HomeMy WebLinkAboutTAXID947033 Deed of TrustTREASURER'S USE OI{LY RECORDER'S USE ONLY
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Deed 0f TrustKittitas County
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KITTITAS CO
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After recording return to:
The County of Kittitas
DOCUMENT TITLE: Deed of Trust
GRANTOR: KITTITAS COLINTY HISTORICAL SOCIETYGRANTEE(S): THE COUNTY OF KITTITAS
LEGAL DESCRIPTION: TWN EBURG; ORIGINAL ADD.; PTN. E 90'oF LOTS 9 & t0;
BLK 19
ASSESSOR'S TAX PARCEL NO.: 947033
DEED OF TRUST
THIS DEED OF TRUST, made this a5 day of f,*\V , 20A3 ,betweenKITTITASCoUNTYHISToRICALSoCIEtv,cranto.,*hffiave--Ettensburg,
WA; AmeriTitle, Trustee, whose address is 101 W 5th Ave , and THE COLINTY OF KITTITAS,
Beneficiary, whose address is
WITNESSETH:
WHEREAS, the Grantor is indebted to the Beneficiary pursuant to the terms of that certain
Promissory Note of even date; and
WHEREAS, the Grantor desires to secure said indebtedness as is hereinafter set forth in this
Deed of Trust;
NOW, THEREFORE, IN CONSIDERATION ofthe mutual covenants hereinafter set forth, the
parties hereto hereby agree as follows:
1. Grantor hereby bargains, sells and conveys to Trustee in Trust, with POWER OF SALE,
the real property located in the County of Kittitas, State of Washington and legally described as follows:
The East 90 feet of Lots 9 and 10, Block 19, Ellensburg Original, in the County of
Kiffitas, State of Washington? as per plat thereof recorded in Book 1 of Plats, page 1,
records ofsaid county.
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(hereinafter the "Property") which real property is not used principally for agriculture or farming
purposes, together with all tenements, hereditaments, and appurtenances now or hereafter thereunto
belonging or in any wise appertaining, and the rents, issues and profits thereof.
2. This Deed of Trust is for the purpose of securing performance of each agreement ofthe
Grantor contained herein, and possible payment of the sum of $350,000.00, in accordance with the terms
of a promissory note of even date herewith payable to the Beneficiary and in accordance with the terms
of County of Kittitas American Rescue Plan Act Grant Program Agreement.
3. To protect the security of this Deed of Trusto Grantor covenants and agrees:
3.1 To keep the Property in good condition and repair; to permit no waste thereof; or
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.
3.2 To pay before delinquent 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 ofthis
Deed of Trust.
3.3 To keep 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. 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 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 ofTrust. 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.
3.4 To defend any action or proceeding purporting to affectthe 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.
3.5 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 stafute.
3,6 Should Grantor fail to pay when due any taxes, assessments, insurance premiums,
liens, encumbrances or other charges against the Property, 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.
4. Grantor and the Beneficiary mutually agree that:
By accepting payment ofany sum secured hereby after its due date, Beneficiary
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4.1
fee
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.
4.3 The Trustee shall reconvey all or any part ofthe Properly 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.
4.4 Upon default by Grantor in the payment ofany indebtedness secured hereby or in
the performance ofany 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 the
Beneficiary, Trustee shall sell the trust property, in accordance with the Deed of Trust Act ofthe 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:
4.4.1 To the expense of sale, including areasonable Trustee's fee and attorney's
4.4.2 To the obligation secured by this Deed of Trust;
4.4.3 The surplus , if any, shall be dishibuted to the persons entitled thereto.
4.5 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 ofthis 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 thereof in favor of bona fide
purchasers and encumbrances for value.
4.6 The power of sale confered 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.
4.7 Grantors' interest hereunder, including the sale of the Property or any portion
thereof, shall not be assigned, sold or otherwise transferred prior to payment in full of the principal and
interest accruing on the Promissory Note executed by the parties of even date, unless Beneficiary shall
have first approved, in writing, the proposed assignee, purchaser or transferee.
