HomeMy WebLinkAbout20240402000338, Deed of Trust, Liao & ChenInstrument Number: 20240402000338 Document:DT Rec: S313.50 Page-1 of 10
Record Date:4/2/2024 11:47 AM
Electronically Recorded King County, WA
AI:T13R RICORDING RETURNTO:
City ofkibtun
Attention: City Attorney
25 West Main
Aubuni, WA 98001
Phone No. (253) 804-3108
Dell OF TRUST
Grantors: HUIPING LIAO; YIZIIENG C1413H
Beneficiary: CITY OF AUBURN
Leal Description: LOT 4, WIIITNEY GLENN, ACCORDING TO
TIIE PLAT THEREOF RECORDED IN VOLUME
142 OF PLATS, PAGES 82 THROUGH: 84,
RECORDS OF 1{ING COUNTY, WASHINGTON,
Assessor's Tax Parcel IDA: 9378400040
Adress: 12230 SE 204th Street, Kent, Washington, 98031
Trustee: First American Title
This Deed of 'Trust is made this q day of �_ _ _, 2024,
between. HUIPING LIAO; YIZIIENG CHEN,.a married couple, as Grantors, whose
address is 12230 SE 204th Street, Kent, Washington, 98031; and First American Title, as
Trustee, whose address is Madison Centre, 920 Fifth Avenue, Suite 1200, Seattle, WA
98104 and the CITY OVAUBURN, as Beneficiary, whose address.is c/o City Attorney,
25 West Main St., Auburn, WA 98.001.
WITNESSETH: Grantors hereby bargains, sells, grants and conveys to Trustee in Trust,
with power of sale, the real property commonly known as 12230 SE 204th Street, Kent,
WA, 98031 ("Property"), and which is legally described in Exhibit A,
together with 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
61.24.010, 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 Trust
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THIS DE1 D OFTRUST 1S FOR,
A. 'I'lte purpose of securing the 'full, prompt and complete payment by
Grantors of all sums of every nature due or to come due under the tertns of the
promissory note ("Note"), executed as part of a settlement agreement in cause number
21-2.03016.1, dated ..._ d0,,,C6 oq 2024, payable to Beneficiary, In the
principal sum of one -hundred, ninety-nine thousand dollars ($199,000,00), together with
interest and tees, and any inodificatlous, extensions or renewals thereof whether or not
evidenced by a neNv or additional promissory note, together with any taxes, assessments,
insurance premiums, liens, encumbrances or other charges attached to the Property and
paid by Beneficiary, The principal suns owed is payable according to the terms of the
Note,
B. The full, prompt and cornpleteperfortnance of all duties and obligations of
Grantor of any nature directly or indirectly.arising under the tertns, covenants, conditions,
obligations, duties, undertakings, agreements, representations, warranties and
responsibilities 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 the benefit of Beneficiary, in
the enforcement against Grantors of Beneficiary's rights, and .Grantors' duties and
obligations tinder 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 ,r.raG�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 under 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 THE SECURITY OF THIS DIED OF 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 permit no waste or deterioration thereof; to not remove or
demolish the Property or any part thereof; and to comply with all laws, ordinances,
regulations, covenants, conditions and restdet:ions, whether public or private, of every
kind and cliaracter, and affecting the Property, Whether or not Grantors are residing on
the Property, they shall maintain it in order to prevent the Property from deteriorating or
I7eed of Trust
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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 determines pursuant to section 3 that it is not
economically feasible, It 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, Fines, To pay when due
the principal of, and interest on, the debt evidenced by the Note and airy late charges due
tinder the Note. No offset or claim which Grantor might have against Beneficiary shall
relieve Grantor frown 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 public 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 all
buildings now or Hereafter erected on the Property, continuously insured against loss by
fire or other hazards in an 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
Beneficiary, 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 Object to
Beneficiary's right to disapprove Grantors' choice of carrier and/or policy, which right
shall not be exercised unreasonably and shall 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 maintain in 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 need 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,
Failure by Grantor to abide by this section shall constitute a material breach. of
this security insMiment and the Note warranting Beneficiary, at its option, to declare all
outstanding sums owed on the 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 made promptly by Grantor.
