MMD2015-00029 MMD2015 - 00029
WYIM , LLC
NOTICE OF TYPE I DECISION
MINOR MODIFICATION (MMD) 2015-00029 1
WYIM, LLC
120 DAYS = December 16, 2015
SECTION I. APPLICATION SUMMARY
FILE NAME: WYIM,LLC
CASE NO.: Minor Modification(MMD) MMD2015-00029
PROPOSAL: The applicant proposes to add 760 square feet to an existing 1,362-square-foot
commercial building,located at 11795 SW Greenburg Road.
APPLICANT: Michelle and Sean Croghan
WYIM,LLC
11795 SW Greenburg Road
Tigard,OR 97223
OWNER: Same as applicant
LOCATION: 11795 SW Greenburg Road
WCTM 1S135DC,Tax Lot 400
ZONING
DESIGNATION: C-P: Professional/Administrative Commercial District. The C-P zoning district
is designed to accommodate civic and business/professional services and
compatible support services, e.g., convenience retail and personal services,
restaurants, in close proximity to residential areas and major transportation
facilities. Within the Tigard Triangle and Bull Mountain Road District,
residential uses at a minimum density of 32 units/net acre,i.e., equivalent to the
R-40 zoning district, are permitted in conjunction with a commercial
development. Heliports, medical centers, religious institutions and utilities are
permitted conditionally. Developments in the C-P zoning district are intended
to serve as a buffer between residential areas and more-intensive commercial
and industrial areas.
APPLICABLE
REVIEW
CRITERIA: Community Development Code Chapters 18.360.060.0
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.
Mbill2015-00029 WYIM,LLC 1
THIS APPROVAL SHALL BE VALID FOR 18 MONTHS
FROM THE EFFECTIVE DATE OF THIS DECISION.
SECTION III. BACKGROUND INFORMATION
Site Information:
The project is located at 11795 SW Greenburg Road; north of Highway 99W, southwest of SW
Greenburg Road, and east of SW Lincoln Avenue. The 0.26-acre subject site is made up of one parcel,
and contains an existing 1,362-square-foot commercial building, 10 parking spaces, and 4,170 square
feet of landscaping.The site is zoned Professional/Administrative Commercial (C-P).
Proposal Description:
The applicant proposes to add 760 square feet to an existing 1,362-square-foot commercial building,
located at 11795 SW Greenburg Road.
SECTION IV. APPLICABLE REVIEW CRITERIA AND FINDINGS
MINOR MODIFICATION OF SITE DEVELOPMENT REVIEW:
Section 18.360.060.0 states that a Minor Modification shall be approved, approved with
conditions or denied following the Director's review and as follows:
1. The proposed development is in compliance with all applicable requirements of this
title; and
The applicant proposes to add 760 square feet to an existing 1,362-square-foot commercial building,
located at 11795 SW Greenburg Road. As a result of this proposal, total on-site landscaping will be
reduced from 4,170 square feet to 3,850 square feet. Based on the applicant's narrative and submitted
site plan, staff finds the proposal meets all development standards for the C-P zone (as illustrated in the
table below). In particular, the applicant's proposal meets all minimum setback requirements, and
continues to exceed the minimum landscape requirement for the C-P zone, even after the proposed
320-square-foot landscaping reduction.
TABLE 18.520.2
COMMERCIAL DEVELOPMENT STANDARDS
Standard C-P Zone Subject Site
Minimum Lot Size 6,000 square feet 11,326 square feet
— Detached Unit — -
- Boarding,lodging, rooming house — —
Mini num Lot Width 50 feet 75 feet
Minimum Setbacks
— Front yard 0 feet* 15 feet,2 inches
— Side yard 0/20 feet** 9 feet/14 feet
— Rear yard 0/20 feet** 89 feet
Minimum Building Height N/A N/A
Maximum Building Height 45 feet 14 feet, 5 inches
Maximum Site Coverage 85% 66%
Minimum Landscape Requirement 15% 34%
*There shall be no minimum front yard setback requirement;however,conditions in Chapters 18.745 and
18.795 must be met.
