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HomeMy WebLinkAbout3104412 Page: 1 o£ 4 07/28/199803= 48P CHARTER TITLE CORP DT $11.08 Kitsap Co, ~lA When Recorded Return to: CHARTER TITLE CORPORATION 3888 RANDALL WAY N.W. SILVERDALE, WA. 98383 ATTN: JENNIFER CTC-47976S DEED OF TKUST Grantor (s) (Borrower) : (1) (2) (3) (4) Additional names on page of document Grantee(s) (Beneficiary) (1) (2) (3) (4) Additional names on page of document Legal Description (A~bbreviated): NORTH HALF OF LOT 4, ALI. OF LOT 5, BLOCK 90LE HANSON'S NAVY YARD ADDT Additional legal on page I of document Assessor's Tax Parcel ID# 4546-009-004-0000 THIS DEED OF TRUST, made this 14TH day of JULY , 1998 between DEAN FLOYD HARROP, A SINGLE MAN , ~ GRANTOR, whose address is 2250 SYDNEY AVE. #G PORT ORCHARD, WA. 98366 CHARTER TITLE CORPORATION, a Washington Corporation, TRUSTEE, whose address is 3888 Randall Way, N.W., Silverdale, WA 98383 THE CITY OF BREMERTON, A MUNICIPAL CORPORATION BENEFICIARY, whose address is 239 4TH STREET BREMERTON, WA. 98337 WITNESSETH: Grantor hereby bargains, sells and conveys to Trustee in Trust, with power of sale, the following described real property in KITSAP County, Washington: Legal Description Attached hereto as Exhibit "A" ADDITIONAL PROVISIONS: SEE ATTACHED EXHIBIT B MADE A PART HEREOF. Which real property is not used principally for agriculture or farming purposes, together with all the tenements, hereditaments, and appurtenances now or hereafter thereunto belonging or in any wise appertaining, and the rents, issues and profits thereof. This deed is for the purpose of securing performance of each agreement of grantor herein contained, and pa~anent of the sum of FIFTY FOD-R THOUS;uND FI~ H~PJ~D A~ NO/100 Dollars ($ 54,500.00 ) with interest, in accordance with the terms of a promissory note of even date herewith, payable to Beneficiary or order, and made by Grantor, and all renewals, modifications and extensions thereof, and also such further sums as may be advanced or loaned by Beneficiary to Grantor, or any of their 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 fo 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 delinqn/ent all lawful taxes and assessments upon the property; to keep the property free and clear of all other charges, liens 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 the amount not less than the total 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 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. dt-i 3/19/97 CTC-47976S 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, i~cluding 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. Should Grantor fail to pay when due any taxes, assessments, insurance premiums, liens, encu~rances 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. IT IS MUTUALLY AGREED THAT: l. 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 pa~aent of any sum secured hereby after its due date, Beneficiary does ~ot waive its right to require prompt payment when due of all other sums so secured or to declare default for failure to so pay. 3. 