Re: Reid, Daniel NOTICE OF TRUSTEE'S SALE Reference No.: 200811070157 (200702270910) Grantor: Daniel A. Reid, an unmarried man Grantee: 2010-1 RADC/CADC Venture, LLC, a Delaware limited liability company, and successor in interest to Federal Deposit Insurance Corporation in its capacity as Receiver for Westsound Bank Legal Description: PTN GOV LOT 2, 31-20-3, PIERCE COUNTY, STATE OF WASHINGTON Assessor's Tax Parcel No.: 03-20-312-108 Pursuant to the Revised Code of Washington, Chapter 61.24: I NOTICE IS HEREBY GIVEN that the undersigned Trustee (the "Trustee") will on August16, 2013 at 10:00 a.m., outside the second floor entry plaza, County-City Building, located at 930 Tacoma Avenue S., 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 and personal property, situated in the County of Pierce, State of Washington: BEGINNING ON THE EAST LINE OF HIGHWAY 99 AND A LINE PARALLEL WITH AND 1116 FEET NORTH OF THE SOUTH LINE OF GOVERNMENT LOT 2, SECTION 31, TOWNSHIP 20 NORTH, RANGE 3 EAST OF THE WILLAMETTE MERIDIAN; THENCE ON SAID PARALLEL LINE EAST 205 FEET; THENCE SOUTH PARALLEL WITH SAID EAST LINE OF SAID HIGHWAY 99, 60 FEET; THENCE WEST PARALLEL WITH SAID SOUTH LINE OF GOVERNMENT LOT 2, 205 FEET TO SAID EAST LINE OF HIGHWAY 99; THENCE NORTH ALONG SAID EAST LINE 60 FEET TO THE POINT OF BEGINNING. TOGETHER WITH THE EAST 80 FEET OF THE WEST 205 FEET OF THE FOLLOWING DESCRIBED PROPERTY: BEGINNING ON THE EAST LINE OF HIGHWAY 99 AND A LINE PARALLEL WITH AND 1116 FEET NORTH OF THE SOUTH LINE OF GOVERNMENT LOT 2, SECTION 31, TOWNSHIP 20 NORTH, RANGE 3 EAST OF THE WILLAMETTE MERIDIAN; THENCE ON SAID PARALLEL LINE EAST 205 FEET; THENCE PARALLEL WITH SAID EAST LINE OF HIGHWAY 99 NORTH 174 FEET, MORE OR LESS, TO THE SOUTH LINE OF SOUTH 84TH STREET; THENCE ON SAID SOUTH LINE OF 84TH STREET WEST 205 FEET TO SAID EAST LINE OF HIGHWAY 99; THENCE ON SAID HIGHWAY LINE SOUTH 173.37 FEET TO THE POINT OF BEGINNING. EXCEPT THE NORTH 5 FEET DEEDED TO PIERCE COUNTY BY DEED RECORDED UNDER RECORDING NUMBER 9105290138. (BEING PARCEL A OF BOUNDARY LINE REVISION RECORDED UNDER RECORDING NUMBER 9104090235) SITUATE IN THE CITY OF LAKEWOOD, COUNTY OF PIERCE, STATE OF WASHINGTON. TOGETHER WITH all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all diversion payments or third party payments made to crop producers, and all existing and future improvements, structures, fixtures and replacements that may now, or at any time in the future, be part of the real estate describe above, and any and all water wells, water, ditches, reservoirs, reservoir sites and dams located on the real estate and all riparian and water rights associated with the Property; TOGETHER WITH all existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, including but not limited to, any extensions, renewals, modifications or replacements; TOGETHER WITH rents, issues and profits, including but not limited to, security deposits, minimum rents, estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, loss of rents, insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claims which Grantor may have that in any way pertain to or are on account of the use or occupancy of the whole or any part of the Property; TOGETHER WITH all farm products, inventory, equipment, accounts, documents, instruments, chattel paper, general intangibles, and all other items of personal property; and TOGETHER WITH all of the Grantor's right, title, and interest in and to all leases, rents and profits of all of the real property. All of the above is collectively referred to as the "Property". The tax parcel number and abbreviated legal description are provided solely to comply with the recording statutes and are not intended to supplement, amend or supersede the Property's full legal description provided herein. The Property is subject to a Real Estate Deed of Trust recorded February 27, 2007, and re-recorded November 7, 2008 to correct signature page and legal description, under recording nos. 200702270910 and 