HomeMy WebLinkAboutAD05-332 - Original - Springboard Holdings, LLC - Deed of Trust - 09/14/2006 Return Recorded Document to.
Eugene W Wong
Lasher Holzapfel Sperry &Ebberson, PLLC
601 Union Street, 42600
Seattle, WA 98101-4000
DEED OF TRUST
Grantor: ERREZ,BEN
an unmarried person as his separate estate
Grantee: CENTURION FINANCIAL GROUP,LLC
a Washington limited liability company
Trustee- TITAN TRUSTEE SERVICES,INC.
a Washington corporation
Abbr. Legal Des: PTN GOVT LOT 3 SEC 6 TWP 24 N R 6 E VOL 1201 PG 465
Tax Parcel Nos 062406908400
THIS DEED OF TRUST, made this 14t1i day of September, 2006, between BEN ERREZ, an
unmarried person as his separate estate, GRANTOR, whose address is 2018 — 156th Avenue
N.E., Bellevue, WA 98007, and Titan Trustee Services, Inc , a Washington corporation, as
TRUSTEE, whose address is 601 Union Stieet, 42600, Seattle, WA 98101 and CENTURION
FINANCIAL GROUP, LLC, a Washington limited liability company, whose address is 10500
N E. 8th Street, #1825, Bellevue, WA 98004 WITNESSETH: Grantor hereby bargains, sells,
and conveys to Trustee in trust, with power of sale, the following described real property in King
County, Washington
Deed or Trust—Rl sidence(cm)
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C�CoOp�
THAT PORTION OF GOVEM4ENT LOT 3, SECTION 6, TOWNSHIP 24 NORTH,
RANGE 6 EAST, WM, IN KING COUNTY, WASHINGTON, AND SECOND CLASS
SHORE LANDS DESCRIBED AS FOLLOWS
BEGINNING AT AN IRON STAKE AT THE 'SOUTHWEST CQRNER OF THE TRACT
OF LAND CONVEYED TO C R BERRY BY DEED, AND RECORDED IN VOLUME
1201 OF DEEDS, PAGE 465, RECORDS''OF'KING COUNTY, 'WASHINGTON,
THENCE NORTH 51 DEGREES 20'00" EAST, 132.00' FEET TO THE TRUE
POINT OF BEGINNING, '
TH$NC$` SOUTH,18 DEGREES 30100" EAST, 59.50 FE8T,
THENCE NORTH 76 DEGREES 55'00" EAST, 74.50 =FEET-.TO-X-POINT
HEREIN REFERRED TO A POINT "A", THENCE NORTH 29'DEGREES 33 '32
WEST, BO FEET, MORE OR LESS, TO A POINT THAT E3ZAR.S NORTH 59
'_DEGREES 07144" EAST FROM THE TRUE POINT OF BEGINNING, -
THENCE SOUTH 54 DEGREES 07'44" WEST, 60.00 FEET, MORE OR LESS,
TO THE TRUE POINT OF BEGINNING,
Assessor's Property Tax Parcel/Account Number(s): 062406908400
which real property is not used principally for agricultural or fam3ing purposes,together with all
the tenements, hereditaments, and appurtenances now or hereafter thereunto belonging or in
anywise appertaining, and the rents, issues, and profits thereof
This Deed is for the purpose of securing performance of each agreement of grantor herein
contained, and payment of the sum of Eleven Million Four Hundred Thirteen Thousand and
No/100 Dollars ($11,413,000 00) with interest, in accordance with the terms of a promissory
note of even date herewith, payable to Beneficiary or order, and made by Springboard Holdings,
L L C , a Washington limited liability company ("Springboard"), and all renewals, modifications
and extensions thereof, and also such further sums as may be advanced or loaned by Beneficiary
to Springboard, or any of its successors or assigns, together with interest thereon at such rate as
shall be agreed upon
To protect the security of this Deed of Trust, Grantor covenants and agrees:
1. To keep the property in good condition and repair; to permit no waste thereof, to
complete any building, structure or improvement being built or about to be built thereon; to
restore promptly any building, structure, or improvement thereon which may be damaged or
destroyed; and to comply with all laws, ordinances, regulations, covenants, conditions, and
restrictions affecting the property
2. To pay before delinquent all lawful taxes and assessments upon the property; except for
the mortgage lien in favor of Bingo Investments, LLC, to keep the property free and clear of all
other charges, hens or encumbrances impairing the security of this Deed of Trust-
3 To keep all buildings now or hereafter erected on the property described herein
continuously insured against loss by fire or other hazards in an amount not Iess than the total
Deed or 7mst—Residence(CFG)
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debt secured by this Deed of Trust All policies shall be held by the Beneficiary, and be in such
companies as the Beneficiary may approve and have loss payable first to the Beneficiary, as its
interest may appear, and then to the Grantor The amount collected under any insurance policy
may be applied upon any indebtedness hereby secured in such order as the Beneficiary shall
determine Such application by the Beneficiary shall not cause discontinuance of any
proceedings to foreclose this Deed of Trust In the event of foreclosure, all rights of the Grantor
in insurance policies then in force shall pass to the purchaser at the foreclosure sale.