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 pas~nent 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 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 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 a 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 writing 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, Trustee 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 t older a owner o the note secured hereby, whether Or not named Beneficiary herein. STATE OF WASHINGTON, County of KITSAP ss. I certify that I know or have satisfactory evidence that DEAN FLOYD HARROP signed this instrument and acknowledged it to be, he is free and voluntary act for the uses and purposes mentioned in this instrument. Date7/14/98 ~ ,, ~"' SARA L I~ADDUX I NOTARY PUBLIC I , ~ '-'~: ' ' ' J STATE OF WASHINGTON I ~ II COMMISSION EXPIRES ~~~~ a.d ~o~ th~ ~ate o~ ~sbi~g~ ...... idi~ Port Orchar¢L SEPTEMBER 25, 2000 l- My appointment expires ~-- .25'-~ REQUEST FOR FULL RECONVEYANCE DO not record. TO be used only when note has been paid. 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 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 reconvey, without warranty, to the parties designated by the terms of said Deed of Trust, all the estate now held by you thereunder. Dated Do not lose or destroy this Deed of Trust OR TEE NOTE which if secures. Both must be delivered to the Trustee for cancellation before reconveyance will be made. dt i 3/19/97 CTC-47976S Page: ~ of 4 CHARTER TITLE CORP DT $11.88 EXHIBIT A CTC-47976S THE NORTH HALF OF LOT 4 A-ND ALL OF LOT 5, BLOCK 9, OLE HA-NSON'S NAVY YARD ADDITION, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 4 OF PLATS, PAGE 56, RECORDS OF KITSAP COLrNTY, WASHINGTON; EXCEPT THE EAST 10 FEET THEREOF. Page: 3 o£ 4 87/20/189853=40P CHRRTER TITLE CORP OT $11,00 Kitsap Co, WA ~XHIBIT B TO DEED OF TRUST ENTIRE BAI~LNCE OF PROMISSORY NOTE SECURED BY THIS DEED OF TRUST IS DUE ~ PAYABLE IN FULL ON OR BEFORE AUGUST 1, 2005. THIS PROPERTY MAY NOT BE SOLD, TR3~NSFERRED OR FURTHER ENCUMBERED. BREACH OF THIS PROVISION WILL RESULT IN ALL SUMS SECURED BY THIS DEED OF TRUST BECOMING IMMEDIATELY DUE AND PAYABLE. Pacje: 4 o£ 4 87728/1~883:48P CHI~RTER TITLE CORP DT $t1~8 Kitsap Co, t4R Promissory Note (INTEREST INCLUDED - DUE DATE) $ 54,500.00 JULY 14 1998 [;or valu6 received, DEAiq FLOYD HARROP, A SINGLE M3kN 2250 SYDNEY AVE. #G~ PORT ORCHARD, WA. 98366 pro~nise(s) to pay to THE CITY OF BREMERTON, A MUNICIPAL CORPOP,3kTION or order, at 239 4TH STREET BREMERTON, WA. 98337 the sum of FIFTY FOUR THOUSAND FIVE HUNDRED AND NO/100 DOLLARS, with interest from AUGUST 1, 1998 on unpaid principal at the rate orS. 0000 per cent per annum; principal and interest payable in installments of THREE I-IUi'qqDRED NINETY NINE DOLL~XRS AND NINTY CENTS Dollars or more on the 1ST day of each CONSECUTIVE month, beginning on the lST day of SEPTEMBER , 199~ and continuing until the 1ST day of AUGUST , 2005, on which the unpaid balance of principal with unpaid interest due thereon shall be due and payable. Each payment shall be credited first on interest then due and the remainder on principal; and interest shall thereupon cease upon the principal so credited. Should default be made in payment of any installment when due the whole sum of principal and interest shall become immediately due at the option of the holder of this note. Principal and interest payable in lawful money of the United States. If action be instituted on this note, I promise to pay such sum as the Court may fix as attorney's fees. This note is secured by a DEED OF TRUST of even date. ADDITIONAL PROVISIONS HERETO ATTACHED AND MADE A PART HEREOF AS EXHIBIT A. n-5 (7/97) EXHIBIT A ADDENDUM TO PROMISSORY NOTE DATED 07-24-98 UNPAID PRINCIPAL BALAI~CE SHALL ACCRUE INTEREST AT THE RATE OF 12% PER /LNNUM AFTER MATURITY OR FAILURE TO PAY ANY PAYMENT. IF SELLER, OR SELLER'S COLLECTION AGENT, RECEIVES ANY MONTHLY PAY~4ENT MORE THAN 15 DAYS AFTER ITS DUE DATE, THEN A LATE PAYMENT CHARGE OF $15.00 SHALL BE AEDED THAT MONTH'S NORMAL PAYMENT. THIS PROPERTY MAY NOT BE SOLD, TRANSFERRED OR FURTHER