, safety and efficiency, and stormwater management standards specified in the
SDC and otherwise protects the public health, safety and welfare.
1. Applicant Submits a Minimum Development'Standards Application to the
Development ServiCes Department
. The application must conform to the Minimum Development Standards Submittal
Requirements Checklist on pages 4-5 of this application packet.
. Planning Division staff screen the submittal at the front counter to determine
whether all required items listed in the Minimum Development Standards Submittal
Requirements Checklist have been submitted. .
. Applications missing required items will not be accepted for submittal.
2. City Staff Conduct Detailed Completeness Check
. Planning Division staff conducts a detailed completeness check within 30 days of
submittal.
.
The assigned Planner notifies the applicant in writing regarding the completeness of
the application.
An application is not be deemed technically complete until all information necessary
to evaluate the proposed development, its impacts, and its compliance with the
provisions of the Springfield Development Code and other applicable codes and
statutes have been provided.
Incomplete applications, as well as insufficient or unclear data, will delay the
application review process and may result in denial.
.
,
.
3. City Staff Review the Application and Issue a Decision
. This is a Type I decision and thus is made without public notice and without a public
hearing since there are clear and objective approval criteria and/or development
standards that do not require the use of discretion.
. Decisions address all the applicable approval criteria and/or deveiopment standards.
. Applications may be approved, approved with conditions, or denied.
. The City mails the applicant and any party of standing a copy of the decision, which
is effective on the day it is mailed.
. The decision issued is the final decision of the City and may not be appealed.
Date Received:
OCT 2 0 2010
. ,
Original Submittal
II
, "
Revised 1/1/08 Molly Markarian
3 of 6
.
, j
'h ~
"
\,
~.
..
Minimum Development Standards Submitta,1 Requirements Checklist
NOTE: If you feel an item does not apply, please state the reason why and attach the
explanation to this form,
o
o
o
o
rJ(A 0
M
?
())'
Application Fee - refer to the Development Code Fee Schedule for the appropriate fee
calculation formula. A copy of the fee schedule is available at the Development Services
Department. Any applicable application, technology, and postage fees are collected at the
pre-submittal and submittal stages,
Minimum Development Standards Application Form
Copy of the Deed
Copy of a Preliminary Title Report issued within the past 30 days documenting
ownership and listing all encumbrances.
Right-of-Way Approach Permit Application provided where the property has frontage
on an Oregon Department of Transportation (ODOT) facility, '
Detailed Written Explanation of the Proposal to Include: 0/1 ~
[] Project name SeL /J",,,.;f,vG 0"'- s,-/<. P(-- /)-"1,J
1]1 Size and location of property
~ Zoning and plan designation of the site and adjacent properties
I:tI Proposed use of the development area and scope of proposed development
~ Access
IJ!A 0 Proposed off-site improvements (i.e, installation of sidewalks, fire hydrants, sewer
main, etc.)
~ Current use of the site and any existing improvements
N!Pt 0 Special site features (i.e, wetlands, watercourses, steep slopes, etc.); a general'
statement addressing soil type and drainage conditions
/fJ!,. 0 Estimated quantities and type of materials involved if any fill or excavation is proposed
.N/~ 0 Number, type, and size of any trees to be removed
IV/A 0 Explanation of any land to be dedicated to the City
~ Proposed modifications being requested
~ Additional planning applications required for proposed project
? 0 Justification for proposed MDS exceptions
o Time line extensions being requested
Five (5) Copies of a Plot Plan Including the Following Information:
~ Proposed buildings and/or additions: location, dimensions, size (gross floor area),
setbacks from property lines, distance between buildings, and height
[:g-The scale appropriate to the area involved and sufficient to show detail of the plan and
related data, such as 1" = 30', 1" = 50' or 1" = 100'
~ North arrow
~ Date of preparation
o All existing and proposed easements
Revised 1/1/08 Molly Markarian
Date Received:
OCT 2 0 2010
Original Submittal
4 of 6
-
I,
,-,
:::.
~, "
.'
.
.
~ Location of proposed or existing fences, outdoor equipment, storage, trash receptacles,
and signs
~ Location, dimensions and number of typical, compact and disabled parking spaces;
including aisles, landscaped areas, wheel bumpers, directional signs and striping
~ On-site loading areas and vehicular and pedestrian circuiation
o Access to streets, alleys and properties to be served, including the location and
dimensions of existing and proposed curb cuts and curb cuts proposed to be closed
fJ{ A D Location of street iighting
~ Location, type and number of bicycle parking spaces
J2g Existing and proposed iandscaping
J8:] Connections to public utilities
Z'I Copy of the Plot Plan reduced to 8'12' by 11" when fuli-sized plans are submitted above
I ~ . ~ :., I"
Date Received:
OCT 2 0 2010
Original Submittal_____.____
Revised 1/1/08 Molly Markarian
5 of 6
~
'5
--'6,
B
J)
t
~
%-
\\)'
a
g
f
'2-
f
'$1 0-
z-" 'C
j)
--
~ .)
Q) :t
] j
z
5
,0-
I-:::.-
uJ
...-.J
0-
"d::
<J5 '~
~ll
~}~
J)cCH
I
, '3
Qa
oJ
~ ,['
, " '"
g>lc.. 1f'- ~ 8 ,
} 1 ~ ~ j j j!
Revised 1/1/08 Molly Markarian
.
... '. " '. ,
,
o
o
~0
'"
'0
o
0,
'ti>~
0:1;
J,~
'~
yc
t;J
\JJ
'X"
~
:z
~
.~
{I
'j
'3
....<:9
'" 'f'
"J"-
o .
.... '-
~~
" ,
" ,
133'tl'.LS ,\\,OS '
Date Received:
OCT 2 0 2010
Original Submittal
..
- 't~
.
y
,.,.
~
,sb
I
'Ii...... 1
o '1~
S! ~~
I
I
j
I
"
j
I
'.9
'/
V
,.1:'
, ~
1,111
Vi .:;;....3
,D~n
,"
J
f'
'~
~
~ '
'.) e ~
~ ..-r 'if)
, -\' ~ '
p l ~ {11
1 r:~ j ~~,
'l'r6~~tl
~~::..
6 of 6
.
~
~
~
ElUILDItiJ ()IE
3210 GATEUlI\Y ST.
5F'RllGlao, ~
+
~P00 &q. n.
ALL REf AlL
(tl5IDE~
t
@ @
MIlIoT
~ t
@
lil
!i1
t
1
! ..... ..... !
. .
I-~-~-~-~-~-~-~
.... .... .
. e 0d04'00' E 1&1.95' .
(J>
~.
~
,.;.
~
m.
..
..
&.
~
~
~
+ + +
rr-~-:J c::c,<fl+
" rI
I) J)
:' 1-1
LY~c=:e-'dt1
+
J
+
+
. ,
(J>!
~!
....
~I
&:
';;1
liil
~:
-I
~ @
~
~
~
~
~
EXIST'G REf AIL
3)00 &q. n.
(N5I1lE~
~ ..00
~ @
~
1
:. '5
I '&
lJ:.._.._.._.._.._..=.J -
N 00<:104'00' W 18.06' .
~
~ ~
@ ~
@ ~
@ I (J>
@ R <1!>
----'! : ~
@ ~ - .,.;
.&
I: ~
N 0tDdtD4IlZ'0a W 98.89'
I
CD ~1!! J:!;~~CdI"
.
I
I
I
I
I
I
I
I
I
I
I
I
I
""
'"
....
r-
'"C
'"
~
~
n
'"
'"
'"
t:I
'"
iil
S
I
I
I
I
I
I
I
I
I
I
, I
,
"
" , I
I
/
1
~. @
~ @
~ @
: : i~
~ : Ii
~ ~j
'--.! ~ ~
~ @ ~<P
: : i;
~~lll
-~~
~ Il\l
~ <r!
\... 1
~r
~
~
~
~
~
~
~
ate ~eceived:
EXI5TINc:. COMMERCIAL 6UILDING.5 OCT 2 0 20ta
3210 .3266 GATEWAY 5TREET
5FRINc::.FIELD, OREc::.oN Original Submittal
11-03-22-20 Lot 2fDfDI . 2102 r
LANDU5E ZONE, CC = COMMUNITY COMMERCIAL
.
.
Fidelity National Title Company of Oregon
I Transmittal Sheet I
DATE:
OCTOBER 20,2010
TO:
NW Capital Corp.
2756 NE 45th Street
Seattle WA 98105
FROM:
PATTY SMITH
RE:
LIEN REPORT
ORDER NO.:461 00 18086
Message
Note: Please send any documents for recording to the following address:
Fidelity National Tille Company
Attention: Recording Department
800 Willamette St., Ste. 500
Eugene, OR. 97401
Please find attached the Lien and Encumbrance, regarding the above entitled matter. If you should have
any questions, please feel free to call me at 503-315-2000.
Thank you for your business!
PARK 5 BUSINESS CENTER" 200 HAWTHORNE AVENUE, SUlTEA-IOO" SALEM, OR 97301
(866) 923-7757" FAX (503) 315-2012
Date Received:
OCT 2 0 2010
Original Submittal
.
.
Fidelity National Title Company of Oregon
LIEN AND ENCUMBRANCE REPORT
Date: .
Order No.:
Charge:
October 20, 2010
4610018086
$85.00
Effective Date:
October 18, 2010
Owner:
Springfield V, LLC, a Washington Limited Liability Co.
As disclosed by: WARRANTY DEED, recorded October 8, 1999 Reception No. 99085727
(a) Legal Description:
PARCEL I: Beginning at a Point 220.00 feet North 890 40' 20" East ofthe Southeast comer ofthe
A. C. Stevens Donation Land Claim No. 45, Township 17 South, Range 3 West of the Willamette
Meridian; and run thence North 00 04' West 151.95 feet; thence North 890 45' 20" East 95.80 feet;
thence South 00 04' East 73.85 feet; thence North 89049' 20" East 18.00 feet; thence South 00 04'
East 78.06 feet; thence South 890 49' 20" West 113.80 feet to the Point of Beginning, in Lane
County, Oregon.
PARCEL II: A parcel of land lying in the Northwest quarter of Section 22, Township 17 South,
Range 3 West of the Willamette Meridian, more particularly described as follows: Beginning at
the Soutbeast comer of the A.C. Stevens Donation Land Claim No. 45, Township 17 Soutb, Range
3 West oftbe Willamette Meridian; and run thence Nortb 00 04' West, along the East line tbereof,
151.69 feet; thence Nortb 89045' 20" East 220.00 feet; thence South 0004' East 151.95 feet; thence
South 89049' 20" West 220.00 feet to the Point of Beginning, in Lane County, Oregon.
(b) Address:
3266 and 3270 Gateway St
Springfield, Oregon 97477
Date Received:
OCT 2 0 2010
Original Submittal
.
.
Page No.2
Lien & Encumbrance Report
Order No. 46]00]8086
(c) Monetary liens affecting the Premises as of the effective date herein:
1. A deed oftrust to secure an indebtedness in the amount shown below,
Amount: $],250,000.00
Dated: June 25, 2009
Trustor/Grantor: Springfield V, LLC, a Washington Limited Liability Co.
Trustee: Western Title and Escrow Company
Beneficiary: Foundation Bank
Recording Date: June 30, 2009
Recording No: 2009-036457
2. An assignment of all moneys due, or to become due as rental or otherwise from said
Land, to secure payment of an indebtedness, shown below and upon the terms and
conditions therein
Amount: $],250,000.00
. Assigned to: Foundation Bank
Assigned By: Springfield V, LLC, a Washington Limited Liability Co.
Recording Date: June 30, 2009
Recording No: 2009-036458
Date Received:
OCT 2 0 2010
Original Submittal
.
.
Page No.3
Lien & Encumbrance Report
Order No. 4610018086
NOTE A:
AMOUNT:
MAP NO.
ACCOUNT
CODE
2010-2011 TAXES
$8,939.83 DUE
: 17-03-22-20-02001
:1441813
:01900
NOTE B:
AMOUNT:
MAP NO.
ACCOUNT.
CODE.
2010-2011 TAXES
$10,631.42 DUE
: 17-03-22-20-02102
:1226511
:01900
NOTE C: YOU WILL BE REVIEWING, APPROVING AND SIGNING IMPORTANT
DOCUMENTS AT CLOSING. LEGAL CONSEQUENCES FOLLOW FROM THE SELECTION AND
USE OF THESE DOCUMENTS. THESE CONSEQUENCES AFFECT YOUR RIGHTS AND
OBLIGATIONS. YOU MAY CONSULT AN ATTORNEY ABOUT THESE DOCUMENTS. YOU
SHOULD CONSULT AN ATTORNEY IF YOU HAVE QUESTIONS OR CONCERNS ABOUT THE
TRANSACTION OR ABOUT THE DOCUMENTS. IF YOU WISH TO REVIEW TRANSACTION
DOCUMENTS THAT YOU HAVE NOT YET SEEN, PLEASE CONTACT THE ESCROW AGENT.
NOTE D: We find no judgments or tax liens on Springfield V, LLC
THIS IS NOT A TITLE REPORT: This is an informational report only. It is not title insurance nor a
guarantee. This service does not include supplemental reports or any other information. Liability is
limited to the amount paid for this report.
Thank you for doing business with FIDELITY NATIONAL TITLE INSURANCE COMPANY OF
OREGON. If you have any questions, please feel free to contact our office at (503) 315-2000.
FIDELITY NATIONAL TITLE INSURANCE
COMPANY OF OREGON
Patty Smith
Date Received'Title Officer
OCT 2 0 2010
Original Submittal
.
.
Document 1 of 1
Order:
F4610-18086 ==
10 - 8
99
2597
INDlVIDUAL WARRANTY DEED
HPT 1SHS7
10.51353
l~' .
I,J
vT
TAX ACCT. NO. :<1.41813 ~226S11
99085727
y~p ~. ~7 03 22 2a 2DOi 17 OJ 22 20 2102
TROY A. FINFROCK, Grantor,
conveys &na warrants to
I A WP.SHINGTON LIMITED LIABILITY CO.
SPRINGFIELD V, LLC, Grantee,
:r.e follo~ing desc~ibed rea: property situated in LANE Cou~~y, OR, free c~
encumbrances except as specifically set forth hereb., to-w.:.c,
SEE EXHIBiT A '~rlICF. IS ~U\DE A PART HEREOF BY THIS REFERE~CE
This conveya~ce is $ubject to and excepts:
R:GHTS OF THE PUB~IC I~ STREETS, RO~S ~ HIGHWAYS. COVENANTS, CCNDITIONS,
RESTRICTIONS, RESERVATIONS. EASEMENTS OF RECORD AND 1999-2000 RE^L PRO?E~TY
TAX~S, A ~IEN NOT YET PAYABLE.
