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MMD2010-00008
P AFFIDAVIT OF MAILING - I, Patricia L. Lunsford, being first dulysworn/affirm, on oath depose and saythat I am a Planning Assistant for the City of Tigard, Washington County, Oregon and that I served the following: ( Q k App wn- Mx(s) &I —) ❑x NOTICE OF DECISION FOR MMD2010- 00008 /FANNO CREEK PLACE (File No. /Nmie Refemnce) AMENDED NOTICE ® City of Tigard Planning Director A copy of the said notice being hereto attached, marked Exhibit "A" , and by reference made a part hereof, was mailed to each named person(s) at the address (s) shown on the attached list(s), marked Exhibit "B" , and by reference made a part hereof, on May 18, 2010, and deposited in the United States Mail on May 18, 2010 postage prepaid. (Person that Prepared Notice) STATE OF OREGON County of Washington ss. City of Tigard TD Subscribed and sworn/affinned before me on the c day of A ) 2010. OFFICIAL SEAL SHIRLEY L TREAT NOTARY PUBLIC - OREGON 4 � COMMISSION NO. 418m NOTARY PUBL C OF OREGON Mr COMMISSION EXPIRES APRIL 2S, 2011 "t 1� /► My Commission Expires: City of Tigard, Oregon 13125 SWHall Blvd. • Tigalu, OR 97223 EXHIBIT TIGARD May 14, 2010 G & S FC, LLC c/o Jerry Park Parkland Development, LLC 16850 SW Upper Boones Ferry Rd., Suite A Tigard, OR 97224 RE: Fanno Creek Place Minor Modification Request (MMD2010- 00008) 16083 SW Upper Boones Ferry Rd.; WCTM 2S113AB, Tax Lot 500 Mr. Park: This letter is in response to your request for a Minor Modification (MMD2010- 00008) of the previously approved Site Development Review (SDR2006- 10002) on the property located at 16083 SW Upper Boones Ferry Road. This proposal is to create a vehicle inspection area for a new insurance company tenant. This requires the addition of an aluminum roll-up door along the southwest wall of the building (Building B) and a new vehicular access into the building. Existing landscaping and parking will be modified to create the access. The applicant proposes to remove four parking spaces, remove 148 square feet of landscaping, and add back 432 square feet of landscaping. No other changes are being proposed or approved through this modification. Analysis of Modification Request: Section 18.360.060 of the Tigard Development Code Site Development Review chapter, states; "any modification which is not within the description of a major modification as provided in section 18.360.050 shall be considered a minor modification." Section 18.360.050 states that the Director shall determine that a major modification(s) has resulted if one (1) or more of the changes listed below have been proposed: 1. An increase in dwelling unit density or lot coverage for residential development. The proposal does not involve residential property. Therefore, this standard does not apply. 2. A charge in the ratio or number of different types of dwelling units. This criterion is not applicable, as this request does not involve a residential development. Page 1 of 3 Phone: 503.639.4171 . Fax: 503.684.7297 . www.tigard- or.gov • TTY Relay: 503.684.2772 3. A change that requires additional on -site parking in accordance with Chapter 18.765. No additional on -site parking is required. Parkin requirements are based on the proposed square footage and use. The approved use for the site is office, and the insurance company tenant is also classified as an office use. The applicant is not adding any square footage to the building. This standard is satisfied. 4. A change in the type of commercial or industrial structures as defined by the Uniform Building Code. No change in the structural type of the buildings is proposed. Therefore, this criterion is not applicable. 5. An increase in the height of the buildings) by more than 20 percent. The applicant has not proposed any changes to building heights. Therefore, this standard is met. 6. A change in the type and location of accessways and parking areas where off -site traffic would be affected. The proposal is to modify existing parking, landscaping, and building fagade. No changes are proposed to accessways or parking areas. This criterion is satisfied. 7. An increase in vehicular traffic to and from the site and the increase can be expected to exceed 100 vehicles per day. Typically traffic counts are estimated by considering the proposed use. There is no change to the approved use for the site ( Because there is a vehicle inspection area associated with the office use, additional vehicles will be accessing the site. The applicant states that a maximum of twelve, 30 minute appointments are available for inspections on any given work day. These 12 vehicles could create an additional 24 vehicle trips, but is far less than the 100 vehicles per day. This criterion is met. 8. An increase in the floor areas proposed for a non - residential use by more than ten percent excluding expansions under 5,000 square feet. No increase in the floor area is proposed. Therefore, this standard is satisfied. 