IfBeneficiary exercises such option to accelerate, Beneficiary shall mail Grantor notice
of acceleration to Grantor's last known mailing address. Such notice shall provide a period of not less
than 30 days from the date the notice is mailedwithin which Grantor may pay the sums declared due. If
Grantor fails to pay such sums prior to the expiration of such period, Beneficiary may, without further
notice or demand on Grantor, invoke any remedies permitted by paragraph 4.4 hereof.
4.8 In the event of the death, incapacity or 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, Kittitas County, the
successor trustee shall be vested with all powers of the original trustee. The trustee is not obligated to
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notify any party hereof 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.
4.9 This Deed ofTrust applies to, inures to the benefit of, and is binding not only on
the parties hereto, but on their heirs, devisees, legatees, administrators, executors, successors and assigns.
GRANTOR:
STATE OF WASHINGTON
County of Kittitas
On this day, before me, the undersigned, a Notary Public in and for the State of Washington, duly
commissionedand sworn, personally appeared fY\oe{t4v+ \LrA$cA^ ,tomeknownto
be thel3or\e-S ?gelrpef,,f , rerp""tinety of t<Ittttas COLTNTY HISTORrcAL SOCIETY,
the corporation that executed the foregoing instrument, and acknowledged that the said instrument to be
the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and
on oath stated that they are authorized to execute the said instrument.
GryEN under my hand and official seal this L{w auy ot 2023
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PROMISSORY NOTE
$350,000.00
Ellensburg, Washington
Qi,tQ,u ,Q5 ,2023o l-FOR VALUE RECEIVED, KITTITAS COUNTY HISTORICAL SOCIETY (Borrower"), promises to pay to
the order of THE COUNTY OF KITTITAS ("Payee"), the sum of Three Hundred Fifty Thousand and no/100
Dollars ($3 50,000.00).
TERMS OF PAYMENT: All sums evidenced by this note, principal, and accrued interest, shall be paid as
follows: The sum of Three Hundred Fifty Thousand Dollars and no/100 Dollars ($350,000.00 shall only become
due should Borrower not abide by the County of Kittitas American Rescue Plan Act Grant Program Agreement
signed 2023
This Promissory Note and Deed of Trust entered into contemporaneously herewith, remains in full force and
effect for a period of ten (10) years following the final payment of state funds to Kittitas County Historical
Society under the County of Kittitas American Rescue Plan Act Grant Program Agreement signed
2023. Upon satisfaction of the ten (10) year term, Kittitas County shall, upon written
Kittitas County Historical Society, reconvey this promissory note and Deed of Trust entered
contemporaneous ly herewith.
Principal is payable in lawful money of the United States.
DEFAULT: Time is of the essence with respect to this Note. If Borrower fails to pay any installment required
by this Note when due or if any default occurs with respect to the terms and conditions of the real and/or
personal property security instruments securing the payment of this Note and of the County of Kittitas American
Rescue Plan Act Grant Program Agreement entered into contemporaneously herewith, then Borrower shall be in
default on this Note. Upon default, the entire unpaid balance of this Note, principal, and accrued interest, shall
become immediately due and payable and the Payee may immediately institute proceedings to collect the entire
amount owing herein. In the event of any such default or upon the maturity of this Note, Borrower agrees that
the Payee shall be entitled to all rights and remedies allowed by law or equity, in addition to all other rights
established by this Note.
MODIFICATIONS: No amendment, modification, or waiver of any provision of this Note shall be effective
unless it shall be approved and signed by both the Payee and Bomower in writing.
APPLICABLE LAW: This Note shall be construed, governed, and enforced according to the laws of the State
of Washington. In the event any legal proceedings are commenced to enforce the Borrower's obligations under
the terms of this Note, or any obligations of Borrower by virtue of the real and personal property security
instruments securing the payment of the indebtedness evidenced by this Note, the venue of any such legal
proceeding, shall be laid in Kittitas County, or any county adjoining Kittitas County, State of Washington.
KITTITAS COUNTY IIISTORICAL SOCIETY:
By
Its:
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