The Velvet Slipper CZC 05-065 p ~ ~-
• •
HUB OFTREASURE VALLEY
MAYOR A Good Place to Live LEGAL DEPARTMENT
Tammy deWeerd
CITY OF MERIDIAN (208) 888-4433 • Fax 887-4813
PUBLIC WORKS
CITY coUNCIL MEMBER BUII,DING DEPARTMENT
Keith Bud 33 EAST IDAHO (208) 887-2211 • Fax 887-1297
Christine Donnell MERIDIAN IDAHO 83642
Shaun Wazdle (208) 88811433 • FAX (208) 887-4813 PLANNING AND ZONING
Chazles M. Rountree City Clerk Qffice Fax (208) 888218 DEPARTMENT
(208) 884-5533 • FAX 888-6854
CERTIFICATE OF ZONING COMPLIANCE ~®
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Date: May 20, 2005 ~'`~~j •
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Owner: Randy Arnzen
Applicant: Josie Lee
Project Name: The Velvet Slipper
Project Address: 1311 N. Main Street
Proposed Use: 1200 s.f. retail store
Zoning:
Comments:
Conditions of Approval: The issuance of this permit does not release the applicant from any requirements of
Meridian City Code.
Si na e: No signs are approved with this CZC. All signs will require a separate sign permit in
compliance with the sign ordinance.
Site Plan: The Site Plan is approved per Sheet "Site Plan for The Velvet Slipper" (dated 5/2/05, by
Master's Touch Landscaping), stamped "approved" on 5/20/05. The site plan is not to be
altered without prior written approval of the Planning and Zoning Department.
Landscape Plan: The Landscape Plan is approved per "Site Plan for The Velvet Slipper" (dated
5/2/05, by Master's Touch Landscaping), stamped "approved" on 5/20/05, with the
following change (see redline on plan): Add one (1 Honeylocust tree along Main Street to
match the existins? tree. The tree shall be a minimum of a 2" caliper and shall be planted no
closer than ten (10) lateral feet to the overhead power line. The landscape plan is not to be
altered without prior written approval of the Planning and Zoning Department. No field
changes to the landscape plan are permitted; prior written approval of all material changes is
required.
Undeveloped Property: The undeveloped portion of this site must be kept mowed and free from
weeds over 8" in height. No parking, outdoor storage or other use is permitted on the
undeveloped portion of the lot without approval from the City of Meridian.
Parkin :The parking area shall be paved and striped in accordance with MCC 11-13-4. Project
engineer/architect shall certify that the number and size of handicap-accessible spaces
• !
conforms to the Americans with Disabilities Act (ADA). Handicap accessible stalls must have
signage in accordance per ADA.
Irri ation: An underground, pressurized irrigation system must be installed to all landscape areas per
the specifications provided.
Curbin :Per Ordinance 12-13-7-9, all landscape areas adjacent to driveways, parking lots, or other
vehicle use areas, must be protected by curbing, wheel stops, or other approved protective
devices. Curbing may be cut to allow for storm water runoff.
Li htin :Lighting shall not cause glare or impact the traveling public or neighboring development.
Sidewalks: All sidewalks shall be constructed as shown on the approved Site Plan and in accordance
with the Meridian City Code requirements (MCC 12-5-Z.K). Sidewalks shall be constructed
prior to occupancy of the permanent building.
Handicap-Accessibility: The structure, site improvements and parking must be in compliance with all
federal handicap-accessibility requirements.
ACHD Acceptance: Applicant shall be responsible for meeting the requirements of ACRD as they
pertain to this development. All impact fees, if any, shall be paid prior to the issuance of a
building permit. If any changes must be made to the site plan to accommodate the ACRD
requirements, a new site plan shall be submitted to the City of Meridian Planning and Zoning
staff for approval prior to the issuance of a building permit.
Certificate of Occupancv: All required improvements must be complete prior to obtaining a
Certificate of Occupancy. A Temporary Certificate of Occupancy may be obtained by
providing surety to the City in the form of a Letter of Credit or cash in the amount of 110%
of the cost of the remaining improvements. A bid must accompany any request for
Temporary Occupancy.