~~~:mCT . OS' 99ltOlREC : ':. ):"
.!:2~OCT .DB' 991101f'FlIN~ JC.t,-
!2~roCT ,Da"99UOlAt.l Fi.!:m :~l,(iJ
The true considera..io:l for this conveyance is * ~a20 1000.00. "Consideration is to a
qualified intermediary pursuant to an IRe 1031 Exchange."
THI S INSTRUMENT WH,t. NOT ALLOW OSE OP THE PROPERTY DESCRIBED IN THIS INSTRUMENT
IN VIOLATION OP APPLICABLE LAND USB LAWS AND REGQLATIONS. BEFORE SIGNING OR
ACCEPTING THIS INSTRUMENT, THE PERSON ]l.CQO'lRINQ FEE TITLE TO THE PROPERTY
SHOULD CHECK.WITH THB APPROPRLATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY
APPROVED USES AND TO DETERMINE AJfY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST
PRACTICES AS DEFINED IN ORS 30.930.
lOS.
Cou;;ty 0::' . Lane
:-his i:1str...lI:u:mt 10111.5 acimowledged before me 00
by Troy A. Finfrock
10- ~
19~
Oreaon
(I) '. cr~";C.t.l.SEAL
. Bf;:ERlVIFISER
, II!)TARYPUaLlC.OR~CON
COMIIiISSIOHNO.324ll38'
ITClbtSSIOIlD1\llf5_2a.2U13
lJtttil a cr.ar:ge. is requested, all tax statements shall be sen.t to tl;o;: following
address,
1420 FIE'TH I\VE., STE 2200, SE;ATl'lE, WA 98101
A:ter .ecorains re=urn ~o:
~Iesterr. Pic:1eer Title ::::0., ? C. 30x 10146, Eugene, OR 97440
",\,-
$'-
Anthony Smith
Print Job Page 1
Page 1 of 2
Date Received:
OCT 2 0 2010
Original Submittal
10/20/2010
.Document 1 of 1
.
Order:
F4610-18086
10 - 8
99
2597
99085727
E:XHIBIT "A"
~A.~C::i. ::
A parc~l of lan2 lyi~g in tr.e Northwest q~arter of S~ction 22, Tow~shi~ 17
South, Range) West of the Wi11amette Mer~dian, being descri~~d ae fo:lo~s:
Beginning at the Southeast co~ner ot the A. C. Stevens Donation Land C1ai~
NO. 45, in Township 17 South, Range 3 West of the Willamette Me~idian; and run
thence ~orth 00 C4' West ~lon9 the East line the~eof, 151.6S feet; thence
North 8go 45' 20" East, 220.00 feet; thence South Do 04' East, :51.95 feet;
thence South (190 49' 20" ;..est, 220.00 feet to the Sloint or Begir.ning. i:1 :'ane
County, Orl:gon.
PMCE:L II:
Beginning at a poi:1t 220.00 feet North 890 40' 20" East of the Southeast
corner of the A. C. Stevens Donation Land Claim No. 45, 7owr.ship 17 SO;Jt.r:,
Range J,West, ~illamette Meridian; and run thence North 00 ~4' West. 15:.95
feet; thence Korth 1390 45' 20" East 9S.eQ ::eet; :hence Sout~ 00 04' Eas:. ".'3.B3
feet; thence North 890 49' 20. East 18.00 feet; :.hence So~t.h o~ O~, Ea~t. 7a.OS
feet; thence South 89" 49' 20. ~lest 113.60 feet to the ~oir.!: cf Beginnir.g, i:1
Lane County, Oregon.
PARCEL III:
A non-exc~usive e~sement for pedestrian and vehicular access as sat :ort.n ~r.
instrume~t recorded July 7, 1989, Recept.io~ ~o. 89-29548. ana correc~ed by
inst!'urr.an: recorded Cecell'ber 20, 1994, Receptic:l No. 94~867G2. :>fficial.
Records of Lane County. Oregon. over t.he follOWing described prop~rty:
Beginn~r.g at a point on t.he West line of the ~i~liam Steve~s ~on4cion Land
Claim No. 46, Township 17 South, Range J West of the Wi11ametee Meridian.
1498.38 feet Sout~ 00 04' East fro~ the Northwest. corner of said Clain "0. ~6;
thence South 00 04' East 60.00 feet along said West line; :he~ce Nort.h 890 ~9'
20. East 415.70 feet to the Westerly right of way line of Gateway Street as
said street is described by instrument recorded July 16, 1969, Keception Kc.
73410. Official Recorda of Lane County, Oregon; thence along :;:;he ~esterly
right of way line of said Gateway Street, No:!"th 00 04' West 6.0 00 feet to a
point which bears North 890 45' 20" East from the Po:.nt of Beg r:ning; tr.ence
South aSlo 45' 20" ....est 415.70 feet to the Poir.t of Beg:.nnin9. :'l !..a:'le County,
:Jregon.
State of On:gGA
CGUtlty 01 Lane - 55.
I. IN CounlY Oel\!.. in and for the said
County, do hflRbo,i telUfylhal lllew'lhio
insllUm.ent_~lece;vedlg.{etOfdlll
'~~SOCl SF 2;3!
1<<<,
2597R
Lane County OFFICIAL ROJtor<k
Lan"Counlyo..k
By,
af A .-J.,f.)l
County a~rk
Anthony Smith
:i-:-:
Print Job Page 2
.
Page 2 of 2
Date Received:
OCT 2 0 2010
Original Submittal
10/20/2010
~,,~ 3200 · ...~& - - n ,
I .. ", ~
'W"\, ~....
"og.....,..,. E " 1"~~ ~
311 . t I ,~, ~..... ,.
THIS MAP IS FURNISHED AS A CONVENIENCE BY MID-W1LLAMETTE VALLEY Hftw~ive IS
. This sketch is made solely for the purpose of assisting in locating said prerrises ancnl'T ? 0 'OlD-$-
the COflllany assumes no liability for variations, if any, in dimensions and location ascertained by':l/:Mal\urv<!y
.
.
~-
~~
~. /"
~/
.-'
....
\.
~
~
-::..
--
~~
"'''
::-':'l-
.Ii
~
.~
.
"
,
~.
~t
i
~ 1900
J. 11M:;.
""".~I'n"~
..."
1700
6.23 />C.
......
......
2000
6.06 M:;.
~
.l..
~-:-
. ,
.~
.,
\
I
..........
"'...
-
-QUO
........
~
(() 19 =(()(()
----......
-...... ......
'1181"
l
S.E. COR. _
A. STEVENS 2001 + 2102
(A. LANDESSl ~o.n M:;. i~'..
D.Le. 45 l; ~ ~ JJr"
.;.,,' ~ ,V
'" . . .., AI''*ftr
-:;~B!) - ~ 2300 u~,.,
2413"1 ~r
""'~.z 1 4o"f!"!
..~.
2403 II 2402 ; 2414 --n'
tJ", I )"0.63 N;.
. I r.;
~, ~
I, J
II'
2409
''':1,11
~
;.I'!
. ..
I!:
.. .
.
s, ..
... f~;(!) :;;::- -,' I
:r . ~ 2408 "
~:2411 ,.
. & Ii ~
l
..-....
t...- .....
2604
~
~
~
.
,
.~
1:
~ ..
.
"
~
>L~'
.......
..
..
!
'w ..
"7'5..41' I!IfIII 2
... "-.tJI".I#":f_r:""-
373.37'
'.'T'''''''
.t~'." .,.
:' 1'1 IU >!( I~-:',:,,~'Z
.... ,,'_'-"'L .-..,.,.., j '-'i "
! l;'a: 2607 Q'.. 2605 . ~ i~" 2802
,a ~ - . ,ca. ~ I :."
.lir.lll! r:,v - _'\
I 110'" ,.... 4 ~
~ ~oa.
........ - _ _JJ,.f4....-W
-,,&.4I~- -
300
LAC,
lOT
..
j
,
.... _JI"6_"'~'
I 5'
Ikw'
MAP # 17 03 22 20 02102 000
Original Submittal
,
.
"
Ur"
3100
H"-sa~
.....-
:I
!
905
1.01 />C
-4
... ocI
2200
i6e&
tI~rr" q'
"""$"",,,,,,,,;,-
.A.. ,~~ ''/'
I
0,
C~~11.tfi~[1
FOR ASSESSME'1T
AND TAXATION
ONLY
"
"
o
~
~
e:t ~...........
.
;:..... ..........
'"
;:-.......~~
,
1
:........."
-.
LANE
,-~ SCH..E 1" - 2DO' eA
'''''''.1 _..: , -<..\O"'\Vf(r:P
~--.;...: s0\~ 9
!I'" ~f-.:\,\-,j>.
'-
"
';;;:
"
"
\.
,
004-23
I
"'C'De
,~.
~
--',
~"E:-?;"
I_
I
I
I
I
I
I
<:)
c.~ I
" ,
I
I
!
I
I
I
t4x LOTiED 0fI I
&lAPI7-m_n_I_] I
004-62 :
I
I
I
I
I
I
I
I
I
I
I
I
.......-_~DO
~(Y ",Iv
'?'-" y"rf'
'" -.),'\v
-~
~~:.
"'<:)
ty'
"
,<,")
iV'
",'.I
,'".
-"< '
"""I
I
,
i
I
I
u.....r....-'
1
I
I
-------,-------
I
1
004-23
i
.
:
,
i
,
f
,
I
,
~
I'\-"""
r~'
I~
.;Ii I
f I
I I
_l_________-+_____
I
"'"
i Idr~
,I
j I
.)..
~
/!:
<l
'"
i
I
.lj
~
"
---i
SEEw,o.p171J;5~
Date Received:
OCT 2 0 2010
Original Submittal
17 03 22 :2
NAIl 83/91
~
~
'ro
.~
,~
~
"ro
.-
~"
;;::::
=
-
-
=
~
.-
=
-
~
M'
~
~
~
-
-
-
-
'"
,~
,~
..
..
".
~
8
~
~
~
~
~
8
~
~
~
17 03 22 2
. FOR ASS:.SSMENT
ANC TAXAT ON
ONLY
N
~
"
.
~
!l
m
,---- Ba.:r-i::!NE---RGAB-_____
I .
~.. .. ,;,t <6). : fi2._~.!"
I - ---, "" ". ""'-.0
f'(L' '<:So '" ~i
I: "', lJ
I--h- ~ ~, :'
G[1' ~. \~~
2: "', "
~ ~Ei.i': "'''''''
I'Cl... J '\, "
, ,
1? . "" ~. "'" ""
'if" " "',
, ,
, ,
\\. ',,2.tIl~
1~1IC.s.'\ "
, ,
, ,
'\ "',
.1/4 SEC.20, T.17S. R.3 W.W.M.
DETAIL MAP NO. 1
lANE COUNTY
:SCH..[ ,~ - 100'
SEE MAP 1703 22 2
"""
~.~
...., ~<I>o
. ~:JF' Cll4-23
.1ii)'\\
L.ltL1AIL<
"'... .--..
...... ..........
...,0,.. ...........
{'URYr -"'HII'"
Iter ::R.O::"
I
-----1:
"""'''''
004~78
~'t@
~'@
<D'iJ;
, "
""" .
~./f; ,,:
'....,." ..
fI'- 1.;
...... :
~ ...:
,,1G :. ~
" .....
~f
~ .
O~9=OO
'.... ... ~r \".....
.J/..fII" ... "':1
~. "',
...R.:'l ""... ',1l.71AC.ll.
eeello "~\''''... '\
11.~t~~ "\.
I ~ ~
'\"\
",
..0.,
P' "
.1.- '\"'"
.'
SEE MAP 17 OJ 22. 2
00....2
Date Received:
OCT 2 0 2010
Original Submittal
17 03 22 2
DETAIL MAP NO. 1
HAD 27
""'""
-
-
-
n~
.
~
a
.
~
~
.
17 03 22 2
DETAIL MAP NO.
Document 1 of 2
.
?5HQIV
Order: F4610-18086
.
Page 1 of 1
~
RECORDATION REQUESTED BY:
FOUNDATION BANK
MalnOfllctt
1110 -112th Avetlue NE, Suite 200
8ellevue, WA 98004
----~-----
Dlvlalon 0' Chi.' Deput.y Clerk ~ ^,~J:O
Lane Count.y Deeds and Records 'UU:"U~vg
WHEN RECOROEO MAIL TO:
FOUNDATION BANK
1110 1121h Avenue NE, Sune 200
8eUevue, WA 9.!I004
f~'her Recording'Return To:
Western Title & Escrow Company
497 Oakway Rd Suite 340, Eugene OR 97401
1111I1111I111111I111I1111111111111111I11111111111 $41,00
0108419520090e364580040046
06/30/2009 11 :44:29 AM
RPR-ASN CnI=1 51"=8 CASNIER 02
S2O,OO SIO,oo Sl1,OO
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONlY
ASSIGNMENT OF RENTS
THiS ASSIGNMENT OF RENTS dated June 25, 2009, is made and executed between SPRINGFIELD V, LLC, a
Washington limjted liability Company, who acquired tiUe as SPRINGFIELD V, LLC, a Washington limited
liability Co. whose address is 2756 NE 45th Street, Suite #104, Seattle, WA 98105 (referred to below as
"Grantor") and FOUNDATION BANK, whose address is 1110 - 112th Avenue NE, Suite 200, BeJlevue, WA 98004
(referred to below as "Lender").
ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest In, and
conveys to lender all of Grantor's right, tiUe, and interest in and to the Rents from the following described
Property located in Lane County, State of Oregon:
PARCEL I:
A PARCEL OF LAND LYING IN THE NORTHWEST QUARTER QF SECTION 22. TOWNSHIP 17 SOUTH, RANGE
3 WEST OF THE WILLAMETTE MERIOIAN, BEING DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE A. C, STEVENS OONATlON LAND CLAIM NO. 45, IN
TOWNSHIP 17 SOUTH, RANGE 3 WEST OF TliE WILlAMETTE MERIDIAN; AND RUN THENCE NORTH 00 04'
WEST ALONG TliE EAST LINE THEREOF, 151.69 FEET; THENCE NORTH 890 45' 20" EAST 220.00 FEET;
THENCE SOUTH 0004' EAST 151.95 FEET; THENCE SOUTH 89" 49' 20" WEST 220.00 FEET TO THE POINT OF
BEGINNING, IN LANE COUNTY, OREGON.