ENCUMBERED. BREACH OF THIS PROVISION WILL RESULT IN ALL SUMS SECURED BY THIS DEED OF TRUST BECOMING IMMEDIATELY DUE AND PAYABLE. Ch rttr Titlt Mailing addre~: (3GO) G92-93X~ * (20G) G2~393~ ($~tt]~ lin~) DATE: J-JLY 20, 1998 CITY OF BREMERTON 239 4TH STREET BREMERTON, WA 98337 RE: Escrow No.: 47976S Property: 1319 COTTMAN AVENGE BREMERTON, WA. 98312 We are enclosing the following in connection with the closing of the above captioned escrow: 1. Our check number 106297 in the amount of $143.40, representing INTEREST ON NEW LOAN. 2. Certified copy of Final Closing Statement. 3. Our check number 106305 in the amount of $35.85, representing a refund. We trust you will find everythin9 in order. Thank you for giving us the opportunity to serve you. If we can be of further service to you in the future, please do not hesitate to call. Sincerely, J~,~N~-Wr FE R SA~P enc. Serving Washington Since 1977 106305 CHARTER TITLE CORPORATION KITSAP COUNTY 10 6 3 0 5 Date: 07/20/98 Seller: CITY OF BREME~TON REFUND 35.85 Total:**********35.85 1063'05 CHARTER TITLE CORPORATION KITSAP COUNTY 10 6 2 9 7 Escrow No: 47976S -LS Buyer: DEAN FLOYD Date: 07/20/98 Seller: CITY OF BR~MERTON Interest on new loan 143.40 106297 Total:*********143.40 ~AiSETTLEMENT STATEMENT. , U.S.DEPARTMENT OF HOUSING TITL 3888 Randall Way N.W. Silverdale, WA 98383 OMB No. 2502-0265 B. TYPE OF LOAN 1. []FHA 2.[ FmHA ],O CONV.UNINS. 6. File Number: 7. Loan Number: 8. age Insurance Case N~m]ber: 4. [~VA 5.[~ C0NV.INS. 47976S This form Js furnished to give you a statement of actual settlement costs. A~ ~ paid to and by the C. NOTE: ~ett~e%jent agent are shown. Ite~ rlmrked "[p.o.c)" were paid outside the clos they are shown here or lnTormat Dna purposes and are not incLi~ded in the totals. D.RAME AND ADDRESS OF BORROWER: E. NAME AND ADDRESS OF SELLER/TAX I.D.No.: F. NAME AN ~RESS OF LENDER: DEAN FLOYD HARROP CITY OF BREMERTON A MUNICIPAL CORPORATION THE CIT% ' BREMERTON 239 4TH ~EET 2250 SYDNEY AVE. #G82 239 4TH STREET BREMERTC WA. 98337 PORT ORCHARD, WA. 98366 BREMERTON, WA. 98337 G.PROPERTY LOCATION: N.SETTLEMENT AGEgT: 1319 COTTMAN AVENUE CHARTER TITLE CORPORATION BREMERTON, WA. 98312 Escrow Officer: LIATDA SCHWARTZ PLACE OF SETTLEMENT: I.SETTLEMENT DATE: Silverdale, Washington J. SUF~4ARY OF BORROWER'S TRANSACTION K. SLUF[~RY OF S~,~R'S TRANSACTION 100. GROSS AMOUNT DUE FRON BORROWER: 400. GROSS ~ DUE TO S~T~,k~R: 101. Contract Sales Price 401. Contract Sales Price 54,500.00 102. Personal property 402. Personal property 10]. Settlement charges to borrower (line 1400 403. 104. 404. 105. 405. Adjustments for items paid by seller in advance Adjust~nts for items paid by seller in advance 106. City/town taxes to 406. City/town taxes to 107, County taxes to 407. County taxes to 108. Assessments to 408. Assessments to 109. 409. 110. 410. 111. 411. 112. 412. 120. GROSS AMOUNT DUE 420. GROSS AMOUNT DUE RRC~ BORRC~E~ /O S~T,T.~ 54,500.00 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IR AMOUNT DUE TO SELLER: 201. Deposit or earnest money 501. Excess deposit (see instructions) 202. Principal amount of new loan(s) 502. Settlement charges to seller (line 1400) 3~?~8.00 20]. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to 204. 504. Payoffoffirstmortgageloan 205. 505. Payoff of second mertgageloan 206. 506. 207. 507.FINAL BILL G~RBAGE 175.70 208. 508-ESTIMATED FINAL UTILITY BILL 90.24 209. 509. Adjustments for itefl~s unpaid by seller Adjustments for items unpaid ~ seller 210. City/town taxes to 510. City/town taxes to 211. County taxes to 511. County taxes to 212. Assessments to 512. Assessments to 21]. 