**No setback shall be required except 20 feet shall be required where the zone abuts a residential zoning
district.
\1R1D2015-00029 WTIM,LLC 2
Additionally, staff reviewed the applicant's materials to ensure the minimum off-street vehicle parking
requirement is met. City records indicate the existing use is an office. Accordingly, staff finds 6 spaces
are required for the site, taking into consideration the 760-square-foot addition discussed above. Based
on the applicant's submitted site plan, staff concludes there is adequate off-street parking, with 10
spaces provided.
Upon review of the applicant's plans and narrative, staff finds that all other applicable requirements are
met.This criterion is met.
2. The modification is not a major modification.
FINDING: Staff finds that the changes listed in TDC 18.360.050.B.1-11 are either satisfied or do
not apply. Therefore,the proposed development is not a major modification.This criterion is met.
CONCLUSION: The proposal is a Minor Modification of existing site development and is in
compliance with the applicable requirements of this Title.
SECTION V. PROCEDURE AND APPEAL INFORMATION
Notice:
Notice was posted at City Hall and mailed to:
X The applicant and owners
X Affected government agencies
Final Decision:
A Minor Modification is a Type I procedure. As such, the Director's decision is final on the date it is
mailed or otherwise provided to the applicant,whichever occurs first. The Director's decision may not
be appealed locally and is the final decision of the City.
E:
THIS DECISION IS FINAL ON AUGUST 19, 2015
AND BECOMES EFFECTIVE ON AUGUST 20, 2015
Questions:
If you have any questions,please contact Lina Smith at (503) 718-2438 or LinaCSna.tigard-or.gov.
^—� August 19,2015
APPROVED BY: Lina Smith
Assistant Planner
4In1D2015-00029 W)T%1,LLC 3
APPLICANT
MATERIALS
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_ COMMUNITY DEVELOPMENT DEPARTMENT C13A13038 13038
Minor Modification Type I Application
PROPOSAL SUMMARY (Brief description)
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144'er s Signature/Written
Authorization
Title Transfer Instrument or Deed
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Plan(2 large plans drawn to scale
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Property address/location(s): 1/7q 5 S LtJ Cvpz�, !� T �, [�/PPlicant's Statement/Narrative
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Tax map and tax lot #(s): l S13 5 0G ooq 0O Filing Fee
Site size:
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Phone:S-0 �yy-�s Email: t"�.. r .,CPt7'�w- C Application Fee:
Application accepted:
B}':�' L� Date: � /�3 I I S
PROPERTY OWNER/DEED HOLDER(S)* ElSame as Applii;�"-rmpplication
sg�✓✓ �,�,KG/ /�(_j't,{ir�� :1 determined complete:Name: F _ G�"04; //
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*When the owner and the applicant are different people,the applicant must be the purchaser of record or a lessee in
possession with written authorization from the owner or an agent of the owner.The owner(s)must sign this application
in the space provided on the back of this form or submit a written authorization with this application.
APPLICANT'S STATEMENT
The applicant's statement must include a summary of the proposed changes. Criteria in either 18.360.050(B)or
18.330.020(13)(2)must be addressed with a detailed response to each criterion. Failure to provide the information needed to
process the application would be reason to consider an application incomplete and delay review of the proposal.
In addition, the Director must find that the proposed change is in compliance with all applicable requirements of Title 18 of
the Tigard Development Code. To complete this review,the Applicant's proposal must include a discussion indicating how the
site expansion/change will continue to comply with the maximum setback,building height,parking,and landscaping standards.
Other requirements of this title such as clear vision,solid waste storage,non-conforming situations, signs,and tree removal
may also be applicable depending on the type and location of the proposed modifications.
City of Tigard e 13125 SW Hall Blvd. a Tigard,Oregon 97223 a www.tigard-or.gov a 503-718-2421 e Page 1 of 2
APPLICANTS
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.
THE APPLICANTS) SHALL CERTIFY THAT:
• The above request does not violate any deed restrictions that may be attached to or imposed upon the subject propcM.
• If the application is granted,the applicant will exercise the rights granted in accordance with the terms and subject to all the
conditions and limitations of the approval.