200811070157, respectively, records of Pierce County, Washington (the "Deed of Trust"), from Daniel A. Reid, an unmarried man ("Grantor") as Grantor, in favor of Rainier Title as initial Trustee, and Westsound Bank as initial beneficiary. The beneficial interest is now held by 2010-1 RADC/ CADC Venture, LLC, a Delaware limited liability company (the "Beneficiary"), successor in interest to Federal Deposit Insurance Corporation ("FDIC") in its capacity as Receiver for Westsound Bank by that certain Assignment of Real Estate Deed of Trust recorded December 1, 2010 and re-recorded April 28, 2011 to correct the legal description, under recording nos. 201012010391 and 201104280370, respectively, records of Pierce County. The Deed of Trust secures the total principal amount of the Secured Debt (as defined in the Deed of Trust), in the maximum amount of $100,000.00, plus interest, loan charges, commitment fees, brokerage commissions, attorney's fees and other charges made pursuant to the Deed of Trust, which Secured Debt is evidenced by that certain Universal Note dated February 6, 2007, in the principal amount of $763,750.00 (the "Note"), executed by Reid-Dallas, LLC ("Borrower") as maker in favor of Westsound Bank as payee. The Beneficiary is the owner and holder of the Note and the other obligations secured by the Deed of Trust. Reference is made to Section 19 of the Deed of Trust entitled "Environmental Laws and Hazardous Substances". As set forth therein, the terms of Section 19 shall survive any foreclosure or satisfaction of the Deed of Trust, and a foreclosure of the Property does not foreclose, affect or impair Grantor's obligations under Section 19 of the Deed of Trust. All obligations of Borrower owed to the Beneficiary are guaranteed unconditionally by Daniel A. Reid and Esther S. Reid (collectively, the "Guarantors") under those certain Guarantees dated February 6, 2007 (the "Guarantees"). Unless otherwise specified in any subsequent notice from Beneficiary or the Trustee under the Deed of Trust, any Trustee's sale held pursuant to this Notice of Trustee's Sale and any subsequent Notice of Trustee's Sale will be a unified sale of all of the Property, real and personal, pursuant to RCW 62A.9A.604(a)(2). 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 loan matured and was due and payable in full on August 10, 2008. The defaults for which this foreclosure is made are as follows. Failure to pay when due the following amounts which are now in arrears: CURRENTLY DUE TO PAY OFF AS OF MAY 3, 2013 ^AMOUNT (a) Principal balance^$690,934.66 (b) Interest at 9.750% from 8/10/08-5/3/2013^318,743.30 (c) Late charges of 5%^34,546.73 TOTAL^$1,044,224.69 CHARGES, COSTS AND FEES (a) Trustee's expenses for DOT 200702270909/ 200811070156 ^$4,075.82 (b) Advances by Beneficiary Previous legal fees:^$5,082.49 Taxes: ^$53,515.18 Preliminary title search:^$500.00 Miscellaneous: ^$538.23 ^59,635.90 (c) Trustee's fees and charges^2,500.00 (estimated) (d) Trustee's sale guarantee^498.23 (e) Service/posting of notices^160.00 (estimated) (f) Postage/copying expense^675.00 (estimated) (g) Recording fees^100.00 ^(estimated) TOTAL CHARGES, COSTS AND FEES ^$67,644.95 ^(estimated) TOTAL ESTIMATED AMOUNT TO PAY OFF AS OF MAY 3, 2013^$1,111,869.64 ^(estimated) Default(s) other than failure to make monthly payments: Delinquent General Taxes for 2012
for Tax Parcel No. 03-20-31-2-108 in the amount of $12,540.36, plus applicable interest and penalties. Delinquent General Taxes for 2013 for Tax Parcel No. 03-20-31-2-108 in the amount of $10,404.58, plus applicable interest and penalties. The foregoing amounts will increase with the passage of time. You should contact the undersigned Trustee for a current reinstatement amount. If any other events of default under the Deed of Trust exist at any time prior to reinstatement, they must also be cured in order to reinstate the Deed of Trust. IV The total principal amount of the Secured Debt secured by the Deed of Trust is $100,000.00, together