PARCEL II:
BEGINNING AT A POINT 220,00 FEET NORTH 89" 40' 20" EAST OF THE SOUTHEAST CORNER OF THE A, C~
STEVENS DONATION LAND CLAIM NO. 45, TOWNSHIP 17 SOUTH, RANGE 3 WEST, WllLAMETIE
MERIDIAN; AND RUN THENCE NORTH 00 04' WEST 151.95 FEET: THENCE NORTH 890 45' 20" EAST 95,80
FEET; THENCE SOUTH 0' 04' EAST 73.89 FEET; THENCE NORTH 89' 49' 20" EAST 18.00 FEET; THENCE
SOUTH ()> 04' EAST 78.06 FEET; THENCE SOUTH 89' 49' 20" WEST 113.80 FEET TO THE POINT OF
BEGINNING, IN LANE COUNTY, OREGON.
The Property or its address is commonly knOwn as 3266 and 3270 Gateway Street, Springfield, OR 97477, The
Property tax identification number Is 1226511, Code 01900 and 1441813, Code 01900.
THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALl OBLIGATIONS
OF BORROWER AND GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RB.ATED DOCUMENTS. nas ASSIGNMENT IS GIVEN
AND ACCEPTED ON THE F0l1.0WING TERMS:
GRANTOR'S WAIVERS. GranIer waives all rights or defel'1ses arising by reason of any "one ac~on" or "anli-deficiancy" law, or any olher law which
may prevent Lender from bringing any aclion aga;nsl Granlor. including a claim lor deficiency 10 the eldent lender is olhelwiw en@ad 10 a claim for
deficiency. belore or after Lender's commencement or comple60n of any foreclosure acfion, either judicially or by exll1cise of a power or sale.
BORROWER'S WAIVERS AND RESPONSIBlUllES. Lender need flol1ell BorfOwer aboul any action or inaction Lender lakes in connec~on with this
Assignment. Borrower assumes lhe responsibility for being and keeping informed aboul the Properly. Borrower waives any delens.as 'hat may arise
because of any aclion or Inaction of Lender, inclUding withoutlimilation any failure of Lender 10 realize upon the Property. or any delay by Lenclar in
realizing upon Ihe Propetfy. Borrower agrees. 10 remain liable under Ihe Note with lender no matter whal action Lender lakes or fails to lake under this
Assignment.
PAYMENT AND PERFORMANCE. Excepl as olherwise prcMdect in this Assignment or any Related Documents, Granlor shall pay 10 Lender all
amounts secured by Ihis Assignment as they becoma dUll, and shall strictly pertorm all of Granlor's obligations under this Assignment. Unless and until
lander exercises Its right 10 coUecll11e Rents as provided below and so long as lhere is no default under lhis Assignment, Grantor may remain in
possession and control of and operate and manage the Property and collect 'he Rents, provided thai the granting of too righl to collect the Rents shall
not constiltJle Lender's consenllo the usa of cash colalerallj a bankruptcy proceeding.
GRANTOR'S REPRESENTATIONS AND WARRANTIES. G~ntor warranls thaI,
Ownership. Grantor is entitled to receive lhe Rents free and clear or aU rights,loans, ~ens, encumbrances, and daims excepl as disclosed to and
accepted by Lender in writing. I
Right to AssIgn. Grantor has Ihe fuU righi, power aM authority to enler into lhis Assignmenl and 10 assign and COnvey the Rents to lender.
No Prior AssIgnment. Granlor has not previously assiQn.ad or conveyed the Rents 10 any other parson by any instrumenl flOW in force.
. ,
No Further Transfer. Granlor win nol sell, aSSIgn, encumber, or othefwise dispose 01 any of Grantor's rights in the Rents except as provided in
lhisAssignmenl. J
LENDER'S RIGHT TO RECEIVE AND COUECT RENTS. lender shall have \he right at any lime, and even lhough no defaull shall have occurred
under this Assigmnenl, 10 collecl end receive Ihe Rents. For Ihis purpose, lander is hereby given and granted the following rights, powers and
authority:
Nollce to Terumts. lender may send nollcas to any and all tenanls ollhe Property advising them of thfs Assignment and direc~ng all Rents 10 be
paid direcUy to Lender or Lender's agent.
Enler Itle Property. lender may entO( upon and lake possession ai/he Property; demarn:l, collect and receive from Ihe lenants or from any other
persons liable Iherelor. aU of Ihe Rents; instilute amj carry on all legal proceedings necessary for the protection of the Proper1y, including such
proceedings as may be roecessary 10 recover possession oflhe Property; collect the Rents and remove any tanant or 1enants or other persons
if?mtheProperty.
Ma/nlain the Property. Lender mayenler upon the Property to mainlaln the Property and keep the same in repair; to pay the costs thereof end ot
all services of all employees, iocludlng Ihair equipment, and of all cOrllinuing cDSls and expenses of maintaining the Property in proper repair and
corn:lilion, and also to pay all ~, assessments and water utilities, and the premiums on fire and other insurance efteclad by Lender on the
Property.
Date Received:
OCT 2 0 2010
Original Submittal
imt!J:cmy.-th
<'ritit JOb ~ 1
10/20/2010
Document 1 of 2
.
Order:
.
F4610-1BOB6
Page 2 of 1
~
Loan No: 170001549
ASSIGNMENT OF RENTS
(Continued)
Page 2
Compliance with laws. Lender may do aJ'ly and all things to execute and comply wllh the laws of the State 01 Oregon and also an other laws,
rules, orders, ordinances and requirements of all other governmenlalllQancies affecting Ihe Properly.
Lease the Property. Lender may rBllt or lease lhe whole or any par1 of the Property lor SlJch term or terms and on such conditions as Lender
may deem appropnale.
Empk)y Agents. 'Lender may engage such agent or 89ElntS as Lender may deem appropriate, eilher in Lender's name or in Grantor's name, 10
rent and manage the Property, induding the collection end appticalion of Renls.
Other Acts, lender may do all such olher Ihings and acts with raspect to the Property as Lender may deem appropriate and may act excIlJ'.iively
and solely in Ihe place and stead 01 Grantor and 10 have all 01 the powers of Grantor tor the purposes slaled above.
No Requirement to Act. Lender shal nol be required to do any ollhe foregoing aGIs or lhings, and tile tactlhallender shall have performed one
or more of the foregoing acts or things shall nof reqUire Lendef 10 do any olher specific ael or lhing.
APPI..ICATION OF RENTS. All costs and expenses incurred by lender in connection with the Property shall be lor GranfOf's account and Lender may
pay such costs and expenses from lhe Rents. Lender, in its sole discretion, shall determine the applicalion 01 any and all Renls received by it; however,
any such Rents received by Lender which are not applied 10 such cos1s and expenses shaJJ be applied 10 U1e Indebtedness, An elCpenrjitures made by
l.enoer under Ihis Assignment and nol reimbursed from the Rents shall become a part at the Indebtedness secured by this Assignment, and shall be
payable on demand, with interest althe Nota rala from dale of expenditure unW paid.
FlIL.L PERFORMANCE. II Grantor pays all ot the tndebtedness when due and otherwise performs aN the obligations imposed upoo Granlor undw l!'lis
A.ssignment, the Note, and the Rela1ed Documents, lender shan execute and deliver 10 Grantor a suitable safisfac~on 01 this Assignment and SUitable
statements at lar"minallon 01 any financing statemem on file evidencing Lender's securily interest in the Renls and the Property. Any termination fee
required by law shall be paid by Granlor, if perrniffed by applicable law.
LENDER'S EXPENDITURES. II any eclion or proceeding is commenced that would materially alfect Lender's interest in the Property or 11 Grantor falls
10 comply with any provision of this Assignment or any Related Documents, inclUding but nol Hmiled to Granfor's failt.Wll to ctischarge or pay when due
any amounts Grantor is required 10 discharge or pay under \his Assignmenl Of any Aelaled Documenls, lender on Granlor's behatl may {buf shall nol
be obligated 10) take any action that Lender deems appropriate, Including but not limited to discharging or paying all taxes, liens, securily interests,
encumbrances and other claims, at any lime levied or placed on the Renls or lhe Property and paying all costs for Insuring, maintaining and preserving
lhe Property, All such expendilures incurred or paid by Lender for such purposes will then bear interest atlhe rale charged under the Not& frOm the
date incurred Of paid by lender to the dale of repayment by Gltlntor. All such expenses will become a pari 01 the Indebledness and, allender's
option, will (A) be payable on demand; (B) be added 10 lhe balance 01 lhe Nola and be apportioned among and be payable with any irastallmenf
payments to become due during either (1) the lerm of any applicable insurance policy; or (2) the remaining term of the Nola; or (C) be treated as a
balloon payment which win be dUB and payable atlhe Note's maturity. The Assignment also will secura payment oflhese amounts. Such righl shall be
In addilion 10 all olher righls and remedies to which Lender may be entitled upon Default.
DEFAlI.T. Each of the following, at lender's option, shall constilule an Evenl 01 DetaiJl under Ihis Assignment;
payment Default Borrower fails to make any payment when due under lhe Indebtedness.
Other Defaults. Borrower or Gramor lalls 10 comply with or to perform any other term, obligation, covenant or condition contained in this
Assignmerrt or in any of the Related Documents or to comply with or to perform any term, obligalion, covenanl or condition contained in any olher
agreement belween Lender and Borrower or Granlor,
Detaun 00 Other Payments. Fa~ure 01 Grantor within the time required by this Assignmemto make any paymeotlor taxes or insurance, or any
other payment necessary 10 prevent fi~ng of or to effect discharge 01 any lien.
Detautt In Favor of Third Par1les. BOITower or Grantor defaults under any loan. extension 01 creeif, securily agreemenl, purchase or sales
agreemenl, or any other agreement, in favor 01 any other creditor or person that may materialy alleet any 01 Borrower's Of Granior's property or
ability to perform !heir respective obligations under this Assignmenl or any 01 the Aelaled Documents.
environmental Default. FaDure 01 any perty 10 comply with or perto-m when due any term, obligation, covenanl or condition comained In any
environmental agreement executed in connection with the Properly.
F~se Statements. Any warranty, represenlation or slateme.nt made or furnished to Lender by Borrower or Granlor or on Borrower's or Grantor's
behalf under this Assignment or the Aelalod Documents is false or misleading In any malerial respect, e~her now or at the time made or lutnished
or becomes false or mlsleadlng at any time Ihareatter,
Defective CoIlateraflzafjon. This Assignment or any of the Related Documenls ceases 10 be In lulllOfc.e and sHed (incJudlrlg /allure 01 any
collateral document 10 creale a valid and Perlected security inlerest or ion) at any time and for eny reason.
DeaI1l or Insolvency. The dissolution of Grantor's (regardless ot whether election to con~nue is made), eny mamber wilhdJaws from the fimlled
liability company. or any other lermination 01 Borrower's Of Grantor's exislence as a going business or tha death of any member, the InsolvfJncy of
Borrower or Granlor, the appointmenl at a receiver lor any par1 ot Borrowst's or Grentor's property, any assignment for" the benefil of creditors, any
type of creditor worXoul. or the commenCf!ment 01 any proceeding under llny bankruplcy or insolvency taws by or against Borrower or Granfor.
Creditor Of Forfeiture Proceedings. Commencement 01 foreclosure or forfeiture proceedings, whether by judictal proceeding. selt-heIp,
repossession or any other method, by Boy creditor ot Borrower or Grentor Of by any gl)V(lrnmenlal agency agalo.:.t the Renls or any Properly
securing the Indebtedness. This indudes a garnishmenl of any 01 BQfI"cwer's or Granter's accounts, Including deposit accounts, wilh lender.
However, this Event 01 Default shaU not apply if there is a good IaJth dispute by Borrower or Grantor as to the validity or reasonableflBS$ of the
claim whiCh is \he basis 01 the creditor or forfeiture proceeding and if Borrower or Granlor gives Lender written notice 01 the credrtor or ICll1eiture
proceedIng and depOSits wifh Lender monies or a surety bond for Ins creditor or torfeiture proceeding, in an amount determined by Lender, in its
sole disCretion, as being an adequate rllSlllVe or bond lor the diSpule.
Property Damage or Loss. TtLe Properly is lost, stolan, substanlially damaged, sold, borrOWed ageinsl, levied upon, seized, or attached.
Events Affecting Guarantor. Any of the preceding evenls occurs wilh respeclto any guarantor, endorser, surety, or accommodation paro, of any
otthe Indebtedness or any guarantor, endorser, surety, Of accommodation party dies or becomes incompetent, or revokes or disputes the validity
01, or liability under, any Guaranty oj the Indebtedness.
Adverse Change, A material adVerse change occurs in Grantor's financial condition, or l.ender believes fhe prospecl 01 payment or perfOrmance
of the Indebtedness Is impaired.
Insecurlty. Lender in good failh believes ilsell insecure.
RIGKTS AND REMEDIES ON DEFAlA..T. Upon Ihe occurrence ot any EV8nl 01 Default and at any lime lhereatler, Lemler may exercise anyone or
more 01 the following rights and remedies, in addilion to any ether righls or remedies provided by law:
Accelerate IndebtedJ1ess. Lender shall have the righl at its option without notice to Borrower or Granlor to declare the en1lre Indebtedness
immedialely due arld payable, including Iloy prepayment penalty that Borrower WOUld be required 10 pay.
Collect Rents. lender shall have the righI, wllhout notice 10 Borrower or Grantor, 10 lake possession olllla Property and colIecl the Rents,
includIng amounts pasl due and unpaid, and apply Ihe nef proceeds, over and above lender's costs, agalnsllhe Indebtedness. In turtherance of
this right, lender shall have all tile rights provided lor in lhe lender's Right to Receive and Co06ct Rents Section, above. If the RanIs are Collected
by ler1der, then Granlor irrevocably designales'Lender as Granlor's attorney-in-fact to endorse instruments received in paymentthereol in the
name 0' Grantor and 10 nego~ate the SlIme and collect the proceeds. Payments by tenants Of other users fo lander In response to Lender's
demand shaU salisty Ihe obligations lor wtlich the payments are made, whether or nOI, any proper grounds for the demand e:nsled. lender may
exercise ils rights under this subparagraph Elllher in person, by agent, or throUgh e racelVflr.
