RE: Island View Properties, LLC Document Title: Notice of Trustee's Sale Reference Nos. of Documents Assigned or released: 200304041138 Grantor: Island View Properties, LLC Grantee:Blackbird Island View, LLC Legal Description (abbreviated): Lots 1-13, Plat of Island View Full legal description on Page A-1. Assessor's Tax Parcel Nos.: 300802010, 300802020, 3008020030, 3008020040, 3008020050, 3008020060, 3008020070, 3008020080, 3008020090, 3008020100, 3008020110, 3008020120, 3008020130 NOTICE OF TRUSTEE'S SALE Pursuant to the Revised Code of Washington, Chapter 61.24 RCW TO: Island View Properties, LLC c/o H. Thomas Wick, Member/Manager of Base Capital, LLC, Manager of Island View Properties, LLC 411 108th Ave NE, Suite 1970 Bellevue, WA 98004 Island View Properties, LLC c/o Roger Tanabe, Reg. Agent 11415 Slater Ave NE, Suite 100 Kirkland, WA 98033 Pivotal Solutions, Inc. c/o Richard Hooper 451 SW 10th Street, Suite 107 Renton, WA 98057 Securities Properties Inc. c/o James Brown 2212 Queen Anne Ave. North, #134 Seattle, WA 98109 I. NOTICE IS HEREBY GIVEN that the undersigned Successor Trustee will on the 21ST day of June, 2013, at the hour of 10:00 a.m., at the Tacoma Avenue entrance to the County-City Building, 930 Tacoma Avenue South, in the City of Tacoma, State of Washington, sell at public auction to the highest and best bidder, payable at the time of sale, the following described real property, situated in the County of Pierce, State of Washington, to-wit: SEE LEGAL DESCRIPTION ON ATTACHED EXHIBIT A. (more commonly known as 930-950 7th Court, Island Blvd., Fox Island, WA), which is subject to that certain Deed of Trust dated March 31, 2003, and recorded under Auditor's/Recorder's No. 200304041138, records of Pierce County, Washington, from Island View Properties LLC, as Grantor, to Richard J. Powers, as Trustee, to secure an obligation in favor of James Brown, as Beneficiary, which Deed of Trust was modified by instrument recorded 8/16/04 under Pierce County Recorder's No. 200408160176, and by instrument recorded 3/1/05 under Pierce County Recorder's No. 200503010072, and by instrument recorded 12/22/05 under Pierce County Recorder's No. 200512221122, and assigned to The Commerce Bank of Washington by that certain Assignment of Note and Deed of Trust dated September 1, 2009, recorded under Pierce County Recorder's No. 200909090968 and re-recorded because of a missing notary stamp on May 13, 2010 under Pierce County Recorder's No. 201005130443 and assigned by Commerce Bank to James F. Brown by that certain Re-Assignment of Note and Deed of Trust dated 2/28/13 and recorded on March 5, 2013, under Pierce County Recorder's No. 201303050985. The beneficial interest in the Deed of Trust was then assigned by James F. Brown to Blackbird Island View LLC, by Assignment recorded 3/14/13 under Pierce County Recorder's No. 201303140401. 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 default on the obligation secured by the Deed of Trust. III. The default(s) for which this foreclosure is made is/are as follows: Failure to pay when due the following amounts which are now in arrears: Principal balance on promissory notes^$5,500,000.00 Unpaid interest at note rate of 3.75%, 8/1/2009-9/1/2011^435,992.12 Default date: 9/1/2011 Unpaid interest at note rate, 9/1/2011-2/28/2013 (compounded monthly)^321,962.05 Unpaid interest 3/1/2013-3/15/2013 at $606.46 per diem^ 9,069.90 SUBTOTAL:^$6,267,024.07 Posting, mailing Notice of Default^$229.40 Trustee's Sale Guarantee^6,285.30 Attorney's/Trustee's fee^1,500.00 TOTAL AMOUNTS IN DEFAULT:^$6,275,038.77 Other Defaults: Payment of Delinquent real property taxes as follows (not including any penalties or interest): 2012 taxes in the amount of $8,166.09 IV. The sums owing on the obligations secured by the Deed of Trust are: principal $5,500,000.00 together with interest at the note rate in the amount of $767,024.07 from 8/1/2009, which will continue to accrue as provided in the promissory notes, and such other costs and fees as are due under the note or other instrument secured, and as are provided by statute. 