HomeMy WebLinkAbout20240402000337, Deed of Trust, Liao - ChanInstrument Number: 20240402000337 Document:DT Rec: 5314.50 Page-1 of 11
Record Date:4/2/2024 11:47 AM
Electronically Recorded King County, WA
AFTER RECORDING RETURN TO,
City of Auburn
Attention: City Attorney
25 West Main
Aubuni, WA 98001
Phone No, (253) 804-3108
DEED OF TRUST
Grantors: HUIPING LIAO; WAI PHENO CIIAN
Beneficiary: CITY OF AUBURN
Legal Description: LOT 45 OF LOT LINE REVISION KING CO
ESTATES NO, 3, ACCORDING TO -PLAT
RECORDED IN VOLUME 130 OF PLATS AT
PAGES) 12 THROUGH 16, INCLUSIVE, IN
KING COUNTY, WASIIINGTON
Assessor's Tax Parcel ID/I: 3874010450
Address: 3922 S 28411' Place, Auburn
Trustee: First Amerman Title
This Deed of Trust is made this (7_ day of :-M.r'rk_., 2024, between
I:IUIPING LIAO; WAI PHENG CHAN, both single persons, as Grantors, whose
addresses are 12230 SE 204th Street, Kent and
Washington, 9803; and First American 'Title, as Trustee, whose address is Madison
Centre, 920 Fifth Avenue, Suite 1200, Seattle, WA 98104 and the CITY OF AUBURN,
as .Beneficiary, whose address is c/o City Attorney, 25 West Main St., Auburn, WA
98001.
WITNESSETH: Grantors hereby bargains; sells, grants and conveys to Trustee in Trust,
with power of sale, the real property commonly known as 3922 S 284th Place Auburn
WA 98001. ("Property"), and which is legally described in Exhibit A,
together wItin all easements and other rights located thereon or appurtenant thereto, and
the tenements, hereditaments, and appurtenances now or hereafter belonging or in any
wise appertaining, and any part hereafter acquired by Grantor, and the rents, issues and
profits thereof, The Property conveyed Is not used principally for agricultural or farming
.purposes.
Grantor makes the foregoing grant to Trustee, an entity qualified as a trustee under RCW
G 1,24.010, to hold the Property In trust for the benefit: of Beneficiary, and for the purpose
and upon the terms and'conditions set forth.
Deed of'1Trtist
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THIS DEED Oli TRUST 1S FOR,
A. The purpose of securing the full, pro111pt and complete payment by
Grantors of all stuns of every nature due or to come due under the terms of the
proIl]issory note ("Note"), executed as part of it settlement agreement in cause "umbel'
21-2-02404-8, dated _t_ Ja aq, 2024, payable to Benefielary, in the
principal sum of one-hutldred, fifty-eight thousand, four -hundred, and ninety-two dollars
($158,492,00), together with interest and fees, and any modifications, extensions or
renewals thereof whether or not evidenced by .a new or additional promissory note;
together with any tales, assessments, insurance premiums, liens, encumbrances or other
charges attached to the Property and paid by Beneficiary. The principal sum owed is
payable according to the terms of the Note.
B The full, prompt and complete performance of all duties and obligations of
Grantor of any nature directly or indirectly arising under the terms, covenants, conditions,
obligations, duties, undertakings, agreements, representations, warranties and
responsibilitles arising under this Deed of Trust, including the timely payment of
property taxes, and any amendments or modifications thereto by agreement or coarse of
conduct;
C. The full, prompt and complete payment to Beneficiary of all costs and
attorney's fees incurred by Beneficiary and/or Trustee, for t11e benefit.of Beneficiary, in
the enforcement against Grantors of Beneficiary's rights, and Grantors' duties and
obligations under this Deed of Trust; and
D. Performance of each covenant and obligation on the part of Grantors to be
performed pursuant to the Settlement Agreement dated w fit, —i, 2024, which is
incorporated herein by this reference. Any breach or default with respect to the
obligations of the Grantors under the Settlement Agreement shall also be deemed a
default by the Grantors udder this Deed of Trust, and shall entitle Beneficiary, in addition
to any and all rights and remedies to which Beneficiary may otherwise be entitled, to all
rights and remedies set forth in this Deed of Trust,
The duties and obligations set forth in Subparagraph A through Subparagraph D hereof
shall be referred to collectively as the "Obligations".
