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HomeMy WebLinkAboutDeed of Reconveyance - Auction Property•cA..CESC 02 Z� ❑ Deschutes County Board of Commissioners 1300 NW Wall St., Suite 200, Bend, OR 97701-1960 (541) 388-6570 - Fax (541) 385-3202 - www.deschutes.org AGENDA REQUEST & STAFF REPORT For Board Business Meeting of January 23, 2008 Please see directions for completing this document on the next page. DATE: January 16, 2008 FROM: Teresa Rozic Property & Facilities 385-1414 TITLE OF AGENDA ITEM: Consideration of Signature by County Counsel of Document 2008-034, a Deed of Reconveyance, for property sold at public auction March 15, 2007. PUBLIC HEARING ON THIS DATE? NO BACKGROUND AND POLICY IMPLICATIONS: At public auction March 15, 2007 John and Carol Hershiser were declared successful bidder for the parcel described as Lot Eight (8) in Block One (1) corrected Plat South Addition C.W. Reeve Resort Tract, Deschutes County. Deschutes County offered financing for the transaction and Mr. and Mrs. Hershiser signed a Promissory Note and Trust Deed. On January 10, 2008 the Finance Department advised us that the Hershisers had paid the balance owing in full and had requested a Deed of Reconveyance. As Trustee of the Trust Deed, Mark Pilliod, Deschutes County Legal Counsel, must execute the Deed of Reconveyance. FISCAL IMPLICATIONS: Additional funds will be distributed to the taxing districts earlier than originally anticipated because of this payoff. Deschutes County general fund will also receive a distribution. RECOMMENDATION & ACTION REQUESTED: Staff recommends signature by County Counsel of Document 2008-034. ATTENDANCE: Teresa Rozic DISTRIBUTION OF DOCUMENTS: Original to Teresa Rozic for recording. John and Carol Hershiser, Borrower DESCHUTES COUNTY DOCUMENT SUMMARY (NOTE: This form is required to be submitted with ALL contracts and other agreements, regardless of whether the document is to be on a Board agenda or can be signed by the County Administrator or Department Director. If the document is to be on a Board agenda, the Agenda Request Form is also required. If this form is not included with the document, the document will be returned to the Department. Please submit documents to the Board Secretary for tracking purposes, and not directly to Legal Counsel, the County Administrator or the Commissioners. In addition to submitting this form with your documents, please submit this form electronically to the Board Secretary.) Date: Please complete all sections above the Official Review line. January 16, 2008 Contact Person: hreresa Rozic Contractor/Supplier/Consultant Name: Department: Property & Facilities Phone #: 385-1414 Goods and/or Services: Request for Reconveyance Background & History: At public auction March 15, 2007 John and Carol Hershiser were declared successful bidder for the parcel described as Lot Eight (8) in Block One (1) corrected Plat South Addition C.W. Reeve Resort Tract, Deschutes County. Deschutes County offered financing for the transaction and Mr. and Mrs. Hershiser signed a Promissory Note and Trust Deed. On January 10, 2008 the Finance Department advised us that the Hershisers had paid the balance owing in full and had requested a Deed of Reconveyance. As Trustee of the Trust Deed, Mark Pilliod, Deschutes County Legal Counsel, must execute the Deed of Reconveyance. Agreement Starting Date: Upon signature Ending Date: Annual Value or Total Payment: N/A $53,272.96 total payoff plus $31.00 recording fees ❑ Insurance Certificate Received check box) Insurance Expiration Date: Check all that apply: ❑ RFP, Solicitation or Bid Process r' ❑ Informal quotes (<$150K) ❑ Exempt from RFP, Solicitation or Bid Process (specify — see DCC §2.37) \-)* Funding Source: (Included in current budget? ❑ Yes ❑ No If No, has budget amendment been submitted? ❑ Yes ❑ No Departmental Contact: Title: Property Specialist Teresa Rozic Phone #: 385-1414 Department Director Approval:..; Signature Date 1/16/2008 Distribution of Document: Include complete information if document is to be mailed. Official Review: County Signature Required (check one): ❑ BOCC ❑ Department Director (if <$25K) ❑ Administrator (if >$25K but$150K; if >$150K, BOCC Order No. Legal Review 1' Document Number DC -- 2 0 0 " 0 3 Date /-1e 1/16/2008 REVI Li) EGAL OUNSEL AFTER RECORDING MAIL TO: John and Carol Hershiser 15840 Ranch Place La Pine, OR 97739 For Recording Stamp Only DEED OF RECONVEYANCE KNOW ALL MEN BY THESE PRESENTS: that the undersigned Trustee under that certain Trust Deed: Dated: April 12, 2007 Recorded: April 19, 2007 Instrument No. 2007-22394 Official Records of: Deschutes County Grantor(Trustee: John Hershiser and Carol Hershiser, Husband and Wife Trustee: Mark Pilliod Beneficiary: Deschutes County, Oregon having received from the beneficiary under said Trust Deed a written request to reconvey said premises, reciting that the obligation secured by said Trust Deed has been fully paid and performed, does hereby grant, bargain, sell and convey, but without any covenant or warranty, express or implied, to the person or persons legally entitled thereto, all of the estate held by the undersigned in and to that described premises by virtue of said