• All of the above statements and the statements in the plot plan,attachments,and exhibits transmitted herewith,are true;and
the applicants so acknowledge that any permit issued,based on this application,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 oxmof the subject property required.
/3 2013'
pplic s ature Print name Date
wner's sigtf re Print name Date
Owner's signature Print name Date
ADDITIONAL OWNER/DEED HOLDER INFORMATION
Name: Name:
Address: Address:
City/state: Zip: City/state: Zip:
Signature: Signature:
MINOR MODIFICATION APPLICATION
City of Tigard • 13125 SW Hall Blvd. • Tigard,Oregon 97223 • wwwtigard-or.gov 503-718-2421 • Page 2 of 2
RECORDATION REQUESTED BY: RECEIVED
Pacific Continental Bank
Oregon Loan Operations AUG 13 2015
PO Box 10727
Eugene,OR 97440 CITY OF TIGARD
WHEN RECORDED MAIL TO: PLANNING/ENGINEERING
Pacific Continental Bank
Oregon Loan Operations
PO Box 10727
Eugene,OR 97440
SEND TAX NOTICES TO:
WYIM,LLC
11795 SW Greenburg Road
Tigard OR 97223 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
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000000000024818023540105192014'
LINE OF CREDIT INSTRUMENT
LINE OF CREDIT DEED OF TRUST. (A) This Deed of Trust is a LINE OF CREDIT INSTRUMENT. (B) The maximum principal amount to be
advanced pursuant to the Note is $260,000.00. (C) The term of the Note commences on the date of this Deed of Trust and ends on June 1,
2024.
THIS DEED OF TRUST is dated May 19, 2014, among WYIM, LLC, an Oregon Limited Liability Company, whose
address is 11795 SW Greenburg Road, Tigard, OR 97223 ("Grantor"); Pacific Continental Bank, whose address is
Oregon Loan Operations, PO Box 10727, Eugene, OR 97440 (referred to below sometimes as "Lender" and
sometimes as "Beneficiary"); and Brad L. Williams, an Oregon Attorney, whose address is c/o UPF, 12410 E.
Mirabeau Parkway, Suite 100, Spokane Valley, WA 99216 (referred to below as "Trustee").
Conveyance and Grant. For valuable consideration, represented in the Note dated May 19, 2014, in the original principal amount of
$260,000.00,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, includingwithout limitation all minerals, oil, gas,
geothermal and similar matters,(the"Real Property") located in Washington County, tate 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 11795 SW Greenburg Road, Tigard, OR 97223. The Real
Property tax identification number is R276285.
Cross-Collateralizatlon. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus inierest Ilrereon, of
Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now
existing or hereafter arising, whether related or unrelated to the purpose of the Note,whether voluntary or otherwise,whether due or not
due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable
individually or jointiy with others,whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon
such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may
be or hereafter may become otherwise unenforceable.
Future Advances. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Grantor whether or not the
advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in additlon to the amounts
specifed in the Note,all future amounts Lender in its discretion may loan to Grantor,together with all interest thereon.
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 (1) PAYMENT OF THE INDEBTEDNESS AND (2) 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. Granto,agrees that Grantor's possession and use of the Property shall be governed by the
following provisions:
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DEED OF TRUST
Loan No: 24818 (Continued) Page 2
Possession and Use. Until the occurrence of an Event of Default, Grantor may (a) remain in possession and control of the Property;
(b) use, operate or manage the Property; and (c) 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
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.
Compliance With Environmental Laws. Grantor represents and warrants to Lender that (a) 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; (b) Grantor has no knowledge of, or reason to believe
that there has been, except as previously disclosed to and acknowledged by Lender in writing, (i) any breach or violation of any
Environmental Laws, (ii) any use, generation, manufacture, storage, treatment, disposal, release or threatered release of any
Hazardous Substance on, under,about or from the Property by any prior owners or occupants of the Property, or (iii) any actual or
threatened litigation or claims of any kind by any person relating to such matters; and (c) Except as previously disclosed to and
acknowledged by Lender in writing, (i) neither Grantor nor any tenant,contractor,agent or other authorized user of the Property sha!I
use,generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property; and
(ii) 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. Graetor 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 (a)
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 (b) 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
Lenders prior written consent.