Unless Beneficiary and Grantors otherwise agree hi 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 economically feasible and
Beneficiary's security Is 'rot lessened, If the restoration or repair Is not economically
feasible or the Beneficiary's security would be lessened, the insurance proceeds shall be
applied to the sums secured by this Deed of 'Trust, whether or not then due, with the
excess, if any, paid to Grantors,
Deed orl)'ust
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Ill the event of property loss that results in Clio Grantors obtaining any
compensation, settle111ent, award of damages or proceeds paid by any third party (other
than ,ulstlrance proceeds from Grantors' property insurance), the provisions of section 3
shall apply as if the colllpensation, settlement, aware or proceeds were insurance
proceeds referred to ill that section 3, In the event that Grantor abandons the Property
and fails to respond within 30 clays to a notice from I3enofclary that the insurance carrier
has offered to settle a claim, or if 13eneftciary.acquires the Property, Grantor assigns to
Beneficiary Grantor's rights to any insurance proceeds or third -party compensation not
obligatedto a superior lien holder In an amount not to exceed the amounts unpaid under
the Note, In such circumstance, Grantor shall assign and any other of Grantor's rights
under the insurance policies covering the Property 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 under the Note or this security. instrument, whether
or not then 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 atto'mey'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.
Should Grantors 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 from the date of disbursement, shall be added to and become a pail
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.
6. Free .of )'encumbrances, To ensure that no liens or encumbrances,
whether superior or Inferior to this Deed of Trust, other than Bells and encumbrances of
record upon the date of execution hereof-, be created or suffered to be cleated by Grantor
during the life of this Deed of Trust without the prior written consent of Beneficiary.
7. Discharge of Liens, To promptly discharge any lien attached to the
property after the date of execution of this deed of trust and which has priority over this
instrument, If Grantors are aware that the Property Is subject to a lien that can attain
priority over this Instrument, they must give Beneficiary notice identifying the lion, if
Beneficiary so demands in writing, Grantors shall satisfy the lien withill 10 days or take
one of the following actions; (a) agreeing in wrlting to the Payment of the obligation
secured by the lien in a mangler acceptable to Beneficiary, but only as .long as Grantors
are performing such agreement; (b) contesting 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
real or 1'nisl
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uut:il Such proceedings are concluded; or (c) securing from the holder of the lien an
agreement sattsfactory to Beneficiary subordinating the lien to this instrument,
8, Hazardous Substances, To not cause or permit the presence, use,
disposal, storage, or release of tiny hazardous Substances on or in the Property. Grantor
shall not do nor knowingly allow anyone else to do , anything affecting the Property (a.)
that is in violation of any 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,
`I'liis section shall not apply to the presence, use, .or storage on the Property of small
quantities of Hazardous Substances that are generally recognized to be tlppropriate 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.
IT IS MUTUALLY AGREED 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 13ene#iclary.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, Reeonveyance, 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 fbr reconveyabce .inade by the Beneficiary or the: person entitled. thereto, The
Grantor shall pay any recordation costs and a $230 Trustee's fee for preparing the
reconveyance,
4. Default, Upon default by Grantors In the payanent of any indebtedness
secured hereby or in the performance of any agreement secured hereby or contained
herein, including any default by Grantors under any term, condition or provision of the
Settlement Agreement or P.romissmy Note, and after notice from Beneficiary setting :forth
the default and requiring cure of such default within thirty (30) days of the date of service
]aced of Tnist
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or mailing of such notice, Beneficiary may commence ail remedies available to it and
may declare that all sums secured hereby shall immediately become due and payable, In
such event and "poll written request of Beneficiary, Trustee shall sell the Property, in
accordance with the Deed .of Trust Act. of the State of Washington (61.24 RCW), at
public auction to the highest bidder, Any person except Trustee may bid at Trustee's sale,
including .1eneficiary,
If 13eneficlaiy invoices 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
may require. Trustee may postpone sale of the Property for a period or periods permitted
by law by public announcement at the time and piece fixed 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 attorney's fee; (2) to the obligations
(Promissory Note and Settlement Agreement) secured by this Deed 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, witllQut 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 all 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 a pending sale under any other Deed of "Crust or of any action or proceeding in
which Grantors, 'Trustee or Beneficiary shall be a party unless such action or proceeding
is brought by the Trustee.
