A?%nTltle 2026-003658

MTC

Klamath County, Oregon

! 04/27/2026 08:44:11 AM

Fee: $137.00
This Space Provided for Recorder's Use
WHEN RECORDED RETURN TO:
Sage Federal Credit Union
P.O. Box 1179
Klamath Falls, OR 97601
LINE OF CREDIT TRUST DEED
Grantor(s):  Marty K, Erickson & Leah M. Erickson,
as Tenants by the Entirety
Grantee(s).  Sage Federal Credit Union, Beneficiary
Legal Description:
For complete legal description, see attached Exhibit A.
Assessor’s Property Tax Parcel or AccountNo.: 618184
THIS LINE OF CREDIT TRUST DEED IS DATED April 21 , 2026 among
Marty K. Erickson & | eah M. Erickson, as Tenants by the Entirety -
whose addressis 16076 Hwy 66.
Keno, OR 97627 (referred to below as “Grantor’); Sage
Federal Credit Union, whose address is P.O. Box 1179, Klamath Falls, Oregon 97601 (sometimes referred to
below as “Lender” and sometimes as “Beneficiary™); and
AmeriTitle , whose address is
404 Main St.. Ste 1. Klamath Falls, OR 97601 , (referred to below as “Trustee”).
This Line of Credit Trust Deed secures the Home Equity Credit Account Agreement and Disclosures
{the “Agreement”) dated April 21 , 2026, in the maximum principal amount at any one
time of $.70,000.00 - For purposes of security, the maximum term of your Account and the

Agreement is thirty (30) years, which includes the specific draw and repayment period including any
renewals or extensions thereto.

1. CONVEYANCE AND GRANT. For valuable consideration, Grantor conveys to Trustee for the benefit of
Lender as Beneficiary all of Grantor's right, title, and interest in and to the real property described above
(“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.

2. DEFINITIONS. The following words shall have the following meanings when used in this Trust Deed:

a. Indebtedness. The word “Indebtedness” means all principal and interest payable under the Home
Equity Credit Account Agreement and any amounts advanced or expended by Lender to discharge
obligations of Grantor or expenses incurred by Trustee or Lender to enforce obligations of Grantor
under this Trust Deed, together with interest on such amounts as provided in this Trust Deed. This
Trust Deed secures your Home Equity Line of Credit Account under the Agreement. The Home
Equity Line of Credit Account is a revolving line of credit account which obligates Lender to make
advances to Grantor in the maximum principal amount at any one time as set fourth above until the
Agreement is terminated or suspended or if advances are made up to the maximum credit limit, and
Grantor complies with the terms of the Agreement. Funds may be advanced by Credit Union, repaid
by Grantor, and subsequently readvanced by Credit Union in accordance with the Agreement.
Notwithstanding the amount outstanding at any particular time, this Trust Deed secures the total
indebtedness under the Agreement. The unpaid balance of your account under the Agreement will

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remain in full force and effect notwithstanding a zero outstanding balance on the line from time to
time.

b. Personal Property. The words “Personal Property” mean all equipment, fixtures, and other articles
of personal property owned by Grantor, 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.

c. Property. The word “Property” means collectively the Real Property and the PersonalProperty.

d. Related Documents. The words “Related Documents” mean and include without limitation all
advance vouchers, loan agreements, guaranties, security agreements, mortgages, deeds of trust, and
all other documents, whether now or hereafter existing, executed in connection with Grantor's
Indebtedness to Lender.

3. PAYMENT AND PERFORMANCE. Grantor shall pay to Lender all amounts secured by this Trust Deed
as they become due, and shall strictly perform all of Grantor’s obligations under the Agreement and Trust
Deed.

4. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that its possession and use
of the Property shall be governed by the following provisions:

a. Possession and Use. Unless and until Lender takes any action under paragraph 17, Grantor may
(a) remain in possession and control of the Property, and (b) operate and manage the Property. The
following provisions relate to the use of the Property or to other limitations on the Property.

THIS INSTRUMENT WILL NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS
INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS.
BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE
TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR
COUNTY PLANNING DEPARTMENT TO VERIFY APPROVED USES.

b. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform
all repairs and maintenance necessary to preserve its value.

