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MMD2020-00032
NOTICE OF TYPE I DECISION MINOR MODIFICATION MMD2020-00032 11111 MADRONA RECOVERY T I GARD 120 DAYS = December 30, 2020 SECTION I. APPLICATION SUMMARY FILE NAME: Madrona Recovery CASE NO.: Minor Modification(MMD) MMD2020-00032 PROPOSAL: The applicant proposes a change of use to an existing commercial building at 6980 SW Varns Street (WCTM 2S101DA,Tax Lot 2000) from office to medical office. The applicant also proposes to remove four (4) parking spaces at the northern end of the site and restripe existing parking at the southern end of the site,and to create a fenced-in outdoor area at the northern end of the site. APPLICANT: Access Architecture Attn:Brendan Sanchez 400 Columbia Street,Suite 120 Vancouver,WA 98660 OWNER: MRC RE,LLC Attn:John Thornton 7000 SW Varns Street Tigard, OR 97223 LOCATION: 6980 SW Varns Street;WCTM 2S101DA,Tax Lot 2000 BASE ZONE: C-P: Professional/Administrative Commercial Zone APPLICABLE REVIEW CRITERIA: Community Development Code (CDC)Chapters 18.310, 18.410,and 18.765.060.D SECTION II. DECISION Notice is hereby given that the City of Tigard Community Development Director's designee has APPROVED the above request.The findings and conclusions on which the decision is based are noted in Section IV. MMD2020-00032 Madrona Recovery 1 SECTION III. BACKGROUND INFORMATION Site Information: The subject site is located at 6980 SW Yarns Street (WCTM 2S101DA, Tax Lot 2000), and is currently occupied by an existing 4,100-square-foot office building,with associated parking and landscaping.The site does not have direct frontage on a public street, and connects to SW Yarns Street via an access easement over the two (2)properties to the north: 6996 and 7000 SW Yarns Street(WCTM 2S101DA,Tax Lots 1900 and 2100). In 2017, Tigard City Council approved a medical center use on Tax Lot 1900 (Case No. CUP2016-00004). The applicant proposes a change of use to the existing building on Tax Lot 2000 from office to medical office, and proposes a shared parking agreement between Tax Lots 1900 and 2000. Tax Lots 1900, 2000, and 2100 are all owned by MRC RE, LLC, and are all located in the Professional/Administrative Commercial (C-P) Zone. SECTION IV. APPLICABLE REVIEW CRITERIA AND FINDINGS 18.310 Nonresidential Development Standards: 18.310.020 Fence and Wall Standards Fences and walls maybe located within required setbacks.Fences and walls located within required setbacks are subject to the standards in this section. Fences and walls located outside required setbacks are subject to the applicable standards in Chapter 18.320,Commercial Zone Development Standards,or Chapter 18.330,Industrial Zone Development Standards. A. Fences and walls in a required front setback may be a maximum of 3 feet in height where abutting a local or neighborhood street and a maximum of 6 feet in height where abutting a collector or arterial street. The applicant proposes to create a fenced-in outdoor area at the northern end of the site,and the proposed fence will be eight(8) feet tall.The maximum height standard outlined above does not apply to this proposal because the required front setback for the C-P Zone is zero feet, and the subject site does not have direct frontage on a public street. B. Fences and walls in a required side, street side,or rear setback may be a maximum of 8 feet in height. Fences and walls 7 feet or more in height requite a building permit. The applicant's proposal complies with the height standard outlined above because the required side and rear setbacks for the C-P Zone are zero feet, and the proposed fence will be eight (8) feet tall. The subject site does not have direct frontage on a public street,so the street side setback does not apply.The applicant's narrative acknowledges that a building permit will be required for the proposed fence, since it will be taller than seven (7) feet.This standard is met. C. Fences and walls must meet vision clearance area requirements in Chapter 18.930, Vision Clearance Areas. The proposed fence will not impact vision clearance because it will not be located at the intersection of two (2) streets,a street and a railroad, or a driveway providing access to a public or private street. This standard is met. 18.410 Off-Street Parking and Loading: 18.410.030 General Provisions E. Shared parking.The parking requirements of this chapter may be met through a shared parking agreement,subject to the following: 1. The applicant must demonstrate that the sites participating in the shared parking MMD2020-00032 Madrona Recovery 2 agreement provide sufficient and appropriately located parking for all uses on the sites during all periods of operation; Tax Lot Use Category Minimum Parking Requirement Parking Spaces Provided 1900 Medical Center 26 spaces (Refer to Case No. CUP2016- 29 spaces 00004) 2000 Medical Office 16 spaces (Refer to CDC Table 18.410.3) 15 spaces TOTAL 42 spaces 44 spaces The applicant proposes a change of use to the existing 4,100-square-foot building on Tax Lot 2000 from office to medical office. The applicant also proposes to remove four (4) parking spaces at the northern end of the site in order to create a fenced-in outdoor area,and to restripe parking at the southern end of the site. Because the proposed new use requires the application of a higher parking quantity requirement than the previous use, and the applicant proposes to modify on-site parking, a review of the site's parking area is required to ensure that it complies with the City's minimum parking requirements. As outlined in the table above,the minimum parking requirement for the new medical office use on Tax Lot 2000 is 16 spaces, but there is a shortage of parking on site, with only 15 spaces provided. Accordingly,the applicant proposes a shared parking agreement with the adjacent medical center use on Tax Lot 1900. The table above illustrates that, together, Tax Lots 1900 and 200 will provide adequate parking for all uses during all periods of operation.Additionally,staff reviewed the applicant's site plan and the approved site plan from Case No. CUP2016-00004 to confirm all on-site parking will be appropriately located for both uses.This standard is met. 2. The applicant must provide satisfactory legal evidence in the form of deeds, leases, or contracts to establish the shared parking agreement; and The applicant has provided satisfactory legal evidence by submitting deeds that show both Tax Lots 1900 are 200 are owned by the same entity,MRC RE,LLC. This standard is met. 3. If a shared parking agreement is terminated, the requirements of this title thereafter apply to each use,structure,or lot separately. If this shared parking agreement is terminated, the applicant will be responsible for bringing both Tax Lots 1900 and 2000 into compliance with minimum parking requirements.This standard is met. F. Accessible parking.All parking areas must include the required number of accessible parking spaces as specified by the state building code and federal standards. Such parking spaces must be sized,signed,and marked as required by these regulations and in compliance with ORS 447. The applicant proposes to restripe the parking lot at the southern end of the site,and add a new van accessible parking space. Additionally,the Building Official will review the applicant's proposal for compliance with all applicable accessibility requirements at the time of building permit submittal.This standard is met. 18.410.040 General Design Standards E. Surfacing. Off-street parking areas must be paved with an asphalt,concrete,or pervious paving surface,with the following exceptions: 1. Off-street parking areas associated with a temporary use application,as provided in Chapter 18.440,Temporary Uses,provided the approval authority determines that unpaved parking will not create adverse conditions. MMD2020-00032 Madrona Recovery 3 2. Off-street overflow parking areas in the Parks and Recreation zone. The applicant proposes to restripe the parking lot at the southern end of the site,and the submitted site plan shows all on-site parking will be paved with asphalt,concrete,or a pervious paving surface.Additionally,the applicant is not applying for a temporary use,and the site is not located in the Parks and Recreation Zone. This standard is met. F. Striping. 1. Except for parking required for single detached houses and accessory dwelling units, and individual spaces for rowhouses,all off-street parking spaces must be clearly and separately identified with pavement markings or contrasting paving materials; and The applicant's submitted site plan shows that all on-site parking will be clearly and separately identified with pavement markings or contrasting paving materials.This standard is met. I. Space and aisle dimensions. The minimum dimensional standards for surface parking spaces and drive aisles are provided in Figure 18.410.1 and Table 18.410.2. The restriped parking area complies with minimum dimensional standards in CDC Figure 18.410.1 and Table 18.410.2 because all spaces will be angled at 90 degrees,and will have a minimum width of eight (8) feet,six (6) inches and will have a minimum depth of 16 feet.This standard is met. 18.765 Modifications: 18.765.060 Minor Modifications A. Definition.A minor modification has the following characteristics: 1. It has minimal impacts on surrounding properties,sensitive lands,or public facilities;and The applicant proposes a change of use to an existing commercial building from office to medical office,to modify on-site parking,and to create a fenced-in outdoor area.As demonstrated in the findings above, the applicant's proposal complies with all applicable standards for nonresidential development in the C-P Zone and off-street parking. Accordingly, staff finds this proposal will have minimal impacts on surrounding properties, sensitive lands, or public facilities, and meets the definition of a minor modification. 2. It does not cause the development to go out of conformance with any applicable standard or further out of conformance if already nonconforming, except where an adjustment has been approved. As demonstrated in the findings above, the applicant's proposal complies with all applicable standards for nonresidential development in the C-P Zone and off-street parking. Accordingly, this proposal does not cause the development to go out of conformance with any applicable standard. D. Approval criteria. The approval authority will approve or approve with conditions a minor modification application when all of the following criteria are met: 1. The proposed modification qualifies as a minor modification as defined in Subsection 18.765.060.A; As demonstrated in the findings above, this proposal qualifies as a minor modification as defined in CDC 18.765.060.A.This criterion is met. 2. If the proposal involves the modification of a condition of approval, at least one of the following criteria is met: MMll2020-00032 Madrona Recovery a. The condition cannot be implemented for reasons outside the control of the applicant or property owner; b. The condition is no longer needed or warranted because circumstances have changed; or c. A new or modified condition better accomplishes the purpose of the original condition. The applicant is not proposing to modify a condition of approval. This criterion does not apply. CONCLUSION: This proposal qualifies as a minor modification to an existing development, as defined in CDC 18.765.060.A, and is in compliance with all applicable standards of this Tide. SECTION V. PROCEDURE AND APPEAL INFORMATION Notice: Notice was provided to: X The applicant and owner Final Decision: A minor modification is a Type I procedure.As such, this decision is final for purposes of appeal on the date it is mailed or otherwise provided to the applicant, whichever occurs first. This decision is not appealable locally and is the final decision of the City. THIS DECISION IS FINAL ON SEPTEMBER 8, 2020, AND BECOMES EFFECTIVE ON SEPTEMBER 9, 2020. Questions: If you have any questions,please contact Lina Smith at (503) 718-2438 or LinaCS@tigard-or.gov. • September 8. 2020 APPROVED BY: Lina Smith,Assistant Planner Community Development Director's Designee MMD2020-00032 Madrona Recovery 5 " \\ \ ,SITE ar PLAN NOTES e / EXISTING NUROING // �\ weolrswlxrum�um ewuesnem VERIFIED BY wxrveerol ar' ..�w.A.eoram rvu,Em.amReo "�.. ,.r..emerwr \\\`\I IIrri,,,, //.-/ / /j j////1�ll 111"\� \ e w,:` ro Me�w».e.�, owaoor.4 xm.l a_I._..r.. 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"ee oa 1mu i///,/„,iiq„\� A1 .10 ARCHITECTURAL SITE PLAN O ARCHITECTURAL e SITE RAN « "P BID ALTERNATE g,,44 oAv fa24 r B axL. al-n-S 3x10x10 POST CAP 74 I I 1 I I S/4fl-50L I I I I I F Zy Z �e4 rJxcr m 2z'{ 4/1-51 i 1 1 1 \ r 1E11 1"TO 1/2" MAX. 41 I I I I 2x6 STRINGER V BETyy, INTERIOR FIN. N I I I (EXTERIOR SIDE ONLY) 1 1 1 I FACE OF FENCE I I BOARDS AND I I I I 1x6 FENCE PANELS INTERIOR FACE OF Il 1 I 1 1 (ALTERNATING 1" LAP) POSTS,TYP. I I I 11 I I A77 q ;o I I I I I I I `� 2x4 STRINGER I II II 1 1 00" (EXTERIOR SIDE ONLY) 4 EXTERIOR r; COURTYARD I I I I I l / SIDE SIDE I 11 11 P.T.6x6 POSTS 1 II I I I I I O.C.,TYP. c" ,.� -O I 2x6 BOTTOM STRINGER I 1 b (EX4F2IQR SIDE ONLY) 1 1 I FINISHED GRADE �I 1 \ \\ .�\ \; •\ ,�\ /�\ .\ iIII '` \\ o CONCRETE FOOTING . 4I 3" MIN. � ALL SIDES,TYP. CRUSHED ROCK i / �,i._,, \/ ,1,y.4 \//,/// S1l APPLICANT MATERIALS q City of Tigard ;> , -. ;i p COMMUNITY DEVELOPMENT DEPARTMENT °' ... .t" '3 -'.`; TIGARD, Master Land Use Application LAND USE APPLICATION TYPE ❑ Accessory Dwelling Unit(ADU) ® Modification: ®Type I O Type II ❑ Adjustment 0 Planned Development: ❑ Annexation O Consolidated Plan 0 Comprehensive Plan Map Amendment O Concept Plan ❑ Conditional Use ❑ Detailed Plan ❑ Downtown Development Review: 0 Sensitive Lands Review: O Type I O Type II CD Type I O Type II O Type III O Adjustment 0 Site Development Review: O Type I 0 Type II 0 Home Occupation—Type II 0 Subdivision 0 Land Partition 0 Temporary Use Permit O Lot Line Adjustment/Lot Consolidation 0 Urban Forestry Plan: 0 Marijuana Facility Permit O Modification O Discretionary Review 0 Miscellaneous: 0 Zoning Map Amendment 0 Type II C) Type III PROJECT INFORMATION Project name: Madrona Recovery Expansion Brief description of project: Change of building occupancy to medical office use. Site improvements include new fencing and restriped parking lot for increased accessibility and parking count. 15 of the required 16 stalls are provided. A minor modification is requested for a shared parking agreement with the adjacent property (under same ownership) to meet parking reqs. SITE INFORMATION Location (address if available): 6980 SW Varns Street Tax map and tax lot number(s): 2S101 DA02000 Site size: Zone: APPLICANT INFORMATION Name: John Thornton j Madrona Recovery Mailing address: 7000 SW Varns Street City/State: Tigard, OR Zip: 97223 Phone: (503) 749-0200 Email: ihornton(cD_madronarecovery.com Applicant's representative: Brendan Sanchez, AIA I Access Architecture Phone: (360) 326-1221 Email: brendanAaccess-arch.com City of Tigard • 13125 SW Hall Blvd. • Tigard,Oregon 97223 • wwwtigard-or.gov • 5(13-718-2421 • Page 1 of 2 PROPERTY OWNER INFORMAT ION ®same as applicant (Attach list for additional owners) Name: Mailing address: City/State: Zip: Phone: Email: SUBMITTAL REQUIREMENTS In addition to this application form,you must submit all required items listed in Subsection 18.710.030.0 of Tigard's Community Development Code. If you are unsure what is required with your application,please contact the planner on duty at 503-718-2421 or tigardplanneronduty a,tigard-or.gov. I certify that I am the property owner or I am eligible to initiate this application,as provided in the Tigard Community Development Code. To the best of my knowledge,all the information provided within this application package ompiete and accurate. I Brendan Sanchez. AIA 8/24/2020 A c s signature* Print name Date o er's s' a * Print name Date J d4., FiTc-/---° i erty owner's signature* Print name Date *The owner must sign this application or submit a separate written authorization when the owner and applicant are different people. STAFF USE ONLY D � 32 ApplicationReceived b} St-; Date t-%'26/2R,?0 fee:. 53�� � �' C µ w Fib"s ReIattit Determined complete by: Date: 5, rfli° - City of Tigard • 13125 SW Hall Blvd • Tigard,Oregon 97223 • www.tigard-or.gov • 503-718-2421 • Page 2 of 2 Access!Architecture MADRONA RECOVERY CENTER T.I. - TYPE I MINOR MODIFICATION NARRATIVE August 26th,2020 18.310 RESIDENTIAL GENERAL PROVISIONS 18.310.20 Fence and Wall Standards Fences and walls may be located within required setbacks. Fences and walls located within required setbacks are subject to the standards in this section. Fences and walls located outside required setbacks are subject to the applicable standards in Chapter 18.320, Commercial Zone Development Standards,or Chapter 18.330, Industrial Zone Development Standards. A. Fences and walls in a required front setback may be a maximum of 3 feet in height where abutting a local or neighborhood street and a maximum of 6 feet in height where abutting a collector or arterial street. B. Fences and walls in a required side,street side,or rear setback may be a maximum of 8 feet in height. Fences and walls 7 feet or more in height require a building permit C. Fences and walls must meet vision clearance area requirements in Chapter 18.930,Vision Clearance Areas. Applicant Response: Part of the proposed fence will be located in a street side setback. The fence will be a maximum of 8 feet in height.A building permit application for the fence will be submitted at the time of submittal for the tenant improvement. 18.320 COMMERCIAL ZONE DEVELOPMENT STANDARDS 18.320.040 Development Standards Applicant Response: Not applicable.No modifications are proposed in relation to landscaping, waste&recycling areas,or building lighting. 18.410 OFF-STREET PARKING AND LOADING 18.410.040 General Design Standards Refer to Section 18.410.040 for all general design standards for parking. If proposing modifications to parking lot lighting, refer to Section 18.410.040.H for lighting standards. Applicant Response: No modifications are proposed to parking lot lighting. www.access-arch.com 1400 Columbia Street, Ste 120,Vancouver,WA 98660 1360.326.1220 Access Architecture 18.410.070 Vehicle Parking Quantity Standards The minimum parking requirement for medical office is 3.0 spaces for every 1,000 square feet of floor area.The subject building is 4,100 square feet in size;therefore,the minimum parking requirement for this site is 16 spaces(fractional space requirements are counted as a whole space).The current proposal is under-parked. Applicant Response: The existing parking lot will be restriped to provide 15 of the required 16 parking stalls.The remaining stall requirement will be satisfied through a shared parking agreement,in accordance with Section 18.410.030.E,with the adjacent property at 7000 SW Varns Street(also owned by the Applicant). The adjacent property has 27 parking stalls,where only 26 are required by Code.Therefore the aggregate parking count of 42 stalls between the two properties meets the requirements of the Community Development Code. www.access-arch.com 1400 Columbia Street, Ste 120,Vancouver,WA 98660 1360.326.1220 Washington County.Oregon 2020-078435 D-MALR Stn=16 M LOPEZ 08/19/2020 12:37:03 PM 535.00 511.00$5.00 S60.00 $111.00 I,Margaret Garza,Director of Assessment and Taxation and Ex- Ofhcio County Clerk for Washington County,Oregon.do hereby certify that the within instrument of writing was received and ID recorded in the book of records of said county. U Margaret Garza,Director of Assessment WHEN RECORDED MAIL TO: and Taxation, Ex-Officio County Clerk Craft3 42 7th Street,Suite 100 a,�6A Astoria,OR 97103 FOR RECORDER'S USE ONLY cD 0 CRAFT ASSIGNMENT OF RENTS THIS ASSIGNMENT OF RENTS dated August 10, 2020, is made and executed between MRC RE LLC, an Oregon limited liability company, whose address is 7000 SW Varns St, Tigard, OR 97223 (referred to below as "Grantor") and Craft3, whose address is 42 7th Street, Suite 100, Astoria, OR 97103 (referred to below as "Lender"). ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and conveys to Lender all of Grantor's right, title, and interest In and to the Rents from the following described Property located in Washington County, State of Oregon: See Exhibit A, which is attached to this Assignment and made a part of this Assignment as it fully set forth herein. The Property or its address is commonly known as 6980 and 6996-7000 SW Varns St, Tigard, OR 97223. The Property tax identification number is R458882, R458891 and R458908. THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents,Grantor shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding. GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as disclosed to and accepted by Lender in writing. Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and convey the Rents to Lender. No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force. No Further Transfer. Grantor will not sell, assign, encumber,or otherwise dispose of any of Grantor's rights in the Rents except as provided in this Assignment. LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following rights,powers and authority: Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all Rents to be paid directly to Lender or Lender's agent. Enter the Property. Lender may enter upon and take possession of the Property;demand,collect and receive from the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the Property, including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property. ASSIGNMENT OF RENTS Loan No: 21969 (Continued) Page 2 Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; to pay the Costs thereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the Properly in proper repair and condition,and also to pay all taxes,assessments and water utilities, and the premiums on fire and other insurance effected by Lender on the Property. Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of Oregon and also all other laws,rules,orders,ordinances and requirements of all other governmental agencies affecting the Property. Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as Lender may deem appropriate. Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's name,to rent and manage the Property,including the collection and application of Rents. Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act exclusively and solely In the place and stead of Grantor and to have all of the powers of Grantor for the purposes stated above. No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing. APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and Lender may pay such costs and expenses from the Rents. Lender,in its sole discretion,shall determine the application of any and all Rents received by it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid. FULL PERFORMANCE- If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor a suitable satisfaction of this Assignment and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Property. Any termination fee required by law shall be paid by Grantor, if permitted by applicable law. LENDERS EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Assignment or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Assignment or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests,encumbrances and other claims, at any time levied or placed on the Rents or the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rale charged under the Note from the dale incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy;or (2) the remaining term of the Note;or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. DEFAULT. Each of the following,at Lender's option,shall constitute an Event of Default under this Assignment: Payment Default. Grantor fails to make any payment when due under the Indebtedness. Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Assignment or in any of the Related Documents or to comply with or to perform any term,obligation,covenant or condition contained in any other agreement between Lender and Grantor, Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment for taxes or insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien. Default In Favor of Third Parties. Any guarantor or Grantor defaults under any loan,extension of credit,security agreement,purchase or sales agreement,or any other agreement,in favor of any other creditor or person that may materially affect any of any guarantor's or Grantor's property or ability to perform their respective obligations under this Assignment or any of the Related Documents. Environmental Default. Failure of any party to comply with or perform when due any term,obligation,covenant or condition contained in any environmental agreement executed in connection with the Properly. False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Assignment or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Collateralization. This Assignment or any of the Related Documents ceases to be in full force and effect(including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Death or Insolvency. The dissolution of Grantor's(regardless of whether election to continue is made), any member withdraws from the limited liability company, or any other termination of Grantor's existence as a going business or the death of any member, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's properly, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding,self-help, repossession or any other method, by any creditor of Grantor or by any governmental agency against the Rents or any property securing the Indebtedness. This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the ASSIGNMENT OF RENTS Loan No: 21969 (Continued) Page 3 claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, In an amount determined by Lender,in its sole discretion,as being an adequate reserve or bond for the dispute. Property Damage or Loss. The Property is lost, stolen, substantially damaged, sold, borrowed against, levied upon, seized, or attached. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes incompetent,or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender in good faith believes itself insecure. Cure Provisions. If any default,other than a default in payment, is curable and if Grantor has not been given a notice of a breach of the same provision of this Assignment within the preceding twelve (12)months,it may be cured if Grantor,after Lender sends written notice to Grantor demanding cure of such default: (1) cures the default within twelve (12) days;or (2) if the cure requires more than twelve (12) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter,Lender may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law: Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable,including any prepayment penalty that Grantor would be required to pay. Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights provided for in the Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent,or through a receiver. Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property,with the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds,over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount, Employment by Lender shall not disqualify a person from serving as a receiver. Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by law. Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy,and an election to make expenditures or to take action to perform an obligation of Grantor under this Assignment,atter Grantor's failure to perform,shall not affect Lender's right to declare a default and exercise its remedies. Attorneys' Fees; Expenses. If Lender Institutes any suit or action to enforce any of the terms of this Assignment, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial and upon any appeal. Whether or not any court action Is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys'fees and Lender's legal expenses, whether or not there Is a lawsuit, including attorneys'fees and expenses for bankruptcy proceedings(including efforts to modify or vacate any automatic stay or Injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports),surveyors'reports, and appraisal tees,title insurance,and fees for the Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment: Amendments. This Assignment, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Assignment. No alteration of or amendment to this Assignment shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to be used to interpret or define the provisions of this Assignment. Choice of Venue. If there is a lawsuit,Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Washington County,State of Oregon. Merger. There shall be no merger of the interest or estate created by this Assignment with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent of Lender. Interpretation. (1) In all cases where there is more than one Borrower or Grantor, then all words used in this Assignment in the singular shall be deemed to have been used in the plural where the context and construction so require. (2) If more than one person signs this Assignment as"Grantor,"the obligations of each Grantor are joint and several. This means that if Lender brings a lawsuit, ASSIGNMENT OF RENTS Loan No: 21969 (Continued) Page 4 Lender may sue any one or more of the Grantors. If Borrower and Grantor are not the same person, Lender need not sue Borrower first, and that Borrower need not be joined in any lawsuit. (3) The names given to paragraphs or sections in this Assignment are for convenience purposes only.They are not to be used to interpret or define the provisions of this Assignment. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Assignment. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Assignment, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Assignment. Any party may change its address for notices under this Assignment by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor,any notice given by Lender to any Grantor is deemed to be notice given to all Grantors. Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this Assignment are granted for purposes of security and may not be revoked by Grantor until such time as the same are renounced by Lender. Severabllity. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid, or unenforceable as to any circumstance,that finding shall not make the offending provision illegal, invalid,or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified,it shall be considered deleted from this Assignment. Unless otherwise required by law,the illegality, invalidity, or unenforceability of any provision of this Assignment shall not affect the legality, validity or enforceability of any other provision of this Assignment. Successors and Assigns. Subject to any limitations stated In this Assignment on transfer of Grantor's interest,this Assignment shall be binding upon and inure to the benefit of the parties,their successors and assigns. If ownership of the Properly becomes vested in a person other than Grantor,Lender,without notice to Grantor, may deal with Grantor's successors with reference to this Assignment and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Assignment or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Assignment. Waive Jury. All parties to this Assignment hereby waive the right to any jury trial in any action,proceeding,or counterclaim brought by any party against any other party. Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Oregon as to all Indebtedness secured by this Assignment. Waiver of Right of Redemption. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY CONTAINED IN THIS ASSIGNMENT, GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OF REDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE ON GRANTOR'S BEHALF AND ON BEHALF OF EACH AND EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF GRANTOR, ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY SUBSEQUENT TO THE DATE OF THIS ASSIGNMENT. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Assignment. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural,and the plural shall Include the singular, as the context may require. Words and terms not otherwise defined in this Assignment shall have the meanings attributed to such terms in the Uniform Commercial Code: Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may be amended or modified from time to time,together with all exhibits and schedules attached to this ASSIGNMENT OF RENTS from time to time. Borrower. The word"Borrower"means MRC RE LLC. Default. The word"Default"means the Default set forth in this Assignment in the section titled"Default". Event of Default. The words"Event of Default"mean any of the events of default set forth in this Assignment in the default section of this Assignment. Grantor. The word"Grantor"means MRC RE LLC. Guarantor. The word"Guarantor"means any guarantor,surety,or accommodation party of any or all of the Indebtedness. Guaranty. The word"Guaranty"means the guaranty from Guarantor to Lender,including without limitation a guaranty of all or part of the Note. Indebtedness. The word"Indebtedness"means all principal,interest, and other amounts,costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Lender to enforce Grantor's obligations under this Assignment, together with interest on such amounts as provided in this Assignment. ASSIGNMENT OF RENTS Loan No: 21969 (Continued) Page 5 Lender. The word"Lender"means Craft3,its successors and assigns. Note. The word "Note" means the promissory note dated August 10, 2020, In the original principal amount of $1,660,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of,and substitutions for the promissory note or agreement. Property. The word "Property" means all of Grantor's right, title and interest in and to all the Property as described in the "Assignment"section of this Assignment. Related Documents. The words"Related Documents"mean all promissory notes, credit agreements,loan agreements,environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments,agreements and documents,whether now or hereafter existing,executed in connection with the Indebtedness. Rents. The word"Rents"means all of Grantor's present and future rights,title and Interest in, to and under any and all present and future leases,including,without limitation,all rents,revenue,income,issues,royalties,bonuses,accounts receivable,cash or security deposits,advance rentals,profits and proceeds from the Property,and other payments and benefits derived or to be derived from such leases of every kind and nature, whether due now or later, including without limitation Grantor's right to enforce such teases and to receive and collect payment and proceeds thereunder. THE UNDERSIGNED ACKNOWLEDGES HAVING READ AU.THE PROVISIONS OF THIS ASSIGNMENT, AND NOT PERSONALLY BUT AS AN AUTHORIZED SIGNER, HAS CAUSED THIS ASSIGNMENT TO BE SIGNED AND EXECUTED ON BEHALF OF GRANTOR ON AUGUST 10,2020. GRANTOR: MAC RECC �L J n Y.Thornton, of MRC RE LLC LIMITED LIABILITY COMPANY ACKNOWLEDGMENT , � OFFICIAL STAMP TREVOR GARRETT CHEYNE ✓STATE OF C1 ) NOTARY PUBLIC-OREGON /�� )SS ®„,� COMMISSION NO.967534 COUNTY OF/" /[if - ) MY COMMISSION EXPIRES OCTOBER 15,2021 On this l day of " I L/t J , 20 �. before me, the undersigned Notary Public, personally ap aced John Y.Thornton,Jr.,Manager of MRC E LLC,and known to me to be a member or designated agent of the limited liability company that executed the ASSIGNMENT OF RENTS and acknowledged the Assignment to be the free and voluntary act and deed of the limited liability company, by authority of statute, its articles of organization or its operating agreement, for the uses and purposes therein mentioned, and n oath stated that he or e Is authorized to execute this Assignment and in fact executed the Assignment on behalf of the limi comps By Residing at (( evlrfre.,- � Notary Pu c in nd fort a State of My commission expires / ( ?" LaserPro, Ver. 19.2.0.042 Copr. Finastra USA Corporation 1997, 2020. All Rights Reserved. • OR C:\Distrib\CFI\LPUG14.FC TR-10017 PR-98 EXHIBIT"A" LEGAL DESCRIPTION PARCEL I: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of Tigard, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, being more particularly described as follows, to-wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod and the true place of beginning; thence leaving said Westerly line, South 89°11'10" East, 96.00 feet to a 5/8 inch iron rod; thence North 0°48'50" East, 53.25 feet to a 5/8 inch iron rod; thence South 88°31'10" East, 81.22 feet to a 5/8 inch iron rod; thence North 1°21'10"West, 88.47 feet to a 5/8 inch iron rod in the Southwesterly right of way line of the Beaverton-Tigard Highway; thence Northwesterly along said Southwesterly right of way line on a spiral curve left, 308.75 feet, more or less, (chord bears North 31°15'39"West 308.59 feet)to the intersection of the Westerly line of said Lot 3, VARNS ACRES; thence leaving said Southwesterly right of way line South 2°14'20" West along said Westerly line of Lot 3, VARNS ACRES, 88.78 feet to a Oregon State Highway right of way monument; thence continuing South 2°14'20" West, 313.54 feet to the true place of beginning. EXCEPTING THEREFROM that portion taken by the State of Oregon, by and through is Department of Transportation by Case No. C990489CV, dated May 3, 2000, State Circuit Court, Washington County, a copy of which recorded May 18, 2005, as Recording No. 2005-055513, Records of Washington County. PARCEL II: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, created pursuant to property line adjustment in City of Tigard Planning File No. LLA2013-00003, dated October 24, 2013, survey of which was filed February 18, 2014 as Public Survey No. 32163 in the Washington County Surveyors Office, and being more particularly described as follows: Commencing at a 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon; thence South 89°11'10" East, along the Southerly boundary of said Lot 3, a distance of 138.00 feet to a 5/8 inch x 30 inch iron rod; thence continuing South 89°11'10" East, 192.00 feet to the Southwest corner of Lot 4, VARNS ACRES; thence continuing South 89°11'10" East, along the South line of said Lot 4, to the Southwesterly right-of-way line of the Beaverton- Tigard Highway (also Oregon State Highway 217); thence North 30°29'42" West, along the right-of-way line to the point of intersection of said Southwesterly right-of-way with the East line of said Lot 3; thence continuing North 30°29'42"West, along said Southwesterly right-of-way line 225.84 feet to a 3/4 inch iron rod at a point"spiral tangent"; thence Northwesterly along a spiral curve to the left 39°30'13"West, 39.14 feet to a 5/8 inch iron rod (long chord bears North 30°30'13"West 39.41 feet); thence leaving said spiral curve, South 1°21'10" East, 88.47 feet to a 5/8 inch iron rod; thence North 88°31'10" West, 12.00 feet to the true point of beginning, at a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors" ; thence North 88°31'10"West, 69.22 feet to a 5/8 inch iron rod; thence South 0°48'50" West, 53.25 feet to a 5/8 inch iron rod; thence South 89°11'10" East 36.00 feet to a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors"; thence North 33°9'42" East, 62.08 feet to the point of beginning. PARCEL III: A tract of land situated in Section 1, Township 2 South, Range 1 West, Willamette Meridian, Washington County, Oregon, being a part of Lot 3, VARNS ACRES, being more particularly described as follows, to- wit: Beginning at a 34 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod; thence leaving said Westerly line South 89°11'10" East 138.00 feet to a railroad spike in a black top driveway; thence South 2°14'20" West parallel with the Westerly line of said Lot 3, VARNS ACRES, 187.00 feet to the Southerly line of said Lot 3; thence North 89°11'10" West along said Southerly line 138.00 feet to the place of beginning. TOGETHER WITH a perpetual non-exclusive easement for access, as described in document recorded October 27, 1983, as Recorder's Fee No. 83039764, over a 30 foot strip of land, the center line of which is described as follows: Beginning at a point in the centerline of said easement, which point is South 89°11' 10" East, 138.00 feet and North 55°54'10" West, 60.70 feet from a 3/4 inch iron rod at the Southwest corner of Lot 3, VARNS ACRES, from said place of beginning thence along the centerline of said easement (15.00 feet on each side of the following courses and distances) North 24°42'50" East, 103.00 feet; North 2°07'50" East, 47.00 feet; North 35°44'50" East, 72.00 feet; North 4°38'40"West, 91.00 feet; North 33°29'10"West, 264.67 feet to the terminus of said easement; said terminus bears North 2°14'20" East, 542.64 feet from said 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES. E Washington County,Oregon 2020-078437 D-HACK 08/19/2020 12:37:03 PM S1n=16 M LOPEZ 535.00 511.00 55.00$60.00 $111.00 I,Margaret Garza,Director of Assessment and Taxation and Ex. Officio County Clerk for Washington County,Oregon,do hereby certify that the within instrument of writing was received and recorded in the book of records of said county. Margaret Garza,Director of Assessment WHEN RECORDED MAIL TO: and Taxation,Ex-Officio County Clerk /ab. Craft3 42 7th Street,Suite 100 Astoria, OR 97103 FOR RECORDER'S USE ONLY /OA CRAFT ASSIGNMENT OF RENTS THIS ASSIGNMENT OF RENTS dated August 10, 2020, is made and executed between MRC RE LLC, an Oregon limited liability company, whose address Is 7000 SW Varns St, Tigard, OR 97223 (referred to below as "Grantor") and Craft3, whose address Is 42 7th Street, Suite 100, Astoria, OR 97103 (referred to below as "Lender"). ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following described Property located in Washington County, State of Oregon: See Exhibit A, which is attached to this Assignment and made a part of this Assignment as if fully set forth herein. The Property or its address is commonly known as 6980 and 6996-7000 SW Varns St, Tigard, OR 97223. The Property tax identification number is R458882, R458891 and R458908. THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents,Grantor shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and operate and manage the Property and collect the Rents,provided that the granting of the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding. GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as disclosed to and accepted by Lender in writing. Right to Assign. Grantor has the full right,power and authority to enter into this Assignment and to assign and convey the Rents to Lender. No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force. No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as provided in this Assignment. LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following • rights,powers and authority: Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all Rents to be paid directly to Lender or Lender's agent. Enter the Property. Lender may enter upon and lake possession of the Property;demand, collect and receive from the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the !� Property, including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property. ASSIGNMENT OF RENTS Loan No: 21969-1 (Continued) Page 2 Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same In repair;to pay the costs thereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the Property In proper repair and condition,and also to pay all taxes,assessments and water utilities, and the premiums on fire and other insurance effected by Lender on the Property. Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of Oregon and also all other laws,rules,orders,ordinances and requirements of all other governmental agencies affecting the Property. Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as Lender may deem appropriate. Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate,either in Lender's name or in Grantor's name,to rent and manage the Property,including the collection and application of Rents. Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act exclusively and solely in the place and stead of Grantor and to have all of the powers of Grantor for the purposes stated above. No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing. APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and Lender may pay such costs and expenses from the Rents. Lender,in its sole discretion,shall determine the application of any and all Rents received by it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid. FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor a suitable satisfaction of this Assignment and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Property. Any termination fee required by law shall be paid by Grantor,if permitted by applicable law. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Assignment or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor Is required to discharge or pay under this Assignment or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests,encumbrances and other claims, at any time levied or placed on the Rents or the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (8) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy;or (2) the remaining term of the Note;or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies 10 which Lender may be entitled upon Default. DEFAULT. Each of the following,at Lender's option,shall constitute an Event of Default under this Assignment: Payment Default. Grantor fails to make any payment when due under the Indebtedness. Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Assignment or in any of the Related Documents or to comply with or to perform any term,obligation,covenant or condition contained in any other agreement between Lender and Grantor. Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment for taxes or insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien: Default in Favor of Third Parties. Any guarantor or Grantor defaults under any loan,extension of credit, security agreement,purchase or sales agreement,or any other agreement, in favor of any other creditor or person that may materially affect any of any guarantor's or Grantor's property or ability to perform their respective obligations under this Assignment or any of the Related Documents. • Environmental Default. Failure of any party to comply with or perform when due any term,obligation,covenant or condition contained in any environmental agreement executed in connection with the Property. False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Assignment or the Related Documents is false or misleading In any material respect,either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Collateralizatlon. This Assignment or any of the Related Documents ceases to be in full force and effect(Including failure of any collateral document to create a valid and perfected security interest or lien)at any time and for any reason. Death or Insolvency. The dissolution of Grantor's(regardless of whether election to continue is made), any member withdraws from the limited liability company, or any other termination of Grantor's existence as a going business or the death of any member, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property,any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Grantor or by any governmental agency against the Rents or any property securing the Indebtedness. This Includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However,this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the ASSIGNMENT OF RENTS Loan No: 21969-1 (Continued) Page 3 claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender,in its sole discretion,as being an adequate reserve or bond for the dispute. Property Damage or Loss. The Property is lost, stolen, substantially damaged, sold, borrowed against, levied upon, seized, or attached. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes incompetent,or revokes or disputes the validity of,or liability under, any Guaranty of the Indebtedness, Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender In good faith believes itself insecure. Cure Provisions. If any default, other than a default in payment, is curable and if Grantor has not been given a notice of a breach of the same provision of this Assignment within the preceding twelve(12)months,it may be cured if Grantor,atter Lender sends written notice to Grantor demanding cure of such default: (1) cures the default within twelve (12) days;or (2) if the cure requires more than twelve (12)days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Lender may exercise any one or more of the following rights and remedies,in addition to any other rights or remedies provided by law: Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable,including any prepayment penalty that Grantor would be required to pay. Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness, In furtherance of this right, Lender shall have all the rights provided for in the Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent,or through a receiver. Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property,with the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by law. Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy,and an election to make expenditures or to take action to perform an obligation of Grantor under this Assignment,after Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies. Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Assignment, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender Incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys'fees and Lender's legal expenses, whether or not there is a lawsuit, including attorneys'fees and expenses for bankruptcy proceedings(including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports(including foreclosure reports),surveyors'reports, and appraisal fees,title insurance,and fees for the Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment: Amendments. This Assignment, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Assignment. No alteration of or amendment to this Assignment shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to be used to interpret or define the provisions of this Assignment. Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Washington County,State of Oregon. Merger. There shall be no merger of the interest or estate created by this Assignment with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent of Lender. Interpretation. (1) In all cases where there is more than one Borrower or Grantor, then all words used in this Assignment in the singular shall be deemed to have been used in the plural where the context and construction so require. (2) If more than one person signs this Assignment as"Grantor,"the obligations of each Grantor are joint and several. This means that if Lender brings a lawsuit, ASSIGNMENT OF RENTS Loan No: 21969-1 (Continued) Page 4 Lender may sue any one or more of the Grantors. If Borrower and Grantor are not the same person, Lender need not sue Borrower first,and that Borrower need not be joined In any lawsuit. (3) The names given to paragraphs or sections in this Assignment are for convenience purposes only.They are not to be used to interpret or define the provisions of this Assignment. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Assignment. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Assignment, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier,or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Assignment. Any party may change Its address for notices under this Assignment by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor,any notice given by Lender to any Grantor is deemed to be notice given to all Grantors. Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this Assignment are granted for purposes of security and may not be revoked by Grantor until such time as the same are renounced by Lender. Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid, or unenforceable as to any circumstance,that finding shall not make the offending provision illegal,invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified,it shall be considered deleted from this Assignment. Unless otherwise required by law,the illegality, invalidity, or unenforceability of any provision of this Assignment shall not affect the legality, validity or enforceability of any other provision of this Assignment. Successors and Assigns. Subject to any limitations stated In this Assignment on transfer of Grantor's interest,this Assignment shall be binding upon and inure to the benefit of the parties,their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor,Lender,without notice to Grantor,may deal with Grantor's successors with reference to this Assignment and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Assignment or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Assignment. Waive Jury. All parties to this Assignment hereby waive the right to any jury trial in any action, proceeding,or counterclaim brought by any party against any other party. Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the Stale of Oregon as to all Indebtedness secured by this Assignment. Waiver of Right of Redemption. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY CONTAINED IN THIS ASSIGNMENT, GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OF REDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE ON GRANTOR'S BEHALF AND ON BEHALF OF EACH AND EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF GRANTOR, ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY SUBSEQUENT TO THE DATE OF THIS ASSIGNMENT. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Assignment. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall Include the singular, as the context may require. Words and terms not otherwise defined in this Assignment shall have the meanings attributed to such terms In the Uniform Commercial Code: Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may be amended or modified from time to time, together with all exhibits and schedules attached to this ASSIGNMENT OF RENTS from time to time. Borrower. The word"Borrower"means MRC RE LLC. Default. The word"Default"means the Default set forth in this Assignment in the section titled"Default". Event of Default. The words"Event of Default" mean any of the events of default set forth in this Assignment in the default section of this Assignment. Grantor. The word"Grantor"means MRC RE LLC. Guarantor. The word"Guarantor"means any guarantor,surety,or accommodation party of any or all of the Indebtedness. Guaranty. The word"Guaranty"means the guaranty from Guarantor to Lender,including without limitation a guaranty of all or part of the Note. indebtedness. The word"Indebtedness"means all principal,interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Lender to enforce Grantor's obligations under this Assignment, together with interest on such amounts as provided in this Assignment. ASSIGNMENT OF RENTS Loan No: 21969-1 (Continued) Page 5 Lender. The word"Lender"means Craft3,Its successors and assigns. ' Note. The word "Note" means the promissory note dated August 10, 2020, in the original principal amount of $1,155,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of,and substitutions for the promissory note or agreement. Property. The word "Property" means at of Grantor's right, title end interest in and to all the Property as described in the "Assignment"section of this Assignment. Related Documents. The words"Related Documents"mean all promissory notes,credit agreements,loan agreements,environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and an other instruments,agreements and documents,whether now or hereafter existing,executed in connection with the indebtedness. Rents. The word"Rents"means all of Grantor's present and future rights,title and interest in, to and under any and all present and future leases, including,without limitation,all rents,revenue,income,issues, royalties,bonuses,accounts receivable,cash or security deposits,advance rentals,profits and proceeds from the Property,and other payments and benefits derived or to be derived from such leases of every kind and nature,whether due now or later, including without limitation Grantor's right to enforce such leases and to receive and collect payment and proceeds thereunder. THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS ASSIGNMENT, AND NOT PERSONALLY BUT AS AN AUTHORIZED SIGNER, HAS CAUSED THIS ASSIGNMENT TO BE SIGNED AND EXECUTED ON BEHALF OF GRANTOR ON AUGUST 10,2020. GRANTOR: MRC LL n .Thomt ,Jr.,Manager of MRC RE LLC LIMITED LIABILITY COMPANY ACKNOWLEDGMENT � /' /:'�. OFFICIAL STAMP STATE OF y-C ) jr. ' TREVOR GARRETT CHEYNE SS NOTARY PUBLIC-OREGON frt /�j COUNTY OF / ���d ( )On this (� day of /Cf v�j v y 20 before me, the undersigned Notary Public, personally appea d John Y.Thornton,Jr.,Manager of M C RE LLCC and known to me to be a member or designated agent of the limited liability company that executed the ASSIGNMENT OF RENTS and acknowledged the Assignment to be the free and voluntary act and deed of the limited liability company, by authority of statute, its articles of organization or Its operating agreement, for the uses and purposes therein mentioned, a oath stated that he or she ' authorized to execute this Assignment and in fact executed the Assignment on behalf of the li ' I Ity company. - (v'1Byat /'^. y Pub9 In an or the Slat My commission expires , i(s7-)/ LaserPro, Ver. 19,2.0.042 Copr. Finastra USA Corporation 1997, 2020. All Rights Reserved. - OR C:\Distrib\CFItPL\G14.FC TR-10066 PR-98 EXHIBIT "A" LEGAL DESCRIPTION PARCEL I: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of Tigard, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, being more particularly described as follows, to-wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod and the true place of beginning; thence leaving said Westerly line, South 89°11'10" East, 96.00 feet to a 5/8 inch iron rod; thence North 0°48'50" East, 53.25 feet to a 5/8 inch iron rod; thence South 88°31'10" East, 81.22 feet to a 5/8 inch iron rod; thence North 1°21'10"West, 88.47 feet to a 5/8 inch iron rod in the Southwesterly right of way line of the Beaverton-Tigard Highway; thence Northwesterly along said Southwesterly right of way line on a spiral curve left, 308.75 feet, more or less, (chord bears North 31°15'39"West 308.59 feet)to the intersection of the Westerly line of said Lot 3, VARNS ACRES; thence leaving said Southwesterly right of way line South 2°14'20"West along said Westerly line of Lot 3, VARNS ACRES, 88.78 feet to a Oregon State Highway right of way monument; thence continuing South 2°14'20" West, 313.54 feet to the true place of beginning. EXCEPTING THEREFROM that portion taken by the State of Oregon, by and through is Department of Transportation by Case No. C990489CV, dated May 3, 2000, State Circuit Court, Washington County, a copy of which recorded May 18, 2005, as Recording No. 2005-055513, Records of Washington County. PARCEL II: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, created pursuant to property line adjustment in City of Tigard Planning File No. LLA2013-00003, dated October 24, 2013, survey of which was filed February 18, 2014 as Public Survey No. 32163 in the Washington County Surveyors Office, and being more particularly described as follows: Commencing at a 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon; thence South 89°11'10" East, along the Southerly boundary of said Lot 3, a distance of 138.00 feet to a 5/8 inch x 30 inch iron rod; thence continuing South 89°11'10" East, 192.00 feet to the Southwest corner of Lot 4, VARNS ACRES; thence continuing South 89°11'10" East, along the South line of said Lot 4, to the Southwesterly right-of-way line of the Beaverton- Tigard Highway (also Oregon State Highway 217); thence North 30°29'42" West, along the right-of-way line to the point of intersection of said Southwesterly right-of-way with the East line of said Lot 3; thence continuing North 30°29'42" West, along said Southwesterly right-of-way line 225.84 feet to a 3/4 inch iron rod at a point"spiral tangent"; thence Northwesterly along a spiral curve to the left 39°30'13"West, 39.14 feet to a 5/8 inch iron rod (long chord bears North 30°30'13" West 39.41 feet); thence leaving said spiral curve, South 1°21'10" East, 88.47 feet to a 5/8 inch iron rod; thence North 88°31'10" West, 12.00 feet to the true point of beginning, at a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors" ; thence North 88°31'10" West, 69.22 feet to a 5/8 inch iron rod; thence South 0°48'50" West, 53.25 feet to a 5/8 inch iron rod; thence South 89°11'10" East 36.00 feet to a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors"; thence North 33°9'42" East, 62.08 feet to the point of beginning. PARCEL III: A tract of land situated in Section 1, Township 2 South, Range 1 West, Willamette Meridian, Washington County, Oregon, being a part of Lot 3, VARNS ACRES, being more particularly described as follows, to- wit: Beginning at a 3/ inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod; thence leaving said Westerly line South 89°11'10" East 138.00 feet to a railroad spike in a black top driveway; thence South 2°14'20" West parallel with the Westerly line of said Lot 3, VARNS ACRES, 187.00 feet to the Southerly line of said Lot 3; thence North 89°11'10" West along said Southerly line 138.00 feet to the place of beginning. TOGETHER WITH a perpetual non-exclusive easement for access, as described in document recorded October 27, 1983, as Recorder's Fee No. 83039764, over a 30 foot strip of land, the center line of which is described as follows: Beginning at a point in the centerline of said easement, which point is South 89°11' 10" East, 138.00 feet and North 55°54'10" West, 60.70 feet from a 3/4 inch iron rod at the Southwest corner of Lot 3, VARNS ACRES, from said place of beginning thence along the centerline of said easement (15.00 feet on each side of the following courses and distances) North 24°42'50" East, 103.00 feet; North 2°07'50" East, 47.00 feet; North 35°44'50" East, 72.00 feet; North 4°38'40"West, 91.00 feet; North 33°29'10"West, 264.67 feet to the terminus of said easement; said terminus bears North 2°14'20" East, 542.64 feet from said 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES. American Land Title Association Certified True and Correct Copy FINAL ALTA Settlement Statement-Borrower Adopted 05-01-2015 WFG National Title Insurance Company File No./Escrow No.: 20-185524 WFG National Title Insurance Print Date 8 Time: 8/19/2020 2:29:13 PM Company 25 NW 23rd Place Suite 1 Officer/Escrow Officer:Trevor Cheyne Portland,OR 97210 Property Address: 6980 SW VARNS STREET TIGARD,OR 97223(WASHINGTON) (2S101DA-02000,R458891) 6996-7000 SW VARNS STREET TIGARD,OR 97223(WASHINGTON) (2S101DA01900,R458882,R458908) Borrower: MRC RE LLC,AN OREGON LIMITED LIABILITY COMPANY 7000 SW Varns Street Portland,OR 97223 •1st Lender: Craft3 409 Maynard Avenue S Suite 200,Seattle,WA 98104 2nd Lender: Craft3 409 Maynard Avenue S Suite 200,Seattle,WA 98104 • 3rd Lender: Craft3 409 Maynard Avenue S Suite 200,Seattle,WA 98104 Settlement Date: 8/18/2020 Disbursement Date: 8/18/2020 Description Borrower Debit Credit Deposits,Credits,Debits Funds to Close from MRC RE LLC,an Oregon limited liability company $234,467.88 New Loans First Loan Principal amount of new loan $1,650,00000 Interest Reserve to Craft3 $55,295.67 Property Tax Monitoring to Craft3(POC$225.00 by MRE RE LLC,an Oregon limited liability) Electronic Funds Transfer Fee to Craft3(POC$225.90 by MRE RE LLC,an Oregon limited liability) UCC Filing Fee to Craft3(POC$35.00 by MRE RE LLC,an Oregon limited liability) UCC Search to Craft3(POC$125.00 by MRE RE LLC,an Oregon limited liability) Credit Report to Craft3(POC$188.00 by MRE RE LLC,an Oregon limited liability) Underwriting Fee to Craft3(POC$150.00 by MRE RE LLC,an Oregon limited liability) Flood Determination Report to Craft3(POC$50.00 by MRE RE LLC,an Oregon limited liability) Business Credit Report to Craft3(POC S150.00 by MRE RE LLC,an Oregon limited liability) Appraisal to Craft3(POC$4.200.00 by MRE RE LLC,an Oregon limited liability) Environmental to Craft3(POC$1,275,00 by MRE RE LLC,an Oregon limited liability) Inspection Company to Craft3(POC S737.50 by MRE RE LLC,an Oregon limited liability) Loan Documents to Craft3(P00$350.00 by MRE RE LLC,an Oregon imited liability) Loan Fee to Craft3(POC 526,000.00 by MRE RE LLC,an Oregon limited liability) Second Loan Principal amount of Second mortgage from Craft3 $1,155,000.00 Furniture,Fixtures&Equipment to Craft3 $31,500.00, Soft Costs to Craft3 $71,015.00 Contralcor to Craft3 $352,262.00 Interest Reserve to Craft3 $25,000.00 Construction Contingency to Craft3 $35,226.00 Electronic Funds Transfer Fee to Craft3 $50.00 UCC Filing to Craft3 535.00 Loan Fee to Craft3(POC$11,464.50 by MRE RE LLC,an Oregon limited liability) $11,635.50 Inspections to Craft3 $13,063.64 Working Capital(Refund of Unused Recording Fees)to Craft3 $570.00 Third Loan • Principal amount of Third mortgage from Craft3 5195,000.00 Maintenace Reserve to Craft3 $100,000.00 Working Capital to Craft3 $45,005.18 Inlerst Reserve to Craft3 $4,000.00 Electronic Funds Transfer Fee to Craft3 $50.00 UCC Filing Fee to Craft3 $35.00 File#20-185524 Page 1 of 2 Printed on 8/19/2020 et 2:29 PM Loan Documents to Crah3 $350.00 • Loan Fee to Craft3 $3,900.00 Title Charges First Loan Lenders coverage$1,650,000.00 Premium to AFC National Title Insurance Company $869.00 OTIRO 209.10 and 222 Commercial Endorsement(s)to WFG National Title Insurance Company $100.00 OTIRO 208.2 Lender Endorsements)to WFG National Title Insurance Company $308.00 Settlement or closing fee to WFG National Title Insurance Company $500.00 Courier Fee to WFG National Title Insurance Company $50.00 Government Service Fee to WFG National Title Insurance Company $50.00 Second Loan Lenders coverage$1,155,000.00 Premium to WFG National Title Insurance Company $1.954.00 OTIRO 208.2 Lender Endorsements)to VVFG National Title Insurance Company $280.00 OTIRO 209.10 and 222 Commercial Endorsement(s)to WFG National Title Insurance Company $100.00 OTIRO 66 Lender Endorsement(s)to WFG National Title Insurance Company $50.00 OTIRO 70 Endorsement(s)to WFG National Title Insurance Company $200.00 Third Loan Lenders coverage$195,000.00 Premium to WFG National Title Insurance Company $491.00 OTIRO 208.2 Lender Endorsement(s)to WFG National Title Insurance Company $69.00 OTIRO 209.10 and 222 Commercial Endorsement(s)to WFG National Title Insurance Company $100.00 OTIRO 66 Lender Endorsement(s)to WFG National Title Insurance Company $50.00 Government Recording and Transfer Charges '. Recording Fees to WFG National Title Insurance Company $630.00 • Additional Settlement Charges Funds for Purchase Escrow 20-187265 to WFG National Title Insurance Company $1,680,486.62 Broker Fee to MK Associates $30,000.00 Funds for Purchase Escrow 472519005916 to Chicago Title Company $764,687.27 Invoice 6394 to Alpine Abatement Associates 54,500.00 Debit Credit Subtotals $3,234,467.88 $3,234,467.88 Due From Borrower $0.00 Totals $3,234,467.88 53,234,467.88 File C 20-185524 Page 2 of 2 printed on 8119/2020 at 2:29 PM American Land Title Association Certified True and Correct Copy FINAL ALTA Settlement Statement-Buyer Adopted 05-01-2015 WFG National Title Insurance Company File No./Escrow No.: 20-187265 WFG National Title Insurance Print Date&Time: 8/19/2020 11:42:03 AM Company 25 NW 23rd Place Suite 1 Officer/Escrow Officer:Trevor Cheyne Portland,OR 97210 Property Address: 6996-7000 SW VARNS STREET PORTLAND,OR 97223(WASHINGTON) (2S101DA01900,R458882,R458908) Buyer: MRC RE LLC,AN OREGON LIMITED LIABILITY COMPANY Settlement Date: 8/19/2020 Disbursement Date: 8/19/2020 Description Buyer Debit Credit Deposits,Credits,Debits Contract sales price $1,708,500.00 Option Payments $8,000.00 Security Deposit $14,656.00 Funds to close from WFG National Title Insurance Company $1,680,486.62 Proration County taxes 7/12020 to 8/192020 @ 821,294.38/Year $2,850.89 County taxes 7/1/2020 to 8/19/2020 @$686.01/Year $91.84 August Rent 8/19/2020 to 9/12020 @$12,330.00/Monih $5,170.65 Tile Charges Owner's coverage$1,708,500.00 Premium to-1/2-WFG National Title Insurance Company $1,186.50 1/2 of Settlement or closing fee to WFG National Title Insurance Company $500.00 1/2 of Government Service Fee to WFG National Title Insurance Company $50.00 1/2 of Delivery/Courier Fees to WFG National Title Insurance Company $33.00 12 of Release/Tracking Fee to WFG National Title Insurance Company $80.00 Government Recording and Transfer Charges 12 of Transfer Tax to WFG National Title Insurance Company $854.50 1/2 of Recording Fees to WFG National Title Insurance Company $52.00 Debit Credit Subtotals S1,711,256.00 $1,711,256.00 Due From Buyer 80.00 Totals $1,711,256.00 $1,711,256.00 File#20-187265 Page 1 of 1 Printed on 8/19/2020 at 11:42 AM Washington County,Oregon 2020-078434 Stn=16 M LOPEZ 08/19/2020 12:37:03 PM $55.00$11.00$5.00$60.00 $131,00 I,Margaret Garza,Director of Assessment and Taxation and Ex- Officio County Clerk for Washington County,Oregon,do hereby E certify that the within instrument of writing was received and E recorded in the book of records of said county. fS Margaret Garza, Director of Assessment WHEN RECORDED MAIL TO: and Taxation,Ex-Officio County Clerk Craft3 S1 42 7th Street, Suite 100 v ll Astoria, OR 97103 FOR RECORDER'S USE ONLY 1.5 CRAFT DEED OF TRUST THIS DEED OF TRUST Is dated August 10, 2020, among MRC RE LLC, an Oregon limited liability company, whose address Is 7000 SW Vams St, Tigard, OR 97223 ("Grantor"); Craft3, whose address is 42 7th Street, Suite 100, Astoria, OR 97103 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and WFG National Title Insurance Company, whose address is 25 NW Place Suite 1, Portland, OR 97210 (referred to below as "Trustee"). CONVEYANCE AND GRANT. For valuable consideration, represented in the Note dated August 10, 2020,in the original principal amount of$1,650,000.00,from Grantor to Lander,Grantor conveys to Trustee for the benefit of Lender as Beneficiary all of Grantor's right,title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rights);and all other rights, royalties, and profits relating to the real property,including without limitation all minerals,oil,gas,geothermal and similar matters,(the "Real Property") located in Washington County, State of Oregon: See Exhibit A, which Is attached to this Deed of Trust and made a part of this Deed of Trust as If fully set forth herein. The Real Property or Its address Is commonly known as 6980 and 6996-7000 SW yarns St, Tigard, OR 97223. The Real Property tax identification number is R458882, R458891 and R458908. Grantor presently assigns to Lender(also known as Beneficiary in this Deed of Trust)all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY,IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust,Grantor shall pay to Lender all amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Grantor's obligations under the Note, this Deed of Trust,and the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2) use,operate or manage the Property;and (3) collect the Rents from the Property. The following provisions relate to the use of the Property or to other limitations on the Property. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11,CHAPTER 424,OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009,AND SECTIONS 2 TO 7,CHAPTER 8, OREGON LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 DEED OF TRUST Loan No: 21969 (Continued) Page 2 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855,OREGON LAWS 2009,AND SECTIONS 2 TO 7,CHAPTER 8,OREGON LAWS 2010. Duty to Maintain. Grantor shall maintain the Property In tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Nuisance,Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit,or suffer any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoing,Grantor will not remove,or grant to any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent. Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written consent. As a condition to the removal of any Improvements,Lender may require Grantor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal value. Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of Trust. Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in effect,of all governmental authorities applicable to the use or occupancy of the Property,including without limitation,the Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond,reasonably satisfactory to Lender,to protect Lender's interest. Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property. DUE ON SALE-CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer,without Lender's prior written consent,of all or any part of the Real Property,or any interest in the Real Property. A"sale or transfer"means the conveyance of Real Property or any right,title or interest in the Real Property;whether legal, beneficial or equitable;whether voluntary or involuntary;whether by outright sale, deed, installment sale contract, land contract,contract for deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property,or by any other method of conveyance of an interest in the Real Property. If any Grantor is a corporation, partnership or limited liability company,transfer also includes any restructuring of the legal entity (whether by merger, division or otherwise) or any change in ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such Grantor. However, this option shall not be exercised by Lender If such exercise is prohibited by federal law or by Oregon law. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust; Payment. Grantor shall pay when due (and in all events prior to delinquency)all taxes, special taxes, assessments, charges(including water and sewer),fines and impositions levied against or on account of the Property,and shall pay when due all claims for work done on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust,except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of Trust. Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days atter Grantor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys'fees, or other charges that could accrue as a result of a foreclosure or sale under the lien, In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the Property. Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any materials are supplied to the Property,if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work,services,or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard,business interruption, and boiler insurance,as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Grantor, upon request of Lender,will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least DEED OF TRUST Loan No: 21969 (Continued) Page 3 thirty(30)days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person. Should the Real Properly be located In an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain flood insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,up to the maximum policy limits set under the National Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the term of the loan. Flood insurance may be purchased under the National Flood Insurance Program, from private insurers providing 'private flood insurance" as defined by applicable federal flood insurance statutes and regulations,or from another flood insurance provider that is both acceptable to Lender in its sole discretion and permitted by applicable federal flood insurance statutes and regulations. Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Grantor fails to do so within fifteen(15)days of the casualty. Whether or not Lender's security is impaired,Lender may,at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property,or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's Interests may appear. Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on each existing policy of insurance showing: (1) the name of the Insurer, (2) the risks insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the expiration date of the policy. Grantor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited 10 Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's behalf may(but shall not be obligated to)take any action that Lender deems appropriate,including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the dale of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: Title. Grantor warrants that: (a)Grantor holds good and marketable title of record to the Property in fee simple,free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy,title report,or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Grantor has the full right, power,and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the interest of Trustee or Lender under this Deed of Trust, Grantor shall defend the action al Grantor's expense. Grantor may be the nominal party in such proceeding,but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation. Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws,ordinances,and regulations of governmental authorities, Survival of Representations and Warranties. All representations, warranties,and agreements made by Grantor In this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such time as Grantor's Indebtedness shall be paid In full. CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender In writing, and Grantor shall promptly take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding,but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation,Lender may at Its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs,expenses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,fees and charges are a part of this Deed of Trust: DEED OF TRUST Loan No: 21969 (Continued) Page 4 Current Taxes,Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for all taxes,as described below,together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Grantor which Grantor Is authorized or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor. Subsequent Taxes. It any tax to which this section applies is enacted subsequent to the date of this Deed of Trust,this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent,or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures,and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect and continue Lender's security Interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default,Grantor shall not remove,sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it available to Lender within three(3)days after receipt of written demand from Lender to the extent permitted by applicable law. Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code)are as stated on the first page of this Deed of Trust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this Deed of Trust: Further Assurances. At any time,and from time to time,upon request of Lender,Grantor will make,execute and deliver,or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be tiled, recorded, refiled,or rerecorded,as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all such mortgages,deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, In the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Grantor's obligations under the Note, this Deed of Trust, and the Related Documents,and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph. Attorney-In-Fact. It Grantor fails to do any of the things referred to in the preceding paragraph,Lender may do so for and in the name of Grantor and at Grantor's expense. For such purposes,Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the purpose of making,executing,delivering,filing, recording,and doing all other things as may be necessary or desirable,in Lender's sole opinion,to accomplish the matters referred to in the preceding paragraph. FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Grantor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Grantor,if permitted by applicable law. EVENTS OF DEFAULT. Each of the following,at Lender's option, shall constitute an Event of Default under this Deed of Trust Payment Default. Grantor fails to make any payment when due under the Indebtedness. Other Defaults. Grantor fails to comply with or to perform any other term,obligation,covenant or condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation,covenant or condition contained in any other agreement between Lender and Grantor. Compliance Default. Failure to comply with any other term,obligation,covenant or condition contained in this Deed of Trust,the Note or in any of the Related Documents. Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien. Environmental Default. Failure of any party to comply with or perform when due any term,obligation,covenant or condition contained in any environmental agreement executed in connection with the Property. Default in Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's obligations under this Deed of Trust or any of the DEED OF TRUST Loan No: 21969 (Continued) Page 5 Related Documents. False Statements. Any warranty, representation or statement made or furnished 10 Lender by Grantor or on Grantor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect,either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Collateralizatlon. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any collateral document to create a valid and perfected security interest or lien)at any time and for any reason. Death or Insolvency. The dissolution of Grantor's(regardless of whether election to continue is made), any member withdraws from the limited liability company, or any other termination of Grantor's existence as a going business or the death of any member, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help, repossession or any other method, by any creditor of Grantor or by any governmental agency against any property securing the Indebtedness. This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion,as being an adequate reserve or bond for the dispute. Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Grantor to Lender,whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes incompetent,or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness is Impaired. Insecurity. Lender in good faith believes itself insecure. Right to Cure. If any default,other than a default in payment,is curable and if Grantor has not been given a notice of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Grantor, after Lender sends written notice to Grantor demanding cure of such default: (1) cures the default within twelve (12) days; or (2) If the cure requires more than twelve (12)days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,Trustee or Lender may exercise any one or more of the following rights and remedies: Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy,and an election to make expenditures or to take action to perform an obligation of Grantor under this Deed of Trust, after Grantor's failure to perform,shall not affect Lender's right to declare a default and exercise its remedies. Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable,including any prepayment penalty which Grantor would be required to pay. Foreclosure. With respect to all or any part of the Real Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law. If this Deed of Trust is foreclosed by judicial foreclosure, Lender will be entitled to a judgment which will provide that if the foreclosure sale proceeds are insufficient to satisfy the judgment,execution may issue for the amount of the unpaid balance of the judgment. UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Code. Collect Rents. Lender shall have the right,without notice to Grantor to take possession of and manage the Property and collect the Rents, including amounts past due and unpaid,and apply the net proceeds,over and above Lender's costs, against the Indebtedness. In furtherance of this right,Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender,then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent,or through a receiver. Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property,with the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. Tenancy at Sufferance. If Grantor remains in possession of the Property atter the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of DEED OF TRUST Loan No: 21969 (Continued) Page 6 Lender or the purchaser of the Property and shall, at Lender's option,either (1) pay a reasonable rental for the use of the Property,or (2) vacate the Property immediately upon the demand of Lender. Other Remedies. Trustee or Lender shall have any other right or remedy provided In this Deed of Trust or the Note or available at law or in equity. Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at least fifteen(15) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with any sale of the Real Property. Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all rights to have the Property marshalled. In exercising Its rights and remedies,the Trustee or Lender shall be free to sell all or any part of the Property together or separately,in one sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property. Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys'tees and Lender's legal expenses, whether or not there is a lawsuit, including attorneys'fees and expenses for bankruptcy proceedings(including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports),surveyors'reports, and appraisal fees,title insurance, and fees for the Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law. Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section. POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this Deed of Trust: Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,Trustee shall have the power to take the following actions with respect to the Property upon the written request of Lender and Grantor: (a)join in preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the public; (b)join in granting any easement or creating any restriction on the Real Property; and (c)join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust. Obligations to Notify. Trustee shall not be obligated to notify any other party of a pending sale under any other trust deed or lien, or of any action or proceeding in which Grantor, Lender, or Trustee shall be a party, unless the action or proceeding is brought by Trustee. Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth above,with respect to all or any part of the Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shall have the right to foreclose by judicial foreclosure,in either case in accordance with and to the full extent provided by applicable law. Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of Washington County,State of Oregon. The instrument shall contain,in addition to all other matters required by state law,the names of the original Lender, Trustee, and Grantor,the book and page where this Deed of Trust is recorded,and the name and address of the successor trustee, and the instrument shall be executed and acknowledged by Lender or its successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power,and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern to the exclusion of all other provisions for substitution. NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law),when deposited with a nationally recognized overnight courier,or, if mailed, when deposited in the United States mail,as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address,as shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes,Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor,any notice given by Lender to any Grantor is deemed to be notice given to all Grantors. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust: Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Annual Reports. If the Property is used for purposes other than Grantor's residence,Grantor shall furnish to Lender, upon request,a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Property. Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust. DEED OF TRUST Loan No: 21969 (Continued) Page 7 Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent of Lender. Choice of Venue. If there is a lawsuit,Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Washington County,State of Oregon. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust,the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be Illegal, invalid, or unenforceable as to any circumstance,that finding shall not make the offending provision illegal,invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Deed of Trust. Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial In any action,proceeding,or counterclaim brought by any party against any other party. Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Oregon as to all Indebtedness secured by this Deed of Trust. Commercial Deed of Trust. Grantor agrees with Lender that this Deed of Trust is a commercial deed of trust and that Grantor will not change the use of the Property without Lender's prior written consent. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code: Beneficiary. The word"Beneficiary"means Craft3, and its successors and assigns. Borrower. The word "Borrower" means MRC RE LLC and includes all co-signers and co-makers signing the Note and all their successors and assigns. Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Grantor, Lender, and Trustee, and Includes without limitation all assignment and security interest provisions relating to the Personal Property and Rents. Default. The word"Default"means the Default set forth in this Deed of Trust in the section titled"Default". Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default section of this Deed of Trust. Grantor. The word"Grantor"means MRC RE LLC. Guarantor. The word"Guarantor"means any guarantor,surety,or accommodation party of any or all of the Indebtedness. Guaranty, The word"Guaranty"means the guaranty from Guarantor to Lender,including without limitation a guaranty of all or part of the Note. Improvements. The word'Improvements"means all existing and future improvements,buildings,structures,mobile homes affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property. Indebtedness. The word"Indebtedness"means all principal,interest,and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Trustee or Lender to enforce Grantor's obligations under this Deed of Trust,together with interest on such amounts as provided in this Deed of Trust. Lander. The word"Lender"means Craft3,its successors and assigns. Note. The word "Note" means the promissory note dated August 10, 2020, In the original principal amount of $1,650,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of,and substitutions for the promissory note or agreement. The maturity date of the Note is September 1, 2030. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property;together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without DEED OF TRUST Loan No: 21969 (Continued) Page 8 limitation all insurance proceeds and refunds of premiums)from any sale or other disposition of the Property. However, should the Real Property be located in an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area,Personal Property Is limited to only those Items specifically covered(currently or hereafter)by Coverage A of the standard flood insurance policy issued in accordance with the National Flood Insurance Program or under equivalent coverage similarly issued by a private insurer to satisfy the National Flood Insurance Act(as amended). Property. The word"Property"means collectively the Real Property and the Personal Property. Real Property. The words"Real Property"mean the real property,interests and rights,as further described in this Deed of Trust. Related Documents. The words"Related Documents"mean all promissory notes,credit agreements,loan agreements,environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents,whether now or hereafter existing,executed In connection with the Indebtedness. Rents. The word "Rents" means all present and future rents, revenues,income, issues,royalties, profits,and other benefits derived from the Property. Trustee. The word "Trustee" means WFG National Title Insurance Company,whose address is 25 NW Place Suite 1, Portland, OR 97210 and any substitute or successor trustees. GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST,AND GRANTOR AGREES TO ITS TERMS. GRANTOR: By: n .Thornton,Jr.,Manager of MRC RE LLC • LIMITED LIABILITY COMPANY ACKNOWLEDGMENT �".�y' OFFICIAL STAMP D(l� r TREVOR GARRETT CHEYNE STATE OF ) �' ,y NOTARY PUBUC-OREGON �j ) 1'44,„olir COMMISSION NO.967534 COUNTY OF v� 1,1fi ! ) MY COMMISSION EXPIRES OCTOBER 15,2021 On this day of .1 I/�r c.v) r t— 20 before me, the undersigned Notary Public, personally appeared John Y.Thornton,Jr.,Manager of MRC RE LLC,and known to me to be a member or designated agent of the limited liability company that executed the Deed of Trust and acknowledged the Deed of Trust to be the free and voluntary act and deed of the limited liability company, by authority of statute, its articles of organization or its operating agreement, for the uses and purposes therein mentioned,and on oath stated that he .r she is thorized to execute this Deed of Trust and in fact executed the Deed of Trust on behalf of the limited li- . • .•. .any. By � _ Residing at Notary Pu. c In and for the State of My commission expires / cl)/ REQUEST FOR FULL RECONVEYANCE (To be used only when obligations have been paid In full) To: _._ ,Trustee The undersigned is the legal owner and holder of all Indebtedness secured by this Deed of Trust. All sums secured by this Deed of Trust have been fully paid and satisfied. You are hereby directed, upon payment to you of any sums owing to you under the terms of this Deed of Trust or pursuant to any applicable statute,to cancel the Note secured by this Deed of Trust(which is delivered to you together with this Deed of Trust),and to reconvey,without warranty,to the parties designated by the terms of this Deed of Trust,the estate now held by you under this Deed of Trust. Please mail the reconveyance and Related Documents to: Date: Beneficiary: By: Its: DEED OF TRUST Loan No: 21969 (Continued) Page 9 LaserPro, Ver. 19.2.0.042 Copr. Finastra USA Corporation 1997, 2020. All Rights Reserved. - OR C:'Distrib\CFN_PUG01.FC TR-10017 PR-98 EXHIBIT"A" LEGAL DESCRIPTION PARCEL I: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of Tigard, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, being more particularly described as follows, to-wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod and the true place of beginning; thence leaving said Westerly line, South 89°11'10" East, 96.00 feet to a 5/8 inch iron rod; thence North 0°48'50" East, 53.25 feet to a 5/8 inch iron rod; thence South 88°31'10" East, 81.22 feet to a 5/8 inch iron rod; thence North 1°21'10" West, 88.47 feet to a 5/8 inch iron rod in the Southwesterly right of way line of the Beaverton-Tigard Highway; thence Northwesterly along said Southwesterly right of way line on a spiral curve left, 308.75 feet, more or less, (chord bears North 31°15'39"West 308.59 feet)to the intersection of the Westerly line of said Lot 3, VARNS ACRES; thence leaving said Southwesterly right of way line South 2°14'20" West along said Westerly line of Lot 3, VARNS ACRES, 88.78 feet to a Oregon State Highway right of way monument; thence continuing South 2°14'20" West, 313.54 feet to the true place of beginning. EXCEPTING THEREFROM that portion taken by the State of Oregon, by and through is Department of Transportation by Case No. C990489CV, dated May 3, 2000, State Circuit Court, Washington County, a copy of which recorded May 18, 2005, as Recording No. 2005-055513, Records of Washington County. PARCEL II: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, created pursuant to property line adjustment in City of Tigard Planning File No. LLA2013-00003, dated October 24, 2013, survey of which was filed February 18, 2014 as Public Survey No. 32163 in the Washington County Surveyors Office, and being more particularly described as follows: Commencing at a 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon; thence South 89°11'10" East, along the Southerly boundary of said Lot 3, a distance of 138.00 feet to a 5/8 inch x 30 inch iron rod; thence continuing South 89°11'10" East, 192.00 feet to the Southwest corner of Lot 4, VARNS ACRES; thence continuing South 89°11'10" East, along the South line of said Lot 4, to the Southwesterly right-of-way line of the Beaverton- Tigard Highway (also Oregon State Highway 217); thence North 30°29'42" West, along the right-of-way line to the point of intersection of said Southwesterly right-of-way with the East line of said Lot 3; thence continuing North 30°29'42"West, along said Southwesterly right-of-way line 225.84 feet to a 3/4 inch iron rod at a point "spiral tangent"; thence Northwesterly along a spiral curve to the left 39°30'13"West, 39.14 feet to a 5/8 inch iron rod (long chord bears North 30°30'13"West 39.41 feet); thence leaving said spiral curve, South 1°21'10" East, 88.47 feet to a 5/8 inch iron rod; thence North 88°31'10" West, 12.00 feet to the true point of beginning, at a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors" ; thence North 88°31'10" West, 69.22 feet to a 5/8 inch iron rod; thence South 0°48'50" West, 53.25 feet to a 5/8 inch iron rod; thence South 89°11'10" East 36.00 feet to a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors"; thence North 33°9'42" East, 62.08 feet to the point of beginning. PARCEL III: A tract of land situated in Section 1, Township 2 South, Range 1 West, Willamette Meridian, Washington County, Oregon, being a part of Lot 3, VARNS ACRES, being more particularly described as follows, to- wit: Beginning at a % inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod; thence leaving said Westerly line South 89°11'10" East 138.00 feet to a railroad spike in a black top driveway; thence South 2°14'20"West parallel with the Westerly line of said Lot 3, VARNS ACRES, 187.00 feet to the Southerly line of said Lot 3; thence North 89°11'10" West along said Southerly line 138.00 feet to the place of beginning. TOGETHER WITH a perpetual non-exclusive easement for access, as described in document recorded October 27, 1983, as Recorder's Fee No. 83039764, over a 30 foot strip of land, the center line of which is described as follows: Beginning at a point in the centerline of said easement, which point is South 89°11' 10" East, 138.00 feet and North 55°54'10" West, 60.70 feet from a 3/4 inch iron rod at the Southwest corner of Lot 3, VARNS ACRES, from said place of beginning thence along the centerline of said easement (15.00 feet on each side of the following courses and distances) North 24°42'50" East, 103.00 feet; North 2°07'50"East, 47.00 feet; North 35°44'50" East, 72.00 feet; North 4°38'40"West, 91.00 feet; North 33°29'10"West, 264.67 feet to the terminus of said easement; said terminus bears North 2°14'20" East, 542.64 feet from said 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES. Washington County.Oregon 2020-078436 DMA 08/19/2020 12:37:03 PM fJ Stn=16 M LOPEZ ( $55.00$11.00 S5.00$60.00 $131.00 I,Margaret Garza,Director of Assessment and Taxation and Ez- Officia County Clerk for Washington County,Oregon,do hereby certify that the within instrument of writing was received and WHEN RECORDED MAIL TO: Craft3 recorded in the book of records of said County. Margaret Garza,Director of Assessment and Taxation,Ex-Officio County Clerk �• 42 7th Street,Suite 100 Astoria,OR 97103 1— FOR RECORDER'S USE ONLY CRAFT DEED OF TRUST THIS DEED OF TRUST is dated August 10, 2020, among MRC RE LLC, an Oregon limited liability company, whose address Is 7000 SW Varns St, Tigard, OR 97223 ("Grantor"); Craft3, whose address is 42 7th Street, Suite 100, Astoria, OR 97103 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and WFG National Title insurance Company, whose address is 25 NW 23rd Place Suite 1, Portland, OR 97210 (referred to below as "Trustee"). CONVEYANCE AND GRANT. For valuable consideration, represented in the Note dated August 10, 2020,in the original principal amount of$1,155,000.00,from Grantor to Lender,Grantor conveys to Trustee for the benefit of Lender as Beneficiary all of Grantor's right,title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rights);and all other rights, royalties, and profits relating to the real property,including without limitation all minerals,oil,gas,geothermal and similar matters,(the "Real Property") located in Washington County, State of Oregon: See Exhibit A, which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully set forth herein. The Real Property or its address Is commonly known as 6980 and 6996-7000 SW Varns St, Tigard, OR 97223. The Real Property tax identification number Is R458882, R458891 and R458908. Grantor presently assigns to Lender(also known as Beneficiary in this Deed of Trust) all of Grantor's right, title, and Interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust,Grantor shall pay to Lender all amounts secured by this Deed of Trust as they become due,and shall strictly and in a timely manner perform all of Grantor's obligations under the Note,this Deed of Trust,and the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2) use,operate or manage the Property;and (3) collect the Rents from the Property. The following provisions relate to the use of the Property or to other limitations on the Property. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND ', 195.305 TO 195.336 AND SECTIONS 5 TO 11,CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, 1 OREGON LAWS 2009, AND SECTIONS 2 TO 7,CHAPTER 8,OREGON LAWS 2010.THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS.BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT,THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010,TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 DEED OF TRUST Loan No: 21969-1 (Continued) Page 2 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17,CHAPTER 855,OREGON LAWS 2009,AND SECTIONS 2 TO 7,CHAPTER 8,OREGON LAWS 2010. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Nuisance,Waste. Grantor shall not cause,conduct or permit any nuisance nor commit, permit,or suffer any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoing,Grantor will not remove,or grant to any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent. Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written consent. As a condition to the removal of any Improvements,Lender may require Grantor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal value. Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of Trust. Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in effect,of all governmental authorities applicable to the use or occupancy of the Property,including without limitation,the Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance,or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond,reasonably satisfactory to Lender,to protect Lender's interest. Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those acts set forth above in this section,which from the character and use of the Property are reasonably necessary to protect and preserve the Property. DUE ON SALE-CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer,without Lender's prior written consent,of all or any part of the Real Property,or any Interest in the Real Property. A"sale or transfer"means the conveyance of Real Property or any right,title or interest in the Real Property;whether legal, beneficial or equitable;whether voluntary or involuntary; whether by outright sale,deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property,or by any other method of conveyance of an interest in the Real Property. If any Grantor is a corporation, partnership or limited liability company,transfer also includes any restructuring of the legal entity (whether by merger, division or otherwise) or any change in ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such Grantor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by Oregon law. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust: Payment. Grantor shall pay when due(and in all events prior to delinquency)all taxes,special taxes, assessments,charges(including water and sewer),fines and impositions levied against or on account of the Property,and shall pay when due all claims for work done on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of Trust. Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or,if a lien is filed,within fifteen(15) days after Grantor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys'fees,or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the Property. Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work Is commenced, any services are furnished,or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work,services,or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay the cost of such Improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a replacement basis for the lull insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause In favor of Lender. Grantor shall also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability Insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard,business interruption, and boiler insurance,as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Grantor,upon request of Lender,will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, Including stipulations that coverages will not be cancelled or diminished without at least DEED OF TRUST Loan No: 21969-1 (Continued) Page 3 thirty (30) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person. Should the Real Property be located In an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain flood insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender,and to maintain such insurance for the term of the loan. Flood insurance may be purchased under the National Flood Insurance Program, from private insurers providing "private flood insurance" as defined by applicable federal flood insurance statutes and regulations,or from another flood insurance provider that Is both acceptable to Lender in its sole discretion and permitted by applicable federal flood insurance statutes and regulations. Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Grantor fails to do so within fifteen(15)days of the casualty. Whether or not Lender's security is Impaired,Lender may,at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property,or the restoration and repair of the Property. 11 Lender elects to apply the proceeds to restoration and repair, Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall,upon satisfactory proof of such expenditure, pay or reimburse Grantor from the proceeds Tor the reasonable cost of repair or restoration if Grantor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued interest, and the remainder, i1 any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear. Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the expiration date of the policy. Grantor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to)take any action that Lender deems appropriate,including but not limited to discharging or paying all taxes, liens, security interests,encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy;or (2) the remaining term of the Note;or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be In addition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: Title. Grantor warrants that: (a)Grantor holds good and marketable title of record to the Property in fee simple,free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy,title report,or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Grantor has the full right, power,and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the interest of Trustee or Lender under this Deed of Trust, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented In the proceeding by counsel of Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation. Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws, ordinances,and regulations of governmental authorities. Survival of Representations and Warranties. All representations,warranties, and agreements made by Grantor In this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing In nature, and shall remain in full force and effect until such time as Grantor's Indebtedness shall be paid in full. CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding,but Lender shall be entitled to participate in the proceeding and to be represented In the proceeding by counsel of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may at Its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs,expenses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,fees and charges are a part of this Deed of Trust: DEED OF TRUST Loan No: 21969-1 (Continued) Page 4 Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for all taxes, as described below,together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes,fees,documentary stamps,and other charges for recording or registering this Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Grantor which Grantor is authorized or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor. Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent,or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures,and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender,Grantor shall take whatever action is requested by Lender to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default,Grantor shall not remove,sever or detach the Personal Property from the Property. Upon default,Grantor shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it available to Lender within three(3)days atter receipt of written demand from Lender to the extent permitted by applicable law. Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code)are as stated on the first page of this Deed of Trust, FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this Deed of Trust: Further Assurances. At any time,and from lime to time,upon request of Lender, Grantor will make,execute and deliver,or will cause to be made, executed or delivered,to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, ref iled,or rerecorded,as the case may be, at such times and in such offices and places as Lender may deem appropriate,any and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Grantor's obligations under the Note,this Deed of Trust, and the Related Documents,and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property,whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph. Attorney-In-Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of Grantor and at Grantor's expense. Far such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the purpose of making,executing,delivering,filing,recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion,to accomplish the matters referred to in the preceding paragraph. FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Grantor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Grantor,if permitted by applicable law. EVENTS OF DEFAULT. Each of the following,at Lender's option,shall constitute an Event of Default under this Deed of Trust: Payment Default. Grantor fails to make any payment when due under the Indebtedness. Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term,obligation,covenant or condition contained in any other agreement between Lender and Grantor. Compliance Default. Failure to comply with any other term,obligation,covenant or condition contained in this Deed of Trust,the Note or in any of the Related Documents. Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien. Environmental Default. Failure of any party to comply with or perform when due any term,obligation,covenant or condition contained in any environmental agreement executed in connection with the Property. Default in Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's obligations under this Deed of Trust or any of the DEED OF TRUST Loan No: 21969-1 (Continued) Page 5 Related Documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Deed of Trust or the Related Documents Is false or misleading in any material respect,either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Colletatallzation. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any collateral document to create a valid and perfected security interest or lien)at any time and for any reason. Death or Insolvency. The dissolution of Grantor's(regardless of whether election to continue is made), any member withdraws from the limited liability company, or any other termination of Grantor's existence as a going business or the death of any member, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or Insolvency laws by or against Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings,whether by judicial proceeding,self-help, repossession or any other method, by any creditor of Grantor or by any governmental agency against any property securing the Indebtedness. This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion,as being an adequate reserve or bond for the dispute. Breach of Other Agreement Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Grantor to Lender,whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes incompetent,or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender in good faith believes itself insecure. Right to Cure. If any default,other than a default in payment,is curable and tf Grantor has not been given a notice of a breach of the same provision of this Deed of Trust within the preceding twelve (12)months, it may be cured if Grantor, after Lender sends written notice to Grantor demanding cure of such default: (1) cures the default within twelve (12) days; or (2) if the cure requires more than twelve (12)days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,Trustee or Lender may exercise any one or more of the following rights and remedies: Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy,and an election to make expenditures or to take action to perform an obligation of Grantor under this Deed of Trust,after Grantor's failure to perform,shall not affect Lender's right to declare a default and exercise its remedies. Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable,including any prepayment penalty which Grantor would be required to pay. Foreclosure. With respect to all or any part of the Real Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law. If this Deed of Trust is foreclosed by judicial foreclosure, Lender will be entitled to a judgment which will provide that if the foreclosure sale proceeds are insufficient to satisfy the judgment,execution may issue for the amount of the unpaid balance of the judgment. UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Code. Collect Rents. Lender shall have the right, without notice to Grantor to take possession of and manage the Properly and collect the Rents, including amounts past due and unpaid,and apply the net proceeds,over and above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent,or through a receiver. Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property,with the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds,over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property Is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of DEED OF TRUST Loan No: 21969-1 (Continued) Page 6 Lender or the purchaser of the Property and shall,at Lender's option,either (1) pay a reasonable rental Tor the use of the Property,or (2) vacate the Property immediately upon the demand of Lender. Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or available at law or in equity. Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at least fifteen (15) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with any sale of the Real Property. Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all rights to have the Property marshalled. In exercising its rights and remedies,the Trustee or Lender shall be free to sell all or any part of the Property together or separately,in one sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property. Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation,however subject to any limits under applicable law, Lender's attorneys'fees and Lender's legal expenses, whether or not there is a lawsuit, including attorneys'fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports),surveyors'reports, and appraisal fees,title insurance,and fees for the Trustee,to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law. Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section. POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this Deed of Trust: Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,Trustee shall have the power to take the following actions with respect to the Property upon the written request of Lender and Grantor: (a)join in preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the public; (b)join in granting any easement or creating any restriction on the Real Property; and (c)join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust. Obligations to Notify. Trustee shall not be obligated to notify any other party of a pending sale under any other trust deed or lien, or of any action or proceeding in which Grantor, Lender, or Trustee shall be a party, unless the action or proceeding is brought by Trustee. Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth above,with respect to all or any part of the Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shall have the right to foreclose by judicial foreclosure,in either case in accordance with and to the full extent provided by applicable law. Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of Washington County, State of Oregon. The instrument shall contain,in addition to all other matters required by state law,the names of the original Lender, Trustee, and Grantor, the book and page where this Deed of Trust Is recorded, and the name and address of the successor trustee, and the instrument shall be executed and acknowledged by Lender or its successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power,and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern to the exclusion of all other provisions for substitution. NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of • • sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law),when deposited with a nationally recognized overnight courier,or, if mailed,when deposited in the United States mail,as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address,as shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties,specifying that the purpose of the notice is to change the parry's address. For notice purposes,Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there Is more than one Grantor,any notice given by Lender to any Grantor Is deemed to be notice given to all Grantors. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust: Amendments. This Deed of Trust, together with any Related Documents,constitutes the entire understanding and agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given In writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Annual Reports. If the Property Is used for purposes other than Grantor's residence,Grantor shall furnish to Lender,upon request,a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Property. Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust. DEED OF TRUST Loan No: 21969-1 (Continued) Page 7 Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent of Lender. Choice of Venue. If there is a lawsuit,Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Washington County,State of Oregon. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender In exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust,the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal,invalid,or unenforceable as to any circumstance,that finding shall not make the offending provision illegal,invalid,or unenforceable as to any other circumstance, If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest,this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the essence In the performance of this Deed of Trust. Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial In any action,proceeding,or counterclaim brought by any party against any other party. Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Oregon as to all Indebtedness secured by this Deed of Trust. Commercial Deed of Trust. Grantor agrees with Lender that this Deed of Trust is a commercial deed of trust and that Grantor will not change the use of the Property without Lender's prior written consent. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code: Beneficiary. The word"Beneficiary"means Craft3, and its successors and assigns. Borrower. The word "Borrower" means MRC RE LLC and includes all co-signers and co-makers signing the Note and all their successors and assigns. Deed of Trust. The words "Deed of Trust' mean this Deed of Trust among Grantor, Lender, and Trustee, and includes without limitation all assignment and security interest provisions relating to the Personal Property and Rents. Default. The word"Default"means the Default set forth in this Deed of Trust in the section titled"Default". Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default section of this Deed of Trust. Grantor. The word"Grantor means MRC RE LLC. Guarantor. The word"Guarantor"means any guarantor,surety,or accommodation party of any or all of the Indebtedness. Guaranty. The word"Guaranty"means the guaranty from Guarantor to Lender,including without limitation a guaranty of all or part of the Note. Improvements. The word"Improvements"means all existing and future improvements,buildings,structures,mobile homes affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property. Indebtedness. The word"Indebtedness"means all principal,interest,and other amounts,costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Trustee or Lender to enforce Grantor's obligations under this Deed of Trust,together with interest on such amounts as provided in this Deed of Trust. Lender. The word"Lender"means Craft3, its successors and assigns. Note. The word "Note" means the promissory note dated August 10, 2020, In the original principal amount of $1,155,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of,and substitutions for the promissory note or agreement. The maturity date of the Note is December 1,2021. Personal Property. The words 'Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property;together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (Including without DEED OF TRUST Loan No: 21969-1 (Continued) Page 8 limitation all insurance proceeds and refunds of premiums)from any sale or other disposition of the Property. However, should the Real Property be located in an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area,Personal Property is limited to only those items specifically covered(currently or hereafter)by Coverage A of the standard flood insurance policy issued in accordance with the National Flood Insurance Program or under equivalent coverage similarly issued by a private insurer to satisfy the National Flood Insurance Act(as amended). Properly. The word Property"means collectively the Real Property and the Personal Property. Real Property. The words"Real Property'mean the real property,interests and rights,as further described in this Deed of Trust. Related Documents. The words"Related Documents"mean all promissory notes, credit agreements,loan agreements,environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents,whether now or hereafter existing,executed in connection with the Indebtedness. Rents. The word"Rents"means all present and future rents, revenues, income, issues, royalties,profits, and other benefits derived from the Property. Trustee. The word"Trustee"means WFG National Title Insurance Company,whose address is 25 NW 23rd Place Suite 1, Portland, OR 97210 and any substitute or successor trustees. GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST,AND GRANTOR AGREES TO ITS TERMS. GRANTOR: MRC �� OFFICIAL STAMP R . TREVOR GARRETT CHEYNE he V.Tho n,Jr.,Manager of MRC RE LLC J' NOTARY PUBLIC-OREGON , � COMMISSION NO.967534 MY COMMISSION EXPIRES OCTOBER 15,2021 LIMITED LIABILITY COMPANY ACKNOWI Fnrh__"___Ftir s. OFFICIAL STAMP C�� ti TREVOR GARRETT CHEYNE STATE OF ) ,;, ! 1 NOTARY PUBLIC-0RE3ON /yam )SS COMMISSION NO 961.534 COUNTY OF � f IWO" MYCOMMi5SI0NE)IPrRESOC 09FF?5.' /12 /� On this l day of F-' `" /(/- , 20 , before me, the undersigned Notary Public, personally appeared John Y.Thornton,Jr.,Manager of MRC RE L C,and known to me to be a member or designated agent of the limited liability company that executed the Deed of Trust and acknowledged the Deed of Trust to be the free and voluntary act and deed of the limited liability company, by authority of statute, its articles of organization or its operating agreement, for the uses and purposes therein mentioned,and on oath stated that he or she-s authorized to execute this Deed of Trust and In fact executed the Deed of Trust on behalf of the limited li ompany. j By Residing at/744'14-..