9. A reduction in the area reserved for common open space and /or usable open space that reduces the open space area below the minimum required by the code or reduces the open space areas by more than ten percent. No common open spaces were previously required. This criterion is not applicable. 10. A reduction of project amenities (recreational facilities, screening; and /or, landscaping provisions) below the minimum established by the code or by more than ten percent where specified in the site plan. The approved proposal had 20% landscaping (56,172 square feet). Landscaping will still be 20% with the modifications (56,455 square feet). The amount of square footage has slightly increased. This standard is met. 11. A modification to the conditions imposed at the time of Site Development Review approval that is not the subject of criteria (B). 1 through 10 above. Staff has reviewed the previous Site Development Review (SDR2006- 10002). This proposal does not modify or adversely affect any previously imposed conditions. This standard is met. As the findings above show, the proposed development is a minor modification to an existing development. Page 2 of 3 In addition, Tigard Development Code (TDC) 18.360.060.0.1 states that a minor modification shall be approved, approved with conditions, or enied following the Director's review based on the finding that the proposed development is in compliance with all appIcable requirements of this title. Section 18.745.030.E. states that existing ve on a site shall be protected as much as possible. 1) The developer shall provide methods for the protection of existing vegetation to remain during the construction process; and 2) the plants to be saved shall be noted on the landscape la. (e.g., areas not to be disturbed can be fenced, as in snow fencing which can be placed around individual trees). The applicant's plans do not address what will happen to exis landscape trees within the construction zone. These trees are required to remain to meet previously approved�andscape and mitigation plans. A condition of approval will ensure the protection and/or the replacement of existing landscape trees that maybe affected during construction. The Director's designee has determined that the proposed minor modification of this existing site will continue to promote the general welfare of the City and will not be significantly detrimental, nor injurious to surrounding properties provided that, development which occurs after this decision will comply with all applicable local, state, and federal laws as conditionally approved. CONDITIONS OF APPROVAL THE FOLLOWING CONDITIONS SHALL BE SATISFIED 1. The applicant shall protect the existing landscape trees within the development area during construction with snow fencing as required by TDC18.745.030.E. Material storage is not allowed within the tree protection zone. If landscape trees are damaged or removed, the applicant shall replace the trees with similar size and species. 2. The applicant shall obtain all necessary permits from the City's Building Division prior to construction. STAFF CONTACT: Building Permit Technicians (503) 718 -2437. 3. Prior to final building inspection, the applicant shall contact the Staff Planner, Cheryl Caines, 503- 718 -2437 for a final walk-through. All site improvements must be completed per approved plans. THIS REQUEST HAS BEEN APPROVED WITH CONDITIONS BY THE PLANNING DIVISION. PLEASE SUBMIT A COPY OF THIS LETTER WITH YOUR BUILDING PERMIT APPLICATION. Sincerely, 6 -A, c Cheryl Caines Associate Planner Page 3 of 3 L VICINITY MAP TT v MMD2010 -00008 FANNO CREEK PLACE Subject Site J r ( r t A / x .. Io X. u ^ ^ .'X'< � '+•� _ r �'�� Information on this map is for general location only and should be verified with the Development Services Division. Scale 1.4,000 - 1 in = 333 ft Map printed at 02:4/ I'M On 14- May -10 DATAISDERIVEDFROM MULTIPLE SOURCES. THE CITY OFTIGIRD I MAKES NO WARRANTY. REPRESENTATION OR GUARANTEE AS TO THE •` \`\ I I CONTENT, ACCURACY. TIMELINESS OR COMPLETENESS OF ANY OF THE NO LIABILITY ANY ERRORS, OMISSIONS. OR ES THE INFORMATION PROVIDED REGARDLESS OF HOW CAUSED. t I 13125 Fleet T IG AR MA I'I�1 PS Tigard, OR 97223 , • Q(� I + www.tigard-or.gov a - 1 148 sq. ft. new concrete slab i - 187 sq. ft. new landscaping Remove 4 existing parking spaces Ramp driving surface to meet sidewalk elevation X 245 sq. ft. new landscaping CITY OF TIGARD Approved ----------------------------------- -------------------- - - - - -- - - - - -- I X ] ^�.mditionally Approved ........... .. Far only the w as described in: i'=RMIT NO. =oIU . ( ] See Letter to: Follow ---- - - - - -- - -' Atta - - ------t 1 + l In c � i �i - S �P -�i rah t 1—�'t� • 1 . Jcb Address: — 7- 1 0 P ': Date: ��-_ 1, �., . Site Plan Detail A2 Scale O 2 , 5, 1 May 4, 2010 J � G &SFC,LLC c/o Jerry Park MMD2010 -00008 Parkland Development, LLC FANNO CREEK PLACE �/ pp yJ 16850 SW Upper Boones Ferry Road, Suite A EXH I D IT Tigard, OR 97224 G&S FC LLC #A 16850 SW Upper Boones Ferry Road Portland, OR 97224 2S113AB00500 G &S FC LLC #A 16850 SW UPPER BOONES FERRY RD PORTLAND, OR 97224 RECEIVED MAY 0 4 2010 CITY