¢. Hazardous Substances. Grantor represents and warrants that the Property never will be so long as
this Trust Deed remains a lien on the Property, used for the generation, manufacture, storage,
treatment, disposal, release or threatened release of any hazardous substance, as those terms are
defined in 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 (“SARA”"), applicable state laws, or regulations adopted pursuant to any of the
foregoing. Grantor authorizes Lender and its agents to enter upon the Real Property to make such
inspections and tests as Lender may deem appropriate to determine compliance of the Property with
this paragraph. 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 orto any
other person. Grantor agrees to indemnify and hold Lender harmless against any and all claims and
losses resulting from a breach of this paragraph of the Trust Deed. This obligation to indemnify shall
survive the payment of the Indebtedness and the satisfaction of this Trust Deed.

d. Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit or suffer any
strip or waste on or to the Property or any portion thereof. Specifically without limitation, Grantor will
not remove, or grant to any other party the right to remove, any timber, minerals (including oil and
gas), soil, gravel or rock products without the prior written consent of Lender.

e. Lender’s Right to Enter. Lender and its agents and representatives may enter upon the Real
Property at all reasonable times to attend to Lender's interest and to inspect the Property for purposes
of Grantor’s compliance with the terms and conditions of this Trust Deed.

f. Compliance with Governmental Requirements. Grantor shall promptly comply with all laws,
ordinances, and regulations of all governmental authorities applicable to the use or occupancy of the
Property. 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 Lender’s interests in the Property are not
jeopardized. Lender may require Grantor to post adequate security reasonably satisfactory to Lender,
to protect Lender’s interest.

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5.

g. Duty to Protect. In addition to the acts set forth above in this section, Grantor shall do all other acts
that from the character and use of the Property are reasonably necessary to protect and preserve the
Property.

INDEMNITY. Grantor shall indemnify Lender and hold Lender harmless from any and all claims or
liabilities arising out of or in connection with the Property or its use, provided that such claims or liabilities
arise out of acts or omissions occurring subsequent to the date Grantor first holds title to the Property.

DUE ON SALE - CONSENT BY LENDER. Grantor shall not sell, or transfer its interest in the Real
Property or any interest or part thereof, without the Lender’s prior written consent. A sale, assighment, or
transfer means the conveyance of real property or any right, title or interest therein; whether legal or
equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land
contract, contract for deed, 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
real property interest. Transfer also includes any change in ownership of more than fifty percent (50%) of
the interests of Grantor. However, this option shall not be exercised by Lender if exercise is prohibited by
applicable state or federal law.

TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are a part of
this Trust Deed.

a. Payment. Grantor shall pay when due before they become delinquent all taxes, special taxes,
assessments, charges (including 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 Trust Deed, except for the lien of taxes and
assessments current but not yet due, except as otherwise provided in this Trust Deed. If Grantor
objects in good faith to the validity or amount of any tax, assessment, or related lien, Grantor at its
sole expense may contest the validity and amount of the tax, assessment, orlien.

b. Evidence of Payment. Grantor shall upon demand furnish to Lender 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.

PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part
of this Trust Deed.

a. 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 not less than the total unpaid balance
on the Agreement, and with a standard mortgagee clause in favor of Lender. Policies shall be written
in form, amounts, coverages and basis reasonably acceptable to Lender and issued by acompany 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 canceled or diminished without at least ten (10) days prior
written notice to Lender.

b. Application of Proceeds. In the event that the Improvements are damaged or destroyed by
casualty, Grantor shall promptly restore the Improvements and Lender shall make the insurance
proceeds available to Grantor for restoration, subject to the following conditions: (a) Lender shall
have reasonably determined that the Improvements can be restored to as good or better condition as
the Improvements were in immediately prior to the casualty on account of which such proceeds were
paid; (b) Lender shall have determined that such net proceeds, together with any funds paid by
Grantor to Lender, shall be sufficient to complete the restoration: (c) no default and no event of failure
which, with the passage of time or the giving of notice, would constitute a default under this Trust
Deed shall have occurred; (d) at the time of such casualty, there are at least two (2) years to the
maturity date of the Note; (e) Lender shall have approved the plans and specifications to be used in
connection with the restoration, which approval shall not be unreasonably withheld, and shall have
received written evidence, satisfactory to Lender, that such plans and specifications have been
approved by all governmental and quasi-governmental authorities having jurisdiction and by all other
persons or entities required to approve such plans and specifications: (P Lender may require that the
funds be disbursed by it or by a disbursement agent appointed by it in @ manner similar to that utilized
for the disbursement of funds under a construction loan, including without limitation, requirement of
certificates of architect as to percentage of completion and the furnishing of appropriate mechanics
and materialmen’s lien waivers, the furnishing of appropriate bonds and other items as reasonably
required by Lender. Net proceeds in excess of the amount necessary to complete the restoration
shall, at the option of Lender, be applied to the outstanding indebtedness as a prepayment thereof.