-CV/j az Notary c In an r the Slate of `V My commission expires 76 150( REQUEST FOR FULL RECONVEYANCE (To be used only when obligations have been paid in full) To: ,Trustee The undersigned is the legal owner and holder of all Indebtedness secured by this Deed of Trust. All sums secured by this Deed of Trust have been fully paid and satisfied. You are hereby directed,upon payment to you of any sums owing to you under the terms of this Deed of Trust or pursuant to any applicable statute, to cancel the Note secured by this Deed of Trust(which is delivered to you together with this Deed of Trust), and to reconvey,without warranty,to the parties designated by the terms of this Deed of Trust,the estate now held by you under this Deed of Trust. Please mail the reconveyance and Related Documents to: Date:_ Beneficiary: By: Its: DEED OF TRUST Loan No: 21969-1 (Continued) Page 9 LaserPro, Ver. 19.2.0.042 Copr. Finastra USA Corporation 1997, 2020. All Rights Reserved. - OR CAAistrib\CFI\LPL\G01.FC TR-10066 PR-98 EXHIBIT"A" LEGAL DESCRIPTION PARCEL I: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of Tigard, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, being more particularly described as follows,to-wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod and the true place of beginning; thence leaving said Westerly line, South 89°11'10" East, 96.00 feet to a 5/8 inch iron rod; thence North 0°48'50" East, 53.25 feet to a 5/8 inch iron rod;thence South 88°31'10" East, 81.22 feet to a 5/8 inch iron rod; thence North 1°21'10"West, 88.47 feet to a 5/8 inch iron rod in the Southwesterly right of way line of the Beaverton-Tigard Highway; thence Northwesterly along said Southwesterly right of way line on a spiral curve left, 308.75 feet, more or less, (chord bears North 31°15'39"West 308.59 feet)to the intersection of the Westerly line of said Lot 3, VARNS ACRES; thence leaving said Southwesterly right of way line South 2°14'20" West along said Westerly line of Lot 3, VARNS ACRES, 88.78 feet to a Oregon State Highway right of way monument; thence continuing South 2°14'20" West, 313.54 feet to the true place of beginning. EXCEPTING THEREFROM that portion taken by the State of Oregon, by and through is Department of Transportation by Case No. C990489CV, dated May 3, 2000, State Circuit Court, Washington County, a copy of which recorded May 18, 2005, as Recording No. 2005-055513, Records of Washington County. PARCEL II: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, created pursuant to property line adjustment in City of Tigard Planning File No. LLA2013-00003, dated October 24, 2013, survey of which was filed February 18, 2014 as Public Survey No. 32163 in the Washington County Surveyors Office, and being more particularly described as follows: Commencing at a 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon; thence South 89°11'10" East, along the Southerly boundary of said Lot 3, a distance of 138.00 feet to a 5/8 inch x 30 inch iron rod; thence continuing South 89°11'10" East, 192.00 feet to the Southwest corner of Lot 4, VARNS ACRES; thence continuing South 89°11'10" East, along the South line of said Lot 4, to the Southwesterly right-of-way line of the Beaverton- Tigard Highway (also Oregon State Highway 217); thence North 30°29'42" West, along the right-of-way line to the point of intersection of said Southwesterly right-of-way with the East line of said Lot 3; thence continuing North 30°29'42"West, along said Southwesterly right-of-way line 225.84 feet to a 3/4 inch iron rod at a point"spiral tangent"; thence Northwesterly along a spiral curve to the left 39°30'13"West, 39.14 feet to a 5/8 inch iron rod (long chord bears North 30°30'13"West 39.41 feet); thence leaving said spiral curve, South 1°21'10" East, 88.47 feet to a 5/8 inch iron rod; thence North 88°31'10" West, 12.00 feet to the true point of beginning, at a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors" ; thence North 88°31'10" West, 69.22 feet to a 5/8 inch iron rod; thence South 0°48'50" West, 53.25 feet to a 5/8 inch iron rod; thence South 89°11'10" East 36.00 feet to a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors"; thence North 33°9'42" East, 62.08 feet to the point of beginning. PARCEL III: A tract of land situated in Section 1, Township 2 South, Range 1 West, Willamette Meridian, Washington County, Oregon, being a part of Lot 3, VARNS ACRES, being more particularly described as follows, to- wit: Beginning at a % inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod; thence leaving said Westerly line South 89°11'10" East 138.00 feet to a railroad spike in a black top driveway; thence South 2°14'20" West parallel with the Westerly line of said Lot 3, VARNS ACRES, 187.00 feet to the Southerly line of said Lot 3; thence North 89°11'10" West along said Southerly line 138.00 feet to the place of beginning. TOGETHER WITH a perpetual non-exclusive easement for access, as described in document recorded October 27, 1983, as Recorder's Fee No. 83039764, over a 30 foot strip of land, the center line of which is described as follows: Beginning at a point in the centerline of said easement, which point is South 89°11' 10" East, 138.00 feet and North 55°54'10" West, 60.70 feet from a 3/4 inch iron rod at the Southwest corner of Lot 3, VARNS ACRES, from said place of beginning thence along the centerline of said easement (15.00 feet on each side of the following courses and distances) North 24°42'50" East, 103.00 feet; North 2°07'50" East, 47.00 feet; North 35°44'50" East, 72.00 feet; North 4°38'40"West, 91.00 feet; North 33°29'10"West, 264.67 feet to the terminus of said easement; said terminus bears North 2°14'20" East, 542.64 feet from said 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES. Washington County,Oregon 2020-078438 D-M 8S1n=16 M LOPEZ 08/19/2020 12:37:03 PM S55.00 S11.00$5.00$60.00 $131.00 Margaret Garza,Director of Assessment and Taxation and Ex- DOfficio County Clerk for Washington County,Oregon,do hereby certify that the within instrument of writing was received and recorded in the book of records of said county. Margaret Garza, Director of Assessment WHEN RECORDED MAIL TO: and Taxation,Ex-Officio County Clerk Craft3 1a i 42 7th Street,Suite 100 Astoria, OR 97103 a FOR RECORDER'S USE ONLY A CRAFT DEED OF TRUST THIS DEED OF TRUST is dated August 10, 2020, among MRC RE LLC, an Oregon limited liability, whose address Is 7000 SW Varns St, Tigard, OR 97223 ("Grantor"); Craft3, whose address Is 42 7th Street, Suite 100, Astoria, OR 97103 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and WFG National Title Insurance Company, whose address is 25 NW 23rd Place Suite 1, Portland, OR 97210 (referred to below as "Trustee"). CONVEYANCE AND GRANT. For valuable consideration, represented in the Note dated August 10, 2020, in the original principal amount of$195,000.00,from Borrower to Lender, Grantor conveys to Trustee for the benefit of Lender as Beneficiary all of Grantor's right,title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances: all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals,oil,gas,geothermal and similar matters,(the "Real Property") located In Multnomah County, State of Oregon: See Exhibit A, which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully set forth herein. The Real Property or its address is commonly known as 6980 and 6996-7000 SW Varns St, Tigard, OR 97223. The Real Property tax identification number is R458882, R458891 and R458908. Grantor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Grantor's right,title, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: (a) this Deed of Trust is executed at Borrower's request and not at the request of Lender; (b) Grantor has the lull power, right, and authority to enter into this Deed of Trust and to hypothecate the Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument binding upon Grantor and do not result in a violation of any law, regulation, court decree or order applicable to Grantor; (d) Grantor has established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to Grantor about Borrower(including without limitation the creditworthiness of Borrower). GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action"or"anti-deficiency"law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or atter Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale. PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by this Deed of Trust as It becomes due, and Borrower and Grantor shall perform all their respective obligations under the Note, this Deed of Trust,and the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Grantor agree that Borrower's and Grantor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2) use, operate or manage the Property;and (3) collect the Rents from the Property. The following provisions relate to the use of DEED OF TRUST Loan No: 22393 (Continued) Page 2 the Property or to other limitations on the Property. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11,CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7,CHAPTER 8,OREGON LAWS 2010.THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855,OREGON LAWS 2009, AND SECTIONS 2 TO 7,CHAPTER 8,OREGON LAWS 2010. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Nuisance,Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit,or suffer any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoing,Grantor will not remove,or grant to any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent. Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written consent. As a condition to the removal of any Improvements,Lender may require Grantor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal value. Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of Trust. Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in effect,of all governmental authorities applicable to the use or occupancy of the Property, Including without limitation,the Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance,or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond,reasonably satisfactory to Lender,to protect Lender's interest. Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property. DUE ON SALE-CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer,without Lender's prior written consent,of all or any part of the Real Property,or any interest in the Real Property. A"sale or transfer"means the conveyance of Real Property or any right,title or interest in the Real Property;whether legal, beneficial or equitable;whether voluntary or involuntary;whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold Interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property,or by any other method of conveyance of an interest in the Real Property. It any Grantor is a corporation,partnership or limited liability company,transfer also includes any restructuring of the legal entity (whether by merger, division or otherwise) or any change in ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such Grantor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by Oregon law. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust: Payment. Grantor shall pay when due (and in all events prior to delinquency)all taxes, special taxes, assessments,charges(including water and sewer),fines and impositions levied against or on account of the Property,and shall pay when due all claims for work done on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due,except for the Existing Indebtedness referred to below,and except as otherwise provided in this Deed of Trust. Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to pay,so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen(15) days after Grantor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys'fees, or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the Properly. Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work,services,or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay the cost of such improvements. DEED OF TRUST Loan No: 22393 (Continued) Page 3 PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any coinsurance clause,and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard,business interruption,and boiler Insurance,as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Grantor, upon request of Lender,will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least thirty (30) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person. Should the Real Property be located In an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain flood insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,up to the maximum policy limits set under the National Flood Insurance Program,or as otherwise required by Lender,and to maintain such insurance for the term of the loan.Flood insurance may be purchased under the National Flood Insurance Program, from private insurers providing "private flood insurance" as defined by applicable federal flood Insurance statutes and regulations,or from another flood insurance provider that is both acceptable to Lender in its sole discretion and permitted by applicable federal flood insurance statutes and regulations. Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Grantor fails to do so within fifteen(15)days of the casualty. Whether or not Lender's security is impaired,Lender may,at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property,or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall,upon satisfactory proof of such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear. Compliance with Existing Indebtedness. During the period in which any Existing Indebtedness described below is in effect,compliance with the insurance provisions contained In the instrument evidencing such Existing Indebtedness shall constitute compliance with the insurance provisions under this Deed of Trust, to the extent compliance with the terms of this Deed of Trust would constitute a duplication of insurance requirement. If any proceeds from the Insurance become payable on loss,the provisions in this Deed of Trust for division of proceeds shall apply only to that portion of the proceeds not payable to the holder of the Existing Indebtedness. Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such property,and the manner of determining that value; and (5) the expiration date of the policy. Grantor shall, upon request of Lender, have an Independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Grantor's failure to comply with any obligation to maintain Existing Indebtedness In good standing as required below, or to discharge or pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's behalf may(but shall not be obligated to)take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes,liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures Incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY;DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: Title. Grantor warrants that: (a)Grantor holds good and marketable title of record to the Property in fee simple,free and clear of all liens and encumbrances other than those set forth in the Real Property description or in the Existing Indebtedness section below or in any title insurance policy,title report, or final title opinion Issued In favor of, and accepted by, Lender in connection with this Deed of Trust,and (b)Grantor has the full right,power,and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the Interest of Trustee or Lender under this Deed of Trust, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in such proceeding,but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender Such instruments as Lender may request from time to time to permit such participation. Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities. DEED OF TRUST Loan No: 22393 (Continued) Page 4 Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain In full force and effect until such time as Borrower's Indebtedness shall be paid in full. EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust: Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Grantor expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any default on such indebtedness, any default under the instruments evidencing such indebtedness,or any default under any security documents for such indebtedness. No Modification. Grantor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security agreement which has priority over this Deed of Trust by which that agreement is modified, amended,extended, or renewed without the prior written consent of Lender. Grantor shall neither request nor accept any future advances under any such security agreement without the prior written consent of Lender. CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding,but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Properly is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs,expenses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,fees and charges are a part of this Deed of Trust: Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents In addition to this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for all taxes,as described below,together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes,fees,documentary stamps, and other charges for recording or registering this Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Borrower which Borrower is authorized or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Borrower. Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of Its available remedies for an Event of Default as provided below unless Grantor either (1) pays the lax before it becomes delinquent,or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT;FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures,and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender,Grantor shall take whatever action is requested by Lender to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any time and without further authorization from Grantor,file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default,Grantor shall not remove,sever or detach the Personal Property from the Property. Upon default,Grantor shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it available to Lender within three(3)days atter receipt of written demand from Lender to the extent permitted by applicable law. Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest granted by this Deed of Trust may be obtained(each as required by the Uniform Commercial Code)are as stated on the first page of this Deed of Trust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attomey-in-fact are a part of this Deed of Trust: Further Assurances. At any time,and from time to time,upon request of Lender,Grantor will make,execute and deliver,or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, ref iled,or rerecorded, as the case may be,at such times and in such offices and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate,complete,perfect,continue,or preserve (1) Borrower's and Grantor's obligations under the Note,this Deed of Trust,and the Related Documents,and (2) the liens and security interests created by this Deed of Trust on the Property,whether now owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender DEED OF TRUST Loan No: 22393 (Continued) Page 5 for all costs and expenses Incurred in connection with the matters referred to in this paragraph. Attorney-in-Fact If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of Grantor and at Grantor's expense. For such purposes,Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the purpose of making,executing,delivering,filing,recording,and doing all other things as may be necessary or desirable, in Lender's sole opinion,to accomplish the matters referred to in the preceding paragraph. FULL PERFORMANCE. If Borrower and Grantor pay all the Indebtedness when due, and Grantor otherwise performs all the obligations imposed upon Grantor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Grantor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Grantor, if permitted by applicable law. EVENTS OF DEFAULT. Each of the following, at Lender's option,shall constitute an Event of Default under this Deed of Trust: Payment Default. Borrower tails to make any payment when due under the Indebtedness. Other Defaults. Borrower or Grantor tails to comply with or to perform any other term,obligation, covenant or condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Grantor. Compliance Default. Failure to comply with any other term,obligation,covenant or condition contained in this Deed cif Trust,the Note or in any of the Related Documents. Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance,or any other payment necessary to prevent filing of or to effect discharge of any lien. Environmental Default. Failure of any party to comply with or perform when due any term,obligation, covenant or condition contained in any environmental agreement executed in connection with the Property. Default in Favor of Third Parties. Should Borrower or any Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's or any Grantor's property or Borrower's ability to repay the Indebtedness or Borrower's or Grantor's ability to perform their respective obligations under this Deed of Trust or any of the Related Documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Grantor or on Borrower's or Grantor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter. Defective Collaterallzation. This Deed of Trust or any of the Related Documents ceases to be in full force and effect(including failure of any collateral document to create a valid and perfected security interest or lien)at any time and for any reason. • Death or Insolvency. The dissolution or termination of Borrower's or Grantor's existence as a going business, the insolvency of Borrower or Grantor, the appointment of a receiver for any part of Borrower's or Grantor's property,any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding,self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any property securing the Indebtedness. This includes a garnishment of any of Borrower's or Grantor's accounts,including deposit accounts,with Lender. However, this Event of Default shall not apply If there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding,In an amount determined by Lender,in its sole discretion,as being an adequate reserve or bond for the dispute. Breach of Other Agreement. Any breach by Borrower or Grantor under the terms of any other agreement between Borrower or Grantor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Borrower or Grantor to Lender,whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes incompetent,or revokes or disputes the validity of,or liability under,any Guaranty of the Indebtedness. Adverse Change. A material adverse change occurs in Borrower's or Grantor's financial condition,or Lender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender in good faith believes itself insecure. Existing Indebtedness. The payment of any installment of principal or any interest on the Existing Indebtedness is not made within the time required by the promissory note evidencing such indebtedness, or a default occurs under the instrument securing such indebtedness and is not cured during any applicable grace period In such instrument, or any suit or other action is commenced to foreclose any existing lien on the Properly. Right to Cure. If any default,other than a default in payment,is curable and if Grantor has not been given a notice of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Grantor, after Lender sends written notice to Borrower demanding cure of such default: (1) cures the default within twelve(12) days;or (2) if the cure requires more than twelve (12)days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter,Trustee or Lender may exercise any one or more of the following rights and remedies: DEED OF TRUST Loan No: 22393 (Continued) Page 6 Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy,and an election to make expenditures or to take action to perform an obligation of Grantor under this Deed of Trust,after Grantor's failure to perform,shall not affect Lender's right to declare a default and exercise its remedies. Accelerate Indebtedness. Lender shall have the right at its option without notice to Borrower or Grantor to declare the entire Indebtedness immediately due and payable,including any prepayment penalty which Borrower would be required to pay. Foreclosure. With respect to all or any part of the Real Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law. If this Deed of Trust is foreclosed by judicial foreclosure,Lender will be entitled to a judgment which will provide that if the foreclosure sale proceeds are insufficient to satisfy the judgment,execution may issue for the amount of the unpaid balance of the judgment. UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Code. Collect Rents. Lender shall have the right, without notice to Borrower or Grantor to take possession of and manage the Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person,by agent,or through a receiver. Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property,with the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds,over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. Tenancy at Sufferance. If Grantor remains in possession of the Property atter the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Borrower or Grantor, Grantor shall become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property,or (2) vacate the Property immediately upon the demand of Lender. Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or available at law or in equity. Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at least fifteen(15) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with any sale of the Real Property. Sale of the Property. To the extent permitted by applicable law, Borrower and Grantor hereby waives any and all rights to have the Property marshalled. In exercising its rights and remedies, the Trustee or Lender shall be free to sell all or any part of the Property together or separately, in one sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property. Attorneys'Fees; Expenses. II Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses Covered by this paragraph include,without limitation, however subject to any limits under applicable law, Lender's attorneys'fees and Lender's legal expenses, whether or not there is a lawsuit, including attorneys'fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports(including foreclosure reports),surveyors'reports, and appraisal fees,title insurance,and fees for the Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law. Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section. POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this Deed of Trust: Powers of Trustee. In addition to all powers of Trustee arising as a matter of law,Trustee shall have the power to take the following actions with respect to the Property upon the written request of Lender and Grantor: (a)join in preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the public; (b)join in granting any easement or creating any restriction on the Real Property; and (c)join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust. Obligations to Notify. Trustee shall not be obligated to notify any other party of a pending sale under any other trust deed or lien, or of any action or proceeding in which Grantor, Lender, or Trustee shall be a party, unless the action or proceeding is brought by Trustee. Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set DEED OF TRUST Loan No: 22393 (Continued) Page 7 forth above,with respect to all or any part of the Property,the Trustee shall have the right to foreclose by notice and sale,and Lender shall have the right to foreclose by judicial foreclosure,in either case in accordance with and to the full extent provided by applicable law. Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under this Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of Multnomah County,State of Oregon. The instrument shall contain,in addition to all other matters required by state law,the names of the original Lender, Trustee,and Grantor,the book and page where this Deed of Trust is recorded,and the name and address of the successor trustee, and the instrument shall be executed and acknowledged by Lender or its successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power,and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern to the exclusion of all other provisions for substitution. NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law),when deposited with a nationally recognized overnight courier,or,If mailed, when deposited in the United States mail,as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address,as shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties,specifying that the purpose of the notice is to change the party's address. For notice purposes,Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor,any notice given by Lender to any Grantor is deemed to be notice given to all Grantors. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust: Amendments. This Deed of Trust,together with any Related Documents,constitutes the entire understanding and agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Annual Reports. If the Property Is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request,a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require. 'Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Property. Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust. Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity,without the written consent of Lender. Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Washington County,State of Oregon. Joint and Several Liability. All obligations of Borrower and Grantor under this Deed of Trust shall be joint and several, and all references to Grantor shall mean each and every Grantor, and all references to Borrower shall mean each and every Borrower. This means that each Grantor signing below is responsible for all obligations in this Deed of Trust. Where any one or more of the parties is a corporation,partnership,limited liability company or similar entity,it is not necessary for Lender to inquire into the powers of any of the officers,directors, partners,members,or other agents acting or purporting to act on the entity's behalf,and any obligations made or created in reliance upon the professed exercise of such powers shall be guaranteed under this Deed of Trust. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust,the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal,invalid,or unenforceable as to any circumstance,that finding shall not make the offending provision illegal,invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality,validity or enforceability of any other provision of this Deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest,this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Deed of Trust. Waive Jury. All parties to this Deed of Trust hereby waive the right to any Jury trial In any action,proceeding,or counterclaim brought by any party against any other party. Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of Oregon as to all Indebtedness secured by this Deed of Trust. DEED OF TRUST Loan No: 22393 (Continued) Page 8 Commercial Deed of Trust. Grantor agrees with Lender that this Deed of Trust is a commercial deed of trust and that Grantor will not change the use of the Property without Lender's prior written consent. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural,and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code: Beneficiary. The word"Beneficiary"means Craft3,and its successors and assigns. Borrower. The word"Borrower"means Madrona Recovery Center Inc.and includes all co-signers and co-makers signing the Note and all their successors and assigns. Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Grantor, Lender, and Trustee, and includes without limitation all assignment and security interest provisions relating to the Personal Property and Rents. Default. The word"Default"means the Default set forth in this Deed of Trust in the section titled"Default". Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default section of this Deed of Trust. Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing Liens provision of this Deed of Trust. Grantor. The word"Grantor"means MRC RE LLC. Guarantor. The word"Guarantor"means arty guarantor,surety,or accommodation party of any or all of the Indebtedness. Guaranty. The word"Guaranty"means the guaranty from Guarantor to Lender,including without limitation a guaranty of all or part of the Note. Improvements. The word"Improvements"means all existing and future improvements,buildings,structures,mobile homes affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property. Indebtedness. The word"Indebtedness"means all principal,interest,and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Trustee or Lender to enforce Grantor's obligations under this Deed of Trust,together with interest on such amounts as provided in this Deed of Trust. Lender. The word"Lender"means Craft3,its successors and assigns. Note. The word "Note" means the promissory note dated August 10, 2020, in the original principal amount of $195,000.00 from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of,and substitutions for the promissory note or agreement. The maturity date of the Note is September 1,2027. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property;together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums)from any sale or other disposition of the Property. However, should the Real Property be located in an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area,Personal Property is limited to only those items specifically covered(currently or hereafter)by Coverage A of the standard flood insurance policy issued in accordance with the National Flood Insurance Program or under equivalent coverage similarly issued by a private insurer to satisfy the National Flood Insurance Act(as amended). Property. The word"Property"means collectively the Real Property and the Personal Property. Real Property. The words"Real Property"mean the real property,interests and rights,as further described in this Deed of Trust. Related Documents. The words"Related Documents"mean all promissory notes, credit agreements,loan agreements,environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents,whether now or hereafter existing,executed In connection with the Indebtedness. Rents. The word "Rents"means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property. Trustee. The word "Trustee"means WFG National Title Insurance Company, whose address is 25 NW 23rd Place Suite 1, Penland, OR 97210 and any substitute or successor trustees. GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST,AND GRANTOR AGREES TO ITS TERMS. GRANTOR: MRC L ohn Y.Thor on,Jr.,Manager of MRC RE LLC DEED OF TRUST Loan No: 22393 (Continued) Page 9 LIMITED LIABILITY COMPANY ACKNOWLEDGMENT OFFICIAL STAMP STATE OF V( fi*. TREVOR GARRETT CHEYNE �// NOTARY PUBLIC-OREGON .967534 COUNTY OF SS / �� ` 1/( ) `I 1 MY COMMISSION ON EXPIRESMISSION OCTD ER 15,2021 On this t day of " 1 , 20 , before me, the undersigned Notary Public, personally appeared John Y.Thornton,Jr.,Manager of MRC RE LLC,and known to me to be a member or designated agent of the limited liability company that executed the Deed of Trust and acknowledged the Deed of Trust to be the free and voluntary act and deed of the limited liability company, by authority of statute, Its articles of organization or its operating agreement,for the uses and purposes therein mentioned,and on o d that he she is authorize to execute this Deed of Trust and in fact executed the Deed of Trust on behalf of the limited li C pany. By "Rbarteng-et /e're'lCe-41 Notary P n fo State of I r - My commission expires /W/ 7 J 1/ REQUEST FOR FULL RECONVEYANCE (To be used only when obligations have been paid in full) To: __._._.. ,Trustee The undersigned Is the legal owner and holder of all Indebtedness secured by this Deed of Trust. All sums secured by this Deed of Trust have been fully paid and satisfied. You are hereby directed,upon payment to you of any sums owing to you under the terms of this Deed of Trust or pursuant to any applicable statute, to cancel the Note secured by this Deed of Trust(which is delivered to you together with this Deed of Trust), and to reconvey,without warranty,to the parties designated by the terms of this Deed of Trust,the estate now held by you under this Deed of Trust. Please mall the reconveyance and Related Documents to: Date: Beneficiary: By: Its: t nenrPro, Ver. 19.2.0.042 Copr. Finastra USA Corporation 1987, 2020. All Rights Reserved. - OR C:'Distrib\CFILPL\GO1.FC TR-10037 PR-98 EXHIBIT "A" LEGAL DESCRIPTION PARCEL I: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of Tigard, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, being more particularly described as follows, to-wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod and the true place of beginning; thence leaving said Westerly line, South 89°11'10" East, 96.00 feet to a 5/8 inch iron rod; thence North 0°48'50" East, 53.25 feet to a 5/8 inch iron rod; thence South 88°31'10" East, 81.22 feet to a 5/8 inch iron rod; thence North 1°21'10" West, 88.47 feet to a 5/8 inch iron rod in the Southwesterly right of way line of the Beaverton-Tigard Highway; thence Northwesterly along said Southwesterly right of way line on a spiral curve left, 308.75 feet, more or less, (chord bears North 31°15'39"West 308.59 feet)to the intersection of the Westerly line of said Lot 3, VARNS ACRES; thence leaving said Southwesterly right of way line South 2°14'20" West along said Westerly line of Lot 3, VARNS ACRES, 88.78 feet to a Oregon State Highway right of way monument; thence continuing South 2°14'20" West, 313.54 feet to the true place of beginning. EXCEPTING THEREFROM that portion taken by the State of Oregon, by and through is Department of Transportation by Case No. C990489CV, dated May 3, 2000, State Circuit Court, Washington County, a copy of which recorded May 18, 2005, as Recording No. 2005-055513, Records of Washington County. PARCEL II: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon, created pursuant to property line adjustment in City of Tigard Planning File No. LLA2013-00003, dated October 24, 2013, survey of which was filed February 18, 2014 as Public Survey No. 32163 in the Washington County Surveyors Office, and being more particularly described as follows: Commencing at a 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon; thence South 89°11'10" East, along the Southerly boundary of said Lot 3, a distance of 138.00 feet to a 5/8 inch x 30 inch iron rod; thence continuing South 89°11'10" East, 192.00 feet to the Southwest corner of Lot 4, VARNS ACRES; thence continuing South 89°11'10" East, along the South line of said Lot 4, to the Southwesterly right-of-way line of the Beaverton- Tigard Highway (also Oregon State Highway 217); thence North 30°29'42" West, along the right-of-way line to the point of intersection of said Southwesterly right-of-way with the East line of said Lot 3; thence continuing North 30°29'42" West, along said Southwesterly right-of-way line 225.84 feet to a 3/4 inch iron rod at a point "spiral tangent"; thence Northwesterly along a spiral curve to the left 39°30'13"West, 39.14 feet to a 5/8 inch iron rod (long chord bears North 30°30'13"West 39.41 feet); thence leaving said spiral curve, South 1°21'10" East, 88.47 feet to a 5/8 inch iron rod; thence North 88°31'10" West, 12.00 feet to the true point of beginning, at a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors" ; thence North 88°31'10" West, 69.22 feet to a 5/8 inch iron rod; thence South 0°48'50" West, 53.25 feet to a 5/8 inch iron rod; thence South 89°11'10" East 36.00 feet to a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors"; thence North 33°9'42" East, 62.08 feet to the point of beginning. PARCEL III: A tract of land situated in Section 1, Township 2 South, Range 1 West, Willamette Meridian, Washington County, Oregon, being a part of Lot 3, VARNS ACRES, being more particularly described as follows, to- wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod; thence leaving said Westerly line South 89°11'10" East 138.00 feet to a railroad spike in a black top driveway; thence South 2°14'20" West parallel with the Westerly line of said Lot 3, VARNS ACRES, 187.00 feet to the Southerly line of said Lot 3; thence North 89°11'10" West along said Southerly line 138.00 feet to the place of beginning. TOGETHER WITH a perpetual non-exclusive easement for access, as described in document recorded October 27, 1983, as Recorder's Fee No. 83039764, over a 30 foot strip of land, the center line of which is described as follows: Beginning at a point in the centerline of said easement, which point is South 89°11' 10" East, 138.00 feet and North 55°54'10" West, 60.70 feet from a 3/4 inch iron rod at the Southwest corner of Lot 3, VARNS ACRES, from said place of beginning thence along the centerline of said easement (15.00 feet on each side of the following courses and distances) North 24°42'50" East, 103.00 feet; North 2°07'50" East, 47.00 feet; North 35°44'50" East, 72.00 feet; North 4°38'40" West, 91.00 feet; North 33°29'10"West, 264.67 feet to the terminus of said easement; said terminus bears North 2°14'20" East, 542.64 feet from said 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES. Washington County,Oregon 2020-078369 AFTER RECORDING RETURN TO: O-OW 08/19/2020 11:50:46 AM MRC RE LLC Stn=16 V LOPEZ S20 00 S11 00$5,00$60.00$910.00 $1,006.00 7000 SW Yarns Street I,Margoret Garza,Director of Assessment and Taxation and Ex. Tigard, OR 97223 Olflco County Clerk br WaMngten County.Oregon,do hereby certify tlut the within instrument of writing was received and recorded In the book of records of laid county. SEND TAX STATEMENTS TO: Margaret Garza,Director of Assessment MRC RE LLC and Taxation,Ea-Oltcio County Clerk 7000 SW Yarns Street Tigard, OR 97223 APN: R0458891 6980 S.W.Yams Street.Tigard.OR 97223 SPACE ABOVE THIS LINE FOR RECORDER'S USE STATUTORY WARRANTY DEED Pacific Lumber Inspection Bureau, a Washington non-profit corporation, succssor by merger to West Coast Lumber Inspection Bureau,an Oregon non-profit corporation,Grantor,conveys and warrants to MRC RE LLC, an Oregon limited liability company, Grantee, the following described real property,free and dear of £ encumbrances except as specifically set forth below,situated in the County of Washington,State of Oregon: c' SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF THE TRUE AND ACTUAL CONSIDERATION FOR THIS CONVEYANCE IS NINE HUNDRED NINE THOUSAND cn o NINE HUNDRED THIRTY-THREE AND 33/100 DOLLARS($909,933.33). (See ORS 93.030). Subject to: N SEE EXHIBIT"B"ATTACHED HERETO AND MADE A PART HEREOF BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSONS RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, 0 CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING H THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND aBEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL,AS DEFINED IN ORS 92.010 OR LI 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON 5 LAWSUITS AGAINST FARMING OR FOREST PRACTICES,AS DEFINED IN ORS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS,IF ANY, UNDER ORS 195.300,195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11,CHAPTER 424,OREGON LAWS 2007,SECTIONS 2 TO 9 AND 17,CHAPTER 855,OREGON LAWS 2009,AND SECTIONS 2 TO 7,CHAPTER 8,OREGON LAWS 2010. Ned(statutory Wartanty) pew:1 OR CT-FNPT-0279647255W72519005916 ORD1293.duuI Updated: 04.26.19 STATUTORY WARRANTY DEED (continued) IN WITNESS WHEREOF, the undersigned have executed this document on the date(s)set forth below. Dated ,,SUrt. 15 2.O 2.4) ; if a corporate grantor, it has caused its name to be signed by order of its board of direciors. Pacific Lumber Inspection Bureau, a Washington non-profitpr� corporation BY: L y �. J r ant�zzi, P si nt CX� BY: Ha nah Petersen ecretary State of Washington County of This instrument was acknowledged before me on June I > , 2020 by Jeffrey Fantozzi as the President of Pacific Lumber Inspection Bureau. _.- A rasa"• ;t4�„,' a Notary Public-State of Washington k ft 01A `�►�'�s,�� 4/ My Commission Expires: I ,. -1 . I o r ( „1-‘,A;t + S r LeaV i i a • G O State of Washington 1OF`wI•STs.S' County of "') This instrument was acknowledged before me on June I , 2020 by Hannah Petersen as the Secretary of Pa ' lc Lumber Inspection Bureau. `,.‘•\"a1)11j1 • / �� OPNOtFsptf/I/ Notary Public-State of Washington =�° ,�'0T,4' 'a���^} , My Commission Expires: I'= �'( ) i u o r_ • _ as of. 0 As`�� t ,F O • // 111 1 OF wp, ,SNA Deed(Statutory Warranty) 0RD1293.doc I Updated: 04.26.19 Page 2 OR-CT-FNPT-02796 472550-472519005916 EXHIBIT "A" Legal Description A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of Tigard, County of Washington and State of Oregon, being a part of Lot 3 VARNS ACRES, being more particularly described as follows, to-wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod; thence leaving said Westerly line South 89°11'10" East 138.00 feet to a railroad spike in a black top driveway; thence South 2°14'20"West parallel with the Westerly line of Said Lot 3, VARNS ACRES, 187.00 feet to the Southerly line of said Lot 3; thence North 89°11'10"West along said Southerly line 138.00 feet to the place of beginning. TOGETHER WITH a non exclusive Easement and right of way for vehicular and pedestrian ingress and egress over and across the existing drive way located on the following described parcels: PARCEL I: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES: thence South 89°11'10" East along the Southerly boundary of said Lot 3, 138.00 feet to a 5/8 Inch x 30 Inch iron rod and the true place of beginning; thence continuing South 89°11'10" East 192.00 feet to the Southeast corner of said Lot 3, VARNS ACRES; thence North 2°17'50" East along the Easterly line of said Lot 3, 75.43 feet to the intersection of the Southwesterly right of way line of the Beaverton Tigard Highway; thence North 30°29'42"West along said Southwesterly right of way line 255.84 feet to a 3/4 inch iron rod at a point of"spiral tangent"; thence Northwesterly along a spiral curve to the left 39.41 feet to a 5/8 inch iron rod (long chord bears North 30°30'13"West 39.41 feet); thence leaving said spiral curve South 1°21'10" East 88.47 feet to a 5/8 inch iron rod; thence North 88°31'10"West 81.22 feet; thence South 0°48'50"West 53.25 feet to a 5/8 inch Iron rod; thence South 89°11'10" East 42.00 feet to a railroad spike in a blacktop drive;thence South 2°14'20"West parallel with the Westerly line of said Lot 3, VARNS ACRES, 187.00 feet to the true place of beginning. PARCEL II: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES: thence North 2°14'20" East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod and the true place of beginning;thence leaving said Westerly line South 89°11'10" East 96.00 feet to a 5/8 inch iron rod;thence North 0°48'50" East 53.25 feet to a 5/8 inch iron rod; thence South 88°31'10" East 81.22 feet to a 5/8 inch iron rod; thence North 1° 21' 10" West 88.47 feet to a 5/8 inch iron rod In the Southwesterly right of way line of the Beaverton Tigard Highway; thence Northwesterly along said Southwesterly right of way line on a spiral curve left 308.75 feet, more or less, (chord bears North 31°15'39" West 308.59 feet) to the intersection of the Westerly line of said Lot 3, VARNS ACRES: thence leaving said Southwesterly right of way line South 2°14'20"West along said Westerly line of Lot 3, VARNS ACRES, 88.78 feet to a Oregon State Highway right of way monument; thence continuing South 2°14'20" West 313.54 feet to the true place of beginning. Deed(Statutory Warranty) ORD1293-doc/Updated 04.26,19 Page 3 OR-CT-FNPT-02796.472550-472519005916 EXHIBIT "B" Exceptions Subject to: 1. Limited Access Provisions acquired by the State of Oregon, by and through its State Highway Commission in Condemnation suit filed in the Circuit Court of Washington County, Oregon,which, among other things, provides that no right or easement of right of access to, from or across the State Highway other than expressly therein provided for shall attach to the abutting property; Filing Date: May 20, 1966 Case No: 28-192 Affects: The Northeasterly portion of the Easement parcels 2. Maintenance Agreement for Easement Road, including the terms and provisions thereof; Executed by: Adjoining property owners Recording Date: December 27, 1977 Book: 1227, Page: 992 3. Easement for the purpose shown below and rights incidental thereto, as granted in a document: Granted to: Northwest Natural Gas Company Purpose: Gas pipeline and appurtenances Recording Date: March 13, 1981 Recording No.: 81-008797 Affects: A 10 foot wide strip through the Northwesterly portion 4. Mutual Access Easement Agreement, including the terms and provisions thereof; Executed by: Adjoining property owners Recording Date: October 27, 1983 Recording No.: 83-039764 5. Easement for the purpose shown below and rights incidental thereto, as granted in a document: Granted to: Northwest Natural Gas Company Purpose: Gas pipeline and appurtenances Recording Date: April 17, 2007 Recording No.: 2007-042776 Affects: Th North 10 feet of the East 88 feet 6. Easement for the purpose shown below and rights incidental thereto, as granted in a document: Granted to: Avenoa, LLC Purpose: Underground sewer line and appurtenances Recording Date: January 26, 2018 Recording No.: 2018-006639 Affects: The Northerly portion Deed(Statutory Warranty) 0RD1293.doc I Updated 04.26.19 Page 4 OR-CT-FNPT•02796.472550-472519005916 Washington County,Oregon 2020-078330 D-DW Stn=16 M LOPEZ 08/19/2020 11:14:04 AM File No.: 20-187265 $25.00$11.00$5.00$60.00$1,709.00 $1,810.00 I,Margaret Garza,Director of Assessment and Taxation and Ex- Grantor Officio County Clerk for Washington County,Oregon,do hereby Nelson Vial, LLC cardfy that the within instrument of writing was received and recorded in the book of records of said county. Grantee MRC RE LLC, Margaret Garza,Director of Assessment and Taxation,Ex-Officio County Clerk After recording return to MRC RE LLC 7000 SW Varns Street Portland,OR 97223 Until requested,all tax statements shall be sent to MRC RE LLC 7000 SW Varns Street Portland,OR 97223 TaxAcct No(s): 2S101DA01900 and 02100, R458882, R458908 Reserved for Recorders Use STATUTORY WARRANTY DEED Nelson Vial, LLC, an Oregon limited liability company, Grantor(s) convey and warrant to MRC RE LLC, an Oregon limited liability company, Grantee(s), the real property described in the attached Exhibit A, subject only to those liens and encumbrances set forth on the attached Exhibit B. The true consideration for this conveyance is $1,708,500.00. (Here comply with requirements of ORS 93.030) BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009,AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT,THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009 AND SECTIONS 2 TO 7,CHAPTER 8, OREGON LAWS 2010. Executed this } $ day of August,2020 Nelson Vial,LLC,an Oregon lirrjrteability company By: I Nan, A. Richard Vial Its: Managing Methber By: y ; Name:R n Its:Managing Member STATE OF OREGON COUNTY OF (,.1—)GkSv1 tXtq This Instrument was acknowledged before me this $ day of August,2020 by A.Richard Vial and Robert Nelson, as Managing Members, of Nelson Vial, LLC, an Oregon limited liability company, on behalf of the limited liability company. s OFFICIAL STAMP %'... SHARON K BAKER Print Na • ®� J NOTARY PUBLIC-OREGON Notary Public for Oregon COMMISSION NO.974356 �.ZoZ2 MY COMMISSION EXPIRES MAY 7,2922 My Commission Expires: S. EXHIBIT"A" LEGAL DESCRIPTION PARCEL I: A tract of land situated in Section 1, Township 2 South, Range 1 West of the Willamette Meridian, in the City of Tigard, being a part of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon,being more particularly described as follows,to-wit: Beginning at a 3/4 inch iron pipe at the Southwest corner of said Lot 3, VARNS ACRES; thence North 2°14'20"East along the Westerly line of said Lot 3, 187.00 feet to a 5/8 inch iron rod and the true place of beginning; thence leaving said Westerly line, South 89°11'10" East, 96.00 feet to a 5/8 inch,iron rod; thence North 0°48'50"East, 53.25 feet to a 5/8 inch iron rod;thence South 86°31'10".East, 81.22 feet to a 5/8 inch iron rod;thence North 1°21'10"West, 88.47 feet to a 5/8 Inch iron rod in the Southwesterly right of way line of the Beaverton-Tigard Highway;thence Northwesterly along said Southwesterly right of way line on a spiral curve left, 308.75 feet,more or less,(chord bears North 31°15'39"West 308.59 feet)to the intersection of the Westerly line of said Lot 3,VARNS ACRES;thence leaving said Southwesterly right of way line South 2°14'20"West along said Westerly line of Lot 3, VARNS ACRES, 88.78 feet to a Oregon State Highway right of way monument; thence continuing South 2°14'20" West, 313.54 feet to the true place of beginning. EXCEPTING THEREFROM that portion taken by the State of Oregon, by and through is Department of Transportation by Case No. C990489CV, dated May 3, 2000, State Circuit Court, Washington County, a copy of which recorded May 18,2005,as Recording No.2005-055513, Records of Washington County. PARCEL II: A tract of land situated In Section 1,Township 2 South,Range 1 West of the Willamette Meridian, being a part of Lot 3, VARNS ACRES, In the City of Tigard,County of Washington and State of Oregon, created pursuant to property line adjustment in City of Tigard Planning File No. LLA2013-00003, dated October 24, 2013, survey of which was tiled February 18, 2014 as Public Survey No. 32163 in the Washington County Surveyors Office,and being more particularly described as follows: Commencing at a 3/4 inch iron pipe at the Southwest corner of Lot 3, VARNS ACRES, in the City of Tigard, County of Washington and State of Oregon; thence South 89°11'10" East, along the Southerly boundary of said Lot 3,a distance of 138.00 feet to a 5/8 inch x 30 inch iron rod;thence continuing South 89°11'10" East, 192.00 feet to the Southwest corner of Lot 4, VARNS ACRES; thence continuing South 89°11'10"East, along the South line of said Lot 4,to the Southwesterly right-of-way line of the Beaverton- Tigard Highway(also Oregon State Highway 217); thence North 30°29'42"West, along the right-of-way line to the point of Intersection of said Southwesterly right-of-way with the East Ilne of said Lot 3;thence continuing North 30°29'42"West, along said Southwesterly right-of-way line 225.84 feet to a 3/4 Inch iron rod at a point"spiral tangent';thence Northwesterly along a spiral curve to the left 39°30'13"West, 39.14 feet to a 5/8 inch iron rod(long chord bears North 30°30'13"West 39.41 feet); thence leaving said spiral curve, South 1°21'10" East,88.47 feet to a 5/8 inch iron rod; thence North 88°31'10'West, 12.00 feet to the true point of beginning, at a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors" ;thence North 88°31'10"West, 69.22 feet to a 5/8 inch iron rod;thence South 0°48'50" West, 53.25 feet to a 5/8 inch iron rod; thence South 89°11'10" East 36.00 feet to a 5/8 inch by 30 inch iron rod with a yellow plastic cap stamped "Compass Land Surveyors";thence North 33°9'42"East,62.08 feet to the point of beginning. EXHIBIT "B" Exceptions 1. Access Restrictions,including the terms and provisions thereof in Condemnation Decree: Entered January 26, 1967 Case No. 28-192,Circuit Court,Washington County In Favor of State of Oregon, by and through its State Highway Commission. 