OF TICAFD City of Tigard 1A.NwiP'9',1 t NEER!NG . Minor Modification — Type I Application GENERAL INFORMATION In addition, the Director must find that the proposed l 4CC B t B change is in compliance with all applicable requirements of Property Address /Location(s): Q 110 Title 18 of the Tigard Development Code. To complete / 6��3 SltJ ©n��s vad �``- a this review, the Applicant's proposal must include a Tax Map & Tax Lot #(s): a2, S l 1 3 88 — c e — 00 discussion indicating how the site expansion /change will FIpt1J 0 CIS Ac S LOT 1 7 , continue to comply with the maximum setback, building Site Size: I� T / C �1� 2 ac�� 1�CR�S �•�� height, parking, and landscaping standards. Other requirements of this tide such as clear vision, solid waste Applicant *: S EC, ►_.(.,C_ storage, non - conforming situations, signs, and tree Address: f 6 0'5 U S11 u Psi Qoa ne.S Fe4y R d removal may also be applicable depending on the type and City /State: Dr cr k Zip: V7 location of the proposed modifications. Primary Co ntact: Phone: `01 01 "S ' Fax: S03 — 6 3 L E -Mail: Property Owner /Deed Holder(s) *: REQUIRED SUBMITTAL ELEMENTS (Attach list if more than one) Scram �� O��t ,��`� � 1 (Applications will not be accepted without the / following required submittal elements) Address: Phone: City /State: Zip: Application Form Owner's Signature /Written Authorization * When the owner and the applicant are different people, the Title Transfer Instrument or Deed applicant must be the purchaser of record or a lessee in Site Plan (4 Large Plans & One — Reduced to 8' /z" x 11 ") possession with written authorization from the owner or an Applicant's Statement /Narrative (4 copies) agent of the owner. The owner(s) must sign this application in the space provided on the back of this form or submit a Filing Fee $579.00 written authorization with this application. Minor Modifications: Minor Modifications are processed for permitted uses and conditional uses. To review a modification as a Minor Modification, the Director must first find that the expansion or change does not invoke one or more of the criteria discussed within Section 18.360.050(B) — Site Development FOR STAFF USE ONLY Review or Section 18.330.020(B)(2) — Conditional Use. If the 1< 0 6 �6 / p _ ( 1U00g modification exceeds the maximum allowed under any one or Case No.(s): more of the criteria, a Major Modification review is required. Major Modifications are processed in the same manner as a Other Case No.(s): new Site Development Review or Conditional Use Permit. Receipt No,: _ # -?-2 So- Applicant's Statement: Date: O L t 1 O The applicant's statement must include a summary of the Application Accepted By: proposed changes. Criteria in either 18.360.050(B) or 18.330.020(B)(2) must be addressed with a detailed response Date Determined Complete: to each criterion. Failure to provide the information needed Revised: 16 -Oct -09 to process the application would be reason to consider an is \cu 1n \m asters \land use a hcations \minor modification a .docx application incomplete and delay review of the proposal. City of Tigard 1 13125 SW Hall Blvd., Tigard, OR 97223 1 503 - 639 -4171 1 www.tigard - or.gov I Page 1 of 2 To consider an application complete, you will need to submit ALL of the REQUIRED SUBMITTAL ELEMENTS as described on the front of this application in the "Required Submittal Elements" box. (Detailed Submittal Requirement Information sheets can be obtained, upon request, for all types of Land Use Applications.) THE APPLICANT(S) SHALL CERTIFY THAT: • The above request does not violate any deed restrictions that may be attached to or imposed upon the subject property. ♦ If the application is granted, the applicant will exercise the rights granted in accordance with the terms and subject to all the conditions and ]imitations of the approval. ♦ All of the above statements and the statements in the site plan, attachments, and exhibits transmitted herewith, are true; and the applicants so acknowledge that any permit issued, based on this application, and may be revoked if it is found that any such statements are false. ♦ The applicant has read the entire contents of the application, including the policies and criteria, and understands the requirements for approving or denying the application. SIGNATURES of each owner of the subject property. DATED this day of 1 20 Owner's Signatu a Owner's Signature Owner's Signature Owner's Signature Owner's Signature Owner's Signature City of Tigard 1 13125 SW Hall Blvd., Tigard, OR 97223 1 503 - 639 -4171 1 www.tigard- or.gov I Page 2 of 2 CITY OF TIGARD RECEIPT as 1t 13125 SW Hall Blvd., Tigard OR 97223 503.639.4171 a Receipt Number: 177807 - 05/05/2010 CASE NO. FEE DESCRIPTION REVENUE ACCOUNT NUMBER PAID MMD2010 -00008 Minor Modification to an Approved Plan 1003100 -43116 $504.00 MMD2010 -00008 Minor Modification to an Approved Plan - 1003100 -43117 $75.00 LRP Total: $579.00 PAYMENT METHOD CHECK # CC AUTH. CODE ACCT ID CASHIER ID RECEIPT DATE RECEIPT AMT Check 1137 STREAT 05/05/2010 $579.00 Payor: G & S FC, LLC Total Payments: $579.00 Balance Due: $0.00 Page 1 of 1 Applicant's Statement Minor Modification —Type I Application Fanno Creek Place Building B 16083 SW Upper Boones Ferry Road Tigard, OR 97223 18.360.060 Minor modification(s) to Approved Plans or Existing Development A. The proposed modification is a Minor Modification. 