513. 214. 514.balance of prom note/d.t. 54,500.00 215. 515-CLOSING COSTS/PREPAID CREDIT 1,126.00 216. 516. 217. 517. 218. 518. 219. 519. 220. TOTAL PAID BY/FOR 520. TOTAL REDUCTION AMOL~Ff BORRO~ I)UE S~T~,~ 59,639.94 300. CASH AT S~'i'i'I/~V~NT FRCH/TO BORROWER 600. CASH AT S~±'±'LE/~ENT TO/FROM ]01. Gross a~unt due from borrower (line 120) 601. Gross amount due to seller (line 420) 54~500.00 302. Lessamountspoidby/for borrower(line 220) 602. Lessreductionsinamountdueselier(line52C 59,G39,94 303. CASH(eRROR)(eTD) BORROWER 603. CASH(uTe)(~FROM) S~T,TRR 5,139.94 Previous edition is obsolete. HUD-1 (8-87) RESPA, NB 4305.2 I HEREBY CERTIFY THIS TRUE CORRECT E -' TLE OI P Ny ,L~ SETTLEMENT CHARGES 700. TOTAL SALES/BROKER'S COMMISSION PAIDFROM PAIDFROM BORROWER'S SELLER'S based on price $ 54. 500. OO a 6 ,OO %= 3,270. OO FUNDS AT FUNDS AT Division of Commission (line 700) as follows: SETTLEMENT SETTLEMENT 701. $ 1.635.00 to VETEP~ REALTY SERVICES. INC, 702. $ 1,635.00 to ERA REID REALTy 703. Co~l~JSSlOn paid at Settlement 3,270.0 O 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN 801. Loan Origination Fee 802. Loan Discount % 803. Appraisal Fee to 804. Credit Report to 805. Renders inspection Fee 806. MortgagelnsuranceApplicationFeeto 807. Assumption Fee 808. 809. 810. 811. 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from 07/20/98 to 08/01/98 as 11. 950000 /day 902. Mortgage Insurance Premium for months to 903. Hazard Insurance Premium for 1Years to ALLSTATE INSLT~CE 904. Flood Insurance Premium for years to 905. 1000. RESERVES DEPOSITED WITH LENDER 1001. Hazard Insurance months as per month 1002. Mortgage Insurance months as per n~nth 1003. City property taxes months as per month 1004. County property taxes months ~$ per month 1005. Annual assessments months ~$ par month 1006. Flood insurance months as per month 1007. months as per month 1008. months as per month 1100. TITLE CHARGES !1101. Settlement or closing fee toCI-LARTER TITLE CORPORATION 210.00 1102. Abstract or title search to 1103. Title examination to 1104. Title insurance binder to 1105. Doc[a~ent preparation to 1106. Notary fees to 1107. Attorney's fees to (inc[udes above items numbers: ) 1108. Title insurance toCI-LARTER TITLE CORPORATIQ~ 266.00 (includes above items numbers: 1109. Lender,s coverage $ 54.500.00 lO0_O0 1110. Owner's coverage $ 54.500.00 266.00 1111. SALES TAX CI-LARTER TITLE CORPORATION 1112. 38.56 SALES TA2{ CITY OF BREMERTON EXEMPT 1113. 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording fees: Deed $ 10.00 :Mortgage $ 15.00 :Re[eases $ 1202. City/county tax stamps: Deed $ :Mortgage $ 1203. State tax/stan~ps: Deeds :M°rtsase $ 2.00 1204. 1205. 1300. ADDITIONAL SETTLEMENT CHARGES 1301. Survey to 1302. Pest inspection to 1303. 1304. 1305. 1400. TOTAL SETTLEMENT CHaRGES(enter on lines 103,Sect J and 502,Sect K) 3,748.00 I have carefully reviewed the HUD-1Sett[effient Statement and to the best of ~ knowledge and belief it is a true and accurate stat.ement of all receipts and disbursements made on my account or by me [n this transaction. I further certify that I have received a copy of the HUD-1 Settlement State,hr. Borrowers Sellers The HUD-1 Settlement Statement which I have prepgrod is a true and accurate account of this transaction. I have caused or will cause the funds to be disbursed in accordance w~th this statement. Settlement Agent Date Warning: It is a crime to knowingly make fa[se statements to the United States on this or any similar form. Penalties upon conviction can include a fine and imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010.