2. Maintenance Agreement, including the terms and provisions thereof Regarding Maintenance of driveway easement Between Robert L. Bloodworth and William J.Peterson dba BP Development Company And West Coast Lumber Inspection Bureau Inc. Recorded December 27, 1977 Recording No. Book 1227, Page 992 3. Easement,including the terms and provisions thereof: For Vehicular and pedestrian ingress and egress across existing driveway Granted to West Coast Lumber Inspection Bureau, Inc.(adjacent property) Recorded December 28,1977 Recording No. Book 1228. Page 295 Affects Existing driveway as described in instrument 4. Easement,including the terms and provisions thereof For Vehicular and pedestrian ingress and egress over existing driveway Granted to Adjoining property owners Recorded December 12, 1978 Recording No. 78054140 Affects Existing driveway as described in instrument 5. Mutual Easement and Maintenance Agreement,including the terms and provisions thereof: Regarding Joint use of private access driveway and maintenance provisions Between Robert L. Bloodworth,William D.Peterson,Frank E. Ellis and Richard H.G. Eslick,a partnership dba BPEEP Development Company And West Coast Lumber Inspection Bureau, Inc.,an Oregon corporation And T.W.L.,a co-partnership consisting of Jay M.Woodworth Dorothy Towne, Donald K. Larsen and Janis M.Larsen Recorded October 27,1983 Recording No. 83039764 Affects Existing driveway as described in instrument 6. Access Restrictions,including the terms and provisions thereof in Condemnation Decree Entered : May 3,2000 Case No. C990489CV,Circuit Court,Washington County In Favor of State of Oregon,by and through its Department of Transportation And Recorded May 18,2005 Recording No. 2005-055513, Records of Washington County (Affects Parcel I) 7. Easement, including the terms and provisions thereof in Condemnation Decree: Entered May 3,2000 Case No. C990489CV,Circuit Court,Washington County In Favor of State of Oregon,by and through its Department of Transportation For Subsurface retaining wall supports and water,gas, electric, and communications service lines,fixtures and facilities And Recorded May 18,2005 Recording No. 2005-055513, Records of Washington County Affects Portion of the premises adjacent to highway 8. Easement, Including the terms and provisions thereof: For Construction and maintaining drainage facilities Granted to State of Oregon,by and through its Department of Transportation Recorded October 11,2000 Recording No. 2000082781 Affects Portion of the premises adjacent to highway 9. Easement, including the terms and provisions thereof: For Water line Granted to City of Tigard,a municipal corporation of Washington County,Oregon Recorded May 26,2006 Recording No. 2006-063120 Affects See instrument for location map-Parcel I 10. Tree Restrictive Covenant Deed Restriction,Including the terms and provisions thereof: Imposed by : City of Tigard Recorded October 19,2007 Recording No. 2007-111488 (Affects Parcel I) 11. 2020-2021 taxes,a lien not yet due and payable. . i 9 5 . I • jiriP � NY./. w:oS EmWmYon„AealE�.m.SmW.K.5.YruroDasNetASpco.orl,reL oo,.a.. 5 •»5:1 Ar.3nen''' \ AWSYA ll\IaW\ %%/ / 111\ '' I RBES70 BE 5E0000 IN M wMnewwa w4ua Nn EOM w.n.00W„ gC0O ARC . °'"'" D i / y HIGHWAY OR n \ 3 N68UROING 0 \ SITE PLAN KEYNOTES Op 06 11 OCATIOATIO N APPROXIMATE) \�ltod ^// \`�/ I ,00 OOP.... mnuA. ��j ^,A r // S...arouure.o-.ccmo.o5m5am5muc,xaax e. / \�.I 1 ;. /i p• .a er.s.LL..o.woe A.fetSWle orEx�N a,, o ® j 0/ ,1„16, ,,/ o STO Lo„oAmur MMampEELAEm.ETSLLa,.nc,. / /"/j"1.A ` j \��\In,�ll/, O s,moan«e5vau awTE,ow.wn O _ / \\\\ �'�/ p� a.SA aa<,A.,0E.e»<E-.,e.oOE /W, EXISTING BUILDING % " __—__ __�__ __�_ ___ L '/_ O U w� (LOCATION APPROANA .\,1 /// _ _ Euess urt E. L�L �?7 / I 0 /" I I„ �� = \ OS ew...."e... INnrowuw.r.'I.W. .©..E® I ---— e 1"1"‘"\ 0, / .....,/, \ Z g i ]$TORT BUILDINGty / /� N T PE VA CO G W RAM D L 1 NO SPRINKLERS �. „/� t11 \s �e/ j I � ' i� �� � ll�ll ' j . 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M 1 I II I I 2x6 BOTTOM STRINGER I 1 1 1 (EXTERIOOR SIDE ONLY) FINISHED GRADE N \ ly. \\:\/\\ . \\741/111 '\ • \\''. o CONCRETE FOOTING �� / 3" MIN. \ ,. ALL SIDES,TYP. -CRUSHED ROCK , %/1. / /t//i SK. , 1 Ph ■ City of Tigard • Pre-Application Conference Notes T I< A R D Nonresidential Developments Meeting Date: April 28,2020 PRE2020-00022 Applicant: Brendan Sanchez,Access Architecture Contact: brendan@access-arch.com Property Location: 6980 SW Vams Street;WCTM 2S101DA,Tax Lot 2000 Proposal: Tenant improvement for new tenant at 6980 SW Varns Street. Building is 4,010 square feet in size, and use will be changing to medical office.Proposed site work includes: restriping parking lot for ADA compliance,removing four (4) on-site parking spaces and converting area to landscaping, and installing a new fence and gate. Base Zone: C-P (Professional/Administrative Commercial Zone) I Sensitive Lands: No Required Applications: Minor Modification (Type I) and possible Adjustment(Type II) Planner: Lina Smith Contact: (503) 718-2438/LinaCS@tigard-or.gov - z " `` Applicable Chapters 18.120 Commercial Zones 18.310 Nonresidential General Provisions 18.320 Commercial Zone Development Standards 18.410 Off-Street Parking and Loading 18.420 Landscaping and Screening 18.715 Adjustments 18.765 Modifications Land Use Application Review Process 18.710 Land Use Review Procedures An Adjustment is subject to a Type II procedure, as provided in Section 18.710.060. A Minor Modification is subject to a Type I procedure,as provided in Section 18.710.050. Multiple applications for a single proposed development will be consolidated unless the applicant specifies otherwise in the application. A concurrent application review consolidates the review of multiple applications into a single review process. The applications will be processed using the highest review type (Type II) required for any part of the proposed development. The approval authority is Community Development Director and the appeal authority is the Hearings Officer. Review the complete procedures in Chapter 18.710. A neighborhood meeting is NOT required. For submittal requirements,refer to Section 18.710.030.0 and the pre-application packet. 18.310 RESIDENTIAL GENERAL PROVISIONS 18.310.020 Fence and Wall Standards Fences and walls may be located within required setbacks. Fences and walls located within required setbacks are subject to the standards in this section.Fences and walls located outside required setbacks are subject to the applicable standards in Chapter 18.320,Commercial Zone Development Standards, or Chapter 18.330,Industrial Zone Development Standards. A. Fences and walls in a required front setback may be a maximum of 3 feet in height where abutting a local or neighborhood street and a maximum of 6 feet in height where abutting a collector or arterial street. B. Fences and walls in a required side,street side,or rear setback may be a maximum of 8 feet in height. Fences and walls 7 feet or more in height require a building permit. C. Fences and walls must meet vision clearance area requirements in Chapter 18.930, Vision Clearance Areas. 18.320 COMMERCIAL ZONE DEVELOPMENT STANDARDS 18.320.040 Development Standards Refer to Table 18.320.1 for all development standards for the C-P Zone. Minimum landscape area for the C-P Zone is 15%, and maximum lot coverage is 85%. Any landscaping that is counted toward the minimum 15%must meet the L-2 standard in Table 18.420.1. Table 18.420.1 Landscaping Standards • A minimum of 50% of the total required landscape area must include small,medium, or large shrubs; • A maximum of 50% of the total required landscape area may include any combination of mulch, groundcover, lawn, or hardscape, except that L-2 hardscape areas may not cover more than 25% of the total required landscape area;and • If tree canopy standards do not apply as provided in Subsection 18.420.020.C, then 1 tree must be provided for every 600 square feet of total re uired landsca.e area. Service areas and wall- and roof-mounted utilities must be screened to the S-1 standard in Table 18.420.2.Also refer to Section 18.420.050 for additional screening standards. Table 18.42,0.2. Screening Standards Standard Minimum Requirements Depth Service areas: • Sight-obscuring fence or wall mem Roof-mounted equipment or utilities: S-1 N/A • Parapet wall or sight-obscuring structure Wall-mounted equipment or utilities: • Architecturally incorporated into building or sight-obscuring fence, wall, or structure If proposing modifications to waste and recycling areas,refer to Sections 18.320.040.B.2, 18.420.050, and Table 18.420.2. If proposing to modifications to building lighting,refer to Section 18.320.040.E for lighting standards. 18.410 OFF-STREET PARKING AND LOADING 18.410.040 General Design Standards Refer to Section 18.410.040 for all general design standards for parking. If proposing modifications to parking lot lighting,refer to Section 18.410.040.H for lighting standards. 18.410.070 Vehicle Parking Quantity Standards The minimum parking requirement for a medical office is 3.0 spaces for every 1,000 square feet of floor area. The subject building is 4,010 square feet in size; therefore, the minimum parking requirement for this site is 16 spaces (fractional space requirements are counted as a whole space). The current proposal is under-parked. Applicant has the following options to address the minimum parking requirement: • Restripe on-site parking lot to provide 16 spaces,or • Look into shared parking agreement with adjacent property, in accordance with Section 18.410.030.E, or • Apply for a Type II Adjustment,in accordance with Chapter 18.715 Adjustments. 18.715 ADJUSTMENTS Refer to attached document for all applicable approval criteria. 18.765 MODIFICATIONS Refer to Section 18.765.060 for all applicable approval criteria. Service Provider Letters The following service provider letters are required with your land use application submittal: • Clean Water Services: https://www.cleanwaterservices.org/permits-development/step-by- step-proces s/environmental-review/ • Pride Disposal (if proposing to modify waste and recycling areas): Contact Kristen Tabscott at ktabscott@pridedisposal.com Additional Information ENGINEERING REQUIREMENTS (Chapter 18.910 and 18.920) All requirements relating to street and utility improvements are provided in the Engineering Checklist. DEVELOPMENT PERMITS Development permits will not be accepted until a land use approval has been granted. Comments from the Building Division are not included in these notes. For specific questions, please contact the Building Division at (503) 718-2439 or tigardbuildingpermits(aiitigard-or.gov for any Building Code related questions or issues. Final inspections will not be granted until all land use conditions of approval are satisfied. DISCLAIMER The pre-application conference and notes cannot cover all applicable requirements related to the proposed development. Failure of city staff to provide information required by Title 18 does not constitute a waiver of the applicable criteria, regulations, or standards. It is recommended that the applicant read Title 18 or contact city staff with any questions prior to submittal. Chapter 18.715 ADJUSTMENTS 18.715.050 Approval Criteria The approval authority will approve or approve with conditions an adjustment application when all of the criteria in either Subsection 18.715.050.A or B are met. A. Criteria for demonstrating substantial compliance. 1. The proposed adjustment results in development that is generally consistent with the purpose of the development standard to be adjusted; and a. Has only minor impacts on surrounding properties or public facilities; or b. Addresses a site constraint or unusual situation; or c. Utilizes innovative design or results in sustainable development. 2. The proposed adjustment does not have a greater impact on city-designated sensitive lands than would otherwise occur if the adjustment was not approved; and 3. If the proposed adjustment addresses a site constraint or unusual situation, utilizes innovative design, or results in sustainable development, any impacts from the proposed adjustment are mitigated to the extent practicable; and 4. If more than one adjustment is proposed, the cumulative effect of the adjustments results in development that is generally consistent with the existing development pattern of the surrounding area and the overall purpose of the base zone. B. Criteria for demonstrating hardship. 1. Application of the development standard proposed for adjustment would preclude all reasonable economic use of the property; 2. The need for the proposed adjustment is the result of conditions or circumstances outside the control of the applicant or property owner; 3. The proposed adjustment results in development that equally or better meets the purpose of the development standard to be modified; and 4. Any impacts from the proposed adjustment are mitigated to the extent practicable. City of Tigard all CCOMMUNNITY DEVELOPMENT DEPARTMENTEril TIGARD Pre-Application Conference Request PROJECT INFORMATION REQUIRED SUBMITTAL Project name: Madrona Recovery Center T.I. ELEMENTS Brief description of proposed project and uses: 5 SETS of the following: Selective interior renovation of an existing 2-story, 1K Detailed description of the project including: wood-framed building. Existing B occupancy to remain. • Proposed buildings or lots, • Proposed site improvements,and • Proposed uses. SITE INFORMATION NJ Site plan Location (address if available): 6980 SW Varns Street II Application Fee Rev 01/2019 Tax map and tax lot numbers: 2S101 DA02000 Zone: APPLICANT INFORMATION Name: John Thornton I Madrona Recovery Mailing address: 7000 SW Varns Street City/State: Tigard, OR Zip: 97223 Phone: (503) 749-0200 Email: jthornton@madronarecovery.com Applicant's representative: Brendan Sanchez I Access Architecture Phone: (503) 756-9213 Email: brendanAaccess-arch.corn This request must be submitted in person at the Permit Center between the hours of 8 a.m. and 4:30 p.m. Monday through Thursday. Pre-application conferences scheduled two or more weeks out from the date the request is submitted. They are one hour in length and are held between the hours of 9 a.m. and 11 a.m. on Tuesdays and Thursdays. If you plan to bring more than four people,please inform the city in advance so that alternate room arrangements can be made to accommodate your group. STAFF USE ONLY Case No: PRE2020 00022 Application fee: $341 Received by: SC Date: 4/21/2020 Date of pre-app: 4/28/20 Time of pre-app: 11 a.m. Planner assigned to pre-app: LS City ofTigard • 13125 SW Hall Blvd. • Tigard,Oregon 97223 • www.tigard-or.gov • 503-718-2421 • Page I of /\ Access I Architecture MADRONA RECOVERY EXPANSION CONCEPTUAL SCOPE OF WORK NARRATIVE The proposed scope of work for the potential acquisition/renovation of the 6980 SW Varns Street Building is intended to include, but not be limited to: - Make existing restrooms ADA compliant - Add restroom adjacent to south stair - Wall off entry space to create a lobby - Wall off stairs from central open space - Upgrade stair handrails to be Code compliant - Replace(5)west sliding doors with windows - Secure/lock electrical panel - Replace flooring throughout - Replace lighting in central open space with - Install impact-resistant wood paneling in LED fixtures common areas - New paint throughout - Add mag locks to all exit doors - Replace HVAC system - Add (10)security cameras - Replace north egress door for ADA clearances - Remove deck north of entry and extend fence - Verify septic system capacity and function - Assume no fire sprinklers required CONCEPTUAL PLAN SKETCH - Not to scale I Not all scope shown CINA ' I (E)BATHROOM TO BE MADE ADA FRAME FULL-HEIGHT WALL TO ENCLOSE STAIR,BOTH STAIRS � �► (E)BATHROOM TO BE MADE ADA -NEW ADA BATHROOM NEW FULL HEIGHT WALLS 111 . AMMO WITH CONTROLLED ACCESS INNNEW FULL HEIGHT WALL C TO CREATE LOBBY IF V Al NEW LOBBY SECURE ELECTRICAL PANEL / REPLACE DOOR N TO PREVENT TAMPERING www.access-arch.com 1400 Columbia Street, Ste 120,Vancouver,WA 98660 1503,756.9213 Access I Architecture MADRONA RECOVERY CENTER T.I. April 21",2020 Pre-Application Project Narrative: The project is located on a gently sloped,0.59-acre site at 6980 SW Varns Street, Portland,OR,97223. The site contains an existing 2-story,wood-framed, non-sprinklered building and a 1-story detached garage.The most recent use of the building was as a B occupancy. Site work proposed with the tenant improvement includes restriping for an ADA-compliant van accessible parking stall and access aisle, removal of parking spaces at the east side of the building,and new fencing to tie into existing fencing on the adjacent lot(also owned by Madrona Recovery). Building interior work proposed with the tenant improvement includes but is not limited to: selective non- structural wall demo and construction, revisions to existing restrooms to make them fully accessible,the creation of an additional accessible restroom,and the creation of a walled-off entry lobby.The proposed usage of the building is to remain B occupancy. Pre-Application Questions: 1. If the existing septic system is found to be adequate for the proposed renovation, is it acceptable to use it as opposed to connecting to the City line? www.access-arch.com 1400 Columbia Street,Ste 120,Vancouver,WA 98660 1503.756.9213 TES I /� � `�'��//' ��, .,� _ )I \ SITEN:OMO:x»,:e\IIllllll/r/r II 111"`\ I \ nlx E.nnxeIFmiw,Mlwwlmttw AvamRrdMeniee '/ l/ / . // rr —� nwn. nEE i vnnnwvmuncxouwwr.aay. 1 • / /, D. o��ro�� olR�Kx�w.�x w u i ` / / HIGHWAY 217 wnxEw wlown err d�a°�Q //ulrulo "/l(LOCATION • NAPPROXNG - /1 \ SITE PLAN KEYNOTES (LOCATION APPROXIMATE) t: �IIII�Irlrr/ O � I N TU16 .. TI.If I / ; /; I j 1. � / LU al'ur ! �„x.aroEro.rw. LL/ EXISTING BULGING ' 0 OCATIGNAITAONIMNTB) �,..//—__ —_____ __—___ _—__—______ __ ' .Z., ® E CAM O f L W �? EXISTING �Tw N gyp �v 2+1 / � I co m r�% i \� O3 I II yI��. �,i � QZ� �i /2.STORY BUILDING V-B CONST BOCCUPANCY / // j WOODFRAMED IIIIIr/ % \ / :/ NO SPRINKLERS_ �, '/ii %�r�IIT,w\ // N` �7� �1 ��11I II ° /// 1 E%IST1NG BUILDING ./ / i /I� \\ /i/• (LOCATION APPROXIMATE) PRE-APPLICATION ,d yjlll 111` �1A,, ,,, ,,,r; ,,J L„i =I / �������I - \_. —;\ f i 'P// 111 t \\� / /] ¢I 11 I\, /rr/IN III\\�\ i EN MUBU1LEGNG (LOCATION APPROXIMATE) /ir I�O� I \`\�\111� Il�j_ _\ �h/' III\\'! I �� ,- I - n �_� n. Blue f Z1 Mir "6rr P /rr,/,II I1II\\"‘\ A1.10 ARCHITECTURAL SITE PLAN Q ARCHITECTURAL n{o r.,o SITE PLAN DISCLAIMER: E-mails sent or received by City of Tigard employees are subject to public record laws. If requested, e-mail may be disclosed to another party unless exempt from disclosure under Oregon Public Records Law. E-mails are retained by the City of Tigard in compliance with the Oregon Administrative Rules "City General Records Retention Schedule." From: Brendan Sanchez<Brendan@access-arch.com> Sent:Tuesday,April 21,2020 3:53 PM To:Samuel Copelan<samuelc@tigard-or.gov> Cc:Timon Manongi<timonm@bcgroup-inc.com>; Bob Beauchemin <bobb@bcgroup-inc.com>;John Thornton <jthornton@madronarecovery.com> Subject: RE: Pre-App for 6980 SW Varns St Hi Sam, A couple of clarifications that might help:The building will be used primarily for administrative purposes. Madrona won't be placing any beds in the building. I don't believe a pre-app is required, but we're opting for one anyway so that everything goes smoothly when we submit for permit(next month). We don't have a full scope of work yet, but I've attached a conceptual scoping document that gives you an idea of the renovations we're considering. Lastly, here is a quick summary from the Owner of how the building will operate: Madrona Recovery intends to use this property for groups and offices. We would like to operate outpatient services for mental health,substance use disorder and trauma for at risk teenagers in our region. Offices will support our admissions team, nursing staff, psychiatric providers, group leaders and administration. Our groups will operate between 8am and 9pm, 7 days a week. Let me know if there's anything else you need. Thanks! Brendan Brendan Sanchez I Principal AIA,NCARB,LEED AP BD+C pronouns:he/him/his 400 Columbia Street,Ste.120 Vancouver,WA 98660-3413 Access j Architecture P: 503.756.9213 From:Samuel Copelan<samuelc@tigard-or.gov> Sent:Tuesday,April 21, 2020 2:24 PM To: Brendan Sanchez<Brendan@access-arch.com> Cc:Timon Manongi<timonm@bcgroup-inc.com>; Bob Beauchemin<bobb@bcgroup-inc.com>;John Thornton 3 Lina Smith From: Brendan Sanchez <Brendan@access-arch.com> Sent: Thursday, April 23, 2020 5:34 PM To: Lina Smith Subject: RE: Pre-App for 6980 SW Varns St Caution!This message was sent from outside your organization. Allow sender I Block sender Hi Lina, The ground floor is roughly 3,476sf and the second floor is roughly 534sf. Let me know if there's anything else you need. Best, Brendan AA Brendan Sanchez I Principal AIA, NCARB,LEED AP BD+C pronouns:he/him/his 400 Columbia Street,Ste. 120 Vancouver,WA 98660-3413 Access I Architecture P: 503.756.9213 From: Lina Smith <LinaCS@tigard-or.gov> Sent:Thursday, April 23, 2020 3:49 PM To: Brendan Sanchez<Brendan@access-arch.com> Subject: RE: Pre-App for 6980 SW Varns St Quick question—what's the total size of the building in square feet?That'll help me calculate the minimum parking requirement. Thanks, Lina Lina Smith Assistant Planner City of Tigard Community Development 13125 SW Hall Blvd.Tigard,OR 97223 E-mail: 1.inaCS(itigard-or.gov From: Lina Smith Sent:Thursday,April 23, 2020 1:28 PM To: Brendan Sanchez<Brendan@access-arch.com> Cc:Timon Manongi<timonm@ bcgroup-inc.com>; Bob Beauchemin <bobb@bcgroup-inc.com>;John Thornton <jhornton@madronarecovery.com>;Joe Wisniewski<joew@tigard-or.gov>;John Wolff(TVFR)<iohn.wolff@tvfr.com>; 1