I. NOTICE IS HEREBY GIVEN that the undersigned Trustee will on the 14th day of December, 2012, at the hour of 10:15 a.m., at the Public Service Center Gazebo, across from the Clark County Courthouse, 1300 Franklin Street, Vancouver, Washington, sell at public auction to the highest and best bidder, payable at the time of sale, the real property legally described as follows:
Lot 4, OHLINGER SUBDIVISION, according to the plat thereof, recorded in Volume D
of Plats, Page 68, records of Clark County, Washington which is subject to that certain Deed of Trust dated July 15, 2005, and recorded on July 18, 2005, under Auditor’s File No. 4018600, records of Clark County, Washington (the “Deed of Trust”) from Pac Rim Homes, LLC, a Washington limited liability company, as Grantor, to Trustee Services Inc., as Trustee, to secure an obligation in favor of RES-WA PRH, LLC, a Florida limited liability company, successor-in-interest to Bank of Clark County, as Beneficiary. The beneficial interest in the Deed of Trust was assigned to RES-WA PRH, LLC, a Florida limited liability company, by successive assignments (the “Assignments”), the most recent of which was recorded on July 5, 2012, under Auditor’s File No. 4869490 in the records of Clark County, Washington. (The Deed of Trust and the Assignments thereto shall be collectively referred to as the “Deed of Trust.”)
II. No action commenced by the Beneficiary of the Deed of Trust is now pending to seek satisfaction of the obligation in any court by reason of the Borrower’s or Grantor’s defaults on the obligation secured by the Deed of Trust.
III. The defaults for which this foreclosure is made is your failure to pay the following amounts, which are in arrears, pursuant to the Promissory Notes secured by the Deed of Trust: Principal balance $ 535,992.34 Accrued and unpaid interest owing at the note rate as of 9/5/12: 156,481.47
Accrued and unpaid interest owing at the note default rate as of 9/5/12: 128,573.75 Real property tax advances: 27,926.73 Foreclosure report: 1,652.02 Attorneys’ fees and costs through 8/31/12: 1,500.00 TOTAL IN DEFAULT: $ 852,126.31
Pursuant to the terms of the Note secured by the Deed of Trust, a default under the Note constitutes a default under the Deed of Trust. Thus, the defaults under the Note must be cured in order to avoid foreclosure on the Deed of Trust. (As separate notices of trustee’s sale indicate, a default under the Note constitutes a default on both of the Deeds of Trust that secure the same Note, and such default must be cured in order to avoid a foreclosure on both Deeds of Trust.) Note: The beneficiary’s failure to include any existing default in the foregoing list is not intended to constitute a waiver of such default. The beneficiary reserves all rights regarding each and every default, whether known or unknown to beneficiary at this time.
IV. The principal sum owing on the obligations secured by the Deed of Trust is $535,992.34, together withinterest as provided in the Notes or other instrument secured, and such other costs and fees as are due under the Notes or other instrument secured, and as are provided by statute, plus any and all additional taxes, assessments, and other charges against the property that will or may become due following the date of this notice.
V. The above-described real property will be sold to satisfy the expense of sale and the obligation secured by the Deed of Trust as provided by the statute. The sale will be made without warranty, express or implied, regarding title, possession, or encumbrances on the 14th day of December 2012. The sale may be terminated any time after the date hereof and before the sale by the Borrower, Grantor, any Guarantors, or the holder of any recorded junior lien or encumbrance, by paying the entire principal and interest secured by the Deed of Trust, plus costs, fees and advances, if any, made pursuant to the terms of the obligations and/or Deed of Trust, and curing all other defaults.
VI. A written Notice of Default was transmitted by Trustee or Beneficiary to the Borrower and Grantor and Guarantors at the following addresses: PAC RIM HOMES, LLC, 1529 Lacamas Drive, Camas, WA 98607 PAC RIM HOMES, LLC, c/o Chuck O. Eng, Reg. Agt., 1529 Lacamas Drive, Camas, WA 98607 PAC RIM HOMES, LLC, 2135 NW Lacamas Drive, Camas, WA 98607 PAC RIM HOMES, LLC, c/o Chuck O. Eng. Reg. Agt., 2135 NW Lacamas Drive, Camas, WA 98607 PAC RIM HOMES, LLC, 5700 NW El Rey Drive, Camas, WA 98607 CHUCK O. ENG, 5700 NW El Rey Drive, Camas, WA 98607 CHUCK O. ENG, 2135 Lacamas Drive, Camas, WA 98607 WILLIAM C. BADER, 2229 NW Pinnacle Drive, Portland, OR 97229 by both first class and certified mail on the 26th day of July, 2012, proof of which is in the possession of the Trustee; and on the 30th day of July 2012, written Notice of Default was posted in a conspicuous place on the real property described in Paragraph I above, and the Trustee has in his possession proof of such posting.