Appoint Receiver. Lender shall have the righf to haV8 a receiver appointed to take possession of all or any part of the Property, with Ihe power to
protect and preserve lhe Property, to operate the Properly precedlng foreclosure or sale, and 10 collect the Rents from the Property and apply the Date ReceJ'ved.'
pax;eed:s, OV8f sod above the cos.l 01 the 19CtWership, againsl tile Indebledness. The receiver may serve without bond if permllled by law.
lender's right 10 the appoinlment of a receiver shan exist Whether or not the apparent value of Ihe Property exceeds the Indebledl1flss by a
substanlial emount. Employmenl by Lender shaij not cIlsquahfye person from SlIrving as I!. receiver,
other Remedies. lender shall have all other rights and remedies provided in this Assignment or the Nola Of by law.
Eleclion of RemedIes. Elecllon by Lender 10 pursue any remedy shal nol exclude pursuit of any olher remedy, and an election 10 make OCT 2 0 2010
expenditurQS or to lake action 10 perform an obligation of Grantor under this Assignmem, atter Grantor's fallUl'& to perform, shell nol alleel Lender's
right to declare a detautt and exercise its remedies, '
Orig al Submittal
An thony Smith
Print Job Page 2
10/20/2010
Document 1 of 2
.
Order:
F4610-18086
.
Page 3 of 1
.
Loan No: 170001549
ASSIGNMENT OF RENTS
(Continued)
Page 3
AUomeys' Fees; EXpenses. If Lender inslilulas any slMt or actiorllo enforce any.ollhe lerms of this Assignment, Lander shall be entitled 10
recover such sum as the court may adjudge reasonable as atlcnJeYS' fees at trial and up01'1 any appeal. Whelhel" or not any court action is
JnvDJvsd, and 10 the extent not prohibited by law, all reasonable expenses Lender incUl'S I11alln Lender's opinion are necessary at any lime tor tho
protecUon at lis Interest or tho enforcement of Its righls shaU become II pan 01 !he JnDebledness payable on demand and shaU bear inleresl allhe
Note Tale !Jam the dale althe expenditure unlil repaid. Expenses covered by this paragraph Inetude, without Umilalion, however subject fa any
limits under llPP~cable law, Lender's atlorneys' lees and Lender's legal expenses, whether or nol there is a lawsuit, including attorneys' lees and
expenses lor bankruptcy proceedings pncluding efforts to modify Of vacale any automatic slay 0; Injuncfion), appeals, and any anticipaled
past-judgment collection services, the cast 01 searching records, oblaining Iille repOl'ls {including foreclosUf8 reports}, surveyors' repOl'ls, end
appraisal fees, liUe insurance, and lees for lhe Trustee. to the extent permilled by applicable law. Granlor also will pay any court costs, in addition
10 all other sums provided by law.
NOnCE OF FINAl AGREEMENT. ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR
FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABlE UNDER WASHINGTON LAW.
MtSCEU.ANEOUS PROVISIONS. The following miscellaneous provisions are a part 01 this Assignment:
Amendments.. This Assignment, together with any Relatad Documents, constitutes Ihe entire unclerstanding and agreemenl oflhe parties as to
the mailers sellorth In this Assignment No alteration 01 or amendment 10 this Assignment shan be effective unless given in wriling and signed by
the party or parties soughlto be charged or bOUnd by the all8falion or amendment.
Captlon Headings.. Caption headIngs In this Assignmenl ere lor convenience purposes only and are nollo be used to Interpret or define lhe
provisions of this Assignment.
Governtng L8W', With respecllo proceclurat matters related to the perfect10n and enforcement ot Lender's rights against the Property,
tlUs Assignmenl wW be govemec:l by fedefall_ appllcllble 10 Lender and to the extent not preempted by federal laW, the laws of Ihe
State 01 Oregon. In all other respecls, this Assignment will be governed by federal law applicable to Lender and, 10 the extent not
preempted by fe<lerallaw, tile laWs of lhe Slllle or Washington without regard 10 its conflicts of law provtSions. Howevef, If lhere ever Is
II quesUon lIbout whether 1IflY proviSion of this. AssIgnment Is valid or enlor~able, the provlsloo thai Is questlOfled wl1l be governed by
whichever stale or federaf laW would flnd Ihe provision to be valid and enlorceable. The loan Inmsactlonlhat is evidenced by the Nole
and this Assignment has been applied lor, considered, approved and made, and aU necessary loan documents hllVe been accepted by
Lender In Ihe Stale 01 WashlngtOfl.
Choice of Venue. If tt\e1e is 8 lawsuit, Grantor agrees upon Lender's request to submillo the jurisdiction of the courts of King County, State 01
Washington.
Joint and Several UablHty, All obltgallons of Borrower and Granlor under this Assignment shall be joint and several, and all references to
Grantor shall mean each and every Grantor, and all relerences 10 Borrower Shall mean each and every Borrower. This means that each Grantor
Signing below is responsible for aU obligations in this Assignment. Where any one or more of lhe parties is a corporation, partnership, limited
ljab.ili/)l company or similar entity, II is nol necessary lor lender 10 inquire into the powers of any oltne officers, direclrm, partners, membefs, or
other agents acting or purporting 10 acl on lhe enlity's behatl, and MY obliga~ons made or crealed in reliance upon the professed exercise 01 such
powers shall be guaranteed under Ihis Assignment.
Merger. TI1afe shall be no merger of the inleresl or eslate created by this assignment wilh any other interest or estate in the Property at any time
held by or lor the benefit of Lender In any capacity, wilhoutthewri"en consent of lendef.
Interprelatlon. (1) In all cases where there is more than one Borrower or Granlor, then all words used in this Assignmenl in the singuler shall be
deemed to have been used In the plural where the conlexl and construction so require. (2) If more thaI) one person signs Ihls Assignment es
"Granlor,"lhe obligations of each Grantor are joint and several. This means that If Lender brings a lawsuit, Lender may sue anyone or more of the
Grantors. II Borrower and Grantor are 001 the same person, Lender need not sue Borrow8/' first, and that BorrowBf need oot be joined in any
lawsuit. (3) Tha names given to paragraphs or sections in this AssIgnment are for convenianca purposes OfIty. They are not 10 be used 10
interpret or define the provisions 01 this Assignmenl.
No Waiver by Lender. Lender shall not ba deemed 10 have waived any rights under this Assignment unless SUCh waiver is given in wrttifl9 and
signed by Lender. No delay or omission 00 the part 01 Lender in exercising any right shall operate as a waiver of such right or aoy other right. A
waiver by Lender of a provision of this Assignment shall not prejudice or constilule a waiver of Lender's right otherwise 10 demand strict
complial'lCe with that provision or any olher provision of Ihis Assignment No prior waiver by Lender, nor any course of dealing between Lender
and Grantor, shag constitute a waiver 01 any of lendO(s rights Of of any of Grantor's obligations as 10 any future transactions. Whenever Ihe
consent of Lender Is required under this Assignment, the granting 01 such consenl by lender in any instance shall not constitule continuing
consent to subsequenl instances where such consent Is required and in all cases such COllSer1t may be granled or withheld In Ihe sole discretion
01 Lender.
Nollces. Any notice required 10 be given under this Assignment shall be glVliln in writing, and shall be effective when ectually delivered, when
actually received by telelacslm~e (unless otherwise required by law), when deposited with a nationally recogn\zecl overnight courier, or, il mailed,
when deposited in the Un~ed States mail, as first class, certified or legistered mail postage prepaid, direcled to lhe addre:>ses shown near the
beginning ollhis Assignment. Any party may change ilsaddress for notices under Ihis Assignment by giving formal written nollce to the other
parties, specifying thai the purpose of tha notice Is 10 change the party's address. For nob purposes, Grantor agrees to keep Lender In/ormed
al aU times 01 Granlor's current address. Unless olherwise providacl or required by law, if lhere is mora than one Grantor, any notice given by
Lander 10 any Grantor is deemed 10 be notice given to all Grantors.
PowerlJ of Anorney. The various agencies and powers 01 allomey conveyed on Lender under this AsSignment are granted for purposes of
security and may not be revoked by Grantor unlil such time as the same are renounced by Lender.
Severatltllly. If. a court of competent jurisdi<;tion finds any provision 01 this Assignmenl 10 be illegal, invalid, or unenlorceable as to any
circumstance, that finding shall not make the olfending provision illegal, Invalid, or unenlorceable as to any other circumstance. II feasible. the
olfending proVision stTali be consldsf"Bd mDdiliecl so thaI it becomes legal, valid and enlorceable. If lhe olfending provision cannol be so modified,
il shall be considered claIetad from lhis Assignment. Unless olherwise required by taw, the iIfegality, invalidity. or ull9illOlcaability 01 any provision
01 this Assignment shall nol aflectlha legality, validity or enlorceability 01 any olher provision of !his Assignment
SUccessors and AssIgns. Subjacllo any limitations staled in this Assignment on lransler 01 Granlor's Interesl, this Assignmenl shall be binding
upon and Inure to Ihe benalit 01 the partles, their success~ and assigns. II ownership 01 the Property becomes VllSted in a person olher than
GrantOr, Lender, without notice to Granlor, may deal with Granlor's successors with referenca to this Assignment and the Indebtedness by way Of
forbearance or extension without retee.sing Grantor from tha ooligalions ot this Assignment or liability under the Indebtedness.
Time ts 0' the Essence. Time is ollhe essence in the performance 01 this Assignment.
Waiver of Homestead ExempUOfI. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the Slale of
Oregon as 10 all Indebtedness securad by this Assignment.
Walvl:lf of Right of Redemption. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY CONTAINED IN THtS ASSIGNMENT,
GRANTOR HEREBY WAIVES ANY AND All RIGKTS OF REDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE
ON GRANTOR'S BEHALF AND ON BEHALF OF EACH AND EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF GRANTOR, ACQUIRING
ANY INTEREST IN OR TlTtE TO THE PROPERTY SUBSEaUENT TO THE DATE OF THIS ASSIGNMENT.
DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Assignment Unless specilically staled
to the contrary, aIllt1ferences 10 dollar amounts shall mean amounts In lawful money of the United Stales of America. Words and terms used in the
singular shall indude the plurel, and the plUral shall include Ihe singular, as the context may require. Words and Ierrns not olherwise dafinad in this
Assignment sha~ have the meanings allributed to such lerms in the Uniform Commercial Code:
Assignment. The wOfd "Assignment" means IhIs ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may be amended or modified from
lime 10 time, together with aD axhibils and schedules attached 10 this ASSIGNMENT OF RENTS from time to lima
Borrower. The word "Borrower" means Mar1l. S. McDonald.
ate Received:
OCl 2 0 20\0
De'ault. The WOfO "Defaulr means the Delault sel lorIn In Ihls Assignment in Ihe sedion blled "Oelaulr.
Event 0' Defaull. The words "Event 01 Delault- mean any of the events o! defaulI sellol1h in lhis Assignment in lhe delaull section of this . 'oa\ submitta\
Assignment. OnQ\
Granlor. The word -Grantor" msans SPRINGFiELD V. LLC.
An thony Smi th '
Print Job Page 3
10/20/2010
Document 1 of 2
.
.
Order:
F4610-18086
.,
loan No: 110001549
ASSIGNMENT OF RENTS
(Continued)
Page 4
Guaranty. The word "Guaranty" means the guaranly !rom guaranlor, endorser, surety, or accommodation party to lender, including without
hmitalion a guaranly 01 an or part of tha Nole.
Indel:lledne5$. The word "Indebtedness. means all principal, Intetest, and olher amounts, coots and e;cpenses payable under the Nota or Relaled
Documents, together wilh aM renewals 01, extensions of, modffications of, consolidations of and substitutions lor Iho Nola or Related Documents
and any amounts exponded or advanced by Lender 10 discharge Grantor's obligations or expenses inClDTed by Lender to enlorce Gr"antor's
ob~gations under lhis Assignment, togelher wilh interest on such amounts as provided in this AssIgnment
lender, lhe word 1....ender" means FOUNDATION BANK, its successors and assigns.
Nole. The word "Nolo" means the promissory noto daled June 25, 2009, in the original principal amount of $1,250,000.00 !rom
Borrower 10 Lender, together wilh Illl renewals 01, eldensions 01, modifications 01, refinancings of, consolidations 01, and substitutions for lhe
promissory note orllgreemenl.
Property, The word "Property" means all 01 Grantor's righi, title and interest in and to atl the Property as desaibed in the "Assignment" sectiOn of
IhisAssignmenl.
Retaled Documenls. The words "Relaled Documents" mean al promissofy noles, credit agreements, loan agreements, environmental
agreements, guaranties. securily agreements, mortgages, deeds 01 lrust, security deeds, collateral mortgages, and all olher instruments,
agreements and documents, whether now or hereafter existing, execuled in connecbon WIIh the Indebtedness.
Renls. The word 'Rents8 means all of Grantor's presenl and luIure rights, tiUe and interesl in, 10 and under any and au presenl and fuhJre leases,
including, wilhoutlimitalion, all rents, revenue, income, issues, royalties, bonuses, accounts receivable, cash or securily deposits, advance renlals,.
profits and proceeds from the Property, and olller payments and benelils derived Of 10 be deoved from such leases 01 every kind and nalure,
whether due now or laler, induding withoull1mita!ion Grantors righl to enlorca such leases and 10 receive and collec! payment and proceeds
lhereunder.
THE UNDERSIGNED ACKNOWLEDGES HAVING READ AU THE PROVISIONS OF THIS ASSIGNMENT, AND NOT PERSONAU.Y BUT AS AN
AUTHORIZED SIGNER, HAS CAUSED THIS ASSIGNMENT TO BE SIGNED AND EXECUTED ON BEHALF OF GRANTOR ON JUNE 25, 2009.
GRANTOR;
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
i.J A )
)5S.
CO\JNTY OF (C" w;:; )
Onlhis ~ ~ day 01 L.-"'t...A' ,....,."...."":;..~...52....:1:, before me, the undersigned Notary Public, personally
appeared Marte McDonald, Manager ot SPRINGFIELD V, LlO; ano.kriown 10 meo1o be a member or designated agenl of the limtled liablijly company
that el(eculed the ASSIGNMENT OF RENTS and acknowte"~ lhe'Assignmenl Jb..be lhe free and voluntary ael and deed 01 the ~mited liability
company, by al.llhOrily 01 statute, ils articles of organizatipn 01". its:oP.8r8Iing'ag,eeme!'Jl, fOf lhe uses and PUlp05e5 Iherein mentioned, and on oath
slaled that he or she is authorized 10 exacute this Assignment and in fact exeCuted !.he ASsignment on behall 01 the timited iiabilily company.