1. The project is not residential. 2. There is no change in the number of residential units. 3. The proposal does not create an increased need for parking. 4. There is no change proposed to the type of commercial use of the site. 5. There is no change or increase to the height of the building. 6. The proposed change does not affect off -site traffic. 7. Any increase in the number of cars visiting the site would be less than 100 cars daily. The inspection of vehicles on the site is performed by scheduled appointment. A maximum of 12 30 minute appointments are available in any given work day. 8. No increase in floor area is proposed. 9. There is no net reduction in landscape or open space areas. The net area of landscape is increased by 284 sq. ft. 10. No project amenities are affected. 11. The proposal does not affect previous conditions of approval. j ................ .. . .. ................... . ... ... .................................. ' i Bugling A At a' Upper oo ''•:,." 4 � L Site Plan Al Scale May 4, 2010 0 20 50 1 00 Cheryl Caines From: Robert Simpson [rsapc @verizon.net] Sent: Thursday, April 29, 2010 3:26 PM To: Cheryl Caines Cc: 'su moran' Subject: 10007 - Fanno Creek Place, Building B Attachments: Portland 1st Floor -Site Alteration.pdf; Portland 2nd Floor.pdf Cheryl, As I stated on the telephone, I now have some additional information for you. I've attached pdf's of schematic first and second floor plans for the proposed tenant. The alteration is shown on the lower left (northwest corner of the first floor plan. Please let us know if this is so minor as to not warrant a formal review process by the City. Please contact me if you have any questions or require additional information. Thanks. Bob r g o at camtk,, f a, • 503- 709 -9653 • PC v: r x DISCLAIMER: This message and any attachments are intended for the sole use of the individual or entity to whom it is addressed. It may contain information that is privileged, confidential, and / or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that you may not use, copy, disclose, or distribute this message or any information contained within, including any attachments, to anyone. If you have received this message in error, please immediately advise the sender and permanently delete the message and any attachments and destroy any printouts made. 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Ol H 19 a y /+RO Wf0 HRO AVfO AIRO AInO eU 04 00 FIR FlR P ei -H 12 I 20 I Secretary of State Registry Number: 5 14686-93 Corporation Division Type: DOMESTIC LIMITED LIABILITY COMPANY 255 Capitol Street NE, Suite 151 Salem, OR 97310 -1327 Phone: (503)986-2200 FILED Fax. (503)378-4381 Apr 21, 2008 www.filinginoregon.com OREGON SECR OF STATE 1) DOMESTIC LIMITED LIABILITY COMPANY G&S FC, LLC 2) DESCRIPTION OF BUSINESS 4) NAME & ADDRESS OF REGISTERED AGENT 53112 - Lessors of Nonresidential Buildings (except Jerry Fark Min warehouses) 516 Sf Morrison Street Suite 1000 Portlard, OR 97214 3) MAILING ADDRESS USA 516 SE Morrison Street Suite 1000 Portland. OR 97214 USA I 5) ORGANIZERS 669365 -85 - G&S INTERNATIONAL, L.L.C. 516 SE Morrison Street Suite 1000 Portland OR 97214 USA Authorized Signer: Gun Bo Park 6) DURATION ; perpetual I 7) MANAGEMENT i This Limited Liability Company is member managed. 8) PROFESSIONAL SERVICES None By my signature, I declare as an authorized authority, that this filing has been Examined by me and is, to the best of my knowledge and belief, true, correct, and complete. Making false statements in 'his document is against the law and may be penalized by fines, imprisonment, or both. By typing my name in the electronic signature fleld, I am agreeing to conduct business electronically with the State of Oregon. I understand that transactions and /or signatures In records may not be denied legal effect solely because they are conducted, executed, or prepared in electronic form and that if a law requires a record or t ignature to be in writing, an electronic record or signature satisfies that requirement. 