4_ To defend any action or proceeding purporting to affect the security hereof or the rights
or powers of Beneficiary or Trustee, and to pay all costs and expenses, including cost of title
search and attorney's fees in a reasonable amount, in any such action or proceeding, and in any
suit brought by Beneficiary to foreclose this Deed of Trust.
5. To pay all costs, fees, and expenses in connection with this Deed of Trust, including the
expenses of the Trustee incurred in enforcing the obligation secured hereby and Trustee's and
attorney's fees actually incurred, as provided by statute.
6 ShouId Grantor fail to pay when due any taxes, assessments, insurance premiums, liens,
encumbrances or other charges against the property hereinabove described, Beneficiary may pay
the same, and the amount so paid, with interest at the rate set forth in the note secured hereby,
shall be added to and become a part of the debt secured in this Deed of Trust
7. The property described in this Deed of Trust may not be sold or transferred without the
Beneficiary's prior consent.
IT IS MUTUALLY AGREED THAT:
1. In the event any portion of the property is taken or damaged in an eminent domain
proceeding, the entire amount of the award or such portion as may be necessary to fully satisfy
the obligation secured hereby, shall be paid to Beneficiary to be applied to said obligation
2 By accepting payment of any sum secured hereby after its due date, Beneficiary does not
waive its right to require prompt payment when due of all other sums so secured or to declare
default for failure to so pay
1 The Trustee shall reconvey all or any part of the property covered by this Deed of Trust
to the person entitled thereto, on written request of the Grantor and the Beneficiary, or upon
satisfaction of the obligation secured and written request for reconveyance made by the
Beneficiary or the person entitled thereto
4. Upon default by Grantor in the payment of any indebtedness secured hereby or in the
performance of any agreement contained herein, all sums secured hereby shall immediately
become due and payable at the option of the Beneficiary In such event and upon written request
Deed of must—Residence(CFG)
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of Beneficiary, Trustee shall sell the trust property, in accordance with the Deed of Trust Act of
the State of Washington, at public auction to the highest bidder Any person except Trustee may
bid at Trustee's sale Trustee shall apply the proceeds of the sale as follows: (1) to the expense of
the sale, including a reasonable Trustee's fee and attorney's fee, (2) to the obligation secured by
this Deed of Trust, and (3) the surplus, if any, shall be distributed to the persons entitled thereto.
5. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which shall
convey to the purchaser the interest in the property which Grantor had or had the power to
convey at the time of his execution of this Deed of Trust, and such as he may have acquired
thereafter Trustee's deed shall recite the facts showing that the sale was conducted in
compliance with all the requirements of law and of this Deed of Trust, which recital shall be
prima facie evidence of such compliance and conclusive evidence thereof in favor of bona fide
purchaser and encumbrances for value
6. The power of sale conferred by this Deed of Trust and by the Deed of Trust Act of the
State of Washington is not an exclusive remedy, Beneficiary may cause this Deed of Trust to be
foreclosed as a mortgage
7. In the event of the death, incapacity, disability or resignation of Trustee, Beneficiary may
appoint in witting a successor trustee, and upon the recording of such appointment in the
mortgage records of the county in which this Deed of Trust is recorded, the successor trustee
shall be vested with all powers of the original trustee The trustee is not obligated to notify any
party hereto of pending sale under any other Deed of Trust or of any action or proceeding in
which Grantor, Tiustee, or Beneficiary shall be a party unless such action or proceeding is
brought by the Trustee
8. This Deed of Trust applies to, inures to the benefit of, and is binding not only on the
parties hereto, but on their heirs, devisees, legatees, administrators, executors, and assigns, The
term Beneficiary shall mean the holder and owner of the note secured hereby, whether or not
named as Beneficiary herein
GRANTOR-
Ben Enez
Deed of Trust—Residence(CFG)
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STATE OF WASHINGTON }
) SS
County of KING }
I certify that I know or have satisfactory evidence that BEN ERREZ is the person who appeared
before me, and said person acknowledged that he signed this instrument and acknowledged it to
be his free and voluntary act for the uses and purposes mentioned in this instrument
DATED. September 14, 2006
.`�siek�o, ��,,�i. Name (typ or printed): Eyjt" kv. Alge A
NOTARY-PUBLIC in and f�he State of WA
Residing at Sea
`A CQ&w-ko -` My appointment expues �,—io-o7
Deed or Trust—Residence(CrG)
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t
REQUEST FOR FULL RECONVEYANCE
To be used only tiFhen all obhgations have been paid under the note and this Deed of Trust
TO: TRUSTEE
The undersigned is the legal owner and holder- of the note and all other indebtedness secured by
the within Deed of Trust Said note, together with all other indebtedness secured by said Deed of
Trust, has been fully paid and satisfied; and you are hereby requested and directed, on payment
to you of any sums owing to you under the terms of said Deed of Trust, to cancel said note above
mentioned, and all other evidences of indebtedness secured by said Deed of Trust delivered to
you herewith, together with the said Deed of Trust, and to recon�,ey, without warranty, to the
parties designated by the terms of said Deed of Trust, all the estate now held by you thereunder,
DATED-
Deed of Trust—Residence(CFG)
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