AMENDED NOTICE OF TRUSTEE’S SALE OF COMMERCIAL LOAN
PURSUANT TO THE REVISED CODE OF WASHINGTON
CHAPTER 61.24, ET.SEQ.
Grantor: BT Property Investments, LLC
Grantee/Current Beneficiary of the Deed of Trust: Bellevue Funding LLC
Current Trustee of the Deed of Trust: Rainier Trustee Services, Inc.
Current Mortgage Servicer of the Deed of Trust: Bellevue Funding LLC
Reference Number of the Deed of Trust: 202206070533
Tax Parcel Number: 9355000290
TO: BT Property Investments, LLC Occupants/Tenants
Ben Tran, aka Binh Tran
Spouse of Ben Tran, aka Binh Tran
I.
NOTICE IS HEREBY GIVEN that the undersigned Trustee, Rainier Trustee Services, Inc., will on MAY 24, 2024, at the hour of 10:00 a.m., outside the Second Floor Entry Plaza, County-City Building, 930 Tacoma Avenue South, in the City of Tacoma, State of Washington 98402, sell at public auction to the highest and best bidder, payable at the time of sale, the following described real property (the “Real Property”), situated in the County of Pierce, State of Washington, to wit:
Lots 9, 10 and 11, Block 11, Map of Wapato Park Addition to the City of Tacoma, Washington Territory, according to the Plat thereof, record in Volume 3 of Plats at Page 55, Records of Pierce County Auditor.
Situate in the County of Pierce, State of Washington.
(Tax Parcel Number: 9355000290)
The postal address of which is more commonly known as:
1719 South 58th Street, Tacoma, WA 98408
The aforesaid Real Property is subject to that certain Construction Deed of Trust (the “Deed of Trust”) dated June 3, 2022, recorded on June 7, 2022, under Pierce County Recorder’s File No. 202206070533, records of Pierce County, Washington from BT Property Investments, LLC, a Washington limited liability company, (the “Borrower” and “Grantor”), as Grantor, to Rainier Trustee Services, Inc., as the Trustee, to secure an obligation in favor of Bellevue Funding LLC, a
Washington limited liability company (“Bellevue Funding”). The beneficial interest in the Deed of Trust was assigned by Bellevue Funding to Grapetree Lending LLC, a USVI limited liability company (“Grapetree”), pursuant to an Assignment of Deed of Trust dated July 13, 2022, and recorded on September 20, 2022, under Pierce County Recorder’s File No. 202209200815, Records of Pierce County, Washington. The beneficial interest in the Deed of Trust was assigned by Grapetree to Bellevue Funding pursuant to an Assignment of Deed of Trust dated August 17, 2023, and recorded on August 21, 2023, under Pierce County Recorder’s File No. 202308210153, records of Pierce County, Washington. The beneficial interest in the Deed of Trust was again assigned by Grapetree to Bellevue Funding pursuant to a revised Assignment of Deed of Trust dated August 17, 2023, and recorded on October 27, 2023, under Pierce County Recorder’s File No. 202310270045, records of Pierce County, Washington. Bellevue Funding is the present Beneficiary under the Deed of Trust (the “Beneficiary”) and the present owner and holder of the Construction Promissory Note (the “Note”), the obligations secured by the Deed of Trust and the Deed of Trust.
Pursuant to the Deed of Trust, the Beneficiary is additionally the holder of a security interest in certain personal property and other property (collectively the “Additional Property”) described on Exhibit A, attached hereto and incorporated herein by this reference. The Real Property and the Additional Property shall hereinafter be collectively referred to as the “Property.”
II.
No action commenced by the Beneficiary of the Deed of Trust is now pending to seek satisfaction of the obligations secured by the Deed of Trust in any Court by reason of the Borrower’s or Grantor’s default on the obligations secured by the Deed of Trust.
III.
The defaults for which this foreclosure is made are as follows: Failure to pay when due the following amounts which are now in arrears:
a. Failure to pay the following past due amounts, which are due in full:
Construction Promissory Note Due in Full on Maturity Date of September 7, 2023
Principal Balance: $562,010.00*
Accrued Interest From 06/01/2023, Through and Including 02/07/2024 (Including Default Interest): $85,580.53**
Late Fees: $3,584.11
Extension Fee: $7,300.00
NSF Charge: $100.00
Reconveyance Fees and Costs: $600.00
Force Placed Insurance $6,105.08
TOTAL: $665,279.42
*The Note secured by the Deed of Trust matured on September 7, 2023, on which date all amounts owing under the Note and the other loan documents became immediately due and payable.
**Default interest continues to accrue on the outstanding principal of the Note after February 7, 2024, at the default rate of 24% per annum and $374.67 per day.
(b) Default other than failure to make payments:
Failure to make the following payments of delinquent real estate taxes with regard to the Real Property pursuant to the provisions contained in the Deed of Trust (collectively referred to as the “Delinquent Real Estate Taxes”):
Failure to pay the 2023 Delinquent Real Estate Taxes in the principal amount of $3,484.21, plus continuing accrued interest and penalties.
If all amounts owing pursuant to the Note and Deed of Trust are fully paid, other than the Delinquent Real Estate Taxes and other real estate taxes, and the Beneficiary has not previously paid the Delinquent Real Estate Taxes or any real estate taxes, then such taxes will not be required to be paid to cure the loan defaults.
IV.
The sums owing on the obligations secured by the Deed of Trust are: Principal: $562,010.00, together with unpaid accrued interest (including default interest) as provided under the Note or other instrument secured as referenced above from June 1, 2023, and together with such other advances, costs and fees as are due under the Note or other instrument secured and as are provided by statute.
V.