9) ELECTRONIC SIGNATURES Gun Bo Park 05/0512006 Business Registry Business Name Search Page 1 of 2 \ OREGON SECRETARY OF STATE WME_ ► Corporation Division business information center r buWnm name search oregon business guide referral list business registry/renewal formstfees notary public uniform commercial code uniform commercial code search documents & data services Business Name Search 010 New Search Printer Friendly Business Entity Data 1 OS -03 -2-2 Registry Nbr Entity Entity Jurisdiction Registry Date Next Renewal Renewal Due? Tvpe Status Date 514686 -93 DLLC ACT OREGON 04 -21 -2008 1 04 -21 -2011 Entity Name G &S FC, LLC Foreign Name New Search Printer Friendly Associated Names Type PPB PRINCIPAL PLACE OF BUSINESS Addr 1 16850 SW UPPER BOONES FERRY RD STE A Addr 2 CSZ ORTLAND JOR 197224 1 Country ITED STATES OF AMERICA Please click here or general information about registered agents and service o process. Type AGT IREGISTERED AGENT I Start Date 104-21-20081 Resign Date Name JERRY 77PARK Addr 1 16850 SW UPPER BOONES FERRY RD STE A Addr 2 CSZ [PORTLAND JOR 197224 1 1 Country ITED STATES OF AMERICA Type MALIMAILING ADDRESS Addr 1 16850 SW UPPER BOONES FERRY RD STE A Addr 2 CSZ [PORTLAND JOR 197224 1 1 Country FNITED STATES OF AMERICA Type E EMBER Resign Date Name GUN IBO ARK Addr 1 16850 SW UPPER BOONES FERRY RD STE A Addr 2 CSZ 1PORTLAND JOR 197224 1 1 Country KNITED STATES OF AMERICA New Search Printer Friendly Name Histo Business Entity Name Name Name Start Date End Date http: // egov. sos.state.or.usibr /pkg_web_name srch_inq.show_detl ?p _ be_rsn= 1320263 &p_srce =BR INQ &... 5/3/2010 ,. Business Registry Business Name Search Page 2 of 2 Type Statu I G&S FC, LLC EN I CUR 1 04 -21 -2008 Please read before ordering Copies New Search Printer Friendly Summary Histo Image Action Transaction Effective Status Name /Agent Dissolved By Date Date Date Change 03 -26- ANNUAL REPORT 03 -26 -2010 SYS 2010 PAYMENT 04 -07- AMENDED ANNUAL 04 -07 -2009 FI 2009 REPORT 02 -23- CHANGE OF 2009 EGISTERED 02 -23 -2009 Fl GENT /ADDRESS 02 -23- CHANGE OF MAILING 02 -23 -2009 FI 2009 ADDRESS 04 -21- RTICLES OF 04 -21 -2008 FI Agent 2008 ORGANIZATION About Us I Announcements Laws & Rules Feedback Site Map I Policy I SOS Home I Oregon Blue Book I Oregon.gov For comments or suggestions regarding the operation of this sites please contact : businessregistry .sos(cilstate.or.us 4.01 © 2010 Oregon Secretary of State. All Rights Reserved. http: / /egov.sos. state. or.us /br /pkg_web_name_srch_inq. show_detl ?p_be_rsn= 1320263 &p_srce= BR_INQ &... 5/3/2010 7/1/09 TO 6/30/10 REAL PROPERTY TAX STATEMENT WASHINGTON COUNTY OREGON * 155 N FIRST AVE., RM 130 * HILLSBORO, OREGON 97124 QOPERTY DESCRIPTION MAP: 2S113AB -00500 ACCOUNT NO: R513153 SITUS: 16083 SW UPPER BOONES FE Ala /_l_'J G &S FC LLC 2009 -2010 CURRENT TAX BY DISTRICT: / #A COLL— PORTLAND 1,349.44 16850 SW UPPER BOONES FERRY RD ESD -NW REGIONAL 733.88 PORTLAND, OR 97224 SCHOOL - TIGARD 23, 782.60 TIGARf /TUAL /AFTER LOL 4,790.34 LEGAL DESCRIPTION CODE A REA: 023.74 EDU1 ATION TAXES: $30,656.26 FANNO CREEK ACRE TRACTS, LOT PT 37, PLUS PT WASHINGTON COUNTY 10,726.05 VACATED ROAD, ACRES 2.85 REG -METRO SERVICE 460.83 PORT — PORTLAND 334.84 FIRE —TV FIRE & RESCUE 7,276.05 CITY — TIGARD 11,988.78 I VALUES: LAST YEAR THIS YEAR UR— TIGARD —DOT 281.67 FIRE —TV FIRE & RESCUE LOL 1,197.59 MARKET VALUES: WASHINGTON COUNTY LOL AFTER 2,826.30 LAND 2,186,580 2,242,450 GENERAL GOVERNMENT TAXES: $35,092.11 STRUCTURE 7,085,700 7,692,510 ' 1 TOTAL RMV VALUE 9,272,280 9,934,960 BOND WASHINGTON COUNTY 694.60 .XABLE VALUES: �, BOND -METRO SERVICE DIST 733.88 ASSESSED VALUE 565,580 4,790,340 BOND -PCC 835.44 r , BOND -SD #23- TIGARD 3,728.32 BOND -TRI -MET 411.97 BOND- TIGARD /TUALATIN -AFTER 4,344.36 BOND —TV FIRE & RESCUE AFTER 572.45 PROPERTY TAXES: $9,291 $79,821.92 BOND —CITY OF TIGARD AFTER 1,023.22 APPEAL DEADLINE December 31, 2009 BOND —METRO SERVICE AFTER 892.92 BOND —PCC —AFTER 836.39 Value Questions 503- 846 -8826 Tax Questions 503 - 846 -8801 BOND AND MISC TAX: $14,073.55 Business Personal Property Questions 503 - 846 -8338 Other Questions 503 - 846 -8741 2009 -10 TAX (Before Discount) $79,821.92 PROPERTY TAX PAYMENT OPTIONS (See back of Statement for payment instructions.) t r. Due Discount Net Amount Due V _' Pay In Full 11/16/09 2,399.66 $77,427.26 DELINQUENT TAXES: NO DELINQUENT TAXES DUE 213 11/16/09 1,064.29 $ 52 , 15 7 3 (See back for explanation of taxes marked with an asterisk 113 11 / 16 / 0 9 NONE $ 2 6, 60 01 Delinquent Tax Total is included in payment options to the left.) 7 �� REMIT PAYMENT TO: Washington County TOTAL (After Discount) : $3-7,42-7-.26 MY MARKET VALUE WENT DOWN, BUT MY TAXES WENT UP? Your property taxes are based on your ASSESSED value not your MARKET value. A decline in the market value does not automatically reduce your property taxes. ,r more information, review the enclosed Washington County Property Tax Statement Guide or visit our website at: http: / /www.co. washington. or. us /AssessmentTaxation /index.cfm All Payments Processed Upon Receipt °1 Tear IIere RETURN THIS PORTION WITH PAYMENT - SEE BACK OF STATEMENT FOR INSTRUCTIONS 'Y "Fear Ifere 2009 -2010 Property Tax Payment Stub WASHINGTON COUNTY, OREGON ACCOUNT NO: R513153 r�l Mailing address change or name change on back of SITUS : 16083 SW UPPER BOONES FERRY RD �J stub. UNPAID DELINQUENT TAX IS INCLUDED IN PAYMENT OPTIONS FULL PAYMENT (Includes 3% Discount) DUE: 11 -16 -09 .............. ............................... $77,427.26 2/3 PAYMENT (Includes 2% Discount) DUE: 11 -16 -09 .............. ............................... $52,150.33 1/3 PAYMENT (No Discount Offered) DUE: 11 -16 -09 .............. ............................... $26,607.31 DISCOUNT IS LOST & INTEREST APPLIES AFTER