MMD2015-00034 MMD2O15 - 00034
Charter Mechanical
NOTICE OF TYPE I DECISION
MINOR MODIFICATION (MMD) 2015-00034 151
CHARTER MECHANICAL
TIGARD
120 DAYS = February 24, 2016
SECTION I. APPLICATION SUMMARY
FILE NAME: Charter Mechanical
CASE NO.: Minor Modification (MMD) MMD2015-00034
PROPOSAL: The applicant proposes to add a freestanding metal shed adjacent to the southwest
corner of an existing industrial building, in order to enclose a stationary vacuum
system. The shed will be less than 120 square feet in size, and less than 10 feet in
height.
APPLICANT: Charter Mechanical APPLICANT'S CIDA,Inc.
Attn:Tom Switzer REPRESENTATIVE: Attn: Zachary Moran,RA
7940 SW Hunziker Road 15895 SW 72"d Avenue
Tigard,OR 97223 Suite 200
Portland,OR 97224
OWNER: Meritage Five,LLC
155 B Avenue
Suite 222
Lake Oswego,OR 97034
LOCATION: 7940 SW Hunziker Road
WCTM 2S101CA,Tax Lot 400
ZONING
DESIGNATION: I-L: Light Industrial District.The I-L zoning district provides appropriate
locations for general industrial uses including industrial service,manufacturing
and production,research and development,warehousing and freight movement,
and wholesale sales activities with few,if any,nuisance characteristics such as
noise,glare,odor,and vibration.
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.
MMll2015-00034 Charter Mechanical 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 7940 SW Hunziker Road; north of Potso Dog Park, south of SW Hunziker
Road, and west of SW Wall Street. The 4.67-acre site contains an approximately 88,000-square-foot
industrial building, 113 parking spaces,and associated landscaping. The site is zoned Light Industrial (I-
L), and is located in Sensitive Lands (Clean Water Services Vegetated Corridor, FEMA 100-Year
Floodplain,and Lower Value Habitat Areas).
In April 2013, the applicant was approved for an approximately 19,800-square-foot addition to an
existing 68,148-square-foot industrial building (SDR2013-00001). The applicant was also approved for
an adjustment to reduce the minimum off-street parking requirement by 20 percent (VAR2013-00001).
The site has not undergone any significant changes in land use since SDR2013-00001 and VAR2013-
00001.
Proposal Description:
The applicant proposes to add a freestanding metal shed adjacent to the southwest corner of an existing
industrial building, in order to enclose a stationary vacuum system. The shed will be less than 120
square feet in size,and less than 10 feet in height.
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 a freestanding metal shed adjacent to the southwest corner of an existing
industrial building, in order to enclose a stationary vacuum system. The subject site is located in
Sensitive Lands (Clean Water Services Vegetated Corridor, FEMA 100-Year Floodplain, and Lower
Value Habitat Areas), and is therefore subject to the standards outlined in TDC Chapter 18.775
Sensitive Lands.
The shed will be less than 120 square feet in size, and less than 10 feet in height. Although the entire
site is located in the three Sensitive Lands categories mentioned above, staff reviewed the applicant's
submitted site plan and city maps to confirm the proposed shed will be located in the FEMA 100-Year
Floodplain and Lower Value Habitat Areas, but not in the Clean Water Services Vegetated Corridor.
Accordingly, staff finds the proposed shed meets the criteria for an outright permitted use with no
Sensitive Lands permit required,based on the exemption described in TDC 18.775.020.B.8:
"Accessory structures which are less than 120 square feet in size; except in the floodway area; a
water quality sensitive area or vegetated corridor, as defined in the CWS `Design and Construction
Standards'; or the Statewide Goal 5 vegetated corridor established for the Tualatin River,as defined
in Section 18.775.090."
In addition, staff reviewed the applicant's site plan to determine the proposed shed meets the minimum
setback requirements for the I-L zone (TDC Table 18.530.2), and will not impact existing on-site
parking. Upon review of the applicant's plans and narrative, staff finds that all other applicable
requirements are met.This criterion is met.