Remova! of Improvements. Grantor steal! 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 Lenders 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 Lenders 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 Lenders option,declare immediately due and payable all sums secured by this Deed of
Trust upon the sale or transfer, without Lenders 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
IIIIVII IIIIIVIII�IIVI111111Ui1lVIlIIIhNllllli�llllh�IVI�IIII�IVI��111'llllll�l{�V�IV VIl
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DEED OF TRUST
Loan No: 24818 (Continued) Page 3
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 Propery 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 Ven 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.
Nodes of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are
fumished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's Igen, or other lien could be asserted on
account of the work, services, or materials and the cost exceeds$10,000.00. 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 sha!I 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 feast
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 Administrator 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 if the estimated cost of repair or
replacement exceeds $10.000.00. 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, shalt 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.
Grantors Report on Insurance. Upon request of Lender, however not more than once a year. Grantor shall fumish to Lender a report
on each existing policy of Insurance showing: (a) the name of the insurer, (b) the risks insured; (c) the amount of the policy; (d)
the property insured, the then current replacement value of such property, and the manner of determining that value; and (e) 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.
Lenders Expenditures. If any action or proceeding is commenced that would materially affect Lenders interest in the Property or if Grantor
falls to comply with any provision of this Deed of Trust or any Related Documents: including but not limited to Grantors failure to discharge
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000000000024818023540405192014'
DEED OF TRUST
Loan No: 24818 (Continued) Page 4
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 (1) be payable on demand; (2) be added to the balance of
the Note and be apportioned among and be payable with any installment payments to become due during either (a) the term of any
applicable insurance policy;or (b) the remaining term of the Note;or (3) 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 exaense. 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 govemmental authorities.
Survival of Representatlons 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, sha l 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 flied, 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 conneciion 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: (a) 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; (b) 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; (c) a tax on this type of Deed of Trust
chargeable against the Lender or the holder of the Note; and (d) 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 (a) pays the tax before it becomes delinquent, or (b) 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 shag 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
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DEED OF TRUST
Loan No: 24818 (Continued) Page 5
Trust as a financing statement. Grantor shall reimburse Lender for all experses 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 permi!ted 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 (a) Grantor's obligations under the Note, this Deed of Trust, and the Related
Documents, and (b) 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-Fad. 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,including without limitation all future advances,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 woth o.perform when due any term,obligation,covenant or r:nnditinn rontained
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 Grantors ability to perform Grantor's 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
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DEED OF TRUST
Loan No: 24818 (Continued) Page 6
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.
lnsecurlty. 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: (a) cures the default within fifteen(15)days,or (b) 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 a!I 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 Take 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 (a) pay a reasonable rental for the use of the Property,or
(b) 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 mear.
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
000000000024818023540705192014'
DEED OF TRUST
Loan No: 24818 (Continued) Page 7
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 attomeys' 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 shali 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 shal.l
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 Lenders option, may from time to time appoint a successor Trustee to any Trustee appointed under
this Dead 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 shalt 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 substltution of Trustee shall govem 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 nationalry recognized ovemight courier, or, if mailed, when deposited in the United States mall, 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 noUce 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 Grantors residence, Grantor shall furnish to Lender, upon request,a
certified statement of net operating income received from the Property during Grantors 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. 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 without regard to Its conflicts of law provisions. This Deed of Trust has been accepted by Lender
In the State of Oregon.
Choice of Venue. If there is a lawsuit,Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Lane 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 Grantors
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DEED OF TRUST
Loan No: 24818 (Continued) Page 8
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.
Severablllty. 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 Pacific Continental Bank,and its successors and assigns.
Borrower. The word "Borrower" means WYIM, 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 Line of Credit instrument 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 tided"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. 99-199("SARA"),the Hazardous Materials Transportation Act,49 U.S.C. Section 1801, at
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 adapted 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 WYIM,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 ail 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, d;sposed 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 Grantors obligations under this Deed of Trust,together with interest on such amounts as provided in this
Deed of Trust. Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision,
together with all Interest thereon and all amounts that may be indirectly secured by the Cross-Collateralization provision of this Deed of
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DEED OF TRUST
Loan No: 24818 (Continued) Page 9
Trust.