TO PROTECT TIIE SECURITY Or TI:IIS DEED Or TRUST, GRANTOR
COVENANTS AND AGREES:
1. Protection of the Property. To keep the Property and all buildings,
structures, vegetation, lawns, landscaping and other improvements thereon in good
condition and repair; to pernl.lt no waste or deterioration thereof; to not remove or
deinoli.sh the Property or any part thereof; and to comply with all laws, ordinances,
regulations, covenants, conditions and restrictions, whether public or private, of every
kind and character, and affecting the Propeny. Whether or not Grantors are residing oil
t11e Property, they shall maintain it in order to prevent the Property from deteriorating or
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decreasing in value due to its condition, Grantors shall promptly restore any building,
structure, vegetation, lawns, landscaping or other Improvement thereon which may be
damaged or destroyed unless Beneficiary detelluines 'pursua nt to section 3 that it is not
economically feasible, If insurance proceeds are insufficient to repair or restore the
Property, Grantors are not relieved of their obligation for the completion of such repair or
restoration.
2. Payment of Principal, Interest, Taxes, Liens, Finnes. To pay when due
the principal of, and interest on, the debt evidenced by the Note' and any late charges due
under the Note. No offset or claim which Grantor might have against Beneficiary shall
relieve Grantor fTorn making payments due under the Note and this Security Instrument.
To pay before delinquent all lawful taxes and assessments upon. the Property; to timely
pay'all charges .imposed by any publio authority or utility that may become a lien upon
the property; and to pay all fines, impositions and mandatory community association
dues, fees and assessment attributable to the Property.
3. :Property Insurance. Grantor shall keep the Property, including ail
buildings now or hereafter erected on the Property, contintnously.insured against loss by
fire or other hazards In all amount not less than the total debt secured by this Deed of
Trust and to cause Grantors' insurer for the .Real Property to name Beneficiary as an
"additional insured" under all policies of property loss insurance. As to the interest of the
Teneficiary, the insurance shall not be invalidated by any. act or neglect of the Grantor,
The insurance carrier providing the insurance shall be chosen. by Grantors subject to
Beneficiary's right to disapprove Grantors' choice of carrier and/or policy, which right
shall not be exercised unreasonably and shrill not be exercised at all if any beneficiary of
a superior deed of trust has Identified the carrier. Upon request, the Grantors shall deliver
to Beneficiary a copy of all such policies and renewal certificates/notices and receipts, If
Grantors fail to maintainn, insurance as described above, Beneficiary may obtain insurance
coverage. at Beneficiary's option and at an amount determined by Beneficiary. Any
amounts disbursed by Beneficiary under this section shall become additional debt of
Grantors secured by this Deed of Trust. These amounts shall bear interest at the Note rate
from the date of disbursement and shall be payable, with such interest, upon notice from
Beneficiary to Grantor.
Fallure 1?y Grantor to abide by this section shall constitute a material breach of
this security instrument and. the Note warranting Beneficiary, at its option, to.declare all
outstanding stuns owed on rite Note to be immediately due and payable and exercise any
of its default rights In the Note and this deed of trust,
In the event of loss, Grantors shall give notice 'to the insurance carrier and
Beneficiary. Beneficiary may make proof of loss if not node promptly by Grantor,
Unless Beneficiary and Grantors otherwise agree In writing, any insurance proceeds,
whether or not the underlying insurance was required by Beneficiary, shall be applied to
restoration or repair of the Property if restoration or repair Is economlotilly feasible and
Beneficiary's security is not lessened, .If the restoration or repair is not econorttically
feasible or the Beneficlary's Security would be lessened, the insurance proceeds shall be
applied to the stuns secured by this Deed of Trust, whether or not Ilien due, with the
excess, If any, paid to Grantors,
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In the event of property loss that results in tilt Grantors obtaining any
compensation, settlement, award of damages or proceeds paid by any third party (other
than insurance proceeds from Grantors' property insurance); the provisions of section 3
shall apply as if the compensation, settlement, aware or proceeds were insurance
proceeds referred to in that section 3, In the event that Grantor abandons the Property
and fails to respond within 30 days to it notice from 13enefciaty that the insurance carrier
has offered to settle a claim, or if 13eneilclary acquires the Property, Grantor assigns to
Beneficiary Grantor's rights to any insurance proceeds or third party conipensati.oa riot
obligated to a superior lien holder in an amount not to exceed the amounts unpaid tinder
the Note. In such circumstance, the Grantor also assigns to Beneficiary any other of
Grantor's rights under the insurance policies insofar as the rights are applicable to the
coverage of the Property, Beneficiary may use any proceeds either to repair or restore the
Property or to pay amounts unpaid tinder the Note or this security instrurnertt, whether or
not thehi due.