Plan Modifications: The approved Site Plan and Landscape Plan, stamped 5/20/05, are not to be
altered without prior written approval of the Planning & Zoning Department. No significant
field changes to the site or landscape plan is permitted; prior written approval of all
changes is required.
~~
sh Wilso
Associate Planner
*This letter does not indicate compliance with requirements of other departments/agencies, including, but not limited to,
Ada County Highway District, Central District Health Deparhnent, affected irrigation district(s), Meridian Sewer,
Water, Building or Fire Departments, Sanitary Services Co., etc. This letter shall expire one (1) year from the date of
issuance if work has not begun.
•
TO: Josie Lee
1311 N Main Street
Meridian, ID 83642
SUBJECT : MCZC-05-065
Retail Store
1311 N Main Street
June 1, 2005
John S. Franden, President
Sheny R. Huber, 1st Vice President
David Givens, 2nd Vice President
Carol A. McKee, Commissioner
Rebecca W. Amold, Commissioner
k
In response to your request for comment, the Ada County Highway District (ACRD) staff has reviewed
the submitted application and site plan for the item referenced above. It has been determined that the
Right-of-Way and Development Services Department does not have any site specific requirements for
you at this time due to the fact that all roadway improvements are in place at this time.
You will need to submit final plans to the ACRD Development Review Department prior to
receiving final approval.
A traffic impact fee will be assessed by ACRD and will be due prior to the issuance of a building
permit or occupancy. Contact ACRD Planning 8~ Development Services at 387-6170 for
information regarding impact fees.
If the site plan or use should change in the future, ACRD will review the site plan and may require
improvements to the transportation system at that time.
If you have any questions, please feel free to contact me at (208) 387-6171.
Sincerely,
!r%~~~
Karen Anderson
Planner 1, Planning Division
Right-of-Way and Development Services
cc: Project Fite, Construction Services
Meridian City
Randy Arnzen
1303 N Main Street
Meridian, ID 84642
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CHD
~o.w.w,7~`acl ~0 5'r~ro
Right-of--Way & Development Department
Planning Review Division
Ada County Highway District • 3775 Adams Street • Garden City, ID • 83714 • PH 208-387-6100 • FX 345-7650 • ww-w.achd.ada.id.
•
EXI-IIBIT B
Proposed Property Use: Ladies Retail Clothing Store ~c~t~G~ i~ U5~ ~n~ )
Name: The Velvet Slipper/Josie Lee ~ "'~
10 Parking Stalls
Building Size: 1200 Sq. Ft. of Retail space on main level
900 Sq. Ft. of Storage space in basement
Field in back will be mowed to keep weeds down, otherwise in will be
untouched.
Trash is currently being picked up on Wednesday mornings by the local trash
company. SSG/City of Meridian. Trash is contained in a small green trash
can.
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CITY OF
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33 E. Idaho Ave.
ti Meridian, ID 83642
Date ~ d ' ~~
Applicant
Address
Phone
CASH CHECK # NAME ON CHECK IF DIFFERENT THAN APPLICANT
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PAYMENT DOES NOT INDICATE ACCEPTANCE OF APPLICATION
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CITY OF MERIDIAN
Planning & Zoning Department
660 E. Watertower Ln., Ste. 202, Meridian, ID 83642
(208)884-5533 Phone / (208)888-6854 Fax
f'FRTTFTCATF nF 7,nNTNG CnMPT TAN('F (C'7C'1 APPT T('ATTnN
(Section 11-19-1, Zoning and Development Ordinance)
PROJECT NAME:.
APPLIC
ADDRE
PHONE:
OWNER
ADDRE:
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PHONE: ~~~ ~ -~j ~~:~ FAX:
E-MAIL:
ARCHITECT (IF DIFFERENT THAN APPLICANT): ~ J ~'
ADDRESS:
PHONE:
FAX: E-MAIL
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ADDRESS, GENERAL LOCATION OF SITE: 1 ~ ~~ ~. ~ L ~~
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TOWNSHIP, RANGE, AND SECTION: ~ ~ t", k! .~ ~.~ ~t-f -T~
DESCRIPTION OF USE: ~ l..