Trust Deed. Dated this 14 of Jai,4,a-,7 STATE OF OREGON ) ss. County of Deschutes , 2008 DE HUTES CNTY, OREGON 5 ark Pilliod, County Legal Counsel This instrument was acknowledged before me on Pilliod, County Legal Counsel, Deschutes County, Oregon. OFFICIAL SEAL GEORGIA ANN SPRINGER NOTARY PUBLIC -OREGON COMMISSION NO. 417786 MY COMMON EXPIRES JULY 21 2011 Document No. 2008-034 , 2008 by Mark Notary Public for OregobJo `��_ My Commission Expires: D - -CES LU -k Deschutes County Finance Department O / { Marty Wynne, Finance Director and Treasurer 1300 NW Wall St, Suite 200 • Bend, OR 97701-1960 (541) 388-6559 • Fax (541) 749-2909 www.co.deschutes.or.us MEMORANDUM Date: January 10, 2008 To: Teresa Rozic, Property Management From: Cheryl Circle, Finance&�,'- Re: Land Sale Contract Payoff - Hershiser Attached please an amortization schedule of the payments received on a note in the name of John & Carol Hershiser. The balance owing on this account has been paid in full as of January 10, 2008. We also collected recording fees in the amount of $31.00. Our records indicate the original loan dated April 12, 2007 was on property described as Lot 8 Block 1 corrected Plat South Addition G W Reeve Resort Tract, Deschutes County, Oregon. I have also enclosed a copy of their check of $53,303.95 and Treasurer's Receipt #7400 that represents the payoff. Any questions I can be reached at ext. 4399. Thanks Cheryl RECTI JAN 7 4 2008 sows.. ORM No. 881 - TRUST DEED (Anlgnment RbaMcM 0 lseo-zaoa STEVE.. ss lAW PUBLISHING CO. PORTLAND, OR m w.a.,.nme...mm EA - NO PART OF ANY STEVENS.-NESS FORM MAY BE REPRODUCED IN ANY FORM OR BY ANY ELECTRONIC OR MECHANICAL MEANS.(OaOaNANOT DESCHUBBLANKENSHIP ES COUNTY OFFICIAL COUNTYNTY CLERKS 1�(�1- 394 TRUST DEED John Hershiser and Carol Hershiser 15840 Ranch Place ' La Pine& OR 97739 Or mice . Nems and Address Deschutes County_______ 1300 NW Wall Street, Suite 200 Bend, OR 97701 Bensadery'e Name and Address Atter recording, return to Mama, Address, Zia Deschutes County Property_Management 1320 NW Wall Street&__Suite 200 Bend,_9R 97701 II I11j1I IIIIIjUIIIIIII1I $36.00NIII1 04/19/2007 10:50:17 AM lt—DT Ontsl Slna4 TN 010.00 011.00 010.00 05.00 SPACE REacnveu and/or as fee/file/instrument/microfilm/reception FOR RECORDER'S USE No. , Records of this County. Witness my hand and seal of County affixed. NAME TTTLE By , Deputy. THIS TRUST DEED, made on ___. 4pr i __12__4__ IZ , between ***John Hershiser and Carol Hershiser, Husband and Wife*** ***Mark Pilliody Deschutes County Legal Counsel*** , as Grantor, as Trustee, and ***Deschutes County& a _political subdivision of the State of Oregon*** WITNESSETH: Grantor irrevocably grants, bargains, sells and conveys to trustee, in trust, with power of sale, the property in Deschutes County, Oregon, described as: as Beneficiary, Lot Eight (8) in Block One (1) corrected Plat South Addition G. W. Reeve Resort Tract, Deschutes County, Oregon together with all and singular the tenements, hereditaments and appurtenances and all other rights thereunto belonging or in any way now or hereafter appertaining, and the rents, issues and profits thereof, and all fixtures now or hereafter attached to or used in con- nection with the pnverty. FO PT p E BF SECORUi R R Ni f ( h int for f er ret a mens of the sum of Fifty—Yive Thousand two Hundred anr>° �o/olgars (;t�r�i�e.i�8� Dollars, with interest thereon according to the temp of a promissory.nore of even date herewith, payable to beneficiary or order and made by grantor, the final payment of principal and interest, if not sooner paid, to be due and payable on ____iIRY__1 a_ 2017 _ _ __ ____ The date of maturity of the debt secured by this instrument is the date, stated above. on which the final installment of the note becomes due and payable. Should the grantor either agree to, attempt to, or actually sell, convey, or assign all (or any part) of the property, or all (or any part) of grantor's interest in it without first obtaining the written consent or approval of the beneficiary, then, at the beneficiary's option*, all obligations secured by this instrument, irrespective of the matu- rity dates expressed therein, or herein, shall become immediately due and payable. The execution by grantor of an earnest money agreement** does not constitute a sale, conveyance or assignment. To protect the security of this trust deed, grantor agrees: 1. To protect, preserve and maintain the property in good condition and repair; not to remove or demolish any building or improvement thereon; and not to commit or permit any waste of the property. 2. To complete or restore promptly and in good and habitable condition any building or improvement which may be constructed, damaged or destroyed there- on, and pay when due all costs ince therefor. 3. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the property; if the beneficiary so requests, to join in exe- cuting such financing statements pursuant to the Uniform Commercial Code as the beneficiary may require, and to pay for filing the same in the proper public office or offices, as well as the cost of all lien searches made by filing otficen or searching agencies as may be deemed desirable by the beneficiary. 