Lender. The word"Lender"means Pacific Continental Bank, its successors and assigns.
Note. The word"Note"means the promissory note dated May 19, 2014, in the original principal amount of$260,000.00
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 June 1,2024.
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 prem ums)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 descrbed in this Deed of Trust.
Related Documents. The words "Related Documents' mean a!I 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 Brad L. Williams, an Oregon Attorney, whose address is c/o UPF, 12410 E. Mirabeau Parkway,
Suite 100,Spokane Valley,WA 99216 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:
WYIM,LLC
By: By:
can . Cr anager of WYIM,LLC is a le .Croghan,Manager of JLC
LIMITED LIABILITY COMPANY ACKNOWLEDGM T
STATE OF )
)SS
COUNTY OF �U 1
On this day of 20�� before me, the undersigned Notary Public, personally
appeared Sean T.Croghan, Manager of WYIM, LLC, an nown to me to oe a member or designated age t 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 organlzaJon or Its operating agreement, for the uses and purposes therein mentioned,and on oath stated that
he or she is authorized90 execute this Deed of Trust and In fact executed the Deed of Trust onbehalfof the limited liability company.
By \ Residing at Ly d k�—' (_
Notary Public In and for the State of ��L-- My commission expires � '— L, Z C� 1
OFFICIAL SEAL
LORI E MEDAK
NOTARY PUBLIC-OREGON
COMMISSION NO.463313
MY OMMISSION EXPIRES NOVEMBER 15,2015
11111111H1111111111111111111111
000000000024818023541005192014•
DEED OF TRUST
Loan No: 24818 (Continued) Page 10
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
STATE OF 1
.� 9� OFFICIAL SEAL
)SS LORI E ME AK
COUNTY OF �� �" 1 NOTARY PUBLIC-OREGON
90MMISSION NO.463313
EXPIR
2-c
�r
111MM ES NOVEMBER 15,2015
On this (-c day of
appeared Michelle L. Croghan, Manager of WYIM, LLC, ana 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 authonty 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 authecute this Deed of Trust and in fact executed the Deed of Trust on behalf of the limited liability company.
By — Residing at LQ- � ----
Notary Public in and for the State of _ My commission expires
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. 14.2.0.021 Copr. D+H USA Corporation 1997, 2014. All Rights Reserved. -OR c71CFI1LPL1GOI.FC TR-21574
PR-GEnICOMWL.
OFFICIAL SEAL
LORI E MEDAK
NOTARY PUBLIC-OREGON
COMMISSION NO.463313
MY COMMISSION EXPIRES NOVEMBER 15,2015
EXHIBIT "A"
Part of Lot 8, TIGARDVILLE PARK, in the City of Tigard, County of Washington and State of Oregon, more
particularly described as follows.
Beginning at the Northeast corner of said Lot 8, in the center of Greenburg Road; thence South 39°18'West 180
feet; thence North 50042' West 75 feet; thence North 39018' East 180 feet to the center line of Greenburg Road;
thence South 50042' East along said center line 75 feet to the point of beginning.
EXCEPTING THEREFROM the part thereof lying in Greenburg Road.
RECORDATION REQUESTED BY:
Pacific Continental Bank
Oregon Loan Operations
PO Box 10727
Eugene,OR 97440
WHEN RECORDED MAIL TO:
Pacific Continental Bank
Oregon Loan Operations
PO Box 10727
Eugene,OR 97440
SEND TAX NOTICES TO:
WYIM, LLC
11795 SW Greenburg Road
Tigard, OR 9722 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
000000000024818009040105192014'
ASSIGNMENT OF RENTS
THIS ASSIGNMENT OF RENTS dated May 19, 2014, is made and executed between WYIM, LLC, an Oregon
Limited Liability Company, whose address is 11795 SW Greenburg Road, Tigard, OR 97223 (referred to below as
"Grantor") and Pacific Continental Bank, whose address Is PO Box 10727, Eugene, OR 97440 (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 11795 SW Greenburg Road, Tigard, OR 97223. The Property
tax identification number is R276285.