The above-described Property will be sold to satisfy the expense of sale and the obligations secured by said Deed of Trust as provided by statute. The sale will be made without warranty, express or implied, regarding title, possession, or encumbrances on MAY 24, 2024. The defaults referred to in Paragraph III must be cured by MAY 13, 2024 (11 days before the sale date), to cause a discontinuance of the sale. The sale will be discontinued and terminated at any time on or before MAY 13, 2024 (11 days before the sale date), if the defaults as set forth in Paragraph III are cured and the Trustee’s fees and costs are paid. The sale may be terminated any time after MAY 13, 2024, (11 days before the sale date), and before the sale, by the Borrower, Grantor, any Guarantor, or the holder of any recorded junior lien or encumbrance paying the unpaid principal and accrued default interest, plus other charges, costs, fees, and advances referred to in Paragraph III, made pursuant to the terms of the obligations secured by the Deed of Trust and curing all other defaults.
VI.
A written Notice of Default was transmitted by the Beneficiary or Trustee to the Borrower, Grantor and Guarantors at the following addresses:
BT Property Investments, LLC
Ben Tran, aka Binh Tran
Spouse of Ben Tran, aka Binh Tran
Occupants At: 1719 South 58th Street
Tacoma, WA 98408
BT Property Investments, LLC
Ben Tran, aka Binh Tran
Spouse of Ben Tran, aka Binh Tran At: 35109 Pacific Hwy S
Federal Way, WA 98003
BT Property Investments, LLC
ATTN: Binh Tran, Registered Agent
Ben Tran, aka Binh Tran
Spouse of Ben Tran, aka Binh Tran At: 34211 Pacific Hway S.
Federal Way, WA 98003
BT Property Investments, LLC
Ben Tran, aka Binh Tran
Spouse of Ben Tran, aka Binh Tran At: 33516 9th AVE S, Suite 8
Federal Way, WA 98003
by both first class and certified mail on September 15, 2023, proof of which is in the possession of the Trustee; and the Notice of Default was posted in a conspicuous place on the Real Property described in paragraph I above on September 19, 2023, and the Trustee has in its possession proof of such posting.
VII.
The Trustee whose name and address are 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 objections to this 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 R.C.W. 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
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. For tenant-occupied property, the purchaser shall provide a tenant with written notice in accordance with RCW 61.24.060.
XI.
NOTICE TO GUARANTORS:
Any guarantor of the obligations secured by the Deed of Trust may be liable for a deficiency judgment to the extent the sale price obtained at the trustee’s sale is less than the debt secured by the Deed of Trust. All guarantors have the same rights to reinstate the debt, cure the default or repay the debt as is given to the Grantor and Borrower in order to avoid the trustee’s sale. Any guarantor will have no right to redeem the Property after the trustee’s sale. Subject to such longer periods as are provided in the Washington Deeds 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. In any action for a deficiency, a guarantor 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 interests and costs.
DATED February 7, 2024.
RAINIER TRUSTEE SERVICES, INC.,
Trustee
By: /s/ Mark J. Rosenblum
Mark J. Rosenblum, Secretary/Treasurer
Rainier Trustee Services, Inc. c/o
SCHWEET LINDE & ROSENBLUM, PLLC
575 S. Michigan Street
Seattle, WA 98108
(206) 275-1010
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
On this day before me, the undersigned, a Notary Public in and for the State of Washington, duly commissioned and sworn, personally appeared MARK J. ROSENBLUM to me known to be the Secretary/Treasurer of Rainier Trustee Services, Inc. (the “Corporation”), the Corporation that executed the foregoing AMENDED NOTICE OF TRUSTEE’S SALE, and acknowledged the said instrument to be the free and voluntary act and deed of said Corporation, for the uses and purposes therein mentioned and on oath stated that he is authorized to execute the said instrument.
Given under my hand and official seal on February 7, 2024.
/s/ Maureen A. Fitzgerald
Maureen A. Fitzgerald
Notary Public in and for theState of Washington, residing at: Puyallup
My commission expires: 9/27/2024
EXHIBIT A
ADDITIONAL PROPERTY
All buildings, structures and other improvements now or hereafter erected on the Property, and all facilities, fixtures, machinery, apparatus, installations, goods, furniture, and equipment, and other properties of whatsoever nature (including, without limitation, all heating, ventilating, air conditioning, plumbing and electrical equipment, all elevators and escalators. All sprinkler systems, all engines and motors, all lighting, laundry, cleaning, fire prevention and fire extinguishing equipment, all ducts and compressors, all refrigerators, stoves and other appliances, attached cabinets, partitions, rugs, carpets, blinds and draperies, all building materials and supplies, and all construction materials and equipment), now or hereafter located in or used or procured for use in connection with that property, it being the intention of the parties that all property of the character hereinabove described with is now owned or hereafter acquired by Grantor and which is affixed or attached to or used in connection with the Property shall be, remain and/or become a portion of that property and shall be covered by and subject to the lien of the Deed of Trust, together with all contracts, agreements, permits, plans, specifications, drawings, surveys, engineering reports and other work products relating to the construction of the existing or any future improvements on the Property, any and all rights of Grantor in, to or under any architect’s contracts or construction contracts relating to the construction of the existing or any future improvements on the Property, and any performance and/or payment bonds issued in connection therewith together with any and all rights of Grantor, without limitation, to make claim for, collect, receive any receipt for any and all rents, income, revenues, issued, royalties, profits, including mineral, oil and gas rights and profits, insurance proceeds, condemnation awards and other moneys payable or receivable from or on account of any of the foregoing, including interest thereon, or to enforce all other provisions of any agreement (including those referred to above) affecting or relating to any of the foregoing.
IDX-994669
April 26, May 17, 2024