By~:?PL .. ..' ..' R~__J" &Jh?~t,A
N"",""."'"~d"'Ih.St...., CO./! "';,,:.:;.<<.. .My;~,."",~.."... C)~ 7q ,/. /
.,\..~::.~:".,~~_.
STATE OF
LASER PRO Lending. Ver. 5.44.00.002 Copr. Harland Financial Solulions, Inc. 1997, 2009.
S:\lASERPROICFI\LPL\G14.FC TR-2661 PR-19
All Rights Reserved.
- ORfWA
Origin
Anthony Smi.th
Print Job Page 4
Page 4 of 1
ate Received:
OCT 2 0 2010
SUbiillt~~1
10/20/2010
Document 2 of 2
.
.
Order: F4610-18086
Page 1 of 1
o9Iqj[)
/
RECORDATION REQUESTED BY:
FOUNDATION BANK
Main OffIce
1110 - 112th Avenue HE, SUlle 200
Bellevue,WA 9&004
,,----------
Division of Chi.f Deputy Chrk .
Lan. Count.y Deed. .nd Records
-----
lOO~J64~1
~1II1111" ~1I111111111~11~ /11111 1111111111111 $51.00
010841532009011364570060063
00/30/2009 II :44:29 All
CASHIER 02
WHEN RECOROEO MAIL TO:
FOUNDATION BANK
1110 1121hAvenueNE,Sulte200
Bellevue, WA 98Q0.4
Af1er Recording-Return To:
Western Title & Escrow Company
.dQ7 n,",y,~,: OA iuilD J~g, [Yilene llR 9?191
RPR-DTR Cnbl St.n:8
$30,00 $1~.OO $11.00
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
DEED OF TRUST
THIS DEED OF THUST Is dated June 25, 2009, among SPRINGFIBD V, LLC. a Washington limited liability
Company, who acquired title as SPRINGFIELD V, LLC, a Washington limlted Liability Co. whose address is
2756 NE 45th Street, Sune #104, Seattle, WA 98105 rGrantor"); FOUNDATION BANK, whose address is Main
Office, 1110 - 112th Avenue NE, Suite 200, Bellevue, WA 98004 (referred to below sometimes as "Lender" and
sometimes as "Beneficiary"); and Western TJUe & Escrow Company of Lane County, whose address is 497
Oakway Road, Suite 340, Eugene, OR 97401 (referred to below as "Trustee").
CONVEYANCE AND GRANT. For valuatJle consideration, represented In the Note deled June 25, 2009, In the onglnal prtncipaJ amount of
$1,250,000.00, from Borrower 10 Lender, Grantor conveys to Trustee for the benerrt of lender as Beneficlaty all of Grantor's righi, lille, and
inlerest in and to lhe following described real property. logether wilh all existing or subsequently erecled or affiXed bu~dings, improvements and
fixtures; all easements, rights of way, and appur1f:lnances: all waler, water rights and dilch rights (inCluding slock in utililies wi\h difch Clr irrigation rights);
and all other rights, royalties. and profits relating 10 Ihe real property, including withoullimflalion all minerals, oil, gas, geolhermal end simUar mailers,
(the nReal Property") located in Lane County, State of Oregon:
PARCEll:
A PARCEL OF LAND LYlNG IN THE NORTHWEST QUARTER OF SECTION 22, TOWNSHIP 17 SOUTIi. RANGE
3 WEST OF THE WILlAMETlE MERIDIAN, BEING DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE A. C. SlEVENS DONATION LAND CLAIM NO. 45. IN
TOWNSHIP 17 SOUTH, RANGE 3 WEST OF THE WllLAMETTE MERIDIAN; AND RUN THENCE NORTH 00 04'
WEST ALONG THE EAST LINE THEREOF, 151.69 FEET; THENCE NORTH 890 45' 20" EAST 220.00 FEET;
THENCE SOUTH 0" 04' EAST 15'.95 FEET; THENCE SOUTH 89" 49' 20" WEST 220.00 FEET TO THE POINT OF
BEGINNING, IN LANE COUNTY, OREGON.
PARCEL II:
BEGINNING AT A POINT 220.00 FEET NORTH 89" 40' 20" EAST OF THE SOUTHEAST CORNER OF THE A. C.
STEVENS DONATION LAND CLAIM NO. 45, TOWNSHIP 17 SOlITH, RANGE 3 WEST, WILLAMETTE
MERIDIAN; A~m RUN THENCE NORTH 00 04' WEST 151.95 FEET; THENCE NORTH 890 45' 20ft EAST 95.80
FEET; THENCE SOUTH 0" 04' EAST 73.89 FEET; THENCE NORTH 89" 49' 20" EAST 18.00 FEET; THENCE
SOUTH 00 04' EAST 78.06 FEET; THENCE SOUTH 890 49' 20" WEST 113.80 FEET TO THE POINT OF
BEGINNING, IN LANE COUNTY, OREGON.
The Real Property or its address is commonly known as 3266 and 3270 Gateway Street, Springfield, OR 974n.
The Real Property tax identification number is 1226511, Code 01900 and 1441813, Code 01900.
Granlor presenfly assigns to lender (also known as Beneficiary in this Deed 01 Trust) all 01 Granlor's righI, Mo. and interest in ano 10 an present and
future leases 0' the Property and all Renls lTom lhe Property. In addition, Granlor gran1510 Lender a Uniform Commercial Code securlly inleresl in the
Personal Property and Renls.
THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAl
PROPERTY, 1$ GIVEN TO SECURE (AI PAYMENT OF THE INDEBTEDNESS AND (I'll PERFORMANCE OF ANY AND AU. OBLIGATIONS
UNDER THE NOTE, THE RB..ATED DOCUMENTS, ANO THIS DEED OF ~UST. THIS OEED OF TRUST IS GIVEN AND ACCEPTED ON THE
FOlLOWING TERMS:
GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warraf1\s thaI: (a) fhis Deed 01 TrltSf ~ execuled af Borrower's raquasl and nol al
the request of lender;. (bJ Grantor Itas lhe lull power, rlghJ, and sufhorftr /D enter iIllo this Deed of Trust and 10 hypolhecate \he Proper1y; (cl the
proviSions ollhis Deed of Trusl do nol conllicl w~h, or resullln a defaull under any agreemenl or other instrument binding upon Granlor and do nol
resull in a viola~on of any law, regulation, court decree or order applicable to Granlor; (d) Granlor t\as esfablishad adequate means 01 obtaining from
Borrower on a continuing basis informalion about Borrower's financial condition; and (e) Lender has made no represenlalion 10 Granlor about
Borrower \including wilhoutlimitalion the creditworthiness of Borrower).
GRANTOR'S WAIVERS. Granlor waives all rights or defenses arising by reason of any ~one aclion" or "anli-deficiencf' law, or any other law whiCh
mllY prevent Lender from bringing any actioI') against Grantor, inducting a claim 101 deficiency 10 lhe exlenl Lender is otherwise entitled 10 a claim for
deficlency, before or after Lender's commencement or complation of any1oreclosure action, ailher judicially or by elferclse 01 a power of sale. ,
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed 01 Trust, Borrower shall pay 10 Lender all Inaebledr.ess seculed by lhis
Deed of Trusl as it becomes due, end Borrowsr and Grantor shall perform aIIlheir respecllva obligalions under lhe Note, this Deed of Trust. and the
Aelaled Documents.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower end Granlor agree Ihat Borrower's and Granlor's possession and use ollhe
Property shall be govarned bylhe following provisions:
Possesslofl and Use. UnUl the occurrence of an Event 01 Detaull, Grantor may (1) remain In possession and control ollila Properly; (2) use,
operate or manage lhe Property; and (3) coltect lhe RenlS from the Property. The foftowing provisions relate 10 fhe use oltl1& Property or 10 other
limitalions on Ihe Property. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD
INQUIRE ABOUT THE PERSON'S _RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 ANO 195.305 TO 195.336 AND SECTIONS 5 TO 1"
CHAPTER 424, OREGON LAWS 2007. TI-lIS INSTRUMENT DOES NOT All.OW USE OF THE PF=IOPERTY DESCRIBED IN THIS INSTRUMENT IN
VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON
ACaUIRING FEE TIT\.E TO Tl-lE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO
VERIFY THAT THE UNIT OF LAND BEING lFlANSFEARED IS A LAWFUll.Y ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR
215.010, TO VER!FY THE APPROVED USES OF THE LOT OR PARCEL, TO OETEAMfNE Ar-N LIMITS ON lAWSUITS AGAINST FARMING OR
FOREST PRACTICES, AS DEFINED IN QAS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF Am,
UNDER OAS 195.300, 195.301 AND 195.305 TO 195.336 ANO SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007.
Duty to MaIntain. GranIer shaU mainlain the Property in tenantable condition and promptly perform aU repairs, replacements, and maintenance
necessary to presarve ils value.
ate Received;
OCT 2 0 2010
Original Submittal
Anthony Smith
Print Job Page 5
10/20/2010
.
.
Order:
F4610-18086
.
Page 2 of 1
Document 2 of 2
Loan No: 170001549
DEED OF TRUST
(Continued)
Page 2
Nuisance, Waste. Grantor shalt nol cause. conduct or permit any nuiSance nor commit, permit, or svtfer any stripping or or wasle all or 10 the
Property or any portion at the Property. Wilhoullimiting the generalily of the foregoing, Granlor will nol rernov&, or granllo any other party the
rig", to remove, any timber, minerals (including oil and gllS), coal, clay, scoria, soH, gravel or rock products wilhoul Lender's priorwrlhen consent.
Removal of Improvements. Grantor shaU not demorlSh or remove lIny improvements from the Real Property without Lender's prior writlen
consent. As a condiliCn Ie the removal 01 any Improvamants, Lender may require Grantor 10 make arrangements satislactory \0 Lender 10 replace
such Improvements wilh Improvements 01 alleasl equal value.
Lender"s Right 10 Enler. Lender and lender's agenls and represenlalives may enter upon the Real Property al aU reascnable times 10 attend 10
Lender's inlerests and to fnspecllhe Real Property for PUrposes of Granlor's compliance wilh Ihe terms and conditions of this Deed of Trust.
Compllanu with Governmental Requirements. GranlOl" shall prompUy comply with all laws, ordinances, and regulations, now or hereafter in
affecl, of all govarnmental authorities applicable to the use or occupancy 0' lhe Property, including without limitation, the Americans With
Disabil!ties Act. Grantor may contest in good faith any such law, ordinance, or regUlation and withhold complianCQ during any proceeding,
including appropriala appeals, so long as Grantor has nolified Lender in writing prior to doing so and so long as, in Lender's sole opinion,
lender's interests In the Property are not jeopardl2e{:\. Lender may reqUIre Granlor to post adequate security or a surely bond, reasonably
satisfactory lolender,to protect Lender's inlerest.
Duty to Protect Grantor agrees neither 10 abandon or leave unattended the Property. Grantor shall do all other acts, In addition to Ihose acls set
fo1fIl above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property.
DUE ON SALE _ CONSENT BY LENDER. Lender may, at lender's optiOn, declare immediately due and payable all sunm secured by thiS Deed of
Trust upon \he sale or traO$fer, withoul Lender's prior written consent, of all or eny parl ofltle Real Property, or eny Inwest ifl tile Real Property. A "sale
or transfer" means thecoflveyance 01 Real Property or My righi, tille or interest in tho Real Property; whether legal, beneficial or equitable; whether
voluntary or Involuntary; whether by oulright sale, deed, inslallmenl sale contract, land contracl, conlract lor deed, leasehold interest wilh a term greater
lhan three (3) years, leas&-option COfltract, or by sale, assignment, or transfer of aflY benel1ci8t intefest in or to any land trusl hOlding litIe to the Real
Property, or by any other method 01 conveyance of an interest ifl the Real Property, 11 My Granlor is a corporation, partnership or limiled liability
company, transf9r also Includes any change in ownership of more than twenty-five perceflt (25'll.1 of the voting stock, partnership interests or limiled
liability company interests, as the case may be, 01 such GranlOl. However, this option shall not be exercised by Lender if such exercise is prohibited by
tederal law or by OregOfl law, .
TAXES AND WENS. The follOWing provisions relating to lhe taxes and liens on Ihe Property are part otthis Deed of Trusl:
Payment. Grantor shall pay when due {Md in aH events prior 10 delinqueflCY} all taxes, speciallaxes, assessments, ctlarges (irn:luding watar and
sewer), lines and impositions levied against or on account of the Properly, and shall pay when due all claims for work done on or for seMr:es
rendered or material furnished 10 the Property.. Grantor shal mainlain the Property free of all liens having priorily over or equal to the Interest 01
lender under this Deed of Trusl, except for the liefl 01 taxes and assessments not due, exceplfor the Existing Indebtedness relerrad to below, Bfld
excepl as olherwiSeprovicled in this Deed olTrusl.
Righi to Contest. Grantor may wilhhold payment ot any lax, assessment, or claim in connactiofl with a good faith di$pute over the obligation 10
pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a resull 01 floflpayment, Granlor shaR wilhifl filleefl
(15) days atnlr Ihe tien arises or,ll a lien Is filed, within Mean (IS) days after Grantor has notiCe of the filing, secure th& lfrscharge ollhe lien, or if
reQuested by Lender, deposit with lender cash or a sufficienl corporale surely bond or other security salisfactory 10 Lender in Bfl amoufll sufficient
to discharge the Iiefl piLlS any costs and attorneys' fees, or other charges thaI could accrue as a resUlt 01 a foreclosure or sale under the lien. In
any contest, Granier Shall delend ilself and lender and shall salisfy any adverse judgment before enlorcemeflt against the Property. Grantor shall
flame ~ender as an additional obligee uflder any surety bond tumished ifl the conlsst proceedings.,
Evidence 01 Payment Granlor Shall upon demalltl lurnish to Lender satiStatlory evidence 01 payment of the laxes er assessments IInd shell
aUlhorize the appropriate governmental official 10 deliver 10 lender at aflY lime a written slalemenl of lhe !axes and assessmerrts against the
Property.