¢. Unexpired Insurance at Sale. Any unexpired insurance shall inure to the benefit of, and pass to, the
purchaser of the Property covered by this Trust Deed at any trustee’s or other sale held under the
provisions of this Trust Deed, or at any foreclosure sale of such Property.

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d. 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: (a) the name of
the insurer; (b) the risks insured; (c) the amount of the policy; (d) the property insured, the then
current replacement value of such property, and the manner of determining that value; and (e) the
expiration date of the policy.

WARNING - UNLESS YOU PROVIDE US WITH EVIDENCE OF THE INSURANCE COVERAGE AS
REQUIRED BY OUR LOAN AGREEMENT, WE MAY PURCHASE INSURANCE AT YOUR
EXPENSE TO PROTECT OUR INTEREST. THIS INSURANCE MAY, BUT NEED NOT, ALSO
PROTECT YOUR INTEREST. IF THE COLLATERAL BECOMES DAMAGED, THE COVERAGE
WE PURCHASE MAY NOT PAY ANY CLAIM YOU MAKE OR ANY CLAIM MADE AGAINST YOU.
YOU MAY LATER CANCEL THIS COVERAGE BY PROVIDING EVIDENCE THAT YOU HAVE
OBTAINED PROPER COVERAGE ELSEWHERE. YOU ARE RESPONSIBLE FOR THE COST OF
ANY INSURANCE PURCHASED BY US. THE COST OF THIS INSURANCE MAY BE ADDED TO
YOUR LOAN BALANCE. IF THE COST IS ADDED TO THE LOAN BALANCE, THE INTEREST
RATE ON THE UNDERLYING LOAN WILL APPLY TO THIS ADDED AMOUNT. THE EFFECTIVE
DATE OF COVERAGE MAY BE THE DATE YOUR PRIOR COVERAGE LAPSED OR THE DATE
YOU FAILED TO PROVIDE PROOF OF COVERAGE. THE COVERAGE WE PURCHASE MAY BE
CONSIDERABLY MORE EXPENSIVE THAN INSURANCE YOU CAN OBTAIN ON YOUR OWN
AND MAY NOT SATISFY ANY NEED FOR PROPERTY DAMAGE COVERAGE OR ANY
APPLICABLE MANDATORY LIABILITY INSURANCE REQUIREMENTS.

9. EXPENDITURES BY LENDER. If Grantor fails to comply with any provision of this Trust Deed, or if any
action or proceeding is commenced that would materially affect Lender’s interest in the Property, Lender
on Grantor’s behalf may, but shall not be required to pay all such expenses including but not limited to
taxes, insurance and maintenance costs, and at Lender’s option, will (a) be payable on demand, or (b) be
added to the principal loan balance and be payable in accordance with the Agreement. This Trust Deed
also will secure payment of these amounts. The rights provided for in this paragraph shall be in addition
to any other rights or any remedies to which Lender may be entitled on account of the default. Any such
action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that it
otherwise would have had.

10. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a
part of this Trust Deed.

a. 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 any policy of title
insurance issued in favor of or in any title opinion given to, and accepted by, Lender in connection with
this Trust Deed and (b) Grantor has the full right, power, and authority to execute and deliver this
Trust Deed to Lender.

b. Defense of Title. Subject tothe exceptions in the paragraph above, if any, Grantor warrants and will
forever defend the title to the Property against the lawful claims of all persons. Inthe eventany action
or proceeding is commenced that questions Grantor’s title or the interest of Trustee or Lender under
this Trust Deed, Grantor shall defend the action at its expense. Grantor may be the nominal party in -
such proceeding, but Lender shall be entitled to participate in the proceeding and to be representedin
the proceeding by counsel of its own choice, and Grantor will deliver, or cause to be delivered, to
Lender such instruments as may be requested by it from time to time to permit such participation.

¢. Compliance with Laws. Grantor warrants that its use of the Property complies with all existing
applicable laws, ordinances, and regulations of governmental authorities.