VII. The Trustee whose name and address is set forth below will provide in writing to anyone requesting it, a statement of all costs and fees due at any time prior to the sale.
VIII. The effect of the sale will be to deprive the Grantor and all those who hold by, through or under the Grantor of all their interest, in the above-described property.
IX. Anyone having any objection to the sale on any grounds whatsoever will be afforded an opportunity to be heard as to those objections if they bring a lawsuit to restrain the sale pursuant to RCW 61.24.130. Failure to bring such a lawsuit may result in a waiver of any proper grounds for invalidating the Trustee’s sale.
X. NOTICE TO OCCUPANTS OR TENANTS
STATE LAW NOTIFICATION REQUIREMENTS
The foreclosure process has begun on this property, which may affect your right to continue to live in this property. Ninety days or more after the date of this notice, this property may be sold at foreclosure. If you are renting this property, the new property owner may either give you a new rental agreement or provide you with a sixty-day notice to vacate the property. You may wish to contact a lawyer or your local legal aid or housing counseling agency to discuss any rights that you may have.
The purchaser at the trustee’s sale is entitled to possession of the property on the 20th day following the sale, as against the grantor under the deed of trust (the owner) and anyone having an interest junior to the deed of trust, including occupants who are not tenants. After the 20th day following the sale the purchaser has the right to evict occupants who are not tenants by summary proceedings under chapter 59.12 RCW.
FEDERAL LAW NOTIFICATION REQUIREMENTS
IF YOU ARE OCCUPYING AND RENTING THIS PROPERTY AS RESIDENTIAL DWELLING UNDER A LEGITIMATE RENTAL AGREEMENT, FEDERAL LAW REQUIRES THE BUYER TO GIVE YOU NOTICE IN WRITING A CERTAIN NUMBER OF DAYS BEFORE THE BUYER CAN REQUIRE YOU TO MOVE OUT. THE FEDERAL LAW THAT REQUIRES THE BUYER TO GIVE YOU THIS NOTICE IS EFFECTIVE UNTIL DECEMBER 31, 2012. Under Federal Law, the buyer must give you at least 90 days’ notice in writing before requiring you to move out. If you are renting this Property under a fixed-term lease (for example, a six-month or one-year lease), you may stay until the end of your lease term. If the buyer wants to move in and use this Property as the buyer’s primary residence, the buyer can give you written notice and require you to move out after 90 days, even if you have a fixed term lease with more than 90 days left.
XI. NOTICE TO GUARANTORS a. The guarantors may be liable for a deficiency judgment to the extent the sale price obtained at the trustee’s sale is less than the debts secured by the Deeds of Trust; b. The guarantors have the same rights to reinstate the debts, cure the defaults, or repay the debts as is given to the grantor in order to avoid the trustee’s sale; c. The guarantors will have no right to redeem the property after the trustee’s sale; d. Subject to such longer periods as are provided in the Washington Deed of Trust Act, chapter 61.24 RCW, any action brought to enforce a guaranty must be commenced within one year after the trustee’s sale, or the last trustee’s sale under any deed of trust granted to secure the same debt; and e. In any action for a deficiency, the guarantors will have the right to establish the fair value of the property as of the date of the trustee’s sale, less prior liens and encumbrances, and to limit the guarantor’s liability for a deficiency to the difference between the debt and the greater of such fair value or the sale price paid at the trustee’s sale, plus interest and costs.
NOTICE OF APPLICATION ON SENATE BILL 5810
Senate Bill 5810 became effective on July 26, 2009. Among other things, the Bill requires additional notices to be given to grantors of deeds of trust made from January 1, 2003 to December 31, 2007 that are recorded against owner-occupied residential real property as defined by Senate Bill 5810. Deed of Trust that are recorded prior to or after the above referenced time period are exempt from these additional notices. In addition, commercial loans as defined are exempt.
The Beneficiary categorizes the underlying loan as a commercial loan as defined by RCW 61.24.005(4). As such, the notice requirements of Senate Bill 5810 do not apply to this procedure. If you disagree with the categorization, contact the undersigned at the address below, in writing, as soon as possible. DATED: September 10, 2012. Christine A. Kosydar, Successor Trustee, Stoel Rives LLP, 805 Broadway, Suite 725, Vancouver, WA 98660 (503) 552-9790 Email: cakosydar@stoel.com
November 16, 30