4. Protection- of Beneficiary's Interest, To promptly notice Beneficiary of
and. 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 Benef clang to foreclose this Deed of Trust.
Should Grantors fail to pay when due any taxes, assessments, insurance
premiums, Iiens, eliqumbrances 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 from the date of disbursement; shall be added to and become a part
of the debt secured in this Deed of Trust payable upon notice from Beneficiary.
5. Costs of Enforcement, 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.
G, Free of Encumbrances, To ensure that iio liens or enciimbratices,
whether. superior or inferior to this need of Trust, other than liens and encumbrances of
record upon the date of execution hereof, be created .or suffered to be created by Grantor
during the life of.this Deed of Trust without Clio prior written consent of Beneficiary,
7, Discliarge of Liens. To pronptly discharge any lienthat attached -to the
property after the date of execution of this instrument and which has priority over this
Instrument, If Grantors are aware that. the Property is sulUject to it licit that can attain
priority over this Instrument, they must give Beneficiary notice identifying the lien. If
Beneficiary so demands In writing, Grantors sliall satisfy the lien within 10 days or take
one of the following actions: (a) agreeing in writing to the payment of the obligation
secured. by the lien in a manner acceptable to Beneficiary, but only as long as Grantors
are performing such agreement, (b) coiltest'ing the lien in good faith by, or defending
against enforcement of the lien in, legal proceedings which, in Beneficiary's discretion,
operate to prevent enforcement of the lien while those proceedings are pending, but only
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until such proceedings ate concluded; or (c) securing front [lie holder of the Bell till
agreement satisfactory to Beneficiary subordinating the lien to this instnanent,
8, Hazardous Substances, To not cause or permit the presence, use,
disposal, storage, or release of any Hazardous ,Substances oil or in the Property, Grantor
shall clot do nor knowingly allow anyone else to do , anything affecting the Property (a)
that is in violation of ally Washington or federal .laws relating to health, safety or
environmental protection„ or (b) which creates a condition that can cause, contribute to,
or otherwise trigger an state or federally required environmental remedial action,
response, or removal action, or (c) which, due to the presence, use, or release of a
Hazardous Substance, creates a condition that adversely affects the value of the Property.
This section shall not apply to the presence, Ilse, or storage on the Property of small
quantities of hazardous Substances that Eire generally recognized to be appropriate to
normal residential uses and to maintenance of the Property (including, but not limited to,
hazardous.. substances in consumer products), "hazardous Substances" are those
substances .defined by. federal and Washington State law as toxic or Hazardous
substances, pollutants, or wastes,:and including kerosene, other toxic petroleum products,
toxic pesticides and herbicides, volatile solvents, and materials containing asbestos.
17' IS MUTUALLY AGRP.LI) THAT;
1. Eminent Domain, 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 is assigned to
Beneficiary and shall be paid to Beneficiary to be applied to said obligation. Any excess
reward beyond the satisfaction of the underlying debt shall be returned to the Grantor,
2, Waiver, 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. Any forbearance by
Beneficiary in exercising any right or remedy, including accepting payments in amounts
less than the amount then due, shall not be a waiver of or preclude the exercise of any
right or remedy.
3, Reconveyance. The Trustee shall reconvey all or any part of the Property
covered by this need of Trust to the person entitled thereto on written request of the
Grantor and the Beneficiary, or upon satisfaction of the obligationsecured and written
request for reconveyance made by the Beneficiary or the person entitled thereto, The
Grantor sha.11 pay any recordation costs and a $230 Trustee's fee for preparing the
reconveyance.
