NOTICE OF TRUSTEE'S SALE
PURSUANT TO THE REVISED CODE OF WASHINGTON
CHAPTER 61.24 ET SEQ.
TO: Bridges Development Group LLC (Borrower)
c/o LPSL Corporate Services, Inc.
1420 5th Ave. #4100
Seattle, WA 99101-2338
Bridges Development Group LLC (Borrower)
c/o William M. Donahoe
11820 Northup Way #E100
Bellevue, WA 98005
William M. Donahoe (Guarantor)
11820 Northup Way #E100
Bellevue, WA 98005
PURSUANT TO THE REVISED CODE OF WASHINGTON
CHAPTER 61.24 ET SEQ.
TO: Bridges Development Group LLC (Borrower)
c/o LPSL Corporate Services, Inc.
1420 5th Ave. #4100
Seattle, WA 99101-2338
Bridges Development Group LLC (Borrower)
c/o William M. Donahoe
11820 Northup Way #E100
Bellevue, WA 98005
William M. Donahoe (Guarantor)
11820 Northup Way #E100
Bellevue, WA 98005
I.
NOTICE IS HEREBY GIVEN that the undersigned Successor Trustee will on the 4th day of November, 2011, at the hour of 10:00 a.m. at the main entrance to the Grant County Superior Courthouse, 35 "C" Street NW, in the City of Ephrata, the 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 Grant, State of Washington, to wit:
Units 703, 801, 803, 901, 902 and 903, The Bridges At Moses Point, a Condominium, according to the Declaration and Amendments thereof and the Survey Map and Plans and Amendments thereof recorded September 13, 2003, May 14, 2004, October 5, 2006 and February 7, 2008, under Auditor's File Nos. 113394, 1146823, 1201248, 1231310 and 1231309, records of Grant County, Washington;
Tax Parcel Nos. 32-0310-703, 32-0310-801, 32-0310-803, 32-0310-901, 32-0310-902, 32-0310-903
The address of which is more commonly known as:
4395 Westshore Drive Northeast, Unit #s 703, 801, 803, 901, 902, 903
which is subject to that certain Construction Deed of Trust dated January 12, 2007, recorded January 17, 2007, under Auditor's File No. 1207394, records of Grant County, Washington from Bridges Development Group, LLC, a Washington limited liability company, as Grantor, to UPF Incorporated, as Trustee, and to secure an obligation in favor of AmericanWest Bank, as Beneficiary.
An Appointment of Successor Trustee dated February 2, 2011 was recorded February 4, 2011 under Auditor's File No. 1282199, records of Grant County, Washington, appointing John R. Layman, Layman Law Firm, PLLP (formerly known as Layman, Layman & Robinson, PLLP), as Successor Trustee.
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 Grantor's default on the obligation secured by said Deed of Trust.
III.
The default for which this foreclosure is made is as follows:
Failure to pay when due the following amounts which are now in arrears:
Full Payment and interest as follows: Principal of $899,843.54 plus interest of $56,833.55 through July 28, 2011.
Other potential defaults do not involve payment to the Beneficiary. If applicable each of these defaults must also be cured.
Delinquent real estate taxes for the years 2009, 2010, and 2011, plus interest.
Delinquent homeowners' association fees
IV.
The sum owing on the obligation secured by the Deed of Trust is:
Principal $899,843.54, together with interest as provided in the note from the 1st day of September, 2010 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 Construction Deed of Trust as provided by statute. Said sale will be made without warranty, express or implied, regarding title, possession, or encumbrances on the 4th day of November, 2011. The defaults referred to in paragraph III must be cured by the 24th day of October, 2011 (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 24th day of October, 2011 (11 days before the sale) 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 24th day of October, 2011 (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 Construction Deed of Trust, plus costs, fees, and advances, if any, made pursuant to the terms of the obligation and/or Construction Deed of Trust, and curing all other defaults.
VI.
A written notice of default was transmitted by the Beneficiary or Successor Trustee to the Grantor at the following address:
Bridges Development Group LLC (Borrower)
Barbara J. Homayouni
42417 SE 149th Pl.
North Bend, WA 98045
Bridges Development Group LLC (Borrower)
William M. Donahoe
11820 Northup Way #E100
Bellevue, WA 98005
Barbara J. Homayouni (Guarantor)
42417 SE 149th Pl.
North Bend, WA 98045
William M. Donahoe (Guarantor)
11820 Northup Way #E100
Bellevue, WA 98005
by both first class and certified mail on the 29th day of December, 2010, proof of which is in the possession of the Successor Trustee; and the Grantor was personally served on the 30th day of December, 2010, with said written notice of default 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 is set forth below will provide in writing to anyone requesting it, a statement of all costs and fees due at any time prior to the sale.
VIII.
The effect of the sale will be to deprive the Grantor and all those who hold by, through or under the Grantor of all their interest in the above-described property.
IX.
Anyone having any objection to the sale on any grounds whatsoever will be afforded an opportunity to be heard as to those objections if they bring a lawsuit to restrain the sale pursuant to RCW 61.24.130. Failure to bring such a lawsuit may result in a waiver of any proper grounds for invalidating the Trustee's sale.
X.
NOTICE TO OCCUPANTS OR TENANTS
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 and tenants. After the 20th day following the sale the purchaser has the right to evict occupants and tenants by summary proceedings under the unlawful detainer act, Chapter 59.12 of the Revised Code of Washington.
XI.
NOTICE TO GUARANTORS OF A COMMERCIAL LOAN
Pursuant to RCW 61.24.042, notice is hereby given to the Guarantor(s) of a commercial loan that (1) the Guarantor(s) 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 Construction Deed of Trust; (2) the Guarantor(s) has the same rights 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(s) 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 guarantee 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(s) 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.
DATED this 3rd day of August, 2011.
Successor Trustee: LAYMAN LAW FIRM, PLLP
(formerly known as LAYMAN, LAYMAN, & ROBINSON, PLLP)
/s/ JOHN R. LAYMAN
By: JOHN R. LAYMAN
601 S. Division Street
Spokane, WA 99202
(509) 455-8883
#10031/1947024
Pub.: October 6 & 27, 2011