Nollce of Construction. Grantor shall flotify Lender al teast fitleen (15) days before any work is commenced, any services are furnished, or any
malerials are slJpp~ed to the Properly, if aflY mechanic's Uefl, materialmen's lien, or other fl8n could be asserted on account ollhe wor)(, services,
or materials. GranlOf will upon request of Lender turnish to Leflder advance assurances satisfactory 10 Lender that Granlor can and will pay the
cosl 01 such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed 01 Trust
Maintenance 01 Insurance, Granlor shall procure and maifllain policies of lire insurance with standard ex!eflded coverage endorsements on a
replacemenl basis lor lhe futllnsurable value coverlrtg alI1mprovemeflls on the Real Property in afl amounl sufficienl to avoid applicaliOn 01 any
coinsurance claLlSe, afld wilh a stendard mortgagee clalJS9 in favor of lender. Grantor shall elso procure afld maintain comprehensive general
liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as addilionallnsureds in such liabilily
insurance poticies. Adollionalfy, Granfor shaU maintain such olher inslR'Br'lc&, indudlJlg bul not limited to hazard, business interruption, and boiler
insuraflce, as Lendar may reasonably require. Policies shall be wrttlen in term, amoufll$, C'lIverages and basis reasonably acceptable 10 Lender
and issuad by a compaflY or compaflies reasonably acceptable to Lender. Glamer, upon request of lender, win deliver to lender from lime to
lime the policles or certificates of insurance ifl lorm satisfactory to lender, including slipulaliofls thaI coverages will not be cancelled or dimInished
wilhoul allea.sl tefl (10) days prior written notice 10 Lander. Each iflsurance policy also shall include an efldorsemenl providiflg Ihat coverage in
favor of Leflder will not be Impaired in any way by aflY ael, OmissiOfl or detault of Granlor or any other person. Should the Real Property be
located In an area desigfl81ed by the Director of the Federal Emergency Managemeflt Agency as a special /lood hazard area, Grantor agrees to
obtain and maintain Federal Flood Insurance, if available, within 45 days alter nolics is given by lenOOr that \he Property is lcealed In a special
flood hazard arua, for the full unpaid principal balance 01 the loan afld any prior liens on lhe property securing lhe loan, up 10 the maximum policy
limits set uflder thf:! National Flood Insurance Program, or as o,hlllWisll required by leflder, and to maintain such insuranca lor the lerm 01 the
loan. '
Application 0' Proceeds. Granlor shall promptly nolify lender 01 any loss or damage 10 \he Property. Lander may make prool 01 loss II Granlor
fallslc do so wif:hin liflean (15) days of tha casualty. Whelher or not Lefldef's securily is impaired, Lander may, at Lender's election, receive afld
retain lha proceeds of any insurance afld apply lhe procaeds 10 the reductiOfl of the Incfabledness, payfTlElfll 01 any liefl affecting the Properly, or
the 'estoration ana repair of tha Property. It Lender alecls 10 apply the proceeds to restoration and repair, Grafltor shall repair or replace Ihe
damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, UpOfl satisfactory proof of such expenditure, payor
reimburse Grantor from Ihe proceeds for 'he reasonable cost ot repair or resloraliclfl if Grantor is flat in default under this Deed of Trust. AflY
proceeds which have nol been disbursed within 180 days after lheir raceipl and which Lender nas flol committed to the repair or restoraliofl of the
Property shall ba used first to pay any amounl owing to leflder under this Deed of Trust, lhen 10 pay accrued iflterest, afld the remainder, if ant,
shall be eppliad 10 the principat balanca 01 the lndebledness. It Lendl!( holds any procgeas atler pa;>ment in fllll of the Indebtadflsss, such
proceeds shall be paid 10 Grantor as Granto(s interests may appear,
Compliance with Extstlng Indebtedness. During lhe period in which aflY Existing Ifldebtedness described below is jfl ellect, compliance with the
insurance provisions conlalned ifl too insllument eviclencing such Existing Indebtedness shall conSlilule compliance with !he insurance provisions
under this Deed of TrLlSt, to the extenl compliance wilh the terms 01 litis Deed ot Trust would C'lInstitute a dupf1C3.tion 01 insurance r&quiremElf11. If
any proceeds from the insurance become payable Ofl loss, the provisions ifl this Deed of TnlSt lor division of procaeds shaU apply only 10 thaI
porfion of the pf0C88ds not paraDle 10 th6 holder 01 lhe Exlsling Indabtedness.
Grantor's RepQf1 on Insurance. Upon 'request 01 Lender, however flol more lhan once a year, Grafltor shall furni!lh to lender a reporl Ofl each
existing policy 01 insurance showiflg: (1) the name of the insurer; (2) the risks insured: (3) the amounl ot the policy; (4) the property insured,
the then current replacemenl value of :ouch property, and the manner of c1eterminiflg that value; and (5) the expiration date of the poliCy. Granlor
shalf, upon rllQuesl of lender", have an indepeflClent appmtser satisfactory to LeMer determine the cash value replacement cost ollhe Properly.
lENDER'S EXPENDITURES. II any action or proceeding is commenced tnat would materially affect lender's interest in tha Properly or if Granlor /ails
to comply with any provision of lhis Deed of Trusl or any Relaled Documents, iflcluding but not limited to Grantor's failure to comply with aflY obligation
to maifltain Existing Indeb'edness in good standifIQ as required below, or \0 discharge or pay whefl due any amounls Grantor is required to dlscharge
or pay under fhls Deed of Trust or any Relaled Docurrteflls, lender Qfl Grantor's behalf may (but shall not be obligatad 10) lake any action that Lender
deems appropriale, including bul not limitad to discl'larging or paying atllaxes, liens, !l8Curity iflterests, encumbrances and othar claims, at any Ume
fevied or placed on the Properly and paying all costs for insuring, mainlainlng and preserving the Property. All such expenditures incurred or paid 'oy
lander for such purposes will fllen bear interestsl tl'ie rata charged under !he Noto trom the date incurred or paid by lender to lhe dale 01 repayment
by Grantor. AI( such expenses will become a part olll1e fndeb!ednas.s and, allern:ler's oplion, will jA) be payable Ofl demand; (8) be addad 10 lhe
balance 01 the Nole and be apportloned among and be payable with af'rl installment paymeflts to become due cturing eilher (1) Ihe lerm 01 any
applicable insuranc& policy; or (2) lhe remalfllng tefm 01 the Note; or (e) be trealed as a balloon payment which will be due afld payable at lhe
ate Received:
I OCT 2 a 2010
Origina~ Submittal
Anthony Smith
Print Job Page 6
10/20/2010
Document 2 of 2
.
.
Order: F4610-18086
Loan No: 170001549
DEED OF TRUST
(Continued)
Page 3
Note's maturity. The Deed of Trust also win secure paymanl of these amounts. Such right shall be in addition to all other rights and remedies to which
Lender may be entitled upon Default.
WARRANTY; DEFENSE OF TiTlE. The following proviSions relating 10 owoership of the Property IIfB II pafl althis Deed 01 Trust:
Title. Glllntor warrants thaI: (a) Grantor holds good and marllelable title 01 record to the Property in lee simple, kee and clear of allliel'lS and
encumbrances other than those set forth in the Real Property description or in .he Exisling Indebtedness section below or in any title insurance
policy, title report, or final title opinion issued in IaVOf of, and accepted by, lender in connection with this Deed of Trust, and (b) Grantor has the
full right, power, and authority 10 execute and deliver this Deed clTrust to Lender.
Defense of Title. Subject to the exception In the paragraph above, Granlor warrants and will forever defend lhe ti~e 10 lhe Property againstlhe
lawful claims of alt persons. In the event any aclion or proceeding is commenced thai questions Grantor's title or the interesl of Trustee or Lender
under this Deed 01 Trust, Grantor shall defend the action at Grantor's expense. Grantor may be Ihe nominal party in such proceeding, but lender
shall be entil~ to parlicipate in lhe proceeding and to be represented In the proceeding by counsel of Umder's own choice. and Grantor will
deliver, or causa 10 be del<vered, to Lender such inslruments as Lender may requesllrom lime to time to perm" such participation.
Compliance With Laws. Grantor warranls thai the Property and Grantor's usa 01 Ihe Property compftes with all existing appncab)Q laws,
orcinances, and regulations 0/ governmental authorilies.
Survival 0' Representations and WarrllOtles. All representations. warranties, and agreements made by Granlor In this Deed of Trust Sha'
survive the execution and delivery of this Deed of Tl'\ISt, shaD be continuing in nnture, and shall remain in full force and effect until such time as
BOfro_wer's Indebtedness shall be paid in lull.
EXISTING INDEBTED~ESS. The following prOViSions concerning Existing Indebl8(jness are a pari of this Deed 01 TNSt
Exlsllng Lien, The tien of this Deed of Trust securing the Indebl&dness may be secondary and Inferior 10 an existing lien. Grantor expressly
covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and 10 prevenl any default on such IOdebledness, any delaull
under lhe instruments evidencing such indebtedness, or any ctefaull under any security documents for such indetltedness.
No Modlflcatlon, Grantor shall 1'101 enter inlo any agreemenl wilh the holder 01 any mortgage, deed of trusl, or other security agreement whiCh
has priority over Ihls Deeet of Trusl by which !hat agreemenl is modiflBd, amended, exlendad, Of re~wed without the prior written consent of
Lender. Grantor shall neifher request nor accept any future advances unaw eny such secunty agreement wilhoul the prior wrnIen cOflS&nl of
Lender,
CONDEMNATION. The follOWing provtsions relaUng 10 condemnation proceedings are a part of this Deed ot Trust:
Proceedings. If any proceeding in condemnation is filed, Grantor shall promplty nolify Lender in writing, and Granlor shall promptly take such
steps as may be necessary 10 defend the action and OOlain the award. Grantor may be the nominal party in such proceeding, but Lender ShaD be
entilled to participate in the proceeding and to be represenled in the proceeding by counsel 0/ its own choice, and Grantor will deliver or cause to
be deliVerad to Ll:Inder such instruments and dOcumentation as may be requested by lender IrGlll time to time 10 permit such participation.
AppllcaliOn of Net Proceeds, It all or any part 01 the Property is condemned by eminent domain proceedif'1gs Of by any proceeding or purchase
in!ieu of condemnation, Lander may at its election require that all or any portion of the nel proceeds of lhe award be applied to Ihe IlIdebledf'l8Ss'
Of the repair or resloration of the Property. The net proceeds of Ihe award shall mean Ihe award after payment of all reasonable costs, expenses,
and sttomeys' fees incurred by Trustee or lender in connectiOn with !he condemnaliDn.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAl AUTHORITIES. The following provisions relating 10 governmental taxes, fees
and charge:s are a part 01 !his Deed 01 Trust:
Currenl Taxes, Fees anet Chilrges. Upon request by lender, Grantor shall execul8 such documents in addilion 10 this Deed 01 Trusl and take
whalever olher action is requested by Lender to perfecl and continue Lender's lien on the Real Proparty. Granlor shall reimburse Lende.- for all
taxes, as describ9d below, logether with all expenses incurred in recording, perfecting or continuing thls Deed of Trust, including wdhoutlimilalion
all taxes, fees, documenlaryslamps, and otNr charges for recording or registering this Deed 01 Trust.
Taxes. The foUowing snail conslilule \aXes 10 which.this section appties: (1) a specifiC tax upon Ihis type of Deed of Trusl or upon all or any part
of the Indebtedness secured by this Deed 01 Trust; {2} a specific lax on Borrower wt1ich Borrower is lIuthoriled or required to deductlrom
payments on Ihe Indebtedness secured by this type ot Deed of Tl'\ISt; (3) a lax on this type of Deed 01 Tru!l.t chargeable against the Lender Of the
--holder 01 the Note; and-(4)-a specific tax on ah or any portion 01 the tndebletlness Of on ~ymenls of principal and interesl made by BOfnlWer.----
Subsequent Taxes. It any tax \0 which this section applies is enacted subsequent to the date of Ihis Deed ofTrusl, lhis evenl shall have the same
effect as an Event of DefaUlt, and Lender may exercise any or all 01 its available remedies lor an Event 01 Defaul! as prolllded below unless Granlor
e;ther (1) pays the tax before il becomes delinquent, or (2) contests Ihe \all; as provided above in Ihe Taxes and Liens section and depCSits wilh
Lender C8sh or a sufficienl corpora!e surety bond Of other security salisfactory to Lender.
SECURITY AGREEMENT; FINANCING STATEMENTS. The roDawing provisions relating to this Deed of Trusl as a security agreement are a part of
this Deed 01 Trusl:
Security Agreement. This instrument shall cOnslitute a Security Agrllement 10 the extent any of the Property constilules ftxturas, end lendar shall
have all of fhe righls at a secured party under Ihe Uniform Commercial Code as amended from time 10 time,
Security Inleres!. Upon request by Lender, Grantor shall lake whatever aclion Is reQuesled by Lender to pertact and continue Lender's security
Interest ill IJJe Rents alld Parsonal Property, tn addition 10 recording lhis Deed of Trust in the real property records, Lender may, at al'lY time and
without further aulhorization Itom Grantor. r.e executed counlerparts, copies or reproductions 01 this Deed o! Trust as a financing statement.
Grantor sha)1 reimburse Lender lor aU expenses incurred in perlacting or continuing this security interesl Upon default, Granlor shall not remove,
sever or delach the Personal Property from the Property. Upon default, GrantOf shall assemble any Personal Property not affixed 10 lhe Property in
a manner and at Q place reasonably convenient to Grantor and Lender and make it available 10 Lender within Itves (3) days after receipt 01 written
demand !rom LQnder to the extent permilled bV applicable law.
Addresses. The mailing addresses ot Grantor (debtor) and Lender (secured party) from which infwma~Qn concerning the security interest
granled by thiS Deed ol Trusl may be oblail1ed (each as required by the Uniform Commercial Code) are es stated on the first page of this Deed of
Trost
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assUl'arx::es and attorney-in-facl are a part of this Deed
olTrus!:
Further A$surances. At any time, and from time to lime, upon ,.equesl 0/ Lender, Grantor wifI make, emctlle and deliver, IX wm cause 10 be
made, executed or delivered, to Lender or 10 Lender's designee, and when requested by Lender, C81J58 to be filed, recorded, reliled, or
rerecorded, as Ihe case may be, al Sl.lCh times and ill such offices and pll:lces as Lender may deem appropriate, any and aD such mortgages,
deeds of Irusl, secunty deeds, secUflty agreements, linanClflg slalaments. continuation slatements, instruments ot lunher assurance, certificates,
and other documents as may, in the sole opinion of Lender, be necessary or desirable in order 10 etlectuate, complete, perfect, cOntinue, or
preserve (l) Borrower's and Grantor's obllgaliOns under the Note, this Deed of Trusl, and the Related Documents, and (2) the liens and
securily interesls crealed bylhis Deed 01 Trust on Ihe Property, whether now owned or hereatler acquired by Grantor. Unless prohibiled by law or
Lender agrees to the contrary in writing, Granfor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred
to in Ihls paragraph.