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PRESENT ZONE CLASSIFICATION: ~~~~~" </'~~~.- ~~
~; - -~~-' , do hereby affirm that I will agree to pay any additional sewer, water or trash
fees or harges, if any, associated with the use that Uwe have applied for, whether the use be residential, commercial
or industrial in nature. Furthermore, I have read the information contained herein and certify that the information is
true and correct.
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icant's Signature) (Date)
AFFIDAVIT OF LEGAL IN~ST
STATE OF IDAHO )
COUNTY OF ADA )
I, .ti ~ rti- ~ ~, ) ~~ 0.3 /Z-~ ~~ ~ ~.. ~~
(name) (address)
r--~ 1 l being first duly sworn upon
__~._ C`~ 2~ {~ 0 oath, depose and say:
(city) (state)
That I am the record owner of the property described on the attached, and I grant my
permission to:
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(name) (address) ` e. Y ; Q ~ 2y •,~, ~~c1~
to submit the accompanying application pertaining to that property. ~~ ~ /~
I agree to indemnify, defend and hold the City of Meridian and it's employees harmless
from any claim or liability resulting from any dispute as to the statements contained
herein or as to the ownership of the property, which is the subject of the application.
Dated this fir ~ day of , 20~.
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(Signature)
SUBSCRIBED AND SWORN to before me the day and year first above written.
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•
% ~ EXHIBIT A
That portion of Block 3, F.A. Noursc's Third Addition to Meridian, filed in Book 6 of Plats at
Page 289, records of Ada County, Idaho, more particularly described as follows:
Commencing at the Northwest comer of the South half of Block 3 of Nourse's Third Addition to
Meridian, in Ada County, State of Idaho; thence
South along the West end on ssid Block 3 a distance of 83 feet; thence
East parallel with the North side of said Block 3 to the East end of said Block 3; thence
North along the East end of said Block 3 a distance of 83 feet; thence
West along the center line of said Block 3 to the PLACE OF BEGINIIING.
EXCEPTING THEREFROM:
Commencing at ilte Northwest corner of the South half of Bbck 3 of Nottrse's Third Addition to
Meridian, in Ada County, Stan of Idaho; thence
South along the West end of said Block 3 a distance of 83 feet to a poitrt; thtace
East parallel with the North side of said Block 3 e distance of 120 fcet w a point, thence
North parallel with the East side of said Block 3 a distance of 83 fcet to a point; thence
West along the center line of said Block 3 a distance of 120 feet to the PLACE OF BEGINNING.
1`~ v ~ ~ ~ ,
REC7RDATION REQUESTED BY:
FARMERS & MERCHANTS STATE BANK
Meridian
703 N Main Street
P O Box 328
Meridian, ID 83642
WHEN RECORDED MAIL TO:
FARMERS & MERCHANTS STATE BANK
Meridian
703 N Main Street
P O Box 328
Meridian, ID 83642
ADA COUNT RDER .~ DAVID NAVARRO AMOUNT 27.00
BOISE IDAH01 04104 0' ~M
DEPUTY Vicki Allen
RECORDED-REQUEST OF III I I II II II'I I I I
Pioneer i X41271
SEND TAX NOTICES TO: ~ ~ ~~ '
RANDY J ARNZEN ~ ~'
DANETTE ARNZEN
1234 N. CHERRY CREEK
MERIDIAN. ID 83642 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
DEED OF TRUST
MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 5246,453.00.
THIS DEED OF TRUST is dated October 1, 2004, among RANDY J ARNZEN, and DANETTE ARNZEN, Husband
and Wife, whose address is 1234 N. CHERRY CREEK, MERIDIAN, ID 83642 ("Grantor"); FARMERS &
MERCHANTS STATE BANK, whose address is Meridian, 703 N Main Street, P O Box 328, Meridian, ID 83642
(referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Pioneer Title Company of Ada
County, whose address is 8151 West Rifleman, Boise, ID 83704 (referred to below as "Trustee").