MM1)2015-00034 Charter Nlechanical 2
2. The modification is not a major modification.
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.
THIS DECISION IS FINAL ON OCTOBER 28, 2015
AND BECOMES EFFECTIVE ON OCTOBER 29, 2015
Questions:
If you have any questions,please contact Lina Smith at (503) 718-2438 or LiilaCS a@tigard-or.gov.
October 28.2015
APPROVED BY: Lina Smith
Assistant Planner
\I.\II)2015-00034 Charter Mechanical 3
APPLICANT
MATERIALS
City of Tigard RECEIVED
COMMUNITY DEVELOPMENT DEPARTMENT OCT 2 2 2015
TIGARD Minor Modification Type I Appliceompo
P1 ANNINI-1 --NiPiii`,IFFRINI ,
PROPOSAL SUMMARY (Brief description) REQUIRED SUBMITTAL
Enclose stationary vacuum equipment with a freestanding metal ELEMENTS
shed. The shed will be no more than 120 sf in area and less 'Owner's Signature/Written
than 10 feet tall. ��Authorization
12 Title Transfer Instrument or Deed
p•Site Plan(2 large plans drawn to scale
and one reduced to 8.5"x11'/2")
Property address/location(s): 7940 SW Hunziker St. . Applicant's Statement/Narrative
(2 copies)Address criteria in:
Tigard, Oregon IDC 18.360.050.B.1-11
Tax map and tax lot #(s): Map: 2S101 CA Lot: 00400 sling Fee
Site size: 4.67 Acres (203,425 SF)
FOR STAFF USE ONLY
Applicant': CIDA Inc. Contact: Zachary Moran, RA Case No.: NI IN/1 000 3 1
Address: 15895 SW 72nd Ave. Suite 200
Portland, Oregon 97224 Related Case No.(s): --
City/state: 'Lip..
503.226.1670 zachm@cidainc.com Application Fee:
i
Phone: Email:
Application(accepted:
By: M Y Date: /4"-V 2 Z/ IS
PROPERTY OWNER/DEED HOLDER(S)• ❑ Same as Applicant
Name: Charter Mechanical Application..determined complete:
Address: 7940 SW Hunziker St. By: IS Date: /0/c7?1/:�
City/state: Tigard, Oregon /it,: 97223 I:\CURPLN\Masters\Land Use Applications Rev.11/24/2014
Contact name: Tom Switzer
Phone number: 503.854.4096
•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(B)(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.lb 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 • 13125 SW Hall Blvd. • Tigard,Oregon 97223 • www.tigard-or.gov • 503-718-2421 • Page 1 of 2
•
.1
APPLICANTS
To consider an application complete,you will need to submit ALL of the REQUIRED SUBMITTALELEMENTS as
described on the front of this application in the"Required Submittal Elements"box.
THE APPLICANT(S) SHALL CERTIFY THAT:
• The above request does not violate any deed restrictions that may be attached to or imposed upon the subject property
• If the application is granted, the applicant will exercise the rights granted in accordance with the terms and subject to all the
conditions and 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 each owner of the subject property required.
/_ Zachary Moran, RA /0/ z /-5
:.cant's . e Print name Date
r`al/ , r 14 GSL- i� � / C - /r
Owner sign. c 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
•
' y-
/ Washington County,Oregon 2012-079077
RECORDATION REQUESTED BY: D-M
Benner Bank Stn=11 C WHITE 09/21/2012 02:22:47 PM
Lake Oswego Commercial Banking Center $30.00$11.00$5.00$15.00 $61.00
412"A" Avenue, Suite 300 I,Richard Hobernicht,Director of Assessment and Taxation and Ex-
Lake Oswego,OR 97034 Officio County Clerk for Washington County,Oregon,do hereby
certify that the within Instrument of writing was received and
recorded in the book of records of said county.
WHEN RECORDED MAIL TO:
Banner Bank Richard Hobernlcht,Director of
Bothell Loan Service Center Assessment and Taxation,Ex-Officio
P.O. Box 1589 This is to certify that this is a TRUE and
Bothell,WA 98041 EXACT copy of the original documents.