11. CONDEMNATION. The following provisions relating to proceedings in condemnation are a part of this
Trust Deed.

a. Application of Net Proceeds. If all or any part of the Property is condemned, Lender shall apply the
net proceeds of the award in any reasonable manner necessary to satisfy Grantor's obligations under
the Agreement of this Trust Deed. The net proceeds of the award shall mean the award after
payment of all reasonable costs, expenses, and attorney fees necessarily paid or incurred by Trustee
or Lender in connection with the condemnation. However, there shall be no obligation to pay
Grantor’s costs, expenses or attorney fees from such awards.

b. 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 party 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 as may be requested by
it from time to time to permit such participation.

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12. IMPOSITION OF TAXES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to
taxes are a part of this Trust Deed.

a. Taxes Covered. The following shall constitute taxes to which this section applies: (a)a specific tax
upon this type of Trust Deed or upon all or any part of the Indebtedness secured by this Trust Deed:
(b) a specific tax on Borrower which Borrower is authorized or required to deduct from payments on
the Indebtedness secured by this type of Trust Deed; (c) a tax on this type of Trust Deed chargeable
against the Lender; and (d) a specific tax on all or any portion of the Indebtedness or on payments of
principal and interest made by a Borrower.

b. Remedies. If any tax to which this section applies is enacted subsequent to the date of this Trust
Deed, Grantor shall either (a) pay the tax before it becomes delinquent, or (b) contest 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.

13. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Trust
Deed as a security agreement are a part of this Trust Deed.

a. Security Agreement. This instrument shall constitute a security agreement to the extent any of the
Property constitutes fixtures or other personal property, and Lender shall have all of the rights of a
secured party under the Uniform Commercial Code.

b. Security Interest. Upon request by Lender, Grantor shall execute financing statements and take
whatever other action is requested by Lender to perfect and continue Lender’s security interest in the
Rents and Personal Property. In addition to recording this Trust Deed in the real property records,
Lender may, at any time and without further authorization from Grantor, file executed counterparts,
copies or reproductions of this Trust Deed as a financing statement. Grantor shall reimburse Lender
for all expenses incurred in perfecting or continuing this security interest. Upon default, Grantor shalll
assemble the Personal Property in @ manner and at a place reasonably convenient to Grantor and
Lender and make it available to Lender within three (3) business days after receipt of written demand
from Lender.

¢. Addresses. The mailing address of Grantor (debtor) and the mailing address of Lender (secured
party) from which information concerning the security interest granted by this Trust Deed may be
obtained (each as required by the Uniform Commercial Code of the state where the Property is
located) are as stated on the first page of this Trust Deed.

14. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further
assurances are a part of this Trust Deed.

a. Further Assurances. Atanytime, 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, re-filed, or re-recorded, 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 (a) the obligations of Grantor under the Agreement, this Trust Deed, and the
Related Documents, and (b) the liens and security interests created by this Trust Deed on the
Property, whether now owned or hereafter acquired by Grantor. Unless prohibited by law or agreed to
the contrary by Lender in writing, Grantor shall reimburse Lender for all costs and expenses incurred
in connection with the matters referred to in this paragraph.

b. 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 precedingparagraph.

15. FULL PERFORMANCE. If Grantor pays all the Indebtedness, including without limitation all future
advances, when due and otherwise performs all the obligations imposed upon Grantor under this Trust
Deed and the Agreement, Lender shall execute and deliverto 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. Grantor agrees to pay

Lender any reconveyance fee for preparing and recording documents in connection with the release of
Lenders security interest.

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16. POSSIBLE ACTIONS OF LENDER. The Lender may take the following actions with respect to your
Agreement under the circumstances listed below:

a.

Termination and Acceleration. Except as set forth in the Agreement the Lender may, without
further notice terminate your Agreement and require Grantor to pay the entire outstanding balance
immediately, and charge Grantor certain fees if any of the following happen: (i) Grantor engages in
any fraud or material misrepresentation in connection with the Agreement. For example, if there are
false statements or omissions on Grantor’s application or financial statements; (i) Grantor does not
meet the repayment terms of the Agreement; (iii) Grantor's actions or inactions adversely affect the
collateral or Lender’s rights in the collateral. For example, if Grantor fails to: maintain insurance, pay
taxes; transfer title to or sell the collateral, prevent the foreclosure of any items, or waste of the
collateral.