Attorney-In-Fact. If Grantor fails to do any Ollhe Ihlngs referred to in Ihe preceding paragraph, lender may do so for arn:i in lhe name of Grantor
and at Granlor's expense. For such purpCl$8s, Granlor hereby irrevocably appoints Lender as Granlor's attomey-in-facl lor Ihe purpose of
makJng. e.xeculing, delivering, fiUng, recording, and doing aU other things as may be necessary or desirable, in Lender's sole opinion, to
accomplish the matlers referred 10 in lhe precQding paragraph.
FUl..L PERFORMANCE. If Borrower and Granlor pay alllhe Indebtedness when due, and Grantor olherwise performs all the ob6galions imposed upon
Grantor under Ihis Deed 01 Trust, Lender shall e.xecute and deliver to Trustee a request for full reconveyance and shall execule and deliver to Grantor
suitable statements of termination ot any financing stalement on file evidencing Lender's security interest in Ihe Rents and the Personal Properfy. Any
reconveyance lee required by law shall be paid by Grantor, il permitted by appticable law.
EVENTS OF DEFAUlT. Each oflha toI/ow;ng, allend8f'"s oplton, shall constilut!!! an Evant ot Default under lhis Deed of Trust:
Payment Oe'allll. Borrower IaUs to make any paymenl when due under the Indebtadness.
other Defaults. Borrower or Grantor tails 10 comply wilh w to perform any other Ierm, obligation, covenant or condition contained in Ihis Deed of
Tl'\ISl or in any 01 lhe Related Documents or to comply wilh or 10 perform Bny term, obl'sation, covenant or condition contained In any olher
Page 3 of 1
te Received:
OCT 2 0 2010
Origin I SUbmittal
-flmthony Smi th
Print Job Page?
10/20/2010
Document 2 of 2
.
Order:
F4610-1BOB6
.
Page 4 of 1
loan No: 170001549
DEED OF TRUST
(Continued)
Page 4
agreement between Lender and Borrower or Grantor.
Compliance Defaul1. Failure 10 comply with any olher term, obligation, covenanl or condition contained in this Deed of Trust, Ihe Nole or in any 01
Ihe Relaled Documfilnts.
Detaull on Onter Payments. Failure ot Grantor Wllhln lhB time required by this Dead 01 Trusllo make any paymeni for laxes or insurance. Of any
otherpaymet1t necessary 10 prevenl Iiling of or 10 eftecl discharge of any lien.
Environmental Deblull. Failure of any party to comply wilh or perform when due any term, obligation, covenanl or condihon contained in any
environmental agreement executed in connection with lhe Property.
Derautl In Favor 01' Third Parties. Should Borrower or any Granlor delault under any loan, exlension 01 credil, security agreemenl, purchase or
salas agreament, Of any otlter agreement, in favor of any other creddor or person lhal may malerially affect any of Borrower's or any Grantor's
property or Borrower's abilily 10 repay the IncleOtEldness or Borrower's or Grantor's ability 10 perlorm thelf respective obligations under lhis Deed of
Trusl or any of the Relaled Documents.
False Statemenls. Any warranly, repr85enlation or sIalament made or lurnished 10 lender by Borrower or Grantor or on Borrower's Of Grantor's
behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or al the lime made or
furnished or becomes false or misleading al any lime lhereafter.
Defective CoIlaterallzatlon. This Deed of Trusl or any 01 the Related Documenls ceases to be in lull lorce and effect (including failure of any
collaleral document to ersale a valid and perfecled security inlerElSt or lien) at any lime and lor any reason.
Deeltl or Insolvency. The dissolution 01 Grantor's (regardless of whelher elaclion to continue is made), any member withdraws trom tha limiled
liability company, Of any other lerminalion ol Borrower's or Grantor's exislence as a going busil18SS or Iha dealh 01 any member, the insolvency 01
Borrower or Granlor, the appoinlment of a receiver tor any pan of Borrower's or Grantor's property, any assignment lor ttle bBnafil 01 credilOl$, any
type of creditor workout, or the commencement 01 any proceeding under any bankruplcy or insolvency laws by or against Borrower or GranlOf.
Creditor or F~IUre ProceedingS, Commencement of foreclosure ()( lorfeilure proceedings, whether by judicial proceeding, self-nelp,
repossession or a.ny oltter melhod, by any creditor 01 Borrower or Grantor or by any governmental a9BJ1(:y egainst any property securing lhe
Indebtedness.. This includes a gamlshment 01 any 01 Borrower's or Granlor's accounts, including depasll accounts, with Lender. However,lhis
E:venl of De1au!f shaff no! apply it there is a good faith dispute by Booower or Granlor as to the validity or reasonableness of the claim which Is the
basis of lhe creditor or lor!e;IUle proceeding and if Borrower or Gfantor give'; lender wrilten notice of the crWilor or lorteiture proceediog and
deposits with Lender monies or a surely bond lor the creditor or forfeilure proceeding, in an amount dalermined by lender, in its sole discretion.
as being an adequate reserve or bond for the d~ule.
Breach of Other Agreement. Any breaCh by Borrower or Grantor under the terms 01 any other agreemenl between Borrower or Granlor and
lender that is nol remedied wilhln any grace paned provided therein, Including wilhoutlimilation any agreemenf concerning any indebtedfUlSS or
other ob~galion at BOfTOWElf or Grantor to lender, whether existing now orlaler.
Events AnecUog Guaran1or. Any of lhe preceding events occurs witll respect to any guarantor, endorser, surety, or accommodetion party of any
ollhe Indebtadness or any gusranlor, endorser, surely, Of accommodation party dies or becomes incompetent, or revokes or dispulas Ihe validily
of, or liability unoor, eny Guaranty 01 lhe Indebtedness.
Ad~se Change. A maleriaJ adve1se change occurs in Borrower's or Grantor's ftnancia1 condi60n, Of Lender believes lhe prospec1 of payment or
per10rmance of the Indebtedness is impaired.
Insecurity. lellder in good faith believes IlseIf Insecure.
Exlsllng Indebt~ess. The paymem 01 any Installmenl 01 principal or a~ inleresl on the Eltisting tndebtedness is not made within the lime
required by the promissory note evidencing suclt indebledness, or a defaulf OCCIJl1; under lhe inslrument securing such indebtedness and is not
cured during any appQcable grace period in wch instrument, or any suil or other action is commenced to loreclose MY eltisliog lien on Ihe
Property.
RIGHTS AND REMEDIES ON DEFALLT. II an Event of Defaull occtr.; under lhis Deed of Trusl, at any timathereaner, Trusl8e or lender may exercise
anyone or more of tltlil follOWing rigltts and remedies:
E1ecUon of Rert'ledles. Election by Lender to pursue any remedy shall not BJ(Clude pursuit 01 any other remedy, and an election 10 make
8Xp9f1ditures or to lake acUon /a perlrxm an DbJJgaIiOll of Granlor under this Deed 01 Trust, after Grantor's failure to perform, shall not affect
Lender's right 10 declare a delaull and exercise ils remedies.
Aceelerale IndetJledness. lender shall have Ihe right at its opllon without notice to Borrower or Granlor to declare the entire Indebtedness
immedialely due ~nd payable, including Elny prepayment penally Which Borrower would be required to pay.
Foreclosure. With ,espect to aa or any part ollhe Real Property, the Trustee shElII hava the rigltllo foreclose by notice and sale, Elnd lender shall
have Ihe righllo foreclosa by judicial foreclosure, In either casa in accordance with and to the full QX\Bnt provided by applicable law. II Ihis Deed
of Trust is lorectosad by Judicial foreclosure, Lender will be entiUed 10 a jUdgment which wiU provide 11t81 lithe foreclosure sale proceeds are
insullicient to satisly the iudgmenl, execution may issue fOf" tile amount of lhe unpald balance of lite judgment.
UCC Remedies. Wilh respect 10 all or any parl of the Personal Property, Lender shan have altlhe rights and remedies of a secured party under
Ihe Unitorm Commercial Code.
Collect Rents. lender shaH have 1M right, Wi/hout notice !D BDaowe- or Granlor 10 take possession 01 and manage lhe Property and collactlhe
Rents, Including amounls pasl due and unpaid, and apply the net proceeds, over and above lender's costs, againsl the Indebtedness. In
lur1herallce of Ihis right, lender may require any tenant or olher user of the Property to make payments ot rent or use fees directly 10 lender. II
Ihe Rents are collecled by lender, then Grantor irrevocably designates lender as GranIer's allorney-in-lacl to endorse Inslruments received in
payment thereol in the name of Granlor and to negotiale lhe same 8I1d eOllect the proceeds. Payments by lenanls or olher users to lender in
response to Lender's demand shall sa~sfy the obligations tor which the payments are made, whether or not any proper groonds tor the demand
existed. lender may exercise its righls under this subparagraph either in person, by agent, or through a reoalver.
Appoint ReceIVer. Lender shall hevothe righlto have a receiver appointed to take possession 01 ell or any pari 01 the Property, wilh lhe power to
prolect and pr~erve Ihe Property, to operatel\le Prop&rty preceding for9dosure or sale, and 10 collec! the Rents born the Propeny and apply the
proceeds, over and above lhe cosl of Ihe receivership, against Ihe Indehledness. The receiver may serve willtout bond if permitted by law.
Lender's right to Ihe appointmenl ot a recelver shall exist whelher or not the apparent value of the Property exceeds the Indebtedness by a
subslarllial amount. Employment by LeIlder Shall not disqualify e person from serving as a receiver.
Tenam::y at: Sunerance. II Granlor remains in possession 01 the Property after lhe Property is sold as provided above or lender otherwise
becomes entitled to possession oltha Prop8fty upon default 01 Borrower or Grantor, Grantor shall beco~ a lenant al suHerance of lender or IIta
purchaser of the Property and shan, at lender's option, either (1) pay a reasonable rental lor lhe use 01 the Property, or (2) vacate the Property
Immedialely upon the demand 01 Lender.
Other Remedies. Truslee or lender shaM heve eny olher right or ramedy provided In lhis Deed 01 Trust or the Nole or ava~abte at law or in
equity
NoUce of Sale. lender shan give Granlor reasonable notice 01 the lime and place 01 any pubuc sale of lhe Personal Property or of the lime after
which any privale sale or other intended dlsnositiofl of the Personal Property is 10 be made. Reasonable nollce shall mean notice given alleast
fifteen {15} dayS before the time of fhe sate 0' disposition. Any sale offhe Personal Property may be made in conjunction wilh any sale 011he Real
"'''''''''.
Sale olltla Property. To the extent permitled by applicable law, 8orrowtlr and GraniC( hereby waives any and all righl$ f.o hava the Proparly
marshalled. In exercising Its rights and remedies, the Truslee or lender shall be !roe 10 sell an or any part 01 the Property together or separately, in
one sale or by separate sales. Lender shall be entitled to bid al any public :sale on aD or any portion ollha Property.
Anomeys' Fees;- Expenses. If Lender institules any sUll or action to enforce any ollhe terms of lhis Deed of Trust, Lender Shall be enlil\ed to
recover SUCh sum as the caun may adjudge reasonable as attorneys' lees at trial and upon any appeal. Whelher or nol any court action is
Involve_d, end, lo the llxlent nol prohibited by law, aU reasonabkl EIl<Pense5 Lellder incurs lhat in lender's opinion are necQSS3ry at any time tor tlla
protectiOn 01 Its inlerest or the enforcement of lis righls shaM become Il. part 01 thEllndabtedness payable on demand and shan bear InlQffiS\ at ItIe
Nole rate Ifom the dele 01 lhe expendilure Until repaid. Expanses covered by tl1~ paragraph include, without limitation, howevtlr subjecllo any
limits under applicable law, Lender's ettorneys' leas and lender's. legal expenses, whefher or nollhere IS a lawsuil, including allorneys' fees and
expenses for bankruptcy proceedings (including effOrts to modily or vacate any automatIC slay or inJUnctIOn), appeals, and any an\icipaled
post-judgment collection ServICeS, the cost of searching records, obtaining tllJe reports (incluOing foreclosure reports), surveyors' reports, and
ate Received:
OCT 2 0 2010
Anthony Smi th
Origin I Submittal
Print Job Page 8
10/20/2010
'Document 2 of 2
.
.
Order:
F4610-18086
Page 5 of 1
loan NO:'170001549
DEED OF TRUST
(Continued)
Page 5
appraisal lees, tUa InSUfance, and lees for the Trustee, 10 the extent permilled by applicable law. Grantor also wi" pay any court costs, in add~ion
10 all olh.ersums provided bylaw.
Rights of Trustee. Trustee shall have all of the rights and duties 01 Lender as set forth in this section.
POWERS AND OBliGATIONS OF TRUSTEE. The following provisions relating 10 the pOW61'S and obligations of Trustee are parl of'lIis Deed 01 Trust
Powers of Trustee. In addilion to all powers of TMtae arising 115 a matler allaw, Trustee shall have the power 10 take the following acHons wllh
respect to the Property upon lhe writlen request of Lendet and Grantor: (a) join in preparing and filing a map Dr pial 01 the Real Property,
including the deliica~on of streets or other rights to the pub~c: (b) join in granting any Basement or creating any restriction on the Real Property;
and (e) join in any subordination or other agreement aflacting this Deed of Trust Of tlUllnteresl 01 Lender under this Deed 01 TillS!.
Obllgalions 10 NoUry. Trustee shall no! be obUgated to nolify any oltler party 01 a pending safe under any other trust deed or lien, or 01 any aClion
Of proceeding in which Grantor.lendBr. or Trustae shaft be a party, urrless lhe action or proceeding is brought by Trustee.
TtUSCee. Trustee Shan meet all-qualificatlons required lor Truslee under applicable law. In addition to the righls and remedies sellorth above,
wilh respect 10 all or any part 01 lhe Property, the Truslee Shan have Ihe righl to loreclose by notice and sale, and Lender shall have Ihe righllo
foreclose by Judicial foreclosure, in either case in eccordance with and to lhe lull extent prOVided by appUcable law.