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 statute. The sale will be made without warranty, express or implied, regarding title, possession, or encumbrances on the 21st day of June, 2013. The defaults referred to in paragraph III must be cured by the `10th day of June, 2013 (11 days before the sale date) to cause a discontinuance of the sale. The sale will be discontinued and terminated if at any time on or before the 10th day of June, 2013 (11 days before the sale date) the defaults as set forth in paragraph III are cured and the Successor Trustee's fees and costs are paid. The sale may be terminated any time after the 10th day of June, 2013 (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 entire principal and interest secured by the Deed of Trust, plus costs, attorney fees, and advances, if any, made pursuant to the terms of the obligation and/or Deed of Trust and curing all other defaults. This is an attempt to collect a debt and any information obtained will be used for that purpose. VI. A written notice of default was transmitted by the Beneficiary or Successor Trustee to the Borrower and Grantor at the following addresses: via first class & certified mail: Island View Properties LLC c/o H. Thomas Wick, Member/ Manager of Base Capital, LLC, Manager of Island View Properties LLC 411 108th Ave NE, Suite 1970 Bellevue, WA 98004 via first class & certified mail: Base Capital, LLC c/o Dick Hooper Pivotal Solutions Inc. 451 SW 10th Street, Suite 107 Renton, WA 98057 via first class mail only: H. Thomas Wick P.O. Box 759 Kirkland, WA 98083 on the 21st day of December, 2012, proof of which is in the possession of the Successor Trustee; and the Borrower and Grantor were personally served on the 27th day of December, 2012, or the written notice of default was posted in a conspicuous place on the real property described in paragraph I above, and the Successor Trustee has possession of proof of such service or posting. VII. The Successor 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 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 Successor Trustee's sale. X. Notice to Guarantors (1) The Guarantor 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; (2) the Guarantor has the same right to reinstate the debt, cure the default, or repay the debt as is given to the Grantor in order to avoid the Trustee's Sale; (3) the Guarantor will have no right to redeem the property after the Trustee's Sale; (4) 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 (5) in any action for a deficiency, the 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 its lia