SEND TAX NOTICES TO: FIDE TY NATION LL TITLE
Nleritage Five,LW
156 B Avenue, Suite 222
Lake Oswego, OR 97034 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
DEED OF TRUST
THIS DEED OF TRUST is dated September 11, 2012, among Meritage Five, LLC, An Oregon Limited Liability
Company, whose address is 155 B Avenue, Suite 222, Lake Oswego, OR 97034 ("Grantor"); Banner Bank, whose
address Is Lake Oswego Commercial Banking Center, 412 "A" Avenue, Suite 300, Lake Oswego, OR 97034
(referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Fidelity National Title Company of
Oregon, whose address is 900 SW 5th Avenue, Portland, OR 97204 (referred to below as "Trustee").
CONVEYANCE AND GRANT. For valuable consideration, represented in the Note dated September 11, 2012, in the original principal amount of
$2,700,000.00, 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
O irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas,
V geothermal and similar matters, (the "Real Property") located in Washington County, State of Oregon:
Parcel 1, Tract 'A', and Tract 'B', PARTITION PLAT NO. 2007-064, in the City of Tigard, County of
Washington and State of Oregon,
The Real Property or its address is commonly known as 7930 SW Hunziker Street, Tigard, OR 97223, The Real
J Property tax identification number is Account No.: R2157860 Map No.: 2511 CA-00400; Account No.: R2157862
Map No.:2S11CA-00600; Account No.: R2157863 Map No.:2S11CA-00700.
CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
hGrantor 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
Q existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due,
c3 direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or
l"-% 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
0 become otherwise unenforceable.
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
end future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security
O interest in the Personal Property and Rents.
s THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY,
O IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,
THE RELATED DOCUMENTS,AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
O PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Grantor shall pay to Lender all amounts secured by this
tD 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.
(a POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by
the following provisions:
Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2)
use, operate or manage the Property; and (3) collect the Rents from the Property. The following provisions relate to the use of the
Z 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, AND SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009. THIS
1) INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE
LL
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, AND SECTIONS 2 TO 9
AND 17, CHAPTER 855, OREGON LAWS 2009.
Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
maintenance necessary to preserve its value.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other
party the right to remove, any timber, minerals (including oil and gas), coal,clay, scoria, soil, gravel or rock products without Lender's prior
written consent.
Removal of Improvements. Grantor shell 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 end to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of
Trust.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans
With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any
proceeding, including appropriate appeals, so long as Grantor has notified Lender In writing prior to doing so and so long as, in Lender's
sole opinion, Lender's interests In the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond,
reasonably satisfactory to Lender, to protect Lender's Interest.
Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those
acts set forth above In this section, which from the character and use of the Property are reasonably necessary to protect and preserve the
DEED OF TRUST
Loan No: 72144971 (Continued) Page 2
Property.
DUE ON SALE- CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed of
Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real
Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal, beneficial
or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed,
leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest In
or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property. If any Grantor is
a corporation, partnership or limited liability company, transfer also includes any change in ownership of more than twenty-five percent (25%) of
the voting stock, partnership interests or limited liability company interests, as the case may be, of such Grantor. However, this option shall not
be exercised by Lender if such exercise is prohibited by federal law or by Oregon law.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including
water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or
for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal
to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided
in this Deed of Trust.
Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of the filing,
secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security
satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges that could accrue
as a result of a foreclosure pr sale under the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse
judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in
the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against
the Property.
Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or
any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the
work, services, or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor
can and will pay the cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application
of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and maintain
comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as
additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to
hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in form, amounts, coverages
and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Grantor, upon request
of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including
stipulations that coverages will not be cancelled or diminished without at least 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. The Real Property is or will be located in an area designated by the Director of the Federal
Emergency Management Agency as a special flood hazard area. Grantor agrees to obtain and maintain Federal Flood Insurance, if available,
for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set
under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan.
Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if
Grantor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is Impaired, Lender may, at Lender's
election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien
affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Grantor
shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of
such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default
under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not
committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then
to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any
proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear.
Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on
each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4) the
property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the expiration
date of the policy. Grantor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value
replacement cost of the Property.
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor
fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Grantor's failure to discharge or
pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's
behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all
taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring,
maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate
charged under the Note'from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of
the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among
and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the
remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust
also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon
Default.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
Title. Grantor warrants that: (a) Grantor holds good and marketable title of record to the Property in fee simple, free and clear of all liens
and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion
issued in favor of,'and accepted by, Lender in connection with this Deed of Trust, and (b) Grantor has the full right, power, and authority
to execute and deliver this Deed of Trust to Lender.
Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against
the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the interest of
Trustee or Lender under this Deed of Trust, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in
such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of
Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to
time to permit such participation.
Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws,
ordinances, and regulations of governmental authorities.
Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Deed of Trust shall
survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force end 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:
•
DEED OF TRUST
Loan No: 72144971 (Continued) Page 3
Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take
such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding, but
Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor
will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to
permit such participation.
Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied to
the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all
reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
fees and charges are a part of this Deed of Trust:
Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Deed of Trust and
take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse
Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust,
including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust.
Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon all or
any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Grantor which Grantor is authorized or required to
deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable
against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal
and interest made by Grantor.
Subsequent Taxes., If any tax to which this section applies Is enacted subsequent to the date of this Deed of Trust, this event shall have
the same effect as;an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided
below unless Grantor either (1) pays the tax before it becomes-delinquent, or (2) contests the tax as provided above in the Taxes and
Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part
of this Deed of Trust:
Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect and continue Lender's
security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at
any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Deed of frust as a
financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon
default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any
Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it available
to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law.
Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest
granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this
Deed of Trust.
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
Deed of Trust:
Further Assurances'. At any time, and from time to time, upon request of Lender, Grantor will make, execute and deliver, or will cause to
be made, executedor delivered, to Lender or to Lender's designee, and when requested by Lender, cause tct•be filed, recorded, refiled, or
rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all such mortgages,
deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect,
continue, or preserve (1) Grantor's obligations under the Note, this Deed of Trust, and the Related Documents, and (21 the liens and
security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by
Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses
incurred in connection with the matters referred to in this paragraph.
Attorney-in-Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of
Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the
purpose of making; executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole
opinion, to accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor under
this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Grantor suitable•
statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any
reconveyance fee required by law shall be paid by Grantor, if permitted by applicable law.
EVENTS OF DEFAULT. (Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
Payment Default. Grantor fails to make any payment when due under the Indebtedness.
Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust
or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other
agreement between Lender and Grantor.
Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in
any of the Related Documents.
Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance,
or any other payment necessary to prevent filing of or to effect discharge of any lien.
Environmental Default. Failure of any party to comply with or perform when due any term, obligatidn, covenant or condition contained in
any environmental agreement executed in connection with the Property.
Default in Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, purchase or sales
agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or
Grantor's ability to repay the Indebtedness or Grantor's ability to perform Grantor's obligations under this Deed of Trust or any of the
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
DEED OF TRUST
Loan No: 72144971 (Continued) Page 4
monies or a surety bond for the creditor or forfeiture proceeding, In an amount determined by Lender, in its sole discretion, as being an
adequate reserve or bond for the dispute.
Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not
remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
obligation of Grantor to Lender, whether existing now or later.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness.
Adverse Change. ,A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or
performance of the Indebtedness is impaired.
Insecurity. Lender in good faith believes itself insecure.
Right to Cure. If any default, other than a default in payment is curable and if Grantor has not been given a notice of a breach of the same
provision of this Deed of Trust within the preceding twelve (12) months, it may be cured if Grantor, after Lender sends written notice to
Grantor demanding cure of such default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more than fifteen (15)
days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter
continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
RIGHTS AND REMEDIES ON DEFAULT, If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may
exercise any one or more of the following rights and remedies:
Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make
expenditures or to take action to perform an obligation of Grantor under this Deed of Trust, after Grantor's failure to perform, shall not
affect Lender's right to declare a default and exercise its remedies.
Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately
due and payable, including any prepayment penalty which Grantor'would be required to pay.
Foreclosure. With respect to all or any part of the Real Property, the Trustee shall have the right to foreclose by notice and sale, end
Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by
applicable law. If this Deed of Trust is foreclosed by judicial foreclosure, Lender will be entitled to a judgment which will provide that if the
foreclosure sale proceeds are insufficient to satisfy the judgment, execution may issue for the amount of the unpaid balance of the
judgment.
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party
under the Uniform Commercial Code.
Collect Rents. Lender shall have the right, without notice to Grantor to take possession of and manage the Property and collect the Rents,
including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In
furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees airectly to
Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse
instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants
or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any
proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent, or through a
receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the
power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the
Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without
bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property
exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver.
Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise
becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lender or the
purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property, or (21 vacate the
Property immediately upon the demand of Lender.
Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or available at law or in
equity.
Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time
after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice
given at least fifteen (15) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction
with any sale of the Real Property.
Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all rights to have the Property marshalled.
In exercising its rights and remedies, the Trustee or Lender shall be free to sell all or any part of the Property together or separately, in one
sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled
to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action
is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any
time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall
bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation,
however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit,
including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction),
appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure
reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law. Grantor
also will pay any court costs, in addition to all other sums provided by law.
Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this Deed of
Trust:
Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following
actions with respect to the Property upon the written request of Lender and Grantor: (a) join in preparing and filing a map or plat of the
Real Property, including the dedication of streets or other rights to the public; (b) join in granting any easement or creating any restriction
on the Real Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this
Deed of Trust.
Obligations to Notify. Trustee shall not be obligated to notify any other party of a pending sale under any other trust deed or lien, or of any
action or proceeding in which Grantor, Lender, or Trustee shall be a party, unless the action or proceeding is brought by Trustee.
Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth
above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have
the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law.
Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under this
Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of Washington County,
State of Oregon. The instrument shall contain, in addition to all other matters required by state law, the names of the original Lender,
Trustee, and Grantor, the book and page where this Deed of Trust is recorded, and the name and address of the successor trustee, and the
instrument shall be executed and acknowledged by Lender or its successors in interest. The successor trustee, without conveyance of the
Property, shall succeed to all the title, power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This
procedure for substitution of Trustee shall govern to the exclusion of all other provisions for substitution.
NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale
DEED OF TRUST
Loan No: 72144971 (Continued) Page 5
shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by
law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class,
certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of
foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning
of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other
parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed
at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by
Lender to any Grantor is deemed to he notice given to all Grantors.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties
as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in
writing and signed by the party or parties sought to be charged or bound by the alteration or amendment.
Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request, a
certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as
Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection
with the operation of the Property.
Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define
the provisions of this Deed of Trust.
Merger. There shall be no merger of the Interest or estate created by this Deed of Trust with any other interest or estate in the Property at
any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
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.
No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing
and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any
other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to
demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of
dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future
transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance
shall not constitute, continuing consent to subsequent instances where such consent is required and in all cases such consent may be
granted or withheld In the sole discretion of Lender.
Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible,
the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so
modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or
unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this
Deed of Trust.
Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Trust shall be
binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person
other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the
Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the
Indebtedness.
Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
Waive Jury. All parties to this Deed of Trust hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by
any party against any other party.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State
of Oregon as to all Indebtedness secured by this Deed of Trust.
Commercial Deed of Trust. Grantor agrees with Lender that this Deed of Trust is a commercial deed of trust and that Grantor will not
change the use of the Property without Lender's prior written consent.
DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words
and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not
otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
Beneficiary. The word "Beneficiary" means Banner Bank, and its successors and assigns.
Borrower. The word "Borrower" means Meritage Five, LLC and includes all co-signers and co-makers signing the Note and all their
successors and assigns.
Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Grantor, Lender, and Trustee, and includes without limitation all
assignment and security interest provisions relating to the Personal Property and Rents.
Default. The word"Default" means the Default set forth in this Deed of Trust in the section titled "Default".
Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default
section of this Deed of Trust.
Grantor. The word "Grantor" means Meritage Five, LLC.
Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of the
Note.
Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the
Real Property, facilities, additigns, replacements and other construction on the Real Property.
Indebtedness. The word "Indebtedness" means the indebtedness evidenced by the Note or Related Documents, including all principal and
interest together with all other indebtedness and costs and expenses for which Grantor is responsible under this Agreement or under any of
the Related Documents. Specifically, without limitation, Indebtedness includes all obligations of Grantor arising under any Swap Contract
and all amounts that may be indirectly secured by the Cross-Collateralization provision of this Agreement .
Swap Contract. The words "Swap Contract" mean any interest rate, credit, commodity or equity swap, cap, floor, collar, forward foreign
exchange transaction, currency swap, cross currency rate swap, currency option, securities puts, calls, collars, options or forwards or any
combination of, or option with respect to, these or similar transactions now or hereafter entered into between Grantor and Lender.
Lender. The word "Lender" means Banner Bank, its successors and assigns.
Note. The word "Note" means the promissory note dated September 11, 2012, in the original principal amount of
$2,700,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations
of, and substitutions for the promissory note or agreement. The maturity date of the Note is September 15, 2022.
Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all
replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
proceeds and refunds of premiums) from any sale or other disposition of the Property.
Property. The word "Property" means collectively the Real Property and the Personal Property.
•
DEED OF TRUST
Loan No: 72144971 (Continued) Page 6
Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, end 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 Fidelity National Title Company of Oregon, whose address is 900 SW 5th Avenue, Portland, OR
97204 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:
MERITAGE FIVE, LLC
A//
By: / ` /C 6.9ArV
Faro.k-H. :di, Managin, Member of Meritage Edwin G. 0 I ally, Ill, Mem.er o I: ' -•• ivs, LLC
Five, LLC 7'
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
(
OFFICIAL SEAL tJ
STATE OF I/1� / 7/�- s�.i�:+ ((
) � LISA M POTEKEV
I �
" ` -._ . NOTARY PUBLIC-OREGON
G� • , SS ''' COMMISSION NO.450622
COUNTY OF
1 ff MY COMMISSION EXPIRES JULY 07,2014
On this r1-1 day of ....,41-/2" s-!/1_--• 20 , before me, the undersigned Notary Public, personally
appeared Farouk H. Al-Hadi, Managing Member of Meritage Five, LLC, and known to me to be a member or designated agent of the limited
liability company that executed the Deed of Trust and acknowledged the Deed of Trust to be the free and voluntary act and deed of the limited
liability company, by authority of statute, its articles of organization or its operating agreement, for the uses and purposes therein mentioned,
and on oath stated that he or she is authorized to execute this Deed of Trust and in fact executed the Deed of Trust on behalf of the limited
liability company. �A
By Lac L__- l�ZT .�4 `� Residing at
Notary Public in and for the State of 1;1412-d3#'J--C� My commission expires 7/7/;)_o
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT
C OFFICIAL SEAL
STATE OF ► ?7)
~� LISA M POTEKEV
f,o NOTARY PUBLIC-OREGON
1 ../ ON NO.450622
COUNTY OF �
�ft - -L ryv I MY COMMISSIONCOMMISSIEXPIRES JULY 07,2014()
On this ! day of , 20 0-- , before me, the undersigned Notary Public, personally
appeared Edwin G. O'KeIIy, III, Member of Meritage Five, LLC, and known to me to be a member or designated agent of the limited liability
company that executed the Deed of Trust and acknowledged the Deed of Trust to be the free and voluntary act and deed of the limited liability
company, by authority of statute, its articles of organization or its operating agreement, for the uses and purposes therein mentioned, and on
oath stated that he or she is authorized to execute this Deed of Trust and in fact executed the Deed of Trust on behalf of the limited liability
company.