4, Default, Upon default by Grantors in the payment of any indebtedness
secured hereby or in the perfor'niance of any agreement secured hereby or contained
herein, Including any default by Grantors under any term, condition or provision of the
Settlement Agreement or Proinissory Note, and after notice from Beneficiary setting; forth
the default and requiring cure of such default: within thirty (30) clays of the date of service
1)ced of 1i ist
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or mallinng of such notice, Beneficiary may commence all remedies available to it and
may declare that all sums secured hereby shall immediately become due and payable. in
such event and upon written request of Beftefelary, Trustee shall sell the Property, in
accordance with the Deed of Trust Act of the State of Washington (61,211 RCW), at
public auction to the highest bidder, Any person except Trustee .may bid at Trustee's sale,
including Beneficiary,
If Beneficiary invokes the power of sale, it shall take such action regarding notice
of sale and shall give such notices to Grantor and to other persons as state and federal law
nzay require. Trustee may postpone sale of the Property for a period or periods permitted
by law by public announcement at the time and place -fxed in the notice of 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 attoriney's fee; (2) to the obligations
(Promissory Note and Settlement Agreement) secured by this need of Trust; (3) the
.surplus, if any, shall be distributed to the persons entitled thereto, Trustee shall deliver to
the purchaser at the sale its deed, without warranty, which shall convey to the purchaser
the interest in the Property which. Grantors had or had the power to convey at the time of
their execution of this Deed of Trust, and such -as they may have acquired thereafter, the
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,
5. Other .Remedies. 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, at its sole discretion, this Deed of Trust to be foreclosed as a
mortgage, may confess judgment as authorized 'by the Note, or may pursue other
remedies as provided by law.
6. Substitute Trustee, In the event of the death, incapacity, disability or
resignation of .Trustee,. Beneficiary may appoint In writing, as permitted by law, 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 tinder any other Deed of Trust or of tiny action or proceeding In
which Grantors, Trustee or Beneficiary shall be a party unless such action or proceeding
is brought by the Trustee.
1, Actions Impairing Beneficiary's Interest. Grantors shall be in default if
any action or proceeding, whether civil or criminal; is begun that, in Beneficiary's
judgment, could result in forfeiture .of the Property or other material impairment of
Beneficiary's interest In the Property or rights tinder this Deed of Trust. Grantor can cure
such default by causing the action or proceeding to be dismissed with a ruling that, in
Beneficiary's judgment, prechides forfeiture of the Property or other material impairment
of Beneficiary's interest in the Property or rights underthis Instrument, The proceeds of
any award or claim for damages that are attributable to the impairment of Beneficiary's
interest in the property are hereby assigned and shall be paid to Beneficiary,
Deed offaisr
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If Grantor fails to perform tine covenants and agreements contained in this
instrument or is the subject of a legal proceeding that nilglyt significantly affect
8elleficiary's interest in the Property and/or rights under this instrument (such as a
proceeding in bankruptcy, probate, condenuiation or forfeiture, for enforcement of a lien
that may attairx priority over this Instrument), Beneficiary may do and pay for whatever is
reasonable or appropriate to protect Beneficiary's interest In the Property and rights under
this instrument, including protecting and/or assessing the value of the property, appearing
ill court, paying reasonable attorneys' fees to protect its interest, Any amounts disbursed
by Beneficiary under this section shall become additional debt of Grantors secured 'by,
this Deed of Trust. These amounts slialI bear interest at the Note rate from the date of
disbursement and shall be payable, with such interest, upon notice from Beneficiary.
8. Joint and Several. Grantors covenants and agrees that Grantors'
obligations and liability shall be johit and several.
9. Notices. All notices given by Grantor or Beneficiary in connection with
this Deed of Trust must be in writing. Any notice to Grantor shall be deeined to have
been given to Grantor when mailed by first class certified mail or when actually delivered
to Grantor's notice. address. Notice to any one Grantor shall constitute notice to all
Grantors, The notice address shall be the Property unless Grantor designates in writing a
substitute address by notice to Beneficiary, Grantor shall promptly notify Beneficiary of
a. change in address; There xnay be only one designated notice address at any one time,
Any notice to Beneficiary shall be given by delivering it or by mailing it by first class
mailto the City Attorney at the Auburn City Hall, 25 West Main Street, Auburn WA
98001-4998. Notice shall not be deemed to have been given to Beneficiary until actually
received by the City Attorney. Any applicable notice requirements in Washington law
shall preempt this section, Notices or communications permitted or required under this
Agreement will be written and delivered to tile following addresses:
10. Severability, In the event that any provision or clause of this Deed of
Trust or the Note conflicts with applicable law, such conflict shall not affect other
provisions of this Deed of Trust or the Note which can be given effect without the
conflicting provision. .