Successor Trustee. Lender, at Lender's option, may Irom time 10 lime appoint a successor Truslee to any Trustee eppoinled under this Deed 01
Trusl by an inslrumenl executed and acknowledged by Lender and fBCOtded In tl'le office 01 the recorder of Lane Counly, Stale of Oregon. The
instrumenl shall contain, in addition to all other malt~ required by state law, the names 01 lhe ooginal Lender. Truslee. and Granlor.lhe book and
page where this Deed 01 Trust is recorded, and Ihe name and address 01 ths successor trustee, and the instrument shan be executed and
acknowledged by Lender or iIs successors in inleresl. The successor lruslee, without conveyance 01 the Property. snail succeed fo all the title,
power, and duties conferred upon Ihe Trustee in this Deed 01 Trusl and by applicable law. This procedure for subshlulion 01 Trustee slulll govern
to the exclusion 01 all olher provisions forsubsfitution.
NOTICES. Any notice required to be given under lhis Deed 01 Trust, including wilhout ~milalion any notice of demun and any n06ce 01 sale shall be
given in .....riting. and shall be ~ when actually delivered, when actuaHy received bi lelelacslmile (unless olherwise required by law). when
depO$itedwt\h a nationally recognized overnighl courier. or, iI mailed, when deposited in the Uniled Stales mail, as firsl class. certified or registered mail
postage prepak:l, cfirected 10 the adctresses shown near the beginning of ttis Deed of Trust. AU copies of notices of loreclosure from \he holder of any
lien which has priority over lhis Deed of Trust shalt be S60t to lender's address, as shown near the beginning 01 this Deed of Trust. Any party may
change ils address lor nolices under lhis Deed 01 Trusl by gMng formal wrillen notice to lhe olher parties, specifying that the purpose olltle notice is to
change the party's address_ For notice purposes, Granlor agrees to keep Lender Inlormed at an limes 01 Grantor's currenl address. Unless oIherwise
provided Or required bylaw, if there is more than one Grantor, any nollce given by Lender 10 any Granlor Is deemed 10 be notice given 10 all Grantors.
NOTICE OF FINAL AGREEMENT. ORAl. AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR
FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABlE UNDER WASHINGTON LAW.
MISCEllANEOUS PROVISIONS. The lollowing misceltaneous provisions are a part 01 this Deed 01 Trust:
Amendments. This Deed of Trusl, logether with any Related Documents, conslilutes the enUre underslanding and agreement otlhe parties as to
the mailers sel forth in this Deed of Trust. No alleration 01 or amendmenllo this Deed of TMt shall be effeclive unless given in wriling and signed
by the party or parties sought to be charged or bound by the alleration or amendment
Annual Reports. If the Property is used lor purposes other 'han Grantor's residence, Granlor shalllumish to Lender, Upon request, a ~ilied
statement 01 nal operating income raccivad Irom Ihe Property duting Granlor's previous fiscal year in such form and detail as Lender shall require.
"Nel OJ)eraling income" shall mean all cash receipts Irom the Property less all cash expendilures made in conneclion with Ihe operalion oIlhe
Pmperty.
Caption Headings. Caption headings in this Deed ot Trusl are for convenience purposes only end are not to be used to inlerprel or define the
provisions 01 Ihis Deed olTrusl.
Mergef'. There sllaU be no merger 01 the inleresl or estate created by this Deed 01 Trust wilh any other interest or eslate in lhe Property al any
time held by or lor the benefil of lender in any capadty, without the writlen consenl 01 Lender.
Governing law. Wllh respect 10 pfOcec:turat matters relDled to the perlecUon ilnd enforCement 01 Lender's tights against the Property,
Ihls Deed of Trust will be governed by federal law applicable 10 Lender IInd to the exlertt not preempted by fedelllllaw, the'laws of the
StDle of Oregon. In alt othet respects, this Deed of Trust will be governed by federal law applicable to Lender and, 10 ttle extent not
preempted by Iederallaw, the laws of the StDle of Washinglon without regard to lis confficts of law provisions. However, If lhere ever is
II quesllon about whether any provision 01 thiS Deed of Trust Is valid or enforceable, the provision thaI Is questioned wiU be governed by
whichever slate or federa! law would find the provision 10 ~ valid and enlofceable. The loan transaction that Is evtdenced by the Nole
andlhls Deed or Trust has been applied ror. considered. approved lIJld made. and all necessary loan documents have been accepted by
Lender In the Slate or Washington.
ChoIce or Venue. If lhete is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdicUon 01 the courts of King County, Stale of
Washington.
Jolnl arn:I Several liability. All obligations of Borrower and Grantor under this Deed 01 Trl.lSl Shalt be joint and several, and aD references 10
Grantor shall mean each and every GtantOf. and all references 10 Borrower shalt mean each and 9'Jery Borrower. This means lhat eaCh Grantor
signing below is responsible lor aU obligations in Itlis Deed 01 Trust Where any 0119 or more of the pstlies is a ctlrporation. partnership. ~miled
liability company or similar entily, it is not necessary lor Lender 10 Inquire inlo the powers 01 any 01 the offieers, directors. partners. members, or
other agents acting or purporting 10 acl on too en~ly's behalf. and any obligations rnacle or created in relhmca upon Ihe prolessed exercise 01 such
powers shan be guaranteed under Ihis Deed 01 Trust.
No Waiver by lender. Lender shall not be deamed to have waived any rights under this Deed of Trusl unless such waiver is given in writing and
signed by lendel". No delay or omi$sion on the par1 01 Lencler in exerciSing any righl Shall operate as a waiver 01 such right or any other right. A
waiver by Lender 01 a proviSion of Ihis Deed 01 Trusl shall not pn!judice or constitute a waiver of lender's right otherwise 10 demand stricl
compliance with lila' proVision or any olher provision 01 this Deed ot Trust. No prior waiver by Lender. nor any course at dealing between lender
and Grantor, shall constitule a waiver of any of lender's r10ghls or 01 any 01 Granlor's obligations as 10 any Mure transactions. Whenevet the
consent 01 Lender Is required under this Deed 01 Trust, Ihe granting 01 such consenl by lender in any inslance shel nol constitute continuing
consenllo subsequent instances where SUCh consent is requirod and In all cases such consent may be granled or wilhheld in Ihe sole discretlon
01 lender.
severability. Jt a court 01 compelenl jurisdiction rinds any provision of this Deed of Trust 10 be illegal, invalid, or unenforceable as 10 any
circumstance. thai finding shaU 1'101 maka theollending prOVision 1IIega!. invalid, or unenlorceabfe as 10 any other. circumslance. If feasible, lhe
offending provision shall be conslderB(l modified so that II becomes legal, valid and enlorceable. IIIIUl offending provision cannol be so modified,
II shaH be considered deleted from this Deed 01 Trust. Unless oltlerwise required by law, the ittegality. tnvalidity. or unenlorceabitlty 01 any
provision of this Deed 01 Trust shall not affecllhe legality. va/idily or entorcaebility ot any other provision 01 this Deed 01 Trust.
Successors anti Asslgn$. Subjecf 10 any limllations slated in lhis Deed of Trusl on transler 01 Grantor's inlerest, this Deed 01 Trusl Shall be
binding upon and inure to !he benefil of lhe parties, their succ$ssoI's and assigns. If ownership 01 tha PrOperty becomes vesled in a person other
than Granlor, Lender, wllhoul neb 10 Granlor, may deal with Granlor's successors with reference to lhis Deed 01 Trust and the Indebtedness by
way of lorbearance or exlaosion without releasing Grantor from the obligaUons 01 this Deed 01 Trust Of liabIlity under the Indebtedness.
Time is of the Essence. Time is of the essence in the per10rmance of \Ilis Deed 01 Trusl.
Waiver of Homestead Exemptlon. Granlor hereby releases and waives all rights and benefits 0' lhe homestead exemption laws. 01 the Slate 01
Oregon as 10 all Indebtedness S8CUfed by IhiS Deed of Trust.
Commerctal Deed or Trust. Granlor agrees With Lender lhat this Deed otTrusl is a commercial deed 01 trusl and that Granlor wi! not change lhe
use 01 the Property wHhout Lender's prior written COf\S8l'lt.
DEFINITIONS. The following capilalized words and terms shaD have Ihe following meanings when used in this Deed 01 Trust Unless specificaDy
staled to the conlTary, all references 10 dollar amounts shall mean amounts in lawful money ollha United StaleS at Am9rica. Words and terms U$(ld in
Ins singular shall include tile plural, and the plural sharr Include Ihe singulat. as the context may require. Words and terms not otherwise defined In this
Deed of Trust shall have the meanIngs attributed to sucl1lerms in me Unilorm Commefcial Code:
Beneftclary. The word 'Beneficiary" means FOUNDATION BANK. and its successors and assigns.
BorrOWl!1. The word 'Borrower"' means Mark S. McDonald and includes alt co-signers and co-makers signing the Note snd all their successors
Date Received:
OCT 2 0 2010
Orig! al Submittal
Anthony Smith
Print Job Page 9
10/20/2010
,.
.
.
bocument 2 of 2
Order:
F4610-18086
loan No: 170001549
DEED OF TRUST
(Continued)
Page 6
a.ndasslgns.
Deed 01 'frust. The words "'Deed of Trust" mean thiS Deed 01 Trust among Grantor, Lender, and Trustee, and includes without Ilmitalian an
assignment and security int8f8$t provisions relating 10 the Personal Proparty and Renls.
Default. The word "Default" means the Default set fonl1 in this Deed 01 Trust in the section tilled "Oefaull".
Event olDefaull. The words "Event of Defaulr mean any of lhe events 01 detaull set forth in this Deed of Trust in the events 01 delaull seelian of
IhisDaedolTrusl.
ExIsting Indebtedness. The words "Existing !ndeb'edness~ mean the indebtedness described in the Existing Uens provision of Ihis Deed 01
Trust.
Grantor. The word "Granlor" means SPRINGFielD V, Ll.C.
Guaranty. The word -nuaranty" means the guaranty from guarantor, endorser, surety, or accommodation party 10 Lender, Including wilhoul
Hmllation a guaranty at all or part of the Note.
Improvements. The word improvements" means all exis~ng and fUture Improvemenls, buildings, structures, mobile homes affixed on lhe Real
Property, faci~lias, additions, replacements and other construction on the Real Property.
Indebtedness. The word indebtedness- means all principal, Interest, and othet amounts, costs and expenses payable under the Note or Related
Documents, together with ad renewals of, extensions of, modiftcations of, consolidations 01 and substitutions tor Ihe Nole or Related Documents
and any amounts expended or advanced by Lender to (liSCharge GrantOl's obligations Of expenses incurred by Trustee or Lender to enloree
Grantor's obltgations under this Deed 0\ Trust, together with interesl Oil such amounts as provided In this Deed 01 Trust.
Lender. The word ~ender" means FOUNDATION BANK, its successors and assigns.
Note. The word "Note" means the promiSsory nole dated June 25, 2009, in the original principal amount of $1,250,000.00 from
BOITower 10 Lender, together with all renewats of, extellSions 01, modifications 01, refinancings of, consolidations ot, and sUbstitutions for Ihe
promissory note or agreement. The maturity date 01 the Note is June 25, 2015.
Personal Property. The words "Personal Properly" mean aQ equipment, fixtUf8S, and other articles 01 p9I"SOnal property now or herealler owned
by Grantor, and now or herealter attached or affixed 10 the Real Property: togstMr with all accessions, parts, and additions 10, all replacements of,
and all substitutions lor, any 01 such property; and togethOr with all proceeds (inclucliog wilhoullimilation all insurance proceeds and relunds 01
prelTliumsJ from any sale Of other msposlllon ot lhe Property.
Property. The word "'Property" means collactiwly the Real Property and the Personal Property.
Real Property. The words ~ee1 Property" m&anlhe real property, interests and rights, as IUrlher descrilJed in this Deed 01 Trust.
Relaled Documents. The words 1'lelated Documents- mean all promissOl')l notes, cred~ agreements, loan agreements, environmental
agreements, guaranties, security agreements, mor1gages, deeds of lrust, security deeds: collateral mortgages, and all other instrumants,
agreements and documents, whelher now or hereaf\ef existing, executed in connacllon with the Indebtedness.
Rents. The word 1'lents- means an presenl and future rents, revenues, incnme, issues, royal lies, profits, and olher benefits derived from the
Property.
Trustee. The word 'Trustee- means Weslern Tille & Escrow Company of Lane County, whose address is 497 Oakway Road. Suite 340, Eugene,
OR 97401 and any substitule or successor truslees.
GRANTOR ACKNOWLEOGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND GRANTOR AGREES TO ITS TERMS.
GRANTOR:
By:
M3fk Danai, nager of SPRINGfiELD LLC
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
STATE OF wA I
COUNTY O~ I~.i 1/1 J ~ SS
Oil this ~ -ft-.:. <lay 01 ~....t/'LQ ,20~, before me, ttle undersigned Nolary Public, p6l1ionally
appeared Marlo: McDonald, Manager of SPRINafi~O l{,I..:tC, and known 10 me 10 be a member or designated agent of the Ilmrted liability company
thai executed lhe Deed at Trust and acknowledged Ihe Dood;ol Trust,lo oo;..the free and volunlary act and deed ollhe Ilmited liability company, by
alllh,orily 01 statute, its articles ot organization or its oP~tihg agreement; lor 'he USQS and purposes lherein mentioned, and on oalh stated that he or
:""'Ih. _'mi. 0 om~"odt'ot:~~'d1haD~dO~:~::=~~ompz:,A
~.J1. - ~commlsslonellplres O~ t/-=t ILl
',. , .r' f /
\i. -.,
"" "
-r,_".... .' ._,....
"'11.. ."_".....'
REQUEST FOR FULL RECONVEYANCE
(To be used only when obliga.ttons have been paid In lull)
~ ,~~
The undelSigned is the legal owner and holder 01 all Indebtedness secured by this Deed 01 Trust. AU sums secured by Ihis Deed 0\ Trusl have been
fully paid and satisfied. You are hereby directed, upon paymenl to you of any sums owing 10 you under the terms of this Deed of Trust Of pursuantlo
s,:y applicable slatute, to cancellhe Nota secured by this Deed of Trust (which is delivered 10 you togather with this Deed 01 TrustJ, and to reconvey.
Without warranty, to the partIeS designaled by the terms ollhis Deed of Trust, lhe estate now held by you under this Deed 01 Trust. Please maillhe
reconveyance and Related Documents 10:
Date:
BenenclGry:
By,
Its;
LASER PRO lending, Ver. 5.44.00.002 Copr. Harland Financial Solutions, Inc. 1997, 2009.
S:\LASERPRO\CF1\LPL\G01.FC TR-2661 PR-19
All Rights ReselVed
- ORfWA
Anthony Smith
Print Job Page 10
Page 6 of 1
ate Received:
OCT 2 0 2010
Orig al Submittal
10/20/2010