By .0411_.. � Residing at
Notary Public in and for the State of f'-LP d/?Z My commission expires 7/7/.?-Go/9
REQUEST FOR FULL RECONVEYANCE
(To be used only when obligations have been paid in full)
To: ,Trustee
The undersigned is the liegal 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: I Beneficiary:
By:
Its:
LASER PRO Lending, Ver. 12.2.0.003 Copr. Harland Financial Solutions, Inc. 1997, 2012. All Rights Reserved. - OR
Z:1LaserP\CF11LPL1G01.FC TR-64850 PR-93
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SHED FOR CHARTER MECHANICAL f=,. ,,.
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TIGARD, OREGON
CHARTER MECHANICAL OWNER \\ \ �i
7940 SW HUNZIKER ST. CONTACT: TOM SWITZER \ EDGE OECs5 EEIM a �� p
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TELEPHONE: 503.853.4096 \ T1. + _ - , ` . g j
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15895 SW 72ND AVE, SUITE 200 CONTACT: ZACHARY MORAN ,I �+.i � /-''t,�' \`�\R Sl --
PORTLAND, OREGON 97224 ///...
TELEPHONE: 503.226.1285 + ,/ I `�
FAX: 503.226.1670 /
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PERLO CONSTRUCTION GENERAL CONTRACTOR / A- / i F 1
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16101 SW 72ND AVE, SUITE 200 CONTACT: KATHLEEN BUONO / 4 + - , / /
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PORTLAND, OREGON 97224 / O
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Minor Modification - Narrative
ODate: 09/2 I/2015
kl) Subject: Narrative for Minor Modification
Project Title: Charter Mechanical —Vacuum Shed
15895 SW 72ND AVE Project No: 150179.0 I
SUITE 200
PORTLAND, OR 97224 By: Zach Moran, RA
PHONE:503.226.1285
FAx: 503.226.1670 To: Planning Director, City of Tigard
INFO@CIDAINC.COM
www.CIDAINC.cOM
18.360.050 Major Modification(s) to Approved Plans or Existing Development
B. Evaluation criteria. The director shall determine that a major modification(s) will result if
one or more of the following changes are proposed.There will be:
I. An increase in dwelling unit density, or lot coverage for residential development;
Response: No, the work is on industrial land and therefore not associated with
any residential development.
2. A change in the ratio or number of different types of dwelling units;
Response: No, the work is on industrial land and therefore not associated with
any residential development.
3. A change that requires additional on-site parking in accordance with Chapter 18.765;
Response: No, the unconditioned structure will shelter equipment which will have
no impact on occupied space and therefore will not increase the need for on-site
parking.
4. A change in the type of commercial or industrial structures as defined by the
Uniform Building Code;
Response: No, the work is in support of the existing use.
5. An increase in the height of the building(s) by more than 20%;
Response: No, the height of the structure is less than the existing buildings.
6. A change in the type and location of access ways and parking areas where off-site
traffic would be affected;
Response: No, the work is contained within an existing paved yard not designated
as parking or loading and will not affect the existing on-site parking.
7. An increase in vehicular traffic to and from the site and the increase can be expected
to exceed 100 vehicles per day;
Response: No, the structure is not adding occupied space and therefore will not
increase the need for on-site parking.
8. An increase in the floor area proposed for a nonresidential use by more than 10%
excluding expansions under 5,000 square feet;
Response: No, the structure will be 120sf or less,
9. A reduction in the area reserved for common open space and/or usable open space
which reduces the open space area below the minimum required by this code or
F:\GENADMIN\PROJECTS\15\0179.01 Charter Mechanical\Minor Modification\Narrative 09.10.I5.docx
reduces the open space area by more than I 0%;
Response: No, the structure will be 120sf or less which will affect less than 10%
of the open space area.
10. A reduction of project amenities below the minimum established by this code or by
more than 10%where specified in the site plan:
a. Recreational facilities;
b. Screening; and/or
c. Landscaping provisions.
Response: The structure will not reduce the area of project amenities and will not
affect site plan amenities.
I I. A modification to the conditions imposed at the time of site development review
approval which are not the subject of paragraphs I through 10 of this sub-section.
Response: No
F:\GENADMIN\PROJECTS\15\0179.01 Charter Mechanical Minor Modification\Narrative 09.10.15.docx