4. Toprovide and conhnuou main `ensu pa'p n the bust ' now or ha a(� to an e ropetty aI tit los5,or d lope b ryfio t°i`qur , 1005 a 00 n Sl¢ DYltencYrpal a aTicfl OS�g Lr[ie iVotarr llo c!. e n J iute- aids, as the beneficiary may from time m time neywre, m an amount not asst 3 — , wntten bby one or more companies acceptable to the beneficiary, with loss payable to the latter. All policies of insurance shall be delivered to the beneficiary as soon as issued. If (Inc grantor shall fail for any reason to procure any such insurance and to deliver the policies to the beneficiary at least fifteen days prior to the expiration of any policy of insur- ance now or hereafter placed on the buildings, the beneficiary may procure the same at grantor's expense. The amount collected under any fue or other insurance pol- ity may be applied by beneficiary upon any indebtedness secured hereby and in such order as beneficiary may determine. or at option of beneficiary the entire amount so collected, or any part thereof, may be released to grantor. Such apphration or release shall not cure or waive any default or notice of default hereunder or invali- date any act done pursuant to such notice. 5. To keep the property free from construction liens and to pay all taxes, assessments and other charges that may be levied or assessed upon or against the property before any pert of such axes. assessments and other charges becomes past due or delinquent and promptly deliver receipts therefor to beneficiary. Should the grantor fail to make payment of any taxes, assessments, insurance premiums, liens or other charges payable by grantor. either by direct payment or by providing beneficiary with funds with which to make such payment, beneficiary may, at its option, make payment thereof, and the amount so paid, with interest at the rate set forth in the note secured hereby, together with the obligations described in pamgaphs 6 and 7 of this trust deed, shall be added to and become a part of the debt secured by this trust deed, without waiver of any rights arising from breach of any of the covenants hereof. For such payments, with interacts aforesaid, the proper- ty hereinbefore described, as well as the grantor, shall be bound to the same extent that they ate bound for the payment of the obligation herein described. All such payments shall be immediately due and payable without notice, and the nonpaymem dieted shall, at the option of the beneficiary, render alt sums scented by this trust deed immediately due and payable and shall constitute a breach of this trust deed. 6. To pay all costs, fees and expenses of this trust, including the cost of title search, as well as the other costs and expenses of the trustee incurred in con- nection with or in enforcing this obligation, and trustee and attorney fees actually incurred. 7. To appear in and defend any action or proceeding purporting to affect the security rights or powers of beneficiary or trustee; and in any suit. action or pro- ceeding in which the beneficiary or trustee may appear, including any suit for the foreclosure of this deed or any suit or action related to this instrument, including but not limited to its validity and/or enfotceabiliry, to pay all costs and expenses, including evidence of title and the beneficiary's or trustee's attorney fees. The amount of attorney fees mentioned in this paragraph in all cases shall be fixed by the trial court, and in the event of an appeal from any judgment or decree of the trial court, grantor further agreesto pay such sum as the appellate court shall adjudge reasonable as the beneficiary's or trustee's attorney fees on such appeal. I1 is mutually agreed that: B. In the event that any portion or all of the property shall be taken under the right of eminent domain or condemnation, beneficiary shall have the right, if it so elects, to require that all or any portion of the monies payable as compensation for such taking which are in excess of the amount required to.pay all reasonable costs, expenses and attomey fees necessarily paid or incurred by grantor in such proceedings, shall be paid to beneficiary and applied by it fust upon any reasonable coats and expenses and attorney fees, both in the trial and appellate Coutts, necessarily paid or incurred by beneficiary in such proceedings. and the balance applied upon the indebtedness secured hereby. Grantor agrees, at its own expense, to take such actions and execute such instruments as shall be necessary in obtaining such compensation promptly upon beneficiary's request. NOTE: TM Trust Dad Act provider. *hat eco trustee hereunder must be either an Niamey who I. en 000(00 m8mba M the Omen Stela 9a, a hank, lruM oomper 7 or savings ad teen aeaecletan authorised to do business under the Ian of Oregon a the United Shia, a title Insures. company authorised to Insure title to reef property of IN. este, he eub.idlarNe, enlllates, agenle or branches, the united States or ens agency thereof, or an sacro.' agent Ileum! under ORBS 000.00a to 000.505 •WARNIN9: 12 USO 1701)8 regulate* and may prohibit surd. o1 this option. . Tu pywi_I,., .egg..,. 16.t •001.88 egr...Iagl ad*. .hs lute& at n mina hrnefMh,rv'. r.n.enl In 'vm.00.0. d.1W.