Suspension of Credit/Reduction of Credit Limit. Lender may refuse to make additional advances
on the line of credit or reduce the credit limit during any period in which the following exist or occur: (i)
Any of the circumstances listed in a., above; (i) The value of Grantor's dwelling securing the
Indebtedness declines significantly below its appraised value for purposes of the Agreement; (jii)
Lender reasonably believes that Grantor will not be able to meet the repayment requirements of the
Agreement due to a material change in Grantor’s financial circumstances; (iv) Grantor is in default
under any material obligations of the Agreement and Trust Deed: (v) The maximum annual
percentage rate under the Agreement is reached; (vi) Any government action prevents Lender from
imposing the annual percentage rate provided for or impairs Lender’s security interest such that the
value of the interest is less than one hundred twenty percent (1 20%) of the credit line; (vii) Lender has
been notified by government agency that continued advances would constitute an unsafe and
unsound practice.

Change in Terms. The Agreement permits Lender to make certain changes to the terms of the
Agreement at specified times or upon the occurrence of specified events.

17. NOTICE OF DEFAULT. In the event of a default under Paragraph 16.b(iv), Borrower shall have an
opportunity to remedy any such default within twenty (20) days after notice from the holder hereof. Notice
shall be deemed to have been given when deposited in the United States mail, postage fully prepaid,
certified or return receipt requested and addressed to Borrower at the address listed above or to such
other address as may be designated by written notice from Borrower.

18. ACTIONS UPON TERMINATION. In the event the Agreement is terminated, Trustee or Lender, at its
option, may, not earlier than twenty (20) days after Grantor has been given written notice of the
termination, exercise any one or more of the following rights and remedies, in addition to any other rights
or remedies provided by law.

a.

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 byapplicable 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.

Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of
any or all of the Property, with the power to protect and preserve the Property, to operate the Property
preceding foreclosure or sale, and to collect the Income from the Property and apply the proceeds,
over and above 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 (a) pay a reasonable rental for use of the Property, or (b) vacate the
Property immediately upon the demand ofLender.

Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Trust Deed
or the Agreement 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 Personal Property may be made in conjunction
with any sale of the Real Property.

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g. Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all
rights to have the Property marshaled. 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.

19. WAIVER; ELECTION OF REMEDIES. A waiver by any party of a breach of a provision of this Trust Deed
shall not constitute a waiver of or prejudice the party’s rights otherwise to demand strict compliance with
that provision or any other provision. Election by Lender to pursue any remedy provided in this Trust
Deed, the Agreement, in any Related Document, or provided by law 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 Trust Deed after failure of Grantor to perform shall not affect Lender’s right to declare a default and to
exercise any of its remedies.

20. ATTORNEY FEES; EXPENSES. If Lender institutes any suit or action to enforce any of the terms of this
Trust Deed, Lender shall be entitled to recover such sum as the court may adjudge reasonable as
attorney fees at trial and on any appeal. Whether or not any court action is involved, all reasonable
expenses incurred by Lender which 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 or default rate, whichever is higher, from the date of expenditure until
repaid. Expenses covered by this paragraph include, without limitation however subject to any limits
under applicable law, Lender’s attorney fees whether or not there is a lawsuit, including attorney fees 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, 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. In the event of foreclosure of this Trust Deed, Lender shall be entitled to recover
from Grantor Lender’s attorney fees and actual disbursements necessarily incurred by Lender in pursuing
such foreclosure.

21. RIGHTS OF TRUSTEE. Trustee shall have all of the rights and duties of Lender as set forth in this
section.

22. POWER AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and
obligations of Trustee are part of this Trust Deed.

a. Power 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 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 (c) join in any subordination or other agreement affecting this Trust Deed or the
interest of Lender under this Trust Deed.

b. 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.

c. Trustee. Trustee shall meet all qualifications required for Trustee under applicable state 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.

d. Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor trustee
to any Trustee appointed hereunder by an instrument executed and acknowledged by Lender and
recorded in the office of the Recorder of the County where the property is now located. 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 Trust Deed 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, powers, and duties conferred upon the Trustee in this Trust Deed and by

applicable law. This procedure for substitution of Trustee shall govern to the exclusion of all other
provisions for substitution.

e. Sale by Trustee. When the Trustee sells pursuant to the powers provided, Trustee shall apply the
proceeds of sale to payment of (1) the expenses of sale, including the lawful fees of the Trustee and
the reasonable fees of Trustee’s attorney, (2) the obligations secured by this Trust Deed, 3) to all
persons having recorded liens subsequent to the interest of the Beneficiary and the Trust Deed as

their interest may appear in the order of their priority, and (4) the surplus, if any, to the Grantor or to
his successor in interest entitled to such surplus.