CROSS-COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities, plus interest thereon, of
Grantor to Lender, or any one or more of them, as well as al; claims by Larder against Grantor or any one or more of them, whether now
existing or hereafter arising,whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due,
direct or indirect, determined or undetermined, absolute orcontingent, liquidated or unliquidated, whether Grantor may be liable individually or
jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may
be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may
become otherwise unenforceable.
FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Grantor whether or not the
advances are made pursuant to a commitment. Specifically,without limitation,this Assignment secures, in addition to the amounts specified in
the Note,all future amounts Lender in Its discretion may loan to Grantor,together with all interest thereon
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 shalt 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 dear of ail 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 Asslgnment
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
000000000024818009040205192014"
ASSIGNMENT OF RENTS
Loan No: 24818 (Continued) Page 2
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.
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 alt 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
benalf 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 dernand; (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 Lander 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 farm, 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.
illiII�I�I 11111 IN 11111 P!loll 199 11
ODOOOO000024818009040305192014-
ASSIGNMENT OF RENTS
Loan No: 24818 (Continued) Page 3
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 val;d 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 ary 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 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 p•ospect of paymerl 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 fi`teen (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. 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 0-ie cost of the recaivership, against the Indebtedness. The receiver may serve without
bond if permitted by law. Lenders 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 shalt 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 attomeys'tees 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 entre 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.
000000000024818009040405192014•
ASSIGNMENT OF RENTS
Loan No: 24818 (Continued) Page 4
Caption Headings. Caption headings in this Assignmert are for convenience purposes only and are not to be used to interpret or define the
provisions of this Assignment.
Governing Law. This Assignment 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 without regard to Its conflicts of taw provisions. This Assignment has been accepted by Lender in the State of
Oregon.
Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Lane 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 obligatlons of each Grantor are joint and several. This means that if Lender brings a lawsuit, 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 Lenders 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 Lenders 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 wrifing, 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 mall 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 glving 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 succassors and assigns. if ormership,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 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 ail exhibits and schedules attached to this ASSIGNMENT OF RENTS from time to time.
Borrower. The word"Borrower'means WYIM, LLC.
�IIIINII�IIII�ll�1NNI111N�11�
'OOOOOQOD0024818009040505192014•
ASSIGNMENT OF RENTS
Loan No: 24818 (Continued) Page 5
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 n this Assignmert in the default section of this
Assignment.
Grantor. The word"Grantor" means WYIM,LLC.
Guarantor. The word"Guarantor"means any guarantor,surely,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 Grantors 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. Specifically,
without limitation. Indebtedness includes the future advances set forth in the Future Advances provision,together with all interest thereon
and all amounts that may be indirectly secured by the Cross-Collateralization provision of this Assignment.
Lender. The word"Lender'means Pacific Continental Bank, its successors and assigns.
Note. The word"Note"means the promissory note dated May 19, 2014, in the original Principal amount Of$260,000.00 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 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 MAY 19,2014.
GRANTOR:
WYIM,
(:
ea ro Manager of WYIM,LLC By. ich elle V.CrotFan, Manajer o LL
•000000000024818009040e05192014-
ASSIGNMENT OF RENTS
Loan No: 24818 (Continued) Page 6
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
STATE OF D� ) OFFICIAL SEAL
LORI E MEDA]15.2015 r, )SS r NOTARY PUSUC-ORE
COUNTY OF ) COMMIi81ON NO.46
My So EXPIRES NOVEMB
1
On this 2 day of v~ � 20 before me,the undersigned Notary Public, personally
appeared Sean T.Croghan, Manager of VVYIM, LLC, an nown 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 on
oath stated that he or she is authorized to execute this Assignment and in fact executed the Assignment on behalf of the limited liability
company.