DUE DATE G&S FC LLC #A Remit Payment to: 16850 SW UPPER BOONES FERRY RD WASHINGTON COUNTY ENTER AMOUNT PAID PORTLAND, OR 97224 Property Tax Payment Center P. 0. Box 3587 Due Date: 11/16/2009 Portland, OR 97208 -3587 34000015131530007742726000521503300026607311 CER T IFIED TO BE ATRUE AND CORRECT C( }PY OF THE ORIGINAL RECORDED ON WHEN RECORDED MAIL TO: INIAS� -�� -1— FIRST INDEPENDENT BANK FIRST AMERICAN TITLE INSURANCE Commercial Real Estate - Vancouver COMPANY, E sctoW Deper 1220 Main Street PO Box 8904 B _-- - - - - -- Vancouver, WA 98668 -8904 Y - - - -- SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY DEED OF TRUST THIS DEED OF TRUST is dated May 7, 2008, among G &S FC, LLC, an Oregon limited liability company, whose address is 7245 SW Ridgemont St., Portland, OR 97225 ( "Grantor "); FIRST INDEPENDENT BANK, whose address is Commercial Real Estate - Vancouver, 1220 Main Street, PO Box 8904, Vancouver, WA 98668 -8904 (referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and UPF Incorporated, a Washington corporation, whose address is 910 W. Boone Ave., Spokane, WA 99201 (referred to below as "Trustee "). CONVEYANCE AND GRANT. For valuable consideration, represented in the Note dated May 7, 2008, in the original principal amount of $10,285,000.00, 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: PARCELI: A PORTION OF LOTS 35, 36, 37 AND 38, FANNO CREEK ACRE TRACTS, A PLAT OF RECORD IN WASHINGTON COUNTY, TOGETHER WITH A PORTION OF THAT VACATED RIGHT OF WAY IN DOCUMENT NUMBERS 99049066 AND 2006 - 039844, WASHINGTON COUNTY DEED RECORDS, SITUATED IN THE SOUTHEAST 1/4 OF SECTION 12, AND IN THE NORTHEAST 1/4 OF SECTION 13, TOWNSHIP 2 SOUTH, RANGE 1 WEST, WILLAMETTE MERIDIAN, IN THE CITY OF TIGARD, COUNTY OF WASHINGTON, AND STATE OF OREGON, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE EASTERLY RIGHT OF WAY LINE OF THE S P & S RAILROAD RIGHT OF WAY WHICH BEARS S12047'31 "W, 200.84 FEET FROM THE 518" IRON ROD WITH A YELLOW PLASTIC CAP INSCRIBED "KC DEVELOPMENT" MARKING THE INTERSECTION OF THE WESTERLY EXTENSION OF THE NORTH LINE OF LOT 35, FANNO CREEK ACRE TRACTS, WITH SAID EASTERLY RAILROAD RIGHT OF WAY LINE; THENCE LEAVING SAID RIGHT OF WAY LINE, S72055'45 "E, 10.32 FEET; THENCE S17004'15 "W, 11.56 FEET; THENCE S72o55'45 "E, 124.50 FEET; THENCE N17004'15 "E, 36.64 FEET; THENCE S72055'45 "E, 109.69 FEET; THENCE N64023'17 "E, 9.62 FEET; THENCE S72o55'45 "E, 43.10 FEET; THENCE N71025'40 "E, 74.00 FEET; THENCE S43o27'21 "E, 142.05 FEET; THENCE N48o00'29 "E, 42.92 FEET; THENCE S43o28'12 "E, 24.76 FEET; THENCE N46028'58 "E, 52.20 FEET; THENCE S43031'02 "E, 13.82 FEET; THENCE ALONG A LINE PARALLEL WITH AND 52.00 FEET DISTANT AND NORTHWESTERLY FROM THE CENTERLINE OF S.W. UPPER BOONES FERRY ROAD, S48041'42 "W, 438.99 FEET; THENCE CONTINUING ALONG SAID PARALLEL LINE, S49019'55 "W, 21.58 FEET TO THE CENTERLINE OF VACATED S.W. FANNO CREEK PLACE: THENCE ALONG SAID LINE, N44o57'03 "W, 381.99 FEET TO THE EASTERLY RIGHT OF WAY LINE OF THE S P & S RAILROAD RIGHT OF WAY AT A POINT OF" NON - TANGENT CURVATURE; THENCE ALONG THE ARC OF A 1457.70 FOOT RADIUS CURVE CONCAVE TO THE NORTHWEST, THROUGH A CENTRAL ANGLE OF 9039'32" (CHORD BEARS N21034'18 "E, 245.45 FEET) A DISTANCE OF 245.74 FEET TO THE POINT OF BEGINNING. PARCEL II: INTENTIONALLY OMITTED PARCEL III: EASEMENTS CONTAINED IN DRAINAGE EASEMENT AGREEMENT DATED OCTOBER 30, 2006, RECORDED OCTOBER 30, 2006 AS FEE NO. 2006 - 128781, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO MAINTAIN DEED OF TRUST Loan No. 4173 (Continued) Page 2 THE DRAINAGE LINE WITHOUT FORCED REMOVAL OR ALTERATION OF SAID LINE RUNNING FROM SAID DRAINAGE EASEMENT TO THE LAND DESCRIBED AS PARCEL 1. PARCEL IV: EASEMENTS CONTAINED IN DRIVEWAY AND ACCESS EASEMENT AGREEMENT DATED OCTOBER 30, 2006, RECORDED OCTOBER 30, 2006, AS FEE NO. 2006 - 128782, PARCEL V: THOSE RIGHTS SET FORTH IN THAT CERTAIN 'DECLARATION OF RECIPROCAL EASEMENTS, COVENANTS, CONDITIONS AND RESTRICTIONS FOR FANNO CREEK PLACE' RECORDED JULY 25, 2007 AS FEE NO. 2007 - 081680. THE LEGAL DESCRIPTION WAS CREATED PRIOR TO JANUARY 01, 2008. The Real Property or its address is commonly known as 16083 SW Upper Boones Ferry Road, Tigard, OR 97224. The Real Property tax identification number is R513153. 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, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF GRANTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN GRANTOR AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER 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 197.352. 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 APPROVED USES, 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 197.352. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Grantor authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Grantor or to any other person. The representations and warranties contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or interest in the Property, whether or not the same was or should have been known to Grantor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise. 