with interest as provided in the underlying loan documents and such other costs and fees as are due under the Note and the other loan documents 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 the Deed of Trust as provided by statute. The sale will be made without warranty, express or implied, regarding title, possession, or encumbrances on August 16, 2013. The defaults referred to in Paragraph III must be cured before the date and time of sale. The sale may be terminated any time 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, fees, and advances, if any, made pursuant to the terms of the obligation and/or the Deed of Trust, paying all other amounts owing on the obligations secured by the Deed of Trust, and curing all other defaults. VI A written Notice of Default was transmitted by the Trustee to the Borrower, Grantor and Guarantors at the following addresses: Reid-Dallas, LLC 3512 S. 84th Street Lakewood, WA 98499 Daniel A. Reid Esther S. Reid 3512 S. 84th Street Lakewood, WA 98499 Daniel A. Reid Esther S. Reid 5406 78th Avenue Ct. W Tacoma, WA 98467 Reid-Dallas, LLC Attn: Brian T. Comfort Registered Agent 3572 S. 84th Street Lakewood, WA 98499 by both first class mail and certified mail on April 1, 2013, proof of which is in the possession of the Trustee; and on April 2, 2013 the written Notice of Default was posted in a conspicuous place on the Property described in paragraph I above, and the Trustee has possession of 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. Michael D. Bohannon, PLLC, Trustee 19586 10th Avenue NE, Suite 300 P. O. Box 2326 Poulsbo, WA 98370 (360) 779-6665 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 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. For tenant-occupied property, the purchaser shall provide a tenant with written notice in accordance with RCW 61.24.060. XI NOTICE TO GUARANTORS (1) 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 debt secured by the Deed of Trust; (2) the Guarantors have the same rights to cure the default and repay the debt as is given to the Grantor in order to avoid the Trustee's sale; (3) the Guarantors 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 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 its 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. XII RELATED DEED OF TRUST AND NOTICE OF TRUSTEE'S SALE Beneficiary reserves the right to mail, post, record, publish and otherwise give a separate notice of trustee's sale (the "Related Notice of Trustee's Sale") pursuant to Revised Code of Washington chapter 61.24 under the following (as the same may have been modified or amended, the "Related Real Estate Deed of Trust"): a Real Estate Deed of Trust recorded on February 27, 2007 and re-recorded November 7, 2008, under recording nos. 200702270909 and 200811070156, respectively, records of Pierce County, Washington. The Related Real Estate Deed of Trust secures the same obligations secured by the Deed of Trust described in Section III of this Notice of Trustee's Sale. The payment of the obligations described in Section III of this Notice of Trustee's Sale will constitute payment of the obligations described in Section III of the Related Notice of Trustee's Sale and vice versa. DATED May 8, 2013. MICHAEL D. BOHANNON, PLLC, Trustee /s/ Michael D. Bohannon MICHAEL D. BOHANNON, Manager For further information please call (360) 779-6665 STATE OF WASHINGTON) ss. County of Kitsap) I certify that I know or have satisfactory evidence that MICHAEL D. BOHANNON 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 acknowledge it as the Managing Member of Michael D. Bohannon, PLLC, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. GIVEN under my hand and official seal this 8th day of May, 2013. /s/ Melissa S. Colletto Printed Name: Melissa S. Colletto NOTARY PUBLIC in and for the State of Washington Residing at: Poulsbo, WA My Commission Expires: 10/19/ 13 July 16, August 6
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