By Residing at ��
Notary Public in and for the State of 0 "" My commission expires 2-C) IL
'V
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
STATE OF �'� ) OFFICIAL SEAL
)SS LORI E MEDAK
j NOTARY PUBLIC-OREGON
COUNTY OF ) COMMISSION NO.463313
` MY COMMISSION EXPIRES NOVEMBER 15,2015
On this 2/ day of� 20 i� before me,the undersigned Notary Public,personally
appeared Michelle L. Croghan, Manager of VNYIM, LLC, nd known to me to be a member or designa,.ed 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 mentoned, and on
oath stated that he or she is authorized to execute this Assignment and in fact executed the Assignment on behalf of the limited liability
company.
By Residing at Lb C5
Notary Public in and for the State of—_____ My commission expires � I
LASER PRO Lending,Ver. 14.2.0.021 Copr. D+H USA Corporation 1997, 2014. All Rights Reserved. - OR c:\CFI\LPL\G14.FC TR-21574
PR-GENCOMML
EXHIBIT "A"
Part of Lot 8, TIGARDVILLE PARK, in the City of Tigard, County of Washington and State of Oregon, more
particularly described as follows:
Beginning at the Northeast corner of said Lot 8, in the center of Greenburg Road, thence South 39°18'West 180
feet; thence North 50°42'West 75 feet; thence North 39°18' East 180 feet to the center line of Greenburg Road;
thence South 50°42' East along said center line 75 feet to the point of beginning.
EXCEPTING THEREFROM the part thereof lying in Greenburg Road.
RECEIVED
SW Greenburg Road AUG 13 2015
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ADJASite Plan
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PROPERTY
Initials:
RECEIVED
Constructive Form 1222 SW Broadway
Portland OR 97205 AUG 13 2015
Architecture and Design LLC T:503.894.9638
E:info@constructiveform.com CITY OF TIGARD
PLANNING/ENGINEERING
August 2015
WYIM Building
Project Site: 11795 SW Greenburg Road, Tigard
Zoning: C-P
Project: Commercial Addition and TI Renovation
Description:
Existing office uses in a single story 1,362 square foot commercial building,with a proposed single story 760
square foot addition.
Owners:
Michelle Croghan, Ruby Red Bookkeeping Inc
Sean Croghan,XAG Solutions
11795 SW Greenburg Road
Tigard,OR 97223
503.572.9569
To: City of Tigard
Ref-: Minor_Modification-Type _1
3 copies of the site plan for the proposed project are submitted in conjunction with the evaluation criteria responses below.
Narrative responses to 18.360.050.8 Evaluation Criteria:
1. Not Applicable- the project is not a residential development.
2. Not Applicable the project is not a residential development.
3. No additional on-site parking required.
Minimum off street parking for Commercial Office is 2.7 per 1,000 square feet (M);with the proposed addition the building
will be a total of 2,122 square feet = 6 spaces required (for 3,000 square feet). Existing I Oparking spaces meets this
criteria.
4. Change of building type both the existing and new construction are classified as Type VB;there is no change in
structural type.
5. Height increase -new construction meets the 20% increase allowable;existing building is 12'-0"from finish floor to top of
parapet,the new addition is 14'-5"from finish floor to top of parapet (120%of existing).
WYIM Minor Modification-Type 1_August 2015 Page 1 of 2
6.There are no changes proposed to parking areas or existing driveway access.
7. There is no expectation of any major increase in vehicular traffic,and none that would lead to an excess of a 100 vehicles
per day;the professional office space will continue to be served by the existing 10 parking spaces (more than the minimum
off street parking requirement as noted in #3 above).
8. The proposed nonresidential expansion of 760 square feet meets the exclusion criteria by being less than 5,000 square
feet.
9. Not Applicable—the project is not required to have common open space. (see #10 below for reduction in landscape area
below the 10% limitation).
10. a. Not Applicable--the project is not required to have recreational facilities.
b. Existing screening is maintained.
c. 15%of the site area is currently required to be landscaped in the C-P zone;existing landscaped area is 4,170
square feet (37.1%of lot area),the proposed landscape area with new addition is 3,850 square (34.2%of lot
area).The 320 square foot difference is only a reduction of 7.7%.
11. None apply.
Sincerely,
Brent Hinrichs,Architect
WYIM Minor Modification—Type 1_August 2015 Page 2 of 2