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. Construction Loan. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete construction of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note (or such earlier date as Lender may reasonably establish) and Grantor shall pay in full all costs and expenses in connection with the work. Lender will disburse loan proceeds DEED OF TRUST Loan No. 4173 (Continued) Page 3 under such terms and conditions as Lender may deem reasonably necessary to insure that the interest created by this Deed of Trust shall have priority over all possible liens, including those of material suppliers and workmen. Lender may require, among other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of liens, construction progress reports, and such other documentation as Lender may reasonably request. 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 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 fair value 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 ten (10) 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 Director of the Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is located in a special flood hazard area, 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. 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. TAX AND INSURANCE RESERVES. Subject to any limitations set by applicable law, Lender may require Grantor to maintain with Lender reserves for payment of annual taxes, assessments, and insurance premiums, which reserves shall be created by advance payment or monthly payments of a sum estimated by Lender to be sufficient to produce, amounts at least equal to the taxes, assessments, and insurance premiums to be paid. The reserve funds shall be held by Lender as a general deposit from Grantor, which Lender may satisfy by payment of the taxes, assessments, and insurance premiums required to be paid by Grantor as they become due. Lender shall have the right to draw upon the reserve funds to pay such items, and Lender shall not be required to determine the validity or accuracy of any item before paying it. Nothing in the Deed of Trust shall be construed as requiring Lender to advance other monies for such purposes, and Lender shall not incur any liability for anything it may do or omit to do with respect to the reserve account. Subject to any limitations set by applicable law, if the reserve funds disclose a shortage or deficiency, Grantor shall pay such shortage or deficiency as required by Lender. Ali amounts in the reserve account are hereby pledged to further secure the Indebtedness, and Lender is hereby authorized to withdraw and apply such amounts on the Indebtedness upon the occurrence of an Event of Default. Lender shall not be required to pay any interest or earnings on the reserve funds unless required by law or agreed to by Lender in writing. Lender does not hold the reserve funds in trust for Grantor, and Lender is not Grantor's agent for payment of the taxes and assessments required to be paid by Grantor. 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 ail 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 DEED OF TRUST Loan No. 4173 (Continued) Page 4 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: 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 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 filed, 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. 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 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 o` Trust: Payment Default. Grantor fails to make any payment under the Indebtedness within 15 days of the due date. 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, DEED OF TRUST Loan No. 4173 (Continued) Pa V e 5 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 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 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 Collateralization. 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. 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 receiving written notice from Lender demanding cure of such default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more than fifteen (15) 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 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 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 seasonable 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 DEED OF TRUST Loan No. 4173 (Continued) Page 6 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. ADDITIONAL DEFINITIONS. Terms not otherwise defined in this document shall have the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in lawful money of the United States of America. APPRAISAL PROVISION. Grantor agrees to pay the cost of all appraisals and appraisal reviews, if required by Lender, on the Real Property required by Lender in its sole discretion (a) to comply with (1) any applicable statute or regulations or (II) the request or directive (whether or not having the force of law) of any regulatory authority with jurisdiction over Lender, or (b) at