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23.

24,

25,

NOTICES TO GRANTOR AND OTHER PARTIES. Any notice under this Trust Deed, including without
limitation any notice of default and any notice of sale to Grantor, shall be in writing and shall be effective
when actually delivered or, if mailed, shall be deemed effective when deposited in the United States mail
first class or registered mail, postage prepaid, directed to the addresses shown at the top of page one (1).
Any party may change its address for notices under this Trust Deed by giving formal written notice to the
other parties, specifying that the purpose of the notice is to change the party’s address. All copies of
notices of foreclosure from the holder of any lien which has priority over this Trust Deed shall be sent to
Lender's address, as shown near the top of the first page of this Trust Deed. For notice purposes,
Grantor agrees to keep Lender and Trustee informed at all times of Grantor’s currentaddress.

USE. Grantor agrees with Lender this Trust Deed is a residential Trust Deed, and that the property is not
used principally for agricultural or farming purpose.

MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Trust Deed.

a. Amendments. This Trust Deed, together with any Related Documents, constitutes the entire
understanding and agreement of the parties as to the matters set forth in this Trust Deed. No
alteration or amendment of this Trust Deed shall be effective unless given in writing and signed by the
party or parties sought to be charged or bound by the aiteration oramendment.

b. Applicable Law. Lender's exercise of remedies on default shall be governed by the law of the state
in which the Property is located. In all other respects, this Trust Deed shall be governed by and
construed in accordance with the laws of the State of Oregon.

c. California Statement of Obligation Fee. Ifthe Property is located in California, Lender may collect
afee not to exceed the maximum amount permitted by Applicable Law for furnishing the statement of
obligation as provided by Section 2943 of the Civil Code of California.

d. Caption Headings. Caption headings in this Trust Deed are for convenience purposes only and are
not to be used to interpret or define the provisions of this Trust Deed.

e. Entire Agreement. The parties agree that the Agreement, Trust Deed, and subsequent advance
vouchers from Lender to Borrower, are the entire agreement between the parties and supersede any
prior agreements between Borrower and Lender relating to the Property.

f.  Merger. There shall be no merger of the interest or estate created by this Trust Deed 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.

g. Multiple Parties. All obligations of Grantor under this Trust Deed shall be joint and several, and all
references to Grantor shall mean each and every Grantor. This means that each of the persons
signing below is responsible for all obligations in this Trust Deed. It is not necessary for Lender to
inquire into the powers of any of the parties or of the officers, directors partners, or agents acting or
purporting to act on behalf of Grantor, and any indebtedness made or created in reliance upon the
professed exercise of such powers shall be guaranteed under and secured by this Trust Deed.

h. Severability. If a court of competent jurisdiction finds any provision of this Trust Deed to be invalid or
unenforceable as to any person or circumstance, such finding shall not render that provision invalid or
unenforceable as to any other persons or circumstances, and all provisions of this Trust Deed in all
other respects shall remain valid and enforceable.

i. Successors and Assigns. Subject to the limitations stated in this Trust Deed on transfer of
Grantor’s interest, this Trust Deed 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
Trust Deed and the Indebtedness by way of forbearance or extension without releasing Grantor from
the obligations of this Trust Deed or liability under the Indebtedness.

j- Time is of the Essence. Time is of the essence in the performance of this TrustDeed.

k. Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of
any applicable homestead exemption laws as to all Indebtedness secured by this Trust Deed.

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©2020 Farleigh Wada Witt

EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS TRUST DEED,
AND EACH GRANTOR AGREES TO ITS TERMS.

GRAN :
aty K. Erickson Lea! M. Erickson !
X X

STATE OF OREGON )

\ ) ss.
county of X 1QAMNATN §

Thi

> record was acknowledged before. me on

C . .
e Enfarery - H
Signattfe of Notarial Officer Jessica Renee Gulickson

Stamp (if required): 1066795
OFFICIAL STAMP Title of Office: Notary Public

% JESSICA RENEE GULICKSON My Commission Expires:_f\AQCCN V1, Q03D
F//]  NOTARY PUBLIC - OREGON

= COMMISSION NO. 1066795
MY COMMISSION EXPIRES MARCH 17, 2030

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EXHIBIT A

Lots 4, 17 and 18 of PONDOSA, according to the official plat thereof on file in the office of the
County Clerk, Klamath County, Oregon.

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