CONVEYANCE AND GRANT. For valuable consideration, Grantor does hereby irrevocably grant, bargain, sell and convey in trust, with power of
sale, to Trustee for the benefit of Lender as Beneficiary, all of Grantor's right, title, and interest in and to the following described real property,
together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and
appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties,
and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real
Property") located in ADA County, State of Idaho:
THAT PORTION OF BLOCK 3, F.A. NOURSE'S THIRD ADDITION TO MERIDIAN, FILED IN BOOL 6 OF PLATS
AT PAGE 289, RECORDS OF ADA COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOW:
COMMENCING AT THE NORTHWEST CORNER OF THE SOUTH HALF OF BLOCK 3 OF NOURSE'S THIRD
ADDITION TO MERIDIAN, IN ADA COUNTY, STATE OF IDAHO: THENCE
SOUTH ALONG THE WEST END ON SAID BLOCK 3 A DISTANCE OF 83 FEET; THENCE
EAST PARALLEL WITH THE NORTH SIDE OF SAID BLOCK 3 TO THE EAST END OF SAID BLOCK 3; THENCE
NORTH ALONG THE EAST END OF SAID BLOCK 3 A DISTANCE OF 83 FEET; THENCE
WEST ALONG THE CENTER LINE OF SAID BLOCK 3 TO THE PLACE OF BEGINNING.
EXCEPTING THEREFROM;
COMMENCING AT THE NORTHWEST CORNER OF THE SOUTH HALF OF BLOCK 3 OF NOURSE'S THIRD
ADDITION TO MERIDIAN, IN ADA COUNTY, STATE OF IDAHO; THENCE
SOUTH ALONG THE WEST END OF SAID BLOCK 3 A DISTANCE OF 83 FEET TO A POINT; THENCE
EAST PARALLEL W)TH THE NORTH SIDE OF SAID BLOCK 3 A DISTANCE OF 120 FEET TO A POINT; THENCE
NORTH PARALLEL WITH THE EAST SIDE OF SAID BLOCK 3 A DISTANCE OF 83 FEET TO A POINT; THENCE
WEST ALONG THE CENTER LINE OF SAID BLOCK 3 A DISTANCE OF 120 FEET TO THE PLACE OF
BEGINNING. /
The Real Property or its addre//~s is commonly known as 1311 N. MAIN ST., MERIDIAN, ID 83642.
Grantor presently assigns to Lenders(also known as Beneficiary in this Deed of Trust) all of Grantor's right, title, and interest in and to all present
~aed future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security
interest in the Personal Property and Rents.
THIS DEED OF TRtJST; INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY,
IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B- PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,
THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Grantor shall pay to Lender all amounts secured by this
Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Grantor's obligations under the Note, this Deed of
• •
DEED OF TRUST
Lcan No: 5051361112 (Continued) Page 2
Trust, and the Related Documents.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by
the following provisions:
Possession and Use. Until the occurrence of an Event of Default, Grantor may 11) remain in possession and control of the Property; 121
use, operate or manage the Property; and 131 collect the Rents from the Property. The following provisions relate to the use of the
Property or to other limitations on the Property. THE REAL PROPERTY EITHER IS NOT MORE THAN FORTY (401 ACRES IN AREA OR IS
LOCATED WITHIN AN INCORPORATED CITY OR VILLAGE.
Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
maintenance necessary to preserve its value.
Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of
the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
Substance by any person on, under, about or from the Property; 12) Grantor has no knowledge of, or reason to believe that there has
been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws,
(b) .any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under,
about or from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any
kind by any person relating to such matters; and 13- Except as previously disclosed to and acknowledged by Lender in writing, (a) neither
Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of
or release any Hazardous Substance on, under, about or from the Property; and Ib) any such activity shall be conducted in compliance
with all applicable federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Grantor
authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem
appropriate to determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall
be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Grantor or to any
other person. The representations and warranties contained herein are based on Grantor's due diligence in investigating the Property for
Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the
event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender
against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer
resulting from a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal,
release or threatened release occurring prior to Grantor's ownership or interest in the Property, whether or not the same was or should
have been known to Grantor. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the
payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's
acquisition of any interest in the Property, whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other
party the right to remove, any timber, minerals lincluding oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
written consent.
Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory to Lender to
replace such Improvements with Improvements of at least equal value.
Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend
to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of
Trust.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans
With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any
proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's
sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond,
reasonably satisfactory to Lender, to protect Lender's interest.
Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those
acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the
Property.
DUE ON SALE -CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed of
Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real
Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal, beneficial
or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed,
leasehold interest with a term greater than three 131 years, lease-option contract, or by sale, assignment, or transfer of any beneficial interest in
or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property. However, this
option shall not be exercised by Lender if such exercise is prohibited by federal law or by Idaho law.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges lincluding
water and sewer, fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or
for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal
to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided
in this Deed of Trust.
Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,
Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (151 days after Grantor has notice of the filing,
secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security
satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and reasonable attorneys' fees, or other charges that
• •
DEED OF TRUST
Lcan No: 5051361112 (Continued)
Page 3
could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any
adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond
furnished in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall
authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against
the Property.
Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or
any materials are supplied to the Property, it any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the
work, services, or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor
can and will pay the cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application
of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and maintain
comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as
additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to
hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in form, amounts, coverages
and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Grantor, upon request
of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including
stipulations that coverages will not be cancelled or diminished without at least fifteen (151 days prior written notice to Lender. Each
insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act,
omission or default of Grantor or any other person. Should the Real Property be located in an area designated by the Director of the Federal
Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available,
within 45 days after notice is given by Lender that the Property is located in a special flood hazard area, for the full unpaid principal balance
of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance
Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan.
Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if
Grantor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's
election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien
affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair, Grantor
shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of
such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default
under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not
committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then
to pay accrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any
proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear.
Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on
each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; 13) the amount of the policy; 141 the
property insured, the then current replacement value of such property, and the manner of determining that value; and 151 the expiration
date of the policy. Grantor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value
replacement cost of the Property.
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor
fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Grantor's failure to discharge or
pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's
behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all
taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring,
maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate
charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of
the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among
and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the
remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust
also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon
Default.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
Title. Grantor warrants that: (a) Grantor holds good and marketable title of record to the Property in fee simple, free and clear of all liens
and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion
issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and Ib) Grantor has the full right, power, and authority
to execute and deliver this Deed of Trust to Lender.
Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against
the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the interest of
Trustee or Lender under this Deed of Trust, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in
such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of
Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to
time to permit such participation.
Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws,
ordinances, and regulations of governmental authorities.
Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Deed of Trust shall
survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such
~. ! •
DEED OF TRUST
Luan No: 5051361112 (Continued) Page 4
time as Grantor's Indebtedness shall be paid in full.
CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust:
Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take
such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal parry in such proceeding, but
Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor
will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to
permit such participation.
Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied to
the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all
reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes,
fees and charges are a part of this Deed of Trust:
Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Deed of Trust and
take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse
Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust,
including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust.
Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon all or
any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Grantor which Grantor is authorized or required to
deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable
against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal
and interest made by Grantor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall have
the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided
below unless Grantor either (t) pays the tax before it becomes delinquent, or 12) contests the tax as provided above in the Taxes and
Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part
of this Deed of Trust:
Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
Security Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect and continue Lender's
security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at
any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Deed of Trust as a
financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon
default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any
Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it available
to Lender within three 13) days after receipt of written demand from Lender to the extent permitted by applicable law.
Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest
granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this
Deed of Trust.
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this
Deed of Trust:
Further Assurances. At any time, and from time to time, upon request of Lender, Grantor will make, execute and deliver, or will cause to
be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all such mortgages,
deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect,
continue, or preserve (1) Grantor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and
security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by
Grantor. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses
incurred in connection with the matters referred to in this paragraph.
Attorney-in-Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of
Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the
purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole
opinion, to accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. ff Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor under
this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Grantor suitable
statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any
reconveyance fee required by law shall be paid by Grantor, if permitted by applicable law.
EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust:
Payment Default. Grantor fails to make any payment when due under the Indebtedness.
Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust
or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other
agreement between Lender and Grantor.
Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in
DEED OF TRUST
Loan No: 5051361112 (Continued) Page 5
any of the Related Documents.
Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance,
or any other payment necessary to prevent filing of or to effect discharge of any lien.
False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this
Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or
becomes false or misleading at any time thereafter.
Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure of
any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
Death or Insolvency. The death of Grantor, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any
assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or
insolvency laws by or against Grantor.
Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help,
repossession or any other method, by any creditor of Grantor or by any governmental agency against any property securing the
Indebtedness. This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of
Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the
creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender
monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an
adequate reserve or bond for the dispute.
Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not
remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
obligation of Grantor to Lender, whether existing now or later.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. In the
event of a death, Lender, at its option, may, but shall not be required to, permit the Guarantor's estate to assume unconditionally the
obligations arising under the guaranty in a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or
performance of the Indebtedness is impaired.
Insecurity. Lender in good faith believes itself insecure.
Right to Cure. If any default, other than a default in payment is curable and if Grantor has not been given a notice of a breach of the same
provision of this Deed of Trust within the preceding twelve 112) months, it may be cured if Grantor, after receiving written notice from
Lender demanding cure of such default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more than fifteen (15)
days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter
continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may
exercise any one or more of the following rights and remedies:
Notice of Default. In the Event of Default Lender shall execute or cause the Trustee to execute a written notice of such default and of
Lender's election to cause the Property to be sold to satisfy the Indebtedness, and shall cause such notice to be recorded in the office of
the recorder of each county wherein the Real Property, or any part thereof, is situated.
Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make
expenditures or to take action to perform an obligation of Grantor under this Deed of Trust, after Grantor's failure to perform, shall not
affect Lender's right to declare a default and exercise its remedies.
Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately
due and payable, including any prepayment penalty which Grantor would be required to pay.
Foreclosure. With respect to all or any part of the Real Property, the Trustee shall have the right to foreclose by notice and sale, and
Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by
applicable law.
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party
under the Uniform Commercial Code.
Collect Rents. Lender shall have the right, without notice to Grantor to take possession of and manage the Property and collect the Rents,
including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In
furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to
Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse
instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants
or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any
proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent, or through a
receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the
power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the
Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without
bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property
exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver.
Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise
becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lender or the
purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the
Property immediately upon the demand of Lender.
DEED OF TRUST•
Loan No: 5051361112 (Continued) Page 6
Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or by law.
Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time
after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice
given at least ten (10) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with
any sale of the Real Property.
Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all rights to have the Property marshalled.
In exercising its rights and remedies, the Trustee or Lender shall be free to sell all or any part of the Property together or separately, in one
sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property. Notice of sale having been
given as then required by law, and not less than the time required by law having elapsed, Trustee, without demand on Grantor, shall sell
the property at the time and place fixed by it in the notice of sale at public auction to the highest bidder for cash in lawful money of the
United States, payable at time of sale. Trustee shall deliver to the purchaser his or her deed conveying the Property so sold, but without
any covenant or warranty express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness
of such matters or facts. After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title and
reasonable attorneys' fees, including those in connection with the sale, Trustee shall apply proceeds of sale to payment of la) all sums
expended under this Deed of Trust, not then repaid with interest thereon as provided in this Deed of Trust; Ib- all Indebtedness secured
hereby; and 1c) the remainder, if any, to the person or persons legally entitled thereto.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled
to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action
is involved, and to the extent not prohibited by -aw, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any
time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall
bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation,
however subject to any limits under applicable law, Lender's reasonable attorneys' fees and Lender's legal expenses whether or not there is
a lawsuit, including reasonable attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any
automatic stay or injunction, appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title
reports (including foreclosure reports, surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent
permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law.
Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this Deed of
Trust:
Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the power to take the following
actions with respect to the Property upon the written request of Lender and Grantor: (a) join in preparing and filing a map or plat of the
Real Property, including the dedication of streets or other rights to the public; (b) join in granting any easement or creating any restriction
on the Real Property; and Ic) join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this
Deed of Trust.
Obligations to Notify. Trustee shall not be obligated to notify any other party of a pending sale under any other trust deed or lien, or of any
action or proceeding in which Grantor, Lender, or Trustee shall be a party, unless the action or proceeding is brought by Trustee.
Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth
above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have
the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law.
Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to any Trustee appointed under this
Deed of Trust by an instrument executed and acknowledged by Lender and recorded in the office of the recorder of ADA County, State of
Idaho. The instrument shall contain, in addition to all other matters required by state law, the names of the original Lender, Trustee, and
Grantor, the book and page where this Deed of Trust is recorded, and the name and address of the successor trustee, and the instrument
shall be executed and acknowledged by Lender or its successors in interest. The successor trustee, without conveyance of the Property,
shall succeed to all the title, power, and duties conferred upon the Trustee in this Deed of Trust and by applicable law. This procedure for
substitution of Trustee shall govern to the exclusion of all other provisions for substitution.
NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale
shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile lunless otherwise required by
law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class,
certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. All copies of notices of
foreclosure from the holder of any lien which has priority over this Deed of Trust shall be sent to Lender's address, as shown near the beginning
of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other
parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed
at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by
Lender to any Grantor is deemed to be notice given to all Grantors.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties
as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in
writing and signed by the party or parties sought to be charged or bound by the alteration or amendment.
Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request, a
certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as
Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection
with the operation of the Property.
Arbitration. Grantor and Lender agree that all disputes, claims and controversies between them whether individual, joint, or class in nature,
arising from this Deed of Trust or otherwise, including without limitation contract and tort disputes, shall be arbitrated pursuant to the Rules
of the American Arbitration AssocPation in effect at the time the claim is filed, upon request of either party. No act to take or dispose of
any Property shall constitute a waiver of this arbitration agreement or be prohibited by this arbitration agreement. This includes, without
• DEED OF TRUST•
Lean No: 5051361112 (Continued) Page 7
limitation, obtaining injunctive relief or a temporary restraining order; invoking a power of sale under any deed of trust or mortgage;
obtaining a writ of attachment or imposkion of a receiver; or exercising any rights relating to personal property, including taking or
disposing of such property with or without judicial process pursuant to Article 9 of the Uniform Commercial Code. Any disputes, claims, or
controversies concerning the lawfulness or reasonableness of any act, or exercise of any right, concerning any Property, including any claim
to rescind, reform, or otherwise modify any agreement relating to the Property, shall also be arbitrated, provided however that no arbitrator
shall have the right or the power to enjoin or restrain any act of any party. Judgment upon any award rendered by any arbitrator may be
entered in any court having jurisdiction. Nothing in this Deed of Trust shall preclude any party from seeking equitable relief from a court of
competent jurisdiction. The statute of limitations, estoppel, waiver, laches, and similar doctrines which would otherwise be applicable in an
action brought by a party shall be applicable in any arbitration proceeding, and the commencement of an arbitration proceeding shall be
deemed the commencement of an action for these purposes. The Federal Arbitration Act shall apply to the construction, interpretation, and
enforcement of this arbitration provision.
Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define
the provisions of this Deed of Trust.
Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at
any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
Governing Law. This Deed of Trust will be governed by, construed and enforced in accordance with federal law and the laws of the State
of Idaho. This Deed of Trust has been accepted by Lender in the State of Idaho.
Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of Ada County,
State of Idaho.
Joint and Several Liability. All obligations of Grantor under this Deed of Trust shall be joint and several, and all references to Grantor shall
mean each and every Grantor. This means that each Grantor signing below is responsible for all obligations in this Deed of Trust.
No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing
and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any
other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to
demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of
dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future
transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance
shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be
granted or withheld in the sole discretion of Lender.
Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
person or circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person or
circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the
offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any
other provision of this Deed of Trust.
Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Trust shall be
binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person
other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the
Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the
Indebtedness.
Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State
of Idaho as to all Indebtedness secured by this Deed of Trust.
DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words
and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not
otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
Beneficiary. The word "Beneficiary" means FARMERS & MERCHANTS STATE BANK, and its successors and assigns.
Borrower. The word "Borrower" means RANDY J ARNZEN and DANETTE ARNZEN and includes all co-signers and co-makers signing the
Note.
Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Grantor, Lender, and Trustee, and includes without limitation all
assignment and security interest provisions relating to the Personal Property and Rents.
Default. The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default".
Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances
relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"-, the Superfund Amendments and
Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq.,
the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or
regulations adopted pursuant thereto.
Event of Defauk. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default
section of this Deed of Trust.
Grantor. The word "Grantor" means RANDY J ARNZEN and DANETTE ARNZEN.
Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of the
Loan No: 5051361112
•
DEED OF TRUST
(Continued)
Page 8
Note.
Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical,
chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when
improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous
Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or
waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum
and petroleum by-products or any fraction thereof and asbestos.
Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the
Real Property, facilities, additions, replacements and other construction on the Real Property.
Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or
Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or
Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Trustee
or Lender to enforce Grantor's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of
Trust.
Lender. The word "Lender" means FARMERS & MERCHANTS STATE BANK, its successors and assigns.
Note. The word "Note" means the promissory note dated October 1, 2004, in the original prlnCipel amount of $246,453.00
from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions
for the promissory note or agreement. The maturity date of this Deed of Trust is October 15, 2019. NOTICE TO GRANTOR: THE NOTE
CONTAINS A VARIABLE INTEREST RATE.
Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all
replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
proceeds and refunds of premiums) from any sale or other disposition of the Property.
Property. The word "Property" means collectively the Real Property and the Personal Property.
Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments,
agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from
the Property.
Trustee. The word "Trustee" means Pioneer Title Company of Ada County, whose address is 8151 West Rifleman, Boise, ID 83704 and
any substitute or successor trustees.
EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND EACH GRANTOR AGREES TO ITS
TERMS.
GRANTOR:
r
X
;.:..:.
RANDY J ARNZ
X
DANE TE ARNZEN
INDIVIDUAL ACKNOWLE T_ _ ~,,,, ®,,~~,
~~ ~ I RUTH Z,~,H®RiK
STATE OF N()TA~tY PUBLIC
~~~ ; ss STATE OF IDAHO
COUNTY OF /o
On this / ~ day of ~~~,~/~ , in the year 20 ~~, before me
a notary public in and for the State of Idaho, personally appeared RANDY J RN EN, known or identified
to me (or roved to me on the oath of -, to be the person whose name is subscribed to the within
nt d a ledg d to m that he or she executed the same.
' ` G Residing at ~ ~~~E~ -
Notary ub is for I aho ~
My commission expires ~/`~~~~'
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D~~~~v/p~ •--~- I- EX ~ uku~ 7 7~E~ 'i0 ~,r,, ®-~ (~tX~
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DEED OF TRUST
Loan P1o: 5051361112 (Continued) Page 9
INDIVIDUAL ACKNOWLEDGMENT
STATE OF ~~(~~1 ~ ) RUTI-~ ZAHORIK
) ss IV(?T~R'~F' ~IJBLI~
COUNTY OF ~ ) STATE ~1= IDAHO
On this ~ ~ day of ~~~ /~ , in the year 20 ,before me
a notary public in and for the State of Idaho, personally appeared DANETTE A ZEN, known or identified
to me (or proved to me on the oath of ), to be the person whose name is subscribed to the within
ipstru a~ ~o~ ow ed to me th h~s~~cuted the same. g /~~0~~
,,,JJ/!n /1 Residin at /~•il~/'C
My commission expires 7 ~2 ~~C-C/~
REQUEST FOR FULL RECONVEYANCE
(To be used only when obligations have been paid in full)
To: ,Trustee
The undersigned is the legal owner and holder of all Indebtedness secured by this Deed of Trust. All sums secured by this Deed of Trust have
been fully paid and satisfied. You are hereby directed, upon payment to you of any sums owing to you under the terms of this Deed of Trust or
pursuant to any applicable statute, to cancel the Note secured by this Deed of Trust (which is delivered to you together with this Deed of Trust),
and to reconvey, without warranty, to the parties designated by the terms of this Deed of Trust, the estate now held by you under this Deed of
Trust, Please mail the reconveyance and Related Documents to:
Date:
Beneficiary:
ey:
its:
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