11, Transfer of Property, If all or any part of the Property, or any legal or
beneficial interest in the Property, is sold or transferred without Beneficiary's prior
written consent, Beneficiary may require immediate paymeint iii full of all stuns secured
by this Deed: of Trust, If Beneficiary exercises this option, beneficiary shall give Grantor
notice of acceleration. The notice shall provide a period of not less than 30 days from the
date of the notice within which Borrower must pay all suns secured by the Deed of
Trust, if Grantor fails to pay these sums prior to the expiration of this period, Beneficiary
may invoice any remedies permitted by this Deed of Trust and by law without further
notice or demand on Grantor.
1.2, Heirs and Successors, This Deed of Trust applies to and inures to, the
benefit of, and is binding not only on the parties hereto, but on their heirs, devisees,
Deed of Frilst
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legatees, administrators, executors and assigns. The terns Beneficiary shall rrtefnl the
holder andowner of the Note secured hereby, whether or not, named as Beneficiary
Herein,
13. 011111ership and Encumbrances, Grantors warrant that, except as
otherwise disclosed to Beneficiary in writing, Grantors are each a lawful owner of the
Property in fee simple without limitation on its fight to encumber and the Property is
unencuinbered except for encumbrances of record, Grantors warrants that they each have
legally vested interests in said Property and further warrants that they have full power and
authority to. enter into this Deed of Trust.
Dated. this -L day of _ r-k, , 2024.
GRANTORS
Hi,uping iao
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
I certify that I know or have satisfactory evidence that IPIA,,h 6146 is the
Berson 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 the instrument, and that he is the corporate officer authorized to sign this
document on behalf of the grantor.
A¢r.M e
DATED:FERRAN� � ��•
.���
Notary Public
Notary public
✓ ,
State of Waahington
Commission B 21005, 2
My Comm. Expires Doc 024
(Sig,r i )
NAME'
(print.namu)
Notary. Public .in and for the State of Washington.
Commission Expires: 11'L�/o " 7.x
Tweed orTriist
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V, ai I heng Chan
STATE Or WASHINGTON )
) ss,
COUNTY Or KING )
I certify that I know or have satisfactory evidence that I t,.jj 0Mj* 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 the instrument, and that lie is the corporate officer authorized to sign this
document on behalf of the grantor,
F
KI
Rtoni50, 2024
�< v
Yizheng Chen
STA'I'G Or WASHINGTON )
) ss,
COUNTY OIL KING )
C
' (signn ire) �
NAME:1 4vk>>
(Print name)
Notary Public in and for the State of Washington,
Commission Expires: [7. j-a,v2 1�1-
I certify that I know or have satisfactory evidence that / /gNA e. ► is the
person who appeared before ine, and said person acknm ledged that lie signed this
Instrument and aclorowiedged it to be his free and voluntary act for the rises and purposes
mentioned In the Instrument, and that he is the corporate officer authorized to sign this
document on belialf of the grantor,
Nola y HUNG DATfs17: ��Z!��%�� z
Notary Public
State of Washington
teed of 'USr Commission H 21002250
pHgc <) My Comm, Expires Dec 5, 207.4
Instrument Number: 20240402000337 Document:DT Rec: $314.50 Page-10 of 11
Record Date:4/2/2024 11:47 AM King County, WA
r".
(si ,nnioro)
NAME:
(print Amu)
Notary Public in find for the State of Washington.
Commission Expires:
r �,1
Ruipeng Liao
STATE OF WASHINGTON )
) Ss,
COUNTY OF KING )
I certify that I know or have satisfactory evidence that 11mI e"i� Llj4p is the
person who appeared before one, and sald person acknowledged that he signed this
instrument and aclwowledged it to be his free and voluntary act for the uses and purposes
mentioned in the Instrument, and that he is the corporate officer authorized to sign this
document on behalf of the grantor,
FERRAND KONG
Notary Public
E
ate of Washingtonmission n 21002250m. Expires Doc 5, 2024
Med orl'hist
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DATED:
(sigtutlam)
NAME: R.G9r✓3►��
pt mhtnutc)
Notary Public in and for the. State of Washington.
Commission Expires: �I.y/ -111",
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Record Date:4/2/2024 11:47 AM King County, WA
EXHIBIT lei.
ADDRL.SS:
3922 S 2*84aiPLACE
AUBURN WA 98001
PARCEL NO,: 3874010450
LEGAL DESCRIPTION:
LOT 45 Or LOT LINE REVISION KING CO ESTATES NO.3, ACCORDING TO
PLAT RECORDED IN VOLUME 130 Or PLATS AT PAGE(S) 12 THROUGH 16,
INCLUSIVE, IN KING COUNTY, WASHINGTON,
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