7, Actions Impairing Beneficiary's Interest:, Grantors shad 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 fir the Property or rights under 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, precludes forfeiture of the property or other material impairment
of Beneficiary's interest in the Property or rights under this 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 of Trast
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If Gralltor fails to perlbrnl t11e covenants and agreements contained in this
instrument or is the subject of a legal proceeding that might: significantly affect
Beneficiary's .interest in the property and/or rights Linder this instrument (such as a
proceeding in bankruptcy, probate, condemnation or forfeiture, for enforcement of a lien
that may attain 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, al.7pearing
in court, paying reasonable attorneys' fees to protect its interest. Any amounts disbursed
by the 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
Grantors.
8.; Joint and Several, Grantors covenants and agrees that Grantors'
obligations and liability shall be joint 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 deemed 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 may 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
mail to 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 the following addresses:
J.O. 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 legail or
beneficial interest in the Property, is sold or transferred without Beneficiary's prior
written consent, Benellplary may require immediate payment in full of all sums see tired
by this Deed of Trust. If Beneficiary exercises this option, Beneficiary shall give GraIltor
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 sums secured by the Deed of
Trust, If Grantor foils to pay these sums prior to the expiration of this period, Beneficiary
may invoke any remedies permitted by this Deed of Trust and by .law without further
notice or demand on Grantor,
Deed offnisu
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12, Melts and Successors. This Deed of Trust applies to and Inures to, the
benefit of, and is binding not only on tine parties hereto, but oil 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,
13, Owuershlp 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 right to encumber and the Property is
unencumbered 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 _A— day of _ M,r�, 2024,
GMNTORS
Idutpl g Liao
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
I certify that I lalow or have satisfactory evidence that RIPInr&i GI/ 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 he is the corporate officer authorized to sign this
document on behalf of the grantor,
FrRRIAND KONG
Notary Public
State of Washinston
L
ot mission # 21002250omm. C•xplros Dec 5, 2D24
Teed ofTrasl
Page 8
DATED: w , .2-1> - .
� (signniu
NAME: +�
Notary Public in and for the State of Washington.
Commission Expires:.
Instrument Number: 20240402000338 Document:DT Rec: $313.50 Page-9 of 10
Record Date:4/2/2024 11:47 AM King County, WA
Y zlteng Chen
STATE OF WASHINGTON )
) ss,
COUNTY Or ICING )
I certify that I know or have satisfactory evidence that "I %N wiw is the
person who 1ppeared before me, and said person acknowledged that he signed this
instrument and acknowledged it to be his flee 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
State of Washington
Commission !121002250
My Comm. Expires Dec 5, 2024
Deed. of "t i ist
Page 9
DATED: -A
n
{sig nuuc)
NAME:
(print unme)
Notary Public in and for the State of Washington.
Commission Expires; , /2�,
Instrument Number: 20240402000338 Document:DT Rec: S313.50 Page-10 of 10
Record Date:4/2/2024 11:47 AM King County, WA
EXHIBIT A
ADDRESS:
12230 SE 204TI-I STREET,
IMNT, WASHINGTON, 98031
PARCEL NO,: 9378400040
LE COAL DESCRIPTION:
LOT 4, WHITNEY GLENN, ACCORDING TO THE PLAT THERE OF RECORDED
IN VOLUME 142 OF FLATS, PAGES 82'THROUGH 84, RECORDS OF KING
COUNTY, WASI-IINGTON,
SITUATE IN'TIIE COUNTY OF DING, STATE OF WASHINGTON