any time after the occurrence of any event of default. All such appraisal costs shall become a part of the indebtedness secured hereby and payable on demand, TOGETHER WITH INTEREST at the highest rate applicable to any such indebtedness. COUNTERPARTS - FACSIMILE SIGNATURES. This Agreement may be signed in any number of counterparts, each of which will be deemed to be an original, and all of which, taken together will constitute one and the same contract. The parties will accept a signed counterpart of this Agreement transmitted by facsimile machine as though it were an original document; provided, however, that each party so transmitting a document will be obligated to deliver the manually signed original via overnight delivery service. ORAL DISCLOSURE. ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. ADDITIONAL RESERVES. Subject to any limitations set by applicable law, if the reserve funds required by the Tax and Insurance Reserves section of this Deed of Trust disclose a shortage or deficiency, Grantor shall pay such shortage or deficiency as required by Lender. OREGON ORAL DISCLOSURE. UNDER OREGON LAW, MOST AGREEMENTS, PROMISES, AND COMMITMENTS MADE BY LENDER AFTER OCTOBER 3, 1989, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES OR SECURED SOLEY BY THE BORROWER'S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY LENDER TO BE ENFORCEABLE. 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. Governing Law. With respect to procedural matters related to the perfection and enforcement of Lender's rights against the Property, this Deed of Trust will be governed by federal law applicable to Lender and to the extent not preempted by federal law, the laws of the State of Oregon. In all other respects, this Deed of Trust will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of the State of Washington without regard to Its conflicts of law provisions. However, if there ever is a question about whether any provision of this Deed of Trust Is valid or enforceable, the provision that Is questioned will be governed by whichever state or federal law would find the provision to be valid and enforceable. The loan transaction that is evidenced by the Note and this Deed of Trust has been applied for, considered, approved and made, and all necessary loan documents have been accepted by Lender in the State of Washington. Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Clark County, State of Washington. 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. DEED OF TRUST Loan No. 4173 (Continued) Page 7 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 FIRST INDEPENDENT BANK, and its successors and assigns. Borrower. The word "Borrower" means G &S FC, LLC, an Oregon limited liability company 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 ". Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ( "CERCLA "), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 99 -499 ( "SARA "), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto or intended to protect human health or the environment. 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 G &S FC, LLC, an Oregon limited liability company. 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. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum, including crude oil and any fraction thereof and asbestos. 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 FIRST INDEPENDENT BANK, its successors and assigns. Note. The word "Note" means the promissory note dated May 7, 2008, in the original principal amount of $10,285,000.00 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 May 1, 2013. 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. 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 UPF Incorporated, a Washington corporation, whose address is 910 W. Boone Ave., Spokane, WA 99201 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: G &S FC, LLC, AN OREGON LIMITED LIABILITY COMPANY G &S INTERNATIONAL, L.L.C., AN OREGON LIMITED LIABILITY COMPANY, Member of G &S FC, LLC, an Oregon limited liability company Gun W Park, Managing ember of G &S Interna nal, L.L.C., an Oreg n limited liability comp DEED OF TRUST Loan No. 4173 (Continued) Page 8 LIMITED LIABILITY COMPANY ACKNOWLEDGMENT STATE OF ) SS COUNTY OF On this / Z ?/ day of 20 before me, the undersigned Notary Public, personally appeared Gun Bo Park, Manager of G &S Internatio , L.L.C., an Oregon limited liability company, Member of G &S FC, LLC, an Oregon limited liability company, 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 is authorized to execute this Dee of Trust W in fact a uted the Deed of Trust on behalf of the limited liability compan . By Residing at Notar Public in and for the State My commission expires of �� u OFFICIAL SEAL M KIMBALL NOTARY PUBLIC- OREGON COMMISSIM p; . 388498 W COMM ISSInN (:XPIhr"S NIAR. 9, 2009 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: LASER PRO Lending, Ver. 5.40.00.003 Copr. Harland Financial Solutions, Inc. 1997, 2008. All Rights Reserved. - OR/WA W: \HARLAND \CFI \LPL \G01.FC TR -4528 PR -111 (M) I