bility 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. DATE: March 14, 2013. WOLFSTONE, PANCHOT & BLOCH, P.S., INC. Successor Trustee By /s/ Andrew Rapp 1111 Third Avenue, Suite 1800 Seattle, WA 98101 (206) 682-3840 STATE OF WASHINGTON) ss COUNTY OF KING) I certify that I know or have satisfactory evidence that Andrew Rapp is the person who appeared before me, and said person acknowledged that he signed this instrument, on oath stated that he was authorized to execute the instrument, and acknowledged it as an authorized signer for Wolfstone, Panchot & Bloch, P.S., Inc., to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED March 14, 2013. [print name] NOTARY PUBLIC in and for the State of Washington, residing at Seattle My appointment expires 3/16/ 15 EXHIBIT A LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF PIERCE, STATE OF WASHINGTON, AND IS DESCRIBED AS FOLLOWS: THAT PORTION OF THE FOLLOWING DESCRIBED PROPERTY LYING SOUTHERLY OF ISLAND BOULEVARD (FOX ISLAND COUNTY ROAD) IN SECTIONS 1 AND 2, TOWNSHIP 20 NORTH, RANGE 1 EAST OF THE WILLAMETTE MERIDIAN, IN PIERCE COUNTY, WASHINGTON: COMMENCING AT THE NORTHWEST CORNER OF THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 2 AND ALSO BEING THE TRUE POINT OF BEGINNING OF THIS DESCRIPTION; THENCE ALONG THE NORTH LINE OF SAID NORTHEAST QUARTER OF THE SOUTHEAST QUARTER, SOUTH 88ø39'57" EAST FOR A DISTANCE OF 1319.34 FEET TO THE QUARTER CORNER COMMON TO SAID SECTIONS 1 AND 2; THENCE ALONG THE LINE COMMON TO SAID SECTIONS 1 AND 2, SOUTH 01ø50'11" WEST FOR A DISTANCE OF 884.56 FEET TO THE NORTHWEST CORNER OF THE SOUTH 26.67 ACRES OF THE WEST HALF OF THE WEST HALF OF THE SOUTHWEST QUARTER OF SAID SECTION 1; THENCE ALONG THE NORTH LINE OF SAID SOUTH 26.67 ACRES, SOUTH 88ø56'57" EAST FOR A DISTANCE OF 661.23 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 26.67 ACRES; THENCE ALONG THE EAST LINE OF THE WEST HALF OF THE WEST HALF OF THE SOUTHWEST QUARTER OF SAID SECTION 1, SOUTH 01ø51'40" WEST FOR A DISTANCE OF 1758.12 FEET TO A POINT ON THE SOUTH LINE OF SAID SOUTHWEST QUARTER OF SECTION 1; THENCE ALONG THE SAID SOUTH LINE, NORTH 88ø56'57" WEST FOR A DISTANCE OF 91.74 FEET; THENCE ALONG A LINE THROUGH THE WEST HALF OF THE WEST HALF OF THE SOUTHWEST QUARTER OF SAID SECTION 1 AND GOVERNMENT LOT 4 OF SAID SECTION 2 AND THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 2 THE FOLLOWING COURSES AND DISTANCES: NORTH 03ø30'55" WEST FOR A DISTANCE OF 118.11 FEET; NORTH 27ø56'30" WEST FOR A DISTANCE OF 149.84 FEET; NORTH 50ø09'19" WEST FOR A DISTANCE OF 112.56 FEET; NORTH 65ø47'24" WEST FOR A DISTANCE OF 68.14 FEET; NORTH 86ø04'07" WEST FOR A DISTANCE OF 152.13 FEET; SOUTH 86ø33'55" WEST FOR A DISTANCE OF 118.18 FEET; SOUTH 65ø35'14" WEST FOR A DISTANCE OF 92.57 FEET; NORTH 46ø00'58" WEST FOR A DISTANCE OF 254.14 FEET; NORTH 44ø23'54" WEST FOR A DISTANCE OF 194.05 FEET; NORTH 18ø42'58" WEST FOR A DISTANCE OF 196.49 FEET; NORTH 42ø48'37" WEST FOR A DISTANCE OF 110.04 FEET; NORTH 20ø31'57" WEST FOR A DISTANCE OF 235.17 FEET; NORTH 82ø50'45" WEST FOR A DISTANCE OF 352.23 FEET; NORTH 46ø38'45" WEST FOR A DISTANCE OF 165.21 FEET; NORTH 53ø47'12" WEST FOR A DISTANCE OF 120.31 FEET; NORTH 70ø48'34" EAST FOR A DISTANCE OF 59.47 FEET; NORTH 10ø03'43" EAST FOR A DISTANCE OF 320.96 FEET; AND NORTH 60ø14'17" WEST FOR A DISTANCE OF 291.00 FEET TO A POINT ON THE WEST LINE OF THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 2; THENCE ALONG THE SAID WEST LINE, NORTH 01ø32'46" EAST FOR A DISTANCE OF 762.28 FEET; THENCE LEAVING SAID WEST LINE, NORTH 87ø46'52" EAST FOR A DISTANCE OF 39.48 FEET, MORE OR LESS, TO A POINT WHICH BEARS SOUTH 21ø39'09" EAST FROM THE TRUE POINT OF BEGINNING; THENCE NORTH 21ø39'09" WEST FOR A DISTANCE OF 100.00 FEET TO THE TRUE POINT OF BEGINNING AND THE TERMINUS OF THIS DESCRIPTION; (NOW KNOWN AS ALL LOTS AND ALL TRACTS OF THE PLAT OF ISLAND VIEW, AS PER PLAT RECORDED APRIL 20, 2011 UNDER RECORDING NO. 201104205006.) SITUATE IN THE COUNTY OF PIERCE, STATE OF WASHINGTON. May 17, June 7